Austin leasing activity suggests urban and suburban growth

Graph of Austin commercial real estate leasing activity by submarket
  • Leasing activity over the past few years suggests occupier demand remains strongest in urban environments, namely the CBD , East Austin, and The Domain, reinforced by a flight to quality trend, while the suburbs have exhibited steady activity due to a higher inventory of smaller blocks and closer proximity to employees.
  • Since 2020, CBD leads with a total of 1.5 million sf leased, while the East follows closely behind having leased of total nearly 900k sf. The northern Austin submarkets, comprising of North/Domain, Northwest, and Northeast follow the same positive trajectory having leased a combined 1.2 million sf during the same period.
  • Recent development and leasing activity confirms certain submarkets with urban characteristics have captured a larger share of the activity greater than 20k sf as companies are drawn to high quality spaces with superior amenities and walkability that appeal to the modern employee.

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US-TX-AUS Austin