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Texas  + Austin  + Office  | 
RE Prop Tech Veteran Frederick Townes is Named CEO of Remine

Austin Office Market Remains Strong in 2022, NAI Reports

With the 1Q 2022 coming to an end, the first two months of Austin’s office activity shows overall vacancy is at 14.6%, up 90 basis points from this time last year. Availability is at 18.6%, down 50 basis points from February 2021 at 19.1%, according to NAI’s Partners monthly Austin Office report.

The difference between this figure and the vacancy rate reflects expected future move-outs. The Austin office market has recorded 1.5 million square feet of leasing activity, which is comprised of both new leases and renewals, while net absorption (move-ins minus move-outs) is at positive 441,000 square feet, up from negative 99,000 square feet, year-over-year. The amount of square feet delivered to the Austin office market during January and February has outpaced net absorption—representing demand for office space—for the sixth consecutive period since 2016.

Even with the increase in vacancy, leasing activity was up 50% year-over-year, and net absorption was higher and out of the red during January and February compared to 2021.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Economy
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