Austin is in a new class of office market defined by strong in-migration from other metros and robust investment from tech and finance companies. It is expected to be the fourth most active office market in terms of construction in 2021, with 4.75 million square feet of office space scheduled for delivery this year, according to CommercialCafe’s recently released 2021 Office Pipeline Report. When considering all office building construction, regardless of projected completion dates, this number jumps to 7.8 million square feet.
The 708,438-square-foot Indeed Tower is the biggest project to be delivered in Austin this year. Meanwhile, the biggest office project scheduled for completion in 2021 in Texas is the 1.1 million-square-foot Texas Tower in Houston.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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