Downtown Austin office rents surpass L.A., Chicago

​​​​​​​​​​AUSTIN – As one of the most expensive markets in the country for leasing in trophy offices (more than 250,000 sf), the market is thriving according to JLL’s national Skyline Report.

Austin is now the No. 7 most expensive skyline market with a per-sf average lease rate of $53.67. 

The cost to lease in Austin’s premium properties now surpasses comparable space in major markets such as Chicago, Seattle, Los Angeles, and Miami.

Another interesting aspect of the Skyline Report? Where Austin lands in the office cycle, which has four positions: The rising phase, peaking phase, falling phase and bottoming phase. 

All major U.S. markets remain on the upward swing except Houston, which has just entered the falling phase.