Cushman & Wakefield: Austin 3Q 2016 office market remains strong

​​​​AUSTIN-ROUND ROCK​ – ​Despite a decrease in absorption in third quarter 2016, the Austin market remains strong going into 4Q​ 2016. 

Asking rates have continued to rise as space has become more scarce with decreased vacancy rates across most submarkets.

In the CBD, asking rates have increased significantly, once again. Class A rates in particular are at record highs, with several properties in the CBD asking more than $60 psf.

The overall market rate increased to $34.00 psf, a $0.46 increase from 2Q 2016.