Office market tight squeeze in downtown Austin

AUSTIN – The local area continues to attract big players despite a lack of large blocks of office space and rising rents.

With a new mix of companies clamoring for space in the Central Business District, vacancy rates have plummeted to about 10.9 percent for Class A office properties, said Kim Gatley of NAI REOC Austin.

In Austin, only five buildings downtown offer more than 20,000 sf of contiguous space. If squeezed tightly, about 100 people can fit into 20,000 sf, said Equitable Commercial Realty Principal Matt Levin.