Most listings are in the $40's per square foot per year. The Hancock submarket is going through a a rise in rates. In the last 3 months, the median rate went up $18 per sqft per year. That's a 64% rise in rent.
Compared to the rest of the Greater Austin market, the Hancock region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 16 listings have come on the market, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 38% of the office spaces in the Hancock are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,540 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area were built in 2009 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Hancock occupants. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Hancock.
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