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The typical asking rate per commerial real estate listing leases is in the $40's per square foot per year. The Downtown Austin region is going through a an increase in rates. In the last 3 months, the median rate for lease increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Greater Austin commercial real estate market, the Downtown Austin submarket has more expensive rates for rent, and you may need to pay a premium to be in this hot submarket.
In the last 90 days, 753 commercial real estate listings have been made available, so you'll want to check back regularly for new listings. About 1% of the available commercial real estate space in the Downtown Austin are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard size for office space in this area is around 700 sqft. Most buildings in this area are around 6 stories. Most buildings in this region were built around 1973 and are Class A.
This region is fairly equally mixed residential and commercial. Information is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Austin folk. Commuting close to 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 Downtown Austin.
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