Availability increases drastically, led by the East and Northeast submarkets as Austin feels impact of COVID-19 and new deliveries

Austin's overall availability rate, which includes sublease space, increased by 500 basis points (bps) and 180 bps year over year and quarterly, respectively, to 15.6%. Class A availability rose by 770 bps to 17.4%, while the availability rate for lower quality space rose by 130 bps to 13.1% over the last year. In addition to the pandemic shutdown, Austin has seen abundant new construction deliver in the past year, also contributing to the increase in availability - particularly amongst Class A properties.

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