TAKEAWAYS

• Austin’s office market rebounded some in the second quarter with 1.5 million square feet (msf) leased. As tenants are taking advantage of both leasing and reoccupying marketed sublease spaces as they return to the office, there was a 20% drop in sublease availability over the second quarter alone.
• Despite stronger quarterly leasing volume, availability continued to increase, rising 80 basis points (bps) due to a booming construction pipeline.
• n Domain, part of northwest submarket, Amazon sublet 114,665 square feet (sf) of space from Vrbo, at 11800 Domain Boulevard.
• As of June 2021, the Centers for Disease Control and Prevention (CDC) COVID-19 data tracker shows that more than half of vaccine-eligible populations have now been fully vaccinated nationwide.

Read the full report