TAKEAWAYS

• The Austin office market sees highest level of leasing activity since the onset of the pandemic with 2.7 million square feet (msf), however, availability increased by 10 basis points from last quarter.
• With the state’s business-friendly environment and technology-focused labor market, Austin metro has created over 26,000 new jobs in 2021 with high-profile tech companies such as Samsung, Amazon, Tesla, and Meta leading the way.
• According to the Federal Reserve Bank of Dallas, Austin’s unemployment rate dropped to 3.7 percent in the fourth quarter which is well below the state’s and nation’s rate of 5.4 percent and 4.6 percent each, respectively.
• Meta leased 574,165 sf at 400 West 6th Street in the Central Business District (CBD) submarket. Also, Amazon signed for a 332,865 sf lease at 2904 Palm Way in Domain/Northwest submarket which is currently under construction.

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