Austin office market sees an uptick in leasing activity compared to this time last year

The Austin office market continues to hold firm observing 1.3 million square feet (msf) of leasing activity in Q3 2024. Several large deals were signed this quarter including IBM leasing 320,000 square feet (sf) at the Domain, along with PayPal expanding their footprint by 60,000 sf also at the Domain. While the slowdown in the tech sector has caused overall leasing activity to lag relative to pre-pandemic, leasing activity has seen an uptick year over year. Healthy demand is expected over the near term given the number of active tenants in the market looking for space. As of Q3 2024, sublease availability remains high, however, it has been flat quarter over quarter.

Read the full report