Dell Children’s Medical Center of Central Texas is located in Northeast Austin, as well as the Thinkery children’s museum and many elementary schools, creating an ideal neighborhood for companies with a focus in childhood education or medicine. The Central Austin submarket includes the Hancock, North University, Heritage, and West Campus neighborhoods as well as part of The Drag. Downtown is the main center of business, government, and technology in Austin. I-35 and the MoPac Expressway are the two main traffic arteries heading running north to south, with US-183 crossing through the north side of Austin and Ben White Boulevard running east to west through the southern side. We can also customize your office space to your designs to give you a space that truly reflects your business. The overall vacancy rate in Austin currently sits just above 10%. It is located at 825 E. Rundberg Ln, Austin, TX 78753, on the corner of I-35 and E. Rundberg Ln. By comparison, about 1.1 million square feet of sublease space -- space a tenant doesn’t need and markets to another user -- was available this time last year, Graves said. Taking the bus is one of the easiest ways to get around Northeast Austin, and drivers have access to major roadways including I-35, Highway 183, and Highway 130. Private office space tailored to your business' unique needs and designed by you. "We’ve had this space in Austin for years and our employees have really enjoyed being a part of this community," Barrus said. "Perhaps no asset class has more unknowns than the Austin office market.". Austin is also very bike-friendly, and Austin “B-cycle” kiosks are located throughout Downtown. Because there was a shortage of office space before the pandemic, companies including Google, Indeed and Facebook had to commit to new leases in buildings that had not even broken ground. The eastern suburbs generally have the lowest asking rents. Find the right location for you in Austin or beyond. Irs Office Austin. Kristi Svec Simmons, a principal with Aquila, said trends are starting to show companies looking to move away from dense areas like downtown Austin. Just over half that space is pre-leased to tenants, with Indeed and Google among them. Our fully equipped workspaces have everything taken care of – from the furniture to the high-speed WiFi – so you can focus on driving your business forward. The district is contained above the intersection of South MoPac Expressway and South Capital of Texas Highway. David Putnam, an office broker with Aquila who leases several properties in Northwest Austin, said tours by prospective companies looking for space is down significantly compared to the past few years. Not long ago, a prime swath of office space in Northwest Austin bustled with the activity of about 250 employees. Downtown Austin has seen a significant uptick in vacancy. South Central lies below downtown, across Lady Bird Lake. Industries with corporate offices in South Central include hospitality, beverage production, technology and information, and more. The area provides excellent office space options for the legal, real estate, insurance, and business industries at some of the lowest rents in Austin. Office space for top-tier (Class A) space was 13.5% vacant on average (or 86.5% occupied) … Austin is a major center of high tech and science industries, being home to major companies in IT, biotech, and pharmaceuticals. The current lease expires Dec. 31, 2023. Original content available for non-commercial use under a Creative Commons license, except where noted. "Unfortunately, the market challenges in the oil and gas industry, exacerbated by the pandemic, made consolidating our operations in Houston the best move for us in order to better support our workforce and improve collaboration, along with reducing our costs.". One of the more expensive submarkets, Southwest Austin office space is the ideal location for companies in the energy, medical, and technology industries who don’t want to pay Downtown prices. The only thing that continues to increase is sublease space and construction, the two data points most landlords would rather not see," Tenenbaum said in a third-quarter video presentation. "That is the highest since 2002 during the dot.com bust, when 33% of available space was sublet space.". Since the first quarter of this year alone, the amount of sublease space in Central Texas is up more than 225%, Graves said. Vital Farms and Pirch have headquarters in the area, which is also favored by production, supply, and distribution industries. The University of Texas at Austin campus is in the north part of the district. * All prices shown are valid at the time of inquiry, based on 24-month contracts. The company, which opened its first Austin office with seven employees in 2010, now employs more than 1,200 people in the city. Park & Ride lots help connect the outer suburbs to Austin’s Central Business District, as well as Amtrak and intercity buses.
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