Austin's office market saw a large increase in sublease space availability in Q2 2020, with over 100,000 square feet added from several large companies. The sublease availability increased over 40% compared to the start of Q2, reflecting the economic challenges brought on by the COVID-19 pandemic. However, construction continued on projects like Google and Indeed's downtown towers, and Tesla announced plans for a new factory in Austin, showing signs that Austin remains an attractive market. Vacancy rates increased overall to 13.6% as net absorption turned negative, but some submarkets did see positive absorption.

1. Research &
Forecast Report
AUSTIN | OFFICE
Q2 2020
Kaitlin Holm Research and Marketing Coordinator | Austin
Boots On The Ground Commentary by Ally Dorris
Our “Boots on the Ground” viewpoint is the voice of our experts, who
have broken down the market data and compared it to what they are
seeing for themselves. This is their take on what the numbers actually
mean for the Austin office market.
A tidal wave of sublease space has crashed down on Austin.
Some of the biggest players in town, such as Parsley Energy
and GoDaddy, have listed large blocks of space on the sublease
market, over 100,000 SF each. Sublease inventory has increased
by more than 40% since the start of the 2nd quarter. The number
of subleases has more than doubled compared to Q2 2019. A
drastic spike in sublease space is an evident product an economic
recession, which was officially announced by the National Bureau of
Economic Research in early June. With office space typically being
a company’s second greatest expense behind compensation, and
with so many employees currently working from home, subleasing
unused office space has become the first line of defense in efforts
to reduce overhead during these unprecedented times.
However, even during a global pandemic, Austin continues to move
forward and show signs of prospering. Downtown skyscrapers
continue to be proposed while the skies remain flooded with
active cranes. Other than temporary shutdowns due to COVID-19,
construction continues on large developments like Google and
Indeed’s new downtown towers. Austin also continues to be a
safe haven for companies seeking refuge from state income taxes
and higher costs of living in states like California and New York,
now also fueled by differences in the handling of COVID-19. Telsa,
recently dubbed the most valuable carmaker, is the newest tech
giant to set its sights on Central Texas. During Q2, Tesla was in
incentive negotiations with the State of Texas after identifying a
2,100-acre site in Southeast Austin for their newest gigafactory.
The first half of 2020 is unlike anything we’ve seen before, but
to watch companies, big and small, adapt to the changing world
around them has been fascinating. With Austin still ranked as the
#1 Best Place to Live (U.S. News & World Report), we look onward
in hopes that Austin is as quick to rebound as many believe.
Sublease space on the rise as Austin
maneuvers through the COVID-19 pandemic
Future Forecast
While increasing supply, coupled with a decrease in demand for
office space, is a recipe for a long overdue softening in the market,
Austin’s poised to recover. Though we have lost a few iconic
restaurants and music venues that attributed to the culture which
makes Austin a one-of-a-kind city, the quality of life Austin provides
remains unmistakable.
The question on everyone’s mind: How do we move forward in the
midst of a global pandemic? One thing we know for certain is that
tenants will not be returning to the same type of office environment
that they left in Q1. Architects have flooded the marketplace with
plenty of information regarding new office configurations and
designs, as well as an emphasis on healthy working environments.
In efforts to decrease the costs of office space, many employers are
moving to flexible schedules for their employees by implementing
rotating schedules in the office or the freedom for employees to
work from home 1 – 2 days per week, and are reconfiguring their
workspace, allowing them to reduce their office footprint.
By The Numbers - Austin’s Office Market
TOTAL INVENTORY
61.7M SF
TOTAL VACANCY
13.6%
Q2 NET ABSORPTION
-276,569 SF
YTD NET ABSORPTION
-313,567 SF
TOTAL UNDER
CONSTRUCTION
7.04M SF
TOTAL PRE-LEASED
2.01M SF
CBD CLASS A
$62.71as tracked by Colliers
SUBURBAN
CLASS A
$38.43
AVERAGE
RATE/SF
$36.41
Rates inclusive of estimated operating expenses. Average rates include sublease rates,
which are much lower than direct rates.

2. 2
Austin Office Overview
In the second quarter of 2020, Austin’s office market reported
276,569 SF of negative net absorption. A large amount of the
negative absorption occurred in Class A buildings with a total of
165,602 SF of negative net absorption. Class B buildings in Austin
posted 98,524 SF of negative net absorption and Class C properties
recorded 12,443 SF of negative net absorption.
There is 7,045,063 SF of office space under construction and
2,014,130 SF of that is pre-leased. Looking forward, in the third
quarter of 2020 we expect to record 1,157,726 SF of deliveries with
485,109 SF of that being pre-leased, but COVID-19 may change
those projections. One of the buildings set to deliver in the third
quarter of 2020 is Highland 3 at 523 East Highland Boulevard; the
entire 250,000 SF building is 100% pre-leased to City of Austin
Planning and Development.
5th + Tillery at 618 Tillery Street was the largest building to deliver
in the second quarter. This 182,716 SF building delivered in June
and is vacant, but ready for tenant improvements. The third quarter
of 2020 is expected to see thirteen new buildings come online, but
many of those deliveries will likely be pushed back.
The citywide average rental rate increased over the quarter from
$36.36 per SF in Q1 2020 to $36.41 per SF in Q2 2020. Class A
rental rates in Austin’s CBD decreased by 0.8% over the quarter
from $53.43 per SF to $52.99 per SF in Q2 2020. The overall
suburban Class A rental rate increased from $38.13 per SF to
$38.43 per SF, over the quarter.
Due to COVID-19, most offices are still working from home and
major companies in Austin, like Facebook and Google, have
declared that their employees with be working from home until
2021. A lot of these larger companies realize that having hundreds
of employees coming up the elevator 2-6 people at a time is
inefficient and would rather offer support to their staff to create a
better at-home experience.
On July 22nd, Tesla announced that it has chosen Austin as the
new site for their gigafactory. Telsa plans to build a multi-million
square foot manufacturing facility near the airport. This new factory
will inevitably raise housing prices in the area, but will also employ
around 5,000 people.
Vacancy & Availability
Austin’s citywide vacancy rate increased from 13.1% in the first
quarter of 2020 to 13.6% in the second quarter. The Northeast
submarket’s Class A vacancy rate had the largest jump in vacancy
moving from 25.7% in Q1 2020 to 30.4% in Q2. This was caused
mostly by 33,934 SF being vacated at Parmer 3.2 (13011 McCallen
Pass Drive).
The largest decline in vacancy was recorded in the Class A
Southeast submarket, where the rate decreased from 25.7% to
20.2%.
2 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
Market Indicators
Relative to prior period
Annual
Change
Quarterly
Change
Quarterly
Forecast*
VACANCY
NET ABSORPTION
NEW CONSTRUCTION
UNDER CONSTRUCTION
*Projected
Summary Statistics
Austin Office Market Q2 2019 Q1 2020 Q2 2020
Vacancy Rate 10.3% 13.1% 13.6%
Net Absorption
(Million Square Feet)
.538 -.036 -.276
New Construction
(Million Square Feet)
2.46 0.08 1.96
Under Construction
(Million Square Feet)
5.29 5.32 7.04
Class A Vacancy Rate
CBD
Suburban
5.8%
9.8%
6.1%
17.1%
10.1%
17.7%
Gross Asking Rents
Per Square Foot Per Year
Average $35.66 $36.36 $36.41
CBD Class A $51.54 $53.43 $52.99
Suburban Class A $38.26 $38.13 $38.43
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
Net Absorption New Supply Vacancy
ANNUAL ABSORPTION, NEW SUPPLY, AND VACANCY

3. $0.00
$10.00
$20.00
$30.00
$40.00
$50.00
CBD Rents Suburban Rents
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
CBD Vacancy Suburban Vacancy
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Net Absorption New Supply Vacancy
Absorption & Demand
Austin’s office market posted 276,569 SF of negative net absorption in Q2 2020.
Despite this, eight submarkets experienced positive absorption over the quarter,
including Cedar Park, Central, Far Northwest, Northeast, Northwest, Round Rock,
Southeast and Southwest.
A large amount of Q2 negative net absorption occurred in the Class A CBD
submarket, totaling 330,500 SF of negative net absorption. Over 200,000 SF of
the CBD Class A’s negative absorption is from sublease space being added to the
market. One of the notable subleases now on the market is at Indeed Tower (200
W 6th Street), which is still under construction and isn’t set to deliver until 2021.
Teacher Retirement System of Texas signed a lease at Indeed Tower, which is still
under construction, for the 100,992 SF of space in March and then put the space
on the sublease market in June.
The Far Northwest submarket recorded the highest positive absorption number
with 67,146 SF of positive net absorption. The majority of the absorption in
the Far Northwest submarket happened in Class A space and can be partially
attributed to an unknown tenant moving into a 20,578 SF sublease space at
Amber Oaks Building A (13640 Briarwick Drive).
The Austin market recorded sixteen leases over 10,000 SF each in the second
quarter with Tata Consulting leading the way with its 58,873 SF lease at Parmer
4.2. In the CBD, Husch Blackwell signed a renewal for their 46,000 SF space at
111 Congress Avenue.
Rental Rates
According to CoStar, our data provider, Austin’s citywide average rental rate
increased 0.13% over the quarter from $36.36 per SF to $36.41 per SF.
The highest rental rates across the Austin office market in the second quarter
were in CBD Class A buildings where net rental rates average $52.99 per SF.
Rental rates were also high in the East submarket where Class A rental rates
reached $47.21 per SF.
Citywide Class B rental rates decreased marginally in Q2 2020 to $33.02 per SF
down from $32.87 per SF in Q1 2020. CBD Class B rental rates decreased 3.4%
over the quarter from $51.43 per SF to $49.66 per SF in Q2 2020.
3 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
UNEMPLOYMENT 5/19 5/20
AUSTIN 2.4% 11.4%
TEXAS 3.1% 12.7%
U.S. 3.6% 13.3%
JOB GROWTH
Annual
Change
# of Jobs
Added
AUSTIN -7.7% -86.3K
TEXAS -7.1% -908.8K
U.S. -8.6% -17.7M
CBD vs. Suburban
CLASS A OFFICE VACANCY
CLASS A OFFICE RENTS
Job Growth & Unemployment
(not seasonally adjusted)
QUARTERLY ABSORPTION, NEW SUPPLY, AND VACANCY

4. 44 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
Q2 2020 Top Office Lease Transactions
BUILDING ADDRESS SUBMARKET SF TENANT LEASE DATE
Parmer 4.2 Northeast 58,873 Tata Consulting May-20
111 Congress Ave CBD 46,000 Husch Blackwell1
Jun-20
Parmer 4.2 Northeast 42,000 WiPro May-20
7000 William Cannon Dr W Southwest 34,995 Unknown Apr-20
7000 William Cannon Dr W Southwest 32,994 Advanced Micro Devices, Inc. Apr-20
Parmer 4.1 Northeast 29,915 Unknown May-20
1205 Sheldon Cv Northeast 28,000 Unknown May-20
504 Lavaca St CBD 19,231 Unknown May-20
14425 Falcon Head Blvd Southwest 15,000 Unknown May-20
6800 Burleson Rd Southeast 13,767 Unknown Jun-20
9130 Jollyville Rd Northwest 12,261 Unknown Jun-20
3900 N Capital of Texas Hw Southwest 11,874 Unknown2
May-20
2028 E Ben White Blvd Southeast 10,813 Unknown Jun-20
912 Us Highway 183 S Southeast 10,581 Unknown Apr-20
801 E Old Settlers Blvd Round Rock 10,336 Unknown Apr-20
5113 Southwest Pky Southwest 10,044 Global Foundries Jun-20
Leasing Activity
Austin’s office market recorded 386,684 SF of leasing activity in Q2 2020. Only sixteen leases for 10,000 SF or more were signed in Q2
2020 while 37 were signed in Q1 2020. Major transactions this quarter included two leases for a total of 100,873 SF at Parmer 4.2. The
two tenants, Tata Consulting and WiPro, signed in May and are set to move into their spaces in October 2020. This puts Parmer 4.2 at
78.2% leased with just the first floor remaining vacant.
1
Renewal 2
Sublease
Sales Activity Commentary by Doug Rauls
The COVID outbreak has caused a virtual shutdown in investment sales activity. In Q2 2020, The American Founders Building (6937 N
I-35), a Class B, 70,229 SF office building, was the only office building sale over 50,000 SF. It sold in April to Integral Care who plans to
use it for their headquarters. The property was vacant at the time of sale.
There were numerous commercial property sales, of all sizes and property types, that were called off in Q2 due to COVID. In many cases,
the buyers in these transactions forfeited significant earnest money. The lack of financing (both debt and equity) was a main reason
many of the transactions failed to close. While still tight, debt and equity markets have loosened up recently, which will allow for additional
transactions in Q3 and Q4. However, we expect overall volume of commercial office, industrial and retail sales to be much lower in 2020
compared to 2019. A number of sellers are taking a “wait and see” approach toward the COVID outbreak, delaying potential property sales
until later in 2020 or early 2021.
LEADING THE NATION
Austin ranked No. 1 as 2019 Best Places to Live
in the United States according to U.S. News &
World Report. The list ranked the country’s 100
largest metropolitan areas based on affordability,
job prospects and quality of life

5. 5 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
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Chart Title–One Line
Chart Title
SUBHEAD 1 SUBHEAD 1 SUBHEAD 1 SUBHEAD 1
Body
INVENTORY DIRECT VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%)
NET ABSORPTION
(SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q2-2020 Q1-2020 Q2-2020 Q1-2020
AVG ($/
SF)
CBD
A 32 8,190,239 481,265 5.9% 346,680 4.2% 827,945 10.1% 6.1% -330,500 69,522 $52.99
B 35 2,719,450 137,892 5.1% 45,263 1.7% 183,155 6.7% 6.7% -8,448 19,383 $49.66
C 10 631,980 11,477 1.8% 4,537 0.7% 16,014 2.5% 2.5% -922 0 $23.98
Total 77 11,541,669 630,634 5.5% 396,480 3.4% 1,027,114 8.9% 6.0% -339,870 88,905 $51.27
SUBURBAN
A 213 24,460,501 3,533,875 14.4% 641,966 2.6% 4,175,841 17.1% 17.7% 164,898 -348,188 $38.43
B 428 23,183,132 2,826,912 12.2% 229,340 1.0% 3,056,252 13.2% 12.6% -90,076 195,474 $32.05
C 57 2,557,176 150,843 5.9% 16,287 0.6% 167,130 6.5% 6.1% -11,521 26,811 $26.77
Total 698 50,200,809 6,511,630 13.0% 887,593 1.8% 7,399,223 14.7% 14.8% 63,301 -125,903 $34.76
OVERALL
A 245 32,650,740 4,015,140 12.3% 988,646 3.0% 5,003,786 15.3% 14.8% -165,602 -278,666 $40.55
B 463 25,902,582 2,964,804 11.4% 274,603 1.1% 3,239,407 12.5% 12.0% -98,524 214,857 $33.02
C 67 3,189,156 162,320 5.1% 20,824 0.7% 183,144 5.7% 5.4% -12,443 26,811 $26.58
Total 775 61,742,478 7,142,264 11.6% 1,284,073 2.1% 8,426,337 13.6% 13.1% -276,569 -36,998 $36.41
INVENTORY
DIRECT
VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%) NET ABSORPTION (SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q2-2020 Q1-2020 Q2-2020 Q1-2020
AVG ($/
SF)
CEDAR PARK
A 7 720,936 193,890 26.9% 0 0.0% 193,890 26.9% 27.0% 689 45,560 $33.41
B 8 348,822 39,184 11.2% 0 0.0% 39,184 11.2% 14.1% 10,076 -19,272 $28.23
Total 15 1,069,758 233,074 21.8% 0 0.0% 233,074 21.8% 22.8% 10,765 26,288 $31.88
CENTRAL .
A 6 640,288 17,322 2.7% 33,772 5.3% 51,094 8.0% 9.1% 6,960 1,711 $45.23
B 41 2,202,190 199,390 9.1% 5,356 0.2% 204,746 9.3% 9.3% 150 4,606 $32.33
C 14 841,133 28,996 3.4% 3,065 0.4% 32,061 3.8% 3.1% -5,771 -6,058 $22.36
Total 61 3,683,611 245,708 6.7% 42,193 1.1% 287,901 7.8% 7.9% 1,339 259 $32.67
EAST
A 7 614,017 214,412 34.9% 41,646 6.8% 256,058 41.7% 41.8% 478 -63,945 $47.21
B 23 2,312,448 720,037 31.1% 30,000 1.3% 750,037 32.4% 30.5% -44,357 21,966 $31.29
C 7 285,188 23,032 8.1% 13,232 4.6% 36,264 12.7% 8.1% -13,167 -9,973 $39.13
Total 37 3,211,653 957,481 29.8% 84,878 2.6% 1,042,359 32.5% 30.7% -57,046 -51,952 $44.63
FAR NORTHEAST
B 3 94,996 16,228 17.1% 0 0.0% 16,228 17.1% 14.3% -2,638 1,333 $30.64
Total 3 94,996 16,228 17.1% 0 0.0% 16,228 17.1% 14.3% -2,638 1,333 $30.64
FAR NORTHWEST
A 13 1,889,243 191,746 10.1% 89,942 4.8% 281,688 14.9% 18.7% 70,729 -53,617 $33.11
B 13 1,267,919 39,313 3.1% 3,199 0.3% 42,512 3.4% 3.1% -3,583 60,511 $28.01
C 2 77,864 3,200 4.1% 0 0.0% 3,200 4.1% 4.1% 0 -2,020 $22.14
Total 28 3,235,026 234,259 7.2% 93,141 2.9% 327,400 10.1% 12.2% 67,146 4,874 $31.81
Austin Suburban Office Market Summary
Austin Office Market Summary (CBD, Suburban, & Overall)

6. 6 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
Austin Suburban Office Market Summary - Continued
INVENTORY DIRECT VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%)
NET ABSORPTION
(SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q2-2020 Q1-2020 Q2-2020 Q1-2020
AVG ($/
SF)
NORTH/DOMAIN
A 18 2,705,028 86,038 3.2% 8,753 0.3% 94,791 3.5% 2.8% -19,808 15,698 $34.80
B 48 2,708,192 332,911 12.3% 6,903 0.3% 339,814 12.5% 11.9% -18,633 -29,232 $28.29
C 1 24,759 0 0.0% 0 0.0% 0 0.0% 0.0% 0 0 -
Total 67 5,437,979 418,949 7.7% 15,656 0.3% 434,605 8.0% 7.3% -38,441 -13,534 $30.25
NORTHEAST
A 5 645,881 115,530 17.9% 81,024 12.5% 196,554 30.4% 25.7% -30,464 -88,007 $23.97
B 19 1,213,603 104,777 8.6% 72,774 6.0% 177,551 14.6% 19.4% 58,433 -9,320 $23.08
C 6 226,421 16,500 7.3% 0 0.0% 16,500 7.3% 7.3% 0 62,299 $22.70
Total 30 2,085,905 236,807 11.4% 153,798 7.4% 390,605 18.7% 20.1% 27,969 -35,028 $22.96
NORTHWEST
A 70 7,841,318 1,933,134 24.7% 240,503 3.1% 2,173,637 27.7% 28.2% 35,950 -129,791 $38.34
B 111 5,064,449 604,877 11.9% 64,071 1.3% 668,948 13.2% 12.6% -32,605 37,464 $31.61
C 5 115,405 5,199 4.5% 0 0.0% 5,199 4.5% 4.6% 99 -2,322 $26.79
Total 186 13,021,172 2,543,210 19.5% 304,574 2.3% 2,847,784 21.9% 21.9% 3,444 -94,649 $35.10
ROUND ROCK
A 10 889,810 91,307 10.3% 7,597 0.9% 98,904 11.1% 12.4% 11,486 34,998 $33.49
B 19 681,448 62,003 9.1% 5,579 0.8% 67,582 9.9% 12.6% 17,969 7,320 $26.21
C 6 219,274 3,109 1.4% 0 0.0% 3,109 1.4% 1.4% 0 -3,109 -
Total 35 1,790,532 156,419 8.7% 13,176 0.7% 169,595 9.5% 11.1% 29,455 39,209 $30.17
SOUTH
A 8 554,054 24,938 4.5% 0 0.0% 24,938 4.5% 6.5% 10,907 -30,081 $45.80
B 31 1,449,251 152,197 10.5% 6,822 0.5% 159,019 11.0% 7.4% -10,499 -46,842 $44.87
C 9 511,274 25,492 5.0% 0 0.0% 25,492 5.0% 3.7% -6,435 513 $25.88
Total 48 2,514,579 202,627 8.1% 6,822 0.3% 209,449 8.3% 6.4% -6,027 -76,410 $43.69
SOUTHEAST
A 4 623,789 125,795 20.2% 0 0.0% 125,795 20.2% 25.7% 34,600 21,500 $31.96
B 22 2,213,260 229,438 10.4% 0 0.0% 229,438 10.4% 9.2% -26,637 171,489 $26.10
C 3 112,588 45,315 40.2% 0 0.0% 45,315 40.2% 46.9% 7,475 -17,078 $30.97
Total 29 2,949,637 400,548 13.6% 0 0.0% 400,548 13.6% 14.1% 15,438 175,911 $30.62
SOUTHWEST
A 60 6,745,687 511,478 7.6% 137,317 2.0% 648,795 9.6% 10.0% 47,856 -145,757 $40.99
B 81 3,071,628 278,081 9.1% 34,636 1.1% 312,717 10.2% 9.0% -37,752 5,204 $33.18
C 3 93,138 0 0.0% 0 0.0% 0 0.0% 6.7% 6,278 0 -
Total 144 9,910,453 789,559 8.0% 171,953 1.7% 961,512 9.7% 9.7% 16,382 -140,553 $37.22
WEST CENTRAL
A 5 590,450 28,195 4.8% 1,412 0.2% 29,607 5.0% 4.3% -4,485 43,545 $45.32
B 9 554,926 48,476 8.7% 0 0.0% 48,476 8.7% 8.7% 0 -9,753 $37.71
C 1 50,132 0 0.0% 0 0.0% 0 0.0% 0.0% 0 4,559 -
Total 15 1,195,508 76,671 6.4% 1,412 0.1% 78,083 6.5% 6.2% -4,485 38,351 $39.56

7. 7 Austin Research & Forecast Report | Q2 2020 | Office | Colliers International
Office Development Pipeline
7,045,063 SF of office space was under construction during at the close of the 2nd quarter. Just three buildings delivered in Q2 with
the largest being 5th + Tillery (618 Tillery Street). This 182,716 SF building delivered in June and is vacant. 29% of all space under
construction is already pre-leased and over 1,000,000 SF is set to deliver in Q3 2020. It is very likely that most of these dates will get
pushed back due to delays caused by COVID-19.
BUILDING NAME ADDRESS SUBMARKET SF
PRE-
LEASED
DEVELOPER
EST.
DELIVERY
Block 185 601 W 2nd St CBD 796,525 100.0% Trammell Crow Company May-22
Indeed Tower 200 W 6th St CBD 669,130 50.2% Trammell Crow Central Texas Ltd Apr-21
6th X Guadalupe 400 W 6th St CBD 597,505 0.0% Lincoln Property Company Dec-22
300 Colorado St 300 Colorado St CBD 358,000 44.0% Cousins Properties Incorporated Jan-21
RiverSouth 401 S 1st St South 350,611 21.8% Stream Realty Partners, LP Aug-21
Domain Tower 2 10721 Domain Dr North/Domain 330,012 0.0% Stonelake Capital Partners Aug-21
4815 Mueller Blvd 4815 Mueller Blvd East 275,000 100.0% Catellus Apr-21
Highland 3 523 E Highland Blvd Central 250,000 100.0% Unknown Jul-20
Mueller Business District- Alpha 1900 Aldrich St East 236,000 0.0% Catellus Development Corporation Feb-21
Eastbound 3232 E Cesar Chavez St East 233,476 14.1% Unknown Sep-21
1836 San Jac 1836 San Jacinto Blvd CBD 230,609 18.6% Unknown Feb-21
405 Colorado 405 Colorado St CBD 203,130 5.9% Brandywine Realty Trust Oct-20
Centro - Southern 1401 E 6th St East 164,155 96.0% Riverside Resources May-21
Foundry II 1600 E 4th St East 161,436 23.7% Cielo Property Group Apr-21
Bouldin Creek 2043 S Lamar Blvd South 161,310 11.7% Unknown Aug-20
Seven Oaks East 8701 FM 2244 Southwest 153,405 0.0% Riverside Resources Jul-20
The Grove - Block 2 2117 Perseverance Dr West Central 134,114 0.0% Castletop Capital Jul-20
The Grove - Block 1 - Office 4301 Bull Creek Rd West Central 134,114 0.0% Castletop Capital Jul-20
Seven Oaks West 8701 FM 2244 Southwest 130,152 100.0% Riverside Resources Dec-20
Uplands Corporate Center Phase II 5301 Southwest Pky Southwest 124,081 0.0% Unknown May-21
701 Rio Grande 701 Rio Grande St CBD 120,934 0.0% Unknown Feb-21
1111 W 6th St 1111 W 6th St West Central 109,085 100.0% Schlosser Development Sep-21
Saint Elmo Plaza 4223 S Congress Ave South 105,000 4.8% Maker Bros Jan-21
The Quincy 93 Red River St CBD 103,948 25.2% Endeavor Real Estate Group Dec-20
1221 S Congress Ave 1221 S Congress Ave South 103,000 66.5% Endeavor Real Estate Group Aug-20
Building 2 3212 E Cesar Chavez St East 96,467 0.0% Cypress Real Estate Advisors, Inc. Dec-20
Building 1 3212 E Cesar Chavez St East 75,956 0.0% Cypress Real Estate Advisors, Inc. Dec-20
ShadySide 1141 Shady Ln East 64,674 18.2% Bercy Chen Studio LP Nov-20
The Seasons at Chandler Creek 2200 N AW Grimes Round Rock 60,000 36.1% Unknown Oct-20
Music Lane Building One 1011 S Congress Ave South 53,389 100.0% Unknown Jul-20
Block 3 (Phase 1) - Office Bldg 2 4301 Bull Creek Rd West Central 44,656 100.0% Endeavor Real Estate Group Nov-20
1204 San Antonio at Capitol West 1204 San Antonio St CBD 41,698 0.0% Unknown Jan-21
The Overlook at Lakeway 2909 Flintrock Trce Southwest 41,068 0.0% Unknown Nov-21
Austin Commons Building 1 11065 Burnet Rd North/Domain 40,000 100.0% Unknown Sep-20
Bldg 3 1601 E Pflugerville Pky Far Northeast 38,500 0.0% Unknown Feb-21
801 Central Park Dr 801 Central Park Dr Cedar Park 35,320 0.0% Unknown Mar-21
Creekside at the Hills 4609 Bee Caves Rd Southwest 31,460 58.5% Bogle Family Realty LLLP Jul-20
Building 3 1009 S Congress Ave South 30,468 100.0% Turnbridge Equities Jul-20
10029 Manchaca Rd 10029 Manchaca Rd South 30,000 100.0% Unknown Aug-21
The Hatchery 31 Navasota St East 27,631 0.0% Southwest Strategies Group Jul-20
826 Houston St 826 Houston St Central 22,909 0.0% Central Austin Management Group Oct-20

8. 8 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
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8 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2020 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Austin
111 Congress Avenue, Suite 750
Austin, Texas 78701
+1 512 539 3000
colliers.com/austin
FOR MORE INFORMATION
Kaitlin Holm
Research and Marketing Coordinator | Austin
+1 512 539 3021
kaitlin.holm@colliers.com
Ally Dorris
Associate | Austin
+1 512 539 3019
ally.dorris@colliers.com
8.0M SF
13.6% -276,569 SF
VACANCY NET ABSORPTION
CLASS A: 53% CLASS B: 42% CLASS C: 5%
TOTAL INVENTORY BY CLASS
-73%
ANNUALLY
-64%
QUARTERLY
AUSTIN
LEASING ACTIVITY
CURRENT
32M SF 25M SF
3M SF
TOTAL OFFICE
INVENTORY 61.7M SF
UNDER
CONSTRUCTION
7.04M SF
UP FROM
5.31M SF
IN Q1 2020
Q2 2020 386K SF
Q3 2019 1.0M SF
Q4 2019 836K SF
Q2 2019 1.4M SF
Q1 2020 1.0M SF
Q2 2020 Austin Office Highlights
QUOTED GROSS RENTAL RATES FOR EXISTING TOP PERFORMING OFFICE BUILDINGS
BUILDING NAME ADDRESS SUBMARKET RBA (SF)
YEAR
BUILT
%
LEASED
AVAIL.
SF
RENT
($/SF)
OWNER
7700 W Parmer Ln - Bldg B 7700 W Parmer Ln Far Northwest 335,138 1999 98.40% 5,373 $40.27 Accesso Partners LLC
Four Barton Skyway 1301 S Mo Pac Expy S Southwest 222,580 2001 96.90% 6,900 $51.81 Brandywine Realty Trust
University of Texas System 210 W 7th St CBD 342,000 2017 96.79% 109,566 $59.50 Board of Regents of the
University of Texas System
7700 W Parmer Ln - Bldg C 7700 W Parmer Ln Far Northwest 287,948 1999 96.64% 10,101 $41.48 Accesso Partners LLC
Austin Centre 701 Brazos St CBD 326,335 1986 96.27% 261,307 $52.46 Sidra Real Estate, Inc.
One Eleven Congress 111 Congress Ave CBD 518,385 1985 95.94% 165,792 $69.19 Cousins Properties Incorporated
San Jacinto Center 98 San Jacinto Blvd CBD 410,248 1987 95.77% 91,564 $64.79 Cousins Properties
Frost Bank Tower 401 Congress Ave CBD 535,078 2003 95.09% 103,431 $78.20 CalSTRS
University Park 3300 N Interstate 35 Central 206,657 2009 94.68% 128,321 $47.53 Hermes Real Estate Investment
Management Ltd
One American Center 600 Congress Ave CBD 543,521 1984 93.90% 222,929 $54.54 CalSTRS
100 Congress 100 Congress Ave CBD 412,960 1987 93.04% 49,396 $74.32 Invesco Ltd.
Note: Avail. SF includes direct and sublet space as well as any future available space listed.
Source: CoStar Property

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