AUSTIN (Austin Business Journal) – October 31, 2017 – Office rents in Austin have topped Seattle and the Silicon Valley, according to CommercialCafe’s latest report.
A tenant spending $5,000 per month for Class A office space can get 1,087 sf in the Capital City. That trails only Boston, where you could afford 1,006 sf; Washington, D.C. (849 sf); San Francisco (803 sf); and New York City (703 sf).
In Houston, $5,000 could get you 1,337 sf, and in Dallas 2,012 sf. For that same amount, you can rent 2,226 sf in San Antonio.
Office vacancies were at 10.5 percent across the Austin metro in the third quarter, according to Cushman & Wakefield. The asking rate for Class A space is at an all-time high of $55.77 per sf.