BUSINESS: Downtown Austin Office Space For Rent Price & Cost Guide 2020 By Austin Tenant Advisors

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

Daniel Webster, dWeb.News Editor

October 14, 2021 18: 29 ET | Source: Austin Tenant Advisors

Austin, Oct. 14, 2021 (GLOBE NEWSWIRE) — AUSTIN, Texas – Austin Tenant Advisors, a trusted authority on commercial real estate availability, site selection, pricing and negotiation, has released its cost and pricing guide to renting office space in Downtown Austin as companies begin planning a return to in-person work. Companies can make informed decisions about office space by using the comprehensive cost guide. It includes detailed information about each building and its availability.

View the Downtown Austin Central Business District Office Space Report Here: https://www.austintenantadvisors.com/blog/office-space-cost-guide-downtown-austin-tx/

“As COVID-19 surged, available office space inventory skyrocketed and remained that way when many companies decided to delay their return to in-office work until January 2022,” said Austin Tenant Advisors Owner Nathan Smith. As the date nears, we are seeing an increase of office leasing activity as companies make plans to get back to business-as usual. This has resulted in the first decline in available office space inventory since the pandemic began.”

In the guide, Nathan Smith reports there are 74 office towers in the Downtown Austin Sub Market. This number is expected to rise as new office buildings are being built. Office space for rent in Downtown Austin includes new space and short term subleasing opportunities.

Cost Per Square Foot has a broad range from $31 to $80 sf. Austin Tenant Advisors Guide reports the average price per square foot is $59. 36 sf.

The updated Downtown Austin Cost Guide features six properties that represent a variety of building types and cost ranges with various features, amenities and square footage, including:

Frost Bank Tower – 401 Congress Ave.

One of the most recognizable and most expensive office skyscrapers in downtown Austin, this 33-story Class A building features 535,078 square feet of rentable space. Amenities include a 5,500 square foot fitness center with showers, a 50-seat conference center, bike storage, restaurants and a coffee shop. This building is a magnet for the elite tenants such as financial institutions, law firms and software companies, as well real estate investment companies. One of the costliest buildings in downtown Austin, rent is currently $79 per square foot gross.

600 Congress Ave.

Located in the center of downtown Austin, this building offers easy access to the old and new entertainment districts. Built in 1984 and remodeled in 2017, this is a 32-story Class A building with 503,951 of square feet available. Amenities include onsite management, bike storage, a 3,700 square-foot fitness center with showers and a coffee shop. It attracts a wide range of corporate and tech tenants, and the current asking price is $69 per square foot gross.

Capital Center – 919 Congress

Located one block from the State Capital, this 15-story tower offers 164,000 square feet of Class A office space. Built in 1984, amenities include a tenant lounge, conference room, and a fitness room with showers. This location is close to many restaurants and coffee shops. Lobbyists, law firms and financial institutions are some of the tenants. Average rent ranges from $58 to $65 per square foot depending on the office location within the building.

515 Congress Ave.

Located in the heart of downtown Austin, this 1975 building was the second building to surpass the State Capitol in height. Standing at 26 stories with more than 258,000 of rentable square feet, the typical floor plan is 14,000 square feet. More than $16 million in improvements were made to the tower, which now features a newly-renovated lobby, elevators, conference center, bike storage, fitness center and private showers. Prices range from $71 to $72 per square foot gross.

823 Congress Ave.

This 16-story building featuring 181,000 square feet of space offers the best value in Class A downtown Austin office space for lease. Built in 1974, it has been renovated and now boasts a fitness facility with showers and lockers, storage space, common area conference room and a tenant lounge. It is located just two blocks from Capitol Building and attracts law firms and lobbyists. Rent is currently $62 per square foot gross.

Perry Brooks – 720 Brazos St.

This historic 1954 building features 12 stories and 137,709 square feet that was renovated in 2010 to become a modern, energy-efficient Class A office tower. The State Capital and Austin’s central business district are all within walking distance. Floors 1-5 offer direct access to the garage with a $2 parking ratio. 79 per 1,000 square feet leased. Office space costs approximately $62 per square foot gross.

“For businesses gearing up to return to in-person work, now is the time to secure space in one of these coveted downtown Austin locations,” said Smith. “It’s great to see rental activity — a tremendous indicator that the worst of the pandemic is behind us and companies are eager to see employees interacting face-to-face once again.”

For more information about Austin Tenant Advisors, visit them online at https://www.austintenantadvisors.com/office-space/

About Austin Tenant Advisors

Austin Tenant Advisors is an independent and licensed no fee realtor with more than 16 years of experience representing businesses that lease office space in downtown Austin and the surrounding metropolitan area. Its mission is to assist companies in finding the perfect office space at the right price. This includes considering the location, budget, timing, and size. They provide unparalleled service and represent only tenants.

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For more information about Austin Tenant Advisors, contact the company here:

Austin Tenant Advisors
Austin Tenant Advisors
(512) 861-0525
info@austintenantadvisors.com
1300 Guadalupe St #250
Austin, Tx 78701

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Austin Tenant Advisors

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