Office Market Hits All-Time Highs in Austin

AUSTIN–Rental rates in the city’s office market have hit another all-time high.

Those rates, which bottomed out in late 2011, rose throughout 2013, and have been skyrocketing in 2015. According to Cushman & Wakefield/Oxford Commercial’s (CWOC) third-quarter report, the overall current office rental rate shot up to $33.02 per square foot – which translates to a 13.2 percent increase over this time last year, when the rate was $29.17. That figure is also the highest rate CWOC has ever recorded since it started tracking the stats in the early 1990s.

 

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