Texas Office Market · Austin
Austin office space for lease.
What's available, what it costs, and how CRECO works the market.
In short: Austin's office market is the most bifurcated in Texas — trophy Class A in the CBD and the Domain holds tenancy at $55-75/SF FSG with sub-15% vacancy, while non-trophy Class A and the Class B set sit at 25-35% vacancy with concession depth a tenant hasn't seen in this market in a decade.
Full-Service Brokerage
Who CRECO represents in Austin
CRECO represents tenants, landlords, owners, and investors — for lease and for sale — across retail (including restaurant space and pad sites), office (including medical office), industrial, flex, and land.
Tenants & buyers
Businesses leasing or buying retail, restaurant, office, medical office, industrial, or flex space in Austin — site selection, negotiation, and lease or purchase execution. Tenant rep is typically paid by the landlord.
Landlords & owners
Owners leasing or selling commercial property and land in Austin — pricing, marketing, tenant and buyer sourcing, negotiation, and property management.
Sellers & investors
Investment sales and acquisitions, 1031 exchange replacement property, and hold/sell analysis for commercial investors in Austin and across Texas.
Intermediary, when authorized
When both parties authorize it in writing, CRECO can act as an intermediary between landlord and tenant or seller and buyer, as Texas law permits.
Key takeaways
- Austin is the most tenant-favorable major Texas office market — TI packages on Class A 10-year deals are running $80-120/SF with 8-15 months of free rent.
- Trophy Class A in the CBD and the Domain is a distinct micro-market from the rest of Austin office — vacancy under 15% and rents pushing the top of the historical band.
- East Austin creative office is the highest-demand non-trophy submarket; rents per SF often exceed comparable space in the Domain.
- Class B is where the realized leverage is — vacancy in the high 20s / low 30s, realized rates 10-15% below asking, conversion-to-residential math under active review on several assets.
- Sublease inventory remains elevated (~4M SF Class A sublease). For 5-15K SF requirements, subleases often beat direct deals on economics — but watch the term-remaining.
Market Context
The Austin office market today.
Austin overbuilt office through 2020-2023 and is now working through the resulting oversupply. The result is the most tenant-favorable major Texas office market — TI packages, free rent, and effective rents all reflect a cycle that's deeply favorable to tenants who can move now. Class A 10-year deals routinely close with $80-120/SF TI and 8-15 months of free rent in 2026 — historic numbers in any market, and historic specifically for Austin.
The bifurcation is the critical detail. Trophy Class A in the CBD (the highrises) and the Domain (the West Lake / North Austin trophy set) operates as a distinct micro-market: vacancy under 15%, asking rents at the top of the historical $55-75/SF FSG band, and tenant credit quality high enough that landlords can still be selective. Non-trophy Class A — everything one step down — runs ~25-30% vacancy and is fully in tenant-favorable territory.
East Austin creative office is a separate story. The adaptive-reuse warehouses and small-floorplate creative assets in East Austin have held demand from the design / tech-services / agency set; rents per SF on these assets often exceed comparable space in the Domain. The math reflects neighborhood preference, not the underlying market dynamics.
For 2026 specifically: tenants with leases expiring 2027 should be in the market now — the concession depth is unlikely to deepen from here as the worst of the oversupply absorbs, and rent pushes are starting to appear on the trophy floor plates. For investors, the Class B conversion-to-residential plays are starting to pencil where they didn't in 2023; expect transaction volume in the Class B set to pick up through year-end.
Where to Look
Austin office submarkets we cover.
Downtown / CBD
Trophy highrise + premium rents
The CBD trophy highrises operate as a distinct micro-market — sub-15% vacancy, asking $55-75/SF FSG, deep tenant credit. The non-trophy CBD is materially softer.
The Domain
Trophy mixed-use, North Austin
Master-planned trophy mixed-use in North Austin. Holds tenancy; comparable economics to CBD trophy. Walkable density + retail + multifamily-adjacent.
East Austin
Creative office + adaptive reuse
Adaptive-reuse warehouses and small-floorplate creative office. Rents per SF often exceed the Domain. Highest-demand non-trophy submarket in Austin.
Northwest / Arboretum
Class A value, suburban
Suburban Class A north of the river. Tenant-favorable economics; some of the deepest concessions in Austin. Value play for budget-conscious tenants.
South Austin
Class A, mixed-use growth
South Lamar + East Riverside corridors. Growing mixed-use trophy set; concessions still tenant-favorable. Walkable to growing residential base.
Round Rock / Pflugerville
Class A suburban + BTS
Suburban Class A north of the metro. Build-to-suit opportunities for 50K SF+ users. Lower basis than the Domain with comparable building quality.
CRECO Approach
How we work Austin office deals.
Tenant rep on Austin office is where the leverage is most extreme right now. CRECO runs structured processes that take the most realistic 6-10 candidate properties — across trophy, non-trophy, and quality sublease — and put them in direct competition. The result is typically TI 15-25% above the landlord's initial offer, free rent at the top of the band, and effective rents that compound those advantages over a 7-10 year hold.
For Austin office owners, our owner services practice runs hold-vs-sell-vs-reposition analysis with cold-eyed honesty about the bifurcation. Trophy holds: the market is selectively recovering and the bid for the right asset is real. Non-trophy Class A: more often the right answer is hold-and-stabilize through the cycle. Class B: the conversion math is becoming credible on more assets than it was a year ago.
Investment advisory on Austin office in 2026 is opportunity-driven. The transactions that work are value-add buys at meaningfully discounted basis with a credible repositioning story — or trophy buys at firmed cap rates from sellers who didn't underwrite the cycle. CRECO's role is to find the angles the public marketplaces don't surface.
Why CRECO for Austin office.
- Austin office concession data from the deals CRECO is actually closing each quarter — not aggregated marketplace summaries
- Direct landlord-rep relationships across the CBD trophy set + Domain + East Austin creative
- Knowledge of the trophy contiguous floor plates that aren't yet on the market
- Represents tenants, landlords/owners, and investors — including tenant rep for Austin businesses (typically paid by the landlord)
- Cold-eyed sublease evaluation — many subleases beat direct deals on economics, but term-remaining matters
- Texas-wide network for tenants with Austin + multi-city footprints
- Our team works every engagement directly
Available Now
Austin office listings represented by CRECO
Live CRECO inventory for office space in the Austin area. Tenant-rep clients also get access to every other option on the market.
Let’s find your office space in Austin
CRECO searches the full Austin office market for tenant-rep clients — including off-market space that never gets posted. Tell us your size, submarket and timing, or call (210) 817-3443.
A lot of Texas office space never reaches a listing site. Owners who haven’t gone to market, space coming available next quarter, and options we hear about from other brokers first — those are the ones worth a phone call.
Zachary Stovall is as straight shooting and upstanding a person as you will find. I definitely recommend you use him for any of your commercial property management needs.
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Mr. Stovall and team are stand up people that do what they say they will do! They are knowledgeable and very capable of assisting you with your commercial property needs.
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“Great company.”
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Austin office space — FAQ
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Leasing, buying, or selling office property in Austin?
Tenants: we filter the market to the 4-5 properties worth a tour, typically at no cost to you. Owners and investors: we lease and sell office property in Austin.
Send me office optionsSources & methodology
Market figures on this page — rents, vacancy, absorption, cap rates, pricing, and inventory — are CRECO market estimates, as of June 2026. They are not attributed to a third-party research provider or data service, have not been independently verified, and are approximate; published market reports may differ. For current figures on a specific property or submarket, talk to our team at (210) 817-3443 or info@crecotx.com.