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Austin Office Market Report | Q1 2021 | Colliers

eTradeWire News/10624578
Research & Forecast Commercial Real Estate Report | Austin | Colliers

AUSTIN, Texas - eTradeWire -- As the US economy recovers from the COVID-19 pandemic, the Austin market is beginning to show signs of life. Our team continues to see heavy demand for both industrial and investment products, however, rebounding office activity remains the highlight of the quarter. Over the past 60 days, office property tours have increased three-fold, long postponed leases have been inked and discussions with C-Suite executives considering a move to the city have swelled. Additionally, many Austin companies will likely start reoccupying their offices this summer/fall, a clear indication that the market is correcting more quickly than initially expected.

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As Austin began to wake up from the winter slumber and employees began to peek behind the curtains of their home office, Winter Storm Uri swept through Texas in mid-February and put a freeze on leasing and sales activity for almost two weeks as millions of Texans battled through the aftermath of unfamiliar weather. As evident by the Bluebonnets blooming though, Texas remained resilient and pushed through to a warmer (and vaccinated) environment, where Austin continues to remain toward the top of the list for institutional investments, office expansions and headquarter relocations.

Read more at https://www.colliers.com/en/research/austin/2021-q1-office-austin-report

John O'Sullivan

Source: Colliers International
Filed Under: Real Estate

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