Greg Johnson, Transwestern's vice president of leasing in Austin, tells GlobeSt.com that the occupancy levels range from 70% to 90%. Tenants range from warehouse, industrial and office users. Johnson says that in the flex-space market smaller spaces seem to be leasing well, but larger spaces "have to contend with of competition." Johnson and Tim Harrington are the leasing agents for the business parks.

Overall, there's a 17% vacancy rate for the Austin market's 12.6 million sf of flex and research and development space. Another 323,746 sf is under construction, split between 224,746 in the southeast submarket and 99,000 sf in the north submarket.

PS Business Parks is a publicly traded real estate investment trust based in Glendale, CA. It owns 14.8 million net rentable sf of commercial space with about 3,300 customers located in 9 states, including 2.9 million sf in Texas. It has 17 buildings in Austin.