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Austin Jettisons to 18-Hour City Level

AUSTIN, TX—Due to robust employment growth, Austin's office market is setting record highs in absorption and rents, while reaching new post-recession vacancy lows, joining the ranks of America's major cities.

By Lisa Brown | lisabrown | Updated on May 09, 2016

500 West Second 500 West Second is currently under development by Trammell Crow Company.

AUSTIN, TX—Record-setting office market performance and the increasing adoption of co-working spaces are just two of the six trends transforming Austin into an 18-hour city. During the past decade, Austin has evolved from “college town” status into a dynamic metro with a dense urban core.

“An urban renaissance is happening in Austin, a city once almost exclusively driven by the public sector. The new era of technology is supporting job and population growth, real estate development and sector diversity, along with a wealth of homegrown retailers that are elevating Austin’s brand outside the city limits,” says Robert Kramp, director of research and analysis, CBRE.

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