Figures
Austin Office Figures - Q1 2025
April 8, 2025 5 Minute Read
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- The Austin office market experienced a slight slowdown in Q1 2025, with 131,274 square feet of negative absorption and a 29% drop in leasing activity compared to Q4 2024.
- Average gross asking rents across all class types increased by $0.10 per square foot quarter-over-quarter.
- As of March, more than 112 tenants are actively seeking space totaling over 3.75 million square feet. This represents a significant 33% increase in demand compared to Q4 2024
- One new project broke ground this quarter, the first office project in the Austin metro to break ground in nearly two years. The new development on St. Elmo Road is expected to bring 46,000 SF of creative office space and is expected to be completed by Q4 2025.
- Five projects completed construction this quarter, delivering nearly 300,000 square feet of new office space to the market.