Austin, TX office market
Austin's office market remains tenant-favorable in mid-2026, with a citywide vacancy rate near 24-25% - one of the highest among major U.S. metros - giving tenants strong negotiating leverage on rents and concessions. Closed sale prices in 2025 averaged around $216/SF across all classes, above the national average of $192/SF, though individual deals ranged from under $130/SF for value-add suburban assets to over $400/SF for trophy downtown towers. Lease rates for Class A space run roughly $45-$65/SF full-service in the CBD and $28-$45/SF in suburban submarkets. A shrinking construction pipeline and early return-to-office mandates from major tech employers point toward gradual tightening of conditions through 2026 and into 2027.
What's driving Office prices in Austin
Austin office sale prices declined from a 2024 average of ~$403/SF (inflated by the $521.8M Block 185 trophy trade) to a 2025 average of ~$216/SF as institutional sellers like Starwood exited at deep discounts and value-add buyers dominated deal flow.
- Elevated overall vacancy (~24.6% as of early 2026) suppressing values and keeping buyers cautious
- Shrinking new construction pipeline (down 91% quarter-over-quarter in Q3 2025) reducing future supply pressure
- Return-to-office mandates from tech tenants (NVIDIA 230K SF expansion, NinjaOne HQ) absorbing sublease inventory
- Texas SB 840 enabling office-to-residential conversions creating optionality and floor for distressed asset pricing
Market intelligence
Tracking this market · 8 comps · latest deal Nov 2025.
This quarter: 0 comps added to our corpus in Q3 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
Momentum ContractingPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The shaded area is Austin's municipal boundary, coloured to match the momentum read above.
Recent Office comps in Austin, TX
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 301 Congress Ave, Austin, TX 78701 (Block 185) listing | Dec 2024 | Sale | 1291000 | $521,800,000 | $404 |
| 3300 N Interstate 35, Austin, TX 78722 (University Park) news | Q1 2025 | Sale | 206349 | $26,000,000 | $126 |
| 5707 Southwest Parkway, Austin, TX 78735 (Encino Trace I and II) news | Q3 2025 | Sale | 326852 | Undisclosed | |
| 7600 Chevy Chase Drive, Austin, TX 78752 (Chase Park) news | Q3 2025 | Sale | 313988 | Undisclosed | |
| 1250 S. Capital of Texas Highway, West Lake Hills, TX 78746 (Cielo Center) news | Nov 2025 | Sale | 286000 | Undisclosed (assessed taxable value ~$35M / ~$122/SF) | ~$122 (assessed) |
| 9001 N Interstate 35, Austin, TX 78753 (Northview Business Center) news | Q4 2025 | Sale | 261546 | Undisclosed | |
| 301 Congress Ave, Austin, TX 78701 (NinjaOne HQ) news | Q1 2025 | Lease | 60033 | Undisclosed (market rate; CBD Class A ~$59-$65/SF FS) | ~$59-$65/SF/yr (est.) |
| 3232 E Cesar Chavez St, Austin, TX 78702 listing | 2025 | Lease | 26207 | $42.00 - $45.00/SF/yr | $42-$45/SF/yr |
| Median of 3 recent sales · $126/SF | $126 | ||||
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Austin, TX, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.