Austin Office Market Report

Pre-leasing metrics underscore supply intake. Multiple 100,000-square-foot move-ins this year will aid the market in absorbing much of the incoming supply. Highlighting 2025 move-ins will be Apple completing their 369,000 square-foot campus expansion near Jollyville. The tech giant’s continued commitment to Austin may also draw supporting firms to the metro. Additionally, Vista Equity Partners and Kirkland & Ellis will together occupy fifty percent of the space within The Republic Tower when it opens downtown in October. During 2022, amid the evolving interplay of working habits, there was a shift toward suburban offices. Now that large firms are solidifying their stance in favor of traditional office use, trends may refocus on the CBD. At the onset of 2025, over 650,000 square feet of office space was already set to be absorbed in downtown Austin throughout the year, with more leases likely to be signed. This culture shift will likely lead to long-term changes, including lower vacancies in the CBD and lifted rental rates.