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Austin 2022 Q2 Market Report

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TAKEAWAYS

  • The overall average asking rental rate in the Austin office market remained flat in Q2 2022 at $44.11 per square foot but this was a decrease of 1.0% from the previous year
  • The Austin office market has over 1.6 million square foot of office space under construction, mainly driven by the technology, advertising, media and information sector
  • The leasing activity in the past quarter has softened as anxiety about a recession has increased with high inflation and interest rate increases by the Federal Reserve expected to continue

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