MARKET TRENDS
- The vacancy rate held steady at 16.1% for the second consecutive quarter, marking the first pause in vacancy growth since 2023. However, the market remains tenant-favorable.
- Deliveries totaled 2.6 million square feet (msf) year to date, down 5.4 msf from the same period last year. Nearterm deliveries should remain muted before rebounding as construction activity increases.
- The Georgetown/Round Rock submarket accounted for nearly 1.0 msf of positive net absorption while maintaining the Austin market's largest construction pipeline.