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It’s no secret that East Austin is booming with development, both residentially and commercially.  But what is really happening in the submarket next door? As the area has seen drastic changes over the past several years, land prices are rising, development projects are coming to fruition, and the options for office leasing are becoming more diverse as well as expensive. East Austin was once marked by high crime and low housing prices but has developed into a place with the original quirky character of Austin still in-tact and proves to be a cultural haven for the up and coming generation of Austinites. The type of tenants you will see in this submarket are high-tech and rapidly growing companies in Austin, sometimes looking for lower pricing than the CBD, but yearning for a place near Austin’s buzzing downtown. The secret is out, below you can see what has recently delivered, projects under construction and proposed developments as well as what the East Austin boom has done to rates in the area.

 

Recent projects:

Foundry Cielo & CBRE 75,369 SF with 8,238 avail – delivering 6/2019 **Under Construction

Foundry II Cielo & CBRE 161,436 SF with 156,443 avail – delivering 6/2020 **Under Construction

Offices at Saltillo Endeavor Real Estate Group 150,000 SF– Delivering 6/2019 **Under Construction fully leased to Google

East 6 Aquila Commercial 115,000 SF – fully leased – delivering 12/2019 **Under Construction

901 E 6th   Endeavor Real estate Group 129,444 with 37,000 SF avail ***recently delivered

1801 E 6th Riverside Resources 134,367 SF w 16,568 SF avail ***recently delivered

Upcycle EverWest Real Estate Partners 81,711 SF *** recently delivered fully leased to HEB & Favor
 

Office Stats:

East Austin Office Market Q1 2016

# Buildings: 69

Total RBA: 2,376,897 sf

Vacancy: 31.3%

YTD Deliveries: 95,135 sf

Under Construction: 1,236,725 sf

Rates: $16.77

 

East Austin Office Market Now Q1 2019

# Buildings: 73

Total RBA: 3,021,034

Vacancy: 32.9%

YTD Deliveries: 134,367 sf

Under Construction: 648,324 sf

Rates: $43.78

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