The decade ends with even more construction in Austin’s office market

1. Research &
Forecast Report
AUSTIN | OFFICE
Q4 2019
Kaitlin Holm Research and Marketing Coordinator | Austin
Boots On The Ground Commentary by Ally Dorris
Our “Boots on the Ground” viewpoint is the voice of our experts, who
have broken down the market data and compared it to what they are
seeing for themselves. This is their take on what the numbers actually
mean for the Austin office market.
As anticipated, based on the last five years’ worth of quarterly
reports, the Austin commercial market closed out the decade firing
on all cylinders. Q4 of 2019 was the cherry on top of another year
of growth and development in the Texas capitol city. As venture
capital funding hit a record high of $2.2 billion, construction
continues and more cranes pop up all over the city, there is no sign
of slowing down in this tech hub as we enter into the new age-
20’s.
This last quarter unveiled a lot of what is to come in the next cycle
of developments, especially in downtown. Avid, local developer,
Endeavor, acquired more prominent land near the CBD that is ripe
for redevelopment. Purchases include a high-profile retail center
at 6th Street and Lamar Boulevard that houses the well-known
record store, Waterloo Records and one of ELM Restaurant Group’s
popular eateries, 24 Diner, also included is the land that sits under
Aussie’s and Zax Restaurant, both of which are in the heart of
the South Central Waterfront. Cielo also made another splash in
Austin’s development pool with the purchase of a 0.81-acre tract
at 5th and Brazos. The tract, improved with 39 condominium units,
was reportedly purchased for $55,000,000. Cielo’s press release
indicated it could be built up to about 885,000 square feet.
As the acquisitions of Austin’s limited land continues, construction
marches on with more ground breaking ceremonies taking place,
including 701 Rio, the 120,000 SF office building that sits one block
from the West 6th Entertainment District, as well as Aquila’s new
east side project known as Eastlake at Tillery. Construction also
began on the University of Texas’s highly anticipated Moody Center,
a 10,000-seat arena which will be the new home for Longhorn
basketball games and other major events.
The decade ends with even more
construction in Austin’s office market
Future Forecast
While the loudest buzz is in downtown, Austin’s periphery is in the
growth path as well. Amazon has proposed an extraordinary 3.8
million square foot distribution center in Pflugerville. On top of that,
an additional 120 acres is rezoned for a mixed-use development in
Pflugerville, deemed NorthPointe. Williamson County’s popularity
has sky-rocketed thanks to new developments on the horizon
like the one billion dollar Apple campus. According to the Texas
Demographic Center, the population of the North Austin/Round
Rock metro will top 1.6 million by 2050, which would quadruple the
number at the start of the decade, which was 422,679.
By The Numbers - Austin’s Office Market
TOTAL INVENTORY
59.3M SF
TOTAL VACANCY
11.9%
Q4 NET ABSORPTION
-315,567 SF
YTD NET ABSORPTION
-595,543 SF
TOTAL UNDER
CONSTRUCTION
7.15M SF
TOTAL PRE-LEASED
2.38M SF
CBD CLASS A
$60.61as tracked by Colliers
SUBURBAN CLASS A
$38.10
AVERAGE
RATE/SF
$35.84
Rates inclusive of estimated operating expenses. Average rates include
sublease rates, which are much lower than direct rates.

2. 2
Austin Office Overview
In the fourth quarter of 2019, Austin’s office market reported
315,567 SF of negative net absorption. A large amount of the
negative absorption occurred in Class B buildings with a total
of 229,982 SF of negative net absorption. Class A buildings in
Austin posted 59,537 SF of negative net absorption, while Class C
properties recorded 26,048 SF of negative net absorption.
Currently, 7,159,195 SF of office space is under construction and
2,386,911 SF of that is pre-leased. The first quarter of 2020 is
expected to record 2,155,243 SF of deliveries and 1,248,873 SF
of that is pre-leased. One of the buildings set to deliver in the first
quarter of 2020 is Domain 10. The entire 299,673 SF building is
100% leased with Amazon taking at least 252,267 SF.
Rollingwood Town Center III in the Southwest submarket was
the largest building to deliver in the fourth quarter. This 128,000
SF building delivered in December and is 100% leased. One of
the tenants that pre-leased at the newest Rollingwood building is
Greystar, leasing 18,328 SF. The first quarter of 2020 is expected
to see sixteen new buildings come online.
The citywide average rental rate increased over the quarter from
$35.51 per SF in Q3 2019 to $35.84 per SF in Q4 2019. Class A
rental rates in Austin’s CBD increased by 7.8% over the quarter
to $53.33 per SF up from $49.47 per SF in the third quarter of
2019. The overall suburban Class A rental rate also increased, from
$37.83 per SF to $38.10 per SF, over the quarter.
In December, CompTIA announced that Austin has been ranked
the number one Tech Town, moving up from number three in 2018.
CompTIA’s index looks at tech job postings, wages, cost of living,
projected job growth, etc to create the ranking. The report stated,
“Austin’s reputation for ‘weirdness’ is among the many reasons
newbie tech companies are choosing it as their home base, with the
hope that the city’s progressive culture and out-of-the-box thinking
will inspire innovation”. Austin ranked first in front of Raleigh (NC),
San Jose (CA), Seattle (WA) and San Francisco (CA).
Vacancy & Availability
Austin’s citywide vacancy rate increased from 11.2% in the third
quarter of 2019 to 11.9% in the fourth quarter of 2019. The North/
Domain submarket’s Class C vacancy rate had the largest jump in
vacancy moving from 0% in Q3 2019 to 34.3% in Q4 2019. This
was caused entirely by 15,363 SF being vacated at the Epoch
Building (2404 Rutland Drive).
The largest decline in vacancy happened in the Class B Far
Northeast submarket, where the rate decreased from 22.5% to
15.7%, which is due to 23,770 SF at Tower of the Hills (13809
Research Boulevard) being taken off the market.
Overall suburban vacancy increased quarter over quarter from
12.5% in Q3 2019 to 13.2% in Q4 2019, and the CBD’s vacancy rate
also rose over the quarter from 5.9% to 6.8%.
2 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
Market Indicators
Relative to prior period
Annual
Change
Quarterly
Change
Quarterly
Forecast*
VACANCY
NET ABSORPTION
NEW CONSTRUCTION
UNDER CONSTRUCTION
*Projected
Summary Statistics
Austin Office Market Q4 2018 Q3 2019 Q4 2019
Vacancy Rate 9.9% 11.2% 11.9%
Net Absorption
(Million Square Feet)
.642 -.989 -.315
New Construction
(Million Square Feet)
1.45 .781 1.88
Under Construction
(Million Square Feet)
4.26 5.74 7.15
Class A Vacancy Rate
CBD
Suburban
5.9%
11.2%
6.2%
14.9%
7.1%
15.3%
Gross Asking Rents
Per Square Foot Per Year
Average $35.98 $35.51 $35.84
CBD Class A $51.85 $49.47 $53.33
Suburban Class A $37.91 $37.83 $38.10
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Net Absorption New Supply Vacancy
ANNUAL ABSORPTION, NEW SUPPLY, AND VACANCY

3. $0.00
$10.00
$20.00
$30.00
$40.00
$50.00
CBD Rents Suburban Rents
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
CBD Vacancy Suburban Vacancy
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
Net Absorption New Supply Vacancy
Absorption & Demand
Austin’s office market posted 315,567 SF of negative net absorption
in Q4 2019. Only five submarkets experienced positive absorption
over the quarter, including Central, East, Far Northeast, South and
Southwest.
A large amount of the negative net absorption over the quarter
occurred in the Class A Northwest submarket, totaling 454,460
SF of negative absorption. In December, Nokia put 39,117 SF of
it’s space at Cisco Systems Office Park (12515 Research Blvd)
on the market for sublease. An additional 22,292 SF was put
on the sublease market at Stonebridge Plaza I (9606 N MoPac
Expressway. In all, 249,699 SF became available in the Class A
Northwest submarket.
The Southwest submarket helped bring the absorption number
closer to zero with 129,470 SF of positive net absorption. The
majority of the absorption in the Southwest submarket happened
in Class A space and can be partially attributed to Advanced
Micro Devices moving into its 25,938 SF space at 7171 Southwest
Parkway (Building 3).
The Austin market recorded thirty-seven leases over 10,000 SF
each in the fourth quarter with a large renewal leading the way.
Farm Credit Bank of Texas signed a renewal for their 103,453
SF space at the Plaza on the Lake II (4801 Plaza on the Lake
Drive), while the State of Texas inked a new deal for 48,079 SF in
Promontory Point B (2420 Ridgepoint Drive).
Rental Rates
According to CoStar, our data provider, Austin’s citywide average
rental rate increased 0.93% over the quarter from $35.51 per SF to
$35.84 per SF.
The highest rental rates across the Austin office market in the
fourth quarter were in CBD Class A buildings where net rental rates
average $53.33 per SF. Rental rates were also high in the South
submarket where Class A rental rates reached $46.17 per SF.
Citywide Class B rental rates rose marginally in Q4 2019 to $32.09
per SF from $31.30 per SF in Q3 2019. CBD Class B rental rates
increased by 2.6% over the quarter from $49.33 per SF to $50.61
per SF in Q4 2019.
3 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
UNEMPLOYMENT 12/18 12/19
AUSTIN 2.7% 2.4%
TEXAS 3.6% 3.3%
U.S. 3.7% 3.4%
JOB GROWTH
Annual
Change
# of Jobs
Added
AUSTIN 3.5% 38K
TEXAS 2.7% 344K
U.S. 1.4% 2.1M
CBD vs. Suburban
CLASS A OFFICE VACANCY
CLASS A OFFICE RENTS
Job Growth & Unemployment
(not seasonally adjusted)
QUARTERLY ABSORPTION, NEW SUPPLY, AND VACANCY

4. 44 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
Q4 2019 Top Office Lease Transactions
BUILDING ADDRESS SUBMARKET SF LEASE DATE
4801 Plaza On The Lake Dr1
Southwest 103,453 Oct-19
2500 Bee Caves Rd Southwest 62,079 Nov-19
12301 Research Blvd2
Northwest 49,312 Dec-19
2420 Ridgepoint Dr Northeast 48,079 Nov-19
2500 Ridgepoint Dr2
Northeast 46,893 Nov-19
13620 Briarwick Dr Far Northwest 44,634 Dec-19
13609 N IH-35 Northeast 35,000 Oct-19
1600 E 4th St East 33,291 Nov-19
10801 N MoPac Expy North/Domain 29,220 Dec-19
1221 S Congress Ave South 26,951 Nov-19
7600 Capital Of Texas Hwy N Northwest 23,262 Nov-19
8310 N Capital Of Texas Hwy Northwest 19,832 Oct-19
2525 Brockton Dr North/Domain 19,163 Dec-19
1009 S Congress Ave South 18,903 Oct-19
300 W 6th St CBD 17,738 Nov-19
9430 Research Blvd Northwest 16,607 Oct-19
303 Colorado St CBD 14,700 Dec-19
1250 S Capital Of Texas Hwy Southwest 14,450 Dec-19
515 Congress Ave CBD 13,989 Oct-19
201 W 5th St2
CBD 12,421 Nov-19
9600 N MoPac Expy Northwest 11,938 Oct-19
3305 Steck Ave Central 11,764 Oct-19
Leasing Activity
Austin’s office market recorded 836,056 SF of leasing activity in Q4 2019. Major transactions this quarter included Farm Credit Bank of
Texas’s lease renewal for 103,453 SF at 4801 Plaza on the Lake Drive and the State of Texas leasing 48,079 SF at Promintory Point B
(2420 Ridgepoint Drive).
1
Renewal 2
Sublease
Q4 2019 Significant Sales Transactions – (100,000 SF or greater)
BUILDING ADDRESS SUBMARKET RBA (SF) YEAR BUILT BUYER SELLER SALE PRICE $/SF CLOSED
618 Tillery St 1
East 187,155 1973 CIM Group LP Peter E Barlin Undisclosed N/A Oct-19
712 Huntland Dr E Central 103,808 1972 Karlin Real Estate
Southwestern Bell
Telecommunications,
Inc
$14,000,000 $134.86 Nov-19
8200 N Mopac Expy Northwest 133,568 1981
OP 8200 Mopac
Property LLC
David M Nordeen Undisclosed N/A Dec-19
Sales Activity
Austin’s office investment sales activity in Q4 consisted of three building transactions, including one portfolio transaction. In October, CIM
Group purchased 618 Tillery Street, along with two other creative office buildings in the East submarket, from Peter Barlin. 618 Tillery
Street was the largest building in the portfolio at 187,155 SF. In November, Karlin Real Estate purchased 712 Huntland Drive East for
$14,000,000, or $134.86 per SF. Karlin Real Estate purchased the 103,808 SF building from Southwestern Bell Telecommunications, Inc.
Sources: CoStar and Real Capital Analytics
1
Part of a portfolio

5. 5 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
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Chart Title–One Line
Chart Title
SUBHEAD 1 SUBHEAD 1 SUBHEAD 1 SUBHEAD 1
Body
INVENTORY DIRECT VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%)
NET ABSORPTION
(SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q4-2019 Q3-2019 Q4-2019 Q3-2019
AVG ($/
SF)
CBD
A 32 8,150,669 400,887 4.9% 178,632 2.2% 579,519 7.1% 6.2% -72,128 -23,792 $53.33
B 34 2,703,609 160,968 6.0% 24,591 0.9% 185,559 6.9% 5.9% -25,266 -10,714 $50.61
C 10 631,980 10,555 1.7% 4,537 0.7% 15,092 2.4% 1.5% -5,390 18,596 $25.35
Total 76 11,486,258 572,410 5.0% 207,760 1.8% 780,170 6.8% 5.9% -102,784 -15,910 $51.58
SUBURBAN
A 206 23,685,397 3,232,679 13.6% 382,573 1.6% 3,615,252 15.3% 14.9% 12,591 -1,120,479 $38.10
B 415 21,560,352 2,120,286 9.8% 355,573 1.6% 2,475,859 11.5% 10.5% -204,716 151,139 $30.54
C 60 2,574,708 209,895 8.2% 2,100 0.1% 211,995 8.2% 7.4% -20,658 -4,580 $26.66
Total 681 47,820,457 5,562,860 11.6% 740,246 1.5% 6,303,106 13.2% 12.5% -212,783 -973,920 $34.15
OVERALL
A 238 31,836,066 3,633,566 11.4% 561,205 1.8% 4,194,771 13.2% 12.6% -59,537 -1,144,271 $39.88
B 449 24,263,961 2,281,254 9.4% 380,164 1.6% 2,661,418 11.0% 10.0% -229,982 140,425 $32.09
C 70 3,206,688 220,450 6.9% 6,637 0.2% 227,087 7.1% 6.3% -26,048 14,016 $26.58
Total 757 59,306,715 6,135,270 10.3% 948,006 1.6% 7,083,276 11.9% 11.2% -315,567 -989,830 $35.84
INVENTORY
DIRECT
VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%) NET ABSORPTION (SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q4-2019 Q3-2019 Q4-2019 Q3-2019
AVG ($/
SF)
CEDAR PARK
A 6 555,222 69,515 12.5% 5,000 0.9% 74,515 13.4% 12.5% -5,000 0 $29.98
B 8 348,822 18,625 5.3% 9,405 2.7% 28,030 8.0% 8.6% 1,938 36 $27.11
Total 14 904,044 88,140 9.7% 14,405 1.6% 102,545 11.3% 11.0% -3,062 36 $27.82
CENTRAL .
A 6 640,288 21,805 3.4% 37,960 5.9% 59,765 9.3% 6.4% -18,644 -4,188 $42.21
B 41 2,198,429 206,902 9.4% 0 0.0% 206,902 9.4% 11.5% 45,224 -14,885 $32.12
C 13 737,133 19,332 2.6% 900 0.1% 20,232 2.7% 2.8% 228 -6,071 $23.52
Total 60 3,575,850 248,039 6.9% 38,860 1.1% 286,899 8.0% 8.8% 26,808 -25,144 $32.23
EAST
A 6 431,301 9,875 2.3% 0 0.0% 9,875 2.3% 6.4% 17,933 96,865 $41.69
B 16 902,658 59,184 6.6% 4,960 0.5% 64,144 7.1% 8.4% 11,801 6,281 $40.47
C 7 271,235 11,924 4.4% 1,200 0.4% 13,124 4.8% 7.4% 7,057 -6,118 $36.35
Total 29 1,605,194 80,983 5.0% 6,160 0.4% 87,143 5.4% 7.7% 36,791 97,028 $38.64
FAR NORTHEAST
B 3 94,996 14,923 15.7% 0 0.0% 14,923 15.7% 22.5% 6,473 -2,666 $27.38
Total 3 94,996 14,923 15.7% 0 0.0% 14,923 15.7% 22.5% 6,473 -2,666 $27.38
FAR NORTHWEST
A 13 1,889,243 270,898 14.3% 27,900 1.5% 298,798 15.8% 13.7% -40,240 15,969 $33.61
B 13 1,242,501 36,551 2.9% 55,291 4.4% 91,842 7.4% 5.0% -30,174 3,506 $27.19
C 2 77,864 1,180 1.5% 0 0.0% 1,180 1.5% 1.5% 0 0 $22.48
Total 28 3,209,608 308,629 9.6% 83,191 2.6% 391,820 12.2% 10.0% -70,414 19,475 $32.54
Austin Suburban Office Market Summary
Austin Office Market Summary (CBD, Suburban, & Overall)

6. 6 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
Austin Suburban Office Market Summary - Continued
INVENTORY DIRECT VACANCY
SUBLEASE
VACANCY
VACANCY VACANCY RATE (%)
NET ABSORPTION
(SF)
RENTAL
RATE
CLASS
# OF
BLDGS
TOTAL (SF) (SF)
RATE
(%)
(SF)
RATE
(%)
TOTAL
(SF)
Q4-2019 Q3-2019 Q4-2019 Q3-2019
AVG ($/
SF)
NORTH/DOMAIN
A 18 2,697,190 88,754 3.3% 1,927 0.1% 90,681 3.4% 4.0% 18,338 -43,953 $39.23
B 46 2,530,745 296,335 11.7% 20,363 0.8% 316,698 12.5% 11.9% -16,597 22,250 $28.36
C 2 44,759 15,363 34.3% 0 0.0% 15,363 34.3% 0.0% -15,363 0 $27.98
Total 66 5,272,694 400,452 7.6% 22,290 0.4% 422,742 8.0% 7.8% -13,622 -21,703 $33.55
NORTHEAST
A 4 353,065 30,993 8.8% 47,090 13.3% 78,083 22.1% 0.7% -75,564 2,710 $24.07
B 20 1,296,663 122,344 9.4% 174,535 13.5% 296,879 22.9% 23.1% 3,112 68,130 $22.63
C 6 226,421 78,799 34.8% 0 0.0% 78,799 34.8% 34.8% 0 0 $22.70
Total 30 1,876,149 232,136 12.4% 221,625 11.8% 453,761 24.2% 20.3% -72,452 70,840 $22.78
NORTHWEST
A 71 7,895,277 1,949,188 24.7% 130,608 1.7% 2,079,796 26.3% 25.8% -45,460 -1,197,860 $37.87
B 111 5,027,676 588,883 11.7% 48,638 1.0% 637,521 12.7% 10.8% -95,094 90,614 $31.66
C 5 115,405 2,976 2.6% 0 0.0% 2,976 2.6% 2.1% -516 3,642 $28.33
Total 187 13,038,358 2,541,047 19.5% 179,246 1.4% 2,720,293 20.9% 19.8% -141,070 -1,103,604 $34.72
ROUND ROCK
A 10 886,438 124,376 14.0% 7,597 0.9% 131,973 14.9% 17.2% 20,346 -975 $33.13
B 20 827,829 83,016 10.0% 9,855 1.2% 92,871 11.2% 7.4% -31,640 -9,414 $26.18
C 6 219,274 0 0.0% 0 0.0% 0 0.0% 0.0% 0 0 $24.00
Total 36 1,933,541 207,392 10.7% 17,452 0.9% 224,844 11.6% 11.0% -11,294 -10,389 $30.95
SOUTH
A 6 485,993 5,764 1.2% 0 0.0% 5,764 1.2% 1.0% -1,069 14,057 $46.17
B 29 1,352,772 57,473 4.2% 0 0.0% 57,473 4.2% 5.1% 11,997 -266 $32.58
C 10 554,985 19,570 3.5% 0 0.0% 19,570 3.5% 2.3% -6,541 3,339 $27.30
Total 45 2,393,750 82,807 3.5% 0 0.0% 82,807 3.5% 3.6% 4,387 17,130 $36.74
SOUTHEAST
A 4 623,789 181,895 29.2% 0 0.0% 181,895 29.2% 31.6% 15,156 -40,000 $31.05
B 20 2,141,486 360,088 16.8% 0 0.0% 360,088 16.8% 12.0% -102,462 -7,236 $26.39
C 5 184,362 49,914 27.1% 0 0.0% 49,914 27.1% 24.1% -5,523 511 $28.74
Total 29 2,949,637 591,897 20.1% 0 0.0% 591,897 20.1% 16.9% -92,829 -46,725 $29.90
SOUTHWEST
A 57 6,637,141 450,528 6.8% 89,379 1.3% 539,907 8.1% 8.4% 133,330 66,876 $42.74
B 79 3,040,849 236,848 7.8% 32,526 1.1% 269,374 8.9% 8.7% -3,860 -4,063 $33.73
C 3 93,138 6,278 6.7% 0 0.0% 6,278 6.7% 6.7% 0 0 $30.36
Total 139 9,771,128 693,654 7.1% 121,905 1.2% 815,559 8.3% 8.5% 129,470 62,813 $39.72
WEST CENTRAL
A 5 590,450 29,088 4.9% 35,112 5.9% 64,200 10.9% 9.8% -6,535 -29,980 $43.91
B 9 554,926 39,114 7.0% 0 0.0% 39,114 7.0% 6.1% -5,434 -1,148 $37.34
C 1 50,132 4,559 9.1% 0 0.0% 4,559 9.1% 9.1% 0 117 -
Total 15 1,195,508 72,761 6.1% 35,112 2.9% 107,873 9.0% 8.0% -11,969 -31,011 $38.78

7. 7 Austin Research & Forecast Report | Q4 2019 | Office | Colliers International
Office Development Pipeline
7,159,195 SF of office space was under construction during Q4 2019. Eight buildings delivered in Q4, with the largest being Rollingwood
Town Center III. This 128,000 SF building was 100% leased at delivery and two floors, approximately 50,000 square feet, will be occupied
by Gartner. 33% of all space under construction is already pre-leased and over 2,000,000 SF is set to deliver in Q1 2020.
BUILDING NAME ADDRESS SUBMARKET SF
PRE-
LEASED
DEVELOPER
EST.
DELIVERY
Offices At Saltillo 901 E 5th St East 150,000 100.0% Endeavor Real Estate Group Jan-20
Building 3 1009 S Congress Ave South 30,468 100.0% Endeavor Real Estate Group Jan-20
Domain 12 11800 Alterra Pky North/Domain 320,102 100.0% TIER REIT, Inc. Jan-20
Junior League of Austin 5334 Bluffstone Ln Northwest 48,000 100.0% Unknown Jan-20
Domain 10 11815 Alterra Pky North/Domain 299,673 100.0% Endeavor Real Estate Group Jan-20
Parmer 4.1 Parmer 4.1 Northeast 196,000 3.6% Trammell Crow Company Jan-20
618 Tillery St 618 Tillery St East 187,155 0.7% Unknown Jan-20
The Grove - Block 1 4301 Bull Creek Rd West Central 134,114 0.0% Castletop Capital Jan-20
Parmer Sector 4.2 Parmer 4.2 Northeast 118,000 4.5% Trammell Crow Company Jan-20
Domain W4 11600 Rock Rose Ave North/Domain 16,327 65.0% Endeavor Real Estate Group Jan-20
Highland 3 523 E Highland Blvd Central 250,000 100.0% Unknown Feb-20
Paloma Ridge Building C 13620 Ranch Road 620 N Far Northwest 165,714 16.5% Unknown Feb-20
The Grove - Block 2 2117 Perseverance Dr West Central 134,114 65.0% Castletop Capital Feb-20
WestPark Professional Building 2 120 S Lakeline Blvd Cedar Park 10,902 0.0% Unknown Feb-20
1141 Shady Ln 1141 Shady Ln East 64,674 18.2% Bercy Chen Studio LP Mar-20
10029 Manchaca Rd 10029 Manchaca Rd South 30,000 0.0% Unknown Mar-20
Highland 2 523 E Highland Blvd Central 300,000 1.3% Redleaf Properties, LLC Apr-20
Penn Field - Building E 3601 S Congress Ave South 42,500 0.0% Unknown Apr-20
Building 3 9225 Bee Caves Rd Southwest 30,077 100.0% Unknown Apr-20
WestPark Professional- Building 4 120 S Lakeline Blvd Cedar Park 11,182 0.0% Unknown Apr-20
WestPark Professional Building 3 120 S Lakeline Blvd Cedar Park 11,182 0.0% Unknown Apr-20
Creekside at the Hills 4609 Bee Caves Rd Southwest 31,460 58.5% Bogle Family Realty LLLP May-20
Building III 7717 Southwest Pky Southwest 20,858 59.3% Unknown May-20
Bouldin Creek 2043 S Lamar Blvd South 161,310 11.7% Unknown Jun-20
Foundry II 1600 E 4th St East 161,436 23.7% Cielo Property Group Jul-20
Seven Oaks East 8701 FM 2244 Southwest 153,405 0.0% Unknown Jul-20
1221 S Congress Ave 1221 S Congress Ave South 103,000 47.0% Endeavor Real Estate Group Aug-20
1306 W Oltorf St 1306 W Oltorf St South 18,835 29.4% Unknown Aug-20
1306 W Oltorf St 1306 W Oltorf St South 18,807 26.6% Unknown Aug-20
1205 Nueces at Capitol West 1205 Nueces St CBD 11,297 0.0% Texas Association Of Counties Sep-20
405 Colorado 405 Colorado St CBD 197,056 38.3% Brandywine Realty Trust Oct-20
826 Houston St 826 Houston St Central 22,909 0.0% Central Austin Management Group Oct-20
The Overlook at Lakeway 2909 Flintrock Trce Southwest 42,404 3.2% Unknown Nov-20
1320 Arrow Point Dr 1320 Arrow Point Dr Cedar Park 15,300 0.0% Unknown Dec-20
The Quincy 93 Red River St CBD 103,948 25.2% Endeavor Real Estate Group Dec-20
Building 2 3212 E Cesar Chavez St East 96,467 0.0% Cypress Real Estate Advisors, Inc. Dec-20
Building 1 3212 E Cesar Chavez St East 75,956 0.0% Cypress Real Estate Advisors, Inc. Dec-20
1320 Arrow Point Dr 1320 Arrow Point Dr Cedar Park 15,300 0.0% Unknown Dec-20
300 Colorado St 300 Colorado St CBD 357,000 87.6% Cousins Properties Incorporated Jan-21
Saint Elmo Plaza 4223 S Congress Ave South 105,000 4.8% Maker Bros Jan-21
1204 San Antonio at Capitol West 1204 San Antonio St CBD 41,698 0.0% Unknown Jan-21

8. 8 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
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8 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2020 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Austin
111 Congress Avenue, Suite 750
Austin, Texas 78701
+1 512 539 3000
colliers.com/austin
FOR MORE INFORMATION
Kaitlin Holm
Research and Marketing Coordinator | Austin
+1 512 539 3021
kaitlin.holm@colliers.com
Q4 2019 Austin Office Highlights
QUOTED GROSS RENTAL RATES FOR EXISTING TOP PERFORMING OFFICE BUILDINGS
BUILDING NAME ADDRESS SUBMARKET RBA (SF)
YEAR
BUILT
%
LEASED
AVAIL.
SF
RENT
($/SF)
OWNER
Frost Bank Tower 401 Congress Ave CBD 546,000 2003 98.87 46,061 $70.62 CalSTRS
7700 Parmer B 7700 W Parmer Ln Far Northwest 335,138 1999 98.40 5,373 $43.10 Accesso Partners
One Eleven Congress 111 Congress Ave CBD 518,385 1985 97.80 109,016 $69.19 Cousins Properties
Incorporated
Chase Tower 221 W 6th St CBD 389,503 1974 96.96 11,858 $67.51 CIM Group LP
Four Barton Skyway 1301 S Mo Pac Expy S Southwest 222,580 2001 96.90 22,751 $51.37 Brandywine Realty Trust
Austin Centre 701 Brazos St CBD 326,335 1986 96.74 14,363 $59.41 Sidra Real Estate, Inc.
7700 Parmer C 7700 W Parmer Ln Far Northwest 300,274 1999 96.64 10,101 $42.98 Accesso Partners
San Jacinto Center 98 San Jacinto Blvd CBD 410,248 1987 96.39 92,044 $68.61 Cousins Properties
Incorporated
University of Texas System 210 W 7th St CBD 342,000 2017 95.40 15,715 $60.48 Board of Regents of The
University of Texas System
University Park 3300 N Interstate 35 Central 206,657 2009 94.68 39,967 $45.17 Hermes Real Estate
Investment Management Ltd
Note: Avail. SF includes direct and sublet space as well as any future available space listed.
Source: CoStar Property

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