Vacancy vs. Availability and What This Means for Tenants

April 28, 2023/in News /by officespace

CoStar office stats for Austin are looking ugly. The vacancy rate is at 30.6% and the availability rate at 40.2% (Which adds occupied space that is also being marketed as available in the near future like subleases, direct leases expiring, and new construction). Pricing typically lags vacancy by ~18 months but we have yet to see price declines in the market except for subleases.

Landlords are still using free rent and extra tenant improvements to keep those face rates high. The big block spaces are getting hit the hardest as small tenants seem to be the most active.

What this means for tenants is that there are a lot of good discounts and opportunities in the market!

Google Rating

5.0

Based on 27 reviews

Austin Office Space, Inc.

5.0

Shelby S.

We recently worked with Chad to find our new office space, and we couldn't be more pleased with the experience. From the start, he was incredibly kind and attentive, showing us a range of options to ensure we found the perfect fit. What stood out most was his honesty and realism— he didn't didn't just try to close a deal, but genuinely wanted us to be happy in our new space. He provided clear, balanced information about each location, outlining both the pros and cons so we could make an informed decision. We are thrilled with our new office and grateful for Chad's guidance throughout the process. Highly recommend!

Lexie K.

We had an excellent experience working with Chad Jewell! He was patient and kind, really taking the time to help us find the perfect office space. His knowledge of the market was spot-on, and he made the whole process feel easy and stress-free. Would highly recommend him to anyone looking for great commercial agent!!

Adrienne L.

Chad Jewell with Austin Office Space has successfully repped me on the lease of 2 different Central Austin office spaces within the past 8 years. He is an expert in every sense of the word, and all around just a really great person!! He knows the answer to every question I've ever had during the leasing process, there is 0% pressure working with him and he is my first and only resource for commercial space. 10/10!

Eric B.

We finalized a lease on ~5300sf of office space in NW Hills recently and Chad was integral in our success. I am a residential real estate broker and there is no way we would have found the space or had the good experience we did without Chad's expertise and guidance. Chad helped us find the space, negotiate the lease, and most imporantly, helped us understand what we should expect in the market and what is reasonable.Chad went above and beyond by providing guidance on an early termination with our previous lease, which was a frustrating situation, but which we were able to successfuly resolve. Chad is intelligent, knowledgeable, patient, and professional. I can't recommend Chad and his team at Austin Office Space highly enough!

Panos M.

Chad was outstanding in helping us find the perfect spot for our business. He made sure it was affordable and had everything we needed. In addition, he handled the lease negotiation and closing with the utmost professionalism. We will call on Chad again as we grow and scale up. Highly recommended!

Mike R.

This review has been due for months. Frankly, my staff and I have been so pleased and productive in our new office space, that we've been able to quickly position ourselves for growth, already justifying expansion to a large space very soon. Rest assured, Matt Watson at Austin Office Space will be my go-to Tenant Agent once again, and anytime in the future I need a true professional in my corner to negotiate the best deal possible, and coordinate all the finite details on my company's behalf.Matt is great to work with, always on-point, fully transparent and well-versed and credentialed in managing every detail of the entire process. We couldn't be happier with the building and the suite Matt found for us, and we're excited at the prospect of working with Austin Office Space again, now that we're adding several more employees and need to spread out a bit. Austin Office Space has earned my very highest praise and recommendation.

Kay R.

Chad high key knows his stuff. I gave him a list of what I need in a commercial space for two companies. He got the lease negotiated quickly for one company and performed a miracle on lease terms for the other company.I’m highly impressed with the level of service I’ve repeatedly received and recommend him to anyone looking for a new space.

Caitlin T.

Our firm has been working with Chad for several years now and he has made every lease transaction painless. No matter our size or what we have been looking for, AOS has been there for us. We can't recommend them highly enough!

steven L.

I sincerely enjoyed working with Chad Jewell at Austin Office Space. He was professional, knowledgeable, helpful, and a pleasure to work with. I would recommend him to business associates and family alike.

Ariella fraile S.

Chad and his team were invaluable in helping us find our new office building. They were very communicative and assisted us with all the details in helping us get move in ready. We appreciate his attentiveness to our needs and would definitely recommend Austin Office Space to anyone in the Austin area!

Charles W.

Chad at Austin Office Space has been our go to Broker in the Austin area for over 15 years since 2008. He has help our business find office spaces in 2008/2012/2016/2021. His knowledge and direct no-nonsense attitude is why we always have valued him as a valuable resource in the Austin area for commercial real estate. The time and effort he has showed us in helping with anything related to our leases is why we will always choose Austin Office Space as our premier choice. The quarterly updates on the health of the Austin market they provide have been very insightful as well.

Jens J.

The whole team at Austin Office Space were extremely responsive, attentive and great to work with. They provided excellent service. I can't recommend them enough

Bob D.

Don't let the name "Austin Office Space" make you think that this company cannot help you with other commercial real estate needs. I have been working with Matt Watson trying to find a location in the Austin market for our store. Matt has been great in pre screening and sending us pictures, layouts etc. which saves us time and money. I recommend giving Austin Office Space a call regardless of your commercial real estate needs. From retail to warehouses they will be available to help. Thanks from all of us at ConDecor Superstore.

Michael S.

Chad was fantastic. We had a very short timeline to find office space and move in so we could start a new firm on January 1. Even though we had a short timeline and specific needs, Chad made it happen. He was smart, responsive, resourceful and understood what we needed. He also helped us find vendors for furniture, internet, phones and other items. We got the space, moved in, and were up and running and open for business on January 1.

Katie C.

Chad is absolutely amazing!! He helped our company find an office space to lease when moving the business and our employees from Tampa FL, to Austin. Everything else about the move was stressful, but working with Chad made acquiring a space and moving into it super easy. Eventually, when we decided to sublease part of it out, Chad helped us find someone immediately. Now that our lease is officially coming to an end, we've decided to work with him again to find our new space. He is so patient, down to earth, and professional, and he has been working really hard to find a new spot that meets our needs and price range. He is a great negotiator, and he also brings a wealth of knowledge and makes himself very available to answer our questions. I'm so glad we found him!

Mark S.

Been working with AOS and Chad for nearly 3 years now - in that time, he's truly gone above and beyond to help out and find office spaces that match the changing needs of my company.Not only is Chad someone who takes great pride in his craft as a broker (he's worked some great deals for us), but he has genuinely done his best to take care of us and help us navigate the waters of commercial real estate with true integrity. He's helped us review documents, tour as many spaces as we wanted to look at, and been extremely helpful all along the way.Truly one of the best people I've ever done business with, and cannot possibly say enough good things about the services that he and AOS have provided to us over the years.If you're looking for a new space to build your business, AOS is the best guide possible.

Heather F.

Gentry and Chad were awesome to work with. We needed to move very quickly with very little notice. Gentry sent a long list of locations for me to review and Chad talked me through them and then met me to view the spaces I selected. We found a great spot and the whole thing took less than two weeks, start to finish. I highly recommend this team of friendly professionals.

Sebastien B.

Chad helped us find our commercial lease. He and his team were professional and responsive at every steps. They took the time to understand our project to provide us with the best choice and advices. I recommend Chad and Austin Office Space without reservation!

Eric W.

We had a good experience using Austin Office Space and Chad Jewell to handle our subleasing process. The level of communication during the process was good and we felt informed of developments throughout. Chad was easy to work with and understood the local market. I would recommend him.

Andrew S.

Working on a TV show in Austin and needed adequate space for our production. Austin Office Space was extremely helpful and worked fast for our quick turn around. Highly recommend reaching out to AOS for any office needs. Will use them again!

Mike S.

Chad at AOS was extremely helpful in quickly compiling a list of office spaces for us to consider. He even made up a document complete with pictures and locations that made it very easy to weigh our options. In addition, he even put me in touch with another company to find out what they had to offer. It was a very helpful experience.

Cindy Lo - RED VELVET (.

It's not easy shopping for commercial real estate in a hot market like Austin but Chad with Austin Office Space (AOS) was there for us as we patiently combed through multiple options (all shapes & sizes) as we were open to building new or renovating an existing space. But what won us over was that he used his contacts to help find us a space before it went out to the public and that's the key to beating out the competition in a hot market. Chad responded to all my emails day & night, and I appreciate his willingness to answer even the mundane questions since this was my first time to buy commercial.

Colin L.

Great company, great representation, great leadership. You'll be pleased with the results.

Ryan K.

My thumb was completely green as this was my first real office. Chad helped me through the process and found me the perfect space. Highly recommended.

Charlotte P.

Chad is an amazing person to work with. He is an extremely pleasant and professional person and has access to a great network to help you find the right office space. He definitely is the person who will go the extra mile to help you find the right location. We highly recommend working with him!

James B.

Chad Jewel is awesome. From the day I met him through negotiations for our new space, he has been wonderful. If you are looking for office space, you just can do better than Chad! Two Thumbs WAY up!!

John R.

Great service, client focused and delivered exactly the kind of space we needed. Best in the business! If you need space in Austin, this is the team that will help you find it.

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