As your Austin law firm’s real estate partner, we’ll secure the most economical, functional and efficient real estate deal that reflects your culture and image.
Demand for CBD space and low vacancy rates have caused rents for Austin office space to consistently increase year-over-year, leading to a market that currently favors landlords. We expect this trend to continue through 2017.
An additional challenge for law firms is the booming local tech sector, which prefers more open-office floorplans. As landlords cater to this trend, the amount of move-in ready space suited for traditional tenants dwindles. On the plus side, firms have an abundant and strong talent pool to draw from thanks to UT Austin's LBJ Law School, which still ranks as one of the nation's best.
Additionally, we project that demand for law firms will remain high in the market, thanks to a flourishing government in the State Capitol and a growing tech sector, both looking for legal counsel.
Our Austin law firm team is ready to help you navigate this complicated market.
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Demand for CBD space and low vacancy have caused rates for Austin office space to consistently increase. Law firms are additionally challenged by a lack of move-in ready space, as many offices now have open floorplans to meet tech-sector preferences.
Nationwide, CBD Class A space is dipping into single-digit territory in many markets, while Trophy rents continue to rise at 2.5 times faster than the market average. Find out why it's happening across the county, and how it affects Austin (as well as a number of other important areas across Texas), by downloading our full 2015 report.