Austin Office Figures - Q3 2026

In Q3 2026, the market recorded solid occupancy gains even as vacancy and availability edged higher. Net absorption totaled 253,000 sq. ft., lifting year-to-date net absorption to 577,000 sq. ft., yet vacancy rose 40 basis points quarter-over-quarter to 23.6%, and availability increased 150 bps to 28.5%. This uptick was triggered by the delivery of the Waterline Tower in the CBD, which added over 700,000 sq. ft. of vacant and available Class A space to the market. Strip out that one building and underlying market conditions remained steady in Q3 2026. Class B tightened, asking rates remained relatively stable, and the development pipeline has thinned to its lowest level in more than 10 years, limiting new supply pressure. Meanwhile, tenant demand continues to grow, reaching 5.1M SF as of Q3 2026, a 45% year-over–year increase. Leasing activity softened to 590,000 sq. ft. from 1.06 million sq. ft. in Q2, but the expanding demand pool suggests occupiers remain active. With asking rents stable and little new supply on the horizon, the market is positioned to absorb existing vacancy gradually.