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Q4 2022 Austin Office Report

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There is considerable debate and speculation regarding the future of the U.S. office sector. The return to the office remains slow.

 

Key Takeaways

  • Absorption continues a negative trend.
  • Sublease availability in several submarkets increase.
  • Citywide vacancy is the highest it has been in 2022.
 
Pending a resurgence in demand, vacancy rates and sublease availability are set to continue to rise over the year, placing increased pressure on rents. In addition, retrenchment in the tech sector, which has been a key driver of leasing volume in Austin, could compound this trend.

 

Where are the Opportunities? Performance and demand differentials are expected to widen. This should be most evident between space class, but will also be seen between and within markets, and different business sectors. Quality will win out as firms seek the optimal work experience to retain and attract the best talent and bring employees back to the office.

 

Download the report to see where our market stands and where it's going.


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Q4 2022 Austin Office Report

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Related Experts

Daniel Taylor

Executive Managing Director, Texas Region

Dallas

Daniel Taylor is an Executive Managing Director and Market Leader for Colliers’ Texas Region. In his role, Daniel oversees all brokerage operations throughout key Texas markets with an immediate focus on accelerating brokerage recruitment and new business development across Dallas-Fort Worth, Austin and Central Texas. He brings over 20 years of industry and leadership experience to the role, most recently serving as Executive Managing Director of Dallas-Fort Worth for Colliers. Since his tenure in Dallas-Fort Worth, beginning in December 2020, his oversight has led to more strategic new hires, significant retention, revenue growth and increased market share.

Daniel provides P&L oversight for the market and supports the growth of Colliers’ business lines throughout the region and champions the delivery of best-in-class service for the firm’s clients.

Prior to joining Colliers in 2020, Daniel was a Managing Director of CBRE’s Dallas-Ft. Worth region, where he helped drive the firm’s overall regional operations and business strategy.

Before stepping into leadership at CBRE in 2016, Daniel was a top producing broker where he provided strategic oversight and management of various account teams that completed over 400 transactions involving 20 million square feet of space. Prior to joining CBRE in 2010, Daniel was a Senior Vice President with The Staubach Company and Staubach Retail Services.

A lifelong resident of Dallas, Daniel has served on a number of boards and is active in numerous community and charitable organizations including serving on the board of The Real Estate Council, NAIOP’s Dallas-Ft. Worth advisory board and the SMU Folsom Real Estate Institute. Daniel is a graduate of Baylor University’s Hankammer School of Business.

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David Bremer

Managing Director - Austin

Austin

David Bremer has focused on tenant representation since 2000, completing over 350 transactions and establishing himself as one of the most knowledgeable and experienced brokers in the Austin market.  David is recognized by past clients and landlords as one of the most service focused brokers in the industry and he takes great pride in the number of clients he now considers friends.    His experience includes complex and high-value office leases, expansions and contractions, subleases, purchases and everything in between.   He’s even been known to help a client move a desk when necessary.

In 2017 and 2018, he was a Colliers' Everest Award recipient. This award is bestowed upon the top 10% of all Colliers professionals in brokerage, valuation and corporate solutions across the U.S. business based on revenue production.

Prior to joining Colliers, David co-owned and operated a successful boutique tenant representation firm in Austin.   David graduated from the McCombs School of Business at the University of Texas with a degree in finance and is happily married with two young children.

David is active in the community, acting as the charity chair for the Austin Commercial Brokers Association.   He represents a handful of local charities pro-bono and donates his time whenever possible.   David is also learning patience by coaching his kids’ sports teams.  

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Austin Q4 Quarterly Report