Office Rents Now Rival Silicon Valley's: Austin Affordable No More?

Posted by Staff Reporter on Jul 18, 2019 07:52 AM EDT
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Office Rents Now Rival Silicon Valley's: Austin Affordable No More? (Photo : pixabay)

Large tech companies have exponentially increased their presence in Austin. This has had a dramatic impact on office rents in the Texas capital, according to research by commercial real estate brokerage JLL.

As of the end of June, the "big 8 techs" companies had either committed to or actually occupied 9.2 million square feet of space in the city, according to commercial real estate brokerage JLL. (This includes owner- occupied) Note that JLL did not name the "big 8" but logically one can assume they are referring to tech giants such as Apple, Google, Facebook, Oracle and Amazon, which all have a growing presence in the city.

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