Developers Bullish Amid Expansions

AUSTIN, TX—Corporate expansions have intensified, elevating job creation, generating demand for office space and sparking a construction boom. In addition to the economic drivers Apple‘s campus has brought to the market, other major technology firms have made announcements, such as Interactions and Visa. All of the employment announcements have developers bullish; with the 4 million square feet of office space in the metro the highest total on record since at least 2007, says a report by Marcus & Millichap Research Services.

Nathan Smith of Austin Tenant Advisors tells GlobeSt.com: “Job growth is strong, businesses in many industries appear to be thriving, and according to Census data we have over 100 people moving to the Austin metro area every day. What that means is that finding office space to lease in Austin is getting harder and harder.”