Jared Jakovich Jakovich says infrastructure concerns and increased hiring competition will remain key challenges.

AUSTIN, TX—Office market fundamentals continue to steadily improve, according to PM Realty Group. Class A direct occupancy rates have improved by 40 basis points to 89.6% from the prior 12 months to reach the highest level since the dot-com bust in 2001. Citywide class-A asking rents rose by $0.46 to $36.04 per square foot (gross) during the quarter and have jumped by 7.7% or $2.59 within the past 12 months.