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Austin Crane Watch: Indeed Tower, 300 Colorado move closer to delivery
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After rough 2020, is Austin s office market poised for a rebound?
The coronavirus pandemic isn t done battering the Central Texas office market, but local commercial brokers say they are seeing signs of that things could improve in the coming months.
Office vacancies were still on the rise and the rental rates being sought were flat in the fourth quarter, according to new industry reports. Office leasing remains far below 2019 s pace, and in line with the leasing activity seen during the last recession, according to CoStar Group, a real estate data company.
But some local office brokers say 2021 could see a turnaround – albeit a gradual one –for the market. Demand for office space has started to pick up again, they say, although it remains below what it was pre-pandemic.
2021 luce lento para constructoras en EEUU
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American-Statesman Staff
American-Statesman journalists spent 2020 chronicling the impact on the coronavirus pandemic in Central Texas, unprecedented police protests and implications of the presidential race.
Along the way, the newspaper devoted resources to exclusive reporting and investigative watchdog journalism that often led to reforms or positive changes in our community.
That reporting led to the indictment of the Williamson County sheriff, an investigation into the Texas attorney general, changes in spending plans by the Teachers Retirement System of Texas and a leadership overhaul at Fort Hood as the Statesman sought to hold officials accountable and to push for open government.
Here is a recap of some of those reports that made an impact in 2020.
AUSTIN S TOP STORIES OF 2020: No. 10: Teacher Retirement System lease
Austin American-Statesman
COUNTING DOWN AUSTIN S TOP STORIES OF 2020
We re counting down Austin s top stories of the year, as chosen by American-Statesman reporters and editors. Our countdown continues through Dec. 27. Today: No. 10
In 2019, the American-Statesman sought details on the Teacher Retirement System of Texas plan to lease office space in the 36-story Indeed Tower under construction. At the time, the taxpayer-funded state agency refused to disclose its lease. When a new state law closed a loophole in Texas open-records laws, the Statesman tried again in January.
This time, the agency disclosed that its base lease would start at about $326,000 per month, drawing quick criticism from teachers groups and state lawmakers. (Later reporting showed the lease to be $487,000 a month.)
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