If you have been keeping track of commercial real estate in Austin, Texas in recent years, you will know that rental rates for office space have been increasing rapidly.
In Austin’s Central Business District (CBD), with the news of new developments seemingly never slowing down and vacancy rates near all-time lows, it’s no wonder that a question we often hear from price-conscious clients who value a downtown address is “What are the most affordable office buildings in Austin’s CBD?”.
In this article, we feature the 10 most affordable Class A office buildings in downtown Austin. For reference, the current (as of 1Q 2019) average asking NNN rental rate for Class A office buildings in downtown Austin is $38.68.
1. 211 Seventh
Address: 211 East 7th Street
Total Building Size: 159,313 sf
Asking Rates (as of 1Q 2019): $19.40 – $29.00/NNN
This 12-story office building is located at the southeast corner of East 7th Street and Brazos Street.
The building offers some of the most affordable Class A office prices in downtown Austin. It boasts floor-to-ceiling windows on each floor with views of Lady Bird Lake and the surrounding downtown area.1
211 Seventh is also within blocks of places like the Driskill Hotel, Paramount Theatre and Roaring Fork to name a few of the many walkable amenities in the area.2
Current tenants in the building include Silvercar by Audi, Macmillan Learning, Medallia and BigCommerce to name a few.
Address: 316 West 12th Street
Total Building Size: 102,666 sf
Asking Rates (as of 1Q 2019): $25.000 – $37.00/NNN
Westview is a six-story building that underwent a full renovation in 2018. Because of these renovations, in 2019 it was awarded a LEED Gold certification by the U.S. Green Building Council.3
The building has a rooftop terrace which looks onto the State Capitol as well as offering 360-degree views of the rest of downtown.
In 4Q 2018, WeWork announced plans to lease three floors within the building, enough space to accommodate 1,000 members at the WeWork Westview location. Other tenants include CTA Architects Engineers and Education Austin.
3. Capitol Center
Address: 919 Congress Avenue
Total Building Size: 189,000 sf
Asking Rates (as of 1Q 2019): $28.00 – $34.00/NNN
Capitol Center, named for its location just a block from the Texas State Capitol building, benefits from proximity to the surrounding government buildings and Capitol Complex.4 Amenities in the building include a tenant lounge, fitness room and a conference room for 20 people.5
The building is home to the Texas Lobby Group as well as a number of other prominent lobbyists.
4. 1001 Congress
Address: 1001 Congress Avenue
Total Building Size: 24,737 sf
Asking Rates (as of 1Q 2019): $29.00/NNN
Built in 2002, 1001 Congress is located just one block south of the Texas State Capitol building along Congress Avenue.
The building conveniently features a Starbucks on the ground floor, making morning coffee so much easier.6 There is also an attached parking garage.
Tenants at the property currently include The Graydon Group LLP, Texas Association of Health Plans and Texas Engineering Foundation.
5. 400 West 15th
Address: 400 W 15th Street
Total Building Size: 281,196 sf
Asking Rates (as of 1Q 2019): $32.00 – $34.00/NNN
This building is a walkable distance to notable locations like the Texas Capitol and the University of Texas campus. It features a conference room that can hold up to 100 people, a fitness center with showers and excellent views of the Hill Country as well as other significant downtown buildings. The building also achieved BOMA 360 designation.
Tenants in the building include CenturyLink, Moody National Bank and AEP Energy, Inc.
6. Perry Brooks Tower
Address: 720 Brazos Street
Total Building Size: 136,585 sf
Asking Rates (as of 1Q 2019): $34.00/NNN
Perry Brooks Tower is located at the heart of the “tech hub” at the corner of Brazos Street and Seventh Street. The building was constructed in 1954 and was renovated in 2010. The tower was the first existing building to achieve LEED Platinum certification by the U.S. Green Building Council in the city of Austin.7
The 12-story building is just four blocks from the Texas State Capitol and three blocks from the corner of Sixth Street and Congress Avenue. The building is also proximate to a number of Austin’s top hotels, including the Driskill and the Stephen F. Austin Intercontinental, as well as many of Austin’s top bars and restaurants.
Tenants within the building include Zilliant, Strasburger Attorneys at Law and Groupby.
7. 816 Congress
Address: 816 Congress Avenue
Total Building Size: 433,024 sf
Asking Rates (as of 1Q 2019): $35.00 – $37.00/NNN
This 20-story building is located at the northwest corner of Eighth Street and Congress Avenue and within walking distance of the Paramount Theater, the capitol building, and all that Congress Avenue has to offer including Austin’s top coffee shops, bars and restaurants.
816 Congress features 24-hour security, an outdoor terrace looking towards the Texas State Capitol, a modern fitness room, as well as downtown and hill country views.8
Tenants include the Teacher Retirement System of Texas, Lloyd Gosselink and AT&T.
8. 823 Congress
Address: 823 Congress Avenue
Total Building Size: 220,022 sf
Asking Rates (as of 1Q 2019): $34.00 – $36.00/NNN
823 Congress recently underwent interior and exterior renovations, including a complete repainting of the 16-story tower.9 Also part of the renovation was the addition of a courtyard for the building, a common conference facility, a tenant lounge and a new workout facility with lockers and showers.
The building offers floor-to-ceiling windows with views of the state capitol building. It is also just three blocks from the epicenter of Austin’s live entertainment scene on Sixth Street.10
The building’s major tenants include All Clear ID, HillCo Partners and Every Well, Inc.
9. Austin Centre
Address: 701 Brazos Street
Total Building Size: 326,335 sf
Asking Rates (as of 1Q 2019): $35.00/NNN
Austin Centre is unlike anything else mentioned in this list as it shares a building with the four-star Omni Hotel.
The 16-story building was built in 1986 and was most recently renovated in 2015. Because the building also features a hotel, the amenities for office tenants are unique. There is a health club, travel agency, car rental, sundry shop, hair salon and ground-floor restaurants.11
The building is home to Austin incubator and coworking space Capital Factory, as well as E.On, Netspend, and Thompson, Coe, Cousins & Irons, LLP.
10. 900 Congress
Address: 900 Congress Avenue
Total Building Size: 64,644 sf
Asking Rates (as of 1Q 2019): $36.00 NNN
900 Congress is a five-story building built in 1965 that is currently undergoing a number of exterior and interior renovations. The building features on-site parking and a balcony with great views. The property is located at the heart of Congress Avenue, walking distance to both the capitol and the street’s bustling retail and restaurants.
The building’s primary tenant is Prosperity Bank.
We hope this article helped give insight into the most affordable Class A office buildings in downtown Austin.
To see what office space AQUILA has available, check out our property listings and availabilities.
To learn more about leasing office space in Austin, check out the Finding Office Space section of our Learning Center.