Leasing activity remains resilient with several large deals done
Leasing activity remained resilient, trailing near the five-year average, with 1.1 million square feet (msf) of leasing activity occurring in Q3 2025. The Austin market saw several large deals in Q3 2025, including Nvidia, which leased 99,370 square feet (sf) at One Uptown; Bazaarvoice renewing for 36,592 sf at Quarry Oaks; and PwC subleasing 32,000 sf from Meta at Sixth and Guadalupe. With office demand holding firm, the overall availability rate decreased 230 basis points (bps) over the last year to 27.0%. Sublease availability also fell, declining by 1.0 msf year over year, driven by steady leasing activity, expiring sublease terms and fewer new listings. Looking forward, the near-term outlook for Austin is optimistic, with office demand expected to hold firm and leasing momentum likely to keep pace through 2025.