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This Week’s Blog Post

  • MARKET REPORT: AUSTIN OFFICE OPEX ON HISTORIC RISE
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    And How to Mitigate the Risks to Your Business Unprecedented Rates Operating expenses (OPEX) for Austin’s commercial office buildings hit an all-time high at the start of 2017 — a trend that will likely continue as property taxes mirror historic commercial property values. Although OPEX is composed of many separate expenses passed on to the tenant, property taxes make up approximately half of this expense. Unlike residential property taxes, there is no cap on commercial property taxes. Therefore, taxes on commercial real estate will continue to rise with no limits as long as property values increase year over year. OPEX Trends OPEX is a major contributor to Austin’s historically-high office rental rates. In the central business district (CBD), vacancy rates have remained relatively flat since the latter part of 2014; however, average full-service office rental rates have increased more than 22 percent and the OPEX component by 38 percent in that same time period. The CBD experienced... Read more »

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