Austin office prices hit record high with Apple & Tesla driving growth, report says

AUSTIN (KXAN) — Demand for office space in Austin is driving average asking rates to a record high in the first quarter of 2022, according to the latest report from real estate company CBRE Group.
Class A average asking rates were $53.34 per square foot, the first time it's been above $50 since the company started tracking rates in 1989.
The group said Austin is one of the hottest markets for office development in the country, with 30 projects totaling nearly six million square feet curren