Buda and Kyle are rapidly growing cities in Texas whose real estate needs are reflecting their growth. Homes are being built quickly to meet demand but another demand isn’t being met, office space.
City officials are seeing office space filling up quickly and because the space is so limited it is hindering growth in the cities.
“New office space has been built or is under construction in Buda lately and these spaces have filled quickly,” Ann Miller, Executive Director of the Buda Economic Development Corporation said.
Buda and Kyle’s close proximity to Austin allows people to live more comfortably for cheaper prices while still enjoying the perks of a larger city. This is what’s causing the influx of people and businesses.
“Kyle would be an ideal location for companies that want to be near larger cities but don’t really want to pay those higher city rents,” Diana Blank-Torres, Executive Director of Kyle Economic Development Corporation, said. “Businesses want to be here and are looking for developments that will offer dedicated office space which is different from retail space.”
Not just any office space is needed though. These kinds of spaces are ranked A, B and C, with A the most expensive and prestigious according to the Building Owners and Managers Association. These two cities are in a desperate need for all classes but especially class A.
There is currently no class A office space in Buda which is essentially hurting the city and preventing companies from moving there. Even if developers started building today, companies don’t want to move into unfinished projects.
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