Retail real estate now a rare commodity in robust Austin economy, report shows

Jan 27, 2015
Austin Business Journal

Austin's retail real estate market is the tightest it's been since the end of 2004 with an overall occupancy rate of almost 96 percent, according to the 2014 year-end report by The Weitzman Group and its affiliated Cencor Realty Services


Though 1.2 million square feet of new retail space was added, much of that included the opening of three Walmart Supercenters in outlying markets — Elgin, Manor and Cedar Park


The numbers may improve in 2015 based on projects in the pipeline, but much of that activity will be in the form of large single-user stores. No major shopping centers are on tap, even though Austin's population and overall building construction continues on a torrid pace


Retailing and fast food fans will be happy to know that In-N-Out Burger is adding another new location on South Lamar Boulevard in addition to its site in Central Austin and another in Cedar Park



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