Austin Retail Space Market on the Upswing

 

Austin Retail Space For RentIf you are nearing the end of your lease term now is the time to be proactive and time sensitive about making the decision of whether to renew your lease or relocate. Fourth quarter numbers showed that the Austin retail space rental market as a whole experienced occupancy levels of 90.6 percent, up .2 percent from the previous year. Retail space Rental rates are expected to rise alongside the growing demand for retail space. By acting now, you can be sure to save money by locking in a rate today instead of waiting for them to rise, as well as having a better selection of potential future locations by being a step ahead of your competitors for the space. Also, with limited space available on the market, it is speculated that Austin can also expect to see a fair amount of new completed space and construction activity in the next couple of years. So, if you currently have some time left on your existing lease, anticipate an increase in new product over the next couple of years and keep your eyes peeled for attractive new space.

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