The retail business in Austin is at its rapid growth, but retail spaces and development are at its usual pace. The occupancy rate has reached 95.6%; this is the highest since 2004. This was reported by a Dallas-based brokerage firm, The Weitzman Group.
The firm’s mid-year report shows that there is a critical availability of Class A retail space, even if there are around 30 retail strip centers who will be opening soon.
These retail centers are located in the outlying and suburban spots like San Marcos, Bastrop, Round Rock and Cedar Park, as per Weitzman Vice President Matt Epple.
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