Are retail lease rates in Austin, Tx getting too expensive? Can our local businesses really make a profit after paying high Austin retail rental rates?
According to Amy's Ice Cream Austin retail lease rates are out of control. They recently closed its South Congress Store because they felt the retail rental rates were way too expensive. See story here: Amy's Ice Cream Closes an Austin Store; cites exorbitant rent
Commercial lease rates across Austin, Tx have seen dramatic increases in both office and retail space. For many retailers having to renew leases right now they are having to pay almost double what they paid in the past. No one likes to relocate however it's important that businesses really consider what other options they have before signing leases. In the Austin market there are not currently many options which is why it's so important to start the process of negotiating renewals AT LEAST 8-12 months before your lease expires.
If you have not done so in a while check your lease contract to see when your lease expires. If your businesses retail lease is set to expire in the next 8-12 month it's time to starting thinking about what your options are. If you need help feel free to give us a call.