TYLER - The 2015 Tyler Retail Market Survey has been released by Burns Commercial Properties. The Retail sector was the shining star of the commercial real estate market over the past twelve months.
In spite of the availability of additional retail space, the occupancy rate rose to 87.8 percent, up from 87.3 percent in the 2014 report.
The average lease rate for the centers included in the survey has risen from $15.09 per sf in 2014 to $15.73 in 2015.
The fact that the market absorbed 164,670 sf of space and the average asking price increased confirms that the retail market in Tyler experienced a very strong year.
Out of the 66 properties surveyed, 41 had occupancy rates of 90 percent or higher.
Source: Burns Commercial Properties
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