Jun 1, 2016
Burns Commercial: 2016 Tyler Retail Market Survey
TYLER - The 2016 edition of the Burns Commercial Properties Retail Market Survey contains data which indicate that the Retail sector continues to be the strongest category in the local commercial...
TYLER – The 2016 edition of the Burns Commercial Properties Retail Market Survey contains data which indicate that the Retailsector continues to be the strongest category in the local commercial property market.
The construction of new retail space has continued in the past year with over 230,000 sf being added to the market.
In spite of the completion of additional space, the occupancy rate remained virtually unchanged, coming in at 87.5 percent just below the 87.8 percent level achieved in last year’s survey.
The strong demand from retailers for space in the Tyler market has resulted in an increase in the quoted rental rates from an average of $15.73 per sf in 2015 to $16.83 in 2016.
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