Oct 18, 2017
Developers, retailers follow rooftops to Austin ‘burbs
AUSTIN – Positive net migration continues to boost household formation and lift retail spending in Austin, encouraging retailer expansion in the metro. Cedar Park has attracted a number of new retail...
AUSTIN – Positive net migration continues to boost household formation and lift retail spending in Austin, encouraging retailer expansion in the metro.
Cedar Park has attracted a number of new retail developments since 2009 as residents flock to this area and single-family and multifamily projects rise.
Other large retail projects coming online this year are mostly pre-leased, and several new entertainment options are opening throughout the metro.
Despite healthy absorption trends, supply additions will outstrip demand for the first time in eight years during 2017, pushing up the overall vacancy rate.
Retail developers pick up the pace of deliveries this year as several projects in excess of 75,000 sf come online.
The 350,000-sf The Parke in Cedar Park and a 235,000-sf development in Hays County are two of the largest retail projects slated for delivery this year.
In 2017, completions will be concentrated in the northern submarkets of Cedar Park, Georgetown and Round Rock.
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