Weitzman: 2015 Austin Retail Survey & Forecast

AUSTIN – Austin’s retail real estate market is the tightest it’s been since the end of 2004 with an overall occupancy rate of almost 96 percent, according to the 2014 year-end report by The Weitzman Group and its affiliated Cencor Realty Services.

Though 1.2 million sf of new retail space was added, much of that included the opening of three Walmart Supercenters in outlying markets — Elgin, Manor and Cedar Park.

The numbers may improve in 2015 based on projects in the pipeline, but much of that activity will be in the form of large single-user stores. No major shopping centers are on tap, even though Austin’s population and overall building construction continues on a torrid pace.

Other major retail projects scheduled to open in 2015:

•  Lamar Union, the mixed-use project on S. Lamar Blvd., which already includes Alamo Drafthouse Cinema and the Highball.
•  At the Seaholm LLC multi-use project downtown, Trader Joe’s and True Food Kitchen should be finished shortly.
•  Redevelopment of the former Round Rock Garden Ridge property near I-35 and SH 45;
•  Lamar Central, an office project with 34,000-sf of ground level retail at North Lamar Blvd. and 38th St.;
•  Sam’s Club in Cedar Park;
•  Walmart in Kyle;
•  HEB Grocery Co. in Cedar Park and in Wimberley;
•  55,000-sf Hobby Lobby in Bastrop.

See the full report from The Weitzman Group and Cencor Realty Services for more.