Marcus & Millichap: Austin retail vacancy remains tight in 2018

​​AUSTIN – Ove​r​ 100 people move into the capital ​​​​area daily, prompting housing and retail demand, according to a Marcus & Millichap investment forecast report. 

Marcus & Millichap expects retail rent growth to ease this year, growing 3.5 percent. Average asking rents are projected to finish 2018 at $23.33 per sf.​

Retail vacancy could climb 20 basis points to 4.2 percent in 2018. The absorption of 650,000 sf falls short of new supply additions. 

Out-of-state buyers are targeting new, unanchored strip centers, the report said. 

Area employers are expected to add 25,000 positions in 2018, a 2.4 percent increase.​