CBRE: Austin retail occupancy just keeps climbing

​​AUSTIN – Here are highlights from CBRE’s recently released “2Q 2018 Austin Retail MarketView​”:

Occupancy scales even higher

• Already at cycle-high levels, occupancy inched up to 96.4 percent this quarter.

• High demand prompts high rents, with some prime locations now demanding $40 and even $50 per sf.

Pflugerville welcomes massive new retail outlet

• Living Spaces opened its first Texas store in May—a 500,000-sf facility located just west of the Texas 130 Toll Rd.

• The property delivery has pushed local absorption to a sizable, positive amount.

Austin Unemployment Falls to 2.8 percent

• Austin’s thriving technology sector and its cachet as an entertainment haven have jet-fueled the local economy, with monthly unemployment in May dipping to 2.8 percent.