AUSTIN – The metro’s retail fundamentals remained steady amid the pandemic.
Occupancy stood at 95.8 percent as of mid-May, equal to the same time last year.
Year to date, the metro recorded 848,000 sf of leasing activity. Absorption was at 555,000 sf.
New supply delivered 564,000 sf, and 1.5 million sf is under construction.
The average asking rental rate was $21.74 per sf as of mid-May, down from $22.17 last year.
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