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CoStar: Austin retail market 3Q 2014CoStar: Austin retail market 3Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=25212014-11-10T10:08:00Z2014-11-10T10:00:00Z

AUSTIN - The Austin retail market did not experience much change in market conditions in third quarter 2014, according to CoStar Group.

The vacancy rate was unchanged from 2Q 2014, at 5.1 percent. Net absorption was positive 126,290 sf, and vacant sublease space decreased by 39,901 sf. In 2Q 2014, net absorption was positive 44,839 sf.

Tenants moving into large blocks of space in 2014 include:

  • LA Fitness moving into 70,049 sf at LA Fitness;
  • LA Fitness moving into 40,794 sf at Lacks Home Furnishings; and
  • Gold's Gym moving into 39,892 sf at 6001 Middle Fiskville Rd.

Quoted rental rates increased from 2Q 2014 levels, ending at $17.78 per sf per year.

A total of four retail buildings with 58,239 sf of retail space were delivered to the market in 3Q 2014, with 446,065 sf still under construction at the end of the quarter.

This trend is compared to the U.S. National Retail vacancy rate, which decreased to 6.3 percent, with net absorption positive 26.48 million sf in 3Q 2014. Average rental rates increased to $14.84, and 542 retail buildings delivered to the market totaling more than 13.9 million sf.

CoStar Group
Austin-Round Rock
Retail
http://www.costar.com/News/Article/Market-Trend-Austins-Retail-Vacancy-Stays-at-51/165753Read more at {Source}

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