AUSTIN – Absorption in the retail sector continued its downward slide in fourth quarter 2020, registering at negative 162,018 sf, according to CBRE.
Marketwide occupancy held steady at 94.6 percent.
The average asking rate increased from $20.25 per sf to $20.50 per sf quarter over quarter.
Projects under active construction increased by 110,000 sf to 1.1 million sf. Last quarter, 160,796 sf of new retail space came online.
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