KILLEEN AREA - Killeen and its surrounding cities have experienced steady commercial growth that has allowed brokers to experience some friendly competition, said David Barr, owner and broker for David Barr Properties. To be profitable, the groups have to work together, while building lasting relationships with their landlords, tenants and investors.
Growth in the Stan Schlueter and Clear Creek area continues to be healthy.
John Reider Properties leased more than 80 percent of The Domain at 2408 Clear Creek Rd. before the building was erected.
Jim Wright Company is building a retail and housing development next door with a number of tenants, including an Illuminate Gym.
“We have seen on W. Stan Schlueter that owners have built five buildings in one year, but they are starting to fill up and that is good. It shows you they are still having growth and the town as a whole is growing,” Barr said.
“It is always good to see the area grow,” Reider said. “But who can be the most flexible at the rent structure will be a standout.” Property values and traffic counts will help drive those figures. Franchises and chains factor in as well.
Traditionally, it has been hard to locate franchises off US 190, but as the gaps with I-frontage get tighter, new franchises are looking elsewhere, said Barry Hinshaw, a broker with John Reider Properties.
Wal-Mart, which plans locations on Stan Schlueter Lp. in Killeen and Stillhouse Lake Rd. in Harker Heights, will contribute to future growth of smaller rental properties off the US 190 corridor.