Austin's retail vacancy at 4.9 percent: CoStarAustin's retail vacancy at 4.9 percent: CoStarhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=67312013-07-29T09:54:00Z2013-07-29T08:30:00Z

AUSTIN - The Austin retail market experienced a slight improvement in market conditions in second quarter 2013.

The vacancy rate went from 5.2 percent in the previous quarter to 4.9 percent in the current quarter. Net absorption was positive 299,256 sf, and vacant sublease space increased by 17,769 sf. In 1Q 2013, net absorption was positive 175,638 sf.

Tenants moving into large blocks of space in 2013 include HEB moving into 100,000 sf; Soccer Zone Lakeline moving into 34,000 sf at 920 Old Mill Rd.; and Wheatsville Co-op moving into 28,800 sf at 4001 S. Lamar Blvd.

Quoted rental rates decreased from 1Q 2013 levels, ending at $18.06 per sf per year.

Seven retail buildings with 98,680 sf of retail space were delivered to the market in the quarter, with 331,556 sf still under construction at the end of the quarter.

Read more at CoStar Group.

CoStar Group
Austin-Round Rock
http://www.rednews.com/2013/07/market-trend-austins-retail-vacancy-decreases-to-4-9/#.ufz1b22yqiwRead more at {Source}

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