No room on Austin store shelves as retail occupancy soarsNo room on Austin store shelves as retail occupancy soarshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=187612018-01-09T06:00:00Z2018-01-09T16:00:00Z

​​​​​​​AUSTIN – Limited availability of local retail space continues to constrict market activity, reports CBRE in its fourth quarter 2017 retail market update.

Class A occupancy was down only slightly during the final 90 days of 2017.​

"Retailers aren’t just o​n the search for prime, Class A space," the report said. "Overall occupancy is also high at 96.3 percent—the highest measured in Texas.​​"

Net absorption continued to fall off peak levels registered in 2015, while new construction captured a large portion of demand—over 150,000 sf of the 247,000 sf absorbed. Large blocks were occupied in the fourth quarter by fitness tenants, including Crunch Fitness and Orangetheory Fitness.

CBRE forecasts Austin retail sales volumes to reach $29.7 billion this year, a 6 percent increase from 2017. Similar sales growth is projected to continue over the next five years at an annual rate of 5.6 percent, higher than the ​U.S. average.

Austin-Round Rock
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