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Austin Retail Space In-depth
Austin is the capital of Texas and the seat of Travis County. Situated in Central Texas and part of the American Southwest, it is the fourth-largest city in Texas and the 16th-largest in the United States of America, as well as the third fastest growing large city in the nation from 2000 to 2006, making Austin retail space an excellent choice when choosin... Read More
Austin Retail Space In-depth
Austin is the capital of Texas and the seat of Travis County. Situated in Central Texas and part of the American Southwest, it is the fourth-largest city in Texas and the 16th-largest in the United States of America, as well as the third fastest growing large city in the nation from 2000 to 2006, making Austin retail space an excellent choice when choosing to expand, relocate or open a business.
Austin's retail space market has been growing steadily over the past few years aided by strong job growth and a healthy economy. However, the recent economic downturn of 2008 has affected Austin driving the Austin retail space market vacancy rates up and the rents down. Furthermore, the Austin retail space market saw an addition of about 4.2 million square feet of retail space in 2007. Given the recent downturn in economic growth, much of this space has not been occupied. Austin retail space has a total inventory of approximately 35 million square feet of space and some of it is now vacant. Now is a great time to sign a long term lease for retail space in Austin if your business has the cash flow to do so.
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