State of the Central Texas commercial market

From Impact News, December 19, 2008...

The retail market remained flat for the second quarter in a row. When negotiating rents, improvements and expenses for retail space, the buyer should be careful and know what is reasonable.

Retail vacancy rates during the third quarter came in at approximately 6.8 percent with average rates increasing to $20.62 per sq. ft. There were 10 buildings completed that total 222,679 sq. ft. with approximately 1.2 million sq. ft. under construction. The top five retail projects in the Austin area based on square footage were in Round Rock, Northwest and Central Austin.

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