Weitzman recently released its Austin retail report. Matt Epple, partner, brokerage and development for Weitzman Austin, weighed in on the highlights of the Capital City’s retail market.
Connect CRE: Where did occupancy stand at year-end?
Epple: Much better than a year ago. A recovery in leasing demand backfilled many of the market’s existing vacancies and helped return overall occupancy to 96 percent – a return to the pre-pandemic rate of year-end 2019.
Connect CRE:Is the strong market leading to a jump in construction?
Epple: Not at all, though deliveries slightly outpaced the 2020 level and came in at 412,000 square feet. We expect 2022 and beyond to pick up though, as the market continues to tighten in the midst of strong economy.
Connect CRE: What’s ahead for retail?
Epple: All signs say go. The economy looks strong with housing, job and infrastructure growth bolstered by major moves from the likes of Tesla and Oracle’s headquarters, Samsung’s new plant and Facebook’s new 539,000-square-foot office.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.