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Fantastic #Barnesandnoble has restructured & grown store count - in some ways they're more of a community benefit than just about any retailer. Good stuff happens when you spend time getting lost in the book store.
Unfortunately prime vacant big box spots are very "limited"
Fantastic #Barnesandnoble has restructured & grown store count - in some ways they're more of a community benefit than just about any retailer. Good stuff happens when you spend time getting lost in the book store.
Unfortunately prime vacant big box spots are very "limited"
Overall retail vacancy rates in the major Texas metros are ALL below 5% at this point. Austin at 3.7%
This is not going to change soon. Lenders don't have an appetite to green light overly ambitious spec development. Borrowers have that much less equity to raise, debt to carry.
This is not going to change soon. Lenders don't have an appetite to green light overly ambitious spec development. Borrowers have that much less equity to raise, debt to carry.
So as the vacancy of Texas' major metros retail has gone from roughly 16% vacant in 2003 to a 5% vacant this year (that's a 320% reduction over 20 years if you're keeping score)...
..."We" are reacting by building much LESS new retail this year than in any of the last decade...
..."We" are reacting by building much LESS new retail this year than in any of the last decade...
