AUSTIN – The local retail market slowed down in the beginning of 2020 amid COVID-19.
Absorption went negative in 1Q2020, registering negative 3,310 sf of net demand, according to CBRE research.
Overall occupancy increased 20 basis points quarter over quarter to 96 percent.
Marketwide asking rates fell $0.75 per sf to $20.75.
Despite fundamentals evening out, development activity remained robust. The metro delivered 350,745 sf. The construction pipeline increased quarter over quarter to 1.2 million sf.
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Source: CBRE