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Austin retail fundamentals remain relatively steady

​AUSTIN – The metro’s retail fundamentals remained steady in some metrics while exhibiting the impact of the pandemic in others. 

As June ended, occupancy stood at 95.8 percent, equal to the same time last year. 

Leasing activity​ was hit hard by the pandemic. Year to date, the metro recorded 971,000 sf of leasing activity, down 39.2 percent year over year. 

Absorption stands at 557,000 sf. 

Around 615,000 sf of new supply was delivered. 

The average asking rent rose 1.3 percent year over year to $21.87 per sf. 

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​Source: Connect Media

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