AUSTIN – The metro’s retail sector continued its downward slump in third quarter 2020.
Net absorption registered at negative 426,400 sf, up from the previous quarter, according to CBRE.
Occupancy fell from 95.2 percent to 94.6 percent quarter over quarter.
Average asking rates fell from $20.50 to $20.25 per sf.
Development activity has also slowed. There is one million sf under construction. Last quarter, 276,000 sf came online.
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