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Occupancy at 95.9%. Austin’s retail market year-to-date occupancy rate rose slightly to 95.9%, 10 basis points, from a healthy 95.8% at the end of May. Year-to-date the market has recorded 827,000 sq. ft. of positive net absorption, while new supply is somewhat ahead of demand, delivering 1 million sq. ft. to the market so far this year. The average asking rate of renting retail space declined very slightly by $.07 to $22.03 per sq. ft. on a triple net basis, from $22.10 at this time last month.
Roller Derby in Round Rock. Rockin’ City Rollergirls, a roller derby league, inked an 18 month, 18,000-sq.-ft. lease at 3918 Gattis School Road in Round Rock. The building totals 30,000 sq. ft. and is located in the Forest Common Business Park.
SW Austin unveils Moviehouse & Eatery. Lantana Place, a new mixed-use development welcomed anchor tenant Moviehouse & Eatery, an Austin-based dine-in movie chain. The 10-screen theater opened in May in the sparsely retailed southwest submarket of Austin.
Once again, Austin tops the charts. U.S. News & World Report’s Best Places to Live survey ranked Austin number one for the second year in a row. The capital of Texas’ continued appeal has led to a strong job market. The local labor force expanded at a robust 4.7% annualized pace year to date, while Austin’s unemployment rate remained at a low 3.0% for a third consecutive month in April. This is well below the state and U.S. jobless figures at 4.1 and 3.9%, respectively.
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