Times are surely changing and there’s no place like Austin for retail. Driving across America, you may likely find some vacant retail strips or ghost towns with empty stores but definitely not in Austin! Austin is just the opposite of a typical US city, with a surprisingly lower retail vacancy since 2020. The capital of Texas now has the lowest retail vacancy rate for any city in the State of Texas and is also one of the lowest in the country.  Competition is fierce in major Retail Areas such as the Domain and other trendy shopping streets like South Congress, 2nd street Downtown, Burnet Rd, and East Austin. Properties command high rent and spaces have multiple businesses looking at each sight and competing with each other to be selected by the Landlord.

What is triple net rent or N-N-N? Triple net rent, or N-N-N rent, is a type of commercial lease agreement where the tenant is responsible for paying all the operating expenses of the property in addition to the Base Rent. The operating expenses include property taxes, insurance premiums, and maintenance fees. This means that the tenant is responsible for all the costs associated with the property’s operation and upkeep, and the landlord is only responsible for the structural components of the building. Triple net rent agreements are commonly used in commercial real estate leasing situations where landlords want to pass the property’s expenses on to tenants without having to manage those expenses themselves.

We are thrilled to announce that our flagship redevelopment, The Otto at 1201 E Cesar Chavez, is currently hosting an exhibit for this year’s Austin Studio Tour! Given the pandemic, the 2020 Austin Studio Tour will consist of creative and mostly outdoor self-guided tours of public art. The two-week celebration features over 420 Austin-based artists and collectives presenting between November 14th and 22nd.

Pop Up Shops are a trendy and a great way for an established business to test out a new location or a startup business to try their hand at Brick and Mortar.  The toughest part can be finding the location / venue.  913 Cesar Chavez is the perfect location.