Just as people started gearing up for times reminiscent of a pre-pandemic world folks were stunned by the economic swing that has some holding on for dear life, literally, while others are watching for the uptick to take a leap into opportunities and increase their fortunes. We at Beck-Reit thought it would be helpful to compile some noteworthy East Austin news for our community of small businesses, owners, and investors. So, here’s what’s been happening in our neck of the woods!

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.

DeLea Becker and Mark Vornberg met for the first time in 2017 for lunch at an old-school dinner in East Austin - Chu-Mikals. Excited to announce our first Partnership in a Commercial Real Estate Development together. 2422 East 7th - 50,000 SF Office and Retail Building in their beloved neighborhood - East Austin

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.

Situated on the iconic South Congress Avenue is a great piece of family-owned, Austin history that’s been around since the 50’s. Formerly known as “Lockhart’s”, this property is now home to Meteor Coffee, and possibly a new home for your business or someone you know looking for a high visibility space with great opportunity for growth. 1815 SF Off/Retail For Lease.