Austin Business Journal May 20-26, 2022 pp12 |Retail & Restaurants by Sahar Chmais|Market Snapshot|”Where Manhattan-Like Prices Reign
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Summary by 2244
Westside of South Congress in Austin, Texas. More big brands and less "Keep Austin Weird"
The average triple-net-rent for the Austin metro area retail is $20.75 per square foot but rates are as high as $100 to $150 per square foot on some sections of South Congress (SOCO)-A rate reportedly comparable to Manhattan in NYC.
SOCO is an iconic socializing and shopping street that has attracted both locals and visitors from around the world. As locals are aware, SOCO has changed dramatically in the last decade. Largely gone now is the “Keep Austin Weird” vibe that was characterized by many locally-owned and operated restaurants and retails shops.
Not surprisingly the article notes that “many longtime shop owners struggle with the changes on South Congress, including rising real estate costs.” See ABJ additional detail at https://bizj.us/1qf7iy