Local Austin restaurateurs are feeling the strain of a historical real estate low that has resulted in a severe lack of workable properties for new restaurant concepts.
Due to large scale properties being abandoned during the recession, there was a push to fill these properties with tenants by retrofitting the spaces to fit multiple businesses. As such, there is currently a severe lack of large scale real estate available to new-coming restaurant concepts. Additionally, there seems to be a lack in real estate development as well, with very few property developments in the pipeline, with the exception of several smaller sites.
How will Austin restaurant operators handle the growing issue of real estate scarcity? Read More