To find retail space opportunities, look for fast-growing residential neighborhoods. Austin has 60,000 new homes with no local strip center yet. A 16,800-square-foot center with five stores and a restaurant could serve them, preferably with Texas regional chains instead of national brands.
Chapters
So basically with the retail, what we do is we find areas that are growing. So here in Austin, it's an area that they put in about 60,000 homes. There is no what we're going to call local retail strip center in that market. And especially with the way the world has changed, those retail centers are super successful now because we're much more neighborhood focused. And so this one is smaller, 16,800 square feet. And it's going to have about 5 stores in it, you know, have an anchor restaurant. We try to go for Texas chains, not national chains, try to get a little bit, but it's who would service a neighborhood. And then a lifestyle center is just a little bigger part of that, that it's often part of a bigger development.