A real estate developer finds retail sites by spotting fast-growing neighborhoods. Austin's adding 60,000 homes with no local strip center, so they're building a 16,800 sq ft center with five tenants and a restaurant, focusing on regional Texas chains instead of national brands.
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.
Episode 575: Redefining Retirement as the Day All Your Choices Open Up with Doug Bennett
