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.

See Below for an Overview of the last 6-months at Beck-Reit Commercial Real Estate, and Scroll to the Bottom for DeLea’s Notes and Takeaways from Rednews' Recent AUSTIN RETAIL FORECAST PANEL

Beck-Reit Commercial Real Estate listed The Cat Noir Hotel on September 1st, 2021. We had multiple offers in less than 24 hours & within a week the property was under contract…. after a bidding war that drove the price above asking.

2110 S. Congress | Commercial Lease

“Owners are very pleased to get a long term tenant and see what the property becomes under the direction of Meteor” ~ Jeremy Avera

913 E. Cesar Chavez | LEASED YOGA SPACE | East Austin

Jeremy Avera of Beck-Reit Commercial Real Estate announces the lease of  913 East Cesar Chavez to Black Swan Yoga. Jeremy Avera & DeLea Becker represented the landlord in this lease transaction. The building is 1,800 SF and is located in East Austin on Cesar Chavez just 1 block east of I-35.

2110 S. Congress | Commercial Lease

“Owners are very pleased to get a long term tenant and see what the property becomes under the direction of Meteor” ~ Jeremy Avera

1106 S 8th Street | Commercial Property Lease

“Several businesses are looking just around downtown for space in order to avoid the sky rocketing triple net costs (taxes,insurance, and common area maintenance) and congestion.  With locations such as this one several businesses are finding that they have everything they need and can still get into downtown easily when they need to.  It’s really the best of both worlds.”

217 E. 6th Street | Commercial Property Lease

"With over 150 people moving to Austin every day and all of the people who travel here every weekend there is still a very strong demand for entertainment venues that can offer a unique experience." 

908 W Whitestone | Commercial Property Lease

"With a lighted intersection, protected turns, and continued development along W. Whitestone, this is an ideal location for businesses looking for easy access."

2707 Rogge Lane | Commercial Lease

"Considering the fact that this is only a mile and a half from Mueller development and there are new housing developments popping up all around this location, we are really excited about the potential of this property." ~DeLea Becker

5111 Airport | 2nd Generation Restaurant Space

"Currently if second generation restaurant leases hit the market in Austin or last long something is usually wrong.  Whatever the case is we need to move quickly to evaluate and use the success of your other locations to build confidence with the Landlord that you are the right choice to put us in first position."

1110 Williams Drive| Commercial Property Sale

"At only 1,032 SF it was a perfect location for an owner operated retail or personal service business. Just like Austin, Georgetown has very little inventory of property priced under $500,000 and there were multiple offers on this property. "