Community Impact Newspaper recently published an article on local retail development and quoted our very own Russ Boles. Read that section here and check out the entire article in the link to follow.
Russ Boles, broker with Summit Commercial in Round Rock, said commercial developments are focusing on infill development because housing developers are similarly focusing on smaller developments.
“With new housing comes bigger retail opportunities,” Boles said. “What the infill does is it fills the opportunities that were missed originally.”
National homebuilders are focusing on keeping inventory of undeveloped land low because many of the companies are now publicly traded and undeveloped land shows up on their financial audits, Boles said.
“What we’re seeing is [homebuilders developing] tracts they know they can get in and out of,” Boles said. “You don’t see 400-home subdivisions coming in. You see 45- or 25-home subdivisions coming in.”