As the population of New Braunfels continues to grow at a rapid pace, so does investment and construction in commercial real estate.
At the same time, a very low rate of vacancy in some areas of commercial real estate, such as office and retail, is putting pressure on developers to build more around New Braunfels to bring increased options for businesses.
“We’ve seen nearly 100% absorption of our office market,” said Jonathan Packer, president of the Greater New Braunfels Chamber of Commerce. “We have opportunities emerging where there’s going to be some evolution of all of our retail areas both new and existing in the city to bring jobs and people clustered together and to attract the right type of job. We need to have the spaces that allow us to compete for those opportunities.”
Data produced for the GNBCC from CoStar Group, an organization that researches and analyzes the commercial real estate industry, shows that nearly 200,000 square feet of new retail construction is under construction in 2022. Click to read more at www.communityimpact.com.