Tue January 18, 2011
See What Highland Mall's 50 Percent Vacancy Rate Looks Like (Soon To Be 71 Percent)
If you haven't made time lately to visit the beleaguered Highland Mall, you are not alone. Close to half of the mall's retail space is unleased, and it is about to lose its Macy's anchor store. KUT News sent freelance photographer Jeff Heimsath to the mall to take some pictures so you can see how deserted it has become. Check out our slideshow.
Austin Business Journal reporter Francisco Vara-Orta appears regularly on KUT Radio as part of a local business segment. Vara-Orta says the mall has a 50 percent vacancy rate (as measured by square footage of retail space leased). Once Macy's leaves, Vara-Orta says the vacancy rate will be closer to 71 percent.
As KUT News reported earlier this month, Austin Community College plans to buy the Macy's space for $5 million, which could mitigate the mall's decline. The space would be used mainly for offices, which would put more potential shoppers into the building and may help suffering business rebuild their clientele.