In the News

At Work

Austin Business Journal

January 18, 2008

Lauren Brunner — Vice president
SiteSource Real Estate Services

Lauren Brunner has been with SiteSource Real Estate Services for almost three years. SiteSource specializes in tenant representation in Central Texas and provides competition analysis, trade area information, site selection and market planning for additional locations. Some of the company's clients include Staples, 24 Hour Fitness, Einsteins Bros. Bagels, Panda Express, Willy O's Burgers and More, Backwoods, Chase Bank ATM division and Sylvan Learning Center.

Q: What special skills are needed to get into this role?

A: Organization and task management are a large part of my daily duties. I often have numerous clients with multiple projects and they depend on me to help keep their information in order and readily available. It's also important to be a good listener and communicator. Since most of our clients are national multiunit operators, we serve as their eyes and ears on the ground in Central Texas. It's my duty to keep them current on new sites, future developments and competitive entries into the market, becoming an overall extension of their real estate department.

Q: What's the most challenging part of your job?

A: A big challenge is matching the demand with the supply for ideal space for my clients' use. Challenges related to certain sites include: entitlement restrictions, visibility, impervious cover, signage and accessibility. From time to time there are also set exclusives in existing shopping centers that restrict my clients from being able to operate in there. This can limit choices, especially in the high-density areas in Austin.

Q: What's the most rewarding?

A: I enjoy becoming a part of my clients' real estate team, especially when they enter the Austin market for the first time. Taking them from the site selection process, through lease negotiations, and finally to opening their doors for business is very gratifying to me. Whether it is a local client's first location (Willy O's Burgers and More at Ranch 1890) or a national client's fifth location in Austin (Einsteins Bros. Bagels at Parmer and I-35), it is extremely rewarding to know that I was an integral part of the finished product ­-- a successful store.

Q: How have you seen real estate activity change since you came on board?

A: We are seeing lifestyle centers sprout up, such as The Domain, the Mueller redevelopment, and the Hill Country Galleria. These centers gear toward the "live, work and play" attitude and cater to the Austin style we all love. Also, retail centers are becoming much larger, as are the retailers themselves. HEB has developed HEB Plus, a larger model of its current stores with additional household goods. Target and Wal-Mart are increasing their square footage to maximize their sales potential and to meet their customers' needs. Major retailers are opening these extra-large stores on the outskirts of Austin and are fulfilling the motto "Everything's bigger in Texas."

Q: How is Williamson County different from Travis?

A: The limited space in the core of Austin restricts big-box retailers from entering established areas, therefore developers are entering into suburban markets with greater availability of land and with high retail demand due to rapid residential growth. Additionally, the extension of State Highway 130, State Highway 45 and U.S. 183A has increased commercial and residential development opportunities. There are also fewer restrictions on zoning, exclusives and impervious cover as well as a much shorter permitting and construction time. Williamson County has more retail space inventory available, thus providing more choices at a lower price and allowing our clients to maximize their profits and minimize their risk.

Q: Are there any particular cities that are garnering more interest?

A: Round Rock has had tremendous retail growth over the last five years, especially with IKEA joining other tenants in the area as well as being the home to Dell's headquarters. Round Rock also has two new hospitals under construction as well as medical offices and university expansion. As the daytime population grows, there will continue to be a large retail demand.

Pflugerville was ranked 23rd among the nation's fastest-growing suburbs in the United States, according to Forbes, and has greatly benefited from the opening of SH 130 and SH 45. Developers are pursuing opportunities along the toll road at prime intersections to capture the changing traffic patterns. This area is appealing to tenants because they see the potential of capturing a large market with limited competition as the area continues to develop.

Cedar Park has also become a major retail hub with the emergence of 183A.

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