Q2 2017 | Houston Retail | Research & Forecast Report
Houston’s retail market continues to expand following increased population, jobs and housing growth in suburbs
Houston’s retail market has remained healthy through mid-year 2017,
with low vacancy, steady leasing activity and positive absorption.
Despite 1.5M SF of new construction deliveries in Q2 2017, the
average vacancy rate remained unchanged from last quarter, at 5.6%.
Almost half of the 2.3M SF of retail space under construction is preleased
and 83% of new construction delivered in 2017 is occupied.
Houston’s retail leasing activity, which includes renewals, increased
over the quarter from 1.2M SF in Q1 2017 to 1.4M SF in Q2 2017.
Much of the high-end class A space located within the major innercity
retail hubs is 90-100% leased. It is hard to find good quality
well located available space. Most of the space that is available is in
older centers or projects under construction in the suburbs near new
master-planned residential development. Many large retailers such
as Macy’s and Sears, have announced store closings, but there are
still new retailers entering the Houston market such as Dirt Cheap, a
deep-discount chain, which recently leased space in 3 locations.
According to the U.S. Bureau of Labor Statistics...click here to visit our website and view the complete report.