Houston Greenspoint purchase shows high retail demandHouston Greenspoint purchase shows high retail demandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=149762016-10-31T05:00:00Z2016-10-24T20:00:00Z

​​HOUSTON - West Road Collection, a neighborhood shopping center in the Greenspoint area of north Houston has been sold ​to Hass Holdings LLC for $15 million.​The 65,798-sf shopping center is 98 percent leased and has remained stabilized with an average occupancy rate of approximately 95 percent over the last five years.

With more than 6.5 million residents, Houston continues to be one of the fastest-growing metro areas in the nation.

Houston’s retail market experienced the strongest net absorption in a single quarter since the last three months of 2007. 

Houston’s retail sales totaled $118 billion in 2015, and retail development activity has dramatically increased in the last year, according to CBRE research.

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