Update! 2016 retail record in Houston; 2017 kicking offUpdate! 2016 retail record in Houston; 2017 kicking offhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=155072017-01-04T06:00:00Z2017-01-04T23:45:00Z

​​HOUSTON – ​The Houston retail market closed the year with the highest net absorption on record, reaching over 4 million sf—over half of this year’s demand was in new development projects, reports CBRE Houston Retail MarketView Q4 2016.​

CBRE released an insert today which is now in the online report. It has historical data, submarkets and employment trends.

During the height of this leasing cycle (2013–2016), Houston absorbed 10.6 million sf, during the same period the market delivered 9.2 million sf sustaining occupancies at a historic high of 94.3 percent.​

​Prime space, the target of most tenants currently in the market, is even more scarce at 98 percent occupied and tighter yet in urban trade areas. 

In 2017, Houston will see construction kick off more stacked power centers and the city’s first two-story grocery store as land prices and availability combined with climbing construction costs play a larger role in changing the urban retail landscape.​​

Houston-The Woodlands-Sugar Land
https://assets.recenter.tamu.edu/documents/mktresearch/Houston_CBRE_Retail_MarketView.pdfRead more at {Source}

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