CBRE: Houston Retail MarketView 3Q 2017CBRE: Houston Retail MarketView 3Q 2017https://www.recenter.tamu.edu/news/newstalk-texas/?Item=179752017-10-17T05:00:00Z2017-10-17T22:40:00Z

​​​​CBRE Houston net absorption and occupancy graphHOUSTON – ​​CBRE has released ​​the third quarter 2017 Houston Retail ​MarketView report​

Interested in submarkets? Then this report is for you!

Key Highlights:
Harvey impact minimal
  • A dwindling pipeline, temporary requirements, increased demand from home improvement tenants, and sustained organic retail demand will keep Houston retail in very tight conditions.
  • Prior to Harvey, Houston’s Class A retail market was 97.2 percent occupied. Since the storm, Class A occupancy has increased to 97.6 percent—approximately 35 basis points.
New developments capture bulk of absorption
  • Almost all of the 311,552 sf of new absorption was taken up by newly delivered centers, including the Grand Parkway Marketplace located in the Far North submarket.
  • Year-to-date, over 2 million sf was absorbed in new development—counterbalancing national closures and bankruptcies.
  • Although more speculative strip centers are underway, projects delivered in third quarter 2017 were 89 percent leased. Of the 1.5 million sf currently under construction, 71 percent is pre-leased.
Consumer Outlook
  • ​​​​Retail sales should continue to see gains, especially in the automotive, home improvement, furniture and appliance segments.​
Houston-The Woodlands-Sugar Land

See more commercial retail quarterly reports under Austin, DFW​, Houston ​and San Antonio​

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