Jan 31, 2018
CoStar Retail: McAllen-Edinburg-Pharr Year-End 2017
HIDALGO COUNTY – The McAllen-area retail market experienced a moderate decline in market conditions in the fourth quarter 2017, according to the CoStar Group's McAllen-Edinburg-Pharr Retail Market Statistics Year-End 2017 (PDF).The vacancy...
HIDALGO COUNTY – The McAllen-area retail market experienced a moderate decline in market conditions in the fourth quarter 2017, according to the CoStar Group’s McAllen-Edinburg-Pharr Retail Market Statistics Year-End 2017 (PDF).
The vacancy rate went from 4.4 percent in the previous quarter to 5.0 percent in the fourth quarter.
Net absorption was positive 126,458 sf, and vacant sublease space increased by 2,025 sf.
Quoted rental rates increased from third quarter 2017 levels, ending at $18.30 per sf per year.
A total of two retail buildings with 288,113 sf of retail space were delivered to the market in the quarter, with 371,942 sf still under construction at the end of the quarter.
Special thanks to Michael Blum of NAI Rio Grande Valley.
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