HOUSTON – Area retail rents increased to $16.99 per sf this month, up $0.09 from first quarter 2018, according to NAI Partners.
This is the highest growth rate recorded since NAI began reporting on this data.
The retail market's year-to-date occupancy rate remained steady at 94.6 percent. The market saw 1.6 million sf of positive net absorption, and supply is expected to match that.
According to Real Capital Analytics, retail sales transaction volume totaled $441 million midway through May. Private capital has been the most active buyer type for 2018, comprising 81 percent of the total sales volume. User/other buyers represented 12 percent, and cross-border investors covered the majority of the remaining 7 percent.
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