Houston No. 7 market for luxury retailers in U.S.Houston No. 7 market for luxury retailers in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=22212014-12-11T06:55:00Z2014-12-11T00:00:00Z

HOUSTON - Houston ranked No. 7 on JLL’s top ten markets for luxury retailers in a report released at the International Council of Shopping Centers New York City conference.

The Bayou City, along with Dallas and Orlando, were cited as emerging retail markets, driven by ongoing population and income growth.

JLL’s The New World of Retail Index tracks the expansion of 350 retailers across 19 markets in the United States and assesses the vitality and attractiveness of retail markets.

The ranking factors in variables such as household income growth, the number of total retailers, rental rates, vacancy levels, total leasable area and the balance of supply and demand.

Houston’s current population of 6.4 million residents has experienced a 9 percent growth over the past five years thanks in large part to the energy markets growth within the city.

White-collar expansion has given Houston an influx of households with incomes greater than $100,000.

In turn, this increase in disposable income has spurred a growth within the mid to high-end luxury retail market of nearly 1.6 million sf, projected to arrive in 2014.

Also on the luxury retail radar are Atlanta, Orlando, San Diego, Washington, D.C. and Seattle. The other Texas cities on the list are Austin (No. 17) and San Antonio (No. 18.).

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://blog.chron.com/primeproperty/2014/12/houston-a-top-spot-for-luxury-retail-jll-reports/#29052101=0Read more at {Source}

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