Wulfe & Co.: Houston hot retail 2014Wulfe & Co.: Houston hot retail 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=49382014-02-17T12:44:00Z2014-02-17T00:00:00Z

HOUSTON - A survey by Wulfe & Co. says 2.6 million sf of new retail space will be coming online in Houston in 2014, an increase of 34 percent over 2013.

Ever increasing land and construction costs continue to challenge retail development, but with the more prevalent availability of financing and low interest rates to mitigate the higher costs, 2014 should experience pace setting activity to meet the demand for space.

An influx of new residents and a housing boom has awakened shopping center developers in Houston as new stores, restaurants and mixed-use projects pop up near new rooftops.

“Over 19,000 new multifamily residential projects are projected for 2014, which far exceeds annual production in any of the past several years as Houston continues to densify,” says Ed Wulfe.

Significantly, almost all of the new shopping center space included in Wulfe’s 2014 Survey is preleased with only 10-15 percent devoted to speculative space.

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