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Houston retail vacancies' historic lows 4Q 2013Houston retail vacancies' historic lows 4Q 2013https://www.recenter.tamu.edu/news/newstalk-texas/?Item=49732014-02-11T11:59:00Z2014-02-11T08:45:00Z

HOUSTON - Retail rents were up and vacancies were down in the Houston area in fourth quarter 2013, reports Colliers International Houston.

Since 2008, retail vacancy rates have steadily gone down each year. In 4Q 2013, vacancy rates were 7 percent, compared with 7.3 percent in 4Q 2012.

Since 4Q 2012, average rental rates have increased 2.7 percent from $14.32 to $14.73. Houston retail rental rates vary widely from $10 to $70 per sf, depending on location, property type and building class.

Currently, 947,000 sf of new construction is slated for Houston, including

-  a 71,400-sf Whole Foods Market located in Vintage Marketplace; and
-  a 53,000-sf Top Golf USA located at Spring Park Center Blvd., just east of I-45 N.

Houston’s retail market posted 1.2 million sf of positive net absorption in 4Q 2013, bringing the year’s total to 3 million sf.

Experts predict Houston will see new and expanded luxury retail in Houston as well as in the suburbs, such as the Woodlands and Katy.

See more retail under Houston Market Data Sources.

Houston Retail Market Report Colliers International (slow to load)
Retail MarketView CBRE (Free Registration)
Local Retail Reports Marcus & Millichap (Free Registration)
Quarterly Retail Report NAI Houston

 

Houston Business Journal
Houston-The Woodlands-Sugar Land
Retail
http://www.bizjournals.com/houston/blog/breaking-ground/2014/02/houston-s-strong-economy-pushes-retail-vacancy.htmlRead more at {Source}

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