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Colliers: Houston retail report 3Q 2013Colliers: Houston retail report 3Q 2013https://www.recenter.tamu.edu/news/newstalk-texas/?Item=58122013-11-05T07:02:00Z2013-11-05T00:00:00Z

HOUSTON - Colliers International has released its third quarter 3012 Houston Retail Market Research and Forecast Report.

Houston’s retail market posted 120,000 sf of positive net absorption in third quarter 2013, bringing the year-to-date positive net absorption to 1.6 million sf. Currently there is 870,000 sf in Houston’s retail construction pipeline.

Although 196,000 sf of new retail space delivered during 3Q 2013, Houston’s retail vacancy rate remained at 6.8 percent. Community centers, outlet centers and theme/ entertainment centers vacancy rates remained unchanged at 6.3 percent, 8.3 percent, and 33.8 percent, respectively.

The citywide average quoted rental rate for all property types increased 1.0 percent from $14.75 to $14.89 per sf between quarters and 2.8 percent from $14.49 in 3Q 2012.

Houston Retail Market Summary
Category Rentable
Area (SF)
Total
Vacancy
Rate (%)
3Q 2013
Net Absorption
(SF)
YTD 2013
Net Absorption
(SF)
Strip Centers (unanchored) 32,379,938 10.5 -15,086 134,905
Neighborhood Centers (one anchor) 68,563,764 10.7 19,563 349,632
Community Centers (two anchors) 42,764,386 6.3 -6,990 370,394
Power Centers (3 or more anchors) 19,919,325 5.2 86,951 133,298
Lifestyle Centers 2,921,008 4.8 -4,758 -7,479
Outlet Centers 1,593,814 8.3 0 -6,418
Theme/Entertainment 676,840 33.8 - -
Single-Tenant 66,291,944 2.2 46,058 502,729
Malls 30,197,454 5.7 -5,725 87,355
Greater Houston Total 265,308,473 6.8 120,013 1,564,416


Source: Colliers International

Also see Colliers Houston office submarket 3Q 2013.

See Houston Market Data Sources for 3Q 2013 information for more commercial real estate.

Company News Release
Houston-The Woodlands-Sugar Land
Retail
http://www.colliers.com/en-us/houston/insightsRead more at {Source}

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