Houston retail market sees modest growthHouston retail market sees modest growthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=82242013-02-15T14:12:00Z2013-02-15T00:00:00Z

HOUSTON - Houston’s stable retail market is just happy to be moving forward at all. The retail market reported only about a 1.7 percent increase in occupancy rates from 88.9 percent in 2011 to 89.5 percent in 2012, according to the Weitzman Group year-end retail report.

The market is currently seeing new construction, primarily limited to projects anchored by grocers or large-format discount retailers. Houston added about 844,000 sf of new retail space during 2012, compared with 600,000 sf added in 2011.

Weitzman and its sister company, Dallas-based Cencor Realty Services, reviewed Houston-area retail market inventory of about 146,182,000 sf in multitenant retail centers with 25,000 sf or more.

Average Retail Rental Rates Per SF in
Houston's Hottest Areas
Area 2012 2011
Post Oak/San Felipe intersection $19.94 $18.75
Energy Corridor, Memorial City, Katy $20.38 $15.94

Source: CBRE Group Inc. Houston office

Average Rates Per SF
Class A small shop $25-$33
Class B small shop $15-$20
Class C small shop $12-$15

Source: The Weitzman Group

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/print-edition/2013/02/15/houston-retail-market-sees-modest.htmlRead more at {Source}

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