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How three Texas metros fit in the U.S. retail mixHow three Texas metros fit in the U.S. retail mixhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=8642015-06-02T11:11:00Z2015-06-02T00:00:00Z

DFW, HOUSTON, SAN ANTONIO - The U.S. economy remained sluggish in first quarter 2015 as the U.S. gross domestic product (GDP) increased at an annualized rate of 0.2 percent, a further slowdown from the already sluggish 2.2 percent rate of growth recorded in fourth quarter 2014.

Despite the temporary economic lull in the first quarter, the Consumer Confidence Index as measured by the Conference Board rose above 100 for the first time since 3Q 2007.

Notably, cap rates for urban/storefront assets averaged 5.0 percent, providing further evidence of the sector’s popularity.

Geographically, Manhattan and Los Angeles led all other U.S. markets in first quarter retail transaction volume by a sizeable amount, totaling $6.5 billion and $6.2 billion, respectively.

Other top five markets included Chicago, Dallas and the outer boroughs of New York City, all of which recorded transaction volume of $2.0 billion or more.

U.S. Market Statistics*
Market** Inventory
(SF)
Vacancy
Rate
YTD
Net
Absorption
YTD
Deliveries
(SF)
Under
Const.
(SF)
Avg.
Asking
Rent
($/PSF/
YR)
Chicago 511,826,793  8.4% 15,195 215,888 2,133,460 $15.85
Dallas-Fort Worth 389,652,139 6.6% 1,294,563 947,892 3,484,073 $14.19
Houston 350,795,981 5.6% 598,126 628,889 1,667,297 $15.28
Atlanta 349,588,959 8.3% 212,045 32,839 531,807 $12.63
Phoenix 217,289,781 9.7% 545,110 385,110 548,729 $13.85
San Antonio 124,120,762 5.3% 23,137 63,817 243,167 $14.29
Total Market*** 10,129,499,248 6.1% 11,614,083 9,476,149 42,995,069 $15.60


*Ranked by inventory
**Select U.S. markets. Retail properties only. Does not include retail space in non-retail buildings (i.e. office, condo, apartment, etc.)
***Total Market represent all U.S. markets by CoStar Group.

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Dallas-Fort Worth-Arlington
Retail
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