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Houston retail overview 3Q 2012: Marcus & MillichapHouston retail overview 3Q 2012: Marcus & Millichaphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=91982012-10-29T09:24:00Z2012-10-29T00:00:00Z

HOUSTON - Over the 12-month period ending in June 2012, developers completed 751,000 sf of new retail space in the Houston metro — a sizable increase from the preceding period, when just over 300,000 sf came online.

Retail vacancy ended second quarter 2012 at 10.5 percent, equivalent to six months earlier but 40 basis points lower than the rate reported mid-2011.

Year over year, average asking rents increased 1.1 percent to $15.43 per sf. Effective rents rose at a similar pace to $13.18 per sf.

Submarket Vacancy Rate
Submarket Vacancy
Rate
Y-O-Y Basis
Point Change
Effective
Rents (psf)
Y-O-Y
Change
Inner Loop West 6.5% 50 $19.34 1.1%
I-10 West 7.6% 100 $14.54 1.1%
Outer Loop West 8.0% 90 $11.17 2.8%
Southwest 8.4% 10 $16.19 0.2%
Southeast 9.4% -150 $11.28 -0.5%
I-10 East 10.5% -90 $10.66 1.9%
I-10 Far West 10.6% -170 $12.85 1.3%
Montgomery County 10.6% -170 $14.47 2.0%
Fort Bend County 10.7% -90 $11.85 1.0%
Northwest 13.2% -40 $12.93 1.1%


For more information, visit Marcus & Millichap Real Estate Investment Services.

Marcus & Millichap Real Estate Investment Services
Houston-The Woodlands-Sugar Land
Retail
http://www.marcusmillichap.com/research/reports/retail/houston_3q12lrr.pdfRead more at {Source}

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