{{titleBar.title}}

{{titleBar.tagline}}

 

 

Colliers: Houston retail hits low vacancy in 1Q 2015Colliers: Houston retail hits low vacancy in 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=9282015-05-26T12:50:00Z2015-05-26T06:45:00Z

HOUSTON - Colliers International has released its first quarter 2015 Houston Retail Market Research and Forecast Report. Houston’s retail market vacancy hit another record low — 6.0 percent — pushing rents higher

Houston’s retail market posted 707,653 sf of positive net absorption in 1Q 2015.

The average citywide vacancy rate fell 10 basis points from 6.1 percent to 6.0 percent between quarters and fell by 50 basis points over the year from 6.5 percent.

Currently, there is 1.6 million sf in Houston’s retail construction pipeline.

Due to the delivery of new product and dwindling supply, the average rental rate increased 1.8 percent from $14.87 per sf to $15.14 per sf between quarters and increased 2.2 percent from $14.82 in 1Q 2014.

Houston Retail Market Summary
Category Rentable
Area (SF)
Total
Vacancy
1Q 2015
Net
Absorption
Strip centers
(unanchored)
34,188,039 8.7% 69,077
Neighborhood center
(one anchor)
69,116,397 9.8% 179,316
Community centers
(two anchors)
44,582,846 5.8% 149,170
Power centers
(3 or more anchors)
25,472,234 3.5% -9,164
Lifestyle centers 4,802,813 6.4% 10,192
Outlet centers 1,899,333 14.5% 0
Theme/entertainment 533,474 4.5% -210
Single-tenant 70,392,664 2.0% 309,272
Malls 23,002,250 5.3% 0
Greater Houston total 273,990,050 6.0% 707,653


Source: Colliers International

See Colliers International Houston Retail 1Q 2015 report.

Do you need other sources for Houston retail? Save time! Go to Houston Market Research and look under the Retail category.

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

 Search NewsTalk Texas