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Follow on Google News | Q2 2015 Houston Retail Market Research ReportHouston’s retail market leasing activity declines in Q2 due to limited available space
By: Colliers International Over 1.1M SF of new inventory delivered during the second quarter and 87.1% of the new product is pre-leased. Houston’ Houston’s average retail vacancy rate decreased slightly from 6.0% to 5.8% between quarters, and decreased from 6.2% over the past year. The citywide average quoted retail rental rate increased 1.5% between quarters from $15.08 to $15.30 per SF NNN. The average rate has increased 2.3% on a year-over-year basis from $14.96 per SF NNN. The Houston metropolitan area created 62,300 jobs between May 2014 and May 2015, an annual increase of 2.1% over the prior year’s job growth. Sectors creating most of the jobs contributing to the annual increase include Retail Trade, Transportation, Warehousing and Utilities (mostly due to truck and pipeline transportation) Please visit www.colliers.com/ End
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