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Follow on Google News | Q3 2015 Houston Retail Market Research ReportHouston’s retail market leasing activity decreases 41.9% in Q3 due to limited available space
By: Colliers International Fortunately, there is currently 2.6M SF of retail space under construction, but only 25.0% is available as 75.0% is pre-leased. Close to 400,000 SF of new inventory delivered during the third quarter and 83.0% of the new product is pre-leased. Houston’s average retail vacancy rate decreased slightly from 5.8% to 5.7% between quarters, and decreased from 6.1% over the past year. The citywide average quoted retail rental rate decreased marginally between quarters from $15.18 to $15.15 and annually from $15.05 per SF NNN. The Houston metropolitan area created 38,400 jobs between August 2014 and August 2015, an annual increase of 1.3%. Sectors creating most of the jobs contributing to the annual increase include Legal Services and Accommodation & Food Services. Employment sectors that lost the most jobs over the year include Durable Goods & Manufacturing and Real Estate & Rental and Leasing. Visit our website at www.colliers.com/ End
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