Q1 2022 | Houston Retail Market Report

By: Colliers | Houston
 
HOUSTON - April 26, 2022 - PRLog -- "Despite combatting mandates, labor shortages and now rising food costs, national restaurant concepts are still pushing to expand their presence in Texas."
Wade H Greene IV, CCIM | Principal |Director of Retail Services | Houston

Key Takeaways
  • Vacancy continues to decrease
  • Positive absorption recorded
  • Rental rates increased 3.5% annually
  • Q1 leasing volume reaches 1.9M SF

Houston Highlights

Houston's vacancy rate decreased 20 basis points from 5.8% to 5.6% over the quarter as more inventory was leased than new inventory delivered. Houston's retail sector recorded 1.1 million square feet of positive net absorption in the first quarter. Leasing volume reached 1.9 million square feet in Q1, an increase of 26% over the quarter. The average asking rental rate increased marginally over the quarter, but increased by 3.5% on an annual basis.

Executive Summary

Commentary By Hannah Tosch | Senior Associate

How are rising food prices affecting Houston's food and beverage scene?


The restaurant industry is tough enough as it is when times are good. Margins are tight, quality staffing is challenging, and the competition is ever-changing. Especially in a culinary capital like Houston. When you factor in a global pandemic, the war in Ukraine, supply chain problems and inflation, an already cutthroat industry needs more than just thick skin to survive. The rise in food prices has forced the... Read the full report here: https://www.colliers.com/en/research/houston/q1-2022-hous...

Contact
Lisa Bridges | Director of Market Research
***@colliers.com
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Tags:Houston Retail Market Report
Industry:Real Estate
Location:Houston - Texas - United States
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