Retail rents see wholesale rise
- While high-profile bankruptcies of big-box retailers have monopolized industry headlines, the data for Houston’s brick-and-mortar retail space tells a very different story. Rents are on the rise, occupancy levels stand at around 94 percent, and there are over 3.7 million sq. ft. under construction as developers rush to keep up with demand
TOYS R US puts its toys away
- The giant toy store is closing all of its 735 Toys R Us and Babies R Us locations nationwide on Friday, including 65 locations in Texas, and affecting around 33,000 employees. The 18 Toys R Us and Babies R Us stores in Houston comprise nearly 675,000 sq. ft. of total space and span from a 3,200 sq. ft. express store in Texas City to a 65,522 sq. ft. shop in Katy. A little over half of these locations are leased, while the rest are owned by the retailer.
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