Houston Retail | Monthly Market Snapshot | February 2019

Market Highlights Record-High Asking Rents. Houston has maintained a steady, high occupancy rate in the retail sector at or above 94.0% during the last five years, registering at 94.4% midway through the first quarter of 2019. Tenancy of the 4.7 million sq. ft. delivered to the market in 2018 stands at 74.6%, and of the 3.7 million sq. ft. currently under construction, 35.2% of that space is available for lease. The mounting average asking rate of renting retail space is at a record high for Houston at $17.68 per sq. ft. on a triple net basis, up 5.7% from this time last year at $16.73 per sq. ft. Click here to read more at www.naipartners.com.