HOUSTON (NAI Partners) (From Texas A&M Real Estate Center) – March 3, 2020 – Local retail occupancy was 94.3 percent in January, down 10 basis points from this time last year, according to NAI Partners.
Of the 3.2 million sf currently under construction, about 66 percent has been leased.
The market recorded 532,493 sf of leasing activity, 7 percent less than the year-to-date activity from January 2019.
Net absorption was 175,489 sf, with new supply delivering 557,197 sf of which 72 percent is occupied.
The average asking retail rental rate was $17.92 per sf on a triple net basis, up 1.4 percent.