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Retail Begins To Cool After Red-Hot Cycle

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Cash register, retail sales, shopping

Houston's booming retail market is rebalancing. According to JLL's Q1 research, construction declined for the third consecutive quarter, falling to 2.7M SF while vacancy rose to 5.1% from its cyclical low of 4.9%. Vacancy remains well below the 10-year average.

Demand will likely temper in 2017 as a weak office market impacts the sector, though indicators continue to point to a healthy level of growth for retail. As construction also drops, JLL predicts supply and demand will rebalance and vacancy will remain largely unchanged. 

Related Topics: JLL, Houston Retail