Former CBRE senior managing director Naveen Jaggi has moved over to JLL, where he will oversee 25 major markets as president of retail brokerage in the Americas. This weekend, Naveen told the Chronicle that Houston retail activity is coming back to the the central city with development at the Galleria, Highland Village and River Oaks District. (Those areas are getting killer rents—Transwestern managing director Nick Hernandez is asking for $200/SF at the River Oaks District.)
It’s not all over for the ‘burbs, though—the 290 corridor has a tremendous amount of development, Naveen told the Chronicle. Katy, Clear Lake and League City are also strong today. Speaking at our Retail Summit in November, Evergreen Realty president Lilly Golden (here with Houston Group's Lawrence Schanzmeyer) said retailers particularly like Katy because it’s a homogenous market with an increasing daytime population. Meanwhile, there’s a flurry of activity up near Exxon, like Regency Center’s recently announced Marketplace at Springwoods Village.
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