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Houston is No. 1 in the Nation in Retail Construction

HOUSTON – Houston will lead the nation in retail space construction this year with more than 3.2 million SF of space completed, according to the third quarter retail report from Marcus & Millichap.

This comes even as Houston job growth is slowing. Marcus & Millichap is projecting only 5,000 jobs will be created in the Houston area in 2016, as the energy sector continues to shake out.

The retail expansion is following suburban growth around Houston. Houston led the nation in home construction in recent years, although it is not in the top spot this year. Retail developers are just now catching up with the housing surge, mainly via grocery-anchored retail centers.

September 1, 2016 Realty News Report Copyright 2016

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