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Houston Retail Space In-depth The fourth largest city in the United States, Houston is located in Harris County, and is the largest city in the state of Texas.
The impact of today’s worldwide economic downturn and credit crunch is significant, but it is in no way the worst in history, especially for Houston retail space. Houston was hit harder than other markets in the 1980s... Read More
Houston Retail Space In-depth The fourth largest city in the United States, Houston is located in Harris County, and is the largest city in the state of Texas.
The impact of today’s worldwide economic downturn and credit crunch is significant, but it is in no way the worst in history, especially for Houston retail space. Houston was hit harder than other markets in the 1980s; in a way, this guaranteed that the city would be ahead of the rest of the nation in terms of avoiding a recession. Compared to the rest of the country, current demand for retail space in Houston continues to be high, with a relatively low vacancy rate.
Houston’s economy is still largely based on energy, but to a lesser extent than in years past. Houston’s growing population and strong economy continues to fuel a reasonably healthy retail space market. A relatively low unemployment rate and a low cost of living are driving forces of the resilient retail market in Houston.
Aside from retailers who have liquidated – Circuit City, Mervyns, Linens ‘N Things – no major retailer has completely abandoned the market. New retail space in Houston, such as Plazamericas, Alameda Mall, Pasadena Town Square and The Pavilions of Houston have attracted several new businesses to the city.
In light of the bad times, the positive retail space market in Houston is keeping many retailers alive. As a result, retail space in Houston is somewhat insulated and the value of retail, in the long run, will increase.
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