The Houston retail industry is expected to see a large influx of development in 2016, catching up to the metro’s high-demand housing market. The metro has routinely led the nation when it comes to annual housing starts. Now the retail sector appears to be catching up, as construction activity in the sector will noticeably increase in 2016. According to Houston-based Wulfe & Co.’s annual retail survey, 4.53 million square feet of new retail shopping center space will be built and opened in the greater Houston area this year, which equates to a 33 percent year-over-year increase in volume.
- Supermarkets will account for the highest percentage of retail space built and delivered.
- Mall expansions and mixed-use developments will account for most of urban Houston's new retail.
- Minimal spec space will be delivered.