Houston economy slowing, opening up more retail space

Declining oil economy results in negative absorption in commercial space
  • Houston currently holds 16.65 square feet of vacant retail space.
  • Construction still booming with 3.7 million square feet underway.
  • Leasing activity dropped 6.2 percent quarter-over-quarter.

Houston’s economy, largely dependent on oil, is seeing dips as the primary source of revenue drops and countless energy jobs are eliminated, according to the Colliers International Q1 Houston Retail report.