MARKET WATCH HOUSTON RETAIL - Texas A&M · PDF filefirms in Houston, we offer a comprehensive...

HOUSTON RETAILAUGUST 2016

RECENT RETAIL LEASES

Baytown/Chambers :: Marshalls 23,000 SF new lease at Baytown Marketplace

Pasadena/Galena Park :: Boot Barn13,249 SF new lease at Federal East Plaza

Pearland/Manvel :: Village Family Practice8,763 SF new lease at Silverlake Plaza Shopping Center

RECENT RETAIL SALES

Copperfield :: West Junction Center 64,340 SF Buyer: Transnational InvestmentsSeller: KBP Group III

RETAIL IN THE NEWS

Paris gelato shop arrives in River Oaks District with French flair and rose-shaped cones link to storyCultureMap Houston, August 23, 2016

SoulCycle’s second Houston studio sets opening date link to storyHouston Business Journal, August 19, 2016

Fast-growing pizza chain continues Houston expansion link to storyHouston Business Journal, August 16, 2016

RETAIL LEASE STATISTICS

Source: CoStar - Houston retail buildings 5,000 SF and greater

Retail Market IndicatorsSUBMARKET TOTAL RBA (SF)

DIRECT VACANT (SF)

DIRECT VACANCY RATE

OVERALL VACANCY RATE

SF UNDER CONSTRUCTION

Q2 2016 NET ABSORPTION

East (Chambers County/Baytown, Channelview & Pasadena/Galena Park) 13,356,618 958,872 7.2% 7.2% 142,807 35,980

Inner Loop (CBD, Galleria, Uptown, University, River Oaks, Heights & East End) 31,773,787 976,482 3.1% 3.1% 83,098 71,325

North (Near North, FM 1960/I-45, Greenspoint/North Belt, Spring Creek, Far North & Montgomery County)

58,589,294 3,129,435 5.3% 5.4% 720,523 416,012

Northeast (Near Northeast, Lake Houston, Kingwood & Liberty County) 13,150,889 465,262 3.5% 3.5% 545,995 246,771

Northwest (Addicks, Bridgelands, Cypresswood, Fairfield, Far Katy North, Far Northwest, Far Tomball, Jersey Village, Near Northwest Oaks, Near NW Spring Valley, Willowbrook)

57,908,713 2,893,899 5.0% 5.0% 957,880 461,833

South (Far South & Near South) 14,075,127 683,042 4.9% 5.0% 18,346 172,631

Southeast (NASA/Clear Lake, Near Southeast, Southeast Outlier ) 51,983,112 3,351,499 6.4% 6.5% 602,462 226,482

Southwest (Near SW Central, Stafford, Sugar Land, Far New Territory, Far West, Far Southwest )

43,136,389 2,505,257 5.8% 5.9% 482,115 142,107

West (Near West, Westchase, Far West, Far Katy South) 39,802,643 1,902,389 4.8% 5.0% 114,437 132,490

Total - Houston 323,776,572 16,866,137 5.6% 5.6% 3,667,663 1,905,631 Source: Costar - Houston retail buildings 5,000 SF and greater

Retail Sales StatisticsHOUSTON MSA UNITED STATES

QUARTER TO DATE

LAST QUARTER (Q2 2016)

TRAILING 12 MONTHS


TRAILING 12 MONTHS

Volume ($ Mil)

$78.1 $357.1 $1,401.3 $17,774.7 $80,587.8

No. of Properties

14 30 149 1,404 6,856

Total SF 469,938 1,586,161 8,750,872 79,754,256 410,607,933

Average Price/SF

N/A $185 $201 $232 $210

Average Cap Rate (Yield)

N/A 7.8% 6.7% 6.4% 6.5%

Source: Real Capital Analytics

MARKET WATCH

Overall Vacancy Rates Asking Rental Rates (NNN)

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115

Q215

Q315

Q415

Q116

Q216

$16.75

$17.00

$17.25

$17.50

$17.75

$18.00

$18.25

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

http://houston.culturemap.com/news/restaurants-bars/08-23-16-paris-based-gelato-shop-amorino-river-oaks-district/#slide=0

http://www.bizjournals.com/houston/news/2016/08/19/soulcycle-sets-date-to-start-cycling-at-second.html

http://www.bizjournals.com/houston/news/2016/08/16/fast-growing-pizza-chain-continues-houston.html?ana=e_ae_set2&s=article_du&ed=2016-08-16&u=Ygd98RImsWkey8Xi50dMeA09ed043a&t=1471437875&j=75455822

MARKET WATCH HOUSTON RETAIL MARKET AUGUST 2016

HOUSTON RETAIL MARKET WATCHAUGUST 2016

45

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Map

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Gulf Freeway/Pasadena

Baybrook / Clear Lake

Old Pearland / Alvin

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Pasadena / Galena Park

Channelview / Beaumont

Baytown / Chambers

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FM 1960 & I-45

Greens Point - North Belt

Spring Creek

Far North

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Near Northeast

Atascocita

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Liberty County

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Bellaire / West University

Galleria/Uptown

Inner Loop / River Oaks

Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest

Tomball/Spring Cypress

Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch

Sharpstown - Southwest Central

West Oaks

Sugar Land - Stafford

Richmond Rosenberg

Houston | RETAIL SUBMARKETS

INNER LOOP

1. CBD2. Bellaire/West University3. Galleria/Uptown4. Inner Loop/River Oaks5. Heights6. East End

WEST

1. Memorial2. Westchase3. Energy Corridor4. Katy/Cinco Ranch

NORTH

1. Near North2. FM 1960 & I-453. Greens Point/North Belt4. Spring Creek5. Far North6. The Woodlands/Montgomery

SOUTHWEST

1. Sharpstown/Southwest Central2. West Oaks3. Sugar Land/Stafford4. Richmond/Rosenberg

NORTHWEST

1. Northwest Oaks2. Spring Branch3. Willowbrook4. Jersey Village5. Copperfield6. Fairfield7. Cypress/Bridgelands8. Far Katy North9. Far Northwest10. Tomball/Spring Cypress

NORTHEAST

1. Near Northeast2. Atascocita3. Kingwood4. Liberty County

SOUTH

1. Pearland / Manvel2. Near South

EAST

1. Pasadena/Galena Park2. Channelview/Beaumont3. Baytown/Chambers

SOUTHEAST

1. Gulf Freeway/Pasadena2. Baybrook/Clear Lake3. Old Pearland/Alvin

Copyright © 2016 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein.


SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO

DETROIT GREENWICHNEW YORK

NEW JERSEY

BALTIMORENORTHERNVIRGINIA

BETHESDAWASHINGTON DC

DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA

FORT LAUDERDALEORLANDO

MIAMI-DADE

SANFRANCISCO

PHOENIXORANGE COUNTY

SAN DIEGO

BOSTON

SILICONVALLEY

TRANSWESTERNLOCATIONS

HOUSTON RETAIL TEAM

Nick HernandezManaging [email protected]

Micha van Marcke, CCIMSenior Vice [email protected]

Grant WalkerSenior Vice [email protected]

Crystal AllenSenior Vice [email protected]

Chace HenkeVice [email protected]

Chris ReyesVice President [email protected]

METHODOLOGY

The information in this report is the result of a compilation of publicly available data from a variety of commercial and government sources.

T 713.270.7700 F 713.270.6285www.transwestern.net/houston

1900 West Loop South, Suite 1300Houston, Texas 77027

Cindy PhamSenior [email protected]

Danielle SchidlowskiAssociate713.231.1584danielle.schidlowski@transwestern.com

Alex [email protected]

ABOUT TR ANSWESTERN

Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.

Transwestern was founded in Houston, Texas in 1978, and Houston remains the corporate headquarters today. As one of the preeminent commercial real estate firms in Houston, we offer a comprehensive menu of real estate services designed to provide owners, tenants and investors with the optimum solutions for their unique requirements. Transwestern has seasoned veterans in every area of expertise with the integrity, experience and creativity to be the best partner for its clients. Transwestern’s Houston office currently employs over 400 team members and has been an innovator in the Houston market for 38 years.

Ryan [email protected]

Tyler Trevino [email protected]

Kevin RobertsPresident, [email protected]

CONTACT

Rachel AndraeResearch [email protected]

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HOUSTON RETAILMAY 2016


Sugar Land/Stafford :: 24 Hour Fitness 38,000 SF new lease at Brazos Town Center

Greenspoint/North Belt :: Epic Thrift Stores 29,500 SF new lease at Deerbrook Commons

Atascocita :: Old Navy12,500 SF new lease at Westlake Marketplace

Bellaire/West University :: Dollar Tree12,000 SF new lease at Loop Center

RECENT RETAIL SALES

Pasadena/Galena Park :: Federal Road Shopping Center 18,330 SF Buyer: B&G Real Estate PartnershipSeller: Federal 883, LLC

RETAIL IN THE NEWS

H-E-B is keeping to its growth plans link to storyHouston Chronicle, May 9, 2016

Japanese retailer inks first Houston lease, more in the works link to storyHouston Business Journal, May 9, 2016

Austin-based burger chain sets May 30 as Houston opening date link to storyCultureMap Houston, May 9, 2016




DIRECT VACANT (SF)

DIRECT VACANCY RATE




East (Chambers County/Baytown, Channelview & Pasadena/Galena Park) 13,294,367 917,311 6.9% 6.9% 99,707 39,525

Inner Loop (CBD, Galleria, Uptown, University, River Oaks, Heights & East End) 31,569,594 1,010,227 3.2% 3.3% 51,818 (15,996)

North (Near North, FM 1960/I-45, Greenspoint/North Belt, Spring Creek, Far North & Montgomery County)

57,926,824 3,070,122 5.3% 5.3% 619,399 491,778

Northeast (Near Northeast, Lake Houston, Kingwood & Liberty County) 12,966,748 868,772 6.7% 6.8% 731,895 15,807

Northwest (Addicks, Bridgelands, Cypresswood, Fairfield, Far Katy North, Far Northwest, Far Tomball, Jersey Village, Near Northwest Oaks, Near NW Spring Valley, Willowbrook)

57,247,720 2,976,881 5.2% 5.2% 674,960 (105,255)

South (Far South & Near South) 13,911,039 806,840 5.8% 5.9% 173,896 54,481

Southeast (NASA/Clear Lake, Near Southeast, Southeast Outlier ) 51,594,849 3,147,286 6.1% 6.1% 797,548 (205,616)

Southwest (Near SW Central, Stafford, Sugar Land, Far New Territory, Far West, Far Southwest )

42,924,131 2,704,220 6.3% 6.3% 78,168 47,922

West (Near West, Westchase, Far West, Far Katy South) 39,604,466 1,861,410 4.7% 4.8% 87,794 147,175

Total - Houston 321,039,738 17,363,070 5.5% 5.5% 3,315,185 469,821 Source: Costar - Houston retail buildings 5,000 SF and greater


QUARTER TO DATE


TRAILING 12 MONTHS


TRAILING 12 MONTHS

Volume ($ Mil)

$12.1 $188.1 $1,290.8 $18,139.4 $81,286.1

No. of Properties

4 26 155 1,672 7,206

Total SF 47,059 954,807 8,569,674 104,728,340 427,002,596

Average Price/SF

N/A $218 $199 $191 $206


N/A 7.3% 6.8% 6.6% 6.6%


MARKET WATCH


Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115

Q215

Q315

Q415

Q116

$16.75

$17.00

$17.25

$17.50

$17.75

$18.00

$18.25

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

http://www.houstonchronicle.com/business/retail/article/H-E-B-No-plans-to-take-over-smaller-Fresh-Market-7423634.php

http://www.bizjournals.com/houston/news/2016/05/09/japanese-retailer-inks-first-houston-lease-more-in.html?iana=ind_retail

http://houston.culturemap.com/news/restaurants-bars/05-09-16-hopdoddy-houston-opens-may-30-river-oaks-district/#slide=0

MARKET WATCH HOUSTON RETAIL MARKET MAY 2016

HOUSTON RETAIL MARKET WATCHMAY 2016

45

45

45

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610

10

290

59

90

288

99

249

8

35

6

See Inner Loop

Map

Inner Loop

3

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Baytown / Chambers

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ST

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Near South

1

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TH

Near North

FM 1960 & I-45


Spring Creek

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1

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Near Northeast

Atascocita

Kingwood

Liberty County

1

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Heights

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Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


INNER LOOP


WEST


NORTH


SOUTHWEST


NORTHWEST


NORTHEAST


SOUTH


EAST


SOUTHEAST



HOUSTON RETAIL MARKET WATCHMAY 2016

SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUSTON RETAIL TEAM



Grant WalkerSenior Vice [email protected]

Crystal AllenSenior Vice [email protected]

Chace HenkeVice [email protected]

Chris ReyesVice President [email protected]

METHODOLOGY


CONTACT

Rachel AlexanderDirector of Market [email protected]



Cindy PhamSenior [email protected]



ABOUT TR ANSWESTERN



Lauren [email protected]


Tyler Trevino [email protected]







mailto:Rachel.Alexander%40transwestern.com?subject=

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HOUSTON RETAILSEpTEmbER 2015

Recent RetAIL LeAses

Sugar Land/Stafford :: Fishing Tackle Unlimited27,930 SF new lease at Sugar Creek Village

Willowbrook :: Giant Dollar11,000 SF new lease at Commons at Lincoln Green

Far North :: Red Barn Special Events5,600 SF new lease at 5814 FM 1488

Recent RetAIL sALes

Baybrook/Clear Lake :: Bayway Village II 142,935 SF Buyer: DuWest RealtySeller: David Z. Mafridge Interests

RetAIL In tHe neWs

Midtown’s newest restaurant features burgers and park views, but don’t call it Shake Shack link to storyCultureMap Houston, September 18, 2015

NewQuest to develop Kroger-anchored center in Katy area link to storyHouston Chronicle, September 17, 2015

Krispy Kreme to open two Houston locations next months, plans for more growth in 2016 link to storyHouston Business Journal, September 17, 2015




DIRECT VACANT (SF)

DIRECT VACANCY RATE




East (Pasadena/Galena Park, Channelview/Beaumont & Baytown/Chambers) 13,170,754 913,943 8.9% 8.9% 9,960 35,529

Inner Loop (CBD, Bellaire/West U, Galleria/Uptown, River Oaks, Heights & East End) 26,839,751 1,129,294 4.2% 4.2% 284,865 (32,093)

North (Near North, FM 1960/I-45, Greenspoint/North Belt, Spring Creek, Far North & The Woodlands/Montgomery)

56,636,692 2,904,431 7.1% 7.2% 96,063 199,747

Northeast (Near Northeast, Atascosita, Kingwood & Liberty County) 12,501,866 568,654 7.5% 7.5% - 133,866

Northwest (NW Oaks, Spring Branch, Willowbrook, Jersey Village, Copperfield, Fairfield, Cypress/Bridgelands, Far Katy North, Far NW & Tomball/Spring Cypress)

56,440,553 2,975,567 6.3% 6.3% 956,331 98,378

South (Pearland/Manvel & Near South) 13,473,374 664,771 6.9% 6.9% 164,640 168,115

Southeast (Gulf Frwy/Pasadena, Baybrook/Clear Lake & Old Pearland/Alvin) 50,203,689 2,944,715 5.9% 5.9% 260,752 128,720

Southwest (Sharpstown/Southwest Central, West Oaks, Sugar Land/Stafford & Richmond/Rosenberg)

42,935,002 2,657,211 7.3% 7.4% 66,275 132,197

West (Memorial, Westchase, Energy Corridor & Katy/Cinco Ranch) 38,410,219 2,096,968 5.5% 5.7% 193,750 85,059


Retail Sales StatisticsHouSTon MSA unITEd STATES

QuARTER To dATE

LAST QuARTER (Q2 2015)

TRAILIng 12 MonTHS

LAST QuARTER (Q2 2015)

TRAILIng 12 MonTHS

Volume ($ Mil)

$238.3 $287.1 $1,697.0 $19,118.5 $90,424.6

No. of Properties

23 39 168 1,727 7,347

Total SF 2,322,666 1,627,909 9,956,761 94,933,346 439,366,581

Average Price/SF

N/A $176 $189 $213 $214


N/A 7.3% 7.1% 6.6% 6.6%


MARkET WATCH


Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 $17.00

$17.20

$17.40

$17.60

$17.80

$18.00

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

http://houston.culturemap.com/news/restaurants-bars/09-17-15-midtowns-newest-restaurant-features-burgers-and-park-views-but-dont-call-it-shake-shack/#bmtags:title-link,placement:slot-1

http://www.houstonchronicle.com/business/real-estate/article/NewQuest-to-develop-Kroger-anchored-center-in-Katy-6504221.php

http://www.bizjournals.com/houston/news/2015/09/17/exclusive-krispy-kreme-to-open-two-houston.html?iana=ind_retail

MARKET WATCH HOUSTON RETAIL MARKET SEpTEMEbER 2015

HOUSTON RETAIL MARKET WATCHSEpTEmbER 2015

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290

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See Inner Loop

Map

Inner Loop




1

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AST



Baytown / Chambers

1

2

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ST

Pearland / Manvel

Near South

1

2SOU

TH

Near North

FM 1960 & I-45


Spring Creek

Far North


1

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RTH

Near Northeast

Atascocita

Kingwood

Liberty County

1

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CBD


Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


nORtH


sOUtHWest


nORtHWest


nORtHeAst


sOUtH


eAst


sOUtHeAst




SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM



Tony ArmstrongVice [email protected]

Grant WalkerVice [email protected]

Crystal AllenVice [email protected]

Cindy NguyenSenior [email protected]

METHodoLogy


ConTACT


t 713.270.7700 F 713.270.6285www.transwestern.net/houston


Chace [email protected]

Chris [email protected]


ABOUt tR AnsWesteRn









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HOUSTON RETAILAUGUST 2015


Near North :: dd’s DISCOUNTS21,000 SF new lease at Eastex Shopping Center

Bridgelands :: CVS15,300 SF new lease at Lakeland Village Center

Far North :: Dollar Tree9,450 SF new lease at Cypress Station Square Center

RECENT RETAIL SALES

Channelview :: San Jacinto Mall 1.2 million SFSale Price: undisclosed Buyer: Fidelis Realty PartnersSeller: TriYar Companies

RETAIL IN THE NEWS

Retail centers are white hot investments as occupancy hits 10-year high link to storyRealty News Report, August 17, 2015

Coffeehouse developers to launch new doughnut shop in the Heights link to storyHouston Business Journal, August 11, 2015

Renovations underway at Willowbrook Mall link to storyHouston Chronicle, August 10, 2015




DIRECT VACANT (SF)

DIRECT VACANCY RATE





Inner Loop (CBD, Bellaire/West U, Galleria/Uptown, River Oaks, Heights & East End) 26,839,751 1,129,294 4.2% 4.2% 284,865 (32,093)


56,636,692 2,904,431 7.1% 7.2% 96,063 199,747



56,440,553 2,975,567 6.3% 6.3% 956,331 98,378




42,935,002 2,657,211 7.3% 7.4% 66,275 132,197




QUARTER TO DATE


TRAILING 12 MONTHS


TRAILING 12 MONTHS

Volume ($ Mil)

$169.9 $267.5 $1,682.1 $19,060.0 $90,511.0

No. of Properties

12 36 166 1,669 7,277

Total SF 1,841,594 1,527,059 9,869,868 92,564,426 436,822,702

Average Price/SF

N/A $187 $193 $220 $216


N/A 7.2% 7.1% 6.5% 6.6%


MARKET WATCH


Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 $17.00

$17.20

$17.40

$17.60

$17.80

$18.00

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

http://realtynewsreport.com/2015/08/17/retail-centers-are-white-hot-investments-as-occupancy-hits-10-year-highs/

http://www.bizjournals.com/houston/morning_call/2015/08/coffeehouse-developers-to-launch-new-doughnut-shop.html?iana=ind_retail

http://www.houstonchronicle.com/neighborhood/spring/business/article/Renovations-underway-at-Willowbrook-Mall-6435093.php

MARKET WATCH HOUSTON RETAIL MARKET AUGUST 2015


45

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Map

Inner Loop




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Baytown / Chambers

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Pearland / Manvel

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1

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FM 1960 & I-45


Spring Creek

Far North


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Atascocita

Kingwood

Liberty County

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Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


INNER LOOP


WEST


NORTH


SOUTHWEST


NORTHWEST


NORTHEAST


SOUTH


EAST


SOUTHEAST




SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUSTON RETAIL TEAM







METHODOLOGY


CONTACT







ABOUT TR ANSWESTERN




Sage [email protected]




HOUSTON RETAILjUNE 2015


Kingwood :: Ashley Furniture52,360 SF renewal at Deerbrook Corner

Spring Branch :: Harbor Freight Tools18,124 SF lease at Northway Center

Far Katy North :: Bike World10,000 SF new lease at Katy Ranch Crossing II

Recent RetAIL sALes

Pasadena/Galena Park :: Federal East Plaza 105,763 SFSale Price: undisclosed Buyer: Embrey DevelopmentSeller: Metro National Corp.

RetAIL In tHe neWs

More Sugar Land dining choices: Galleria-area Thai restaurant adds second location in the ‘burbs link to storyCultureMap Houston, June 16, 2015

Popular food truck nabs Greenway Plaza spacelink to storyHouston Business Journal, June 15, 2015

Louboutin to open first Houston location amid strong luxury retail competition link to storyHouston Business Journal, June 9, 2015




DIRECT VACANT (SF)

DIRECT VACANCY RATE



1Q2015 NET ABSORPTION

East (Pasadena/Galena Park, Channelview/Beaumont & Baytown/Chambers) 12,793,320 922,645 9.2% 9.2% 9,960 (81,236)

Inner Loop (CBD, Bellaire/West U, Galleria/Uptown, River Oaks, Heights & East End) 24,989,546 1,208,167 4.8% 4.9% 298,650 306,950


56,123,522 2,839,990 7.1% 7.2% 136,200 32,544



56,296,593 2,987,532 6.3% 6.3% 407,842 211,342


Southeast (Gulf Frwy/Pasadena, Baybrook/Clear Lake & Old Pearland/Alvin) 49,573,246 3,022,734 6.1% 6.2% 151,375 (10,143)


41,767,217 2,655,944 7.4% 7.5% 54,400 22,448




QuARTER To dATE

LAST QuARTER (1Q15)

TRAILIng 12 MonTHS

LAST QuARTER (1Q15)

TRAILIng 12 MonTHS

Volume ($ Mil)

$199.1 $712.7 $1,699.9 $24,977.8 $85,596.8

No. of Properties

22 52 161 1,729 7,055

Total SF 1,183,610 4,077,203 10,008,458 108,962,906 426,239,510

Average Price/SF

$184 $183 $188 $228 $208


7.6% 6.6% 7.1% 6.5% 6.7%


MARkET WATCH

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15


$17.00

$17.20

$17.40

$17.60

$17.80

$18.00

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

http://houston.culturemap.com/news/restaurants-bars/06-16-15-more-great-sugar-land-dining-choices-galleria-area-thai-restaurant-adds-second-location-in-the-burbs/?utm_source=dailydigest&utm_medium=email&utm_campaign=cmpgn-2015-6-17

http://www.bizjournals.com/houston/morning_call/2015/06/popular-food-truck-nabs-greenway-plaza-space.html?ana=e_hstn_rdup&s=newsletter&ed=2015-06-15&u=Ygd98RImsWkey8Xi50dMeA09ed043a&t=1434558459

http://www.bizjournals.com/houston/news/2015/06/09/louboutin-to-open-first-houston-location-amid.html?ana=e_du_wknd&s=article_du&ed=2015-06-13&u=Ygd98RImsWkey8Xi50dMeA09ed043a&t=1434558390

MARKET WATCH HOUSTON RETAIL MARKET jUNE 2015

HOUSTON RETAIL MARKET WATCHjUNE 2015

45

45

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610

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290

59

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11

11

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22

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See Inner Loop

Map

Inner Loop




1

2

3SOU

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AST



Baytown / Chambers

1

2

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EA

ST

Pearland / Manvel

Near South

1

2SOU

TH

Near North

FM 1960 & I-45


Spring Creek

Far North


1

2

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Near Northeast

Atascocita

Kingwood

Liberty County

1

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Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


nORtH


sOUtHWest


nORtHWest


nORtHeAst


sOUtH


eAst


sOUtHeAst



HOUSTON RETAIL MARKET WATCHjUNE 2015

SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM







METHodoLogy


ConTACT







ABOUt tR AnsWesteRn







HOUSTON RETAILMARcH 2015


Sharpstown/Southwest Central :: Sellers Bros33,000 SF renewal at 5900 Renwick Dr.

Near North :: Conn Appliances31,000 SF renewal at Northline Commons

Katy/Cinco Ranch :: Party City22,000 SF at Green Tree Shopping Center

Recent RetAIL sALes

Cypress/Bridgelands :: Copperfield Village165,293 SFSale Price: $39.8 approximate Buyer: KimcoSeller: Greenstreet Partners

RetAIL In tHe neWs

All the right pieces put in place, but downtown retail not quite there yetlink to storyHouston Business Journal, March 20, 2015

New plan for Montrose retail center aims to fit in with the neighborhoodlink to storyHouston Business Journal, March 19, 2015

Whole Foods takes grocery wars to The Woodlands with wine bar, concierge and taco stationlink to storyCulture Map, March 19, 2015



4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14


$16.90

$17.00

$17.10

$17.20

$17.30

$17.40

$17.50

$17.60

$17.70

$17.80

$17.90

$18.00

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%


DIRECT VACANT (SF)

DIRECT VACANCY RATE



2014 NET ABSORPTION




55,510,523 2,988,051 7.2% 7.4% 129,019 817,616



55,981,679 3,072,405 6.5% 6.5% 657,000 180,596




42,022,604 2,715,989 7.5% 7.6% 86,075 463,291




QuARTER To dATE

LAST QuARTER (4Q14)

TRAILIng 12 MonTHS

LAST QuARTER (4Q14)

TRAILIng 12 MonTHS

Volume ($ Mil) $569.7 $276.6 $1,293.4 $24,636.6 $82,948.8

No. of Properties

37 33 149 1,911 7,901

Total SF 3,345,269 1,627,091 8,933,687 130,144,628 436,616,134

Average Price/SF N/A $238 $184 $200 $203

Average Cap Rate (Yield) 6.0% 6.7% 7.4% 6.7% 6.8%


MARkET WATCH

http://www.bizjournals.com/houston/print-edition/2015/03/20/all-the-right-pieces-put-in-place-but-downtown.html1

http://www.bizjournals.com/houston/blog/breaking-ground/2015/03/new-plan-for-montrose-retail-center-aims-to-fit-in.html?ana=e_du_pub&s=article_du&ed=2015-03-19&u=Ygd98RImsWkey8Xi50dMeA09ed043a&t=1426796611

http://houston.culturemap.com/news/restaurants-bars/03-18-15-whole-foods-takes-grocery-wars-to-the-woodlands-with-wine-bar-concierge-and-taco-station/?utm_source=dailydigest&utm_medium=email&utm_campaign=cmpgn-2015-3-19

MARKET WATCH HOUSTON RETAIL MARKET MARcH 2015

HOUSTON RETAIL MARKET WATCHMARcH 2015

45

45

45

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290

59

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Map

Inner Loop




1

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Baytown / Chambers

1

2

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ST

Pearland / Manvel

Near South

1

2SOU

TH

Near North

FM 1960 & I-45


Spring Creek

Far North


1

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Near Northeast

Atascocita

Kingwood

Liberty County

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Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


nORtH


sOUtHWest


nORtHWest


nORtHeAst


sOUtH


eAst


sOUtHeAst



HOUSTON RETAIL MARKET WATCHMARcH 2015

SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM







METHodoLogy


ConTACT







ABOUt tR AnsWesteRn



Cindy [email protected]



HOUSTON RETAILFEbRUARy 2015


Fairfield :: DaVita Dialysis10,855 SF at Fairfield Plaza

Copperfield :: Mucho Mexico8,950 SF at 5402 Hwy 6 North

Galleria/Uptown :: Parvizian Rugs7,606 SF at Courtyard at Post Oak

Recent RetAIL sALes

Far Katy North :: Copperwood Village350,444 SFSale Price: $46.2 million allocated (39 property portfolio)Buyer: KimcoSeller: Blackstone

RetAIL In tHe neWs

Gourmet sandwich shop expands into hot grocery centerlink to storyCultureMap, February 17, 2015

Lucchese celebrates Houston grand opening to much fanfarelink to storyHouston Business Journal, February 13, 2015

Home Depot hiring 1,600 in Houston; Lowe’s adding 525link to storyHouston Chronicle, February 11, 2015



4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14


$16.90

$17.00

$17.10

$17.20

$17.30

$17.40

$17.50

$17.60

$17.70

$17.80

$17.90

$18.00

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%


DIRECT VACANT (SF)

DIRECT VACANCY RATE



2014 NET ABSORPTION




55,510,523 2,988,051 7.2% 7.4% 129,019 817,616



55,981,679 3,072,405 6.5% 6.5% 657,000 180,596




42,022,604 2,715,989 7.5% 7.6% 86,075 463,291




QuARTER To dATE

LAST QuARTER (4Q14)

TRAILIng 12 MonTHS

LAST QuARTER (4Q14)

TRAILIng 12 MonTHS

Volume ($ Mil) $75.6 $260.3 $1,277.1 $24,324.6 $82,582.3

No. of Properties

8 31 147 1,859 7,801

Total SF 663,874 1,516,253 8,822,849 131,824,496 437,222,095

Average Price/SF N/A $233 $183 $193 $200

Average Cap Rate (Yield) N/A 7.0% 7.4% 6.7% 6.8%


MARkET WATCH

http://houston.culturemap.com/news/restaurants-bars/02-17-15-gourmet-sandwich-shop-expands-into-houstons-hot-new-grocery-store-and-restaurant-epicenter/

http://www.bizjournals.com/houston/news/2015/02/13/luccese-celebrates-houston-grand-opening-to-much.html

http://blog.chron.com/primeproperty/2015/02/home-depot-hiring-1600-in-houston-lowes-adding-525/

MARKET WATCH HOUSTON RETAIL MARKET FEBRUARY 2015

HOUSTON RETAIL MARKET WATCHFEbRUARy 2015

45

45

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610

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290

59

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See Inner Loop

Map

Inner Loop




1

2

3SOU

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AST



Baytown / Chambers

1

2

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ST

Pearland / Manvel

Near South

1

2SOU

TH

Near North

FM 1960 & I-45


Spring Creek

Far North


1

2

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RTH

Near Northeast

Atascocita

Kingwood

Liberty County

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Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


nORtH


sOUtHWest


nORtHWest


nORtHeAst


sOUtH


eAst


sOUtHeAst



HOUSTON RETAIL MARKET WATCHFEbRUARy 2015

SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM







METHodoLogy


ConTACT







ABOUt tR AnsWesteRn






HOUSTON RETAILdEcEmbER 2014


Pasadena/Galena Park :: Bravo Ranch Market31,000 SF at Woodforest Shopping Center

Tomball/Spring Cypress :: Sun & Ski Sports12,000 SF at Cypresswood Crossing Shopping Center

Near Northeast :: The Egg & I 3,600 SF at Izzy Plaza/Fall Creek Retail Center

Recent RetAIL sALes

Fairfield :: Willowbrook Court 137,650 SFSale Price: undisclosed Buyer: Mikeone Houston HoldingsSeller: Pacific Star Capital

RetAIL In tHe neWsYear in Review: Explosion of retail activity in Galleria during 2014link to storyHouston Business Journal, December 17, 2014

Grocery-anchored shopping centers dominate new retail constructionlink to storyHouston Business Journal, December 16, 2014

Inside the new Lucchese store: Boots, bourbon and a fashionable lifestyle experiencelink to storyCultureMap, December 14, 2014



3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 $16.90

$17.00

$17.10

$17.20

$17.30

$17.40

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%



DIRECT VACANT (SF)

DIRECT VACANCY RATE







54,935,632 2,869,311 10.2% 10.4% 94,522 199,884

Northeast (Near Northeast, Atascosita, Kingwood & Liberty County) 11,860,243 786,126 9.6% 9.6% 121,895


56,064,896 3,133,354 8.6% 8.6% 657,000 104,158




42,220,652 2,806,600 9.6% 9.8% 182,900 165,741




QuARTER To dATE

LAST QuARTER (3Q14)

TRAILIng 12 MonTHS

LAST QuARTER (3Q14)

TRAILIng 12 MonTHS

Volume ($ Mil) $105.0 $368.4 $1,452.1 $19,849.2 $76,677.0

No. of Properties

12 40 159 1,794 7,611

Total SF 794,833 2,411,649 10,581,749 100,486,217 417,063,633

Average Price/SF

$125 $200 $183 $212 $199


7.7% 7.6% 7.5% 6.8% 6.9%


MARkET WATCH

http://www.bizjournals.com/houston/news/2014/12/17/year-in-review-explosion-of-retail-activity-in.html?ana=e_du_pub&s=article_du&ed=2014-12-17&u=Ygd98RImsWkey8Xi50dMeA09ed043a&t=1418912239

http://www.bizjournals.com/houston/news/2014/12/16/grocery-anchored-shopping-centers-dominate-new.html?iana=ind_cre

http://houston.culturemap.com/news/fashion/12-14-14-inside-the-new-lucchese-store-boots-bourbon-and-a-lifestyle-experience/?utm_source=dailydigest&utm_medium=email&utm_campaign=cmpgn-2014-12-15

MARKET WATCH HOUSTON RETAIL MARKET dEcEMbER 2014

HOUSTON RETAIL MARKET WATCHdEcEmbER 2014

45

45

45

10

10

610

10

290

59

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288

99

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See Inner Loop

Map

Inner Loop




1

2

3SOU

THE

AST



Baytown / Chambers

1

2

3

EA

ST

Pearland / Manvel

Near South

1

2SOU

TH

Near North

FM 1960 & I-45


Spring Creek

Far North


1

2

3

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5

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RTH

Near Northeast

Atascocita

Kingwood

Liberty County

1

2

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Galleria/Uptown


Heights

East End

Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

Copperfield

Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


nORtH


sOUtHWest


nORtHWest


nORtHeAst


sOUtH


eAst


sOUtHeAst



HOUSTON RETAIL MARKET WATCHdEcEmbER 2014

SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM





METHodoLogy


ConTACT






ABOUt tR AnsWesteRn







HOUSTON RETAILSEpTEmbER 2014


The Woodlands/Montgomery :: Pier 1 Imports11,000 SF at Hughes Landing

Inner Loop/River Oaks :: The Dunlavy3,915 SF at Buffalo Bayou Park

Old Pearland/Alvin :: MOD Pizza2,744 SF at Center at Pearland

Recent RetAIL sALes

Tomball/Spring Cypress :: Spring Cypress Village101,371 SFSale Price: $21.4 millionBuyer: Phillips Edison ARC REIT II Seller: Sun Life Assurance Company

RetAIL In tHe neWs

New steakhouse and butcher shop set for revitalized Washington Avelink to storyCulture Map, September 15, 2014

Southern comfort restaurant to open in the Heightslink to storyHouston Business Journal, September 12, 2014

New restaurant planned in Upper Kirbylink to storyHouston Business Journal, September 10, 2014



2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 $13.75

$14.00

$14.25

$14.50

$14.75

$15.00

5.5%

6.0%

6.5%

7.0%

7.5%

8.0%



DIRECT VACANT (SF)

DIRECT VACANCY RATE







55,117,270 3,042,663 5.5% 5.8% 108,605 221,814

Northeast (Near Northeast, Atascosita, Kingwood & Liberty County) 11,785,968 914,111 7.8% 7.8% 10,500 14,695


55,949,429 3,077,400 5.5% 5.5% 663,660 116,759




42,299,189 2,946,823 7.0% 7.2% 215,012 146,406




QuARTER To dATE

LAST QuARTER (2Q14)

TRAILIng 12 MonTHS

LAST QuARTER (2Q14)

TRAILIng 12 MonTHS

Volume ($ Mil) $144.4 $285.7 $1,670.6 $14,901.1 $76,109.2

No. of Properties

16 31 158 1,416 7,383

Total SF 911,994 1,666,618 11,443,371 77,187,637 420,772,850

Average Price/SF

$157 $176 $176 $214 $192


N/A 7.3% 7.4% 6.9% 6.9%


MARkET WATCH

http://houston.culturemap.com/news/restaurants-bars/09-15-14-new-steakhouse-and-butcher-shop-set-for-revitalized-washington-ave-ready-for-rooftop-dining/

http://www.bizjournals.com/houston/morning_call/2014/09/southern-comfort-restaurant-to-open-in-the-heights.html

http://www.bizjournals.com/houston/news/2014/09/10/new-restaurant-planned-in-upper-kirby.html

MARKET WATCH HOUSTON RETAIL MARKET SEpTEMbER 2014


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See Inner Loop

Map

Inner Loop




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Baytown / Chambers

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Pearland / Manvel

Near South

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Near North

FM 1960 & I-45


Spring Creek

Far North


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Near Northeast

Atascocita

Kingwood

Liberty County

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Heights

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Northwest Oaks

Spring Branch

Willowbrook

Jersey Village

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Fairfield

Cypress/Bridgelands

Far Katy North

Far Northwest


Memorial

Westchase

Energy Corridor

Katy - Cinco Ranch


West Oaks


Richmond Rosenberg


InneR LOOP


West


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sOUtHWest


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SEATTLE

WALNUT CREEK

LOS ANGELES

SALT LAKECITY

DENVER

MINNEAPOLIS

MILWAUKEE

ST. LOUIS

CHICAGO


NEW JERSEY



DALLASFORTWORTH

HOUSTONAUSTIN

SAN ANTONIO

OKLAHOMACITY

NEW ORLEANS

ATLANTA


MIAMI-DADE

SANFRANCISCO


SAN DIEGO

BOSTON

SILICONVALLEY


HOUstOn RetAIL teAM





METHodoLogy


ConTACT






ABOUt tR AnsWesteRn







HOUSTON RETAILJULY 2014


Far Katy North :: Fiesta Mart60,000 SF at FM 529 and N Fry Road

Sharpstown/Southwest Central :: Fitness Connection55,553 SF in Fondren Road Plaza

Pearland/Manvel :: Salata2,450 SF in Shadow Creek Ranch Town Center

Recent RetAIL sALes

Energy Corridor :: Kirkwood Marketplace80,483 SFSale Price: undisclosedBuyer: Phillips Edison ARC REIT Seller: Koelbel and Company

RetAIL In tHe neWs

Pizza wars fire up as new chain enters Houston marketlink to storyHouston Business Journal, June 25, 2014

What’s in store for retail portion of Springwoods Village mixed-use developmentlink to storyHouston Business Journal, June 24, 2014



$13.00

$13.50

$14.00

$14.50

$15.00

6.0%

6.5%

7.0%

7.5%

8.0%

Overall Vacancy Rates

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14

Asking Rental Rates (NNN)


DIRECT VACANT (SF)

DIRECT VACANCY RATE




East (Pasadena/Galena Park, Channelview/Beaumont & Baytown/Chambers) 11,940,267 1,270,746 10.6% 10.8% 226,521 1,123



54,829,375 3,271,521 6.0% 6.4% 98,616 219,090

Northeast (Near Northeast, Atascosita, Kingwood & Liberty County) 11,758,518 1,018,210 8.7% 8.7% 15,147 9,634


55,989,221 3,158,997 5.6% 5.7% 168,729 159,342




50,897,609 3,673,243 7.2% 7.3% 295,037 (49,885)




QuARTER To dATE

LAST QuARTER (1Q14)

TRAILIng 12 MonTHS

LAST QuARTER (1Q14)

TRAILIng 12 MonTHS

Volume ($ Mil) $216.5 $337.3 $1,644.7 $22,443.8 $75,567.8

No. of Properties

19 42 151 2,488 7,244

Total SF 51,183,821 3,139,267 12,008,504 116,175,533 423,320,530

Average Price/SF

N/A $168 $170 $206 $183


N/A 7.7% 7.5% 6.8% 7.0%


MARkET WATCH

http://www.bizjournals.com/houston/blog/breaking-ground/2014/06/pizza-wars-fire-up-as-new-chain-enters-houston.html?ana=e_hstn_bn_exclusive&u=j/AfiCUbh/LpJlqDle2Y3A018e5d3f&t=1403792609

http://www.bizjournals.com/houston/blog/breaking-ground/2014/06/what-s-in-store-for-retail-portion-of-springwoods.html

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