The Nation in Retail Construction: Houston is No. 1

In Houston, Houston will lead the nation in retail space construction this year with more than 3.2 million SF of space completed, as stated by 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.