X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-According to the 2001 Shopping Center Survey and Forecast survey produced by Dallas-based Weitzman Group, grocery store retail centers are leading retail construction this year. The report lists H-E-B, Albertsons and Kroger as the leading grocers anchoring the new Houston centers.

H-E-B is planning several Houston-area openings this year, including an 85,000-sf supermarket at Gulfgate Center; one at Fountain View and Westheimer; and an upscale Central Market at Westheimer and Weslayan. According to the Weitzman report, Albertsons also has eyes on the Houston market, planning to add five stores. Locations include Friendswood, FM 1960 and Gessner. Kroger will open at least four new stores this year, including one in Pearland.

The report concludes that with the strong demand for class-A retail space, the rental rates have “seen notable increases.” Class-A inline space leases from $17 per sf to $19 per sf, in comparison to the $16 per sf to $18 per sf range that had prevailed 1 1/2 years ago. Rent for second-generation space in good locations has spiked to $14 per sf to $15 per sf, with tertiary space in the $10 per sf to $12 per sf range, says the report.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.