• As COVID-19 cases surge in Texas, retail activity slowed down in Q2 2020 with over 41,459 sq. ft. of negative absorption, with much of it stemming from the South and Northeast submarkets.
  • The market-wide occupancy rate took a slight dip by 30 basis points (bps) from 94.6% in Q1 2020 to 94.3% in Q2 2020.
  • Despite a slowdown in activity, the construction pipeline remained robust with 10 projects delivering, adding over 192,000 of retail space to the market.
  • Over 900,000 sq. ft. of product is underway, with the bulk of new space stemming from the Northwest submarket.