Retail Property

Houston is the fourth largest city in America. He is best known for his association with the oil, but in recent years the city has diversified to become a leading academic center, financial, medical and retail. Today, the commercial real estate market in Houston is generally strong throughout the city - including downtown, the suburbs and surrounding area.

There are several reasons for the commercial real estate market strong in Houston. The city has experienced steady job growth and the expansion of its port facilities and substantial investment in major road projects. The commercial and residential construction has also been strong in recent years. And Houston has no zoning regulations, which generally makes it easier for developers to build in the right place.

The average occupancy rate of retail centers Houston hovers around 85% - shopping centers built since 1990 have tended to have a slightly higher rate than those built before that year. The new malls are generally better designed, offer better parking and are generally more attractive to potential tenants and buyers. Rental rates average property in the Houston retail market around $ 1.50 per square foot.

Planned communities such as Sugar Land in the Southwest and the forests in the north have managed to attract new residents both new projects and retail. And Houston has been an innovator in the renovation of older buildings to be used for retail and offices.

It's not only the suburbs are booming in Houston - the city has made major efforts to revitalize its downtown and attract locals and visitors alike. About 4,000 people live in the city - a figure that is expected to reach about 10,000 in 2010. Approximately 70,000 students are enrolled in various colleges and institutions of higher learning are located in and around downtown.

Revitalization of downtown began in 1995 in an attempt to retail, residential and commercial developments in the area a little run. Since then, about $ 4 billion has been invested in downtown real estate market retail. This includes public and private development - and the successful rehabilitation of more than 1,000 acres of land. Improvements such as parking and improved street lighting have also helped attract tenants and retailers.

Today, downtown Houston boasts about 2.5 million square feet of retail space, largely concentrated in the historic downtown area centered on Main Street and Texas Avenue . Recent changes notables that offers retail space include Reliant Energy Plaza Houston Center and Five.

Several major new developments are planned for downtown, including Discovery Green Park and Place - the first blast the city a deluxe apartment in the city increased by more than 40 years. But the most ambitious project of the moment to the center of Houston Pavilions, a 350,000 square foot development is scheduled to open in late 2008 at a cost of about $ 170 million.

One of the most respected developers of both local commercial and residential real estate in the Houston area is the Johnson Development Corporation. The company is responsible for more than forty acclaimed residential projects - ranging from golf communities to townhouses - and nearly a dozen retail developments.

Johnson Development was founded in 1975 and President, Larry Johnson has over 40 years experience in real estate. In addition to its successful projects in the Houston area, the company is also responsible for developments in several other states, including California, Georgia and Colorado.

Some of the biggest developments of Johnson for the development include shopping malls such as Forest West Center, Jones and Square South Loop Center. Currently, the largest retail company in H.