HOUSTON-During the first half of this year, 478,093 square feet of retail was absorbed, according to mid-year data provided by CBRE. This represents a significant improvement compared to 2010 when mid-year absorption posted at negative 858,369 square feet.

During the second quarter alone, the market recorded 388,507 square feet of absorption, according to CBRE. The marketwide vacancy rate was relatively unchanged at 8.1% at mid-year. The lowest vacancy rates were found in the Near West submarket (2.6%), which includes prime retail locations such as the Galleria, Uptown Park, Memorial and City Centre.

“Houston, and Texas in general, has taken on quite a bit of population, and retailers are positioning themselves to take advantage of that growth,” says Steve Ash, a managing senior vice president with Transwestern, which recently formed a strategic partnership with Page Partners to create Transwestern Page Retail Management LLC. The new management company focuses on institutional-quality retail projects and expanding retail leasing opportunities in Houston.