Keener: The retail market has shifted from being a tenant-driven market with an excess of supply to a supply-constrained, landlord-driven market. Retailers that find themselves in the “middle” of the discount and luxury categories are being squeezed as consumers move more to either end of the pricing spectrum.

GlobeSt.com: Is there are particular project that you are watching with a lot of interest?

Keener: We are closely watching the River Oaks District as many high-end retailers begin to move into the area.

GlobeSt.com: A number of professionals in the industry have mentioned retails switch to these urban lifestyle centers – do you see this as being a major part of the retail market?

Keener: In total square footage, not really. But in overall impact and appeal, absolutely. Lifestyle centers are primarily mixed-use projects with significant residential, office and/or hospitality components that have a retail element versus a stand-alone retail shop.

GlobeSt.com: Have you seen any retailers enter Houston for the first time in recent months?

Keener: Lots of new retailers are looking, particularly numerous fast casual food and fitness or other personal services concepts.

GlobeSt.com: Where do you see the market headed?

Keener: The market is moving into a nice, manageable new development cycle, delivering approximately 2 million square feet per year to meet retailers' stifled demand for space in various product categories.