9510 N Sam Houston Pky E
Humble, TX 77396
Walgreens · Retail Property For Sale

Humble, Texas has a 5-mile population of ±133,100 people and is located in the Houston MSA. Houston, Texas has had steady absorption during the recovery, combined with record-low completions,caused vacancies to fall well below their historical average. In fact, over the last several years, supply growth has not kept up with population growth—a phenomenon that hasn't happened in nearly two decades. This helped boost productivity in existing retail centers and paved the way for solid rent gains of about 3.5% annually in 2013–16, although the rate regressed back to the mean in 2017. While other property types—office and apartment—were hit hard by declining oil prices,consumers benefited from lower gas prices and more discretionary income. As for annual tax allocation, the City of Houston’s tax receipts totaled more than $600 million in every year from 2013–17, and it eclipsed $650 million in 2015. Houston’s retail market was one of the strongest this cycle, thanks to the more than one million residents who moved to the metro since 2010. An additional 94,000 people made their way to Houston in 2017, and the metro continues to grow. Demand lagged behind new construction in 2017 for the first time since 2012, mainly due to above-average deliveries. The retail sector in Houston has weathered both the local economic slowdown and Hurricane Harvey pretty well as a whole. The former actually provided more spending power as a result of lower gas prices. As for the bigger picture, many of the largest lease signings in 2016 involved large box retailers and grocers.