The Houston metro area’s retail market experienced vacancies in 2024 due to failed chains like Conn’s and Big Lots. 

However, strong demand, limited deliveries, and some vacant locations backfilled shortly after going dark enabled the market to report an uptick in overall occupancy to 95.5 percent as of year-end 2024. 

The robust leasing for the market’s vacant spaces also countered the new vacancies created by the chain retail closures. 

The findings are based on Weitzman’s review of Houston’s retail inventory, which is approximately 166.3 million square feet in projects with 25,000 square feet or more. 

While on the conservative side, the 2024 construction is the highest total for new deliveries since 2022. Deliveries totaled approximately 1,305,600 square feet in new and expanded retail projects. 

The deliveries also reached the 1-million-square-foot mark for the first time since 2022, when new space totaled 1.2 million square feet.