Date: Tuesday, February 28, 2012, 11:06am CST

Houston is expected to add 91,000 jobs in 2012, which could help stimulate future commercial real estate development and lower vacancy rates, according to a new report from Marcus & Millichap　

The California-based real estate investment services firm predicts as local employers — such as S & B Engineers — continue hiring, there will be more consumer demand. This increase in consumer demand will in turn lead to the development of more commercial and retail properties, especially near employment hubs like the Energy Corridor.

In total, Marcus & Millichap expects 2.1 million square feet of retail space to come online this year in Houston, increasing the inventory by 1 percent. At the same time, vacancy rates are expected to decrease to 9.8 percent in 2012 and rent is expected to rise 1.6 percent to an average of $15.57 per square foot