DATA: Year-over-year vacancies up across Cy-Fair-area commercial real estate sectors

Construction wrapped up in June on the Telge 290 Logistics Center at Cypress North Houston and Telge roads in Cy-Fair, making it one of several industrial projects added to the market over the past year. (Courtesy Archway Properties)
Construction wrapped up in June on the Telge 290 Logistics Center at Cypress North Houston and Telge roads in Cy-Fair, making it one of several industrial projects added to the market over the past year. (Courtesy Archway Properties)

Construction wrapped up in June on the Telge 290 Logistics Center at Cypress North Houston and Telge roads in Cy-Fair, making it one of several industrial projects added to the market over the past year. (Courtesy Archway Properties)

Vacancy rates have risen throughout the office, industrial and retail sectors in the Cy-Fair area year over year as of June 30, according to data provided by Caldwell Cos. to Community Impact Newspaper.


The largest rise in vacancy was seen in the industrial sector, which fell from 88.3% occupied in June 2019 to 86.4% occupied as of June 30 this year.

The drop in industrial occupancy can be attributed in part due to construction wrapping up on nearly 3 million square feet of new space over the past year. By comparison, about 200,000 square feet of office space and 500,000 square feet of retail space were added to the Cy-Fair market this past year.


Retail rental rates per square foot rose over the past year, while office rental rates were flat. Industrial rental rates jumped year over year, which can be attributed in part to new, higher-priced projects being added to the market.


The number of land sales between July 2019 and June 2020 was down in Cy-Fair compared to the previous year.


A total of 12 retail buildings are currently under construction in Cy-Fair, as are six industrial projects and two office projects. However, in terms of overall square footage, the industrial projects have the largest footprint, totaling more than 1 million square feet.



By Shawn Arrajj
Shawn Arrajj serves as the editor of the Cy-Fair edition of Community Impact Newspaper where he covers the Cy-Fair and Jersey Village communities. He mainly writes about development, transportation and issues in Harris County.


MOST RECENT

Consuelo Mendez Middle School has consistently received poor ratings from the Texas Education Agency. (Community Impact Newspaper)
CI TEXAS ROUNDUP: State could take over AISD school board if poorly-rated campus does not improve; new furniture store to open in McKinney and more top news

Take a look at the top five trending stories across Community Impact Newspaper’s coverage areas in Texas as of Dec. 3.

Julia De Leon, a Harris County Precinct 3 resident and essential worker, spoke Nov. 30 at commissioners court in favor of establishing the Harris County Essential Workers Board. (Emily Lincke/Community Impact Newspaper)
Harris County creates board for essential workers during ongoing pandemic

Local essential workers will now be given a voice to improve working conditions during the ongoing coronavirus pandemic after the Harris County Essential Workers Board was established during the Harris County Commissioners Court session Nov. 30.

Burro & Bull is now open in Cypress. (Courtesy Burro & Bull)
Burro & Bull now open off Hwy. 290 in Cypress

Burro & Bull opened in November at 25618 Hwy. 290, Cypress.

Foster children without placements rise, CPS staffing falls across Texas

The number of children without placement in the Texas foster care system has skyrocketed over the last two years, increasing by more than 1,100% since October 2019, according to data provided by the Texas Department of Family and Protective Services.

Cy-Fair’s decennial redistricting maps draw criticism

New electoral maps are set for the next decade in Cy-Fair, which gained a new congressional district, a more convoluted map for state representation and significant changes to its county commissioner territories.

The school board will consider whether to call a special election to fill the vacancy or make an appointment. (Zara Flores/Community Impact Newspaper)
CI TEXAS ROUNDUP: Hays CISD to hold special meeting on resignation of board member; Montgomery approves plan for downtown and more top news

Take a look at the top five trending stories across Community Impact Newspaper’s coverage areas in Texas as of Dec. 2.

Site work is ongoing at the northeast corner of Cypress Rosehill Road and the Grand Parkway on the border of Tomball and Cypress to add infrastructure and stormwater detention areas for a future retail development. (Anna Lotz/Community Impact Newspaper)
Retail, multifamily development likely at northeast corner of Cypress Rosehill Road, Grand Parkway

Site work is ongoing at the northeast corner of Cypress Rosehill Road and the Grand Parkway on the border of Tomball and Cypress.

Zoo Lights is a light show within the Houston Zoo that happens every year. (Courtesy Houston Zoo Lights)
10 holiday light displays to see in the Greater Houston area

Check out these nine free and ticketed displays to see through December and January in the Houston area.

A new French pastry shop, Le Macaron, will open in December at the Vintage Park shopping center in Spring. (Courtesy Le Macaron)
Le Macaron coming soon to Vintage Park

A new French pastry shop, Le Macaron, will open in December at the Vintage Park shopping center in Spring.

Tomball City Council approved a development agreement with Lovett Industrial for 240 acres at Hwy. 249, Rocky Road Nov. 29. (Anna Lotz/Community Impact Newspaper)
CI TEXAS ROUNDUP: Tomball City Council approves development of 240 acres at Hwy. 249, Rocky Road; JLB Eatery coming soon to Katy and more top news

Take a look at the top five trending stories across Community Impact Newspaper’s coverage areas in Texas as of Dec. 1.