About 77% of the 2.17 million square feet of commercial real estate space under construction in Cy-Fair is industrial, according to data provided by Caldwell Cos.

Occupancy rates in Cy-Fair’s office and retail sectors have remained relatively steady year over year, while the industrial vacancy rate is less than half of what it was in the second quarter of 2021.


Rental rates for office and retail real estate space in the Cy-Fair area have steadily declined since the start of 2021 as demand for industrial space continues to drive construction activity and rising rental rates in that sector.