Cy-Fair’s industrial real estate sector continues to boom with all-time-high rental rates and exceedingly low vacancy rates, according to data from Caldwell Cos. Vacancy sat at 14.2% in the second quarter of 2021, while rental rates were $8.90 per square foot on average. One year later, vacancy is down to 6.3%, and rental rates are more than $10 per square foot on average. The local office and retail markets have seen little change year over year. Additionally, about 72% of commercial real estate space under construction in Cy-Fair is industrial.