Office space vacancies in The Woodlands area continue upward trend in first quarter of 2021

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Office vacancies continued to rise in The Woodlands area in February, reaching 15.8% as of March 2 compared to 10.1% the previous year. Rental rates continued to hover just below $25 per square foot. However, industrial vacancies decreased from 10.5% last year to 8.1% as of early March, and rental rates in that sector increased since last fall.

There is slightly more office and retail space in The Woodlands area in the first quarter of 2021 than there was at the same time in 2020.

Commercial space was under development in all three sectors as of early March.

By Vanessa Holt
A resident of the Houston area since 2011, Vanessa began working in community journalism in her home state of New Jersey in 1996. She joined Community Impact Newspaper in 2016 as a reporter for the Spring/Klein edition and became editor of that paper in March 2017 and editor of The Woodlands edition in January 2019.