Office vacancies in The Woodlands area reached 16.7% as of April 5 compared to 13.2% in the second quarter of 2020. Rental rates for office space were just below $25 per square foot in early April. Industrial vacancies decreased from 11.1% last year to 8.6% as of early April, and retail vacancies grew from 4.9% to 5.7% when comparing early April to last spring.
There is slightly more office and retail space in The Woodlands area in the early April than there was at the same time in 2020.
Commercial space was under development in the retail and office sectors as of early April.