Office occupancy in The Woodlands area continues to be lower than it was a year ago. (Courtesy Adobe Stock)
Office vacancies in The Woodlands area remained higher than last year as of May 3, with a 16.6% vacancy rate compared to 13.7% in the second quarter of 2020. Industrial vacancies continued to decrease, reaching 8% in early May compared to decreased from 11.1% last year at the same time, and retail vacancies stayed at about the same rate as last spring, at 5.5%.
There is slightly more office, in dustrial retail space in The Woodlands area in the early May than there was at the same time in 2020.
Commercial space was under development in all three sectors as of early May, including 97,200 square feet of industrial space, compared to none in the previous month.