As industrial vacancies continued to decrease in The Woodlands at the end of April, rental rates per square foot dropped from $12.67 to $11.79 per square foot as of April 27. No new industrial space is under construction in The Woodlands area. Office space was 17.6% vacant in late April, up from 16.1% a year ago, and five new buildings are under construction in the area. Office space was $24.69 per square foot as of April 27. Retail saw occupancy at 95.3% as of late April, and 113,771 square feet of new retail space was under construction.