ANNUAL DATA: Office, industrial, retail vacancy up year over year in Tomball, Magnolia

Office, industrial and retail vacancy was up year over year as of June 25, according to data provided by Caldwell Cos. for Tomball and Magnolia. (Courtesy Adobe Stock)
Office, industrial and retail vacancy was up year over year as of June 25, according to data provided by Caldwell Cos. for Tomball and Magnolia. (Courtesy Adobe Stock)

Office, industrial and retail vacancy was up year over year as of June 25, according to data provided by Caldwell Cos. for Tomball and Magnolia. (Courtesy Adobe Stock)

Office, industrial and retail vacancy was up year over year as of June 25, according to data provided by Caldwell Cos. for Tomball and Magnolia.



Additionally, less land was sold in the last 12 months than the previous year.



Locally, there was more office, industrial and retail space in June 2020 than in June of the previous year.



As of June 25, there were 307,095 square feet of industrial space under construction in Tomball and Magnolia.



Locally, 11 office buildings were under construction as of June 25.



As the rental rate per square foot for office space fell from that of the first quarter of 2020, the rental rate for retail and industrial properties saw a slight uptick.



Year over year, the median price per square foot for land in Tomball and Magnolia saw a slight increase in the prior 12 months.
By Anna Lotz

Editor, Tomball/Magnolia & Conroe/Montgomery

Anna joined Community Impact Newspaper as a reporter in May 2016 after graduating with a degree in journalism from Cedarville University in Cedarville, Ohio. In July 2017, she transitioned to editor for the Tomball/Magnolia edition. She began covering the communities of Conroe and Montgomery as well in 2020. Anna covers education, local government, transportation, business, real estate development and nonprofits in these communities. Prior to CI, Anna served as editor-in-chief of Cedars, interned with the National Journalism Center in Washington, D.C., and spent time writing for the Springfield News-Sun and Xenia Daily Gazette.