As of early February, industrial real estate continued to outperform other sectors in The Woodlands area, commanding a 95.6% occupancy rate with no additional industrial space under construction in the area at that time. Office vacancies recovered by 1% compared to the previous year, with 15.7% of The Woodlands area office space vacant as of early February. Retail space in The Woodlands area held steady at just under 95% occupancy from early 2021 to February 2022. The largest increase in commercial rental rates in The Woodlands area has been industrial space, which reached a low of $9.99 per square foot in mid-2020 and has risen to $12.46 per square foot as of early February.