The Woodlands, a thriving commercial real estate market, has seen stable vacancy rates for both office and retail spaces over the past year. Despite high rates, there has been no negative impact on the region’s CRE sector. According to Caldwell Companies’ latest report, retail occupancy has only slightly decreased from 96.3% to 95.4%, while office vacancy rates have improved from 15.5% to 14.9%.
Retail development is also on the rise with a current construction of 406,000 square feet – an increase of about 30,000 square feet compared to last year’s numbers. Similarly in the office sector, construction activity is up by nearly100 ,000 square feet at555 ,000 total square feet this year.
Additionally,rates for both retail and office spaces have remained steady at around $24 persquare foot; with slight increases in rent for retail properties and decreasesfor offices.
Overall,the CRE trends in The Woodlands continue to show strength and stability,making it an attractive market for investors and businesses alike.
