The Woodlands, TX – Office Space for Rent
The Woodlands was developed and opened in 1974. It’s a prominent employment area located 27 miles north of Downtown Houston, known for its forested residential communities, commercial centers, golf courses, and recreational amenities. Of the 28,000 acres that surround the area, nearly 28% remain open and undeveloped green space.
The community thrives with upscale hotels, restaurants, highly rated healthcare facilities, and lively entertainment. The Woodlands is one of Houston’s most desirable office markets that houses over 2,100 businesses and employs more than 66,000 people. It is also home to several Fortune 500 companies.
Encouraging growth and expansion, the neighborhood supports local businesses with tax incentives for qualifying companies. It is a thriving retail, office, healthcare, and entertainment location with over 35.6 million square feet of office, institutional, industrial, retail, and hospitality space.
If you’re interested in securing office space for lease in The Woodlands, TX, this is an ideal neighborhood to consider. Simply contact us for more information and assistance in searching for commercial real estate. Our services are always available and free for tenants.
The Woodlands Office Space – Lease Data & Trends
Since the beginning of the COVID-19 pandemic, local experts and leasing professionals have noticed The Woodlands area’s resiliency even as demand for commercial real estate has declined. Office vacancies in this area doubled from 9% in Q3 in 2018 to more than 15% in Q3 in 2020 but continue to outperform other comparable Class A markets.
Class A buildings typically have highly desirable locations and higher leasing rates. The area’s vacancy rate is reported to be below the greater suburban office vacancy rate of Greater Houston, which averaged around 22.5%.
Although overall office renting has slowed due to the pandemic, the area is well known for being a desirable commercial location for its diverse industries and open green space just outside of the major Houston area. Further, its housing market has remained attractive to families.
What Our Brokers Say About The Woodlands Office Space
The Woodlands business sectors are diverse and rated among the top 10 employers for health care, the energy sector, and education. The neighborhood houses over 80 major employers from different industries, according to The Woodlands Area Economic Development Partnership.
It is or has been home to a variety of prominent companies, including ExxonMobil, Chevron Phillips Chemical, Anadarko Petroleum, MD Anderson The Woodlands, and Repsol USA.
Healthcare is its largest business sector and houses over 10,000 jobs among four major hospitals. The second-largest business sector comprises its energy sector that supplies nearly 9,000 jobs to ExxonMobil, Baker Hughes, Halliburton, Repsol USA, and Occidental.
Top Commercial Buildings in The Woodlands
9595 Six Pines Drive: This Market Street location is an office building located just off I-45 that includes prime executive offices. It is connected by Lake Robbins Drive, Six Pines Drive, Grogan’s Mill Road, and Lake Woodlands Drive. This large retail center has several high-profile businesses such as Tommy Bahama, GAP, Eddie Bauer, and AVIA Hotel The Woodlands.
1585 Sawdust Road: This building is located at The Reserve at Sierra Pines with a total of 175,035 square feet of office space available in The Woodlands. The Reserve at Sierra Pines was developed in 2009. It offers both Class A and Class B office buildings and averages between $19.50 per square foot a year to $17.50 per square foot a year, respectively.
2445 Technology Forest Boulevard: This high-rise, Class A commercial building is close to The Woodlands Waterway and Mall and just off I-45. It is 12 floors high and houses over 300,000 square feet. It features onsite security, 61 reserved and unreserved parking spaces, and a gym.
Get to Know The Woodlands
A variety of businesses from different professional backgrounds are attracted to this 28,000-acre master-planned community in Montgomery County, just 30 miles north of Houston. The Woodlands is a desirable location for recreational areas, retail, residential homes, and employment.
Many business owners will enjoy access to Class A and Class B office space in this submarket’s commercial development. The entire submarket offers over 21 million square feet of commercial real estate. While the majority of the buildings are low-rise, including research and industrial facilities, there are several high-rise locations to choose from.
This area also offers a busy retail scene and several restaurant locations for visitors to enjoy combined with scenic urban walkability. Popular destinations in the area include Waterway Square, The Woodlands Town Center, Hughes Landing, and Creekside Park Village Center.
Why Rent Office Space in The Woodlands?
Office space in The Woodlands is in demand due to its proximity to amenities, parks, recreational facilities, and popular retail destinations. This area offers a comprehensive range of floor plans, office types, and built-to-suite options.
If you’re looking for cheap office space in The Woodlands, rates average around $18 per square foot. Shared office space in The Woodlands makes it possible to find a comfortable price for a lease. For those who require shorter accommodations, there are several options for temporary office space in The Woodlands as well.
When you become a part of this community, you’ll enjoy the mix of forested landscapes combined with high-profile locations. Office space in The Woodlands is an ideal location for your employees.
Nearby Submarkets to Set Up Office Space
If you’re considering office space in The Woodlands but would also like to explore the surrounding areas, there are other neighborhoods to consider in your commercial property search.
Greenspoint: Greenspoint neighborhood is located in Harris County around the intersection of I-45 and the Texas 8 Beltway, just a stone’s throw away from George Bush Intercontinental Airport. This area offers a diverse workforce, excellent IT infrastructure, and houses over 4,400 companies employing over 65,000 people.
The Houston Energy Corridor: The Houston Energy Corridor provides access to the METRO, major highways, airports, and recreational areas that include bike trails. More than 26,000 acres of parks surround the neighborhood. The Energy Corridor is near Grand Parkway and Beltway 8, conveniently located near top-rated restaurants and both the West Houston Airport and Houston Executive Airport.
Westchase: Westchase is a standalone sector of The Houston Energy Corridor that features vacancies equal to that of greater Houston. There are over nine million square feet of Class A space for rent, with four million square feet of Class B Space. The average rent in Westchase is lower than office space in the city and averages around $31 per square foot.
If you would like more information on The Woodlands, TX, or cheap office space for rent in the area, contact us today. We’re available to answer any questions you may have and help you find the right space for your business.