The Woodlands is a 28,000-acre master-planned community almost 30 miles north of Houston Located along I-45, it is mostly located in Montgomery County. However, some parts extend into Harris County. The submarket is desirable for both life and work. Consequently, office space in this area has become increasingly attractive. As a result, several major corporations now have operations in the submarket.
Life in The Woodlands
The Woodlands is a fast-growing community. The 2000 U.S. census recorded 55,649 residents. By the 2010 census, the population had almost doubled to 93,847. Currently, it has approximately 115,000 residents.
The Woodlands community is organized into villages and neighborhoods. The first village, Grogan’s Mill, opened in 1974. It is located near The Woodlands’ Town Center. Other villages include:
- Panther Creek — the second neighborhood
- Indian Springs — the smallest village
- Creekside Park — the newest village development; when completed, it will have over 5,500 single-family homes and over 730 multi-family residences
Furthermore, over the past two decades, the area has experienced much commercial growth. Increased development has produced several shopping centers and commercial areas. This includes Market Street, a pedestrian shopping district.
At the same time, the area has stayed true to its name. Many of the forested areas are still intact. In fact, the community has preserved over 7,700 acres of green and wooded spaces. On top of that, there are 130 neighborhood parks and 205 miles of hiking and biking trails. Residents can also enjoy the 200-acre Lake Woodlands.
Business Within The Woodlands
Most of this submarket’s commercial office development lies west of I-15, adjacent to The Woodlands. Altogether, there is over 7.2 million SF of office space. 5.2 million SF is Class A office space. In contrast, about 2 million SF is Class B.
Overall in the entire submarket, there are over 21 million SF of commercial real estate. This includes offices but also research facilities, institutional facilities, and industrial spaces. At the moment, over 63,000 employees work in this submarket.
Many of the commercial buildings in The Woodlands are low-rise properties. However, Anadarko Petroleum Corporation is headquartered in two skyscrapers. These are the Allison Tower and the Hackett Tower. With over 3,300 employees, Anadarko is the submarket’s second largest employer.
In addition to Anadarko, several other corporations have operations in The Woodlands. Below is a list of some other major employers along with the number of employees:
- ExxonMobil — 1,800 employees
- Huntsman Corporation — 1,018 employees
- Woodforest National Bank — 901 employees
- McKesson Corporation — 833 employees
- Chevron Phillips Chemical — 781 employees
- Baker Hughes — 550 employees
- Halliburton — 528 employees
- Maersk Line — 220 employees
Office Space for Rent in The Woodlands
This commercial office submarket comprises The Woodlands and the surrounding areas. It is bisected by I-45, dividing it into east and west sections. Furthermore, office space for rent is spread throughout several areas.
There are about 615 commercial office buildings in the submarket. Vacancy is typically in the single digits. Right now it hovers around 9%. In addition, rents are typically cheaper than other Houston submarkets. Currently, monthly rents are around $18.00 per SF. However, due to its increasing popularity, commercial office rents in The Woodlands may increase in the next few years.
The Woodlands Office Space for Lease
Throughout the Woodlands, rentable office space is in demand. Its location along with the area’s amenities make it an ideal location for your next commercial office lease. Let CXRE’s professional team Woodlands experts can help you find your next office space, Contact Us today to learn more.
Find Office Space for Lease in The Woodlands
The Woodlands is a ‘Live, Work, Play’ community with great amenities, plenty of green space, and high-quality commercial properties. To find office space for lease in this area, contact CXRE today.
CXRE agents know The Woodlands and other Houston submarkets. Our leasing experts can provide a wide range of commercial office leasing and administration services. We will help you find a property to rent. Or we will help lease your current property.
In addition to leasing services, we also offer facility financial management, energy management, construction management, infrastructure management, and other specialized services. Our Houston brokers also have extensive experience with land brokerage and warehouses.
Get Experienced Office Brokers in The Woodlands
When you lease office space in The Woodlands with CXRE, you have an experienced broker on your side. Likewise, we always take a personalized approach to your transactions. Regardless of which side of the office leasing transaction you are on, we work for you.
Let the CXRE team of Texas-licensed commercial agents (TREC Corporate Broker, CXRE LLC, License #9004453) handle all your commercial property needs. Contact us today to learn more.