The Woodlands Becomes Newest Hotspot For Office Leasing

The Woodlands on the North side of Houston has been growing exponentially for a couple decades, as people opt to leave life in the city for the suburbs. The area has become a destination for families, and now it is becoming the new hotspot for businesses and corporations.

The steady growth of the area has now landed it as the go-to destination lately for office leasing. They currently have about a 90 percent leased mark, compared to about 75 percent in Houston. But to go along with that, they also have high occupancy rates. That means people are buying up the space and using it. Unlike the city, where many office buildings stand vacant.

Chairman of The Woodlands Township Board of Directors Brad Bailey says one of the biggest reasons is because The Woodlands is just a good place to be.

"I think it has a lot to do with low taxes here in Montgomery County, low crime...and also the live, work, play and pray model we have here in The Woodlands," he says.

The people coming in are a wide range of businesses, including healthcare, oil and gas, real estate, and technology. A lot of these are moving into what are called 'Class A' buildings too, leaving behind their dates, cramped offices. All of it being part of the draw.

To close the year, they have seen seven new tenant's close deals in the last three months. Many of them moving up north, fleeing Harris County. Bailey says the hike in taxes that the country tried doing after Hurricane Beryl plays another factor.

"That hits their bottom line right off the bat...it is just bad politics, bad fiduciary morals, and I think that is another reason people are coming to The Woodlands specifically," he says.

The most recent leases were signed by fiber internet company Tachus, chemical distribution company Aktopa, real estate developer WorkHub, and concierge healthcare clinic Sydenham. All of them secure space at Hughes Landing or in Technology Forest, where the growth is mostly happening.

But on the horizon in the new year, Bailey adds they plan to try and hook some big fish corporations, to get them to set up headquarters in the area.

"We are going to go to places like California, New York, Chicago...and really start telling the story about how we are a great business environment here in Texas," says Bailey.

The Woodlands has cemented itself as one of the hotspots in Texas. That will only continue to trend forward.