The Woodlands office market is sluggish but bests Houston’s record-low occupancy

As Houston leads the nation in office vacancy, The Woodlands is doing better than some might expect.

However, The Woodlands office market is still behind compared to last year, commercial real estate data from CoStar show.

As of Oct. 20, vacancy stood at 15% — up more than a percentage point from the last quarter of 2020 and up from 9.1% in the fourth quarter of 2019.

Rental rates dropped to $24.38 per square foot as of Oct. 20, down from $24.70 per square foot in Q4 2020, continuing a quarterly…