Cypress Edition | September 2024

BY DANICA LLOYD

5.1M sq. ft.

A closer look

Zooming out

Rental rates rose by over 30% for Cy-Fair industrial facilities in the last ve years, per CoStar Group, which English said shows the desirability in this sector. O cials with Prologis logistics real estate rm said they’re planning over 5 million square feet of space at the Prologis Legacy Point industrial business park o™ Hwy. 290 and Fry Road. It will cater to retailers, manufacturing, distribution and energy companies, said Hans Brindley, senior vice president of marketing for Prologis Houston. The project will bring at least 2,000-3,000 jobs to the community depending on tenants, Prologis o cials estimate. In the o ce sector, about 93% of buildings under construction or proposed in Cy-Fair are medical facilities, including the 120,000-square- foot Kelsey-Seybold Northwest Campus o™ Hwy. 290, CoStar Group data shows. Retail projects range from a 1,649-square-foot co™ee shop to a 324,093-square-foot car dealership.

In an Aug. 16 news release, Gov. Greg Abbott’s oce announced Texas job growth outpaced the nation in July, and 14.73 million Texans—a record- high number—are working , according to U.S. Bureau of Labor Statistics data. At the same time, over 500,000 job listings were open , according to the Texas Workforce Commission. As more companies move to Cy-Fair, the local workforce is expected to continue to grow. “Absolutely there are enough workers to ¢ll [local] jobs, but people have to want to work,” said Leslie Martone, president of the Cy-Fair Houston Chamber of Commerce. “I believe that companies that will have a desirable place to work will be the key factor in keeping employees, such as good bene¢ts, ¦exible work-life balance and a good working environment.”

Prologis Legacy Point, an industrial business park o Hwy. 290, will open over the next three years.

RENDERING COURTESY PROLOGIS

120,000 sq. ft.

Kelsey-Seybold Northwest Campus will open next spring o Hwy. 290.

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