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Harris County | Growth & Opportunity in Tomball

Harris County, home to Houston and its expansive metropolitan area, is a dynamic commercial real estate hub in Texas. Within this vast county, Tomball has emerged as a key submarket, blending suburban charm with increasing commercial and industrial activity. This report explores Harris County’s commercial real estate landscape, with a particular focus on Tomball’s economic growth, historical milestones, current trends, and future opportunities.

Tomabll’s Growing Influence 

The original settlers in the area now called Tomball began arriving from Europe in the mid1800s filled with dreams, hope for a better life, and a desire for freedom in a new home. These pioneers were pleased to find the thick, lush forests around Spring Creek to be much like the Black Forest of Germany and prime property for a soon-to-come lumber industry. They also found the rich soil throughout the area perfect for farming and livestock.

Just after the turn of the 20th Century, this simple railroad stop and surrounding community was named “Peck,” but soon, that all would change. In ceremonies held on December 2, 1907, at the now historic downtown depot, Peck was renamed “Tomball” in honor of Thomas Ball, the man credited for routing the railroad and its operations through the small town.

Thomas Ball was a lawyer for the Trinity & Brazos Valley Railroad, former congressman, practicing lawyer in Houston, threetime mayor of Huntsville, Texas, and is known as the “Father of the Port of Houston.” By turning the sleepy town into a vibrant rail center, Ball virtually ensured economic growth for years to come.

As the City continued to grow over the next 25 years, residents had little idea of the coming economic boom. On May 27, 1933, the Humble Oil Company struck oil southwest of town, earning Tomball the nationally recognized nickname of “Oiltown USA.” Humble Oil Company, now known as Exxon, and more than 20 other energy companies worked the fields around the City for many years, producing more than 100 million barrels of oil and 316 billion cubic feet of natural gas.

Historical Milestones and Growth Drivers

Tomball’s transformation into a growing commercial and residential hub can be traced to several key developments and infrastructure investments:

  • Grand Parkway Expansion (2016-Present): The construction and expansion of the Grand Parkway (SH 99) have significantly improved accessibility, attracting businesses and residents looking for seamless connectivity to Houston and surrounding areas.
  • Tomball Business & Technology Park (2014-Present): This ±100-acre master-planned and deed-restricted business park has been a catalyst for economic growth, drawing logistics, manufacturing, and technology firms to the area. The park features light industrial zoning, low property taxes, and economic incentives such as tax abatements. With easy access to SH 249, FM 2920, and the Grand Parkway, the park offers competitive land prices and proximity to a skilled labor force. It has been recognized by Business Facilities as one of the top 10 industrial parks in the country. Additional features include off-site detention.
  • Lone Star College-Tomball (Opened 1988, Expanded in 2018): This institution provides workforce training and higher education, supporting the talent needs of local businesses.
  • Main Street Revitalization (Ongoing): The City of Tomball has actively invested in revitalizing its historic downtown, attracting retailers, restaurants, and small businesses while preserving its charm.

Harris County by the Numbers

Tomball’s commercial real estate market continues to expand, with strong activity in industrial, retail, and multifamily development. The following statistics provide a snapshot of Harris County’s commercial real estate landscape:

  • Multifamily Expansion 46%: Multifamily properties dominate the landscape, with 681 million square feet in existing inventory. There are 11.6 million square feet under construction and 20.3 million square feet completed in 2024, reflecting the demand for housing driven by population growth.
  • Office Market 6%: Harris County has an existing inventory of 268 million square feet of office space, with 1.45 million square feet currently under construction and 796,029 square feet completed in 2024. In addition there are a few very large proposed office projects like the Watermark District and 11 Riverway that are scheduled to break ground in 2025.
  • Industrial and Flex Space 42%: With 611 million square feet of industrial and flex space, Harris County remains a key logistics and manufacturing hub. The county has over 10.6 million square feet under construction, with 13 million square feet completed in 2024.
  • Retail Growth 5%:  Harris County has an existing retail inventory of 283 million square feet, with 1.36 million square feet currently under construction and 2 million square feet completed in 2024.

Key Commercial Real Estate Segments

  • Office Market Dynamics: Tomball’s office market is primarily driven by small to mid-sized businesses, medical offices, and professional services. With Houston’s major office hubs nearby, Tomball’s office space serves as a secondary market catering to local demand.
  • Industrial and Flex Properties: Tomball has solidified its role as a growing industrial and logistics hub. The Tomball Business & Technology Park, along with industrial developments along SH 249 and Grand Parkway, provides crucial space for distribution, warehousing, and manufacturing firms.
  • Retail Market Growth: Retail development in Tomball is centered around major thoroughfares like FM 2920 and SH 249. Recent projects focus on mixed-use developments that blend retail, dining, and entertainment, appealing to the city’s expanding population.
  • Multifamily and Residential Trends: Master-planned communities like Woodtrace and Amira are fueling demand for multifamily developments. As more residents move to Tomball for its quality of life and affordability, rental housing has seen steady growth.

Emerging Areas and Future Opportunities:

  • Grand Parkway Corridor: The continued expansion of this major highway is opening new areas for development, particularly in industrial and residential sectors.
  • Downtown Tomball Revitalization: Investments in walkability, historic preservation, and local businesses are making downtown a vibrant commercial center
  • Healthcare Expansion: With Houston’s renowned medical industry, Tomball’s healthcare sector is poised for growth, with hospitals and medical office developments expanding.

Looking Ahead

Harris County is poised for significant population growth in the coming decades. Projections indicate that the county’s population will increase from approximately 4.9 million in 2025 to about 6.4 million by 2045.

This substantial growth underscores the importance of strategic planning in areas like Tomball, which is emerging as a critical growth hub within the county. The city’s strategic infrastructure, skilled workforce, and business-friendly environment make it an attractive destination for investment. As Tomball continues to draw businesses and residents, its commercial real estate market will be instrumental in shaping the region’s economic future.

Harris County is poised for significant growth in its office real estate sector, with several notable projects on the horizon. These developments promise to enhance the county’s commercial landscape, offering modern workspaces and mixed-use environments.

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Steve Triolet
Senior Vice President of Research and Market Forecasting
[email protected]
tel 214 223 4008