In between The Woodlands and the recently announced The Woodlands Hills, Conroe is directly in the path of development. The race to build rooftops has propelled Conroe, making it the fastest-growing city in America according to population growth.

"Montgomery County is set to double in population in the next 15 years. All of that growth is headed North and West, putting Conroe directly in its crosshairs," said Marcus & Millichap Investment Sales Broker Nate Newman, a lifelong native of the area.

Retailers are also racing to keep up with the rooftops. Earlier this month, Johnson Development announced a new Kroger Market Place at 341 South Loop 336 W.

An Aldi and Chicken Express also recently opened up nearby.

The 125K SF Kroger will open on Jan. 26. In addition, a 42K SF HomeGoods, a 25K SF Ross and a 21K SF Michaels are expected to follow in the spring at the 700K SF regional shopping center. 

"Investors are realizing they can get higher yields in Montgomery County," Newman said. "You have all the fundamentals of growth. As population doubles, there will be much more density, pushing land prices way up. Rents will follow."