Plano, TX - Office Market Overview
The Plano real estate market includes the Arbor Hills - Prestonwood, Dallas North Estates, and Willow Bend - Gleneagles commercial real estate submarkets. While the population of Plano is nearly 300,000 people, it is also part of the Dallas - Fort Worth metroplex, which is home to over 4.7 million residents. The demand for Class A office space in Plano remains consistently strong due to the numerous corporate headquarters that are located here.
As of mid-2017, the Plano office market encompasses nearly 30 million square feet of existing office space in properties larger than 50,000 square feet. Business travel and the support services it requires play a key role in the economy of Plano and help drive the demand for commercial real estate in Plano, TX.
Plano, TX - Office Inventory Description
As part of the Dallas - Fort Worth metropolitan area, Plano contributes greatly to the area's $504 billion annual gross metropolitan product. Nearly 46% of office space in Plano is Class A or A+, while Class B office products accounts for 53% of inventory.
Some of the strongest demand for Class A office space in Plano comes from the Sherrill Park office submarket. Located southeast of where the President George Bush Turnpike and State Route 75 intersect, this area is home to portfolio office properties such as Woodcreek Plaza, Tower 2600, and Lookout Plaza I at 1301 East Lookout Drive.
Plano, TX Commercial Inventory Breakdown
Office Spaces
Total: 43,008,726 SF
By square footage range:
- 50k to 100k SF: 3,313,173 SF / 7.7% of total office
- 100k to 500k SF: 26,388,156 SF / 61.36% of total office
- 500k to 1M SF: 2,990,811 SF / 6.95% of total office
- > 1M SF: 10,316,586 SF / 23.99% of total office
By class:
- Class A+: 425,190 SF / 0.99% of total office
- Class A: 29,164,482 SF / 67.81% of total office
- Class B: 9,642,153 SF / 22.42% of total office
- Class C: 464,831 SF / 1.08% of total office
Top 10 Largest Office Buildings
in Plano
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Toyota Headquarters at Legacy West | , 75024 | 2,100,000 | 2017 |
| The Campus at Legacy West | , 75024 | 1,929,059 | 1991 |
| HP Headquarters | , 75024 | 1,578,500 | 1991 |
| Two, Three & Four Heritage Creekside | , 75075 | 1,566,200 | n/a |
| Capital One Plano Campus | , 75024 | 1,082,323 | 2007 |
| 2300 West Plano Pkwy | , 75075 | 1,060,504 | 1962 |
| JPMorgan Headquarters at Legacy West | , 75024 | 1,000,000 | 2018 |
| Bank of America Corporate Drive - Buildings A, B & C | , 75024 | 733,516 | 1999 |
| CityLine II | , 75082 | 729,580 | 2015 |
| Ericsson Headquarters | , 75024 | 518,210 | 2000 |
Most Recently-Built Office Buildings
in Plano
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| JPMorgan Headquarters at Legacy West | , 75024 | 1,000,000 | 2018 |
| Liberty Mutual Tower at Legacy West I | , 75024 | 504,753 | 2018 |
| Liberty Mutual Tower at Legacy West II | , 75024 | 504,752 | 2018 |
| Plano Medical Pavilion - 4825 Alliance Blvd | , 75093 | 47,992 | 2018 |
| Toyota Headquarters at Legacy West | , 75024 | 2,100,000 | 2017 |
| Legacy West - Buildings AB & G | , 75024 | 421,000 | 2017 |
| Granite Park Seven | , 75024 | 324,010 | 2017 |
| 3400 at CityLine | , 75080 | 310,000 | 2017 |
| One Legacy West | , 75024 | 307,824 | 2017 |
| Children's Medical Center Plano - Specialty Center 2 | , 75024 | 200,000 | 2017 |
Plano, TX - Green Office Space
Both tenants and office building investors increasingly realize the economic benefits of green office space. The 2017 National Green Building Adoption Index analyzed the top 30 major office markets in the U.S. and discovered that green, energy-efficient office buildings have increased their share of the market from under 5% in 2005 to about 38% today.
An excellent example of a Plano LEED-certified office building is the Pepsi Logistics Company Headquarters. Built in 1999, this 248,000-square-foot property is located in the Legacy commercial real estate submarket of Plano and was awarded a LEED Gold certification.
While Plano itself is too small to be considered a top 30 office market, it is part of the Dallas metro area, which ranks 17th in the country for amount of energy-efficient office buildings. Over 3% of the office buildings here are LEED-certified, more than 10% have an EPA Energy Star rating, and over 12% are otherwise labeled green.
Plano, TX's Top Office-Using Sectors
Plano is one of the most affluent business hubs in the metro area and is home to some of the most recognizable businesses and corporate headquarters in the United States. Given its relatively small size, the mixture of top office-using industry sectors in the Plano commercial real estate market is quite impressive.
- High Tech Corporate Headquarters – Alliance Data, CA Technologies, Dell Services, Ericsson, DXC Technology, and Alcatel-Lucent are some of the largest employers and creators of white-collar office employment in Plano.
- Food & Beverage Corporate Headquarters – Frito-Lay, Cookies By Design, Pizza Hut, and Yum! Restaurants International are all headquartered in Plano.
- Retail Corporate Headquarters – Demand for white-collar office space comes from retail head offices such as JCPenney, Rent-A-Center, Robot Entertainment, and Toyota Motor North America.
- Financial Services – Bank of America Home Loans, Capital One Financial Services, and Liberty Mutual Insurance all help drive demand for Class A office space in Plano, Texas.
Plano Demographics
Population
- Total Population281,566
- Male Population(49.1 %) 138,117
- Female Population(50.9 %) 143,449
- Median Age38.80
Income/Financial
- Average Household Income$116,992
- Median Household Income$88,578
- Median Income Under 25$44,735
- Median Income 25-44$86,462
- Median Income 45-64$111,183
- Median Income Over 65$57,229
- Acres of Sunshine Demographics
- Billingsley Demographics
- Breezeway Farms Demographics
- Bush Central Station Demographics
- Capital One Demographics
- Carrington Park Demographics
- Cloisters Demographics
- Coit Center Demographics
- Coit Crossing Demographics
- Countrywide Demographics
- Dallas North Estates Demographics
- Dominion Legacy Demographics
- Downtown Plano Demographics
- Eds Clusters Demographics
- Eds Lakes Demographics
- Ericsson Village Demographics
- Granite Park Demographics
- Legacy Demographics
- Legacy West Demographics
- Parkway Centre Demographics
- Pitman Creek North Demographics
- Plano Medical Plaza Demographics
- Preston Bend Demographics
- Preston Park South Demographics
- Sherrill Park Demographics
- Tennyson Parkway Demographics
- Willow Bend Office Park Demographics
- Wyndham Hill Demographics
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Plano, TX zip codes
Neighborhoods
- Acres of Sunshine Office Space
- Billingsley Office Space
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- Brooks on Preston Office Space
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- Capital One Office Space
- Carrington Park Office Space
- Cloisters Office Space
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- Parkway Centre Office Space
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- Plano Medical Plaza Office Space
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- Preston Park South Office Space
- Sherrill Park Office Space
- Tennyson Parkway Office Space
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