Plano, TX Office Overview
The Plano real estate market includes the Arbor Hills - Prestonwood, Dallas North Estates, and Willow Bend - Gleneagles submarkets. While the population is nearly 300,000, it’s also part of the Dallas - Fort Worth metroplex, which is home to over 4.7 million residents. The demand for office space remains consistently strong due to the numerous corporate headquarters that are located here.
As of mid-2017, the 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.
Plano, TX Office Inventory Description
Plano contributes greatly to the area's $504 billion annual gross metropolitan product. Nearly 46% of office space in Plano is Class A, while Class B accounts for 53%.
Some of the strongest demand for office space comes from the Legacy West submarket. Located southwest of where the Sam Rayburn Tollway and Dallas Pkwy intersect, this area is home to portfolio office properties such as Parkwood Place, Headquarters I, and One Legacy West.
Plano, TX Commercial Inventory Breakdown
Office Spaces
Total: 48,759,108 SF
By square footage range:
- 50k to 100k SF: 3,438,650 SF / 7.05% of total office
- 100k to 500k SF: 28,083,061 SF / 57.6% of total office
- 500k to 1M SF: 4,620,811 SF / 9.48% of total office
- > 1M SF: 12,616,586 SF / 25.88% of total office
By class:
- Class A+: 212,000 SF / 0.43% of total office
- Class A: 29,409,740 SF / 60.32% of total office
- Class B: 9,666,655 SF / 19.83% of total office
- Class C: 534,408 SF / 1.1% of total office
Top 10 Largest Office Buildings
in Plano
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Toyota Headquarters at Legacy West | 6565 Headquarters Drive, 75024 | 2,100,000 | 2017 |
| The Campus at Legacy West | 6501 Legacy Drive, 75024 | 1,929,059 | 1991 |
| HP Headquarters | 7000 Parkwood Blvd, 75024 | 1,578,500 | 1991 |
| Two, Three & Four Heritage Creekside | SEC West Plano Pkwy & Custer Rd, 75075 | 1,566,200 | n/a |
| Collin Creek Mall - Office Redevelopment | NWC West Plano Pkwy & North Central Expy, 75075 | 1,300,000 | n/a |
| Capital One Plano Campus | 8000 Dominion Pkwy, 75024 | 1,082,323 | 2007 |
| 2300 West Plano Pkwy | 2300 West Plano Pkwy, 75075 | 1,060,504 | 1962 |
| JPMorgan Headquarters at Legacy West | 8181 Communications Pkwy, 75024 | 1,000,000 | 2018 |
| Legacy Business Park | SWC Legacy Drive & Communication Pkwy, 75024 | 1,000,000 | n/a |
| Bank of America Corporate Drive - Buildings A, B & C | 7105 Corporate Drive, 75024 | 733,516 | 1999 |
Most Recently-Built Office Buildings
in Plano
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Legacy Central One | 6500 Chase Oaks Blvd, 75023 | 200,000 | 2019 |
| JPMorgan Headquarters at Legacy West | 8181 Communications Pkwy, 75024 | 1,000,000 | 2018 |
| Liberty Mutual Tower at Legacy West I | 7900 Windrose Avenue, 75024 | 504,753 | 2018 |
| Liberty Mutual Tower at Legacy West II | 7900 Windrose Avenue, 75024 | 504,752 | 2018 |
| Plano Medical Pavilion - 4825 Alliance Blvd | 4825 Alliance Blvd, 75093 | 47,992 | 2018 |
| Toyota Headquarters at Legacy West | 6565 Headquarters Drive, 75024 | 2,100,000 | 2017 |
| Legacy West - Buildings AB & G | 5905 Legacy Drive, 75024 | 421,000 | 2017 |
| Granite Park Seven | 5600 Granite Pkwy, 75024 | 324,010 | 2017 |
| 3400 at CityLine | 3400 North Central Expwy, 75080 | 310,000 | 2017 |
| One Legacy West | 7950 Legacy Drive, 75024 | 307,824 | 2017 |
Plano, TX Green Office Space
Both tenants and 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 is the Pepsi Logistics Company Headquarters. Built in 1999, this 248,000-square-foot property is in the Legacy submarket of Plano and is LEED-Certified Gold.
While Plano itself is too small to be considered a top 30 office market, it is part of the Dallas - Fort Worth metroplex, 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 metroplex and is home to some of the most recognizable businesses and corporate headquarters in the United States. Given its relatively small size, the mixture industry sectors is quite impressive.
- High Tech Corporate Headquarters – Alliance Data, CA Technologies, Dell Services, Ericsson, DXC Technology, and Alcatel-Lucent.
- Food & Beverage Corporate Headquarters – Frito-Lay, Cookies By Design, Pizza Hut, and Yum! Restaurants International.
- Retail Corporate Headquarters – 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.
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
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