Commercial Real Estate Is Booming In Plano
The next time you’re in Plano, try to count the cranes. The area is home to some great new projects, and here are some to keep an eye on.
Soon, there will be three new office buildings at the popular Granite Park site at Dallas North Tollway and State Highway 121. Fannie Mae is breaking ground on its 330k SF building any day now. Collectively, these new structures will add more than 1M SF of office space to the mixed-use development, which already includes five office buildings, retail space and a full-service Hilton.
Capital One Facility
A four-story office building is under construction at 8058 Dominion Pkwy, Capital One’s 75-acre Plano campus. The 205k SF facility is the seventh office building on the campus. Scheduled to be complete in early 2017, the structure will have space for up to 1,200 employees.
In 2017, Toyota will open the new, seven-building complex for its North American HQ. Located at State Highway 121 and Legacy Drive, the $350M, environmentally sustainable project will provide office space for more than 4,000 employees. The move will cost Toyota $1B.
Liberty Mutual Insurance Operations Center
Liberty Mutual began work on a $325M regional operations center at the Dallas North Tollway and Headquarters Drive. The 1M SF structure will boast two towers and space for over 4,000 workers, and it will be Liberty Mutual’s first major campus outside of the Northeast.
JP Morgan Chase Complex
JP Morgan Chase’s 6,000 workers in Plano will soon be housed in five new office buildings. Located at State Highway 121 and the Dallas North Tollway, the 1M SF campus will include reflecting pools, parks and plazas.
JC Penney Campus
If all goes according to plan, retail giant JC Penney—eager to take advantage of Plano’s thriving commercial real estate market—will soon rezone seven tracts of its Legacy Drive campus. If the City of Plano approves the project, 111 acres could be developed into office and retail space.
There’s a brand-new, 265k SF corporate campus at Legacy Drive and Headquarters Drive, and FedEx started moving 1,200 employees there in October. The complex is FedEx’s worldwide HQ.