Tag Archives: plano

New Office Building Announced for Sam Rayburn Tollway in Allen

Post By : admin 16 June 2015 Leave a comment

It seems that most of the new buildings announced in the last couple of years have been in west Plano, Frisco or Richardson. So it’s nice to hear about something happening further north in Allen.

TIG Real Estate Services is about to break ground on a $31 million office building on the Sam Rayburn Tollway between Stacy Road and Watters Road. It will be six stories and 154,000 square feet. The Allen Economic Development Corporation owns a lot of land in that area and really wants office building development. Office buildings bring good jobs. TIG has optioned 8 acres for this project.

The building will be called Ridgeview Business Center and is the first office building on the Allen side of the Sam Rayburn Tollway. On the McKinney side of the Tollway, there is one building – Valliance Plaza – which has been there a few years.

 

Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

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Yet Another Office Building Announced for Plano

Post By : admin 4 June 2015 Leave a comment

It seems like we hear about a new office building planned for Plano every week or so. This time the announcement came from Stream Realty Partners which is planning to build a 12-story office building at the Dallas North Tollway and Tennyson Parkway. It will be called Platinum Tower giving a nod to the Platinum Corridor which Randy Garrett trademarked for the Tollway north of LBJ Freeway several years ago.

Platinum Tower

The building will be 271,000 square feet and will be the second phase of Stream’s Platinum Park development where they already have a 5-story building under construction.

More than 5 million square feet of office space is in the works for West Plano and Frisco right now. That seems like a lot, but more than half of it is already leased.

 

Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

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Texas – Growth Capital of the USA

Post By : admin 28 May 2015 Leave a comment

According to a recent article on CNN Money, Texas has 3 of the top 5 fastest growing cities in the USA according to U.S. Census Bureau data on population growth between 2013 and 2014. While New York City is number 1, Houston (#2) , Austin (#4) and San Antonio (#5) are in the top 5.

Austin had over 100,000 people move there since 2010, but only 25,600 in the 2013-2014 period  while New York City had 52,700. Los Angeles was number 3 with 30,900.

Other cities in the top 10 include (in order), Phoenix, San Diego, Dallas, Fort Worth and Charlotte. So in the top 10, Texas has 5 spots, California has 2 spots – no other state has more than one city in the top 10.

Other interesting findings from the data: there are now 10 cities in the US with over 1 million people. New Orleans got back into the top 50 largest cities for the first time since Hurricane Katrina.

Texas has seen large layoffs in the energy sector, but remains hot in tech, education and health care. Unemployment is still quite low and is still quite affordable.

For the full article, click here.

This is why it’s getting difficult in some submarkets to find lots of options when companies are looking for office and warehouse space to lease or buy. Historically, we could find lots of options, but not so any more. In some submarkets, it’s easier to find 50,000 square feet (SF) than 5,000 SF.

 

Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.

Categories: Uncategorized