As more companies ask employees to return to the office, Plano and Dallas are seeing a rise in commercial office leasing. Businesses are carefully choosing office size, location, and amenities in the post-pandemic world.
Plano leads the comeback
For the first time in five years, Plano is experiencing increased interest in vacant office spaces. Filling these offices is important because commercial property makes up half of the city’s tax revenue. Empty buildings mean less tax money for schools, roads, and city services.
Doug McDonald, Plano’s Director of Economic Development, said:
“We’re starting to see a rebound as companies decide whether to return to the office or consolidate operations. Plano is becoming a hot spot for office leasing.”
Recent deals in Plano
Over the past two months, at least 9 new leases have brought major companies to local buildings:
- Granite Park: Tech Mahindra Americas HQ (27,000 SF), Midea America (25,000 SF), Atlantic Aviation (25,000 SF), Lockton (53,000 SF)
- Liberty Mutual building: Sally Beauty Holdings (140,000 SF), Comcast Business (50,000 SF)
- Ryan Tower: Koch, Inc. (29,000 SF)
Sally Beauty Holdings is relocating its global headquarters to Plano, bringing 600 employees.
Reimagining old office campuses
The city is also transforming older office spaces, like the former EDS and J.C. Penney campuses, into mixed-use developments with residential, retail, and restaurants. These changes meet modern corporate preferences for amenities and walkability.
Dallas also seeing gains
Downtown Dallas reports a slight increase in office leasing. After pandemic uncertainty, companies now have more certainty about space needs, which is helping fill vacancies in existing buildings.
Evan Sheets, VP of Planning and Policy for Downtown Dallas Inc., said:
“New construction has slowed nationally, so existing office buildings can absorb these leases. This is a big opportunity for cities like Dallas and Plano.”
Looking ahead
Plano will see new office inventory coming this summer, including at Granite Park 6. Both cities are encouraging developers to convert vacant offices into residential and mixed-use spaces, attracting businesses while revitalizing neighborhoods.