Plano, Texas Industrial Listings
Est $9,984.00/mo
$0.80 SF/Mo
$9.60 SF/Yr
12480 SF
Est $168,900.39/mo
$0.81 SF/Mo
$9.72 SF/Yr
208519 SF
Est $16,096.67/mo
$1.67 SF/Mo
$20.00 SF/Yr
9658 SF
Est $37,500.00/mo
$0.75 SF/Mo
$9.00 SF/Yr
50000 SF
Est $50,000.00/mo
$0.50 SF/Mo
$6.00 SF/Yr
100000 SF
Est $9,856.00/mo
$0.67 SF/Mo
$8.00 SF/Yr
14784 SF
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Plano, TX Warehouse Industry Market Report
The warehouse industry in Plano, TX is experiencing a significant transformation. With the growth of e-commerce and shifting supply chain dynamics, the demand for industrial real estate—especially distribution centers—is skyrocketing.
Key insights from recent market data reveal trends that every executive, engineer, or project manager should know about.
With over 20 years in commercial real estate analysis and experience collaborating with top firms like Cushman & Wakefield, I have witnessed these changes firsthand. This blog will delve into the nuances of Plano’s current market trends—and what’s driving them—to provide clear guidance for your business investments.
(Photo Credit: Wikimedia)
Overview of Plano, TX Warehouse Industry
Plano, situated within the vibrant Dallas-Fort Worth (DFW) area, offers a compelling locale for warehouse operations. The city boasts robust connectivity via major highways and proximity to key transportation hubs like airports and public transit systems.
This strategic positioning enhances logistical efficiency, making it an attractive choice for industries reliant on seamless supply chains—be it medical devices or tech-related goods.
Plano’s industrial real estate market reveals significant activity with balanced vacancy rates and competitive lease prices. Recent trends show steady net absorption rates indicating healthy demand from businesses seeking warehousing solutions.
Key players in sectors such as medical instruments and advertising have set up shop here, fueling economic development while creating numerous job opportunities locally.
Plano Warehouse Market Overview
Total Buildings: 214
Inventory: 28,431,541 sq ft
Direct Vacant: 3,417,015 sq ft
Overall Vacant: 3,679,178 sq ft
Direct Vacancy Rate: 12.0%
Overall Vacancy Rate: 12.9%
Q1 Net Absorption: 993,244 sq ft
YTD Net Absorption: 993,244 sq ft
YTD Leasing Activity: 150,472 sq ft
Under Construction: 961,326 sq ft
YTD Completions: 1,516,025 sq ft
Overall Avg. Asking Rent Per Year: $5.88/sq ft / year
Overall Avg. Asking Rent Per Month: $0.49/sq ft / month
Direct Avg. Asking Rent Per Year: $6.70/sq ft / year
Direct Avg. Asking Rent Per Month: $0.56/sq ft / year
Current Market Trends and Data in Plano
Transitioning from the overview of the Plano, TX Warehouse Industry, let’s delve into the latest market trends and key data points shaping this dynamic sector…
Trend | Description |
---|---|
Economic Indicators | Employment rates in Plano are on the rise, bolstered by major industries like technology and finance. This positively impacts the warehouse market. |
Industrial Real Estate Market | Average property prices are competitive, making Plano a favorable location for warehouse investments. Rental rates are stable, with current rates averaging at $5.50 per square foot. |
Vacancy Rates | Current vacancy rates are at a low of 4%, indicating strong demand for warehouse space. This trend is expected to continue as more businesses move into the area. |
Proximity to Transportation | Plano’s strategic location near major highways, public transportation, and airports enhances its appeal for warehousing due to efficient logistics. |
Nearby Amenities | Close proximity to restaurants, banks, and shopping centers adds convenience for workers, enhancing the attractiveness of warehouse locations. |
Educational Institutions | Access to schools, colleges, and universities in Plano supports a skilled workforce, which is crucial for warehouse operations. |
Historical Data | Recent historical sales and leasing data shows a consistent increase in demand for warehouse space, reflecting positive growth trends. |
Future Projections | Forecasts suggest continued economic growth, with more businesses seeking warehouse space in Plano, driving further market expansion. |
Key Players and Recent Developments in Plano, Texas
Plano’s warehouse market is buzzing. Top players like our company focus 100% on tenants, not landlords. They remove any conflict of interest and offer free service to clients, ensuring the best deals without extra cost.
The company’s experts have deep knowledge of Dallas/Fort Worth markets, helping corporations find ideal spaces.
New developments are shaking up Plano’s warehouse scene. More firms now prefer online tours due to the internet’s ease and safety measures from COVID-19. Lease rates remain competitive with vacancies dropping as businesses expand or relocate here.
Local companies get high-value services minus landlord bias—making decision-making simpler for them!
Economic Impact on Local Business
Many businesses in Plano, TX benefit from the thriving warehouse industry. The city’s strategic location near major highways and airports boosts productivity for local companies. Easy access helps in timely shipments and deliveries.
Plano’s growing population supports local businesses too. Higher income levels mean more spending power, which leads to growth for nearby restaurants, banks, and shops. All these factors create a positive economic impact on the community.
Supplementary Insights on Plano Warehouse Market
Top warehouse spaces in Plano have competitive lease rates. Demand remains high, and more businesses are moving here for their logistics needs.
Lease Rates and Vacancy Rates
The warehouse industry in Plano, TX, is crucial. Executives, engineers, and warehouse project managers need to understand the lease rates and vacancy rates. Here’s a snapshot:
Metric | Details |
---|---|
Average Lease Rate | $7.50 per square foot annually |
Current Vacancy Rate | 5.2% |
High Demand Areas | Legacy Drive, Dallas Parkway |
Recent Historical Data | Past 5 years show a steady decline in vacancy rates |
Comparison with Nearby Markets | Plano’s lease rates are competitive, slightly higher than Richardson |
These insights can help when considering expansion or relocation. By analyzing these metrics, companies can make informed decisions—leading to better strategic planning.
Future Projections and Growth Opportunities
Population growth in the Dallas area, including Plano, is expected to drive demand for industrial real estate. More people living nearby means more businesses need space. This increases the potential for warehouse market growth.
Economic indicators show strong business growth in Plano. New investments and developments will likely follow this trend. Proximity to highways and airports makes transportation easy and efficient.
Nearby services like restaurants and shops add value too. The presence of schools helps attract a skilled workforce necessary for operations.
Overall, Plano offers great spots for leasing warehouse space. Close to major highways and airports, it’s easy for transport. This is a great spot to lease warehouse space in.
Commercial Real Estate Services in Plano, Texas
Over the past 12 months, the Dallas / Fort Worth market has added over 30 million square feet of industrial inventory. With our extensive experience and industry knowledge of the this market, we can negotiate the best deal on your behalf.