With a 5.8% overall vacancy rate in East Plano, options are limited for tenants and Landlords are recognizing the opportunity to raise rates.
The Richardson/Plano Sub-Market has shown an increase in the direct Class A vacancy from 6.7% in the fourth quarter of 2014 to 10.9% at the beginning of the fourth quarter of 2015.
The North Central Expressway Sub-Market has remained closely stable with a decrease in the Direct Class A vacancy from 17.5% at the end of fourth quarter of 2014 to 15.6% at the end of the fourth quarter of 2015.
The Dallas/Ft.Worth Office Market ended the fourth quarter 2015 with a vacancy rate of 14.1%.
Across all product types, North Texas has seen skyrocketing rental rates and diminishing vacancy. Office space on the Lower Tollway is no exception.