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| Latest Deals & Commercial Real Estate Market
Notable Relocations & Expansions
New Developments
One Watters Creek
100,000 SF Class A tech-friendly office building on the south side of the Watters Creek District
• Four stories with 25,000 SF floor plates
• 4/1,000 parking garage
• Located within Watters Creek Village, the outdoor lifestyle center with over 70 shops and restaurants
• Leasing available
Leasing information: Ruth Griggs, Thirty Four Commercial at (214) 974-4334.
One Bethany North at Watters Creek
One Bethany North, the 9-story 225,000 SF building will be the fourth in the 17-acre One Bethany at Watters Creek campus
• Walking distance to Watters Creek Village
• Ready for corporate relocations
• Adjacent to One Bethany West, opened in 2020 and substantially leased
• Adjacent to One Bethany East; fully leased
Leasing information: Dillon Buhrkuhl and Nina Tovy, Pillar Commercial at (972) 437-2444.
| Latest Deals & Commercial Real Estate Market
Market Stats
Class A Office
Existing Class A office located in the Watters Creek District, a vibrant lifestyle center with walkability to restaurants, shops and connected to outdoor parks and trails.
New mixed-use corporate campuses under construction or planned along the SH 121 Corridor.
Key Stats
$39 NNN Rent per SF
1,085,738 SF Total SF Class A Office Space
22.5% Vacancy Rate
244,732 SF Available
All Office
Allen has a wide diversity of office buildings ranging from Class A and B product to flex spaces.
Regardless of office requirement, Allen has the right space for you.
Key Stats
$26 - $39 NNN Rent per SF
2,607,778 SF Total SF Office Space 10.6% Vacancy Rate
276,231 SF Available
100,000 SF Came Online in August with FarmWorks One
Industrial/Flex
Allen’s industrial/flex space is close to many restaurants and amenities.
The available workforce is a sought after mix of both white collar technical and blue collar workers all within 30 minutes.
Key Stats
$14.14 NNN Rent per SF
4,626,695 SF Total SF Industrial/Flex Space 10% Vacancy Rate
464,918 SF Available
Retail
Allen is a major retail hub in Collin County. From large scale retail to boutiques, Allen is the perfect location for any retailer.
And there is still plenty of room within many of our new and existing developments.
Key Stats
$28.85 NMM Rent per SF
7,735,942 SF Total SF Retail Space 4.2% Vacancy Rate
324,443 SF Available
| Incentives
Local Incentives
Cash Grants
As a Type A Corporation, the Allen EDC receives dedicated revenue from a half-cent sales tax. Backed by a healthy fund balance, cash grants are available for qualified businesses, both relocating and existing in Allen, to assist with the following expenses:
• Relocation costs
• Infrastructure costs
• Job training and hiring costs
• Capital Investment
Property Tax Abatements
The City of Allen and Collin County can reduce property tax obligations of a project’s real and personal property for up to 10 years.
Skills Development Fund
Texas dedicates over $48 million to workforce training. Collin College partners with companies to apply for these grants and designs customized training programs in as little as six months.
Triple Freeport Inventory Exemption
Inventory to be exported from the state is exempt from property taxes. Companies in Allen claiming this exemption saved an average of $695,000 on property taxes over the last five years.
Other Local Incentives
• School District Property Tax Value Limitations
• Chapter 380 Grants
• Tax Increment Financing (TIF)
• AEDC owned land
• City funded infrastructure (Roads and Utilities)
State Incentives
Skills Development Fund
State funds are available to assist with customized job training offered by Collin College’s Center for Workforce and Economic Development.
Texas Enterprise Fund
The Texas Enterprise Fund (TEF) is the nation’s largest “deal-closing” fund. Cash grants are awarded to businesses expanding or relocating in the state.
Texas Enterprise Zone Program
Businesses can receive sales tax refunds for investing in or hiring from economically distressed areas.
Business Relocation Deduction
Businesses relocating to Texas can deduct qualified relocation expenses from their state franchise taxes.
Research & Development Tax Credit
Companies engaged in research and development operations can receive a reduction in either their state sales tax or franchise tax.
JETI (Jobs, Enginnering, Technology and Innovation) Program
Enables a company, school district and Governor’s office to enter into a to enter into an agreement for a 10-year school district maintenance and operations (M&O) tax appraised value limitation pursuant to statutorily mandated job creation and investment minimums
Incentive Process
1. Meet with AEDC staff.
2. Submit completed application to the Allen EDC.
3. A staff member will follow up to qualify the project.
4. The project is presented at the monthly Board Meeting.
5. A term sheet is prepared and agreement drafted.
6. After signing, relationship and services with the Business Retention & Expansion Manager begin.
| Site
A. One Bethany at Watters Creek
Two shovel ready AEDC owned sites with mixeduse amenities in the 17 acre office campus
» One Bethany North, next to One Bethany West, 200,000 SF, eight-story building
» Next to One Bethany East, 125,000 SF five-story building fully leased
B. SH 121 Corridor
C Two AEDC owned land tracts on frontage of SH 121
» 14 acres West of Stacy Rd
» 10 acres East of Chelsea Blvd
