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You may have noticed that something's missing from the skyline in Plano's Legacy business park.
That forest of construction cranes is mostly gone from the stretch of the Dallas North Tollway near Legacy Drive.
Just a couple of office projects are still underway.
Legacy West developer Karahan Cos. is building about 87,000 square feet of new offices in a mixed-use building on Headquarters Drive. And Heady Investments is building a 14-story office high-rise on the east side of the tollway near the Shops at Legacy.
"Most of the construction has been completed on the new speculative buildings and big office campuses," said Greg Biggs, managing director with JLL.
While the construction of offices in that area has slowed, it won't last long. Developers are gearing up for the next round of office construction.
This week, Cawley Partners announced plans for 200,000-square-foot Legacy office project that will start construction in September.
The four-story office building called HQ53 will be constructed on Headquarters Drive just west of Preston Road. It will take about a year to complete.
Over in Legacy West, Gaedeke Group is already hunting tenants for a more than 300,000-square-foot office project it plans to build on the south side of State Highway 121.
The 16-story Two Legacy West office high-rise will be constructed next door to Gaedeke's first-phase building, which is almost fully leased to tenants including NTT Data, co-working firm Venture X, Tokio Marine Holding and Softweb Solutions Inc.
Even more developers would be scrambling to start office projects in West Plano if not for the huge supply of space available in older corporate centers.
Office campuses that previously housed operations for Electronic Data Systems, Ericsson, J.C. Penney and more have in excess of a million square feet of space up for grabs.
Investors and developers are busy repositioning those older business digs to appeal to a new generation of office tenants.
"Developers are also being much more conservative in regards to speculative development," Biggs said. "Most of the developers in the market are working toward 30% to 50% preleasing before they break ground on new office developments."