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| Latest Deals & C ommercial Real Estate Market
Notable Relocations & Expansions
New Developments
FarmWorks One
102,000 SF Class A office building within the new mixed-use development , The Farm in Allen located on the SH 121 corridor
• Three stories with 30,000 SF floor plates
• Opened September 2024 and 50% leased
• Walkable amenities include restaurants, entertainment and urban living
Leasing information: Nathan Durham, Newmark, (214) 495-8581 or Duane Henley, (214) 893-3359.
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 One Bethany East opened in 2018
• Both East and West are fully leased
Leasing information: Dillon Buhrkuhl and Nina Tovy, Pillar Commercial at (972) 437-2444.
| Latest Deals & C ommercial Real Estate Market
Market Stats
Class A Office
Existing Class A office located in the Watters Creek District and The Farm in Allen. Both offer a vibrant lifestyle center with walkability to restaurants, shops and connected to parks and trails.
New mixed-use corporate campuses are under construction or planned along the SH 121 Corridor.
Key Stats
$35 NNN Rent per SF
1,085,738 SF Total SF Class A Office Space 17.5% Vacancy Rate
189,690 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
$27 - $39 NNN Rent per SF
2,663,328 SF Total SF Office Space 9.1% Vacancy Rate
241,868 SF Available
Industrial/Flex Retail
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.
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.
$16.59 NNN Rent per SF
5,163,484 SF Total SF Industrial/Flex Space 8.4% Vacancy Rate
434,554 SF Available
$30.01 NMM Rent per SF
7,788,807 SF Total SF Retail Space 5.5% Vacancy Rate
426,734 SF Available
| Targeted Industries
Allen showcases remarkable industry diversity, excelling across technology, financial services, advanced manufacturing, life sciences, and more.
With expertise spanning cutting-edge software to specialized engineering, Allen stands as a hub for innovation and progress across sectors.
Software
Innovative software solutions designed for diverse industries, offering tools for efficiency, management, and automation.
Life Sciences
Pioneering medical and nutritional advancements with a focus on devices, dietary supplements, and food technology.
Digital & Technical Services
Expert engineering, consulting, IT solutions, and specialized technical services for diverse industries and needs.
Financial Services
Comprehensive financial and insurance services, from credit reporting to wealth management and mergers.
Technology Product Manufacturing
High-tech products made with precision equipment and worldclass skilled talent.
Energy
Innovative energy solutions, including carbon management, oil and gas exploration, and drilling equipment distribution.
Semiconductor Manufacturing
Advanced semiconductor production and testing innovations, supporting global electronics and communications industries.
| 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 can reduce property tax obligations of a project’s real and business 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.
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 state’s “deal-closing” fund. Cash grants are awarded to qualifying businesses expanding or relocating in the state.
CTexas 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, Engineering, Technology and Innovation) Program
Enables a company, school district and Governor’s office to enter into an agreement for a 10-year school district maintenance and operations tax appraised value limitation based on qualifying job and capital investment minimums.
Texas Semiconductor Innovation Fund:
Provides grants to business entities with an established presence in Texas with business related to semiconductor manufacturing and design.
AEDC 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.
| Projects in the News
ALLEN TECH HUB ADDS NT FIBER AS TENANT WITH LONG TERM LEASE BOOSTING OCCUPANCY
DALLAS BUSINESS JOURNAL - JULY 2025
THE FARM IN ALLEN ADDS MORE OFFICE TENANTS AND IS NOW 50% LEASED THE FARM IN ALLEN NABS FIRST OFFICE TENANT, FIBERGRATE COMPOSITE STRUCTURES
DALLAS BUSINESS JOURNAL- JUNE 2025
DALLAS BUSINESS JOURNAL - MAY 2025
HVAC FIRM BRINGS MORE THAN 150 JOBS TO ALLEN IN HQ MOVE
DALLAS BUSINESS JOURNAL - MAY 2025
STAGE SET FOR NEW $1B KALAHARI RESORT WATERPARK IN ALLEN
DALLAS BUSINESS JOURNAL - FEBRUARY 2025
FILM DISTRIBUTOR WELLGO USA ENTERTAINMENT RELOCATES HQ TO ALLEN
DALLAS INNOVATES - JANUARY 2025
NINE-STORY OFFICE TOWER PLANNED IN ALLEN’S WATTERS CREEK DISTRICT
DALLAS MORNING NEWS - AUGUST 2024
CHIPMAKER ONSEMI TO RELOCATE NORTH TEXAS DESIGN OPERATIONS TO ALLEN
DALLAS MORNING NEWS - JUNE 2024