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Commercial Real Estate

West Plano Village Wins Big Lease From Spaces

Coworking keeps a-coming for the ‘burbs.
By Jeremiah Jensen |
West Plano Village rendering
Courtesy of Weitzman

Spaces, an Amsterdam coworking company that recently crossed the pond to start setting up shop in major U.S. cities, has leased 31,152 square feet at West Plano Village. It will be the company’s third location in the metro. The other two are in Dallas and Southlake.

Fults Commercial and Weitzman represented West Plano Village in the deal, and CBRE represented Spaces.

Although coworking is a well-established and popular commodity in Dallas’ urban core, demand is clearly mounting in other hot job nodes within the metro, not the least of which is Plano, where operators have created a suburban coworking beachhead. Research from Cushman & Wakefield shows there are seven coworking venues in Plano proper, with handful of others in the surrounding area.

This grouping represents the most significant coworking cluster outside of urban cores in Dallas and Fort Worth and evinces increasing demand in the Plano/Far North Dallas submarket.

Spaces two-level venue will occupy a significant portion of office space at West Plano Village. “A mixed-use environment is well-suited for a coworking concept like Spaces,” said David Palmer, executive vice president of development for Weitzman. “Spaces’ first-story space is located in the midst of the restaurants at the center of the project, adding an urban synergy.”

West Plano Village has 90,000 square feet of retail space and 60,000 square feet of second-floor office space off the Dallas North Tollway, as well as a 264-unit AMLI Residential development.

Spaces’ new location in Plano is set to open at the tail-end of summer 2019.

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