A new Plano business park will bring almost 1 million square feet of warehouse and distribution space in a high-profile location.
Prologis – the San Francisco-based company that is already one of North Texas’ biggest industrial building owners – is planning the 8-building warehouse project on Bush Turnpike at Custer Road.
The busy site on Plano’s south border for decades was the location of an office and research park that over the years has housed companies including NTT Data, Dell, Perot Systems and ARCO Oil & Gas.
Parts of the original campus at 2300 W. Plano Parkway were demolished beginning in 2018.
A Prologis affiliate purchased the more than 64-acre site at the end of 2021.
Now Plano’s planning and zoning commission has approved plans for the new business park which would be one of the largest industrial developments in that area of Dallas-Fort Worth.
Plans for the Plano project are moving ahead as Prologis is poised to become an even bigger player in the Dallas-Fort Worth industrial market.
Prologis has agreed to pay $26 billion to acquire competitor Duke Realty.
Prologis owns more than 200 Dallas-Fort Worth warehouses with almost 40 million square feet of space. The D-FW metro area is one of the largest markets for the commercial property firm, which has about 1 billion square feet of industrial real estate worldwide.
And Indianapolis-based industrial and office builder Duke Realty owns more than 17 million square feet of North Texas industrial space in 45 properties.
Duke Realty and Prologis are both active developers in D-FW, which leads the nation in with more than 56 million square feet of industrial building activity.