Dallas, TX Commercial Real Estate for Lease

Dallas, TX Economic Overview

When they came up with the slogan “everything’s bigger in Texas,” they were probably talking about Dallas. It’s one of the biggest cities in the country in almost every category, from population to GDP, and it’s also home to one of the most popular sports teams–the Dallas Cowboys. The Dallas commercial real estate market is no exception.

Dallas and the rest of the Dallas-Fort Worth metroplex make up one of the largest economies in the entire country, and it’s carried by industries like healthcare, energy, entertainment, telecommunications, technology, education, finance, and aviation. Dallas-Fort Worth International Airport is the 10th busiest in the world, servicing 64 million passengers each year.

Dallas, TX Commercial Real Estate Market

The Dallas-Fort Worth area is home to 226 million square feet of office space and the headquarters of 21 different Fortune 500 companies. There are nine of them in the city of Dallas alone, which also has more shopping centers per capita than any other city in the country.

Downtown Dallas serves as the Dallas’ central business district and is home to numerous large companies, including the headquarters of AT&T, Comerica, ENSCO, and Neiman Marcus. Telecommunications, energy, healthcare, technology, and financial services dominate the Downtown Dallas office market.

Uptown Dallas is an upscale, highly-educated area of Dallas where you’ll find the headquarters of Fortune 500 companies Dean Foods and HollyFrontier. Roughly 68% of the Uptown workforce has a bachelor degree or higher. The local economy takes full advantage of this, by focusing on fields like finance, consulting, and technology. This is also one of the fastest growing areas of the city, with the Uptown Dallas office market seeing a 30% increase in rents since 2011, while commercial vacancies have dropped below those of Downtown Dallas.

North Dallas is an important center of technology and telecommunications and includes the Telecom Corridor, which is home to over 600 technology companies, from AT&T to Samsung, and the headquarters of Texas Instruments. The North Dallas office market features over 25 million square feet of office space, and is also a hub for retail, featuring establishments like the Preston Center.

Irving is home to the headquarters of six Fortune 500 companies, including ExxonMobil, Fluor and Commercial Metals. The Irving office market and economy are driven by telecommunications, technology, and financial services, with Citigroup and Verizon among the top employers.

Dallas, TX Office Rental Rates ($/SF/year)

Data provided by Yardi Matrix, for properties larger than 50K SF.

Dallas, TX Office Sales

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Dallas, TX Commercial Inventory Breakdown

Office Spaces

Total: 140,467,172 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

50k to 100k SF: 11,912,148 SF / 8.48% of total office
100k to 500k SF: 82,219,081 SF / 58.53% of total office
500k to 1M SF: 21,869,132 SF / 15.57% of total office
> 1M SF: 24,466,811 SF / 17.42% of total office

By class:

Class A+: 13,833,881 SF / 9.85% of total office
Class A: 60,329,948 SF / 42.95% of total office
Class B: 51,396,440 SF / 36.59% of total office
Class C: 2,218,569 SF / 1.58% of total office

Industrial

Total: 114,846,155 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

50k to 100k SF: 3,222,631 SF / 2.81% of total industrial
100k to 500k SF: 72,903,487 SF / 63.48% of total industrial
500k to 1M SF: 26,128,681 SF / 22.75% of total industrial
> 1M SF: 12,591,356 SF / 10.96% of total industrial

By class:

Class A: 45,076,372 SF / 39.25% of total industrial
Class B: 56,689,975 SF / 49.36% of total industrial
Class C: 7,324,106 SF / 6.38% of total industrial

Employment in Dallas, TX

Dallas has long been one of the most important economic producers in the country, and today is no different. The Dallas-Fort Worth area currently employs over 3.5 million in non-farming occupations, which represents a 23% increase since 2010, the largest improvement in the U.S.

The city is also a top 10 destination for business travel in the U.S. and is home to more billionaires than every U.S. city, excluding New York, Los Angeles and San Francisco.

Healthcare Roughly 28% of Dallas jobs are in the healthcare field, which is more than any other sector. Texas Health Resources, Baylor Health System, and the UT-Southwestern Medical Center employ over 50,000 between them and the Fortune 500 company Tenet Healthcare has its headquarters in Dallas;
Education The second-biggest employer in the Dallas-Fort Worth region is education, with the Dallas-Fort Worth and Arlington Independent School districts being the biggest employers. The University of Texas at Arlington isn’t far behind, with over 6,000 employees;
Aviation and Airlines From the aerospace manufacturing facilities of Lockheed Martin, which employ over 14,000, to American Airlines, which employs 27,000, the aviation industry is a massive source of jobs in Dallas. The area also hosts the headquarters of both American Airlines and Southwest Airlines;
Banking and Finance Dallas is the headquarters of the Fortune 500 financial institution Comerica Bank. Bank of America and JP Morgan Chase provide nearly 35,000 jobs in the area;
Retail Dallas’ gigantic retail market provides roughly 8% of the area’s total employment, with brands like Wal-Mart, Kroger, and Target in the lead. You’ll also find JC Penney’s headquarters here;
Government The public sector is another important Dallas-Fort Worth jobs creator, including the City of Dallas, the City of Fort Worth, and the U.S. Postal Service.

Education in Dallas, TX

The Dallas metro area serves as an important center of education in the southern U.S., with plenty of colleges and universities both in and around the city, including the University of Texas at Dallas, Southern Methodist University, the University of Texas Southwestern Medical School, and the University of Dallas.

Most of Dallas is served by the Dallas Independent School District, one of the largest in the country. The area is also home to some top-ranking magnet schools, including the School for the Talented & Gifted and the Science and Engineering Magnet.

Commuting Time in Dallas, TX

The Dallas-Fort Worth area as a whole has some of the worst commute times in the country, though the city of Dallas remains manageable, at around 25 minutes one way. Only 4% of Dallas residents use mass transit, and the number is even lower for Dallas-Fort Worth, at 0.7%.

Nonetheless, public transportation is available through Dallas Area Rapid Transit, or DART, including a light rail that operates from around 5AM to midnight each day. You can find out more here: https://www.dart.org/riding/riding.asp

Dallas Demographics

Population

Total Population1,300,122
Male Population(49.6 %) 644,344
Female Population(50.4 %) 655,778
Median Age32.50

Income/Financial

Average Household Income$78,925
Median Household Income$47,285
Median Income Under 25$32,969
Median Income 25-44$50,022
Median Income 45-64$51,856
Median Income Over 65$38,778

News

Top U.S. Cities Add 682 Million Square Feet of Office Space in 10 Years

October 15, 2019

Key takeaways: 682 million square feet of office space have been added across the country in the last 10 years. Campus-style tech companies greatly influenced the suburban expansion throughout the U.S. New York City, Chicago, and San Francisco grew the most on the fringes of the urban cores. The...

2019 US Office Pipeline – NYC, the Bay Area and San Francisco Set to Deliver 33 MSF of Office Space

April 10, 2019

Since 2009, the U.S. economy has had more than 110 consecutive months of growth, making this the second longest economic expansion since the Great Depression. After a rather tepid 2017 performance, the U.S. office market gathered some steam in 2018, adding 76 million square feet of new office sp...

US Industrial Pipeline | The 10 Largest Projects Coming in 2019

April 03, 2019

The U.S. industrial real estate market had a solid year in 2018 and has continued to strengthen through the first quarter of 2019. Industrial rents are on an upward path, while the construction pipeline is robust and development is spurred on by the e-commerce sector. In terms of development, 20...

COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Dallas, TX. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 1604 square feet and 371335 square feet. Discover the right property from our 1267 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.

Commercial Real Estate in Dallas, TX - 1,267 Properties Available

Dallas, TX Economic Overview

Dallas, TX Commercial Real Estate Market

Dallas, TX Office Rental Rates ($/SF/year)

Dallas, TX Office Sales

Dallas, TX Commercial Inventory Breakdown

Office Spaces

Total: 140,467,172 SF

By square footage range:

By class:

Industrial

Total: 114,846,155 SF

By square footage range:

By class:

Employment in Dallas, TX

Education in Dallas, TX

Commuting Time in Dallas, TX

Dallas Demographics

Population

Income/Financial

News

Top U.S. Cities Add 682 Million Square Feet of Office Space in 10 Years

2019 US Office Pipeline – NYC, the Bay Area and San Francisco Set to Deliver 33 MSF of Office Space

US Industrial Pipeline | The 10 Largest Projects Coming in 2019

Cities near Dallas, TX

Neighborhoods

Cities near Dallas, TX