Dallas, TX Office Overview
With a metropolitan population of nearly 5 million residents, Dallas ranks among the 10 largest cities in the country. Boasting a highly diverse economy, the North Texas real estate market is continually expanding. Strong demand for office space is driven mainly by the defense, financial, and both traditional and non-traditional high technology industries.
The densest urban office submarkets are located in Central Dallas and Northwest Dallas. Downtown Dallas office space, along with office properties in Deep Ellum, and the flexible office space in the Design District’s upscale live-work-play community are among the most sough-after Dallas locations.
Dallas, TX Office Inventory Description
Dallas is the largest economic center in the 12-county Dallas–Fort Worth metropolitan area, and generates more than $500 billion in gross metropolitan product each year, much of it through white-collar and head office employment. More than 51% of the office space in Dallas is Class A, while Class B properties account for nearly 48% of inventory.
The City Center–Arts District in Dallas is one of the densest areas for Class A office space. Bordered by State Route 366, Interstate 345 and Commerce Street, the area is home to prestigious office buildings such as 2100 Ross, Republic Center, and Pacific Place. Businesses such as AT&T, Comerica, and Tenet Healthcare are all headquartered in the Dallas City Center Business District.
Dallas, TX Commercial Inventory Breakdown
Total: 151,471,065 SF
By square footage range:
- 50k to 100k SF: 12,039,120 SF / 7.95% of total office
- 100k to 500k SF: 83,567,078 SF / 55.17% of total office
- 500k to 1M SF: 22,582,346 SF / 14.91% of total office
- > 1M SF: 33,282,521 SF / 21.97% of total office
- Class A+: 13,833,881 SF / 9.13% of total office
- Class A: 61,891,005 SF / 40.86% of total office
- Class B: 57,840,729 SF / 38.19% of total office
- Class C: 2,218,569 SF / 1.46% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Texas Instruments North Campus||13592 North Central Expwy, 75243||6,966,710||1958|
|Bank of America Plaza||901 Main Street, 75202||1,849,729||1983|
|Dallas Medical Research Park - Redevelopment||SWC Harry Hines Blvd & Medical District Drive, 75390||1,800,000||n/a|
|Renaissance Tower||1201 Elm Street, 75270||1,738,979||1974|
|Infomart||1950 North Stemmons Fwy, 75207||1,570,969||1985|
|Thanksgiving Tower||1601 Elm Street, 75201||1,410,355||1981|
|The Tower at Cityplace||2711 North Haskell Avenue, 75204||1,350,267||1985|
|1700 Pacific Avenue||1700 Pacific Avenue, 75201||1,344,810||1983|
|The Crescent||100 Crescent Court, 75201||1,299,522||1983|
|Chase Tower||2200 Ross Avenue, 75201||1,253,615||1985|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|The Epic||2555 Pacific Avenue, 75226||251,000||2019|
|Harwood No.10||2850 North Harwood Street, 75201||234,548||2019|
|Hilltop Plaza||6565 Hillcrest Avenue, 75205||118,989||2019|
|Old Parkland - North Campus||3819 Maple Avenue, 75219||96,000||2019|
|Harwood No. 8||2610 North Harwood Street, 75201||56,422||2019|
|East Quarter - Block House||507 South Harwood Street, 75201||41,000||2019|
|The Union Dallas||2300 North Field Street, 75201||505,132||2018|
|PwC Tower at Park District||2101 North Pearl Street, 75201||500,000||2018|
|1900 Pearl||1900 North Pearl Street, 75201||260,326||2018|
|Fourteen555 - Building 1||14555 North Dallas Pkwy, 75001||252,000||2018|
Dallas, TX Green Office Space
Of the Top 30 Green Office Markets in the U.S., Dallas ranked 17th for energy efficient office buildings in 2017. While just over 3% of the office buildings larger than 50,000 square feet were LEED-certified, another 10% were Energy Star-rated by the EPA, and more than 12% were otherwise rated as green buildings.
A new recent study by the North Texas U.S. Green Building Council Chapter found that green construction is a major economic driver in the state of Texas. As both tenants and investors seek out green certified assets for their portfolios, adoption of green building practices continues to accelerate.
The 2017 National Green Building Adoption Index looked at office properties in 30 major U.S. markets and found that, including EPA Energy Star-rated properties, the percentage of green certification has increased from under 5% in 2005 to 38% as of mid-2017. Dallas ranked 17th according to this survey.
Dallas, TX's Top Office-Using Sectors
Major demand for Class A office space in Dallas comes is driven by the energy, technology, financial services, and the aerospace and defense industries. Some of the largest publicly traded companies in Dallas include Dean Foods, Southwest Airlines, Affiliated Computer Services, and Energy Transfer Equity.
- Energy – Due to the city's location in the oil-rich Permian Basin, the energy industry is a major contributor to the economy in the metro area, and also generates significant demand for Class A office space in Dallas. Energy, manufacturing and distribution companies such as ExxonMobil, Jacobs Engineering, and Pioneer Natural Resources are all located here.
- Technology – the Dallas metroplex is home to both traditional and non-traditional high-tech companies, including AT&T, Texas Instruments, and Fluor Engineering.
- Financial Services – financial services enterprises make up a key component of the demand for office space in Dallas, with companies such as Energy Future Holdings and GE Capital located here.
- Aerospace and Defense – American Airlines, Southwest Airlines, and the Celanese Corporation are all located in Dallas and are major local occupiers of office space.
- Total Population1,318,806
- Male Population(49.6 %) 653,609
- Female Population(50.4 %) 665,197
- Median Age32.70
- Average Household Income$82,630
- Median Household Income$50,100
- Median Income Under 25$36,555
- Median Income 25-44$52,606
- Median Income 45-64$54,528
- Median Income Over 65$40,351
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