Irving, TX Office Overview
Irving commercial real estate subdivisions include the Cottonwood Valley, International Airport, and Irving Heights office submarkets. With a metropolitan population of over 6.8 million people, Irving is part of the enormous Dallas-Fort Worth metroplex. The 12,000-acre Las Colinas mixed-use master planned development and the adjacent Dallas/Fort Worth Intentional Airport all help to generate a strong demand for white-collar office employment in Irving.
As of mid-2017, the Greater Irving office market encompasses nearly 33 million square feet of existing office space in properties larger than 50,000 square feet. Both foreign and national companies are attracted to Irving's strategic geographic location and the region's highly skilled labor force, creating a continuous demand for Class A office space in the Irving metropolitan area.
Irving, TX Office Inventory Description
Irving is located northwest of Dallas and northeast of Fort Worth, putting the city right in the middle of one of the most dynamic markets in the U.S. As part of the Dallas - Fort Worth metroplex, Irving generates its share of the region''s nearly $318 billion annual gross metropolitan product. The demand for office space in Irving is robust. Roughly 25% of the office space in Irving is Class A or A+, while Class B office product contributes another 73% of inventory to the Irving commercial real estate market.
The Coppell office submarket of Irving continues to see some of the strongest demand for the Class A office space within its borders. Located just north of Irving between the I-635 and the I- 25E freeways this suburban office market is home to prestigious office buildings such as the 121 Corporate Park property, the 9111 Cypress Waters Boulevard office building, and the Coppell Commerce Center I & II on South Belt Line Road.
Irving, TX Commercial Inventory Breakdown
Total: 40,411,905 SF
By square footage range:
- 50k to 100k SF: 4,023,078 SF / 9.96% of total office
- 100k to 500k SF: 29,622,414 SF / 73.3% of total office
- 500k to 1M SF: 3,066,413 SF / 7.59% of total office
- > 1M SF: 3,700,000 SF / 9.16% of total office
- Class A: 14,650,565 SF / 36.25% of total office
- Class B: 21,720,583 SF / 53.75% of total office
- Class C: 790,757 SF / 1.96% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Hidden Ridge Development||NWC Hidden Ridge & West John Carpenter Fwy, 75038||2,600,000||n/a|
|Pioneer Natural Resources Headquarters||777 Hidden Ridge, 75038||1,100,000||2019|
|The Urban Towers||222 West Las Colinas Blvd, 75039||848,591||1982|
|The Towers at Williams Square - Central Tower||5215 North O'Connor Blvd, 75039||614,527||1981|
|600 Hidden Ridge||600 Hidden Ridge Drive, 75038||556,381||1990|
|700 Hidden Ridge||700 Hidden Ridge Drive, 75038||536,561||1990|
|600 Las Colinas||600 East Las Colinas Blvd, 75039||510,353||1982|
|Riverside Commons||5000 Riverside Drive, 75039||460,297||1986|
|8675, 8701-8711 Freeport Pkwy & 8901 Esters Blvd||8701 Freeport Pkwy, 75063||458,338||1991|
|125 East John Carpenter Fwy||125 East John W. Carpenter Fwy, 75062||442,003||1981|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|Cypress Waters - CoreLogic Headquarters||3001 Hackberry Road, 75063||327,183||2017|
|1915 Hurd Drive||1915 Hurd Drive, 75038||322,590||2017|
|Cypress Waters - 9111 Cypress Waters Blvd||9111 Cypress Waters Blvd, 75019||217,000||2017|
|Connection Park II||4795 Regent Blvd, 75063||160,638||2017|
|Cypress Waters - 7-Eleven Headquarters||3200 Hackberry Road, 75063||325,000||2016|
|9001 Cypress Waters Blvd||9001 Cypress Waters Blvd, 75063||215,000||2016|
|Connection Park I||4851 Regent Blvd, 75063||141,219||2016|
|8951 Cypress Waters Blvd||8951 Cypress Waters Blvd, 75063||182,460||2013|
|8950 Cypress Waters Blvd||8950 Cypress Waters Blvd, 75063||175,585||2013|
|8840 Cypress Waters Blvd||8840 Cypress Waters Blvd, 75063||165,000||2013|
Irving, TX Green Office Space
A survey of the top 30 major markets in the U.S. has shown that over the past 12 years the percentage of energy efficient office space in the U.S. has increased from just under 5% in 2005 to 38% by mid-2017.
While Irving itself hasn't made the list, the Dallas-Fort Worth metroplex ranks 17 th for green office buildings larger than 50,000 square feet. Within the metro area over 3% of these large office properties are LEED certified, over 10% are Energy Star Certified, and more than 12% are considered to be green buildings.
That's not to say that Irving isn't making its contribution to energy efficient office space. With over 400,000 square feet of space, The Point at Las Colinas office building is an excellent example of green office space in Irving. Located at 300 East John W. Carpenter Freeway in the Las Colinas office submarket, this Class A property boasts a LEED Green Building certification.
Irving, TX's Top Office-Using Sectors
The Class A office space and commercial real estate market in Irving is driven by a wide variety of business and industry, including high-technology, energy, and manufacturing.
- High-Technology – Verizon, Aegis Communications, Nokia, NEC Corporation of America, and Microsoft are just a few of the many companies that create demand for white-collar office use in Irving.
- Energy – Companies such as ExxonMobil, Energy Transfer Equity, and Vistra Energy are among the top office-using companies in the metropolitan area.
- Manufacturing – Commercial Metals, Fluor Corporation, NCH Corporation, and Southern Star Concrete are some of the many manufacturing companies headquartered in Irving.
- Corporate Offices – Among the numerous corporate office users in Irving are Caliber Home Loans, Envoy Air, Kimberly-Clark, Celanese Corporation, and LXI Enterprise Storage.
- Total Population228,776
- Male Population(49.4 %) 113,074
- Female Population(50.6 %) 115,702
- Median Age31.90
- Average Household Income$71,922
- Median Household Income$52,154
- Median Income Under 25$33,151
- Median Income 25-44$54,793
- Median Income 45-64$58,542
- Median Income Over 65$41,241
- Arts District Demographics
- Coppell Demographics
- Cottonwood Valley Demographics
- Espanita - Timberlake Demographics
- Hospital District Demographics
- International Airport Demographics
- Irving Heights Demographics
- Irving Lake Demographics
- Lamar - Brown Demographics
- Las Colinas Demographics
- Pecan Estates Demographics
- Plymouth Park - Sherwood Forest Demographics
- Townlake Demographics
- Trinity Oaks Demographics
- Valley Ranch Demographics
The past few decades have seen commercial real estate become the fourth asset class, joining stocks, bonds, and cash on the radar of institutional investors. A 2015 NAIOP analysis set out to backtrack the path of CRE from alternative investment status to trustworthy portfolio asset, while provid...
Looking to Relocate Your Business? Phoenix is Your Best Bet
November 01, 2017
Amazon’s search for a new home has stirred up city officials and developers across the country, and 238 applicants across North America have expressed interest in housing the company’s next headquarters. Of course, the retail giant has a few requirements: the chosen metropolitan area...
Top 50 Cities for Industrial Construction in the Past Decade
September 21, 2017
It’s been quite a fruitful year so far for industrial real estate in the U.S. According to the National Real Estate Investor, total industrial sales are expected to exceed 2016 levels this year, marking the second-best volume in 10 years. Large portfolio deals are also making a comeback, a...