Dallas CBD Commercial Real Estate Market
The Dallas CBD is the metro’s primary office node, but the submarket has struggled for some time. Its vacancy rate has been among the highest in the metroplex for decades because its inventory contains a significant percentage of older towers that are not competitive with new assets in other prominent office submarkets, such as Uptown/Turtle Creek and Upper Tollway/West Plano. However, the submarket’s low rents, transit amenities, and central location have helped keep a core group of tenants rooted here, and fundamentals have improved in recent years.
Early in this cycle, millions of square feet of obsolete inventory were redeveloped into alternative uses, such as multifamily, hotel, as well as retail projects. Those conversions not only buoyed CBD office fundamentals, but they also helped the submarket take steps to become a true live/work/play environment. Many older assets in the CBD have either undergone or are undergoing major renovations and adding amenities like parking to remain competitive with newer properties in the Arts District or Uptown.
Property types are as follows:
Office 144 Buildings/33.8 MSF
Warehouse 2 Buildings/246,994 SF
Medical 1 Buildings/178 KSF
If you would like building specific information fill in our Free Dallas CBD Commercial Space Report and submit it to us. We will respond quickly with valuable building information that you can use to locate your Dallas CBD commercial space.
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