Southwest Dallas Commercial Real Estate Market
Southwest Dallas includes some gentrifying areas near the Dallas CBD as well as many southern Dallas suburbs that are collectively referred to as Best Southwest to improve cooperation between the cities. Office development has never taken off here, even in the areas adjacent to the CBD.
However, there is potential for growth in the submarket. Local developers such as Matthews Southwest, Hoque Global, and Buzzworks Properties continue to invest in the Cedars, and West Dallas steadily evolves into a live/play environment. Furthermore, if the Dallas-to-Houston high-speed rail project ever comes to fruition, the area surrounding the station (expected to be in the Cedars) would be ripe for office development.
The southern part of the submarket, part of the Redbird Mall will be converted into office space, which could complete by 2020.
Vacancies in Southwest Dallas are near all-time lows, tracking well below the Dallas market average. Despite a recent slowdown, rent growth has generally outperformed the metro average over the past few years. Despite promising future trends, the submarket’s upside is limited by its lack of desirability and class A and B product, at least in the near term.
Property types are as follows:
Office 595 Buildings/6.3 MSF
Warehouse 540 Buildings/26.6 MSF
Medical 31 Buildings/527 KSF
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