Stemmons Freeway Commercial Real Estate Market
The Stemmons Freeway Submarket stretches from the CBD up to the LBJ Freeway and Farmers Branch. Most major tenants are located in the southern portion of the submarket, near the Southwestern Medical Center.
Medical/healthcare firms account for a significant portion of the submarket’s tenant base, as do state and federal agencies. Nearly all new supply comes in the form of build-to-suits. For example, Southwest Airlines completed a 414,000-SF office building in this submarket in 18Q2.
This submarket boasts several transit amenities. Aside from the Stemmons Freeway itself, DART provides rail service at the Southwestern Medical Center that takes passengers northwest to the D/FW International Airport or south to Downtown Dallas. Dallas Love Field Airport, which is located within the submarket’s boundaries, is the metroplex’s second-largest airport behind D/FW. The airport has seen passenger traffic double since the repeal of the Wright Amendment in 2014, increasing the viability of development nearby.
Despite older, low-quality inventory and structurally high vacancies, there is potential for growth here. KDC’s West Love mixed-use development is helping breathe life into the area of the submarket just south of Love Field and the Design District is well on its way to becoming a true live/work/play environment, spurred by multifamily development and major investments from Dunhill Partners and other developers.
Property types are as follows:
Office 282 Buildings/15.8 MSF
Industrial 820 Buildings/51.8 MSF
Medical 28 Buildings/2.5 MSF
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