About Dallas Office Space
Whatever nickname you use for Dallas, it’s the “bigger is better” attitude that defines Dallas, even in commercial real estate. Dallas has honestly earned the name “Big D” when it comes to diversity in business, as well as office space to house its businesses. Dallas has the distinction of being the 4th largest employment center and has the 3rd largest concentration of Fortune 500 companies, while being only the 9th largest city in the U.S. The Dallas-Fort Worth International Airport (DFW) is the 6th busiest airport in the world. Dallas’ business is business.
Dallas is known for shopping and has more shopping opportunities than any other city in the United States. Dallas is home to Neiman Marcus department store, which puts out an annual Christmas catalog with outrageously expensive items. Luckily, Forbes Magazine (2011) reports that Dallas is home to 17 billionaires so there are plenty of customers for mail-order private islands.
Dallas was incorporated in 1856, but the city expanded rapidly when the railroad arrived in 1873. Early on, Dallas was a trading hub for oil and cotton, and at one time was supplying one-third of the nation’s cotton. Today, the area economy is primarily based on oil and gas, energy trading, banking, financial services, telecommunications, high-tech, food manufacturing, healthcare, biotechnology, transportation and logistics.
Dallas isn’t all work and no play either. Despite the fact that Dallas’ climate is brutally hot in the summer, the outdoor life is abundant, including the 10,000-acre Trinity River Greenbelt Park, the 66-acre Dallas Arboretum, White Rock Lake, where inner city residents walk, jog, bike and boat. Three man-made lakes also provide outdoor recreation - Bachman Lake, Lake Ray Hubbard and Mountain Creek Lake. And, Dallas is home to well-heeled philanthropists who support world-class museums, art galleries, music, performing arts and theatre venues.
Dallas is also home to the Dallas Cowboys, known as America’s Team, hosts the State Fair of Texas every year, is home to the iconic Southfork Ranch from the 1980’s TV show ‘Dallas’, and has the dubious distinction of being the place where President John F. Kennedy was assassinated in 1963.
Business Space in Dallas
Dallas ranks 13th on Forbes (2013) list of “Best Places for Business and Careers.” And it is the third most popular destination for business travel in the U.S. Dallas is also one of the most popular convention destinations in the country with three large convention venues.
The Dallas area is home to 20 Fortune 500 companies, including some iconic brands like American Airlines, AT&T, Texas Instruments, Brinker International, Chuck E. Cheeses, Dr Pepper, ExxonMobil, Frito-Lay, Dean Foods, Fossil, JC Penney, Mary Kay Cosmetics, Neiman Marcus, Radio Shack, Southwest Airlines, Zales, Blockbuster, Tenet Healthcare, 7-Eleven and the Federal Reserve.
There are three distinct business districts in Dallas to consider when renting office space – Downtown, North Dallas and the Telecom Corridor.
Downtown is categorized by skyscrapers with one in particular that catches the eye – Reunion Tower – it’s lighted lollipop appearance can be seen for miles. Other unique features downtown are the JFK Memorial, the Meyerson Symphony Center, Fountain Place and Dallas City Hall.
The central business district in Dallas is downtown. Dallas’ Downtown District has expanded and swallowed up surrounding neighborhoods, turning them into viable business areas. The downtown area includes the Arts District, with theatres, performing arts, retail and a new opera house; Deep Ellum, with restaurants and music destinations; Victory Park, with office space, upscale hotels and the American Airline Center; Uptown which is known for upscale shopping and dining; Lower Oak Lawn with historical homes and businesses; and the Trinity River District which is being developed as a recreation and entertainment destination that will also include high-rise hotels.
North Dallas contains tons of upscale shopping venues and many of the Fortune 500 companies, including Frito-Lay, Dr Pepper, Neiman Marcus, JC Penney, McAfee Software and KFC/Pizza Hut.
Telecom Corridor (Richardson) is the heart of the telecommunications industry and is often called Silicon Prairie. Many well-known names make this area home, including Texas Instruments, Nortel, Nokia, Cisco Systems, Sprint, Verizon and Alcatel Lucent.
Facts about Dallas:
Dallas is 386 square miles in area, and the Dallas Metroplex (Dallas-Ft Worth-Arlington) is spread across five counties (Dallas, Denton, Collin, Rockwall and Kaufman).
Dallas sits at 430 feet above sea level and is surrounded by what used to be grasslands, so the wind is a constant presence even on the hottest summer days.
It is the 9th largest city in the U.S., with a population of more than 1.2 million people according to the 2012 Census. And, the Dallas Metroplex (Dallas-Ft Worth-Arlington) has 6.7 million people!
The average low temperature in January is 47° F and the average high temperature in July is 80° F, with an average of twenty days over 100° F each year.
It rains about 38 inches a year, and snows occasionally with about 2 inches of snow a year.
Dallas is located in Tornado Alley and on average gets four tornado warnings a year, some of which may turn into full-blown tornadoes.
Dallas is a young and prosperous city with the median age at 32 years old, and the per capita income is $26,185.
The racial mix in Dallas, according to the 2010 Census, is 29% Caucasian, 25% African American, 42% Hispanic, 3% Asian and 1% American Indian. The Jewish population is the largest in Texas, and half of Dallas' population was born outside of Texas, and one in six was born outside of the U.S.