Commercial real estate is a highly competitive business depending on local markets. Today’s real estate market points to Dallas/Fort Worth as one of the most lucrative. The success of any commercial market depends on many factors. According to most analysts, Dallas/Fort Worth is the place to be for any company in need of commercial office space in 2015 and beyond. This means there will be increased competition for great spaces available for any company wanting that perfect commercial office lease - for a lot of great reasons.
The Business Appeal of Dallas/Fort Worth
What are some of the great reasons why a business might consider locating within the Dallas/Fort Worth area? Texas has no state income tax, an overall lower cost of living, a nice environment for both living and working, and is so close to Houston that has also experienced increasing commercial growth for years. Employee retention in the area is increasing, which indicates people like the Dallas/Fort Worth area. This is a strong factor for any company deciding whether to locate there.
Since the 2008 recession, this area has experienced significant relocation growth, helping the local job market. This has also helped many companies find a great home and created a diverse employment market, bringing many skills to the area. The Dallas business area offers many of the things both people and companies look for when relocating. This includes things such as: a major airport; the ability to walk to local grocery stores and restaurants; good housing choices; and a high standard of living.
Current Forecasts in Corporate Expansion and Commercial Real Estate
Dallas currently ranks second to Houston in completed new commercial office space. This growth is prompted by the amenities referenced above. Based on this expansion, commercial real estate brokers feel things will only continue to improve in the Dallas/Fort Worth locale. This makes it a prime choice for any company looking for the most advantageous commercial real estate arrangements. With the largest civilian workforce in the state of Texas, Dallas/Fort Worth has the benefit of a fresh influx of graduates from area colleges as well as major state-wide universities. They also have a stable business market with insurance, healthcare financial services, and IT-related services, as these industries are not severely affected by a soft business market, unlike the energy companies in Houston. The planned relocation of major corporations, such as Toyota and Liberty Mutual, will only serve to further increase the desirability of the area for job seekers and other businesses.
One thing the area is in need of is more parking as well as more 100,000+ square feet commercial office space options to handle all the new demand - which is all on the way to being built. The strong business and commercial real estate market has helped pave the way for the planning of over 5,000,000 square feet of new buildings set to be ready by 2016 - which should help keep the market flowing.
With so much going for it, any business in search of the best place to locate should consider the Dallas/Fort Worth area. The booming commercial real estate market shows no signs of slowing. Diversity, combined with a high quality of living, promises that a company choosing to sign a commercial office lease in Dallas/Fort Worth will have the best provisions, along with the best employees, to create business success!