So why is Downtown Dallas the best submarket in town to lease space for your start up? There are many reasons but below are a few key attributes:
-Live, work, play: If employees choose, they can likely live walking distance to their office. The Dallas CBD is no longer an area where people come to work and leave by 5pm. The residential market in the area is booming with occupancy rates above 95% and a number of projects in the works. Retail is getting better by the day and that will only continue as more people move into the area to live and to work.
-Access to Public Transit: Downtown Dallas is served by both the DART rail and bus systems. With progressive companies offering incentives for taking public transit, Downtown is easy to access on these systems.
-Buildings with Above Average Amenities: Food courts, workout facilities/gyms, shared conference areas, tenant lounges. Downtown office buildings have more extensive and abundant amenities and services .
-Low Rental Rates: Other than the Stemmons Corridor, areas of Downtown, on average, offer some of the lowest rental rates in Dallas. With office rents often being the second largest expense behind personnel, Startups usually need affordable space.
-Creative Buildings: No other submarket in Dallas has as many “creative” buildings. In North Dallas or Las Colinas, for example, tenants must focus on making their space feel “creative” in a typical office building. In Downtown, you will find creative office space in converted old warehouses and car dealerships, just check Eastern Downtown near the Farmer’s Market or the West End.
If you or anyone you know is interested in evaluating the office market opportunities in Downtown, please do not hesitate to contact me.