Commercial Real Estate Is Changing Hands in Dallas
When companies start scooping up commercial real estate, jobs are soon to follow, and that means people are looking to make residential real estate moves. In the Dallas/Fort Worth commercial real estate market, despite going through some changes of its own, there are still many signs of economic momentum.
According to the Dallas Business Journal, several companies have elected to renew their current leases. Arizona Tile LLC will remain in its 100,398 square foot space, while others like CKS Packaging Inc. and Istation have also elected to renew their leases on their 50,000+ square foot properties. That’s just to name a few.
Some companies are even adding jobs. Another article in the Dallas-based business publication pointed out that aerospace company and defense contractor Lockheed Martin has actually added an impressive 1,750 jobs to North Texas since the COVID-19 pandemic started.
Office space, on the other hand, is a different story. With many companies electing to allow their employees to work remotely, surplus office space is on the rise. However, companies that still choose to operate in physical space are making moves. Local law firm Frost Brown Todd just took the entire ninth floor at their uptown Rosewood Court location.
Regardless, the cogs are still moving in the commercial world and that’s a great sign for real estate professionals. In fact, there’s likely no better time to become an agent. As more companies move to a remote-work model, more people will likely:
- Move to areas where they can spread out
- Get more house for their money
- Be closer to family
- Move closer to their spouse’s work
- Move to where they actually want to be
In other words, where there are people looking to move there’s an opportunity.
A while back, we wrote about how Dallas/Fort Worth is poised for a quick recovery, and the fact that companies keep making moves in commercial real estate means we’re not the only ones who think so. So the only question that remains is: where will you be when things start picking up?
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