Why Businesses Are Seeking Offices for Rent in Dallas

With a business-friendly, tech-driven environment, Dallas is a magnet for companies looking to scale. Forbes has ranked the city the second-best destination in the U.S. for businesses and careers.

Organizations of various sizes and industries set up here, making offices for rent in Dallas popular.

Here, we’ll explore seven reasons why businesses are seeking offices for rent in Dallas, why the city is an ideal business location for technology organizations, and some of the top districts and office listings to consider for your business.

7 reasons businesses are choosing offices for rent in Dallas

Numerous large companies, attracted by the appealing options for office rentals in Dallas, have relocated here and established their base. Prominent among these are corporations like AT&T, Jacobs, and Goldman Sachs, all of which now consider the city their home.

These companies enjoy the city’s impressive tech world and entrepreneurial way of life. They also have access to cost-effective office spaces for lease in Dallas.

Large corporations are not the only entities drawn to the available office space for rent in Dallas. Small businesses also find this city to be an advantageous location. They constitute nearly 80% of the trading community and employ almost 40% of the city’s workforce.

Companies of all sizes recruit from the 15 major universities and more than 30 learning institutions that Dallas offers. By extension, the city’s talent pool is full of professionals who can bring success to future-facing companies.

Here are seven of the biggest reasons why businesses are choosing offices for rent in Dallas.

1. Booming tech ecosystem

Dallas has experienced substantial growth in its tech industry over the years, solidifying its position as a noteworthy hub for technological innovation and enterprise within the United States.

Dallas-Fort Worth’s technology labor pool increased by 28.1% between 2017 and 2022 alone. Many companies from states like New York and California have moved to Dallas to leverage its tech ecosystem.

These companies include the:

● Telecom company Frontier Communications

● Global e-commerce leader Amazon

● Infrastructure consulting firm AECOM

● International commercial real estate services company CBRE Group

Plus, in 2021, 13 companies in the Dallas Area appeared in Deloitte’s Technology Fast 500 List.

2. Resilient, affordable office space market

Dallas enjoys the second-most active commercial real estate market in the nation. As such, businesses have a variety of workspaces to choose from in the city.

Offices for rent in Dallas are also more affordable than those in other technological hubs. The average price here is around $30.00 per square foot per year, making it a financially viable choice for a range of businesses.

3. Innovation and research

Two of the biggest influences and drivers of innovation and research in Dallas are the:

1. Governor’s University Research Initiative

2. Cancer Prevention and Research Institute of Texas (CPRIT)

The Governor’s University Research Initiative

This initiative allows academic institutions in Texas to develop expertise in key research areas. The matching grant program also allows students to study degrees in STEM subjects.

The Cancer Prevention and Research Institute of Texas (CPRIT)

This institute is the biggest state investment in cancer research in U.S. history.

CPRIT’s 20-year, $6 billion initiative welcomes applications for grants to fund a huge range of projects. This includes product development and evidence-based cancer prevention programs and services in Texas.

4. Well-connected city

Dallas is a well-connected city with a variety of transport links. With public systems like the Dallas Area Rapid Transit (DART) service, commutes are quick and easy for those with offices in Dallas.

It’s also possible to fly anywhere in the U.S. mainland within four hours from Dallas Fort Worth (DFW) International Airport. This airport offers more non-stop domestic flights than any other in the U.S.

Dallas Love Field and Perot Field Fort Worth Alliance Airports also offer additional flights to other major cities.

5. Business-friendly policies and incentive programs

While business owners need to pay state income tax in most cities, this isn’t the case in Dallas. On top of these tax benefits, there are several local incentive programs to help businesses expand or relocate.

Tax abatements

Tax abatements are agreements between taxpayers and taxing units. They exempt some or all of the increase in the value of property from taxation for up to 10 years.

Chapter 380/381 agreements

Chapter 380/381 agreements enable counties and municipalities to offer loans and grants. These fund economic development or other financial incentives.

The Skills Development Fund

The Skills Development Fund partners with businesses and community or technical colleges. Partners receive customized job training. Partaking businesses must pay wages that equal or exceed the local market’s current wages.

The Texas Enterprise Fund

The Texas Enterprise Fund is one of the nation’s biggest deal-closing funds. Businesses can use the cash grant as a financial incentive for projects that drive job creation and capital investment. They just need a single site in Texas to be eligible.

R&D tax credit

Businesses can access R&D tax credit, a state sales tax exemption, for property that they purchase or store.

State-wide programs

There are also state-wide programs that encourage businesses to relocate to Texas. These include:

● Texas Enterprise

● Workforce Development

● Small Business Enterprise

● Events Trust

● Product Development

6. Economic diversity in a range of markets

Businesses in virtually all sectors find success in Dallas. Some of the biggest industries here include:

● Biotechnology

● Healthcare

● Oil

● Aviation

● Financial services

● Defense

● Logistics

In particular, startups thrive in Dallas. Notable ones include logistics company PICKUP and oncology-focused company Lantern Pharma. There’s also the software company StackPath.

Prominent large companies also operate in the area. These companies include Southwest Airlines and Fortune 500 healthcare giant McKesson Corporation. Local Fortune 1000 corporations include gas company ExxonMobil and electronics retailer GameStop.

7. Entrepreneurial ecosystem

Dallas has a strong and supportive business community. This can be especially helpful for startups and small businesses with an office rental in Dallas. There are also funding opportunities to help companies launch in the area with the capital they need.

Three initiatives that support entrepreneurship in Dallas include:

1. The Dallas Entrepreneur Center (DEC) Network

2. The Smart Cities Initiative

3. The Dallas Regional Chamber’s (DRC’s) Innovation and Startup Community

The Dallas Entrepreneur Center Network

The DEC Network provides startups and businesses with various forms of support. This includes workspaces, connections, and funding.

The Smart Cities Initiative

Dallas is one of 25 cities partaking in the federally-funded Smart Cities Initiative. This has seen the city adopt a collaborative tech-fuelled strategy to re-energize the wider region. It has invested more than $160 million in research and tech-first collaborations to meet local needs.

It also led to the creation of the Smart Dallas Vision. This sets out plans for an interconnected, streamlined future for the Dallas community. With economic and tech growth as current focuses.

The Dallas Regional Chamber’s Innovation and Startup Community

The DRC’s Innovation and Startup Community supports innovation across the Dallas region. It does so by connecting entrepreneurs, researchers, and pioneers.

The community also markets Dallas as a city of innovation. Supporting the development of emerging technologies in the area.

Plus, it links startups with resources, capital, and investors who can support their growth.

Rent office space in Dallas: Where tech innovation thrives

Locating in Dallas is a no-brainer for businesses in the technology space. The city appeared second in the CompTIA 2020 Tech Town Index, following Austin as the most tech-ready workforce in the U.S.

In 2022, Dallas listed the second-largest number of technology jobs in the U.S. Technology employment rose by 4.4%. CompTIA predicts this rate will rise by another 3.8% in 2023.

Dallas’ position at the forefront of Texas’ tech innovation should continue to strengthen. In 2023, the Advanced Research Projects Agency for Health (ARPA-H) launched a health innovation network.

This will drive technological breakthroughs in science and medicine. Three ARPA-H regional hubs will anchor the network. Of these, the Customer Experience hub will operate from Dallas’ Pegasus Park.

Top business districts in Dallas

Here are seven of the top business districts in Dallas. Each suits organizations of different sizes and industries. If your company is seeking offices for rent in Dallas, consider these regions.

Uptown Dallas

Uptown Dallas’ urban way of life attracts both early and established businesses. An upscale area, Uptown may feel out of reach for some startups. However, there are plenty of affordable office spaces for rent in North Dallas.

Uptown’s buzzing entertainment scene will appeal to young professionals. Home to several tech conferences and meetups, companies in this sector find bases here, too.

Businesses launching here can position themselves alongside notable companies. These companies include the management consulting companies Bain & Company and Boston Consulting Group.

Downtown

Downtown offers a cosmopolitan neighborhood at the heart of Dallas’ business center. Many of the city’s economic initiatives run from here. As a result, it's ideal for corporate, law, and financial institutions.

Many of the popular office spaces for rent in Downtown Dallas are in Turtle Creek and the Central Business District. These lively areas house a huge range of dining and entertainment options to complement corporate life.

Plano

Plano is a thriving business suburb near Dallas. The area offers record-low unemployment rates and a workforce of more than four million. With a diverse economy, the locale supports a variety of businesses and industries, including:

● Trade

● Business services

● Leisure

● Manufacturing

● Transportation

● Education

● Technology

● Finance

● Healthcare

Addison

Addison, a city near Dallas, accommodates a high concentration of businesses. These companies can take advantage of Addison’s knowledgeable workforce and entrepreneurial resources. This has turned the area into a leading district for innovative technologies.

Richardson

Richardson is part of the Dallas-Fort Worth Metroplex, one of the world’s brightest economic regions.

A vibrant business location, Richardson attracts many technology professionals. It’s also home to the University of Texas, which produces a variety of young talent. As such, numerous technology companies and startups locate themselves here.

Deep Ellum

Deep Ellum is Dallas’ home of arts and entertainment. Many of its office spaces reflect the neighborhood’s diversity and range of cultures. By extension, creative businesses and startups often base themselves here.

Farmers' Branch

In 2022, WalletHub ranked Farmers Branch as one of Texas’ best small cities for launching a company.

It already accommodates more than 4,000 companies and 250 corporate headquarters. So you’ll be part of a thriving community here. Its 28 parks and safe neighborhoods also make for an enjoyable, relaxed community.

Offices for rent in Dallas

These are seven of our best offices for rent in Dallas. Each offers a suite of unique benefits for a range of businesses.

Lake Highlands Tower

The 15-story Lake Highlands Tower welcomes businesses of all sizes. All these companies benefit from the spacious workspaces and on-site amenities.

Professionals based here can enjoy the natural surroundings of this scenic location. Beyond these, the LBJ Freeway is easy to reach, making for accessible commutes.

Highlights include:

● On-site barber shop

● On-site dry cleaners

● On-site coffee bar and sandwich shop

● Terrace area

● Break-out areas

Information about Lake Highlands Tower

● Location: 9330 LBJ Freeway, Dallas, TX, 75243

● Starting costs: Day offices start at $55 per day

● Opening hours: 24/7 for Private Offices and Dedicated Desks, reception hours