Dallas, the commercial and cultural hub of north Texas, is home to more than 1.3 million residents and a workforce of approximately 3.4 million people. Dallas’ diverse economy includes 21 Fortune 500 companies and 300 corporate headquarters that each employ more than 1,000 people globally. Seven of the Forbes’ 2016 list of the largest privately held companies in the nation are located in the north Texas area.
The area’s educated workforce, where 32 percent of regional workers have at least a college degree, continues to draw business to the region, according to the City of Dallas Office of Economic Development. Dallas has particularly high concentrations of businesses in the management, finance, computing, architecture, engineering, sciences, education and health services fields. Dallas also boasts an attractive quality of life, with an affordable cost of living, no personal income tax, and highly rated public schools.
Commercial real estate in Dallas is currently on a growth trajectory due to consistent job gains of more than 100,000 jobs annually during the last few years, or a 25 percent increase since 2010, according to real estate professional services firm JLL. Job growth is occurring across all major industries, which has resulted in an increase in commercial real estate construction. Real estate services firm Cushman & Wakefield reported that the Dallas commercial real estate market is the country’s third strongest investment market behind Manhattan and Los Angeles, having posted record commercial property sales transaction volume of $20.5 billion in 2016.
Dallas’ strong labor market, population and job growth, and stable economy indicate that the commercial real estate industry in Dallas will continue to outpace other markets in the country for the foreseeable future.
About Fidelity National Financial
Fidelity National Financial, Inc. (FNF) is currently ranked #375 on the 2020 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our Dallas-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.
Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.
*"FORTUNE®" and "FORTUNE 500®" are registered trademarks of Time Inc. Time Inc. is not affiliated with, and does not endorse the products or services of, Fidelity National Financial, its subsidiaries, or affiliates.