DALLAS-FORT WORTH: THE FASTEST-GROWING OFFICE MARKET

Dallas-Fort Worth (D-FW) has solidified its reputation as the fastest-growing office market in the nation. In 2019, the metroplex led the U.S. in office job growth, surpassing even major tech hubs like San Francisco and Seattle. According to CBRE, office employment in the Dallas region increased by an impressive 5.7% that year, outpacing other rapidly growing economies such as Houston and Charlotte, North Carolina. This trend is expected to persist into 2020, reinforcing North Texas as a major economic powerhouse.

Why is Dallas-Fort Worth Leading in Office Job Growth?

A key factor behind D-FW’s success is Texas’ business-friendly environment. The state’s low taxes, minimal regulations, and growing tech sector have attracted businesses and talent from across the country. The region appeals to a diverse demographic, from recent college graduates to top executives, due to its high quality of life, strong workforce, affordability, and central location.

Chelby Sanders, senior vice president at CBRE, noted that many out-of-state firms express surprise at the vibrancy of the Dallas market:

"We frequently hear from out-of-state companies, ‘Wow, I had no idea Dallas was this amazing!’”

Indeed, D-FW is increasingly being recognized as a dynamic urban hub, offering a thriving nightlife, a rich cultural scene, and a variety of entertainment options that cater to all preferences. The metroplex is no longer just an oil and finance town—it’s evolving into a national leader in office employment, technology, and corporate expansion.

The Impact on Real Estate Development

With the continued influx of businesses and professionals, the demand for office space in North Texas is soaring. Developers are responding by constructing over 5.5 million square feet of new office space across the region. Expanding and relocating office tenants net-leased almost 4 million square feet of office space in 2019 alone—one of the highest figures in the past decade.

Ian Anderson, CBRE’s head of office research for the Americas, emphasized that Texas’ momentum shows no signs of slowing:

"Technology, talent, and low taxes continue to strengthen Texas' ascendancy as an unstoppable, leading force in the U.S. economy. 2020 will be another year in which businesses and individuals from around the country flock to the Lone Star State, leaving the rest of the country in awe of the growth in Dallas, Houston, and Austin."

Texas Dominates U.S. Employment Growth Rankings

The data speaks for itself:

In 2019, D-FW was the fastest-growing job market in the U.S., adding 127,000 jobs by November.

Texas cities rank among the top five employment growth hubs in the country.

Austin is projected to lead in 2020 with a 2.6% job growth rate.

Dallas ranks third, with a forecasted 2.1% increase in office employment, just behind San Francisco (2.5%).

Houston (1.9%) and Orlando (1.7%) complete the top five.

According to CBRE's research, technology, commercial and management services, and legal sectors are expected to drive the highest percentage increases in office-based employment. Notably, Texas and other Southern metro areas continue to outpace the rest of the nation, largely due to their lower cost of living and business-friendly policies.

Consumer Confidence and Economic Strength

Another significant factor fueling D-FW’s office boom is strong consumer confidence and spending. Supported by:

A robust stock market

High housing prices

A steady influx of new residents

These elements create a stable foundation for continued job growth and rising demand for office space. As a result, commercial leasing activity is expected to remain strong, with office rental rates continuing to climb in major U.S. cities, particularly in Texas.

Looking Ahead: The Future of the Dallas-Fort Worth Office Market

With major corporations relocating headquarters to North Texas, the rise of tech-driven employment, and expanding commercial developments, Dallas-Fort Worth is on track to sustain its leading position in office job growth. The region's ability to attract top-tier talent and corporate investments ensures that it will remain one of the most sought-after business destinations in the United States.

For businesses and investors, the message is clear: Dallas-Fort Worth is the place to be.