Top Five Dallas Office Space Areas for Your Small Business
The neighborhood matters as much as the building. Five Dallas-area submarkets worth considering for your small business's next office.
For a startup or small business, finding the right location for your office space can make all the difference in your company's operations. The right location assists in shaping its culture and identity, and depending on the industry, its client base. Most of us tend to think in terms of office buildings when we think of commercial real estate, but the neighborhood and tenant mix surrounding a startup or small business can end up being even more important than the space itself. Here are the top areas of the Dallas office space market to consider for your small business.
Uptown offers the most active, social scene with strong coworking options. LBJ offers more affordable rates and better parking. Plano is a popular, growing suburb close to major corporate employers. Irving offers affordable rates with strong growth momentum. Preston Center is pricier, but offers the most central, convenient location in the city.
Uptown
If you are familiar with Dallas, you have most likely noticed the growth of Uptown. The area is a great example of the growing idea of new urbanism, with significant multifamily, retail, and office space development over the last decade. Aside from abundant culture and residential growth, it is also the most action-packed area of Dallas for small businesses and startups. Coworking properties like WeWork and Spaces have made the area home, offering vibrant hubs for businesses to meet and office together.
LBJ
Located along I-635, LBJ is a more traditional, less centralized market than other commercial real estate submarkets in Dallas; however, it boasts lower office rental rates, more options due to higher vacancy rates, and better accessibility. Although prices are typically more affordable, the completion of the LBJ Express has brought rising tenant rates to the area since 2017. Whether you have one employee or one hundred, a property in the LBJ market can accommodate your needs, especially if you need a lot of parking.
Plano
To some, the inner core of Dallas can be overwhelming. Plano, a northern suburb, is a great alternative to its parent city. With an ever-expanding population and Toyota's North American headquarters, Plano has become a popular destination for small businesses looking to grow while remaining close to home. With constant new development, Plano offers a wide variety of options.
Irving
A neighbor of Dallas to the west, Irving is a safe bet for your small business. The city's affordable rates allow local industries to headquarter in its thriving economy while still maintaining financial freedom. Like Plano, Irving has continued growing rapidly, with real momentum from a major KDC mixed-use development announced in the area in 2017.
Preston Center
Positioned just north of the Park Cities, Preston Center is a pricier option than many suburban areas; however, its location is thought to be the best in Dallas by many. Due to the prominent tenant mix and central location, Preston Center commands higher rental rates, but immediate convenience to some of Dallas's best restaurants and retail makes this a great location for the busy entrepreneur.
Every business is different, so be sure to browse the market and get advice from an experienced commercial real estate professional.
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