Huge corporate campuses are being built in the northern suburbs, and Uptown office buildings are securing record-breaking rental rates. But the biggest commercial real estate story in Dallas may be the revitalization of the city’s urban core, where a staggering number of redevelopment projects are setting the stage for a major transformation.
Activity is focused on the city’s center, the area between Pacific Avenue and Main, Commerce, and Elm streets. Sales volume in the core is “off the charts,” says Jon Altschuler, partner at Altschuler and Co. Even more noticeable, he says, are the capital improvements new property owners are making. “When I step out of Thanksgiving Tower and head in either direction, it feels like I should be wearing a hard hat,” he says. “There is so much construction activity. Welding, banging, building—you can tell it’s going to be a different streetscape in 18 months.”