Crexi Reshapes Dallas Commercial Real Estate

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Principals, tenants, brokers, and landlords harness the power of Crexi’s commercial real estate tools to succeed in Dallas. On a nationwide basis, investors and businesses look at Dallas as a thriving market with stable fundamentals, promising growth, and attractive cap rates. 

Brokers, buyers, and tenants utilize Crexi’s commercial real estate tools to thrive in the Dallas market. Crexi equips interested parties with in-depth market research, a growing inventory of properties, and fast access to Dallas-specializing brokers.

Actively seeking principals and tenants encompass approximately 92% of Crexi’s online traffic, using the platform to pursue their next investment.

In Dallas, Fort Worth, and the surrounding cities, brokers harness Crexi’s listing, lead management, and marketing tools to win deals. The simple, robust marketplace allows Dallas commercial brokers to directly connect with buyers and tenants who’ve already indicated an interest in the MSA.

As of this posting, Crexi’s tools have supported more than $300 billion nationally in property transactions. Since its 2016 launch, the platform has marketed properties totaling more than $1.3 trillion in value.

Crexi proudly serves Dallas, Fort Worth, Arlington, Plano, and the Metroplex’s entirety as the fastest-growing online commercial real estate marketplace.

The State of Commercial Real Estate in Dallas

Booming population growth, a thriving job market, and a large population of millennials are helping to keep the demand for commercial real estate in Dallas solid and steady. 

The office, multifamily, industrial, and retail sectors in Dallas/Fort Worth are witnessing vigorous leasing activity. Net absorption of retail space in the metro area exceeded 1 million square feet through mid-year, with existing home inventories plummeting to just one month of supply. 

Nicknamed the Metroplex, Big D, and DFW, the Dallas/Fort Worth metropolitan area is the cultural and economic hub of North Texas. 

The diverse economy is based on various sectors, including professional and financial services, telecommunications and technology, healthcare and medical research, and energy and transportation. Dallas/Fort Worth is home to 22 Fortune 500 companies and is recognized as one of the best areas for STEM professionals in the US.

Dallas Regional Breakdown

The Dallas/Fort Worth (DFW) metropolitan area led the nation in net population growth during the pandemic. The metro area added nearly 120,000 new residents, with suburban Collin County adding the most people per county in the Metroplex:

  • Dallas is home to about 1.4 million residents, with over 7.5 million people living in the Dallas-Fort Worth-Arlington metropolitan area.
  • The population of DFW grew by 0.44% year-over-year, with no other MSA in the country growing as much as the Dallas metropolitan area.
  • Dallas/Fort Worth is the most populous metro area in Texas and the 4th most populous in the US.
  • Over the last year, Dallas property inventory on Crexi increased across asset classes, with land and office assets making the most gains in available property for sale.
  • Metropolitan Dallas encompasses 13 counties, including Collin, Dallas, Denton, and Tarrant counties, containing 9,286 square miles.
  • Principal cities in the Dallas/Fort Worth area include Arlington, Plano, Frisco, Irving, and Denton.
  • The median age in Dallas is 35.2 years, with 55% of the population between 20 and 59.

The Dallas Job Market

The State of Texas is expected to add over 800,000 new jobs by the 2021’s end, with DFW accounting for gains of about 250,000 jobs. Employment in the Dallas/Fort Worth area grew by nearly 1%, with professional/business services and leisure and hospitality showing the fastest employment gains:

  • GDP of the Dallas-Fort Worth-Arlington MSA is nearly $524 billion and has grown by almost 62% over the past decade.
  • Employment growth in DFW was 1.0% last year, while median household incomes grew by 4.06% year-over-year.
  • The unemployment rate in Dallas-Fort Worth is 5.3% (May 2021).
  • Target industry sectors in DFW include company headquarters and business operations, IT services, logistics, energy, financial services, healthcare, medical research, telecommunications, and food manufacturing.
  • Dallas ranks #3 in global data center market size and is home to the 30-square-mile Telecom Corridor.
  • The largest employers in Dallas are Lockheed Martin, Texas Health Resources, Medical City Healthcare, Baylor Scott & White Health, and the University of Texas Southwestern Medical Center.
  • Southern Methodist University, University of North Texas, the University of Texas at Arlington, and the University of Texas at Dallas are four major colleges and universities in the Dallas metropolitan area.
  • Nearly 87% of Dallas residents are high school graduates or higher, while almost 37% hold a bachelor’s degree or an advanced degree.

Transportation infrastructure in Dallas includes:

  • Several mass transit systems.
  • Freight rail service.
  • Four major interstate highways.
  • Two commercial airports.

The Dallas/Fort Worth International airport is the 2nd largest airport in the country and covers more square miles than Manhattan.

Dallas Industrial Market

According to Cushman & Wakefield, the industrial market in Dallas/Fort Worth remained fiery through the most recent quarter. Net absorption of industrial space was at 13.3 million square feet (through Q2 2021), with vacancy rates declining and asking rents for industrial space in Dallas rising:

  • Total industrial inventory: 815,577,048 SF
  • Average asking rent: $5.61 per year, net
  • Vacancy rate: 6.8%
  • Absorption: 13,364,394 SF through Q2 2021
  • New construction: 6,593,995 SF delivered (Q2 2021) with 28,677,795 SF under construction
  • Largest industrial submarkets: Great Southwest, DFW Airport, South Dallas, Alliance

Discover Dallas industrial space for rent.

Dallas Office Market

Office-using jobs in the Dallas metro area grew by over 61,000 positions compared to the same quarter last year, helping to keep the average asking rent for office space in Dallas steady. Professional and business service jobs account for 61% of office employment in the Metroplex, totaling 1.1 million jobs as of June 2021:

  • Total office inventory: 242,880,868 SF
  • Average asking rents: $26.51 per SF per year, gross
  • Overall vacancy rate: 22.1%
  • Absorption: -2,853,791 SF (thru Q2 2021)
  • Leasing activity: 4,865,901 SF (thru Q2 2021)
  • New construction: 4,592,456 SF of office space under construction
  • Largest office submarkets: Las Colinas, Legacy/Frisco, Richardson/Plano, Far North Dallas, CBD Core

Discover Dallas office space for rent. 

Dallas Retail Market

Positive net absorption of retail space in the Dallas metropolitan area topped 1.4 million square feet in Q2 2021. The rebounding retail market in Dallas-Fort Worth is driven by a decrease in store closures and an increase in leasing velocity, with big-box leases totaling 1 million square feet since the beginning of 2021:

  • Total retail inventory: 306,020,431 SF
  • Average asking rent: $19.76 per SF per year, NNN
  • Overall vacancy rate: 7.4%
  • Net absorption: 1,034,643 SF (thru Q2 2021)
  • New construction: 1,207,295 SF delivered (Q2 2021) with 2,290,429 SF under construction
  • Largest retail submarkets: Lewisville, Central Plano, Garland, Southwest Dallas County

Discover Dallas retail space for rent.

Dallas Multifamily Market

Absorption and rental growth are increasing in the Dallas/Fort Worth multifamily market. Apartment rents in the Dallas metro area grew by 0.3% in the last quarter (Q1 2021), with the North and Northwest submarkets showing some of the strongest multifamily demand in Dallas:

  • Total housing units: 2,878,819
  • Renter occupied: 40%
  • Total multifamily units: 653,324
  • Average asking rent: $1.36 per RSF (rentable square foot)
  • Vacancy rate: 5.9%
  • New construction: 6,468 units delivered in Q1 2021, with 6,706 units currently under construction
  • Largest multifamily submarkets: Intown Dallas, Hurst/Euless/Bedford, Northeast Dallas, Far North Dallas
  • Median household income: $72,265
  • Per capita income: $36,274

Discover Dallas multifamily apartments for sale.

How Crexi Connects Buyers and Tenants to Dallas CRE Properties

Buyers and tenants nationwide discover Dallas properties using Crexi’s open marketplace. As one of Texas’ largest and fastest-growing populations, Dallas’ rising cap rates and low vacancy rates attract investor and business interest across asset classes.

Interested parties can quickly browse Dallas property for sale and lease through Crexi’s free search tool. To refine their search, buyers and tenants can easily filter by asset class, square footage, price/rate per square foot, cap rate, property type, and neighborhood.

Once they’ve discovered the perfect property, buyers and tenants can connect instantly with the listing’s broker through Crexi. Those interested in Dallas properties can download contact brokers, brochures, and offering memorandums (OM) and even submit a letter of intent (LOI) via Crexi’s secure platform.

Intelligence Connects Investors to Data and Market Knowledge 

Dallas investors and tenants seeking their next property utilize Crexi’s Intelligence subscription to inform their commercial real estate decisions. Intelligence equips CRE professionals with a collection of thousands of third-party verified sales comparables and over 50 up-to-date MSA market reports. Convenient property insight tools are available on every listing page, including the Insight tab’s look into real-time demographic data, average asking prices, square footage averages, and other relevant due diligence information.  

Crexi Intelligence places commercial real estate data squarely in the user’s hands, allowing them to make the most informed investment decisions possible.

Intelligence is available to buyers, sellers, and tenants on a subscription basis.

How Dallas Brokers Win with Crexi

Crexi features nearly 350 Dallas properties for sale within the city’s limits and over 2200 listings for lease within the city’s limits alone. Industrial and multifamily are among the most popular Dallas properties, attracting tenants, buyers, and investors seeking timely options for 1031 exchanges.

Throughout the Metroplex, brokers can list and manage properties in minutes across various asset classes, including:

  • Land Parcels
  • Industrial units
  • Multifamily units
  • Office buildings
  • Retail buildings
  • Mixed-Use developments
  • Hospitality facilities
  • Non-traditional buildings such as data centers, medical offices, etc.

Brokers harness Crexi’s digital tools and platform to navigate their properties from list to close. Dallas realtors can easily reach out to leads and monitor buyer and tenant activity in real-time. Additionally, Crexi’s encrypted file vault enables brokers to collect and securely store due diligence paperwork online.

However, Crexi’s broker technology’s full capabilities reveal themselves with Sale PRO, Lease PRO, and All PRO. 

Crexi PRO Dashboard 2020

Crexi All PRO

Crexi PRO accelerates and simplifies brokers’ workflows with robust lead management tools, branded customized lead reports, and marketing analytics. PRO brokers’ listings automatically get preferential positioning at the top of Crexi’s search results pages, instantly visible to buyers and tenants. In the last year, 53% of Dallas property seekers came from in-state, while 47% originated outside of Texas.

Crexi also sends out weekly email blasts containing PRO listings to thousands of relevant tenants and buyers nationwide. Powered by machine learning optimization, these marketing emails tailor only the most relevant properties to each user’s search history. This customization earns Crexi marketing emails a higher engagement level, with a click-through rate (CTR) average of 10-15%.

Crexi PRO members also enjoy unlimited access to Intelligence’s more than 40 million sales comps database and dozens of MSA market reports at no additional cost. 

Brokers — including those in the Dallas-Fort Worth MSA — employ Crexi PRO to directly and quickly connect with the more than 334,000 leads interested in Dallas in the last two years, and more than 3 million leads across the US added in just 2020. 

On average, PRO brokers earn 125% more leads and win six-to-eight more deals on average than non-PRO brokers.

Contact support@crexi.com to learn more about All PRO.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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