ROI Dallas/Fort Worth – Why California CEOs Are Coming to DFW
May 20th, 2015 | by Michelle
Real estate and its impact on the bottom line is a key consideration why California companies are moving to the area. DFW’s real estate offers a compelling economic story for companies considering relocation—office, industrial, raw land, and housing prices that can trim 30-50 percent off the cost of comparable options on the West Coast.
The average asking rental rate for available office space, all classes, in Dallas/Fort Worth for first quarter 2015 was $21.87 per square foot per year. In comparison, average asking lease rates, all classes, near the end of 2014 were $28.68 in San Diego; $32.04 in Los Angeles; and $63.24 in San Francisco.
The cost of industrial space in Dallas/Fort Worth enjoys a similar cost advantage over the West Coast. In the first quarter of 2015, overall Dallas/Fort Worth industrial rental rates averaged $4.97, while Greater Los Angeles averaged $7.37; San Francisco North Bay, $9.72; and San Diego, $12.36.
Southern Dallas—185 square miles or 55% of the city’s landmass—contains the most undeveloped land in the city. It is yet another compelling real estate story and the next great frontier in the region. Developable land in southern Dallas is priced from $1.50 to $4.00 per square foot.
In Dallas/Fort Worth there’s a place to fit every lifestyle—from high-rise urban living to established neighborhoods and rural ranches.
1918 N. Olive Street #902 | Museum Tower | Listed for $2,335,000
Uptown/Downtown—Live in the vibrant heart of Dallas where luxury high rises like Museum Tower start at $1.35 million, and leases average $1,300.
8545 Midway Road | Park Cities | Listed for $4,895,000
Neighborhoods Close to Downtown—In the Park Cities great schools and green spaces make up this quintessential neighborhood where homes range from $800,000 to $5 million+. In East Dallas life is centered on hiking, biking and sailing at White Rock Lake. Here the average home price is $450,000. Along the winding streets of Preston Hollow you’ll find a “who’s who” of Dallas founders and influencers where prices can reach $20 million+ for a signature estate.
6417 Sudbury Road | Plano | Listed for $2,425,000
Suburban North—In between the soccer fields and tree-lined parks, the neighborhoods of Plano, Frisco and McKinney offer new and recent construction that ranges from $500,000-$1 million+.
1220 Wyndham Hill Lane | Southlake | Listed for $2,169,00
Suburban West—Schools, athletics and community are at the heart of neighborhoods in Southlake, Colleyville and Westlake, where lots go for $300,000 and homes in gated communities that reach $3 million-plus.
413 Crestwood Drive | Fort Worth | Listed for $2,899,500
Fort Worth—It’s where cowboys and culture meet. Smaller homes in established neighborhoods start around $300,000 and custom builds in gated communities cost $1 million and up.
For more information go to the best neighborhood site in DFW.
Click here to see the latest in real estate news. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.