Dallas, TX
If a 44-story tower can go for $3.5 million in St. Louis, what does that say about D-FW?
This week, the Wall Street Journal painted a stark picture of downtown St. Louis. It dubbed the area’s office district a “doom loop” and pointed to cities trying to save themselves from a similar trajectory, such as San Francisco and Chicago.
Anecdotally, the publication surfaced a 44-story tower once anchored by AT&T Inc. that traded hands for $205 million in 2006. The Journal reported the St. Louis building, which now stands empty, recently sold for $3.5 million.
It’s a grueling picture as cities across the U.S. cope with the post-pandemic hybrid work reality defined by an office sector of haves and have-nots.
In North Texas, new, amenity-rich offices win new tenants, as do those existing buildings willing to put in significant investments to keep and lure small and mid-sized tenants. That is, during a favorable financing climate.
A common refrain in Dallas are those companies taking their large-scale leases from downtown to Uptown.
Downtown Dallas’ office vacancy rate sits at about 26.5%, according to research from Partners Real Estate.
That’s not the highest in the nation, but it’s still high, according to Steve Triolet, Partners’ senior vice president of research.
Contributing to the vacancy rate are some of the subleases that have rolled over to direct vacancy, in addition to Class B offices weighing down the central business district.
“When you think about the types of companies that we have here in Dallas compared to Houston or Boston from an office perspective, we represent the nation as a whole,” said Triolet. “This is not just a downtown Dallas problem. All downtowns have this problem.”
Fort Worth is much healthier, he noted, pointing to the city’s 11.5% vacancy rate.
One headwind to the office occupancy problem is corporate America’s reluctance to force employees back five days a week, instead opting for a hybrid model.
However, with many companies asking employees to share the same in-office days, businesses are hard-pressed to cut down their square footage when the same amount of desks are required.
In contrast to the rest of the country, Triolet pointed to the fact that the region is the fastest-growing in the nation when it comes to in-migration. Dallas-Fort Worth’s main competition is other Texas markets, such as Austin, Houston and San Antonio, though Memphis, Denver and Atlanta rear their heads as well.
Office conversions to hotel space and residential units continue to be a bright spot for downtown. Not only does it take vacant office space off the docket, but it holds potential.
“These represent some diamonds in the rough, but are not the cure,” said Triolet.
It’s too early to count the success of these, especially as many await to see the pricing of the dwelling units.
The other wait-and-see element is just what will happen with large chunks of office space that will require backfilling in downtown Dallas.
JPMorgan Chase, which recently expanded its lease at the Hunt building, is the outlier that remained downtown when it left its namesake building a few years ago.
But Deloitte, Goldman Sachs and Bank of America will leave large holes as they hightail it for Uptown in the coming years.
Those three firms alone represent nearly 1 million square feet of space combined.
DALLAS – Slow-moving thunderstorms brought localized flash flooding to parts of North Texas on Tuesday evening, blocking highways near Dallas-Fort Worth International Airport and dropping several inches of rain in portions of Tarrant and Parker counties.
Flash Flood Warnings
Local perspective:
Flash flood warnings are in effect for Hopkins, Hunt, Rains and Van Zandt counties until 7:45 p.m.
Flooding was reported along Texas 183 near Valley View Lane south of DFW Airport, where stranded vehicles and water-covered roadways created hazardous travel conditions.
A flash flood warning remained in effect near the airport, although rainfall rates had begun to diminish as the storm weakened.
Severe Thunderstorm Warnings
The National Weather Service also issued a severe thunderstorm warning for northern Hood County, citing the potential for gusty winds and small hail. Forecasters reported hail ranging from pea-sized to marble-sized in parts of Hood, Parker and Denton counties.
Forecasters attributed the weakening storms in Denton County to an outflow boundary, a meteorological feature that can disrupt thunderstorm development.
The warning area was reduced as the storm weakened near sunset.
LIVE RADAR
What they’re saying:
FOX 4’s Kylie Capps said the storms moved unusually slowly from east to west, allowing heavy rain to accumulate over the same areas for several hours.
Rainfall estimates showed some locations in eastern Parker County and western Tarrant County received nearly 5 inches of rain during a six-hour period, while areas near DFW Airport recorded more than 2 inches.
Elsewhere in North Texas, northern Rains County received nearly 5 inches of rain.
7-Day Forecast
What’s next:
Forecasters expect a quieter overnight period, with only isolated showers lingering into the evening. Additional thunderstorms are possible Wednesday afternoon, though coverage and the threat of severe weather are expected to remain limited.
Temperatures are forecast to reach about 90 degrees Wednesday.
Rain chances are expected to continue through the remainder of the workweek and into the weekend as an upper-level low-pressure system sends multiple disturbances across North Texas.
The Source: Information in this article was provided by FOX 4’s Weather Team
Monday was a wild day for the NFL with two blockbuster trades. First was Myles Garrett, who both the Dallas Cowboys and Philadelphia Eagles were rumored to have interest in.
Cowboys fans never bought into these rumors, knowing that Jerry Jones was unlikely to make such an investment. The Eagles, however, have been known to get aggressive. Thankfully for Dallas fans, they didn’t make the move as the Cleveland Browns sent Garrett to the Los Angeles Rams for Jared Verse and a package of picks.
Not long after that trade was finalized, the Eagles did wind up making a trade. After months of speculation surrounding A.J. Brown and the New England Patriots, the two sides made it official as Brown was reunited with Mike Vrabel in exchange for a 2028 first-round pick and a 2027 fifth-rounder.
Dallas Cowboys could take the NFC East crown in 2026
The writing has been on the wall all offseason regarding Brown, who has been unhappy with the Eagles for a while. His departure seemed confirmed when they traded up with Dallas in the 2026 NFL draft for USC receiver Makai Lemon.
While Lemon has the tools to be a difference-maker, he won’t be able to perform at the same level as Brown during his rookie season. The Eagles do still have DeVonta Smith at receiver as well as running back Saquon Barkley and quarterback Jalen Hurts.
That said, there’s no denying that they’re weaker this season than they were with Brown. Just as important, however, is the fact that general manager Howie Roseman didn’t pull off a shocking move for Garrett, which would have made them the overwhelming favorites in the division.
Cowboys chances hinge on defensive changes
Another reason the Cowboys are confident they can hang with Philadelphia this season is the presence of Christian Parker, who they hired as their defensive coordinator after he spent the past two seasons as the passing game coordinator and defensive backs coach with the Eagles.
Parker brings in a new scheme and plenty of confidence, but more importantly, he has several new weapons at his disposal. Dallas traded for veterans Rashan Gary and Dee Winters, signed Jalen Thompson and Cobie Durant, and selected Caleb Downs and Malachi Lawrence in the draft.
Those are just some of the moves they made on defense, and they’re banking on that to be enough to help propel them past the team that has won the division the past two seasons.
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