Sitting north of Downtown Dallas across the Woodall Rodgers Freeway, Uptown Dallas has transformed over the last decade into an upscale, urban mecca within the greater Dallas Metro. An abundance of mixed-use development characterizes the district. While many Dallas-Forth Worth neighborhoods outside of the downtown cores have a distinct separation between residential streets and office parks, Uptown offers a dynamic live-work-play environment with plenty of shopping, dining, and cultural destinations. Uptown Dallas office space is ideal for companies seeking modern office space in one of the most accessible districts in the city.
Uptown – Oak Lawn Office Space | Lease Data & Trends
Based on publicly available commercial real estate leasing data, the Uptown/Oak Lawn office space sub-market is one of Dallas’ most expensive neighborhoods, with prices driven by modern office buildings and a low vacancy rate of 15% for Class A property. More than 80% of Uptown’s 12.5-million-square-foot inventory is Class A product, which have average asking rents of $42 per square foot. Class B office space in Uptown and Oak Lawn leases for around $35 per square foot.
As of July 2018, more than 1 million square feet of new construction has been completed. An additional 430,000 square feet of Oak Lawn office space is still under construction.
What Our Brokers Say About Uptown – Oak Lawn Office Space
Uptown has a very educated population: nearly 70% of Uptown residents hold a bachelor’s, master’s, or advanced degree. The district attracts young professionals who enjoy the urban lifestyle Uptown supports, and who in turn attract businesses seeking to benefit from an educated workforce, such as Goldman Sachs, Pricewaterhouse Coopers, Bain & Company, Boston Consulting Group, Harwood International, and HollyFrontier.
Startups and tech companies who can afford Uptown – Oak Lawn office lease prices often benefit from the perks of brand-new or recently completed office space. Tech-focused headquarters and offices in the area include Cloudreach Inc, BRIX Holdings, ISN, RevSense, Yext, MarketKarma, RewardStyle, and Salesforce.
Uptown’s startups, like Glass Heel and VelvetCrate, will likely benefit from the future Dallas location of Austin’s thriving startup hub Capital Factory. Capital Factory is scheduled to move into the Centrum building in Oak Lawn, which is a neighborhood often considered part of Uptown.
Getting Around Uptown and Oak Lawn
Uptown experiences a 150% growth in population during the workday, and luckily there are multiple options for commuting to the district. Drivers can commute to Uptown via major routes like Central Expressway, Woodall Rodgers Freeway, the Dallas North Tollway, I-35, or I-30. The Red, Blue, Orange, and Green lines all stop in Uptown, and the McKinney Avenue Transit Authority operates a free trolley that runs to Downtown Dallas. Uptown is one of the most pedestrian-friendly areas in all of Texas.
One of Uptown’s biggest appeals for residents and daytime workers alike is that the neighborhood is one of the most pedestrian-friendly. Many who live in or near the district walk or bike to work along the Katy Trail.
Uptown and Oak Lawn are approximately a 10-minute drive from Dallas Love Field Airport and under 30 minutes from Dallas-Fort Worth International Airport. Nearby neighborhoods include Downtown, Deep Ellum, Highland Park, Turtle Creek, and Stemmons Corridor.
Uptown – Oak Lawn Neighborhood & History
Containing almost 60 acres of green space and over 200 restaurants, Uptown offers endless opportunities to eat and explore. Klyde Warren Park, located on the border between Uptown and Downtown, provides the best of both worlds, with a botanical garden, food trucks rolling in every Thursday to serve everything from Greek food to pizza, and live music and events on a regular basis.
On days other than Thursday, Uptown still serves some of Dallas’ best meals and is home to three restaurants created by Dallas’ best-known celebrity chefs: Abacus, Fearings, and Stampede 66. Other local favorites include Baboush, Pok the Raw Bar, Tacos and Tequila, Uchi, and Crushcraft Thai Street Eats.