Stemmons a "Golden Goose" Opportunity for Office Space
It is well known that Dallas is a business-centric city as its home to over 67,000 businesses, 21 of which are fortune 500 corporations with 41 more as fortune 1000 companies. Dallas has definitely earned its motto "Big things happen here" as more and more businesses pour in from out of state to find out exactly just what big things Dallas has going on.
Within all this big business, there is an area within Dallas that could be considered the "golden goose" of upcoming opportunity. The Stemmons corridor stretch is a growing commercial hub for economic innovation. Covering about six squared miles, nestled between Oaklawn and the Trinity River, this area is home to more than 4,700 Dallas' businesses and sees approximately 150,000 daytime residents. The area features an array of office buildings, hotel accommodations with plenty of dining, shopping and entertainment opportunities. Access to several major highways allows for travel to many other points of interest in Dallas a breeze.
One of the major upsides to this area is the neighboring Love Field Airport which can be reached quickly as it sits 4 miles away from Stemmons. Since the 2014 repealing of the Wright amendment, allowing the airport to expand to its current 20 gates and fly to more than the previous 4 state limitation, Love Field is now one of Dallas' staple airports. Now offering non-stop flights all over the United States as well as some international flights. The ability to have a major airport at your fingertips is an attractive added value for those whose businesses require air travel. Southwest airlines, the user of 18 of the 20 gates, added 4 more cities to its network in 2020 and has announced plans for another six in 2021.
This area is also a big plus for any medical business or personnel as it neighbors the Southwestern Medical District that covers more than 1,000 acres and employs approximately 37,000 people. Its medical facilities such as Parkland Memorial Hospital and U.T. Southwestern Medical Center attract more than 2.9 million visitors per year.
With two international consulates sitting a half-mile from each other on either side of Mockingbird Lane, many law groups or individuals whose focus is immigration and things alike have already begun to establish a strong presence here. And it makes sense, with numerous modes of public transportation converging in this area, clients are able to reach this area with great ease.
With I-35 along its length, the Stemmons Corridor allows for quick access to downtown and its location makes it easy for commuters going north of I-635. Alternative roads are abound with highway 183, highway 12, and the Dallas North Tollway nearby.
The city of Dallas has identified this area "as an area of growth and stressed the need for an area plan to guide this growth to foster desirable development patterns." and thus in 2010 beginning the "forwardDallas!" plan. This 30-year plan aims to make the Stemmons Corridor an integral part of Dallas business. ( Read more about the plan here).
With all the resources and a clear path for growth, it's no wonder why this area is booming and many businesses are looking to lease office space here. The Stemmons area also offers lower rates than other popular office space locations such as Downtown Dallas and north of LBJ making it the best area to grow a business economically.