Major Corporations Intends to Occupy Downtown Dallas Space

by : Richard Soto

In recent years, Dallas office space and warehouse space has become a hot commodity that is increasingly in demand. Each day there are new announcements of the development of new office and warehouse space in downtown Dallas.

Just this week the American International Group announced that it will be moving its main office to Dallas, right in the heart of the downtown.

An In-Depth Look into AIG's Decision

Tom Leppert, the mayor of Dallas commented, 'We are clearly excited about this announcement. Not only did AIG decide to stay in Dallas, but it chose downtown Dallas as its new home. Their relocation adds to the exciting momentum already building in the city's core.'

The momentum that Leppert is referring to is the numerous businesses; both large and small that are flocking to the area of downtown Dallas. This is a terrific time to invest in Downtown Dallas office space. There are several new announcements of Dallas office space for lease, which can be the perfect start for a local, nationwide or global business to set-up shop.

The American International Group is expected to move, as of 2009, into The Plaza of the Americas. AIG is a very large global insurance firm. It offers clients life, property, casualty and specialty insurance to individual and institutional customers. Last year, AIG experienced over $113 billion dollars in sales.

A New Announcement Concerning Dallas Warehouse Space

In addition to AIG's decision to move their main office to the downtown area of Dallas, Holt Lunsford Commercial purchased a piece of valuable Dallas warehouse space known as 'City Warehouse'. This was the warehouse where over 3 million Ford trucks and cars came off the assembly line. Many of these vehicles bore a sticker that read 'Made in Texas by Texans'.

The City Warehouse, unfortunately, was shut down nearly 40 years ago. Holt Lunsford Commercial has huge plans for this historical piece of Dallas warehouse space. The plans for this property include a revitalization component that is designed to revive the City Warehouse's role in the neighborhood. The owner hopes that the redevelopment of this warehouse will act as a powerful economic engine for the eastside of the city.

The owner of the City Warehouse commented, 'The big push for us is, how we can be instrumental in the revitalization of the community?'

This premier Dallas warehouse space consists of over one million square feet, 12 warehouse, office and distribution buildings, covering 65 acres of land. One of the plans for the use of this space is to attract new retail shops and to offer affordable office space to new businesses. Also, the new owner of City Warehouse is looking towards creating a business incubator that will be responsible for bringing more manufacturing jobs to the area.

Both of these recent announcements, from GE, Land Tejas and Holt Lunsford Commercial will have a dramatic impact on Dallas Texas real estate. The future of residential and commercial development, in Dallas, is extremely promising as new projects are already being planned.