- Dallas-Fort Worth (DFW) has become a top target for national CRE firms through acquisitions, expansions, and relocations.
- Local firms like Trammell Crow and The Staubach Co. paved the way for DFW to become a high-profile CRE hub.
- The region leads the US in corporate relocations and is emerging as a financial center, supported by the rise of the Texas Stock Exchange and major investment from Wall Street firms.
DFW Is CRE’s New Gold Standard
Dallas-Fort Worth is no longer just a regional stronghold, reports Bisnow. It’s now one of the most influential commercial real estate markets in the country. According to site selection expert John Boyd Jr., DFW is a clear example of how local firms can grow nationally by building strong reputations and client-first cultures.
As a result, it has caught the attention of global players eager to invest in high-growth markets.
M&A Activity Heats Up
National firms are not just entering DFW — they’re buying in. In the past three months alone, Colliers acquired Greystone’s Dallas-based multifamily team. Meanwhile, Cresa purchased Fischer, and Stewart Information Services picked up Lewisville-based MCS.
These moves show a growing trend: it’s often faster and more effective to acquire local expertise than to build it internally. For example, Cresa made its first big move into DFW in 2022 by merging with ESRP. The 50-person tenant rep firm was founded by Pro Football Hall of Famer Emmitt Smith and veterans of The Staubach Co.
Since then, ESRP has helped Cresa expand deeper into Texas. According to CEO Tod Lickerman, that team is leading the charge, highlighting the importance of the DFW and Texas markets overall.
A Magnet for Talent and Capital
DFW’s rise stems from more than just business growth. It combines a large inventory of commercial space with a growing population and a tax-friendly environment. These factors make it especially appealing to both companies and professionals.
It’s also home to major players like CBRE, Hillwood, and Trammell Crow. These firms helped define the local CRE landscape and continue to shape the market. According to Avison Young’s Susan Gwin Burks, deep local relationships often give Dallas-based professionals a competitive edge. In CRE, she said, “It’s the relationship that really drives the deal.”
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Financial Services Fuel the Fire
But DFW’s transformation goes beyond real estate. It’s becoming a financial hub, driven by the rise of “Y’all Street.” The Texas Stock Exchange raised $120M and gained SEC approval in 2025. It plans to launch operations next year with a headquarters in Dallas.
Not surprisingly, Wall Street firms are following. Goldman Sachs, Scotiabank, Wells Fargo, and PennyMac have all committed to the region. Their presence reinforces DFW’s growing role in the financial services sector. This expansion has also strengthened the area’s office market, which has been gaining momentum as financial institutions broaden their footprint.
From 2018 to 2024, the region landed 100 new corporate headquarters — nearly 20% of all US relocations. In 2025, Site Selection Magazine named DFW the top city for headquarters, citing its pro-business climate and lack of personal and corporate income taxes.
As Boyd put it, “Money goes where it is welcome — and DFW has rolled out the red carpet.”
Why It Matters
Dallas-Fort Worth is now the No. 1 US market for investment sales. Through the first three quarters of 2025, it brought in nearly $18B across 800-plus transactions, according to Avison Young. The metro also reclaimed the top spot in the Emerging Trends in Real Estate 2026 report by ULI and PwC.
It’s a strong endorsement of a market that continues to attract top talent and capital. Boyd noted that DFW also draws leading architects and legal professionals. “You see a high level of acumen here,” he said. “It’s a magnet for top performers.”
What’s Next
While M&A activity has recently accelerated, DFW has a long legacy of CRE influence. Trammell Crow was named the nation’s largest private real estate operator in 1971 and was acquired by CBRE in 2006 for $2.2B. Meanwhile, The Staubach Co. built a 52% market share in the DFW office sector before merging with JLL for $727M in 2008.
These historic acquisitions laid the groundwork for DFW’s modern CRE dominance. Today, national firms consider a DFW presence essential.
“Texas has always been home to some great developers,” Lickerman said. “And out of that comes a great training ground for professionals.”
