DFW Office Market Gains Ground As Financial Sector Expands

DFW office market sees leasing surge in 2025, led by financial firms and Texas Stock Exchange growth in Dallas.

July 14, 2025

DFW office leasing rose 35% year-over-year in the first half of 2025, with 3.2M SF leased in Q2.
Financial firms, led by the Texas Stock Exchange, drove leasing, securing five of the top 10 Q2 deals.
Class-A offices remain in high demand, though renovated Class-B space is also performing well.
Office market outlook is optimistic but hinges on continued leasing momentum through year-end.

Key Takeaways

Wall Street South

The Dallas-Fort Worth (DFW) office market is heating up, thanks largely to an influx of financial firms, reports Bisnow. A key driver of this momentum is the growing presence of the newly formed Texas Stock Exchange (TXSE). The trend has sparked talk of a new financial hub in the region—what some are calling the rise of “Y’all Street.”

TXSE, backed by major players like BlackRock and Citadel Securities, is establishing its headquarters in Dallas, featuring executive offices, a broadcast center, and a conference facility. Their move has sparked similar expansions by legacy exchanges. In early 2025, NYSE announced it would reincorporate its Chicago office in Dallas, while Nasdaq said it would build a regional HQ there to serve the Southeast.

Leasing Momentum Builds

Office leasing in DFW surged to 3.2M SF in the second quarter, according to Savills. That helped boost the year’s first-half leasing volume by 35% compared to 2024.

Financial services and insurance companies accounted for half of the 10 largest office leases in Q2, totaling over 292K SF. AT&T also made waves with a 186K SF lease in Richardson to expand its call center—a key factor in lifting the region’s office utilization rate to 61%.

Quality Drives Demand

Class-A offices remain the preferred product in the region, with tenants drawn to high-amenity buildings. Though demand for Class-B space still exists, much of it is being renovated to remain competitive.

Avison Young and Savills both point to ongoing return-to-office trends and DFW’s strong economic fundamentals—affordability, a pro-business climate, and incentives—as long-term tailwinds for the office sector.

Cautious Optimism Ahead

Despite recent gains, experts say a full recovery is still in progress. Availability remains just above 28%, and around 6.5M SF of new office space is under construction, which could add pressure on occupancy rates.

Still, with continued leasing momentum and strong job growth, the outlook for the remainder of 2025 remains positive.