The Texas Rangers already have the competitive advantage in their World Series bid against the Arizona Diamondbacks, but if office market performance were part of the equation, the odds would lean even more heavily in their favor.
)
Dallas and Phoenix defied expectations by making it to the World Series as wild-card teams, but their office markets have long batted above average. Relatively low costs of living and less restrictive business environment have put both cities at the top of the list for corporate relocations, bringing with them thousands of new residents from out of state and fueling each market’s office sector.
Both cities are economic powerhouses, but when it comes to forecasting which will be named the champion of office performance, Dallas edges out a win, according to a report by JLL.
Just as the Rangers have home-field advantage and power hitters Corey Seager and Adolis García on their side, Dallas has the office market advantage over Phoenix in 11 out of 12 categories measured by JLL.
Population and job growth are stronger in Dallas, as well as the number of Fortune 100 headquarters and the percentage of residents with a bachelor’s degree. Dallas also has a higher combined office market value than Phoenix — $95B versus $42.9B — paired with stronger absorption and better rent growth on a 10-year historical basis.
Phoenix edges out Dallas in only one category: cost of living.
Regardless of which team takes home the Commissioner’s Trophy, each should be proud to add another achievement to its city's winning reputation, JLL President of U.S. Agency Leasing Jeff Eckert said.
“What the Rangers are doing to draw attention to the DFW Metroplex is awesome,” he said in an email. “It helps reinforce the great entertainment and culture we have in Dallas and builds a sense of community among the rapidly expanding workforce in the region.”
)
)
)
)
)
)
)
)
)
)
)
)