DALLAS 1031 EXCHANGE
Focus areas: Downtown, Addison,
Plano, Las Colinas
They say that everything is bigger in Texas. As such, it should come as no surprise to learn that the real estate market in the Texas cities tends to be strong. The strength in the cities has made doing a 1031 exchange in Dallas
a key strategy for investors. In fact, Dallas recently ranked as one of the top 10 real estate markets in the United States. The residential and commercial real estate markets are strong, and the environment for real estate investment could not be better. 1031X
has expanded into Dallas to help real estate investors create optimal tax strategies.
Long gone are the days where large cities maintain one concentrated business center. Dallas boasts several centers of business activity. Each of these business centers has led to high commercial real estate growth and increased opportunities for investment. These areas include Downtown/Uptown, Galleria/ Addison, Plano, and Las Colinas.
Downtown / Uptown
Downtown Dallas is the original center of commercial activity in Dallas. There are iconic buildings that make up a beautiful skyline. As well, there are iconic real estate investment firms officing in this part of town. Businesses eventually began expanding beyond the standard boundaries of downtown. The Uptown neighborhood used to simply be the home of the Crescent. Now, it is home to dozens of commercial and residential buildings. Combined with downtown, this area has some of the most prominent business addresses in town.
Galleria / Addison
The Galleria Mall was once just a place for high-end couture. The area has since been transformed into a business center in its own right. The growth in both office and retail space in the area has been amazing. Adding to this was the demolition of the old Valleyview Mall, providing acres of land to be developed. The location of this area, sitting at the intersection of Interstate 635 and the Dallas North Tollway, has made it ideal for both city dwellers and suburbanites alike. When combined with the Addison area, this pat of town has become a corridor of commercial buildings and residential offerings along the tollway. There’s also a mix of investment opportunities for multifamily residential buildings and office buildings in this area.
The city of Plano grew from being just a suburb to a center for headquarters in the 1980s when both EDS and Frito-Lay moved there. The number of companies represented in Plano has since expanded to include a mix of technology and household brands. This has led to off the charts growth in commercial real estate investment. The growth of corporate headquarters also supported the development of residential communities throughout this northern suburb.
The community of Las Colinas benefits from proximity to DFW International Airport. It was developed in the city of Irving, which sits between Dallas and Fort Worth, giving its residents relatively easy access to both. Las Colinas is home to nearly 2,000 companies, and more than 25 million square feet of commercial real estate. The town also has a number of planned communities and mixed-use real estate properties combining retail, restaurants, and living spaces. The real estate investment opportunities have been robust from the start.