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Dallas Struggles with High Rate of Vacancy among Downtown Offices.

Publication: The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News)

Publication Date: 26-FEB-01
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COPYRIGHT 2001 The Dallas Morning News

Byline: Steve Brown

Feb. 23--When Peter Benanti recently relocated his company's downtown Dallas office to South Central Expressway, he got an unexpected fringe benefit.

"People who drive by call us and say, 'Your office looks so good that we wondered if you need anyone else to work there?'" said Mr. Benanti, whose TractorBeam Inc. occupies two levels of a former electrical supply building between Commerce and Canton streets.

"We love being here and think downtown is a great place to work."

Dozens of business owners and managers such as Mr. Benanti have made a new commitment to downtown during the last two years, but the area's high office vacancy rate has barely budged.

"We've had some internal growth, but overall ... downtown has been pretty quiet when it comes to attracting new tenants," said William Blaine Hale with CB Richard Ellis Inc. "If you look at the leasing numbers, last year was pretty rough for downtown."

In the last two years -- when the Dallas-Fort...

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