DALLAS — Several major companies have relocated or announced plans to move their operations from downtown Dallas to suburban locations in the Dallas-Fort Worth metroplex, contributing to elevated office vacancy rates in the city’s central business district.
AT&T, one of downtown Dallas’ largest employers, announced in January 2026 that it would relocate its headquarters from the Whitacre Tower to a campus in Plano, Texas, by 2028. Fifth Third Bank also plans to exit the Comerica Bank Tower in downtown for space in Preston Center, a north Dallas suburban area, according to local reports.
Downtown Dallas recorded an office vacancy rate of 27.2 percent in late 2025, among the highest of major U.S. downtowns, according to the Wall Street Journal. Officials and real estate analysts attributed the trend to companies seeking modern campuses with better amenities, easier parking and access to talent in suburban hubs such as Plano and Frisco.
The moves reflect a broader shift in the region. While the wider Dallas-Fort Worth area continues to attract corporate headquarters from across the country, many companies have opted for suburban developments rather than downtown towers built primarily in the mid-20th century.
“Companies are prioritizing environments that better support employee recruitment and retention,” said a representative from a local commercial real estate firm, citing mixed-use developments and lifestyle factors in suburban locations.
AT&T’s departure, which employs thousands in downtown, is expected to further impact vacancy rates once completed. Other tenants have also scaled back or relocated amid post-pandemic changes in work patterns and preferences for lower-density settings.
Suburban areas like Plano, Frisco and Las Colinas have seen leasing activity from relocating firms, including both local moves and new arrivals to the region. The DFW metro led the nation in corporate headquarters relocations in 2025, with many landing in northern suburbs, according to CBRE reports.
Downtown Dallas leaders have acknowledged challenges, including aging infrastructure and competition from newer developments. Efforts to adapt include potential conversions of office space to other uses and initiatives to improve safety and vibrancy.
The Dallas Regional Chamber and city officials noted continued economic momentum across the broader metro area through relocations and expansions in the first quarter of 2026, even as downtown faces adjustments.
As of June 2026, real estate analysts said the full effects of announced moves would unfold over the next several years. Officials indicated monitoring of market conditions and support for adaptive reuse projects in the central business district.
The trend underscores evolving corporate real estate strategies in one of the nation’s fastest-growing metropolitan regions.
