A data services firm is relocating its headquarters from Las Vegas to Dallas, according to reports, underscoring the continued strength of the Dallas office space market.
CoreSpace, which specializes in server and colocation data services, purchased a 30,000-square-foot property on the John Carpenter Freeway, according to reports, and has already hired 15 employees for its new headquarters. The company also has offices in New York, Atlanta and Los Angeles, among other markets.
Dallas proved attractive to CoreSpace partly because of its already burgeoning market for data services corporations. The support CoreSpace could find in Dallas - both technologically and in the form of new talent - intrigued the company enough to make the city its long-term home.
"Dallas brought three things to the mix: a large pool of employees - the depth of technical resources here is astronomical," executive Mark Wulff told D Magazine. "Second, Texas has its own power grid, which is very favorable for a data center in terms of stability and cost. And third, you get a great bang for your buck on real estate. The values here are unbelievable."
The Dallas office space has appealed to companies in a variety of sectors and industries, contributing to its ongoing growth. In its regular report on economic growth in its key districts, the Federal Reserve noted the Dallas economy has benefited, in part, by an improving commercial real estate sector, which has encouraged a number of businesses to consider purchasing Dallas office space. The energy and high tech sectors have been particularly significant drivers to new commercial real estate contract activity in Dallas.