Regions Tower is a 15-story, 267,352-square-foot office building owned by Diversified Capital of Lakewood, N.J. Located at 1111 W. Mockingbird Lane, the property is currently 55% leased.

1165 Empire Central is a two-story, 36,795-square-foot office building. Owned by Interra-Sky Empire Central LLC of Houston, the property is currently 50% leased.

All three properties have large blocks of space available, Anderson says. He tells GlobeSt. that the Stemmons submarket is even more attractive in times of economic distress, especially for companies that are looking to save money on their space.

“Companies that are looking for quality office space within close proximity to Las Colinas, Uptown and the CBD can find it in the Stemmons submarket,” Anderson says, adding that rental rates average $13 per square foot, which allows companies in class C space to upgrade.

Additionally, the expansion of Parkland Health and Hospital System and Children’s Medical Center of Dallas has generated substantial demand for office space in the Stemmons submarket. However, the submarket continues to have one of the higher vacancy rates in the Metroplex.

For the past several years, the Stemmons office market has recorded occupancy of roughly 70%. However, Anderson expects occupancy to increase. “If you have to justify your real estate expenses and lease rates to shareholders or other public entities, you’re going to find life is easier when you lease in the Stemmons submarket,” he contends.