Dallas-Fort Worth’s financial hub, created courtesy of several New York City financial services giant’s relocations, is currently commanding the area’s highest rents and according to Bisnow.com, accounts for nearly “94 percent” of the North Texas’ development pipeline. To say the Uptown “Y’all Street” is one of the South’s hottest properties is certainly an understatement. Rents have grown nearly 31 percent in Uptown Dallas since 2024.
After Morgan Stanley announced it is bringing a new tower and 4,800 jobs to “Y’all Street” by 2031, one wonders if those rents aren’t going up again. The firm chose Dallas over the Atlanta market of Alpharetta in the fall quarter for a major shift in operations away from Wall Street. The deal falls in line behind several massive financial services relocations from New York to Texas over the last several years.
The growing list of Wall Street names betting on North Texas include Vanguard, Goldman Sachs, Bank of America, JP Morgan, Charles Schwab, Nasdaq, Citi, Wise and the New York Stock Exchange announced it was relocating its Chicago outpost to Dallas. NYSE Texas officially opened on March 31, 2025. It should be noted that as a state, Texas is home to the largest number of NYSE listings.
