"D-FW Real Estate Market: Lessons from St. Louis's Downtown Crisis"
Downtown St. Louis faces a challenging office market as a 44-story tower, once valued at $205 million, recently sold for just $3.5 million. Meanwhile, downtown Dallas grapples with a 26.5% office vacancy rate, prompting corporate relocations to Uptown and a shift towards hybrid work models. The region's fastest-growing in-migration offers some hope, but large chunks of office space will require backfilling as major firms like Deloitte, Goldman Sachs, and Bank of America move to Uptown, leaving significant vacancies. Office conversions to hotel space and residential units are seen as a potential solution, but their success remains uncertain.