[Updated Oct 2020] A guide to executive suites and office space to rent in Fort Worth as well as general information that may be useful if you are considering renting office space in Fort Worth.
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History & Geography
The fifth-largest city in the state of Texas is located in the north of the state in the Cross Timbers region. In the vicinity of the city is the Trinity River and to the west the Great Plains. Ft Worth is named after Major General William Jenkins Worth, second in command to General Zachary Taylor during the Mexican-American War of 1846. In 1849 Worth was in charge of the Department of Texas and instituted a series of forts marking the western Texas frontier. Later that year Major Ripley Arnold established Fort Worth, named in honor of his former commander who had died of cholera earlier that year. Despite the constant threat of attack from Native Americans, settlers flocked to the area and soon a sizeable community was established. Because it was a stop on the Chisholm Trail, Ft Worth’s population continued to grow steadily. The Chisholm Trail was used mainly to drive cattle from Texas to Kansas, where they could be loaded onto trains. Because of its importance to the cattle industry, Ft Worth was soon dubbed ‘cowtown’. Ft Worth suffered economically during the Civil War and in the reconstruction period that followed. The population dropped to merely a few hundred and a shortage of supplies made life difficult in the town. The town revived in 1876 when the railway reached it. The cattle industry once again became prominent in the town and it began to boom. With the boom however crime became a major problem in Ft Worth, especially in the section of the city designated ‘hell’s half-acre’ because of the number of bars, brothels and gambling dens. The crime rate was lessened at the beginning of the century and Fort Worth continued to thrive. The area also became a major military base which added to the prosperity of the city and the region as a whole. Today Ft Worth is a cultural icon of the American West and a thriving modern city in its own right.
Economy
Almost 50,000 jobs were lost in the area in the 1990s due to the downsizing of the defense industry, prompting Ft Worth into a major effort to diversify its economy. Among the major companies with a presence in Ft Worth are AMR, Pier 1 Imports, RadioShack, Gallus Cycles, Lockheed Martin, Bell Helicopter and BNSF Railways. One of the bulwarks of the city’s economy is manufacturing, along with the government sector and oil and gas exploration. Semiconductor manufacturing and communications equipment manufacturing are particularly prevalent in the city. Distribution is also a large industry and Ft Worth is also becoming a popular destination for corporate offices. Recently Tech Ft Worth was established to encourage the growth of new companies. As part of this, the Ft Worth Business Assistance Center has been created, which boasts 160,000 square feet of office space as well as conference rooms and laboratories. Of late tourism has also become an important industry in Ft Worth, with the city seeing thousands of visitors every year.
Tourism & Culture
Recently Ft Worth has touted itself as ‘City of Cowboys and Culture’. Many tourists come to Ft Worth for its rough frontier history and important role that it has played in the formation of the state of Texas. Among the popular museums in the city are the Military Museum of Ft Worth, Texas Civil War Museum, Texas Cowboy Hall of Fame, the National Cowgirl Museum and Hall of Fame and the Museum of Science and Industry. The city also has a thriving arts scene and several very respected art museums and galleries, including the Kimbell Art Museum, the Amon Carter Museum of Art and the Modern Art Museum of Ft Worth. For visitors who are interested in hiking in the area, there is the Ft Worth Nature Center and Refuge. It is located in the northwest of the territory and has one of the last remaining pure bison herds and a prairie dog town. It is one of the largest urban parks in the US. The Ft Worth Zoo is also a popular destination and was recently named as the top zoo in the US. It has over 5,000 species of animals and sees thousands of visitors every year.
Transportation
Like many US cities, Ft Worth is based on a grid system and is therefore very easily navigable. Many residents of the city get around using an automobile. There is however a fairly extensive public transportation system, including ‘Molly the Trolley’, which is free and encircles Sundance Square. There was recently talk of building an extensive streetcar system however it has been vetoed by the city council. Ft Worth is served by the Dallas/Ft Worth International Airport and the Ft Worth Meacham International Airport, located near the downtown business district of the city near Interstate 820.
Office space for rent in Fort Worth TX
Ft Worth and the neighboring Dallas continue to have some of the strongest economies in the US, despite the recent recession. Cost of living is currently 92 percent of the national average and there is no income tax. The current vacancy rate is 20.6 percent, a fall from the previous quarters. The average rental rate is USD 19.29 per square foot. There is currently over 500,000 square feet of office space under construction in the city. However, this is unlikely to increase the amount of vacancy as demand creeps up as the economy continues its slow improvement throughout the region.
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