CoStar Group is packing up its Dallas digs and heading straight for the Arts District, locking in the entire 14th floor at Ross Tower in a move that gives the commercial real estate data giant a prime perch over downtown. The lease covers just over 20,000 square feet, with CoStar expected to settle into the new space this summer. For one of downtown’s older towers, landing a full-floor tenant is no small win, and it plants CoStar squarely in the middle of the city’s cultural corridor.
According to the Dallas Business Journal, state filings show CoStar will occupy more than 20,000 square feet on the 14th floor of Ross Tower. The filing was first flagged yesterday, in a story by reporter Mike Albanese, who noted both the timing of the relocation and the full-floor layout reflected in the public records.
Ross Tower sits at 500 N. Akard Street in the Arts District, a downtown address that has been pitched to tenants with full-floor availability. A property listing on LoopNet publicly details the building’s location and floor inventory. For the tower’s ownership and leasing team, securing a tenant that will take an entire floor is a welcome boost in a market where every committed block of space still matters.
Downtown Leasing Still Uneven
The broader Dallas-Fort Worth office market has started to show signs of stabilizing, but downtown is still wrestling with elevated vacancy and a “flight to quality” that keeps many tenants favoring newer buildings and suburban campuses. Recent market summaries indicate the metro has posted positive net absorption even as downtown vacancy remains comparatively high, with Class A properties capturing most of the leasing action. Industry analysis suggests that midmarket, full-floor deals like CoStar’s help landlords gradually chip away at empty space, although they do not, on their own, rewrite the narrative for the central business district, according to research from Bradford.
Why CoStar’s Move Matters
CoStar is one of the biggest data and marketplace players in commercial real estate, with brands that include LoopNet and Apartments.com, so its local footprint lands with a bit of symbolic weight for landlords and brokers. The company has been expanding operations across the country even as it consolidates corporate offices in the Washington, D.C. area, a trend outlined in its own press materials. Background on CoStar’s national growth and headquarters activity is available on the company’s press site at CoStar Group…