Fisher Investments increased its North Texas office space by 442,500 square feet, signaling its commitment to the market after relocating its headquarters from Washington state two years ago.
The financial services firm purchased four office buildings in Carrollton: three properties from Billingsley Company — 4100 and 4120 International Parkway and 4100 Midway Road — and the headquarters of G6 Hospitality, at 4001 International Parkway, the Dallas Business Journal reported.
The acquisitions were completed over several months and will provide Fisher with room for expansion near its headquarters in Plano, just a half-mile away.
Fisher relocated to Texas in 2023 after the Washington Supreme Court upheld the state’s controversial wealth tax. The tax, implemented in 2021, imposes a 1 percent tax on the net worth of individuals exceeding $250 million, targeting assets such as stocks, bonds and business interests.
While the ruling solidified the state’s position on taxing extreme wealth, it also influenced Fisher, to relocate operations to Texas, for its business-friendly climate, skilled workforce and lack of regulations. Other companies have been drawn to “Y’all Street” for the same reasons.
For example, Goldman Sachs is establishing a significant campus in Uptown Dallas, and Bank of America is moving from its namesake downtown building to KDC’s Parkside Uptown building, which is under construction at Harwood Street and Woodall Rodgers Freeway.
The North Texas office market has seen a boost in leasing activity, driven in part by the return-to-office trend, although challenges remain. The DFW metro trailed behind New York and Chicago with 52.8 million square feet of unused space during the second quarter. Meanwhile, the office vacancy rate is sitting at about 26 percent.
— Andrew Terrell
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