Friday, July 18, 2008

Tenet Healthcare considering a move to downtown Dallas

Tenet Healthcare Corp. – one of the country's largest hospital operators – is considering moving its corporate offices from the suburbs to downtown Dallas.

The firm has looked at several buildings in central Dallas, including the Fountain Place tower on Ross Avenue, real estate brokers say.

Tenet is currently located in an office tower that sits just north of the Galleria complex at 13737 Noel Road.

The company has been evaluating potential locations for its move and could make a choice in the coming weeks, brokers familiar with the transaction say.

A spokesman for Tenet would say only that no decision about the company's offices has been made at this point.

If Tenet makes the move downtown, it would join a growing list of companies shifting operations to the central business district.

Telecommunications giant AT&T announced last month that it is moving its headquarters from San Antonio to downtown Dallas.

Other firms, including Autonomy etalk, 7-Eleven Corp., American International Group and TM Advertising, have recently shifted operations to Dallas' city center.

"I continue to be encouraged by tenants looking at downtown to relocate," said John Crawford, president and CEO of DowntownDallas, the central business district economic development organization.

"With the amount of office space we have and rates being offered, it's a very attractive option," he added.

Plus, downtown is getting a boost from high gasoline costs that have underscored the importance of public transit.

The central business district is the hub of the Dallas area's light rail system.

And construction of several thousand residential units downtown in recent years has added to the district's appeal.

"Downtown is in a sweet spot because we can provide an urban environment in a central location," Mr. Crawford said.

By Steve Brown