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3 Texas Office Deals Rank Among The Priciest In The Nation

Three Texas real estate transactions made CommercialCafé's list of the Top 50 Priciest U.S. Office Deals for 2019, the data firm said Tuesday. 

3 Texas Office Deals Rank Among The Priciest In The Nation
Downtown Houston skyline

Houston ranked highest on the list among all Texas cities, achieving the No. 12 spot with Hariri Interests' sale of JPMorgan Chase Tower and JPMorgan Chase Center to Cerberus Capital Management and Hines for $627M last year.

Pioneer Natural Resources out of DFW took the 16th spot on the national list with the sale of its Las Colinas headquarters to PRP Real Estate Investment Management for $584M, or $519 per SF. 

A second Houston deal secured the 32nd spot on the list, with Skanska selling its 775K SF Bank of America Tower on Capital Street to Beacon Capital Partners for $415M.

While no other Texas transactions ranked nationally, the state still dominated all office deals recorded in the south last year, with five out of the top 10 regional sales taking place in the Lone Star State, CommercialCafé said in its report

The JPMorgan Chase and Pioneer Natural Resources transactions took the top two spots in the South, followed by the $414M sale of Houston's Bank of America Tower, which ranked sixth. 

Civitas Capital Group's $240M sale of KPMG Plaza at Hall Arts in Dallas to buyer Masaveu ranked seventh on the list, while CIM Group's $220M purchase of Chase Tower in Austin from Goldman Sachs Asset Management ranked 10th across the entire Southern region.