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.

Photo credit: Bisnow Archives/Kyle Hagerty
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.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

The Wideman Co. Buys Downtown Tower From Brookfield: The Houston Deal Sheet

Forget Buildings, Retailers Are Leasing Environments

KKR-Affiliated Data Center Developer CyrusOne Names New CEO

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject