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Houston Shines in Otherwise Slow Quarter

Although the Houston office market has been struggling as a consequence of crude oil hovering at the $50 per barrel bull/bear line, it remains one of the best six markets for investment in 2018.

Marathon Oil Tower This was the third time the Marathon Oil Tower was put on the market in as many years.

HOUSTON—Texas’ top-four office markets were off to a slow start this year, wrapping up what appears to be one of the worst quarters of the last five years. The 5.6 million square feet of inventory in fewer than 30 closed office deals across the top four markets was the lowest quarterly total since 2013, according to a study by CommercialCafe.

The office market had a total of 22 closed sales since the beginning of the year, totaling $504 million in sales volume for disclosed-price transactions and signaling a 63% decline year-over-year. Prices climbed to an average of $199 per square foot.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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