HOUSTON-By midyear, $750 million of office assets traded hands in the Houston metro area, setting up a strong year for office investment. The area is expected to end the year with more than $1.5 billion of office sales, according to Delta Associates and Transwestern Commercial Services Inc.’s recent report.

Office investment sales activity reached $2.7 billion in 2004. “Volume is down in 2005 compared to 2004 due to the sale of a number of high-dollar properties in 2004,” Scott Price, national director of research for Delta Associates. “However, volume remains strong … compared to 2001 to 2003 volume.” Last year, Shell Plaza sold for $352 million or $196 per sf.

The average price this year has been $103 per sf versus $128 per sf last year, according to the report. Two years ago, the average price was just $87 per sf, Price points out, adding that it factors out to a 20% increase in 18 months in the Greater Houston area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.