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Baylor Cancer Center Duke Realty Trust sold the Baylor Cancer Center at Dallas to Physicians Realty Trust for $290 million last year.

DALLAS—The Texas office market had a rather slow fourth quarter, with dollar volume and average prices both falling below the levels of the previous years. Dallas-Fort Worth and Houston were the most active markets during the final three months of the year. Nevertheless, Yardi Matrix office data shows that, while the Lone Star State recorded a less-than-stellar quarter, the whole of 2017 showed average prices reach a five-year peak, as buyers competed to grab quality office assets.

Yardi’s year-end analysis also shows that Dallas-Fort Worth remains the top target for new office construction in Texas, even if office properties in Houston fetch much higher prices. The DFW market welcomed nearly 6 million square feet of new office space during 2017, and is scheduled to deliver an additional 9 million square feet by the end of 2018.

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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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