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Research Points to Another Strong Year for Office Sales

HOUSTON-The Delta Associates team has tracked $750 million in sales this year, down from last year when a number of trophies changed hands. Still, the outlook is bright because there's been a 20% hike in the price per sf since 2003.

By Jennifer D. Duell | Updated on July 25, 2005

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.

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