NAI Partners: Dec. 2017 Houston Office Market Snapshot

GREATER ​HOUSTON – ​Here are some December ​office market highlights​ from Houston Office Market Snapshot​ from NAI Partners:

The largest commercial property in Houston CBD was sold.

• Brookfield Asset Management acquired the Houston Center, a 4.2 million-sf office and retail complex. 
• The 9.2-acre, 6.5-block property includes five properties along Fannin St. and McKinney St. and Lamar Ave., including three high-rise office towers and a 16-story office building over 196,000 sf of retail space.

Office sales volume are up 137 percent year-over-year.

• Real Capital Analytics data reports YTD office sales volume in the Houston area at $3.8 billion, a year-over-year increase of 137.6 percent. 

Also, The Greater Houston Partnership is cautiously optimistic about job creation and the Houston economy for 2018.