Houston office sales activity up in 4Q 2012

HOUSTON – Office sales in the Houston area increased in fourth quarter 2012. Colliers and CBRE report 33 office properties changed hands during 4Q 2012 with a sales volume around $908 million.

Recent transactions included:

• Invesco Real Estate’s acquisition of Williams Tower at 2800 Post Oak Blvd. from Hines REIT;
   
• Allianz Real Estate of America’s 50 percent stake of Four Oaks Place for $465 million, or $260 per sf;
   
• Phoenix Tower’s sale to Parkway Properties for approximately $125 million, or $198 per sf;
   
• Brookfield Office Properties and KBR sold KBR Tower to Corporate Property Associates 17 Global Inc. for $175 million, or $167 per sf; and
   
• Pearlmark Real Estate Partners sold 1800 West Loop S. to KBS Strategic Opportunity Fund REIT for $69 million, or $168 per sf.

Read more at GlobeSt.com.