1900 Pearl Tower Breaks Dallas Sale Record
In 2016 a sale of an office building broke a record paying $504 per square foot. Now the new 1900 Pearl office tower has just sold for $700 per square foot. The sale could raise the values of Dallas skyline properties.
According to Dallas News, “rising commercial property prices in Dallas reflect the higher incomes owners are getting from the buildings. ‘The recent buildings that are selling have in-place rental rates that are 30 to 40% higher than the buildings that established the previous highs,’ Andrew Levy said.”
Property sales have continued to increase in prime areas and don’t show signs of stopping. Below is a list of what some high rise buildings in Dallas sold for.
- Legacy Tower – $400 per square foot
- Granite Park VII – $500 per square foot
- 17Seventeen McKinney – $510 per square foot
- 1900 Pearl – $700 per square foot
To read in more detail about this subject, please click here.