North Texas was at the top of the shopping list for commercial property buyers in 2019.
With days left before the end of the year, investors are scrambling to get deals closed and figure out where the Dallas-Fort Worth real estate market is headed in 2020. So far this year, the D-FW area has seen close to $20 billion in commercial property sales, and more transactions are set to finish in the final weeks of 2019. “If you look at the top sales year-to-date in major markets, Manhattan is number one total commercial real estate sales, Los Angeles is number two, San Francisco is number three and Dallas is number four,” said Ted Jones, chief economist with Stewart Title. “Dallas is a phenomenal market.” The biggest North Texas commercial property buy so far in 2019 was the $584 million sale of energy firm Pioneer Natural Resources’ new headquarters in Irving. The office campus was acquired by a partnership of domestic and international investors. And with a sales price of about $700 per square foot, downtown Dallas’ new 1900 Pearl office tower set a new office price record for D-FW. The Arts District high-rise was bought by the State Teachers Retirement System of Ohio for $180 million. Click to read more at www.dallasnews.com.