{"id":1004594897,"date":"2022-08-05T04:00:44","date_gmt":"2022-08-05T12:00:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004594897"},"modified":"2023-04-19T02:20:23","modified_gmt":"2023-04-19T10:20:23","slug":"dfw-office-investments-pick-up-pace-in-q2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dfw-office-investments-pick-up-pace-in-q2\/","title":{"rendered":"DFW Office Investments Pick Up Pace in Q2"},"content":{"rendered":"

\"\"<\/a>Office investments flourished in Dallas-Fort Worth during the second quarter of 2022, according to CommercialEdge<\/strong>: Nearly 8.9 million square feet of office space traded across the Metroplex, with some 3.5 million changing hands in June. The quarterly total was 48.3 percent higher than the one recorded in the first three months of the year, when transacted properties had added up a little over 6 million square feet. The traded square footage was also 61.8 percent higher year-over-year.<\/p>\n

The metro\u2019s deals added up to more than $2.4 billion year-to-date as of June; properties traded at an average $182 per square foot, a price 49.5 percent lower than the national $272 per square foot. The transaction volume manifested solid growth over the year, as office sales had totaled roughly $1.4 billion at an average $261 per square foot in the first half of 2021.<\/p>\n

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Traditional office space attracted the vast majority of investors. Although transactions included all types of property classes, more than 6.1 million square feet pertained to Class A assets. Of the total, 78.6 percent of office investments closed in suburban submarkets.<\/p>\n

From office to residential in Dallas CBD<\/h2>\n

While only six office buildings changed hands in the Dallas CBD, they totaled nearly 4.2 million square feet, representing 47.2 percent of the traded inventory. However, two of the most sizeable assets that sold will see significant office space turn to apartments.<\/p>\n

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Renaissance Tower<\/p><\/div>\n

On a property-size basis, the second quarter\u2019s largest transactions included:<\/p>\n