Houston vs. Dallas (San Antonio, Austin, Plano: aquatic, teenage, construction)

[dallasboi]

Originally Posted by TexasTallest

But buildings across Houston are selling for over $400 million, not just in downtown. If we had a tower over 1 million square feet sale in the Energy Corridor it would probably go for near record prices given the one percent vacancy. How much did the Tower at City Place sell for? That's in uptown, Dallas' hottest sub market, and is over 1.3 million square feet. Reports that I found peg the sale of the tower at "more than 135 million". Lmao... Looks like it doesn't matter what part of the city these buildings are in, Houston is hotter over all.

Im pretty sure that those are the only two that sold for that much....now dont go overboard

[R1070]

Who cares which city had buildings sell for more? I hope buildings stay cheap in downtown Dallas to help fuel it's growth. Developers will just go out to the burbs and build if prices get too high. There is a different in the core markets for both cities though. Houston has a large downtown market and Dallas has downtown and Uptown with Uptown being the higher dollar market currently. Luckily downtown buildings are still cheaper so that's pushing folks that don't want to pay Uptown prices to look at downtown again.

[TexasTallest]

Originally Posted by dallasboi

Im pretty sure that those are the only two that sold for that much....now dont go overboard

here the two Shell Plaza buildings (1.8 million sq ft) sold for 550 million

Hines, EPCO confirm Shell Plaza sale - Houston Business Journal

this sale puts Heritage Plaza at 475 million

AEW Capital Buying Majority Stake in Heritage Plaza in Downtown Houston in $400 Million Deal at About $413 per SF | Realty News Report

Houstons trophy towers breaking the 400 dollar per square foot barrier

Hess Tower sold for 442.5 million

Hess Tower sells for record price - Houston Business Journal

Greenway Plaza and its 4,200,000 sq ft of office space sold for a billion dollars.

Sale of the century: $1 billion deal for Greenway Plaza - CultureMap Houston

this sale puts the Wells Fargo tower at 510 million

Buyer pays $255M for Wells Fargo Plaza stake - Houston Business Journal


even back in 2007 skyscrapers in Houston were selling for close to 400 million dollars..

Bank of America Center building sale sets new price records - Houston Business Journal



you were saying..?

[TexasTallest]

Originally Posted by R1070

Who cares which city had buildings sell for more? I hope buildings stay cheap in downtown Dallas to help fuel it's growth. Developers will just go out to the burbs and build if prices get too high. There is a different in the core markets for both cities though. Houston has a large downtown market and Dallas has downtown and Uptown with Uptown being the higher dollar market currently. Luckily downtown buildings are still cheaper so that's pushing folks that don't want to pay Uptown prices to look at downtown again.

i assure you, downtown Houston still has some cheap buildings that are prime for redevelopment as well.. heres the 45 story ExxonMobil tower..

San Francisco developer plans major re-do for Exxon Mobil tower wit... - CultureMap Houston

"The price paid for the building was not disclosed, but people in the real estate community said it was around $50 million. By comparison, the Shell Plaza in downtown recently sold for around $550 million."

[majicdonjuan]

Originally Posted by TexasTallest

i assure you, downtown Houston still has some cheap buildings that are prime for redevelopment as well.. heres the 45 story ExxonMobil tower..

San Francisco developer plans major re-do for Exxon Mobil tower wit... - CultureMap Houston

"The price paid for the building was not disclosed, but people in the real estate community said it was around $50 million. By comparison, the Shell Plaza in downtown recently sold for around $550 million."

I can't wait for this renovation to happen. 800 Bell is one of the ugliest buildings in downtown in my opinion.

[TexasTallest]

Originally Posted by majicdonjuan

I can't wait for this renovation to happen. 800 Bell is one of the ugliest buildings in downtown in my opinion.

IMO it could be a real gem (while maintaining most of its original Mid Century Modern design) with a fresh white paint job and maybe the glass cladding be a blue or green color, with the fins converted to balconies for a residential tower, like something out of Miami.

http://www.hydebeachcondohotel.com/w...2-210x210.jpeg

[dallasboi]

Originally Posted by TexasTallest

here the two Shell Plaza buildings (1.8 million sq ft) sold for 550 million

Hines, EPCO confirm Shell Plaza sale - Houston Business Journal...this is two buildings not one

this sale puts Heritage Plaza at 475 million

AEW Capital Buying Majority Stake in Heritage Plaza in Downtown Houston in $400 Million Deal at About $413 per SF | Realty News Report The real 400 mil Sale

Houstons trophy towers breaking the 400 dollar per square foot barrier

Hess Tower sold for 442.5 million

Hess Tower sells for record price - Houston Business Journal The only other real one

Greenway Plaza and its 4,200,000 sq ft of office space sold for a billion dollars.

Sale of the century: $1 billion deal for Greenway Plaza - CultureMap Houston..One of these buildings is in Ft.Worth

this sale puts the Wells Fargo tower at 510 million

Buyer pays $255M for Wells Fargo Plaza stake - Houston Business Journal..:rolleyes:Not 400 milion


even back in 2007 skyscrapers in Houston were selling for close to 400 million dollars..

Bank of America Center building sale sets new price records - Houston Business Journal



you were saying..?

....Most of this is lies u used to prove pour point

[TexasTallest]

Originally Posted by dallasboi

....Most of this is lies u used to prove pour point

how the heck are those lies? did you not read the articles...? or can you not do math? do you know what buying a PERCENTAGE STAKE in a building means? it means buying part of a building, for the same percentage of its worth, as the percentage you are buying. so figure 100% of those stakes to get the total cost of the buildings.

edit: just saw your bolded posts. LOL. you clearly either cannot do math or dont know what a percentage stake means.

you are right about the first one. but that is 1.8 million sq feet, of two old 1970s buildings, for 550 million, compared to your trophy tower from the 80s thats 1.2 million sq feet for less than 200 million. the price per square foot of the Shell buildings was WAY higher than the Fountain Place sale.

clearly 255 million at 50% stake for the Wells Fargo building means that the tower is worth 510 million dollars.

so it looks to me like at least 5 buildings in Houston have sold in the last few years for prices that value them at over $400 million.

[curbur]

Originally Posted by R1070

Who cares which city had buildings sell for more? I hope buildings stay cheap in downtown Dallas to help fuel it's growth. Developers will just go out to the burbs and build if prices get too high. There is a different in the core markets for both cities though. Houston has a large downtown market and Dallas has downtown and Uptown with Uptown being the higher dollar market currently. Luckily downtown buildings are still cheaper so that's pushing folks that don't want to pay Uptown prices to look at downtown again.

If that were the only factor, then Dallas would have more buildings going up this year than Houston.

[Spade]

What is the population of Dallas inside loop 12 and how many square miles is that? Does anyone know. Would be interesting to compare that to loop 610 in Houston.