Dallas Office Building Sale Hits $295 Million

DALLAS – Crescent Real Estate, a Fort Worth company led by John Goff, has bought the 21-story Texas Capital Center. This marks the largest office sale in Dallas in several years.

Crescent paid about $295 million for the 457,000-square-foot tower, or roughly $646 per square foot. The seller was Germany-based Union Investment, which had purchased the building in 2016 for $236 million.

In a press release, Union Investment said the sale “demonstrates the high quality of our global real estate portfolio.”

The building is currently 83 percent occupied, with Texas Capital Bank as the main tenant. Built in 2008, the tower is at 2000 McKinney Avenue in Dallas’ Uptown area, near Klyde Warren Park.

Goff played a key role in developing Klyde Warren Park, a “deck park” over the Woodall Rogers Freeway. The park has inspired many new upscale developments nearby, including the building housing CBRE’s global headquarters.

Texas Capital Bank also confirmed its commitment by extending its lease early, adding 16 more years and keeping it until 2040.

Crescent Real Estate’s Major Investment

Office Investment Deals Surge in Texas

The sale of Texas Capital Center reflects growing interest from investors in Texas office buildings.

In Houston, the 801 Travis building, a 222,192-square-foot office tower in downtown, was recently sold to an investor represented by Morris Chen.

“Recent Houston office buyers have succeeded by buying properties at reset values,” said Rick Goings of JLL Capital Markets. “This gives them flexibility to improve amenities, make tenant upgrades, and cover leasing costs that boost future profits.”

JLL also managed the sale of a 15-story office building at 3555 Timmons in Houston’s Greenway Plaza. DML Capital purchased the 227,000-square-foot property from Novel Office of Dallas.

Last week, Colliers announced another acquisition. Texas Jewelry District LP bought Westheimer Central Plaza, a 182,506-square-foot, 10-story building in the Westchase area at 11200 Westheimer Road. The seller was Silver Star CRE LLC.

“This purchase shows long-term confidence in the Westchase area,” said James Kadlick of Colliers.

Texas Office Market Shows Growth

Upcoming Real Estate Events

State of Downtown 2025 – Oct. 30, Noon to 1:30 p.m. at 713 Music Hall, POST Houston, 411 Franklin St. About 1,000 business leaders will discuss downtown’s progress. NBC Sports soccer analyst Tim Howard will speak ahead of the 2026 FIFA World Cup.

CommGate Economic Outlook – Oct. 15, 3 to 6 p.m. at Houston Country Club. Economist Ted C. Jones will present forecasts for the coming year, followed by networking. Free for members; $50 for non-members.

Heritage Society Speaker Series – Oct. 7, 6 p.m. at 1100 Bagby Street. Minnette Boesel will speak about reviving Downtown’s Market Square, followed by a wine reception.

Author Profile

Saleem Mubarak: Saleem Mubarak is a journalist and real estate writer who covers Houston’s evolving property market with a sharp eye for local trends and investor dynamics. He focuses on how shifting prices, interest rates, and migration patterns shape the city’s real estate future.

He has interviewed leading real estate professionals to bring readers first-hand insights into Houston’s changing market—from rising investor activity to the influence of social media on property buying.