$180M 1900 Pearl Sale Sets New Texas Record

The State Teachers Retirement System of Ohio paid almost $700 per square foot — approximately $180 million — to acquire the 25-story 1900 Pearl high-rise office building in downtown Dallas. The sales price is believed to be the highest paid per square foot of any Texas office property. An Austin high-rise previous had the state title, at more than $650 per square foot.

Goldman Sachs sold the 261,000-square-foot property, which was developed by Lincoln Property Co. Cushman & Wakefield handled the sale of the building, which was designed by HKS. Major tenants in the building include Steward Health, Maverick Capital, Husch Blackwell and Baker McKenzie.

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