Tallest towers are keeping their allure

More of Houston’s office buildings are vacant than at any time since the slump of the 1980s, but downtown remains resilient, suggesting many big tenants are still interested in higher quality for a higher price.

Houston’s eight trophy buildings have attracted 64 percent of deals larger than 20,000 square feet since 2016, despite comprising just 36 percent of the skyline inventory, according to a report released Thursday by JLL.

Despite asking rents on average 41 percent above non-skyline Class A office buildings, Houston’s skyline inventory is 19.5 percent vacant, below the marketwide rate of 22.4 percent.

That comes as investor interest in Houston’s office market picks up as well. JLL reported $1.3 billion in total transactions year-to-date, up from just $330 million total sales volume in 2016. period last year. The only three entities that doled out more money were large business organizations: the U.S. Chamber of Commerce ($11.7 million), the National Association of Realtors ($10.9 million) and Pharmaceutical Research and Manufacturers of America ($6 million).