JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Park Ten Plaza, a 157,759-square-foot, Class-A office located in Houston, Texas.
JLL marketed the property for the seller USAA Real Estate. Fuller Realty Partners and ICP Funds acquired the asset. JLL also worked on behalf of the new owner to secure a loan through East West Bank.
Park Ten Plaza features best-in-class design and amenities, including a new 1,177-square-foot fitness center, an executive level conference room, a lobby and recent HVAC and roof replacements.
Situated at 15115 Park Row in the Energy Corridor, the property is located within the Park Ten Business Park, a 550-acre master planned business park in the heart of West Houston. The office is the only building in the Energy Corridor that is adjacent to a destination entertainment venue, Top Golf, and walkable to a variety of dining options. The Energy Corridor, known as the Central Business District of West Houston, is the third largest employment center in Houston. Additionally, property is 8.4 miles from Westchase District, 5.6 miles from CityCentre, 7.2 miles from Memorial City, 2.8 miles from Texas Children’s Hospital and 2.6 miles from Houston Methodist.
The JLL Capital Markets Investment Sales team representing the seller was led by Senior Director Rick Goings, Managing Directors Kevin McConn and Marty Hogan, and Analyst Jack Moody. Working on behalf of the borrower, Managing Director Cameron Cureton and Senior Managing Director Wally Reid led the JLL Debt Advisory team.