Tag: JLL

National investor adds West Texas self-storage facility to its portfolio

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Atlas Self Storage, a 116-unit self-storage facility in Midland, Texas.

JLL represented the seller, Atlas Self Storage, and procured the buyer, KO Storage.

Atlas Self Storage is located at 200 Norman St. just north of Interstate 20 in Downtown Midland. The project sits near a collection of KO Storage facilities and is easily accessible from the majority of Midland’s residential population. The 18,120-square-foot facility was 95% occupied at closing.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Directors Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza.

Sale of student housing community near University of Houston closes

Posted on by Mia Goulart

JLL Capital Markets closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston.

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet. The units include in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of downtown from an upper view deck.

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from Downtown Houston, which features 52 million square feet of office space. The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to downtown. Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.

Two Woodlands office buildings trade to private asset management firm

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of 10200 Grogans Mill Road and 1610 Woodstead Court, two office properties totaling 153,294 square feet in The Woodlands, Texas.

JLL represented the seller, and procured the buyer, a privately held asset management firm.

The two-property portfolio is positioned within The Woodlands, one of the nation’s premier master planned communities located 27 miles from Houston. The area is home to seven Fortune 500 corporate headquarters, boasts top-quality schools and residential neighborhoods, is home to more than 11 million square feet of retail and offers recreation options, including 220 miles of connected hike and bike trails.

10200 Grogans Mill Road and 1610 Woodstead Court sit on a total of 9.85 acres and are 66.7% leased overall. The tenancy is comprised of a diverse mix of industries, including finance, technology, legal services, oil and gas, consulting and logistics.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Director Rick Goings and Managing Directors Marty Hogan and Kevin McConn.

  • 10200 Grogans Mill Road
  • 1610 Woodstead Court

Sale of neighborhood power retail center in Houston closes

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Steeplechase Center, a 195,575-square-foot neighborhood power retail center in Northwest Houston, Texas.

JLL represented the seller, Jones 1960 Crossroads, LLC, and Highland Capital acquired the asset.

The 82% occupied Steeplechase Center is leased to Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pools, Rent a Center, La Reyna Tortilleria, Kim’s Hair Salon, Imperial Foot Reflexology, Iris Nails and Spa, Nancy’s Tailor, Metro PCS, Pho Town, Checkers and Ostioneria Michoacan.

The property is located at 10705-10951 Jones Rd. directly off of Cypress Creek Parkway. The center is approximately a 30-minute drive from Downtown Houston.

The JLL team that represented the seller was led by Senior Director John Indelli and Senior Managing Director Ryan West.

$32.125 million financing secured for multi-housing development outside of San Antonio

Posted on by Mia Goulart

JLL Capital Markets has closed the $32.125 million construction financing for the development of The Virginia, a 198-unit market-rate multi-housing project located in Seguin, Texas.

JLL represented the borrower, Periscope Capital Investment and Verdot Capital, to secure the 15-year, floating-rate loan through a regional bank.

With an anticipated completion in 2024, the three-story project will offer one-, two- and three-bedroom units, averaging 892 square feet. Community amenities will include a best-in-class fitness center, sauna, yoga room and swimming pool, as well as a a recreational patio, a business center, barbeque areas, dog parks and more. A second phase of this project will be delivered in 2025, which will bring the total market-rate units to 424.

Located at 3501 N. Austin St., The Virginia is located thirty minutes east of San Antonio and about an hour south of Austin. The site also features direct access to Interstate 10, which is a direct transportation artery into Downtown San Antonio. Seguin serves as the retail hub for three major counties, Guadalupe, Gonzales and Wilson, and the site provides convenient access to downtown Seguin, which houses the bulk of the retail options. Nearby attractions include ZDT’s Amusement Park, The Seguin-Guadalupe Heritage Museum, Walnut Springs Park and Max Starcke Park and Golf Course.

The JLL Capital Markets Debt Advisory team was led by Director Alanna Ellis, Managing Director Jeff Lepley and Associate Alex Sheaffer.

Sale of northwest Austin multi-housing community closes 

Posted on by Mia Goulart

JLL Capital Markets has arranged the sale of Caliza, a 270-unit, Class A, garden-style apartment community in the northwest Austin suburb of Cedar Park, Texas.

JLL worked on behalf of the seller, Internacional Realty, and Virtus Real Estate Capital acquired the asset.

Built in 2020, Caliza features one-, two- and three-bedroom units with modern finishes, wood-style flooring, custom cabinetry, stainless steel appliances, LED lighting, 14-foot ceilings, private yards and direct access garages. The property features a best-in-class amenity package, including a recently renovated resort-style swimming pool, expansive fitness center and group exercise room, outdoor pavilion with an exterior fireplace and a clubhouse with a catering kitchen.

Situated at 12638 Ridgeline Blvd., the property is within proximity to several highly regarded neighborhoods, such as Anderson Mill, Cypress Mill and Avery Ranch, and is surrounded by some of the city’s most prominent economic drivers, including Austin’s premier mixed-use hub, The Domain and Dell Technology’s campus. The community provides residents with access throughout the metroplex via Highway 183 and Highway 45 and is just six minutes from Westwood High School, one of Austin’s premier high schools known for top-rated academics. Additionally, Caliza is a short drive from Lake Travis.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan McBride and Robert Arzola.