Tag: JLL

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.

Joint venture equity and construction financing arranged for shallow-bay industrial development in North Austin

Posted on by Mia Goulart

JLL Capital Markets announced today that it has arranged the equity and debt placement for Hero Way West, a to-be-built, three building business park totaling 227,200 square feet of Class A, shallow-bay product located in Leander, Texas.

JLL represented the developer, Freehill Development Company, in securing both the joint venture equity as well as the floating-rate construction loan for the project. 

Hero Way West will be designed to cater to small and regional businesses throughout Central Texas and provide best-in-class shallow-bay warehouse space for tenants as small as 8,000 square feet. Situated on 16.8 acres, the development will offer high visibility showroom space along Hero Way with dock-high rear loading, 28-foot clear heights and ample parking. A uniquely attractive combination, further evidenced by the project’s 24,500-square-foot prelease.

The project is located less than a half mile from U.S. Highway 183 in the heart of Leander, Texas, the fastest growing municipality within the Austin MSA over the last decade and the second fastest growing large city in America between 2020-2021 (U.S. Census). Additionally, the property is just 11.5 miles from Interstate 35 and the rapidly growing IH-35 Corridor, which stretches from Mexico to San Antonio-Austin, Dallas-Fort Worth and on to the Northern U.S.

The JLL Capital Markets team was led by Senior Director Charlie Strauss, Director Tom Weber, Senior Managing Director Trent Agnew and Director Josh Villarreal for the joint venture equity placement.  Managing Directors Michael Johnson and Chris McColpin led the JLL Capital Markets team for the placement of construction financing. 

Extra Space purchases self-storage facility in Dallas

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Greenville Self Storage, a 741-unit, climate-controlled self-storage facility in Dallas, Texas.

JLL marketed the property on behalf of the seller, Wentworth Property Company, LLC. Extra Space Storage purchased the asset.

Completed in 2019, Greenville Self Storage totals over 83,000 square feet, which includes 2,100 square feet of retail space. The four-story, Class A facility offers drive-up units, security and personalized access. CubeSmart was previously managing the property, which is currently over 90% occupied.

The property is located at 7557 Greenville Ave. next to Royal Oaks Country Club at the intersection of Walnut Hill Lane and Greenville Avenue in North Central Dallas. The site provides convenient access to Central Expressway and LBJ Freeway, two of the city’s primary thoroughfares, and is visible to more than 30,000 vehicles per day. The area surrounding the property is home to more than 173,000 residents within a three-mile radius, which provides a stable long-term demand base.

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