Tag: JLL

Austin office building in prime urban core location trades to new investor

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of and arranged the acquisition financing for Hartland Plaza, a 184,128-square-foot, Class A office asset located in the prime urban core of Austin, Texas.

JLL represented the seller, CIM Group. Additionally, JLL worked on behalf of the buyer to arrange acquisition financing for the transaction.

Built in 1984 and renovated in 2004 and 2017, the four-story Hartland Plaza is 92% leased with 4.4 years of WALT. The building is occupied by a diverse mix of 35 tenants that span 14 different sectors. Notable tenants include AQUILA, Zello, Rev, Munsch Hardt Kopft & Harr and Discovery Practice Management. The property includes a total of 633 parking spaces, which offers a ratio of 3.47 spaces per 1,000 square feet.

Situated at 1717 W. 6th St., Hartland Plaza sits at the intersection of West 5th and 6th Streets and MoPac (180,000 VPD), allowing convenient access to both the affluent neighborhoods of West Austin, including Tarrytown, Rollingwood and West Lake Hills, and Downtown Austin. It is within walking distance to over 15 bars and restaurants, Lady Bird Lake, the Roy and Ann Butler Hike and Bike and more first-class amenities. Additionally, Zilker Park, the University of Texas at Austin, Rainey Street and SOCO District are all within a 10-minute drive.

Sale of suburban Dallas retail center with Sprouts anchor close

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of Twin Creeks Marketplace, a 43,134-square-foot, grocery-anchored retail center located in the Dallas suburb of Allen, Texas.

JLL represented the seller, and an undisclosed investor acquired the asset.

Built in 2016, the 100-percent-occupied Twin Creeks Marketplace is anchored by a Sprouts, which comprises 69% of the total rentable area and boasts an annual visitor count of 265,400. Additional notable tenants include Starbucks, Verizon, ATI Physical Therapy and Advancial.

Situated at 1259 – 1271 West Exchange Pkwy., Twin Creeks Marketplace is less than a three-minute drive from U.S. 75, one of the largest north-south thoroughfares in DFW, and is within proximity to the Sam Rayburn Tollway. The center caters to the surrounding affluent consumer base in Allen with an average household income of $163,230. The immediate area features 1,400,000 square feet of Class A office space, 12,290 Class A multi-housing units, 1,600 hotel keys and 15 schools. Additionally, within five miles of the property is a 327,000 population.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Adam Howells, Senior Director Caroline Binning and Analysts Pauli Kerr and Cole Sutter.

JLL Dallas hires veteran duo to bolster industrial brokerage team

Posted on by Mia Goulart

JLL is proud to announce that Kurt Griffin and Nathan Orbin have joined the Dallas office as managing directors, specializing in landlord and tenant representation.

Orbin and Griffin bring decades of experience in the commercial real estate industry and have closed more than 17 million square feet in industrial leases in the last three years. They are known for unwavering dedication to client service and have earned national and local recognition as top performers, including multiple Top Producer awards.

Both Griffin and Orbin are alumni of The University of Texas at Austin.

  • Kurt Griffin
  • Nathan Orbin

Lucid expands DFW presence with new Class A office

Posted on by Mia Goulart

Lucid Private Offices, formerly known as WorkSuites, has signed a 31,000-square-foot lease at International Business Park located at 6275 W. Plano Parkway. The company will occupy the fifth floor of the newly constructed Class A office building.

JLL’s Trevor Franke and Gini Rounsaville represented Billingsley Company, the landlord, and CRESA’s John Pelletier and Austin Studebaker represented the tenant, Lucid Private Offices.

The five-story office building in the heart of Dallas’ Platinum Corridor features 48,000-square-foot floor plates, large windows, art installations, and balconies on multiple floors. It also overlooks a park with a walking trail and outdoor workspaces. Furthermore, the 10,000-square-foot amenity center next door includes a fitness center, conference center, tenant lounge and mini market.

Phase two of the International Business Park’s expansion will bring an additional 280,000 square feet of space to the market and is set to be delivered in March. The building, with balconies on Floor 4 and 5, will be the largest in the park and is expected to be 20% leased at the time of delivery.

JLL announces new head of agency leasing in Houston

Posted on by Mia Goulart

JLL announced today that Tyler Garrett has joined the Houston office as executive vice president, managing director of agency leasing.

Over the course of his career, Garrett has leased approximately four million square feet of space with a lease value of more than $1 billion. He has held positions as an analyst/associate and director of leasing at local and national commercial real estate firms, and most recently as a senior vice president with Transwestern.

National REIT acquires Austin-area self-storage facility

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of Oak Hill Self Storage, a 709-unit self-storage facility located along W. Hwy 71 in Austin, Texas.

JLL marketed the property on behalf of the seller, The Jenkins Organization, and procured the buyer, Extra Space Storage.

Completed in 2019, Oak Hill Self Storage is comprised of 93,813 rentable square feet and features true Class A construction and amenities. The facility is 97% climate controlled and is equipped with three covered loading zones, automated gate access, oversized elevators to access the upper floors, and a full suite of building features.

Oak Hill Self Storage is strategically located within an affluent area of Southwest Austin that benefits from high barriers to entry, limited competing supply and strong population growth. Positioned on 7.65 acres at 7901 W. Hwy 71, the property offers visibility to more than 23,000 vehicles per day and draws from a growing population of 48,500 residents within a three-mile radius boasting an average household income of more than $162,000.

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