Tag: JLL

JLL announces new head of agency leasing in Houston

Posted on by Mia Goulart

JLL announced that Tyler Garrett has joined the Houston office as executive vice president, managing director of agency leasing. With nearly two decades of experience in real estate, Garrett will lead the region’s landlord representation team with a focus on driving key initiatives to continue JLL’s growth in the market.

Last year, Garrett was named Houston HOLBA’s Broker of the Year for 2021, a top honor for agency leasing brokers. Garrett also led one of the largest office leasing deals in 2022, representing landlord Cousins Properties in leasing 328,000 square feet to Apache for their new headquarters at Briarlake Plaza.

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 from associate to director of leasing director of leasing at local and national commercial real estate firms.  Most recently he was senior vice president with Transwestern.

Garrett has also been recognized for his professional achievements, including being named a Houston Business Journal “Heavy Hitter” from 2017-2022 and a CoStar “Power Broker” for the last five years.

Investor picks up Class B office building in Houston’s Energy Corridor

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of 12012 Wickchester, a 109,473-square-foot, Class B office building in Houston’s Energy Corridor.

JLL marketed the property on behalf of the seller, CapRidge Partners, LLC, and procured the buyer, Woodside.

12012 Wickchester is located directly north of the Katy Freeway between Kirkwood Rd. and N. Eldridge Pkwy in West Houston. The 3.7-acre site is positioned in the heart of the Energy Corridor, Houston’s third largest employment center boasting many 500 companies and multi-national energy companies as well as proximity to some of the city’s wealthiest executive neighborhoods in the Memorial Villages. In addition, the property is close to a significant amenity base highlighted by Town & Country Village, CITYCENTRE and Memorial City.

Renovated in 2021, 12012 Wickchester offers six stories of office space with an on-site deli and a 3.5/1,000 structured parking garage. The building caters to smaller multi-suite floorplans and excels by providing tenants with a Class A Energy Corridor location. The property was 61% leased to a diversified stable of tenants at time of sale.

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

JLL strengthens tenant rep team with strategic new hire in Dallas

Posted on by Mia Goulart

Jason Dodson has joined the firm’s tenant representation team in Dallas as senior vice president.

In his new role at JLL, Dodson will specialize in office tenant representation, while also servicing clients across a range of asset classes. Dodson will join the Dallas tenant representation team led by Bret Hefton and Torrey Littlejohn.

Prior to joining JLL, Dodson served as senior director at Cushman and Wakefield, where he spent more than six years providing tenant representation services and advising corporate clients with local and multi-market site selection, acquisitions, dispositions and lease and purchase negotiations.

Dodson is active in the Dallas community, volunteering at The Stewpot, Habitat for Humanity, and Reading Partners.

Dodson earned a bachelor’s degree in business administration with a concentration in business law from Loyola Marymount University.

Big Sky secures $190 million financing for 10 healthcare properties across four states

Posted on by Mia Goulart

JLL Capital Markets announced today that it has arranged approximately $190 million acquisition financing for 10 healthcare properties totaling 857,779 square feet. 

JLL worked on behalf of the borrower, Big Sky Medical Real Estate, in securing the five-year, floating-rate loan from a bank syndication led by Capital One Healthcare.

The properties, which are collectively 87% occupied, serve a wide range of healthcare uses, including outpatient medical office buildings, ambulatory surgery centers, diagnostic imaging centers and more. The portfolio includes:

  • Pyramids North, 9201 North Central Expressway, Dallas, Texas
  • Pyramids South, 9101 North Central Expressway, Dallas, Texas
  • Providence Park, 2501 Earl Rudder Freeway, College Station, Texas
  • Greenpark MOB, 7515 Main St., Houston, Texas
  • Peninsula Orthopedic Associates, 1675 Woodbrooke Dr., Salisbury, Maryland
  • Tidal Health Cardiology, 400 Eastern Shore Dr., Salisbury, Maryland
  • Pelican Professional Center, 42388 Pelican Professional Park, Hammond, Louisiana
  • Texas A&M Health Science Center, 8441 Highway 47 West, College Station, Texas
  • Peak Surgical Center, 610 North Coit Road, Richardson, Texas
  • Valley Ortho & River Surgical Institute, 609 East Orangeburg Avenue, Modesto, California

JLL’s 2022 Healthcare and Medical Office Perspective highlights that patients are moving to sunbelt states and retirement markets such as Texas, Louisiana and California at exponential rates creating more demand for medical office buildings. As a result, medical office occupancy has ticked upwards as demand intensifies in a moderate construction environment which has gradually increased rents for the 11th quarter in a row.

The JLL Capital Markets team representing the borrower was led by Managing Directors Timothy Joyce and John Chun and Director Anthony Sardo.

CanTex sells shallow bay industrial portfolio in East Dallas

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of a five-property Class B shallow bay portfolio totaling 689,497 square feet in East Dallas, Texas.

JLL represented the seller, CanTex Capital, in the sale.

“We are proud to have completed this sale and outperformed investment expectations for our partners. We look forward to continuing to aggressively acquire, redevelop and reposition industrial assets throughout the Dallas/Fort Worth market,” said Romit Cheema, CEO of CanTex Capital.

The portfolio offers a mix of single- and multi-tenant warehouses ranging in suite sizes from 19,000 square feet to 184,000 square feet. Currently, the portfolio is 100% occupied by six tenants across a wide range of industries, including ADCO Industries, Hill & Smith, Inc. and ProLift Rigging Company. The buildings offer varying loading types, 18- 30-foot clear heights, up to 34 dock-high doors and ample parking.

The properties are located at:

  • 11221 Pagemill Road, Dallas
  • 11333 Pagemill Road, Dallas
  • 2917 Oakland St., Garland
  • 1515 Big Town Blvd., Mesquite
  • 3914-3920 U.S. Hwy 80, Mesquite

The properties are positioned on a total of 47.40 acres at infill locations with significant barriers to entry and immediate connectivity to Dallas-Fort Worth’s primary commercial and residential hubs, transportation arteries and major infrastructure. Additionally, shallow bay product consistently outperforms bulk industrial in the Dallas-Fort Worth metroplex, with average occupancy in the mid-to-high 90s and 6.4% average annual rent growth.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

Lake Washington Partners acquires industrial property in Dallas

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Tradepoint 20/45, a newly-completed 418,000-square-foot industrial building in Dallas.

JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Tradepoint 20/45, which was completed in early 2022, offers 36-foot clear heights, 60-foot deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from Downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport. The property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.