HOUSTON, June 20, 2024 -  JLL Capital Markets announced today that it has closed on the sale of 11000 Equity Drive, a 63,693-square-foot, Class A office building in West Houston, Texas.

JLL represented the seller in the transaction. Satterfield & Pontikes Construction, the original developer of the property, purchased the asset with plans to occupy the entire facility.

Completed in 2006 and renovated in 2019, 11000 Equity Drive is a state-of-the-art, three-story building with efficient floorplates and modern design.

The property is situated within the 150-acre Westway Park, which is located just off the Sam Houston Parkway in West Houston. This location provides tenants accessibility to all of Greater Houston's employment hubs and easy access to some of Houston's most prestigious residential communities, including the Memorial Villages and Tanglewood. Additionally, 11000 Equity Dr. is close to an abundance of retail, dining and entertainment options as well as a handful of business class hotels.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Director Rick Goings and Senior Managing Director Jeff Hollinden.

"West Houston has been the most active leasing market in the country in the last two years, with a total lease transaction volume of seven million square feet," said Goings. "Investor appetite has dramatically increased as the fundamentals on the ground are in stark contrast to the headline narrative around the office market."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL's newsroom.

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Jones Lang LaSalle Inc. published this content on 20 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2024 20:27:45 UTC.