Two Woodlands office buildings trade to private asset management firm

U.S. Regulated Equity Markets (Alternative Disclosure) via PUBT

HOUSTON, May 25, 2023 - JLL Capital Markets announced today that it has closed the sale of 10200 Grogans Mill Rd. and 1610 Woodstead Ct., 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 north of 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 plentiful recreation options, including 220 miles of connected hike and bike trails.

10200 Grogans Mill Rd. and 1610 Woodstead Ct. 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.

"While the capital markets are facing a number of headwinds, office assets that are well-located in submarkets like The Woodlands continue to generate significant investor interest," Goings said.

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 25 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2023 06:52:59 UTC.