HOUSTON, Jan. 8, 2025 - JLL Capital Markets announced today the sale of Lockton Place, a 186,747-square-foot, Class A office building in the Westchase submarket in Houston, Texas.
JLL represented the seller, Triten Real Estate Partners and Affinius Capital, in the sale to Galium Capital.
Completed in 2017, the eight-story Lockton Place is over 96% leased to a diverse tenant roster anchored by Lockton Companies, the world's largest privately held insurance brokerage firm. The property features best-in-class design and amenities, including an upscale cafe, a modern fitness center with showers and lockers, an exclusive tenant lounge with private meetings areas, and a multitude of nearby dining and entertainment options.
Lockton Place is ideally situated in Houston's Westchase submarket, one of the city's most prominent and diverse business districts. Located at 3657 Briarpark Dr., the property offers exceptional accessibility via major thoroughfares, including immediate access to Beltway 8 (Sam Houston Tollway) and Westpark Tollway. This strategic location provides convenient connections to other key business areas such as the Energy Corridor, the CBD and the Galleria.
The JLL Capital Markets team was led by Senior Director Rick Goings and Managing Directors Marty Hogan and Kevin McConn.
"Lockton Place generated significant interest from investors drawn to its best-in-class construction, long-term leases with credit tenants and prime location in one of Houston's most active submarkets," said Goings. "The robust buyer pool we saw for this asset demonstrates the continued strong demand for quality office properties in Houston, particularly those with stable cash flows and value-add potential."
"We are fortunate to have acquired one of the best office buildings in Houston, and we are excited to continue executing on our distressed and opportunistic office acquisition strategy," said Jacques Bessoudo, Managing Partner of Gallium Capital. "The acquisition of a property of this quality is incredible, especially at today's pricing."
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 January 08, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 08, 2025 at 21:27:51.352.
