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JLL Expands Houston Portfolio

Peyton Collins

Peyton Collins

HOUSTON – JLL has expanded its Houston property management portfolio by approximately 1 million square feet with four recent assignments including 1300 Main, the Great Southwest building at 1314 Texas, Westchase Place and 5300 Memorial.

“We look forward to the opportunity to improve and add value at each asset,” says JLL Houston Managing Director Peyton Collins.

The addition of these properties has raised JLL’s total property management portfolio in Houston to 5.9 million square feet.

“We are following through on our vision for significantly growing our property management business line in Houston,” said JLL Houston COO Mary Stanton.

The firm was awarded the property management assignment for 1300 Main Street in the fourth quarter of 2015. The 508,000-square-foot office building is located in Houston’s Central Business District. Built in 1955 and renovated in 1999, the 21-story building includes first floor retail space and a tunnel-connected, 892-space parking garage. The fully-leased building is owned by Dallas-based Energy Transfer Partners. Ellen Pannell will lead the JLL team on the assignment.

In addition, JLL has been tapped for property management of the Great Southwest Building, located at 1314 Texas Avenue. A mainstay in Houston’s Central Business District, the 148,000-square-foot office building was originally built in 1926 and underwent renovations in 2001. Purchased by its current owner in February 2016, the 22-story building features a restaurant on the ground floor.

JLL has also been selected by Dallas-based CREA Investments for property management of Westchase Place, located at 11200 Richmond Avenue. The building is situated in Houston’s Westchase submarket, approximately 20 miles west of the city’s Central Business District. The 151,000-square-foot office building was built in 1999.

Additionally, JLL has been selected by Philadelphia-based Equus Capital Partners to provide property management services to their newly-acquired 150,000-square-foot office building located at 5300 Memorial Drive. The 11-story, office building is three miles west of Houston’s Central Business District.

JLL Senior General Manager Lisa Skelton will lead the property management assignments at both Westchase Place and 5300 Memorial.

March 2, 2016

 

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