Boutique Class A office building trades in Houston, Texas
JLL Capital Markets led the sales efforts for 11000 Equity Drive in West Houston
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.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Satterfield & Pontikes Construction (satpon.com) is an ENR top 400 company and offers a full range of preconstruction, construction and consulting services to both public and private clients. The company began in 1989 and provides a number of delivery methods, including General Contracting, Construction Manager at Risk and Design-Build. S&P is considered an innovator in construction management systems and has pioneered numerous technological advancements across its solid portfolio of wide-ranging projects, including educational, transportation, healthcare, commercial, governmental as well as retail distribution and manufacturing facilities. In addition to Satterfield & Pontikes Construction, the S&P family of companies includes seven specialty construction subsidiaries including Eagle Contracting, Rollcon, Westway Construction, Greco Structures, Pontikes and Rocket Concrete Pumping and Prolégo. In addition to its headquarters in Houston, S&P has offices in Dallas, Austin and San Antonio and business units in New York and Los Angeles.