Investor purchases southeast Houston office building
JLL Capital Markets led the sales efforts for Atrium Crest, a 107,529 SF office building in Clear Lake, Texas
HOUSTON, Sept. 19, 2024 – JLL Capital Markets announced today that it closed the sale of Atrium Crest, a six-story, 107,529-square-foot office building in Clear Lake, Texas.
JLL represented the seller, Fullerton Properties, and procured the buyer, who was represented by Patrick Hill of Colliers.
Atrium Crest is located at 18333 Egret Bay Blvd. in Clear Lake, a community in southeast Houston that is home to NASA’s Johnson Space Center, driving both aerospace employment and tourism. In addition to NASA, southeast Houston has a diverse economic base comprising companies in medical, technology, logistics, tourism and the booming petrochemical industry. The 4.23-acre site is convenient to Interstate 45, providing access north to Houston and south to Galveston Island. Additionally, the Port of Houston is just a short drive from the property, which is the busiest container port on the Gulf Coast.
Renovated in 2004, Atrium Crest has a flexible layout that can accommodate a wide variety of users and space requirements. The property is currently 79% leased to a variety of tenants.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Marty Hogan.
“Atrium Crest offered a significant value-add opportunity through the lease-up of vacant space while acquiring the asset at an extremely competitive basis,” said Hogan.
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.
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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 110,000 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.
About Fullerton Properties
Established in 2010, Fullerton Properties is a well-capitalized private real estate company primarily focused on value-add equity placement throughout the US. Fullerton’s experienced investment team specializes in complex underwritings and equity commitments in a short timeframe.