Office property along Katy Freeway trades to new owner
JLL Capital Markets led the sales efforts for Ten Plaza West, a 105,493-square-foot building in West Houston
HOUSTON, Jan. 7, 2025 – JLL Capital Markets announced today that it has completed the sale of Ten Plaza West, a 105,493-square-foot, Class B office property in West Houston, Texas.
JLL represented the seller, Parkview Financial, in the sale of the property to private investor.
Ten Plaza West is located immediately adjacent to the Katy Freeway/Interstate 10 in Houston’s Energy Corridor, home to many of the city’s top employers. The property is proximate to many of Houston’s top neighborhoods, including Memorial Villages, Katy and Eldridge Oaks. In addition, Ten Plaza West is at the intersection of I-10 and Highway 6 providing connectivity to the George Bush International Airport, Downtown Houston, the Galleria and the surrounding suburbs.
Recently renovated, the six-story property offers a modern lobby and abundant on-site parking for 370 vehicles. The asset is 76% occupied to a variety of tenants, including companies in the oil and gas industry, construction, financial services, law and more.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Marty Hogan.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’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 group 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 111,000 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 Parkview Financial
Based in Los Angeles with offices in New York, Atlanta and Las Vegas, Parkview Financial was founded in 2009 by Paul Rahimian who serves as the firm’s CEO. As a direct private lender, the company provides short-term bridge and construction loans secured by first trust deeds to developers throughout the United States. Parkview manages a debt fund that has originated $4 billion in construction financing since it launched in 2015 with loans ranging from $5 million to $200 million for property types that include multifamily, industrial, retail, residential, mixed-use, conversion and condo.