JLL secures sale of Lockton Place in Houston, Texas
The Class A,187K SF office property is located in Houston’s Westchase submarket
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.
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 Triten Real Estate Partners
Founded in 2011, Triten Real Estate Partners is a full-service and vertically integrated real estate investment, development, and operating company based out of Houston, Texas with offices covering the nation in Dallas, Los Angeles, Atlanta, and Baltimore. Triten focuses on identifying opportunistic relative-value strategies or unique placemaking investments where value can be created through a tailored experience focused on the changing trends in our industry. Triten is active in development, value-add repositioning, as well as undervalued assets where a mark-to-market arbitrage can be achieved. The company prides itself as being entrepreneurial and flexible to find investments through a disciplined research and market driven approach. For more, please visit: tritenre.com.
About Affinius Capital
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $64 billion in gross assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit affiniuscapital.com.
About Galium Capital
Galium Capital is a Miami-based private equity firm managing a portfolio exceeding $750 million in commercial properties across major U.S. markets. The firm's assets include multifamily, office, and retail properties. Galium Capital is led by Jacques Bessoudo and Iser Rabinovitz.