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News release

HOUSTON, TX

Vigavi Breaks Ground on New Design Build Project in La Porte, Texas

HydroTex announces new 36,000-square-foot manufacturing facility 


HOUSTON, June 2, 2016Vigavi Realty and JLL today announced the firm has completed the sale of a 3.25 acre land parcel at Fairmont Industrial Center for the development of a new 36,000-square-foot design build project. HydroTex, a Chicago-based pump systems and engineering services firm, purchased the parcel located at 11802 Fairmont Parkway in La Porte, Texas.

Yesterday Vigavi Realty broke ground on the project, which is slated for completion by year end. The new manufacturing facility will expand HydroTex's real estate footprint in the Houston area.

JLL Executive Vice President Mark Nicholas and Senior Vice President Richard Quarles negotiated the terms on behalf of the seller, Vigavi Realty.  Lee & Associates' Preston Yaggi and Stephen Kuper represented the buyer. Architect Terry Kennedy, of Munson Kennedy Partnership, and Vigavi Realty will lead the project construction.

"HydroTex was looking for a design build warehouse that would allow them to increase their revenue while taking care of their current employment base. That meant finding a facility with the right location and a turn-key, cost competitive solution. Vigavi´s capabilities and land portfolio were a great match to HydroTex´s requirements," said Vigavi Realty Managing Principal Luis Villareal.

The company's future facility is situated within Houston's southeast submarket, approximately 20 miles from Houston's Central Business District, near the Bayport Container and Barbours Cut Terminals. The southeast submarket encompasses more than 72 million square feet of Houston's industrial inventory. According to JLL Research, the submarket's total vacancy was 4.4 percent at the close of the first quarter of 2016. 

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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About Vigavi Realty, LLC
Vigavi is an owner, operator and developer of Industrial Real Estate in North America. Its industry leading properties and developments usually feature crane-served/ready structures, ample clear heights, high dock-doors, extensive yards, and warehouse expansion capability. The company delivers value to our Clients by offering a product that responds to their supply-chain operations at the best market conditions and maintains a flexible approach to support their business requirements. For further information, visit www.vigavi.com.