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News release

HOUSTON, TX

JLL Negotiates Two Office Subleases in Sugar Land, Texas

Transactions total more than 20,000 square feet at Sugar Creek on the Lake


HOUSTON, Aug. 17, 2016JLL today announced the firm has negotiated two office subleases totaling more than 20,000 square feet at Sugar Creek on the Lake, located at 14141 Southwest Freeway in the Houston suburb of Sugar Land, Texas.

JLL Senior Vice President Edward Prejean negotiated the terms on behalf of the sublandlord, Money Management International Inc., a Houston-based non-profit credit counseling agency.

  • US Money Reserve Inc., an Austin-based rare coin seller, has leased 10,331 square feet on the second floor of the building. John Hanley of Commercial Real Estate Solutions, LLC represented the subtenant in the transaction.
  • Industrial Info Resources Inc., a Houston-based database solutions provider, has leased 10,200 square feet also on the second floor of the building. Marcus & Millichap's Keith Lloyd represented the subtenant in the transaction.

"We are pleased to add two top-tier tenants to this building through a mutually beneficial transaction like this one," said Prejean. "They have found a terrific home for their business' that benefits from a premier and amenity-rich location within the thriving Sugar Land submarket."

Sugar Creek on the Lake is a Class A office building located approximately 20 miles southwest of Houston's Central Business District. Built in 1982 and renovated in 2013, the building's amenities include a newly outfitted fitness center, upscale delicatessen and park-like setting with a six-acre lake and walking trails.

Bolstered by strong population growth, the Sugar Land office submarket is among the top performing office submarkets in Houston. Year-to-date, it has recorded positive total net absorption of 23,966 square feet, and at just 7.7 percent, the submarket has the second-lowest Class A total vacancy rate of any Houston-area office submarket.

According to JLL Research, Houston currently has more than 11.7 million square feet of sublease space available. The average deal size of sublease transactions in 2016 has been approximately 5,700 square feet.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.   

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 $59.1 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.