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News release

HOUSTON, TX

Healthcare Provider Remains Committed to The Offices at Pin Oak Park

JLL negotiates three office extensions totaling 28,500 square feet in Houston


HOUSTON, Sept. 19, 2016JLL today announced the firm has negotiated three office lease extensions totaling 28,500 square feet at The Offices at Pin Oak Park in Houston, Texas.

JLL's Samuel Slovacek and Louis Rosenthal negotiated the terms on behalf of the tenant. Transwestern's Brandy Bellow Spinks and Scott Carter represented the landlord, a joint venture of Griffin Partners and Investcorp.

Kindred at Home, a provider of clinical home health, hospice and community care services and a division of Kindred Healthcare Inc., extended office leases of 6,700 and 5,100 square feet at 6700 West Loop South and an office lease of 16,700 square feet at 6750 West Loop South.  

"The Offices at Pin Oak Park continues to support the business objectives and meet the office requirements of these healthcare providers," said Rosenthal. "Current market conditions enabled them to secure competitive terms and maintain operations without interruption to their employees' work and most importantly, their patients' care."

Located in Houston's Bellaire office submarket, proximate to the Galleria and Texas Medical Center, The Offices at Pin Oak Park is a five-building office campus that benefits from excellent visibility and access from the 610 West Loop. The property's amenities include on-site property management, dining facilities, banking with lobby and drive thru service, a car wash, 24-hour security service and free visitor parking.

While one of Houston's smallest office submarkets, Bellaire has remained largely insulated from Houston's recent downturn. At just 9.3 percent, the Bellaire office submarket had the lowest Class A and B direct vacancy rate of any Houston-area office submarket, according to second quarter reports from JLL Research. Moreover, the submarket recorded positive Class A net absorption of 1.9 percent at mid-year.  

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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 $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.