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News release

HOUSTON

JLL Negotiates 52,145-Square-Foot Industrial Lease at 620 North Houston Avenue

Transaction brings manufacturing facility to 100 percent leased


HOUSTON, Nov. 16, 2016JLL today announced the firm has negotiated a new 52,145-square-foot industrial lease at 620 North Houston Avenue in the Houston suburb of Humble, Texas. Gateway Supply Inc., a supply, procurement and export company, will lease the entire manufacturing facility.

JLL's Mark Nicholas, Richard Quarles and Joe Berwick negotiated the terms on behalf of the landlord, Schroeder Partnership Ltd. Ron Roberson of Caldwell Companies represented the tenant in the transaction.

"Gateway Supply Inc. was attracted to this property because of its crane-served capabilities and ample outside storage," said Nicholas. "The property more than met the requirements of a facility that will support their manufactured cement home operation."

The fenced property encompasses approximately eight acres of land and includes three crane-served buildings. The property's buildings total 52,145 square feet, of which 7,500 square feet is office space.

The property is located in Houston's northeast industrial submarket, which encompasses approximately 30 million square feet of warehouse, distribution and manufacturing inventory. The submarket has recorded positive total net absorption of 307,091 square feet year-to-date and at just 2.2 percent, has the lowest total vacancy rate of any Houston industrial submarket.

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.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company 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. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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.​