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News release

Houston, TX

JLL completes sale leaseback of industrial headquarters in northwest Houston

Strong demand for distribution centers spurs sale of 133,480-square-foot building


HOUSTON, Oct. 5, 2017 – JLL's Capital Markets experts today announced the firm completed the sale and leaseback of a 133,480-square-foot industrial distribution facility at 7350 Langfield Road in Houston, Texas.

Denver-based Industrial Property Trust (IPT) purchased the property. The seller of 7350 Langfield owns both Warrior Creek Realty, the entity that sold the property, and T&L Distributing, the tenant occupying the entire building. T&L Distributing will leaseback 100 percent of the property from IPT.

Senior Vice Presidents Dustin Volz and Kevin McConn, Vice President Zane Marcell and Associate Grant Matthews led the JLL team on the sale leaseback.

"We are seeing sustained demand for quality distribution space in Houston, particularly in the northwest industrial submarket," said Volz. "Industrial Property Trust owns a number of surrounding assets near 7350 Langfield and were interested in acquiring more properties in the area. The resulting transaction brought value to both the buyer and seller."

In addition to its Houston headquarters, flooring distributor T&L Distributing has seven regional warehouse locations serving Texas, Oklahoma, Louisiana, Mississippi, New Mexico and Arkansas.   

Expansion in the consumer goods sector brought on by consistent population growth, has resulted in sustained demand for quality distribution space in Houston. In particular, the northwest industrial submarket has been a destination for owners and users of warehouse and distribution facilities in recent years. In the second quarter of 2017, the northwest led all submarkets in occupancy growth, recording approximately 775,000 square feet of positive net absorption, according to JLL research.

Features of 7350 Langfield include 34 dock high doors, 30-foot clear heights, outside storage, and convenient access to U.S. Highway 290 and Beltway 8.

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 a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.