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News release

Houston, TX

JLL completes sale of 2525 North Loop West

New owner to implement capital improvement plan, initiate retail development


​HOUSTON, Oct. 30, 2017 – JLL's Capital Markets experts today announced the sale of 2525 North Loop West, a 136,325-square-foot office building in Houston. 2525 Inner Loop, L.P. purchased the property from Lykes Building Holding Associates and Smetana Texas Realty Associates.

Managing Director Rudy Hubbard, Senior Vice President Kevin McConn and Vice President Rick Goings led the JLL team on the transaction.

Sean Finn, the new owner, plans to implement a capital improvement program with hopes of attracting medical-office tenants. He also plans to bring retail space to the adjacent pad sites on the property.

This property complements previous investments made by Finn in the area, including 2707 and 2727 North Loop West and the 24-acre Brookhollow Campus at 4400-4550 Dacoma St. These assets amount to more than 1 million square feet of investment in the immediate area.

Located just inside the 610 Loop, near the interchange of Interstate 610 and U.S. Highway 290, 2525 North Loop West offers convenient access in and out of the city and to Houston's multiple business centers. The surrounding area provides a variety of amenities including abundant eateries, retail and services within a five-mile radius of the property.

Features of the Class B office building include ample parking, conferencing facilities and on-site property management, all set within the 4.5 acre Pinehollow Office Park.

Houston's office market has seen a marked increase in investment activity this year. Even with the continued slowdown in leasing activity and rising vacancy, investors have re-entered the market with the thought that better yields can be realized in Houston relative to other major metros. Year-to-date transaction volume is approximately $1.47 billion, a significant increase over 2016, which recorded just $330 million worth of transactions.

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 $145 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.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more content including 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 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.