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HOUSTON, Feb. 6, 2018 – JLL's Capital Markets experts today announced the firm completed the sale of a 93,000-square-foot flex/R&D building at 7207 Gessner Road in Houston. GBP Industrial purchased the building from Goldrich & Kest. The building is fully occupied by Burlington, North Carolina-based LabCorp, a healthcare diagnostics company.
Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell, and Grant Matthews led the JLL team on the transaction.
"The asset's location in the growing northwest Houston submarket, coupled with strong tenancy and recent technology upgrades, made this an attractive offering to the buyer," said Volz.
Houston has seen a notable increase in investor activity over the last year. According to JLL research, there is a significant amount of capital looking for assets in Houston with the thought that the market is in recovery and better yields can be realized relative to other metros.
Originally built in 1997, the two-story, Class B building features ample parking and is located proximate to the U.S. Highway 290 and Beltway 8 interchange, providing convenient access to major Houston highways.
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.
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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 third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 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 ir.jll.com.
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