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JLL negotiates 45,000-square-foot industrial lease in southeast Houston
HOUSTON, April 4, 2018 – On behalf of Klevenberg USA Inc., JLL today announced the firm has negotiated a 44,800-square-foot industrial renewal at East Belt Business Park, 1465 East Sam Houston Parkway in Pasadena, Texas.
JLL's Ryan Fuselier and Travis Secor negotiated the terms on behalf of the tenant. Faron Wiley of CBRE represented the landlord, PPF Industrial 1455-1465 E Sam Houston Parkway, LLC.
A subsidiary of Netherlands-based Klevenberg Shipping Center, Klevenberg USA provides a full line of supplies and materials needed on vessels, for both ocean-going and inland shipping. From its location at East Belt Business Park, Klevenberg USA supplies ships calling on Port Houston.
"Being just a short drive from the Port of Houston Authority, this location continues to serve and support the business operations of Klevenberg USA," said Fuselier.
Built in 2004, 1465 East Sam Houston is a 128,000-square-foot Class A industrial warehouse. The building offers 36 dock-high doors, perimeter fencing and is fully leased.
According to JLL research, the southeast submarket has maintained strong market fundamentals. In the first quarter of 2018, total vacancy and availability were below market-wide averages at 4.6 and 8.3 percent, respectively. Tenant demand is expected to remain high in the southeast due to activity at Port Houston and ongoing petrochemical development.
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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 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 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.
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