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Building’s broad appeal attracts diverse mix of tenants
HOUSTON, April 11, 2018 – JLL announced today it has completed four leases, totaling approximately 15,000 square feet, at 5300 Memorial in Houston. Plavnicky, Kinzel & Makowski, LLP; Spain, Price, Reader & Thompson, P.C.; Gulf Coast Bank & Trust; and Moleculin Biotech Inc., recently signed leases at the Class A office building, which is now 84.3 percent leased.
JLL's Russell Hodges and Jessica Ochoa represented the landlord, Philadelphia-based Equus Capital Partners, in the transactions.
"5300 Memorial's specialized location and recent building renovation continue to attract a diverse tenant base looking for a Class A office experience in an easily accessible, yet amenity rich setting," said Hodges.
Demonstrating the Midtown office submarket's diverse tenant mix, 5300 Memorial's tenants span the law, energy, financial, technology and real estate industries. The submarket's varied base of end-users and niche location have largely insulated it from the impact of the oil and gas downturn. The submarket recorded 15.5 percent total vacancy and positive net absorption of approximately 120,000 square feet in the fourth quarter of 2017.
5300 Memorial is an 11-story, 153,000-square-foot office building. Features of the property include a five-level, dedicated parking garage, on-site property management and security, card key access, and recently upgraded lighting, finishes and fixtures in the lobby, elevators, restrooms and corridors.
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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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