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News release

Houston, TX

JLL secures loan to refinance Clear Lake Marketplace


HOUSTON, June 12, 2018 – JLL's Capital Markets experts today announced the firm secured a permanent loan to refinance Clear Lake Marketplace, an H-E-B-anchored retail center in the southeast Houston suburb of Clear Lake City.

In addition to H-E-B, tenants of the 265,419-square-foot power center include PetSmart, T.J.Maxx, Ross Dress for Less, Subway, Smoothie King, Ideal Dental, MOD Pizza and Verizon.

Tom Fish, Jimmy Board and Molly Leinsdorf led the JLL team on the financing on behalf of Houston-based Fidelis Realty Partners. A Houston-based life company correspondent provided the fixed-rate non-recourse loan.

"This offering represented a best-in-class grocery-anchored power center situated within a strong demographic area," said Board. "The diverse mix of tenants creates a comprehensive retail destination not provided by other retail centers in the region."

Located at the intersection of Clear Lake Boulevard and El Dorado Boulevard, two of Clear Lake City's main thoroughfares, Clear Lake Marketplace benefits from the strong surrounding demographics of the affluent Clear Lake City master-planned community. The median annual household income within a three mile radius of the property is approximately $105,000.

According to JLL research, Houston's southeast retail submarket remains strong with continued high occupancy. The submarket started the year with approximately 318,000 square feet of positive net absorption and a 5.5 percent vacancy rate.

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 2017 alone, the firm's 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.