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HOUSTON, July 10, 2018 – JLL today announced the firm has been selected as the strategic leasing partner for 515 Post Oak, a 275,000-square-foot Class A office building in Houston's Galleria/Uptown office submarket.
JLL's Russell Hodges and Bubba Harkins will lead the marketing and leasing efforts on behalf of Spear Street Capital.
"Spear Street is an outstanding owner who has demonstrated an exciting commitment to Houston," said Harkins. "We look forward to partnering with them to build on the strong performance of this asset."
The building is currently 81 percent leased to a range of tenants including law, energy, technology and professional services firms.
Originally built in 1980 and extensively renovated in 2013, 515 Post Oak Blvd. is currently undergoing additional improvements by Spear Street. The latest renovations involve upgrades to the common areas, including new lobby finishes and seating, a custom light feature throughout the length of the lobby, and the addition of a modern, WIFI-enabled tenant lounge complete with wet bar, entertainment and shared workplace areas. 515 Post Oak will also feature a new café concept with a remodeled interior, improved menu and outdoor seating area. Further upgrades are planned for the landscaping and grounds of the building.
Other features of the 12-story building include conferencing facilities, a fitness center, on-site management and convenient access to Houston's Memorial Park.
According to JLL research, the Galleria is one of the only office submarkets in Houston to see a decrease in vacancy, an increase in asking rents and a decrease in sublease space this year. The submarket recorded approximately 350,000 square feet of positive net absorption in the first half of 2018.
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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.
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