216-acre urban in-fill development site in Houston for sale
JLL named to market the property on behalf of The University of Texas System
HOUSTON, August 26, 2019 – JLL announced today that it has been named by The University of Texas System to market for sale or ground lease an approximately 216-acre, mixed-use development site near the Texas Medical Center and NRG Stadium in southwest Houston, Texas.
The property is less than three miles from the Texas Medical Center, the largest medical center in the world. Additionally, the site is located just south of the 610 Loop with Buffalo Speedway intersecting the property. Potential users for the site include life science companies, Big Pharma and biotech labs, as well as advanced medical manufacturing, public or private institutions of learning, government agencies and religious organizations. The site would also support high-density single-family, multi-housing and senior living uses.
The JLL Capital Markets team representing the seller is led by Managing Director Davis Adams and Senior Managing Director Rusty Tamlyn and also includes Executive Managing Director Scott Galloway and Senior Managing Directors Colby Mueck and Chris Curry.
“It is extremely rare to find a large contiguous development site in a premier infill location in any major market in the United States,” Adams said. “The site is ready for immediate development with proximity to billions of dollars of infrastructure located in the Texas Medical Center.”
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 investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About The University of Texas System
For more than 130 years, The University of Texas System has been committed to improving the lives of Texans and people all over the world through education, research and health care. With 14 institutions, an enrollment of nearly 240,000 students and an operating budget of $21.1 billion (FY 2020), the UT System is one of the largest public university systems in the United States. UT institutions produce more than 60,000 graduates annually and award more than one-third of the state’s undergraduate degrees and more than half of its health professional degrees. Collectively, UT-owned and affiliated hospitals and clinics accounted for more than 8.2 million outpatient visits and 1.6 million hospital days last year. Across UT institutions, research and development expenditures total $2.9 billion – the highest in Texas and second highest in the nation among public higher education systems – and the UT System is regularly ranked among the top 10 most innovative universities in the world. The UT System also is one of the largest employers in Texas, with more than 21,000 faculty – including Nobel laureates and members of the National Academies – and more than 83,000 health care professionals, researchers and support staff.