Five-building industrial park in Houston trades hands
JLL and NAI Partners brokered the sale of Harms Road Business Park
HOUSTON, January 9, 2020 – JLL Capital Markets announces that it has closed the sale of Harms Road Business Park, a five-building industrial park totaling 124,000 square feet in Houston’s highly sought-after Northwest Industrial submarket.
JLL marketed the property along with NAI Partners on behalf of the seller, United Equities, Inc. Finial Group, in partnership with Senterra LLC, purchased the asset.
Completed in phases between 2014 and 2018, Harms Road Business Park comprises five single-tenant, crane-served industrial buildings. The park features clear heights ranging from 28 to 30 feet, 22 overhead doors, overhead cranes with capacities ranging between 10 and 20 tons and high-quality office space. Situated on 9.37 acres at 7204-7214 Harms Road, the park is less than 2.5 miles from the U.S. 290 and the Sam Houston Tollway (Beltway 8) interchange, which provides tenants with easy access to the Houston MSA. Harms Road Business Park is within Houston’s Northwest submarket, the largest of Houston’s submarkets.
The JLL Industrial Capital Markets team that represented the seller was led by Managing Director Trent Agnew, Director Charlie Strauss and Analyst Ethan Goldberg as well as NAI’s Travis Land.
“Harms Road Business Park is a highly successful development located within the core of Houston’s Northwest submarket,” said Agnew. “Our JLL team, in partnership with Travis, were able to put together an off-market trade that highlights the desirability of opportunities that offer some additional leasing upside in today’s capital markets environment.”
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 more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About United Equities, Inc.
United Equities, Inc. was founded in 1971 as a small brokerage, management and leasing company. Today, the company’s portfolio has grown to include over three million square feet of retail and industrial space. United Equities is a full-service commercial real estate organization providing development, redevelopment, build-to-suit, acquisition, management and leasing services across Texas, in addition to nationwide tenant representation. The Austin office opened in 2004, followed by the Dallas office in 2006, to better meet the needs of an expanding client base. Visit unitedequities.com for more information.
About Finial Group
Finial Group is a full-service commercial real estate firm that provides service focused, turnkey solutions to their client’s commercial real estate needs. The Finial Group offers investment, development, leasing, asset management and construction management services all under one roof. The Finial Group’s team members are dedicated to building the most revered brand in commercial real estate and maintaining an unrivaled reputation for quality of service and ability to execute. For more information please visit finialgroup.com or contact the Finial Group by email at email@example.com or by phone at 713-422-2100.