Investor purchases Woodlands office asset for new headquarters
JLL Capital Markets led the sales efforts for Parkwood II at 10055 Grogans Mill Rd.
HOUSTON – Oct. 10, 2022 – JLL Capital Markets announced today that it has closed the sale of Parkwood II, a five-story office building totaling 101,056 square feet in The Woodlands, Texas.
JLL marketed the property on behalf of the seller and procured the buyer, Gordy Bunch.
Parkwood II offers a park-like campus setting in the heart of The Woodlands. Located at 10055 Grogans Mill Rd., the office property is just north of Woodlands Pkwy and 1.5 miles west of Interstate 45 providing access to the entire Houston metropolitan area. Additionally, Parkwood II is within walking distance to The Cynthia Woods Mitchell Pavilion and is convenient to Market Street, The Woodlands Mall and The Woodlands Waterway, which all offer a variety of retail, entertainment and hospitality options.
The buyer intends to build-out and renovate the entire Parkwood II property for his company TWFG Insurance’s headquarters.
“TWFG is excited to finally have a forever home office centrally located in The Woodlands,” Bunch said. “Over the past 21 years our company has had double digit growth every year and multiple facility expansions to accommodate our needs. The Parkwood II building will become our permanent TWFG home office utilizing the 4th and 5th floors. The remaining three floors will be available for lease to other local businesses. This acquisition comes at a perfect time when TWFG just surpassed $1 billion in annual sales and is experiencing exponential growth.”
The JLL Capital Markets team representing the seller was led by Managing Director Kevin McConn. JLL’s Bryant Lach and Jeff Horton represented the buyer.
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 sales 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. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.