Office tower in Houston’s Energy Corridor trades to local investor
JLL Capital Markets led sales efforts for One Park 10 Plaza, a 162,919-square-foot office building in Houston, Texas
HOUSTON, May 18, 2022 – JLL Capital Markets announced today that it has closed the sale of One Park 10 Plaza, an eight-story office tower totaling 162,919 square feet in Houston’s Energy Corridor.
JLL represented the seller, Accesso Partners, LLC, and procured the buyer, Interra Capital Group.
Located at 16225 Park Ten Place, the property is within Houston’s Park Ten office park, a 550-acre, master-planned, mixed-use development comprising a major portion of the Energy Corridor. One Park 10 Plaza is highly visible from Interstate Highway 10 and is just west of Highway 6 providing connectivity throughout the Greater Houston area. The surrounding area is home to numerous headquarters locations for many multi-national companies as well as the affluent neighborhoods of The Villages and Westchase.
One Park 10 Plaza has been continuously updated with more than $1.1 million in capital improvements over the last decade and is currently 76.2% leased to a diverse tenant roster. The property sits on a 3.27-acre site and includes a four-story, 560-space parking garage.
The JLL Capital Markets team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 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 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Interra Capital Group
Interra Capital is a boutique private equity and financial advisory firm headquartered in Houston, Texas with investment properties throughout the United States. For more information, please visit: interracapital.com.