JLL Capital Markets completed the sale of 515 Post Oak, a Class-A office tower totaling 274,583 square feet in Houston’s Galleria submarket.
JLL represented the seller, New York Life Real Estate Investors, and procured the buyer, EY Ventures LLC, a Dallas real estate investment firm.
515 Post Oak is located on a 3.12-acre site just east of the 610 West Loop. This location has excellent regional connectivity via the Loop, as well as Interstates 10 and 59 and The Westpark Tollway. In addition, the asset is located in the Galleria/Uptown submarket, which is heavily amenitized with numerous retail, dining and entertainment options, including Uptown Park, River Oaks District, Highland Village and the Galleria Mall. 515 Post Oak is also close to Memorial Park, one of the city’s recreational areas providing biking, walking, golfing and more.
Originally built in the 1980’s, 515 Post Oak has undergone more than $1M in recent capital improvements and offers tenants top-of-the-line amenities, including a state-of-the-art fitness center, tenant lounge and game room, onsite café, technology equipped conference areas and on-site parking. The property is 74% leased and has experienced strong leasing velocity in the past 12 months.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Jeff Hollinden and Managing Director Kevin McConn.
