JLL Capital Markets arranged the sale and financing of Reserve at Westchase, a 194,919-square-foot, Class-A office property in West Houston, Texas.
JLL represented the seller, Transwestern Investment Group, in the sale of the property to DML Capital, LLC. Additionally, JLL worked on behalf of DML to secure insurance company financing for the acquisition.
Reserve at Westchase is located at 3250 Briarpark Dr. close to Beltway 8 and Westpark Tollway in Houston’s Westchase submarket. This area of the city is largely considered to be the new population center as West
Houston has grown more than 155% over the past 30 years, compared to 86% growth in the Houston metro. As a result, numerous corporations have relocated their headquarters here given the proximity to major thoroughfares and in-demand residential neighborhoods, including The Villages, Spring Branch, Briar Forest and River Oaks.
Originally built in 1999, the four-story Reserve at Westchase building has undergone significant renovations over the past five years. The property offers a recently built first-floor tenant lounge and conference center and a parking garage with 804 spaces. Reserve at Westchase is 76% leased to anchor tenants Mattress Firm, Yang Ming and Taylor Morrison.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Kevin McConn.
JLL’s Debt Advisory team included Managing Director Michael Johnson and Director Michael King.
