West Houston Office Property Trades to 1031 Investor
JLL Capital Markets led the sales efforts for Briar Forest Crossing, a 94,404-square-foot office building
HOUSTON, June 12, 2023 – JLL Capital Markets announced today that it has completed the sale of Briar Forest Crossing, a 94,404-square-foot office building in Houston, Texas.
JLL represented the seller, CapRidge Partners, LLC in the off-market transaction. LM & Associates, LLC, a 1031 investor, purchased the property and was represented by Doug Pack with Colliers, who will also be handling the leasing.
Briar Forest Crossing is located at 1300 West Sam Houston Parkway, at the northwest corner of Sam Houston Tollway and Briar Forest in Houston’s Westchase submarket. The office building is convenient to Houston’s Energy Corridor as well as the Galleria and Greenway Plaza business districts. Additionally, the property is just west of The Villages, one of Houston’s most affluent residential neighborhoods.
The four-story building is currently 73.1% leased and serves at the headquarter location for US Physical Therapy. Building amenities include a common area conference center and parking in an attached structured garage.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Marty Hogan.
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.