Lockton Place_Property for Sale
Lockton Place_Property for Sale
3657 Briarpark Dr, Houston, TX, 77042-5264, US

Lockton Place

Asset Description

JLL Capital Markets, on behalf of the owner, is pleased to present for sale a 100% fee simple interest in Lockton Place ("the Property"), a 92% leased 187,317 SF Class A office property that was built in 2017, and is anchored by Lockton Companies, the world's largest privately held insurance brokerage firm. Lockton Place offers investors stable in-place cash flow supported by 9.7 years of weighted average lease term remaining. The Property features best-in-class design and amenities, including a full service coffee bar and upscale cafe, a modern fitness center with showers and lockers, an exclusive tenant lounge with multiple private meetings areas, and nearby dining and entertainment options. Lockton Place’s favorable WALT, contractual revenues, and diverse tenancy offers new ownership durable in-place cash flow resulting in double digit cash-on-cash yields.

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Attributes

Building area net
187,317 sf
Occupancy
92%
Year built
2017
Land area gross
2.62 acres
WAULT
9.7 years
Building class
A
Investment strategy
Core Plus
Number of floors
8 floors
Parking spaces
742

Media

Investment Highlights

  • DIFFERENTIATED PRODUCT WITH SUPERIOR AMENITY BASE
  • DURABLE CASH FLOW OFFERING ATTRACTIVE CONTRACTUAL YIELD
  • UNIQUE OPPORTUNITY AMONG THE COUNTRY’S HOTTEST LEASING MARKET
  • POSITIONED TO CAPITALIZE ON HOUSTON’S FLIGHT TO QUALITY
  • INSTITUTIONALLY DEVELOPED, OWNED, AND MAINTAINED TO THE HIGHEST QUALITY
  • INDUSTRY LEADING ANCHOR TENANT WITH SIGNIFICANT TERM



Lockton Place 4_Property for Sale
Lockton Place 4_Property for Sale

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Last updated
16 May 2024