JLL Arranges Sale of Office Asset in Houston
Under its new ownership, Pinehollow Office Park will undergo a capital improvement program that will add retail space to the Class B development.
By Anca Gagiuc
Pinehollow Office Park, Houston, Texas
JLL’s capital markets group announced the sale of 2525 North Loop West, a 136,325-square-foot office building in Houston, also known as Pinehollow Office Park. 2525 Inner Loop L.P. purchased the asset from Lykes Building Holding Associates and Smetana Texas Realty Associates.
The Class B office development is located inside the 620 Loop, near the interchange of Interstate 610 and U.S. Highway 290, which provide easy access to Houston’s business centers. Moreover, the area within a five-mile radius of the property, providing access to a variety of eateries, retail and other services. Amenities include ample parking, conference facilities and on-site property management, all set within the 4.5-acre Pinehollow Office Park.
Retail to come
The new owner, Sean Finn, intends to invest in a capital improvement program in a move to attract medical-office tenants. In addition, he plans to transform the adjacent pad sites on the property into retail space.
Managing Director Rudy Hubbard, Senior Vice President Kevin McConn and Vice President Rick Goings led the JLL team in the transaction.
Image courtesy of JLL
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