{"id":1004221956,"date":"2018-04-20T05:40:40","date_gmt":"2018-04-20T13:40:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004221956"},"modified":"2022-12-08T22:26:42","modified_gmt":"2022-12-09T06:26:42","slug":"jll-closes-4-office-leases-at-houston-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-closes-4-office-leases-at-houston-asset\/","title":{"rendered":"JLL Closes 4 Office Leases at Houston Asset"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004221968\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004221968\" data-attachment-id=\"1004221968\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-closes-4-office-leases-at-houston-asset\/5300-memorial\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg\" data-orig-size=\"4000,3000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;Peter Molick Photography&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1491202764&quot;,&quot;copyright&quot;:&quot;Peter Molick Photography&quot;,&quot;focal_length&quot;:&quot;19&quot;,&quot;iso&quot;:&quot;64&quot;,&quot;shutter_speed&quot;:&quot;0.1&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5300 Memorial\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;5300 Memorial&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?w=1024\" class=\"wp-image-1004221968 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg\" alt=\"5300 Memorial\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg 4000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=2048,1536 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=150,113 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=696,522 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=1068,801 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=1920,1440 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=560,420 560w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=80,60 80w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/5300-Memorial.jpg?resize=265,198 265w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004221968\" class=\"wp-caption-text\">5300 Memorial<\/p><\/div>\n<p>JLL has completed four leases totaling 15,000 square feet at a Class A office tower encompassing 153,000 square feet in Houston\u2019s Midtown submarket. The new deals bring the property known as 5300 Memorial to 84.3 percent occupancy.<\/p>\n<p>Located at 5300 Memorial Drive, the 11-story building was completed in 1983 and underwent a series of cosmetic renovations in 1993 and 2017, according to Yardi Matrix. The property features on-site property management and security services, recently upgraded lighting, finishes and fixtures in the lobby, elevators, restrooms and corridors, as well as a five-level, dedicated parking garage.<\/p>\n<h2>Committed tenants<\/h2>\n<p>The <a href=\"https:\/\/www.commercialsearch.com\/news\/jll-names-new-leasing-lead-in-houston\/\">JLL team of Russell Hodges<\/a> and Jessica Ochoa represented landlord Equus Capital Partners in the lease negotiations. Additionally, JLL oversees property management at 5300 Memorial. The new lease agreements involved the following tenants:<\/p>\n<ul>\n<li>Plavnicky, Kinzel &amp; Makowski, LLP signed a 5,054-square-foot lease extension, represented by Vincent Gyorgy of NAI Partners;<\/li>\n<li>Spain, Price, Reader &amp; Thompson, P.C. signed a new 4,097-square-foot lease and will relocate from Wortham Tower at 2727 Allen Parkway. Marshall Clinkscales of Colliers International represented the accounting firm;<\/li>\n<li>Gulf Coast Bank &amp; Trust signed a new 3,689-square-foot lease and will relocate from 13105 Northwest Freeway. Avison Young\u2019s Josh LaRocca worked on behalf the tenant;<\/li>\n<li>Moleculin Biotech Inc. signed a new 2,333-square-foot lease and will relocate from 2575 W. Bellfort St. Jane Nodskov with ICO Commercial represented the pharmaceutical company.<\/li>\n<\/ul>\n<p>The asset\u2019s tenant roster spans the law, energy, financial, technology and real estate industries, while the submarket\u2019s varied end-user base and location have mostly shielded it from the impact of the oil and gas downturn, according to JLL. Midtown is situated approximately three miles west of downtown Houston and 5300 Memorial is just half mile north of River Oaks Residential Community.<\/p>\n<p><em>Image courtesy of JLL<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team of Russell Hodges and Jessica Ochoa arranged a series of new deals and lease extensions at the recently upgraded 5300 Memorial.<\/p>\n","protected":false},"author":240,"featured_media":1004221968,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,1589,21742,21747],"tags":[33022,32763,33346,32796,35784,38998],"class_list":["post-1004221956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-houston","category-latest","category-office","tag-avison-young","tag-colliers-international","tag-equus-capital-partners","tag-jll","tag-nai","tag-russell-hodges"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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