{"id":1004768902,"date":"2025-08-20T03:20:47","date_gmt":"2025-08-20T11:20:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004768902"},"modified":"2025-08-20T04:28:30","modified_gmt":"2025-08-20T12:28:30","slug":"novel-sells-houston-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/","title":{"rendered":"Novel Sells Houston Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a4429ceea817&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004768904\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/3555-timmons\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1651052016&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"3555 Timmons\" data-image-description=\"&lt;p&gt;Exterior shot of 3555 Timmons, an office building in Houston.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The previous owner renovated the 15-story building. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\" alt=\"Exterior shot of 3555 Timmons, an office building in Houston.\" class=\"wp-image-1004768904\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The previous owner renovated the 15-story building. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>DML Capital has purchased 3555 Timmons, a 227,064-square-foot office building in Houston. JLL worked on behalf of the buyer to secure acquisition financing through an insurance company.<\/p>\n\n\n\n<p>Novel Office previously owned the asset, according to Yardi Research Data. The firm had <a href=\"https:\/\/www.commercialsearch.com\/news\/novel-buys-226-ksf-houston-office-asset\/\">purchased it<\/a> in January last year from Unilev Capital.<\/p>\n\n\n\n<p>Located at 3555 Timmons Lane, the 15-story building is close to the Greenway Commons shopping mall and 3 miles from The Galleria retail center. Downtown Houston is some 6 miles away, while George Bush Intercontinental Airport is within 25 miles.<\/p>\n\n\n\n<p>At the time of sale, the mid-rise was 95 percent leased. Houston-Galveston Area Council is the property\u2019s anchor tenant, occupying about one-third of the building.<\/p>\n\n\n\n<p>Houston\u2019s office investment volume year-to-date as of June clocked in at $1.2 billion, according to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-maturities-rise-as-vacancies-intensify\/\">Yardi Matrix office report<\/a>. Assets in the metro in the first six months of the year traded for\u00a0$109 per square foot on average, $80 below the national figure.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-investment-activity-picked-up-in-q1-2025\/\">2025 Office Investment Update<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Completed in 1982, the property went through extensive renovations in 2018 and 2024, including amenity modernization and first-floor lobby renovations, as well as restroom and corridor upgrades and the addition of a conference center.<\/p>\n\n\n\n<p>The mid-rise has floorplates averaging 15,060 square feet, five passenger elevators and about 670 parking spaces. Other amenities include a training room and tenant lounge.<\/p>\n\n\n\n<p>JLL Capital Markets Managing Director Michael Johnson and Director Michael King, along with Analysts Scot Sarlin and James Lovell, led the team that arranged the financing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dml-s-recent-office-deals\">DML&#8217;s recent office deals<\/h2>\n\n\n\n<p>Founded in 2012, DML Capital focuses on acquiring retail and office assets, currently managing more than 2 million square feet, exceeding $600 million in value.<\/p>\n\n\n\n<p>In June, the firm <a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-investment-sells-houston-office-building\/\">acquired Reserve at Westchase<\/a>, a 194,919-square-foot Houston property within the Westchase district. Transwestern Investment Group sold the asset completed in 1999.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm acquired the building last year.<\/p>\n","protected":false},"author":3355,"featured_media":1004768904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747,51973],"tags":[32796,44006,39771],"class_list":["post-1004768902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","category-southwest","tag-jll","tag-jll-capital-markets","tag-michael-johnson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Novel Sells Houston Office Tower - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"DML Capital purchased 3555 Timmons, a 227,064-square-foot office building in Houston, from Novel Office, in a JLL-brokered deal.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novel Sells Houston Office Tower\" \/>\n<meta property=\"og:description\" content=\"DML Capital purchased 3555 Timmons, a 227,064-square-foot office building in Houston, from Novel Office, in a JLL-brokered deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-20T11:20:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-20T12:28:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/\",\"name\":\"Novel Sells Houston Office Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\",\"datePublished\":\"2025-08-20T11:20:47+00:00\",\"dateModified\":\"2025-08-20T12:28:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"DML Capital purchased 3555 Timmons, a 227,064-square-foot office building in Houston, from Novel Office, in a JLL-brokered deal.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/novel-sells-houston-office-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/3555-Timmons.jpg\",\"width\":1000,\"height\":750,\"caption\":\"The previous owner renovated the 15-story building. 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