Lockton Place | 3657 Briarpark Dr
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Lockton Place 3657 Briarpark Dr
187,317 SF 97% Leased 4-Star Office Building Houston, TX 77042 For Sale
Investment Highlights
- DIFFERENTIATED PRODUCT WITH SUPERIOR AMENITY BASE
- UNIQUE OPPORTUNITY AMONG THE COUNTRY’S HOTTEST LEASING MARKET
- INSTITUTIONALLY DEVELOPED, OWNED, AND MAINTAINED TO THE HIGHEST QUALITY
- DURABLE CASH FLOW OFFERING ATTRACTIVE CONTRACTUAL YIELD
- POSITIONED TO CAPITALIZE ON HOUSTON’S FLIGHT TO QUALITY
- INDUSTRY LEADING ANCHOR TENANT WITH SIGNIFICANT TERM
Executive Summary
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.
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
187,317 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2017
Percent Leased
97%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
23,415 SF
Building FAR
1.64
Land Acres
2.62 AC
Parking
848 Spaces (4.54 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Fitness Center
- Food Service
- Property Manager on Site
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Contact broker for more details.
Contact broker for more details.
Contact broker for more details.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 185 | 1,299 SF | Office | Partial Build-Out | Now |
| 2nd Floor | 1,911 SF | Office | Shell Space | Now |
| 2nd Fl-Ste 275 | 2,504 SF | Office | Full Build-Out | Now |
1st Fl-Ste 185
| Size |
| 1,299 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Floor
| Size |
| 1,911 SF |
| Space Use |
| Office |
| Condition |
| Shell Space |
| Available |
| Now |
2nd Fl-Ste 275
| Size |
| 2,504 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 185
| Size | 1,299 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Contact broker for more details.
2nd Floor
| Size | 1,911 SF |
| Space Use | Office |
| Condition | Shell Space |
| Available | Now |
Contact broker for more details.
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2nd Fl-Ste 275
| Size | 2,504 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Contact broker for more details.
PROPERTY TAXES
| Parcel Number | 1372490010001 | Improvements Assessment | $45,144,542 |
| Land Assessment | $8,572,575 | Total Assessment | $53,717,117 |
PROPERTY TAXES
Parcel Number
1372490010001
Land Assessment
$8,572,575
Improvements Assessment
$45,144,542
Total Assessment
$53,717,117
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Power Broker Rick Goings -
Power Broker Marty Hogan -
Power Broker Kevin McConn -
Zamar Salas -
Donnita Wilson -
JLL
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Lockton Place | 3657 Briarpark Dr
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