Investor purchases southeast Houston office building

HOUSTON, Sept. 19, 2024 – JLL Capital Markets announced today that it closed the sale of Atrium Crest, a six-story, 107,529-square-foot office building in Clear Lake, Texas.

JLL represented the seller, Fullerton Properties, and procured the buyer, who was represented by Patrick Hill of Colliers.

Atrium Crest is located at 18333 Egret Bay Blvd. in Clear Lake, a community in southeast Houston that is home to NASA’s Johnson Space Center, driving both aerospace employment and tourism. In addition to NASA, southeast Houston has a diverse economic base comprising companies in medical, technology, logistics, tourism and the booming petrochemical industry. The 4.23-acre site is convenient to Interstate 45, providing access north to Houston and south to Galveston Island. Additionally, the Port of Houston is just a short drive from the property, which is the busiest container port on the Gulf Coast.

Renovated in 2004, Atrium Crest has a flexible layout that can accommodate a wide variety of users and space requirements. The property is currently 79% leased to a variety of tenants.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Marty Hogan.

“Atrium Crest offered a significant value-add opportunity through the lease-up of vacant space while acquiring the asset at an extremely competitive basis,” said Hogan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Established in 2010, Fullerton Properties is a well-capitalized private real estate company primarily focused on value-add equity placement throughout the US. Fullerton’s experienced investment team specializes in complex underwritings and equity commitments in a short timeframe.