Jones Lang LaSalle Incorporated : Investors purchase 1111 Fannin office tower in Downtown Houston

HOUSTON - November 30, 2020 - JLL Capital Markets announced today that it has completed the sale of 1111 Fannin, a 17-story, 428,629-square-foot office tower located in the heart of Houston's central business district.

JLL represented the seller, and procured the buyer, Triten Real Estate Partners and Taconic Capital Advisors.

'We are very excited to close on this opportunity with Taconic,' says Scott Arnoldy, Managing Partner at Triten Real Estate Partners. '1111 Fannin represents one of the best redevelopment opportunities in downtown Houston. The project is well-located within the CBD, has direct access to the tunnel system and is steps away from an incredible slate of amenities, including Discovery Green, the Four Seasons Hotel and the Green Street development. More importantly our basis will allow us to offer a completely unique experience at a dramatic discount to current market rents. It's also an attractive option for any user looking to control their own environment.'

'We have selected HPA Architecture out of Chicago to help us conceptualize the possibilities of the building. HPA has worked on notable creative office developments and re-developments across the country including HQ buildings for two of the big five tech companies nationally. We look forward to working with HPA to design an experience that will meet the rapidly changing needs of the market,' continued Arnoldy.

1111 Fannin, which is 100% leased to a single investment grade tenant, features a podium-style design with center-core floor plates that average 31,500 square feet. On-site amenities include a conference center, card key access, 24/7 security and an attached parking garage. The property has direct access to Houston's tunnel network, which features more than seven miles of underground, climate-controlled walkways with retail and dining amenities.

Additionally, the property's location in the heart of Houston's CBD affords it quick access to a variety of amenities and attractions, including The Shops at Houston Center, The George R. Brown Convention Center, Market Square, Minute Maid Park and the Toyota Center. 1111 Fannin also has direct access to Houston's highway system as its centrally located between Interstates 10, 45 and 69, providing connectivity to the greater Houston area.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Dan Miller, Senior Director Martin Hogan and Analyst Ethan Goldberg.

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.