JLL Capital Markets, as exclusive advisor, is pleased to present the opportunity to purchase Sage Plaza (the “Property”), a modernized, Class-A office tower within the Galleria/Uptown submarket of Houston, Texas. The 25-story, LEED Gold tower measures 530,977 rentable square feet and is currently 64% leased to a diverse collection of tenants for 6.5 years of remaining lease term.
Sage Plaza is located near the main-and-main intersection of the Galleria submarket, San Felipe and Post Oak Blvd. The Property has superior access to Houston's employee base due to the proximity to major thoroughfares, surrounding high-density luxury multifamily, and an affluent residential base in Tanglewood and River Oaks. The location is further enhanced by the surrounding walkable retail amenities. At 4% leased with 6.5 years of WALT, Sage Plaza provides investors stable in-place cash flow at a significant discount to replacement cost, while offering tremendous upside potential through the lease-up of vacant space. Sage Plaza has experienced outstanding leasing velocity in the last 12 months, in part due to over $8 million of capital investment since 2015 dedicated to modernizing the Property, and the bullseye location within the Galleria submarket.
Sage Plaza is equipped with market leading on-site amenities including a state-of-the-art fitness center, a brand new hotel-style lobby, upscale tenant lounge, full scale coffee bar, outdoor seating lounge, 85-person auditorium style conference room, and more. The Property's expansive amenity base is further enhanced by the superior walkability of Sage Plaza within the Galleria.
Sage Plaza represents a unique opportunity to acquire an institutional-quality, Class-A value-add asset with robust contractual cash flow in Houston's preferred infill submarket at an extremely attractive basis.
INVESTMENT SALES ADVISORY
Kevin McConn
Managing Director
Kevin.McConn@jll.com
+1 713 425 5839
Rick Goings
Senior Director
Rick.Goings@jll.com
+1 713 212 6548
Sherri Rollins
Vice President
Sherri.Rollins@jll.com
+1 713 852 3573
Jack Moody
Associate
Jack.Moody@jll.com
+1 713 855 4489
DEBT ADVISORY
John Ream
Senior Director
John.Ream@jll.com
+1 713 425 5919