HOUSTON-Jones Lang LaSalle's Capital Markets has completed the sale and financing of Ashford Place, a two-building, office portfolio in Houston's highly desirable Energy Corridor. Insite Realty Partners, L.P. purchased the property from CW Capital Asset Management LLC.

The two class B atrium office buildings totalling 143,505-square-foot are located at 950 Threadneedle Street and 14800 St. Mary's Lane with superior access and visibility along Interstate 10 (Katy Freeway). They have benefited from rapidly increasing rental rates and increased occupancy over the last 18 months. Ashford Place is 86% leased with a significant opportunity to create value in a rising market as occupancy increases and by capturing the upside in a below-market rent roll as leases expire.

Managing directors Rudy Hubbard and Paul House and VP Kevin McConn led the Jones Lang LaSalle team.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.

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