JLL Tapped to Manage Houston MOB

LaSalle Investment Management's newly acquired property contains more than 510,000 square feet and is 99 percent occupied. Memorial Hermann Health System anchors the building.
6400 Fannin St.

LaSalle Investment Management has named JLL to oversee management and leasing operations at 6400 Fannin St., a 511,381-square-foot high-rise in Houston. The owner acquired the property for $405 million from Mischer Investments in July, reportedly the highest price ever paid for a medical office building in the country.

The asset is positioned within the Texas Medical Center, the largest medical campus in the world. The 28-story tower is located between the Houston Zoo and Rice University’s campus, within 2 miles of Interstate 69 and the South Freeway.

The building, anchored by Memorial Hermann Health System, is 99 percent occupied by a diverse mix of medical tenants. The asset contains more than 20,000 square feet of retail space on the first two floors, home to Walgreens, Starbucks and Au Bon Pain among others, according to Yardi Matrix. The tower is linked to Memorial Hermann’s adjacent hospital via a skywalk. On-site amenities include a 2,200-car parking structure and common area Wi-Fi.

JLL’s Senior Vice Presidents Chris Wadley and Tim Gregory, along with Associate Emily Asmus will head up the leasing and marketing team. Karen Tucker will serve as property manager.

Image courtesy of JLL