HOUSTON--JLL Capital Markets has closed the sale of 1500 CityWest -- a 192,313-square-foot, class A ten-story office building located in Houston's Westchase submarket -- on behalf of Metro National Corp. Unilev Capital Corp. purchased the property for an undisclosed sum. Unilev Management Corp. will manage the asset.

JLL's managing director Rudy Hubbard, vice president Kevin McConn and associate Rick Goings led the sales team on the transaction.

“The sale of 1500 CityWest is yet another validation of west Houston,” Hubbard told GlobeSt.com. “It's where energy companies and investors want to be.”

This transaction marks the fifth office-building sale the team has had in Westchase since 2013.

“1500 CityWest is one of the best-located class A assets in Westchase,” Hubbard adds. “It offers tenants a premier address adjacent to some of the finest suburban office product in the state at a significant rate discount of about 25 percent. The prominent location at the epicenter of one of Houston's best office submarkets, combined with the attractive tenant base and value-add opportunity led to a very competitive marketing process.”

According to McConn, Unilev has had a presence in Houston since the early '90s.

“They know this market intimately, and moved forward with the transaction despite the sharp decline in oil prices,” he says. “They understand the longevity and resiliency of Houston and, in particular, the Westchase market.”

Built in 1981, 1500 CityWest has benefitted from substantial capital investments in its common areas and infrastructure. The property is located at the intersection of CityWest Boulevard and Briar Forest Drive, with access to the West Sam Houston Parkway and the Westpark Tollway.