JLL Arranges Sale of Venture Tech VIII in The Woodlands to Capital Legacy Partners From Rycore Capital
JLL Capital Markets has arranged the sale of Venture Tech VIII, a 70,212-square-foot single-story office building located at 8708 Technology Forest Place in The Woodlands, Texas. Capital Legacy Partners acquired the property from an affiliate of Rycore Capital, with JLL representing the seller and procuring the buyer.
Deal Overview: Rycore Capital Sells Venture Tech VIII to Capital Legacy Partners
Built in 1998, Venture Tech VIII sits on an 8.2-acre site within the Venture Tech Business Park, just northwest of The Woodlands Town Center. The property offers direct walk-up access to office suites and 262 parking spaces. At the time of sale, the building was 87.3% leased with a weighted average lease term of 3.9 years. The buyer, Capital Legacy Partners, was represented by Brent Everson.
The JLL Capital Markets Investment Sales and Advisory team representing Rycore Capital included Managing Directors Marty Hogan and Kevin McConn.
"Venture Tech VIII represents a compelling value-add opportunity within Houston's premier suburban office submarket," Hogan said. "The property's single-story design, strong location and attractive basis below replacement cost position the new owner to successfully execute a lease-up strategy and capture meaningful upside."
Property and Location Details
Venture Tech VIII is positioned approximately six minutes from I-45, one of Houston's primary thoroughfares, with access from Research Forest Drive. The Woodlands itself is a 28,500-acre master-planned community situated 27 miles north of Houston and roughly 20 minutes from George Bush Intercontinental Airport.
The property's single-story configuration and suburban location align with a broader 2026 trend in which office assets featuring walk-up design and proximity to major employment nodes have continued to attract investor interest even as the wider office sector contends with elevated vacancy and uneven demand.
The Woodlands Office Market Context
The Woodlands has maintained a vacancy rate of 13.8%, the lowest in the greater Houston area, within a submarket inventory of 14.9 million square feet. No new construction is currently underway in the submarket, a supply constraint that has supported leasing velocity as companies prioritize locations near their workforce.
By comparison, Houston's broader office market recorded vacancy of 26.5% in the first quarter of 2026 before improving to approximately 23.7% in the second quarter, reflecting positive absorption but still-soft conditions relative to The Woodlands. That divergence reinforces the value-add lease-up thesis that JLL articulated for Venture Tech VIII: an asset priced below replacement cost in a supply-constrained submarket with room to grow occupancy.
Capital Legacy Partners is a privately held commercial real estate investment firm that targets office and multifamily assets with value-add potential, combining disciplined underwriting and active asset management. Rycore Capital is a Houston-based real estate investment manager with approximately $450 million in assets under management, focused on income-producing properties across value-add, core-plus and core return profiles.
About the Firms
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. The group's services include investment sales and advisory, debt advisory, mergers and acquisitions, loan sales, equity and fund placement, net lease, derivative advisory and energy and infrastructure advisory. JLL reported $6.93 billion in revenue for the second quarter of 2026 and $13.31 billion for the first half of the year.
Rycore Capital offers two investment platforms — fund management and direct investment advisory — and targets high-net-worth, family office and institutional investors. Capital Legacy Partners invests with a long-term perspective across office and multifamily property types, emphasizing capital structuring and asset management throughout the investment lifecycle.
Sources
JLL Newsroom: Venture Tech VIII in The Woodlands Trades to New Owner