Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Two Sugar Creek Center, a 143,410-square-foot, Class A office building in Sugar Land, Texas.
The HFF team represented the seller, TA Realty, and procured the buyer, Velocis. The property was sold free and clear of debt.
Located at 77 Sugar Creek Boulevard, Two Sugar Creek Center is positioned on 7.55 acres just one block from Dairy Ashford Road and less than a mile from the Interstate 69 and U.S. 90 interchange. This location places the asset close to many of Sugarland’s premier residential communities, including First Colony, Greatwood, New Territory, River Park and Imperial, and within a short drive of several other primary transportation arteries in the Houston MSA, including Beltway 8, Westpark Tollway and Grand Parkway. Completed in 1999, the six-story, 84.7-percent-leased, suburban office property features on-site conferencing facilities, a two-level, 240-space parking structure and an additional 1.5 acres of developable land.
The HFF investment sales team representing the seller included senior managing director H. Dan Miller and senior director Trent Agnew.
“Two Sugar Creek provides an excellent value-add opportunity through the lease up of 20,000 square feet of vacant space on the top floor, the 1.5 acres of developable land, and located in the best performing submarket in Houston,” said Miller.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at http://velocis.com/.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.