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Cash or Check? Tampa Bay Bucs Owner Buys Sugar Land Office Tower: No Bank Loan Required

A Sugar Land office building, located at Dairy Ashford and the Southwest Freeway, has been sold.

SUGAR LAND, Texas – (Realty News Report) –  One Sugar Creek Center, also known as The Comerica Bank Building, a 194,000-SF office building 19 miles southwest of downtown Houston has been acquired by Kevin Glazer, founder and CEO of Glazer Properties.

Glazer, co-owner of the NFL’s Tampa Bay Buccaneers, inspected and closed the deal in 37 days.

Paying “with cash” – or utilizing internal funds – allows Glazer to close quickly. “Without any financing contingencies, or convoluted approval processes Kevin Glazer’s acquisitions are always closed expeditiously,” said a press release about the deal. Glazer’s portfolio includes Class A office and retail properties across the nation.

In addition to his NFL team, Glazer also owns the famous Manchester United Soccer Club in England.

The 11-story One Sugar Creek building, which is 90 percent leased, is near the intersection of the Southwest Freeway and US Highway 90.

HFF’s Dan Miller, Martin Hogan and Johnny Kight represented the seller, Equus Capital Partners of Philadelphia.

Recently renovated in 2017, building’s tenants include Comerica Bank, Wholesome Sweetners, Amerex Natural Gas and Alamo Environmental.  The tower is located at Dairy Ashford Road in Fort Bend County. Years ago, the area was known for producing sugar and the Imperial Sugar company was founded there in 1843.

June 3, 2019 Realty News Report Copyright 2019

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