Northstar Commercial acquired an office property in Sugar Land.
SUGAR LAND – (Realty News Report) – Northstar Commercial Partners, a Denver-based investment firm, acquired the 77 Sugar Creek Center Boulevard, a 143,000 SFoffice building located in Sugar Land, for $27.4 million.
Sugar Creek building, formerly called Two Sugar Creek, houses a diverse tenancy of mid-sized offices, with over 35 tenants and is 94 percent leased. Velocis was the seller..
“I love the Texas market, specifically in and around the Houston area,” said Brian Watson, founder and CEO of Northstar Commercial Partners. “This is a vast and expanding market that many are projecting to surpass Chicago as the third largest city in the United States. Specifically, the Sugar Creek property is a solid building with a covered parking structure, that we plan to continue leasing to quality tenants in a competitive market.”
Since Watson founded the company in 2000, Northstar has closed more than 139 deals, and currently has 48 retail, office, industrial/warehouse, medical, senior care, data centers, and daycare facilities in 15 states under its investment, development, and/or management. The portfolio exceeds $1.4 billion of potential market value.
