DML Picks Sugar Land Office Complex

DML Capital has acquired The Offices at Kensington, a two-building campus in Sugar Land, Texas. Buchanan Street Partners sold the Class A office complex, which totals 171,055 square feet. Commercial Edge reports JLL Capital Markets secured a fixed-rate acquisition loan on behalf of DML Capital for the transaction. A JLL team led by Rick Goings represented the seller. Another JLL team led by Michael Johnson represented the borrower.

Situated at 1600 and 1650 Highway 6, the four-story buildings are 84.1 percent leased. The assets are composed of mainly smaller suites under 5,000 square feet. Completed in 1998, The Offices at Kensington property covers a 9.6-acre lot.

Sugar Land, located in eastern Fort Bend County, is approximately 20 miles southwest of downtown Houston. The town is home to Applied Optoelectronics, ChampionX, Schlumberger, Tramontina USA, Fluor Corporation, and Noble Drilling.