Georgia Investor Acquires 152K-SF Sugar Creek Place I

Songy Highroads closed on Sugar Creek Place I, a 151,722-square-foot, Class A office building in Sugar Land, TX. The Atlanta buyer came to an agreement with the seller, listed as Sugarcraft Owner LLC, based in New York City. The six-story building at 14100 Southwest Fwy. was 86% occupied at the time of sale.

According to SHR’s Foster Durkee, the value-add investment strategy appealed, due to the steady population growth and diverse employment of Sugar Land, which is in the southwest quadrant of the Houston metro. “We will look to implement a targeted, strategic capital plan to further improve the asset, and make it one of the top options for tenants in Sugar Land,” he added.

Planned upgrades will include a new conference area, tenant lounge and common areas, renovated lobby and corridors and a four-story structured parking garage. Transwestern Commercial Services has been retained to handle leasing.

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