Northstar Commercial Acquires 77 Sugar Creek, Pays $27M

A Denver, CO buyer has paid a Dallas seller $27.4 million for ownership rights of 77 Sugar Creek, a 143,410-square-foot, Class A office building in Sugar Land, TX. Velocis sold the building, formerly known as Two Sugar Creek, to Northstar Commercial Partners less than two years after acquiring it from TA Realty.

Situated on more than six acres, the 20-year-old building is 94% leased, with a mix of tenants. According to its website, Northstar is planning to hold the property for approximately three years.

“I love the Texas market, specifically in and around the Houston area,” said Northstar’s Brian Watson. “. . . 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.”

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