JLL announced today that it has completed the sale and arranged acquisition financing for Sugar Creek Place I, a 151,772-square-foot, Class A office building in the Houston-area community of Sugar Land, Texas.
JLL represented the seller, HighBrook Investors, and procured the buyer, Songy Highroads LLC. Additionally, JLL worked on behalf of the new owner to secure the three-year, floating-rate acquisition financing through an affiliate of Marathon Asset Management, L.P.
Sugar Creek Place I is prominently located at 14100 Southwest Freeway at the corner of Interstate 69 and Commerce Green Boulevard in Sugar Land, one of Houston’s most sought-after and best-performing suburbs. The property has direct access to several primary transportation thoroughfares including Beltway 8, Westpark Tollway, Grand Parkway and U.S. 90, and has convenient access to Sugar Land’s residential communities of First Colony, Greatwood, New Territory, River Park, and Imperial. Recently renovated, the six-story office asset is 86% leased to a diverse tenant roster representing a broad range of business sectors, including energy, real estate, consulting, education, healthcare, and finance.
The JLL Capital Markets team representing the seller was led by Senior Director Martin Hogan and Senior Managing Director Dan Miller.
JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Ed Coco and Directors Matt Casey and Michael Johnson.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge deliver the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
The deal secured by Holliday GP Corp prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
