{"id":1004173084,"date":"2017-04-18T02:15:58","date_gmt":"2017-04-18T10:15:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004173084"},"modified":"2022-12-08T09:53:00","modified_gmt":"2022-12-08T17:53:00","slug":"houston-retail-center-trades-with-help-from-hff","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/houston-retail-center-trades-with-help-from-hff\/","title":{"rendered":"Houston Retail Center Trades with Help from HFF"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004173085\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004173085\" data-attachment-id=\"1004173085\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/houston-retail-center-trades-with-help-from-hff\/first-colony-commons-sugar-land-texas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg\" data-orig-size=\"698,350\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D2X&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1175786761&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;12&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"First Colony Commons, Sugar Land, Texas\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg?w=698\" class=\"wp-image-1004173085 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg\" alt=\"First Colony Commons, Sugar Land, Texas\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg 698w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/First-Colony-Commons-Sugar-Land-Texas.jpg?resize=300,150 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004173085\" class=\"wp-caption-text\">First Colony Commons in Sugar Land, Texas<\/p><\/div>\n<p>HFF recently announced that it has closed the sale of First Colony Commons, a 410,121-square-foot retail center with multiple big-box tenants in the Houston suburb of Sugar Land, Texas. The company represented the seller, Covington Realty Partners, as well as the new owner, TriGate Capital,\u00a0in securing a five-year acquisition loan in the amount of $38.2 million.<\/p>\n<p>Jim Curtin, director of HFF, led the debt placement team in securing the floating-rate, non-recourse loan with a five-year extension option through NexBank SSB. The investment sales team was led by Rusty Tamlyn and Ryan West, senior managing directors of the company\u2019s Houston office.<\/p>\n<p>First Colony Commons is situated on a 37.8-acre site at 15201-15555 Southwest Freeway in Sugar Land, on the southeast corner of US Route 59 and Williams Trace Boulevard, approximately 20 miles from Downtown Houston.<\/p>\n<p>At the time of the transaction, the asset built in 1992 was 99 percent leased to a lineup of national and regional retailers including Home Depot, Babies&#8217;R&#8217;Us, Office Depot, Michaels, Conn\u2019s and Tuesday Morning.<\/p>\n<p>\u201c<em>This power center had a lot of moving parts, which presented challenges for buyers and lenders<\/em>,\u201d said Tamlyn in a prepared statement.\u00a0 \u201c<em>TriGate was able to navigate through the issues and will have potential value-add opportunities down the road.<\/em>\u201d<\/p>\n<p><em>Image courtesy of Covington Realty Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company secured a $38.2 million loan for the 410,121-square-foot retail center on behalf of the new owner, while at the same time representing the seller in the transaction.<\/p>\n","protected":false},"author":1192,"featured_media":1004173085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1589,21783,21742,21749],"tags":[35037,32792,35038],"class_list":["post-1004173084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-houston","category-investment","category-latest","category-retail","tag-covington-realty-partners","tag-hff","tag-trigate-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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