{"id":1004334755,"date":"2019-06-27T06:13:20","date_gmt":"2019-06-27T14:13:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004334755"},"modified":"2019-06-27T06:13:20","modified_gmt":"2019-06-27T14:13:20","slug":"houston-area-office-building-trades-for-27m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/houston-area-office-building-trades-for-27m\/","title":{"rendered":"Houston-Area Office Building Trades for $27M"},"content":{"rendered":"<div id=\"attachment_1004194831\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004194831\" data-attachment-id=\"1004194831\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/velocis-annexes-two-sugar-creek-to-its-office-portfolio\/two-sugar-creek-sugar-land-texas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg\" data-orig-size=\"667,500\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Two Sugar Creek, Sugar Land, Texas\" data-image-description=\"&lt;p&gt;Two Sugar Creek, Sugar Land, Texas&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Two Sugar Creek, Sugar Land, Texas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg?w=667\" class=\"wp-image-1004194831 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg\" alt=\"Two Sugar Creek, Sugar Land, Texas\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg 667w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004194831\" class=\"wp-caption-text\">77 Sugar Creek Blvd. <i>Image courtesy of Velocis<\/i><\/p><\/div>\n<p>Northstar Commercial Partners announced it has acquired 77 Sugar Creek Blvd., a 143,000-square-foot Class A office building in the Houston suburb of Sugar Land, Texas, for $27.4 million. Private equity real estate manager Velocis previously owned the six-story property, which it had&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/velocis-annexes-two-sugar-creek-to-its-office-portfolio\/\">acquired from TA Associates Realty<\/a> in October 2017.<\/p>\n<p>More than 35 tenants with mid-sized premises occupy the 1998-built property, previously known as Two Sugar Creek. The building, which offers floor plates of 23,839 square feet, has a vacancy rate of approximately 7.5 percent. The asset sits on more than 6 acres of land and offers covered and surface-level parking.<\/p>\n<p>Prior owners include Grubb &amp; Ellis\u2014which sold the building to TA Associates Realty in 2011\u2014and Transwestern\u2014which offloaded the property in 2004.<\/p>\n<p>The competitive Sugar Land market is home to an array of tenants in sectors ranging from technology to oil and gas production. Glazer Properties <a href=\"https:\/\/www.commercialsearch.com\/news\/equus-capital-sells-houston-area-office-asset\/\">bought up the 193,998-square-foot office building<\/a> One Sugar Creek Center just down the street from Equus Capital Partners in May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Northstar Commercial Partners bought a 143,000-square-foot Class A asset in Sugar Land, Texas, from Velocis. The property was roughly 7.5 percent vacant at the time of sale.<\/p>\n","protected":false},"author":744,"featured_media":1004194831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747],"tags":[40370,37486,39030,38048],"class_list":["post-1004334755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","tag-brian-watson","tag-grubb-ellis","tag-northstar-commercial-partners","tag-ta-associates-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Houston-Area Office Building Trades for $27M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/houston-area-office-building-trades-for-27m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Houston-Area Office Building Trades for $27M\" \/>\n<meta property=\"og:description\" content=\"Northstar Commercial Partners bought a 143,000-square-foot Class A asset in Sugar Land, Texas, from Velocis. The property was roughly 7.5 percent vacant at the time of sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/houston-area-office-building-trades-for-27m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-27T14:13:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Two-Sugar-Creek-Sugar-Land-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"667\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Isaacson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/houston-area-office-building-trades-for-27m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/houston-area-office-building-trades-for-27m\\\/\"},\"author\":{\"name\":\"Greg Isaacson\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1a92010198045e41b0b801129a41b3d8\"},\"headline\":\"Houston-Area Office Building Trades for $27M\",\"datePublished\":\"2019-06-27T14:13:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/houston-area-office-building-trades-for-27m\\\/\"},\"wordCount\":181,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/houston-area-office-building-trades-for-27m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/10\\\/Two-Sugar-Creek-Sugar-Land-Texas.jpg\",\"keywords\":[\"Brian Watson\",\"Grubb &amp; 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