{"id":1004679212,"date":"2023-09-11T10:10:19","date_gmt":"2023-09-11T18:10:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004679212"},"modified":"2023-09-12T05:21:06","modified_gmt":"2023-09-12T13:21:06","slug":"inlight-capital-picks-up-houston-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/","title":{"rendered":"InLight Capital Picks Up Houston Office Asset"},"content":{"rendered":"
\"77<\/a>

77 Sugar Creek went through a series of cosmetic renovations in 2018. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

InLight Capital<\/strong> has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s Sugar Land, Texas, suburb. JLL<\/strong>, with the assistance of RI Marketplace<\/strong>, negotiated the deal on behalf of the seller, CWCapital Asset Management<\/strong>.<\/p>\n

The asset was taken to auction following a CMBS foreclosure, with CWCapital Asset Management acting on behalf of Wilmington Trust<\/strong>, CommercialEdge data shows. In early 2023, NorthStar Commercial defaulted on a mortgage held by Wilmington Trust, the same source reveals.<\/p>\n

Built in 1998, the six-story office property is located at 77 Sugar Creek Center Blvd. and features floor-to-ceiling windows, 23,839-square-foot floorplates, three passenger elevators, tenant common areas and 574 vehicle parking spots, according to the same source.<\/p>\n

With cosmetic renovations completed in 2018, the property sits on 6 acres, close to U.S. Highway 59, Interstate 69 and 19 miles from Houston, 25 miles from Pearland, Texas, and within 38 miles of George Bush Intercontinental Airport. As of August, 77 Sugar Creek was 66 percent leased to a variety of tenants, including Wells Fargo Advisors, Lucid Private Offices, Summus Industries and Mc Offshore Petroleum, among others, CommercialEdge shows.<\/p>\n

Senior Director Rick Goings and Senior Managing Directors Marty Hogan and Will Sledge of JLL\u2019s Capital Markets Investment Sales and Advisory team worked on behalf of the seller.<\/p>\n

The property\u2019s auction raised interest from multiple high-quality buyers, RI Marketplace\u2019s Managing Director, Neil McKenna, commented in prepared remarks.<\/p>\n

Earlier in May, JLL brokered a deal involving two office buildings<\/a> in Houston’s Woodlands, Texas, suburb. Totaling 153,294 square feet, the properties were acquired by Black Forest Ventures.<\/p>\n

According to a recent CommercialEdge report<\/a>, office sales across the U.S. totaled $17.5 billion in the first seven months of the year, marking a significant drop of more than 60 percent year-over-year. Houston ranked as the sixth market nationally, with $747 million in office sales volume through July. The metro was followed by Chicago ($658 million) and the Bay Area ($609 million).<\/p>\n","protected":false},"excerpt":{"rendered":"

The property changed hands following a CMBS loan foreclosure.<\/p>\n","protected":false},"author":2991,"featured_media":1004679215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747,51973],"tags":[36513,52162,32796],"class_list":["post-1004679212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","category-southwest","tag-cwcapital-asset-management","tag-inlight-capital","tag-jll"],"acf":[],"yoast_head":"\nInLight Capital Picks Up Houston Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.\" \/>\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\/inlight-capital-picks-up-houston-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"InLight Capital Picks Up Houston Office Asset\" \/>\n<meta property=\"og:description\" content=\"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/\" \/>\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=\"2023-09-11T18:10:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T13:21:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/\",\"name\":\"InLight Capital Picks Up Houston Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg\",\"datePublished\":\"2023-09-11T18:10:19+00:00\",\"dateModified\":\"2023-09-12T13:21:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg\",\"width\":640,\"height\":512,\"caption\":\"77 Sugar Creek\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"InLight Capital Picks Up Houston Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"InLight Capital Picks Up Houston Office Asset - Commercial Property Executive","description":"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"InLight Capital Picks Up Houston Office Asset","og_description":"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.","og_url":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-09-11T18:10:19+00:00","article_modified_time":"2023-09-12T13:21:06+00:00","og_image":[{"width":640,"height":512,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg","type":"image\/jpeg"}],"author":"Simona Tudose","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/","name":"InLight Capital Picks Up Houston Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg","datePublished":"2023-09-11T18:10:19+00:00","dateModified":"2023-09-12T13:21:06+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Houston\u2019s submarket of Sugar Land, Texas.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg","width":640,"height":512,"caption":"77 Sugar Creek"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/inlight-capital-picks-up-houston-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"InLight Capital Picks Up Houston Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/12388-e1694075389559.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004679212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004679212"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004679212\/revisions"}],"predecessor-version":[{"id":1004679787,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004679212\/revisions\/1004679787"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004679215"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004679212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004679212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004679212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}