InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Sugar Land. CWCapital Asset Management was the seller.
CommercialSearch.com reports the asset was taken to auction following a CMBS foreclosure, with CWCapital Asset Management acting on behalf of Wilmington Trust. In early 2023, NorthStar Commercial defaulted on a mortgage held by Wilmington Trust. Auction house RI Marketplace reported the auction drew a signifacant number of bidders.
The six-story office property, located at 77 Sugar Creek Center Blvd. was built in 1998. 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. 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.
The post Distressed Sugar Land Office Property Picked by InLight Capital appeared first on Connect CRE.
InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot, Class A office property in Sugar Land. CWCapital Asset Management was the seller. CommercialSearch.com reports the asset was taken to auction following a CMBS foreclosure, with CWCapital Asset Management acting on behalf of Wilmington Trust. In early 2023, NorthStar Commercial defaulted on a mortgage held by Wilmington Trust. Auction …
The post Distressed Sugar Land Office Property Picked by InLight Capital appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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