Northstar acquires office building in Texas for $27.4m
Northstar Commercial Partners has acquired a 143,000-square-foot class A office building located at 77 Sugar Creek Center Blvd. in Sugar Land, Texas, for $27.4 million.
The six-story Sugar Creek building sits on more than six acres of land, with covered and surface-level parking. The property currently houses a diverse tenancy of mid-sized offices, with over 35 tenants.
Sugar Land is known for being one of Houston’s most affluent and fastest-growing suburbs and has a wide variety of tenant prospects from oil and gas producers to technology providers.
Since 2010, population growth of Sugar Land has increased 45 percent, alongside annual household income of $151,000, which is 60 percent greater than the Houston metro average.