Wedge Buys Sugar Land Office Building, Market briefs

Three Sugar Creek

In Houston, Wedge Properties Management has purchased Three Sugar Creek, a six-story, 154,263-SF Class A office building in Sugar Land, on the southwest side of the Houston area.

The HFF team represented the seller, Radler Enterprises and procured the buyer. Additionally, the HFF team arranged a 10-year, fixed-rate purchase loan on behalf of the buyer.

Three Sugar Creek sits on a 3.07-acre site at 3 Sugar Creek Center Boulevard close to the intersection of Highway 69 and U.S. 90.This location along Highway 69 provides visibility to more than 224,000 vehicles per day.

Completed in 2008, the Class A asset offers 26,000-square-foot floor plates and 95 percent leased.

The HFF investment advisory team representing the seller included senior managing director H. Dan Miller and senior director Marty Hogan. Houston-based Radler Enterprises was represented by Tom Radom.

HFF’s debt placement team representing the borrower consisted of senior managing directors Susan Hill and Wally Reid.