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4/25/14
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Stockdale Capital Partners has purchased Sugar Creek I and II, a 409.2k sf office park in Sugar Land, TX. The asset was sold by Granite Properties and MetLife. The price was not disclosed.
The office property was 96.1% occupied at the time of the acquisition. The project has a park-like setting with an array of nearby restaurants and hotels. On-site amenities include a fitness center, banking, a deli, business conference rooms, 24-hour security and day porters. Sugar Creek has received several awards for its tenant initiatives, management and sustainability.
Sugar Creek is the corporate headquarters of Noble Drilling Corporation and the business address of United Healthcare, the single largest healthcare carrier in the United States. The city of Sugar Land has been repeatedly designated as one of the country’s top suburbs by major media and is known for its quality of home ownership, education and household income.
Rusty Tamblyn and Trent Agnew of HFF represented the seller. Financing was arranged by Jeremy Womack, also with HFF.
The acquisition of Sugar Creek is Stockdale’s second major purchase in the last six months. The previous acquisition was the Galleria Corporate Center complex, a Class A office and retail project totaling approximately 537k sf located in the heart of the Scottsdale Entertainment District.
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