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Equus Capital Sells 193,998 SF Office Building in Metro Houston to Glazer Properties

One-Sugar-Creek-Center-Sugar-Land-Texas

One Sugar Creek Center in metro Houston was 90 percent occupied at the time of sale.

SUGAR LAND, TEXAS — Equus Capital Partners Ltd., a Philadelphia-based private equity firm with five other offices around the country, has sold One Sugar Creek Center, a 193,998-square-foot office building located in the southwestern Houston suburb of Sugar Land. The asset was sold to Glazer Properties, an investment firm headed by Tampa Bay Buccaneers co-owner Kevin Glazer. The 11-story, Class A property was built in 1983 on 4.5 acres and was renovated in 2017 to feature a new lobby, added security systems, elevator cab upgrades, a new conference center and refreshed landscaping. Additional amenities include a deli, bank branch and an outdoor patio and cornhole court. The property was 90 percent leased at the time of sale to tenants such as Comerica Bank, Wholesome Sweeteners and Amerex Brokers Natural Gas. Christopher Locatell, Mark Ledger and Greg Chapin of Equus handled the transaction for their firm along with Dan Miller, Marty Hogan and Johnny Kight of HFF.

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