NORTHSTAR COMMERCIAL PARTNERS ACQUIRES $15.7 MILLION INDUSTRIAL PROPERTY

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SUGAR LAND, TEXAS — Northstar Commercial Partners has acquired a warehouse and distribution center located in Sugar Land for approximately $15.7 million. The property totals 369,364 square feet and is situated on 21.1 acres within Sugar Land Business Park at 1601 Gillingham Lane. The building features 28- to 38-foot clear ceiling heights and more than 5 acres of outside storage/trailer parking. Two tenants currently occupy the property on a short-term basis. Northstar purchased the property from Amegy Bank, N.A. as a distressed asset. The bank also provided the primary financing for the deal. Bob Berry and Jarret Venghaus of Jones Lang LaSalle represented the seller in the transaction.

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