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Wedge Snaps Up Class A Office Bldg. in Sugar Land

Houston Outfit Secures Loan to Acquire 154,000-SF Three Sugar Creek
May 8, 2018
Three Sugar Creek, a six-story, 154,263-square-foot, Class A office in Sugar Land, TX, is under new ownership.

Wedge Properties Management, a private Houston-based investment firm that primarily invests in office properties and hotels, struck a deal with fellow Houston firm Radler Enterprises to acquire the Three Sugar Creek building that sits on 3.07 acres at 3 Sugar Creek Center Blvd. close to the intersection of Highway 69 and U.S. 90.

Completed in 2008, the Class A asset offers 26,000-square-foot floor plates and floor-to-ceiling glass with 10.5- and 9.5-foot finished ceiling heights throughout. Three Sugar Creek was approximately 95 percent leased at the time of sale. Aetna is the building's largest tenant, occupying 26,492 square feet.

H. Dan Miller and Marty Hogan of HFF, working with Radler vice president and principal Tom Radom, represented Radler Enterprises in negotiations. HFF also procured the buyer.

Additionally, HFF’s debt placement team, led by Susan Hill and Wally Reid, arranged a 10-year, fixed-rate acquisition loan on behalf of Wedge.

For more information on the transaction, please see CoStar Comp #4254319.

Kyle Hagerty, Houston Reporter  CoStar Group   
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