DML Capital has recently acquired The Offices at Kensington, a Class A office complex in Sugar Land, Texas. The two-building campus spans 171,055 square feet and was sold by Buchanan Street Partners. According to Commercial Edge reports, JLL Capital Markets secured a fixed-rate acquisition loan for the transaction on behalf of DML Capital. Rick Goings led the JLL team representing the seller while Michael Johnson led another JLL team representing the borrower.
The four-story buildings are located at 1600 and 1650 Highway 6 and currently have an occupancy rate of 84.1%. Most of its tenants occupy smaller suites under 5,000 square feet. Built in1998 on a spacious lot spanning over nine acres, The Offices at Kensington is well-positioned for success.
Sugar Land is situated approximately twenty miles southwest of downtown Houston in eastern Fort Bend County. It boasts notable companies such as Applied Optoelectronics, ChampionX,Schlumberger Tramontina USA Fluor Corporation,and Noble Drilling among others making it an ideal location for business growth.The recent acquisition by DML Capital further solidifies Sugar Land’s status as a thriving commercial hub.
