InLight Capital has purchased 77 Sugar Creek, a 143,410-square-foot Class A office property located in Sugar Land. According to CommercialSearch.com, the asset was taken to auction following a CMBS foreclosure with CWCapital Asset Management acting on behalf of Wilmington Trust after NorthStar Commercial defaulted on their mortgage held by Wilmington Trust in early 2023. RI Marketplace reported that the auction drew a significant number of bidders.
The six-story building sits on 6 acres close to U.S Highways 59 and Interstate 69 and is 19 miles from Houston city center; it was built in 1998 but underwent cosmetic renovations as recently as 2018. As of August 2020, 66 percent of the space had been leased out to tenants such Wells Fargo Advisors, Lucid Private Offices Summus Industries and Mc Offshore Petroleum among others .
