InLight Capital recently acquired 77 Sugar Creek, a 143,410-square-foot Class A office property located in Sugar Land. The asset was taken to auction by CWCapital Asset Management on behalf of Wilmington Trust after NorthStar Commercial defaulted on their mortgage in early 2023. RI Marketplace reported that the auction drew a significant number of bidders.
Built in 1998 and renovated cosmetically in 2018, the six-story building sits on 6 acres near U.S. Highway 59 and Interstate 69 – 19 miles from Houston city center – with 66 percent occupancy as of August 2020 due to tenants such as Wells Fargo Advisors, Lucid Private Offices, Summus Industries and Mc Offshore Petroleum among others. InLight Capital’s purchase marks an end to this distressed asset’s journey through foreclosure proceedings initiated by Wilmington Trust earlier this year
