JLL Capital Markets arranged the sale and financing of Sugar Park Plaza, a 95,032-square-foot, neighborhood retail center proximate to the Sugar Land, Texas, submarket.
JLL represented the seller, and procured the buyer, Dhanani Private Equity Group, in an off-market transaction. JLL also arranged the five-year, acquisition financing on behalf of Dhanani Private Equity Group.
Sugar Park Plaza is strategically positioned at 11824-11930 Wilcrest Drive, occupying a prime 8.65-acre site at a high-traffic intersection between the thriving Stafford and Sugar Land communities of Houston. The property benefits from its proximity to the Southwest Freeway and Highway 99, while being surrounded by established master-planned residential developments. This top-performing retail center serves the dynamic Sugar Land/Stafford submarket, which has experienced remarkable growth over the past decade and currently supports a population exceeding 429,000 residents within a five-mile radius of the property.
Renovated in 2016, Sugar Park Plaza is one of Houston’s top performing neighborhood centers with more than two million annual visitors. The property features one in-line retail building and three pad sites and is fully leased to 16 tenants with a weighted average tenure of 24 years. The curated tenant mix is anchored by Marshalls and also features Aga’s Restaurant and Catering, Sketchers, Chase Bank, ExxonMobil, and Magnum Staffing. Aga’s restaurant has been at the center since 2001 and has built a strong following. Placer.ai, who tracks foot traffic, ranks Aga’s in the top 10 in Texas by annual visits.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Director John Indelli and Senior Managing Director Ryan West.
JLL’s Debt Advisory team representing the borrower was led by Director Michael King and Managing Director Michael Johnson.
