HOUSTON–Stockdale Capital Partners has purchased Sugar Creek Iand II for an undisclosed sum. The 409,168-square-foot office parkin Sugar Land was sold by Granite Properties and MetLife.

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Sugar Creek houses both the corporate headquarters of NobleDrilling Corp. and the business address of United Healthcare. Thetwo-building portfolio is 96.1% occupied. Amenities include afitness center, deli, conference rooms and bank.

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Sugar Land is one of the strongest Houston submarkets.

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“We are excited to make this substantial investment in SugarLand,” says Stockdale managing principal Steven Yari. “The city ison a very impressive growth trajectory and we believe Sugar Creek I& II will be a direct beneficiary of that growth.”

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HFF's Jeremy Womack secured the financing for the purchase.

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This is Stockdale's second major acquisition in the Southwestarea, in the last six months. As GlobeSt.com reported,CBRE negotiated the sale of Galleria Corporate Centre, a537,110 square-foot, class-A, mixed-use office and retail project,located at 4301 and 4343 N. Scottsdale Rd. inScottsdale. New York-basedJEMB RealtyCorporation sold the 90% occupied building.

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“Given our history and presence in Scottsdale for over 20 yearswe are excited about further investing into the community at such acompelling time in the market. Our partnership with Oaktree makesus equally excited and we look forward to making this investmentopportunity a success for everyone involved,” said StevenYari, managing partner of Stockdale Capital Partners, atthe time of the sale.

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The Los Angeles-based company has recently turned its focus tothe Southwest market, giving special emphasis to metropolitanHouston, Phoeniz/Scottsdale and Southern California.

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Stockdale was unable to respond to questions beforedeadline.

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