A six-story Class A office building is rising up near Sugar Creek Center Blvd and Highway 59 as the latest sign of a strong commercial real estate market in Sugar Land.
Three Sugar Creek Center, set for completion in January 2007, will be the first of three new buildings planned for the area by developer Harry Green of Harry M. Green Interests Inc.
Green said there has been a lot of interest in the 152,000-square-foot building but “no deals yet.”
Green is working on the design criteria for the two other 8-story Class A office buildings adjacent to this site, located directly behind the Comerica Bank Building in Sugar Land. Each would be 208,000 square feet. The time frame for the proposed buildings depends on the “reality of leasing the existing building” now under construction, Green said.
The strong demand for Sugar Land Class A office space makes his project viable, Green said. Many Houston companies are looking for space in Sugar Land as office space fills up in the West Chase area along west Loop 610 in Houston, he said.
Sugar Land Class A office space showed a 94% occupancy rate in the second quarter of 2006 based on 15 Class A office buildings, according to Regina Morales, economic development director for the city of Sugar Land.
She sited a number of reasons for strong demand for high-end office space in Sugar Land, including “low tax rates and the availability of an educated work force.”
“With Class A space you’re looking at corporate relocations,” Morales said “They have different types of work force needs and they want to be where educated employees live.”
She added that 59% of Sugar Land residents in the work force have bachelor’s degrees or higher.
Three Sugar Creek Center, set for completion in January 2007, will be the first of three new buildings planned for the area by developer Harry Green of Harry M. Green Interests Inc.
Green said there has been a lot of interest in the 152,000-square-foot building but “no deals yet.”
Green is working on the design criteria for the two other 8-story Class A office buildings adjacent to this site, located directly behind the Comerica Bank Building in Sugar Land. Each would be 208,000 square feet. The time frame for the proposed buildings depends on the “reality of leasing the existing building” now under construction, Green said.
