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HFF Named By Planned Community Developers to Sell Sugar Land Town Square in Sugar Land, Texas

Posted on: Wednesday, 12 September 2007, 18:00 CDT

HFF (Holliday Fenoglio Fowler, L.P.) has been named by Planned Community Developers, Ltd. (PDC) to market the sale of Sugar Land Town Square, a 32-acre, mixed-use town center development located in Sugar Land, Texas.

HFF senior managing director Barry Brown and managing director Robert Williamson will lead the investment sales team on behalf of PCD with assistance from senior managing directors Rusty Tamlyn and Joe Morningstar.

"We believe the current capital environment makes it the right time to bring this superior development to market," said Les Newton, president of PCD. "Our goal is to secure the best possible long-term owner to maintain the high standards of quality established by PCD and the City of Sugar Land." PCD will continue to lease, manage and oversee the final development phases of the project, which includes additional retail and office space.

"This is a unique opportunity to purchase a 'Best of Class' mixed-use development located in the heart of one of the fastest growing suburban communities in the country," said Brown. "The quality of the development is unmatched, as are the superior demographics of the surrounding area. Assets of this caliber just don't come along very often."

Sugar Land Town Square includes 623,352 square feet of Class A office and upscale specialty retail space, and interests in three parking structures that were developed by PCD beginning in 2003. In addition to the office and retail space being offered for sale, the development includes a Four Star 300-room Marriott Hotel and Conference Center, a 167-unit mid-rise residential condominium, the Sugar Land City Hall and a 1.4-acre public plaza that hosts weekly family entertainment venues.

"Sugar Land Town Square is an award winning town center development that will total over 1.3 million square feet upon ultimate completion," said Williamson. "It has a unique combination of uses offering an ideal 'live-work-play' environment for generations to come."

Sugar Land Town Square is located at the prominent intersection of U.S. Highway 59 and State Highway 6 adjacent to First Colony Mall in First Colony, which at 9,700 acres is one of the largest planned communities in Texas. Notable retail tenants within Sugar Land Town Square include Ann Taylor Loft, Bombay, JoS. A. Bank, Right Start, Sharper Image and Z-Gallerie in addition to many upscale and casual restaurants including Chipotle, P.F. Chang's and Starbucks. Notable office tenants include Amica Mutual Insurance, UBS Financial Services, Amegy Bank, Industrial Information Resources, Coffeyville Resources and C.H. Robinson Worldwide.

PCD is a privately-owned real estate firm that has been involved in the development, leasing and management of commercial real estate for over 25 years. Major projects include the 9,700-acre First Colony Master Planned community, River's Edge, a new 370-acre community in Richmond, Texas and Lake Pointe Town Center, a 190-acre, mixed-use development in Sugar Land, Texas.

HFF (NYSE:HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sale and note sales advisory services and commercial loan servicing.

Source: Business Wire

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