This Gymnasium (School) commercial property located at 10040 Synott Rd in Sugar Land is a Recreational/Health property, in the 77498 zip code. This property boasts 4626 square feet and is in Average condition. According to CXRE’s research team: since its construction commenced in 2005 Vo Trung & Chau Tran created 4050 SF of improvements. CXRE further estimates Vo Trung & Chau Tran and the property’s previous owners, have realized approximately $102,400 of depreciation on this commercial property. The estimated rental income from this property over the last year was projected to be $0.
CXRE partners with commercial real estate owners and investors like you to grow and improve your assets’ revenues, property management, tenant base leasing, and brokerage acuity. We are the leaders in Sugar Land commercial property real estate sales, service, and property management
About the Sugar Land Commercial Property Real Estate Market
The City of Sugar Land is located about 20 miles southwest of Downtown Houston. This growing Houston suburb has 118,500 residents as of 2020, with more entering the area every month. As the COVID-19 pandemic continues to impact commercial property, particularly in downtown areas, suburban offices remain somewhat insulated from these dramatic downturns.
Prior to the pandemic, Sugar Land saw one of Houston’s largest occupancy rates. Even now, with Houston’s central district facing vacancies rates upwards of 19%, Sugar Land continues to see lower vacancies. Q3 showed vacancy rates in Sugar Land offices at about 12%.
As the pandemic continues to impact the workforce, more businesses are moving to the suburbs, making Sugar Land a popular submarket for investors, property managers, and business owners.
The Sugar Land submarket has a wide variety of commercial properties, most located along I-69 (the Southwest Freeway). Additionally, you’ll discover both Class A office properties and Class B office properties inside and outside this area.
CXRE Sugar Grove Leasing Office
4800 Sugar Grove
Stafford, TX 77477
Tel: (855) 713-2973
Sugar Land Commercial Property Management
CXRE provides professional commercial property management for Sugar Land Commercial real estate owners and investors. Additionally, we handle a wide range of asset types, including office buildings, medical offices, warehouse/industrial commercial real estate, restaurants, and retail centers.
If you need to lease space in Sugar Land, we are your commercial real estate advocate. CXRE’s experienced brokers can assist you with all your Sugar Land commercial real estate needs. Our management services include:
- Commercial Property Management
- Tenant Management and Relations
- Investment Brokerage for Sales/Purchase of Commercial Real Estate
- Re-branding Services
- Sales (Building & Land)
- Landlord Representation Leasing (Building Leasing as Owner’s Rep)
- Monthly Financial Reporting
- Construction Property Management
CXRE is the building owner’s trusted brokerage, property and leasing team.
At the heart of CXRE’s Sugar Land commercial real estate services is commercial property management. We base our property management success on three pillars: deal speed, talent, and a tenant-centric mindset. Undoubtedly, prioritizing these three pillars leads to success.
We have designed our entire In commercial real estate enterprise on these three pillars, setting us apart from other Sugar Land property management providers.
Our team is always ready to accelerate for you.
But what are these three pillars? How can they help you expand your Houston commercial real estate portfolio? Below we unpack each one:
Deal Speed: CXRE Delivers Timely Service
As an investor or property owner, you want someone on your side who will act quickly when necessary. The professional and dedicated experts at CXRE recognizes the importance of deal speed. Regardless of the issue, we’re ready to respond quickly.
Deal speed is a top priority. Therefore, when our clients need us, we act promptly to address the issue. Whether it’s closing a deal or responding to a tenant complaint, our team addresses it quickly to keep your business running smoothly.
Knowledgeable, Capable Talent
We know you want the most capable and experienced team on your side. Therefore, we pride ourselves on hiring the most knowledgeable and capable talent in the Houston commercial real estate sector.
Our brokers, investment professionals, and property management team tailor our services to your investment strategies. Since our goal is maximizing your commercial real estate portfolio, we go above and beyond to provide the best service for our clients and their tenants.
With CXRE on your side, you always have capable advocates to speak and act for you.
Your tenant-centric property management & leasing team.
Our Tenant-Centric Team Prioritizes Your Tenants
Our Tenant-Centric Team Prioritizes Your Tenants
Without tenants, the commercial real estate business crumbles. Having happy tenants is crucial to your success. However, dissatisfied tenants hurt your commercial real estate investments.
With that in mind, when we provide Sugar Land commercial real estate services, we prioritize tenant needs. Our team focuses on excellent communication, great service, and effective solutions for tenant issues.
Our expert leasing and property management teams will identify the ideal tenants for your space, suggest any necessary updates to maximize your earning potential, and create a plan to keep your tenants in your building long-term.
Finding Sugar Land office space doesn’t need to be a challenge for your tenants; let’s put them in your building.
Finding Suitable Sugar Land Office Space
CXRE’s specialists can help you discover suitable office space in the Sugar Land area. CXRE’s team of Texas-licensed commercial agents (TREC Corporate Broker, CXRE LLC, License #9004453) has years of leasing experience. Therefore CXRE agents and brokers know Sugar Land and the other Houston submarkets better than our competitors
CXRE offers a personalized approach for investors, property owners, and businesses. We offer customized Sugar Land commercial real estate services and leasing solutions for all your needs. If you are searching for Sugar Land office space for lease, we are ready to help.
In addition to our office space leasing solutions, we also provide other Sugar Land commercial real estate services. Our full range of services includes energy management, property management, facility financial management, infrastructure management, construction management, and other specialized services.
Our Houston brokers also have experience with medical offices, land brokerage, warehouses, industrial properties, and commercial real estate investment. For assistance with all your office needs in Sugar Land, let CXRE help. Contact us today for more information.
Sugar Land Office Space for Lease
The thriving City of Sugar Land is one of Houston’s up-and-coming suburbs. Situated about 20 miles southwest of Downtown, Sugar Land has 118,500 residents as of January 2020, an increase of more than 70% in just one decade. As Sugar Land continues growing, office space for lease becomes more and more attractive to businesses and office tenants.
As the city continues to grow, Sugar Land office space for lease becomes increasingly attractive to prospective office tenants.
The Legacy of Imperial Sugar
Did you know that the City of Sugar Land’s seal features the Imperial Sugar company’s crown logo? Named after Imperial Sugar’s sugarcane crops and refineries, Sugar Land was founded in the 1910s as a company town. It was then incorporated in 1959.
In more recent years, the city has become a popular place to live. In 2019, the Texas Chamber of Commerce named Sugar Land the 9th best city in the state, out of more than 2,500 cities statewide. Sugar Land won this distinction based on five factors: employment rates and average earnings, housing costs and availability, quality of life, education levels of citizens, and overall health.
Businesses in Sugar Land Need Office Space
Imperial Sugar has kept its headquarters in Sugar Land since its founding in 1843. But Imperial Sugar isn’t the only business in the city. Many other businesses have launched their operations in or relocated to Sugar Land. As a result, the city is a popular Houston office submarket. Specifically, a variety of engineering, software, and product companies operate in Sugar Land. And unsurprisingly, the energy industry has a strong Sugar Land presence. Specifically, Sugar Land is home to:
- CVR Energy, Inc. (a Fortune 500 company)
- Nalco Champion’s Energy Services division
- Western Airways
A Top Business Destination
Over the years, Sugar Land has intentionally expanded its commercial market. Now, the city is a top business destination.
In recent years, two major companies have relocated their Houston-area operations to Sugar Land:
- Schlumberger – As of 2020, the world’s largest oilfield services company was Sugar Land’s third-largest employer. In 1995, Schlumberger relocated some Houston staff to the Sugar Land offices. Then In 2015, the company moved its entire U.S. corporate headquarters to the Houston submarket. Now, Schlumberger occupies a 33-acre campus in the city center. However, with dramatic losses due to the COVID-19 pandemic, Schlumberger has put on hold plans to expand this campus.
- Minute Maid – In 2009, the world’s largest drink and fruit juice marketer relocated its headquarters to Sugar Land Town Square.
Other Companies with a Sugar Land Presence
Many other companies operate out of Sugar Land offices, including some of the city’s biggest employers:
- Fluor Corporation — a multinational engineering and construction firm
- UnitedHealthcare (UnitedHealth Group Inc.) — the world’s largest healthcare company
- First Data Corporation — a financial services company
- Champion X – research and development company
- Methodist Sugar Land Hospital
- HCSS Research and Development
Due to a rise in relocations, Sugar Land office space is becoming more and more desirable. This is partially due to its proximity to Houston. The city also provides easy access to airports and major highways. Affordable housing and competitive wages are drawing more businesses and employees to Sugar Land as well.
More Than Business
Sugar Land is more than simply a good place to live and do business. Sugar Land’s 200,000 SF Smart Financial Centre hosts all sorts of musical artists, Broadway-style productions, comedy acts, and other performances. Since its January 2017 opening, the state-of-the-art, indoor venue has hosted over 1 million guests. It is owned by the City of Sugar Land and operated by Ambassador Theater Group (ATG) and is the only venue of its kind in the greater Houston area
In 2018, Pollstar ranked Smart Financial Centre 9th worldwide in ticket sales for venues under 10,000 seats. Also, the Houston Press ranked the performance center first in Houston’s Hottest Music Venues in 2018.
A Top-Ranked Town
Sugar Land also ranks well in a number of categories. According to Niche, it ranks 24th in the list of Best Suburbs to Live in America as of November 2020. Below are other distinctions for Sugar Land:
- 3rd – Best Suburbs to Live in Texas
- 3rdh – Best Places to Live in Texas
- 5th – Best Suburbs to Raise a Family in Texas
- 6th – Best Places to Raise a Family in Texas
- 25th – Best Suburbs for Young Professionals in Texas
- 9th – Best Suburbs to Buy a House in Texas
- 22nd – Suburbs with the Best Public Schools in Texas
- 22nd – Places with the Best Public Schools in Texas
- 2nd – Best Suburbs to Live in Houston Area
- 2nd – Best Places to Live in Houston Area
- 3rd – Best Places to Raise a Family in Houston Area
- 3rd – Best Suburbs to Raise a Family in Houston Area
- 4th – Places with the Best Public Schools in Houston Area
- 10th – Best Suburbs for Young Professionals in Houston Area
- 4th – Suburbs with the Best Public Schools in Houston Area
- 6th – Best Suburbs to Buy a House in Houston Area
- 8th – Best Places to Buy a House in Houston Area
Office Space for Rent in Sugar Land
Over the past few decades, the Sugar Land & Stafford submarkets have become a regional employment center. In 2020, Sugar Land had 7.9 million SF of office space throughout the city. These commercial offices are often more affordable than office space in downtown Houston. Currently, there are about 4 million square feet of commercial space available across all CRE sectors.
In 2020, Sugar Land had 7.9 million SF of office space throughout the city.
Furthermore, the average annual rent is $21.75/SF for Class B properties and $26/SF for Class A properties. As of 2020, the Sugar Land vacancy rates are about 12%, markedly lower than downtown Houston.
Office Space for Lease
In the thriving and growing areas around Sugar Land, office space is in demand. Currently, the area hosts a number of larger companies as well as smaller businesses. CXRE’s team of professional office experts knows Sugar Land and can help you find suitable rentable office space for your business or company. Contact us today and let us find your next commercial office lease or to learn about our Sugar Land commercial real estate services.
High Office Occupancy Rates in Sugar Land
Sugar Land has one of the highest office occupancy rates of any major Houston submarket. At the end of Q3 2020, occupancy remained at about 88% in Sugar Land, even amid a global pandemic and economic downturn.
This occupancy rate contrasts greatly with downtown Houston, which saw an 80% occupancy rate during the same quarter. The northern suburbs in Greenspoint saw a 45.5% vacancy rate during the same time period.
Despite the economic challenges across the country, Sugar Land office space remains strong.
Factors Contributing to Sugar Land Leasing Trends
- Economic Growth — In the days of Imperial Sugar, the city was a one-company town. However, both the Sugar Land EDC and the Greater Fort Bend EDC have worked hard to attract diverse businesses. And their efforts have paid off. Consequently, Minute Maid was enticed to relocate from the Galleria area to Sugar Land in 2009.
- Fewer Options, Smaller Tenants — Compared to many other commercial submarkets, Sugar Land is small. Yet despite its size, the commercial office market is diverse. Also, this is a newer office market that draws smaller tenants. However, if smaller tenants vacate office space, it doesn’t leave large holes in the submarket.
- Quality-of-life Focus — Sugar Land is sometimes compared to another thriving submarket: The Woodlands. Both places have vibrant town centers, newer schools, ample housing, and plenty of amenities. This includes Sugar Land’s Imperial Market, a $200M development of the old Imperial Sugar Refinery. With so many people working remotely, those who live in the suburbs appreciate the short commute when in-person work is required. Therefore, this focus on quality-of-life makes this town an attractive place to both live and work.
For companies seeking commercial office space, this submarket has much to offer. Let CXRE help you find office space for rent today.
Sugar Land Office Buildings
Sugar Land’s office inventory is spread out amongst over 230 buildings. Many of the city’s office buildings are found along the Southwest Freeway (I-69). Additionally, the Sugar Lakes neighborhood has 5 class A office buildings. In addition, there are 15 class B office buildings in Sugar Lake.
Sugar Lakes’ average annual asking office rental rate is about $20.50 per SF. The average office rate for Class A office buildings is $19.60. For Class B, the average rate is about $21.00. Below is a list of some prominent office buildings and brief details on each:
- 4800 Sugar Grove – 123,570 SF Class B Office building: renovated in 2014
- Sugar Creek I — 193,995SF Class A Office building; completed in 1999
- Sugar Creek II — 143,3971 SF Class A Office building; completed in 2008
- One Sugar Creek — 193,9958 SF Class B Office building; completed in 1984
- Two Sugar Creek Center — 143,410 SF Class A Office building; completed in 1998.
- Three Sugar Creek — 154,251 SF Class A Office building; completed in 2007
- Sugar Creek Place I — 151,772 SF Class B Office building; completed in 1998
- Sugar Creek Place II — 69,011 SF Class B Office building; completed in 2001
- Commerce Green — 119,860 SF Class B Office building; completed in 1999
Sugar Land Virtual Offices
Modern business technology lets people work from almost anywhere. Consequently, workers aren’t limited to certain locations. Not only does this allow companies to hire more employees without expanding office space, but it also allows for socially-distanced workspaces during the COVID pandemic.
A Stanford study found that 42% of all employees are now working from home full-time.
A Stanford study found that 42% of all employees are now working from home full-time. Even after the COVID-19 pandemic is over, many businesses expect employees will continue to work remotely, at least part-time.
Your deals negotiated aggressively, yet with respect.
Types of Sugar Land Virtual Offices
In addition to traditional office spaces, there are also a number of virtual offices in the Sugar Land area. With virtual workspaces becoming increasingly important, many office buildings are adapting to allow safe workspaces for a variety of business owners and employees. As a result, different types of virtual offices are available throughout the Sugar Land area. Workers might find executive, private, or shared spaces. Depending on the facility, a virtual office may offer things like receptionist services, private conference spaces, phone service, teleconferencing, mail and package handling, and even storage. Consequently, prices vary for virtual offices depending on size, location, amenities, and other factors.
Sugar Land is the ideal location to relocate, start, or grow your business. For commercial real estate investors, opportunities abound in this Houston suburb. If you are an investor or business owner looking for Sugar Land commercial real estate services, CXRE is equipped to help you find the ideal space.
Contact us today to learn more about Sugar Land properties.