First Colony Commons sold

​​​​SUGAR LAND – TriGate Capital has acquired First Colony Commons, a 410,121-sf retail center, from Covington Realty Partners.​​​

Located on almost 38 acres at 15201-15555 Southwest Fwy., First Colony Commons is 99 percent leased. Retailers include Home Depot, Babies ‘R’ Us, Office Depot, Michaels, Conn’s, and Tuesday Morning.

HFF represented Covington in the transaction. HFF also placed a five-year, floating-rate, nonrecourse loan with a five-year extension option with NexBank SSB​ on behalf of TriGate.