Imperial Sugar Trims One, Adds Two to For-Sale Roster

SUGAR LAND, TX-Locally based Imperial Sugar has sold a 4,860-sf tract at 131 Brooks Rd. in Sugar Land, a southwestern suburb of Houston. The property is part of a $21-million portfolio of non-core assets being marketed nationwide.

Bill Byrd and Robert S. Parsley, both of the Houston office of Colliers International, represent Imperial Sugar in the nationwide disposition. Byrd tells GlobeSt.com that the buyer, MPC LLC, is a group of Houston-area investors. They were represented by Jim Miller of InterCapital Builders. Byrd’s not talking about the selling price.

The asset shuffling has put two more onto the disposition list: a 140,000-sf sugar refinery situated on 100 acres in Clewiston, FL and a 65,000-sf industrial warehouse in Indianapolis.

To date, Imperial has sold 53,127 sf of industrial structures sitting on 4.2 industrial acres in St. Louis and the May sale of 15.5 acres in Sugar Land to Katmor Realty Two Ltd. Another 850 acres of agricultural and industrial land in Woodland, CA are under contract. Imperial Sugar is using proceeds to reduce debt. Imperial Sugar’s “to go” list for Texas also includes more small tracts in Sugar Land, about seven acres in Arlington’s Great Southwest Industrial Park and 1,402 agricultural acres, housing a manufacturing plant, in the town of Hereford. The disposition list also contains 1,120 acres in Tracy, CA, which carrying agricultural and industrial zoning; 14 industrial acres in Visalia, CA; and 30 industrial acres in Savannah, GA.