As Sugar Land comes closer to a complete build-out, areas for commercial property and retail development are becoming more scarce. One of the last hotspots for commercial interests sits on nearly 190 acres at University Boulevard and Hwy. 59—what is known as the Telfair Commercial District.

Colliers International's Houston division is marketing the available tracts at the freeway interchange for Newland Communities—the developer behind the master-planned community of Telfair.

"The Telfair commercial tracts along the freeway represent one of the very best suburban commercial development opportunities in the state," said Charlie Herder, co-chairman and principal with Colliers' Houston division.

The Telfair commercial district currently houses the University of Houston—Sugar Land campus, the new Texas Instruments headquarters, the Houston Museum of Natural Science at Sugar Land and several incoming retailers. Herder said once sold out, the property is expected to bring more than $1 billion in new capital investments along with thousands of new employees to the area.

Other possible tenants include restaurants, retailers, additional office and medical buildings, and a full-service hotel, Herder said.

The area is also expected to benefit from one of Sugar Land's upcoming major park projects approved by voters last November—the continuation of the Brazos River Park project and addition of an adjacent 33-acre festival site.