August 2016 by RE Journals

AUGUST 2016

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Giving Back

How one Texas CRE Professional is helping feed thousands

Surveying Success

How setbacks can set back your project

What's Next for Al Ross?

Â±20 ACRES

NEC FM 2004 at N. BRAZOSPORT BLVD. RICHWOOD, TEXAS 77515

CALL FOR OFF E RS Kristen McDade +1 713 577 1808

Alex Makris

+1 713 577 1827

Nolan Mainguy +1 713 577 1841

±39,160 SF 8411 HEMPSTEAD RD. HOUSTON, TEXAS 77008

v ±39,160 SF in a quickly growing area. Flanked by new residential and townhomes to the north and south, including Hine’s highly awaited “Somerset Green”, a “European style” residential development in the heart of Houston. David Weekley’s Reserve on Washington is building out across the street. v Site in close proximity to all the amenities of Memorial Park, Washington Avenue, the Heights and Uptown/Galleria. v Site is easily accessible to I-10, 610, 290, Washington Avenue and Shepherd. v Brand new Marriott Hotel under way next door v This is an excellent opportunity to get into this niche market area early before prices sky rocket.

Kristen McDade

+1 713 577 1808 kristen.mcdade@cbre.com

Nolan Mainguy

+1 713 577 1841 nolan.mainguy@cbre.com

New Buc-ee’s Under Construction

Under Contract

Office/Retail

Office

SOLD

Pad Sites Available www.westten.com

Office and Retail Sites Available • Deed Restricted Master - Planned Business Park • 1.6 Miles of frontage on I-10 • 1.5 Miles of frontage on Hwy 90 • Institutional, Class A Development • Regional Detention Provided • Cane Island Pkwy Interchange Now Open John Simons 713.275.9634 john.simons@naipartners.com

Holden Rushing 713.275.9612 holden.rushing@naipartners.com

1900 West Loop South, Suite 500, Houston, TX United States 77027

August 2016

CONTENTS

10 Paul McDonald

Market

Sales & Leases 1-3, 5, 7-9, 12–15, 17, 21, 25, 28

Services

Environmental Services 30 Land Servicing 44 Legal Services 41 Photography 12

Scoop

Events 32, 34, 36 Social 33, 35, 37 Bulletin 38–40

Features

Giving Back: How One Texas CRE Professional is Feeding Thousands 10,11

What’s Next for Al Ross 16

16 Robert Kness

A Second Serving of Kindness 20

Al Ross

BREXIT Breakdown 24 2ndQ Retail Reviews 26, 27 CIVIL FAIR PLAY Surveying Success 18, 19 RAY'S BUZZ The “Three Legged Stool” 28

August 2016

20 Barbara Bronstein

Addicks-Cullen Addicks-Cullen ParkPark 14,000Acres 14,000 Acres

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10.4 ACRES 10.4 ACRES

UNDER CONSTRUCTION

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Phase One 170,000-square-feet CONSTRUCTION 2016

Terry Terry Hershey Hershey Park Park

15.3 Acres 15.3ACRES ACRES 15.3

Interstate 10

Central Park

An easily accessible 80-acre development bordered by permanent green space, located on the north side of Interstate 10 between North Eldridge Parkway and State Highway 6 in The Energy Corridor.

Shops at

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6.66.6 ACRES ACRES

Row Park

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Ten Oaks

An 84 acre mixed-use development in the heart of The Medical Center-West Campus, located at the corner of Interstate 10 and Barker-Cypress Road in The Energy Corridor.

For more information call 713-626-8050 or visit wolffcompanies.com.

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITER

Janis Arnold janisarnold1@gmail.com Brandi Smith info@REDNews.com

Dear Readers,

Hope you’ve been having a fabulous summer, doing deals via your cell phone while lounging on a sandy beach somewhere cool!

We’ll be taking this issue to Retail Live! in Austin on August 18th and then on to the NTCAR Trade Show with the September issue. Texas ICSC comes early this year, October 6th & 7th , so make sure you have it on your calendar.

It always humbles me to see successful CRE professionals who have mastered the fine art of give & receive in their lives. Paul McDonald is a prime example of an individual who has balanced work, play & give-back to the community, and in such a creative way. Read his story as well as Barbara Bronstein’s on pages 10, 11 & 20 and let’s all offer them our support in any way possible. Balance, creativity, perseverance and tenacity are all characteristics of the successful CRE professional. I’ve known Al Ross since he first started National Sign Company many years ago and I’ve always admired his work ethic and his ability to make work look like fun. He’s a very successful professional who loves what he does. Read his story on Page 16.

CONTRIBUTING WRITERS

Ray Hankamer rhankamer@gmail.com Page Grossman info@rednews.com

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

DIGITAL/MARKETING DIRECTOR Tony Nelson digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

SALES

Ginger Wheless ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

REDNews is directly mailed each month to commercial real estate brokers, investors & developers throughout Texas and the US.

Next month we’ll be giving you an update on Texas Master-Planned communities and land developments. Enjoy what’s left of your summer! Best Regards,

Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387

TOTAL QUALIFIED REDNews DISTRIBUTION: 50,458

Ginger Wheless

REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 5909 West Loop South, Suite 135 Bellaire, TX 77401

August 2016

For all your commercial real estate needs, we’re here to point you in the right direction. LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT Montgomery Trace Retail Center For Lease

20821 Eva St./HWY 105 West, Montgomery

Portofino Plaza For Lease

Woodforest Plaza For Lease

6334 FM2920, Spring

19073 I-45, Shenandoah

• • • •

A Brookshire Brothers grocery anchored center Located in the heart of Montgomery, TX Great visibility and accessibility to SH 105 and 149 Several 2nd generation retail and restaurant spaces available • Conveniently located to Walden, Bentwater, April Sound, La Torretta, Grand Harbor and many other exclusive lakeside communities • Less than 1.5 miles from the Montgomery High School campus

• Located ½ mile north of Research Forest Drive on Interstate 45, approximately 1 mile from The Woodlands Town Center and 5 miles from the Hardy Toll Road and the ExxonMobil Corporate Campus • St. Luke’s, Texas Children’s, Methodist Houston and Memorial Hermann Hospital campuses are within 1 mile of the shopping center • Maximum visibility on I-45 • 1,500 SF Space available

• Property is located ½ mile west of Kuykendahl at the lighted intersection of T.C. Jester and FM 2920. • Anchored by Woodforest National Bank and Texas Children’s Pediatric Associates. • 2nd generation retail/restaurant space available. • Great retail, office or medical/professional location with high traffic volume. • Other tenants include Southwest Allergy and Asthma, law office and dental office. • Nationally known area retailers include Super Walmart, Lowe’s, Kroger, Chili’s, Discount Tire, O’Reilly Automotive, among others.

Havenwood Office Park For Lease

Magnolia Crossing For Lease

Technology Plaza For Lease

25700 I-45, Spring

33300 Egypt Ln., Magnolia

4223 Research Forest Dr., The Woodlands

9 +/- Acres For Sale

26823 FM 2978, Magnolia • Located within 3 miles of the new Baker Hughes Western Hemisphere facility at the corner of FM 2978 and FM 2920 • Five-lane road improvements on FM 2978 in progress • New luxury community by Toll Brothers across the street under construction, with 850 +/- new luxury homes, 2016 Delivery (Montgomery County). • 390 FF on FM 2978, 1090’ North line, 1090’ South line approximately, 380’ West line • Great opportunity for future development; Potential Uses: Commercial Development/ multifamily • Utilities Available

11 Acres For Sale

32496 Egypt Ln., Magnolia

• 250,000 SF of Class ”A” office building, designed as LEED Silver Certified with high-end finishes • Attractive 4-story, tilt wall and glass office building with 4-level covered parking garage • Located between the ExxonMobil Campus and The Woodlands Town Center with access to numerous amenities • Site has excellent access and visibility along I-45 between Woodlands Parkway and Rayford/Sawdust Road • Close proximity to Hardy Toll Road; readily accessible from George Bush Intercontinental Airport and the Houston Central Business District

• Located within 1 block of Westwood Shopping Center, which includes Target, TJ Maxx, Ross, Office Max, PetsMart, Gold’s Gym. Area restaurants include: Chili’s, Starbucks, Taco Bell, Chick-fil-A, Five Guys Burgers, Which Wich Sandwich Shop, and Brother’s Pizza to name a few. • The property features abundant parking, courtyards and open breezeways. • Suites are individually metered and feature: 1-7 offices, reception area, kitchenettes and private restrooms. • Property is located in The Woodlands Submarket, one block north of Research Forest Drive, and approximately 6.2 miles west of Interstate 45.

• Space available: 3,000 SF end-cap, former restaurant space with patio. • Property is located at a signalized intersection on the southwest corner of Research Forest Drive and Technology Forest Blvd., less than 2 miles west of Interstate 45. • DIRECTLY ACROSS FROM FOX NETWORK CENTER, VILLASPORT ATHLETIC CLUB & SPA (85,000 SF), IS ADJAACENT TO SITE. • Italian Architectural Design – state-of-the-art building. • 70’ bay depths.

• Direct access to The Woodlands via Research Forest Drive and Egypt Lane. Situated at a main ingress/egress point for The Woodlands. • Nearby national retailers including Target, Kroger, Ross Dress for Less, OfficeMax, Home Depot, PetSmart, Famous Footwear and Gold’s Gym, Walgreen’s, T.J. Maxx • Positioned near the heavily trafficked intersection of FM 2978 and FM 1488 with over 60,000 vehicles per day nearby FM 1488 • Property is situated on the corner of Egypt Lane and Research Forest Drive, under ½ mile east of FM 2978, and approximately 6 ½ miles from I-45. • Utilities available

Kuykendahl Place For Lease

46 Acres For Sale

9.18 Acres For Sale

80 Acres For Sale

1717 S. Cherry St, Tomball

Calvary RD, Willis

25219 Kuykendahl Place, Tomball • • • • • •

900 - 4,170 SF of retail/office space available New construction Office space above ground floor retail Monument and building signage available Easy access and great visibility Situated between FM 2920 and Woodlands Parkway, less than 1 mile south of The Woodlands Creekside Park Village Center and 1.6 miles north of the Grand Parkway.

I45/Longstreet, Willis • Property consists of 46 +/-approx. acres at the NEC of Long Street and Interstate 45 in Willis. • 2,274 FF on I-45 • Located approximately 17 miles from The Woodlands and 45 miles from Houston • Site is located on the north end of the City of Willis, located South of New Waverly and North of the City of Conroe • Property is located in Zone X (to be verified , per Montgomery County Flood Plain Viewer) • Utilities: Available through the City of Willis

• Property is located on the east side of Cherry Street, just south of the extension of Medical Complex Drive and Agg Road • 570.2’ FF on S. Cherry Street • Tremendous commercial and residential growth in this market area. • Located in the Tomball Independent School District – Public and Private Schools • Lone Star College Tomball – one of the fastest growing community colleges in the nation • Utilities: City of Tomball

• Property is located on the north side of Calvary Road, between I45 and Lake Conroe • Less than 2 miles to Lake Conroe • Property is currently undeveloped, has two ponds on the site • Use: Residential lots or acreage • Utilities: Currently not available • New developments in the market include a master planned community by The Howard Hughes Company under construction south of FM 1097 and FM 830

10077 Grogan’s Mill Road, Suite 135 The Woodlands, TX 77380

281.367.2220 jbeardcompany.com August 2016

This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.

Available Land

www.slucorealty.com

+/-5.37 ACRES FOR SALE OR GROUND LEASE

2 TRACTS FOR SALE

3.68 ACRES FOR SALE OR GROUND LEASE

Taylor Lake - Seabrook, TX 77586

SH 249 & Cypresswood - Houston, TX 77070

West Rd - Jersey Village, TX 77065

• 5.37 acre parcel located on desirable Clear Lake waterfront at a signalized intersection

• SWQ of SH 249 & Cypresswood

• West Rd @ Castlebridge Dr

• 6.21 AC at Cypresswood Dr & Mandolin Dr

• 3.68 Acres

• Views of Galveston Bay and Clear Lake

• 7.456 AC on Napoli Dr, south of Cypresswood

• Located on a hard signalized corner

• Traffic Count: 142,410 VPD on SH 249, 27,600 VPD on Cypresswood

• Across from Sam’s Club

• Ideal site for retail and possibly a mixed-use development with residential • Traffic Count: 10,910 VPD on Kirby, 25,187 VPD on NASA Pkwy

• +/-732’ frontage on West Rd • +/-242’ frontage on Castlebridge Dr • One block northeast of US Hwy 290 • Traffic Count: 23,140 VPD on West Rd, 140,353 VPD on Hwy 290

MAIN ST/HWY 35 LAND FOR SALE

+/- 9 ACRES FOR SALE

11.5 ACRES FOR SALE

1613 N Main St (Hwy 35) Pearland, TX 77581 Cypresswood Dr - Spring, TX 77379

Kingsley Land - Pearland, TX 77584

• Size: 9.5409 Acres

• Size: 9.0813 Acres

• Size: +/-11.5 Acres

• On Main St just north of Halik Dr

• Located at the southeast quadrant of Cypresswood Dr & Champion Forest Dr in Spring, Texas

• Great retail property across from Walmart Neighborhood Market anchored shopping center, adjacent to Valero

• Close proximity to Holiday Inn Express and just north of the Walmart anchored shopping center with numerous national retailers • Easy access & excellent visibility • Traffic Count: 13,911 VPD on Main St. (N), 14,675 VPD on Main St. (S)

• Across from Kroger anchored center • •Easy access and excellent visibility • Traffic Count: 26,910 VPD on Cypresswood, 18,170 VPD on Champion

Greg Slusky 8

August 2016

greg@slucorealty.com 713.443.2860

• Excellent demographics and numerous national retailers nearby • Traffic Count: 6,590 VPD on Broadway St, 4,060 VPD on Kingsley Dr.

Adam Manesh

adam@slucorealty.com 832.493.8696

Retail & Restaurant

www.slucorealty.com

FREESTANDING BLDG FOR LEASE

RESTAURANT FOR SALE OR LEASE

RETAIL SPACE FOR LEASE

21017 Kuykendahl Rd., Spring, TX 77379

12240 Highway 6 - Santa Fe, TX 77510

NEC Beltway 8 & Bissonnet - Houston

• SWQ of FM 2920 & Kuykendahl Rd.

• All FF&E included in the lease

• 2,980 SF In-line Space Available (can be divided)

• Freestanding A & W / KFC combination restaurant at the southwest corner of FM 2920 and Kuykendahl Road

• Excellent visibility from Highway 6

• Access to Beltway 8 N. Frontage

• Located on the north side of Highway 6, east of FM 646/Ave M

• New Hotel & Gas Station Coming Soon!

• Area retailers include HEB, O-Reilly, AutoZone, Dollar General, CVS Pharmacy and more.

• Traffic Count: 137,000 VPD on Beltway 8, 44,318 VPD on Bissonnet

• Located just across the intersection from the Walmart Supercenter, Lowe’s, Sprouts & Kroger • Major retailers include Lowe’s, Kroger, Walgreens, and a variety of other fast food restaurants

• Size: 2,995 SF on 35,432 SF of Land

• Land: 37,508 SF - Building: 2,998 SF • Traffic Count: 17,566 VPD on Kuykendahl, 34,380 VPD on FM 2920

• Size: 18,050 SF (Shopping Center GLA)

• Traffic Count: 15,000 VPD on Hwy 6, 8,800 VPD on Ave M/FM 646

RESTAURANT FOR SALE OR LEASE

RETAIL FOR SALE OR LEASE

PAD SITES & SHOPPING CENTER COMING SOON!

20320 FM 529 - Cypress, TX 77433

12230 Westheimer Rd Houston, TX 77077

Clay & Mason - Katy, TX 77449

• Located at the NEQ of FM 529 & Fry Rd

• Pavilion Shopping Center

• Pad Sites & Shopping Center Coming Soon

• Across from future Fiesta

• Located on Westheimer Rd between Houston Center Rd & Shadowbriar Dr.

• SWC of Clay & Mason

• Great visibility and easy access • Located in a high growth area on FM 529/Spencer Rd, between Grand Parkway & Barker Cypress Rd. • Size: 2,653 SF on 57,896 SF of Land • Traffic Count: 15,280 VPD on Fry Rd, 25,000 VPD on FM 529

Greg Slusky

greg@slucorealty.com 713.443.2860

• Located just east of Grand Pkwy • Excellent visibility with frontage on Westheimer Rd and access from both Westheimer Rd • Surrounded by affluent neighborhoods & Overbrook Ln. • Available: 1.658 Acres - 3.523 Acres • Available: 1,188 SF - 26,846 SF • Traffic Count: 14,720 VPD on Clay Rd, 19,353 VPD on • Traffic Count: 57,554 VPD on Westheimer Rd, 17,590 VPD on Fort Bend Toll

Adam Manesh

adam@slucorealty.com 832.493.8696

Grand Pkwy

1305 W. 11th Street #106 Houston, Texas 77008

Giving Back:

How one Texas CRE Professional is helping feed thousands Paul McDonald

BY BRANDI SMITH

For many Texans, native or otherwise, hunting is a way of life. It’s an opportunity to connect with nature, while challenging oneself and providing for one’s family. Hunters’ Harvest, a Houston-based nonprofit group, is working to take hunting a step further, offering up some hunters’ bounty to those who need it most.

“We’ve had incredible success” To understand the group’s mission, you must first learn how it all came together. It started during conversations between members of The Get Together, a monthly gathering that connects professionals with local, Christcentered ministries. “It’s an opportunity to engage business people in serving their community using the gifts God equipped them with,” said Paul McDonald, The Get Together’s board president.

Instead of fundraising for charity organizations - something The Get Together does not do - the group instead encourages its members to volunteer or offer pro bono services. Since it started in 2003, the group has collectively volunteered more than 11,000 hours. “Needs are met in a number of ways,” McDonald said. “They can share their expertise, make contacts on behalf of a 10

August 2016

ministry or mobilize volunteers.”

"[Houston businessmen] wanted to do good, but they really didn't know how. The Get Together and Hunters’ Harvest provide those opportunities" - Paul McDonald

A couple years into The Get Together, McDonald and several other members, who also happened to be hunters, had an idea: encourage fellow hunters to donate fish and game to partner ministries. As a result, Hunters’ Harvest was founded in February 2005 and to date has collected nearly 180,000 pounds of donated meat.

“We’ve had incredible success by organizing a number of events, including Clean Out Your Freezer Day, which brought in more than 15,000 pounds of fish and game donations,” said McDonald, who also serves as president of Hunters’ Harvest.

“I was going to do this on my own.”

McDonald’s involvement in both groups should come as no surprise to those familiar with his name. A business owner, entrepreneur and investor, he has more than 45 years of experience in Texas real estate. He got his start in 1971 when he and two partners started Associates of Financial Planning, which focused primarily on real estate, insurance, retirement plans and general financial planning.

“We went from 12 people to about 60 people fairly rapidly,” McDonald recalled. “In the beginning, sales numbers were relatively small - maybe $15 to $20 million - and got up to about $100 million.” About a decade in, McDonald sold his stock back to the company.

“I decided where they were going was not where I wanted to go,” he explained. So I was going to do this on my own.” In 1984, he founded McDonald Securities, Inc., a licensed broker-dealer company, but just a few years in came the Tax Reform Act of 1986.

“That’s what really pried me out of the financial planning business,” McDonald said. “I loved the business, but I used to be a part of 60 people and I'm now a one-man shop. I didn’t have the ability nor the time to get technically proficient. I chose not to do it if I can't do it well.”

“I got the money. Let's close it.”

One thing McDonald knew he could do well was commercial real estate.

“I love the competitiveness of it. I love negotiating. I love digging through a deal and figuring out what I need to do to control it and build value,” he said.

Over the years, he and some partners had accumulated a portfolio that included several pieces of property under the umbrella of Paul S. McDonald & Associates, Inc. “We ended up babysitting all of those

properties,” McDonald said. “We sold the last one 20 years after we bought it.”

In the interim, he took special interest in apartment buildings. For nine months, he’d been trying to raise money for a partner project he had under contract. The goal was $1.2 million, but he could only muster about $250,000. The turning point came when McDonald sat down with Donald Bonham, who started Fiesta with his partner O.C. Mendenhall.

“I apparently didn't look well that morning,” McDonald recalled. “[Bonham]

said, ‘What’s wrong?”

McDonald says he replied, “Going broke is not fun,” to which Bonham responded, “What can I do to help?’” McDonald explained his situation could change with an investment by Bonham. “[Bonham] said, ‘I don't want to be in apartments. I can go build a Fiesta and create the value of the whole shopping center,” recalled McDonald.

McDonald told Bonham, “I understand that. You asked me what you could do and I told you what you could do. You told me you didn’t want to do it and that’s OK.” Bonham’s response? “Come back at 8:30 Monday morning.”

Come Monday, Bonham wrote a check before the two had even talked about logistics. They hammered out the details of a deal then and there.

“[Bonham] said, ‘I'm going to go look at my property in Hawaii, the property where South Pacific was filmed. I'm building a house there and I'll be back in January. You go get this property closed,’” said McDonald. “I called the seller and said, ‘I got the money. Let's close it. On Nov. 26, we closed my first deal that wasn’t managed by somebody else.”

“We work on tough deals”

It wasn’t exactly smooth sailing, though; McDonald hired a management company to oversee the property, now called the Winrock Apartments. Four months in, that company had only leased four of the 106 available units.

When McDonald made the decision to fire the management company, he also decided to add a new service to his own company’s growing list: apartment management. Ever since, the property has flourished. Now, 30 years later, it is still paying distributions for its investors, which include several of Bonham’s heirs. “His daughters are still in Winrock,” McDonald said. “I bought out most of

"If you've got a property that's really, really bad, we’re known as the guys who will take it on" - Paul McDonald

It was an asset that helped propel McDonald into more projects. Bonham paid a 6 percent real estate commission, providing the capital for McDonald to buy another property: the Brittany.

Built in 1970, McDonald purchased the property in ‘87, not realizing the challenge that lay ahead. Many of the buildings were in poor condition; some even had massive holes stretching from the second-story roof to the ground floor. “The people who owned it would even put a piece of plywood up on the deck and pour a 5-gallon bucket of tar over it to just divert any of the water,” McDonald described. “You literally had roofs falling in.” After months of discussion about what to do with the units, McDonald and his partner decided to rehab them.

“What we do is very challenging because we work on tough deals,” he said. “If you've got a property that's really, really bad, we’re known as the guys who will take it on.” Though the Brittany Place Apartment proved to be a headache, the project was the vessel through which McDonald connected with banker Chris Holder, who introduced the idea that eventually spawned The Get Together and brought McDonald on board.

“I realized that Houston businessmen have a different view of life and business, entrepreneurship, risk taking, doing what's right for their city,” he said. “They wanted to do good, but they really didn't know how. The Get Together and Hunters’ Harvest provide those opportunities.” l To offer your support to The Get Together, log on to www.thegettogether.org or call Leah Waughtal, Executive Director, at 281-785-7518.

For further information about Hunters’ Harvest and how to donate your last catch or kill, log on to www.huntersharvest.org. You can also call 281-320-8259 and talk to Cathy or email cathy@huntersharvest.org

the other original investors, except his daughters. I like that they can continue to enjoy the fruits of their father's labors. Winrock is really an estate asset for us.” August 2016

September Issue

Land / Mixed - Use Development Extra Distribution: NTCAR Trade Show Space Reservation Deadline: August 12th

October Issue

Retail / Land Extra Distribution: ICSC Texas

Space Reservation Deadline: September 12th JULY 2016

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713.661.6300 www.info@rednews.com www.rednews.com www.rednewsonline.com

NORTH MAIN SHOPPING CENTER

550 GREENS PARKWAY

1505 S. HIGHWAY 6

TOWNSHIP SQUARE

1001-1017 Main Street Liberty, TX 77575

550 GREENS PARKWAY Houston, TX 77067

1505 S. HIGHWAY 6 Houston, TX 77077

3340 FM 1092 Missouri City, TX 77459

• Former H-E-B Box, 30,000 SF Available • Located in the Heart of Liberty • Shadow Anchors: Family Dollar, Baskins Western Wear, American Mattress, Baytown Seafood

• Full Building, 72,000 NRA Available for Lease • New Ownership • Beautiful Atrium Lobby, High End Finishes & Lush Landscaping • Secured Covered Parking

NORTHCHASE BUSINESS PARK

7660 WOODWAY

14505 TORREY CHASE BLVD Houston, TX 77014

7660 WOODWAY Houston, TX 77063

• 1,000-40,000 NRA Available • Completely Remodeled in 2015 • Private Corner Balconies on Upper Floors • Located near FM 1960 & I-45 in Champions Forest

• 1,117-10,551 SF Available • Lobby & Common Areas Remodeled • Covered Two (2) Story Parking Garage • Located near the Energy Corridor

PASADENA PROFESSIONAL

FOR SALE

3315 BURKE ROAD Pasadena, TX 77504

• Up to 16,014 NRA Available • Five Level, Class B Office Building • Renovated in 2014 • Property Secured by Security Gate & Card Key Access

• Up to 6,882 SF Retail Space Available • Easy Access to Highway 6 & U.S. Hwy 59 • Traffic Count Exceeds 30,653 CPD

908 EAST SOUTHMORE

908 E. Southmore Blvd. Pasadena, TX 77502

• Three Story Office Building • Fully Remodeled Lobby & Common Areas • Conveniently Located Across Bayshore Medical Center

• 46,462 SF, Three Story MOB • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance • 532-3,068 SF Available

WOODFOREST SHOPPING CENTER

SUGAR POINT SHOPPING CENTER

BAY COLONY CENTER II

ASHFORD PROFESSIONAL

10907-11095 I-10 East Houston, TX 77029

9920 Hwy 90 Sugar Land, TX 77478

650 FM 517 Dickinson, TX 77539

909 Dairy Ashford Rd Houston, TX 77079

• Up to 30,979 SF Available • End Cap Available • NWC I-10 E Frontage @John Ralston

• Hard Corner of Hwy 90 & Dairy Ashford • Up to 2,212 SF Available • Great Co-Tenancy • Traffic Count Exceeds 78,000 CPD

CORPORATE OFFICE: 7887 San Felipe Houston, TX 77063 (713) 974-4292

• 2,550 SF Available • 22,745 SF Shopping Center • Located at FM 517 & Hansen Dr. • Three Access Drives to its Parking Lot

SAN ANTONIO OFFICE: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222

• Two Story MOB • Renovated in 2008 • Up to 2,392 SF Available • Services the Memorial & Surrounding Neighborhoods

AUSTIN OFFICE:

502 East 11th Street, #400 August 2016 Austin, TX 78701 (512) 302-4500

1.08 ACRES FOR SALE Price

$750,000

Lot Size

1.08 AC

Price/AC

$694,444.42

Lot Type

Industrial (land)

1+ acre tract with 255’ frontage on Blalock with common easement access to Clay Rd. Located against Jack-In-The Box at the high car count intersection of Blalock and Clay. Cross access easement goes through Jack-In-The Box parking and includes signage easement on Clay. Clear and high, ready for development. Great tract to cash in on a very high volume established lunch traffic flow! Excellent for non-hamburger/taco fast food (chicken, sandwich, barbeque, etc), retail center, commercial, industrial or gated residential.

N. Blalock at Clay Road, Houston, TX 77041

• Electricity/Power • Irrigation • Water

• Telephone • Cable • Gas/Propane

18,000 SF LAND FOR SALE Price

$630,000

Lot Size

18,000 SF

Price/SF

$35

Lot Type

Industrial (land)

Operating Mini-storage. Buildings priced at no value, sold as lot only. Off Hammerly between Wirt and Bingle. • Electricity/Power • Water

2039 Pech Rd., Houston, TX 77055 8.05 ACRES FOR SALE Price

$1,404,008

Property Sub-Type

Retail (Land)

Lot Size

351,002 SF

Additional Sub-Type

Residential Land

8+ acres of level mostly clear land ready for development to residential subdivision, apartments, retail center, or most other projects requiring a large tract with great access. Frontage on Preston, Harris Street dead ends into back of tract, and great cross access easement through Kroger retail center that fronts on Red Bluff. This 8 acre tract borders the Kroger retail center and was originally for future expansion of the center. Tract has sewer in place on the site around the perimeter. Tract has a cell tower in back corner with potential for future income due to FCC regulatory requirements limiting construction of future cell sites. Great flexible non-approval owner financing. Located on Red Bluff at Preston between 225 and Beltway 8 Sam Houston Parkway.

N. Preston, Pasadena, TX 77503

• Electricity/Power • Water

Contact: Cathy Cagle 713.561.7528 or ccagle@johndaugherty.com

• Telephone • Cable

• Gas/Propane

John Daugherty Realtors 520 Post Oak Blvd, Floor 7 Houston, TX 77027

20 ACRES FOR SALE; WILL DIVIDE INTO SMALLER TRACTS Northwest Corner of Brittmoore and Clay Rd.

20.12 acres of unrestricted retail/commercial/residential land located on the northwest corner of Brittmoore and Clay Rd. Tract has available utilities, water and sewer. • • • • •

Electricity/Power Water Telephone Cable Gas/Propane August 2016

What's Next For Al Ross?

Al, before we start talking about your current businesses, tell us how you got started. BY RAY HANKAMER

AR: From a fairly young age, I was fascinated by the interworking of the business world; however, I was also captivated by aviation. My focus in college was aviation administration which then evolved into aircraft engineering. Even so, the need to earn extra money in college ignited in me the basics of business: I bought nice â&#x20AC;&#x201C; looking watches at a low price, marked them up, and sold them on campus at a profit of $20-30 per watch. Wow! That was the start of my love for the business world. After college, I was hired as a salesperson by US Signs, a full-service, nationwide sign company. I spent two years in the business and experienced a great deal of success, then decided to take the risk and venture out on my own. With a wealth of knowledge and a $200 investment, I started National Signs which is now one of the leading sign fabrication and installation companies in Southeast Texas.

RN: How did you differentiate yourself from competitors, when you started so small?

AR: Being small has great advantages. When you have a handful of clients, you focus on making them deliriously happy. Providing a high level of service to every client, exceeding their expectations, and a burning desire to succeed were the main ingredients for our success. Within a short period of time, I had clients like Dave & Busters with locations nationwide. We provided their signage for all of their locations, local, national and eventually international. That was a huge differentiator as well. RN: Al, many of our commercial real estate readership know you as owner of National Signs, and now we see you are the new owner of Windrose Land Surveying, a long16

August 2016

time fixture on the Houston surveying scene. How did that come about? AR: Good question! After growing National Signs from a small operation to the leading sign company in Texas, I was restless to take on a new challenge. One of the challenges I experienced during my time at National Signs was that of building a custom home for my family. During this painful time, I realized the opportunity in the marketplace to make this experience pleasant, versus distressful, for home buyers. When the opportunity to sell National Signs came about, I sold the company and started a high-end residential spec-home building company. Currently we have 3 homes under construction in River Oaks, all of which are under contract already! When I was made aware that Windrose might be available for purchase, and I have relationships with a good number of commercial real estate folks due to my years in the sign industry, I liked the idea that those same people also need the services offered by Windrose. I felt it was a good match.

Also I saw the opportunity to expand statewide, possibly through organic growth or acquisitions in major markets such as Dallas, San Antonio, and Austin. Currently, Windrose has about 40% of the surveying business in Houston, so there is a lot of room to grow in our own backyard first. RN: Are you thinking about continuing to add companies to your portfolio, and amp them up?

AR: Absolutely! Wherever the opportunity shows itself! For example, there are many family-owned businesses that provide a good living for the owners, and have for many years. With a new partner with a new

perspective, typically there still exists a huge upside for growth for those companies. I would like to be the partner that helps propel that growth. RN: Are there some bits of advice to give to our young commercial real estate professionals who are just starting out?

AR: Yes. Be aware of and accept your strengths but also be aware of your weaknesses. Confront both and plan around them, adjusting to the realities of your particular marketplace. Sales and marketing are key components to success, and reliability is foremost. Your clients need to know they can absolutely depend on you to take care of their needs.

I would like to point out and to even emphasize how wonderful a business atmosphere we have here in Houston. There are few barriers to achieving success if you really want it, unlike other cities where success is less merit-based. There is no other city with the entrepreneurial spirit like we have here in Houston! Have a clear vision. Never be satisfied with the status quo. Always keep your ideas for success in the forefront of your thinking. RN: In your leisure time â&#x20AC;&#x201C; what do you do for fun? AR: I work out, and spend time with my family. But frankly, my work is my play! l

WEST LAKE HOUSTON PARKWAY CORRIDOR 15,840 S.F. OFFICE BUILDING

The West Lake Houston Parkway corridor is one of the fastest growing sub-markets in the entire Houston region ● West Lake Houston Parkway corridor is presently adding 800-900 new homes per year and will do so for the next 10 - 12 years. ● This location offers immediate access to the Kingwood, Humble, Atascocita, Summerwood & Generation Park neighborhoods.. ● The property is improved with a 15,840 S.F. brick & masonry building on 1.13 acres, with 42 parking spaces. ● Presently, the building is designed as a gymnastics / dance studio, with six large rooms encompassing @ 11,600 S.F. ● The interior roof height is @ 18’; the clear height is @ 14’. The building is 100% air conditioned. ● Price: $1,675,000 Houston Commercial Development 1525 Lakeville Drive, Suite 232 Kingwood, Texas 77339

For Information, Contact: Mark Wimberly: 281.224.1989 mwimberly@houstoncomdev.com

Superb Prestigious Corner Location SEC Mason Rd & Fry Rd., Cinco Ranch Lease Offering Data

Space Available:

15,000 +/- SF (can be subdivided-call for terms) Space Condition: 2nd Generation Term: 5+ years (negotiable) Base Rental Rate Space: $24.00 PSF NNN NNN Charge (2015 Est): $11.00 PSF/Year (Landlord paying electric!) Parking Ratio: 4 per 1,000 SF • • • •

Property Data/Attributes

5005 S. Mason Road, Katy, TX 77450 Newly Constructed 2010 Two Story Building Easy access to Grand Parkway and West Park Tollway Area Demographics

2013 Total Pop.*

FOR LEASE

2013 Avg. HH Income*

1-mile

3-mile

5-mile

11.857

105.681

202.320

$199,351

$132,960

$124,086

*Demographic Data Source: ESRI 2015 Forecast

Contact: Roxanne Edmond 281.391.9252 Roxanne@wolverinepm.net August 2016

civil fair play

Surveying Success: How setbacks can set back your project

Robert Kness

BY BRANDI SMITH

At the ripe young age of 14, Robert Kness had already started taking steps down the path that would lead him to his career. “I worked summers and weekends for one of my friend's grandfather, who had a surveying company in north Texas,” Kness recalled.

When he was 17, he made the move to Houston, where he started working at Windrose Services, a professional land surveying firm. Now a principal and chief operating officer, Kness has been a part of the Windrose team for going on 18 years. “I just love surveying. Every project's different; every one's unique,” he said. “I get the opportunity to be at the ground floor of some of the most interesting and unique developments in Houston and around Texas.” The list of projects Kness has been involved with is impressive, ranging from the Goodman Global facility in Waller County (the largest industrial building in Texas) to BBVA Compass Stadium.

“it's always interesting, being able to see and do all those things, ” Kness said. “I've been blessed to have a great team to work with and they make it interesting and rewarding every day.” That team at Windrose has been especially busy over the past five years as a building boom of sorts hit the Houston area after the Great Recession. 18

August 2016

“It's been crazy. We've easily grown almost 15 to 20 percent per year the past five years. I think in 2008 we had six crews and now we have 13,” Kness said. “In January, the Al Ross Group acquired the company from my original partners, so now we have a strong, aggressive growth plan to be the most dominant standalone surveying company in Houston.”

"As soon as you put a property under contract, call the surveyor. Find out what the issues could be and where the stumbling blocks could be"

Kness’ passion and years of experience made him and his Windrose team, including director of surveying Mike Kurkowski, RPLS, and director of planning/project manager Andrew Allemand, our go-to source for learning about what commercial real estate professionals should be on the lookout for when it comes to surveying.

REDNews: What kind of advice or services would you suggest to developers looking to expedite projects? Windrose team: In a lot of cases, surveying is one of those services you need it when you need it. It's hard to tell someone, ‘You need a survey today.’ But for buyers, builders, developers and architects, surveying normally comes into play during the due diligence phase, so a surveying firm is one of the first points of contact you make when you're looking to purchase or develop a piece of property.

We're one of the first firms you call to determine how much land is there and whether there are any easements, setbacks or restrictions. We're basically the front-line people who go out and assess those things.

As far as expediting a project, we tell all of our clients, ‘As soon as you put a property under contract, call the surveyor. Find out what the issues could be, where the stumbling blocks could be and make sure you're hiring a surveyor who understands local development codes and subdivision platting, as well as all the hiccups and hurdles that we deal with in this unique Houston environment.’ Because we don't have zoning here, there are certain codes and ordinances that control all the development across Houston, along with surrounding counties. If you don't know those, you can get into a lot of trouble really fast. REDNews: What are some of the biggest obstacles or hurdles you commonly run into?

Windrose team: Right now, we’re seeing a lot of setback regulations. Chapter 42 of the Houston Code of Ordinances establishes building setbacks along all public streets. With the growth in Houston and the traffic pressure that creates, a lot of streets have

been reclassified from your local street to a major thoroughfare or a local collector due to the increased traffic volume and road improvement plans.

"Open, honest and timely communication between all parties will avoid most problems and prevent small problems from growing into larger ones." When that reclassification happens, the building setback rules change as well. You might've been fronted on a nice local street that had a 10-foot setback. But if the city reclassifies it as a major thoroughfare, it now has a 25-foot setback.

A great example of this is the Westheimer corridor, which has been around for a long time in the downtown to midtown area. For years, it had a very minimum right-of-way with a 10-foot building setback. Now that road is considered a major thoroughfare, so all the old buildings are inside the City of Houston building line because it's been reclassified to a 25-foot setback. Now we have to go and do variances and special exceptions or modified buildings. REDNews: Do you run into different obstacles in other Texas cities, such as Austin, Dallas and San Antonio?

Windrose team: Every jurisdiction has unique requirements and quirks that can make doing business challenging. The population size, land mass, development character and relationship between the development community and the jurisdiction all play a part in how your firm must approach a project. The City of Houston has very particular surveying and platting requirements compared to other cities. With the City of Houston, an applicant works with a single department on most submittals. Everything is submitted online and their system is built around getting plats to the Planning Commission in a timely manner. In other cities, an applicant still works with a primary department but other departments and related organizations can interject and really affect the review timeline. Additionally, there are littleknown technical requirements that have to be fulfilled. An out-of-town firm may not realize that there is an established Houston Downtown Centerline Monumentation System that has a major effect on boundary determination and possible right-of-way

dedication. Other cities use centerline mapping systems, but in many cases they are limited to a particular corridor. These systems are oftentimes not recorded in the public records and must be sought out during the due diligence period. REDNews: Do you have any tips for circumventing issues?

Windrose team: The most important tip to avoiding project management issues is to maintain and promote communication. Open, honest and timely communication between all parties will avoid most problems and prevent small problems from growing into larger ones.

own growth, but their infectious attitude provides a blueprint for others to follow.

Surveying is a required step of any development, playing an integral role in any project, whether you’re building a new subdivision or adding utilities to an existing site. The key is understanding what issues your property may face and working with an experienced surveying firm to overcome them. l

From the due diligence period on, it’s the project manager’s responsibility to keep all lines of communication open between the client, government jurisdictions and other real estate professionals. As soon as the project is authorized, contacting the appropriate city engineering, planning or surveying representatives will clarify requirements and help the project benchmarks fall into place.

Tracking the regulations of the jurisdictions that you serve is also important. Cities and counties constantly change their ordinances and administrative procedures, so staying current is essential to avoiding any unpleasant surprises. Your firm must be flexible and open to change so that you can stay competitive in an ever-changing real estate market. REDNews: What are some of the biggest challenges your firm has faced?

Windrose team: One of the biggest challenges facing our industry is the lack of institutions that offer a degreed program in surveying. As the number of survey degree programs continues to dwindle across the country, the demand for existing and newly registered surveyors continues to rise. Recruiting, training and retaining talent must be one of your firm’s top priorities if you hope to succeed in the long run.

Because finding new talent is such a critical part of the industry, one of the best surprises that a business owner can experience is seeing one of their existing employees excel in a new role. While we expect employees to positively and proactively take on their current assignments, sometimes an employee goes above and beyond the call of duty and shows that he has the potential for growth within the organization. These employees not only pave the way for their August 2016

A second serving of kindness Barbara Bronstein

BY BRANDI SMITH

Another major nonprofit group with a CRE connection is Second Servings of Houston, which helps feed the area’s hungry with leftover food from catered events. “I noticed a lot of last-minute no-shows at charity banquets and was quite horrified to learn that most of the unserved food was being thrown away,” said Barbara Bronstein, who started Second Servings in 2014. “I knew there must be a way to redirect this surplus to people in need.” Bronstein, a retired marketing professional who’s called Houston home for more than 30 years, consulted with the Houston Food Bank, the City of Houston Health Department and experts in food and social services. That’s when she discovered that “food rescue” was happening all over the country, in communities large and small.

“We pick up and deliver the food the same day to approved charitable meal sites,” she said. “With almost 1 in 5 people facing food insecurity in Harris County, and a growing food waste problem, it is essential that we redirect perfectly edible surplus food away from the landfill to the people who really need it.” The program has grown exponentially since its start, but the biggest boost came when Hilton Americas, Houston’s largest hotel, agreed to donate its surplus food in 2015. “That's a lot that would have gone to waste but we're able to touch lives to give the food 20

August 2016

to the homeless, to people who really want food. It's God-given,” Ruffy Suoaiman, Hilton Americas executive chef, told Houston TV station KTRK. Another source of help has been Bronstein’s husband, Martin, a founder and senior principal at BHW.

“Martin is a skilled entrepreneur with countless contacts in the community. He has helped introduce me to CRE professionals, who have been very supportive of our efforts,” said Bronstein. “In fact, one CRE colleague, Melanie Edmondson of Phase Engineering, introduced me to Joy Horak-Brown, President and CEO of New Hope Housing, where we deliver healthy, chef-prepared meals from food donor, Snap Kitchen, every week. Bronstein said Second Servings has now rescued more than 100 tons of food from more than 50 donors across the city. Additionally, the group now serves nine charity sites, which include soup kitchens, shelters and affordable housing projects.

“Our operation is extremely efficient, providing 33 meals for every $1 we spend,” she said.

One challenge facing the organization is transportation. Second Servings arranges all pickups and deliveries from donor sites to the charities, without ever warehousing the food. This keeps costs down and food safety up. While the organization relies on several of its charity recipients to provide transportation, the organization recently purchased its first refrigerated vehicle, thanks to a generous grant from the Moody Foundation. “Our goal is to become a sustainable and scalable organization that provides a dependable source of food for people in need,” Bronstein said. “We want to constantly be expanding our food donor network, so we can reach more charity recipients with a growing food supply. This will require additional vehicles, drivers, and staff.” Those interested in corporate sponsorships, individual gifts or volunteering can contact Bronstein by emailing bbronstein@ secondservingshouston.org or calling (713) 824-6605. l

+/- 100 Acres - Commercial Site for Sale

55,650 SF in 3 Buildings on 15.86 acres

22414 Decker Prairie Rosehill Rd- Tomball, TX Contact Broker for Price

ESTATES OF HOLLY LAKES

Property Features:

● Only minutes from the Port of Houston or Petrochemical Complex ● Clear heights range from 18’ to 22’ ● Two dock wells; five dock lanes ● Total office areas: +/- 8,600 S.F. ● Price: $2,850,000 REDUCED TO: $2,750,00 Houston Commercial Development 1525 Lakeville Drive, Suite 232 Kingwood, Texas 77339

Lease Rate $20,000 Mthly / NNN

For Information, Contact: Mark Wimberly: 281.224.1989 mwimberly@houstoncomdev.com

Development opportunity Located just North of FM 2920 ± 5 miles West of Hwy 249 ± 2 miles North of 99 ± 1,200 ft of frontage on Decker Prairie Rosehill Rd Well & septic Outside any ﬂoodplanes Site does not contain any pipelines, easements or drill sites Mineral rights do not convey with property AG exemption

www.ngkf.com

LEVCOR, INC. IS A LEADER IN THE DEVELOPMENT AND REPOSITIONING OF RETAIL SHOPPING CENTERS RANGING FROM 100,000 TO 1,000,000 SQUARE FEET THROUGHOUT TEXAS. Houston Eagle Pass

Pharr Town Center

McAllen

Pharr Sherman

Laredo El Paso

Del Rio

Texas City

Waco

LEASING INFORMATION 713.952.0366 1001 West Loop South, Suite 600, Houston, Texas 77027 www.LEVCOR.com

August 2016

KATY GREEN CROSSING For Sale - $4,000,000 MULTI-TENANT NNN LEASES 21414 Julie Marie Lane, Katy, TX 774449

August 2016

PRICE: ____________________________ $4,000,000 PRICE PSF: ________________________ $151 NOI: ______________________________ $340,416 CAP RATE- CURRENT: ____________ 8.50% OCCUPANCY: _____________________ 96.22% GLA: ______________________________ ± 26,453 SQUARE FEET LAND AREA: ______________________ ± 2.573 ACRES YEAR BUILT: ______________________ 2013 TENANTS: ________________________ 16 Retail/Office Flex Tenants Size Range 900 SF - 4,000 SF

CONTACT:

Ford Scott & Geoff Bracken 281-816-6550

fscott@capitalretailproperties.com gbracken@capitalretailproperties.com August 2016

Brexit Breakdown:

What does the vote mean for CRE? BY BRANDI SMITH Late in June, residents in the United Kingdom voted for Britain to exit the European Union, a decision nicknamed Brexit. The results of the vote shocked the world, especially since most experts believed the country would choose to stay.

“I did not anticipate that they would vote to withdraw from the European Union so it was a bit of a surprise,” said Steve Everbach, Colliers’ Central Region president. “I knew it was a possibility, but it was still a bit of a surprise.”

“Personally, I think it's great and a step in the right direction away from this idea that there should be a global government that's very far away from the population,” said Patrick Duffy, Colliers’ Houston president. “But professionally, I probably had the same reaction the stock market had, which was ‘uh oh.’” The decision caused ripples throughout the world markets. The value of the pound dropped to a 30-year low and here in the United States, the Dow closed down more than 600 points the day after the vote.

"If I was going to invest, I would think Texas will continue to be a major focus for global funds" - Pat Duffy “The reaction in the financial markets was predictably swift and severe, as currency and equity traders were collectively caught so wrong-footed,” said Andrew Nelson, chief economist for Colliers USA.

“[Brexit] brings up some questions as to the stability of the euro as currency and the overall stability of the EU,” said Duffy.

In the days that followed, the reaction simmered down as many questions, such as those posed by Duffy, arose about what Brexit meant for the UK, the EU and the rest of the world.

“The result is uncertainty and uncertainty is never good for markets - whether they're equity markets, real estate markets, so on and so forth,” Everbach said. Now, just as the UK and EU start to explore the idea of how this decision will play out in the months and years to come, so too are U.S. analysts examining its impact within our borders. 24

August 2016

Some results were immediate; American banks are looking to shore up their losses by pulling thousands of employees out of the U.K., per Fortune. Citigroup, for example, will relocate 2,000 employees out of London, while Bank of America will do the same with 1,365 employees.

“No one knows exactly how long it's going to be, but I suspect it's going to be multiple years as they work through all the exit situations with trade,” said Everbach. As negative as the market reaction was the day after the vote, it’s possible America may reap some benefits. Instability in Europe means investors could pull their capital out of U.K. countries and reallocate their money in more stable regions, such as the U.S.

“I'm not saying this will be a flood of capital coming from the U.K. into the U.S., specifically into Texas, but I do think it will cause companies to ascertain their investment portfolios and potentially redeploy capital from the U.K. and Texas will show up on their radar when they consider the U.S.,” Everbach said. The American market is already seen as a kind of safe haven for foreign investment, according to Real Capital Analytics (RCA). The New York City-based research firm reports that in 2016, foreign investors pooled $16.3 billion into the U.S. multifamily sector; $2 billion of that total came from the U.K. That trend could see more traction as uncertainty about the EU builds.

“I think there will be flight capital looking for yield, and commercial real estate still has a very good yield,” Duffy said. “All in all, Texas is positioned very well to receive some of that capital that may be redeployed,” Everbach said. “Texas is viewed from a real estate investment standpoint as a stable and growing economy right now. Even with the energy sector challenges in Houston, the Texas economy is well-diversified. From a real estate investment standpoint, Dallas, Austin and Houston are attractive markets.”

When it comes to U.S. investors, there’s a huge question about how the Brexit vote will affect interest rates. Most experts seem to agree that a ‘yes’ on Brexit means a ‘no’ on a summer rate hike, which was speculated to happen before the Britons voted out. The Federal Reserve has previously referenced U.K.’s potential exit from the E.U. as a risk factor,

which means the Fed will likely postpone any decision about an increase until this fall at the earliest.

“The likelihood of a hike this fall will depend on evidence of financial market contagion related to Brexit and the strength of U.S. labor markets and inflation,” Nelson said. “I think at least one Al Ross more hike this year is still likely, absent major economic shifts.”

The potential combination of a flood of capital along with maintained low interest rates could trigger price increases in many markets, especially the hubs foreign investors historically prefer. “If I was going to invest, I would think Texas will continue to be a major focus for global funds,” said Duffy.

"All in all, Texas is positioned very well to receive some of that capital that may be redeployed" - Steve Everbach

Though most assuredly a momentous point in history, the full scope and impact of Brexit will not be known for several years. However, it’s likely that the United States will benefit from a boost in domestic commercial real estate, whether it’s a temporary influx or a long-term investment. As uncertain as the coming weeks and months may be, commercial real estate may offer shelter from the storm. l

Patrick Duffy President | Houston Colliers International

Steve Everbach President | Central Region Colliers International

RETAIL SPACE FOR LEASE

Kaleidoscope

♦ 2,340 SF and 3,026 SF available on second floor plus 2,840 SF available on first floor former doctor’s office $18.00 PSF & NNN $4.20 PSF ♦ Excellent for retail, office or professional use ♦ 2 blocks west of Beltway 8

10612 Westheimer, Houston, 77042

Woodland Park Shopping Center ♦ 1,600 SF -7,350 SF available $18.00 PSF & NNN $3.60 PSF ♦ +/- 592’ of frontage on Westheimer ♦ 372 surface parking spaces available ♦ Traffic counts - 82,880 CPD (Westheimer) ♦ Pylon signage available ♦ Aggressive lease terms

11380 Westheimer, Houston, 77077

For more information

Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108 eleung8888@aol.com www.aarealtytx.com

August 2016

Marcus & Millichap Retail Research Marketing Report Austin Metro Area

Retailer Expansion in Austin Constricts Vacancy to All-Time Low, Drives Up Rent Retail developers ramp up in Northwest Austin; pent-up demand absorbs space. Strong in-migration trends and steady job growth are fostering retail expansion in Austin, and as development remains mostly released, vacancy will fall to the lowest point in over 10 years during 2016. Owners hold on to assets, create short-age of opportunities. Investor

interest for assets in Austin is high, though transaction velocity will remain limited this year due to a lack of available listings. Improved property operations and strong rent growth at multi-tenant properties are encouraging many owners to hold on to retail assets, riding increasing NOIs and improving property values.

Dallas/Fort Worth Metro Area

Strengthening Economy Stokes Retail Demand, Encourages Development Local economy firing on all cylinders, attracting builders and retailers to region. The Dallas/Fort Worth Metroplex economy is booming as companies expand and move to the area, bolstering tenant demand and retail development. Annual positive net absorption has vacancy on a downward spiral for the past six years, retreating more than 300 basis points during that time to the mid-6 percent area. While retail construction activity has not returned to pre-recession

August 2016

levels, builders have been consistent and inventory has expanded 6 percent since 2009. Out-of-state investors increase buyer pool; Fort Worth assets in higher demand. Investor interest in North Texas retail properties is rising as fundamentals continue to improve and the regionâ&#x20AC;&#x2122;s economic outlook remains bright.

Second Quarter 2016

Excerpts: For full reports, log on to http://www.marcusmillichap.com/research/researchreports

Houston Metro Area

Retail Expansion and Development Continue in Houston; Vacancy Keeps Tight Retailers growing locations in Houston, keeping vacancy tight as supply and demand level. Houstonâ&#x20AC;&#x2122;s long-term economic outlook is attracting retailers to expand in the market, and vacancy will remain tight through the remainder of the year. Local buyers driving transaction velocity, chasing credit and location as

REITs and institutions scale back. Confidence in Houstonâ&#x20AC;&#x2122;s retail market is prevailing, and assets in the metro will remain in strong demand over the coming months. High-net-worth private investors were previously priced out of purchasing Class A/B-plus multi-tenant retail properties as REITs and institutions built portfolios with area assets.

San Antonio Metro Area

Vacancy Falls as Needs-Based Retailers Take Space in San Antonio Necessities-based retailers expand amid strong migration trends. Retail vacancy will reach a new low in San Antonio in the coming months as tenant demand remains heightened and construction stays limited.

assets and intensified investor demand will persist through the remainder of this year. Sales activity for multi-tenant buildings in the area surged over the last 12 months as larger funds and out-of-state investors grew the buyer pool.

Investor demand intensifies as housing development picks up. Strengthening property operations are encouraging investment in San Antonio retail

August 2016

ray’s buzz

The "Three Legged Stool"

Shawn Cloonan

CCIM July Meeting Speaker: Shawn Cloonan, Exec. VP, General Counsel for Planning & Development at Texas Medical Center BY RAY HANKAMER rhankamer@gmail.com

Mr. Cloonan had some impressive information and statistics for the real estate professionals attending the June CCIM luncheon: • The Texas Medical Center (TMC) has an annual “GDP” of $25

• The healthcare industry is growing strongly because of the

• It is the largest medical center in the world with 50 million SF, and

• Multi-institution collaboration is key to attracting vital funding

billion

56 member institutions

• It is a ‘three legged stool’ with the legs being (a) clinical with 9200 beds (b )research and development and (c) commercialization of research results into products for the medical industry—this latter (c) is the main focus of TMC at the moment, in order to keep the entrepreneurial results here in Houston which derive from the research done here in Houston

• TMC is the 8th largest business district in the US

• 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide • Hotel Sites - Katy, TX

40 Years Experience As Services Hospitality Consulting Developer, Owner / Operator 40 Years Experience an d Commercial Broker As

• Acquisition of the 635,000 SF former Nabisco baking factory

has led to the formation of a life sciences park which serves as an incubator for fledgling ideas and tiny new companies in the medical field

which can be based in Houston

• Freeway Sites - I-20 - Monahans, TX

Hospitality Consulting Services

discoveries in medicine?” is the question TMC asks itself daily

• New ideas attract funding and potential result in new companies

• Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX

BROKERS, L.L.C.

• “How do we best leverage our size and quality to increase

applicants for the next session, where top experts in the various medical fields have a chance to interact and to ‘strike sparks’ with each other

PROPERTIES AVAILABLE

HANKAMER & ASSOCIATES

from the National Institute of Health (NIH) and other sourcescollaboration among the 56 members is also key to crossover innovation and commercially marketable results

• The Cohort Program hosted in this facility has attracted 600

Offering Properties & Hotel Consulting

Contact: Ray Hankamer

Affordable Care Act

H &

• Johnson & Johnson, the huge pharmaceutical company, has

created J-Lab here, and it has already attracted 22 new small companies which meet its exacting standards-now other Big Pharma companies want to come into the TMC

• Linking all this research is a new electronic web where

participating researchers can share results, thus facilitating new discoveries

• A vast new research area is planned south of OST on what is now

Agents: Ray Hankamer, Jr. rhankamer@gmail.com Pablo Szub szub@mail.com Sergio Pineda sergpineda@aol.com Dan Zimmerman danz@lacolombedor.com

Developer | Owner | Operator 28 August 2016• www.hankamer.com (713) 922-8075

713) 789-7060 www.hankamer.com

a huge parking lot-construction to begin next year with occupancy by 2020

THE CCIM LAPEL PIN denotes that the wearer has completed advanced course work in financial and market analysis, and demonstrated extensive experience in the commercial real estate industry. CCIM designees are recognized as the leading experts in commercial real estate.

The premier advocacy and networking organization for the Central Texas commercial real estate industry

Why Should You Join RECA? • Networking opportunities with other industry professionals • Access to development discussions with local government • Discounts on events and educational programming

Interested in advanced commercial real estate education? Call us. Learn More & Join:

972.233.9107 ext 206 | ntccim.com

WWW.RECA.ORG @RECA_Austin

fb.com/recaonline

The Real Estate Council of Greater Fort Worth provides exclusive opportunities for young professionals to excel in the commercial real estate industry. From networking events to our Mentoring Series, REC of GFW has you covered!

The Real Estate Council of Greater Fort Worth is an association made up of 350+ members of the commercial real estate development profession and its partners, including financial institutions, law firms, architects, engineers, and commercial construction companies. Our unified voice supports initiatives that will accomplish long-term job growth and economic opportunity while enhancing the quality of life in the August 2016 29 greater Fort Worth area.

Environmental Due Diligence Can Get Sticky. Let Us, Your TEXAS Environmental Consulting Firm, Help You Navigate Through Your Environmental Risks.

Melanie Edmundson, P.G., Principal 832 485 2247 Melanie@PhaseEngineering.com

Full range of nationwide professional environmental services including: Phase I and Phase II ESAs • USTs • Asbestos • Mold • Lead • NEPA Reports Vapor Assessments • Wetlands • Property Condition Assessments

Photos Credit CBRE: +/-20 Acres NEC FM 2004 at N. Brazosport Blvd. Richwood, TX 77515

events

BOMA AUSTIN bomaaustin.org BOMA SAN ANTONIO bomasanantonio.org CCIM ccimtexas.com CETA cetalliance.com CREW AUSTIN crewaustin.com CREW SAN ANTONIO crew-sanantonio.org CTCAR ctcaronline.com IREM AUSTIN iremaustin.org IREM SAN ANTONIO iremsanantonio.org

CENTRAL SOUTH TEXAS August 2016 Calendar MONDAY

TUESDAY

WEDNESDAY

RECA AUSTIN reca.org REC San Antonio www.recsanantonio.com RETAIL LIVE retaillive.com TABB Austin www.tabb.org/austin_chapter.php TABB San Antonio www.tabb.org/san_ antonio_chapter.php ULI AUSTIN austin.uli.org ULI SAN ANTONIO sanantonio.uli.org

THURSDAY 3

CREW Austin: Community Service Committee 11:30AM

REC San Antonio: BIG Data 7:30AM - 9:00AM

BOMA: URO - How does it affect me as a PM? 11:30AM - 1:00PM

FRIDAY 4

BOMA San Antonio: Back to School Drive Ends

CTCAR: Special Event Committee

CTCAR: Luncheon 11:30AM

RECA Austin: RECA Exchange 7:30AM - 1:00PM

CREW San Antonio: Luncheon 11:30AM

IREM Austin:Candidate Guidance Meeting 11:30AM - 1:00PM

BOMA San Antonio: Luncheon 11:30AM CTCAR: MCE Course 8:00AM - 6:00PM

TABB San Antonio: Monthly Luncheon 11:30AM - 1:00PM

ULI Austin: Breakfast 7:30AM - 9:00AM

IREM San Antonio: Lunch & Learn 11:30AM

CTCAR: Community Services Committee

CCIM: Luncheon 11:30AM

BOMA Austin: August Board of Directors Meeting 7:45AM - 9:15AM

ULI San Antonio: Orientation Breakfast 8:30AM

CCIM Austin: Networking Luncheon & Presentation 11:45AM - 1:00PM

BOMA Austin: August Monthly Membership Luncheon 11:30AM - 1:00PM

Retail Live: 12:00PM - 8:00PM JW Marriott

CREW Austin: Luncheon 11:30AM

CTCAR: Property Information Exchange 7:30AM - 9:00AM

ULI Austin: Young Leaders Tour 4:30PM - 6:30PM

BOMA Austin: Shoot Out Committee Meeting 11:30AM - 1:00PM

CREW Austin: Membership Committee Meeting REC Austin: Fundraiser for Christmas in October 5:30PM - 8:00PM

August 2016

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

August 2016

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CENTRAL SOUTHEAST TEXAS TEXAS SOUTH 13th Annual CREW Golf Adventure Save The Date! The Hills of Lakeway - September 26, 2016

October 2015

www.CrewAustin.org

BROUGHT TO YOU BY:

CREW AUSTIN

GOLF TOURNAMENT Save The Date September 26, 2016 www.crewaustin.org

BOMA SAN ANTONIO JUNE LUNCHEON

From Top: Dan Light wins the Malone Landscape Jackpot from Mike Malone Longhorn Lot Scholarship Recipient David Malley, Recipient Stephanie Sanchez, BOMA Education Chair Shalom Limon

CCIM AUSTIN IREM SAN ANTONIO

CHAPTER FAREWELL LUNCHEON FOR ANN AHRENS Standing from left to right: Diane Coliz, CPM, incoming IREM Association Executive Director, Past Presidents are as follows: Pat Ferris, Gene Bartosh, Mike Gately, Judy Holstein, Jamie Denton, James Stewart, Ginger Miller, Tom Duesing, John Anthis

JUNE LUNCHEON

Front Row: BOMA President Adrienne Cox, New members: Stephanie Rainbow, Craig Contreras, Maria Flores. Back Row: Jason Krusie

From Top: Mark Fugina, Max Thompson, Matt Mitchell Kassandra Hendrix, Jim Young, Celia Holbrook Tracy Watson, Sandy Plummer Nick Nelson, Brady Beckham, Bill Oates

August 2016

events

BOMA DALLAS bomadallas.org BOMA FORT WORTH bomafortworth.org CORENET NORTH TEXAS northtexas. corenetglobal.org CREW DALLAS crew-dallas.org CREW FORT WORTH crewfw.org/ IREM DALLAS irem-dallas.org IREM FORT WORTH www.fortworthirem.org

NORTH TEXAS

August 2016 Calendar MONDAY BOMA : Community Service Cell Phone Drive August 1st - 31st

TUESDAY 1

CREW Dallas: Networking Luncheon 11:45AM - 1:00PM

WEDNESDAY 2

BOMA Fort Worth: Luncheon 11:30AM - 1:00PM

CREW Fort Worth: Dine on the Town 6:00PM 8:30PM

NAIOP northtexasnaiop.com NT CCIM chapters.ccim.com/northtexas NTCAR ntcar.org REC DALLAS recouncil.com REC GFW recouncilgfw.com TABB DALLAS www.tabb.org TABB FORT WORTH www.tabfortworth.com/ ULI NORTH TEXAS northtexas.uli.org

THURSDAY 3

CREW Fort Worth: August CREW Luncheon 11:30AM - 1:00PM IREM Dallas: Executive Council Meeting

ULINT: RSI Executive Briefing 8:00AM 11:00AM

FRIDAY 4

REC Fort Worth: Mentoring Series 11:30AM - 1:00PM

BOMA: Fort Worth: Committee Meeting 12:00PM

ULINT: Signature Event 7:30AM - 10:00AM

IREM Dallas: Luncheon 11:30AM

IREM Fort Worth: Happy Hour 4:30PM - 6:00PM

BOMA Fort Worth: CSC Meeting 11:30AM REC Dallas: Mid Year Kickoff 5:30PM

BOMA Dallas: Monthly Luncheon 11:30AM 1:00PM

CREW Dallas: Industrial Luncheon 11:30AM

REC Dallas: Capital Markets Summit 7:00AM NTCAR: CE Classes 8:00AM - 4:20PM NTCCIM: Crowd Funding 9:00AM - 5:00PM

NAIOP: Breakfast 7:00AM - 9:00AM

BOMA Dallas: LEED Green Associate Seminar

BOMA Dallas: LEED AP O+M Seminar

BOMA Fort Worth: CSC Meeting 11:30AM NTCAR: CE Classes 8:00AM - 4:20PM

TABB Dallas: Monthly Luncheon 11:30AM 1:00PM

BOMA Dallas: Board of Directors Meeting BOMA Fort Worth: Business Exchange 3:00PM

August 2016

IREM Dallas: Credentialing and Preparation to a Heightened Career 12:00PM

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

August 2016

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October 2015

NORTH TEXAS

BOMA DALLAS

NT CCIM

From Top: Christy Walters of Duke Realty

BOMA DALLAS

From Top: Christopher Bailey, Jamie Oberreither, Justin Teal, Bob Heckel, and Nick Partain, take a small break from the hitting competition to pose for a group photo!

More than 200 members and guests enjoyed 18 holes of golf and beautiful weather.

Mark Graybill, CCIM, Howard Fuerst with some other Topgolf attendees smile for the camera. Mark gives the even two thumbs up!

Dallas Wins an International TOBY Awards BOMA Dallas members Tracey Pals of Crescent Real Estate Equities, LLC, who won Southwest Region Outstanding Member of the Year

3rd Annual Topgolf Championship

Annual Golf Tournament

Event Partners ReadyCap Lending smile big with other competitors and North Texas CCIM President, Saadia Sheikh. Top Team â&#x20AC;&#x201C; Congrats to John McClure, CCIM, Josh Potter, Todd Blair, Mark Marrie on winning Top Team of the day!

August 2016

events

ACRP acrp.org BACREN bacren.com BOMA HOUSTON houstonboma.org CCIM HOUSTON ccimhouston.org CORENET houston.corenetglobal.org C.R.E.A.M. creamtx.com CREN crengulfcoast.com CREW HOUSTON crewhouston.org FBSCR fbscr.com

SOUTHEAST TEXAS

August 2016 Calendar MONDAY

TUESDAY 1

C.R.E.A.M: Master Planned Communities at The Howard Hughes Corporation 11:00AM - 1:00PM

WEDNESDAY 2

Greater Houston Partnership: Energy Council 11:30AM-1:00PM

BOMA Houston: Leadership Lyceum 8:30AM - 10:00AM

FRIDAY

CREW Houston: Luncheon 11:30AM

CREN: Luncheon 11:00AM-1:00PM

BOMA Houston: Back to Schoo Bash 5:30PM - 7:30PM

CCIM Houston: Luncheon 11:30AM - 1:00PM

Greater Houston Partnership: International Trade Council 11:30AM-1:00PM

THURSDAY

IREM Houston: Brunch & Learn 8:30AM

Greater Houston Partnership: Transportation Council 11:30AM - 1:00PM

FBSCR: Breakfast 8:00AM

GREATER HOUSTON PARTNERSHIP houston.org HREC houstonrealestatecouncil.org IREM HOUSTON iremhouston.org NAIOP naiophouston.org O'CONNOR & ASSOCIATES poconnor.com SIOR www.sior.com/ TABB Group www.tabb.org ULI houston.uli.org

O'Connor: Land Forecast Luncheon 11:30AM-1:00PM

BACREN: Monthly Meeting 10:30AM 1:00PM

ULI Houston: Leadership Luncheon 11:30AM-1:30PM Greater Houston Partnership: Member Engagement Meeting

TABB Houston: Trade show 8:30AM - 4:00PM

TABB Houston: Happy Hour Mixer 4:30PM - 8:00PM

CREN Houston: Marketing Session 7:30AM - 9:00AM IREM Houston: Personal Safety Workshop 1:30PM

TABB Houston: Trade show 8:30am - 4:00pm

ACRP/SIOR: Breakfast 7:00AM - 8:30AM CREN Houston: Happy Hour 4:30PM-7:00PM

CoreNet: Sponsor Appreciation Reception 5:00PM - 7:00PM

Greater Houston Partnership: Quality of Life Council 11:30AM

August 2016

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

August 2016

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SOUTHEAST TEXAS

TGS CEDAR PORT Client Event

From Top: Audie Cavazo, Matt Norwood John Ferruzzo, NAI Global

BACREN

May Luncheon

FBSCR TABB

JUNE MEETING From Top: Kris Russell, Karl Maier Panelist Tom Caughlin, CapStreet, Bryan Luce with Principia Capital Ryan Shelton with Rock Hill Capital, Curtis Hartman, Main Street Capital. Speaking: Tom Caughlin with CapStreet Ray Fernandez, George Kurisky

JULY BREAKFAST From Top: Ray DeLaughter, VantageCFO and coowner of Typhoon Texas Waterpark â&#x20AC;&#x201C; Katy Ray DeLaughter , Danna Sossen, President of FBSCR Joe Loverdi of South Texas Surveying; Jennifer Horan, Elizabeth Palmer of Phase Engineering

From Top: Linda Amador-Stephens, Vice President Integrity Bank, Jasper Tramonte, Tramonte Commercial Brokerage, Kelly Hutchinson, Commercial Houston Corporation Jan Briggs, Keller Williams Commercial, Randy Drake, The Brown Company, Rosebud Caradec, Advent Waterfront Properties Inc., Ramona Little, Business Development Manager Capital Title, Becky Pool, Assistant Manager, Capital Title

Ike Samad, Re/Max SW, Kevin Riles, Upscale Properties Lynn Krause, SouthTrust Bank and Ray Meyer of Paradigm Consultants, Inc.

August 2016

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CENTRAL SOUTH TEXAS Austin/San Antonio Areas

Photo Courtesy: Austin Business Journal

AUSTIN, TX

DRIPPING SPINGS, TX

OFFICE CONSTRUCTION

RETAIL/THEATER CONSTRUCTION

Google signed a lease for 200,000 sf at 500 W. 2nd Street and $20.2 million in build-out is planned for the first 140, 000 sf.

OFFICE LEASE

ShipStation, an e-commerce software shipping company, has leased 22,000 sf at Lamar Center located at 38th Street & North Lamar Blvd.

OFFICE LEASE

AUSTIN, TX

Cognitive Scale, formerly a subtenant at 9500 Arboretum has become a permanent tenant in 35,751 sf allowing the building to continue its 100% occupancy. Chris Skyles of Skyles Bayne represented the tenant and Bethany Perez, Ben Tolson & Bart Matheney with AQUILA Commercial represented the landlord.

RETAIL SALE

OFFICE SALE

The Blackstone Group purchased Phases I & II of Southpark Meadows shopping center, approximately 910,000 sf, located at 9300 â&#x20AC;&#x201C; 9900 I35S for $271,000,000 from Canadabased RioCan REIT. The deal was part of a $1.9 billion, 50-property portfolio sale which also included nearby Stassney Heights, a 102,916 sf strip center.

CA-based Menlo Equities purchased the 230,000 sf Champion Office Park located near RR2222 & Capital of Texas Highway. The property is largely leased to Austin-based Indeed. com

OFFICE/APARTMENT SALE Walter Saad formerly of CBRE, has joined HFF Austin as managing director

Cathy Nabours formerly of CBRE, has joined HFF Austin as managing director

Blake Matheus has joined Cushman & Wakefield as an associate as the first addition to the Austin team specializing solely on net lease assets.

Los Angeles-based investment firm CIM Group purchased a 94,500 sf, four-story office building located at 1645 E. 6th Street. Included in the sale was a 700-space parking garage along with the adjacent 346-unit The Arnold apartment complex.

RETAIL SALE

CORSICANA, TX HOTEL SALE

Mason Pollard has joined Peloton as an associate in their San Antonio office

August 2016

A local private investor purchased Motel 6 Corsicana, a 110-room hotel located at 2018 South Highway 287 from an individual/personal trust. Skyler Cooper, Chris Gomes & Allan Miller of Marcus & Millichap handled the transaction.

Sky Cinemas, a 14-screen movie theater will anchor the Belterra Village mixed-use development at the southwest corner of US 290 & Nutty Brown. The first phase of the center will include approximately 200,000 sf retail, hotel, medical office and senior living facilities.

LAKEWAY, TX MEDICAL HOSPITAL SALE

Baylor Scott & White Health purchased Lakeway Regional Medical Center, a 106-bed, 271,000 sf hospital that opened in April 2012. The property was owned by LRMC Operating Company, a Tennessee investment firm that purchased the property after the owner defaulted on its mortgage.

NEW BRAUNFELS, VICTORIA, TX The Carter Validus Mission Critical REIT purchased a medical portfolio in Texas & Louisiana for $71 million. The purchase includes five healthcare facilities including 157,755 sf. The properties are located in New Braunfels, Victoria,, Hammond, Louisiana & Covington, Louisiana.

ROUND ROCK, TX RESORT/CONVENTION CENTER/WATER PARK CONSTRUCTION

Kalahari Resorts & Conventions announced plans to construct a resort, convention center & water park on 350 acres located across US 79 from Dell Diamond. The indoor water park is projected at 200,000 sf, a 990-room hotel is planned & a 150,000 convention center. The Round Rock Kalahari resort is expected to open between May 2020 & October 2020.

SAN ANTONIO, TX INDUSTRIAL LEASE

Grayco Communications leased 4800 sf at 919 Billy Mitchell from Port Authority of San Antonio. Jana Edwards of DH Realty Partners represented the tenant and Joe Carroll of Cavender & Hill Properties represented the landlord.

MEDICAL OFFICE SALE

Inland Real Estate Acquisitions Inc purchased four medical office properties totaling 72,776 sf located at 7832 Pat Booker Road, 18540 Sigma Road, 9157 Huebner Road and 5255 Prue Road.

OFFICE CONSTRUCTION

Weston Urban, the San Antoniobased real estate development firm, has revealed the Pelli Clarke Pelli designed Frost Tower that will be constructed in downtown San Antonio winter 2016. The building will be 23 stories with 420,000 sf and is scheduled for completion in late 2018. This is the first downtown office tower in San Antonio in 27 years.

OFFICE LEASE

Galen College of Nursing is expanding from 41,800 sf to nearly 68,000 sf at One Technology Center located at 7411 John Smith Drive. Suzznne Havekost with Kennedy Wilson represented the landlord, Hartman Income REIT.

OFFICE SALE

City-owned utility company CPS Entergy is buying & renovating the three-building, 430,000 sf AT&T complex located along the River Walk off McCullough Avenue & Avenue B. The new headquarters is scheduled to be completed in 2019.

RETAIL LEASE

Sports Clips leased 1278 sf, Mattress Firm leased 4,147 sf, Pacific Dental leased 3060 sf and GNC Nutrition leased 1278 sf at Singing Hills Retail Center located at the northwest corner of Hwy 281 & SH 46. Todd Gold and Kim Gatley with REOC San Antonio represented the landlord.

RETAIL SALE

New Market has purchased the 64,287 sf H-E-B anchored Oak Park Village Center at 1901 Nacogdoches in Alamo Heights from Hines. The property is part of an eight property portfolio deal with Hines. New Market has acquired 35 retail properties across the Sunbelt region since February 2014.

RETAIL SALE

New York-based Blackstone purchased the 464,000 sf Alamo Ranch at 5305 W. Loop 1604 North, 139,520 sf Arbor Park Shopping Center at 17700 US Hwy 281 N & 78,666 sf, Ingram Hills located at 6020 Ingram Road from RioCan REIT.

ARLINGTON, TX

FORT WORTH, TX

OFFICE LEASE

MID-RISE RESIDENTIAL DEVELOPMENT

2M Research, a health research company, leased 12,177 sf at 1521 N. Cooper Street. Derek Alexander with Hartman Short Term Income Properties XX, Inc. provided in house representation.

COPPELL, TX INDUSTRIAL LEASE

Triathlon Battery Solutions, Inc leased 19,000 sf at 631 Southwestern Blvd. The tenant was represented by Biel Partners and the landlord was represented by Jeremy Kelly of Stream Realty Partners.

DALLAS, TX DISTRIBUTION CENTER SALE

A Boston-based advisory firm purchased the newly completed 630,000 sf Niagra Bottling distribution center in Mountain Creek Distribution Center located at 7343 Grady Niblo Road. The seller was represented by Randy Baird, Jud Clements, Robby Rieke & Taylor Starnes of Cushman & Wakefield.

INDUSTRIAL SALE

Brennan Investment Group, a private REIT, purchased a 129,061 sf industrial warehouse located at 8220 Ambassador Row from Argenta Partners. Jamie Jennings, James Mantzuranis & Caitlin Clinton represented the seller.

RETAIL NET-LEASE SALE

A private 1031-exchange buyer purchased a 67,953 sf Chick-fil-A net-leased property located at 15335 Montfort Drive. Vincent Knipp and Ryan Wolf of Marcus & Millichap represented the buyer.

D/FW AIRPORT, TEXAS DISTRIBUTION FACILITY LEASE

CA-based Hely & Weber, an orthopedic goods manufacturer & distributer is moving its Ohiobased distribution hub to 40,000 sf at 755 Regent Blvd. Hely & Weber is considering relocating its California headquarters to North Texas. Luke Davis & Jordan McFarland of Stream Realty Partners represented the tenant and Steve Trese of CBRE represented the landlord.

Dallas-based Lang Partners LLC has begun construction on a 327-unit apartment complex at West Rosedale & Oleander Streets. The project is located in the hospital district and the developer has received approval for $1.2 million in tax-increment financing.

RETAIL SALE

An individual/personal trust purchased the 37,500 sf Forty Oakes Shopping Center located at 5405-5425 East Lancaster Avenue from a limited liability company. Blake Burnett & Chance Hales with Marcus & Millichap represented the seller and Lisa Estrada of Marcus & Millichap represented the buyer.

FRISCO,TX HOTEL DEVELOPMENT

& Pflugerville & a Taco Bell in Frisco, and a Chick-fil-A in San Antonio. John Zikos, Jonathan Cooper, Christopher Gibbons & Don Miller of Venture Commercial Real Estate represented the sellers.

GARLAND, MESQUITE, PLANO, TX RETAIL SALES

JAH Realty, LP purchased three Tom Thumb shopping centers including Pioneer Plaza, a 16,200 sf center at Pioneer & E. Cartwright in Mesquire, Shiloh Square, a 24,038 sf center at Arapaho & N. Shiloh in Garland and a 17,509 sf center at Alma & Hedgecoxe in Plano. The sellers were Annaly Commercial & Pine Tree Commercial and were represented by Chris Cozby & Chris Gerard of CBRE.

MIXED-USE DEVELOPMENT

Fresh Express & Chiquita Brands International purchased the 113,000 sf industrial facility they had been leasing for $19.5 million. It is located at 2370 West Warrior Trail and was sold by Chicago-based Rose FP LLC. Marc Bonilla of Colliers International represented the buyer & seller.

A 15,374 sf restaurant & retail row is under construction in Hall Park which will bring three restaurant concepts & two neighborhood services retail stores to serve corporate tenants in the park.

FRISCO, PFLUGERVILLE, SAN ANTONIO, TX RETAIL NET-LEASE SALE

Four separate buyers purchased single-tenant netleased properties involving two Raising Caneâ&#x20AC;&#x2122;s Chicken Fingers restaurants in Frisco

Dallas/Fort Worth Areas

DALLAS, TX BOMA Dallas Wins International TOBY Award in Industrial Category

GRAND PRAIRIE, TX DISTRIBUTION CENTER CONSTRUCTION

RESTAURANT/RETAIL DEVELOPMENT

NORTH TEXAS

Outstanding Building of the year. Freeport X

NewcrestImage, a Lewisvillebased developer, plans to develop a new four-brand 600room hotel campus at The Hub in Frisco Station. Construction will commence in January 2017 on an AC Hotel & Residence Inn by Marriott & Canopy by Hilton & Hyatt Place near the northwest area of the Dallas North Tollway & Warren Parkway. CA-based American Newland Communities in a JV with Japanbased North America Sekisui House is buying 729 acres south of Main Street between Independence Parkway & Custer Road for the development of 2100 homes/apartments as well as retail & office development. Construction should commence by the end of the year.

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Motion Industries Inc., a Birmingham-based industrial parts distribution is building a 156,000 sf distribution center at 200 W. Trinity Blvd off Highway 161. The company plans to expand their industrial supply segment.

Freeport X Management Team

INDUSTRIAL SALE

LaSalle Investment Management purchased the 602,950 sf RiverPoint Commerce Center located in the 3000 block of Roy Orr Blvd. Jack Fraker, Josh McArtor & Ryan Thornton partnered with Cannon Green & Sarah Ozanne with Stream Realty to broker the sale.

Don Farmer has joined Greystone Servicing Corporation as a director

Debi Carter has joined Capstone Commercial Health Services as a partner

GRAPEVINE, TX SPORTS FACILITY CONSTRUCTION

Fieldhouse USA is building its second US indoor sports facility adjacent to Grapevine Mills mall. The 106,000 sf facility construction is expected to commence soon. August 2016

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SOUTHEAST TEXAS Houston Area

Photo Courtesy: Houston Business Journal

ALVIN, TX RETAIL LEASE

EM Marketing, a San Franciscobased consulting firm & agency, leased 60,000 sf at 1701B Fairway Drive. Jarrett Dunaway of Mohr Partners International represented the tenant and Dan Silvestri of Silvestri Investments represented the landlord.

BAYTOWN, TX MASTER-PLANNED DEVELOPMENT

INDUSTRIAL LEASE

CONROE, TX

MIXED-USE DEVELOPMENT

Roberto Contreras, president & CEO of Houston-based DC Partners is planning a $500 million mixed-use development at the southeast corner of Allen Parkway & Gillette Street in early 2018. The 6.01 acre project is expected to feature a hotel, residential, office & retail space.

OFFICE BUILDING SALE

An undisclosed bank/financial institution has sold Wedgewood Falls Office Building located at 5452 Highway 105 to an undisclosed buyer. Keith Lloyd of Marcus & Millichap represented the seller.

CROSBY, TX AUTO DEALERSHIP CONSTRUCTION

Lisa Hankamer has joined Marcus & Millichap’s hospitality investment sales team

Larry Koestler has joined NAI Partners as Vice President of Marketing

Nederland Land Company purchased 2.32 acres from Kenneth Pendleton for Turner Chevrolet of Crosby for the expansion of a dealership at Highway 90 & FM 2100. The seller was represented by Joe Evans & Janae Evans of Evans Properties and the buyer was represented by Rose Johnson of H-Town Real Estate Investments.

DEER PARK, TX OFFICE LEASE

Dow Chemical Company leased 75,920 sf in Deerwood Office III located at 4460 Texas 225. Craig Beyer, Jeff Cutler & Kristian Nielsen of CBRE represented the tenant and Charlie Christ of Clay Development & Construction represented the landlord.

HOUSTON, TX HOTEL/HIGH-RISE RESIDENTIAL

Medistar Corp has closed on a construction loan to construct a 35-story, 375 luxury high-rise apartment project and a 21 story hotel just north of Holcombe at the intersection of Main Street & Old Main. The project will include more than 1.1 million sf 40

August 2016

INDUSTRIAL LEASE

TSC Apparel leased 89,060 sf of industrial distribution space at Apex Distribution Center located at 10634 Tanner Road. John Ferruzzo & Darren O’Conor of NAI Partners represented the tenant & Matteson Hamilton & Blake Warren with Stream Realty Partners represented the landlord, Crow Holdings.

Houston-based Wells Holdings is planning a master-planned community on 189 acres bordered by the Grand Parkway & FM 2354. Homes priced in the $250,000s will be constructed on the property.

HOUSTON, TX

and Greystar will be developing the apartment tower.

Southwest Media, Inc leased 60,000 sf of manufacturing/ distribution space at 15625 Vickery. Chris Caudill of NAI Partners represented the tenant & Matteson Hamilton & Jeremy Lumbreras of Stream Realty Partners represented the landlord, Prologis.

INDUSTRIAL SALE

718 Heights LP, an affiliate of Radom Capital LLC purchased a 20,000 sf warehouse on 32,750 sf of land at 718 W. 18th from Solomon H. Eisenbaum Family LP for the redevelopment of retail/restaurant space. The seller was represented by Solomon Eisenbaum and the buyer was represented by Barrett Von Blon of Davis Commercial.

INDUSTRIAL SALE

EADO908,Ltd, an affiliate of Wile Interests, Inc, purchased a 98,000 sf, 3-story loft building located at 908 Live Oak.

OFFICE LEASE

A total of 45,845 sf has been leased in Energy Tower located at 11750 Katy Freeway. Tenants include Robert Half International with 11,201 sf, Nobilis Health Corporation with an additional 12,414 sf, KimleyHorn with 15,837 sf and Infinity Hydrocarbons with 6345 sf.

OFFICE LEASE

Patterson-UTI Energy Inc leased 35,553 sf at 10713 W. Sam Houston Parkway North. Dan Boyles Jr & Liz Westcott-Brown with NAI Partners represented the tenant and Ryan Bishop & Brad Fricks of Stream Realty Partners represented the landlord.

OFFICE LEASE

Texas Mutual, an Austin-based insurance company, leased 23,451 sf at 9811 Katy Freeway. Brad MacDougall & John Green of MetroNational represented the landlord in-house.

OFFICE SUBLEASE

Audimation Services, a data analysis software & service company, subleased 17,859 sf at 1250 Woodbranch Park Drive. Andrew Spence & Cape Bell of Cushman & Wakefield represented the tenant.

RESIDENTIAL HIGH-RISE DEVELOPMENT

Randall Davis & Roberto Contreras are moving forward with a 95-unit condominium development at the southwest corner of Caroline & Polk. Approximately one-half of the units are sold. The developers will receive a tax incentive of $15,000/unit through the city’s Downtown Living Initiative.

RETAIL LEASE

Daiso leased 9,675 sf in the Market at Westchase located at Westheimer & Wilcrest from Weingarten Realty Investors. Heather Nguyen & John Nguyen of NewQuest Properties represented the tenant & John Wise of Weingarten Realty represented the landlord.

RETAIL LEASE

King’s Biergarten LLC leased 6,090 sf at 2036 E. TC Jester from2036 TC Jester LLC. Ashley Williams & Chris Dray of NewQuest Properties represented the landlord and Hugh Ruggles & Mac Ruggles of NewQuest Properties represented the tenant.

RETAIL LEASE

Harbor Freight Tools, a retail chain provider of tools, leased 16,000 sf at Southwest Plaza located at 8150 S. US 59. Gary Warner of Investar Real Estate Services represented the landlord.

RETAIL SALE

An affiliate of RE:Vive Development has sold the 31,068 sf South Heights Retail Center located at 2802 White Oak Drive. Derek Hargrove, Davis Hansen & Justin Miller of Marcus & Millichap represented the seller.

RETAIL SALE

Hines Real Estate Investment Trust Inc has approved a plan for liquidation & dissolution of the company. They are selling a portfolio of eight groceryanchored retail centers to New Market Properties LLC, a subsidiary of Preferred Apartment Communities Inc located in Atlanta. The projects include centers in four southeast states including Champions Village in Houston.

ADVERTISER INDEX A. A. Realty Company 25 Capital Retail Properties 22,23 CBRE 1,2 Greenberg & Co. 12 Hankamer Commercial Brokers 28 Houston Commercial Development 17, 21 ICSC Texas Conference 43 John Daugherty Realtors 14,15 Levcor, Inc. 21 NewMark Grubb Knight Frank 21 NT CCIM 29 Parkside Capital 3 Phase Engineering, Inc. 30 PlusCorp 12 Real Estate Council Austin 29 Real Estate Council Ft. Worth 29 Retail Live! 42

classifieds & index Showalter Law 41 Sluco Realty Services 8, 9 TABB 29 Tarantino Properties Inc 13 The J. Beard Real Estate Company 7 Waller County EDC 17 Windrose 44 Wolff Companies 5 Wolverine Management 17

In Next Month's Issue... Civil Fair Play will bring you an update on Ashby Highrise

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