REDNews July 2015 by RE Journals

July 2015 June In this2015 issue:

5 Things To Know In this issue:

Your Commercial Real Estate Marketing Source

e riv

ria mo

Terry Hershey Park

10.4 Acres

Addicks-Cullen Park 14,000 Acres

Data Insight: Industrial State of the Market Roundtable

Hike & Bike Trail

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

Texas Retail Reports Live/Work/Play Outlook For Texas Markets CBRE OfficeLand Reports

Republic Square

15.3 Acres Central Park West Blvd.

Hike & Bike Trail

ow Park R I-10 HOV/TOLL ROAD CONNECTOR

713-626-8050 www.wolffcompanies.com

At the center of The Energy Corridor facebook.com/REDNewsMagazine

REDNews Commercial Real Estate Marketing Source

@REDNews_CRE

SAFETY | AMENITIES | VALUE | VISION | BEAUTIFICATION

REDNews

Big-business amenities for small-business budgets

There are many big new office buildings in Westchase District perfect for large, international companies. But what if you’re not a giant company? Don’t worry; you can still enjoy all the benefits of the District in a smaller, more affordable multi-tenant building. Many are newly updated. Some offer whole-floor opportunities. And they all offer access to everything you’d expect from the District: great mobility, beautiful surroundings, desirable amenities, close proximity to many of the city’s leading companies, and easy access to our new trail system. So learn more today. Learn more: WestchaseDistrict.com or 713-780-9434 2 | REDNews.com

WESTCHASE. WHERE BUSINESS IS MOVING.

REDNews

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REDNews

IN THIS ISSUE

C O N T E N T & F E AT U R E S

PROPERTIES FOR SALE/LEASE

1, 2, 5, 7-9, 11, 13, 1-3, 5, 7 – 12, 14 – 25, 27 – 29, 15, 17, 19, 34-36 33, 36- 41, 54 – 56

COMMERCIAL SERVICES

Environmental 22 Legal Services 34 Moving & Relocation 34

WHAT’S HAPPENING IN TEXAS CRE

Calendar of Events 24-29 Networking Photos 24-29 Deals & Announcements 30-32

ARTICLES Outlook For Texas Land Weitzman Retail Reports Who’s Driving the Bus?

4 | REDNews.com

10 12, 14, 16, 18 20-21

HALTOM CITY OFFERS OVER 400

ACRES OF LAND FOR COMMERCIAL AND MIXED-USE DEVELOPMENT.

Major retail and commercial development opportunities along Interstate 820 in Haltom City. Great highway frontage and close approximation to Interstate 35W, downtown Fort Worth and adjacent to residential growth Tax Increment Finance Zones

5024 Broadway Avenue \ Haltom City, Texas 76117 \ 817-222-7723 \ HaltomCityTX.com RRE EDDNNeewws s. c . coomm || 5 5

REDNews

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

PUBLISHER

PUBLISHER’S LETTER Dear Readers,

hat a month for rainfall record setting! In May Texas posted an average of 8.81 inches of rainfall. The closest we’ve come to that amount of rain in years was in June 2004 with 6.6 inches. The elevator in our office building is still inoperable due to the Memorial Day drenching we received which flooded our parking garages. I’m thankful our office is on the first floor!

Thank you to Ian Pierce from The Weitzman Group for sending us his “5 Things To Know” about the Texas retail market which we have printed in this issue. Austin, Dallas, Houston and San Antonio are boasting 90%+ retail occupancy rates. Houston’s retail occupancy is the highest in years and Austin has the highest occupancy at close to 96%.

Other good news is Charlie Gilliland’s Outlook for The Texas Land Market from the A&M Real Estate Center’s Land Conference. Land prices have gone up and Charlie anticipates only a modest slow down. “Where else is a person going to invest money – especially foreign investors? I hope you’re having a fabulous summer and enjoy your July 4th holiday!

Ginger Wheless ginger@rednews.com

EDITOR Marjorie Gohmert info@rednews.com

STAFF WRITER Janis Arnold janisarnold1@gmail.com Brandi Smith info@rednews.com CONTRIBUTING WRITERS Ray Hankamer rhankamer@gmail.com ART DIRECTORS Samuel Leger graphics@rednews.com Susan Nguyen

DIGITAL DIRECTOR Laura Salazar digital@rednews.com E-MARKETING MANAGER Samuel Leger emarketing@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com

SALES Bri Martinez bri@rednews.com Ginger Wheless ginger@rednews.com

Best Regards,

Ginger Wheless

PRINT & DIGITAL DISTRIBUTION REDNews is directly mailed each month to commercial real estate brokers, investors & developers. Texas Brokers 7,650 Texas Leasing/Tenant Rep 6,232 Texas Investors 4,979 Texas Developers 4,710 Outside Texas Investors, Brokers, Developers, etc 81,577 Total REDNews Distribution: 105,148 REDNews Has Gone Green Using Recycled Paper Thank you, Midway Press To subscribe to REDNews call 713.661.6300 or log on to www.REDNews.com/subscription/ 5909 West Loop South, Suite 135 Bellaire, Texas 77401

6 | REDNews.com

20,500 SF, fully-insulated warehouse or retail supply building with sprinkler system. Fenced parking/storage and Rear loading.

REDNews.com | 7

Personalized Service. Proven Results.

www.tarantino.com ASHFORD PROFESSIONAL

909 Dairy Ashford Rd, Houston, TX 77079

NANES PROFESSIONAL

17030 Nanes Dr, Houston, TX 77090

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

MEDIC AL • Two Story Medical/ Professional Office Building • 11,929 NRA Contiguous Space Available on Second Floor • Located 2 Miles from the Houston NW Medical Center • 15 Minutes from IAH & The Woodlands

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

• New Ownership • 1,000-56,000 NRA Available • Building Identity Available • Beautiful Atrium Lobby with Granite Finishes

• 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

NORTHGREEN ATRIUM BUILDING

1300 N. Sam Houston Parkway Houston, TX 77032

7575 SAN FELIPE

7575 San Felipe Houston, TX 77063

• 46,462 SF, Three Story Medical Office Building • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance

OFFIC E • 1,510-2,398 SF Available in Suburbs of the Galleria • Common Areas, Lobby & Restrooms Remodeled in 2015 • Monument Signage Available • Numerous Shopping Centers & Restaurants Nearby

• 1, 117- 8,849 SF Available • Lobby & Common Areas Remodeled in 2014 • Covered two (2) story parking garage • Located near the Energy Corridor

908 E. SOUTHMORE

908 E Southmore Blvd, Pasadena, TX 77502

PASADENA PROFESSIONAL

3315 Burke Rd, Pasadena, TX 77504

NORTHCHASE BUSINESS PARK

14505 Torrey Chase Blvd Houston, TX 77014

1505 HIGHWAY 6

1505 Highway 6 Houston, TX 77077

TOWNSHIP SQUARE

WOODFOREST SHOPPING CENTER • UP to 23, 000 SF Available • End Cap Available • NWC I-10 E Frontage @ John Ralston

10907-11095 I-10 East Houston, TX 77029

RESEARCH PLAZA

RETAIL • 3,965 SF End Cap Available • Freeway Visibility from I-45 North • Ample Parking • Anchored by Walgreens, Party City, Subway

19189 I-45 North Shenandoah, TX 77385

DE ZAVALA

12770 Cimarron Path, San Antonio, TX 78249

1005 INDUSTRIAL

• Up to 6,845 Retail Space Available • Easy Access to Highway 6 & U.S. Hwy 59 • Traffic Count Exceeds 30,653 CPD

• 3,000 – 10,000 SF, Flex Office & Biomedical Space Available • Climate Controlled Warehouse • Generous Tenant Finish-Out Allowance • Northwest Location with Easy Access to I-10 & 1604

• Hard Corner of Hwy 90 & Dairy Ashford • Up to 3,901 SF Available • Great Co-Tenancy • Traffic Count Exceeds 78,000 CPD

• Suite 250: 4,225 SF Warehouse & 3,336 SF Office Space Available • Easy Access to Beltway 8, I-45 and IAH • 2 Semi-Dock High Loading Bays • 1 Up- Ramp Allowing Drive in Access • Air Conditioned Warehouse

INDUSTRIAL • Stand-alone 15,000 SF Building • (3) 10ft. Roll Up doors- Grade Level Loading • Warehouse Ceiling Height 20ft. • New Roof

7887 San Felipe, #237 Houston, TX 77063 (713) 974-4292

SUGAR POINT SHOPPING CENTER

9920 Hwy 90 Sugar Land, TX 77478

15340 VANTAGE

15340 Vantage Parkway E, Houston, TX 77032 INTERCONTINENTAL BUSINESS PARK

• 10,663 SF Available • 3 Phase Power • 18ft Ceiling Height • Easy Access to Beltway 8

1005 Industrial Sugar Land, TX 77478 CORPORATE OFFICE:

3340 FM 1092 Missouri City, TX 77459

15344 Vantage Parkway E Houston, TX 77032 SAN ANTONIO OFFICE: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222

AUSTIN OFFICE:

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

REDNews

OUTLOOK FOR TEXAS LAND MARKETS: Review of past year’s land market developments and projections for the year ahead... Dr. Charles Gilliland

harles Gilliand is the Real Estate Center’s land market expert. He has been studying land prices since the 1980s and is known throughout the state as the man to go to if you have questions about Texas land. In 2010, he was inducted into the Farm Credit Bank of Texas Hall of Honor for his “significant contributions to agriculture.” At the Center, Dr. Gilliland concentrates on research of appraisal issues, development issues, property rights, rural land markets, property taxation, water marketing, and associated issues. Despite all of the bad news we heard in 2014, none of that bad news made any difference in land prices. Corn prices were down 51 percent, cotton dropped 29 percent and oil staggered 50 percent. Rig counts in the Eagle Ford were down 49 %; in the Permian Basin they are down 54 %, and overall in the U.S. they are down 50 %. None of this seems to matter, as the response has been: who cares? We continued to see a strong demand for recreational properties. There was a strong demand for crop land and prices went up 9 percent. Land prices are up 33 percent since 2009, and up 124 percent since 2004. In 2014, the statewide average for land was $2,364 per acre. It took us 38 years to top $1,000 per acre and only 9 years from that point to top $2,000 an acre. The average price for small tract rural land in 2014 was $5,049 per acre. Historically, we see a strong and close co-movement between oil and land with land prices following oil prices after a one to three year lag. In other words, we might expect land prices to go down 1-3 years after oil drops. Therefore, oil prices have been the leading indicator of Texas land prices. When oil stalled in 1980, land stalled in 1985. During the years between 1985-2000 prices remained pretty stagnant. Monthly oil prices started to decline in December 2014 and in January 2015, so a case could be made that oil prices haven’t had time to act on the land markets yet. Texas personal income in relationship to land prices may have more effect on the amount of land that changes hands as opposed to the actual price of the land. Our current economic issues include: oil prices, drought, bumper crop depress prices, rising interest rates (?), and a currency ‘struggle’. Prices seen in rural land for 2014: In region one, large tracts were up 10%, and small ones were up 12%. Small was defined as 160 acres or smaller. Out in the Panhandle and South Plains, there was not a lot of activity. What we did see was that larger property prices went up, but there was some retreating on smaller properties. The number of 2014 10 | REDNews.com

transactions was similar to what we saw in 2012 and 2013. In region 3 small property prices were strong at about $2,500 an acre, while larger ones were a little bit flat. In the northeast section, small property is defined as less than 33 acres. Large property was up about 8%. During the last couple of years, the level of activity increased quite a lot; this area was the last one to start increasing after the big downturn in 2009, and the total number of acres was up substantially. In region 5, the Gulf Coast and Brazos small property (less than 43 acres) is taking a pretty big increase in 2013. Large properties 10% but there was no remarkable movement in

Bottom area, break after a did increase this area.

Region 7, comprised of Austin, Waco, and the Hill Country, defines small property as less than 50 acres. The average price was $7,764 per acre, while large price properties averaged $3,238. It’s a different market than it used to be. The Hill Country volume of activity was up again in 2014, although not quite the level we saw in 2005. What lies ahead in 2015? A diversified economy will protect Texas. We anticipate a modest slow-down and for markets to continue to forge ahead. However, it will take time to work off the glut. It may be that diversification is less than we thought, and it may be that 2015 will be challenging for Texas. We may want to make arrangements, as in preparing for some stormy weather. We expect to see some scrambling to find solutions, as buyers and sellers realign their desires and willingness to buy. This year we expect to see a slowdown in the number of acres that change hands, but prices are anticipated to stay steady or perhaps even improve. The key to our expectation that land prices aren’t going to decrease significantly despite what is happening in the oil market is this: Where else is a person going to invest money, especially as foreign investors still need to find a place to park their money.

REDNews

serviNg the ceNtrAl texAs hill cOuNtry ANd surrOuNds EXCLUSIVE LISTING

from

T H E P RO P E RT Y

exclusively listed trOphy rANches with prOxiMity tO AustiN, sAN ANtONiO ANd d/Fw

Class A Industrial/ Office Park • H O U STO N , T E X A S M SA • B E LOW M A R K E T R AT E S • 9 0 , 0 0 0 N RS F • 5 BUILDINGS • $10,500,000 • 7 . 8 8 % C A P R AT E

Spring Lake ranch

ruShing river ranch

A large spring complex puts out 40–50gpm into one of the most this rolling liveoak ranch features over one mile of frontage on the scenic and deep lakes in this highly sought-after upper turtle creek strong-flowing san saba river just below the headwater springs, L E A Rkerrville. N M OARnice E A T 5lies 1 2along 5 0 1the1 6including 0 4 • Bgood E L frontage LOMY Owidest . C Oand M deepest hole in the area area just outside charming lodge onCthe lakeshore, with beautiful rock patio bulkheaded into the shoreline, suitable for jet skiing. excellent variety includes deep soil valleys, • • timbered river bottom, mesquite/pear flats, limestone outcrops providing easy access for kayaks, fishing, snorkeling, floating and heavy private relaxation. paved interior roads, manicured rolling rangeland and hilltops with distant vistas. can be split into tracts of 500–1500 and tons of wildlife round out the package. $9,932/acre = $2,950,000. acres, best area price of $2,275/acre for all.

self storage investment sales

•

Landowners are willing to invest big money not to have power lines cross their property. They consider this worth investing in and fighting for. Recently, there has been as much as a 40% reduction in property value when there are power lines over the property.

•

Pipelines can’t be rerouted, but landowners are demanding significant value added in restoration phase after the pipeline is put in place.

•

Wildlife management in Texas began 20 years ago. 3 million acres have been converted to wildlife management. This has been concentrated in areas where agriculture is not as significant a factor: 40% of Hill Country, and 6% of land in south Texas is in wild life management. Buyers are looking for that kind of land and opportunity, as they no longer have to be in agriculture to get affordable, recreational land.

•

financing solutions

Another example of developing rural land in a new manner can be seen in Lagos Manor. There will be a total of 1664 lots. The developers are creating green belts and are building lakes for marketing purposes. Lagos Manor will manage and the stock lakes. The developers are really investing in making these functioning wildlife areas. Another bonus is that they don’t have to get water permits as long as they are using the water for wildlife management for up to 200 acres.

Summary to property owners looking to sell: Before you dress the land up, think about buyers who want something different. Consider doing something less manicured. While grasslands have great appeal in Texas lore, they are not the only beauty and value that we have in our rural land. People’s perceptions of grasslands as the dominant landscape are a myth. It is not provable that grasslands are the best use for many properties.

New wildlife use appraisal regions and wildlife minimum acreages are in place. The size of lots sold to qualify for wildlife management exemptions varies throughout the state. river canyon ranch BLue LakeS river ranch Easements are used to increase/add value; but in Example: the center of the ranch state,lies individuals will banks pay Conservation this rugged Near but stunningly beautiful on the north thiscases neat ranch featuresvalue. 3,000’What of frontage on the conchotoday river, many they restrict is new and different almost zero property taxes on 12.5 acres so people are no of the fabled llano river, in an historic and remote area west of which is up to 175’ wide in this area, and is loaded with fish. beautiful that there is now a legal thatbank wasriver, created in thebottomland late 70s longerincluded willing to 5 or 10 acres that part ofnative Texas. One is pecan Mason. is buy a permanent spring,inoutstanding whitetail and oak bottoms linetool the dirt and fertile that allows lawyers and landowners to break open the dramatic example can be seen in what is happening in Lakedeer, awesome pecan bottom and staggering long range views of fields include large stock ponds, pecan orchard and grassbundle suitable sticks and manage landowner’s property way. original development planwater was to createin70 lots out one of The the prettiest stretches of live known texas. this of for hay.and A restrict good ranch hQ’s provides value and utility,rights and in the blank canvas includes a secluded, overlooking the multiple overallways. look is fairly open and clean, though there is adequate cover of the 135-acre tract. Of courseprivate it takeshomesite a lot of infrastructure teal in both directions, a totally self-contained, spring-fed for deer, turkey and birds. Minerals are available, as are additional to river support 70 lots, so theand owners considered a different opcanyon thatultimately flows water much of the time. = They $2,011,500. personal items and accessories. $2,950/acre = $1,920,450. tion, and that is what they are$4,500/acre going with. are selling 6 lots slated to become private nature preserves. The ̶ 830.997.8616 210.422.4676 owner’s taxes will be $150 a year on their land and the costdec@landtx.com ̶ www.landtx.com to the developer is significantly decreased as there is less ̶ MAsON Fredericksburg cost in building roads and utilities for six lots as opposed to 1031 exchANge speciAlist 70.

REDNews.com | 11

REDNews

THE WEITZMAN GROUP

THINGS TO KNOW:

The Weitzman Group and Cencor Realty Services reviewed the major Texas retail markets as of the first quarter 2015 and provide the following brief summary of their key findings. Weitzman/Cencor calls this summarized report: • 5 Things: A quick read on key retail market trends in Austin, Dallas/Fort Worth, Houston & San Antonio

AUSTIN

ustin ranks as the strongest major retail market in Texas in terms of occupancy, and as retail demand remains high and construction limited, that is set to continue. The market as of spring 2015 is posting occupancy nearing 96 %. Here are 5 things to know about Austin’s retail market. 1. The retail market, despite high occupancy and positive movement in jobs, population and housing, continues to see constrained new construction. New space additions in 2014 totaled only 1.2 million square feet. This year, construction totals should be closer to 1.5 million square feet, but that total is still low for a market in the midst of a strong economy. 2. New space in 2015 will include new anchor stores from Sam’s Club, Walmart, leading grocer H-E-B, LA Fitness, Trader Joe’s and Hobby Lobby and small-shop retail and restaurant space in a number of 10,000- to 15,000-square-foot neighborhood centers and street-level retail components in urban mixed-use projects.

ed projects. For the best-located new-construction projects, rates have reached the $40-per-square-footor-higher level. 4. Job growth, housing growth and commercial growth are on track to ensure that Austin’s retail market maintains its health. • The April 2015 unemployment rate is 3.0 % (!), its lowest point in nearly a decade. • Austin’s housing market is setting records, with existing home sales up by 13 % and median home prices up 10 %. Home starts increased nearly 14 % in 2014 to 10,700 units and are on track to total 12,000 for 2015. 5. Austin ranks as the No. 3 metro area in the nation, with annual population growth of 3 % and growth of 13.2 % over the past five years. Today, the population stands at 1.9 million people.

3. The availability of well-located Class A retail is the most constrained, and therefore, this class of rents is leading the market in terms of gains, with average rates above $30 per square foot for shop space in newly construct12 | REDNews.com

Continued on page 14

REDNews

SALES PRICE: $9,225,000 ($15,000/ACRE)

+/- 615 ACRES | MIXED-USE DEVELOPMENT/JV OPPORTUNITY Highway 321/105 & Highway 105 Bypass Cleveland, TX

The Woodlands

To Houston E. Ho u

U.S. Highway 59 (Southwest Freewa y) sto

nS t. Cleveland High School dle Mid and Clevel l Schoo

DARRELL L. BETTS, CCIM Principal

Cleveland, TX

TIMBERCREST

HUNTER R. JAGGARD Vice President Capital Markets Group D 713.993.7828 | F 713.993.7701 hunter.jaggard@avisonyoung.com

Capital Markets Group D 713.993.7704 | F 713.993.7701 darrell.betts@avisonyoung.com avisonyoungcapitalmarkets.com | avisonyoung.com

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REDNews

THE WEITZMAN GROUP

THINGS TO KNOW:

HOUSTON

ouston’s retail market posted its best overall occupancy rate in years, with only 4 % of the market’s 150 million square feet vacant.

coming from Whole Foods, Sprouts, LA Fitness, Costco, Cabela’s, Walmart Neighborhood Market, Fiesta Mart and others.

Five key things to know about the market follow below:

4. Malls are big in Houston. Houston has the distinction of seeing two major mall expansions in the works at a time when enclosed-mall construction nationwide is all but dormant. This year will see a 555,000-squarefoot expansion of Baybrook Mall and the expansion of leading mall The Galleria, including redeveloped space created when Saks relocated to a new space within the malls, as well as a new multi-family tower. Houston is also seeing some large mixed-use projects, including CityPlace, a north Houston project designed to have a mix of uses, including 400,000 square feet of retail, upon completion.

1. The rapid drop in the price of oil is leading some to question whether the market can maintain that high level of occupancy in 2015. However, the economy today is far less dependent on energy than in the 1980s, so the impact should be lessened, and lower gas prices are increasing consumers’ disposable income. 2. The market is growing, with 157,000 new residents last year, and the metro area population now totals around 6.6 million. During the 12 months from March 2014 to March 2015, the Houston area added 82,500 net new jobs. 3. Even as the market tightens, the new construction remains constrained by historical standards. During 2014, the market added just 1.7 million square feet, and 2015 is on track to see that total exceeded, but not by a significant amount. New space this year is 14 | REDNews.com

5. The 2016 market is already coming into shape. For example, Kroger Marketplace just broke ground on a 123,000-square-foot store in Clute, and more new retail is coming from H-E-B and other anchors.

Continued on page 16

FOR SALE

GREENBERG & COMPANY

FM 2920 FRONTAGE UNRESTRICTED COMMERCIAL PARCELS

Commercial Real Estate Brokerage Firm

GREENWAY PLAZA/UPPER KIRBY 3323 Richmond Avenue Houston, TX 77098

34 Acres; all or part

FOR LEASE Property Information

15 Acres; all or part

Building Size: 12,300 SF Land Size: 19,000 SF NET - NET - NET Major Thoroughfare along Richmond Ave. Great Visibility High Traﬃc Counts 41 Covered Parking Spaces

$3.95 P/SF

This is a single tenant Office building with Classic architecture from the 1960’s Neuhaus & Taylor boxed-on-stilts-above parking. They property is located one block East of Buffalo Speedway where there is new development. Just minutes from the Galleria, the # 1 shopping and tourist destination in Houston. Easy access to the Southwest Freeway and Loop 610. Traffic count on Richmond is 35,570 Contact Broker: David Greenberg David@greenbergcompany.com Phone: 713-778-0900

REDNews

• 34 Acres site size • 1,450 feet frontage on FM 2920 • 550 feet frontage on Mahaffey Road • Water & Sewer lines onsite Dowdell PUD • 2 Curb Cuts on FM 2920; 1 on Mahaffey • Traffic controlled Steubner Airline @FM 2920

Lease Price: Call For Details

• 15 Acres site size • 884 feet frontage on Mahaffey • Water & Sewer lines onsite Dowdell PUD • 2 curb cuts on Mahaffey • Traffic controlled Mahaffey @FM 2920 • Klein ISD #32 Elementary School adjacent

GREENBRIAR REAL ESTATE SERVICES INC. 5625 FM 1960 West Suite 402 Houston, Texas 77069 Louis Braden or Rich Norris (832) 721-8304 or (713) 805-3178 lrb009@hotmail.com or rsn52@hotmail.com

WWW.GREENBERGCOMPANY.COM 5959 Richmond Ave., Suite 440 Houston, TX 77057

Downtown

SOLD

COMPLETED

the Galleria

S. Gessner Rd.

COMPLETED

610 Medical Center

SOLD

COMPLETED Twin Star Bakery

Beltway 8 S.

COMPLETED Stream Warehouse Development

FOR SALE 82 Acres Cravens Rd. SOLD

S Gessn

Pike Rd.

Main St

S. Gessner Rd.

Texas Pkwy.

Fondren Rd.

Rd.

W. Airport Blvd.

P ik

S. G

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Sta

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ffo

18 Acres can be subdivided

90 A/ S.

t wa

FOR SALE

S Gessner Rd.

Texas Pkwy. US Hwy.

SOLD

COMPLETED Global Geophysical Services

COMPLETED

Beltway 8 S.

S. Gessner Rd.

SOLD

UNDER CONSTRUCTION International Package Delivery Company

SOLD

Bel

UNDER CONSTRUCTION International Package Delivery Company

COMPLETED Stream Warehouse Development

COMPLETED

W Bellfort Ave.

SOLD

Cravens Rd.

SOLD

COMPLETED Ben E. Keith

SOLD

COMPLETED Stream Warehouse Development

er Rd

SOLD

COMPLETED Global Geophysical Services

can be subdivided

SOLD

Main St .

SOLD

COMPLETED

can be subdivided

FOR SALE 18 Acres

COMPLETED Twin Star Bakery

90 A/ S.

SOLD

COMPLETED

US Hwy.

COMPLETED

Fondren Rd.

W. Airport Blvd.

SOLD

COMPLETED Stream Warehouse Development

SOLD

H w y.

90A/

n S. M ai

St .

FOR SALE 82 Acres

can be subdivided

A PROJECT OF

INVESTMENTS

tripp.rice@4minvestments.com RREEDDNNeewwss. .ccoom m || 1155

REDNews

THINGS TO KNOW:

THE WEITZMAN GROUP

DALLAS/ FORT WORTH

allas/ Fort Worth’s retail market is currently reporting an occupancy rate of approximately 91 %, its highest occupancy since 2004. Five key things to know about this dynamic market are: 1. D/FW, with more than 190 million square feet serving one of the fastest-growing markets in the country, ranks at or near the top nationally in terms of job growth, population growth, apartment and office construction and overall economic activity. 2. In terms of construction, grocery stores dominate new projects. For 2015, Kroger Marketplace, the grocer’s 123,000-square-foot concept, is the most active traditional grocer with five new locations opening in 2015 and at least two store expansions. 3. D/FW is also seeing a number of new and expanded mixed-use projects in 2015. Park Lane in North Dallas expanded with new retail space for retailers including a Forever 21 concept called F21 red and the first J. Crew Factory store in Dallas. New mixed-use project West Plano Village opens this year with AMLI apartments, street level retail and restaurant space and second-level office space. Restaurant and retail space is 16 | REDNews.com

for concepts such as Kona Grill, Princi Italia, AT&T flagship and others. 4. During 2014, the market only added 2 million square feet of new space, a blip on a 190-million-squarefoot inventory. For 2015, D/FW is on track to add at least 3 million square feet, still a relatively restrained total but one that would rank as the highest construction level in seven years. New space is being added by Kroger, WinCo Foods, Whole Foods Market, Walmart, Target, Fresh Market, Cinemark, Trader Joe’s and others. 5. We can’t talk about construction without highlighting the massive 560,000-square-foot Nebraska Furniture Mart, which opened earlier this year and which is prompting area development, including a new Best Buy-anchored center now under construction. In other words, Nebraska Furniture Mart is the anchor creating what is basically a new retail district, almost overnight.

Continued on page 18

REDNews

PROPERTY FOR LEASE 5330 Gulfton Street

Offering Properties & Hotel Consulting

Houston, TX 77081

PROPERTIES AVAILABLE • Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide • Hotel/Retail/Restaurant/Office Sites - League City, TX

Property Features:

Contact: Ray Hankamer

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

40 Years Experience As Services Hospitality Consulting

H &

Brokers: Ray Hankamer, Jr. rhankamer@hankamer.com Pablo Szub szub@mail.com

Developer, Owner & Operator

Sergio Ortiz 40 Years Experience As sortiz@hankamer.com Developer | Owner | Operator

(713) 789-7060 • www.hankamer.com

          

Close proximity to Loop 610 & Hwy 59 Lease Rate: .37/SF Net Immediately Available Total: 61,608 SF Ofﬁce: 4,000 SF ±20’ Clear height Galleria Climate controlled 4 Grade level doors 1 Semi dock door Sprinkler system Can install additional grade level or dock high doors

Downtown

www.ngkf.com

13) 789-7060 www.hankamer.com

EXCLUSIVE LISTING

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T H E P RO P E RT Y

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THE WEITZMAN GROUP

THINGS TO KNOW:

SAN ANTONIO

S an Antonio’s retail market has seen occupancy climb over the past 12 months, to a 93 percent rate.

more locations on tap for 2015. H-E-B, the market’s No. 1 grocery, also added two new stores last year and has more in the works. The most high-profile

Five key things to know about the San Antonio retail market are:

non-grocery project, Dominion Ridge, opened with a high-end mix of office and retail/restaurant space for concepts including Silo Elevated Cuisine, Alda-

1. The market continues to see new retail construction, which topped 1.4 million square feet in 2014, but it is limited mainly to anchor space for users. Construction of small-shop speculative space continues to be limited for 2015, reflecting developers’ desire to ensure that retail construction does not outpace retail demand. 2. The market’s available space continues to shrink as leasing continues during a time of constrained construction. Several long-vacant boxes, like a former department store, have been backfilled in recent months. Other trade areas are seeing construction of small-shop neighborhood centers to meet demand for space in trade areas that are essentially completely leased. 3. Grocery stores continue to dominate the construction of new space. The most active is Walmart, which opened five Supercenters and four smaller Neighborhood Markets in 2014, and which has 18 | REDNews.com

co’s Mexican Cuisine, Di Frabo Italian, Posh Sushi, Toy Zone, iRun, CuppenCake, First American Title, Salons by JC and several others. 4. Walmart and H-E-B will dominate construction again this year. Walmart is opening at least three stores in 2015, and H-E-B has stores in the works to open this year and next. 5. Other retailer concepts expanding in 2015 include Top Golf, with a 65,000-square-foot entertainment concept, its first in San Antonio, and Gold’s Gym, LA Fitness and others.

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REDNews

RECAP: TEXAS A&M LAND CONFERENCE 2015 By Janis Arnold for REDNews

MARKET DRIVERS OF THE ENERGY SECTOR:

Detlef Hallermann Detlef Hallermann is an Associate Clinical Professor and Director for the Reliant Energy Trade Center at Texas A&M University. He began his talk at the April 2015 land conference with this disclaimer: All thoughts are my own and I bear no responsibility for your investment decisions based on this presentation. Hang on, the ride is just beginning! In the United States, production is growing and increasing, although our supply is constrained by transportation issues. We’ve got too much crude in the wrong places at the same time we are seeing an increase in Middle Eastern unemployment and unrest. OPEC figured that if they could cut back on their production, they could keep prices up. They tried to work with Russia. They wanted to cut production in Russia and each OPEC producer 3%, believing that they could get $80 oil, except they all cheat and none of them trust each other. Hence none of them would agree to the collective cuts. Therefore, the current crude market became one big football game. In North American, the players / producers, are plentiful. There are lots of them out there, sort of like Pop Warner football. With respect to the minor OPEC players, those are all family run businesses, and a lot of those guys are producing quite a bit of oil. Regarding dominant OPEC members, that’s primarily Saudi Arabia. World oil production levels are up. Over a five-year period we’ve doubled our production, Saudi Arabia is now the second largest producer. Other countries are significant and in Canada, they’ve doubled their production in the last five years as well.

20 | REDNews.com

The United States is the refining capital of the world; we’re importing at a lower rate due to the production in our country. Our light crude oil imports have shrunk to a tanker a day, and this is from Canada; we’re getting none from Nigeria and Angola,.Needless to say, this is having an impact in those countries. The good news is that we’re really close to becoming energy self-sufficient in North America. We produce 9% of the world’s energy, and we refine and export back out to the rest of the world. The obvious take-away from this fact is that refining firms are good places to put investment money these days as the refining companies are making big profits right now.

WHO DROVE THE BUS THAT RAN OVER US?

North American Transportation Summary: The Keystone Pipeline got shut down again. We still need to move crude from Canada to the U.S. down to Gulf of Mexico where it can be refined. Keystone alternative: Enbridge Mainline: bringing oil from Canada to Chicago; our crude in Cushing, Oklahoma was selling at $50, we flooded that market. Without the Keystone Pipeline, we would ship by rail crude from Canada to the Gulf Coast, and a little over a million barrels a day will reach ports from Canada. Within two years we likely won’t need to import crude oil from outside of North American. Regarding North American Production: there has been significant growth for the last 2-3 years, and this is just starting to slow down. With OPEC, we’re seeing a goal line stand. This is really punishing Russia, which supports Iran and Syria. Saudi Arabia is unhappy with this state of affairs. Yeman, the closest neighbor to Saudi Arabia, is in trouble. People have stopped paying attention to the Saudis and they are worried because they don’t control everything that they see. The Saudis are more worried about the Iranians than they are about us. Islamic clerics have historically been in control of what happens in the region and that has changed. In the second quarter of the game this year, we saw North America’s response: January 2 was national “lay off your contract land-men” day. They kept going until 2015. Now we see rig personnel being laid off, and service companies are experiencing huge layoffs. To put this in perspective, bear in mind that General Electric lays off 10% of their work force every year, and our oil and gas companies grew their workforce by 15% to handle increased demand, suggesting that layoffs aren’t significant at 7%. It is also important to note that producers haven’t laid off anyone; the layoffs are in service companies.

REDNews

Gas vs oil: We’ve seen more drop off in crude oil than in natural gas, which hasn’t changed much. We’re going to end up making a lot more money on natural gas as we start exporting. Horizontal vs vertical rigs: In 2009 all vertical rigs that were laid off didn’t come back, the ones that returned came back as horizontal rigs. Saudi Rig Activity: From Oct 13, there has been a steady increase in rig counts going up. This is when the Saudis started realizing they were losing their monopoly producer status. Increasing their rig rates going up signaled that they were taking off their kid gloves. What does this suggest for the rest of the year: The companies that don’t have much leverage will be the first to go. Those with a percentage of production that is hedged may be in trouble. Firms with a lot of debt are the most vulnerable. Bear in mind that 80-90% of the mailbox money comes in during the first 3 years. Right now we’re not seeing a lot of blood in water; that’s going to start but slowly, and dependent upon the amount of reserves a company has. Borrowing base re-determinations happen every spring and fall. companies at risk are those with a high PDNP. Most of the independents did a real good job of hedging, and banks incentivized the companies to hedge 2016. Right now oil and gas companies are holding their breath. They don’t want to lay off people, because they

Predictions for the rest of year: Domestically, there will be no Mergers & Acquisition / Divestiture Activity until June/July. We’ll see banks refining and restructuring of lending agreements.We’ll see independents converting PE Debt into Equity. We may also see production declines starting in Q 3. Again, this will not be hemorrhaging so much as restructuring. We will also see production declines starting in Q3. American companies and business are amazingly resilient. One Austin company that was seeing $55 a barrel production is now at $43 a barrel. Over here, we’re adapting.

Internationally: At the June meeting, Saudi Arabia will instill some quotas, and the producers will agree to this because of how badly they have all been hemorrhaging this past year. By Q4, we will see signals of arecovering industry, Facts that will drive prices: decreasing supply domestically, Eagle Ford, Balkan, Permian, seeing immediate and dramatic response on the supply side Example: In December 2014 after oil prices fell, there were more SUVs sold in one month than in the previous 24 months, that shows you how quickly Americans respond to lower oil prices, with an increase in demand Others factors that may come into play: international supply disruption (ISIS), unemployment in Middle East stands at 40-50% so it is easy to understand why so many people can take off work to join ISIS. Supply growth related to an increase of refining capacity throughout the world

don’t want to have to rehire if prices come back up. Fiscal Break Even Prices aren’t the same across the playing field. Related to International Blood Flow, a citizen of Saudi Arabia gets 40K a year. The royal family pays them to live there. Unemployment is very high. Saudi Arabia, with oil prices of $55 a barrel, has a huge deficit, if oil prices continue to fall, they, being self-financed, will likely have to blink first.

Likely we will see supply and demand responses, prices respond, we’ll come up to $58 a barrel slowly working in fits and starts. There is still an inventory of wells that need to be completed, slowly companies will bring one rig on where they previously had 7 or 8 going. New permits will be issued. The industry will get worse before it gets better. We’ll have a volatile Q2-3 and by the end of 2015 maybe we’ll be up to $70 a barrel.

REDNews.com | 21

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C A N C A L E N D A R

A N N O U N C E

W H AT â&#x20AC;&#x2122; S HAPPENING i n C R E Te x a s

The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to REDNews.com. We update CRE news and events daily!

N E T W O R K

July

2015 Monday

Sunday

Tuesday

Wednesday 1

RECA May Networking Event

CENTRAL/SOUTH TEXAS

IREM Austin Luncheon 11:30am-1:00pm

CREW San Antonio

20 CCIM Central Texas Cl 104 Course 8:00am-5:00pm

CTCAR MCE Course 7:30am-9:00am

RECA RECA REAL YP Social Event 6:00pm-10:00pm

CREW Austin Luncheon 5:00pm-7:30pm

21 CCIM Central Texas Chapter Social 5:00pm-7:30pm

F. E.

FOR MORE INFORMATION VISIT REDNEWS.COM 24 | REDNews.com

Networking Calander Thursday

Friday

Saturday 3

BOMA Austin July Executive Committee Meeting 11:30am-1:00pm

RealShare Austin

Photo Index

A. RECA’s Staff posing

for a picture with event sponsor, Bri Martinez, REDNews

BOMA Austin BOIM Managing the Organization 6:00pm-9:00pm

B. The successful event 9

took place at The Market

C. REDNews sponsors

BOMA Austin july Board of Directors Meeting 7:45am-9:00am

CTCAR Property Info Exchange 7:30am-9:00am

BOMA Austin BOMI Managing the Organization 7:30am-9:00am

RECA’s May Networking Event

D. CREW members 16

pose for a photo at the June Luncheon

E. CREW leaders with

BOMA Austin july Monthly Membership Luncheon 11:30am-1:00pm

June Luncheon speaker Randy Smith, Weston Urban.

F. CREW held a charity 23

drive for Project Cool, which donates fans to seniors in need.

CTCAR Luncheon 11:30am-1:00pm CREW San Antonio Movie Mixer 6:00pm-9:30pm

G. Attendees listen to

the “strongest roster of attendees” of any local event at RealShare AUSTIN.

H. Keynote Speaker,

Clay Johnston, Dean at the Dell Medical School at the University of Texas at Austin

I. Michael Toney, ALM Real Estate Media Group

FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

REDNews.com | 25

July

2015 Monday

Sunday

Tuesday

Wednesday 1

NORTH TEXAS

8 CREW Fort Worth Meeting 11:00am-12:00pm

CREW Dallas Monthly Meeting 12

2014 Sponsorship Packages now available!

Is your company looking for exposure and recognition in the

B.commercial real estate industry?

Is your company looking for

commercial real estate women

SPONSORSHIP OPPORTUNITIES START AT $750.

CREW Dallas Luncheon 11:30am-1:00pm

Is your company looking for exposure and recognition in the commercial real estate industry?

SPONSORSHIP OPPORTUNITIES START AT $750.

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

commercial real estate women

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

2014 Sponsorship Packages now available!

exposure and recognition in the CREW Dallas Breakfast commercial real estate industry? 8:00am-9:00am SPONSORSHIP OPPORTUNITIES START AT $750.

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

CREW Dallas Happy hour 5:30am-7:00pm

BOMA Fort Worth Board of Directors Meeting 12:00pm-1:00pm

commercial real estate women

BOMA Dallas July Luncheon, Sponsored by LOGIX Communications 11:00am-1:00pm

29 NT CCIM Class Happy Hour TBD

FOR MORE INFORMATION VISIT REDNEWS.COM 2014 Sponsorship Packages now available! Is your company looking for exposure and recognition in the commercial real estate industry? SPONSORSHIP OPPORTUNITIES START AT $750.

26 | REDNews.com

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

commercial real estate women

Networking Calander Thursday

Friday

Saturday 3

Photo Index

A. Elsa Grivas, Judy

Willoughby

B. Paula Petelle, Mulie

Martellino, Melinda Alford

9 ULI North Texas YLG Summer Networking Reception 7:30am-9:30am BOMA Dallas Bowling Tournament Lane Sponsorship 5:00pm-9:30pm

BOMA Dallas Adopt a Block

Kassandra McLaughlin, Sally Longroy, Joe Willoughby and Tony Adamo

D. More than 30

people volunteered.

E. Volunteers helping

fix a house to pass inspection.

F. Volunteers at the

BOMA Dallas Industrial Special Interest Group Session 3:00pm-4:00pm

BOMA Dallas Adopt a Block event.

North Texas CCIM June Happy Hour 23

C. Josh Marrrow,

G. Brad Crumpecker,

CCIM and guest enjoy the June CCIM Happy Hour, Deals and Drinks.

H. Collin Flynn,

CCIM and other chapter guests at the NTCCIM June Happy Hour Deals and Drinks

I. Left to right â&#x20AC;&#x201C; Jay

Lucas, CCIM, Pam Spadaro, CCIM, Debi Carter, CCIM

J. (left to right) Collin H.

FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

Flynn, CCIM, David Schnitzer, CCIM, Bill Hopper, Saadia, Sheikh, CCIM, Chris Mims, CCIM smile for a photo at Princi Italia at the June Happy Hour Event

REDNews.com | 27

July

2015 Monday

Sunday BOMA Houston BOMA Expo 2015

Tuesday

Wednesday 1

SOUTHEAST TEXAS

8 Greater Houston Partnership Coffee with the Consults: Australia 8:30am-10:00am

CREAM Luncheon 11:00am-1:00pm

Greater Houston Partnership Energy Council 11:30am-1:300pm Greater Houston Partnership Healthcare Council 11:30am-11:30pm

21 FBSCR Meeting 8:00am-9:00am

15 AAREA July Luncheon 11:30am-1:00pm

Your real estate de

O’Connor®& Associates Apartment/Multi-Family Count on a CPM professio Forecast Luncheon . 10:30am-1:00pm

CREW Houston Members Only Summer Luncheon 26

® 28 CPM

ACRP Cocktails/Networking 5:00pm-7:00pm

29For

o turn

IREM Houston ® IREM Executive Council Board Meeting 4:00pm

To find a CPM in your area, visit www.irem-dallas.org

FOR MORE INFORMATION VISIT Networking

28 | REDNews.com

Educat ion

A CP z De z Ple REDNEWS.COM z sta Pro

Technology

CCIM Course Scholarships CI 101, CI 102, CI 103, CI 104 or CCR & Exam

IREM AUSTIN PRESEN

Networking Calander Thursday

Friday

Saturday

Photo Index

A. The BOMA 2015

was BOMA’s largest Expo to date

B. The event hosted

1300 attendees and 140+ booths

IREM Houston IREM Fashion Show

CCIM Houston Luncheon 11:30am-1:00pm

Duncan and IREM Houston 2015 Chapter President Kristine Fox, CPM with Stream Realty took a turn on the runway!

models after their final walk on stage.

I. 24

G. CREW Members 25

learned tips to leverage social media tools

H. Crystal Washington motivated entertained and educated a packed house

I. Will L. Condrey

K. 30

D. (L-R) Kelly Hendrix

F. All of the show’s

O’Connor & Associates Land Forecast Luncheon

BOMA Expo 2015

E. (L-R) Deborah

CREN Marketing Session 7:15am-9:00am

C. ThyssenKrupp at

and Ashley Dollar with Stream Realty.

RICH Main Event and Trade Show 8:30am-12:30pm

CREN Luncheon 11:00pm-1:00pm

Houston BOMA Cost Saving Strategies Seminar No time posted yet HRBC Breakfast featuring Lt Governor Dan Patrick 7:00am-8:30am BACREN Luncheon10:30am-1:00pm

CREN Happy Hour 4:30pm-6:30pm

(speaker), Cushman & Wakefield; Kirk Laguarta (speaker), Land Advisors Organization

J. Claude Leatherwood,

Independent Bank; Will L. Condrey, Cushman & Wakefield

K. Cody Nicholson, FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

CNE Acquisitions; Vaughn Mueller, CNE Acquisitions; Henry Hill, TAO Interests; Frederic Hawley, Community Bank of Texas

REDNews.com | 29

REDNews

ANNOUNCEMENTS Central/South Texas Austin/San Antonia Areas

Guyla Sineni

Jonathan Haag Guyla Sineni and Jonathan Haag have joined JLL. Both were formerly associated with United Commercial Realty in San Antonio.

Jonathan Haag has joined JLL. Was formerly associated with United Commercial Realty in San Antonio.

Dustin Slack

Prior to joining JPI, Slack led teams at McShane Development Co., Forestar Real Estate Group and Trammell Crow Residential.

RETAIL Austin, TX: (SALE) Houston-based Whitestone REIT purchased the 129,000 SF Davenport Village retail center located near Pennybacker Bridge. The seller was LSREF2 Windmill REO Davenport LLC. This is Whitestoneâ&#x20AC;&#x2122;s first Austin acquisition.

Austin, TX: (LEASE) Marquee Event Group leasetd 101,190 SF at North Tech Business Center 4 located at 4616 Howard Lane. Andy Thomas with HPI Real Estate Services & Investment represented the landlord and Mark Milstead with REOC Austin represented the tenant.

Austin, TX: (CONSTRUCTION) Brandywine Realty Trust, an East Coast REIT, is constructing an office, parking & retail structure at 405 Colorado Street. The property was purchased in April and requests for proposals have been issued.

LAND

Georgetown, TX: (SALE) Troop & Associates purchased 32 acres at the SEC of Ronald Reagan Blvd & RR 2338 from Willrae Partners II Ltd. . Ercel Brashear with Brasher Properties represented the seller and Jerry Heare with REOC Austin represented the buyer.

INDUSTRIAL Pflugerville, TX: (LEASE) Innovative Print Management leased 8,529 SF at Wells Point One Business Park, 1007 S. Heatherwilde Blvd. Mark Milstead with REOC Austin represented the landlord and Leigh Ellis with Aquila Commercial LLC represented the tenant.

Leander,TX: (SALE) Firstmark Credit Union sold 18.3 acres at the corner of Old FM 2243 West & N. Bagdad Road to Bruce Nakfoor, a local developer. The property will be developed with a mixed-use project. Ernest Brown with Kennedy Wilson represented the seller.

Austin,TX: (SALE) A private investor acquired 1301 W. 5th Street from Southwestern Bell Telephone for $12.5 million. The building has 11,413 SF.

San Antonio, TX: (SALE) Brass Real Estate Funds & Convergence Communities purchased 880+ acres at SH 211 & US90 on the western outskirts of Loop 1604. The land will be developed with a master-planned community including residential, apartment, retail and office space.

MULTI-FAMILY Austin,TX: (SALE) Presidium Group teamed up with St. Croix Capital Advisory Services to purchase the 160-unit Hunterswood Apartments located at 409 William Cannon Drive E. Presidium now owns six projects in Austin & is currently severl land parcels in the area.

San Antonio, TX: (CONSTRUCTION) Stream Realty Partners is developing a first-of-its-kind adult community in San Antonio. The 150 unit project will cater to 55-plus. It is located in Stone Oak, just north of Stone Oak Parkway & Hardy Oak Blvd. Construction is expected to commence in early 2016.

Austin, TX: (MANAGEMENT) Tarantino Properties has been awarded the management for the Elysian at Mueller, a Class A project located in the heart of Austin, minutes from downtown.

San Antonio, TX: (SALE) Houston-based Rockspring Capital purchased 10 acres at the corner of Loop 1604 & Military Highway. The property will eventually be sectioned into four retail pad sites.

OFFICE

Austin, TX: (CONSTRUCTION) KDC, a Dallas-based developer, is planning to build a 100-acre corporate campus at the SWC of SH 71 & SH 130. The jv partner is SH71-130 Holdings LP, a local group that includes Karl Koevel, Doug Launius and George Robinson III. The trio purchased 390 acres in December 2014.

Austin, TX: (CONSTRUCTION) Lincoln Property Company is planning to construct two 87,000 SF Class A office buildings called Lantana Ridge at 7601 Southwest Parkway. Groundbreaking is scheduled for July 2015.

Austin, TX: (SALE) Sun Holdings Group purchase Elysian at Mueller from CityStreet Resiential Partners. The off-market deal was facilitated by Pat Jones of ARA, a Newmark Company.

Austin, TX: (REDEVELOPMENT) Austin-based NoackLittle Architecture & Interiors purchased a 22,000 SF building located at 220 Industrial Blvd near South Congress Avenue & Ben White Blvd with plans to convert the warehouse into creative offices, including its headquarters.

San Antonio, TX: (SALE) San Francisco-based Olympus Property purchased Tacara at Westover Hills, a 312-unit project located in the Westover Hills submarket.

Austin, TX: (LEASE) Amazon has leased 75,000 SF in two contiguous floors at Domain 7, located at 11501 Alterra Parkway. Endeavor Real Estate Group VP Jonathan Tate & Travis Dunaway represented the landlord.

Austin, TX: (CONSTRUCTION) Crescent Communities & Endeavor Real Estate Group are developing a 90- acre, 275,000 SF mixed-use project on US 290 in far SW Austin adjacent to the Belterra community near Nutty Brown Road & Belterra Drive. Construction is expected to begin in early 2016.

Austin, TX: (SALE) Austin Partners sold a 3-story, 42,600 SF building located at 4611 Bee Caves Road to a private Las Vegas-based investor. Patrick Ley and Matt Fain of ECR represented the seller and Fain also represented the buyer.

30 | REDNews.com

For more deals go to: www.REDNews.com/category/deals-and-announcements/

REDNews

ANNOUNCEMENTS

Denise Browning

North Texas

Dallas/Ft. Worth Areas

Denise Browning, SR VP of Madison Marquette, has been named state director for the Texas ICSC. She will be overseeing the ICSC Texas Conference & Deal Making in November.

Joel Sanders

Investment real estate executive Joel Sanders, CCIM, CPM has joined VITA Residential as a Managing Director and Partner where he will oversee and grow a multifamily apartment community Acquisitions division for the company.

INDUSTRIAL

Dallas, TX: (CONSTRUCTION) Frisco Station developer VanTrust Real Estate is planning a 2.5 million SF industrial complex on 150 acres on Dallas Avenue just south of I-20. First up are two spec building including 900,000 SF and 150,000 SF. This is VanTrust’s first industrial deal in Dallas.

Fort Worth, TX: (SALE) An undisclosed North Texas investor purchased Riverbend Center, a four-building industrial complex totaling 188,355 SF at 2301-2435 Gravel Drive & 7401-7445 Pebble Drive. Todd Lambeth of Colliers International represented the buyer and Jeff Givens of Transwestern represented the seller.

Irving,TX: (LEASE) Hilti Inc is the first tenant at Parc Royal, a 30-acre complex located on West Royal Lane. They have leased 65,000 SF from Jackson-Shaw, represented by Blake Kendrick of Stream Realty Partners. Hilti was represented by Forshey Hoobler of JLL.

North Richland Hills, TX: (SALE) Fort Worth-based Frank Kent Motor Company purchased a 125,000 SF facility to server as HQ for SW ADI, its General Motors accessory distribution business. The property is located at 65550 Wiliger Way .

LAND

Winnsboro, TX: (SALE) Timber Creek Ranch, a 346- acre working and recreational ranch, located on Lake Cypress Spring, was sold by auction for an undisclosed record price. There were nine registered bidders including a group of Chinese investors and company looking for employee retreats and individual real estate investors.

MULTI-FAMILY

Plano, TX: (CONSTRUCTION) Gaedeke Group is beginning construction on a 14-story, 327,856 SF building located at the SEC of SH 121 & Legacy Drive in Legacy West across from Toyota’s new HQ. Gaedke plans to building two office buildings at this location. located at 1111 Freeport Parkway to the 1031-exchange buyer, California-based Coliseum Storage Associates LLC. Marcus & Millchap represented both the buyer and the seller.

Plano, TX: (CONSTRUCTION) Stream Realty Partners is proposing to build a 12-story, 271,000 SF, office and retail tower called Platinum Tower at Tennyson Rarkway and the Dallas North Tollway. It is east of their five-story, 166,000 SF office building which will be completed at the end of the year.

Richardson, TX: (LEASE) Software provide RealPage Inc is moving from Carrollton and has leased the four-story, 400,ooo SF building located at 2201 Lakeside Blvd in the Telecom Corridor.

RETAIL

Arlington, TX: (SALE) HighStreet Net Lease Group, a Houston-based company, represented two private group in the acquisition of netleased properties in Arlington and Texas City. Matt Moake with HighStreet represented the buyer in both transactions. The properties included the Nebraska Book Company at 2135 Southeast Parkway in Arlington, represented by Jason Vitorino of Marcus & Millichap and a Jiffy Lube at 3314 Palmer Highway in Texas City, represented by Kevin Goldthwaite with Colliers International.

Fort Worth, TX: (CONSTRUCTION) Victory Real Estate Group has secured 22 acres at the NWC I-35W & Heritage Trace Parkway near Alliance Town Center for the construction of 100,000 SF of big-box, junior-box, small shop and medical retailers as well as pad sites. The project should be completed by year end.

Coppell, TX: (SALE) Balfour Beatty Communities purchased the 398-unit ,Townlake of Coppell, located at 215 N. Moore Road.

OFFICE Carrollton, TX: (SALE) Variosystems Inc purchased a new global headquarters at 1628 Valwood Parkway. The single-story building was formerly a call center and has 14,550 SF. Ricmond Collinsworth of Bradford Commercial Real Estate represented the buyer and George Tanghongs of Lee & Associates represented the seller, Global Harvest Church.

Garland, TX: (SALE) An out-of-state-buyer purchased Firewheel Plaza, 1 20,421 SF center located near SH 78 & the George Bush Turnpike adjacent to Firewheel Town Center. Quine & Associates represented the buyer and Kevin Catalani of REATA Investment Sales represented the seller.

Midland, TX: (SALE) Western Park Plaza, located at 1012-1028 Andrews Highway was sold to an undisclosed buyer. Both seller and buyer were represented by Philip Levy of Marcus & Millichap.

HOTEL Dallas, TX: (CONSTRUCTION) A 327,132 SF, four-story office building is being constructed at the Offices of Cypress Waters for California-based CoreLogic. The building is located at tne NWC of Hackberry Road and Ranch Trail and will serve as CoreLogic’s local operations.

Irving, TX: (CONSTRUCTION) Woolley’s Classic Suites will build a 250-room, full service hotel in Avion Business Park located at SH 114 & Royal Lane between Esters Blvd & Freeport Parkway. This is Woolley’s second US location.

For more deals go to: www.REDNews.com/category/deals-and-announcements/

REDNews.com | 31

REDNews

ANNOUNCEMENTS Southeast Texas Houston Area

Corby Chaffin

Corby Chaffin, has been hired as a VP and Tucker Knight has been hired as a Sr. VP and branch manager for Berkadia,

Matt Trozzo Matt Trozzo joined CBRE as Senior VP, specializing in office tenant representation. He was previously with Cushman Wakefield.

Neal King

Neal King has joined The J. Beard Real Estate Company as an associate providing leasing, acquisitions and disposition services.

Graham Horton Graham Horton joined CBRE as Sr. VP, specializing in office tenant representation.

INDUSTRIAL Houston, TX: (LEASE) Gobiidirect, Inc. leased 14,350 SF at 4647 Pine Timbers from GLP. Ed Bank and Jon Michael with NAI Partner represented the landlord and Steven O’Conor of Stream Realty Partners represented the tenant. Houston, TX: (SALE) Denver-based real estate investment manager Amstar sold the new 352,680 SF Beltway North Commerce Center located at 971 N. Sam Houston Parkway East. The seller was represented by CBRE.

Pearland, TX: (CONSTRUCTION) Shale-Inland Holdings LLC will build its new regional facility at the NWC of SH 35 & Bailey Road. The office, distribution and warehouse facility will include 210,000 SF on 40 acres.

Houston, TX: (SALE) Hartman 400 North Belt, a subsidiary of Hartman Short Term Income Properties XX, Inc purchased 400 North Belt located at the SEC of Sam Houston Parkway/Beltway 8 at Imperial Valley Drive. The building has 230,872 SF.

Stafford, TX: (SALE) United Way of Greater Houston has purchased a79,000 SF building located at 12300 Parc Crest Drive. The property is located off Murphy Road (FM 1092) and West Airport Boulevard. The out-of-state- seller was represented by Lang Motes, Tawnya Dornak and Jane Nodskov with ICO Commercial. Jeff Lindenberger with Avison Young represented the buyer.

RETAIL Stafford, TX: (LEASE) Clay Development & Construction leased 15,000 SF to Lisega in the Stafford Business Park located at 13310 Pike Road. John Ferruzzo and Darren O’Conor with NAI Partners represented the landlord and Rayan Wasaff with Welcome Group represented the tenant.

Pasadena, TX: (CONSTRUCTION) Construction is underway for Phase I of the Market at Crenshaw, a 168,924 SF, two-phase development on Beltway 8 between Crenshaw Road and Fairmont Parkway. Ley-Watson Development LLC and H5 Ventures are the developers. Phase I is slated for delivery third quarter 2015. Phase II is scheduled for completion second quarter 2016.

MIXED-USE Houston, TX: (CONSTRUCTION) The Midtown Redevelopment Authority and Camden Properties have broken ground on a mixed use project at 2811 Travis. It is situated on six acres and will include a public park, retail space, a 300-unit apartment complex and an $18 million public parking garage.

Houston, TX: (CONSTRUCTION) South Carolinabased Third Palm Capital is launching Republic Square, a $1 billion mixed-use development on 35 acres in the Energy Corridor south of I10 and west of N. Eldridge Parkway. The project will include 2.6 million SF of office space, 100 SF of retail/restaurant space, two hotels and 800 multifamily residential units.

Magnolia, TX: (SALE) The J. Beard Real Estate Company arranged the acquisition of an 11 acre development tract at the NEC of Research Forest Drive and Egypt Lane. The land was purchased by Egypt Land Developments, an affiliate of local real estate firm Everson Developments, for mixed use retail, medical and commercial development.

MULTI-FAMILY

Houston,TX: (CONSTRUCTION) Houstonbased multifamily developer, MORGAN, will build a new Pearl luxury apartment project at 3100 Smith street. The project will be seven stories atop a Whole Foods Market and will consist of 320 units. It is across the street from the existing Pearl Midtown Complex. Construction is to commence first quarter 2016.

Porter, TX: (CONSTRUCTION) The Signorelli Company has broken ground on Valley Ranch Town Center, a 240-acre, 1.8 million SF retail district located within the master-planned community of Valley Ranch.

Rosenberg, TX: (CONSTRUCTION) The city of Rosenberg and the Rosenberg Development hasve finalized an agreement with Baltimore-based Paragon Outlet Partners to build an outlet mall near the intersection of I69 & Read Road. The project could include more than 400,000 SF and is scheduled to open November 2016.

Spring, TX: (CONSTRUCTION) Dallas-based Regency Centers will begin construction of a grocery-anchored, 300,000 SF Market at Springwoods Village at the NEC of Spring Stuebner Road & Holzwarth Road early next year. Springwood Village is home to Exxon’s corporate campus.

COLLEGE/MEDICAL

Houston, TX: (CONSTRUCTION) San Jacinto College will build a new campus on 57 acres in Generation Park. The campus will be located across Lockwood Road. The developer McCord Developed donated 3.8 acres at the intersection of West Lake Houston Parkway & Lockwood to the college.

Houston, TX: (CONSTRUCTION) Houston-based developer Allied Orion Group LLC is building a 281-unit apartment complex at 10301 Buffalo Speedway just outside of the 610 Loop. The developer also plan to begin construction in the fourth quarter of an eight-story, 242-unit project bounded by San Jacinto, Caroline, St. Joseph and Jefferson.

Houston, TX: (CONSTRUCTION) The Texas Medical Center has a conceptual plan to develop a nearly 30-acre campus with a large retail component, hotel, and conference center and lab/medical space. The area is now a parking lot near MD Anderson Center. The board is set to approve the plans this summer and the work could take four to five years.

Houston, TX: (SALE) Panther FW Investments, a private real estate investment company, purcahed the 671-unit Morgan West Oaks apartments from Morgan Management. The project is located at 2400 Briarwest Blvd.

Spring, TX: (CONSTRUCTION) Woodbine Development Corp and InterMountain Mgmt purchased nearly three acres in Springwoods Village from CDC Houston for the construction of a Courtyard by Marriott hotel. The property is located on Holzwarth Road and is scheduled to open in the second quarter of 2016.

HOTEL

Houston, TX: (LEASE) Total Renal Care Inc leased 12,937 SF in Brookhollow I. Win Haggard Jr, Brad Beasley and Tripp Pruet of Colvill Office Properties represented the landlord and Louis Carpenter of Johnson Controls Real Estate represented the tenant.

32 | REDNews.com

RETRACTION: We erroneously printed in our June issue of REDNews that NW Mall had been sold. Our apology for this error.

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