REDNews July 2014 - North Texas

July 2014

In this issue: Texas Rural Land Markets The Dirt on Houston’s Dirt

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

Loan Documents: Sweat The Small Stuff Share Your Commercial Real Estate Nightmare

Wells

WELLS ASSET MANAGEMENT PERFECTED PERFORMANCE

ӹӹ PROPERTY MANAGEMENT & BROKERAGE ӹӹ MULTIFAMILY AND COMMERCIAL FINANCING ӹӹ CONSTRUCTION RENOVATIONS ӹӹ ASSET MANAGEMENT

Over $1,000,000,000 In Brokered & Financed Investment Real Estate www.wellsasset.com

+ Water Front Acres 10 Prime Investment and Development Potential (Additional 5.8+/- acres available on Broadway contiguous to Bay Forest Golf Course) Bay Forest Golf Course 3.7+/-

2.1+/-

Additional Acreage

Additional Acreage B ro a d wa y S t re e t

10 +/Traffic, Bicycling, Terrain, Directions

Acres

La Porte “Rare Coin” on Galveston Bay • 25 Miles +/- to Downtown Houston CBD. 30 +/- minute commute.

• Easy access to Highway 146 (Grand Parkway).

• 400’+/- Waterfront view of Galveston Bay. • Views of cruise and cargo ships, shrimp boats, etc.

• Across the street from an eighteen hole championship golf course (Bay Forest Golf Course).

• Asking Price: $6M (10+/- acres), $1M (5.8+/- acres).

®

For Additional Information Please Call

Steve Baumgardner

(Office) 713-561-6693 • (Cell) 713-294-3408 steve@johndaugherty.com www.johndaugherty.com/stevebaumgardner

±987 ACRES

Lake Jackson, TX 288 TEXAS

Infrastructure: • In Alden Lake Municipal Management District • Tax Investment Reinvestment (TIRZ) terms are being negotiated with City and County • City of Lake Jackson is constructing water and sewage connections to the site at no cost to developer

SITE

FM 2004

FM 332

The Wilderness Golf Course Chevron Phillips Expansion Old Ocean City • 10,000 engineering and construction jobs • 400 permanent jobs

Brazos Mall

Lake Jackson

New Superstore

Dow New R&D Center • 2,000 employees • 900,000 feet of office being developed by CORE

Phillips 66 New Plant Sweeny • 50 full-time jobs • +1,000 construction jobs

Tenaris Steel Plant Bay City • 600 permanent jobs

BASF New Plant • 20 permanent jobs • 200 construction jobs

Dow

Dow’s Chemical Expansion • 400-500 new permanent jobs • 3,000-4,000 construction jobs

Freeport LNG Export Facility • 160 permanent jobs • 3,500 construction jobs Phillips 66 Terminal • 50 full-time jobs • +1,000 construction jobs

Source: Information on this page was obtained through the Houston Business Journal, March 21-27, 2014 edition

To discuss how we can assist you in your real estate needs, please contact: Bill McDade

+1 713 577 1876 bill.mcdade@cbre.com

Peter Mainguy

+1 713 577 1782 peter.mainguy@cbre.com

Kristen McDade

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

Nolan Mainguy

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

cbre.com/houston

Table of Contents

Loan Documents: Sweat the Small Stuff Texas Rural Land Markets

12, 14, 16

Hang On - The Ride Is Just Getting Started

18

The Dirt on Houston’s Dirt

20, 22

Commercial BUZZ

26, 28

Last Page: My First Last Page

Properties For Sale/Lease

42

1-3, 5, 7-9, 13, 15, 17, 19, 21, 25, 27, 29, 41, 43

Commercial Services Commercial Builders & Designers

29

Environmental

30

Legal Services

41

Moving & Relocation

41

Property Leasing & Management

23

Website Development

44

What’s Happening in Texas CRE Calendar of Events

32, 34, 36

Networking Photos

33, 35, 37

Deals & Announcements

4 REDNews.com

10 – 11

38 - 40

Over $1 Billion in Brokered, Financed & Receivership Property Transactions BROKERED

FINANCED

Mountain Ridge 236 units - Dallas, TX

Brook Hollow Apartments 160 units - De Soto, TX

Office Building

Rosegate Townhomes 72 units - Garland, TX

Fox Hollow Apartments 117 units - Dallas, TX

Westwind Apartments 140 units - Irving, TX

Saddle Creek Apartments 150 units - White Settlement, TX Off Market Transaction

Fairmont Apartments 274 units - Abilene, TX

Court Ordered Bankruptcy Sale

Pine Meadows 224 units - Abilene, TX

Court Ordered Bankruptcy Sale

Lakeside at 121 240 units - Lewisville, TX

McCallum Corners 55 units - Dallas, TX

Hulen Gardens 200 units - Fort Worth, TX

Newport Apartments 308 units - Irving, TX

Villas of Calloway 224 units - Hurst, TX

Center Place 100 units - Arlington, TX

Bankruptcy Sale

Mack Park Apartments 226 units Denton, TX

Refinance Fannie Mae $9,800,000

Rosegate Townhomes 72 units - Garland, TX Bankruptcy Sale

Mountain Ridge 236 units - Dallas, TX

College Park Apartments 168 units Weatherford, TX

Fannie Mae Acquistion loan $9,478,000

$7M Fannie Mae Refinance with Cash Out

McFarlin Apartments

Corinth Commons Retail Refinance Loan $2,900,000

Fannie Mae Cash Out $2,100,000

RECEIVERSHIP PROPERTY TRANSACTIONS Spanish Village Apartments Chivas Square Apartments 200 units – Irving, TX 146 units – Fort Worth, TX

The Courtyards on Mustang 228 units – Grapevine, TX

Landmark Apartments 242 units – Dallas, TX

PROPERTIES AVAILABLE FOR SALE - Kingswood Apartments

Denton, Texas 200 Units - Built in 1985 • $10,000,000 Cash

FOR LEASE - Medical/Office Space

3900 American Drive Plano, TX 75075 • 2 Suites Available from 1,074-3,650 SF - Suite 105 - 1,074 SF - Suite 203 - 2,000 3,650 SF

FOR SALE - Wyndham on the Creek Dallas, Texas 151 Units - Built in 1985 • $5,900,000 Cash

• On Campus Medical Center of Plano

Wells

WELLS ASSET MANAGEMENT PERFECTED PERFORMANCE

Mike Wells, CCIM, CPM (972) 458-2588 , ext. 104 mike@wellsasset.com

Robert Aiello, CMB

(972) 458-2588 , ext. 103 robert@wellsasset.com

PROPERTY MANAGEMENT & BROKERAGE • MULTIFAMILY AND COMMERCIAL FINANCING • CONSTRUCTION RENOVATIONS • ASSET MANAGEMENT

PUBLISHER

Ginger Wheless

Publisher’s Letter

ginger@rednews.com

EDITOR Marjorie Gohmert info@rednews.com ASSISTANT EDITOR Carol Swiantek

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

STAFF WRITER Janis Arnold CONTRIBUTING WRITERS Ray Hankamer rhankamer@gmail.com Brad Porter brad@porterpowers.com Jim Wilkie jimwilkie@swbell.net San Antonio - Kim Gatley MANAGING DIRECTOR Chris King chris@rednews.com ART DIRECTOR Connie Marmolejo - connie@rednews.com MARKETING MANAGER Amanda Simonian amanda@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com

Dear Readers, It is HOT outside! And so is the real estate market.

Wait a minute, where is Ginger Wheless?

(Actually, she’s standing over my shoulder as I type but you didn’t hear that from me.)

SALES Chris King chris@rednews.com Amanda Simonian amanda@rednews.com Ginger Wheless ginger@rednews.com

Print & Digital Distribution

REDNews is directly mailed each month to commercial real estate brokers, investors & developers in the following cities /areas as well as 200+ locations throughout Texas: 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 Content My name is Christopher King. I am the Managing Director of REDNews and will To subscribe to REDNews call 713.661.6300 be taking over the Publisher’s Letter so Ginger can keep both hands on the wheel as or log on to www.REDNews.com/free 5959 West Loop South, Suite 135 we speed full-steam ahead. If you’ve been to www.rednews.com you can see some of the changes I’ve put in place since I started earlier this year. Our digital marketing reach has greatly expanded to include custom built websites, advertiser portal pages, enhanced property listings and mobile responsiveness. Behind the scenes we’ve begun launching much more comprehensive analytic reporting. Our advertisers now receive detailed information on how their marketing is performing enabling us to target their advertising for a greater return.

This month’s issue is about land, something for which we Texans are well known. Just look to the King Ranch for a good example.

We feature an interesting take on shale plays, what they bring to the future of Texas and the world, by Detlef Hallerman. Charles Gilliand and a group of speakers from Texas A&M discuss the 2014 Texas Rural Land Markets. And, Brad Porter from the law firm of Porter & Powers joins us with a new legal column. If you have legal questions you’d like to have answered in REDNews drop us an email. We’ll review your question with the experts and it might get published.

Taking over our Last Page feature is Amanda Simonian. We won’t bother to introduce her any further here as she does such a good job in her first Last Page. Turn to the last page right now and read it. We’ll wait right here….Amanda is a smart marketer and fun to work with on a project. We know you will appreciate her business savvy and insightful writing.

Don’t forget to check out Ray’s CRE Nightmare article. It’s hair-raising! If you have your own real estate horror tale, share it with us.

Everyone loves a scary story.

REDNews would like to wish you, your team and your family a firecracker of an Independence Day!

Christopher King 6 REDNews.com

Personalized Service. Proven Results.

www.tarantino.com

FOR SALE, FOR LEASE | 8313 Southwest Freeway

Up to 25K Open Concept Space Ideal For School/Engineering Firms

Visit the new Center website for all the amenities, photos and floor plans! www.thecenterbuildings.com

Kris Lilly| klilly@tarantino.com | 713-772-6633

256 N. Sam Houston Pkwy

Airport Office Building | For Sale or Lease

256 N. Sam Houston Pkwy, Houston, TX

8031 Airport Boulevard, Houston, TX

• 1,200 – 18,000 SF Available

• • • •

• Located just 15 Minutes from IAH • Building Signage Available • Gernerous Building Allowance • Competitive Rates & Terms

Eric Ohlson | eohlson@tarantino.com

Excellent Owner/User Purchase Opportunity Full Floor Available Across From Hobby Airport Great Location – Perfect Combination of Local Access and Global Reach • Building Identity Available

Peggy Rougeou | peggy@tarantino.com

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

San Antonio Office:

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

Bingle Village Shopping Center

2305-2339 Bingle Road Houston, TX 77055 • 3,263 – 8,976 SF Retail Space Available • Pylon Signage Available • Extensive Parking • Landlord will Build to Suit for Credit Tenant

Eric Dr ymalla | edr ymalla@tarantino.com

De Zavala

Austin Office:

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

Angleton Four Corners Shopping Center

1804 N Velasco Street Angleton, TX 77515 • • • • •

2,137 – 14,234 SF Retail Space Available Center is Located Across the Street From Wal-Mart Pylon Signage Available Traffic Count Exceeds 13,000 Cars Per Day Retail Center Remodeled in 2014

Peggy Rougeou | peggy@tarantino.com

Edgebrook Shopping Center

12770 Cimarron Path San Antonio, TX 78249

10500 Gulf Freeway Houston, TX 77034

• 3,000 – 10,000 SF, Flex Office & Biomedical Space Available

• Big Box- 24,343 SF Now Available

• Climate Controlled Warehouse • Generous Tenant Finish-Out Allowance • Northwest Location with Easy Access to I-10 & 1604

Coni Jenkins| cjenkins@tarantino.com

• Located on Hard Corner of Gulf Freeway & Edgebrook • Pylon Signage Available • Traffic Count Exceeds 222,000 Cars Per Day

Eric Dr ymalla | edr ymalla@tarantino.com Peggy Rougeou | peggy@tarantino.com

CRE

LEGAL UPDATE

BRAD PORTER Partner

Porter & Powers

Loan Documents: Sweat the Small Stuff In a continuing effort to bring great resources to our readers, REDNews would like to introduce Brad Porter from the law firm of Porter & Powers. Brad has been kind enough to launch a column with us on the subtleties and not so subtle ramifications of commercial real estate law in Texas.

As an attorney specializing in commercial real estate matters, I routinely interact with lenders.

My interaction with the lender is congenial if, among other reasons, both sides are working to enter into a lending relationship that they believe is going to be mutually beneficial. If the relationship between my client and the lender is suffering (usually as a result of a current or even anticipated default of a loan), that interaction with the lender becomes much more adversarial.

All lending relationships begin with the loan documents. If the relationship with the lender is positive, and if there is competition among lenders to do deals and attract qualified borrowers (as there is now), do not underestimate your ability to dictate, not only the “business” loan terms (e.g. interest rate, amount of the down payment, amortization period, etc.), but also the “fine print lawyer stuff”. Take advantage of this current market and aggressively negotiate the fine points of the loan documents. It will pay off, or quite literally, save your personal net worth if things change - as they are wont to do.

Some quick-hit suggestions: Notice and Opportunity to Cure “Events of Default” Loan documents contain monetary and nonmonetary “Events of Default” provisions. A monetary provision involves the failure to make some payment of money. A non-monetary provision might involve the failure to comply with a specific covenant or non-monetary requirement. When a borrower commits an

10 REDNews.com

“Event of Default,” the lender can then pursue remedies as outlined in the loan documents – most notably, seeking to foreclose on the property. So, the longer a borrower has to remedy an issue before it becomes an “Event of Default”, the better. Prior to an “Event of Default” occurring, borrowers should seek to require the lender to provide written notice and: (1) at least a ten day opportunity to cure monetary “Events of Default”; and (2) at least a thirty day opportunity to cure non-monetary “Events of Default.”

Retain Right to Seek Appraisal when Lender Seeks Deficiency Judgment A deficiency occurs when a foreclosure sale does not render sufficient funds to cover the debt. In a recourse loan, lenders can seek to recover that deficiency from both the corporate borrower and any individual guarantor(s). If the lender sues to collect on that deficiency, Texas law grants borrowers and guarantors the right to request that the court determine the fair market value of the property as of the date of the foreclosure sale.

The fair market value is determined by having the borrowers and guarantors introduce competing evidence of that property value – typically, an

Fundamentals •B orrowers should retain the “Right to Seek Appraisal”.

•B orrowers should not agree to arbitrations to resolve disputes between the parties.

•B orrowers should not agree to a “Preferred Venue” in a distant location

Prior to an “Event of Default” occurring, borrowers should seek to require the lender to provide written notice and: (1) at least a ten day opportunity to cure monetary “Events of Default”; and (2) at least a thirty day opportunity to cure non-monetary “Events of Default.” appraisal. If the court (or the jury) agrees with the appraisal submitted by the borrowers and guarantors, then the deficiency may be reduced or altogether covered – in which case the borrower/guarantor owes nothing more to the lender. Not surprisingly, lenders want borrowers and guarantors to waive their “Right to Seek an Appraisal” or “waive any rights under Section 51.003 of the Texas Property Code”. I strongly suggest that you do everything possible to retain the “Right to Seek Appraisal” in your loan documents. When I am trying to defend my clients against a deficiency judgment, if they waived their rights under the Texas Property Code to obtain an appraisal, the defense options become very limited. In fact, the lender can usually obtain the deficiency judgment against both the borrower and the guarantor in an expedited fashion.

Requiring Arbitration and Waiving Jury Trials Borrowers should not agree to arbitrations to resolve disputes between the parties.

Borrowers should do their best not to agree to waive their right to a trial by jury. Arbitrations do not benefit borrowers for several reasons. Firstly, impartial arbitrators make decisions based solely on the content of the loan documents and do not take other factors into consideration. In contrast, a jury is more likely to consider whether a borrower has been unfairly treated when making a decision. Also, juries are composed of more people, so there is room for dialogue when making decisions – as opposed to having one or three arbitrators bound by the terms of the loan document.

Moreover, arbitration fees are much more expensive than court fees. Finally, borrowers should also be aware that in a binding arbitration, the parties are bound by the decision. An award in arbitration cannot be challenged simply because the borrower disagrees with it. The borrower can only challenge an award on very limited grounds. On the other hand, if a borrower disagrees with the jury’s or judge’s (if the borrower was required to waive the right to a jury trial) decision, the borrower can always appeal the decision in an appellate court.

Adding that extra time, expense, and uncertainty to the equation makes lenders want to work with the borrower.

Venue to Resolve Disputes Needs to be Where the Property is Located Many times lenders will seek to require a dispute between the parties be resolved far away from where the actual property is – typically, where the main branch of the bank is located. When borrowers agree to a “Preferred Venue” in a distant location, they will assume some significant additional costs Interest at and headaches in the event of a dispute – (1) the rate of eight per they will have to hire local attorneys who will centum per annum! A bargain. be the experts on the local law and who are licensed to practice law in the state of the Texian Loan Certificate, 1836 | East Texas Research Center Document, commonly referred to as a Texian Loan Certificate, by which the government attempted to raise money for the Texas Revolution. Signed by “Preferred Venue”; (2) they will have to pay for expenses associated with travel; and (3) Stephen F. Austin, B. T. Archer, and William H. Wharton. do not underestimate the inconvenience of Original and photocopy of a Texian Loan Certificate. The certificate is made out to Alfred Penn for the amount of having to travel, and having to coordinate 326 dollars and signed by Stephen F. Austin, B.T. Archer, and Whilliam H. Wharton, dated January 11, 1836. the travel of witnesses, out of state. I frequently see these “Preferred Venue” provisions requiring the dispute to be decided in rural areas of Texas or other designation reserved for the state’s top lawyers under the age of 40. states. When that occurs, it is going to be difficult for an outsider to get a fair Porter & Powers are engaged in a full range of real estate matters from shake against the community’s big fish. Disputes should be decided in the complex, multi-jurisdictional commercial transactions involving the sale, county where the property is located. purchase, exchange, leasing, financing and/or development of commercial I have plenty more, but I have no more space! For further inquiry, call me properties such as office buildings, apartment complexes, shopping centers, industrial and warehouse properties, and condominiums to more consumerdirectly at 713.533.1499 or email me at brad@porterpowers.com. oriented matters such as purchases, sales and leasing of private homes, farms Brad Porter is Board Certified in Commercial Real Estate Law by the Texas and ranches, and owner-occupied small business locations.

Board of Legal Specialization. He has represented and advised individual, corporate and institutional owners and developers of commercial real estate REDNews would like to thank Brad for his insight. If you have questions at the local, national and international levels. Brad was selected by his peers you would like to see addressed in future columns let Brad know or email for inclusion in the Texas Super Lawyers Rising Stars in both 2012 and 2013, a info@rednews.com and we will consider them for inclusion.

R E D N e w s . c o m 11

Texas Rural Land Markets in 2014 Overview of Charles Gilliland’s Presentation at Texas A&M Outlook for Texas Land Conference

by Janis Arnold REDNews

Charles E. Gilliland is a Research Economist with the Real Estate Center and is a Clinical Professor of Finance in the Mays Business School at Texas A&M University.

Current conditions: Charles Gilliland

• Texas Median Home Prices provided some pretty good news in 2013. As is always the case, housing has led Texas out of a recession. It appears likely that in 2014 the general economy will lean more heavily on housing.

A decent irrigated farm is never sold; i.e., people are not turning loose of water.

• Clouds on horizon: credit is still tight; institutional investments last year accounted for much of the activity in houses; unsustainable price increases; many sales have been cash sales, suggesting that this is not a typical home market, and we face firsttime buyer challenges.

• Attitudes toward homeownership are still positive.

Texas Land Market Regions (information provided by region’s representatives and Dr. Gilliland)

ing water. Large properties start at 8,000 acres; 500-8,000 acres is considered small, and prices on both went up.

Region 1: Panhandle and South Plains

Region 3: North Texas, Central Texas, South Central Texas

B.L. Jones III (captain): In the high plains area, we need water! Land is being purchased for the water potential under it, and the price is up slightly. Lubbock and Amarillo are doing fairly well with regard to water. A decent irrigated farm is never sold; i.e., people are not turning loose of water. One city bought a ranch for the well on it; Odessa is buying water from Ward County in the face of the continuing drought. There isn’t an economic ranch in the region right now. The big land sales in the current report are range land. The 160 to 640 size tracts are farms.

Referencing the sale of land that is 160 acres and smaller, prices are up strongly. Large properties just held their own during 2013. 80% were large property sales. This is the only region that didn’t have an overall increase in land prices.

Region 4: North Texas, North East Texas, Piney Woods North & South Both small and large properties saw substantial increases in price in 2013; small market (34-53 acres) has been appreciating much faster than the larger properties.

• Food Price and Consumer Confidence Indexes look good, but a problem lurks in the Federal Reserve Balance Sheet Assets. There are multiple questions in economists’ minds about what is going to happen when the quantitative easing that began in 2008 comes to an end.

• Land prices are basically a summary of what is going on in our economy; while there is a temptation to paint all land markets with the same brush, this will likely prove to be overly simplistic.

12 REDNews.com

Victor Probandt (captain) In San Angelo, we have seen a large increase in sales of small tracts, but the prices are not up significantly despite the fact that lots of people are buying. This region is on the edge of shale, and many of the oil-related workers are buying small places to the west of the Eagle Ford. Oil companies have tired of fighting surface owners and some are buying large ranches. Listing prices have come down, and larger ranch sales are softening a bit, but we still see increasing land values. Fracking takes a significant amount of water; the oil company can dispose of the water by building holding tanks and letting it evaporate.

However, all of the water trucks that you’re hearing about are wastewater hauling trucks. Companies are also building saltwater injection wells through utilization of depleted oil wells. The disposal rates that will come to the landowner from these injection wells are almost as good as the oil production rates for the surface owner.

Region 6: Coastal Plains, Upper to Mid Brush Country, Lower Brush Country, Coastal Bend, Rio Grande Valley

Region 2: Far West Texas, Big Bend, Trans-Pecos

Karl Armstead

Karl Armstead (captain) In Ft. Stockton, prices are increasing for cultivatable farm land; prices for water have been pretty high; drilling companies are now buying old farms with wells that they can use for frack-

Merril Swanson

Merrill Swanson (captain): In South Texas the Eagle Ford impact continues to be seen. From San Antonio to Laredo hotels are going up and Cotulla has a sky line now. The Eagle Ford is having the largest economic impact that we’ve seen in our lifetime.

The land market is back to 2006 levels. Medina County continued on page 14

15.62 ACRES Ready For Retail, Office, Multifamily/Senior Housing or Industrial Development

Grand Parkway (Proposed)

Tracts 1 & 2 Tract 1

• 1,136 FF on Kuykendahl Road | 5.69 Acres

Tract 2

• 529 FF on Kuykendahl Road | 9.92 Acres

R. S. Hart

Commercial Brokerage, L.L.P.

Rachel S. Grant

7887 San Felipe Suite 122, Houston, TX 77063 Phone: 713-789-3133 Cell: 281-686-2993 RachelGrant@RSHart.com

• Great visibility on heavily traveled Kuykendahl Road • Located in dense residential area just west of I-45 • +/- 400’ Northwest of Ella Boulevard, Houston, Texas • Zoning: None • Utilities: HC MUD #399 • Key Map: 372B Asking Price: A: $5.50 PSF; B: $5.50 PSF

Brokers Welcome

continued from page 12

is particularly hot at the present time. Atascosa County is good. The buyers are energy buyers today; farmland has reached a plateau; commodity prices are down; cattle is good; some movement is seen in large ranches. In the Laredo area, properties in the 5 to 15 thousand acre range are generally being purchased by assemblage-type energy buyers.

market regions Region 1

Region 2

Region 3

Region 4

Region 5

Region 6

Region 7

Region 5 Eastern Coastal Prairie, SE Piney Woods, SW Piney Woods, Brazos Bottom, Houston area, Central Coastal Prairie, North Coastal Prairie, Bellville & Brenham Areas Wayne Young (Captain): This area is doing well.

Timber has slowed down, but in Jasper and Newton there is still demand for big timber tracts.

Some of the little guys are selling their tracts to recreational users. In the Beaumont area, the new farm bill is having an impact. “If you’re going to make some money you’re going to have to farm!” We see the Energy Corridor from Houston to Huntsville creating growth. The Exxon campus going in at the Woodlands is projected to bring 10-11 thousand people into that area. “They all want a place in the country, and they’re highly paid employees. “$4000 is a cheap bicycle for those folks!” In West Houston, crop land is still strong. The Katy residential market continues to heat up. (Cinco Ranch etc.) and other master-planned communities are examples of the development this region of the state is seeing. Some of the land sales we’re seeing in the Brenham and Bellville areas are high dollar sales that are shocking.

Region 7: Southern Grand Prairie, Central Basinm Central Blacklands, Grand Prairie, North Central Post Oaks, East Edwards Plateau, Central Blacklands, Southern Post Oaks, Eastern Hill Country, Western Hill Country including cities of Austin and Kerrville Wendell Wood (Captain) This area is fairly diverse, and has seen some cropland sales, but there are few on the market now. In the recreational and hill country portion of the region, sales are stronger, and prices are steady. There has been a slight upward bias in market, and tracts with live waWendell Wood ter command stronger prices. Residential is active in the Austin area, and land for development that is near utilities sees a strong demand. This area is seeing the same kind of pattern that other parts of the state are seeing: small

16 property prices are pulling away from prices being obtained for larger ones. Both are trending up and 50-94 acres is considered small in this region.

Summary 2013 Developments in Land Markets: Dr. Gilliland Texas land market developments in 2013 saw overall prices rise nearly 10 percent over 2012 prices with the statewide size adjusted price settling at $2,160 per acre. That robust price increase reflected markets focused on small property sales with strong price pressure on quality properties. Small property prices increased more than 19 percent

across the board. Further, individual observers reported a thaw in previously frozen markets with several locations reporting multiple sales of larger properties for the first time in several years. Taken together the experience in these separate ends of the land market indicate a remarkable strengthening in rural land prices throughout Texas.

Perhaps bucking that trend, the Panhandle and South Plains regional price indicator for large properties barely changed falling about 0.4 from 2012 levels. However, that lackluster performance comes after a 46 percent increase in prices since 2010. The slowdown in price coincides with aneccontinued on page 16

14 REDNews.com

Building & Land For Sale | 23.36 Acres

713.690.0000 CaldwellCos.com

Beltway 8 & West Rd Building & Land For Sale | 23.36 Acres

Beltway 8 & West Road

FEATURES • Approximately 1,400 Feet of Beltway Frontage • Secondary Access From West Road • Great Beltway Visibility • Approximately 25,500 Square Feet Multi-Purpose Building • Area Businesses: Enterprise Products, in a 175,000 SF Class “A” Office and Kroger, LA Fitness, Bank of America, Walgreens • Area Restaurants Include: Whataburger, Taco Cabana, Sonic, Wendy’s, KFC, Taco Bell, Chick-Fil-A, McDonalds

$12.00 PSF or $12,210,739

For Sale ■ 23.36 Acres ■ Ideal Use: Office, Industrial, Multi-Family or Retail Land for Sale | 2 Tracts Totaling 8.65 Acres FEATURES • Located at FM 1960 and Fallbrook with frontage access from Fallbrook, EATURES Key Map: 410E FM 1960, Hammond and Glenoria ■ Approximately 1,400 Feet of Beltway Frontage Demographics • Well-positioned in the high growth ■ Secondary Access From West Road northwest market 3 Mile Radius ■ Great Beltway Visibility Population: 85,060 ■ Approximately 25,500 Square Feet Multi Purpose Building • Adjacent to CVS on the hard corner Average HH Income: $83,092 ■ Area Businesses: Enterprise Products in a 175,000 SF Class “A” Office. and surrounded by medical users

FM 1960 & Fallbrook Road

Kroger, LA Fitness, Bank of America, Walgreens ■ Area Restaurants Include: Whataburger, Taco Cabana, Sonic, Wendy’s, KFC, Taco Bell, Chick-Fil-A, McDonalds.

5 Mile Radius • Cross access provided Population: 235,279 • Utilities Average HH Income: $77,977to site

• TRAFFIC COUNTS:

Taxes Cy-Fair ISD Lone Star College Harris County Total Taxes:

$1.45 $0.12 $0.69 $2.26

$12.00

-FM 1960 N of Fallbrook - 53,236 cpd -FM 1960 S of Fallbrook - 57,963 cpd -Fallbrook E of FM 1960 - 11,731 cpd -Fallbrook W of FM 1960 - 9,239 cpd

PSF or $12,210,739

Tract 1 $8.00 PSF Tract 2 $3.50 PSF

The information contained herein is believed to be correct. However, no warranty or representation is made. All prices are subject to change without notice and property is subject to prior lease, sale or withdrawal from the market without notice.

For more information, contact Keith P. Grothaus, CCIM, SIOR

more information, contact Office: 281.664.6635

P. Grothaus,Email: SIOR, KGrothaus@CaldwellCos.com CCIM 64.6635 | KGrothaus@CaldwellCos.com

continued from page 14

dotal reports from market participants indicating farmers and investors may have begun to reevaluate future income amid retreating corn prices and prolonged drought. Increasingly bearish forecasts from USDA suggest that farm income for the foreseeable future will likely fall short of current levels. All of these clouds on the horizon conspired to slow market price appreciation in this region.

At the first of the year, many observers forecast robust economic performance ahead for 2014. Despite some recent troubling developments (disappointing retail sales, a drop in pending home closings), the consensus sees 2014 as a prosperous year.

Two potentially troubling situations could threaten this optimistic outlook. The drought strangling much of the nation continues to plague some areas. Much of Texas remains abnormally dry. Lack of moisture could hamper markets. In addition, the lofty levels of cropland prices appear in many minds to have begun a possibly prolonged retreat. Although cropland prices remain strong by historical standards, many have noticed the Midwest land auctions failing to generate bids exceeding the reserve prices and look for continueing challenges ahead. Ironically, cropland markets may be slowing just as other market segments appear to be poised to move up.

Key Quotes from Dr. Gilliland

• Trying to look ahead can be a dangerous activity. Some are wondering if we are seeing a bubble: Buyers have to ask themselves ‘If I pay this much for the land what has to happen to make the property a good investment for the future? If income has to go up, and interest has to stay low, how likely does the buyer believe that this is actually going to happen?

• Current issues: drought, ethanol blend wall, fading economic activity in developing countries, rising interest rates, debt levels Indicators to watch: • Japan and China : China almost had one bank closing; they have financial problems. Japan’s debt is double their GNP and try as they will, they can’t seem to generate inflation • Government regulations are striking home even in rural land markets. For example, the qualified mortgage regulations or QM, arising from the Dodd/ Frank act are bringing unintended consequences to rural land markets where there is a house on the land. In addition, the Biggert/Waters act passed in 2012 was designed to wipe out the flood insurance premium subsidies; when they found out the huge cost involved, Congress backed off and reinstateed subsidized insurance premiums on some properties • Mideast, Ukraine, etc.

• Over the years, small properties cost about double the amount per acre as do large properties. The small property market hits the skids when we are expecting a coming downturn.

• World grain supplies: may be some oversupply there • Fed tapering: who knows what will happen when this kicks in?

TEXAS DROUGHT REPORT

FOR THE W EEK OF 06/16/14

DROUGHT CONDITIONS ŽŶƟŶƵŝŶŐ ƌĂŝŶƐ ĐŽŶƟŶƵĞ ƚŽ ďƌŝŶŐ ĐŽŶƟŶƵŝŶŐ ŝŵƉƌŽǀĞŵĞŶƚƐ ĨŽƌ ŵƵĐŚ ŽĨ ƚŚĞ ƐƚĂƚĞ͕ ƉĂƌƟĐƵůĂƌůLJ ŝŶ ƚŚĞ ,ŝŐŚ WůĂŝŶƐ͘ ŶĚ ĨŽƌ ƚŚĞ ĮƌƐƚ ƟŵĞ ƐŝŶĐĞ DĂLJ ϮϬϭϭ͕ >ĂŬĞ DĞƌĞĚŝƚŚ ŝŶ ƚŚĞ WĂŶŚĂŶĚůĞ ŚĂƐ ǁĂƚĞƌ ŝŶ ŝƚƐ ĐŽŶƐĞƌǀĂƟŽŶ ƉŽŽů ĂŶĚ ŝƐ ŶŽǁ Ϭ͘ϭ ƉĞƌĐĞŶƚ ĨƵůů͊ EĞǀĞƌƚŚĞůĞƐƐ͕ ϳϬ ƉĞƌĐĞŶƚ ŽĨ ƚŚĞ ƐƚĂƚĞ ƌĞŵĂŝŶƐ ŝŶ ĚƌŽƵŐŚƚ͕ ĂŶĚ ŵĂŶLJ ƌĞƐĞƌǀŽŝƌƐ ĐŽŶƟŶƵĞ ƚŽ ďĞ ĨĂƌ ďĞůŽǁ ŶŽƌŵĂů͘ Drought statistics ϲϵй ŽĨ ƐƚĂƚĞ ĐƵƌƌĞŶƚůLJ ŝŶ ŵŽĚĞƌĂƚĞ ƚŽ ĞdžĐĞƉƚŝŽŶĂů ĚƌŽƵŐŚƚ ϲϴй Ă ǁĞĞŬ ĂŐŽ ϲϯй ƚŚƌĞĞ ŵŽŶƚŚƐ ĂŐŽ ϴϰй Ă LJĞĂƌ ĂŐŽ

Intensity D0 Abnormally Dry D1 Drought - Moderate D2 Drought - Severe D3 Drought - Extreme D4 Drought - Exceptional

EL NIÑO

dŚĞ EĂƟŽŶĂů tĞĂƚŚĞƌ ^ĞƌǀŝĐĞ ŶŽǁ ƉƌĞĚŝĐƚƐ Ă ϳϬ ƉĞƌĐĞŶƚ ĐŚĂŶĐĞ ŽĨ ů EŝŹŽ ĐŽŶĚŝƟŽŶƐ ĂƌƌŝǀŝŶŐ ƚŚŝƐ ƐƵŵŵĞƌ ĂŶĚ ϴϬ ƉĞƌĐĞŶƚ ĐŚĂŶĐĞ ĨŽƌ ƚŚŝƐ ĨĂůů ĂŶĚ ǁŝŶƚĞƌ͘

16 REDNews.com

Map courtesy U.S. Drought Monitor

FOR LEASE

OFFICE/RETAIL SPACE 1. Woodland Park Shopping Center 11380 Westheimer, Houston 77077

• Shopping center size - 75,620 SF - Built in 1985 • Retail space available (1st floor) - 1,600 SF - 4,000 SF - $13.00/SF + NNN • Aggressive lease terms • Pylon signage available • Traffic counts - 82,880 CPD (Westheimer) • +/- 592’ of frontage on Westheimer • 372 surface parking spaces available

2. Kaleidoscope

10612-10692 Westheimer, Houston, TX 77042

• 2 blocks west of Beltway 8 • 2,952 SF - 2nd floor • Excellent for retail, office or professional use

3. Park West Plaza

8989 Westheimer, Houston 77063

• 20,000+ SF Available • Up to 6,000+ SF Contiguous Space • Aggressive lease terms - $13.00/SF Gross • Generous surface parking at no charge for open, non-reserved spaces • Card-key controlled access • Pylon signange available • On-site management • Parking ratio - 3.4/1000

Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108

A A Realty Co

eleung8888@aol.com

www.aarealtytx.com A A Realty Co

Accredited Management Organization

Accredited Management Organization

1

2

Beltway 8 West

For more information

3 Westheimer Rd

y

a Westpark Tollw

Hang On - The Ride is Just Getting Started Overview of Detlef Hallermann’s Presentation at Texas A&M Outlook for Texas Land Conference

by Janis Arnold REDNews Summary: Shale plays will dramatically increase North American Hydrocarbon Production for the next several decades. Current economic gains are limited by transportation constraints. In order for North America to become energy self-sufficient, we need to maximize Canadian oil sand imports. North American energy self-sufficiency is likely to increase unrest in already turbulent parts of the world.

Conventional wisdom has been that U.S. oil consumption would rise indefinitely; however, current evidence is that U.S. oil consumption will fall, possibly at an accelerating rate, over the next 10-20 years.

Detlef Hallermann Similarly, in the past, conventional wisdom had it that U.S. oil production would continue to taper indefinitely, whereas it now appears likely that U.S. & Canadian production will increase annually for the next 15-20 years. Previously, experts had expected the U.S. to increase its imports of oil; currently they expect North America to increase hydrocarbon exports. Economists had expected the price of oil and natural gas to rise annually, but it is more likely that the U.S. will see stable and declining hydrocarbon prices followed by world political unrest. And contrary to previous expectations, the cost of developing and finding hydrocarbons will not continue to rise, but is already in decline.

Detlef used a coffee analogy to illustrate the changes that he sees emerging in today’s U.S. hydrocarbons. “Think back to previous years when coffee was limited to a very few brands and types and the price of coffee was much lower than it is today,” said Detlef. Today we have multiple varieties of coffee (lattes, etc) and the coffee market has changed significantly. The selection of coffee has increased as has the price of a cup of coffee. In a similar fashion, the energy market has also grown in diversity. We used to have oil, gas, and oil sands; now we have 15 or 20 different energy flavors. This amounts to a ‘supply revolution’ including domestic production growth related to shale reserves (Horizontal Drilling and Reservoir Fracture Treat-

18 REDNews.com

ments) and Canadian Production Growth Rates from their oil sands reserves.

Detlef: “Current projections indicate that by 2017 North America should be self-sustaining; the only thing that is getting in the way of this is our own government.” Shale reserves, horizontal drilling and frac treatments are creating a tremendous revolution in the energy sector. Production growth is significant and increasing. “The oil isn’t going to run out; however, we must develop efficient ways to get it to where we need it. Railcars aren’t going away, but pipelines are a cheaper and safer form of transport.”

North American prices are falling; however, this is not the case outside North Amercia. If prices are falling here, where are the savings? Several factors are keeping prices at current levels.

It does appear likely that North American energy self-sufficiency will lead to ‘political unrest’ in the Middle East...

One: NIMBY (not in my backyard) No one wants pipelines and refineries in their area. The infrastructure that we do have is outdated, with most major natural gas pipes over 40 years old. There is significant congestion in all forms of our energy value chain, including electricity. Transportation is king; this can be clearly seen by comparing the price of natural gas on January 21, 2014, which happened to be a very cold day. In Texas the price of a barrel was $4.58; in Philadelphia it was $4.76; whereas in the New Jersey area, supply was very limited and the cost of transportation constraints increased the price per barrel to $123.50.

Second: not all oils are created equal. Prior to 2007, our imports of light-sweet oil rose steadily for twenty years, but today because of reserves like the Eagle Ford, our importation of light-sweet oil is in rapid decline as our domestic production rises. What is stopping us from self-sufficiency is the problems we encounter in getting the ‘right crude to the refinery’. The heavier crude is needed

by the refineries. Similar issues exist for natural gas and electricity. Canadian oil sand reserves are estimated to be over one trillion barrels and the Canadian oil is a perfect complement to the light sweet crude from our shale. Pipelines are necessary for efficient transportation throughout North America.

Bottom line: in conjunction with Canada, we have all the oil and natural gas that we need.

Currently, the White House perception of the oil and gas situation in the U.S. appears to be that construction of the Keystone Pipeline would be politically disadvantageous because of ‘green’ concerns of constituents and because of the way that it would decrease the friendliness of Russia, the Middle East & OPEC countries toward the United States. Ignored in the current political environment is that the employment opportunities generated by pipeline and infrastructure would be welcomed by labor unions and the American workers, and that natural security would be enhanced as North America becomes energy self-sufficient.

It does appear likely that North American energy self-sufficiency will lead to ‘political unrest’ in the Middle East if the prices that Middle Eastern oil commands continues to fall. Looking at just one Middle Eastern Country, Saudi Arabia, almost 40% of the population in that country is unemployed.

Today, the fiscal break-even point for crude in Saudi Arabia is $71. The estimated % of that country’s GDP that is lost if oil falls to $90 a barrel is over 20%.

In essence, if the price of oil and gas falls significantly, the country will not have the money available to continue to support their citizens in the manner to which they are currently accustomed. The subsidies that these countries give to their citizens is dependent upon the price of oil staying high. Russia currently spends the equivalent of $110 per barrel for their social services. If the price of oil falls, then they will resort to the tactics that we see today. Political unrest/social upheaval generates the demand for energy that keeps the price per barrel elevated.

Detlef Hallermann has over ten years of practical experience in the energy industry and has taught and studied at Texas A&M, Rice University, University of Denver and the Colorado School of Mines. He is an Associate Clinical Professor and Director for the Reliant Energy Trade Center and the Mays School of Business at Texas A&M University.

FOR LEASE - 1,700 - 21,000 SF Available 2306-2428 Texas Parkway, Missouri City, Texas CINEMA

PARKING 2306-2428 TEXAS PARKWAY

• Missouri City Center

Independence Blvd

Texas Parkwa

• Retail Spaces Available

y

• Located on Busy Texas Parkway • Household Income Average $85,390

Elizabeth Stevens | Lila Construction | 713.741.9900 | lstevens@lilaco.com

FOR LEASE - 2,200 - 11,000 SF Available

1. If you DO NOT have changes please sign, date and return.

2. If you HAVE CHANGES, indicate changes on proof and return within 24 hours.

3. Proofs not returned within 24 hours will be considered approved to run AS IS. 4. Ads or inserts cancelled after the 10th of the month will be billed 100%.

6400 Southwest Freeway, Houston TX (exit US 59/Hillcroft) July 2012

Send your

e to Deals Donws .com

jonathan@redne

Lila Construction HP CP Ginger Wheless LilaCo_RN_HP_0712_01.indd BC 06.12.12

2 Using the information in this ad, property information will be sent to LoopNet to be added/updated in their listing service (at no cost to you). To opt-out, contact us at jonathan@rednews.com

• Easy access to / from US 59 / Westpark (adjacent to Metro Transit Park and Ride)

Metro Transit Area

• Playground area and parking spaces (100 to 120) • Recommended facility usage: Education, Medical Office, Engineering

SITE

wy tF s we th u So

Elizabeth | LilaUSConstruction | lstevens@lilaco.com FORStevens LEASE (near 59 / Hillcroft) || 713.741.9900 6400 Southwest Freeway, Houston, TX

23,000 SF Immediate Move-in Available | 3,500 SF and 2,200 SF Also Available REDNews.com 19 • Easy access to / from US 59 / Westpark, Adjacent to Metro Transit Park & Ride • Prior southwest school location with more than 120 Parking spaces & playground area

The Dirt on Houston’s Dirt

REDNews Interviews Jacob Sudhoff, CEO of Sudoff Properties

by Amanda Simonian REDNews Houston has long been known for its affordable real estate market, but there’s a palpable shift in that idea as of late, and much of it has to do with the price of dirt. That’s right, dirt.

As inventory decreases, and demand increases, the price for Houston’s dirt is rising. This isn’t a brand new concept for anyone in the industry.

So, what exactly is Houston’s dirt worth? It’s all just a matter of being able to back into the prices, says Jacob Sudhoff, CEO of Sudhoff Companies in Houston, Texas.

cause the home prices are rising at a rapid pace.”

Jacob Sudhoff’s business includes five separate divisions, all of which will be re-branded under “Sudhoff Companies” later this month. They include Sudhoff Land Services, Sudhoff Builder Services, Sudhoff Investment Services, Development Services and Sudhoff Properties.

“We have 57 different clients in our Builder Services division right now, and through our Land Services division we source land for those builders,” Sudhoff explains. “We also source land for commercial users as well. Because we have built up a significant land acquisition team, we are able to source land for anybody out there.”

Sudhoff Land Services is doing a lot of land transactions simply because they represent such a large number of developers and home builders. They are seeing a tremendous increase in their (growing) list of commercial clients looking for land. “We are starting to source land for multi-family, office, hotel – and we are doing it in a major way,” says Sudhoff.

Our interview with Mr. Sudhoff not only gave us some insight on this land boom, but we also have a sense of what drives him, his desire to improve the inner-city and, of course, what it is that makes Houston’s dirt so special.

Jacob Sudhoff

Tell us how you made it here to Houston, and what you found once you got here.

“Because we are the largest seller of new construction homes inside the Beltway, we have the data in order to understand the market drive,” said Sudhoff. “We have three full-time analysts in my office tracking every single sale. We are able to determine what we can pay for dirt by figuring out what we can get per square foot for the house. That’s why people are seeing the price of dirt rise, it’s be-

When I first got here, I was going to go strictly commercial and then I said, “you know Jacob, there are a lot of people having problems.” It was 2010 and financing was difficult. In Corpus Christi, I had done both residential and commercial. Usually people find niches based on either location or a specific demographic. The niche that I found for myself was in new construction working with builders and developers.

Houston is definitely seeing a big upswing in real estate, and some people say that it is causing people to over-pay for dirt. What are your thoughts on that?

Houston, for the first time in its history, has become a pre-sale market. The market is so strong right now that you have to pre-purchase your home a month in advance. On the land side, let’s use Montrose as an example. I’ve sold houses at $300 a square foot. Most of the other homes in that area are selling for $250 a square foot, or even $265 a square foot. If I’m able to sell homes at $300 a square foot, that allows me to pay more for my dirt. The numbers work for us. I have several deals that have recently closed, and you’d be very surprised by what we paid for that dirt.

“I’ve got a great team behind me. I’ve hired some amazing people. It’s always said, surround yourself with smarter people than yourself. I’ve done that and I’ve got some great Red Oak Com people on my team.”

The information contained herein was o accuracy thereof. The presentation of

If you had to guess, how long do you think this is going to last?

For the next 10 years we’re going to have a nice, really great, ride. This wave is going to last for a while. It’s really interesting because we work with a lot of relocation companies. Those guys aren’t moving all of their people here right now simply because there’s not enough housing for all of them. They’re planning for the next 3 to 5 years.

They are planning long-term to figure out how they are going to be moving tens of thousands of new employees to the Houston area. What we’re trying to do is build the housing for them. continued on page 22

20 REDNews.com

Available 1,611 SF

Property Information:

Suite #

Square Feet

1

4,132

S. Side Tire & Auto Repair

2

1,832

Ace Cash Checking

3

1,028

Vivian Nail Spa

4

4,050

Available

5

4.050

Happy Washateria

Property Information:

Current Tenant

Located in Southwest Houston at the intersection of Chimney Rock and W. Bellfort, Houston, Harris County, TX. 8

6 1,635 Available

Liquor Store

7 871 Available - Storage Located 2 miles west of the E. Sam Houston Tollway 1,244 SF30,655/ E.99¢ Store 8 Beltway 8, on Spencer Highway at the lighted intersection of 9 2,250 The Sameritian Furniture Restaurant Blueberry Ln. TheAvailable Shopping Center offers high 10exposure Advance Auto Parts 8,821 Space andAvailable visibly from Spencer HWY and is surrounded by densely 11 520 Reyes Homes Insurance 2,610 SF 3,136 SF neighbors with close proximity to Bayshore 12 850 Kim’s Barber Shop populated MediTitleMax 13 2,214 cal Center.

14 2,941 South Texas Dental

Available 2,450 SF

15

Major Tenants: 99¢ Store, Ace Cash Checking, Cricket, Advance Auto Parts, Dominos, South Texas Dental, Etc

11

Will sub-divide to 2,412 s.f.

Blueberry Lane

Demographics

Will Sub-Divide 4,050 SF

Population Household Avg HH Income

Major Tenants: Family Dollar, Radio Shack, Cici’s

HOUSTON Pizza, Partners Sales & Leasing, H&R Block, Boot Mobile, Beltone, etc.

Spencer Highway

For Information: 713-681-0600

Demographics

1 Mile

3 Mile

Christian Barraza Population 15,387 christian@redoakcre.com Household 5,991 HH Income $50,253 Hwy, Avg Pasadena, TX 77504

Parkview West

5 Mile

Brian Ellisor 149,432 286,535 713-681-0600 brian@redoakcre.com c 48,636 94,399 $55,486 $58,832 For Information:

Traffic Counts

t Space

an Restaur

c Leasing Availability

2,412 - 4,050 SF 871 SF - Storage

Christian Barraza christian@redoakcre.com

Brian Ellisor brian@redoakcre.com For Information:

Westbury Triangle

713-681-0600 Christian Barraza Brian Ellisor christian@redoakcre.com brian@redoakcre.com

30,050 Spencer Hwy West of Blueberry Ln. ilableSpencer Hwy East of Blueberry Ln. Ava35,570

11330 Chimney Rock, Houston TX 77035

Red Oak Commercial 10900 Northwest Freeway, Ste. 223 Houston, TX. 77092 North Shore High School The information contained herein was obtained from sources believe to be reliable. However, neither the Broker nor Owner make no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

Leasing Availability

1,244 to 2,610 SF 3,136 Restaurant Space Property Information:

Located in the SE corner of Uvalde Rd. and Wood Forest Blvd. Houston, Harris County, TX 77015

Available

Available 4,400 s.f. End Cap : DD’s Discounts, Palais Royal, CiCi’s Pizza, Tenants Advance Auto Parts, Rainbow Shop, LNA Beauty Supply, 4,400 SF End Cap QW World Party Supply, Tittle Max.

Property Information:

Located south of West Park Tollway, in the SE corner of Chimney Rock and Glenmont, Houston, Harris County, TX.

Demographics 1 Mile

Population Household Avg HH Income Med HH Income

Major Tenants: La Michoacána Meat Market, Kinder-

world Daycare, Hunan King Restaurant, Insurance Office,

Available Family Medical Center. mmercial 10900 Northwest Freeway, Ste. 223 Houston, TX. 77092 3,300 SF Will Sub-Divide Demographics

1 Mile

3 Mile

Household Avg HH Income

16,004 $48,588

95,190 215,223 $82,542 $83,016

3 Mile

5 Mile

102,051 157,163 31,395 47,842 $59,335 $58,162 $52,332 $51,876

Traffic Counts

5 Mile

25,380 Uvalde South of Woodforest 21,390 Uvalde North of Woodforest 18,510 Woodforest West of Uvalde Available19,423 Woodforest East of Uvalde

obtained from sources believe to be reliable. However, neither the Broker nor Owner make no guarantees, warranties, or representations as to the completeness or this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.45,511 Population 217,358 497,829

Available 1,000 SF

1,800 SF

Leasing Availability

Available 1,200 SF

For Information: 713-681-0600

39,560 Chimney Rock North of Glenmont HOUSTON

Christian Barraza

18,700 Chimney Rock South of Glenmont Chimney Rock

Brian Ellisor

c 6,780 Glenmont West of Chimney Rock WillTX. Sub-Divide 77092 5,020 Glenmont East of Chimney Rock Red Oak Commercial 10900 Northwest Freeway, Ste. 223 Houston, 1,000-5,000 SF Will Sub-Divide HOUSTON

1,000 - 5,000 s.f.

The information contained herein was obtained from sources believe to be reliable. However, neither the Broker nor Owner makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

c Leasing Availability:

Metro PCS

1,000 SF - 5,000 SF

Traffic Counts 3,300

24,935 8,706 $61,860 $53,373

Available 1,800 SF

QW World Party Supply

A-Best Ins

5708

Cricket Mobile

For Information: 713-681-0600 Christian Barraza Brian Ellisor christian@redoakcre.com brian@redoakcre.com

5708

156,711 436,605 HOUSTON 57,052 154,933 $65,837 $64,891

The information contained herein was obtained from sources believe to be reliable. However, neither the Broker nor Owner make no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

The information contained herein was obtained from sources believe to be reliable. However, neither the Broker nor Owner makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

3421-3513 Spencer

15,999 5,814 $67,169

22,110 Chimney Rock North of W. Bellfort 21,540 Chimney Rock South of W. Bellfort 16,896 W. Bellfort West of Chimney Rock 31,785 W. Bellfort West of Chimney Rock

Domino’s

1,340

1 Mile 3 Mile 5 Mile

Traffic Counts

Available 2300sf

Dewberry Lane

2,450

3,136 s.f.

Foot Massage

Texas Printing

Retail for Lease

TitleMax

3,300 S.F.

Chimney Rock Central

For Information: 713-681-0600 Christian Barraza

Brian Ellisor

christian@redoakcre.com brian@redoakcre.com

5700 Chimney Rock, Houston TX 77081

For Information: 713-681-0600

Christian Barraza christian@redoakcre.com

Woodforest Shopping Center

Brian Ellisor

brian@redoakcre.com

The information contained herein was obtained from sources believe to be reliable. However, neither the Broker nor Owner makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

421-474 Uvalde Rd & Woodforest Blvd, Houston TX 77015

We obtained the information contained herein from sources we believe to be reliable. However, neither the Broker nor Owner have verified its accuracy and can make no guarantee, warranty, or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the

Red Oak Commercial 10900 Northwest Freeway, Suite 223 Houston, TX. 77092

REDNews.com 21

continued from page 20

It is obvious that you are passionate about what you do, and it carries over to your feelings about Houston in general.

Yes. I’ve only been here 4 years, but I feel like I’ve been here for 10. This is such a close knit community. Everybody in the Real Estate business knows everybody else. It is such a pleasure. Truly, it has been an amazing experience to come from Corpus Christi to Houston, not really knowing anyone, and have such awesome experiences. Being able to build a business and work with so many different people has really been a blessing.

Here in Houston it’s all about what you can do!

Can you perform and can you execute on what you say you’re willing to, or what you can do? If you can, people give you an opportunity to earn their business. That’s just so amazing. This is truly a special place.

I think a lot of Houstonians who’ve lived here their entire lives have taken for granted the fact that this is such an “open arms” city. That a new guy can walk into town and prove what he is capable of, and then, if he is really good, can build up a multimillion dollar business within a short amount of

time is pretty amazing.

You have accomplished so much, and you seem to have strategized very well. What is your plan for the next five or ten years; where do you go next?

We’re really trying to improve the quality of life within the inner city of Houston. I’m focusing on bringing mixed-use products to the city and going more vertical, trying to assist in these master-plan areas of town.

I will tell you that I have had my head in the sand for the past couple of years, trying to build this [business] up. We’re really coming out of the ground right now, to let people know who we are and what we do. We are looking at a lot of deals and investing.

It’s been a lot of work. I’ve got a great team behind me. I’ve hired some amazing people. It’s been said, ‘surround yourself with smarter people than yourself.’ I’ve done that and I’ve got some great people on my team. We’re rattling the weeds and shaking things up. We are very active in this real estate market. We love it, and we are having a lot of fun.

What is one piece of advice you can give people wanting to emulate your success? Where would you tell them to start their journey?

Mentorship. Find the person who’s the best at what you want to do. Do whatever it takes to become his/ her student. Work for free, be the grunt, be whatever it takes. George Lee is my mentor. I knew as soon as I met George that I wanted to learn from him. He was exactly where I wanted to go professionally. I never left his side. Even when I became annoying, I was there and I followed up. I was there, learning from him every step of the way. I have learned more from my relationship with George than I have from any other instance in my life. Go find that person, and that will change your life!

Sudhoff Properties makes land acquisition, financing, sales, and marketing happen for home builders. The company’s track record includes marketing and selling new homes in some of Houston’s most prestigious areas. Sudhoff Properties offers comprehensive, customized services allowing builders and developers to focus on what they do best. The result: accelerated real estate success. www.SudhoffProperties.com

So, just how much is Houston’s dirt worth?

Based on these land purchases Jacob Sudhoff Properties shared with us, it’s as good as gold.

411 Lovett...........................................................................................................1/28/2014...........................$2,775,000.00 504 Bering..........................................................................................................1/30/2014...........................$6,600,000.00 6017 Memorial....................................................................................................1/31/2014...........................$5,800,000.00 1002 1004 1006 California, 1007 1005 Missouri................................................2/4/2014...........................$2,776,161.92 5602 Sugar Hill...................................................................................................2/19/2014...........................$1,175,000.00 1835 Sul Ross....................................................................................................2/26/2014..............................$435,000.00 1822 1818 Branard 3911 Driscoll 1823 Sul Ross............................................2/26/2014...........................$1,400,000.00 0 D’Amico.............................................................................................................3/3/2014...........................$2,019,200.00 4006 Barnes (Jackson Hill)...............................................................................3/28/2014...........................$2,400,000.00 2007 Brun...........................................................................................................3/31/2014...........................$1,175,000.00 3522 Blue Bonnet Blvd.......................................................................................4/3/2014..............................$535,000.00 1744 1748 Bolsover...........................................................................................4/30/2014...........................$1,600,000.00 Commonwealth (Pelican)..................................................................................5/21/2014...........................$4,672,500.00 5202 Chandler....................................................................................................5/22/2014...........................$2,369,000.00 2410 Avalon........................................................................................................5/28/2014...........................$1,100,000.00 301 W Polk.........................................................................................................5/30/2014..............................$415,000.00 8315 8303 Long Point..........................................................................................6/9/2014.........................$10,608,711.00 2511 Ohsfeldt.....................................................................................................6/12/2014..............................$330,000.00

22 REDNews.com

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REDNews.com 23

HOUSTON

COMMERCIAL BUZZ

RAY HANKAMER Hankamer & Assoc, Broker, Houston Contributing Writer

Share Your Commercial Real Estate Nightmare Have you had a nightmare situation develop in your commercial real estate practice? If so, please share with your fellow professionals so they can hear your problem, and the solution you found. www.rednews.com/nightmare.

Case #1: Crooked Security Firm We had been hired by a major Houston bank to look after a closed hotel near Intercontinental Airport which the bank had foreclosed on. We were paid a monthly fee by the bank. The hotel was closed and left ready to open again: linens folded and stacked on shelves in the laundry room, kitchen clean and ready to re-open, guest rooms and commercial areas vacuumed and ready to go.

We paid to have a temporary cyclone fence erected around the hotel. We hired a national name security firm to station round the clock officers on the premises, and the bank paid their invoices on time. In addition to the on-site guards, the security contract called for a supervisor to stop in during each eight hour shift to verify their guards were in place.

We also had the listing for the hotel and were showing it to buyers at a $3.2 million asking price.

There was a two day torrential tropical storm which hit near IAH, and a couple of days after the storm, two men from our company stopped in at the closed hotel to check with security on how things were going. As they drove it, an old jalopy pulled up next to them and a lady asked “Where they be sellin’ those TVs?” Red flags went up. Our people drove around back and saw doors open everywhere. No guard was in sight. We went inside the hotel and discovered that the ground floor had flooded with water

24 REDNews.com

marks a few inches up the wall. No one from the security company had advised us and we had no chance to react.

Across the lobby carpet were wheel tracks. Investigating further, our people found that most of the valuable stainless steel equipment was no longer in the kitchen, and the tracks were from the dolly which someone had used to steal it.

It was apparent that the “security company” had been conducting a garage sale of all our chattels, systematically looting the hotel. Supervisors must have been in on the fraud.

Inspection of the laundry storage area indicated few remaining sheets, pillows, bedspreads, and blankets…and most of the TVs had been stripped from the rooms. The locked case containing all room keys was standing open.

It was apparent that the “security company” had been conducting a garage sale of all our chattels, systematically looting the hotel. Supervisors must have been in on the fraud.

We fired the company and replaced it with a new one. The bank refused to pay the security company about $16,000 of outstanding invoices.

Then, we were stupefied when we were served with papers by the constable, suing us as the

agent of the bank for not paying the security company for stealing from us!

We countersued for damages and went to court, claiming diminished value from the security company for the stolen goods AND for a $1 million loss in value of the hotel asset, since potential buyers began discounting their offers by that amount once they saw the damage from the flood and the lost furnishings of the hotel.

After a one week lawsuit, we won. Then we were informed that the security company’s insurance company had filed for bankruptcy, and the security firm had no assets. We won the trial but it was a hollow victory.

Then, when it seemed that nothing more could go wrong, the judge retired, and a new judge took the bench in the court. The security firm’s attorneys went to the new judge and requested that the former judge’s ruling favoring us be overturned. The new judge complied, and the security company geared up again to sue us for the unpaid $16,000.

The lawyers on both sides conferred and agreed that a new suit would not be worth $16,000, and after all this string of nightmares the matter was dropped.

The hotel eventually sold at auction for $1.6 million, half of the appraised asking price before this string of disasters began.

They can’t make this stuff up!

Greenberg & Company

Offering Properties & Hotel Consulting

Commercial Real Estate Brokerage Firm

40 Years Experience As Developer, Owner & Operator

• Hotels - Statewide Contact: Sergio Ortiz

Easy access to 610 W. Loop, Southwest Freeway, Westpark Tollway & Beltway 8.

Land Area: 100,000 SF (2.295 Acres) Area Retailer’s Include:

1700 Dowling St., Houston, TX 77003

Located minutes minutes away from the Central Business District and Downtown.

Brokers: Ray Hankamer, Jr. rhankamer@hankamer.com Pablo Szub szub@mail.com Sergio Ortiz sortiz@hankamer.com Jamie Irvine jirvine@hankamer.com

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

HANKAM & ASSOCI 6111 Richmond Ave., Houston, TX 77057

PROPERTIES AVAILABLE • Beach Lots - Gilchrist • Hotel, Condo, Retail Site - Cruise Terminal - Galveston • Freeway Sites - I-20 - Monahans • 30 Acres - Commercial/Rail Serviced - Tomball • I-45 Huntsville 12 Acres - Residential/Commercial - Huntsville Contact: Ray Hankamer

Hospitality Consulting Services

(713) 40 Years789-7060 Experience As • www.hankamer.com

Land Area: 34,407 SF (.79 Acres)

ATASCOCITA

Area Attractions Include:

4510 Main St.

FULL BLOCK BACK ON MARKET Land Area: 50,000 SF PRIME MIDTOWN SITE BUILD TO SUIT

BROKERS, L.L.C. Contact Broker: David Greenberg - David@greenbergcompany.com Phone: 713-778-0900 Fax: 713-782-7445 5959 Richmond Ave., Houston TX 77057

Developer | Owner | Operator

(713) 789-7060 www.hankamer.com Brokers: Ray Hankamer, Jr., Pablo Szub, Sergio Ortiz, Jamie Irvine e-mail: rhankamer@hankamer.com • sortiz@hankamer.com szub@mail.com • jirvine@hankamer.com

GREAT USER OR DEVELOPMENT TRACTS Flexible Owner Financing Available

6

Hospitality Consulting 1

20.12 acres Brittmoore & Clay Road

8.025 acres Red Bluff & Preston Road 3 1.08 acres Blalock & Clay 4 3.1 acres Hilcroft near S. Main 5 41 unit mini-storage or 8,000+ sf Building 6 20 acres Beautiful Grimes County Ranch Retreat 2

1

3

5

2

4

$13/sf

(up to 140 acres available)

$1.25/sf $9/sf

$2.25/sf

$425,000 $1.5 m

40 Years Experienc Developer | Owner | NOTES FOR SALE - A+ PERFORMING REAL ESTATE NOTES Payout

Rate

Remaining

Security

Price

$292,071.00 $1,250,000.00 $ 1 , 2 8 9 , 0 1 2 .8 5 $ 2 , 9 7 5 , 6 1 6 .0 0

5-7% 10% 4 % 5-8%

48 months 145 months 60 months 236 months

Commercial Historic Bldg.

Commercial Bldg.

Luxury Memorial 2+ ac Homesite & Home 288 acres - Recreational Complex

$200, 000 $700,000 $1,100,000 $1,580,000

M I T C H Z A R S K Y | 7 1 3 . 8 2 5 . 0 7 2 8 | m i t c h z a r s k y @ y a h o o . c o m | BROKERS PROTECTED

REDNews.com 25

HOUSTON

COMMERCIAL BUZZ

RAY HANKAMER Hankamer & Assoc, Broker, Houston Contributing Writer

Houston is a very large city, and it is in its Golden Age-we should enjoy it President of Uptown Houston John Breeding Speaks to CCIM “Since 2010, 400,000 people have moved to our region, a population equal to that of Tulsa, Cleveland, or Oakland”, said Breeding. “Houston is a very large city, and it is in its Golden Age-we should enjoy it”.

Breeding went on to throw out interesting facts about Uptown:

John Breeding

• We have 32 hotels with at least four more on the way, and they drew $300,000,000 in room revenues in 2013, far more than any Houston submarket including the CBD… weekday corporate and weekend leisure demand give Uptown hotels high occupancy and high rates

• The original Macy’s, along with Galleria III, is going through major renovation, and don’t be surprised if what comes back includes a residential component • The Galleria came in the ‘70s “following rooftops” as retail always does…

Tanglewood, Afton Oaks, River Oaks, Briargrove, Briarcroft were the sin-

gle family rooftops. Now, however, the “rooftops” along Post Oak and surrounding streets are high rise rooftops, bringing a significant increase in density • The new “rooftops” being built are for sale AND for lease • The new Hanover development alone will bring 355 units on less than one acre-that’s density!

• Other residential projects under way include Sky House just inside the Loop, Waterwall Place by Hines, the Astoria by Randall Davis, and Bel Fiore by Borlenghi

Uptown Transit Connector 1. West Loop HOV* / Northwest Transit Center

2. Post Oak Boulevard Improvements 3. Bellaire / Uptown Transit Center

*Under consideration. Not committed.

Post Oak Boulevard Dedicated Bus Lanes

Bellaire / Uptown Transit Center

• In the office segment, before the current boom, the Williams Tower (built in 1983) was the last office building to go up – over thirty years ago!; now we have buildings under development by BHP Billiton (30 stories/600,000 SF), Apache (34 stories/750,000 SF), and Amegy Bank, just inside the Loop on the Microcomputer Center site Breeding pointed out that although most people associate Uptown Houston with retail, from the property value standpoint the segments in Uptown stack up as follows: Office-40%, Residential-30%, Retail 20%, Hotel-10%, and Land-2% continued on page 28

26 REDNews.com

5

N 201 E OP ER

S

M M U

For Sale - 10,325 SF - User or Investment Property Westpark Tollway/Beltway 8 Area

Owner Retiring & Ready to Sell Owner financing available to qualified buyer

• Building has 95% A/C & Heat • Located on 30,000 SF Land • Concrete Surface Parking • Wet - Sprinkler • Easy Acess to Westpark Tollway & Beltway 8 • Asking Price: $899,900

Sam Houston Tollway

Richmond Avenue

8616 Daffodil St.

Dunvale Road

Westheimer Road

ay

llw Westpark To

y

w

H

59

Blake Hillegeist 832.860.6066 | blake@blakesellshouston.com REDNews.com 27

continued from page 26 He said that the Uptown “economy” is therefore a ‘four-legged stool’, not overly dependent on any one segment. It is a community where one can live, work, and play, all in a relatively compact area.

With the density, transport/traffic is a challenge, and Uptown has a plan to tie in to the existing Metro bus network, which moves people from outlying suburbs in the NW, W, and SW to their jobs in the Uptown area, as well as to the CBD. Noting that 37% of the workers in the CBD come and go daily by dedicated Park and Ride buses, Uptown plans to tie in to the existing NW Transit Center and to a to-be-built Bellaire Transit Center just south of SW Freeway at the Loop with a dedicated bus lanes project which will use the median of Post Oak to connect the two transit centers.

Commuters coming in from the suburbs will thus be able to access Uptown

Bellaire / Uptown Transit Center

The Uptown “economy” is therefore a ‘four-legged stool’, not overly dependent on any one segment. It is a community where one can live, work, and play, all in a relatively compact area.

office and retail, and in the process, the buses which now are mixed in with automobile traffic will be given their own dedicated lanes, thus easing individual vehicle traffic and offering enhanced public transportation to those who have left their cars in the far suburbs at the Park and Ride lots. Buses will circulate every five minutes and will stop at eight or nine raised platforms, so passengers can step right on with no elevation change.

Funding and environment approval on this project has been arranged and tentatively approved, and right-of-way acquisition will begin this year, with the goal to be open by the 2016 end of year shopping season.

In addition to the bus lanes, the Post Oak “streetscape” will be significantly enhanced, with the existing 400 trees being replaced with 1,000 trees, twelve foot sidewalks, and a landscaped median for the dedicated bus lanes.

Bellaire / Uptown Transit Center

The Post Oak “streetscape” will be significantly enhanced.

Update on the Grand Loop

by Jim Wilkie, CCIM Senior V.P., Seacoast Commerce Bank C.R.E.A.M.’s monthly luncheon was again well attended as we hosted David Gornett, PE of the Grand Parkway Association who gave us an update on the grand loop.

The event opened with a vibrant ‘have-wants’ session which allows local Realtors to share current listings and client needs in a fast-paced round table environment.

Jim Wilkie

as far as 1983 with the GPA being created in 1984.

Initially the counties wanted control and were handling the construction directly, for fear of TXDoT siphoning off the toll fees for projects elsewhere in Texas. But eventually, an agreement was reached that put control with the state, under the stipulation that tolls be limited to the same charged per mile by HCTRA (about $0.18 David Gornett, Grand Parkway Association per mile today) and that all funds remain local.

-Photo by Suzanne Rehak for the Chronicle.

Currently, the portion between 59 in the South and Hwy 290 is up and running with sections connecting 290 west to Hwy 59 N projected to Check-out www.grandparkway99.com for the open in late 2015. Total to run from Sugarland to latest.

Kingwood will cost just under $10.

During lunch, David shared a little history as well as the latest progress on this 184 mile, 7 counties roadway, including and surrounding Houston.

It’s interesting to know that the concept stems Final environmental work on the remainder is And for more information on the Commercial from a 1961 plan by Harris County and the City underway and contracts are expected to be let Real Estate Assoc of Montgomery County visit of Houston. In fact, initial land purchases go back in 2015. www.CREAMtx.com.

28 REDNews.com

LAND/CHURCHES FOR SALE

THE WOODLANDS

New Beginnings Family Church

6303 Bramley, Pasadena, TX - 8,240 SF.............................................. $499,900

Eastex Church

11255 Eastex Frwy - 15,500 SF............................................................ $950,000

Miracle Life Church International

9930 Aldine Westfield - 3,200 SF.......................................................... $275,000

LEASE SPACE - St Paul Presbyterian Church

7200 Bellaire Blvd. - 5,600 SF............................................................ $5,000/mo.

Multi-Purpose Facility w/housing

15402 Sellers Rd. - 7,000 SF.....................................REDUCED..............$225,000

NW Houston Church

10225 Woodedge - 20,000 SF...........................SALE PENDING.......... $1,100,000

Baytown Campus/Training Center Facility (Income producing property)

301 Ilfrey ...........................................................SALE PENDING...........$3,400,000

Up to 29,832 SF of Prime Office Available

Multi-Purpose Bldg

710 College St. - 7,200 SF...............................................SOLD..............$650,000

2700 Research Forest

Religious Facility in South Houston

Joel Dalak 713.974.5226 jdalak@tigusa.com

Beaumont St. @ Illinois - 11,800 SF................................SOLD..............$799,000

International Church Realty (713) 541-4005

www.internationalchurchrealty.com

Subject to change or withdrawal without notice

▪ Experience ▪ Quality • Design/Build • New Construction • Tenant Improvements • Major Remodeling Call 281.402.6656

▪ Integrity ▪ On-time Delivery

WWW.MAXXBUILDERS.COM

John Breeding

▪ Commitment ▪ Attention to Detail • Extraordinary Design • Efficient Engineering • Space Planning

▪ Value Engineering

• Permitting Call 832.659.5651 WWW.MAXXDESIGNERS.COM

▪ Customer Service REDNews.com 29

EPA Adopts New ASTM Standard Environmental Risk Alert: Environmental Risk Alert: As of December 30,Environmental 2013, the Environmental Protection Risk Alert:

EPA Adopts New ASTM Standard

EPA Adopts New ASTM Standard Agency (EPA) approved the new Phase I Environmental Site EPA Adopts New ASTM Standard Assessment (ESA) ASTM E 1527-13 standard for All December 30, 2013 , the Environmental Protection AsAs of of December 30, 2013 , 2013 the AsInquiries of December 30, ,Environmental the Environmental Protection Appropriate (AAI) Landowner Liability Protection Protections.

Agency (EPA) approved new Phase IIEnvironmental Site Agency (EPA) approved thethe new Phase I Environmental Site Agency (EPA) approved the new Phase Environmental Site Assessment (ESA) ASTM E 1527-13 standard for All Assessment (ESA) ASTM E 1527-13 standard All Assessment (ESA) ASTM E 1527-13 standard All Phase Engineering’s Phase I reports comply with for thefor EPA’s Appropriate Inquiries (AAI) Landowner Liability Protections.

Appropriate Inquiries Landowner Liability Protections.

Appropriate Inquiries (AAI) Landowner Liability Protections.

ESA(AAI) requirements.

Phase Engineering’s Phase I reports comply with EPA’s Phase Engineering’s Phase I reports comply with thethe EPA’s Phase Engineering’s Phase I reports comply with the EPA’s Full range of nationwide ESA requirements.

ESA requirements.

ESA requirements. professional environmental Licensed & Certified Lender Approved

services including:

Phase I and Phase II ESAs Full range of nationwide Full range of nationwide Full range of nationwide professional environmental Asbestos • Mold• Lead Licensed & Certified professional environmental professional environmental services including: Licensed &Lender Certified Approved Licensed & Certified Stormwater Compliance services including: services Lender Approved Phase I and including: Phase II ESAs Lender Approved Wetlands• PCAs Phase I and Phase II ESAs Phase I and II ESAs Asbestos • Phase Mold• Lead Asbestos • Mold• Lead Stormwater Compliance Asbestos • Mold• Lead Wetlands• PCAs Stormwater Compliance Stormwater Compliance For details on how your due diligence Wetlands• PCAs Wetlands• PCAs can affect your transaction, call us at Melanie Edmundson, P.G., Principal Mobile 713 826 3342 Melanie@PhaseEngineering.com Melanie Edmundson, P.G., Principal Mobile 713

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Melanie@PhaseEngineering.com Melanie Edmundson, P.G., Principal Melanie Edmundson, P.G., Principal Mobile 713 826 3342 Mobile 713 826 3342 Melanie@PhaseEngineering.com Melanie@PhaseEngineering.com

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EVENTS • NETWORKING • DEALS • ANNOUNCEMENTS

What’s Happening in CRE Texas 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!

Comparison & Lease vs Own”

Central / South Texas

9 hours of MCE - Course #09-00-035-25248 - Provider #0287

Instructor Cliff Bogart, CCIM

Austin | San Antonio | Rio Grande Valley

Visit www.ctcaronline.com for pricing & registration info

C TC A R

Calendar of Events Monday

w w w.c tc aron l in e.com

Tuesday 1

Wednesday 2

Thursday 3

Friday

Saturday/Sunday

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5

11

12

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25

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BOMA Austin July Executive Committee Meeting Invitation Only 11:30 am – 1:30 pm

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10 BOMA Austin Board of Directors Meeting 7:45 am – 9:00 am

CREW San Antonio Members Luncheon 11:00 am – 1:00 pm

14

15

IREM San Antonio Luncheon 11:30 am – 1:00 pm

16 CTCAR MCE Course – “iPad – A Real Estate Tool” 10:00 am – 12:00 pm

BOMA Austin Membership Luncheon 11:30am – 1:00 pm

IREM Austin New Member happy Hour 5:30 pm – 7:30 pm

Networking Luncheon & Presentation Economic Growth in San Marco Region 11:30 am – 1:00 pm

ULI Austin July Breakfast – Residential Development 7:30 am – 9:00 am

CTCAR Networking Luncheon “New Urbanism in Suburbia” 11:30 am – 1:00 pm

CREW Austin Networking Luncheon and Presentation 11:30 am – 1:00 pm

21

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22

17

24

23

29

30

31 IREM Austin IREM Young Professionals Icebreaker 5:30 pm– 7:30 pm BOMA San Antonio Membership Luncheon 11:30 am – 1:15 pm

July 2014

Commercial Organization Contacts - Dallas | Fort Worth Austin BOMA................................................................................. www.bomaaustin.org CBA Austin............................................................................www.cbaaustin.com CCIM..................................................................................... www.ccimtexas.com CREW..................................................................................www.crewaustin.com CTCAR................................................................................. www.ctcaronline.com IREM.................................................................................... www.iremaustin.org RECA................................................................................... www.recaonline.com ULI......................................................................................... www.austin.uli.org

32 REDNews.com

San Antonio BOMA San Antonio......................................................www.bomasanantonio.org CCIM .........................................www.chapters.ccim.com/sanantoniosouthtexas CREW..........................................................................www.crew-sanantonio.org IREM.............................................................................www.iremsanantonio.org IREP........................................................................................... www.irepsa.com RECSA.............................................................................www.recsanantonio.com SABOR......................................................................................... www.sabor.com SIOR (South Texas Chapter)............................................................ www.sior.com

For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com CCIM Austin – June Luncheon

Wes Walters CCIM - Walters Realty, Frank Cheng – Market Maker Realty

Kara Pinelli,Broadway Bank , Fred Higgins CCIM -REOC Austin, Yasmeen Siddiqui-Cooper Commercial, Heather Ross- Cooper Commercial

CCIM 102 Course

Lise Wineland CCIM -Kennedy Wilson 2014 Chapter President, Jim Young CCIM -KW Commercial, Kevin Ormsby CCIM, Joey Christoper CCIM, Kelli Morrison CCIM- Morrison & Head

Marc Rankin CCIM -Market maker Realty, Lee Jackson -Virtus Real Estate Group, Jeff Lovaas -Salus Healthcare Real Estate, Trac Bledsoe -B3 Commercial Investments, Kevin Hunter HYH Capital

CREW Austin Careers Event

Committee Chairs Jen Bussinger & Aimee Randle

Team of girls who participated in the Commercial Real Estate Development Challenge

Attendees at CCIM Central Texas 102 Course

BOMA San Antonio Golf Tournament

One of the sponsors at the BOMA SA Golf Tournament

Having fun at the BOMA SA Golf Tournament

One of the teams at the BOMA San Antonio Golf Tournament

The First Place Winners at the BOMA San Antonio Golf Tournament

REDNews.com 33

North Texas Calendar of Events

Dallas | For t Wor th

2014 Sponsorship Packages now available!

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

commercial real estate women

SPONSORSHIP OPPORTUNITIES START AT $750.

Monday

7

Visit the CREW-Dallas.org website Tuesday for more information or call the Wednesday

Thursday

CREW office at 214.890.6490

1

2

8

9 BOMA Dallas TOBY Happy Hour 6:00 pm – 7:30pm CREW Fort Worth Meeting - Downtown Ft. Worth 11:30 am – 1:00 pm

Friday

Saturday/Sunday

3

4

5

10

11

12

19

July 10 BOMA Dallas Young Professionals Panel 6:00 pm – 7:30 pm

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15

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CCIM North Texas CI 104: Investment Analysis for Commercial Investment Real Estate 8:00 am – 5:00 pm

BOMA Dallas Luncheon + Educator Seminar 9:00 am – 10:30 pm

CCIM North Texas Happy Hour 5:30 pm – 7:30 pm CREW Dallas Luncheon - Betsy Price, Mayor of Ft. Worth 11:30 am – 1:00 PM

SE Corenet MCR – Corp. Real Estate Finance 8:00 am – 5:00 pm SE Corenet Southwest Member/ MCR Participant Happy Hour 5:00 pm – 7:00 pm

SE Corenet MCR – Sustainable Strategies: Impact on CRE 8:00 am – 5:00 pm

21

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25

NBC Studio Tour 3:00 pm – 5:00 pm

26

BOMA Dallas Allied Panel: Future of Property Management 11:30 am – 1:00 pm BOMA Fort Worth Board Meeting – By invitation 12:00 pm

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July 2014 Commercial Organization Contacts - Dallas | Fort Worth BOMA Dallas....................www.bomadallas.org

IREM Dallas .....................www.irem-dallas.org

TREC................................... www.recouncil.com

BOMA Fort Worth...... www.bomafortworth.org

NAIOP.....................www.northtexasnaiop.com

ULI...............................www.northtexas.uli.org

CCIM..................................... www.NTCCIM.com

NTCAR........................................ www.ntcar.org

CREW Dallas.....................www.crew-dallas.org

SCR........................................... www.scr-fw.org

CREW Fort Worth....................www.fwcrew.org

SIOR............................................www.sior.com

GFWREC.................................www.gfwrec.com

SW Corenet ........www.southwest.corenetglobal.net

34 REDNews.com

For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com North Texas CCIM Networking Event

(Left to Right) David Schnitzer, CCIM and Past NTCCIM President with Brad Crumpecker, CCIM, Current NTCCIM President

McClure Partners were sponsors of the event – Susan McClure and Mac McClure

A wonderful evening of networking! (Various participants)

CREW Dallas Luncheon

Shannon Dupee, Jeanne St. John, Amy Stanfield

Janice Peters, Travis Booth, Craig Wilson, Walt Montford, Michelle Hudson, Tracie Frazier

GFWRENC Golf Tournament

Attendees at the GFWREC golf tournament

REDNews.com 35

Southeast Texas Calendar of Events Monday

Networking

Tuesday 1

Wednesday 2

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

Houston and Vicinity |

Educat ion

Technology

CCIM Course Scholarships

Thursday

CI 101, CI 102, CI 103, CI 104 or CCR & Exam

3

8

4

10

11 CCIM Houston July Luncheon 11:30 am

14

15

16

CREAM Luncheon – Paul H. Layne, The Woodlands Development Co/ Howard Hughes Corp 11:00 am – 1:00 pm

21

17 FBCSR Monthly Meeting 8:00 am – 9:00 am

22

BACREN Monthly Luncheon - 11:00 am CREW Dine Around 6:00 pm – 9:00 pm HRBC Monthly Breakfast 7:00 am – 8:30 am

23

24

30

31

Saturday/Sunday

ETH800-Ethics for the Real Estate M

Available to current Houston/Gulf Coast CCIM Chapter Members

9

IREM AUSTIN PRESEN 5

Friday

Contact Ginger Coleman at 713.783.0297 or ginger@amchouston.com /www.ccimhouston.org

7

A CP z De z Ple Galveston sta z Pro

September 10th, 2013, 8:00am – 5:0 For more information and registrati visit iremaustin.org 12

CREN Luncheonwww.iremaustin.org • 512-301-3

11:00 am – 1:00 pm

18

19

CREN Breakfast/Marketing Session GHP Power Hour with State Representative Garnet Coleman 8:00 am – 9:00 am IREM Young Professionals Happy Hour 5:00 pm – 7:00 pm

25

26

ACRP Cocktails & Networking 5:30 pm – 7:30 pm CCIM and CREAM Top Golf Social 3:30 pm – 6:30 pm

28 BOMA Houston RPA Course – Environmental Health & Safety Issues 8:00 am – 5:00 pm

29 BOMA Houston RPA Course – Environmental Health & Safety Issues 8:00 am – 5:00 pm

BOMA Houston RPA Course BOMA Houston Environmental Health & Safety Issues RPA Course – Environmental 8:00 am – 5:00 pm Health & Safety Issues 8:00 am – 5:00 pm GHP Best in Class 8:00 am – 1:00 pm Greater Houston Partnership US – Ethiopia Investment Summit CREN Happy Hour 8:00 am – 4:00 pm 5:30 pm – 8:00 pm

July 2014

Commercial Organization Contacts - Houston and Vicinity | Galveston ACRP...................................................www.acrp.org BACREN........................................www.bacren.com BOMA.................................www.houstonboma.org CCIM ....................................www.ccimhouston.org CoreNet................www.houston.corenetglobal.org CREAM........................................www.creamtx.com CRE.......................................................www.cre.org CREN..................................www.crengulfcoast.com

36 REDNews.com

CREW................................... www.crewhouston.org FBSCR...............................................www.fbscr.com Greater Houston Partnership......www.houston.org HOLBA............................................. www.holba.org HRBC..................................www.houstonrealty.org IREM.....................................www.iremhouston.org NAIOP.................................www.naiophouston.org O’Connor & Associates.............www.poconnor.com

HREC................ www.houstonrealestatecouncil.org SIOR......................................www.siorhouston.com ULI..........................................www.houston.uli.org For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com CCIM June Luncheon

D’Etta Castro-DeLeon, Cynthia Olsen, Julianne English

Eli Kiefaber, Alma Saldana, Thuy Tran

BOMA Houston 2014 Expo

Edward Trahan, CRBE

Ike Samad and Larry Schanzmeyer

Sandy Benak and Fred Cook

IREM Young Professionals Luncheon

Ryan Barbles, Tammy Betancourt, Melissa Thuston, Eugene Barbles

Jimmie Fauth with PJS, Flod Mahanay, Pesident of PJS, Janie Snider, CPM President of IREM Houston with Griffin Partners, Brent Southwell, CEO of PJS.

Roger Sullivan with Keystone Resources, Kelly Hendrix with Stream Realty, Robert Tyler with Brookfield Properties, Mauricio Torres with PJS, Blaire Brusnighan with Stream Realty (all IYPs), Lan Bentsen Founder and Chairman of Shape Up Houston and guest speaker.

C.R.E.A.M. Houston June Luncheon

C.R.E.A.M.’s Monthly Luncheon opened with a vibrant ‘have-wants’ session

C.R.E.A.M.’s monthly luncheon was again well attended as we hosted David Garett, PE of the Grand Parkway Association who gave us an update on the Grand Parkway

Bryan Frenchak of Maverick Development, Karyn Jackson Stephens, C.R.E.A.M. President, and David Garnett, PE of Grand Parkway Association at C.R.E.A.M. June Luncheon

REDNews.com 37

ANNOUNCEMENTS & DEALS DONE

CENTRAL/SOUTH TEXAS

(AUSTIN/SAN ANTONIO AREAS)

ANNOUNCEMENTS Marc Krohn joins CBRE’s Austin office as Managing Director of Asset Services for the Central Texas region. Mr. Krohn and his family relocated from Cincinnati, where he previously served as a Director of Asset Services for CBRE’s Cincinnati and Dayton, Ohio, and Northern Kentucky markets. In his new role, Mr. Krohn will oversee an approximately 16-millionsquare-foot real estate management portfolio throughout Austin, San Antonio and El Paso, as well as lead and manage approximately 50 real estate management and engineering employees, and new business development Marc Krohn

Log on to REDNews.com for daily updates

office building will be known as The Health Commons. The property is located at the southeast corner of FM 306 (Barbarosa Road) and FM 1101 across the street from Tenet Healthcare’s Resolute Health Hospital, which will open next month.

MULTI-FAMILY AUSTIN (SALE) – Woodland Property Group has brokered the sale of a shovel ready 6.34 acre tract of land with entitlements for a 168 planned garden-style apartment community. Located at 6500 Manchaca Rd, in the city’s’ south-central submarket. The development will consist of 7 three-story buildings and a two story luxury clubhouse. Blair Helgren with Woodland Property Group represented the Seller, Whiddon Development Inc, and Brandon Miller with The Brandon Miller Group represented the Buyer.

AUSTIN (SALE) – Austin-based multifamily developer Oden Hughes LLC has sold its 293-unit Landmark Double Creek community in South Austin to Brass Enterprises, a private real estate investment company based in Toronto.

INDUSTRIAL AUSTIN (SALE) – Origin Capital Partners has acquired a three-building industrial portfolio at Bergstrom International Airport. The portfolio totals 176,060 sf and was developed in 1996. The acquisition was made on behalf of Origin Capital’s second value-add fund, Origin Capital Fund II LLC, and in partnership with the Lynxs Group.

The seller was GE Capital.

AUSTIN (SALE) – Bellomy & Co. announced the sale of Lake Travis Self Storage in Austin. The class A, institutional quality property consists of 569 units in more than 89,600 net rentable square feet. The property was fully renovated in 2010. At the time of closing the facility was 87% occupied.

LAND BEE CAVE (SALE) – An undisclosed buyer has purchased 1.54 acres at the Falconhead Pad Site (3470 RR 620, Bee Cave). Cole Brodhead and Jerel Choate of Retail Solutions represented the seller.

JOURDANTON (LEASE) – NGL Water Solutions has contracted a ground lease at a .50 acre pad site in Jourdanton (SEQ of HWY 97 & Walton Ave, Jourdanton). Charlie Roof of Retail Solutions represented the landlord.

MIXED USE DEVELOPMENT

OFFICE AUSTIN (LEASE) – Pharmaceutical Product Development has leased 224,979 square feet at MetCenter 10. The multi-year lease will fill nearly 65% of the 345,600-squarefoot building that is part of the 550-acre mixed-use MetCenter Business Park. National Asset Services represented the 29 Co-Owner Tenants in Common in the transaction.

SAN ANTONIO (DEVELOPMENT) - Stream Realty Partners is building an office development in Westover Hills. The 100,000-sf One51 Office Centre will be at 10162 SH 151 with a floor plate design accommodating tenants from 22,000 to 100,000 sf. Parking will be at a 6:1,000 ratio. Stream will break ground on the 8.28-acre site in August, with completion in second quarter 2015.

RETAIL/RESTAURANT SAN ANTONIO (LEASE) – Starbucks has leased 1,785 SF at the Plazas at Callaghan (7863 Callaghan Rd, San Antonio). Charlie Roof of Retail Solutions represented the landlord and Brett Clifton represented the tenant.

SAN MARCOS (LEASE) - A nail salon has leased 1,000 SF at San Marcos Plaza (1023 Hwy 80, San Marcos). Andrew Perkel and Preston Wolfe of Retail Solutions represented the landlord.

PFLUGERVILLE (DEVELOPMENT) – A $25 million office project is in the works in a mixed-use development. Olympus Plaza will contain 130,000 sf at 130 Commerce Center. Groundbreaking is scheduled by year’s end, with the first building being the 60,000-sf, three-story Olympus Plaza I. The project is being developed by Austin-based Russell Interests Inc. A summer 2015 completion is expected.

MANOR (LEASE) - El Pollo Rico has leased 2,400 SF at Manor Commons (SWC of HWY 290 & FM 973/Loop 212, Manor). Cole Brodhead and Andrew Perkel of Retail Solutions represented the landlord and Matt Delahoussaye of 12 Rivers Commercial represented the tenant.

SAN ANTONIO (DEVELOPMENT) - CBRE represents San Antonio-based Alternivest Healthcare in the purchase of approximately 30 acres in New Braunfels. The site will be master-developed as an age-in-place destination, with plans to include a medical office building, skilled nursing facility, and assisted living/memory care. The medical

AUSTIN (LEASE) – CBRE leased 2,864 SF to Beverly Cosmetic Surgery Institute Tenant Broker(s)/Firm: Todd Gilfillan with CBRE Austin Landlord: Eurus Estates I, Ltd. Landlord Broker(s)/Firm: Doug Rauls with The Kucera Companies Property Address: 5910 Courtyard Drive, Austin, Size: 2,864 SF Additional Information: Renewal

38 REDNews.com

CEDAR PARK (LEASE) - Artistry Medical Aesthetics has leased 1,800 SF at Cypress Bend Shopping Center (2051 Cypress Creek Rd, Cedar Park). Andrew Perkel of Retail Solutions represented the landlord and Phil Morris of Retail Solutions represented the tenant.

NORTH TEXAS

ANNOUNCEMENTS & DEALS DONE (DALLAS/FT. WORTH AREAS)

ANNOUNCEMENTS DALLAS - CBRE announces the arrival of the Real Estate Associate Program (Project REAP) to Dallas. The ten-week, 20-class program taught by industry leaders seeks to connect young professionals of diverse ethnic and cultural backgrounds to commercial real estate career opportunities.

CBRE will take part in planning the southwest region’s inaugural Project REAP curriculum following the program’s presence in several major cities throughout the U.S., including New York, Los Angeles, Chicago, Atlanta, Cleveland and Washington, D.C. Project REAP seeks to identify candidates from a wide spectrum of disciplines and professional backgrounds. The curriculum will include market analysis, financial analysis, site selection, development, leasing and brokerage.

Executives from other local companies, including Howard Hughes Corporation, Emmitt Smith Legacy, Behringer and Duke Realty, as well as the Dallas chapters of NAIOP, BOMA, ULI and CREW, will also contribute to planning efforts.

Project REAP will begin accepting applications on June 9. Applicants must have a four-year degree and three to five years of post-college professional experience to be considered.

DALLAS – CBRE Dallas announces that Phil Puckett and Dave Anderson have been named Office Broker of the Year and Industrial Broker of the Year, respectively, by the North Texas chapter of the National Association of Office and Industrial Parks (NAIOP).

Phil Puckett

Broker of the Year candidates are nominated by Principal Members of the NAIOP North Texas chapter and are selected based on consistent, outstanding performance, excellent reputation for honesty and integrity, and active involvement in volunteer organizations in the Dallas area.

“Phil and Dave both had tremendous years in 2013. However, their individual tenured success throughout many years speaks for itself,” said Blair Oden, a Managing Director with CBRE in Dallas. “We could not be prouder of them for this Dave Anderson prestigious recognition and for their leadership within CBRE.” Mr. Puckett and Mr. Anderson, both Executive Vice Presidents with CBRE in Dallas, have consistently been named CBRE top producers both on the local and national levels. Mr. Puckett holds more than 25 years of experience in office tenant representation, during which time he has completed more than 4.2 million square feet of lease transactions. Mr. Anderson, an industrial properties professional, has closed more than 800 deals exceeding 65 million square feet and 8,000 acres of land.

INDUSTRIAL IRVING (TRIPLE TRANSACTION) Curran of the Mercer Company spearheaded a triple transaction that included a building sale, purchase and lease to help two clients increase profitability of their businesses. Last fall, Curran represented M2 Investments in the sale of a building the landlord owned at 3324 Towerwood Rd. in Farmers Branch, which allowed the firm to purchase a larger building to lease out this spring. A month-and-a-half later, Curran assisted in the leasing of the new space at 3234 Towerwood Rd. to Entrada Iron and Wood Doors, which sells iron doors and home decor. M2 Investments increased their space from 7,150 square feet to 27,000 square feet, allowing for more and/or larger tenants.

Log on to REDNews.com for daily updates

MULTI-FAMILY DALLAS (SALE) – CBRE’s Dallas Multifamily group announces the sale of Manchester Park, a 126-unit, value-add apartment complex located at 2011 Lincoln Drive in Arlington. California-based Brookline Investment Group purchased the property from Landmark Apartment Trust. Mr. Deuillet and Dirk Goris of CBRE in Dallas represented the seller in the transaction. The complex is currently 97% occupied.

IRVING (SALE) Marcus & Millichap announced the sale of La Costa Townhomes, a 88-unit apartment property located in Irving, according to Bill G. Jordan, regional manager of the firm’s Fort Worth office. Al Silva, Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a local private investor. The Dallas based buyer was also secured by Silva. The property attracted seven offers during a three week marketing period and closed just 45 days after an agreement was reached. The buyer plans on making improvements to the property to make it more competitive in the rental market.

OFFICE DALLAS (LEASE)– Lincoln Harris CSG, a full-service commercial real estate services company, has negotiated a 10,554-square-foot lease for Medical City Dallas at the Currin Building in Preston Center, owned by Lobello Properties. The facility marks another location among Hospital Corporation of America’s (HCA) off-campus emergency department model, designed to ensure patients receive immediate care and treatment close to home. Rhodes Baker, Senior Vice President at Lincoln Harris CSG, worked with Brian Bacharach, vice president at Lincoln Harris CSG, on behalf of the tenant, Medical City Dallas. Bill Archer of CASE Commercial Real Estate negotiated on behalf of the landlord, Lobello Properties.

RETAIL/RESTAURANT FORT WORTH (LEASE) – Marcus & Millichap announced the sale of Family Dollar, a 8,002-square foot net-leased property located in Fort Worth, according to Bill G. Jordan, regional manager of the firm’s Fort Worth office. Vincent Knipp, Associate Vice President of Investments and Chance Hales, Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a partnership.

DALLAS (LEASE) La Azteca has leased 13,500 SF at the Lakefront at Little Elm (407 Eldorado Pkwy, Little Elm). Chris Flesner and Taylor Mann of Retail Solutions represented the landlord DALLAS (LEASE) Total Wine & More will occupy a 33,207 square foot space at the Highlands Shopping Center in Arlington. The center fronts Interstate 20 between S. Cooper Street and Matlock Road. Total Wine & More is America‘s Wine Superstore— the country‘s largest independent retailer of fine wine. They started in 1991 with two wine stores in Delaware and currently operate 101 superstores across 15 states and are growing rapidly. Cynthia Bailey of WindStar Properties represented the landlord, WindStar Texas Investors, L.P. The tenant was represented by Darrell Hernandez and Jack Breard of United Commercial Retail Services, Inc. dba UCR. DALLAS - Grandbridge Real Estate Capital, LLC arranged permanent acquisition financing for Buckner Commons, a 93% occupied, 50,000 square foot retail center located in Dallas, TX. Grandbridge’s deal team was led by A. David Schwarz IV, CCIM and Tip Strickland. The 10 year loan is 75% loan-to-value, non-recourse, predicated on a 30 year amortization with an interest only component at a sub 4.5% interest rate.

REDNews.com 39

ANNOUNCEMENTS & DEALS DONE

SOUTHEAST TEXAS

(HOUSTON AREA)

ANNOUNCEMENTS

David Jarvis

McAlister Investment Real Estate, in conjunction with the launch of the McAlister Opportunity Fund 2014, has hired David Jarvis to serve as Executive Vice President managing real estate acquisitions, deal structuring, and market research. Mr. Jarvis brings over thirty-five years of experience in residential development sales, market economic research and the development of residential real estate. Prior to joining McAlister Investment Real Estate, Mr. Jarvis held the position of Houston Director at MetroStudy for seventeen years. Mr. Jarvis’ many certifications include CCIM designation, MIRM (NAHB), Texas Real Estate Brokers License and State of Texas Licensed Property Tax Consultant.

CBRE Group, Inc. announced today that Myra Smith, a Houston, Texas-based Managing Director in the company’s Occupier Services group, was included in Fortune’s Heroes of the 500 2014, part of the magazine’s Fortune 500 coverage.

Melissa Gerber Brams has joined her father, David Gerber, at Gerber Realty as a Sales Associate.

planned community of Ten Oaks with plans to build 382 units. The purchase price was not disclosed.

MULTI-FAMILY Houston (DEVELOPMENT) – Blackhaw Partners, a subsidiary of JDMco and J. D. McCaslin & Co. of Dallas, recently completed the purchase of 21 residential lots, which total about 10 acres of the Addicks Dam subdivision, in Houston’s Energy Corridor.

Mark Kidd Sr. of M Kidd Properties represented homeowners, families and investors over a 2 1/2-year period to assemble, market and close on the 21 transactions.

SEABROOK (DEVELOPMENT) Western Rim Investors has purchased 15 acres of land at 3300 Bayport Boulevard, Seabrook, to build an apartment complex to contain 416 units. The Seller was WMF Investments, Inc. headquartered in Clear Lake. Rob Banzhaf of Newcor Commercial Real Estate represented the seller in the transaction.

Jason Kieschnick of Zann Commercial Brokerage, Inc. represented the buyer in the Transaction.

OFFICE Houston (SALE) - Grandbridge Real Estate Capital, LLC arranged acquisition bridge financing for a 142,000 square foot class B office building located in southwest Houston, TX. Grandbridge’s deal team was led by A. David Schwarz IV, CCIM and Tip Strickland. The loan is a 65% loan-to-value, non-recourse, facility with a very competitive rate and prepayment flexibility.

Myra Smith

Melissa Gerber Brams

INDUSTRIAL Houston (SALE) – Cushman and Wakefield of Texas Inc.’s Houston office negotiated the sale of 30,000 square feet of office/warehouse space located at 3901 Sherman in Houston, TX. James E. Foreman and Louis “Beau” Kaleel, SIOR of this office represented the buyer in the negotiations. Alan T. Ward represented the seller.

LAND The Woodlands (SALE) – David Alexander with Newcor Commercial Real Estate facilitated the off market purchase and sale of 25.6 Acres near FM 2978 and Shady Ln., just west of The Woodlands in Magnolia. Karl Kaiser was the buyer and Albert and Cheri Friday were the sellers.

Houston (SALE) – Transwestern Development Co. has purchased a 74-acre site in West Ten Business Park on Interstate 10 at Cane Island Parkway in Katy, within Houston–The Woodlands–Sugar Land metropolitan area.

Cypress (SALE) Memorial Hermann Health System has purchased a 32-acre site in the Cypress area. The site is on the northeast side of Highway 290, south of Mason Road, northwest of Mueschke Road and southeast of the Grand Parkway.

Houston (DEVELOPMENT) – Hunington Residential Inc. has acquired 7.9 acres off the northwest corner of Barker Cypress and Park Row within the Wolff Cos. master-

40 REDNews.com

Log on to REDNews.com for daily updates

Houston (LEASE) – Trammell Crow broke ground on Energy Center Four, a 600,000-square-foot office building located in Houston’s Energy Corridor. The 22-story facility at 925 N. Eldridge Pky. is 100% preleased to ConocoPhillips, which also completely preleased the 550,000-square-foot Energy Center Three building. Delivery is expected in December 2016.

Cody Armbrister and Steve Rocher of CBRE handled the leasing. The project architect is Kirksey Architecture.

Houston (SALE) – A joint venture comprised of Mallick Group and Keating Investments acquired the 151,000-square-foot office facility at 6001 Rogerdale Rd. in Houston, TX from Daymark Realty Advisors The two-story building was completed in 2008 within the 225-acre, master-planned Oak Park at Westchase Business Park in Houston’s Westchase district. Known as Oak Park Office Center III, the building is 100% leased to global engineering firm CB&I. Robert Williamson and Trent Agnew of HFF represented the seller. International Bank of Commerce-Houston (IBC Bank) provided acquisition financing.

RETAIL/RESTAURANT HOUSTON (SALE) – Hunington Properties, Inc. a full service commercial brokerage company has announced the sale of the 9,900 square foot net-leased multi-tenant retail center The Shops at Vicksburg located on Hwy 6 at Vicksburg in front of the recently opened Super Wal-Mart. Sandy P. Aron represented Hunington Properties, Inc. had the exclusive listing to sell the property. Management and Leasing will be retained by Hunington Properties, Inc. The buyer is a newly formed partnership out of Canada. Permanent financing secured by Jeff Stein c/o CBRE Capital Market.

HOUSTON (SALE) – Coldwell Banker Commercial United, Realtors announces the sale of a 4,224 square foot car wash located at 9886 Bissonnet, #B, Houston. Matthew Yale of Coldwell Banker Commercial United, Realtors represented the seller and Hyo Woo of SPT & Co. Realty represented the buyer.

CLASSIFIEDS

INDEX

281-205-7956 Moverg.com

1.9 AC - Fry Rd. Near W. Little York, Katy, TX

5900 Memorial Suite# 305 Houston, TX 77007

713-533-1933 porterpowers.com

FM 529 Fry Road

N

TE SI

“During our move, Move Resource Group was able to set us up in our new office with zero downtime for our company, which saved us from losing revenue that would have resulted from fewer working days.

Move Resource Group is worth every penny!”

- Jenette W., Cinco Energy Services

• 1.96 Acres • $570k/$6.66 PSF; Below Market • 281’ FF - Fry Rd.; 300’ Depth • On-site Detention NOT Required

• All Utilities Available TAO Interests, Inc - Broker

W. Little York Road

Tim Opatrny • 713.621.9841 www.taointerests.com email: tim@taointerests.com

ADVERTISER

INDEX

A. A. Realty Company .....................................17

International Church Realty..............................29

ACRP..............................................................36

IREM Houston.. ................................................36

BACREN. . ........................................................36

John Daugherty Realtors. . ..................................2

Blake Hillegeist Real Estate.............................27

LandPark Commercial........................................7

Caldwell Companies.. .......................................15

Levcor, Inc.......................................................27

CBRE ......................................... 1-SE Texas, 3

Lila Construction..............................................19

CCIM Central Texas.........................................32

Maxx Builders..................................................29

CCIM Houston Gulf Coast................................36

Mockingbird Management, L.L.C. ...................23

CCIM North Texas. . ..........................................34

Phase Engineering, Inc....................................30

C.R.E.A.M... .....................................................36

Porter Powers..................................................41

CREN..............................................................36

R. S. Hart Commercial Brokerage, L.L.P...........13

CREW Dallas...................................................34

Red Oak Commercial.......................................21

CREW San Antonio..........................................32

TAO Interests, Inc........................................... 41

CTCAR............................................................32

Tarantino Properties, Inc................................8, 9

Greenberg & Co.. . ............................................25

TIG Real Estate Services.................................29

Hankamer & Associates...................................25

Wells Asset Management Inc. .. 1- North Texas, 5

Harry M. Green Interests..................................43

Zarsky Industries.............................................25 REDNews.com 41

LAST

PAGE

My First Last Page It’s a Pleasure to Meet You!

by Amanda Simonian REDNews

Well, here I am at REDNews. I’m an e-Marketing Manager in this great big world of CRE. You may have already noticed some changes in the weekly newsletter we send out, and I’ve been working tirelessly on all of those e-Blasts you guys have – but, we have barely begun to scratch the surface.

I’ve taken a really strange route to get here, so I thought I would use my very first ‘Last Page’ to introduce myself to you, personally.

Two years ago if you would have said I’d be working for a leading CRE Marketing company, and doing marketing things no less, I would have said you were crazy! If you would have told me 10 years ago that I would be living in Texas, I would have said you were even crazier!!

Born and raised in Washington State, I grew up to be a business analyst for some of the major companies that have headquarters there – you’ve probably even heard of that software company up there in Redmond. So, when I was offered a position here in Houston back in 2008, I couldn’t really think of a downside. The final tick in the “yes” column was the fact there are palm trees here. So I did it.

I made the drive from Seattle to Houston.

Numbers have ruled my professional life for as long as I can remember. I’ve got some Excel skills that you wouldn’t believe. Writing has always ruled my personal life. It’s what I enjoy doing. It came time to make a decision, and thankfully I have a very supportive husband who told me to go for it – despite having to start over. My ability to analyze trends and chart them out for CEOs won’t prove to anyone that I am a good writer, or that I know anything at all about marketing.

Alright. I’m in Houston, and I’m not an analyst anymore. I hit the pavement. I knew what I wanted to do and I was fortunate to find a couple of guys named Brian Beckcom and Vuk Vujasinovic that gave me a chance to show them what I can do. They challenged me every single day to take on things that I’d never attempted before. I was creating entire marketing campaigns. I was shooting and editing educational videos. I was writing a lot of content.

I’d made it. I was finally doing something I loved. I was MARKETING. I was marketing for lawyers. I was darn good at it. So, there I was writing about the Jones Act, piracy off the coast of Nigeria, and one particular, rather famous,

42 REDNews.com

Somali pirate attack that happened a few years ago. Someone actually made a movie about that one.

I’d spent all that time learning new things, taking on more challenges and I got hungry for more. The opportunity to work at REDNews landed in my inbox. I don’t know much about CRE, but then again I didn’t know piracy was such a problem off the coast of Nigeria either. When you are good at what you do, and you have that hunger, you can do anything. I went for it. I went after the opportunity with ferociousness because I knew it’s what I wanted.

Marketing people are funny that way. We can never turn it off. It’s part of who we are. I didn’t go to school to learn design. I never even thought of it, mostly because I can barely draw a legible stick figure. It took me looking at the art of marketing from a different perspective. It took me working for attorneys, which might just very well be the most difficult thing to market, to finally see the concept.

Marketing for CRE isn’t an altogether different animal, maybe a different color fur – but the structure is the same.

It’s about finding ways to entice people into trusting you. Your clients want to know that you are working for them, and that you have their best interests at heart. Your advertising needs to grab the attention of other people in the industry. You are constantly on your game. That’s what REDNews brings to the table, and that’s what I get to do for you.

I’ve found my home at REDNews. I’ve stared at more HTML code than I ever planned to in my lifetime. I’ve found people who love design as much as I do, people who can just feel it in their bones. There is this inexplicable need to make something great, and have people recognize what we do. That is everything REDNews.

I’m excited by where this journey has taken me. I look forward to working with all of you for years to come adding my own little spice to the CRE world.

Contact me to talk about all of the great things we can do to build your brand and make you stand out from the rest! Amanda@rednews.com, 713-661-6300.

Harry M. Green Interests, Inc.

Broker: Donald Daum Office: 713.953.9800 Mobile: 281.546.9073 ddaum99517@aol.com

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Broker: Donald Daum | Office: 713.953.9800 | Cell: 281.546.9073 | ddaum99517@aol.com

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