REDNews October 2015 by RE Journals

October 2015

In this issue:

Building a Texas-Sized Pipeline Office/Industrial 2Q Reports Interview with Dave Cook

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

The Woodlands

Houston Airports Flying High

STREAM currently handles more than 120 MILLION SQUARE FEET for our clients from COAST TO COAST.

WASHINGTON, DC

DENVER

SOUTHERN CALIFORNIA

CHARLOTTE ATLANTA FORT WORTH

AUSTIN SAN ANTONIO

DALLAS

HOUSTON

CHANGING the landscape OF COMMERCIAL REAL ESTATE

ATLANTA I AUSTIN I CHARLOTTE I DALLAS I DENVER I FORT WORTH I HOUSTON I SAN ANTONIO I SOUTHERN CALIFORNIA I WASHINGTON, DC WWW.STREAMREALTY.COM

Premium Medical Office/ Retail/Mixed Use Sites available • •

The southern portion of Dallas/Ft. Worth Potential Future Downtown Mansfield, TX

Manufacturing Complex available

102 Sentry Drive North, Mansfield, Texas +/-135,182 SF For Lease • • • • • • •

Leasing Agents Jordan Foster, CCIM MBA, jfoster@peycosouthwest.com Austin Goode, agoode@peycosouthwest.com Jim Maibach, CPM, jmaibach@peycosouthwest.com

Zoned Heavy Industrial with City of Mansfield City Water and Sewer Oncor Electric Natural Gas Service Rear and Side Yards are of Concrete or 6” Rock Base with Fenced Parking for 75 Vehicles New Rooftop For Sale: $4.75 Million or For Lease: $3.25/ SF NNN Peyco Southwest Realty Inc. 1730 North Peyco Drive Arlington, TX 76001-6798 Phone: (817) 467-6803 Fax: (817) 465-7464 www.peycosouthwest.com

P L A T I N U M DELIVERING FEBRUARY 2016

DELIVERING DECEMBER 2015

166,000 SF AVAILABLE

141,000 SF AVAILABLE

LEGACY/PLANO

FREEPORT/LAS COLINAS

F O R M O R E I N F O R M AT I O N , P L E A S E C O N TA C T C H R I S J A C K S O N , R A M S E Y M A R C H , M AT T W I E S E R , O R T I M T E R R E L L AT 2 1 4 . 2 6 7 . 0 4 0 0

Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream has grown from its two original partners to more than 625 real estate professionals nationwide. Stream Realty leases and/or manages more than 120 million square feet of commercial buildings across the nation; completes over $2.4 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest.

ATLANTA I AUSTIN I CHARLOTTE I DALLAS I DENVER I FORT WORTH I HOUSTON I SAN ANTONIO I SOUTHERN CALIFORNIA I WASHINGTON, DC WWW.STREAMREALTY.COM

REDNews

IN THIS ISSUE

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

ROPERTIES FOR SALE/LEASE P 1-3, 4-5, 7-9, 11, 13, 17, 19

21–23, 25, 27, 29

COMMERCIAL SERVICES

Environmental 22 Legal Services 33 Moving & Relocation 33

WHAT’S HAPPENING IN TEXAS CRE

Calendar of Events

24, 26, 28

Networking Photos

25, 27, 29

Deals & Announcements

30 – 32

ARTICLES Building a Texas-Size Pipeline Industrial & Office Market Overviews Houston Airports Flying High The Woodlands Ray’s BUZZ – Interview with Dave Cook & BoyarMiller Recap

4 | REDNews.com

10 12, 14 16 18, 19 20, 21

SHOPS ON THE

MAINLAND

5,500 SF

100000 Emmett F. Lowry Expressway Texas City, TX 77591

CONTACT INFORMATION

PROPERTY INFORMATION • New Power/Entertainment Redevelopment • Current retailers include Cinemark Movies 12, Sears, Palais Royal, World Gym, Olive Garden, Gringos, Beyond Burger, Tuscany Village Salons and Galaxy Nutrition • 7,000 new homes coming to immediate trade area • 3 miles from College of Mainland with over 5,000 students

• •

• • •

PREVIOUS RESTAURANT, BAR & GRILL

Kitchen appliances & some glass ware included, 2 walk-in coolers Located in retail shopping center & within walking distance from 4 hotels: Hampton Inn, Fair Field Inn, Best Western & Holiday Inn Express Directly across from Cinemark Movies 12, Sears, World Gym & Palais Royal Great location for neighborhood pub/ sports bar, beautiful hardwood floors Beer, wine, & liquor license can be obtained

PAD SITES FOR SALE surrounding the mall

PAD SITES

RENT NOW AT YESTERDAY’S PRICES

Parcel #

Size (acres)

Size (SF)

4.0260

175,373

1.1040

48,090

1.0000

43,560

0.6037

26,297

4.4600

194,278

0.7161

31,193

Deanna Jerome (409) 986-7000 (832) 282-8451 mainlandmalltx@gmail.com Press 0 for more information on sales or leasing

CALL TODAY Brokers welcome 6% commission

3.9390

171,583

1.1060

48,177

•

9.3710

408,201

9.6830

421,791

• •

Total

36.0088

1,568,543

16,308 SF

PREVIOUS FURNITURE STORE Great location right in between Sears, World Gym, and Palais Royal Glass front windows and doors Wide open space can be fitted to suit your needs

REDNews.com | 5

REDNews

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

PUBLISHER

PUBLISHER’S LETTER Dear Readers, This month we took a look at the Texas Office & Industrial markets and thank Colliers International & CBRE for graciously supplying us with their 2ndQ 2015 Texas market reports and overviews. Texas has one of the largest industrial markets in the country with 1.4 billion square feet of industrial space. There are, reportedly, 158 industrial construction projects currently underway amounting to 26.5 million square feet. Thirty-six percent of that space is preleased and the bulk of those projects are located in Dallas/Ft. Worth, Houston & Austin. (See Page 10) Although the Houston office market has declined by 35.8% in leasing since the first quarter of 2015 (1.8 million square feet versus 2.8 million square feet), the Dallas/Ft Worth & Austin markets have experienced positive absorption. (See Pages 12 & 14) Next month is the big TEXAS ICSC Retail Focus issue and we’re looking forward to seeing all of you retail professionals in Dallas on November 4 – 6th. Don’t forget to get your ad space reserved! This is our most popular issue of the year and it gets a lot of extra exposure at the conference. Be sure to come by to visit us at Booth #534. Have a fun and safe Halloween! Best Regards,

Ginger Wheless

Ginger Wheless ginger@rednews.com

EDITOR Marjorie Gohmert info@rednews.com

STAFF WRITER Janis Arnold janisarnold1@gmail.com Brandi Smith info@rednews.com CONTRIBUTING WRITER Ray Hankamer rhankamer@gmail.com ART DIRECTOR Payton Watkins payton@camalla.com

DATABASE MANAGER Matt Chisari matt@rednews.com DIGITAL DIRECTOR Laura Salazar digital@rednews.com MARKETING MANAGER Bri Martinez bri@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com

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

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

6 | REDNews.com

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

9595 Six Pines, The Woodlands

26010 Oak Ridge Office Space For Lease

16928 Donwick Industrial Investment For Sale

26010 Oak Ridge Dr., The Woodlands

16928 Donwick Dr., Conroe

9400 Grogan’s Mill, The Woodlands

• 560,000 SF mixed use development • Class A office space above ground-floor retail • Located in the heart of Town Center • Convenient reserved, covered and surface parking • Professional on-site management

• +/- 11,000 SF, Two-Story Office Building • FEATURES: Welcome Lobby, Elevator, Access Key Entry, Interior/Exterior Monitored Security Cameras • Full-Service Lease Rate • Includes Electric, HVAC, & Janitorial Services • Located one block west of I-45 on highly desirable Oak Ridge Dr. • Easy access to I-45 and The Woodlands Town Center

• • • •

• Suites available from 1,347- 4,500 SF • Surface & garage parking available, granite finishes and double glazed ‘E’ glass, back-up generator, energy management system and on-site storage area. • The building features recently updated common areas, including new carpet, wall covering, lights and ceiling tiles • Located in the heart of Town Center

Havenwood Office Park For Lease

Parkwood One For Lease

Timberloch Place For Lease

The Preserve Office Park For Sale or For Lease

25700 I-45, Spring/The Woodlands

10077 Grogan’s Mill Rd., The Woodlands

Single tenant – NNN leased investment 20,000 SF office/warehouse completed in 2013 Long term lease with rent escalations Located in a well-established, light industrial park adjacent to The Woodlands • Within 1 mile of major amenities such as St. Luke’s Hospital, Walmart, Home Depot, Lowes, Lone Star College, Sam Houston University, Woodforest Bank Stadium & Natatorium,among many others

Town Center Plaza For Lease

2002 Timberloch, The Woodlands

25420 Kuykendahl Rd., Tomball/The Woodlands

• 250,000 SF Class A office building, under construction • High-end finishes, designed to be LEED silver certified • Located in between The Woodlands Town Center and Exxon Mobil campus • On-site property management and leasing

• Various spaces available from 981 - 7,839 SF • Located in the heart of Town Center, in close proximity to the Woodlands Mall, • Market Street, The Cynthia Woods Mitchell Pavilion and the Woodlands Waterway • Easy Access to I-45 and the Hardy Toll Road • Parking garage with reserved spaces

• Space available: Suite 300 - 17,815 RSF & Suite 600 - 17,815 RSF with upgraded finishes • Town Center Location and walking distance to The Woodlands Waterway, Market • Street and adjacent to the Cynthia Woods Pavilion • Excellent access - under ½ mile to 1-45

• Located at the corner of Kuykendahl Road and Preserve Way, near Creekside Village • 1,250 SF - 12,500 SF Contiguous space available • Six buildings; one story; total 45,000 SF • High-end finishes including granite, wood floors, and crown molding • Convenient to Grand Parkway and Woodlands Parkway

Vision Park Office Building For Lease

Brownstone Office Condo For Sale or For Lease

Investment Opportunity For Sale

Pines Crossing Office Park For Lease

128 Vision Park, Shenandoah/The Woodlands

25511 Budde Rd., Suite 801, The Woodlands

821 Crossbridge, Spring/The Woodlands

431 Nursery Rd., Spring/The Woodlands

• Three-story, 75,000 SF building, on 5 acre site • On-site property management • Site is less than ½ mile to Interstate 45 • Close proximity to Market Street, The Woodlands Mall and The Woodlands Town Center

• The “Franklin” Building - a great Investment or owner/user opportunity • Approx. 4,500SF, beautiful 2 story Class “A” Office Condo for sale or lease • Plug & play, executive finishes with hardwoods, coffered ceilings, transoms, back-up generator, elevator and front parking spaces. • Convenient to I-45 and the new ExxonMobil campus - in prime location of The Woodlands

• Class A office building, high-end finishes • +/- 7,625 SF building on +/- 30,536 SF Lan • 100% Leased, NNN investment • Just 1 mile south of The Woodlands and Exxon Mobil campus

• Efficient floor plans from 801-1,455 SF • Move in ready • Approximately ¼ mile to access I-45 and 1 mile from Hardy Toll Road • Exceptional nearby amenities on Sawdust Road

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

281.367.2220 jbeardcompany.com This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.

Personalized Service. Proven Results.

www.tarantino.com ASHFORDPROFESSIONAL PROFESSIONAL ASHFORD

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

909 Dairy Ashford Rd, 909 Rd, Houston, TX 77079 Houston, 77079

NANES NANES PROFESSIONAL PROFESSIONAL

17030 Nanes Dr, Dr, Houston, 77090 Houston, TX 77090

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

NORTHGREEN ATRIUM BUILDING 7660 WOODWAY • • • • • •

7660 1300 N. SamWoodway Houston Parkway Houston, 77063 Houston, TX 77032

5507575 GREENS SANPARKWAY FELIPE

7575 San Felipe 550 Greens Parkway Houston, Houston, TX TX 77063 77067

ASHFORD PROFESSIONAL

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

Up toOwnership 4,556 NRA New Available for Lease 1,000-56,000 Five Level, Class B NRA Available Office Building Building Identity Available Renovated in 2014 Beautiful Atrium Property Secured Lobby with Granite by Security Gate & Finishes Card Key Access

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

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

OFFIC E OFFICE • 1,510-2,398 SF Available in • Suburbs Full Building, of the 72,000 NRA Galleria Available for Lease • Common Areas, • Lobby New Ownership & Restrooms in • Remodeled Beautiful Atrium 2015 Lobby, High End • Monument Signage Finishes & Lush Available Landscaping • Numerous Secured Covered Shopping Parking Centers & Restaurants Nearby

• Two Story Medical Office Building • Renovated in 2008 • Up to 2,392 SF

908 908E. E. SOUTHMORE SOUTHMORE

908 E 908 E Southmore Southmore Blvd, Blvd, Pasadena, TX TX 77502 77502

PASADENA PROFESSIONAL PROFESSIONAL PASADENA

3315 Burke Burke Rd, Rd, Pasadena, TX TX 77504 77504

NORTHCHASE BUSINESS NORTHCHASE BUSINESSPARK PARK

14505 14505 Torrey Torrey Chase Chase Blvd, Blvd Houston, TX 77014

1505 HIGHWAY HIGHWAY 66 1505

• 1, 1,117-10,551 117- 8,849 SF Available • Lobby & Common Areas Remodeled in 2014 • Covered two Two (2) (2) story Story parking Parking garage Garage • Located • Located near near the the Energy Energy Corridor Corridor

Personalized Service. Proven Results. 1505 Highway Highway 66 www.tarantino.com Houston, TX TX 77077 77077

• 46,462 SF, Three Story Medical Office Building • 80 Free Surface

908 E. SOUTHMORE

TOWNSHIP TOWNSHIP SQUARE SQUARE

WOODFOREST SHOPPING SHOPPING CENTER WOODFOREST CENTER • Up Up to to 11,017 11,01 7SF SF • Available Available End Cap Cap Available Available • End NWC I-10 I-10 EE • NWC Frontage @ @ John John Frontage Ralston Ralston

10907-11095 I-10 East 10907-11095 Houston, TX 77029 Houston,

RETAIL RETAIL

RESEARCH PLAZA RESEARCH PLAZA

19189 I-45 North 19189 Shenandoah, TX 77385 Shenandoah,

DE DE ZAVALA ZAVALA

12770Cimarron Cimarron Path, Path 12770 SanAntonio, Antonio, TX 78249 San 78249

1005 1005 INDUSTRIAL INDUSTRIAL

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

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

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

• Suite 250: 250- 4,794 • Suite 4,225 NRA Warehouse SF Warehouse & & 2,762 NRA Office 3,336 SF Office Space Available Available Space • Easy Access to Beltway 8, I-45 and IAH • 2 Semi-Dock High Loading Bays • 1 UpRamp Up-Ramp Allowing Drive in Access • Air Conditioned Warehouse

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

1005 Industrial Industrial 1005 Sugar SugarLand, Land, TX TX 77478 77478 CORPORATE OFFICE: WOODFOREST CENTER 7887 SanSHOPPING Felipe, #237 Houston, TX 77063 (713) 974-4292

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

• 3500 SF, Air- Conditioned Space Available • 10,663 SF • Deed Restricted Available Business Park •3 Phase at Power Located the • 18ft Ceiling Height Corner of Fallbrook & Beltway 8 to • Easy Access • Beltway Tilt Wall 8 Construction with Decorative Interior Walls

SAN ANTONIO OFFICE:

3340 FM 3340 FM 1092 1092 Missouri City, Missouri City, TX TX 77459 77459

SUGAR SUGARPOINT POINTSHOPPING SHOPPING CENTER CENTER

9920 Hwy Hwy 90 90 Sugar Land, TX TX 77478 77478

15340 VANTAGE VANTAGE

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

15344 Vantage Parkway E 10930 W. Sam Houston Parkway N. Houston, TX TX 77064 77032 Houston,

AUSTIN OFFICE:

TOWNSHIP 12770 Cimarron Path St. 122 502 East 11th Street, #400SQUARE San Antonio, TX 78249 • Up to 6,845 Retail Austin, TX 78701 Space Available (512) 302-4500 • Up to 11,017 SF 212-6222 (210) Available

• Easy Access to

REDNews

MARKET FLASH

AUGUST 10, 2015

Excerpts from CBRE Texas Market Flash: August 10,2015

Building A Texas-Sized Pipline:

Unique Markets Shaping the State’s Industrial Footprint Texas New Industrial Contruction (excludes Flex)

New industrial construction across Texas remains in full swing as six of its major industrial markets continue to see projects break ground due to overall occupancies being in the high90s. Through Q2 2015, CBRE Research identifies a total of 158 projects currently underway, amounting to 26.5 million sq. ft., of which 36 percent is pre-leased.

(MSF) 16 14 12 10 8 6 4 2 -

Primary Markets

Dallas

Houston Industrial Under Construction

(000’s SF) Secondary & Tertiary Markets 800 700 600 500 400 300 200 100 San Antonio Austin McAllen

El Paso

Industrial Pre-leased Source: CBRE Research, Q2 2015.

Texas has one of the largest industrial markets in the country – weighing in at 1.4 billion sq. ft. – with warehouse and distribution product dominating the existing, and future, inventory which is being driven by the state’s position as a major distribution hub in domestic and global supply chains to major population centers, and with the increased influence from emerging trends such as the ever-expanding e-commerce industry. That being said, market forces are by no means one-dimensional. Each market follows different dynamics that, when combined, create a formidable economic engine for powering the state’s manufacturing, trade and supply-chain industrial sectors. DFW – DISTRIBUTION & RETAIL Home to the largest industrial market in Texas and third in the U.S., DFW is certainly bigger and newer. The Metroplex continues to attract industrial occupiers hailing from the traditional, but also retail distribution and even more contemporary, e-commerce where technology is shaping construction trends. Everything from groceries to back-to-school shopping is seeing more e-traffic. Consider this: of the 7.8 million sq. ft. of current industrial space requirements being tracked by CBRE Research in Big D, the lion’s share is from retail-related tenants. HOUSTON – CRUDE & PETROCHEMICALS Sure, Houston is a global leader in energy, but it is not the only story coming out of the Bayou City. The region is an essential part of trade as home to America’s largest port for international tonnage including such petrochemical products as chemicals, plastics and rubber. Recent initiatives to expand and improve the Panama Canal, and future plans for the Suez Canal will increase traffic at the Port of Houston. And from Beaumont down to Brownsville, the Port of Houston is the largest on 10 | REDNews.com

the Gulf Coast where more than $100 billion in planned and current investment is taking place in petrochemical refining. SAN ANTONIO – CALL CENTER CENTRAL Despite a dearth of industrial pre-leasing, San Antonio’s industrial market has historically weathered new unoccupied deliveries by absorbing the speculative square footage within the span of a few quarters where vacancy is in the single-digits. Flex space rents at a premium for a secondary industrial market where a number of the state’s largest call centers are operating. In fact, Xerox just announced this month plans to hire 400 new employees to its San Antonio call center and IBEX Global expanded earlier this year into San Antonio which will ultimately contain 600 people in its location on Silicon Drive. AUSTIN – TECH & FLEX As the state’s major R&D hub, construction in Austin is on the same trajectory as its booming tech-driven economy. According to the Federal Reserve, Austin’s high-tech industrial production is now 26 percent above its pre-recessionary 2007 level and current construction projects show that the manufacturing and warehouse sectors are firing development, particularly in the Northeast submarket. MCALLEN / EL PASO – MAQUILADORA & AUTOMOTIVE The recent manufacturing activity upsurge in Mexico, largely driven by substantial investments in automotive manufacturing, has trickled positive demand to Texas’ industrial border markets. These markets play a larger role in global supply chain operations as their ports of entry account for more than 81percent of annual trade with Mexico, the third largest trading partner with the U.S.

Source: CBRE Research, Q2 2015.

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REDNews

RESEARCH & FORECAST REPORT

Q2 2015

INDUSTRIAL MARKET AUSTIN

Austin’s industrial market continues to progress as rental rates rise yet again in the second quarter. The citywide average quoted rental rate increased by 1.6% between quarters from $8.21 to $8.34 per sq. ft. NNN, and increased 18.5% on a year-to-year basis from $7.04 per sq. ft. NNN. Vacancy dropped 140 basis points over the quarter from 10.2% to 8.8%, continuing to gradually decrease after a small increase last quarter.

DALLAS

At the end of the first quarter 2015, industrial inventory in the DFW Industrial Market consisted of 751,978,986 square feet in 12,484 buildings. The flex sector has a total size of 116,443,730 square feet in 3,595 buildings, while warehouse represents 635,535,256 square feet in 8,889 buildings. Overall net absorption through the first quarter 2015 within the DFW Industrial Market totaled positive 3,027,905 square feet. Overall vacancy was 8.0%, an increase from the 7.8% overall vacancy rate reported at the end of the fourth quarter2014. There has been 6,266,211 square feet delivered to the market this year.

HOUSTON

During the second quarter, 2.7M sq. ft. of Houston’s industrial inventory was absorbed, substantially less than the 4.3M sq. ft. absorbed in the previous quarter. Industrial leasing activity declined as well, dropping to 3.3M sq. ft., a decrease of 30.0% from the 5.0M sq. ft. leased in Q1 2015. Much of the decline in absorption and leasing activity is due to a lack of available space as Houston has a 4.6% vacancy factor. In addition, only 1.2M sq. ft. of new inventory delivered in the second quarter, which is 25% of the space delivered in the previous quarter. Fortunately, there is 10.6M sq. ft. of inventory under construction and 5.7M sq. ft. is speculative development.

12 | REDNews.com

Colliers International Hannah Tysor, Sr Marketing & Research Coordinator, Houston/Austin Mike Otillio, Director of Research, Dallas Lisa Bridges Director of Marketing Research | Houston

signage

REDNews

RESEARCH & FORECAST REPORT

Q2 2015

OFFICE MARKET AUSTIN

Class A rental rates in Austin’s CBD decreased by 2.5% over the quarter and vacancy increased slightly for the third consecutive quarter as office space continues to deliver. Six buildings totaling 730K square feet were delivered in the second quarter, and 2.2M square feet of office space is currently under construction. Among the projects delivered in Q2 include Capital Ridge, a 217K square foot office development in southwest Austin that is fully leased by Apple, Inc. San Clemente At Davenport also delivered in Q2 and remains only 38.1% leased to Spiceworks, Inc.

DALLAS

At the end of the second quarter 2015, office inventory in the DFW Market Office consisted of 309,218,699 square feet in 4,147 buildings. The Class A sector has a total size of 134,194,460 square feet in 498 buildings, while the Class B and C buildings represent 147,960,375 square feet in 2,583 buildings and 27,063,864 square feet in 1,066 buildings respectively.

HOUSTON

Houston is known as the Energy Capital of the World, home to more than 5,000 energy related companies that make up just over half of the local economy. Houston’s Q2 2015 office market indicators reflect the dramatic drop in oil prices that occurred in Q4 2014 and the subsequent reevaluation and adjustments in growth plans implemented by the “upstream” sector of the energy market. The “mid” and “downstream” players remain very strong but tend to occupy less office space than the “upstream” companies. Houston’s office leasing activity decreased 35.8% between quarters, recording only 1.8 million sq. ft. in Q2 2015. When compared to the very strong 5.5 million sq. ft. recorded 12 months ago in Q2 2014, leasing activity decreased by 67.5%.

14 | REDNews.com

Colliers International Hannah Tysor, Sr Marketing & Research Coordinator, Houston/Austin Mike Otillio, Director of Research, Dallas Lisa Bridges Director of Marketing Research | Houston

BISSONNET SHOPPING CENTER SPACE FOR LEASE/LAND AVAILABLE NEQ Beltway 8 & Bissonnet, Houston, TX 77035 DESCRIPTION: • 2,980 SF In-line Space Available Description (can be divided) DESCRIPTION: 2,980 SF In-line Space Available • • 2,980 SF In-line Space Available • Up to 4.6 Acres of Land for Sale (can be divided) (can be divided)

• Access to Beltway 8 N. Frontage Up to 4.6 Acres of Land for Sale • • Up to 4.6 Acres of Land for Sale

• Access to Beltway 8 N. Frontage Size: 18,050 SF (Shopping Center GLA) • Access to Beltway 8 N. Frontage Size:18,050 SF (Shopping Center GLA

Size: 18,050 SF (Shopping Center GLA) Land: +/-7.22 Acres: Office, Medical, Automotive, Land: +/- 7.22 Acres: Office, Medical, Land: +/-7.22 Acres: Office, Medical, Automotive, Retail, Restaurant or like uses available. Automotive,Retail, Restaurant or like Retail, Restaurant or like uses available.

uses available

8* Bissonnet** TRAFFIC COUNTS: BeltwayBeltway 8* Bissonnet** TRAFFIC COUNTS: TXDOT CoH 2007** 137,000137,000 VPD 44,318 VPD44,318 TXDOT2012*, 2012*, CoH 2007** VPD

DEMOGRAPHICS:

1 mile

2013 POPULATION

2013 POPULATION AVERAGE HH INCOME

28,803

$31,479 28,803 $41,864 30,554 $31,479 101,625

AVERAGE HH INCOME DAYTIME POPULATION

VPD

2 mile

1 mile

30,554

DAYTIME POPULATION

3 mile

5 mile

211,976

510,511

2 mile

104,366

3 mile

5 mile

104,366 $49,803

211,976 $57,212

510,511

$41,864 217,967

$49,803 523,183

$57,212

101,625

217,967

523,183

The information contained herein was obtained from sources deemed reliable; however, Sluco Realty Services makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.

Greg Slusky

Contact:

7713 Janak Dr.

The information contained herein was obtained from sources deemed reliable; however, Sluco Realty Services makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; of price; prior sale or leas Houston, TXchange 77055

7713 Janak Drive greg@slucorealty.com Houston, TX 77055 (713) 443-2860 www.slucorealty.com

Greg Slusky Contact:

greg@slucorealty.com

Greg Slusky

713.443.2860

greg@slucorealty.com

Wolverine Property Management LLC

Cinco Ranch Office

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

Space Available:

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

Property Data/Attributes

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

2013 Total Pop.*

FOR LEASE

2013 Avg. HH Income*

1-mile

3-mile

5-mile

11.857

105.681

202.320

$199,351

$132,960

$124,086

*Demographic Data Source: ESRI 2015 Forecast

Contact: Roxanne Edmond 281.391.9252 Roxanne@wolverinepm.net

REDNews

HOUSTON AIRPORTS FLYING HIGH by brandi smith for rednews

CCIM Houston Luncheon September 10, 2015 Speaker: David Herbert, Communication Director, Houston Airport System PUERTO VALLARTA, MEXICO. SAN JOSE, COSTA RICA. BELIZE CITY, BELIZE.

As of Oct. 15, you’ll be able to travel to those and other international destinations out of William P. Hobby Airport. The new flights out of Houston will mark a significant change for Hobby; barring the exception of Aruba service that started earlier this year, these will be the first international departures from Hobby since George Bush Intercontinental Airport opened in 1969. “The opening of the international concourse at Hobby is obviously a big step forward for us and we’ll celebrate that along with Southwest Airlines,” said David Herbert, communication director for the Houston Airport System, at the CCIM Houston/Gulf Coast chapter luncheon on Sept. 10.

Millions of annual passengers and hundreds of daily flights requires thousands of employees. The airport system has roughly 1,300 to manage, but that doesn’t include all of the people who work on airport property. “They may sell coffee. They may work with the TSA. They may work with the airlines,” Herbert said. “It is tens of thousands of people who work at the airport setting.” Those jobs have a big impact on Houston’s economy, as do the tourist dollars that fly into town each day. “It really is a trickle effect that impacts a billion-dollar industry,” boasted Herbert. Herbert says he anticipates IAH will leave an even bigger economic footprint once construction is complete on its new international terminal building. Right now, approximately 10 million out-of-country passengers touch down at Bush Intercontinental each year, roughly 25 percent of the airport’s traffic. Herbert says that’s

why it needs a true “gateway-to-the-world type of facility.” “Terminal D, which is also known as the Mickey Leland International Terminal, really is in need of substantial work,” Herbert said. “We’re taking the approach that the best thing to do is completely knock it down, start from scratch and build a facility that reflects Houston’s standing as an international city. There are quite a few hurdles to clear before construction starts, however. United Airlines is in the process of building Terminal C North, which needs to be complete before Terminal D’s demolition. “There’s a lot of coordination and planning that has to take place,” Herbert explained. “We believe the new international terminal will start being constructed in 2017 and we’re looking at a completion date somewhere in 2022.” “The way Houston is growing and how important it is on the global stage, this new building is absolutely essential to future growth for the airport and for the city of Houston,” said Herbert.

Open walkways inside the terminal

“IAH is the eighth busiest airport as far as operations,” Herbert said. “Hobby Airport is in the mid-30s range.” It may sound cliché, but things are really taking off for Houston’s airport system—literally and metaphorically. In addition to those new international destinations, the agency is celebrating record passengers traveling through Hobby and Bush Intercontinental airports and new partners are jumping on board.

The proposed entryway to terminal D

“No matter where you turn, there’s something going on. It’s pretty exciting and it’s all tied to the growth that we’ve seen in recent years,” said Herbert. “We’re hitting unprecedented activity levels.” In 2014, more than 53.1 million air passengers took off from, landed in or transferred through Houston, a staggering number. Airport managers know that total will continue to grow as Houston’s population does. The airports, though, aren’t simply complementary features of a bustling metropolis; they’re also contributors.

16 | REDNews.com

Terminal D with natural lighting

The open ticketing area in the lobby of the terminal

Credit: Houston Business Journal

The flights are the result of a massive effort to build a new international terminal at Hobby. The $156 million project covers a 280,000-squarefoot building, new and expanded Southwest Airlines ticket counters and five new gates. That’s in addition to Hobby’s already bustling terminals.

“We did an economic impact study in 2010 and found that the economic impact for the entire Houston region is $27.5 billion,” said Herbert.

Halbouty Halbouty Center Center OFFICE SPACE 5100 OFFICE OFFICE SPACE Westheimer 5100 Westheimer FOR LEASE FOR LEASE Houston, FOR Houston, TX TX 77056 77056

Hard Corner Pad Site

NEC of Kuykendahl & Louetta

Spring, Texas 77388      

Title Sponsor

 

Hard Corner Pad SiteNet Proceeds Benefit

NEC of Kuykendahl & Louetta  Spring, Texas 77388 

Building Features Features Building Building Features

On-sitecourtesy courtesy guard guard On-site On-site guardoffice On-sitecourtesy management On-site management office On-site management office Fivestory story atrium lobby lobby with beautifully beautifully Five atrium with Five story atrium lobby with beautifully appointed interiors appointed interiors appointed interiors access to restaurants, Excellentpedestrian pedestrian Excellent access to restaurants, Excellent pedestrian access to restaurants, banks,and and hotels in in the the Galleria Galleria area banks, hotels area banks, hotels3/1000 in the Galleria area Garageand Parking, Garage Parking, 3/1000 Garage Parking, 3/1000

Suite 585 Suite 585

4,159 SF 4,159 SF 4,159 SF

For More More Information: For Information: For More Information: Robyn Berry

CENTRAL CENTRAL BUSINESS BUSINESS CENTRAL DISTRICT DISTRICT BUSINESS DISTRICT

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Janae Evans, Evans, SIOR Janae SIOR Janae Evans, SIOR 713-621-3999 713-621-3999 713-621-3999 Janae@evtex.com Janae@evtex.com Janae@evtex.com

Robyn Berry Robyn Berry 713-629-5535 713-629-5535 713-629-5535 Robyn@evtex.com Robyn@evtex.com Robyn@evtex.com

Evtex Companies Companies Evtex 9601 Jones Jones Road, Evtex Companies 9601 Road, Ste. Ste. 239 239 Houston, TXRoad, 77065 9601 Jones Houston, TX 77065Ste. 239 The information herein has been obtained from sources believed reliable. While we do not doubt itsHouston, accuracy, we have not verified it and make no guarantee, warranty or representation TX 77065 The information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation

about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinion, assumptions or estimates used are for example only and do not repreabout it. Itcurrent is yourfuture responsibility to independently confirm its accuracy completeness. Any projections, assumptions or estimates are forbyexample only and do and not represent the performance of the property. value of thisand transaction to you depends tax opinion, and we other factors which should beused evaluated your tax, financial, legal The information herein has been obtained from sourcesThe believed reliable. While we do not doubt its on accuracy, have not verified it and make no guarantee, warranty or representation sent the current future of the property. The value of this transaction to you depends on to tax and otherthefactors which should be evaluated by your tax, financial, and legal advisors. You and yourperformance advisorstoshould conduct aconfirm thorough investigation of this suitability of estimates the property forare your about it. It is your responsibility independently its independent accuracy and completeness. Anyproperty projections,determine opinion, assumptions or used forneeds. example only and do not repreadvisors. You and your advisors should conduct a thorough independent investigation of this property to determine the suitability of the property for your needs. sent the current future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a thorough independent investigation of this property to determine the suitability of the property for your needs.

AOad_October2015_3.9x4.7.indd 1

9/16/2015 3:05:27 PM

HARD CORNER

SHOPPING CENTER COMING SOON NEC of Kuykendahl & Louetta, Spring, TX 77388 dESCRIPTION: • For Ground Lease or Multi-Tenant dESCRIPTION: • Description Ground Lease for a Single User • For Ground Lease or Multi-Tenant

• Landlord will build for Multi-tenant For Ground Lease or Multi-Tenant • • Ground Lease for a Single User • Ground Lease for a Single User

• Call for Pricing • • Landlord will build for Multi-tenant Landlord will build for Multi-tenant • Call for Pricing

• Call for Pricing Size: 30,057 SF of Land Size: 30,057 SF of Land Size: 30,057 SF of Land

Kuykendahl TRAFFIC COUNTS: Kuykendahl Louetta TRAFFIC COUNTS: TXdOT TXdOT

Louetta

34,720 34,720 VPd 37,314 VPd37,314 VPd

DEMOGRAPHICS:

1 mile

2014 POPULATION

12,851

DEMOGRAPHICS: 2014 POPULATION

AVERAGE HH INCOME

AVERAGE HH INCOME dAyTIME POPULATION dAyTIME POPULATION

2 mile

1 mile

44,980

$107,955 9,973

9,973

3 mile

5 mile

98,788

236,012

2 mile

12,851 $106,696

$107,95533,457

VPd

44,980 $100,413

3 mile

5 mile

98,788 $92,910

236,012

$106,696 81,288

$100,413 199,252

$92,910

33,457

81,288

199,252

Contact:

Greg Slusky

7713 Janak dr.

The information contained herein was obtained from sources deemed reliable; however, Sluco Realty Services makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; of price; prior sale or lease; or withdrawal without notice. Houston, TXchange 77055

Greg Slusky Contact:

greg@slucorealty.com

7713 Janak Drive greg@slucorealty.com Houston, TX 77055 (713) 443-2860 www.slucorealty.com

Greg Slusky

713.443.2860

greg@slucorealty.com

7713 Janak dr. Houston, TX 77055 713.443.2860

Hughes Corporation’s development of Hughes Landing on Lake Woodlands, a 66-acre mixed-use development

The

WOODLANDS

hen oilman George Mitchell purchased 50,000 acres of land from Grogan Cochran Lumber Company in 1964, it was widely known what he intended to do with it: build one of America’s master-planned communities. “When they took the trees down and bulldozed an area for Woodlands Parkway, we all knew it was going to be,” says Conroe native Nelda Luce Blair to the group gathered for September 2nd CREW Houston luncheon. “The local folks called it ‘Mitchell’s Folly.’” In 1972, Mitchell was awarded a $50 million Housing Act loan for his project. (As a sidenote, The Woodlands would become the only loan-guarantee project under the Housing Act that did not default on its loans.) When homes became available for sale in 1974, they sold for as little as $49,999 as critics watched and waited for the development to fail. It didn’t, but it didn’t exactly thrive either. Mitchell didn’t give up; he added amenities to the community to draw more people to what was then a distant drive from Houston. In 1985, Lake Woodlands was filled. The Cynthia Woods Mitchell Pavilion, named for Mitchell’s wife, opened five years later, bringing with it performances by the Houston Symphony, popular musicians and other events. “They built it before there were people to come there,” says Blair. “George and Cynthia Mitchell had a vision for all of The Woodlands, but particularly for the pavilion.” 18 | REDNews.com

How One Man’s Vision Set the Standard for Master-Planned Communities

The Woodlands Mall opened its doors in 1994, followed two years later by the town’s first movie theater. By 1997, The Woodlands reached a population of 50,000 but was still largely considered a bedroom community for America’s fourth largest city. “We decided we were going to make The Woodlands a destination,” Blair says of her attitude when she joined the town’s newly formed Convention and Visitors Bureau. The effort started with an ad in Continental Airlines’ in-flight magazine, which came with a hefty price tag. “It took our breath away because we didn’t have the money,” remembers Blair. “But we made it happen.”

The efforts started to pay off as more people began visiting The Woodlands and a percentage ended up moving there. “When I was the chairman, I gave welcomes to hundreds of groups - anywhere from 20 people to 2,000. Every time I would say, ‘Welcome to The Woodlands. For those of you who are visiting, we’d love for you to spend money. And for those of you who will be my new neighbors in the future, welcome to The Woodlands, your new home,’” Blair recalls. “People would laugh, but year after year, people [from those groups] would come up to me and say, ‘I moved to The Woodlands. I’m one of your new neighbors.’” A new kind of neighbor started showing up too: companies. More than 100 corporations are now headquartered in The Woodlands. These aren’t tiny mom-and-pop shops either; Chevron Phillips, Anadarko Petroleum Corp., Huntsman Corp., Baker Hughes, McKesson Corp., Maersk Line and CB&I are just a few that call the township home. “The Woodlands is now a global name. You ask in Dubai, they know where The Woodlands is,” says Blair. “But it didn’t happen by accident. We did that on purpose.”

Credit: Mitchell Historic Properties

Credit: The Woodlands Today

by brandi smith for rednews

As more visitors flood The Woodlands and spend their money at the mall, in restaurants and on hotels, sales and hotel taxes have skyrocketed.

The late Cynthia Woods Mitchell and George Mitchell pictured in front of The Tremont House prior to its restoration. The Mitchells converted this 1879 dry goods warehouse into a hotel named The Tremont House.

“We’re talking about conventions from New York. We’re talking about family reunions from California. We’re talking about folks from Louisiana coming over for the Renaissance Festival,” says Blair. Those out-of-town dollars go straight into the local coffers. Continued on page 19

In 2015, the township anticipates roughly $50 million in sales tax revenue. Compare that to barely more than $5 million in 2001. Hotel taxes have seen similar growth, from less than $1 million in 2001 to more than $7 million this year.

Sales Tax

Property Tax

2001:

$5 million

2005:

$50 million

Decrease from $32.80/$100

$25/100

That increased revenue has another bonus: lower property taxes. In 2005, Blair estimates 90 percent of the township’s budget was generated by property taxes. But over the past five years, the tax rate has dropped from $32.80 per $100 valuation down to $25. “There are folks who say, ‘No more events. We don’t like all those people. It creates too much traffic,” Blair says. “We have to communicate the economic story that that’s how we keep our quality of life. It’s how we keep our amenities and property taxes low.” Blair says Houston’s other outlying communities can take a lot of lessons from The Woodlands and how the township has managed its growth. “As long as we have some type of balance, then we’ll continue to do that as we blast forward,” says Blair. However, she admits, it would be hard to create another community like The Woodlands. “[It was] just a situation where all of the stars aligned,” Blair says. “We had an incredibly visionary developer, the time was right and the land is beautiful.”

GREAT LOCATION & SPACE!

Learn more about Nelda Luce Blair at www.NeldaBlair.com.

10190 Katy Freeway • • • •

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• • • • •

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Ready to move-in Executive suites Size: 124 SF Term: month to month Includes: Internet, kitchen, furniture. SUITE 228 1,716 NRA

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freestanding retail/restaurant/medical/office

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NEW TRADER JOE’S COMING SOON - LOCATED RIGHT NEXT DOOR

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RAY’S BUZZ INTERVIEW WITH DAVID COOK Ra y rha Ha nk nka am m er@ er gm ail .co m

REDNews

for 33 years and Bonnie Mitchell and I ments no matter if it’s acquisition, disposition, joint Can you give our readers a little backhave worked together almost 20 years. venture, corporate services, or assistance needed ground on how you came to be a commerwith environmental, legal, etc. I can say that the Corcial real estate (CRE) broker, and what was An iconic Houston businessman who porate Services requirements are mostly disposition. your early career path, including mentors was prominent when I was starting out and other contributors to your “seasoning” named David Bintliff once said that How did you navigate the real estate dein the business? When did you join Cushman pression and survive in Houston in the ‘80s? & Wakefield? Probably the lion’s share of brokers working My career has always been commercial real estate, starting with a summer job working in the back office where the plant was located for Houston ABOUT DAVID COOK Title Company. Instilling in me the importance of David Cook is an Executive Vice President and shareholder with focusing on client service, my mentors were my Cushman & Wakefield (C&W). He brings more than 40 years of real estate experience to solving a broad range of his clients’ father, who was both an attorney and a Realtor, and requirements. Mr. Cook specializes in the sale and leasing of Howard Horne, who I began working with in 1967. I commercial, industrial and investment real estate, and has been the started at Cushman & Wakefield in March of 1990. Account Director for nine major corporations, assisting them with transaction management for their national or global portfolios. Dave, we met and did business back in the mid-‘70s when we bought a retail/office WORK EXPERIENCE In 1990, Mr. Cook joined C&W where he rapidly became one of the mixed use site from your client on Fannin company’s top brokers. Throughout his career, he has completed near the Medical Center, and since then I more than 4,445 assignments valued in excess of $4 billion. have watched you achieve prominence in Assignments Mr. Cook is involved in include: site acquisithe brokerage profession to the point that tions and dispositions, investment sales, industrial leasing, I would put you at the very top of Houston high-profile land sales, 1031 exchanges, and conventional commercial real estate brokers. Do you and sealed bid sales. have any idea of the total dollar volume of real estate transactions you have been a part of during your career? today were not here for that Armageddon, I would estimate the number more than $4.3 billion. “The three best ways to get business are 1) to ask for it 2) to ask for it and but some fear with plummeting oil & gas prices and CRE overbuilding we are heading What is your main focus: land or developed 3) to ask for it.” Do you have anything to add to that as to brokers getting for another one. Can you compare “then” property? business? What advice would you give and “now”? Our 10-member team allows us to be very diveryoung brokers about building their Some of our best years have been the “down” years. sified. We are considered “the office within the client base, especially when they are Clients may have more requirements with added office.” The team is comprised of Jeff G. Peden, young and all the clients already seem complexity resulting in increased broker assistance. Will Condrey, Scott E. Miller, Bill Romane, Deedee to have relationships with older broWhat should increase during down times is creativity Hildebrand, Connie K. Lewis, John M. Williamson, kers? —and it was in one of the down cycles that I began Bonnie Mitchell, Pamela Thomas and myself. We There is no substitute for “cold calling,” keep- working on broker-led Corporate Services Accounts. focus on: acquisition/disposition of land, industrial ing in mind it is possible to convert a “cold” properties, small office buildings, income and user Your long-time colleague and former protégé call to a “warm” call by utilizing listings, properties and corporate accounts. at Cushman & Wakefield, Kelley Parker, recommendations and referrals. told us that long ago you and he “divided What sets our team apart are a couple of differences: About what percentage of the time the city” with your taking West of Main 1. We work on all assignments together—a true have you represented sellers, and Street and his taking East. What trends do team effort. what percentage have you represented you forecast on each side over the next ten 2. Seniority. We have a team total of over 224 years of real estate experience. As an example, buyers, and what advice can you give years? to young brokers in this regard? For Houston, and the greater Houston area which Jeff and I have worked together for 18 years, I don’t know that I can come up with a numnow stretches 25-30 miles in every direction, there is Connie Lewis and I have worked together ber. Our goal is to meet the clients’ requiregrowth in all sectors of the city. Houston is blessed 20 | REDNews.com

with a strong downtown and other healthy sectors such as the ship channel, the Texas Medical Center and the Galleria. We are seeing rapid densification of the CBD and the west side with 4-8 story multi-family replacing two story garden-style, and lots of concentrated mixed-use development. This, coupled with the boom in high-rise living and soaring population growth, is creating jammed streets and freeways. What direction do you see public transportation taking in the near future, besides the proposed protected bike routes, light rail expansion, and bus network reorganization? Subways? Commuter trains? For out of the box thinking, I read just recently that one South American capital has concluded an agreement with an Austrian manufacturer of ski gondolas to install a cable car network to move people around town. If you compare Houston to other major global cities, they all come to a critical congestion point. Houston has been behind the curve in providing public transportation, but I believe that we will get there. Last but NOT least, what are you doing for fun? Are you considering retirement or scaling back any time soon? What do you do to get away from the pressures of the real estate world? If you do what you enjoy, then it is fun. So retirement won’t happen as long as I enjoy providing a service to clients and enjoy the people with whom I interact. Balancing any real estate pressure comes from time spent with my wife, Kitty, the grandkids, and tending to the Longhorn cattle at our farm in Cat Spring. And, we also take continuing education classes at Rice University.

Offering Properties & Hotel Consulting • Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide • Hotel/Retail/Restaurant/Office Sites - League City, TX • Knights Inn/100 Rooms - Victoria, TX

Contact: Ray Hankamer

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The Houstonian - September 15,2015 Three panelists gave views on where the capital markets are today, each from his own perspective. Although the discussion dealt with capital markets in general and not commercial real estate(CRE) in particular, astute CRE professionals can forecast what effect capital market trends will have on employment, job creation, homebuilding / land sales, retail, office leasing, industrial expansion, medical, and so on.

Drew Kanaly-Kanaly Trust:

• There is ongoing stock market volatility, with market pricing in general still extended • The credit spread is widening, and this is bad for stocks • The commodities ‘super cycle’ is over across a broad spectrum, as global demand eases-this is an early indication of a slowdown • The stock market may have yet another bottom to test • This is a time for caution

Colt Luedde-GulfStar Group:

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

Sergio Pineda 40 Years Experience As sergpineda@aol.com Developer | Owner | Operator

(713) 922-8075 • www.hankamer.com 13) 789-7060 www.hankamer.com

• Increase in business owners selling their businesses, looking for the ‘right’ timing-timing is everything as to whether seller gets a good price or an excellent price • Now is a good entry point for the investors who are waiting on the sidelines to ‘get into energy’-or not…maybe they should wait another 6-9 months-maybe there has not yet been enough pain in the energy markets to yield the lowest prices • Mergers & acquisitions (M&A, i.e. consolidation) going robustly in small and medium size businesses, with capital available-investors are looking for growth vehicles-[by consolidating often the resulting company is more efficient although sometimes M&A results in jobs

H & B

becoming redundant] • We are in 6th year of strong M&A market • Upstream M&A deals are hung up right now with buyers, sellers, and lenders ‘waiting to see’ • There is lots of private equity out there waiting to deploy • S&P 500 companies collectively have a lot of cash/liquidity • In many cases banks, who are saddled with regulatory costs, are often being outbid by private lenders not burdened by regulatory issues

Brandon Annett-Texas Capital Bank:

• Banks are in a positive mode and looking for growth • US companies are healthy and still growing, although growth rates have slowed • We have low unemployment and a strong dollar • Unknowns in Chinese economy equal uncertainty here • Office leasing is slowing • Bank lending is open to well-structured deals • As energy margins decline and hedges roll off toward the end of this year, look for M&A and severe retraction in that industry • Look for lots of M&A activity toward the end of the year • Lots of capital on the sidelines for energy opportunities • There is fierce competition for high quality loans • Refinancing has slowed down since much of it has already been done at lower rates • Leveraged lending down due to higher regulatory supervision, and there are higher equity requirements • Lending from non-bank (non-regulated) sources is increasing

By Ray Hankamer rhankamer@gmail.com

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C A N C A L E N D A R

A N N O U N C E

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

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

N E T W O R K

CENTRAL/SOUTH TEXAS

October

2015 Sunday

Monday

Tuesday

Wednesday

Thursday 1

IREM San Antonio

Friday 2

Saturday 3

Board & Committee Chair Luncheon 11:30am-1:00pm

BOMA Austin

Executive Committee Meeting 11:30am-1:00pm

CTCAR

Commercial Event in Killeen, TX 11:30am-4:00pm

CREW Austin Network Convention & Marketplace All Day

CREW Austin

Network Convention & Marketplace All Day

IREM Austin CPM Capstone Track 8:00am-12:00am

6 IREM Austin Board & Committee Chair Luncheon 11:30am-1:00pm RECA Christmas in October Committee Meeting 12:00pm-1:00pm

13 IREM Austin Monthly Luncheon 11:30am-1:00pm CREW San Antonio October Luncheon 11:30am-1:00pm

20 CREW Austin Annual Meeting & Elections 11:30am-1:00pm

CCIM Governance Meetings

26 IREM Austin iPAD - A Real Estate Tool Class- 2 Hour MCE 11:00am-7:00pm CCIM Annual Conference CCIM Governance Meetings

27 CTCAR CCIM Thrive Conference 7:00am-2:00pm CCIM Annual Conference CCIM Governance Meetings

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

IREM Austin Golf Outing 12:00am

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

15 BOMA Austin BOMA Austin Shoot Out 1:00pm

RECA October Ideas Forum 11:15am-1:00pm

RECA Christmas in October 8:00am-12:00pm

CREW San Antonio Hotel Emma Site Tour All Day

CTCAR MCE Course ‘Broker Responsibility Course’ 9:15am- 4:15pm RECA City of Austin Policy Committee Meeting 12:00pm-1:00pm CREW San Antonio Museum Reach Barge Tour All Day

RECA Knockout Night Committee Meeting 12:00pm-1:00pm

CREW Austin CCIM Thrive Conference 7:00am-2:00pm CCIM Annual Conference CCIM Governance Meetings

RECA Charity Golf Classic 11:00am-6:00pm CCIM Annual Conference

CCIM Annual Conference

Commercial Organization Contact - Austin | San Antonio | Rio Grande Valley BOMA Austin....................................... bomaaustin.org CCIM................................................. ccimtexas.com CREW Austin....................................... crewaustin.com CREW San Antonio........................ crew-sanantonion.org

CTCAR. . ............................................. ctcaronline.com IREM Austin........................................... iremaustin.org IREM San Antonio............................. iremsanantonio.org RECA . . ............................................... recaonline.com

For more information log onto

NETWORKING CREW San Antonio - CREWtini 2015

Clockwise from Top Left: CREW SA Board of Directors President Carrie Caesar with UTSA student volunteers CREWtini Judges Kim Ghez, Carrie Caesar, Debra Cesaro, and Sam Lampe

CREWAustin RECA San Antonio – August August Networking Luncheon Happy Hour

From Left: Ward Tisdale, Elaine Hawk Omar Hossain, Tala Matchett, Cara Lyons Jesse Van Wick, Jesse Malone Mitchell Wright, Jim Schissler

Thanks to everyone who attended the August networking happy hour, and a special thank you to SafePlace for sponsoring!

CREWAustin RECA San Antonio – REAL August YP Recruitment LuncheonParty

From Left: Congratulations to Zachary Warren for winning a free RECA Ideas Forum Luncheon ticket! REAL YP Attendees Congratulations to Ben Fuller for winning a gift certificate to Corner at the JW Marriott Austin!

Thanks to everyone who attended the REAL YP Recruitment Party! For RECA members between the ages of 22ish to 35ish, RECA REAL YP events are free to attend.

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

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

NORTH TEXAS

October

2015 Sunday

Monday

5 BOMA Dallas BOMI Course: HP Sustainable Building Practices - Accelerated 9:00am-4:00pm ULI North Texas ULI Fall Meeting All Day

Tuesday

BOMA Fort Worth Monthly Luncheon at Petroleum Club 11:30am-1:00pm BOMA Dallas Focus Group Sessions 8:30am-4:00pm ULI North Texas ULI Fall Meeting All Day CREW Dallas CREW Connect Downtown Luncheon 11:30am-1:00pm

13 BOMA Dallas Fort Worth CREW Committee Meeting CREW Connect North Memebership Dallas Breakfast 12:00pm 8:00am-9:00am

P OPPORTUNITIES

CTCAR Commercial Event in Killeen,TX 11:30am-4:00pm

BOMA Dallas Fall 2015 Adopt a Block 8:30am-5:00pm

ULI North Texas ULI Fall Meeting All Day

CREW Dallas CREW in the Community Annual Night of Awareness on Violence Against Women and Stalking TBA

CREW Dallas CREW Connect Downtown/ Uptown Happy Hour 5:30pm-7:00pm

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

ULI North Texas ULI Fall Meeting All Day

Saturday

NT CCIM Sporting Clays TBA

BOMA Fort Worth Committee Meeting Memebership 12:00pm

Friday

BOMA Dallas Allied Council Panel: Meet the Hines Team 10:45am-1:00pm

NAIOP North Texas Annual Golf Tournament 12:00pm

Thursday

BOMA Dallas Luncheon Sponsored by The Brickman Group 11:00am-1:00pm

CREW Dallas SMU/CREW Leadership Series 8:30am-12:30pm

BOMA Fort Worth CSC Meeting 11:30am-1:00pm BOMA Dallas Top Golf Bay Sponsorship 5:00pm-9:00pm NT CCIM Luncheon at Park City Club 11:30am-1:00pm

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

Commercial Organization Contact - Dallas | Fort Worth BOMA Dallas...................................... bomadallas.org BOMA For t Wor th............................... ccimfor twor th.org CREW Dallas ...................................... crew-dallas.org

ponsorship now available!

pany looking for recognition in the al estate industry?

Wednesday

NAIOP Nor th Texas......................... nor thtexasnaiop.com NT CCIM..................... chaptersdev.ccim.com/nor thtexas ULI Nor th Texas.................................. nor thtexas.uli.org

For more information log onto commercial real estate women

North Texas

NETWORKING CREW San North Texas Antonio CCIM Topgolf August Competition Luncheon

From Left: North Texas CCIM hosted a successful Topgolf Competition Event participants smiling for a photo during the event The fun event took place at Topgolf The Colony

NTCAR 2015

From Left: Mandy Owens & Joyce Watson, showing off their Weitzman Cencor giveaway REDNewsâ&#x20AC;&#x2122; marketing girls having fun at one of the photo booths! Corgan Inc. team enjoying a great evening at NTCAR

CREW San Younger Partners Antonio- August July and Luncheon August Birthdays

From Left: Celebrating July & August Birthdays Younger style! Sean Dalton, Moody Younger, Carolyn Fackler, Kathy Permenter, Claudia McLeod, & Trae Anderson

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

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

SOUTHEAST TEXAS

October

2015 Sunday

Monday

Tuesday

Wednesday

Thursday

Friday 2

5 BOMA Houston RPA/Fma CourseEnviromental Health and Safety Issues TBA

12 CREAM Houston Luncheon- Judge Craig Doyle 11:00am-1:00pm

BOMA Houston 2015 Golf Classic 8:00am-2:30pm

CREW Houston Annual Business Luncheon & Economic Forecast 11:15am-1:30pm

CCIM Houston Rebuilding Houston Community Project 7:30am-5:00pm

RICH W.I.R.E- Women in Real Estate 7:00pm-8:45pm

CREW Houston Live, Work, and Play on Post Oak 4:30pm-6:30pm

IREM Houston IREM Food Fest: Social Cook-Off and Fundraiser 4:00pm

HRBC Senator John Cornyn TBA

Land Advisors Land/Housing Forecast 3:00pm

BACREN Luncheon 10:30am-1:00pm

FBSCR Meeting 8:00am-9:00am BOMA Houston 5th Annual Texas Gulf Coast Energy Summit 8:00am-6:00pm IREM Houston IREM Fall Leadership Conference Real Estate Center MCE 7:30am

BOMA Houston Leadership Lyceum Program 8:30am-10:00am ACRP Houston Cocktails/Networking 5:00pm-7:00pm

CCIM User Decision Analysis for Commercial Investment 8:30am-5:30pm

O’Connor & Associates Apartment/Multi-Family Forecast Luncheon 11:30am-1:00pm IREM Houston IREM Fall Leadership Conference Real Estate Center MCE 7:30am

RICH Breakfast Networking 7:00am-8:30am

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

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

CREW Houston Convention Dine Around All Day

Saturday

IREM Houston IREM Fall Leadership Conference

ULI Houston Luncheon 11:30am-1:30pm IREM Houston Real Estate 101: Escalations Edition 9:00am-11:15am Your real estate

deserves real management.

Count on a CPM® professional to deliver real results.

Commercial Organization Contact - Houston and Vicinity | Galveston ACRP Houston............................................... acrp.org BACREN . . ................................................ bacren.com BOMA Houston............................ web.houstonboma.org CCIM Houston ................................... ccimhouston.org CREAM Houston ...................................... creamtx.com CREW Houston .. ................................ crewhouston.org FBSCR....................................................... fbscr.com HRBC.............................................. houstonrealty.org

CPM IREM Houston...................................... iremhouston.org turn to a CERTIFIED PROPERTY MANAGER (CPM ). O’Connor & Associates............................ poconnor.com To find a CPM A CPM has: RICH...................................................... richclub.org in your area, visit Demonstrated experience in building value ULI Houston.......................................... houston.uli.org www.irem-dallas.org Pledged commitment to the highest ethical For optimal returns on your real estate portfolio,

z z

standards Proven expertise in maximizing returns

For more information log onto

IREM AUSTIN PRESENTS Networking

Educat ion

Technology

NETWORKING CCIM Houston September Luncheon

From Left: Attendees networking at the successful event Rodney Harris, Hines and Laura Salazar, REDNews Speaker, David Hebert, Director of Communications and PR for the Houston Airport System

CREN September 2015 Luncheon

From Left: Event speaker, Kenneth Katz, Baker Katz Mark E. Rafail, and Matthew Wadyka, Rafail Insurance Group Danny Kuperman (right), American Realty Group and guest

Tarantino Properties - Houston Apartment Association Career Fair

From Left: Tarantino Corporate Recruiters, Chantal Diome and Lauren Cotrell, talked to attendees about their open positions Chantal Diome and Mena Gonzales

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

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

DEALS & ANNOUNCEMENTS

Longbow Real Estate Group of Austin has hired Eddie Karam as a broker associate.

Central/South Texas Austin/San Antonia Areas

Eddie Karam

AUSTIN, TEXAS

Travis Wright has joined Peloton Commercial Real Estate San Antonio as an associate

Travis Wright

San Antonio, Continued

Industrial Construction: Trammell Crow Company (TCC) & Clarion Partners sold 6.78

acres for Expo 12 to a private investment company who is leasing a 57,600 sq. ft. buildto-suit building to Excel Filters Inc. The building will be located in Expo Business Park at 6231 E. Stassney Lane. Mark Emerick, John Barksdale, Ace Schlameus & Darryl Dadon with CBRE represented both TCC and Excel Filters.

Multi-Family Construction: Chicago-based AMLI Residential will build 318 units at Mueller near the Aldrich Street town Center in Central Austin and Charleston, SC- based Greystar will build 201 units nearby for the 55-plus age market. Both projects will be configured in 4-story buildings.

Multi-Family Sale: Weinstein Properties purchased Springs at Tech Ridge, a 342-unit

project located just east of I35 at 1200 East Parmer Lane. The project received 27 offers and was brokered by Institutional Property Advisors (IPA), a division of Marcus & Millichap.

Office Construction: California-based Apple Inc has developed 38 acres at West Parmer Lane & Delcour Drive. The office complex will include 1.1 million sq. ft. and is Apple’s second-largest operation in the world.

Office Lease: New York-based TechSpace Holding Company will operate in 28,000

sq. ft. on the first & fourth floors of San Jacinto Center, at 99 San Jacinto Blvd. They will provide 24 private suites with 25-sq. ft. as a co-working space with event space on the first floor.

Office Construction: Galleria Venture is building Vista Corporate Center, a five-story,

158,000 sq. ft. office development at the SEC of Loop 1604 & 1-10 corridor at 13801 I10. The site will neighbor Fulcrum Development’s Landmark One office building which will break ground later this year.

Retail Construction: Cencor Realty Services has completed a 12,000 sq. ft. Parkway Oak retail center located at the SWC Wurzbach Parkway & Blanco Road on a former WalMart out parcel. The center has signed Bahama Buck’s, Sport Clips, AT&T & Texas Urgent Care, leaving only 4,000 sq. ft. available.

Office Sale: Laguna Beach, CA-based Domin Investment Group (DIG) purchased Parkway Plaza, a five-building, 189,388 sq. ft. complex located north of San Antonio International Airport, adjacent to the newly completed Wurzbach Parkway.

Office Sale: Tryperion Partners & Goodstone LLC purchased Network Tech Center, an

84,505 sq. ft., three-building office park in University Business Park located at NW Parkway & Silicon Drive. Todd Mills of CBRE represented the seller and Lindsey Tucker & Carl Salvato with CBRE have been awarded project leasing services.

SAN MARCOS, TEXAS

Office Lease: GLG (Gerson Lerhrman Group Inc) has signed a new long-term, 41,803 sq.

ft. lease at 301 Congress Avenue. Jerry Frey with CBRE Austin and Robert Meyers & Gary Kamenetsky with CBRE New York represented the tenant. David Putman, Bart Matheney & Chad Barrett with Aquila Commercial represented the landlord.

Office Sale: Maryland-based Moore & Associates purchased Westlake Place , a

60,338 sq. ft. building, located at 1515 S. Capital of Texas Highway. The seller was a “California-based partnership.” CBRE brokers Walter Saad, Cathy Nabours & Logan Reichle represented the sellers.

Office Sale: The office building 2550 S. IH-35, a 16,200 sq. ft. building sold in South Austin. Commercial real estate firm ECR handled the lease-up of the building as well as the sale.

Office Sale: KBS Real Estate Investment Trust III acquired 515 Congress, also known as

the Bank of America Center, a 26- story, 258,176 sq. ft. building located in downtown Austin.

Office Sale: AFIAA Swiss Foundation, an investment entity of 40 Swiss pension funds,

purchased the 501 Congress Building in downtown Austin. The 116,000 sq. ft. building includes a newly constructed parking garage. The building was a five-story annex to the adjoining Bank of America tower which was realigned by Stream Realty Partners.

Distribution Center Construction: Amazon.com will open its fifth Texas distribution center & employ 350 full-time workers by the end of 2017. The center will include 855,000 sq. ft. & the creation of 1000s job in total upon completion

Retail Sale:Whitestone REIT purchased the 109,892 sq. ft. Quinlan Crossing retail center

Office Lease: Project America leased 46,200 sq. ft. at Travesia Corporate Park, 3800

FREDERICKSBURG, TEXAS

Retail Lease: Endeavor Real Estate Group has added two anchor tenants to Springtown

for $37.5 million. The center is located near Steiner Ranch at 5145 N. FM 620.

Master-Planned Community: Frisco-based Terra Verde Group and Boston-based

Wheelock Street Capital have acquired Boot Ranch, a 2,052-acre master-planned community from Lehman Brothers, who filed for Chapter 11 bankruptcy in 2008.

ROUND ROCK, TEXAS

Multi-Family Sale: Passco Cos. Inc purchased Lone Oak Apartments, a recently completed 304-unit project located at 1201 Hidden Valley Drive.

Quick Hill Road. Jason Steinberg & Matt Levin with ECR represented the landlor and Leigh Ellis & Jay Lamy with Aquila Commercial represented the tenant. Shopping Center located at 1104 Thorpe Land. Endeavor purchased the 230,000 sq. ft. center in 2014 when it was 10.5% occupied. EVO Entertainment Group has leased 34,000 sq. ft. for a concept it calls The Spot, which is a six screen cinema, and Gold’s Gym has leased 42,000 sq. ft.

SELMA, TEXAS

Industrial Construction: Titan Development Company sold 89 acres to an undisclosed

national distribution company. The site is located in the NWC of the 184-acre Titan Industrial Park just north of Schertz Parkway and Lookout Road. The park has over 1 million sq. ft. of Class-A institutional-quality projects under construction.

SAN ANTONIO, TEXAS

Industrial/Land Sale: H-E-B purchased 42.5 acres at 5721 Rittiman Road close to the

80,000 sq. ft. industrial facility they purchased in late July. According to Real Capital Analytics, the 1,851,531 sq. ft. property was purchased for redevelopment. H-E-B has made $12 million in land acquisitions. 30 | REDNews.com

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

DEALS & ANNOUNCEMENTS North Texas

Dallas/Ft. Worth Areas

Randy Baird

ARLINGTON, TEXAS

Office Construction: Trammell Crow Co has been appointed by the city of Arlington as the master developer of Stadium View, a project that will accommodate up to 1 million sq. ft. of new, class A, office space at I30 & North Collins Street. Trammell Crow & CBRE will seek corporate HQ build-to-suit opportunities.

Retail Lease: Boise-ID-based WinCo Foods has leased an 85,000 sq. ft. building in the

Scott Jackson

Jud Clements Scott Jackson has joined Capstone Commercial Real Estate Group in Dallas as a Senior Vice President.

Robby Rieke

Jon Sorg

Cushman & Wakefield adds investment sales specialists Randy Baird, Jud Clements & Robby Rieke to its national industrial leadership team in Dallas. Jon Sorg has rejoined the Prologis office in Dallas as vice president and market officer.

J.J. Leonard has been appointed Managing Director of Stream Realty Partners’ Dallas office.

J.J. Leonard

Bardin Place shopping center located at the SWC of I20 & S. Cooper Street. Construction is expected to begin this fall.

represented Winco in both this transaction and their Arlington, Texas lease. Caroline & Don Woodbury of DWC Commercial Properties LC coordinated acquisition, development and entitlements of the properties.

DALLAS, TEXAS

Retail Sale: Indianapolis-based Kite Realty Group Trust purchased the 200,000 sq.

Industrial Sale: Stonelake Capital Partners purchased 150,000 sq. ft. in two buildings

located within the Great Southwest Industrial Park in Southern Dallas County. The buildings are located about ½ mile from each other.

Multi-Family Construction: Dallas -based Westdale Real Estate Investment & Management & Dallas-based StreetLights Residential are teaming up to build Deep Ellum’s first 17-story, 337- unit, high-rise apartment tower called The Case Building, located near Hall & Main streets. Office Construction: Dunhill Partners and Crosland Group has begun planning a new, 16- story, high-rise office tower for the Design District on Stemmons Freeway at Edison Street just across from Victory Park. Construction is expected in the spring.

Office Sale: Dallas-based real estate investment firm J. Small Investments purchased

Pegasus Office Tower, a 17-story, 594,000 sq. ft. building located on Stemmons Freeway from Exxon Mobil Corp. The acquisition also includes ancillary buildings on 23 acres of land that are in close proximity to the Medical District & Dallas Love Field. JLL’s Ronnie Deyo, Paul Whitman & Doug Carignan represented the seller.

Office Sale: A firm headed by former Santander Consumer USA CEO, Thomas Dundon,

ft., Chapel Hill Shopping Center located at I30 & Hulen Street which is anchored by Central Market. David Disney & Adam Crockett of Dallas-based Disney Investment Group represented the seller, Dallas-based Strode Property Company.

FRISCO, TEXAS

Hotel Construction: The state’s first Langham Hotels & Resorts will be located at Wade

Park, the 175-acre, $1.6 billion upscale mixed-use development along the Dallas North Tollway @ Lebanon Road. The hotel will include 250 guest rooms, meeting facilities & a spa.

Master-Planned Development: Houston-based Hines and Canadian partner Trez Capital

L.P. purchased a 311-acre property for the development of a single-family master-planned community called Edgestone at Legacy. The land was acquired from the Estate, which was represented by JLL’s Michael Swaldi, Larry McCorkle & Nick Hayden.

Office Construction: Dallas-based real estate developers Craig Gutow, attorney Todd Alvin & a group of investors have begun construction on a 24,000 sq. ft. class A office building near Starwood & the NWC of Dallas North Tollway & Lebanon Road. Alvin Roach has leased 8000 sq. ft. as the anchor tenant.

purchased the 33-story, 844,000 sq. ft. tower located at 2100 Ross Avenue for $131 million. Dundon reportedly plans to locate his new business in the building which was sold by Atlanta-based Cousins Properties.

GARLAND, TEXAS

Office Sale: A JV between Houston-based Triten Real Estate Partners & Chicago-based

company, purchased 42 acres & plans to build a 1 million sq. ft., 80-megawatt data center campus.

Convexity Properties purchased two office buildings located at 6060 & 6080 North Central Expressway. The buildings have 224,682 sq. ft. and 45,817 sq. ft., respectively. JLL’s Jack Crews, Evan Stone & Lauren Zimmer represented the seller, Dallas-based Prescott Realty Group.

Retail Sale: Stonelake Capital Partners sold Skillman Live Oak Center, a 75,201 sq. ft.

retail center located at LaVista Drive & Skillman street to Sun Life Assurance Company of Canada. Greg Stogner & Staci Bowen of Crestview Real Estate will be handling leasing & management.

FORT WORTH, TEXAS Industrial Sale/Leaseback: Monmouth Real Estate Investment Corp reached a sale

leaseback with FedEx Corp to buy a net-leased FedEx Group facility located at 2701 Texas Longhorn Way which includes 304,608 sq. ft. The buyer paid slightly more than $35.3 million for the facility.

Medical Campus: The University of Texas System is planning the UT Southwestern Monty &

Tex Moncrief Medical Center campus on 6.3 acres at the NWC of Pennsylvania Avenue & Main Street. The building is earmarked for UT Southwestern faculty specialty physicians.

Office Lease: London-based advanced medical supplier, Smith & Nephew, leased

58,713 sq. ft. at 5600 Clearfork Main Street. JLL’s Cannon Camp negotiated the lease on behalf of the landlord rep, Edwards Ranch Properties.

Retail Construction: WinCo acquired a 10.5 acre tract of land at the SEC of Tehama

Data Center Construction: RagingWire Data Centers, an NTT Communications group

GRAND PRAIRIE, TEXAS

Distribution Construction: Crow Holdings is building a project for Falken Tires with the

Wildlife Commerce Park at 2401 N. Beltline Road. The new 233,740 sq. ft. facility will be utilized as a distribution center.

Water Park Construction: Grand Prairie will constructing a new $75 million water park-

anchored development, known as The Epic, to bring a large recreational hub to the city. The development will include an indoor 70, 000 sq. ft. water park

NORTHLAKE, TEXAS

Mixed-Use Construction: Hillwood Properties, developer of the 18,000 sq. ft., Alliance

Texas development, has purchased +/- 260 acres in Northlake to launch the latest sector within the Alliance Texas development, Alliance Northport, located on I35W @ SH 114. The expansion will add over 3 million sq. ft. to the Alliance Texas project, primarily of industrial space with some retail and office.

PLANO, TEXAS

Retail Sale: Lionstone Investments & Dallas-based real estate developer PegasusAblon sold Plano Market Street, a 169,624 sq. ft. grocery-anchored center located at 1901-1941 Preston Road. The center was purchased by Phillips Edison Grocery Center REIT II, Inc.

Ridge Pkwy & Presidio Vista Drive for the construction of an 85,000 sq. ft. store. Kevie Beard, McGregor Converse, Jonathan Cooper and Theo Thompson of Venture

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

REDNews.com | 31

DEALS & ANNOUNCEMENTS

Davis Commercial has hired Barrett Von Blon as a commercial broker.

Southeast Texas Houston Area

Barrett Von Blon

CONROE, TEXAS

Oldham Goodwin has hired Aaron Morris as a Vice President of Brokerage Services.

Aaron Morris

Sage Klement has joined Waterman Steele to assist the firm’s retail clients in creating and executing their real estate strategies.

Sage Klement

Medical Office Sale: American Realty Capital purchased the 68,632 sq. ft. Conroe

Office Sale: An affiliate of the Houston-based REIT, Hartman Ashford Crossing LLC

GALVESTON, TEXAS

Retail Lease/Sale: OliverMcMillan Inc entered into a ground lease agreement with

Medical Arts & Surgical Center in Conroe, located at 1501 River Pointe Drive and the 94,359 sq. ft. Legacy Medical Village in Plano, located at 5425 W. Spring Creek Pkwy. The Global Healthcare Services division of Newmark Grubb Knight Frank (NGKF).

Mixed Use Redevelopment: Jerome Karam of JMKS Holdings Galveston LLC took over the long-vacant Falstaff Brewery building and plans to develop its three buildings into parking space for cruise passengers, condos and a hotel. The six-story building on the site will be redeveloped into housing units and the 10-story building will be converted into a hotel.

HOUSTON, TEXAS

Industrial Lease: The Brock Group, a leading industrial specialty services provider, leased

38,240 sq. ft. at 4440 SH 225. Walker Barnett & Gary Mabray of Colliers International represented the landlord and Bryant Lach, Mark O’Donnell & Derrell Curry of Savills Study represented the tenant.

Industrial Sale: Industrial Property Trust purchased two fully leased buildings for $19.67

million or $88/sq. ft. It includes the 96,337 sq. ft. building at 250 Century Plaza Drive and a building at 7355 Yorkfield Street.

Industrial/Office Sale Leaseback: Private equity firm Dalfen America Corp (DAC)

purchased a three-building industrial/office portfolio totaling 201,000 sq. ft. The property is located two miles from Union Pacific’s Englewood & Settegast Intermodal terminals. Joseph Smith of CBRE represented Lockwood International the sale leaseback transaction to DAC.

Medical Construction: The University of Texas MD Anderson Cancer Center will develop &

build a new 175,000 sq. ft., $112.74 million outpatient diagnostic & treatment center on 34.5 acres located near the intersection of I10 & North Dairy Ashford, in Central Park, a Wolff Companies development. Groundbreaking is anticipated in 2016 with opening in 2018.

Mixed-Use Construction: The Texas Medical Center plans to put out requests for proposals for a new convention center, hotel, retail & living space for their remaining 30 acres in the TMC. Their other project is a collaborative research campus that would house researchers in one location. That project awaits board approval.

Multi-Family Construction: Sugar Land-based Sims Luxury Builders will construct a 10-story, 29-unit condominium at 3331 D’Amico near Allen Parkway & Dunlavy Street. All units have been sold and the high-rise is expected to be completed next summer.

purchased Ashford Crossing II, located at Dairy Ashford and Whittington Drive. The building is 158,451 sq. ft. Dave Wheeler, Julian Kwok and Russell Turman represented the buyer and Dan Miller & Marty Hogan of Holliday Fenoglio Fowler LP represented the seller. Restprop Ltd, Urquhart Resprop LLC and McKissack Restprop LLC, landowners of the LePeep restaurant, Sullivan’s steakhouse, Westcreek Market & Deli and Exceptional Nail Salon. The agreement allows Oliver McMillan to pay monthly rent on the land as it builds office on nearly 1.5 acres & a hotel with possible residential units. Improvements made on the land will be owned by OliverMcMillan & the developer has right of first offer to purchase the land.

Retail Lease/Sale: The Downtown Redevelopment Authority has narrowed down a list of three developers that are looking to redo downtown’s former Sakowitz building at 1111 Main and an adjacent property located at 1010 Lamar in order to create a mixed-use, 90,000 sq. ft. retail with either residential units or a hotel on the site.

Vacant Land Sale: McAlister Real Estate’s James Kadlick, Chris Hutcheson & Matthew

Herring represented the seller in the sale of 11.5 acres on the Westpark Tollway just east of Peek Road. The buyer was LMM Investment Company.

KATY, TEXAS

Retail Construction: NewQuest Properties will develop a $75 million, 102,473 sq. ft.

community lifestyle center on Gaston Road between Greenbusch Road & Falcon Landing Blvd. The project is 75% preleased and is scheduled to open December 2016.

PASADENA, TEXAS

Industrial Construction: Stream Realty has broken ground on Bay Area Business Park,

Phase II, which will include +/- 830,000 sq. ft. The project is located at Bay Area Blvd & Red Bluff and will begin to deliver September 2016.

PORTER, TEXAS

Retail Lease: Academy Sports + Outdoors has leased space at Signorelli Company’s Valley Ranch Town Center, a 240-acre mixed-use development.

RICHMOND, TEXAS & SPRING, TEXAS

Multi-Family Construction: Oxberry Group will build The Mondrian, an eight-story, 20-unit

condominium project at 5104 CarolineStreet. Transwestern brokers Carlos Bujosa & David Schwarz III represented the seller of the property, Weather Research Center Inc.

Office Construction: Midway Cos is preleasing One Parkside, their spec 13-story,

225,000 sq. ft. tower near I10 & Loop 610 adjacent to Houston’s First Baptist Church.

Office Lease: IDS Engineering leased 36,683 sq. ft. at the Granite Tower at 13430

Northwest Freeway. Derrell Curry of Savills Studley represented the tenant and Sandy Benak represented the landlord.

Multi-Family Construction: Mercantil Commercebank, a financial institution based in South Florida, leased 18,069 sq. ft. at Town Centre I building, located at 750 Town & Country. Bob Cromwell & Kevin Nolan of Moody Rambin and Bobbie Bozarth of Transwestern represented the tenant.

Office Sale: An affiliate of Dallas-based Lincoln Property Company bought Galleria Place

from Songy Highroads LLC. The 6-acre, 401,271 sq. ft. office campus fronts Westheimer Road at Sage Road and includes Galleria Place I & II office buildings and the 5,797 sq. ft. Sage Plaza retail building, a 3,892 sq. ft. retail building occupied by Regions Bank and two parking decks.

32 | REDNews.com

Rayford Road Shopping Center

Long Meadows Retail Center

3555 Rayford Rd., Spring, TX 32,125 sq. ft.

7035 W. Grand Pkwy, Richmond, TX 16,275 sq. ft.

Leased by Jeff Goldberg & Beau Evans

SUGAR LAND, TX

Office Sale: Pennsylvania-based real estate fund manager Equus Capital Partners Ltd

bought One Sugar Creek Center, the 193,988 sq. ft. Comerica Bank Building, located on the north side of US 591 @ Sugar Creek Blvd. Jared Chua & Bernard Branca of CBRE’s Investment Properties Institutional Group in Houston represented the seller.

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

REDNews

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A. A. Realty Company 13 ACRP 28 BACREN 28 BOMA 24, 26 CCIM Central Texas 24 CCIM Houston 28 C.R.E.A.M. 28 CREN 28 CREW Dallas 26 CREW San Antonio 24 CTCAR 24 Evtex Property Alliance 17 Greenberg & Co. 19 Gusma Properties, LP 19 Hankamer Commercial Brokers, LLC 21 IREM Austin 24 IREM Houston 28 IREM San Antonio 24

Land Advisors Organization Levcor, Inc. Mall of the Mainland Move Resources NAI Partners North Texas CCIM Peyco Southwest Realty, Inc. Real Estate Council Austin Phase Engineering, Inc. Showalter Law Sluco Realty Stream Realty Partners, LP - Dallas Tarantino Properties, Inc. The J. Beard Real Estate Company, L.P. Transwestern Commercial Services Waller County EDC Wolverine Management

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REDNews.com | 33

ICSC TEXAS CONFERENCE & DEAL MAKING November 4 – 6, 2015 Kay Bailey Hutchison Convention Center Dallas, TX #TexConf

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FOR MORE INFORMATION AND REGISTRATION VISIT WWW.ICSC.ORG/2015TX

PREMIUM SPACE STILL AVAILABLE Texas Conference & Deal Making November 4 – 6, 2015 - Dallas TX reserve your space today!

UPCOMING ISSUES NOVEMBER

DECEMBER

Retail / Vacant Land / Texas Development Opportunities

Recap of Texas ICSC Retail/Vacant Land

Deadline: October 12th

Deadline: November 11th

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October 19-20, 2015 . Norris Conference Center . Houston, Texas Previously held at the South Texas College of Law, the Commercial Real Estate Course moves to Norris Conference Center at CityCentre for 2015. This course is planned with the commercial real estate professional in mind. It provides vital information including current developments, important legal issues, and the economic setting with trends and projections for the Houston area.

Monday — October 19 7:30 AM–5:10 PM

Speakers Steve Burkett

Jones Lang LaSalle Americas Houston

Steve Murdock

Todd Edmonds

Rice University Dept. of Sociology Center for the Study of Texas Houston

Kerry French

Representative Jim Murphy

Colliers International The Woodlands Northmarq Capital Houston

James Gaines

District 133 Houston

Real Estate Center at Texas A&M University College Station

Larry Nettles

Neal Golden

Bob Parsley

Vinson & Elkins Houston

Newmark Grubb Knight Frank New York

Colliers International Houston

Detlef Hallermann

University of Houston Graduate Real Estate Program Houston

Mays Business School Reliant Energy Trading Center Texas A&M University College Station

Gerald Klassen

Bill Pederson

Bruce Rutherford

Jones Lang LaSalle Americas Houston

Real Estate Center at Texas A&M University College Station

Sam Scott

Kirk LaGuarta

Ron Walker

Land Advisors Organization Houston

Jeff Lokey

NewQuest Properties Houston

HAR Commercial Gateway Houston Austin Diocese Austin

H • • • • • • • H

Check-in 7:30 AM–8:40 AM Environment for Investment Real Estate Environmental Update 2015 TREC Legal Update CE Course Trends in Office Space Outlook for the World Energy Capital Urban Land Markets Legislative Update 2015: Real Estate Implications Reception with special guest Representative Jim Murphy 5:10 PM–7:00 PM

Tuesday — October 20 • • • •

Conference Location Norris Conference Center – Houston/CityCentre 816 Town and Country Blvd., Suite 210 Houston, TX 77024 Map: http://norriscenters.com/houston-citycentre-driving-directions

Conference Registration

Reid Wilson

Wilson, Cribbs & Goren, PC Houston

Andy Lusk

Lionstone Investments Houston

Sponsored by HAR Commercial Gateway CCIM Gulf Coast Chapter Wilson, Cribbs & Goren, PC Real Estate Center at Texas A&M University

7:30 AM–2:15 PM

Houston & Texas Demographics 2015 TREC Ethics CE Course High Tech Real Estate Professionals Texas Real Estate Economic Forecast 2016

SEMINAR

7:30 AM –5:10 PM Monday 8:30 AM –2:15 PM Tuesday

On/Before Septmeber 28

By October 18

At The Door

$250

$275

$295

CANCELLATIONS: A full refund will be made if requested by September 28, 2015. Refunds requested after September 28, 2015 will incur a $50 cancellation fee. No refunds will be made after October 18, 2015. For more information, email dwhisenant@tamu.edu.

Continuing Education Course provides 9 hours electives, 3 hours Legal Update, 3 hours Ethics. TREC no longer allows partial credit for MCE courses. You must be in attendance for the entire course to receive credit. TREC Provider 0207 Special Needs and ADA Accomodation — email dwhisenant@tamu.edu