redNEWS August 2013 by RE Journals

UHG 1(:6 5($/ (67$7( ',5(&725< FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

AUGUST 2013

Premier Business Locations in Texas see pages 18 & 19 for more information

In this issue: Building Boom Cities The Aging Population Whatâ&#x20AC;&#x2122;s Happening

i n CRE Texas

Future of the Permian Basin 10

Dr. Ray Perryman

Properties For Sale/Lease 1- 3, 5, 8-11, 13,18, 19

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t a b l e o f C O N T E N T S

Development DejaVu 12 Texas Development 14-16 Development in the Movies 17 Building Boom Cities 20, 21

The Aging Texas Population 22, 23 Advertisers Index 33 Texas Classifieds 33 PROJECTED POPULATION CHANGE, TEXAS COUNTIES, 2010-2050 -6,200 - 0 1 - 2,000 2,001 - 10,000 10,001 - 100,000 100,001 - 1,000,000 1,000,001 -3,480,000

Source: Texas State Data Center 2012 Population Projections . 2000-2010 Migration Scenario

Whatâ&#x20AC;&#x2122;s Happening in Texas CRE

Calendar of Events 26, 27 Networking Photos 28, 29 Deals & Announcements 30 - 32 Saying Good Bye to the Astrodome 34

Offce/Retail for Lease 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

1 Kaleidoscope | 10612-10692 Westheimer, Houston, TX

• 2 blocks west of Beltway 8 • 2,952 SF - 2nd ﬂoor • Excellent for retail, ofﬁce or professional use • 905 SF available for a Hair Salon

2 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

For more information Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108 eleung8888@aol.com

Beltway 8 West

A A Realty Co

Accredited Management Organization

3 Westheimer Rd

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5($/ (67$7( ',5(&725<

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ginger@rednews.com

Editor Marjorie Gohmert marjorie@rednews.com Associate Editor / E-Marketing Karisa Connell karisa@rednews.com Contributing Writers Janis Arnold, Ray Hankamer rhankamer@gmail.com Austin - Rosalie Keszler San Antonio - Suzanne Scott Art Director Franc Reyes graphics@rednews.com Sr. Designer Mark Ramos graphics@rednews.com Jr. Designer - Stephanie Bardwil Accounting Benton Mahaffey accounting@rednews.com Database Manager Jason Marshall jason@rednews.com Sales Ginger Wheless ginger@rednews.com Karisa Connell karisa@rednews.com

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p u b l i s h e r s L E T T E R Dear Readers, Last month I mentioned that change is good and I hope you agree since you’re seeing a lot of changes in this month’s magazine. We wanted a new look and feel to the magazine and I hope you like what you see. Since REDNews’ inception I have repeatedly been asked “What is REDNews?”. Over the years I recall that there were only a few people who understood that it was an acronym for Real Estate Directory News. (I wish I could remember the names of each so I could personally give accolades.) Repetition has paid off and REDNews has become well known as a source for commercial real estate news. However, since we are widening our distribution reach outside the CRE industry, we want it to be easily identified on the newsstands as a source of business news related to growth, development and investment opportunity throughout Texas and the US. Our continued focus is the refinement of our databases since it is the backbone of our business. In 1994, we started out with 2,000 CRE professionals in our database and we now have over 100,000. Our online marketing continues to expand and since we know you are inundated with emails, it is more important than ever that you only receive exactly what you want to receive from us. We are proactively refining our records and we need your help. Please be sure to respond to the update forms we send to you so we know exactly what to send you. Our September issue will be an Office/Office Medical focus which will again all be positive news. How sweet it is to live in Texas! Have a great August, Ginger

Publisher

Ginger Wheless

VISION | MOBILITY | BEAUTIFICATION | SAFETY | AMENITIES

Amenities

are the fuel to keep us growing.

Westchase District is an ideal environment for growth. We have new Class-A LEED-certified buildings under construction. And we have all the amenities businesses need to attract a competitive workforce: luxury apartments and townhome communities, private and public schools, higher education, banks, health clubs, medical services, and award-winning restaurants. To learn more about how the Westchase District is creating a positive environment for business, visit westchasedistrict.com/vision.

713-780-9434

WESTCHASE. WHERE BUSINESS IS MOVING.

Energy Tower at City Center

Future of the Permian Basin On July 10th, Dr. Perryman spoke at Collier’s International’s luncheon in Houston. Dr. Perryman is Founder and President of The Perryman Group (TPG), an economic and financial analysis firm headquartered in Waco, Texas. He is widely regarded as one of the world’s most influential and innovative economists. Dr. Ray Perryman’s topic was “The Current ‘Boom’ in the Permian Basin”, an oil and natural gas producing part of Texas that reaches from just south of Lubbock to south of Midland and Odessa and extends westward into the southeastern part of New Mexico. The Permian Basin is approximately 250 miles wide and 300 miles long with the towns of Midland and Odessa serving as headquarters for oil production activities. In addition to the Permian Basin, the Houston area and the Eagle Ford Shale part of the state (south of San Antonio) are also experiencing significant ‘booms’. At the present time, rig counts within Texas are near 850, with the bulk of the activity concentrated in the Permian Basin. Unemployment in the Permian Basin region is the lowest in the state (3.4% in Midland, 4.1% in Odessa, and 6.4% in Houston) according to the Texas Workforce Commission’s latest estimates. Midland and Odessa regularly appear on listings of top ranked cities for job growth. Other positive economic indicators: • Forbes Magazine’s Best Small Cities for Jobs (Midland ranked 2nd in 2012 and 4th in 2011 and Odessa ranked 1st in 2012 and 8th in 2011) • The Milken Institute’s Best-Performing Small Cities (Midland ranked 8th in 2012 and 22nd in 2011 and Odessa ranked 4th in 2012 and 34th in 2011). • The highest “job multiplier” in the US is an oil field job. Perryman estimates that for every job created in the oil field – 1.98 jobs are created in Houston and 2.5 jobs are created in the US. Economic indicators suggest that the current boom is different from previous oil booms. Prices appear likely to remain at relatively elevated levels for an extended period of time. Historically, oil production peaked in the Permian Basin area in 1973 and thereafter declined every year regardless of oil prices. After 1973, no matter how many rigs were

used during the ‘boom years’, oil production declined. This was because the easy oil had already been found and pumped. Hydraulic fracturing, “fracking”, began in 2008 and appears to have been a real ‘game changer’ for the oil industry. Oil production has increased every year since fracking began. Current estimates are that, taking into consideration both new finds as well as the continuation of the fracking process, the Permian basin will not peak again until after 2047 and is unlikely to return to today’s level of production until after 2060. In addition to the significant technological changes, management techniques have altered in a way that is beneficial to the industry. Estimates are that the oil and “wet” natural gas (used for plastics and other products) reserves and identified resources in the Permian Basin exceed $3 trillion at today’s prices. Infrastructure in the Permian Basin area is strained. Roadways are more crowded and the demand for water is rising. The need for real estate assets has grown. Office space in Midland was already more than 90% occupied in 2010; the recent strong economic growth has only served to increase demand. Companies

searching for space in the area through online databases (including that of the Midland Economic Development Corporation) encounter relatively small blocks of space that leases quickly. Midland hotel occupancy rates increased sharply between 2010 and 2011, and have remained relatively strong since that time. A recent search on a commonly used website (realtor.com) revealed no vacant apartments in Midland and fewer than 20 residential rental options (mostly houses). Demand for oil is expected to remain strong, as oil and gas needs are expanding in many countries. According to oil company BP’s latest “Statistical Review of World Energy,” the United States already leads the world in reducing carbon dioxide emissions. Last year emissions were down 3.9 percent. At the same time, China’s emissions soared by 6 percent, India’s by 6.9 percent, Brazil’s by 2.5 percent, and Mexico’s by 4.3 percent. Even in Europe, where the European Union has imposed stringent regulations aimed at cutting carbon dioxide, emissions were up 1.3 percent in Germany, the EU’s largest economy. “The gulf between the hard realities of the global energy market and the Obama administration’s energy policies grows wider by the day,” Bryce writes for National Review Online. U.S. emissions are down due to a large decrease in coal consumption — down 11.9 percent last year. The decrease can largely be attributed to increasing regulatory burdens and the boom in natural gas production, thanks to hydraulic fracturing. That has led to cheaper natural gas, which is replacing coal at American power plants. However, according to the BP report, global coal consumption grew by the equivalent of about 26 million barrels of oil per day between 2002 and 2012, including 2 million barrels a day just last year. And global coal consumption will continue to rise because global demand for electricity is rising, and at the present time, the increasing worldwide demand for electricity is being met largely by coal. Prognosis for North American Energy Independence: It is important to note that industrywide, the oil production process is not highly leveraged. In addition, through the use of today’s technology (fracking) and today’s management techniques, the Permian, Eagle Ford and Bakken fields have the potential, when combined with oil from Canada and Mexico, to make North America energy independent in the near term.

LAND / CHURCHES FOR SALE Land on Ella Blvd - 4.538 Acre ................................... SALE PENDING ......................................$325,000 Baytown Spanish SDA - 704 + 750 E Texas Ave 4,200 SF.....................................................$150,000 Majestic Christian Center - 3512 McLean Rd - 19,500 SF. ...............................................$1,500,000 Dome Church - South Acres at Scott Street - 57,000 SF.......................SALE PENDING........$3,740,000 3.9 Acres - 7225 Bellfort Avenue ..............................................................................................$229,000 Church Facility - 3730 South Acres - 14,000 SF ........................SOLD....................................$595,000 Channelview Area Church - 1100 Dell Dale ..................................................... REDUCED .....$1,995,000 League City UMC - 1411 West Main Street - 34,000 SF ....................................................$3,950,000 Land in Tomball, TX - Holderrieth & S. Cherry - 2.03 Acres .................................................$230,000 Miracle Christian Fellowship - 16310 Chimney Rock - 15,000 SF......................................$855,000 13 Acres on Beechnut at Rustling Leaves - $6.25 PSF .....................................................$3,536,250 Multipurpose Bldg - 710 College St. - 7,200 SF...................................................................$650,000 Religious Facility in South Houston - Beaumont St. @ Illinois - 11,800 SF.......................$799,000 Baytown Campus/Training Center Facility (Income producing property) - 301 Ilfrey.................$3,400,000 SE Area Church - 10050 Fuqua - 9,995 SF .................................SALE PENDING...................$1,100,000 Trinity Fellowship Church - 9321 Edgebrook St. - 67,000 SF.........................................$1,300,000 Pasadena Church - 4444 Vista Rd. - 46,000 SF .................................................................$1,200,000 Aldine Christian Church - 2233 Aldine Mail Rte. - 10,500 SF ......... SALE PENDING ............ $499,000

International Church Realty (713) 541-4005 OFFICE/WAREHOUSE - FOR LEASE

4860 S. SAM HOUSTON PKWY E. SW/C S. BELTWAY 8 & COTTINGHAM

     

17,000 SF BUILDING (70’ X 225’) 1,750 SF OFFICE (EXPANDABLE) 28’ CLEAR HEIGHT 70’ CLEAR SPAN CRANE-READY (20 TON) GRADE LEVEL (TRUCK WELL OR RAMP POSSIBLE)

MARK NICHOLAS

713-888-4024 mark.nicholas@am.jll.com

     

400 AMP / 3-PHASE / 480V POWER $0.75/SF NNN STABILIZED & FENCED YARD UNDER CONSTRUCTION NOW 6” SLAB OCCUPANCY Q3 2013

Dèjá Vu

Development

Multifamily construction revisits secondary and tertiary markets. By Rich Rosfelder An oil-producing formation called the Cline Shale was recently discovered in West Texas. Soon workers descended upon the tertiary cities of Midland and Odessa, drawn by the new oil-field jobs. Brian J. O’Boyle, CCIM, managing broker with Apartment Realty Advisors in Dallas, along with ARA’s smallmarket specialist Bart Wickard, has been tracking the resulting uptick in multifamily development. He notes that, as of April, Midland had approximately 3,150 apartment units planned or under construction and Odessa had 2,800. “In these two markets, developers are targeting any land they can get their hands on,” O’Boyle explains. Texas-based development companies see the growing demand and lack of supply in the area firsthand, and they’ve recently found themselves competing with oil companies for land sites, O’Boyle adds. But Midland and Odessa aren’t the only noncore cities seeing an uptick in multifamily development activity. Job growth and pent-up retirement demand are drawing new tenants to markets from Seattle to South Florida. And with access to inexpensive debt and flexible loan terms, developers have begun to respond to the new demand outside

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of primary markets. This is reflected, in part, in the numbers: There were 233,900 new multifamily starts in 2012, up from 167,300 in 2011, according to the U.S. Census Bureau. That’s not to say that all markets are seeing new multifamily product. Investors, developers, and lenders are carefully evaluating opportunities and potential challenges in their quest to build the right property in the right location for today’s renter.

Dissecting Demand About 1,700 miles north of West Texas, Calgary, Alberta, is also seeing multifamily development demand driven by a thriving energy sector. “I would be able to secure offers from my buyers on almost any serviced and properly zoned land right now,” says D’Arcy Browning, CCIM, of Re/Max Real Estate in Calgary. Investors in his market are looking at multifamily development opportunities in all locations, comparing per-square-foot land costs and absorption rates among sector niches such as luxury and affordable housing. Indeed, replacement cost is a key factor for investors considering multifamily construction. “We have only recently become interested in new development due to the narrowing

gap between the cost of existing product and new construction,” says Michael Anderson, CCIM, owner of RealSource, a Utah-based investment firm specializing in multifamily opportunities in growing markets. In some markets, demand is up and the existing multifamily properties are simply obsolete. “We need to replace our inventory,” says Todd D. Clarke, CCIM, chief operating officer of NM Apartment Advisors in Albuquerque, N.M. “The average apartment was built in 1965, is red brick, pitched roof, master metered, and built furnished — none of which is what the baby boomers and Generation Y are looking for.” Developers are expected to deliver 560 units in Albuquerque this year — up from 158 in 2012, according to Marcus & Millichap. Generation Y, in particular, is expected to be key to multifamily leasing and development. A significant portion of this 87.3 million-strong population segment will form new households as they leave their parents’ homes during the next two years, Marcus & Millichap notes.

Excerpts from CIRE MAGAZINE JULY/AUGUST 2013

Leasing Information: Terri Torregrossa Leasing Information: Ttorregrossa@moodyrambinint.com Terri Torregrossa 713.773.5500 Ttorregrossa@moodyrambinint.com 713.773.5500

& &

2500 TANGLEWILDE 2500 TANGLEWILDE Available Suites: Suite SF Available Available Suites: 220 1,670 Suite SF Available 269 825 220 1,670 278 1,133 269 825 305 809 278 1,133 308 2,000 305 809 318 1,080 308 2,000 345 2,335 318 1,080 360 473 345 2,335 478 768 360 473 482 873 478 768 486 697 482 873 495 1,218 486 697 495 1,218

Building Information: Total Building SF: 103,553 Building Floors: 3 Information: Total Building SF: 103,553 Submarket: Westchase Floors: 3 Rental Rate: $14.50-$16.00/SF Submarket: Parking Ratio:Westchase 3.5/1,000 SF Rental Rate: $14.50-$16.00/SF Parking Ratio: 3.5/1,000 SF Building Features:

3600 S GESSNER 3600 S GESSNER

Available Suites: Suite SF Available Available Suites: 161 6,076 Suite SF Available 225 1,676 161 6,076 230 1,108 225 1,676 236 1,249 230 1,108 240 953 236 1,249 245 4,492 240 953 295 5,483 245 4,492 295 5,483

• Stable private ownership Building Features: • On-site management •• Secured Stable private coveredownership parking available On-site management •• Card-key access & security cameras Secured covered •• Conference facilityparking available Card-key access & security cameras •• Courtyard • Conference facility • Courtyard

6 Months Free on 5 Yr New DealsFree Starting 6 Months on 5 @ Yr $12-$14.50 Gross New Deals Starting @ *Limited Time $12-$14.50 Gross

Building Information: Total Building SF: 65,826 Building Floors: 2 Information: Total Building SF: 65,826 Submarket: Westchase Floors: 2 Rental Rate: $12-$15.00/SF Submarket: Parking Ratio:Westchase 4/1,000 SF Rental Rate: $12-$15.00/SF Parking Ratio: 4/1,000 SF Building Features:

*Limited Time

• Stable private ownership Building Features: • Recently remodeled lobby •• Card-key Stable private accessownership Recentlycameras remodeled lobby •• Security •• Reserved Card-key parking access available • Security cameras • Reserved parking available

GREAT User or Development GREAT or Owner Development Tracts withUser Flexible Financing 1 1

3 3

Tracts with Flexible Owner Financing

HOUSTON

4 4

20.12 acres 20.12 acres 8.025

Brittmoore & Clay Road Brittmoore Clay Road Red Bluff & &Preston Road

$10/sf $10/sf $1.25/sf

8.025acres acres 1.08 43 3.1 1.08acres acres 32

2 2

54 5

Red Bluff Preston Road $9/sf $1.25/sf Blalock && Clay Blalock near & Clay $9/sf Hilcroft Orem Road $2.25/sf 3.1 acres Hilcroft near Orem Road $2.25/sf NEW 41 unit mini-storage * $425,000 41buildings unit mini-storage * Spring $425,000 *NEW 8180 SQ commercial - 2039 Pech Road, Branch * 8180 SQ commercial buildings - 2039 Pech Road, Spring Branch

A+ PERFORMING REAL ESTATE NOTES FOR SALE A+ PERFORMING REAL ESTATE NOTES FOR SALE Payout Payout $292,071

Rate Rate 5-7%

Remaining Remaining 48 months

Security Security Historic Bldg. Commercial

Price Price $2 0 0 , 0 0 0

$292,071 $1,291,608.70 $1,291,608.70

5-7% 10% 10%

48 months 145 months 145 months

Commercial Bldg. Historic Bldg. Commercial Commercial Bldg.

$2300 , 60600 $7 $7 3 0 , 6 6 0

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CONROE, TEXAS

From manufacturing to technology, the premier business address 248-acre technology park and 1,045 acre industrial business park Adjacent to Lone Star Executive Airport that facilitates corporate travel Local and state incentives Lone Star College Conroe Center On-site campus Workforce training Continuing education

Larry Calhoun E xe c u t ive D i re c t o r

5 0 5 We s t D a v i s C o n ro e, Te x a s 7 7 3 0 1 936-522-3014 281-787-8091 936-756-6162 Gcedc.org lcalhoun@cityofconroe.org

Conroe Park North

Low cost energy and utilities Both parks perfect for local, regional, national and international operations and headquarters Distribution and transportation convenience No personal state income tax Low taxes and operating costs Exceptional quality of life

BUILDING BOOM CITIES: THE METRO AREAS WITH THE MOST NEW CONSTRUCTION by Morgan Brennan, Forbes Staff; Contributions by Monica Nickelsburg June 20,2013 (excerpts from article)

t the height of the economic downturn more than 700 construction projects were idled across New York City’s five boroughs, according to the city’s Department of Buildings. Some faced foreclosure while others found creative ways to make use of their vacant space. Three years later, construction in the Big Apple AAPL +0.04% has surged back to life, and with it, the development of many of those stalled sites. The city clocked $20.5 billion worth of new construction starts in 2012, thanks in part to the groundbreaking of the first office tower at Hudson Yards, the $15 billion mixed-use mega development Related Companies billionaire Stephen Ross plans to roll out over the next decade. In the first five months of 2013, New York welcomed another $8.5 billion worth of new construction starts, a 16% increase over the same period last year, with a flurry of new residential towers popping up to meet the ever-increasing demand for housing. Among the most anticipated: Manhattan’s The Atelier II, with a projected construction cost of $295 million; a Bjarke Ingelsdesigned pyramid-shaped building on Manhattan’s 57th Street, with a projected cost of $225 million; and Brooklyn’s Atlantic Yards B2 Residential Tower, the world’s tallest modular tower, with a projected cost of $117 million. “Apartment housing has been seeing increases since 2010 and certainly New York City has been a part of the resurgence for multifamily building,” says Robert Murray, vice president of economic affairs at McGraw Hill Construction, a New York Citybased construction data firm. Another factor playing into 20

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the Big Apple’s construction figures: mixed-use developments throughout the metro area (which includes the city’s surrounding suburbs in northern New Jersey, Long Island and Westchester). In Queens’ Long Island City neighborhood the $192 million first phase of developer Related’s massive Hunters Point site kicked off in March. In New Jersey, construction began in April on two big projects: the $400 million Prudential Financial PRU -0.1% Office Tower in Newark, and Jersey City’s $191 million 70 Columbus tower (one-half of a dual tower development). Sound like a lot of new building? It should: for the second consecutive year the New York metro area tops our list of the U.S. cities with the most new construction. To compile our list, the folks at McGraw Hill Construction sorted through building data for the nation’s metropolitan statistical areas to find the 20 places where the most money has been spent on new construction from the start of 2013 through May. We looked at the dollar amount of new construction starts, or projects where ground has been broken and work begun, for structures that fall under the “Total Building” umbrella. Total Building includes single-family home construction, multi-family home construction, office space, retail space, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities. McGraw Hill Construction tallies the full value of the project at the time it starts, meaning the cost of a project’s construction, which will typically take two to three years to complete, though not the value of the land itself or the cost of its acquisition. We focused on construction

starts because they are a leading indicator of economic activity and one that is commonly used by builders, developers and economists. Still, it’s worth noting that tracking construction by starts is hardly foolproof, as work can begin on a project and still stall–if a developer loses financing, for instance. To a smaller extent seasonality can also play a hand in when a project starts. New construction for the entire country was up 10% in 2012 and McGraw Hill Construction projects it will climb another 12% in 2013. The biggest driver of that recovery is far and away multifamily housing, a trend reflected in every metro area on our top 20 list. “All of these markets have shown a strong increase in multifamily projects and to a lesser degree, a pickup in commercial building, which corresponds to the broader national pattern that we are seeing,” notes Murray. Homebuilding, particularly multifamily construction, continues to lead the larger real estate

We focused on construction starts because they are a leading indicator of economic activity and one that is commonly used by builders, developers and economists. recovery. In May, for example, housing starts rose nearly 29% from a year earlier to an annual rate of 914,000 units, according to the Commerce Department, of which slightly more than a third were multifamily. McGraw Hill estimates apartment building starts

1. NEW YORK, NY

M.S.A.: New York-Northern New Jersey-Long Island, NY-NJ-PA 2013 Construction Starts, January to May: $8.5 billion Change, year-over-year: 16% 2012 Construction Starts: $20.5 billion Change from 2011: 11% Largest 2013 Project Started, to date: Phase 1 of the Prudential Financial Office Tower (Newark, NJ)

2. DALLAS, TX

M.S.A.: Dallas-Fort Worth-Arlington, TX 2013 Construction Starts, January to May: $5.2 billion Change, year-over-year: 21% 2012 Construction Starts: $11.1 billion Change from 2011: 22% Largest 2013 Project Started, to date: Addition at T5@ Dallas Data Center (Plano, TX)

3. HOUSTON, TX

M.S.A.: Houston-Baytown-Sugar Land, TX 2013 Construction Starts: $4.8 billion Change year-over-year: 8% 2012 Construction Starts: $11.1 billion Change from 2011: 23% Largest 2013 Project Started, to date: MD Anderson Pavilion (Houston, TX)

4. WASHINGTON, D.C.

M.S.A.: Washington-Arlington-Alexandria, DCVA-MD-WV 2013 Construction Starts, January to May: $4.6 billion Change, year-over-year: 23% 2012 Construction Starts: $9.6 billion Change from 2011: 15% Largest 2013 Project Started, to date: Alterations to the International Monetary Fund Headquarters

were up 33% nationally in 2012 from 2011 and will climb another 23% in 2013. Commercial building starts have risen more modestly, 10% in 2012, and are expected to rise another 15% in 2013. One of the major factors weighing commercial development down is financing which temporarily dried up in the downturn and, despite the country’s nascent economic recovery, remains tight. Hotels and warehouses have been the most common nonresidential projects, more recently joined by retail space, particularly within mixeduse developments. Institutional building – for example, of hospitals and schools – has lagged, falling 11% last year and is projected to fall another 2% in 2013. Perhaps unsurprisingly, given Texas’ relatively strong economic growth, three Lone

THE 20 U.S. CITIES WITH THE MOST NEW CONSTRUCTION 5. ATLANTA, GA

M.S.A.: Atlanta-Sandy Springs-Marietta, GA 2013 Construction Starts, January to May: $3.6 billion Change, year-over-year: 80% 2012 Construction Starts: $4.9 billion Change from 2011: -3% Largest 2013 Project Started, to date: Baxter Blood Plasma Fractionation Plant at Stanton Springs (Covington, GA)

6. LOS ANGELES, CA

M.S.A.: Los Angeles-Long Beach-Santa Ana, CA 2013 Construction Starts, January to May: $3.2 billion Change, year-over-year: -4% 2012 Construction Starts: $7.9 billion Change from 2011: 23% Largest 2013 Project Started, to date: Renovation of Delta Terminal 5 (Los Angeles, CA)

7. MIAMI, FL

M.S.A.: Miami-Fort Lauderdale-Miami Beach, FL 2013 Construction Starts: $2.8 billion Change year-over-year: 36% 2012 Construction Starts: $6 billion Annual Change from 2011: 77% Largest 2013 Project Started, to date: Dezer Properties’ Porsche Design Residences (Sunny Isles Beach, FL)

8. Phoenix, AZ

Annual Change from 2011: 10% Largest 2013 Project Started, to date: Liv North Gateway Apartments (Gilbert, AZ)

9. BOSTON, MA

M.S.A.: Boston-Cambridge-Quincy, MA-NH 2013 Construction Starts, January to May: $2.6 billion Change, year-over-year: 28% 2012 Construction Starts: $6.7 billion Change from 2011: 13% Largest 2013 Project Started, to date: UMass Boston General Academic Building Number 1 (Dorchester, MA)

10. CHICAGO, IL

M.S.A.: Chicago-Naperville-Joliet, IL-IN-WI 2013 Construction Starts, January to May: $2.4 billion Change, year-over-year: -5% 2012 Construction Starts: $7.1 billion Change from 2011: 14% Largest 2013 Project Started, to date: The Loews Chicago hotel-condominium tower

11. DENVER, CO 12. ORLANDO, FL 13. SEATTLE, WA 14. SAN FRANCISCO, CA 15. AUSTIN, TX 16. TAMPA, FL 17. BALTIMORE, MD 18. SAN JOSE, CA 19. NASHVILLE, TN 20. PHILADELPHIA, PA

M.S.A.: Phoenix-Mesa-Scottsdale, AZ 2013 Construction Starts, January to May: $2.6 billion Change year-over-year: 8% 2012 Construction Starts: $6 billion Informationcollected by McGraw Hill Construction

Star cities make our list: Dallas (No. 2), Houston (No. 3) and Austin (No. 15). About $5.2 billion has poured into Dallas-area development so far this year, a 21% increase over the same period in 2012. The largest projects include the $113 million T5 office space addition at the Dallas Data Center in Plano and a new $91 million high school campus in the suburb of Flower Mound. So far this year Houston has logged $4.8 billion in new construction, an 8% increase over last year. While Dallas is welcoming a tremendous amount of building related to business operations and infrastructure, Houston’s largest projects have typically revolved around healthcare and housing, such as the $72 million MD Anderson Pavilion begun in May and the $45 million Hanover Post Oak rental high rise begun in April.

Ken Rosen, chairman of the Fisher Center for real estate at UC Berkeley, concurs that building is booming. Rosen assesses building permits relative to metro areas’ geographic size; by his measure, the hotspots are Houston, Phoenix (No. 8 on our list), San Francisco (No. 14), and San Jose (No. 18). He agrees, though, that much of the building bump can be attributed to housing. “We’re saying that multifamily construction is going to rise further the next two years and that singlefamily, which nationally has been very depressed, will take the next three to four more years to really recover,” says Rosen. “We’re adding a half percent more to the U.S. economic growth rate because of the housing construction recovery.”

THE AGING TEXAS POPULATION AND

IMPLICATIONS FOR THE FUTURE Dr. James P. Gaines, Ph.D., speaking at TAMU’s 23rd Annual Outlook for Texas Land Markets Conference on April 26, 2013.

exas’ total population is predicted to expand by more than 30 million people, or to increase nearly 120% between 2010 and 2050. Back in the 1950s and 60s, Texas was ‘just growing’. During those two decades, Texas’ population JAMES P. GAINES, PH.D. increased 24%, with 93% of that increase due to natural increase. Texas A&M economist Contrast those numbers to the numbers for the most recent decade (2001-2010). During the first decade of this century, Texas’ population grew from 20+ million people to 25+ million inhabitants, a 20% change, with 54% of that growth due to ‘natural increase’ and 45% of the increase due to ‘net migration’ from other states within the US as well as foreign migration into Texas.

TEXAS’ TOTAL POPULATION WILL EXPAND BY MORE THAN 30 MILLION PEOPLE, NEARLY 120%, BETWEEN 2010 AND 2050 Historically, Texas has always been a fast-growing state, due primarily to the economic success of the state. The pattern that we see now which is expected to continue, on a county-by-county basis, is that people are moving to the major metropolitan areas: Dallas, Houston, Austin and the I-35 Corridor, and San Antonio. What this boils down to is that people are going where the jobs are. We expect that, by 2050, approximately 85% of the total Texas population will live east of the I-35 corridor. The additional 30 million people expected in the state by 2050 will swell the population of the Dallas-Ft.Worth (16+ million) area to 30.4% of the total population for the entire state 22

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(55+ million). Houston’s numbers will increase to 14+ million, or 26.1% of the state’s total population.The Austin area will include 5+ million individuals, or 9.7% of the state’s total.The San Antonio area will house 4+ million people, or 7.0% of the state’s total. At the present time, the Austin area is growing the fastest, having shown a 37.3% 10 year percent growth in 2010. Dr. Gaines said,“Right now, everyone who leaves California wants to go to Austin!” As Texas doesn’t have the transportation systems (such as light rails) that are present in the eastern part of the country, Dr. Gaines predicts the development of smaller urban areas (clustered in perimeters of the major cities). These smaller urban areas will develop their own businesses and industries, shopping centers, medical facilities, and service centers perhaps even to the extent that our 4 major metropolitan areas become increasingly ‘irrelevant’. People aren’t going to be going into the cities to work or to get services or to shop once they get to the point that the trip to and from the big city is burdensome. Additionally, as jobs migrate ‘out’, needed services will follow. Right now, and in the future, Texas’ big need is for an educated and qualified labor force. The fastest growing group of unemployed people in Texas are those without a high school education. Today unemployment overall in Texas is 7%; however, the percentage of Texans without a high school diploma who are unemployed stands at 15%. All major metropolitan areas in Texas will soon become predominantly Hispanic. By 2017, Hispanics in the state will outnumber Anglos, and Hispanics will exceed 50% of the state’s total population by 2035. At the present time, 2 out of 3 migrants into the state are non-Anglo. Texas is the 2nd

PROJECTED PERCENT OF NET CHANGE ATTRIBUTABLE TO EACH RACE/ETHNIC GROUP 2010-2050 Asian/Other, 19.5%

Anglo, 2.1% Hispanic, 70.7%

Black, 7.7%

Sources: Texas State Demographer’s Office 2012 Projections 1.0 Scenario; Real Estate Center at Texas A&M University

TOTAL POPULATION BY COUNTY, 2010 most popular destination for ‘unauthorized immigrants’. During the next two decades minorities will account for approximately 2/3 of household growth …and half of all first-time homebuyers. By 2050 projected racial and ethnic percentages in Texas are expected to be: • Hispanic: 70.5% • Asian/Other: 19.5% • Black: 7.7% • Anglo: 2.1% Dr. Gaines says, “Texas is a great state to retire to!”. Between 2010 and 2050 Texas’ school-aged population and labor force will double while the number of retirees residing within the state will more than triple. The ‘job problem’ that Texas is looking at is this: the over 65s can’t afford to retire; simultaneously, the 18-29’s are looking to take over the old-folks’ jobs. Who says, ‘You can’t have my job because I can’t afford to retire!’ The labor force within the state will double, but the number of school-aged children is also expected to increase significantly. In 1934 when Social Security was created the ratio of employed

82 - 10,000 10,001 - 50,000 50,001 - 100,001 100,001 - 500,001 500,001 - 1,000,000 1,000,001 - 4,100,000

Source: U.S. Census Bureau 2010 Decennial Census

CHANGE OF THE TOTAL POPULATION BY COUNTY, 2000 - 2010 -3,200 - 0 1 - 10,000

BETWEEN 2010 AND 2050 TEXAS’ SCHOOL-AGED POPULATION AND LABOR FORCE WILL DOUBLE WHILE RETIREES WILL MORE THAN TRIPLE.

adults to retired adults was 14 to 1. It is predicted that soon that ratio will be 2 employed adults to every retired individual and says Dr. Gaines, “I want my 2 to work like sons of bitches!” Bottom Line: The number of people living in the state is increasing, as is the average age of Texans. And it’s important to remember that it’s not just that our numbers are growing. The number of cars in Texas’ urban areas will also increase. Says Gaines “I don’t know where we’re gonna park the cars; must less where we’re going to drive them!” He concluded, “We need to bear in mind that there are only 2 laws that ALWAYS work: one, change is constant, and two, well, that’s Murphy’s Law.”

10,001 - 50,000 50,001 - 100,000 100,001 - 700,000

Source: U.S. Census Bureau 2000 and 2010 Decennial Census

PROJECTED POPULATION CHANGE, TEXAS COUNTIES, 2010-2050 -6,200 - 0 1 - 2,000 2,001 - 10,000 10,001 - 100,000 100,001 - 1,000,000 1,000,001 -3,480,000

Jim Gaines, from the Real Estate Center at TAMU, focuses on housing and land development issues. He has more than 30 years experience in a broad array of professional real estate activities and has provided consulting services to numerous businesses, institutions, developers, and all levels of government organizations.

Source: Texas State Data Center 2012 Population Projections . 2000-2010 Migration Scenario

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whatâ&#x20AC;&#x2122;s happening in CRE Texas

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

Events Calendar Networking Deals& Anouncements redNEWS.com

events

C A L E N DA R

Southeast Texas ( H ou ston Area)

August 15 - thursday I R E M H a pp y H o u r Houston 5:00p - 8:00p w w w. i r e m h o u s t o n . o r g

August 2 - Friday C R E N L u nc h e o n Houston 11:00a - 1:00p w w w. h o u s t o n c r e n . c o m

August 16 - Friday CREN Breakfast Houston 7:15a - 9:00a w w w. h o u s t o n c r e n . c o m

August 5 - MONDAY C re a m L u nc h e o n Houston 11:00a - 1:00p w w w. c r e a m t x . c o m

August 20 - tuesday F B S C R Meetin g Sugar Land 8:00a - 9:00a w w w. f b s c r . c o m

August 7 - WEDNESDAY C R E W HOU S T O N L u nc h e o n Houston 11:30a - 1:00p w w w. c r e w h o u s t o n . o r g

August 21 - wednesday OConnor & Associates L a n d F o rec a st B re a k f a st Houston 7:30a - 9:00a w w w. p o c o n n o r . c o m

August 8 - THURSDAY H R B C B re a k f a st Houston 7:00a - 8:30a w w w. h o u s t o n r e a lt y. o r g August 8 - THURSDAY C C I M H o u st o n L u nc h e o n Houston 11:30a - 1:00p w w w. c c i m h o u s t o n . o r g August 14 - wednesday CREW - Tour Constellati on Field Sugar Land 6:00p - 10:00p

August 15 - thursday ACRP Breakfast Meeting Houston 7:00a - 8:30a w w w. a c r p. o r g

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August 22 - thursday B A C R E N L u nc h e o n Houston 10:30a - 1:00p w w w. b a c r e n . c o m August 29 - thursday CREN Happy Hour Houston City Club Houston 4:30p - 7:30p w w w. h o u s t o n c r e n . c o m

ACRP Breakfast Speaker ECONOMY & REAL ESTATE Thursday, August 15th, 2013 | 7:00am-8:30am Ted C. Jones, PhD., Sr. VP Stewart Title Junior League - 1811 Briar Oaks Lane ACRP & SIOR Members - No Charge Non-Members/Guests - $40

RSVP to michelle@acrp.org

August Luncheon Speakers:

John Breeding Uptown Houston District President, Uptown TIRZ/UDA Administrator

“The Latest Uptown News and Projects” August 2, 2013 11:00 AM - 1:00 PM Location: The Hess Club 5430 Westheimer Road, Houston, TX 77056

www.houstoncren.com

August 12, 2013 11:00a - 1:00p Speakers: Paul H. Layne Vice President, The Howard Hughes Corporation, “The Woodlands Development Update”

Carraba’s Italian Grill 25665 I - 45N | The Woodlands, TX www.creamtx.com

Networking

Educat ion

Technology

CCIM Houston/Gulf Coast and CREW Houston

August 29 - thursday ULI - Houston Luncheon suburban land rush Houston 11:30a - 1:00p w w w. h o u s t o n . u l i . o r g

Joint TOP GOLF Event September 25, 2013 1030 Memorial Brook Blvd. Houston, TX 77084 Contact Ginger Coleman at 713.783.0297 or ginger@amchouston.com /www.ccimhouston.org

Your real estate deserves real management. If you have a CCIM or RPA, Count on CPM professional to deliver real results. youacan fast® track the Certified Property Manager credential.

INVEST IN YOUR REAL ESTATE

® CPM MANAGEMENT CAREER

Central For optimal returns on your real estate portfolio, turn to a C P South M (CPM ). A CPM has: Texas Demonstrated experience in building value

JO N

ERTIFIED

ROPERTY

ANAGER®

® To find a CPM® z in your area, visit Estate Management Institute of Real z Pledged commitment to the highest ethical www.irem-dallas.org www.irem.org 713.783.9225 standards z Proven expertise in maximizing returns

IREM AUSTIN PRESENTS

ETH800 -Ethics for the Real Estate Manager September 10 th, 2013, 8:00am – 5:00pm For more information and registration visit iremaustin.org

(Aust in / s a n a n to n io A re a ) August 8 - Thursday CTCAR Property Info Exchange A u s t i n 7:30a - 9:00a w w w. c t c a r o n l i n e . c o m

www.iremaustin.org • 512-301-3311

COMMERCIAL “Commercial Lease Analysis, Comparison & Lease vs Own” 9 hours of MCE - Course #09-00-035-25248 - Provider #0287

Instructor Cliff Bogart, CCIM Visit www.ctcaronline.com for pricing & registration info

C TC A R

w w w. c tc a ro n line.co m

Market Analysis C1-102

Market Analysis for Commercial Inestment Real Estate 8/26/2013 - 8/29/2013 Austin, Texas Instructors:

Mark Cypert, CCIM & Todd D. Clarke, CCIM

Visit website for more information: www.ccimtexas.com CREW/BOMA Joint Luncheon

August 8 - Thursday CCIM Central Texas - FREE MCE A u s t i n 8:30a - 11:30a and 1:00p - 4:00p w w w. c c i m t e x a s . c o m

events

C A LEND A R

Upcoming Luncheon Speakers AUGUST 21

JAN TRUE

Vice President, Beck Ventures

“Present & Future–Valley View Center at Dallas Midtown ”

commercial real estate women

SEPTEMBER 18

D’ANN PETERSON

Business Economist, Federal Reserve Bank of Dallas

“An Overview of Conditions in the Regional Economy and the Outlook”

2 1 4.8 9 0.6 4 9 0 c r e w-d a l l a s.o r g

north Texas ( da l l a s / f t. Wo rt h A r ea)

August 13 – CREW San Antonio CREW San Antonio - Luncheon S a n A n t o n i o 11:30a - 1:00p w w w. c r e w - s a n a n t o n i o . o r g

August 5-8 - MON-THUR CCIM North Texas C1 101 Financial Analysis for Commercial Inv. RE Addison w w w. n t c c i m . c o m

August 15 – Thursday BOMA Austin Luncheon A u s t i n 11:30 a - 1:00 p w w w. b o m a a u s t o n . o r g

August 7 - wednesday North Texas CCIM Happy Hour D a l l a s 5:30p - 7:00p w w w. n t c c i m . c o m

August 15 - MCE Course Commercial Lease Analysis A u s t i n 8:30a - 5:30p w w w. c t c a r o n l i n e . c o m

August 7 - wednesday CREW Ft. Worth - Luncheon 11:30a - 1:00p w w w. c r e w f w. o r g

August 26 – 29 C1-102:Market Analysis CCIM Central Texas 8:30a -5:00p w w w. c c i m t e x a s . c o m

August 21 - wednesday CREW Dalllas - Luncheon 11:30a - 1:00p w w w. CREW - d a l l a s . o r g

August 28 Real Estate Council of San Antonio Economic Update 7:30a -9:00a w w w. r e c s a n t o n i o . c o m

August 28 - wednesday NTCAR Commercial Expo D a l l a s 4:00p - 8:00p w w w. n t c a r . o r g

You may register online at www.crew-sanantonio.org or you may contact: Tracy Ballard at 210.415.1300 or admin@crew-sanantonio.org

r e d NE W S . c o m

Out and About – Texas CRE Networking Summer hasn’t slowed down the number of available events

to attend and there has been “packed houses” at all of them! It’s been a lot of fun to catch up with old contacts and meet new ones. Keep an eye out for Karisa at the next event you attend to get your picture in the next issue of redNEWS! To view more photos go to: http://www.rednews.com/networking-event-photos/

n e t w o r k i n g

1. Nicole Johnson, Joe Guillen, Janie Snider, Hector Gonzalez and Tanya Anderson, all from Griffin Partners. Janie Snider is the IREM President-Elect. 2. Costume Contest winners from BMS Management, Inc. They called themselves Biker Mama Strikers and the team consisted of Christy Cobb, Kim Wells, Angie Wilson and Susan Mazewski. 3. Twee Truong, American Title Company; Jeanette Kew, Re/Max Memorial Town & Country – CCIM Event 4. Donnie Chang, ABC Realty Advisors; Howard Mayne, Mayne & Mertz – CCIM Event 5. The next generation of ACRP members! The Froehlich’s and Edmundson’s newest additions. 6. Andre Satchell, Duff & Phelps; James Decman, Hartman Income REIT, Inc. – CCIM Event

4 3

6 networkin g

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S o u t h E a s t T e x a s

n e t wo r k i n g n e t w o r k i n g

C e n t r a l S o u t h T e x a s

1. Gabriela Palavacini Dominguez; and Anita Dabney with Texas General Land Office – CREW Event 2. Deanna Bounds and Jennifer Carter, both with Studio 8 Architects – CREW Event 3. CREW Austin awarded $4,500 in scholarships as part of its UCREW Program. Pictured here are the young ladies that participated in the program. 4. Nick Nelson, CCIM of KW Commercial, Butch West, CCIM of Kennedy Wilson, Rob Eaves of NAI REOC Austin and Todd Kuhlmann, CCIM of CRE Training spelling “CCIM”! 5. Harry Gibbs, CCIM of KW Commercial & Mike Looney of 501 Studios – CTCAR Event

5 n e t w o r k i n g

N o r t h T e x a s

1. Janice Peterly, Lisa Stensgard, Matt Jones, Elissa Plotsky, Sally Longroy, Karen Hart, CREW Luncheon.

proper ty type

Region:

South east Texas DEALS PROP. SALE ADDRESS TYPE LEASE

1000 Main Street, Houston, Texas 25190 IH 45, The Woodlands, TX 7119 Highway 6 So, Houston, TX 13510 Ralph Culver, Rd, Houston,TX 1001 & 1003 Woodloch Forest Dr, The Woodlands, Tx 22921 Imperial Valley, Houston, Texas 8411 FM 1960, Houston, Texas 18300 Highway 6, Santa Fe, Texas 77517 Hammerly Blvd (between Hempstead & Wirt Rd),Hou (Storage ) Eagle Lake Storage, Humble, Texas 2000 West Loop South, Houston, Texas Highway 6 South, Missouri City 10648 West Little York Rd., Houston, Texas 4660 Pine Timbers, Houston, Texas 77041 3014 Farrell Road, Houston, Texas 77073 N. Sam Houston Parkway E, Houston, 77396 18501 Aldine Westfield Road, Houston, Texas 77073 Woodlands Gateway Plaza, NEC I45 & Rayford Rd,Spring, Tx SWC North Shepherd & West 15th, Houston, Texas 7304 I10 East, Baytown, Texas 77521 Rollingbrook Dr, btwn Garth Rd & Decker Dr, Baytown, Tx 17041 El Camino Real, Houston, Texas 3234 Spring Stuebner, Houston, Texas 77091 Noyce Road, Crosby, Texas 77532 2730 South Brahma Blvd., Kingsville, Texas 1306 S. Cherry Street, Tomball, Texas 77377 13001 Bay Area Blvd., Houston, Texas 2121 Highway 146 Bypass, Libery, Texas 440 Rayford Road, Spring, Texas 10648 West Little York Rd., Houston, Texas 455 E. Medical Center Blvd., Houston, Texas

off i c e retail la nd i nd u st r i a l a p a r t m e nt f a c i li t i e s hotel/restaurant sa le

le a se

ANNOUNCEMENTS Moody Rambin is pleased to announce the promotion of Kurt Kistler and Ryan Fassett to Vice Presidents of the Office Services division.

Kurt Kistler

Ryan Fassett

For details on deals and announcements go to redNEWS.com 30 redNEWS.com

proper ty type

Region:

NORTH Texas

off i c e retail

DEALS

la nd i nd u st r i a l

PROP. SALE ADDRESS TYPE LEASE

NEC Preston Road & Parker Road, Dallas Texas 32l State St, Southlake Town Square Shopping Ctr., Dallas 404 Houston Street, Dallas, Texas 4826 SW Loop 820, Ft. Worth, Texas 5238 South State Highway 360, Grand Prairie, Texas 14999 Preston Road, Dallas, Texas NEC West Illinois Ave & S. Zang Blvd, Dallas, Texas SEC N. Galloway Avenue & N. Town East Blvd., Mesquite, Tx 4002 Miller Road, Garland, Texas 2736 West 7th Street, Fort Worth, Texas 1135 Trinity Mills Road, Carrollton, Texas NWC Western Center Blvd & N. Riverside Dr., Ft. Worth, Tx 1380 Presidential Dr. Richardson, Texas 4002 Miller Road, Garland, Texas Watters Road & McDermott Drive, Allen, Texas 1411 Greenway Drive, Irving, Texas 5580 Peterson Road, Dallas, Texas 2217 Martin Drive, Bedford, Texas 8821 David Blvd., Keller Texas 8800 E. FM 916, Grandview, Texas 16060 Dallas Parkway, Dallas, Texas 6801 Gaylord Parkway, Frisco, Texas 2600 Network Blvd, Frisco, Texas 2591 Dallas Parkway, Frisco, Texas 1505 Wallace Street, Carrollton, Texas 75006 2244 Luna Road, Carrollton, Texas 75006 225 E John Carpenter Freeway, Irving, Texas 75062 1405 So. Blt Line Rd, 1221 So. Blt Line Rd, 1234 Lakeshore Rd SEC State Highway 121 & Old Denton Road, Lewisville, Texas NWC Highway 170 & Hwy 114, Roanoke, Texas SEC N. Tarrant Parkway & Parkwood Hill Blvd., Ft. Worth, TX 8850 Fair Oaks Crossing, Dallas, Texas 1025 Post & Paddock Road, Grand Prairie, Texas 720 Industrial Blvd., Grapevine, Texas 1100 Valwood Parkway, Farmers Branch, Texas 433 East Las Colinas Blvd., Irving, Texas Mid Cities Health Care Center, Grand Prairie, Texas Waterway Tower, Irving, Texas 1651 Hickory, Haltom City, Texas 2413 Gravel, Fort Worth, Texas Thanksgiving Tower, Elm & N. Ervay Streets, Dallas, Texas

a p a r t m e nt f a c i li t i e s hotel/restaurant sa le

ANNOUNCEMENTS Venture Commercial Real Estate has added four senior-level executives to the firmâ&#x20AC;&#x2122;s retail brokerage team. The new hires are Kevie Beard, McGregor Converse, Tim Henson and Don C. Miller.

Kevie Beard

McGregor Converse

Tim Henson

Don C. Miller

le a se

proper ty type

Region:

Central South Texas

off i c e retail

DEALS PROP. SALE ADDRESS TYPE LEASE

19298 Stone Oak Pkwy, San Antonio, Texas 507 Ranch Road 2147 West, Marble Falls, Tx (Go Kart )6955 NW Loop, San Antonio, Texas Lost Horizon Drive & Rain Creek Pkwy, Austin, Tx 610 Lanark Drive, San Antonio, Texas 6388 Old Pearsall, San Antonio, Texas 9101 Burnet Raoad, Austin, Texas 1123 N Main Street, San Antonio, Texas (CS) Corner of Tezel & Builbeau Road, San Antonio, Tx 137 Elm Street, Lockhart, Texas 1807 West Slaughter Lane, Austin, Texas 14327 Blanco Road, San Antonio, Texas 6770 Ingram Road, San Antonio, Texas 1635 NE Loop 410, San Antonio, Texas 12700 Oâ&#x20AC;&#x2122;Connor Road, San Antonio, Texas 340 E. Second Street, Austin, Texas

la nd i nd u st r i a l a p a r t m e nt f a c i li t i e s hotel/restaurant sa le

le a se

For details on deals and announcements go to redNEWS.com 32 redNEWS.com

classifieds

iNDEX

Freestanding Bldg. For Sale / Lease

2620 W. Sam Houston Pkwy

i • 1,127 SF Available • Former Bank

• 4 Drive-Thru Bays

• Access to Westheimer Westchase District

AUSTIN BUSINESS AND ECONOMY

TAO Interests, Inc. – Broker

Tim Opatrny • (713) 621-9841 www.taointerests.com • email: tim@taointerests.com In fact, Austin’s billion-dollar gaming industry is home to more than 130 game developers- including the industry’s biggest names: Disney Interactive’s Junction Point, and Electronic Arts’ subsidiaries Pogo.com and BioWare. There are also more than 100 startup companies, and they all combine to create thousands of interactive games, iPhone applications, console games, massive multiplayer Internet games, and much more.

big impact when it comes to business economics. Events like the South by Southwest Music, Film and Interactive Festivals and Conferences (SXSW), Rodeo Austin, the Austin City Limits Music Festival, and the Texas Relays – among other events, have all combined to produce significant economic gains for the city.

year. With Sixth Street, the South by Southwest Music and Film Festival each March, the Austin City Limits Music Festival each September, plus other musicrelated industry events like the International Music Products Association (NAMM) and the International Folk Alliance conferences, “music tourism” is a major industry.

Ready, Action!: Austin’s Film Industry Moviemakerdigital.com has ranked Austin fourth among its 2011 list of the Top 10 Best Movie Cities – and for good reason. The site says “Texas’ unofficial film capital,” has been a “thriving, moviemaker-friendly community for years, and home to the country’s most exciting auteurs” – and that’s the absolute truth.

Come Visit! Austin Tourism For starters, tourists bring a lot of business to Austin, they come to see the State Capitol, the LBJ Library and the Texas State History Museum – in fact, Austin is the fourth most-visited city in Texas. And, every year, more than 100,000 people flock to the Congress Avenue Bridge to watch 2 million Mexican free-tailed bats emerge for nightly feedings.

In fact, SXSW draws more than 100,000 attendees to downtown Austin for two weeks every March, and generates an estimated $100 million in economic impact. And, the annual Austin City Limits Music Festival, which celebrated its eleventh year in 2012, generates a whopping $73 million in economic impact for the city.

In the last 10 years, more than 600 major features, made-for-television movies, television series’ and short films have been produced here, in addition to hundreds of commercials and independent projects. Productions have included all three Spy Kids films, The Life of David Gale, Secondhand Lions, Once Upon a Time in Mexico, School of Rock, The Alamo, Miss Congeniality, Courage Under Fire, The Alamo, Hope Floats, Michael, and the critically acclaimed television series Friday Night Lights.

a d v e r t i s e r I N D E X

A. A. Realty Company

ACRP

26, 27

Greenberg & Co.

Caldwell Companies 3 ICSC Hispanic Markets Game On!: Austin’s Gaming & Digital Media Scene Across Texas, the gaming industry is estimated to put $177 million into the economy – and a lot of that is because of what’s going on right here in Austin.

Phase Engineering, Inc. 26

Port San Antonio

2 34

CCIM Central Texas

26, 27

Intnl. Church Realty

CCIM Dallas

26, 27

city’s vibrant IREM The Austin

26, 27

TAO Interests, Inc.

26, 27

IREM Dallas

26, 27

Tarantino Properties, Inc. 8, 9

IREM Houston

26, 27

Taylor EDC

26, 27

IREM San Antonio

26, 27

Texas Funding Corp.

26, 27

Jones Lang LaSalle

Westchase District

26, 27

Maple Development

Zarsky Industries

26, 27

Moody Rambin Interests 13

26, 27

Newport Sands, Ltd.

In fact, according to an analysis of Austin’s tourism industry commissioned by the Austin Convention & Visitors Bureau, 19.8 million people visited the Austin area in 2010, an increase of 16 percent from 17 million visitors in 2009. Annual visitor spending totaled $3.9 billion and tourism provided 37,900 jobs (a 2.7 percent increase), with employees earning $927 million (four percent increase) over the course of the year.

CCIM Houston Conroe IDC

With hundreds of gaming and digital media companies here, it’s an exciting sector of the entertainment industry that’s also one of the fastest growing. It’s no surprise that the Interactive segment of the annual South by Southwest Festival has grown by leaps and bounds since the festival began – with the Interactive portion of the festival selling out in 2011 and registrations continued to increase in 2012.

1, 18, 19

CREAM CREN

Guitars & Songwriters: Austin’s Music Scene Live music is part of Austin – and it draws millions of tourists and local fans each

CREW Dallas

CREW San Antonio

CTCAR

A U S T I N R E L O C AT I O N G U I D E

–

SUMMER

FA L L 2 0 1 3

music and film community has also earned it high rankings by MovieMaker magazine as one of the top American cities to be a filmmaker – including the top honor on the magazine’s Top 10 U.S. Cities to Live, Work and Make Movies list – citing Texas’ statewide incentive program that offers rebates for filming here.

Our studios, experienced work crews, variety of scenery, diverse natural environments, and such acclaimed directors as Robert Rodriguez, Richard Linklater,

redNEWS.com 33

Saying goodbye to the Astrodome we used to know…

Many Texans have made memories at the Astrodome. From Oilers and Astros games to the Houston Livestock Show and Rodeo and the many concerts over the years, it’s fair to say it’s a big part of Texas’ history. It is the 8th Wonder of the World for goodness sake. While we have watched it weather many storms over the years, even offering its roof as refuge for the victims of Hurricane Katrina, the debate whether to tear it down or repurpose it has finally been decided. It will be revitalized as a massive convention and exhibition space, promising “a new Dome experience.” Whichever side of the debate you are on, we wanted to take a moment to relish the memories. Enjoy!

l a s t P A G E

Groundskeepers dressed as astronauts kept the turf clean with vacuum cleaners between innings. (picture above)

Did You Know?

8th Wonder of the World Roy Hofheinz conceived the “dome idea” on a trip to Rome when he saw the use of giant velaria to shield the sun at the ancient Colosseum

Houston’s CRE Pete Beathard was the Oilers QB that threw the first TD pass in the Astrodome to none other than Houston’s CRE Mac Haik.

First artist: Judy Garland with The Supremes opening act

First baseball game played: Houston Astros defeated NY Yankees 2-1; Mickey Mantle had the first hit (a single) and home run

redNEWS.com

UHG 1(:6

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL

5($/ (67$7( ',5(&725<

PRSRT STD U.S. POSTAGE PAID Permit No. 2436 DALLAS, TX

5909 West Loop South, Suite 135, Bellaire, Tx 77401

FOCUS ON RETAIL October 14 – 15, 2013 ■ Fairmont Dallas ■ Dallas, TX

Hispanic Shoppers 50 million today - 134 million by 2050 Does your business plan capitalize on this growing market? If not, it should.

This exploding demographic is creating never before seen opportunities. Hear from experts with a proven track record in an interactive setting and network with key industry players. Discussions will include: ■ What is the most efficient way to enter these markets ■ Valuable take home information applicable to your business ■ How to gain the acceptance from the community ■ What kind of returns can you expect as a retailer or investor, and much more Don’t miss the opportunity to learn the keys to success in reaching this lucrative market. For information on the Program, Registration, Exhibiting, Sponsorship and the New Project Showcase visit www.icsc.org/2013HMN.