SEPTEMBER 2018
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
Eyes to the North: Development Boom in Houston’s I-45
Good to the Last Drop: WaterLogic Conserves Water and Saves Money
Right on the Mark: La Marque offers unique development opportunities
Northwest Houston
The Woodla
Tomball
S
Cypress
± 27 ACRES | TC JESTER BLVD.
Just north of FM 1960/Cypress Creek Parkway
Rosenberg
Katy
Sugar Land Richmond Rosenberg
±4.88 ACRES | FM 2218
SEC Fm 2218 and Town Center Blvd.
KRISTEN MCDADE Senior Director T: +1 713 469 4509 kristen.mcdade@berkadia.com
LAUREN GEARY Transaction Manager T: +1 346 444 8968 lauren.geary@berkadia.com
MATT DAVIS Associate T: +1 713 974 2407 matt.davis@berkadia.com
Northwest Houston
e ands
Spring
Humble
± 9.94 ACRES | FM 1960
FM 1960/Cypress Creek Parkway and Welcome Lane
League City
Houston
Baytown Pasadena
Pearland
Kemah
League City
MULTIPLE SITES AVAILABLE | I-45 NEQ I-45 and FM 518/W. Main St.
IN THIS ISSUE
20
14
24 22 42
Market
Sales & Leases 2, 3, 5, 9-13, 15, 17-19, 23, 25, 27
Services
Environmental Services 28, 43 Legal Services 18 Real Estate Loans 18, 44 Water & Irrigation Services 1, 20, 21
Scoop
Events 7, 30-32, 34, 36 Social 33, 35, 37 Bulletin 38-40
Features
Developments in 2017 Land Markets 8, 10 Eyes to the North 14, 16 Good to the Last Drop 20, 21 Right on the Mark 22 CIVIL FAIR PLAY How Updates to Floodplain Mapping will Impact Texas 24, 26 RAY'S BUZZ O’Connor & Associates Land Forecast 42
4
SEPTEMBER 2018
Medical IV Medical Arts Center IV St. TX St.Luke’s Luke’sWay, Way, The The Woodlands, Woodlands, TX For For Lease Lease
151,497SF,SF, 151,497 ClassA,A, Class MedicalOffice Office Medical Buildingonon Building CHISt.St.Luke’s Luke’s CHI Campus-The The CampusWoodlands Woodlands
ExpectedComple�onComple�on- December December 2019 Expected 2019 CHI ST
MAC I MAC IV MAC IV
MAC IV
CHI ST
MAC I
MAC I
CHI ST
LUKE’S
LUKE’ S
LUKE’ S
Surface parking and connected Surface parking and connected mul�ple story parking garage mul�ple story parking garage Easy Access and visibility from I-45 Easy Access and visibility from I-45 and FM 242 and FM 242 A�er Hours access via Keycard A�er Hours access via Keycard
MAC II
MAC II
MAC II
CHI Lakeside CHI Lakeside
CHI Lakeside
MAC III
MAC III
MAC III
DEMOGRAPHICS
Popula�on
Popula�on 2018 Total Popula�on 2018 Total 2023 Projected Popula�on Popula�on 2023 Projected Pop Growth Popula�on 2018-2023 Pop Growth 2018-2023
DEMOGRAPHICS 1 mile 3 mile
5 mile
1 mile 3,599
3 mile 40,395
5 mile 125,115
3,599 4,291
40,395 47,135
125,115 144,824
4,291 19.23%
47,135 16.69%
144,824 15.75%
19.23%
16.69%
15.75%
For Information: For Information: 832-266-6404 832-266-6404
Letter from the Publisher
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
PUBLISHER
Ginger Wheless ginger@REDNews.com
EDITOR
Margie Gohmert info@REDNews.com
STAFF WRITERS
Janis Arnold janisarnold1@gmail.com Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDNews.com
Dear Readers,
We’ve focused on land this month and it looks like blue skies ahead for the Texas land market and all of you land brokers.
Dr. Charlie Gilliland noted at A&M’s Annual Outlook for the Texas Land Markets that the average value of an acre of Texas rural land jumped 4.5% from 2016 to 2017 and this marks six consecutive years of land value increases.
According to Clint Hankla, Director of Lee and Associates, the land market in the Houston Metro area is on a “sugar high”and it’s a good time to be a seller. And looking north, Brandi spoke with Cullen Realty Group’s Meredith Cullen and Jay Shaw, as well as Shawn Gross with Gross Investments, regarding the I45 northward development trends.
Charlie Racusin talked to us about his “secret sauce” to water conservation and we also heard about development opportunities in La Marque. We’re excited about our inaugural Women in Real Estate Summits in Houston on September 11th and in Dallas on September 12th. Not only will you enjoy a hot breakfast while listening to a group of very accomplished ladies in the commercial real estate industry, you’ll also come away with four hours of MCE credit under your belt. We don’t discriminate, guys. Come join us! Next month we’ll be featuring the industrial/office & land markets and you’ll hear about the “new west Houston”. Have a fabulous Labor Day holiday!
CONTRIBUTING WRITERS Robert Pavur, PE, CFM
MANAGING DIRECTOR
Benton Mahaffey accounting@REDNews.com
EMARKETING DIRECTOR
Rahul Samuel emarketing@REDNews.com
CREATIVE DIRECTOR
Steven Smith digital@REDNews.com
SALES
Ginger Wheless ginger@REDNews.com
PRINT & DIGITAL DISTRIBUTION
REDNews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US. Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387
TOTAL QUALIFIED ONLINE REDNews DISTRIBUTION: 50,458 REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 2537 S. Gessner, Ste. 126 Houston, TX 77063
Ginger Wheless
6
SEPTEMBER 2018
Houston Speakers Include:
Susan Hill, Senior Managing Director, HFF Elke Laughlin, President, Laughlin Consulting Group Edna Meyer-Nelson, President & CEO, The Richland Group Melanie Edmundson, Principal, Phase Engineering Pat Duffy, President Houston, Colliers International Jan Sparks, Executive Managing Dir/Structured Finance, Transwestern Sandra Paige, COO, Veritas Title Gary Maler, Director, Texas A&M Real Estate Center Brandi Smith, Real Estate Writer, REDNews Cheryl Gajeske, Principal, PGAL Lori Bryant, Managing Director Asset Services, CBRE Lynny Osenbaugh, MAI, CCIM, President, Osenbaugh & Associates Michelle Wogan, Executive Vice President Office Leasing, Transwestern Christie Amezquita, Partner, SHOP Companies
MORE INFORMATION and REGISTRATION: www.resummits.com/wireHOUSTON Dallas Speakers Include:
Leigh Richter, Executive Vice President, Bradford Diane Butler, Principal, Butler Associates Paula Beasley, Partner, Farrow-Gillespie Heath Witter LLP Maureen Kelly Cooper, Executive Director, Cushman & Wakefield Susan Arledge, President Site Selection, esrp Liz Trocchio Smith, Founder & CEO, The Trocchio Advantage Laura Hoffmann, Attorney, Winstead Kennis Ketchum, President, Portfolio Development Julie Young, General Manager, Crescent Real Estate Equities, LLC Ka Cotter, Director, Blinksale Beth Lambert, Executive Managing Director, Cushman & Wakefield Kathy Permenter, Co-Managing Partner, Younger Partners Kyla Sadau, Superintendent, Scott & Reid General Contractors, Inc Coni Hennersdorf, Partner, CODA Consulting Group, LLC Michele Langenberg, Vice President Asset Management, TIER REIT
MORE INFORMATION and REGISTRATION: www.resummits.com/wireDALLAS To Learn about how your company can sponsor this event contact: Jeff Johnson | Real Estate Summits | 952-405-7780 | jeff.johnson@resummits.com Ginger Wheless | REDNews | (713) 661-6300 | Ginger@rednews.com
Course #34806 TREC Provider #10163 TREC Instructor #4153
Developments in 2017 Land Markets Charles E. Gilliland, Ph.D, Texas A&M Real Estate Center
BY CHARLES E. GILLILAND, PH.D, TEXAS A&M REAL ESTATE CENTER Reprint from Texas Rural Land Value Trens 2017/ Annual Outlook for Texas Land Markets
Rebounding activity in the oil patch reinvigorated the statewide land market. Posting a surprisingly strong year end result at $2,644 per acre, a 4.46 percent expansion from 2016 prices and the strongest growth since 2014. The 6,272 reported sales topped 2016 totals by 577 sales.
Driven in part by remarkable developments in energy-dominated areas, overall Texas statewide results continued to post price increases. However, market conditions in some regions varied where weak results pointed to market adjustments in three areas: the Panhandle and South Plains, West Texas, and Austin-Waco-Hill Country where prices ebbed for various reasons.
FAR WEST TEXAS Fueled by unexpected strong demand for sand mining operations in this area, prices in this region soared to unheard of levels. Ranch purchases at extremely high prices to establish 23 operations to supply frac sand for the Permian Basin drilling boom pushed the regional price to a record high of $791 per acre, an enormous 32.5 percent increase. Very high bonus payments for mineral leases and purchases of land to secure water rights for municipalities added to the pressure on prices.
SOUTH TEXAS Battered by the remarkable drop in oil prices, this region, home to the most lucrative Eagle Ford shale play, saw prices ebb for several years. However, markets appear to have turned the corner by posting a strong 12.1 percent price rise in 2017. New energy activity in the Eagle Ford may be responsible for this strong result producing a price of $3,824 per acre with an expansion of activity to 581 sales. 8
SEPTEMBER 2018
NORTHEAST TEXAS In Northeast Texas, prices grew 6.72 percent in 2017, reaching an all-time high of $3,969 per acre. Strong fundamental in the D/FW economy supported robust demand for land throughout the area. The 2,234 sales marked a 22 percent increase over 2016 volume.
GULF COAST – BRAZOS BOTTOM The optimism energizing the oil patch boosted prices in this area a substantial 5.22 percent despite the Continued on Page 10 >
PRIME DEVELOPMENT TRACTS FORT BEND COUNTY Commercial or Residential Development in Excellent Locations •5
PL
EA
K
1
2
69
FR O
NT AG E
1
RD
• 192 Acres • 1,990 ff on Pleak Road • Unrestricted & Ag-Exempt
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
R
5
10
EA
K
2
PREMIUM CORNER • IH 69 & Spur 10 • 35.264 Acres • Easy Access to IH-69 Spur 10
4
36
1
6
N
E
6
BO
O TH
SH
36
FM
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
LI
3
RD
PLEAK ROAD AT FM 2977 •Great Development Site •102.224 Acres •1,625 FF on Pleak Road • Unrestricted & Ag-Exempt
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
3
PL
FM
U
RD
SP
29 77
IH
PLEAK ROAD MINUTES FROM BRAZOS TOWN CTR
4
FM
36
77
1
CORNER FM 361 & FM 2977 • Great For Residential & Mixed Use Development • 151 Acres • Easy access to Richmond/ • Rosenberg/Houston
BOOTHLINE ROAD MINUTES FROM PROPOSED FORT BEND PKWY • 767.678 Acres • 4,169 FF on Boothline Road • Unrestricted & Ag-Exempt • No Easements, Minimal Flood Plain
7
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
KNOLLE RD
FM
29
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
36
1
FM
FM 361, SE of HWY 36 • Great For Residential Development • 116.61 Acres • 1,300 FF on FM 361 • Unrestricted & Ag-Exempt
COUNTRY HOME or LEISURE RANCH • 63.27 Acres • Fenced, Water Well, Pond & Creek, Hay Field • 1,104 FF Knolle Road
The information contained herein was obtained from sources deemed to be reliable. MapRight Services makes no warranties or guarantees as to the completeness or accuracy thereof.
Contact: Steve Bilicek, ALC 281-497-2774 steve@texasagrealty.com
Contact Texas Ag Realty, LLC for Farms, Ranches, and Hunting Properties Throughout Texas
7
Developments in 2017 Land Markets < Continued from Page 8
aftermath of hurricane Harvey. However, the $5,727 price per acre still failed to match levels of 2015 markets. Sales volume of 646 trailed 2016 totals.
PANHANDLE AND SOUTH PLAINS A second quarter increase halted the retreat in prices logged for the first quarter. However, the third quarter faltered slightly only to melt into a substantial retreat in the fourth when price plummeted 6.02 percent in year-to-year comparisons. At $1,089 per acre, the fourth quarter fell below both the first and the third quarter prices. Volume expanded to 394 sales, up substantially from 314 in 2016. The lack of a consistent trend in this area reflects the fact that experiences differed with type of land. For example, good quality irrigated land with strong water still sees strong demand; nearby dryland acreage not so much.
GREAT INVESTMENT PROPERTY IN RAPIDLY DEVELOPING AREA MADISONVILLE
RV PARK
LAUNDROMAT LAUNDROMAT CONROE
LAUNDROMAT & NEW 13 SPACE RV PARK ON TWO ACRES • Corner of SH 19, FM 980 & FM 405 • North end of Lake Livingston, home to several thousand weekend & vacation homes
• Existing Laundromat • 13 RV & 4 Commercial Pad Sites recently added • Rapidly developing distribution area around I20 East of Dallas
Contact Walter White 936-293-0367 waltersells24x7@yahoo.com
WEST TEXAS Markets in 2017 registered price declines dropping 3.80 percent below 2016. While prices declined, the sales volume increased to 688 sales. This market gave up all of its 2017 gains, settling below the 2016-second quarter levels. The decline produced a price of $1,416 per acre.
AUSTIN—WACO – HILL COUNTRY The three-quarter long central Texas market retreat continued but at a reduced rate at the end of 2017. The 1.08 percent drop indicated a nearly flat market overall and likely resulted from an increased focus on land at the furthest distances from Austin and San Antonio. The $3,466 per acre represents the lowest regional price since the end of 2015. Sales volume expanded 6 percent to 1,692 sales.
FOR SALE - PRIME
FOR SALE - PRIME LOCATION INVESTMENT OR NEW REDEVELO INVESTMENT OR NEW REDEVELOPMENT OPPORTUNITY PR 37 @ FM 1283, NE PR 37 @ FM 1283, NE QUADRANT 557 CLINE RANCH ROAD, LAKEHILLS, TX., BANDERA COUNTY 78063-6311 557 CLINE RANCH ROAD, LAKEHILLS, TX +/- 392 ACRES OF LAND Over looking Medina Lake PR 37 @ FM 1283 +/- 392 Acres of Land Overlooking Medina Lake +/- 392 ACRES OF LAND Over looking Medina Lake PR 37 @ FM 1283 PR 37 @ FM 1283
FOR SALE - PRIME LOCATION INVESTMENT OR NEW REDEVELOPMENT OPPORTUNITY
PR 37 @ FM 1283, NE QUADRANT 557 CLINE RANCH ROAD, LAKEHILLS, TX., BANDERA COUNTY 78063-6311
sheds and care quarters. The site and views are SITE LOCATION absolutely Beautiful! • Lakehills, Texas, Bandera County • Location is in proximity to the robust new POSSIBLE BEST USES developments of NW San Antonio (+/-20 minutes • Re-purpose for Ranchettes to San Antonio/La Cantera, UT San Antonio, Fiesta • RV Park Rentals, campgrounds Texas and Sea World) +/392 ACRES OF LAND Over looking Medina Lake • Quick access to I-10, Loop 1604 and Hwy 151 • Hunting Lodge • 45 minutes downtown San Antonio and the • Bed & Breakfast PR 37 @toFM 1283 Riverwalk AREA AMENITIES • DANCING BEAR RANCH, a private gated community SITE DETAILS featuring Hill Country Estates • Over 1,000’ feet of frontage on PR37 • Site is adjacent and over looking 2,500 acres of • Well water served, may be increased to +/-150 gpm or moreSITE LOCATION Medina Lake family homes (occupied month to • In Bandera Independent School District, STAAR • Access through PR 37 month) barns, storage sheds and care • Lakehills, Bandera County recognized • Elm Creek runs throughTexas, site outflows to Medina Lake site and views are abso• Wells Fargoquarters. Bank, DollarThe General • Terrain provides beautiful rolling hills and bluffs Location is in proximity the robust lutely Beautiful! • Fenced,•very private settings, two singleto family new developments NWstorage San Antonio Asking Price: $11,000.00 per acre, seller may divide homes (occupied month to month) of barns,
sheds and care quarters. The site and views are SITE LOCATION POSSIBLE BEST USES minutes to San Antonio/La Canabsolutely Beautiful! •(+/-20 Lakehills, Texas, Bandera County tera, UT San Antonio, Fiesta Texas and • Re-purpose for Ranchettes Co r trobust i n a s newC o m m e r C i a l r e a l e s ta t e •Sea Location the World) is in proximity to • RV Park Rentals, campgrounds POSSIBLE BEST USES developments of NW • Quick access to I-10, Loop 1604San and Antonio (+/-20 minutes JULIAN R. CORTINAS • Hunting Lodge CALL/TEXT DIRECT: 832-206-7501 Hwy • Re-purpose for Ranchettes to151 San Antonio/La Cantera, UT San Antonio, Fiesta •DRIVE Bedquarters. &SUITE Breakfast 5271 MEMORIAL 110 HOUSTON, TEXAS 77007 EMAIL: JRCTXRE@GMAIL.COM • 45Texas minutesand to downtown San Antonio SITE LOCATION sheds and care The site and views are • RV Park Rentals, campgrounds Sea World) This information is from sources we believe to be reliable, we make no representations or warranties, expressed or implied, as to accuracy of the information. Square footage or age are approximate. absolutely Beautiful! • Lakehills,and Texas, Bandera County the Riverwalk Buyer/Tenant must verify all information andAREA all risk for any inaccuracies or cost involved. Price and availability are subject to change without further notice from owners or there agent. AMENITIES • Location • is in proximityaccess to the robust • Hunting Lodge Quick tonewI-10, Loop 1604bears and Hwy 151 developments of NW San Antonio (+/-20 minutes POSSIBLE BEST USES SITE DETAILS • DANCING BEAR RANCH, a private • 45 minutes toAntonio, downtown Antonio and the • Bed & Breakfast to San Antonio/La Cantera, UT San Fiesta •San Re-purpose for Ranchettes gated community featuring Hill • RV Park Rentals, campgrounds Texas and Sea World) • Over 1,000’ feet of frontage on PR37 Riverwalk Country Estates • Hunting Lodge • Quick access to I-10, Loop 1604 and Hwy 151 • Well water served, mayand bethe increased• Bed to & Breakfast • 45 minutes to downtown San Antonio • Site is adjacent and over lookingAREA AMENITIES Riverwalk+/-150 gpm or more 2,500 acres of Medina Lake • DANCING BEAR RANCH, a private gated community SITE DETAILS AREA AMENITIES • Access through PR 37 SITE DETAILS • DANCING BEAR RANCH, a private gated community • In Bandera Independent School District, featuring Hill Country Estates • Over 1,000’ feet of frontage on PR37 • Over 1,000’ feet of frontage on PR37 Hill Country Estates • Elm Creek runs through site outflows featuring to STAAR recognized • Site is adjacent and over looking 2,500 acres of • Well water served, may be increased to +/-150 gpm • Well water served, may beMedina increased to +/-150 gpm • Site is adjacent and over looking 2,500 acres of or more Medina Lake Lake • Wells Fargo Bank, Dollar General • Access •through PR 37 • In Bandera Independent School District, STAAR Medina Lake or more Terrain provides beautiful rolling hills recognized • Elm Creek runs through site outflows to Medina Lake and bluffs ASKING PRICE • Access through PR 37 • In Bandera Independent School District, STAAR • Terrain provides beautiful rolling hills and bluffs • Wells Fargo Bank, Dollar General • Fenced,• very privatevery settings, two single family two single Fenced, private settings, $11,000.00 per acre,Lake seller may divide recognized • Elm Creek runs through site outflows to Medina homes (occupied month to month) barns, storage Asking Price: $11,000.00 per acre, seller may divide • Wells Fargo Bank, Dollar General • Terrain provides beautiful rolling hills and bluffs • Fenced, very private settings, family C o r ttwo i n single as C ommerCial r e a l e s ta t e Asking Price: $11,000.00 per acre, seller may divide homes (occupied month to month) barns, storage
JULIAN R. CORTINAS CALL/TEXT DIRECT: 832-206-7501 5271 MEMORIAL DRIVE SUITE 110 HOUSTON, TEXAS 77007 EMAIL: JRCTXRE@GMAIL.COM
Cortinas
CommerCial
This information is from sources we believe to be reliable, we make no representations or warranties, expressed or implied, as to accuracy of the information. Square footage or age are approximate. Buyer/Tenant must verify all information and bears all risk for any inaccuracies or cost involved. Price and availability are subject to change without further notice from owners or there agent.
FOR SALE ± 5.968 ACRES DAC REALTY GROUP, INC
For Sale UNDEVELOPED ± 5.968 Acres LAND @ HOBBY AIRPORT
COMMERCIAL REAL ESTATE SERVICES
Undeveloped Land @ Hobby Airport
77061
Hansen Road
MONROE B LVD
HOUSTON, TX 7701 Monroe7701 Road,MONROE Houston,ROAD, TX 77061
DAC REALTY GROUP, INC
Tallyho Road
COMMERCIAL REAL ESTATE SERVICES
Description:
William P. Hobby Airport, • 5.9680Near Acres Location: just North of Airport Boulevard.
• AcrossTract from Hobby I - 1.3209 Acs Airport (57,540 SF)
Undeveloped Land Size:
Tract II - 4.6471 Acs (202,428 SF)
Price:
Call for Pricing
Utilities:
All available at Site.
WILLIAM HOBBY AIRPORT
-. 5.9680 Acs (259,268 SF) • Ready Approx. for Development
• All Utilities to Site
For Sale ± 5.968 Acres Undeveloped Land @ Hobby Airport
575C DAC REALTY GROUP, INC
COMMERCIAL REAL Traffic Counts: See Page 2 ESTATE SERVICES
2017 Taxes:
7701 Monroe Road, Houston, TX 77061
Commercial Real Estate Brokerage Firm
- $12,395.26
natali@dacrealty.com
FOR INFORMATION CONTACT: DON A. CZARNESKI & NATALI CZARNESKI 600 N. Shepherd Drive, Suite 301 Houston, TX 77007 (713) 973-2100 Fax: (713) 973-2166 don@dacrealty.com natali@dacrealty.com
Existing Avis Lease Hospitality, Parking, Retail, Office and Industrial Usage
This information above 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, opinions, assumptions or estimates used are for example only and do not represent the current or 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 careful, independent investigation of the property to determine to your satisfaction to suitability of the property for your needs. This property is subject to prior sale, change in price, or removal from the market without notice. All information shown in this proposal, while based upon information supplied by the owner and other sources deemed to be reliable, is not in any way warranted by DAC Realty Group, Inc.
Hansen Road
MEDICAL OFFICES AVAILABLE
HCAD
Pasadena ISD - $13,078.15 don@dacrealty.com Total Taxes - $25,473.41
Comments:
GReenberg & Company
Call for Pricing Tel: (713) 973-2100
Key Map Page:
Retail/Office Space Available| Great Locations
20,000 SF AVAILABLE
Major Thoroughfare | Great Visibility
Tallyho Road
Description: Location:
Near William P. Hobby Airport, just North of Airport Boulevard.
Undeveloped Land Size:
Tract I - 1.3209 Acs (57,540 SF) Tract II - 4.6471 Acs (202,428 SF) Approx. -. 5.9680 Acs (259,268 SF)
6699 Chimney Rock | Houston TX 77081 Price:
MOVE-IN READY | MONUMENT SIGNAGE Utilities: • Great Visibility • Major Thoroughfare
Chimney Rock Doctors Center is a medical office Key Map Page: building located in the prestigious Bellaire submartket. Located less than 5 minutes from the Galleria submarket Traffic Counts: and approximately 7 minutes the Texas Medical Center. 2017 Taxes:
1,584 -1,602 SF AVAILABLE
421 Fannin St. | Houston TX 77057
Call for Pricing
RETAIL/OFFICE SPACE AVAILABLE Location • Major Traffic
All available at Site. • Excellent 575CThis
is a two-story Retail/Office building with immediate access to I-69 East, I-45 South and I-10 North. The See Page 2building is encased with framed windows giving of premier Retail/ Medical /Office space. HCADhigh visibility - $12,395.26 PasadenaBuilding ISD - $13,078.15 Size: 20,000 Total Taxes - $25,473.41
5900 Memorial Dr. | Houston TX 77007 RETAIL/OFFICE SPACE AVAILABLE • Major Intersection • Easy Access to Downtown
This three-story Office/Retail Building was built in 1981 and renovated in 2005. It has a three level parking garage with building identification and one elevator. This property is on the corner of Memorial and Westcott.
FOR0.3 INFORMATION SF | Lot Size: Acres CONTACT:
1,162 - 4,597 SF AVAILABLE
DON A. CZARNESKI & NATALI CZARNESKI 600 N. Shepherd Drive, Suite 301 Houston, TX 77007 Comments: Existing Avis Lease The information contained herein was obtained from sources deemed reliable; however, no guarantees, warranties or representations are made as to the completeness or accuracy thereof. The presentation of this estate973-2166 information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice. (713) 973-2100 Fax:real(713) Hospitality, Parking, Retail, Office and don@dacrealty.com natali@dacrealty.com Industrial Usage
Price: Call For Details
Price: Call For Details
5959 Richmond Avenue, Suite 440 Houston, TX 77057 WWW.GREENBERGCOMPANY.COM
Price: Call For Details
Broker Contact: David Greenberg | Phone: 713-778-0900 EMAIL: DAVID@GREENBERGCOMPANY.COM
This information above 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, opinions, assumptions or estimates used are for example only and do not represent the current or 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 careful, independent investigation of the property to determine to your satisfaction to suitability of the property for your needs. This property is subject to prior sale, change in price, or removal from the market without notice. All information shown in this proposal, while based upon information supplied by the owner and other sources deemed to be reliable, is not in any way warranted by DAC Realty Group, Inc.
NEED NEEDTO TOTRACT TRACTDOWN DOWN GREAT GREATSITES? SITES?
• • • • •
572572 Acres Acres For For SaleSale FM FM 2855 2855 nearnear FM FM 529529
• 1,851’ 1,851’ of frontage of frontage along along FM 2855 FM 2855 •Unrestricted Unrestricted •Not Not within within the FEMA the FEMA flood flood plainplain •Great Great development development spotspot •Uses: Uses: Commercial, Commercial, Industrial Industrial or or Residential Residential development development
Acres 373373 Acres For For SaleSale 1486 - Montgomery FM FM 1486 - Montgomery • • • •
• 1,912’ of frontage along FM 1486 1,912’ of frontage along FM 1486 • Unrestricted Unrestricted 2 • miles 2 miles fromfrom Bluejack Bluejack National National GolfGolf Community Community •Fantastic Fantastic development development potential potential
• • • •
61.08 Acres 61.08 Acres For For SaleSale US-59 North US-59 North
• 1,259’ 1,259’ of frontage of frontage along along US-59 US-59 •Unrestricted Unrestricted & minutes & minutes away away fromfrom Kingwood Kingwood •Outside Outside the flood the flood plainplain •3 miles 3 miles fromfrom the Grand the Grand Parkway Parkway
Contact: Contact: Keith Keith Edwards, Edwards, CCIM, CCIM, SIOR SIOR Contact: Contact: Keith Edwards, CCIM, SIOR Contact: Keith Edwards, CCIM, SIOR Contact: Keith Edwards, CCIM, SIOR Keith Edwards, CCIM, SIOR
SITE SITE We st
Teas Nu Teas Nu rsery R rsery R oad oad
• • • •
113 Acres 113 Acres For For SaleSale North of 3083 I-45I-45 North of 3083
1,900’ • 1,900’ frontage frontage on south on south bound bound I-45 I-45 feeder feeder Great • Great visibility visibility fromfrom I-45 I-45 Outside • Outside the 500 the 500 yearyear floodflood plainplain No • restrictions No restrictions
• • • •
We Gre st Gre en e Roa n Roa d d
Antoine Drive
SITE SITE
113 Acres 113 Acres
Antoine Drive
League League Line Line
12 Acres 12 Acres
4170 W Green Road 4170 W Green Road North Houston North Houston
• Quick Quick access access to SH to249 SH 249 & I-45 & I-45 •OneOne block block off Beltway off Beltway 8 8 •16,800 16,800 SF building SF building situated situated on 12 on 12 acres acres •100% 100% air conditioned air conditioned building building
• • • •
Contact: Keith Keith Grothaus, Grothaus, CCIM, CCIM, SIOR SIOR Contact: Keith Edwards, CCIM, SIORContact: Contact: Keith Edwards, CCIM, SIOR
HOUSTON HOUSTON
THE THE WOODLANDS WOODLANDS CaldwellCos.com CaldwellCos.com
2,000 Acres 2,000 Acres For For SaleSale 1462 FM FM 1462
•2.5 miles 2.5 miles of frontage of frontage on FM on1462 FM 1462 •1.5 miles 1.5 miles frontage frontage on Cow on Cow Creek Creek RoadRoad •2 creeks, 2 creeks, 5 tanks 5 tanks •Surrounded Surrounded by mature by mature acreage acreage communities communities of Pecan of Pecan BendBend and Pecan and Pecan BendBend South South
Contact: Contact: Mark Mark Terpstra Terpstra
COLLEGE COLLEGE STATION STATION 713.690.0000 713.690.0000
Eyes to the north The development boom in Houston’s I-45 corridor
Shannon League Director of Marketing for Grand Central Park
Shawn Gross Gross Investments
Meredeth Cullen Cullen Realty Group
Jay Shaw Cullen Realty Group
BY BRANDI SMITH
Grand Central Park is a master-planned community by Johnson Development Corp., one of the nation’s most respected residential real estate developers in the nation.
The sky is blue, save for a few puffy cumulus clouds that dot the horizon. Ahead lay miles of walking trails under a forested canopy, offering a chance for you to connect with nature. The experience is one you could find at any number of Texas state parks, but it’s also an opportunity available for residents of Grand Central Park, a 2,046-acre master-planned community in the Houston suburb of Conroe. “The development team went to great lengths to preserve the natural beauty of the property,” notes Shannon League, director of marketing for Grand Central Park. “When you look at its open spaces, nature preserves and six natural lakes including the 80-acre Grand Lake, there’s really nothing like it.” Grand Central Park is a master-planned community by Johnson Development Corp., one of the nation’s most respected residential real estate developers in the nation. The Houston-based company, which is behind lauded projects including Sienna Plantation and Cross Creek Ranch, purchased the property from the Sam Houston Area Council of the Boy Scouts of America. “For more than six decades, thousands of campers flocked to the property to enjoy the camaraderie of scouting,” League adds. “However, as the area became increasingly urbanized, the Boy Scouts determined a better camping experience could be achieved at a more rural location.” The Boy Scouts wanted property farther from the nation’s fourth-largest city (its new 500-acre Camp Strake, near Evergreen, is set to open in late 2019), so it put its giant parcel, nestled right along the I-45 corridor, on the market. In July 2013, the organization selected Johnson Development to purchase the site. “At the time, it was one of the largest available land parcels within the greater Houston area, obviously a very prized property,” League says.
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When you think of the fastest growing cities in Texas, Conroe might not be at the top. However, in 2016, the U.S. Census Bureau says its population saw a 7.8 percent increase, a growth rate more than 11 times greater than the rest of the country. Combined with The Woodlands and Spring, the city has helped turn what used to be simply the most direct route between Houston and Dallas into a booming development corridor. “For years, The Woodlands served as a bedroom community for Houston. People lived in The Woodlands
because they wanted a better quality of life than they felt they could get in the city, but they drove to Houston to work,” says Shawn Gross of Houston-based Gross Investments. “What happened over the past few years is that The Woodlands developed a strong economic core of its own. It’s now its own center of gravity.” He points out that people started driving to jobs from south of The Woodlands, then west and east. Now, Gross says, they’re starting to settle up north. Howard Hughes Corporation clearly saw that pattern, as well as the area’s potential, breaking ground on its 2,000-acre, 4,500-residential development, The Woodland Hills, last fall. The project spans from Conroe into Willis, less than 15 miles from The Woodlands. Likewise, Signorelli Co., the developer of Valley Ranch, has plans to build Granger Pines in Conroe, a 450-acre subdivision with more than 1,300 single-family homes. Continued on Page 16 >
SAN ANGELO, TX Strong Economy & Low Cost of Doing Business EXCELLENT TRUCK STOP SITE ON MAJOR THOROUGHFARE LUBBOCK
BIG SPRING
MIDLAND
The closest truck stop is 100 miles to Big Spring & 175 miles to Johnson City • 15.14 Acres on North US 87 • Cleared & ready to develop • Full Utilities • Close to Walmart, McAlisters & across the street from golf course
SAN ANGELO AUSTIN
JOHNSON CITY
SAN ANTONIO
Junction city connecting Austin, Midland, San Antonio & Lubbock CLEARED & READY FOR DEVELOPMENT
7
th
For Best Cities for Jobs
Prime Single or MultiFamily Development Site – Foster & Cox Lanes
11.4%
• 91+/- acres surrounded by city limits – can be annexed
28 th
• Residential to the north & south of property
Annual GDP Growth
in Job Growth %
16
Below National Avg Cost of Doing Business
For More Information, Contact: Wesley Crooks 325-656-1400 Wesley@wcc.net
Eyes to the north The development boom in Houston’s I-45 corridor
< Continued from Page 00
“We’ve been interested and have worked in The Woodlands now for off and on for quite a while and had looked at developments in the late ‘90s and early 2000s. But I think the latest round of interest came with Exxon,” Gross says, referencing ExxonMobil’s decision to put its 10,000-employee, 385-acre, 20-building corporate campus in The Woodlands. Roughly two and a half years ago, Gross bought 37.50 acres at the intersection of I-45 and River Plantation Drive in Conroe. The property is a developer’s dream with more than 1,500 feet of freeway frontage and multiple access points, opening it up to the potential of residential, commercial and retail use. “With the strength of the area, we just wanted to grab the parcel so that we could determine how best it might be used,” says Gross. “My particular interest in the parcel is centered around its flexibility.” His eye for detail is heralded by Meredith Cullen and Jay Shaw of Cullen Realty Group, which is co-brokering the River Plantation lot for Gross and has worked with him on several other properties. “With most buyers, we can establish their model for what they want in one conversation in an hour or less.
With Shawn, there’s no ‘model.’ It took a few meetings for us to wrap our head around that. It’s not just that he’s intellectual about it,” explains Shaw. “His research level reminds me of Warren Buffett. Buffett is known to not just be lucky in stocks; he studies, reads and gets deep into the weeds. Shawn is the same way with property. That’s how he can differentiate from one tract to another, seeing things even people in the business may not notice.”
Working with Gross has been eye-opening for Cullen, who bought and sold properties with his father, Roy Henry Cullen, for many years.
Cullen echoes that, adding, “Shawn digs into it. For this parcel, he studied the path of growth, looking at how much was developed to the north and south of the tract in the past three to five years.”
Perfect is how you might describe the River Plantation lot. In addition to having a dedicated freeway off ramp, Gross’s property is surrounded by developments to the north and south, including neighbor Grand Central Park.
As an example, Cullen offers up the River Plantation property. He says he showed Gross a number of other pieces, but this lot was the one that caught his eye.
“Larry Johnson has a strong reputation of putting in good developments and we certainly felt that having him as northern neighbor would be an asset,” says Gross.
“He told me, ‘Just because an area is hot, it’s not all equal.’ He just knows what to look for,” says Cullen. “If I find a piece of property he likes, it’s a huge victory for me. It’s not easy; you have to have vision.”
Grand Central Park broke ground in 2016 and families are now moving in to new homes in the development’s West Village. When complete, Grand Central Park’s West Village will include about 500 single-family homes.
Gross, for his part, says there’s really no particular secret to his success. He says most developers can recognize when an area is gaining strength. He says there are a few obvious hot spots right now: the urban core, West Houston and the I-45 corridor. “Over time the area will continue to grow. One of the great things about the model and success of The Woodlands is that it’s influenced the quality of developments that have gone on after,” Gross says. “You’re getting multiple developments now that are all heavy on trees and pathways, jogging paths and water elements. There’s an increased interest in trying to work with nature and create friendly, livable landscapes in that area outside of The Woodlands. But it’s really based on the model and the template that was created by The Woodlands. When you mix that with the increasingly broad base of economic strength, I think it’s a particularly interesting corridor over the long term.”
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“I thought we were somewhat sophisticated. We’d look at a hot market and place a bet on a property,” he says. “But Shawn is looking at it from the microscopic view, as well as from a distance. Unless it’s perfect, he does not close on it.”
Also up and running is 336 Marketplace, a regional shopping and dining attraction in Grand Central Park. Retailers including Kroger, HomeGoods, Michaels, Ross and Marshalls have already opened, with a number of other retail and restaurant conveniences coming soon. Other areas of Grand Central Park are currently marked as “mixed-use,” but a final decision on their use hasn’t been decided yet. While all that might take up the bulk of a smaller development, it barely chips into Grand Central Park’s acreage. “From the beginning, we pledged to preserve the natural beauty of the land as a key community selling point,” explains League. It’s a rare expanse of forest and nature in what is undoubtedly one of the hottest development markets in Houston, as well as all of Texas. Sitting next door, Gross’s acreage is shovel-ready for the buyer who sees the potential in it that he does.
CYPRESS
INSIGHT. KNOWLEDGE. EXPERTISE INSIGHT. KNOWLEDGE. EXPERTISE INSIGHT. EXPERTISE INSIGHT.KNOWLEDGE. KNOWLEDGE. EXPERTISE WEBSTER MONTGOMERY
3.2 Acres CYPRESS – For Sale 3.2 Acres – For Sale CYPRESS CYPRESS 3.23.2 Acres – For Sale Acres – For Sale
NEC of Huffmeister @ Barker Cypress Rd. of Huffmeister @than Barker Cypress Rd. •NEC UNRESTRICTED land, Less 2 miles from Hwy 290, lessHuffmeister 4 miles from theBarker Grand Parkway of @ than Barker Cypress Rd.Rd. •NEC UNRESTRICTED land, Less 2 miles from Hwy NEC ofthan Huffmeister @ Cypress
(GP-99), 6 miles from Hwy lessand than 4land, miles from the249 Parkway • 290, UNRESTRICTED Less than 2Grand miles fromfrom HwyHwy • UNRESTRICTED land, Less than 2 miles (GP-99), and 6 miles from Hwy 249 • Storm water detention located off-site and utilities 290,290, less than 4 miles from the Grand Parkway less than 4 miles from the Grand Parkway (GP-99), andand 6 miles from HwyHwy 249249and utilities •available Storm water detention located off-site (GP-99), 6 miles from • available Storm water detention located off-site andand utilities • Storm water detention located off-site utilities available available CONROE MEDICAL CENTER
CONROE 1.1 Acres MEDICAL - For Sale CENTER 1.1 Acres For Sale CONROE MEDICAL CENTER CONROE MEDICAL CENTER 1.11.1 Acres - For Sale Acres - For Sale
River Pointe Drive Pointeavailable Drive •River City Utilities River Pointe Drive • City Utilities available Pointe Drive • LastRiver remaining site on River Pointe Dr. for development
6.4 Acres WEBSTER - For Sale 6.4 WEBSTER Acres - For Sale WEBSTER 6.46.4 Acres - For Sale Acres - For Sale
Old Galveston Rd. Galvestonland, Rd. Less than 1 mile from Inter•Old UNRESTRICTED state 45, and less than 2 miles Galveston Rd. •Old UNRESTRICTED land, Less than from 1 mileNASA from InterOld Galveston Rd.
and Space Center Houston 45, and less thanLess 2 miles from NASA • state UNRESTRICTED land, thanthan 1 mile fromfrom Inter• UNRESTRICTED land, Less 1 mile Interand Space Center Houston • Water and high-density sanitary sewer services state 45, and less than 2 miles from NASA state 45, and less than 2 miles from NASA through the Houston City of Webster andand Space Center Houston •available Water and high-density sanitary sewer services Space Center available through the City of Webster • Water and high-density sanitary sewer services • Water and high-density sanitary sewer services available through the the CityCity of Webster available through of Webster WILLIS
46 Acres WILLIS – For Sale 46 Acres – For Sale WILLIS WILLIS 4646 Acres – For Sale Acres – For Sale
I-45 & NEC Longstreet Rd. &growth NEC Longstreet •I-45 Major corridor withRd. explosive residential and commercial development & NEC Longstreet Rd. •I-45 Major growth corridor with I-45 & NEC Longstreetexplosive Rd. residential
and commercial development ••Located approximately 17 with miles from residential Theresidential Major growth corridor with explosive City Utilities available Last remaining site on336 River Pointe forGrand development • Major growth corridor explosive • City Utilities available ••Directly Across Loop from theDr. new Central Woodlands and 45 miles and commercial development •. Located approximately 17from milesHouston from The and commercial development community by Johnson Development •Park Last remaining site on River Pointe Dr. for development Directly Across Loop fromPointe the new Central • Last remaining site336 on River Dr.Grand for development and 45 miles Houston • Woodlands Located approximately 17from miles fromfrom TheThe community by Johnson Development • Located approximately 17 miles • Park Directly Across Loop 336336 fromfrom the the newnew Grand Central • Directly Across Loop Grand Central . Woodlands and 45 miles from Houston Woodlands and 45 miles from Houston ParkPark community by Johnson Development . . community by Johnson Development
THE WOODLANDS
Retail/Office THE WOODLANDS Space – For Lease Retail/Office Space – For Lease THE WOODLANDS THE WOODLANDS Retail/Office Space – For Lease Retail/Office Space – For Lease
1644 Research Forest Dr. Forest Dr. •1644 2,600 Research SF available, 2nd generation office space (former title company) Research Forest Dr.Dr. office space •1644 2,600 SF available, 2nd generation 1644 Research Forest
(former title company) ••Located just mile2nd west ofgeneration I-45 office 2,600 SF available, generation space • 2,600 SF1/2 available, 2nd office space (former title company) • Located justtitle 1/2 mile west of I-45 (former company) • Located justjust 1/21/2 milemile westwest of I-45 • Located of I-45
WOODLANDS SUBMARKET
Retail/Office Medical – For Sale or For Lease WOODLANDS SUBMARKET Retail/Office Medical – For Sale or For Lease WOODLANDS SUBMARKET
WOODLANDS SUBMARKET
Retail/Office Medical – For Sale or For Lease Retail/Office Medical – For Sale or For Lease
25450 Kuykendahl Rd., Tomball Kuykendahl Rd., Tomball •25450 One-story, 11,000 SF building, 2nd generation medical/retail spaceSF(7,986 SF) Tomball available for lease Kuykendahl Rd.,Rd., Tomball •25450 One-story, 11,000 building, 2nd generation 25450 Kuykendahl
medical/retail space SF)Creekside available for lease ••Preserve Plaza is located Village, One-story, 11,000 SF(7,986 building, 2nd generation • One-story, 11,000 SF near building, 2nd generation Woodlands medical/retail (7,986 SF)Creekside available for lease •The Preserve Plazaspace is located near Village, medical/retail space (7,986 SF) available for lease The Woodlands • Preserve Plaza is located nearnear Creekside Village, • Preserve Plaza is located Creekside Village, TheThe Woodlands Woodlands
.71 Acre MONTGOMERY - Pad Site Available .71 Acre Pad Site Available MONTGOMERY MONTGOMERY .71.71 Acre Site Available AcrePad - Pad Site Available
SH 105 & HWY 149 SH 105 &onHWY 149 • Located the hard corner of two main corridors inSH Montgomery with traffic of over 20,000 105 & 149 •SH Located on HWY the hard corner two main corridors 105 & HWY 149 ofcounts
cars per day with traffic counts of over 20,000 Montgomery • in Located on the hardhard corner of two main corridors • Located on the corner of two main corridors cars per dayBrothers • in Brookshire grocery anchored Montgomery withwith traffic counts of over 20,000 in Montgomery traffic counts ofshopping over 20,000 center cars perper dayBrothers • Brookshire grocery anchored shopping cars day • center Brookshire Brothers grocery anchored shopping • Brookshire Brothers grocery anchored shopping center center MAGNOLIA
23.95 MAGNOLIA Acres – For Sale 23.95 Acres – For Sale MAGNOLIA MAGNOLIA 23.95 Acres – For Sale 23.95 Acres – For Sale
24497 Allyson Rd. & FM 149 24497 Allyson & flyover FM 149 • North of the newRd. major at the FM 1488 &24497 FM 149 intersection Rd. & FM 149 •24497 North ofAllyson the new major flyover at the FM 1488 Allyson Rd. & FM 149
FM 149 intersection Major Residential & Commercial •& North of the newnew major flyover at Development the FM FM 1488 • North of the major flyover at the 1488 in this area & FM 149 intersection • Major Residential & Commercial Development & FM 149 intersection this Residential area • in Major & Commercial Development • Major Residential & Commercial Development in this areaarea in this
WOODLANDS SUBMARKET WOODLANDS Medical Office Space SUBMARKET – For Lease Medical Office Space – For Lease WOODLANDS SUBMARKET WOODLANDS SUBMARKET Medical Office Space – For Lease Medical Office Space – For Lease
121 Vision Park Dr., Shenandoah 121 Vision Shenandoah • Near CHI St.Park Luke’sDr., Health, Texas Children’s, Houston Methodist, Memorial Herman - The Vision Dr., Shenandoah •121 Near CHI St.Park Luke’s Health, Texas Children’s, 121 Vision Park Dr., Shenandoah
Woodlands Medical Memorial Centers Herman - The Methodist, • Houston Near CHICHI St. Luke’s Health, Texas Children’s, • Near St. Luke’s Health, Texas Children’s, Woodlands Medical Centers • Houston Estimated Completion 1st Quarter 2019- The- The Methodist, Memorial Herman Houston Methodist, Memorial Herman Medical Centers • Woodlands Estimated Completion 1st Quarter 2019 Woodlands Medical Centers • Estimated Completion 1st Quarter 2019 • Estimated Completion 1st Quarter 2019
Landlord & Tenant Representation | Property Sales & Disposition | Buyer & Site Acquisition Landlord Tenant Representation | Property Sales & Disposition | Buyer & SiteReal Acquisition Commercial Property& Management | Development & Consulting Services | Commercial Estate Investment Landlord & Tenant Representation | Property Sales & Disposition | Buyer & Site Acquisition Landlord & Tenant Representation | Property Sales & Services Disposition | Buyer & Site Acquisition Commercial Property Management | Development & Consulting | Commercial Real Estate Investment 10077 Grogan's Mill Road | Suite&135 | The Woodlands, 77380 Real Commercial Property Management | Development Consulting Services | Texas Commercial Estate Investment Commercial Property Management | Development & Consulting Services | Commercial Real Estate Investment 10077 Grogan'sjbeardcompany.com Mill Road | Suite 135| |281-367-2220 The Woodlands, Texas 77380 10077 Grogan's Mill Road | Suite 135 The Woodlands, Texas 77380 10077 Grogan's Mill Road | Suite 135 | The Woodlands, Texas 77380 jbeardcompany.com ||281-367-2220 jbeardcompany.com | 281-367-2220 jbeardcompany.com | 281-367-2220
Offering Properties & Hotel Consulting PROPERTIES AVAILABLE
Protecting Property Owner’s Rights
EMINENT DOMAIN
• 1/3 Acre - Clarewood @ Atwell - Houston • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 Huntsville, TX • Hotels - Statewide
Compensation For Property Lost Due To:
HANKAMER & ASSOCIATES BROKERS, L.L.C.
Roads Pipelines Power Lines
Hospitality Consulting Services 40 Years Experience As Hotel Developer, Owner/Operator and Commercial Broker Hospitality Consulting Services
www.ShowalterLaw.com 281-341-5577 Info@ShowalterLaw.com
Ray Hankamer, Jr 40 Years Experience As Developer | Owner 713.922.8075 | Operator
rhankamer@gmail.com / www.hankamer.com
(713) 789-7060 www.hankamer.com
PRIME RETAIL IN EXCELLENT LOCATION!
Brokers: Ray Hankamer, Jr., Pablo Szub,
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TheWoodlands-Commercial.com RIP REYNOLDS, VP, Leasing and Commercial Land, 281.719.6125 | Rip.Reynolds@HowardHughes.com GRANT GOLD, Sr. Manager, Leasing, 281.719.6137 | Grant.Gold@HowardHughes.com PHILIP GALLEGOS, Associate, Land Sales, 281.719.6315 | CommercialLand@HowardHughes.com
A NEW OFFICE DEVELOPMENT FOR LEASE IN NEW BRAUNFELS, TX UP TO 58,574 SF * EASY ACCESS TO IH-35 FLEXIBLE CUSTOMIZED LAYOUTS * BEAUTIFUL PARK-LIKE SETTING
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Good to the last drop:
How Texas-based WaterLogic is conserving water and saving clients money
Charles Racusin Founder, Chief Executive Officer
BY BRANDI SMITH
The roots of WaterLogic date back to 1972 when its founder, Charles Racusin, started an award-winning commercial landscape company. He noticed just how much water was being wasted on many commercial properties, spilling down the street instead of being used properly.
Texas has always had a complicated relationship with water. It seems we’re constantly in a bind; there’s either too much of it or not enough. As a result, water rates aren’t just rising, they’re skyrocketing. According to Circle of Blue, those rates have increased 55 percent since 2010 alone. That can generate substantial issues for just about every individual and every industry, but it’s especially problematic for companies that rely heavily on landscaping, such as property managers and developers. “Water is one of our most precious resources,” says Airia Development Company’s Lucy Robertson. “We might not think that when we see so much of it falling out of the sky, but water is increasingly expensive.” Airia Development Company is the brains behind Aliana, one of the largest and fastest-growing master-planned communities in Fort Bend County. With 2,000 acres to oversee, water management is of utmost importance. That’s why, Robertson says, Aliana’s homeowners association and MUD district started working with WaterLogic, a Houston-based water and irrigation management company. “We’ve saved 65 million gallons of water over the past three years. That is a significant amount of water,” says Robertson. “Not just that, it’s a significant amount of monetary savings for the residents in the community and it shows we care about this valuable resource.” 20
SEPTEMBER 2018
“ For decades, irrigation controllers were installed on commercial properties and basically were nothing more than glorified kitchen timers. They used someone’s non-educated guess for when to run the system and how much water to apply, resulting in a tremendous amount of wasted water and wasted money for the property,” Racusin says. We’ve all seen what he calls “dumb controllers,” which are arbitrarily set to water at certain times for a certain number of days each week. Racusin knew there had to be a better option out there and began looking into smart-water technology, which could instead operate on current weather data and have the potential for two-way communication. It was in 2003 that he founded WaterLogic, adding his “secret sauce” to the industry. “Major developers spend millions of dollars on their landscaping. So to leave water management up to just a ‘yard man’ isn’t the smartest or best thing to do,” says Racusin. “We’re another set of eyes on their property -- a professional set of eyes. That’s all we do day in, and day out.” When WaterLogic starts working with a client, the first step is a complimentary, no-cost analysis. That way, a property owner or manager can easily learn what the potential savings opportunities are at their property. “We go through their irrigation systems. We locate all their controllers and then we see what the settings are. We evaluate the age of those controllers and complete a total inventory analysis. Then we come back to the client with a full report,” Racusin explains. The report details what’s working, what’s not and includes the client’s projected return on investment,
which Racusin says can happen as fast as four months. With the green light, WaterLogic goes to work, not just setting the controllers, but having its well-trained staff constantly monitoring the client’s properties and irrigation needs so nothing is getting over- or underwatered. “They end up having a healthier landscape because they’re getting the right amount of water instead of too much,” says Racusin. That remote monitoring is done by utilizing the controllers’ two-way communication capabilities. “If there’s a problem that exists on your property, we’ll get an automatic alert and then we’ll be able to assess that and address it,” he says. Racusin offers an example of a client who doubted WaterLogic’s responsiveness. In the middle of August, one of the company’s water managers noticed an Austin company’s irrigation system was off. “We all know Austin. When it’s hot in the middle of August, you’d better have your irrigation system on,” Racusin says. “We contacted the property manager and explained that the system was off. He said, ‘Oh, no. The landscaper was out there planting some additional plants and he must’ve turned off the system and forgot to turn it back on. I’m at O’Hare Airport in Chicago. What can I do?’” For WaterLogic, the answer was simple. John O’Donnell, the company’s vice president of technology, explained to the client that he could turn the system back on -and that’s exactly what he did, from WaterLogic’s office in Houston. “Those plants survived and that client is definitely a fan now, a big believer,” Racusin says. Now his company helps a list of clients that reads like a Who’s Who of American businesses across 19 states. In Houston alone, WaterLogic boasts more than 2,500 installations, including several at Johnson Development’s Sienna Plantation, which Racusin calls one of the leaders in adopting smart-water technology.
“Years ago, they saw that there was an alternative resource for water conservation controllers. It may have been more expensive, but it was the best at the time and they implemented that,” says Racusin. “It’s been a terrific experience working with the WaterLogic team for our water conservation needs,” says Troy Goodell, operations manager for Sienna Plantation Associations. The 10,800-acre development in Fort Bend County includes 600 irrigated acres of common space. Goodell says partnering with WaterLogic has proved valuable enough, the development is about to sign off on a $400,000 system upgrade. “We have a pretty good deal on our water, but we want to make sure we are showing the residents that we’re not wasting water,” Goodell says. “When it’s raining, we don’t have irrigation running. We’re also finding leaks and shutting systems down remotely to save time and money at the end of the day.” Racusin also speaks highly of Westheimer Lakes, the HOA which brought WaterLogic on to manage water conservation on the 592-acre project along Houston’s Grand Parkway Corridor. “WaterLogic’s technology is better than just your average water controller. Not only does it have a rain gauge, it has some smarts to it. It has a live monitoring component that is very beneficial, making sure not only of what’s going on on a day-to-day basis, but a predictive model to help them make sure that we’re not watering right before it rains. It did cost us money to put it in there, but we’ve saved more than $250,000,” says Randy Carter, director of the HOA and president of Fort Bend County Municipal Utility District #142. “We’ve also saved more than 69 million gallons of water that would otherwise just be dripping down the street. I’m very impressed with the WaterLogic system.” The MUD is still expanding, according to Carter, and as more developers come on board, he says WaterLogic will be implemented in those districts as well. The reasoning behind that isn’t just economic, though.
“There’s a social responsibility element as well. Being able to conserve water is really important to us,” Carter explains. “I originally got involved just trying to locate somebody who can help us. But when I started talking to WaterLogic, I realized Charlie’s a huge champion for water conservation. He has a good team that helps me out and answers questions when they come up. Overall we’re pleased and impressed with their service.” Though many clients do appreciate that, Racusin acknowledges it really comes down to money at the end of the day for other clients. If they’re spending their capital on something, they want to know it will be worth it.
“Because we apply the right amount of water at the right time, it saves our clients 40 percent of their water and 40 percent of their money,” Racusin points out. That extends not just to master-planned communities, but office buildings, retail centers, hospitals and essentially any other organization looking to conserve water. “I would anticipate that the need for our services will continue to grow at a pretty significant pace based upon the scarcity of our water resources,” says Racusin.
For more information about WaterLogic or to schedule a complimentary water management analysis, call (877) 322-4222 or email info@WaterLogic-Texas.com. SEPTEMBER 2018
21
Right on the mark: La Marque offers unique development opportunities
ALEX GETTY
COLLEEN MERRITT
BY BRANDI SMITH
Growing up in La Marque, a southern suburb of Houston, Alex Getty says he watched as growth from the state’s largest city slowly started to spill into Galveston County. Now, he says, it’s pouring into his hometown, which is just 15 miles south of Houston and four miles north of Galveston. “It’s exciting. It’s a big opportunity and we’re excited to see it finally come to fruition,” says Getty, who now serves as the executive director of the La Marque Economic Development Corporation. “We’re the second fastest-growing city in Galveston County.” A population of roughly 16,500 is a far cry from the community’s roots. Back in 1867, the town only had six farming families living in it. That number grew to nearly 200 by the 1890s. In the years after, four different railroads laid down their tracks in the city, bolstering the small town’s economy. Over time, it became a residential hub for employees who work at chemical plants and refineries in neighboring cities. Lately, though, the growth has been substantial. The community’s easy, breezy coastal living and the security of a hurricane protection levee system are a huge draw for housing developers, who are busy building 7,000 homes in La Marque’s retail trade area right now, potentially 22
SEPTEMBER 2018
delivering up to 20,000 new residents. One of those projects is Land Tejas’s Lago Mar, a 2,033-acre, 4,000home community just north of the city. Delany Cove by Friendswood Development, Saltgrass Crossing and Painted Meadows are building, as well “We’ve got the rooftops coming. Now we want to focus on getting the retail that we want,” Getty says. The city recently celebrated the groundbreaking of La Marque Crossing, a 15,000-square-foot retail center along I-45 and FM 1764, on a pad site in front of Sam’s Club and a Walmart Supercenter. Now its priorities are bringing in hotels, grocery stores and casual sit-down restaurants. “We believe that we have some of the greatest values in the greater Houston area. Commercial real estate prices just haven’t caught up with the amount of growth that we’re having and the amount of traffic that we’re seeing on I-45,” points out Getty. We have 14.3 miles of I-45 frontage, more than anyone else in Galveston County. That’s huge for us. We’ve got the big traffic counts, lots of available land and excellent prices.” Though the EDC’s targets are clear, Getty knows La Marque’s attributes will lure more than just hotels, grocery stores and restaurants. “We’ll talk to any potential business,” he says. “We’ll try our best to find a spot for them.” Residential and commercial expansion has concentrated on the west side of town for the past several years, but the EDC is also focused on its historic downtown, what it’s coined the ‘Renaissance District,” on the east side. Home to City Hall, the EDC, police HQ and the public library, like so many downtowns, it was once the center of city life and economic growth. Over time, that faded as developers turned their attention to the freeway.
“We recently completed a resiliency study and found that we have some amazing bones, solid existing infrastructure and high daytime population downtown,” says Colleen Merritt, who works with Getty at the EDC. “Revitalizing our downtown will not only take advantage of those things, but also help community cohesiveness. We’re going to start where we are, with what we have, and rebuild downtown.” That work is already underway, beginning with 401 Laurel, which is getting a facelift. A restaurant and coffee shop have also signed leases to come to downtown La Marque. The area, Getty believes, will be a draw for mom-and-pop shops, which carry a different type of flair than national chains. “We’re going to be swinging hammers on 401 Laurel within the next month or so. Then we’re going to work on streetscaping projects. We hope to bring back the energy downtown, and increase the after 5:00 p.m. crowd with community engagements. We want a fun historic district where people can gather, shop, eat and just be together,“ Merritt says. The EDC knows better than to have a cookie-cutter approach to working with business partners. Every deal is different, Getty says, because every company is different. “Sometimes a tax abatement is very important to a person. Sometimes they just need a little help on the real estate side or a grant. We really try first and foremost to find out what the needs are of each individual developer and then we customize a plan that makes sense to everybody,” he says. With its prime I-45 frontage, creative incentives, an abundance of commercial property, a budding downtown revitalization and build-to-suit options, La Marque no doubt hits the mark for developers and companies looking to capitalize on the available opportunities here. Adds Merritt: “Life is good in La Marque.”
+/- 8.5 ACRES Potential Hotel Site
PRICED TO SELL PRIME I-45 FRONTAGE
POTENTIAL DISTRICT AILABLE | LA MARQUE RENAISSANCE INCENTIVES AVAILABLE HOTEL SITE
reet | La Marque, Texas 77568
SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568
AVAILABLE SPACE LOCATION MAP
RETAIL TRADE AREA MAP The City of La Marque is strategically positioned 15 miles southeast of Houston.
Total Building Area 4627 SF Total Indoor Seating 80 People Total Outdoor Seating 16 People
Site Details
La Marque serves as a southern anchor for the economically strong Houston/ SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568
Galveston Region, and its rapidly growing population of nearly 7 million residents.
LOCATION MAP
TRADE AREA LaRETAIL Marque is MAP the geographic center of
Galveston County with more than 14 miles of frontage on the expanding Interstate 45 corridor and is the second-fastest-growing city in the County. Now is the time for
RETAIL MAPexpansion commercial EXISTING and residential in La Marque as we are on the brink of a major development boom. EXISTING RETAIL MAP
TRAFFIC TRAFFICCOUNTS COUNTS
Texas Avenue - 11,820AADP AADP Source: TXDOT 2016 Interstate 45 - 61,305 Source: TXDOT 2016
PROPERTY INFORMATION PROPERTY INFORMATION
Approximately acres. •• Well trafficked8.5 downtown space adjacent to •the Prime forOffice commercial development. Post and across the street from the Marque Development Corporation •La Located on Economic the highly trafficked corridor of Interstate 45 that connects Houston to Galveston. Office •• 31 Customer Parking andsouth additional Vauthier access road toSpots north and bound6I-45. parking spots •employee $1 billion investment for new road infrastructure in • Ideal Restaurant/Cafe/Deli Location La Marque and Galveston County over the next 10 years.
DEMOGRAPHICS (based on data) 2017 data) DEMOGRAPHICS (based on 2017 Variable
P.O. Box 7272 | Tupelo, MS 38802 | 800.851.0962 | www.theretailcoach.net
Alex Getty, Executive Director La Marque Economic Development Corporation Vice President Alex Getty, Executive Director agetty@lmedc.com La Marque Economic Development Corporation 409-938-9258 h.net agetty@lmedc.com
P.O. Box | Tupelo, MS | 800.851.0962 | www.theretailcoach.net The information contained herein was obtained from7272 sources believed to 38802 be reliable; however, The Retail Coach, makes no guarantees, warranties, or representations as to the completeness orcontained accuracy thereof. The presentation of this property is submitted to errors, change of price or conditions, prior sale or lease, or withdrawal without notice. The information herein was obtained from sources believed to be reliable; however, Thesubject Retail Coach, makes omissions, no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.
RTA
1-Mile
3-Mile
5-Mile
2017 Population
97,186
8,365
38,344
73,130
2017 Workforce
40,969
3,237
15,184
29,939
Average HH Income
$67,184
Median Age
39.2
$52,717 $54,483 $59,939 37.6
37.4
37.7
Area; the the geographic area from **RTA RTA––Retail RetailTrade Trade Area; geographic areawhich from which retailers derive approximately 80-85% of their business. retailers derive approximately 80-85% of their business.
civil fair play
How updates to floodplain mapping will impact Texas
ROBERT PAVUR
BY: ROBERT PAVUR, P.E, CFM
Natural disasters, such as catastrophic flooding, challenge the very essence of a community.
The state of Texas has seen many dangerous floods in the last 20 years resulting from extreme rainfall. Nearly 5 years ago on Halloween of 2013, 12-14 inches of rain fell in Central Texas, causing Onion Creek to rise 11 feet in 15 minutes and crest at a record 41 feet between Wimberley and Driftwood, Texas. Two years later during the 2015 Memorial Day weekend, those areas again saw 12-13 inches of rainfall over a 4-6 hour period, causing the Blanco River in Wimberley to rise more than 35 feet in 4 hours to a new record flood stage. Just last year, Hurricane Harvey dropped as much as 50 inches of rain over a seven-day period in parts of the Houston/Beaumont area. Communities across the state are still seeing the effects of that storm. Many of the significant storm events that have occurred within the last 20 years have taken lives and destroyed property. Understanding the risks and updating the rainfall statistics with data over the last 20 years will help communities become better prepared. It’s imperative that new developments utilize recent rainfall data to improve the safety of our communities and reduce the risks of destruction to property improvements.
Why we need to update rainfall statistics These floods and (all storm events) are commonly referred to as a certain year storm, such as a “100-year” or “500-year” event. A 100-year storm event is a storm producing a certain amount of rain that will likely happen only once in 100 years (or a 1% likelihood each 24
SEPTEMBER 2018
year). These statistics are based on historical records of rainfall, which vary from region to region. 100-year storm events can happen in back-to-back years, but each occurrence changes the probability or statistics. Communities adopt their drainage system standards based on studies performed by state and federal agencies. The civil engineering industry then uses those standards to design drainage systems to safely convey stormwater runoff downstream without placing people or property in harm’s way. The problem: many of those standards have become outdated. For example, the City of Austin currently uses rainfall frequencies developed more than 20 years ago by the United States Geological Survey (USGS) during a 1998 study that analyzed rainfall data collected all around the state of Texas (Asquith 1998). Furthermore, all of that rainfall data was from prior to 1994, and while some regions of Texas had over 100 years of rainfall records, other regions hardly had any rainfall records at all.
Floodplain mapping updates are underway The Hydrometeorological Design Studies Center within the Office of Water Prediction of the National Oceanic and Atmospheric Administration’s (NOAA) National Weather Service is currently updating rainfall frequency estimates for the state of Texas using rainfall data collected across the state through 2017. Their publication is planned for late 2018, which will be called NOAA Atlas 14 Volume 11 Version 2. Continued on Page 26 >
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CONROE
I-45 North @ River Plantation · 37.6 acres just south of Johnson Development’s Grand Central Master Planned Community
RIVER PLANTATION DRIVE
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Meredith Cullen USMC Veteran 713.444.7979
Jay Shaw USMC Veteran 281.546.9237
mtcullen@cullenrealtygroup.com
jshaw@cullenrealtygroup.com
THE WOODLANDS
civil fair play
How updates to floodplain mapping will impact Texas < Continued from Page 24
Clean up at Sheldon ISD in the Houston area after Hurricane Harvey.
The draft showed that some regions of Texas, such as central Texas from Del Rio to Beaumont, increased in the amount of rainfall estimated for the 100-year, 24-hour storm event as much as 7 inches; other areas of Texas, (primarily west Texas) decreased in the amount of rainfall estimated for the 100-year, 24-hour storm event as much as 2 inches. Storms are very unpredictable, and avoiding adverse impacts from stormwater is never guaranteed, but the risks can be lowered. Communities within the regions of Texas that see significant changes in rainfall frequency depths will likely feel a much greater sense of awareness due to the floodplain modifications. Higher estimated rainfall depths result in higher flowrates in rivers and channels, which further result in deeper and wider floodplains. The official FEMA floodplain maps will likely take a good amount of time to get updated due to the efforts required for modeling and map preparation, as well as the FEMA review and approval processes. However, the decision to adopt the updated rainfall frequency depths will be at the city or county level and are anticipated to become the new standard statewide. The City of Austin will be one of the first to act, amending their code to require the use of the current 500-year floodplain elevations, similar to the new 100-year floodplain elevations of the Atlas 14 rainfall estimates. Many other cities are expected to follow suit. 26
SEPTEMBER 2018
How do the new floodplain maps affect you? So what does this mean for you? Statewide, some existing structures that werenâ&#x20AC;&#x2122;t previously within the 100-year floodplain will soon be within the new 100-year floodplain. When property loans are processed for existing structures within the 100-year floodplain, FEMA flood insurance will be required. On the development side, wider floodplains will also result in less developable land. Keep in mind, to be used for future development, properties with existing drainage systems may now require improvements and modifications to reduce the size of the floodplain through that property. New developments will also require larger storm sewer systems and larger detention ponds to convey higher flows, which will increase the cost of development. Thereâ&#x20AC;&#x2122;s no doubt that the risk of losing lives and property to flooding lowers when communities are better prepared. Developers can and will be key in helping communities get there. We all must anticipate floodplains to periodically be updated in the future as new rainfall data is factored into the statistics. Keep this in mind for your current and future developments. Paying more now on development improvements and greater stormwater conveyance means paying less later with the cost of lives and property.
retail | office | medical | space for lease 2,340 SF available on second floor. Base rent $15.00 PSF & NNN $4.20 PSF
Excellent for retail, office or professional use
2,671 SF end cap on first floor, one lane drive through attach; Base rent $24.00 PSF & NNN $4.20 PSF
2 blocks west of Beltway 8
Kaleidoscope 10612 Westheimer Houston, 77042
WoodlanD Park Shopping Center
800 -7,350 SF available on first floor. Excellent for medical office. Base rent $15.00-$18.00 PSF & NNN $4.80 PSF
11380 Westheimer Houston, 77077
A A Realty Realty Co AA Co
Accredited Management Management Organization Accredited Organization
For more information call : Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108 eleung8888@aol.com www.aarealtytx.com
+/- 592â&#x20AC;&#x2122; of frontage on Westheimer
372 surface parking spaces available
Traffic counts - 82,880 CPD (Westheimer)
Pylon signage available
Aggressive lease terms
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www.PhaseEngineering.com
SCOOP The following pages contain a calendar of Texas CRE events, networking photos, and deals/announcements. For more updates, log on to REDNews.com
Register Now! HOUSTON SUMMIT: resummits.com/wirehouston DALLAS SUMMIT: resummits.com/wiredallas
Central South Texas
North Texas
Southeast Texas
EXTRA
Cheryl Gajeske, Principal, PGAL Lori Bryant, Managing Director Asset Lynny Osenbaugh, MAI, CCIM, Presid Michelle Wogan, Executive Vice Presi Christie Amezquita, Partner, SHOP C
SCOOP
MORE INFORMATION and REGI www.resummits.com/wire
Topi
Topics Include:
Hot Breakfast Included
Dallas Speakers Include:Risks
Risks and Success Stories of Industry Pioneers in the Commercial Real Estate Industry • Early Pioneers: Making their way into a male dominated industry • The challenges in overcoming the paradigms in a male dominated industry • Looking Back: could the early pioneers have done anything different • Initial industry reaction to women in the business • The Vision for Women in Real Estate for the future Lessons Learned from Leaders in Real Estate Today • Business owners discuss continued support for diversity with commercial real estate professionals • The types of education, networking and learning opportunities available to help compete and grow • Embracing the differences: How women are standing out today in the Commercial Real Estate Industry • Challenges in today’s market and solutions to overcome these obstacles • Trends in the commercial real estate market impacting women in the business Assessing the Gender Gap Across Commercial Real Estate Sectors • Commercial Real Estate Brokerage: Retail, Multifamily, Office, Industrial & Other • Commercial Real Estate Development • Commercial Construction • Real Estate Professional Service Providers: Attorneys, Appraisers, Bankers & Others
Looking Forward: Commercial Real Estate Industry for the Future • Mentoring young women today that are interested in commercial real estate • Exploring and developing opportunities for women in real estate • The changes needing to occur to continue to improve the industry To Learn about how your company can&sponsor this event contact: • Future Forecast Trends: Shaping the Commercial Real Estate Industry • A Vision for| the Industry and into the future Jeff Johnson | Real Estate Summits | 952-405-7780 jeff.johnson@resummits.com
Comm LeighHot Richter, Executive Vice Presiden Breakfast • Early Diane Butler, Principal, Butler Associa Included • The c Paula Beasley, Partner, Farrow-Gillesp • Looki Maureen Kelly Cooper, Executive• Initia Dir • The V Susan Arledge, President Site Selectio Liz Trocchio Smith, Founder & CEO, LessonT • Busin Laura Hoffmann, Attorney, Winstead real Kennis Ketchum, President, Portfolio • The t Julie Young, General Manager, Cresce help • Embr Ka Cotter, Director, Blinksale Comm Beth Lambert, Executive Managing D • Chall Kathy Permenter, Co-Managing •Partn Trend Kyla Sadau, Superintendent, Scott & Assess Coni Hennersdorf, Partner, CODA• Comm Con Michele Langenberg, Vice President • Comm
MORE INFORMATION and REGI Lookin www.resummits.com/wire
MORE INFORMATION and REGISTRATION: MORE INFORMATION and REGISTRATION: Course #34806 www.resummits.com/wireHOUSTON www.resummits.com/wireDALLAS Ginger Wheless | REDNews | (713) 661-6300 | Ginger@rednews.com Speakers Include: Gary Maler Director, Texas A&M Real Estate Center Edna Meyer-Nelson President & CEO, The Richland Group Lori Bryant Managing Director Asset Services, CBRE Jan Sparks Executive Managing Director, Transwestern Peggy Rougeou Director of Commercial Leasing, Tarantino Susan Hill Senior Managing Director, HFF
Beth Young
• Comm • Real
• Ment • Explo • The c • Futur • A #1 Vis TREC Provider
Melanie Edmundson Principal, Phase Engineering
SpeakersSR.Include: VP, Colliers Healthcare Services
Julie Young General Manager, Crescent Real Estate Equities, LLC
Sandra Paige COO, Veritas Title
Diane Butler Brandi Smith Principal, ButlerReal Associates Estate Writer, REDNews
Paula Beasley Partner, Farrow-Gillespie Heath Witter LLP
Lynny Osenbaugh MAI, CCIM, President, Osenbaugh & Associates
Liz Trocchio Smith Christie Amezquita Founder & CEO,Partner, The Trocchio Advantage SHOP Companies
Leigh Richter Executive Vice President, Bradford
Pat Duffy President Houston, Colliers International
Ka Cotter Matt Davis Director, Blinksale Land Services Associates, Berkadia
Kathy Permenter Co-Managing Partner, Younger Partners
Elke Laughlin President, Laughlin Consulting Group
Beth LambertJennifer Ray Executive Managing Cushman Investment & WakefieldSales, Berkadia DirectorDirector, of Multi-Family
Coni Hennersdorf Partner, CODA Consulting Group, LLC
Cheryl Gajeske Principal, PGAL
Maureen Kelly Cooper Sandra Porter Kyla Sadau Executive Director Capital Markets, Cushman & Wakefield VP, Corporate Marketing & Business Development, HINESSuperintendent, Scott & Reid General Contractors, In
Susan Arledge Michelle Wogan Executive Vice President Office Leasing, Transwestern President Site Selection, esrp
To Learn about how your company can sponsor this event contact: Jeff Johnson | Real Estate Summits | 952-405-7780 | jeff.johnson@resummits.com Ginger Wheless | REDNews | (713) 661-6300 | Ginger@rednews.com
To Learn about how your company can sponsor this event contact: Course #34806 Jeff Johnson | Real Estate Summits | 952-405-7780 | jeff.johnson@resummits.com Provider #10163 Instructor #4153 GingerTREC Wheless | REDNews | (713)TREC 661-6300 | Ginger@rednews.com
CREWTINI.COM
WESTON CENTRE 112 PECAN ST, SAN ANTONIO, TX 78205
4:30-8:30 PM
SEPTEMBER 13, 2018
A FUN NIGHT OF NETWORKING! PROCEEDS WILL FUND SCHOLARSHIPS FOR REAL ESTATE STUDENTS, CREW SAN ANTONIO MEMBERS AND CREW NETWORK FOUNDATION!
GET YOUR TICKETS TODAY! Coming Next Month:
FIND COMMERCIAL PROPERTIES FOR FREE! Search over 400 commercial proper�es in Te�as including businesses for sale, improved property, vacant land & leasing. Anyone can search for proper�es for FREE. Lis�ng proper�es is a FREE bene�t for CTCAR Members. Service provided by Central Texas Co��ercial Associa�on of REALTORS. MORE INFO: WWW.CTCARONLINE.COM
OCTOBER FOCUS
LAND INDUSTRIAL OFFICE RESERVE YOUR SPACE NOW 713.661-6300 info@rednews.com www.rednews.com
CENTRAL SOUTH TEXAS
SEPTEMBER
2018 5 Wednesday
CTCAR - Committee Meeting @ Brewtorium Brewery & Kitchen [3:00pm - 4:30pm]
17 Monday
CTCAR - Happy Hour @ Brewtorium Brewery & Kitchen [4:30pm - 6:30pm]
7 Friday
CTCAR - TAR Commercial Day & Property Showcase [8:00am - 7:00pm]
10 Monday
CCIM Central Texas - CRE Negotiations Course [7:30am - 5:00pm] REDNews Newsletter [4:00pm]
11 Tuesday
18 Tuesday
ULI San Antonio - Mayor’s Housing Summit [8:00am - 5:00pm]
19 Wednesday
CBA Austin - Luncheon [11:30am - 1:00pm]
20 Thursday
BOMA Austin - Luncheon [11:30pm - 1:00pm]
CCIM Central Texas - CI 103 Course [7:30am - 5:00pm]
TABB Austin - Luncheon [11:30am - 1:00pm]
IREM Austin - Trends 2018 [3:00pm - 6:00pm]
21 Friday
IREM San Antonio - Bowling Tournament [3:30pm - 6:00pm]
BOMA Austin - Emerging Professionals Dutch Lunch [11:30am - 1:00pm]
24 Monday
REDNews Newsletter [4:00pm]
REDNews October Issue Deadline [5:00pm]
25 Tuesday
REC Austin - RECA 101 [8:00am - 9:00am]
CCIM Central Texas - Chapter Social [5:30pm - 7:30pm]
CCIM Central Texas - Board Meeting & Luncheon [10:00am - 1:30pm]
ULI Austin - Women’s Golf Clinic [5:30pm - 7:30pm] CTCAR - Property Information Exchange [7:30am - 9:00am] BOMA Austin - BOMI: RPA/FMA/SMA - Environmental Health & Safety [8:00am - 5:00pm]
26 Wednesday
REC Austin - Christmas in October Committee Meeting [12:00pm - 1:00pm] BOMA Austin - Shiny and New vs. Tried and True [4:00pm - 6:00pm]
TABB San Antonio - Luncheon [11:30am - 1:00pm]
27 Thursday
BOMA Austin - Emergency Preparedness Fire Life Safety [11:30pm - 1:30pm] CREW Austin - Members Only Dine Around [5:30pm - 7:30pm]
CREW San Antonio - CREWtini 2018 [4:30pm - 8:30pm]
29 Saturday SEPTEMBER 2018
ULI Austin - Breakfast [7:30am - 9:00am] CCIM Central Texas - 5th Annual Golf Tournament [8:00am - 1:00pm]
CREW Austin - Boat Tour [9:00am - 1:00pm]
32
CREW Austin - Pioneering Environments, Space is now a Service [11:30am - 1:00pm]
BOMA Austin - SMT/SMA/BEC - Electrical Systems & Illuminations [6:00pm - 9:00pm]
ULI San Antonio - Leadership Luncheon [11:00am - 1:00pm]
13 Thursday
REDNews Newsletter [4:00pm] ULI San Antonio - Shark Tank [5:00pm - 7:00pm]
REC Austin - Exchange [8:00am - 1:00pm]
12 Wednesday
IREM Austin - CPM Class - FIN402 [8:00am - 5:00pm]
BOMA Austin - 2nd Annual Movie Night [4:00pm - 9:00pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com
CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com
GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org
whatâ&#x20AC;&#x2122;s going on
CREW AUS TIN
NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org
CREW Aus of YETI Co tin Members at Ha rd rporate H eadquarte hat & Heels tour rs in Austi n, Texas
BOMA AUSTIN
CREW SAN ANTONIO
CREW San Antonio 8th Annual Movie Mixer GREASE Movie Mixer
Boma Austin Seminar Be Prepared! Not Scared! Basic Self Defense Workshop
CREW San Antonio 8th Annual Movie Mixer GREASE Movie Mixer Pic 2018 No.2
CTCAR
pohskroW esnefeD fleS cisaB !deracS toN !deraperP eB ranimeS nitsuA amoB
CTCAR Networking Social held at Brewtorium sponsored by Savvy Inspections SEPTEMBER 2018
CTCAR Networking Social held at Brewtorium sponsored by Savvy Inspections E Movie
ic
Mixer P
.1 2018 No
33
NORTH TEXAS
SEPTEMBER
2018
North Texas CCIM Chapter
4 Tuesday
BOMA Fort Worth - SAC Meeting [3:00pm - 4:30pm]
17 Monday
REDNews Newsletter [4:00pm]
5 Wednesday
CREW Fort Worth - Luncheon [11:00am - 1:00pm]
18 Tuesday
BOMA Dallas - Air Handling, Water Treatment & Plumbing Systems [5:00pm - 8:00pm]
6 Thursday
ULI North Texas - GDPC Membership Breakfast Meeting [7:30am - 9:00am]
19 Wednesday
TREC Dallas - Transportation Revolution [11:30am - 1:00pm]
BOMA Dallas - Gala Happy Hour [5:30pm - 7:00pm]
BOMA Fort Worth - CSC Meeting [3:30pm - 4:30pm] Ladies in CRE - WellCommunity [5:30pm - 7:30pm]
10 Monday
REDNews Newsletter [4:00pm]
11 Tuesday
BOMA Fort Worth - Luncheon [11:00am - 1:00pm]
20 Thursday
REC Fort Worth - 2018 Panther City Dodgeball Tournament [4:30pm - 9:00pm]
NTCAR - Sales Success Series [4:00pm - 6:00pm] REDNews October Issue Deadline [5:00pm]
13 Thursday
CREW Fort Worth - Brews & BBQ [5:30pm - 8:00pm]
34
BOMA Fort Worth - Top Golf [5:30pm - 8:00pm] Greater Fort Worth Association of Realtors - Taste of TREPAC [6:00pm - 9:00pm]
21 Friday 24 Monday
NTCAR - CE: Broker Responsibility + Legal I & II [8:30am - 5:30pm] BOMA Dallas - Engineer, Lunch & Learn [11:30am - 1:00pm]
14 Friday
BOMA Dallas- Managing the Organization [5:00pm - 8:00pm]
Real Estate Summits & REDNews - Women in Real Estate [8:00am - 12:00pm] BOMA Fort Worth - Allied Council Committee Meeting [11:30am - 1:00pm]
BOMA Fort Worth - Education Committee Meeting [10:00am - 11:00am]
SEPTEMBER 2018
CCIM North Texas - Luncheon [11:30am - 1:00pm] IREM Fort Worth - Luncheon [11:30am - 1:00pm]
IREM Dallas - Luncheon [11:30am - 1:00pm] BOMA Fort Worth - Allied Council Panel Discussion: RE Company [1:00pm - 2:00pm]
12 Wednesday
NTCAR - Membership Meeting [7:30am - 9:30am]
CREW Fort Worth - Breakfast [7:30am - 9:00am] NAIOP North Texas - Chasing the Amazon Dream [11:30am - 1:00pm] REDNews Newsletter [4:00pm]
25 Tuesday
BOMA Fort Worth - Board Meeting [12:00pm - 1:30pm]
27 Thursday
TABB Dallas - Luncheon [11:30am - 1:00pm] CREW Dallas - 2018 Awards Banquet [6:00pm - 10:00pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS: ccimconnect.com/ ccimnorthtexas CORENET NORTH TEXAS: northtexas.
corenetglobal.org CREW DALLAS: crew-dallas.org CREW FORT WORTH: crewfw.org GFWAR: gfwar.org IREM DALLAS: irem-dallas.org
IREM FORT WORTH: fortworthirem.org LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR: scr-fw.org
TABB DALLAS/FORT WORTH: tabb.org/dallas_ ft_worth_chapter.php TREC DALLAS: recouncil.com REC GFW: recouncilgfw.com ULI NORTH TEXAS: northtexas.uli.org
what’s going on
BOMA DALLAS CASINO NI GHT
BOMA DALLAS CCIM NORTH TEXAS
BOMA Dallas Casino
Night
BOMA DALLAS
Allied Council Meet the Team Panel
BOMA Dallas July Luncheon
BOMA DALLAS Principal Member Meet
OYOTA MOTOR ENTRAL COURTY NORTH AMERICA HEADQUA RTERS ARD LOOKING NORTH TO DIN ING COMMONS
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FINALISTS FOR ULI NORTH TEXAS 2018 IMPACT AWARD EpicCentral Grand Prairie
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SOUTHEAST TEXAS
SEPTEMBER
2018 5 Wednesday
CREW Houston - Looking Back & Thinking Forward [11:30am - 1:00pm]
6 Thursday
ULI Houston - MyULI
7 Friday
CREN Gulf Coast - Luncheon [11:00am - 1:00pm]
10 Monday
CCIM Houston Gulf Coast - CI 104 Course [8:00am - 5:00pm]
18 Tuesday
FBSCR - Monthly Meeting [8:00am - 9:00am]
19 Wednesday
IREM Houston - Marketing & Leasing for Office Buildings [8:00am - 5:00pm]
20 Thursday
CREN Gulf Coast - Marketing Session [7:30am - 9:00am]
REDNews Newsletter [4:00pm]
11 Tuesday
CORENET Houston - Monthly Meeting [7:30am - 9:00am]
12 Wednesday
BOMA Houston - Membership Meeting [11:30am - 1:00pm]
IREM Houston - Marketing & Leasing for Office Buildings [8:00am - 5:00pm]
IREM Houston - Leading a Winning Property Management Team [8:30am - 5:00pm] BACREN - Luncheon [10:30am - 1:30pm]
21 Friday
IREM Houston - Leading a Winning Property Management Team [8:30am - 5:00pm]
24 Monday
REDNews Newsletter [4:00pm]
REDNews October Issue Deadline [5:00pm]
25 Tuesday
ACRP - Oktoberfest [5:00pm - 8:00pm]
ULI Houston - 8th Annual Sporting Clay Scholarship Classic [11:00am - 4:30pm]
26 Wednesday
ULI Houston - Harvesting the Value of Water [7:30am - 9:00am]
27 Thursday
TABB Houston - Chapter Meeting [11:30am - 1:00pm]
Real Estate Summits & REDNews - Women in Real Estate [8:00am - 12:00pm]
CREAM - Luncheon [11:30am - 1:00pm]
13 Thursday
CCIM Gulf Coast - Luncheon [11:30am - 1:00pm]
14 Friday 17 Monday
IREM Houston - Hurricane Harvey 1 Year Later [11:30am - 1:00pm]
CREN Gulf Coast - Happy Hour [4:30pm - 7:00pm]
BOMA Houston - RPA Course: Environmental Health & Safety [8:00am - 5:00pm] REDNews Newsletter [4:00pm]
36
SEPTEMBER 2018
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com
CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com
GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org
what’s going on
NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org
L to R: Wayne Landin, Russell Simmons, Vu Truong, Chuck Butler, Patrick Bilnoski
CREN Houston July 2018
CREN HOUSTON
Happy Hour (L to R) Wayne
L to R: Paul Daily, Kristi Von Woglom, Gregory Pendzich, Travis Hardey
Landin (KW Commercial
Texas Gulf); Russell Simmo
ns (Texas Area Propert
ies); Vu Truong (Trusto
ne Capital); Chuck Butler
(Allegiance Bank); Patrick
Bilnoski (C21 Comme
rcial)
L to R: Welcome Wilson Sr., Andrew Killion
CREN Houston July 2018 Happy Hour (L to R) Paul Daily (Riverway Title); Kristi Von Woglom (Regions Bank – Event Sponsor); Gregory Pendzich (Regions Bank – Event Sponsor); Travis Hardey (Hardey Group)
IREM HOUSTON
CREN Houston August 2018 Luncheon (L) Welcome Wilson Sr (Chairman, The Welcome Group); (R) Andrew Killion (President, CREN Gulf Coast)
CREMM Young Professionals tour Minute Maid Stadium IREM Houston Young Professionals tour Minute maid Stadium 7-25-18 led by Bobby Forrest, VP of Stadium Operations
SEPTEMBER 2018
37
CENTRAL SOUTH TEXAS
bulletin
Ken Espensen has joined REOC Partners as a Senior Vice President
AUSTIN, TX INDUSTRIAL SALE RGGD, LTD sold 1045 Reinli Street, a 36,676 sf multi-tenant industrial property to Anchor Equities, LTD. Greg Gaynor of Folkus Commercial represented the seller & Bennett Maddox of MADCO Commercial Real Estate represented the buyer. MANUFACTURING WAREHOUSE DEVELOPMENT Trine, Inc a real estate holding company connected to Chanel, purchased 50 acres in Velocity Crossing, which is located near Austin-Bergstrom IAH. They will be building a manufacturing warehouse on the property. MIXED-USE PROPOSAL Jonathan Coon, Austin resident & founderof I-800 Contacts, owns 144 acres on Shepherd Mountain west of Capital of Texas Highway near Pennybacker Bridge in northwest Austin. He is proposing to the City of Austin to preserve much of the open space & to build 25 single family homes, 40 condos & a 19,400 sf restaurant, clubhouse & 300,000 sf office space on the site. Coon is also hoping to purchase a 45- acre tract close by for a senior-living facility.
Image courtesy TFC
OFFICE DEVELOPMENT Construction has started on the $581 million Capitol Compelx in downtown Austin which includes a 14-story, 603,000 sf office building at 1801 Congress, a 12-story, 420,000 sf office building at 1601 Congress, 3800 parking spaces & a pedestrian mall along Congress Avenue from Martin Luther King Jr Blvd to 16th Street. It is scheduled for completion in 2022.
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SEPTEMBER 2018
OFFICE LEASE D&S Community Services leased 6,300 sf at 6800 Westgate Blvd. Kelly Woodruff & Erin Morales with CBRE represented the tenant. OFFICE LEASE Pulte Homes of Texas LP leased 15,934 sf at 9401 Amberglen Blvd. Nate Stricklen with CBRE represented the tenant. OFFICE SALE Tel Aviv-based Azrieli Group purchased a 249,870 sf office building at 3700 N. Capital of Texas Highway for $100.5 million from HPI Real Estate. Eastdil Secured’s Dallas office represented the seller. RESORT REDEVELOPMENT Omni Barton Creek Resort & Spa’s $150 million redevelopment at 8212 Barton Club Drive is underway. The makeover will increase guest rooms to 493 & include seven new dining options, a conference center, ballroom & outdoor pavilion, a 13,000 sf Mokara spa & a lighted, ten-court tennis complex. RETAIL LEASE Beto For Texas leased 7,019 sf at 6929 Airport Blvd. Bryan McMurrey with CBRE represented the landlord. RETAIL LEASE TCDP leased 7,019 sf at 6929 Airport Blvd for Democratic Party headquarters for fall campaign. Bryan McMurrey with CBRE represented the tenant.
BUDA, TX SPORTS COMPLEX DEVELOPMENT Buda Economic Development Corporation & Project Ace ownership group WAMSFTX have agreed to the development of a 30,000 sf indoor multi-use sports complex along Main Street & Campo Del Sol. The complex includes a 60,000 sf associated sport retail center for the entire development. It will be called Sunfield Station & is scheduled to open in 2019.
CEDAR PARK, TX
KYLE, TX
RETAIL SALE An undisclosed buyer purchased the 14,000 sf retail center located at 920 North Vista Ridge Blvd. Joey Mendez of Retail Solutions represented the seller & Dave Burggraaf of Retail Solutions represented the buyer.
INDUSTRIAL DEVELOPMENT Los Angeles-based Majestic Realty Company purchased 46 acres from Plum Creek Development Partners for the development of a 500,000 sf industrial project at the corner of I35 & Kohlers Crossing. American Southwest represented the buyer & Avison Young represented the seller.
CORPUS CHRISTI, TX OFFICE SALE The Ed Rachal Foundation purchased the 23 story Frost Bank Plaza located at 802 N. Carancahua Street from CC Frost Properties LTD.
FREDERICKSBURG, TX
MANOR, TX MULTI-FAMILY DEVELOPMENT RightQuest LLC has broken ground on the 248-unit Flats at ShadowGlen project located at ShadowGlen Trace & FM 973. It is scheduled for completion summer 2019.
SAN ANGELO, TX RETAIL LEASE Spirit of Halloween leased 29,817 sf at the Former Hostings located at 4238 Sunset Drive. Chris Flesner & Wes Tune with Retail Solutions represented the landlord & Britton Langford with Bright Realty represented the tenant.
SAN ANTONIO, TX Image courtesy The Beck Group
RESORT DEVELOPMENT The $78 million Seven Hills Resort & Conference Center is scheduled to break ground this fall on 22 acres at US Highway 87 North & US Hwy 290 West. It is being developed by Houston-based Murphree & Company. It will include a 150 room hotel with a rooftop bar, 35,000 sf conference center, 40,000 sf retail & restaurant village, an outdoor amphitheater, etc. Opening is projected for early 2020.
GEORGETOWN, TX HIGH-DENSITY MULTI-FAMILY DEVELOPMENT Berry Creek Highlands is planned as a mixed-use community on the west side of SH 195 near the Sun City neighborhood. The development will include 1500 residential units.
MULTI-FAMILY SALE Utah-based Triago Holdings LLC purchased the 288 unit Republic Woodlake apartments located at 7027 FM 78. MULTI-FAMILY SALE Los Angeles-based Gelt Inc purchased the 280-unit Barcelo project at 3501 Pin Oak Drive & the 300-unit Melia project at 3431 Oakdale Street from Trinity Property Consultants LLC. CBRE represented the seller. VACANT LAND SALE 1912 Broadway LLC purchased 2.0 acres at 1900 Blocksec of Broadway Street & Grayson Street. Phillipo Halliday with CBRE represented the buyer.
SAN MARCOS, TX MULTI-USE DEVELOPMENT San Antonio-based Casey Development LTD has started construction on Concho Commons between North LBJ Drive & North Guadalupe Street. The development will include retail space, offices, a parking garage & a 310-unit multi-family complex. It is scheduled for completion in 2020.
NORTH TEXAS Andre Bailey has joined Pioneer Realty Capital as managing director over commercial real estate lending.
CARROLLTON, TX
INDUSTRIAL LEASE Ten Eight Media LLC leased 9,663 sf of distribution space at 3361 Boyington Drive in Midway Business Center. Melanie Hughes & Bret Cooper with Bradford represented the tenant & Corbin Stall with Stream Realty represented the landlord.
COPPELL, TX
FITNESS CENTER DEVELOPMENT LA Fitness purchased 5 acres from Legacy Gateway Ltd. for development of a 37,000 sf fitness center at the northwest corner of SH 121 & Denton Tap Road. Amy Pjetrovic with Venture represented the seller.
DALLAS, TX
INDUSTRIAL LEASE TEC Interconnect leased 13,000 sf at 10990 Petal Street. Josh Barnes & Ben Wallace with Holt Lunsford represented the landlord & Troy Morgana with Structure Commercial represented the tenant.
Dalton Vann has joined CBRE’s Valuation & Advisory Services as a director & leader of the Right of Way Eminent Domain division.
sf in building #2, 99,000 sf in building 3 & 104,000 sf in building 4.
FORT WORTH, TX INDUSTRIAL LEASE Flowco Production Solutions leased 67,860 sf at 6633 Oak Grove in the Carter Distribution Center. Matt Carthey & Jake Jean with Holt Lunsford represented the landlord.
OFFICE LEASE Fort Worth-based advertising agency Simpli.fi is relocating to 77,000 sf in the Horse & Mule Barns on East Exchange Avenue in Fort Worth Stockyards. JLL represented the tenant. OFFICE SALE XTO Energy Inc sold the 119,846 sf W. T. Waggoner Building located at 810 Houston Street in downtown Fort Worth to Northland Properties Corporation. The buyer is the parent company of Sandman Hotel Group. Ryan Matthews with JLL represented the seller & David Walters & Marty Neilon with CBRE represented the buyer. OFFICE SALE/LEASE Grand Prairie-based Anthracite Realty Partners, owner & partner of D&M Leasing, purchased the four-story office building at 1400 W. Seventh Street from accounting firm Whitley Penn. D&M will occupy 20,000 sf in the building.
MANUFACTURING LEASE Vistaprint plans to open a new 322,000 sf manufacturing facility near the International Inland Port of Dallas in the southern sector of Dallas. Phase I construction will be completed by the end of 2019 with 200,000 sf & the remainder is estimated for completion by 2021.
FRISCO, TX
DALLAS, FORT WORTH, IAH INDUSTRIAL DEVELOPMENT Trammell Crow Company is planning to build 2+ million sf of speculative industrial space near the DFW IAH. The project will include four buildings in Passport Park including 1.1 million sf in building #1, 709,700
GRAPEVINE, TX
HOWE, TX, SHERMAN, TX VACANT LAND SALES John St. Clair, a broker with Younger Partners, sold two tracts of land to an undisclosed investor who is a “family that has owned land for generations”. The investors purchased a 634 acre farm in Howe, Texas, which is 55 miles north of Dallas and a 371 acre tract in Sherman, Tx which is 65 miles north of Dallas.
IRVING, TX OFFICE LEASE TF Holdings Inc leased 12,848 sf at 7701 Las Colinas Ridge in One Panorama Center. Duane Henley & Nathan Durham with Transwestern handled the transaction.
LEWISVILLE, TX OFFICE/SHOWROOM SALE JLK Ltd purchased a 7,278 sf building located at 550 Valley Ridge Blvd from TVC Communications LLC. Larry Rose, Jr. with Stewart Rose Properties represented the seller & Dan Spika with Henry S. Miller represented the buyer.
FITNESS CENTER LEASE LA Fitness leased 34,000 sf in Westwood Village located at the northwest corner of Illinois Avenue & Zang Blvd. Ben Hines & Mike Wilson with Venture represented the landlord.
MCKINNEY, TX Image courtesy Hunt Realty
MASTER-PLANNED DEVELOPMENT Hunt Realty Investments purchased the Headquarters Ranch, which includes 2500+ acres along the Dallas North Tollway, Preston Road & Highway 380, from the estate of Bert Fields Jr. The buyer plans to master-plan the property with the Karahan Companies. Development is expected to begin in 2019.
PLANO, TX
VACANT LAND SALE Dr. Becky Coats sold 32,979 sf of land at 2631 Ura E. Woods Avenue to a private investor. Scott Jackson with Capstone Commercial represented the seller.
OAK CLIFF, TX
OFFICE LEASE
Arcosa Inc, a division of Trinity Industries, leased 39,784 sf at Ross Tower located at 500 N. Akard. Craig Biggs, Brooke Armstrong & Kimarie Ankenbrand with JLL, along with Hunter Lee with HPI Real Estate Services, handled the transaction.
bulletin
VACANT LAND SALE Sentinel Capital purchased 37.65 acres at 1850 FM 546 in McKinney Industrial Park from KONE. Craig Phelps & Michael Haggar with JLL represented the seller.
MIDLOTHIAN, TX DATA CENTER DEVELOPMENT Google, through its parent company, Alphabet purchased an undisclosed amount of land for the development of a datacenter in Midlothian. They are projecting an investment of $500 million over five years.
MALL REDEVELOPMENT Farmers Branch-based Centurion American Development Group president & CEO, Mehrdad Moayedi has most of the Collin Creek Mail under contract & is negotiating for the remainder. He proposes to redevelop the property with a residential high rise, townhomes & condominiums, two office buildings, a hotel, music venue, conference center and restaurants. Construction costs are estimated between $800 - $900 million. The project had previously been under contract to Sam Ware of Plano-based Dreien Opportunity Partners. INDUSTRIAL LEASE Dobinsky Wholesale LLC leased 13,000 sf at 3701 E. Plano Parkway in Plano Business Park. Joe Whitmer & Emily Rankin with Transwestern represented the landlord.
PROSPER, TX
MASTER-PLANNED COMMUNITY SALE Tellus Group, a joint venture with Varde Partners & Texas-based developers Craig Martin & David Blom purchased the 2,030 acre Windsong Ranch from an affiliate of Terra Verde Group. Martin & Blom were the original developers of the project.
RICHARDSON, TX
INDUSTRIAL LEASE Aershin, Inc leased 20,143 sf at 1200-1260 International Parkway. Chandler Mason with Mercer Company represented the tenant & Dan Lawson with Proterra Properties represented the landlord.
TYLER, TX
INDUSTRIAL SALE 213 Investments LLC purchased the 121,000 sf building at 8521 FM 850 from Legacy Measurement Solutions. Randy Garrett with Transwestern & Brian Burks with Landbridge Commercial Properties handled the transaction.
SEPTEMBER 2018
39
SOUTHEAST TEXAS Nick Laettner has joined MORGAN as City Partner – Development.
BAYTOWN, TX INDUSTRIAL DEVELOPMENT Clay Development is building a 349,440 sf distribution center at Fisher Road & Grand Parkway called Cedar Port IV Distribution Center. Billy Gold & Joseph Smith with CBRE & Charlie Christ with Clay Development are handling sales & leasing of the project.
Matthew Skalka has joined Thomas Title & Escrow as Senior Vice President.
INDUSTRIAL SALE Houston-based industrial developer Vigavi sold the 63,550 sf building located at 5050 Westway Park Blvd. to private investment group GBP Industrial. Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell, Richard Quarles & Mark Nicholas with JLL handled the transaction.
FRIENDSWOOD, TX INDUSTRIAL SALE Arapahoe Texas LLC purchased the 21,000 sf Caliber Collision Center located at 4455 Rex Road from Convex Point LLC. Clay Pritchett & Zane Carman with NAI Partners handled the transaction.
HOUSTON, TX FITNESS FACILITY LEASE Lifetime Fitness is opening a 123,000 sf facility at 19250 Gulfbrook Drive in the Baybrook area. This is their second opening of three locations & will include athletic facilities, tennis courts, full-service spa & a restaurant. INDUSTRIAL DEVELOPMENT Hines purchased 107 acres at the southeast corner of Sam Houston Parkway & Gessner from Maxxam, Inc. for the development of a 1.5 million sf industrial/logistics park. The first phase of 500,000 sf will break ground by year end & Hines will sell a portion of the tract for retail & non-logistics usage. INDUSTRIAL LEASE Crosspoint Communications leased 10,000 sf at 8707 Fallbrook Drive. Blair Cherry with Blair Cherry Real Estate represented the tenant & Pat Wolford & Preston Yaggi with Lee & Associates represented the landlord. INDUSTRIAL LEASE ACF Global Logistics leased 17,000 sf at 4845 Homestead Road. Bill Ginder with Caldwell Companies represented the tenant & Kelly Landwermeyer with Holt Lunsford represented the landlord. INDUSTRIAL SALE 6750 Bender Road Ltd purchased a 76,000 sf building located at 6750 Bender Road from RBIP Transportation LLC. Mike Spears & Robert McGee with Lee & Associates represented the buyer.
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SEPTEMBER 2018
INDUSTRIAL SALE Wilson Investment Properties purchased a total of 459,390 sf in 19 buildings at 8807 – 8815 Emmott Road, Eldridge Business Center located at 6830 N. Eldridge Parkway, West Belt Business Center located at 6125 W. Sam Houston Parkway North, Winkler-Berry Brook located on 6000 Berry Brook Road, Keogh Business Center at 9230 Keough Road & 16623 Aldine Westfield Road. The sales price was $25.7 million. Joshua LassSughrue & Clay Pritchett with NAI Partners handled the transaction. MANUFACATURING BUILDING SALE S&R Realty Group purchased a 52,682 sf manufacturing building located at 6410 Langfield Road in Northwest Crossing Industrial Park from Buks Global Enterprises. Keith Bilski & Dylan Schopper with Finial Group represented the seller & Ron Roberson with Caldwell Companies represented the buyer. MULIT-FAMILY DEVELOPMENT Fein purchased a 3.4 acre tract located in the vicinity of Post Oak Park Drive & River Hollow for the development of a 304 unit luxury multi-family project. OFFICE LEASE The Center for ENT leased 20,000 sf at 4189 Bellaire Blvd. John Morton
bulletin Micha van Marcke has joined EDGE as Principal
Chace Henke has joined EDGE as Senior Vice President
Ryan Holliday has joined EDGE as Senior Associate
with Triple Crown Investments represented the landlord & Josh Marcell & Ryan Fossett with Moody Rambin represented the tenant. OFFICE LEASE Safoco Inc leased 35,000 sf at 9901 Regal Row. Jill Nesloney with Lee & Associates represented the tenant & Travis Land with NAI Partners represented the landlord.
Mark Sondock, Court Richardson, Ali Webre, Andrew Bagnell & Ralph Tullier have launched Ironbridge Realty Partners.
OFFICE SALE Transwestern Development Company sold the Westway Plaza building located at 11330 Clay Road to The Aztec Fund, a private Mexican equity fund. Jeff Hollinden & Dane Petersen with HFF handled the transaction. RETAIL LEASE Image Studios leased 5,927 sf in the Shops at Katy Reserve at FM 1462 & Spring Green Blvd. J.J. McDermott & Bob Conwell with NewQuest represented the landlord & Sasha Levine & Lacee Jacobs with CBRE represented the tenant.
WAREHOUSE/DISTRIBUTION EXPANSION MS Warehouse has expanded its lease of 75,000 sf at 2015 Turning Basin to 143,029 sf. Bob Berry & Grant Hortenstine with Avison Young represented the tenant & Richard Quarles & Joe Berwick with JLL represented the landlord.
KATY, TX
MEDICAL OFFICE DEVELOPMENT Wile Interests will build Medical Plaza West, a 70,000 sf medical office building in Katy Green, located south of I10 between Barker Cypress Road & Greenhouse Road. CBRE will handle leasing.
MAGNOLIA, TX
VACANT LAND SALE MAG Fund I purchased 221.75 acres at 21500 FM 1488 from Elvira Rodriguez Family Partnership. Rob Whitaker with NewQuest represented the seller & Jeff Lokey with NewQuest represented the buyer.
SUPERCENTER REDEVELOPMENT Florida-based Megacenter is redeveloping the 235,627 sf former Walmart Supercenter at 7075 FM 1960 into a mixed-use project. It will include a 113,940 sf gym, 47,319 sf of flex space, 6810 sf auto center & phase two will include 30,754 sf of selfstorage space & 15,101 sf of office space. Michael Johnson & Stuart Hepler with HFF represented Megacenter.
PINEHURST, TX
INDUSTRIAL SALE AAA Asphalt Paving Inc purchased a 19,000 sf building located at 19156 Circle Lake Drive. Travis Land with NAI Partners represented the buyer and David Claros with Caldwell Companies represented the seller.
WALLER, TX
VACANT LAND SALE Wolff Companies purchased 521 acres on US 290 in Waller & sold 270 acres of the tract to Long Lake Ltd for the development of a residential development of 1000 homes. Wolff will develop the remaining acreage with a business park.
Women
in Real Estate
advertiser index AA Realty Company 27 Anderson Realty Advisors 12, 25 Berkadia 2, 3
HOUSTON WOMEN IN REAL ESTATE SPEAKERS
BHHS - Anderson Properties 10 Caldwell Companies 13 CCIM Central Texas 30 City Bank 44 Cortinas Commercial Real Estate 11 CREW San Antonio 31
Cheryl Gajeske, Principal, PGAL
Christie Amezquita, Partner, SHOP Companies
Edna Meyer-Nelson, President & CEO, The Richland Group
Elke Laughlin, President, Laughlin Consulting Group
Susan Hill, Senior Managing Director, HFF
CTCAR 31 Cullen Realty Group 25 DAC Realty Group, Inc. 12 Equity Secured Investments 18 Greenberg & Co. 12 Hankamer Commercial Brokers, LLC 18 Howard Hughes 19 IREM Austin 31
Lori Bryant, Managing Director Asset Services, CBRE
Lynny Osenbaugh, MAI, CCIM, President, Osenbaugh & Associates
Melanie Edmundson, Principal, Phase Engineering
Michelle Wogan, Executive Vice President Office Leasing, Transwestern
Sandra Paige, COO, Veritas Title
Keller Williams Signature 18 Koontz Corporation 19 La Marque Economic Development Corp. 23 Levcor, Inc. 10 National Environmental Services, LLC 43 Phase Engineering 28 Pinecroft Realty 5 Ranch Realty 15
Beth Young, Senior Vice President Healthcare Services, Colliers
Real Estate Summits 7, 30
Jennifer Ray, Director of Multi-Family Investment Sales, Berkadia
Showalter Law Firm 18 Texas Ag Realty 9 The J. Beard Real Estate Company 17
DALLAS WOMEN IN REAL ESTATE SPEAKERS
WaterLogic, Inc 1
Coming Next Month: Beth Lambert, Executive Managing Director, Cushman & Wakefield
Leigh Richter Executive Vice President, Bradford
Diane Butler, Principal, Butler Associates
Liz Trocchio Smith, Founder & CEO, The Trocchio Advantage
Julie Young, General Manager, Crescent Real Estate Equities, LLC
Paula Beasley, Partner, Farrow-Gillespie Heath Witter LLP
Kathy Permenter, Co-Managing Partner, Younger Partners
Maureen Kelly Cooper, Executive Director Capital Markets, Cushman & Wakefield
Ka Cotter, Director, Blinksdale
Coni Hennersdorf, Partner, CODA Consulting Group, LLC
OCTOBER FOCUS
LAND INDUSTRIAL OFFICE RESERVE YOUR SPACE NOW
Kennis Ketchum, President, Portfolio Development
Laura Hoffmann, Attorney, Winstead
Susan Arledge, President Site Selection, esrp
Kyla Sadau, Superintendent, Scott & Reid General Contractors, Inc
Michele Langenberg, Vice President Asset Management, TIER REIT
713.661-6300 info@rednews.com www.rednews.com
SEPTEMBER 2018
41
ray’s buzz BY RAY HANKAMER rhankamer@gmail.com
O’Connor & Associates Land Forecast Luncheon-Speaker: Clint Hankla - Director, Lee & Associates Takeaway: The land market in the Houston Metro area is on a “sugar high”, and it is a good time to be a seller while the market is booming. Interest rates will probably rise ongoing. Inventories of usable land are shrinking and prices are rising. • Lots of activity on the west side of town as distributors seek warehouses to support the ‘last mile’ of delivery to consumers.
CLINT HANKLA
• Lots of ongoing activity on southeast side to support increased activity at the Port of Houston, where rail-served sites are in demand and selling at a price premium. • There is no industrial ‘spec’ development at the moment (without pre-leasing).
• We are coming up on the one year anniversary of Harvey, which has pointed out weak points in the development process; new regulations will be more costly to builders; new regs will require 18”-24” above what has been thought in the past in some areas to be the 500 flood plain…in addition, increased detention requirements will tie up more land and increase developer costs.
• There is some vacancy in scattered industrial sub-markets. • All-cash investors are seeking yield and are paying high prices for established industrial parks and individual properties, so it is a good time to be a seller. • Quality infill sites such as the Coca Cola plant on Bissonnet are in high demand and generate high interest as soon as they become available. • We have had three “500 year floods” in the past two years. • There is new construction of warehouses with up to 40’ heights, but facilities with lower ceiling heights that cannot be re-purposed may be razed and replaced with facilities more in favor with today’s users. Needs change in the warehouse world…many of the ‘state of the art’ warehouses built just east of downtown many decades ago are now being re-purposed to residential lofts.
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SEPTEMBER 2018
PORT OF HOUSTON. IMAGE COURTESY HOUSTON PUBLIC MEDIA
• Longer and more detailed permitting processes are causing developer heartburn by adding to uncertainty…and higher costs. • Some counties contiguous to Harris – which do not have the same flooding problems-are vying for developers to come out to them.
CERTIFIED & QUALIFIED National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in San Bernardino, California, are sister environmental consulting companies, established in 1995, that conduct a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround.
LICENSED, CERTIFIED AND QUALIFIED TO PERFORM A WIDE RANGE OF SERVICES, INCLUDING: • Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13) • Transaction Screens (ASTM E 1528-06) • Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency) • RSRAs (Records Search with Risk Assessments) • Phase II Subsurface Investigations* • Remediation and Corrective Activities* • Soil, Water, and Air Testing Services • Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* * Performed in Texas in partnership with Terrain Solutions, Inc.,Texas Geoscience Firm Registration # 50018
National Environmental Services, LLC 5773 Woodway Drive, Suite 96 Houston, Texas 77057 Tel: 281.888.5266 Toll Free: 833-4Phase1 hgabriel@nationalenv.com www.nationalenv.com
Gabriel Environmental Group 700 East Redlands Blvd, Suite U618 Redlands, California 92373 Tel: 951.545.0250 Toll Free: 833-4Phase1 hgabriel@gabrielenv.com www.gabrielenv.com
Satellite Offices: Portland (Tigard), Oregon and New York (Little Neck), New York
POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South,Suite 2537 S. Gessner, Suite 135, Bellaire, TX 77401 Houston, TX 77063
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