April 2015
In this issue: Two Marines at Work
Mil-len-nial Keeping Everyone on Your Team Honest
FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS
Don’t Sweat the Lone Star Slowdown
UNIQUE DEVELOPMENT OPPORTUNITY LOCATED AMIDST THE UPSCALE NW REGION OF SAN ANTONIO
Mellick Sykes | 210.496.7775 www.dirtdealers.com
22 WAUGH Âą1.089 acres
SWC of Waugh Rd. and Barnes St.
CBD (DOWNTOWN HOUSTON)
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PRICE: $119 PSF
22 Waugh is approximately 1.089 acres of land conveniently located along the West side of Waugh, nestled between the very desirable Washington Corridor and Memorial Drive Corridor. The VLWH DOVR EHQHĂ€WV IURP HDV\ DFFHVV WR DQG IURP 'RZQWRZQ 8SWRZQ *DOOHULD 7KH +HLJKWV .LUE\ 5LYHU 2DNV 0HPRULDO 'ULYH :DVKLQJWRQ Ave. and Interstate 10.
Bill McDade 713.577.1876
Kristen McDade 713.577.1808
Peter Mainguy 713.577.1782
Nolan Mainguy 713.577.1841
bill.mcdade@cbre.com
kristen.mcdade@cbre.com
peter.mainguy@cbre.com
nolan.mainguy@cbre.com
Dr.
4201 – 4251 DALE EARNHARDT WAY NORTHLAKE, TEXAS 76262
OVERVIEW Northport 35 Business Center is a 60-acre master - planned industrial park strategically located in Northlake, Texas. The project benefits from a host of logistical amenities in the immediate area including: the BNSF Intermodal Facility, Alliance Airport, Interstate Highway 35W connecting Mexico to Canada, the FedEx Southwest Regional Sort Hub and a high concentration of world class companies. With one of the lowest taxing jurisdictions in Texas, Northport 35 offers a distinct tax advantage for its industrial tenant base equating to substantial occupancy cost savings.
The three-building,
945,035 square foot park can accommodate tenants from 18,600 to 658,782 square feet.
TAX INCENTIVES • 10-year 75% tax grant on business personal property • 10-year 50% tax grant for real property tax • One of the lowest millage rates in North Texas
CONTACT US NORTHPORT35@STREAMREALTY.COM
Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream has grown from its two original partners to more than 550 real estate professionals nationwide. Stream leases and/or manages more than 120 million square feet of commercial buildings across the nation; completes over $1.6 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest.
ATLANTA I AUSTIN I CHARLOTTE I DALLAS I DENVER I FORT WORTH I HOUSTON I SAN ANTONIO I SOUTHERN CALIFORNIA I WASHINGTON, DC WWW.STREAMREALTY.COM
REDNews
IN THIS ISSUE
C O N T E N T & F E AT U R E S
PROPERTIES FOR SALE/LEASE
1 - 3, 5, 7 – 11, 13, 15, 17, 19, 21 1-3, 5, 7 – 12, 14 – 25, 27 – 29, 25, 27, 29, 41, 43 33, 36- 41, 54 – 56
COMMERCIAL SERVICES
Environmental 30 Legal Services 41 Moving & Relocation 41
WHAT’S HAPPENING IN TEXAS CRE
Calendar of Events 32, 34, 36 Networking Photos 33, 35, 37 Deals & Announcements 38 – 40, 42, 44
ARTICLES Two Marines At Work Keeping Everyone On Your Team Honest Milllennial Don’t Sweat The Lone Star Slowdown
4 | REDNews.com
12, 14 16 18, 20 26, 28
development tracts IN SAN ANTONIO, TX
• 4.57 Platted Acres • I-10 and Loop 410 • Excellent Opportunity for hotel, restaurant, retail or medical
• 21.23 acres • Approved Plat/ Highly Entitled • Located in the center of Stone Oak
• Hard corner of I-10 West & Balcones Creek Drive near Boerne • At the entrance to new large residential subdivision, Balcones Creek • SAWS water & sewer committed • Priced to sell now
• 47 Acres • Highest growth area in San Antonio • Ideal for multi-family or single-family development and pad sites
210.496.7775 ww w. d irtd e ale rs. com
REDNews
PUBLISHER’S LETTER
100,000+ CRE BROKERS, INVESTORS & DEVELOPERS
PUBLISHER Ginger Wheless ginger@rednews.com
Dear Readers,
T
his month we have a great article about five CRE Millennials who are having a major impact upon the Commercial Real Estate Industry. Spoiler alert: these guys are enthusiastic, hard-working, and wildly successful who in no way fit the negative stereotype associated with their generation.
Last month we wrote about “Women in Commercial Real Estate,” and profiled women who are changing the face of CRE. REDNews is all about the fantastic people in the real estate community and we take pride in publishing your accomplishments. Sad to say, even though our entire team works diligently to get it right, last month, we goofed! My sincere apologies to Susan Hill with Dow Golub Remels & Beverly LP as we incorrectly spelled her company’s name. Established in 2001, Dow Golub Remels & Beverly LP, is well known and respected, and we have no excuse for overlooking that typo. Mea Culpa, Susan! Many of you know Steve Pali, principal at Palico, Inc. We are inspired by the ways in which Steve and his family partner with others to make mission trips throughout the world to help disabled individuals. In June 2015, Steve is heading for Belize, where he has already committed to supply 150 people in need with wheelchairs at a cost of $200 per chair. If you can, please help with a donation for this upcoming mission trip. Donations are tax deductible, of course, and Steve will be sending you a receipt for your gift. You’ll also be getting a photo of the person who receives your generous gift as well as the satisfaction that comes from helping others. Next month REDNews will focus on ICSC RECON Las Vegas. We are looking forward to seeing you at that fun, albeit intense, four day event. As is our custom, REDNews will have a booth at the convention, so please stop by to say hello. If you’re not planning to attend and have retail properties we can help you promote, please give us a call and we’ll do whatever we can to give you a presence at the event. Hope you had a relaxing spring break, are having an outstanding 2015, and have exciting plans for the rest of the year!
EDITOR Marjorie Gohmert info@rednews.com
STAFF WRITER Janis Arnold janisarnold1@gmail.com Matthew Chisari matt@rednews.com Brandi Smith info@rednews.com CONTRIBUTING WRITERS Ray Hankamer rhankamer@gmail.com Jim Wilkie jimwilkie@swbell.net
ART DIRECTOR Mya Dale mya@rednews.com E-MARKETING MANAGER Melissa Tucker emarketing@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com
SALES Bri Martinez bri@rednews.com Ginger Wheless ginger@rednews.com
PRINT & DIGITAL DISTRIBUTION REDNews is directly mailed each month to commercial real estate brokers, investors & developers.
Best Regards,
Texas Brokers 7,650 Texas Leasing/Tenant Rep 6,232 Texas Investors 4,979 Texas Developers 4,710 Outside Texas Investors, Brokers, Developers, etc 81,577 Total REDNews Distribution: 105,148
Ginger Wheless
Please make your check payable to Ressurrection Luthean Church and mail to Steve Pali, Palico Inc, 11811 North Freeway, Ste 202, Houston, TX 77060
6 | REDNews.com
FOR
REDNews Has Gone Green Using Recycled Paper Thank you, Midway Press
Or Contact:
stevepali@sbcglobal.net | 281.931.9400
To subscribe to REDNews call 713.661.6300 or log on to www.REDNews.com/subscription/ 5909 West Loop South, Suite 135 Bellaire, Texas 77401
Investment/Leasing Opportunities Cypress Preserve Park | 210 Acres
FOR SALE
HWY I-45 AT FM 1960 Houston, Texas 77069 • • • •
Total Land Area: 210 Acres, Divisible 1-25 Acres Site Location: Hwy 45 and FM 1960 Business Park Environment Ideal Use: Industrial, Office, Retail and Hospitality (Freeport Tax Exemptions Available)
HWY I-45 NORTH OF FM 3083 Conroe, Texas 77304 TODD N. EDMONDS,
+1 713 830 2113
SIOR
todd.edmonds@colliers.com
MICHELLE SODERBERG
+1 713 830 4005
michelle.soderberg@colliers.com
± 1,450 Acres - Lakefront Investment
FOR SALE
HWY 980 ON LAKE LIVINGSTON San Jacinto County, 77364 • Size: ± 1,450 Acres • Located on the shores of Lake Livingston, a 93,000 acre lake, just 1 hour from The Woodlands • One of a kind properties offering over ± 3.5 miles of water frontage • Timber Exception • Asking Price: $6,206/Acre
Premier Development Site 12.27 Acres
Pricing: $3,741,368 ($7.00/SF) Available Acreage: 12.27 Acres Utilities: Provided by Harris County MUD #157 Flood Plain: Not located within the 100 year flood plain Key Map: 406Q Grand Parkway in now open, located 3 miles west of the property • FM 529 widening is now completed
Multi-Use Development Site | 4.44 Acres
• Excellent visibility and access with ± 1,900 SF of freeway frontage on I-45 • 15 minutes north of The Woodlands • Utilities available from City of Conroe • Flood Plain: Not located within the 500 year flood plain • Great mixed use site • Freeport Tax Exemptions available • Pricing: $3.75 PSF
The Meadows at Interwood
TODD N. EDMONDS,
+1 713 830 2113
SIOR
todd.edmonds@colliers.com
MICHELLE SODERBERG
+1 713 830 4005
michelle.soderberg@colliers.com
FOR SALE
• • • • • •
Rental Rates: $19.50/SF/Year - $22.00/SF/Year Spaces available from 1,500 SF to 56,787 SF Secure Class “A” suburban office building 4 story garage with free parking Fortune 500 and public company tenants Beautiful and serene forest environment with walking/ running trails • Professional on-site management
Premier Development Site ± 16 Acres
+1 713 830 2113
SIOR
todd.edmonds@colliers.com
MICHELLE SODERBERG
+1 713 830 4005
michelle.soderberg@colliers.com
FOR LEASE
ACE SCHLAMEUS +1 713 830 2192 ace.schlameus@colliers.com JENNY SECKINGER +1 713 830 2105 jenny.seckinger@colliers.com LIZ LEDOUX +1 713 830 2189 liz.ledoux@colliers.com
FOR SALE
FM 529 AND FRY ROAD Houston, Texas 77449 CHRIS D. WINTERS +1 713 830 2106
chris.winters@colliers.com
BILL BYRD +1 713 830 2131
• • • • • •
Pricing: $3,824,000 ($5.25 SF) (whole tract) Available Acreage: ± 16.7244 Acres Utilities: Harris County MUD #157, Tax Rate: $0.845 Flood Plain: Not located within the 100 year flood plain Detention: Regional Detention Pond available Key Map: 406Q
bill.byrd@colliers.com
FOR SALE
Premier Development Site 4.35 Acres S. HWY 6 AND HWY 288 Manvel, Texas 77578
• • • • • • • •
• Pricing: $1,625,000 ($8.58 SF) • Available Acreage: 4.35 Acres • Utilities: Municipal water & sewer is not available, there is a small water well with property to the east. • Flood Plain: Not located within the 100 year flood plain • Key Map: 652U
Houston, Texas 77375
CHRIS D. WINTERS +1 713 830 2106
CHRIS D. WINTERS +1 713 830 2106
chris.winters@colliers.com
BILL BYRD +1 713 830 2131
bill.byrd@colliers.com
NEC HWY 249 @ NORTHPOINTE BLVD
Price: $2,698,000 ($13.95/SF) Size: 4.44 ± Acres Frontage: Approximately 368’ along Highway 249 Key Map: 328H Utilities: Water & Sewer provided by NWMUD #15 Flood Plain: Not located within 100 year flood plain Possible Uses: Retail, Office, Medical Detention: Off-site regional detention provided
TODD N. EDMONDS,
14950 HEATHROW FOREST PKY Houston, Texas 77032
FM 529 AND FRY ROAD Houston, Texas 77449 • • • • • •
Premier Development Site 113 Acres
FOR SALE
chris.winters@colliers.com
A selection of Colliers International available properties, to view all listings, please visit www.colliers.com/texas
FOR SALE
CHRIS D. WINTERS +1 713 830 2106
chris.winters@colliers.com
909 Dairy Ashford Rd, Houston, TX 77079 Kris Lilly | klilly@tarantino.com
Peggy Rougeou| peggy@tarantino.com
ASHFORD PROFESSIONAL
• Two Story Medical Office Building • Renovated in 2008
• 30,999 Rentable Square Feet •S ervices the Memorial & Surrounding Neighborhoods
17030 Nanes Dr, Houston, TX 77090 Eric Ohlson | eohlson@tarantino.com
Peggy Rougeou | peggy@tarantino.com
NANES PROFESSIONAL
• Two Story Medical/Professional Office Building
• L ocated 2 Miles from the Houston NW Medical Center
• 11,929 NRA Contiguous Space Available on Second Floor
•1 5 Minutes from IAH & The Woodlands
908 E Southmore Blvd, Pasadena, TX 77502 Eric Ohlson | eohlson@tarantino.com
Peggy Rougeou | peggy@tarantino.com
908 E. SOUTHMORE
• 46,462 SF, Three Story Medical Office Building • 80 Free Surface Parking Spaces
•R ecently Renovated Lobby • Generous TI Allowance
2305-2339 Bingle Road, Houston, TX 77055 Eric Drymalla | edrymalla@tarantino.com
Peggy Rougeou | peggy@tarantino.com
BINGLE VILLAGE SHOPPING CENTER
• 3,263 – 15,000 SF Retail Space Available • Pylon Signage Available
• Extensive Parking • L andlord will Build-to-Suit for Credit Tenant
Personalized Service. Proven Results.
www.tarantino.com
1150 N. Loop 336 W., Conroe, TX 77301
3315 Burke Rd, Pasadena, TX 77504 Eric Ohlson | eohlson@tarantino.com
Grady Field |gfield@tarantino.com
PASADENA PROFESSIONAL
NOVA MEDICAL CENTER
• 5,650 SF Free-Standing Building •1 00% Occupied with Single-Tenant Triple-Net Lease through 2024
Peggy Rougeou | peggy@tarantino.com
• L ease Guaranteed by Memorial Hermann Medical Group • L ocated in a Major Retail Intersection in North Conroe
• Three Story Office Building • Beautiful Fully Remodeled Lobby & Common Areas
•C onveniently Located Across from Bayshore Medical Center • Generous TI Packages
12770 Cimarron Path, San Antonio, TX 78249
15340 Vantage Parkway E, Houston, TX 77032
Coni Jenkins| cjenkins@tarantino.com
Mike Nilsen | mnilsen@tarantino.com
DE ZAVALA
•3 ,000 – 10,000 SF, Flex Office & Biomedical S pace Available • Climate Controlled Warehouse
•G enerous Tenant Finish-Out Allowance
• Suite 250: 4,225 SF Warehouse & 3,336 SF Office Space Available
•N orthwest Location with Easy Access to I-10 & 1604
• Easy Access to Beltway 8, I-45 and IAH
CORPORATE OFFICE: 7887 San Felipe, #237 Houston, TX 77063 (713) 974-4292
INTERCONTINENTAL BUSINESS PARK
SAN ANTONIO OFFICE: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222
• 2 Semi-Dock High Loading Bays •1 Up- Ramp Allowing Drive in Access • Air Conditioned Warehouse
AUSTIN OFFICE:
502 East 11th Street, #400 Austin, TX 78701 (512) 302-4500
REDNews
Offering Properties & Hotel Consulting
Offering Properties &
PROPERTIES AVAILABLE
HAN HANKAM & ASS & ASSOC
• 12 Acres/Private Beach Resort Hotel Site - Galveston, TX
• Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX
• 30 Acres Commercial/Rail Serviced - Tomball, TX
• 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide
HANKAMER & ASSOCIATES BROKERS, L.L.C.
• Hotel/Retail/Restaurant/Office Sites - League City, TX
BROKERS BROKERS, L.L.C. 40 Years Experience As Developer, Owner & Operator
Contact: Ray Hankamer Brokers:
Hospitality Consulting Services
Ray Hankamer, Jr. rhankamer@hankamer.com
Pablo Szub szub@mail.com
Jamie Irvine jirvine@hankamer.com
Sergio Ortiz sortiz@hankamer.com
(713) 789-7060 • www.hankamer.com (713) 789-7060 • www.hankamer.com
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E l aine M er ianos | 713 .6 6 1 .6 3 4 9 | e la i n e @th e we ste r nvau l t. com 10 | REDNews.com
REDNews
river crossing ranch 6,430 acres - san saBa/mcculloch counties
sealed Bid - timed offering
Brokers welcome - inquire Below for prospectus
6.5 miles of san saba river form the northern boundary, with over 1.5 miles having ownership of both sides.
spectacular, multi-hued cliffs up to 150’ tall line sections of the river, providing unmatched scenery and surreal splendor.
rugged liveoak and mesquite country is home to scores of wildlife, and perfectly secluded with access at two points with little public exposure.
this historic ranch sits on top of huge groundwater resources, and includes springs, artesian well, part minerals, and 735 gpm irrigation well.
david e. culver, Broker 210.422.4676 dec@landtx.com 830.997.8616 www.landtx.com
REDNews.com | 11
REDNews
TWO MARINES AT WORK REDNews
BY BRANDI SMITH
T
he hazy blue sky stretches over the blocks of downtown Houston that surround the Cullen Center complex, eventually fading into the horizon. It’s a view one can only get 40 stories and nearly 550 feet up, though to dig into its history, you have to go back more than 100 years and nearly a mile into the ground. Hugh Roy Cullen moved to Houston in 1911 with the goal of breaking into the emerging oil industry. He earned the nickname “King of the Wildcatters,” discovering several major oil fields, including some that still produce today. Those were the foundation for Hugh Roy’s fledgling company, Quintana Petroleum, which ended up making him one of the richest men in America. Not long after losing his oldest son in an oil field accident, Hugh Roy and his wife Lillie made their first significant donation, funding construction of the Roy Gustav Cullen Building on the new University of Houston campus. That was only the beginning of the Cullens’ philanthropy, which led to the formation of the Cullen Foundation.
“A lot of the investments that Legacy Trust does are in the real estate business,” said Meredith Cullen, Roy’s youngest son. “Seeing my dad and [Legacy Trust president & CEO], Ned Naumes, work together - that’s how I gained an interest.”
Jason Shaw & Meredith Cullen
Hugh Roy started the family legacy, based on business savvy and hard work - a legacy that thrives in today’s generation of Cullens. After the sale of Quintana Petroleum, family members - including his grandson Roy Henry Cullen started Legacy Trust, a wealth management company.
It was enough of an interest for Meredith to jump into Houston’s booming real estate market, launching the Cullen Realty Group with partner, Jason Shaw, nearly two years ago. Meredith, a former U.S. Marine himself, says he saw something special in the retired Marine sergeant. “Any Marine who can lead a platoon into combat can surely handle real estate,” Meredith said. Shaw served in the Marines for nine years, deploying three times. The first two trips overseas included security work in Yemen and humanitarian efforts in East Timor. But his third deployment would be the Houston-area native’s last. 12 | REDNews.com
Continued on page 14
DEVELOPMENT TRACTS CLOSE TO EXXON MOBIL
Retail/Industrial & Multi-Family Sites
FM 1 1960
Tract 1
• 1,136 FF Kuykendahl Rd • 5.69 Acres NORTH FOREST
Tract 2
• • •
EAGLES AGLES LANDING
I-45
•
529 FF on Kuykendahl Road 9.92 Acres +/- 400’ NW of Ella Blvd. Great visibility on heavily traveled Kuykendahl Rd. GLEN ABBEY Y Located in dense residential area just west of I-45 Zoning: None Utilities: HC MUD #399 Key Map: 372B
. Rd hl da en yk Ku
• • • •
Tract 1 Tract 2 EAGLES EAG AG GLES LANDING BLUE ASH lvd. B Ella A RT XPLAZA P LAZA AT AIRTEX-E AIRTEX-ELLA QUAIL CHASE CHAS WOODS WOOD S OF KUYKENDAHL Grand Parkway (Proposed) da
en
yk
Ku
WOODFALL WOODFALLS WOOD DFALLS COURT CO OURT
hl .
Rd Ella
PRICED TO SELL!
Blv d.
VAND RB LT VANDERBILT
Tract 1: $4.50 PSF; Tract 2: $4.50 PSF
Brokers Welcome
PARK AT KIRKSTALL RKSTALL KSTALL
FULL 6% COMMISSION PAID
Rachel S. Grant
7887 San Felipe Suite 122,
Houston, TX 77063
(O) 713.789.3133 | (M): 281.686.2993 | RachelGrant@RSHart.com
R. S. Hart
Commercial Brokerage, L.L.P.
Continued from page 12
REDNews
In November 2004, Shaw and his squad were part of Operation Phantom Fury, a Marine-led effort against the Iraqi insurgency in the city of Fallujah. “We were going house-to-house and building-to-building clearing the city,” remembers Shaw. When his men came under fire in one home, they chased the shooters into another building. Shaw went first, but when one of his men swooped in to open a door, bullets started flying again. “As he ran past me, two grenades were rolled down the hallway,” Shaw says. “I swiveled to the right and one grenade went off. As I was crawling out the door, the other grenade went off.” The explosions left Shaw with substantial injuries, including a broken arm, broken leg, broken toes and four holes in his right arm. “You generally enlist for four years, but I spent an entire year in rehab and then ended up getting a medical retirement,” says Shaw. Retired and back in Texas, he pursued the passion he’d ignited before his final deployment: real estate. As Shaw explains it, “every day is a new adventure.” He’d already owned his own home, flipped an apartment building and taken real estate courses, so his next challenge lay in a rental home he purchased with his father. “It was like a father-son project, but instead of a ‘54 Ford, it was a 1954 two-bedroom house in Channelview,” Shaw reflects, chuckling. “We sweated all summer, tearing out sheetrock. But it worked out really well.” Up to that point, Shaw says he’d considered himself a professional investor, but a job offer from a broker prompted him to get his brokerage license in 2008, when he dove right in to commercial real estate. “That’s something that sets me apart,” says Shaw. “I had already owned multiple houses. I was already informed about investment concepts and got the license secondarily. So I understand where my commercial clients are coming from, what questions they have and pitfalls they need to avoid.” Since Shaw had returned from Iraq, he’d been involved in several veterans groups, including trips out to Cullen Ranch. “[Meredith] was gracious enough to invite groups of veterans to come out to the ranch and go hunting,” Shaw says. “So I got to see the ranch and go hunting before I met him.” But it was on one of those trips in late 2009 that the two connected for the first time, when a broker came out on the hunt as well. “[Meredith]’s talking to the broker about real estate and I pop off because I can’t keep my mouth shut about anything,” Shaw jokes. “We got to talking and then we met again at another veteran event. That’s when he said, ‘You’re probably happy where you are, but if you’re looking to make a change …’” “I meet Jason and I just said, ‘I want another Marine because I know Marines can get things done,’” says Cullen. 14 | REDNews.com
In what they describe as a “happy coincidence,” just as Meredith was looking for a new member of his team in 2013, the RE/MAX agent for whom Shaw worked sold her office. The two have been partners of Cullen Realty Group ever since. “We’re a very young company,” Cullen admits, but the firm is already building a reputation. “We are working now on some excellent commercial reserves for The Johnson Development company,” says Shaw. “And we co-brokered a great deal in the energy corridor at Park Ten and I-10 last year working for Shawn Gross and the Gross Fund.“ Cullen attributes that success to his and Shaw’s military background: “Once a Marine, always a Marine. I think that’s what separates us from everybody else.” Cullen says his goal is to build a full team of Marines, hiring three or four agents and brokers by the end of the year. “It’s something Jason and I can give back to Houston,” says Cullen. “These men and women who served overseas, - we want to give them jobs, give them opportunities so they can be self-sustaining and proud of what they’ve done.” The partners say there’s also a benefit for their clients, who will get the perks of military discipline. “Marines adapt and overcome,” he says. “Mission first. You tell us a mission and we’re going to figure it out. We’re tenacious. We know how to adapt: to our client and/or to the market.” Shaw echoes that: “Someone from military is particularly suited to real estate because they’re used to figuring out how to accomplish a mission. [We] seek out the knowledge, tactics and procedures to go about being successful.” More than 100 years after his great-grandfather made his fortune by drilling thousands of feet into the ground, Meredith Cullen gets to see Houston from a different vantage point: nearly 550 up in a downtown skyscraper. But the legacy of hard work fostered by the Cullen family lives on. Says Cullen: “I guarantee nobody’s going to out-work a couple of Marines.”
REDNews For all your commercial real estate needs, we’re here to point you in the right direction.
LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT Windvale Shopping Center For Lease & Pad Sites Available
Market Street Office Space For Lease
68 +/- Acres For Sale - New Listing
The Gardens Retail Center For Lease
9595 Six Pines, The Woodlands
27113 South Creek Dr, Magnolia
• Grocery-anchored center located at the signalized intersection of highly traveled SH 242 and FM 1488 • Spaces available from 1,000-6,237 SF • .6 acre, .9 acre, 1.6 acre pad sites available • Close proximity to Sam Houston State University - The Woodlands Campus, Lone Star College, & St. Luke’s Hospital
• 560,000 SF mixed use development • Class A office space above ground-floor retail • Located in the heart of Town Center • Convenient reserved, covered and surface parking • Professional on-site management
• Located at Caddo Lane & South Creek Dr. • Site is west of FM2978 & Dobbin Hufsmith Rd. • Ideal uses: single/multi-family development, investment property, or recreational facility • Growing market area • Magnolia ISD
• Consists of 58,460 SF and is situated on approximately 10 acres. • 15,485 SF available with 9,483 SF of contiguous space. • Excellent visibility with direct access to I-45 South frontage road • High traffic counts (300,000 cpd – I-45 South)
22.93 Acres For Sale
Red Oak Surgical Arts Building For Sale
Industrial Flex Building For Lease
Gilder Business Park For Sale or Lease
9420 College Park Dr, The Woodlands
20103 Stokes Rd., Waller
17203 Red Oak Dr., Houston
15125 North Freeway, Houston
8967 Gilder Rd., Houston
16753 Donwick Dr., Conroe
• Property located at the Northeast intersection of Hwy 290 at Stokes Road just north of FM 2920 • Adjacent 6.126 acres (not a part of but available for sale, has 700 ff facing 290) • Utilities: City of Waller • Great investment property for future development • Potential Uses: Big Box Retail, Grocery, pad sites
• 2 Story Medical/Office Building, 14,232 SF, close proximity to Houston Northwest Medical Center. • 88% Leased, 1,600 SF leasable space on 1st floor • Close to various area retailers, including restaurant, daycare, other medical office buildings. • Conveniently located 0.7 miles north of FM 1960, 2 miles to I-45 and 5.3 miles to Hardy Toll Rd. • High traffic volume – easy accessible to FM 1960 • Parking: 6/1,000 surface
• INDUSTRIAL/FLEX BUILDINGS with 1,400 – 6,200 SF currently available. • Located in a well-established, light industrial park adjacent to The Woodlands. • Within 1 mile of major amenities such as St. Luke’s Hospital, Walmart, Home Depot, Lowes, Lone Star College, Sam Houston University, Woodforest Bank Stadium & Natatorium (10,000+ seats), among many others. • Easy access to Interstate 45 and just minutes from the Hardy Toll Road. • Excellent access – under ½ mile to I-45
• INDUSTRIAL/FLEX BUILDINGS available for lease – 2,600 SF in (Bldg. C) & 8,000 SF in (Bldg. B) available. • Located in a well-established, light industrial park near N. Gessner Rd. and the Sam Houston Pkwy. Toll way. • Within close proximity of major amenities such as Champions Golf Club, Costco, Sam’s Club, Sam Houston Race Park, Willowbrook Shopping Areas, among many others. • Easy access to SH249 and the Sam Houston Pkwy. Toll Road.
Free Standing Building For Sale
Technology Medical Plaza For Lease
Willowbrook Place I & II For Lease
Pines Crossing For Lease
4185 Technology Forest Blvd., The Woodlands
17350 & 17314 SH 249, Houston
431 Nursery Rd., The Woodlands
9125 Jones Rd., Houston •3,498 SF building, situated on .46-acre lot. •Great location with 102’ of frontage on the West line of Jones Road. •Located approximately .8 miles North of HWY 290. •Metal frame, brick building with a flat roof. Currently being used for a dry cleaner with drive through lane. Equipment and business will be removed prior to sale, or maybe be purchased for an additional fee.
•Property is located at a signalized intersection on the southwest corner of Research Forest Drive and Technology Forest Blvd., less than 2 miles west of Interstate 45. • 6,169 SF available, divisible by 2,000 SF on second floor. • Parking: 6 spaces per 1,000. Covered parking available. • Security card access after hours.
• • • •
1,400 – 2,600 +/- sq.ft. available Full Service Gross Parking: 3/1,000 surface Located on the periphery of Willowbrook Mall, at State Highway 249 feeder. Easy access to FM 1960 and to Beltway 8 from SH 249.
• • • • •
Efficient Floor Plans From 563 – 1,455 SF Move In Ready Approximately ¼ Mile From Access to I-45 Approximately 1 Mile From Hardy Toll Road Exceptional Nearby Amenities on Sawdust Road
10077 Grogan’s Mill Road, Suite 135 The Woodlands, TX 77380
281.367.2220 jbeardcompany.com REDNews.com | 15
This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.
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BUZZ
KEEPING EVERYONE ON YOUR TEAM HONEST REDNews BY: RAY HANKAMER
WHILE RUNNING A SUCCESSFUL BUSINESS
T
here are many little ways revenues you work hard to bring in can be diverted from their hoped-for destination: the bottom line.
Sometimes the line between sloppy or lax management and pure dishonesty on the part of employees can be blurred, and it is up to you as owner / manager to run a tight ship. Diversion of revenues from the bottom line can take some of the following “disguises”: Sacred cow employees who have long since failed to carry their weight in the organization remain on the payroll. Put these “cows” out to pasture! Ancient bonus plans which no longer serve their purpose as incentives. All too often a bonus plan is assumed to be part of the salary by the employee, and ceases to be what it originally was: a motivator to higher levels of productivity. Overtime abuse. Employees who work your system to ensure that they get fat overtime pay, when a reorganization or re-scheduling could eliminate most or all overtime pay. Too-powerful employee cliques or internal power structures. The U.S. military and most major corporations with far-flung offices around the country or around the globe rotate their executives, re-shuffling the management deck, on a periodic basis. This is to prevent remote outposts from becoming too entrenched and taking management into their own hands and defying central management. Make sure you get a full eight hours of work-or whatever you contracted for-from your employees. Years ago one of the first huge worldwide information services companies ran a study on what the payroll cost was for employees who took their “daily constitutional” on company time, accompanied by a newspaper or magazine in many cases. The payroll costs were in the millions of dollars, and a memo went out urging employees to take care of personal business while off the clock. Gifts and other gratuities to your managers from suppliers. It might be a simple thing like a fishing reel, or a basket of cosmetics, or tickets to the ball game to your purchasing people from vendors. These gratuities can cost your company real money if your people are persuaded to buy from purveyors who give gifts so they can sell their goods or services to your company at higher than market prices. Embezzlement, theft, and other bad stuff. No matter how good your systems and controls and checks and balances, if you have a sizeable organization, someone has found ways around the controls. 16 | REDNews.com
When I ran a large hotel company with 1,000 employees, I always picked up the mail from the P.O. box one day a week (Saturday), and opened every bill, letter, and other pieces of correspondence. I signed every check to purveyors, and my accounting department never knew if or how carefully I reviewed the back-up which I required to be clipped to each check. The back-up required a signature from the person receiving the goods or services, the department head at the hotel, the general manager at the hotel, and the clerk in our home office preparing the check. If there was going to be fraud, it would have to involve a lot of people. I also did an occasional surprise personal delivery of payroll checks to the hotels. I wanted to hand the check to an actual person, to make sure I had no “phantom employees”. I had our Controller conduct surprise audits of safes and petty cash boxes maintained by the different managers, no matter how large or small the “bank”. I was surprised to find how often a manager had personally “borrowed” from petty cash, and it often led to discovery of other practices that were even worse. I once noticed that a bookkeeper at a hotel making $30,000 per year was driving a Suburban which was nicer than mine. I had an investigation done by our accounting department and they caught the man stealing from cash deposits on Friday night from the large bar operation. Upon reporting the crime to the police in the local area, we were stunned to see that the detective who was sent out on the case was simply a cop who had been “promoted” from the beat. When we tried to explain the way the bookkeeper had been falsifying reports, the detective’s eyes glazed over at such terms as “debit” and “credit”, so our only recourse was to fire the bookkeeper. All too often the employee who has developed “bad habits” is one of the longest tenured ones in the company, and ‘no one could imagine him/her EVER doing anything wrong’. It is up to you as manager to not give them the chance. The classic story is of the former boss and former factory worker who ran into each other at the pub, after each had retired. The boss said “Sam, now you can tell me, since we are both retired. I always knew you were stealing from the company, and at the end of each day when you pushed your final wheelbarrow full of sawdust out the factory gate, I had it inspected. We never found anything, but we still knew you were stealing. So WHAT were you stealing?” Sam grinned, took a draft out of his beer mug, and said: “Wheelbarrows.”
REDNews
Northwest Houston Commercial Properties 1. 1.3 AC Commercial Land – Lakecrest Manor Dr & Katy Fort Bend Rd 2. 1.4 AC Retail Land – Fry Rd & Coldfield Dr 3. 2.9 AC Retail Land – Grant Rd & Malcomson Rd 4. 4.1 AC Commercial Land – West Rd (SOLD) 5. 6.3 AC Commercial Land – Easton Commons Dr near West Rd 6. 6.7 AC Commercial Land – FM 529 near Barker Cypress Rd 7. 7.4 AC Industrial/Office Land - West Little York Rd (UNDER CONTRACT) 8. 14.4 AC Retail/Multi-Family Land - NEC Fry Rd & Longenbaugh Rd 9. 5.3 AC Commercial Land - NEC FM 529 & Katy Hockley Cut Off Rd 10. 76.5 AC Commercial Land - Schiel Rd at Grand Pkwy
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REDNews BY: BRANDI SMITH LAZY. ENTITLED. NARCISSISTIC. SPOILED. SOCIAL MEDIA ADDICTS. KNOW-IT-ALLS. sk someone what defines the millennial generation and it’s more than likely they’ll use at least one of those phrases to describe those who came of age around the turn of the century. But when it comes to millennials in Texas’s commercial real estate industry, many are the antithesis of the stereotype. “I’ve had some conversations with friends about millennials,” says Jewels Watson, project manager for the Drenner Group of Austin. “I didn’t realize I fell into that category.” Clear definitions of generations are difficult to ascertain. Most are vaguely related to time periods, i.e. “baby boomers” born after the end of World War II. Generations X and Y have loose timeframes, overlapping by a decade, depending on the parameters. However, researchers, Neil Howe and William Strauss, concluded that millennials are “those born in 1982 and approximately 20 years thereafter.” “Millennials get the bad rap of feeling entitled and of not wanting to work hard. They want things to come easy to them,” the 28-year-old Watson says. “But I don’t believe that.” Neither do some of the biggest names in real estate, including Warren Buffett. The billionaire made waves in late 2013 when he announced he was assembling a team of millennials to advise other Berkshire Hathaway HomeServices employees. Their goal: teach other real estate professionals how to effectively reach and serve their millennial peers. Even as the generation’s value is heralded by high-profile influencers such as Buffett, Texas’s millennials in commercial real estate say they’ve run into obstacles when it comes to their age. “People are going to
A
18 | REDNews.com
look at you and assume your experience level,” says Riley Baldus, a 29-year-old project manager for PSW Real Estate in Austin. “That’s always a challenge.” Paul Byars, a 25-year-old agent at Austin’s Sayers & Associates, Inc., says a lot of that criticism is industry-specific. “I think there’s always a credibility issue for young folks in a field that has low barriers of entry,” he says, referring to the minimal requirements needed to acquire a real estate license. Byars and his peers, including Drew Smith, understand the hesitation clients and other real estate professionals might feel when starting to do business with millennials. But, they say, allaying those fears is as easy as a frank conversation. “You have to prove yourself a little bit more on the front end and educate clients that you do know the market and you do know what you’re doing,” says Smith, a 28-year-old broker at Valcore Commercial Real Estate in San Antonio. Baldus agrees, adding: “I think it’s really sitting down with people and helping them understand that you understand the merits of a situation.” 26-year-old Adam Beck, a senior analyst with Dinerstein Companies in Houston, points out you can only do that once you have a couple years or a few projects under your belt. When he was just getting started, he says his key to success was asking questions - a lot of them. “I can say I’m still learning today; I ask questions of my superiors all the time,” says Beck. “Try to learn as much as you can.“ “I have a personal desire to research and turn over stones and understand the ultimate outcome,” Baldus says, explaining the elaborate process he went through to decide on Continued on page 20
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208 Barton Springs Rd Boat Dock Austin, Texas 78704 United States
1700 Dowling Available For Lease/Sale
Land Area: 34,407 SF Utilities Available ATASCOCITA Accessible from Major Freeways Excellent Visibility
12836 Westheimer
6111 Richmond Ave.
Westheimer Road
www.ctcaronline.com Online registration is available until: 4/15/2015
95,007 SF Close Proximity to Major Retailers Westheimer between S. Dairy Ashford & Eldridge Parkway
100,000 SF Less than an mile to Southwest Freeway, Westheimer Rd. & The Galleria Between Hillcroft & Fountain View Dr.
Contact Broker: David Greenberg - David@greenbergcompany.com Phone: 713-778-0900 Fax: 713-782-7445 5959 Richmond Ave., Houston TX 77057
REDNews.com | 19
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Continued from page 18
20 | REDNews.com
Adam Beck
Jewels Watson
Riley Baldus
Paul Byars
on those relationships you built to keep you in it,” says Watson. “Really put yourself out there, get to meet new people and build strong relationships.” Smith points out that a vital part of networking is finding a mentor, someone who will help you grow and answer any questions you may have about the industry. “Having someone who will teach you, who’s willing to include you on work that they’re doing so you get the experience so you can launch and bring your own deals in as quickly as possible, is more important than anything else,” he says. While millennials do face the obstacles of youth and inexperience, they’re finding success with Texas companies who focus on their assets: their tech knowledge and their taste. Clint Sayers, president of Sayers & Associates, Inc., says he’s made hiring “young, motivated individuals” a priority for several years. Far from the stereotype of their generation, Sayers calls the millennials he’s hired “community-minded” and “innovative.” “[They] use technology for efficiency and resolving issues,” says Sayers.
“Real estate will always be done on a person-to-person relationship basis, but if you can gather information and present information in a more simplistic manner, it makes the process much more efficient,” says Beck. “I think that’s where millennials are having an impact: speeding up the process with information and being able to present it in a more logical manner.” Smith, a millennial himself, points to his company’s marketing director as an example of the generation’s savvy. “She brings a knowledge of technology and design that’s a lot more up-todate than you’ll see in groups that have been doing it the same way for a long time,” Smith explains. “We have virtual tours of all of our properties so people can go and view it really quickly. That helps educate potential tenants about spaces before they’ve even gotten inside of them.” Millennials’ stereotyped online addiction could also shift how real estate deals develop, predicts Beck. “The younger generation who networks through social media more than faceto-face will change that a little bit,” he says. “I think it will break down some of those barriers because everything’s becoming so much more interconnected. People in our age group don’t have a fear of reaching out and using social media to become more informed and make a better decision.” While company presidents such as Sayers value this new generation’s tech fluency, they’re also exceptionally interested in how millennials see development in the future. “They have brought renewed strategic thinking to a company that was founded 38 years ago,” he says. “Far from feeling unwelcome or dismissed, I think the millennials in commercial real estate are looked to as a bellwether for where the next generation will want to live, work and play,” says Byars. “[They are] completely changing the commercial real estate market, whether they work in it or not,” Beck says. “The biggest challenge we have is figuring out what the preferences of the millennials are going to be over the next three to five years, what they’re going to want and what they’re not going to want.” “There’s so much in the news today about businesses working in innovative spaces,” comments Watson. “I feel like the millennial generation is going to be more open to that sort of environment. That in its own way is going to affect commercial real estate in so many other ways.” Sayers agrees, attributing hiring millennials to building a direct connection with a new generation of decision-makers. “Generally they are the strong advocates of high density, urban development. They seem to place emphasis on walkability and other alternative modes of transportation,” Sayers explains. “These desires will continue to shape neighborhoods and increase investment in central city cores and more development of urban nodes such as The Domain and Mueller in Austin.” “We’re the ones they’re selling to,” points out Baldus. “We’re the ones they need to listen to in terms of what we want.” Breaking away from the stereotypes that seem to define their generation, many millennials are racking up successes. From project managers, to analysts, to brokers, to agents, these men and women strive to recharacterize how their generation is viewed by those who preceded them. Instead of the lazy, spoiled, narcissistic know-it-alls they’ve been labeled as, this crop of professionals is hard-working, inquisitive and driven -- qualities that can only help strengthen the Texas commercial real estate industry.
Drew Smith
his finance major in college. “I analyzed my options of a major: What’s the outcome? Who would I work for? What would my job be? Then I researched those companies that I was interested in working for to truly understand what their day-to-day job was.” Along with asking questions, Smith says someone with a strong work ethic will go far in the commercial real estate industry. “I think you just have to be willing to work any deal that comes in the door in your first few years,” he says. That hard work factors into Byars’ success, which he says hinges on goal setting. “At my company, we really stress setting and honoring our goals,” he says. “In doing so, that requires hard work, consistency and time.” Once they’ve cultivated a solid reputation, successful millennials in Texas commercial real estate attribute networking to helping them progress forward. “I think that reaching out to the people you already know and educating people about what you’re doing is really important as well, so they have you in mind when they need space,” Smith says. “The market won’t always be good and that’s when you’re going to rely
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22 | REDNews.com
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• +/- 159 Acres • Owner will divide • Great Location! 7 miles west of Magnolia & SH 249 & 20 miles from Woodlands area • +/- 20,000 SF warehouse also on property • $15,000/Acre
23889 FM 1488 Magnolia, TX 77355
Highway 6 N. & Kelley Street Hempstead, TX 77445
• +/- 168 Acres • Located just north of Highway 290 • Three Separate Tracts: • 7.332 acres @2.50 SF • 32.4 acres @$3.00 SF • 129 acres @ 11,000/Acre
• +/-44.23 acres • Adjoins the western border of Kleb Woods Nature Preserve • Less than 10 miles from Hwy 290 & SH 249 • $27,500/acre
24 | REDNews.com
Draper Rd
E D IC CE PRDU RE
Jo e l C . En g lis h , SIT ER R A Pr o p e r tie s , L L C 7 1 3 .4 7 3 .7 2 0 0 | jo e l@ s ite r r a @ p r o p e r tie s
1488
Mueschke Rd
Kelley St
Highway 290 Hempstead, TX 77445
8
148
• +/- 329 Acres; Divisible • Frontage on both Hwy 290 & FM 1488 • Three separate tracts – available all or part • $15,047,802 Total Price
Draper Road Tomball, TX 77375
REDNews
Hwy 290 & FM 1488, just east of SH 6 exit to Bryan/College Station Frontage on both Hwy 290 & FM 1488 Three separate tracts – available all or part $15,047,802 Total Price
TEXAS COMMERCIAL PROPERTIES
± 46 AC
FOR SALE - PRIME LOCATION Offered At: Call for Details
FM 1764 Just West of I-45 Retention: Pending
Improvements: Proposed Traffic Light on FM 1764 at/near property. Location pending. Utilities: Available Retail/Restaurants/Developments: Wal-Mart, Sam’s Club, Gulf Greyhound Dog Park. Ihop, various retailers & restaurants.
Daily Traffic Count: 16,000 Pad Sites: Available (May Subdivide)
Close to residential developments and major businesses Scot P. White | 281.650.4875 | scotpwhite@comcast.net Lauren J. White | 713.252.4004 | whitelauren@comcast.net
TEXAS COMMERCIAL PROPERTIES
REDNews
DON’T SWEAT BY: MARK W. DAVIS CO-AUTHOR OF “DIGITAL ASSASSINATION”
THE LONE STAR SLOWDOWN The nation’s economy won’t be dragged down by Texas’ oil-fueled woes.
“Y
ou may all go to hell and I will go to Texas,” Davy Crockett announced in a Tennessee bar after losing an election. But what happens if Texas itself were to go to hell, economically speaking? The gleam of the Lone Star State has shone through the general gloom of the slowest national economic recovery in modern history. Now, with the price of West Texas Intermediate crude oil hovering around $45 a barrel, and unleaded gasoline selling for as little as $1.75 a gallon, many worry that the energy dependent Texas economy will lapse into recession. You don’t have to be a Texan to care about the state’s fortunes. A sputtering Texas economy would have national – and global – consequences. Now America’s second-most populous state, Texas has a Spain-sized economy greater than $1.5 trillion, representing about one-tenth of national output. From 2009 to 2013, Texas enjoyed a robust growth rate of 4.4 percent a year, about twice the national average. Sheryl Jean of The Dallas Morning News calculates that since 2009 Texas has created nearly one out of every four jobs nationwide. There is no question that the remarkable “fracking” revolution in shale oil and natural gas production has turbocharged the state’s economy. Texas, which produces more than one-third of the nation’s oil, has seen its oil production double in three years. Oil and gas today represent about 11 percent of total economic output in Texas, the same as it was in the mid-1980s. These are worrying numbers to anyone familiar with the boom-and-bust cycles of the oil and gas industry. Like Depression-era Americans, Texans are haunted by the painful memories of the mid-80s when the oil patch dried up. The collateral damage was immense. In those years, more than 700 Texas banks went bust, and home prices in Texas fell 14 percent from their peak. The result was widespread joblessness, empty apartment buildings and decaying suburbs.
26 | REDNews.com
In fact, a Lone Star slowdown is already here. The Federal Reserve Bank of Dallas released a survey of Texas businesses this week showing a drop in general business activity. Of course, it would be a supreme irony if the improving economy that President Barack Obama bragged about in his State of the Union were suddenly tossed back into the soup by the ultimate red state recession. But before we start stocking up on beef jerky and ammunition, I see six reasons why the nation’s tenuous national recovery will not be dragged down by a Texas recession. First, there is more to oil than “upstream” exploration and production. The “downstream” refinery segment “cracks” hydrocarbons into the fuels, lubes, plastics and other synthetics that are the raw materials of manufacturing. And for the downstream, the cheaper and more abundant the resources – whether they are from the Eagle Ford Formation in Texas or the huge reserves of the Canadian oil sands – the fatter the margin. The Gulf Coast is thus producing the inexpensive material basis for what many call an American manufacturing Renaissance. Second, Texas today has a highly diversified knowledge economy. The state’s strong 3.6 percent employment-increase last year saw the most jobs added to professional categories, from architects to IT. The hills Continued on page 28
REDNews
Medical Development Acreage Athens, TX AVAILABLES MEDICAL CENTER
Office Space For Lease 2700 Research Forest Blvd. The Woodlands
79 +/- ACRE0 $1,600,00
UNDER CONTRACT UNDER CONTRACT
AVAILABLE
Large Acreage with Development Potential at Hwy. 19 and Loop 7 in Athens, TX, directly across from East Texas Medical Center. Owner will subdivide. Two hard corners available. 13 commercial zoned acres lie within the city limits, allowing for retail, medical, office and some light industrial uses. High visibility regional corridor.
• Beautifully appointed office space • Up to 49,372 RSF available; divisible • Woodland campus setting with lake • Parking: 3.5:1000 • Furniture available
30 +/- Acres
Joel Dalak TIG Real Estate Services jdalak@tigusa.com 713.974.5226
UNDER CONTRACT GMason_RedNew_3.9x4.7_0315.indd 1
3/16/15 8:47:38 AM
NORTH HOUSTON
h t t p : //4st ard ev.co m/f eat u red-l i s ti ngs . html
$9,900/acre • 3,302 acres of rolling wooded property perfect for residential use. • 4,000+/- feet of I45 Frontage, with 145+/- of Commercial use. • Borders over 7 miles of National Forest or State Park. • Has I-45 access • Just 25 miles north of The Woodlands & The ExxonMobil Campus on I45. • Just 15 miles north of the new 2,200 acre tract (I45 & FM 830) purchase by Hughes Corp. (The Woodlands)
R ick Gaul | rick 4land@gmail.com | 281.475.5 111 REDNews.com | 27
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above Austin are dotted with Silicon startups. Houston is the undisputed energy capital of the world, selling its expertise from Brazil to Central Asia. Home to the world’s largest medical complex, Houston is also famous as a global center of medical knowledge. Third, the state’s 27 million consumers are benefiting from the unofficial pay raise of cheap gasoline, just like everyone else. Agriculture is especially benefiting, with ranchers smiling at their low gasoline bills and farmers saving on everything from diesel to fertilizer. Fourth, Texas banks, burned by the freewheeling days of the 1980s, are downright conservative. A constitutional limit on home-equity borrowing arguably makes Texas banks more resilient than those of the rest of the country. Fifth, the current low price of oil is a product of geopolitics, with Saudi Arabia aiming to drown Iran in cheap oil. In a Middle East roiled by multiplying conflicts, oil markets could flip from cheap to dear in a day. Sixth, Texas would be a national economic miracle even without oil and gas. Texas is thriving because it keeps a tight rein on the size of government, emphasizing smart regulation with a minimum of redtape. That is why so many companies like Toyota and Occidental Petroleum are emulating Davy Crockett by coming to Texas. However the world price of oil affects Texas, the rest of America might do well to emulate the success of its business-friendly public policies. 28 | REDNews.com
Continued from page 18
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FALLLAND CREEKFO COMMERCIAL
UP TO ±50.62 ACRES/OWNERS WILL SUBDIVIDE N A S A P A R K WA Y & WA T E R S T R E E T
Co mmerc i al Reserv es A va ila b le
N SAM HOUSTON PKY E, HUMBLE, TX
• Edgewater a +/- 538 acre mixed-used redevelopment project by Johnson Development and Cherokee Investment Partners
• Over 2,000 feet of frontage on the Beltway • MUD formed & utility infrastructure in place • Ready for development
• 10 minutes to IAH; 20 minutes to the Port of Houston & I-10; 15 minutes or less to I-45 & Hwy 59 • 5 minutes away from Generation Park, Houston’s largest new commercial development. • Close to major retailers and medical facilities
D: 29.16 Acres
• Home to more than 350 single family & luxury multi-family homes.
D: HOUSTON 29.16 AC SEC N. SAM PKWY & BELLOWS FALLS LANE SEC N. SAM HOUSTON PKWY & BELLOWS FALLS LANE E: Pad Available E:Sites 12.84 Acres from 1-12 AC
• No Detention Required
(2014 Est.) Meredith Cullen • 4,271 75,921 Jason Shaw• 196,380
1 Mile Radius: 3 Mile Radius: 5 Mile Radius:
Average HHI:
E
• Excellent visibility
• Located along Nasa Rd 1 and the newly constructed NASA Parkway Bypass in Webster, TX.
Population
D
• No detention required
SIDEN.N.SAM SAM HOUSTON PKWY S.S.SIDE HOUSTON PKWY
Fall Creek, a 2300 acre community which is the only major master-planned golf course community within Beltway 8 (Sam Houston Parkway). Home to The Golf Club of Houston (formerly Redstone Golf mtcullen@cullenrealtygroup.com • 713.444.7979 Club), location of Shell Houston Open.
jshaw@cullenrealtygroup.com • 281.546.9237
Meredith Cullen • mtcullen@cullenrealtygroup.com • 713.444.7979 Jason Shaw• jshaw@cullenrealtygroup.com • 281.546.9237
(2014 Est.) 72,132 77,663 97,396
1 Mile Radius: 3 Mile Radius: 5 Mile Radius:
LEVCOR, INC.
Traffic Counts:
(W NASA RD 1 & HWY 3) Cars per Day:
37,000
Edgewater Master Planned Community | Webs
PHARR TOWN CENTER
Edgewater is the Bay Area’s newest mixed-use, master-planned commu
Pkwy and the newly constructed NASA Pkwy Bypass in Webster, Texa
NOW OPEN
Edgewater is a 530 acre mixed-use redevelopment project that include
of premium commercial real estate.
NOW LEASINGwill PHASE II private canals with a newly dev This waterfront community feature Dan Smith
acres of nature preserves. 713.268-3716
dsmith@levcor.com
Pharr
www.Levcor.com REDNews.com | 29
vs. The Other Guys
• •
Serving the Texas CRE and lending communities for over 20 years • Premier full service environmental consulting firm • Internally staffed with licensed and certified professionals Over 18,000 Phase I ESAs and related environmental services performed The Other Guys
Professional Engineering Firm
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Professional Liability Errors and Omissions Insurance
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engineers.texas.gov
tbpg.state.tx.us
dshs.state.tx.us
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dshs.state.tx.us
tceq.texas.gov
Meeting or exceeding minimum Industry Standard $1,000,000 per occurrence.
*All businesses and individuals consulting on asbestos, mold or lead based paint in Texas are required to have a state license or certification, even just for discussing these potential issues with a client. Licensing ensures that qualified professionals with proper insurance service your environmental needs - IT'S THE LAW.
FACT: Less than 10 Phase I ESA companies serving Texas can even be compared to Phase Engineering, Inc.’s Licenses & Certifications To find out how choosing the right environmental consulting firm can help your transaction be successful, please contact us. Melanie Edmundson, P.G., Principal Mobile 713 826 3342 Melanie@PhaseEngineering.com
Morgan Moliver, Client Services Manager Mobile 817 821 2565 Morgan@PhaseEngineering.com
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C A N C A L E N D A R
A N N O U N C E
W H AT ’ S HAPPENING i n C R E Te x a s
The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to REDNews.com. We update CRE news and events daily!
N E T W O R K
CENTRAL/SOUTH TEXAS
April
2015 Sunday
Monday
Tuesday
Wednesday 1
Thursday
Friday 2
Saturday 3
4
10
11
CTCAR Property Info Exchange 7:30am-9:00am IREM San Antonio Board & Committee Chair Luncheon 11:30am-1:00pm
5
6
7
8
CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 11:30am-8:30pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
IREM Austin Board & Committee Chair Luncheon 11:30am-1:00pm CREW San Antonio CREW Forum The Briscoe Museum 11:00am-2:30pm
12
13
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CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 7:30am-1:00pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
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NAHREP Luncheon 11:30am-1:00pm RECA Policy Meeting 12:00pm-1:00pm
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CREW San Antonio Joint Luncheon by CREW, COREnet & CCIM 11:30am-1:00pm Real Estate Center A&M Texas Land Markets Conference San Antonio 8:30am-2:30pm
RECA April Ideas Forum 11:15am-1:00pm
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Real Estate Center A&M Texas Land Markets Conference San Antonio 8:30am-2:30pm
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CCIM Central Texas Networking Luncheon & Presentation 11:30am-1:00pm
FOR MORE INFORMATION VISIT REDNEWS.COM
NETWORKING CREW-A-Palooza & CREW Austin Awards 1. Cathleen Slack, Cathy Coneway, Amy Joseph, Monika Little, Amy Hurst & Alexis Michael 2. CREW-A-Palooza by CREW Austin featured a panel of speakers from various CREW Texas chapters who provided an overview of their respective CREW chapters
CREW San Antonio Luncheon
1. Carolyn Fletcher, Melinda Roberts & Marilyn Hartman 2. Kevin Spruill, Johnny Atkinson & Dena Welch 3. Helena Hauk, Kim Ghez & Carrie Caesar
RECA Knockout Night 1. Gerardo Castillo, Heidi Cohn, Ashley Kegley-Whitehead, Marc Knight & Jed Buie 2. City Council Members Sheri Gallo & Greg Casar 3. Joey Johnson & Bobak Tehrany
FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/ IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713.661.6300
NORTH TEXAS
April
2015 Sunday
Monday
Tuesday
Wednesday
Thursday
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7 NT CCIM CCIM 102 at Addison Conference Center 8:30am BOMA Fort Worth Monthly Luncheon at Petroleum Club 11:30am-1:00pm CREW Dallas CREW Connect: Networking Lunch 12:00pm-1:00pm
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8 NT CCIM CCIM 102 at Addison Conference Center 8:30am NT CCIM Class Happy Hour 5:30pm-7:00pm IREM Fort Worth Luncheon at Ridglea Country Club 11:30am-1:00pm
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CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 7:30am-1:00pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
BOMA Southwest Southwest Region Conference at Tulsa, OK All Day IREM Dallas Legislative & Leadership Conference All Day
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NT CCIM CCIM 102 at Addison Conference Center 8:30am CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 11:30am-8:30pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
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23 IREM Dallas Building Tour & Happy Hour 4:30pm-7:00pm Real Estate Center A&M Texas Land Markets Conference San Antonio 8:30am-2:30pm
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28 CREW Dallas SMU/CREW Strategic Leadership Communication Certificate 8:30am-12:30pm
Saturday
NT CCIM Luncheon at Park City Club 11:30am-1:00pm
CREW Dallas Meeting - Fair Park 11:30am-1:00pm
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Friday
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Real Estate Center A&M Texas Land Markets Conference San Antonio 8:30am-2:30pm
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BOMA Fort Worth Board of Directors Meeting 12:00pm-1:00pm
FOR MORE INFORMATION VISIT REDNEWS.COM 2014 Sponsorship Packages now available! Is your company looking for exposure and recognition in the commercial real estate industry? SPONSORSHIP OPPORTUNITIES START AT $750.
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commercial real estate women
NETWORKING CREW Dallas Luncheon
1. Coni Hennersdorf, Mary Beth Shapiro & Ann Murray 2. Mary Boone & Trisha Ewert
North Texas CCIM February Luncheon
The Coulter Group March Breakfast
1. Jim Gandy, CCIM smiles with Brad Crumpecker, CCIM and other attendees at the February Luncheon 2. A packed room at the Park City Club for Jim Gandy, CCIM presentation on The Five Billion Dollar Mile 3. Susan McClure, CCIM & Brent Glen with other attendees at the February CCIM Luncheon 1. Rick Santorum (Republican presidential candidate), Emily Parker (Thompson & Knight LLP) & Robbie Briggs (Briggs Freeman Sotheby’s International Realty) 2. Jeremiah Mayfield (Thompson & Knight), David Brock (Bank of Texas) 3. Nelson Spencer & Jim Hazelwood
TREC Dallas Young Guns 2015 Casino Night 1. Heath Cheek & Andrea Cheek 2. Megan Fortune, Liz Stutts, Lindsey Jamar & Ester Cox 3. Sara Vilutis with Phoenix Capital Partners & Amberly Washington with JLL
FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/
SOUTHEAST TEXAS
April
2015 Sunday
Monday
Tuesday
Wednesday
Thursday
1
Friday
Saturday 3
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Houston - RICH Meeting & Trade Show 8:00am-12:00pm
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9 CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 11:30am-8:30pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
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CREW Houston CREW Golf Classic at Wildcat Golf Club 11:30am CREAM April Luncheon 11:00am-1:00pm
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BOMA Southwest Southwest Region Conference at Tulsa, OK All Day
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CREN Marketing Session 7:15am-9:00am
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CREN 2015 Sporting Clays Shoot & Picnic 8:00am-1:00pm
FBSCR Meeting 8:00am-9:00am
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BACREN Monthly Luncheon 10:30am-1:00pm
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10 CCIM Houston, CCIM Louisiana 2015 Energy Conference Lake Charles 7:30am-1:00pm BOMA Southwest Southwest Region Conference at Tulsa, OK All Day CREN April Luncheon 11:00am-1:00pm
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Your real estate de
Count on a CPM速 professio
30
CREN Happy Hour TBD
CPM速 To find a CPM速 in your area, visit www.irem-dallas.org
FOR MORE INFORMATION VISIT Networking
Educat ion
Technology
CCIM Course Scholarships
For o turn
A CP z De z Ple REDNEWS.COM z sta Pro
NETWORKING AAREA Annual Gala
1. Tasha Bannister, AAREA President, Victoria Ma, Event Mistress of Ceremony & Steven Diep, Event Master of Ceremony 2. Daniel Cheung guest of Bri Martinez, REDNews 3. Than Le, AAREA Vice President (second from left) poses for a picture with her guests
ACRP’s Kickoff to Cook Off Happy Hour 1. Bri Martinez, REDNews & Elaine Merianos, The Western Vault 2. ACRP members enjoying a fun networking event 3. Bill Dampier, ACRP Golf Chair, Perry Seeberger, ACRP President & Fred Cook, ACRP Member
CREN March Luncheon 1. CREN Board of Directors posing for a picture with the event’s keynote speaker, Johnny Carrabba, Founder of the Original Carrabba’s 2. Great networking going on at the CREN March Luncheon
CREW Houston March Luncheon & CREW Careers Event
1. 40 CREW Houston volunteers at CREW Careers event 2. Debra Gilbreath, CREW Houston President, Pat Walsh, Dir of Planning, City of Houston, Brian Crimmins, Chief of Staff for the City of Houston Planning & Development Department, and Mary Lou Henry, EVP, Vernon G. Henry & Assoc
FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/
REDNews
Central/South Texas
Jim Young
Nick Nelson
ANNOUNCEMENTS
Nick Nelson and Jim Young have launched a new firm, Longbow Real Estate Group. Both were formerly with KW Commercial in Austin.
Austin/San Antonia Areas
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Austin, TX: (CONSTRUCTION) The Residence Inn by Marriott will be constructed at 7119 E. Ben White Blvd in the
60-acre mixed-use project known as Airport Gateway near Austin-Bergstrom IAH. Two other hotels are expected to be developed at the location.
Georgetown, TX: (CONSTRUCTION) Hines, in collaboration with Georgetown-based Novak Brothers is building The
Sheraton Georgetown Texas Hotel and Conference Center. The four-star hotel will have 222 rooms, a 30,000 SF conference center and a parking garage. The hotel & conference center will anchor The Novak Brothers’ Summit Rivery Park, a 32-acre mixed-use development.
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Comfort, TX: (CONSTRUCTION) New York-based AJW Architectural Products is closing a factory in China and will
be building a manufacturing/warehouse facility in Comfort. The first phase will be a 150,000 SF manufacturing/office warehouse and will employ approximately 120 people.
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purchased 1.39 acres at the corner of Cesar Chavez & Red River street across from the firms’ 1.4 million SF Waller Creek project. Acquisition of the site provides an additional 607,640 SF of buildable footage to their project. Bulverde, TX: (SALE) Lennar Homes purchased 780 acres known as 4S Ranch between Smithson Valley Rd, FM 1863 & Stahl Lane. The seller, a group of local investors known as Stahl Lane, Ltd. and 633-4S Ranch Ltd. was represented by Kurt VanderMeulen and Joyce Jane Weedman of REOC Austin.
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Austin, TX: (CONSTRUCTION) Transwestern Development Company has begun construction on a 445,952 SF mixed-use
project at 1621 & 1645 E.6th Street that includes a 346-unit apartment project, 94,500 SF office and 9600 SF retail. Josh Delk with Transwestern is heading up the development team.
Pflugerville, TX: (CONSTRUCTION) Star Stream Capital and B.C. Ziegler & Company, jointly operating as Pflugerville
Crossing LP are building Sunshine Village Town Center and
38 | REDNews.com
Sun Tech Office Park on 119 acres on the east and west side of SH 130, south of the FM 685 intersection. The development calls for multiple hotels, 22 restaurants and +/-413,000 SF retail.
M U L T I - F A M I L Y
San Marcos/San Antonio, TX: (MANAGEMENT) Tarantino Properties has been awarded the management
of three new Class A properties totaling 1061 units in San Marcos and San Antonio. The projects include The
Elysian at Purgatory Creek, The Elysian at Arden Park
and The Elysian at Nobu Station.
Austin, TX: (SALE) Charleston , SC-based Greystar & Washington, D.C.’s The Carlyle Group sold Elan East, a 251-unit project located at 2900 Manor Rd. Patton Jones of ARA represented the seller. Austin, TX: (SALE) Platinum Southside, a 195-unit apartment complex located off East Stassney Lane sold to private equity firm Front Range Capital Partners LLC by Clarion Partners. The sale was managed by Atlantabased ARA.
O F F I C E / M E D I C A L
Austin, TX: (SALE) Harrod Healthcare Development
sold Southwest Medical Village, a 70,000 SF medical office at 5625 Eiger Road. EverWest Real Estate Partners LLC represented the buyer and Gary Carr, Eric Mackey, John Alvadado and Robert Hill with CBRE represented the seller.
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Austin, TX: (SALE) Dallas-based The Rainer Cos and Birmingham, Ala-based Harbert Management Corp
have purchased the Southpark Meadows III, a 257,988 sf regional power center located on I35. CBRE Capital Markets’ National Retail Investment Group and Michael Maffia of Newmark Grubb Knight Frank (NGKF) announced the sale on behalf of Endeavor Real Estate Group.
Cedar Park, TX: (SALE) Retail Properties of America, a national REIT, purchased Cedar Park Town Center, a 181,000 SF center located at 4601 US Hwy 183A & Discovery Blvd. from The Ainbinder Company for $39.1 million.
For more deals go to: www.REDNews.com/category/deals-and-announcements/
North Texas
Colliers International North Texas announced that Pamela Robison Mullins has joined the Rudd-Vahrenkamp tenant advisory team as a VP. Pamela was formerly with Cresa Dallas.
Dallas/Ft. Worth Areas
John Leinbaugh
ANNOUNCEMENTS
Todd Moore
Pamela Robison Mullins
REDNews
Hart Advisors Group LLC has hired Todd Moore as its new chief operations office (COO). Todd was formerly the managing director of Presidium Asset Solutions.
NAI Robert Lynn Industrial Division hired industry veteran John Leinbaugh as a managing party of industrial leasing. John spent 20 years working with Industrial Developments International (IDI) before joining NAI Robert Lynn.
DEALS
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Dallas, TX: (CONSTRUCTION) Duncanville-based Pioneer Frozen Foods plans to build a new $10 million food production
facility at a former 132,000 SF Dallas Morning New building located on 50 acres at 4616 Langdon Road. Flower Mound, TX: (CONSTRUCTION) Denver-based Huntington Industrial Partners has begun construction of a
349,580 SF DFW Airport North Distribution Center II located on Lakeside Parkway. It is scheduled for completion in August.
Moorfield Real Estate Fund (MREF) and Moorfield Real Estate Fund II (MREFII) to purchase a $1.5 billion (1
million pound) diversified real estate investment portfolio. Asset details are to be announced at a later time.
M U L T I - F A M I L Y Denton, TX: (SALE) Kingswood Circle LLC has purchased
Flower Mound, TX: (CONSTRUCTION) EastGroup Properties
Kingswood Apartments, a class B 200-unit complex in Denton. The partnership of Mike Wells and Robert Aiello of Wells Asset Management acquired the asset from an out-of-state owner for $10 million.
Irving, TX: (LEASE) Curt Manufacturing signed a 142,500
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has begun construction on Parkview Commerce Center, a three-building, 276,000 SF industrial complex. It is located at the SEC of Spinks & Gerault Roads.
SF lease at 2611 Regent Blvd in International Commerce Park. The Lee & Associates team of Tom Walrich and Reed Parker represented the tenant and Stephen Koldyke of CBRE and Prolgis in-house rep, Mitch Pruitt represented the landlord. Plano, TX: (LEASE) Plano-based Altair Global, a relocation
management company, has expanded its worldwide headquarters with an additional lease of 13,960 SF at 7800 N. Dallas Parkway. Tom Lynn and Dan Jardine III of NAI Robert Lynn represented Altair Global.
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plans to build a 160,733 SF, seven story office project located north of SH 114. Granite’s David Cunningham said the company hopes to start construction this fall and deliver in October 2016. Dallas, TX: (LEASE) Master Halco is leasing 20,978 SF which is a full floor at the Graystone Centre from Younan Properties, the building owner.
Dallas, TX: (SALE) Kruse Farms LP sold a 101,939 SF netleased warehouse in Brookhollow Industrial Park to Caddo Industrial Fund I. The building is located at 1011 Regal
Plano, TX: (SALE) Franklin Street Properties Corp, a REIT located in Wakefield, MA, sold Willow Bend Office Center I, a 117,050 SF building located at 2740 Dallas Parkway for $20.75 million. Matthew Otte, Mike Hardage and Wilson Vick of Transwestern Dallas represented the seller and James Leslie and Joe Jernigan of Wolverine Interests represented the buyer.
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Richardson, TX: (SALE) Gladstone Commercial Corp
Row and is the headquarters for Guard-All Building Solutions. Coldwell Banker Commercial Alliance DFW represented the seller.
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Dallas, TX: (SALE) Dallas based Lone Star Real Estate Fund III has entered into an off-market agreement with U.K.-based
purchased 250 East Arapaho, a two-story, 155,984 SF single tenant building from Peloton Capital Partners LLC. CBRE represented the seller
For more deals go to: www.REDNews.com/category/deals-and-announcements/
REDNews.com | 39
Linda Larabee, CCIM, RPA was awarded 2014 Professional Woman of the Year by the National Association of Professional Women (NAPW), which is an organization of over 600,000 members. Linda is VP of Asset Management of TriStone Realty Management, LLC.
Houston Area
William “Bill” Pederson
Richard J. Vitale
Southeast Texas
Linda Larabee
ANNOUNCEMENTS
Kenton McKeehan
REDNews
Hines Managing Director, Kenton McKeehan, has been tapped to lead Hines new Retail Resources Group which will be responsible for retail development, acquisition and redevelopment.
Richard J. Vitale, CFA joined Hartman Income REIT Management (HIRM) as executive vice president of product distribution and president of Hartman Advisors LLC. Vitale formerly served as president of United Realty Advisors.
Award-winning real estate industry veteran William “Bill” Pederson has been named the new executive director of the Graduate Real Estate Program at the C.T. Bauer College of Business at the University of Houston. Bill was formerly with WEDGE Commercial Properties and replaced John Walsh.
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Baytown, TX: (CONSTRUCTION) Cedar Port Industrial Park, which was purchased by Beaumont-based Trans-Global Solutions Inc last December , will soon undergo $22 million
in infrastructure improvements which will allow nearly 11,000 acres of development along the Houston Ship Channel. Improvements and add two 9,000-foot interchange railroad tracks. This will open more than 4000 acres for development. NAI Partners is marketing the property. Houston, TX: (SALE) A subsidiary of United Equities has sold a
45,840 SF industrial park located at the corner of Vickery Drive & Aldine Bender. Travis Land of NAI Partners represented the Seller and Brian Ellisor of Red Oak Commercial represented the buyer. Houston,TX: (SALE) Rutco Agency Inc dba Wholesale Electric purchased a 100,970 SF building at 6201 South Loop East from 6201 South Loop, LLC. The buyer was represented by Eric Bunting with The National Realty Group and the seller was represented by Bill Rudolf & Gray Gilbert with CBRE Houston.
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Hockley, TX: (SALE) Wallace G. Wilson Exempt Family Trust sold 39.161 acres on the north side of A.J. Foyt Road just north of FM 2920 to an undisclosed buyer. Tom Condon, Jr., of Colliers International Woodlands office represented
the seller.
Rosenberg, TX: (SALE) Ryan Sweeney with NewQuest Properties represented the seller in selling 22.14 acres and
19.26 acres to DR Horton at Town Center Blvd. The buyer was represented by Dave Ramsey with NewQuest Properties.
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Houston, TX: (CONSTRUCTION) Houston-based Pelican Builders Inc along with its equity partner, an affiliate of The Carlyle Group, will be breaking ground in May for The
Wilshire which will be a 17-sotry luxury condominium tower at 2049 Westcreek Lane, the site of the former Westcreek apartment complex.
Houston, TX: (CONSTRUCTION) Trammell Crow Residential
has begun construction for Alexan Ashford, a five-story, 312unit project to be located at 1200 Dairy Ashford Road. The location is the site of the former Cornelius Nursery.
Houston/Tomball, TX: (SALE) Atlanta-based Preferred Apartment Communities Inc, a REIT, purchased the Avenues
at Northpointe in Tomball and the Avenues at Cypress, next to
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Houston Premium Outlets. Combined, the communities total 520 units.
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33,500 SF at 4444 Westheimer which is a 5-story office building currently under construction in River Oaks District. Paul Wittorf, Louann Pereira and Eric Anderson of Transwestern represented the landlord and Lou Cushman and Courtney Walker of Cushman & Wakefield represented the tenant. Houston, TX: (SALE) NAI Partners negotiated the sale of 2610 W. Sam Houston Park, a 24,300 SF building. The building was purchased by a local law firm. Doug Pack and Sam Hansen with NAI Partners negotiated the sale on behalf of the seller. Houston, TX: (SALE) Griffin Capital Corp, a California-
based private REIT is buying The Westgate 2 & 3 which is located at 17320 Katy Freeway and 17325 Park Row Road and includes 412,000 SF. HFF is managing the transaction for the owners Transwestern and Denver-based investor & fund manager Miller Global Properties. Houston, TX: (SALE) In January Chicago-based LaSalle Investment Management backed out of purchasing 1000 Main for $540 million and Seattle-based Metzler Real Estate is buying the building from Dallas-based Invesco Real Estate for $435 million.
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Conroe, TX: (LEASE) The J Beard Real Estate Company,
LP executed a 7000 SF long-term lease for Woodlands Fabrics & Interiors at River Bend Station. The tenant was represented by Lindsey McKean of The J. Beard Company and the landlord was represented by Jared Dubin with Interra Properties.
Katy, TX: (LEASE) Chick-fil-A leased a 65,000 SF tract at Katy Freeway & Greenhouse Road. The landlord is a partnership affiliated with Wile Interests Inc. The tenant was represented by Jeff Mallet with Jeff Mallett Company and the landlord was represented by Anderson Smith of Capital Retail. Webster, TX: (SALE) Cushman & Wakefield handled the
sale of the 236,854 SF regional power center, Baybrook Gateway, located in Webster, Texas. The seller was represented by Tom Salanty, Chris Harden and Kris Von Hohn of Cushman & Wakefield.
For more deals go to: www.REDNews.com/category/deals-and-announcements/
REDNews
CLASSIFIEDS Protecting Property Owner’s Rights
6.74 Acres - Commercial
www.ShowalterLaw.com
281-341-5577 • Info@ShowalterLaw.com
5.94 Acres
Aldis St.
• All Utilities • Right for strip center or restaurant.
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Compensation for Roads • Pipelines • Power Lines
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Beltway 8
Mabry’s Charter Oak Realty Philip P. Mabry: 713.253.0639 philipmabry@yahoo.com
281-205-7956 Moverg.com
ADVERTISER INDEX 4 Star Development & Brokerage A. A. Realty Company ACRP BACREN Bearden Development Inc. C.R.E.A.M. CBRE CCIM Central Texas CCIM Houston CCIM North Texas City of La Porte EDC Clay & Company Colliers International CREN CREW Dallas CREW Houston CREW San Antonio CTCAR Cullen Realty Group First American Greenberg & Co.
27 43 36 36 24 36 1, 2 32 36 34 21 17 7 36 34 19 32 19, 32 29 1, 5 19
Hankamer Commercial Brokers, LLC ICSC -Las Vegas IREM Austin IREM Houston LANDMAN TEXAS LANDTX, Inc. Levcor, Inc. Mabry’s Charter Oak Realty MOVE Resources Phase Engineering, Inc. R. S. Hart Commercial Brokerage, L.L.P. Real Estate Center Land Conference RECA Showalter Law Siterra Properties Stream Realty Partners Tarantino Properties, Inc. Texas Commercial Properties, Inc. The J. Beard Real Estate Company, L.P. The Western Vault TIG Real Estate Services Wolff Companies
10 42 32 36 27 11 29 41 41 30 13 44 32 42 24 1, 3, 17 8, 9 25 15 10 19, 27 22, 23 REDNews.com | 41
FOR LEASE
OFFICE/RETAIL SPACE 1. Woodland Park Shopping Center 11380 Westheimer, Houston 77077
h
• Shopping center size - 75,620 SF - Built in 1985 • Retail space available (1st floor) - 1,600 SF - 4,000 SF - $13.00/SF + NNN • Aggressive lease terms • Pylon signage available • Traffic counts - 82,880 CPD (Westheimer) • +/- 592’ of frontage on Westheimer • 372 surface parking spaces available
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2. Kaleidoscope
10612-10692 Westheimer, Houston, TX
• 2 blocks west of Beltway 8 • 2,952 SF - 2nd floor • Excellent for retail, office or professional use
3. Park West Plaza
8989 Westheimer, Houston 77063
• 20,000+ SF Available • Up to 6,000+ SF Contiguous Space • Aggressive lease terms - $13.00/SF Gross • Generous surface parking at no charge for open, non-reserved spaces • Card-key controlled access • Pylon signange available • On-site management • Parking ratio - 3.4/1000
Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108
A A Realty Co
eleung8888@aol.com
www.aarealtytx.com A A Realty Co
Accredited Management Organization
Accredited Management Organization
1
2
Beltway 8 West
For more information
3 Westheimer Rd
y
a Westpark Tollw
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