REDNews - July 2018 by RE Journals

JULY 2018

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Inside:

Reflecting on RECon: Retail’s Biggest Week 16th St & Shepherd Dr, Houston TX 77008

Sights Set on Seabrook: More Lanes, More Opportunities “Natural Drainage” Enhancing Real Estate Development Projects

DELIVERING SUMMER 2019 Located in the eclectic Heights neighborhood Facing Shepherd Drive, which has transformed into a corridor for unique chef driven concepts and high end restaurants

75,000 square feet of land with abundant surface parking Exceptional access from both Shepherd Drive and W 16th Street

HUFSMITH KOHRVILLE

±4.86 ACRES Completely Cleared, Ready for Development 249

No Restrictions

TEXAS

Price: $995,000

PRICE REDUCED

SEC FM 2218 & Town Center Blvd. ±4.88 ACRES Easy access to US 59 and FM 762 Utilities through MUD 167Brazos Town Center, and off site detention Price: $7.50 PSF

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: +1 346 444 8961 matt.davis@berkadia.com

ELDRIDGE PARKWAY

No Restrictions

±2.14 ACRES ± 420’ of frontage along Eldridge across from a median cut One of the last remaining tracts of land on Eldridge Parkway

TWO TRACTS

Ft. Bend Toll Rd. & McHard Rd.

Tract 1: ± 7.25 acres of the NWC of Ft. Bend Toll Rd. and McHard Rd. Tract 2: ± 11 acres at the NEC of Ft. Bend Toll Rd. and McHard Rd. Price: $9.75 PSF

IN THIS ISSUE

16 20

Market

Sales & Leases 1-3, 5, 7-9, 11, 17-19, 22, 23, 25-27

Services

Environmental Services 30, 43 Legal Services 15 Photography 18 Real Estate Loans 15, 44

Scoop

Events 18, 32, 34, 36 Social 33, 35, 37 Bulletin 38-40

Features

Using a Natural Drainage Approach 10, 12 Sights Set on Seabrook 14-15 Reflecting on RECon 20-21, 24 CIVIL FAIR PLAY New Ruling on Short-Term Rentals 28 - 29 RAY'S BUZZ CCIM Luncheon - Chris Brown 16

JUNE 2018

Shops Shops at at Conroe Conroe Plaza Plaza NWQ NWQ of ofHwy Hwy105 105&&Loop Loop336 336 Conroe, Conroe,Texas Texas Contact: Contact: Jacob Jacob Weersing Weersing

Shops Shopsat at Lake LakeAir AirVillage Village 1124 1124Lake LakeAir AirDrive, Drive, Waco, Waco,Texas Texas76710 76710

Shops Shops at at Conroe ConroePlaza Plaza NWQ NWQofofHwy Hwy105 105& &Loop Loop336 336| Conroe, | Conroe,Texas Texas

Contacts: Contacts: Matt MattMorrison Morrison Jacob JacobWeersing Weersing &&Eric EricWalker Walker

281-816-6550 281-816-6550| |www.capitalretailproperties.com www.capitalretailproperties.com

Barker Barker Commons Commons Shopping Shopping Center Center SEC SEC of ofBarker BarkerCypress CypressRd Rd&& Cypress CypressN NHouston HoustonBlvd Blvd Cypress, Cypress,Texas Texas Contacts: Contacts: Matt Matt Morrison Morrison && Geoff Geoff Bracken Bracken

COMMERCIAL COMMERCIAL DEVELOPMENT DEVELOPMENT 111111 Travis Travis Street, Street, Houston Houston Texas Texas 77002 77002

BARKERBARKER CYPRESS CYPRESS RD @ BARKER RD @ BARKER TRACE DR TRACE DR CYPRESS, CYPRESS, TX TX DECEMBER DECEMBER 18, 201718, 2017

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITERS

Dear Readers,

This month Brandi spoke with some of the Las Vegas RECon attendees to get a temperature reading on the retail market and it appears to be somewhat blue skies ahead for that market. The savvy retailer’s approach is to embrace technology/ecommerce; feed them and they will come. STRIVE’s Jennifer Pierson describes it as a “fun wave if you’re not afraid of it”. (pages 20, 21, 24)

In this first month of hurricane season it’s apropos that Michael Bloom, P.E. with R. G. Miller Company shared with us a natural drainage approach that is being utilized to enhance real estate development projects. Read about some of the developments that have utilized this process on pages 10 – 12.

Travis Huehlefeld, an attorney with Wilson Cribbs + Goren, tells us about a recent ruling on short-term rentals & City of Seabrook’s Paul Chavez gives us an update about the SH 146 expansion project. Next month we will continue to focus on Retail & Land and will be at RetailLive! in Austin on August 30th which is always a fun, lively and productive event. Come join us and wear your boots! Have a fabulous July 4th! Best Regards,

Janis Arnold janisarnold1@gmail.com Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDNews.com

CONTRIBUTING WRITERS

Travis Huehlefeld thuehlefeld@wcglaw.com

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!

Ginger Wheless

To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 2537 S. Gessner, Ste. 126 Houston, TX 77063

NEED TO TRACT DOWN GREAT SITES? GIVE CALDWELL A CALL.

61.08 Acres For Sale off US-59 N • • • •

1,259’ of frontage along US-59 3 miles from the Grand Parkway Outside the flood plain 57,868 VPD

18.85 Acres For Sale I-45 N • • • •

1,200’ of frontage on the I-45 feeder road 18 miles north of the new Exxon Campus Tx Dot approved curb cuts Divisible

113 Acres For Sale off of I-45 North of 3083 • • • •

1,900’ frontage on south bound I-45 feeder Great visibility Outside flood plain Unrestricted land

Contact: Keith Edwards, CCIM, SIOR

Contact: Mark Terpstra

Contact: Keith Edwards, CCIM, SIOR

Boardwalk - Towne Lake

4170 W Green Rd - North Houston

Cypress Crossing - Hwy 290 & FM 1960

• • • •

Waterfront retail/restaurant & office space 3 mile population 99,925 3 mile average household income $105,517 Next phase under construction

Contact: Mary Caldwell, CCIM, SIOR

HOUSTON

• • • •

Quick access to SH 249 & I-45 One block off Beltway 8 16,800 SF building situated on 12 acres Can be utilized as a gymnasium

• • •

Phase 1 retail available for established retail and restaurant concepts Kelsey Seybold 75,000 SF breaking ground Q3 2018 Hotel breaking ground Q2 2018

Contact: Keith Grothaus, CCIM, SIOR

Contact: Mary Caldwell, CCIM, SIOR

THE WOODLANDS

COLLEGE STATION

CaldwellCos.com

713.690.0000

Your Grocery Store Belongs

OLD SEABROOK DISTRICT

CLEAR LAKE

WATER DIST

POPULATION

78,172

2018 Estimated Primary Retail Trade Area Population

HOUSEHOLD INCOME

$121,362 $90,557 $47,730 Average Household Income

Median Household Income

Per Capita Income

North Planning Area › 90 +/- acres of prime site adjacent to the Bayport Container Terminal

s in Seabrook

OLD EABROOK DISTRICT

›

SCHEDULE a meeting

TODAY

and Residential

Old Seabrook District

› Beautiful and Historic Main Street Area CLEAR lots LAKE › Mixed commercial and residential Economic Development Director

call PAUL CHAVEZ

GALVESTON BAY

Waterfront District

281-291-5730

› › Prime for dining andpchavez@seabrooktx.gov entertainment use

WATERFRONT DISTRICT

PRIMARY RETAIL TRADE AREA

DISTANCE

30 minutes to HOUSTON

HIGHER EDUCATION

12.9%

Graduate Degree or Professional

OLD SEABRO DISTR

25.6% 10.2% Bachelor’s Degree

Associate’s Degree

23.8%

Some College No Degree

Using a “Natural Drainage” Approach to Enhance Real Estate Development Projects BY MICHAEL F. BLOOM, P.E. R.G. MILLER ENGINEERS, INC.

Suburban developments are typically disconnected from their nearby streams in favor of locating homes and businesses around the detention basins, which are often designed with permanent pools of water and are viewed as manicured “lakes” by future residents. Urban developments typically place stormwater systems underground – out of sight and out of mind. There is an alternative, however: natural drainage systems – also known as “low impact development (LID)” or “green stormwater infrastructure (GSI).” Natural drainage systems are beneficial to property development in a number of ways.

Natural drainage systems simulate natural headwater streams and bayous, more closely mimicking the natural flow of water across the landscape. Natural Drainage Facilities Serving Stonebrook Estates. Copyright R. G. Miller Engineers

Houston area real estate developers have traditionally used concrete parking areas, concrete streets, and pre-cast concrete storm sewer systems to convey rain water quickly and efficiently to “end-of-pipe” detention basins or underground cisterns. From there, the collected rainwater is discharged into nearby streams or bayous or the public storm sewer system at a restricted rate to avoid downstream flooding from storms smaller than the design storm. 10

JULY 2018

In suburban settings natural drainage systems can extend the existing bayou and stream corridors up into the development, serving as natural open-space, creek or bayou-style amenities that support adjacent trails and parkland. In urban settings stormwater management systems can be integrated into the landscape design, thus providing an attractive, park-like amenity and a green respite from the hard and grey features of much of the urban environment.

Natural drainage systems cause water to move more slowly, allowing some to be absorbed by plants, some to infiltrate into the soil, and some to evaporate into the air. Because the water runs off the site more slowly, these systems can be constructed with a smaller volume of detention. This can allow suburban developments to build smaller detention ponds and thus accommodate a higher number of homes or commercial buildings. In urban environments the use of natural drainage systems can reduce the volume of underground detention vaults, which can reduce development cost. Continued on Page 12 >

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6/12/2018 1:50:54 PM

DEVELOPMENT ACREAGE HIGH GROWTH FORT BEND COUNTY

2 3

1) 3 acres on FM 762 3) 1.2 acres - Build to suit 5) Premium custom home between George Ranch / ground lease pad site: lots in Lakes of Mission and Brazos Bend State US 59 @ Reading RD., Grove, Fort Bend Park. Fort Bend County: Brazos Town Center County: 1 acre; low taxes $199,990 4) 38 acres on FM 2759 2) Development opportunear Grand Parkway and nity in Fort Bend, Pecan FM 762 in Fort Bend Grove area: 1.75 acres County. $1,700,000 on FM 359/ Mason RD. $715,000

Seth Showalter 713-269-4908 seth@firstwarrantyrealty.com

PRIME RETAIL IN EXCELLENT LOCATION!

Property is located next to I-10 and shadow anchored by Katy Mills Mall. Located in an up and coming area with National Credit Tenants just minutes from this property.

Excellent I-10 Frontage

Katy Mills Mall

• 1,020 - 20,000 SF • End Caps Available with Potential Drive-Thru • $20 - $50/SF Tenant Improvement • 88.8% Population Growth Since 2000 • Newly Constructed Building

Joe Rothchild 713-857-0567

rothchil@yahoo.com

MICHAEL F. BLOOM, P.E. SUSTAINABILITY PRACTICE MANAGER

< Continued from Page 10

Natural drainage systems are a marketing differentiator for developments. They capitalize on the market demand for natural and environmentally friendly neighborhoods. They can serve as a framework for trail systems, which are ranked among the highest in consumer-requested amenities. They can provide a polished and manicured look along entryways and community front doors, while maintaining a wild and rustic look along paths and leading away from back doors.

Finally, natural drainage systems serve a drainage utility function under the Texas Water Code. This means that suburban developers can be reimbursed for the cost of their construction with the proceeds from the sale of special district tax free municipal bonds. Let’s look at a few examples. Audubon Grove, a large-lot, single family residential subdivision in Springwoods Village near the new Exxon-Mobil, campus features 57 lots on about 24 acres. Designed by Costello, Inc. for Taylor Morrison, the development includes trail systems along natural swales. The concrete roadways do not include curbs so that stormwater runoff can drain directly into the swales. Front yard swales have been landscaped with cobbles to create a more refined and polished look. Camellia is another single-family subdivision that has used natural drainage systems. Camellia is located in Fort Bend County and includes 323 lots on about 50 acres. Designed by EHRA for Legend Homes, the development includes roads with cross slopes down to depressed vegetated center

medians. The outside edge of the roads include traditional curbs while the inside edge is curbless to allow for sheet flow into a natural raingarden system. The use of natural drainage systems in Camellia reduced overall project infrastructure costs by $1.6 million, increased lot yield by 99 homes, and reduced the volume of detention required to comply with floodplain regulations. [Ring, J. 2015. Talking Dollars and Sense: LID Construction Costs. Presented at the ASCE International LID Conference. Houston, Texas. January.] Stonebrook Estates, in the Champions/Spring area, was designed by R. G. Miller Engineers, Inc. and Aguirre & Fields for Terra Visions, LLC. The development includes 135 lots on about 51 acres. About 70% of the development is served by a natural drainage system with landscaped and manicured ditches (called “swales”) and biofiltration, which is basically a high flow rate sand filter for stormwater that removes pollutants. The rest of the development is served by traditional storm sewer. Roadways are sloped to one side and have curbs but feature “false back inlets” that drain stormwater to vegetated swales instead of expensive underground storm sewer pipes. The use of natural drainage reduced the site detention requirement by 24%, which increased lot yield. In 2017, this project received the West Houston Association’s Sustainability Stars Award because of its use of natural drainage features. One example of the use of natural drainage systems in an urban setting is the Bagby Street Reconstruction Project in Midtown Houston, designed by Walter P. Moore and Associates with Design Workshop. The project includes a rain

garden to attenuate rainwater runoff along its ten block project length. The project achieved a Silver certification under the Greenroads Rating System® for sustainable transportation infrastructure. The business case for natural drainage in the Houston area is clear. Natural drainage: • Reduces the volume of detention required to comply with floodplain regulations and often increases developable area;

• R educes the cost of drainage infrastructure in most cases;

• A llows reimbursement for the cost of

drainage facilities if constructed in a utility district;

• I n suburban settings, provides open space

and a natural amenity to more of the homes in the development, allowing the developer to charge a premium on those lots;

• I n urban settings, can be integrated into the landscape design and provide an attractive and park-like amenity;

• C apitalizes on the market demand for envi-

ronmentally friendly and natural communities; and,

• D ifferentiates the development from all the rest.

For more information about Houston-area natural drainage projects, check out the Houston-Galveston Area Council’s Designing for Impact: A Regional Guide to Low Impact Development.

GReenberg & Company Commercial Real Estate Brokerage Firm

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Building Size: 4,144 SF | Lot Size: 0.2 Acres Space Available: 2,175 SF

Price: Call For Details

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Jones Crossing

Future Development

1800 Wellborn Road College Station, TX 77845

Property Highlights • New 106,000 SF H-E-B opening September 2018

Har vey Mi

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28 18 /

• Restaurant spaces include outdoor patios & common green areas with amphitheater

• Multiple pad sites available • Located in rapidly expanding south College Station Balcones Drive

For More Information, Please Contact: Cyndee Smith

Sr. Vice President Retail & Land Services C: 713.816.3407

Jeremy Richmond Managing Director Land Services O: 979.268.2000

1 Mile

Wellborn Road : 42,442 VPD

2800 S Texas Avenue, Ste. 401, Bryan, TX 77802 OldhamGoodwin.com

RFRONT TRICT

› Retail and dining pad sites › Seeking grocery anchor GALVESTON BAY

› Sights Set on Seabrook: The Commons

Borders a new 416 unit luxury apartment complex › 30,000 square feet of retail space

SH 146 construction promises North Planning Area more lanes, more opportunities › 90 +/- acres of prime site adjacent to the BY BRANDI SMITH

›

PAUL CHAVEZ

SEABROOK ECONOMIC DEVELOPMENT DIRECTOR

Bayport Container Terminal

and Residential

“There’s going to be a lot more greenery because we built that in to the design for the Old Seabrook District corridor along 146 once it expands,” says Chavez.

For about 20 years, an air of uncertainty hung over the future of Seabrook. Everyone knew TxDOT was bound to make changes to State Highway 146, but no one could say what it would look like when all was said and done.

› Beautiful and Historic Street Area Since the plans Main were finalized, he says the price of real estate in Seabrook is starting to creep up. Along with it, those companies that had been nervous about investing are reaching out toand see what kind of opportunities exist along the improved highway. › Mixed commercial residential lots

“The idea was to alleviate traffic congestion and ultimately link it to the Grand Parkway. That was its ultimate goal,” explains Paul Chavez, the city’s director of economic developGALVESTON BAY stifled a lot of new developments in our community.” ment. “But that uncertainty

“Now that we have clarity about the project, things are starting to happen. Brokers,

Waterfront District developers and consultants are taking a much more positive look at this community and

He says investors were hesitant to pour money into a project without knowing when construction would begin and what it would look like.

this commercial corridor overall,” Chavez says. “A lot of developers have said, ‘This is an area we want to be in. We like the waterfront lifestyle. We think there’s a lot of potential here based on traffic patterns, economies, household incomes, and so on.’ The school district is also continuing to grow, so they see that there are opportunities, not to mention the big pieces of available land.”

› › Prime for dining and entertainment use

“They need to know with confidence that what they’re buying and putting into place will still be there and will grow,” Chavez says. Any proposed changes to SH 146 were usurped by other construction for a couple of decades, but when Hurricane Ike hit, the devastating storm and the evacuation it prompted highlighted that an expansion was overdue.

The highway is a vital alternative route for people rushing to get out of Galveston and Galveston County in the case of an emergency. In October 2016, TxDOT, in partnership with the Federal Highway Administration, revealed its plans for the roadway, which includes widening from six lanes to 12. But the project involves more than just pavement.

The city has a kind of wish list as far as which companies seize on those opportunities. First priority: more grocery options. “We love our Kroger, which has been here for a long time. It’s been a great community partner. We’re hoping that Kroger will expand on its footprint and upgrade what it has here,” says Chavez, but we’d also love to see another grocery store come in.” He points to more specialized stores, such as a Central Market, Whole Foods or Earth Fare for consumers who want healthier alternatives. Lunch, Chavez says, is another challenge. The city is looking for restaurants, specifically smaller chains, to bring quality fast food to Seabrook. He points to the newly opened Hubcap Grill as an example. 14

JULY 2018

REAL ESTATE

PRIVATE LOANS

Protecting Property Owner’s Rights

Eminent Domain Equity Secured Capital Compensation for Roads • Pipelines • Power Lines

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281-341-5577 • Info@ShowalterLaw.com “Those kinds of businesses, that caliber of a business, will thrive in Seabrook because people who come here from out of town want something different. They want what the locals want,” he says, offering up another example: Seabrook Waffle Company. ‘They only have one location. Their specialty is Belgian-style waffles and that place is packed on a regular basis. When they first landed here, I thought, ‘Wow, they have to sell a whole lot of waffles to make it.’ But, you know, it’s darn good. They took off like wildfire. That’s amazing.”

Protecting Property Owner’s Rights

As much potential as Chavez knows the city has, he’s watched it come a long way in his seven years as the city’s economic development director.

Eminent Domain

“I’ve gone from being simply an economic development professional to an economic development professional and a business therapist, if you will,” he laughs. “A lot of the local businesses will call and say, ‘Paul, what am I going to do? Help me. Talk me through this, man.’ I have long conversations with our business community and even residents who are seeking affirmation.” Another evolution has been Chavez’s outlook for Old Seabrook, which is far enough off the grid that he initially worried visitors wouldn’t make the effort to explore it. “People do! It’s really interesting to see that start to come to maturity now. Prospects are very interested in the quaint charm and waterfront views that Old Seabrook has to offer,” he says, adding that NASA Parkway is also starting to see some new developments.

Compensation for: • Roads Now Chavez has his sights set on two to three years from now as construction along SH begins to wrap up. • 146Pipelines • Power “That’s when investorsLines are going to start making their plays on a property acquisition and development,” he says. “So we’re going to see a lot more things ramping up. Developments will start to go vertical and get populated fairly quickly.”

www.ShowalterLaw.com It’s a satisfying prospect for a community that’s pushed through the uncertainty, now confident in a bright future as the highway starts expanding. 281-341-5577 Info@ShowalterLaw.com

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Protecting Property Owner’s Rights

EMINENT DOMAIN Compensation for: • Roads • Pipelines • Power Lines www.ShowalterLaw.com 281-341-5577 Info@ShowalterLaw.com

ray’s buzz BY RAY HANKAMER rhankamer@gmail.com

CCIM LUNCHEON - SPEAKER CHRIS BROWN, CITY OF HOUSTON CONTROLLER

Chris Brown was quick to explain that he came from a real estate oriented family, and that an MBA, a stint with an investment banking firm, and six years as Deputy City Controller gave him not only experience for his job as Chief Financial Officer for the City, but experience to speak to a large room full of commercial realSITE estate AVAI people. Brown focused on several topics: 401 Laurel Stree CHRIS BROWN

Taxes: • The revenue cap passed by voters a few years ago leaves the City ‘handcuffed’ when it comes to funding the services needed by our burgeoning growth • Additional / alternative taxes under consideration include CBD congestion tax; tax on short term residential rentals, aka VRBO and AirBNB; encouraging greater density of development, concentrating more taxable assets on smaller tracts; commuter tax on those who live outside Houston but who commute in and use City services; and others • Taxes for still unfunded City personnel obligations going forward, now that pension reform has been accomplished • City policies encourage developers to build ‘up’ and not ‘out’ -high rise instead of low rise – further intensifying taxable base on finite land inside City limits • There is $586 million of deferred maintenance on City buildings which has to be paid for-we have been ‘kicking the can down the road’ and falsely claiming our City budget has been balanced

Inside the Loop / the CBD: • City tax base is hurt when giant corporations abandon the CBD for the suburbs (ExxonMobil to The Woodlands, as an example); every city needs a vibrant core and our City government offers incentives to concentrate ‘cool’ things in our CBD • We need to have a new Plan for our City to address the fact that we will grow from 2.3 million to 3.5 million within the City limits in the next 30 years, not to mention huge growth in surrounding suburban towns which will come into City and expect to use services funded by City taxes

JULY 2018

• C ity is analyzing why we lost Amazon HQ competition and did not even make it into top 20…Reason: ‘lacking a base of tech talent’ … Solutions: implementing Tech Corridor from CBD to Medical Center including old Sears Building on Main at Blodgett, and encouraging local educational institutions to add more tech curricula

• C ity has partnered with Microsoft and is seeking new relationships with high-tech companies • P rovide affordable housing in the City core, in spite of soaring land costs – a challenge when average single family home cost in City is closing in on $300,000

Hurricane Harvey: • We need $25 billion to fund all the solutions to prevent flooding from a future large storm-this funding will come in dribs and drabs from different ‘buckets’- City, County, State, Federal, bonds, etc. It will take a lot of work to prioritize correctly and to fund this master plan • Harvey dumped 51” of water – over four feet!- in 48 hours

Miscellaneous: • City is 46% dependent on oil and gas now as opposed to 80% in the ‘80s • 25% of our population is under 25 and it is very diverse • If Houston’s economy was a country we would have the 24th strongest economy, after Sweden but ahead of Poland

CONTACT

The in comp

Aaron Farmer, Senior Vice The Retail Coach afarmer@theretailcoach.ne 662.231.0608

45+/- Acres - IH 45 Southbound Feeder

Proposed AVAILABLE | LA MARQUE RENAISSANCE DISTRICT Hallam Street Extension

l Street | 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

• 4 miles north of Galveston Island • 15 miles southeast of Houston • Geographic center of Galveston County • ACCESS, PORTS, INDUSTRY, RAIL EXISTING RETAIL • All this behind a MAP hurricane protection levee system

Total Building Area 4627 SF Total Indoor Seating 80 People Total Outdoor Seating 16 People

Site Details

TRAFFIC COUNTS

TRAFFIC COUNTS Interstate 45 - 61,305 AADP

Texas Avenue - 11,820 AADP

Source: TXDOT 2016

PROPERTY INFORMATION

Source: TXDOT 2016

• City utilities

PROPERTY INFORMATION • More than 1600 linear feet of frontage on the south-

bound feeder road • Well trafficked downtown space adjacent to •the Extends Delany to the the I-45 southbound Post from Office and Road across street from the feeder road and positioned between the future off La Marque Economic Development Corporation and on ramps being installed as part of the TxDOT Office Gulf Freeway expansion. • 31 Customer Parking Spots and additional 6 • $1 billion investment for new road infrastructure in employee parking spots La Marque and Galveston County over the next 10 years. • Ideal Restaurant/Cafe/Deli Location • Offered at $4.00/sqft.

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 or Vice President Alex Getty, Executive Director agetty@lmedc.com La Marque Economic Development Corporation 409-938-9258 oach.net agetty@lmedc.com

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

The information contained herein was obtained from sources believed to be reliable; however, The Retail Coach, makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

409.938.9258

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.

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Reflecting on RECon: Reflecting on RECon: Texas CRE professionals weigh in on retail’s biggest week

Marshall Mills, President and CEO, Weitzman

BY BRANDI SMITH

Beyond the extravagant booths and limitless networking opportunities, this year’s ICSC RECon offered something even more valuable: excitement and optimism about the industry that has garnered so many pessimistic headlines.

“The attendees, from retailers to brokers to developers and other market players, were all upbeat and positive,” says Marshall Mills, President and CEO of Weitzman, which has offices in Austin, Dallas-Fort Worth, Houston and San Antonio. “These are people on the front lines of our business, and that positive outlook reflects our own assessment that we’re in the middle of a strong market for retail real estate.” JLL Houston Retail Land Brokerage Associate, Chris Bergmann, pointed to the attendance and attitude of ICSC as a clear indication that “retail is alive and well,” while Simmi Jaggi, a Senior Vice President and Houston Retail Land Brokerage Lead for JLL, highlighted the “sheer energy and positivity of the entire conference.”

For Jennifer Pierson, Managing Partner of Dallas’s STRIVE, the gathering was affirmation that “everything is happening exactly as it should.”

Majoring in real estate finance in college, Pierson says she never second guessed her chosen profession, which enticed her with the promise of straight commission. “It put me on an even playing field with all the men. I could put up numbers just as high or higher than theirs if I wanted to. No one could tell me how far I could go,” she says. “That was, and still is, very exciting to me.”

JULY 2018

What’s exceptional about the ICSC event is that all attendees, depending on their role, location and expertise, can get something different out of it. For example, George Cushing, JLL’s Managing Director of

“It seemed as though all 37,000 people in attendance were busy and actively pursuing a variety of opportunities,” she says.

“All is going to be better than OK,” says the 25-year CRE veteran.

this year was making sure our young brokers were well prepared for the show and soaking up every piece of knowledge they could,” says Pierson. “I also had a keen eye toward seeking out new talent. We are interested in expanding our lines of business and deepening our bench.”

Retail Investments within the Texas and the Southwest region, wanted to be able to gauge investor sentiment about the Houston Market. “We found it to be positive,” says Cushing. “We had several questions about the impact from Harvey, which while devastating to those directly affected, did not disrupt retail. Generally, we spread the word about excellent performance metrics for retail in the Houston market.”

Last year Pierson merged her owned-and-operated retail investment firm with another company dominant in the Dallas market, The Vitorino Group, to create STRIVE. She says that shifted her goals at RECon.

Cushing got his start in the industry more than 36 years ago, after his interest in working in a competitive business environment was sparked by a summer job managing a Texaco station and sailboat shop for a NASA engineer.

“My focus always comes from where I am sitting at the time, as is the case with everyone, I would imagine. We are in a strong growth mode at STRIVE, so my focus

“When I graduated from the University of Texas, I took a job with a suburban real estate company selling land. It was a great fit for me and I never looked back,” he

Chris Bergmann, Retail Land Brokerage Associate, JLL, Houston

Simmi Jaggi, Senior Vice President & Houston Land Brokerage Lead, JLL, Houston

says. “I still get up excited for the day ahead. I like the people I work with and I like the chess game of getting a deal over the finish line.” CRE’s variety is what excites JLL colleague Jaggi, who has logged three decades in the field after getting her real estate license at 18. “Every deal is different. Every day is different. It’s always new. It is also exciting to be part of the industry that changes and enhances the landscape of the city,” she says. Jaggi’s team visit to RECon reinforced what she knew already: It’s an exciting time to be in retail. “The innovation and evolution of the sector means our retail team, be it investment sales, leasing, tenant representation or disposition services, is busy solving new challenges and creating fresh opportunities,” she says. While his overall goals for the conference have stayed the same for The Signorelli Company’s Jeffrey Harrison -- strengthening relationships he’d had over the years, making new ones and learning as much as he can about the current and future needs of the retailers he plans to meet with -- how he approaches them has changed. “I’ve become a much better listener,” the company’s Retail Division Senior Vice President says. “When I’m in meetings, I really try and find out what that retailer’s specific needs are. I’ve learned a great deal by just asking good questions.” Those changes are what keep the 30-decade CRE veteran in the industry. “I get bored very quickly and there’s always something new happening in our business,” says Harrison, who started off as an accountant for a large commercial real estate syndicator and is now manning the largest new retail development in the Houston area, Valley Ranch Town Center. RECon can also be an excellent venue to build brand awareness, for a CRE firm or its portfolio of clients. That’s something Weitzman seized on this year.

Jennifer Pierson, Managing Partner, STRIVE, Dallas

George Cushing, Managing Director, Retail Investments, Southwest Region JLL Houston

“We fielded a team of nearly 100 professionals at ICSC, and all of our professionals were prepared and had their own goals for the show, whether it was tenant reps meeting with landlords for potential new locations or project reps pitching their centers to potential new tenants,” says Mills. “As a company, we supported the teams with research and other tools. We also marketed planned retail projects, because there is nowhere like ICSC RECon for the opportunity to meet with a “who’s who” of active, expanding retail concepts.” That’s something JLL’s Bergmann knows well. In addition to many companies, he represents Greenspace Holdings, a Houston-based self-storage developer. “Greenspace is looking to complete 50 new units of its self-storage facilities made from surplus shipping containers,” he says. “My focus was making sure we met with sellers throughout the U.S. that might be the right fit for a new facility.” Four days of workshops, panels and networking provided an almost endless to-do list, one that might be overwhelming for newbies. For the veterans with laser-like focus, it’s a 96-hour adrenaline rush loaded with highlights. Pierson, for example, says it was incoming 2018-19 ICSC Chairman Val Richardson’s speech that stood out most. “Val is a terrific human being with a strong moral compass and she has a keen business sense. I love seeing not just a woman in this role, but a very qualified woman. Her speech was spot on for where we are in our industry, and she was humble and heartfelt in accepting this very large responsibility,” she says of the new ICSC leader. “There is a deep talent pool of women in our business, but not enough women rise to the top.”

Jeff Harrison, Senior Vice President, Retail The Signorelli Company

Elizabeth Clampitt, Senior Vice President, Land Brokerage JLL Houston

Similarly, Mills says the keynotes, including football great and Good Morning America host Michael Strahan, gave excellent and entertaining speeches. “My overall takeaway from the sessions was that our industry has some great thinkers and doers,” he adds. Those thinkers and doers have always been good at another set of skills: adapting and evolving. “My approach has always been to work hard and to pay attention,” explains Pierson. “Things will always change, and the trick is to ride the wave in front of the change. It is a pretty fun ride if you are not afraid of it.” CRE professionals who’ve attended RECon over the years are part of the group riding that wave. As the industry has evolved, they’ve watched the event shift priorities as well. “Our industry is constantly changing! It’s really an exciting time where creativity and problem-solving skills are at the forefront,” Harrison says. “Best-inclass retailers have really separated themselves from the rest of the pack by understanding their customers and integrating technology and e-commerce into their business models.” “You can see it in the attendees and the exhibitors. We see far fewer of the traditional retail concepts, such as apparel or fashion, and far more restaurants, fitness users, beauty concepts and medical or dental practices that like retail locations,” says Mills. Continued on Page 24 >

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Reflecting on RECon: Reflecting on RECon: Texas CRE professionals weigh in on retail’s biggest week

< Continued from Page 21

Food and beverage in general was a significant focal point at ICSC this year, according to Elizabeth Camplitt, JLL Houston’s Senior Vice President of Retail Land Brokerage. She says consumers today, especially millennials, want an authentic, experiential relationship with the food they’re purchasing. “Retail owners and developers are looking to make the food component of their retail centers much more personal rather than a commodity. Food and beverage is widely regarded as a sustainable and simple way to make retail space more productive and a destination in and of itself,” she says. “As a result, we’re seeing the amount of space dedicated to food & beverage, specifically within the context of food halls, increase.”

remain interested in the market,” says Jaggi. “There is also a large pool of investors, specifically investment grade and foreign buyers, who seem more interested than ever in Houston and Texas.” Cushing, Jaggi’s JLL colleague, adds that the state’s largest city is enticing a healthy cross-section of wellcapitalized private equity and institutional investors. That was evident when Valley Ranch Town Center, one of the largest mixed-use developments underway in Texas, announced its next phase, Valley Ranch Outlets, at RECon.

Luckily, Texas is packed with creative and innovative people who are excited by that challenge, which is why Mills says RECon helped bolster his optimistic outlook for the state’s retail industry.

Mills agrees, predicting the continued evolution of brick-and-mortar using e-commerce tools to become stronger. “We’re already seeing Amazon focus on brick-andmortar to expand. While the marriage of the physical and the online store has been bumpy at times, I think it will also be rewarding in the long run,” he says. Keeping customers or guests at those brick-andmortar locations for the longest period of time will be key, according to Harrison. “For this reason, mixed-use projects will dominate,” he says. “Executing on the right combination of retail, residential, office, and entertainment components will be the keys to success.”

The pivot from traditional retail to experience or service-based retail is a direct result of consumers’ increased reliance on e-commerce. “Due to internet influence, we have to be more knowledgeable than ever about the retail industry because e-commerce impacts the real estate approach. You cannot just ‘plug and play’ in today’s age and the exact same prototype no longer works in every market and location,” Jaggi points out. “Today’s retail environment demands more creativity and innovation from retailers, owners, developers and real estate professionals alike.”

“Both have an important future.”

The team over at JLL also anticipates an increased emphasis on experience-based retail - from both the retailer and the owner/developer.

“The northern Houston outlet trade area is not served, with a projected trade area population of 457,000, and projected population and income growth (2017-2022) of approximately 13 percent,” Harrison explains. “The Outlets will be another complement to the retail, residential, entertainment, sports, office and medical uses at Valley Ranch. We have engaged The Outlet Resource Group (TORG) to assist us in the marketing and leasing of the outlets.”

“We operate in all of Texas’ major metros, and our professionals from D-FW, Austin, Houston and San Antonio were all busy,” he says. “During the show, we scheduled more than 400 meetings, and we had some great walk-ins from small chains in other states who wanted to talk to us about entering the Texas market.”

As for Dallas, Pierson calls it “white hot.”

Along with the retailers who want to set up in the Lone Star State comes a stream of investors who see it as a place where they can cash in.

So what does the next decade hold for the Texas retail industry? In short, Pierson says, it’s about retailers finding their “new normal.”

“Texas has historically had strong retail sales and because of that, developers, investors and retailers all

“They’re right-sizing their presence in both mediums: brick and mortar and e-commerce,” she says.

“We are now being viewed as a primary market and one of the brightest spots on the U.S. map. The fundamentals have never looked so good,” she says. “We are experiencing an economic shift and there is no turning back.”

“Retailers will be more creative with their prototypes to create a better experience and entice consumers,” predicts Jaggi. “On the owner/developer side, owners are evaluating ways to create an experience and keep people on property, be it entertainment, incorporating more green space and walkability into their designs, and/or creating a carefully curated food & beverage component.” Bergmann suggests Houston’s urban core will also be more of a draw for retailers, who are watching the city’s density increase. “Limited land availability and rising land costs coupled with consumers’ desire for a local, walkable shopping experience will drive more mixed-use and creative projects,” he says. As quick as things change in this part of the CRE industry, Cushing hedges his bets. “It is hard to imagine what the retail landscape will look like in 10 years, but I will bet it will be exciting and great real estate will be an integral part of the picture,” he says. However, there’s one thing on which he and his colleagues can agree. “The best is yet to come,” says Cushing.

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New Ruling on Short-Term Rentals BY: TRAVIS HUEHLEFELD, ATTORNEY, WILSON CRIBBS+GOREN

The Supreme Court of Texas recently issued an opinion that has a major impact on short-term rentals in Texas and the interpretation of deed restrictions.

In Tarr v. Timberwood Park Owners Association, Inc., the Supreme Court of Texas held that phrases in deed restrictions such as “used solely for residential purposes” are not broad enough to prohibit short-term rentals. The case resolved a split among Texas courts relating to the interpretation of deed restrictions containing such language. Prior to Tarr, lower courts reached opposite results despite being faced with similar language. Tarr concerned language in deed restrictions affecting San Antonio’s Timberwood Park subdivision. The language is very similar to language found in many residential deed restrictions. The restrictions stated that: All tracts shall be used solely for residential purposes, except tracts designated ... for business purposes, provided, however, no business shall be conducted on any of these tracts which is noxious or harmful by reason of odor, dust, smoke, gas, fumes, noise or vibration .... Further, the deed restrictions stated that: No building, other than a single family residence containing not less than 1,750 square feet, exclusive of open porches, breezeways, carports and garages, and having not less than 75% of its exterior ground floor walls constructed of masonry, i.e., brick, rock, concrete, or concrete products shall be erected or constructed on any residential tract in Timberwood Park Unit III and no garage may be erected except simultaneously with or subsequent to erection of residence.... All buildings must be completed not later than six (6) months after laying foundations and no structures or house trailers of any kind may be moved on to the property. The bolded language is important in the outcome of the case. Equally as important as the bolded language is the context in which such language appears because courts distinguish between use restrictions and structural restrictions and will not conflate these separate types of restrictions. The importance of this distinction in the Tarr case is that the first provision’s context is in respect to use restrictions and the second provision’s context is in respect to structural/architectural restrictions. The crux of the HOA’s argument was that the deed restrictions provided for a single-family, residential purpose. Under that argument, the HOA combined language from the two provisions copied above. However, the Court drew a distinction between use and structural restrictions.

JULY 2018

A major takeaway from Tarr ...

is a restatement of a long standing principle of real property law - if a deed restriction does not expressly address or restrict a certain use, that usage must be permitted. In Tarr, the deed restrictions were silent on short-term rentals. The Court noted that words in a deed restriction cannot be “enlarged, extended, stretched or changed by construction.” Simply put, Texas courts will not make up restrictions when a deed restriction is silent on the issue.

Moving forward after Tarr ...

deed restricted neighborhoods can address short-term rentals in a number of ways that best suit their distinct neighborhood. An important step to regulate short-term rentals would be to define “short-term rentals” within the deed restrictions. The most common approach is defining short-term rentals as a rental of less than thirty days or one month. The first provision deals with use within the subdivision. It is important to note that it only states use for “residential purposes” and not “single family residential purposes.” The Court found that residential purpose means using the property for living purposes as distinguished from using the property for business purposes. The Court found that renters do use the house for living purposes (i.e., one purpose of short-term rental is to provide short-term living arrangements). The Court also noted that the deed restrictions failed to address leasing, use as a vacation home, short-term rentals, minimum-occupancy durations or the like. At the most basic level, renting a home on a short-term basis is considered a residential purpose since the dwelling is used for a living purpose. The Court was unconvinced by arguments that making a profit from short-term rental is a business use. The Court noted that such use would likewise prohibit all leasing – whether short or long term. The second provision deals with structural/architectural restrictions (e.g., contains language such as “erected or constructed” and contains sources of materials, building requirements, etc.). The Court found that “single family residence” pertains to the type of structure that must be on the lot (not the type of use that may be conducted on such lot). For instance, an apartment, duplex, triplex, or other similar structures would be prohibited on the lot since such structures are not a “single family residence”. Although the structure must be single family residence, the use within such home was not expressly limited to single family residential use. Instead, the use was simply restricted to a “residential purpose.” The Court did not combine the two provisions to read that the use was restricted to single family residential purposes.

One approach to short-term rentals ...

would be a complete prohibition of short-term rentals. Although this may seem like an overreach on the part of a neighborhood, such prohibition would likely be permissible. The prohibition would typically be placed in the “prohibited use” section of the deed restrictions. The prohibition should be accomplished with clear language.

Neighborhoods, however, may choose to permit short-term rentals.

Neighborhoods wanting to allow short-term rentals have two primary avenues for achieving such results. First would be expressly stating that short-term rentals are permitted. Deed restrictions generally have a “permitted use” section, which lists the permitted uses within the neighborhood. A neighborhood, however, need not necessarily amend their deed restrictions to expressly permit short-term rentals. As Tarr shows, in many deed restrictions, short-term rentals are likely permitted through silence/vague language.

Neighborhoods can take a third approach ...

and allow short-term rentals subject to various restrictions. This approach would provide neighborhoods the opportunity to allow short-term rentals but subject to specific restrictions that best suit that particular neighborhood’s needs. There are numerous ways a neighborhood could regulate short-term rentals. As a starting point, neighborhoods may apply different rules to owner-occupied short-term rentals and non-owner-occupied short-term rentals. The following are common restrictions: occupancy limits, use restrictions (e.g., a neighborhood may prohibit certain types of assemblies), time restrictions on certain types of uses (e.g., a neighborhood may permit weddings at a residency, but only within a certain time window); and/or where in the neighborhood short-term rentals are permitted.

Tarr was a helpful decision because...

it resolved a split among Texas cases. Neighborhoods and individuals desiring to engage in short-term rentals now have more certainty on whether such activity is permitted in any given neighborhood.

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SCOOP The following pages contain a calendar of Texas CRE events, networking photos, and deals/announcements. For more updates, log on to REDNews.com

JULY FEATURE: “GONE FISHING” WITH ACRP

Central South Texas

North Texas

Southeast Texas

CENTRAL SOUTH TEXAS

July MONDAY REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

TUESDAY 2

IREM Austin Luncheon [11:30am -1:00pm]

BOMA AUSTIN: bomaaustin.org/ BOMA SAN ANTONIO: bomasanantonio.org CBA: cbaaustin.org/ CCIM CENTRAL TEXAS: ccimtexas.com CREW AUSTIN: crewaustin.org CREW SAN ANTONIO: crew-sanantonio.org CTCAR: ctcaronline.com IREM AUSTIN: iremaustin.org IREM SAN ANTONIO: iremsanantonio.org

WEDNESDAY

RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com TABB AUSTIN: tabb.org/austin_chapter.php TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org

THURSDAY

FRIDAY 5

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

BOMA Austin - BOMI: RPA/ FMA/PAC [8:00am - 5:00pm]

IREM San Antonio Luncheon [11:30am 1:00pm]

REDNews August Issue Deadline [5:00pm]

ULI Austin - Coffee Chat [8:00am -9:00am] ULI San Antonio - MultiOrganization Mixer w/ I-LinCP, SMPS,AGC/CLC, AIA, IFMA, CCIM & CREW [4:00pm -7:00pm]

REDNews Newsletter [4:00pm]

IREM Austin Budgeting for RE Managers [8:30am - 11:00am]

IREM Austin - Candidate & Future Candidate Meeting [12:00pm - 1:30pm]

BOMA Austin - Luncheon [11:30am - 1:30pm] TABB Austin - Luncheon [11:30am - 1:00pm] BOMA Austin - Senior Executive Workshop [2:00pm - 4:00pm]

REDNews Newsletter [4:00pm]

ULI Austin - Breakfast [7:30am - 9:00am]

CCIM CT - Luncheon w/ CTCAR [11:30am - 1:00pm]

ULI San Antonio Mentorship Program End of Year Mixer [5:30pm - 7:30pm]

CTCAR - Luncheon w/ CCIM [11:30am - 1:00pm] TABB San Antonio Luncheon [11:30am - 1:00pm]

REDNews Newsletter [4:00pm]

JULY 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.

CENTRAL SOUTH TEXAS

CREW AUSTIN MOTHER AND ME FUNDRAISER

SOCIAL BOMA AUSTIN

L to R:Robyn Totah, Margo Pflum, Vicki McDonald, Amanda Aaron

CREW SAN ANTONIO CREW Austin Mother and Me Fundraiser Robyn Totah, Margo Pflum, Vicki McDonald, Amanda Aaron

L to R: Chad Williams, Daniel Campbell, Stephen Swan

CREW San Antonio Hard Hat Tour of EPIcenter

Hard Hat Tour of EPIcenter

CTCAR

Volunteers install mulch at the Austin Family Guidance Center CTCAR Volunteers Install mulch at Austin Family Guidance Center 5-11-18

Allied Professional Member Speed Networking

EP Seminar

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 GFW AR: gfwar.org IREM DALLAS: irem-dallas.org IREM FORT WORTH: fortworthirem.org

NORTH TEXAS

July MONDAY REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

TUESDAY 2

BOMA Fort Worth SAC Meeting [3:00pm - 4:30pm]

WEDNESDAY

THURSDAY

BOMA Fort Worth - Allied Council Committee Meeting [11:30am - 1:00pm]

FRIDAY 6

LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR GFW: gfwar.org/home-top-commercial.html 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

CCIM North Texas Summer Volunteer Event [12:30pm - 3:30pm]

BOMA Fort Worth Education Committee Meeting [10:00am - 11:00am] REDNews August Issue Deadline [5:00pm]

BOMA Dallas - Casino Night [7:00pm - 10:00pm]

CCIM North Texas CI104 Investment Analysis [8:30am - 5:30pm]

BOMA Dallas Luncheon [11:00am - 1:00pm]

REDNews Newsletter [4:00pm]

JULY 2018

BOMA Fort Worth - Board Meeting [12:00pm - 1:30pm]

BOMA Fort Worth Community Service Committee Meeting [3:30pm - 4:30pm]

BOMA Dallas International MOB Conference Follow-up [11:30am - 1:00pm]

CCIM North Texas - Happy Hour [5:30pm - 7:00pm]

IREM Fort Worth - Happy Hour [4:00pm - 6:00pm]

ULI North Texas - Development & CRE Technology Showcase [5:30pm - 7:30pm]

CREW Fort Worth - Shoot & Sip [5:30pm - 8:00pm]

ULI North Texas Summer Sizzle [5:00pm - 7:00pm]

TABB Dallas Luncheon [11:30am 1:00pm]

CCIM North Texas Development & Feasability Course [8:00am - 5:00pm]

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 INDUSTRIAL LUNCH & LEARN

NORTH TEXAS SOCIAL NTCAR

L to R: Traci Devereaux, Rachel Guss, Cheryl Gethers, Mandy Robertson

BOMA DALLAS INNOVATES 2018 BOMA Dallas Traci Devereaux, Rachel Guss, Cheryl Gethers, Mandy Robertson at BOMA Dallas Industrial Lunch & Learn

L to R: Jason Boyd, Candace Brownell

LADIES IN CRE

CI 104:

Investment Analysis for Commercial Investment Real Estate July 16-19, 2018 | Addison, TX

MA Dallas Jason Boyd and Candace Brownell at BOMA Dallas Innovates 2018

L to R: Sarah Savage, Natalie Morin, Lindsay Jones

CI 104 encompasses the entire life cycle of an investment, from refinancing to capital improvements to disposition. Within each case study, you will encounter a key investor decision: Should a non-taxable investor acquire an investment with or without debt financing? What if the investor is taxable? During the holding period of an investment, should an investor make a discretionary capital expenditure or not? How does an investor evaluate disposition alternatives? CI 104 uses advanced analyses to build on the core CCIM concepts. Sensitivity analysis allows you to pinpoint exactly how slight changes in market fundamentals affect investment goals. Risk analysis uses past performance to anticipate how an investment is exposed to external and internal threats. Learn how to mitigate those threats through smart planning and negotiations. This course will teach you how to: > apply key investor decision-making analyses to optimize investment returns;

Session Dates, Time, and Location: LOCATION: Addison Conference Center 15650 Addison Rd Addison TX 75001 DATES: July 16-19, 2018 TIME: 8:30 a.m. - 5:30 p.m.

Instructors: Robin Dyche, CCIM Joseph Fisher, CCIM

Tuition: Member: $1,365 Non-member: $1,650 Prerequisites: CI 101: Financial Analysis for Commercial Investment Real Estate Completion of one of the following:

> more effectively forecast investment performance by quantifying real estate risk; and

> Preparing to Negotiate

> leverage CCIM analytical tools to improve decision making.

> Commercial Real Estate Negotiations

(800) 621-7027, option 2

L to R: Erin Vivian, Mary Alice, Sydney Miller

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

SOUTHEAST TEXAS

July MONDAY REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

TUESDAY

WEDNESDAY

GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org

THURSDAY

FRIDAY

BOMA Houston - TOBY Interest Meeting [8:00am - 9:30am]

CCIM Gulf Coast - Luncheon [11:30am 1:00pm]

CREAM - Luncheon [11:30am - 1:00pm]

REDNews Newsletter [4:00pm]

FBSCR - Monthly Meeting [8:00am - 9:00am]

BOMA Houston - BOMI Course [8:00am - 5:00pm]

Oâ&#x20AC;&#x2122;Connor Houston Apartment Forecast Luncheon [11:30am - 1:00pm]

REDNews Newsletter [4:00pm]

JULY 2018

CREN Gulf Coast Luncheon [11:00am 1:00pm]

REDNews August Issue Deadline [5:00pm]

BACREN - Luncheon [10:30am - 1:00pm] IREM Houston - Innovation Impact Seminar [3:00pm 4:30pm]

ACRP Houston Breakfast [7:00am 8:30am] TABB Houston - Chapter Meeting [11:30am - 1:00pm] CREN Gulf Coast - Happy Hour [4:30pm - 7:00pm]

CREN Gulf Coast Marketing Session [7:30am - 9:00am]

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.

CCIM HOUSTON

SOUTHEAST TEXAS ICSC RECON

SOCIAL ACRP FISHING TOURNAMENT

L to R: Gary Martin, Mark Fowler, Chris Brown, Paul Lynn

1st Place - Heaviest Stinger - Texan Floor L to R: Ray Hankamer, Richard Miller, Trey Miller

L to R: Donnie Chang, Bill McGrath

2nd Place - Heaviest Stinger - Raus Construction

IREM HOUSTON

CCIM Gulf Coast-Donnie Chang, Bill McGrath-Luncheon-061418

IREM Houston proudly inducted 12 new Certified Property Managers at their May 2018 luncheon

Pictured: Tamiela Mitchell, Tricia Mattice, Rachel Mondshine, Katy Mayer, Robert Lopes, Elizabeth, Cindy, Kaci, La Nee, Vanessa Dyer, Ashley with Chapter President Stephanie Swanson.

3rd Place - Heaviest Stinger - Method Architecture

CENTRAL SOUTH TEXAS bulletin

AUSTIN, TX RETAIL SALE Tarantino Properties purchased the 110,049 sf North Park Shopping Center located at 9616 N. Lamar Blvd. Tarantino Properties will manage & lease the property from its Austin office, led by Nick Tarantino. The selling broker was Jim Batjer with HFF.

Brad Carbo has joined JLL to head their Austin Project & Development Services division.

AUSTIN, TX CREATIVE OFFICE SPACE DEVELOPMENT Zydeco Development Corporation owns most of the 550-acre mixed-use development on SH 71 & SH 183 called MetCenter & plans to start construction on a new creative-office campus within the development which will include about 406,000 sf in four buildings. An agreement with the City of Austin was recently signed to house its municipal court at the MetCenter. Nate Paul with World Class Capital purchased seven buildings with 400,00 sf near Ben White Blvd & Riverside from Digital Realty LP, of which 100,000 sf is vacant. The buildings have been renamed “Austin Tech Center”. FLEXIBLE INDUSTRIAL SPACE DEVELOPMENT The Collective Austin, an 83,000 sf commercial warehouse development, is being constructed at 7601 S. Congress Avenue at the corner of Dittmar Road. The project will include six separate buildings with spaces ranging from 1,800 sf – 28,000 sf. The space is designed for small businesses & owners looking for studio space & is being developed by Equitable Commercial Realty. MIXED-USE DEVELOPMENT Capella Capital Partners plans to break ground in early 2019 on North Gateway Plaza, a residential & office complex located at 10615 Burnet Road just south of The Domain & adjacent to the city-owned McKalla Place. The project will include a 21-story multi-family project, 300,000 sf of office space & 20,000 sf of retail /restaurant space. It is scheduled for completion in 2021. OFFICE DEVELOPMENT Lincoln Property Company & Kairoi Residential are proposing to build a 66-story office/residential tower at 600 Guadalupe Street which will be the tallest office tower in Austin. It is projected to have 575,000 sf office space under 349 residential units & will include 25,000 sf of ground floor retail/ restaurant space. OFFICE LEASE Compeat Inc leased 19,676 sf for their headquarters at 11500 Alterra Parkway. The landlord is Accruent LLC & the tenant was represented by Jay Austin with CBRE in Austin. OFFICE LEASE EBQuickstart LLC opened a 10,000 sf second office at 11200 Lakeline Blvd off Hwy 183. This is in addition to their 20,000 sf space at 3000 S. I-35.

JULY 2018

OFFICE LEASE Car2go NA LLC, the maker of an app that allows users to borrow cars on demand, has leased 28,500 sf at 901 East Sixth Street, a building to be completed in September by Pegalo Properties & Endeavor Real Estate. Car2go will be expanding their space from 15,000 sf at 1717 W. Sixth Space.

OFFICE LEASE Indeed Inc will lease 307,000 sf upon completion of Block 71, the office building under construction at Sixth Street & Colorado Avenue by Trammell Crow Company. Construction completion is projected for 2021.

BULVERDE, TX MEDICAL OFFICE LEASE Tisdall & Bruggeman leased 5,952 sf at Singing Hills Professional Building located at the northwest corner of Hwy 281 & Harmony Hills. Todd Gold & Kim Gatley with REOC San Antonio handled the transaction. MEDICAL OFFICE LEASE Ambulatory Surgical Center leased 12,421 sf at Singing Hills Professional Building at 524 Singing Oaks. Todd Gold & Kim Gatley with REOC San Antonio handled the transaction. RETAIL SALE Investment Property Exchange Services purchased the 18,457 sf Retail Building 3 in Singing Hills located at the northwest corner of Hwy 281 & SH 46 from SH-DJL Development LLC. Bryan Ottmers with Rohde Ottmers Siegel Realty represented the buyer & Todd Gold & Kim Gatley with REOC San Antonio represented the seller.

CEDAR PARK, TX

MIXED-USE PROJECT REQUEST

Cedar Park is looking for a master developer for its Bell Boulevard revitalization project which will create a mixed-use corridor along US Hwy 183 between Park Street & Buttercup Creek Blvd.

EL PASO, TX INDUSTRIAL LEASE Chicago-based Redwood Logistics leased 100,483 sf at 1270 Don Haskins. This is part of a warehouse expansion for their full-service transportation brokerage. Arturo De la Mora & Christian Perez Giese of CBRE’s El Paso office & David Saad of CBRE’s Chicago office represented the tenant.

LAGO VISTA, TX WATERFRONT PROPERTY/MARINA SALE Waterford Lago Vista LLC purchased 123 acres which included waterfront property & an 80-slip marina on Lake Travis. The buyer will develop 49 readyto-go lots for single-family development as well as larger vacant tracts. The buyer was represented by Tate Chiles with NB Elite Realty & the seller was represented by John St. Clair, Robert Grunnah & Michael Ytem with Younger Partners.

PFLUGERVILLE, TX INDUSTRIAL SALE Lutheran School Association-Greater Austin Area purchased a 67,728 sf building on 7.06 acres from Bison Project 2000, LTD. Greg Marberry with CBRE in Austin handled the transaction.

RETAIL OUTLET OPENING California-based Living Spaces opened their 500,000 sf showroom/distribution center near the intersection of SH 45 & Heatherwilde Blvd just west of the Texas 130 toll road.

ROUND ROCK, TX

WATER PARK DEVELOPMENT Construction has started on America’s largest water park, Kalahari Resorts Round Rock, an African-themed water park & convention center located at the southeast corner of US 79 & Kenney Forest Blvd. It is scheduled to open in 2020 at a cost of $550 million.

SAN ANTONIO, TX

INDUSTRIAL DEVELOPMENT Brooks & Industrial Group Southwest have formed a joint venture to develop a 350,000 sf industrial facility at the southwest corner of Goliad Road & City Base Landing. This will be the first phase of a project which is projected to include an additional 1.1 million sf of industrial space. Construction should be completed by spring 2019 on Phase One. INDUSTRIAL DEVELOPMENT Stonelake Capital Partners is developing the 431,525 sf Pan Am West Industrial Park, four one-story buildings ranging in size from 82,000 sf to nearly 120,000 sf on 25.5 acres located at 3319 I-35. This project will be adjacent to an 842,545 sf industrial development owned by Stonelake. OFFICE DEVELOPMENT Worth & Associates has broken ground on Inwood Village Business Park located at 2722 Bitters Road, just south of North Loop 1604. The 77,000 sf building will include 23 office suites ranging in size from 1,500 to 3,000 sf & four larger suites ranging from 4,500 to 11,000 sf. OFFICE SALE Kenton & Nancy Kimball purchased the 8,500 sf building located at 803-815 S. St. Mary’s Street from South Town Professional Group. The seller was represented by Gene Williams with CBRE in San Antonio. RETAIL CLOSING The Sears store at Park North Shopping Center across from North Star Mall will close in mid-July. The company does not plan to close its remaining stores in San Antonio. RETAIL SALE Dallas-based LRIC Properties purchased the 86,196 sf Valley View Shopping Center at the southwest corner of Blanco Road & West Avenue from Weingarten Realty.

SAN MARCOS, TX MEDICAL OFFICE DEVELOPMENT

Kogut Commercial Real Estate & Mittman Real Estate have broken ground on Hunter Medical Plaza, a 26,000 sf buiding located at 2202 Hunter Road. It is 38 percent preleased to MedFirst Primary Care. Ken Adams & Licia Shreves with Transwestern are handling leasing.

ADDISON, TX INDUSTRIAL LEASE Spacee Inc leased 12,000 sf at 3752 Arapaho Road in Marsh Business Park East from GIJV Texas Owner LP. Susan Singer, Joe Santaularia & Brock Wilson with Bradford Real Estate represented the landlord & Evonne Keene, Corbin Bengston & Rob Pipkin of Mohr Partners represented the tenant. INDUSTRIAL SALE 14400 Midway LLC purchased a 55,330 sf office-warehouse at 15100 Midway. Chad Albert of NAI Robert Lynn brokered the sale.

AUBREY, TX VACANT LAND SALE Worldwide Rock Enterprises LP sold 15.49 acres on South Highway 377 to Rustic Furniture Warehouse LLC. Taylor Schmidt & Reed Vestal with Lee & Associates-Houston represented the seller & George Tanghongs with Lee & Associates-DFW represented the buyer.

CARROLLTON, TX

INDUSTRIAL SALE BZO Custom Wheels LLC sold its 157,909 sf building at 3061 Saner Avenue to an investor. Chris Volke with Texas Overland Company brokered the sale along with Ryan Boozer with Stream Realty. OFFICE SALE Dallas-based Reserve Capital Partners purchased the 111,286 sf Danari Office Park located at Preston & Belt Line Road from a California investor. Ron Hebert with Marcus & Millichap brokered the sale

DENISON, TX RETAIL LEASE HeyDey Entertainment leased 42,500 sf as an anchor at Gateway Village, a 94-acre mixed-use development located at TX HWY 75 & FM 691 from Covenant Development. The landlord was represented by Ryan Smith & the tenant was represented by Bryan Cornelius & Tim Henson with Venturetainment, the restaurant & entertainment division of Venture Commercial.

INDUSTRIAL LEASE Nationwide Auto Services leased 13,863 sf at 1215 Trend Drive from Stonelake Capital Partners. Josh Barnes, Andrew Gilbert & Ben Wallace with Holt Lunsford represented the landlord & Rich Young, Jr with Rich Young Company represented the tenant.

FARMERS BRANCH, TX

INDUSTRIAL LEASE Shearer Supply leased 26,170 sf at 1500 Luna Road. Ken Wesson of Lee & Associates negotiated the lease with Blake Kendrick of Stream Realty.

FORT WORTH, TX

INDUSTRIAL LEASE Transpere LCC leased 23,131 sf at 1213 Trend Drive. Josh Barnes, Andrew Gilbert & Ben Wallace of Holt Lunsford negotiated the lease with Jo Thompson of LaTerra Commercial. INDUSTRIAL SALE HFM Properties purchased a 31, 728 sf office-warehouse at 3228 Skylane Drive. Chad Albert of NAI Robert Lynn brokered the sale. INDUSTRIAL SALE Enginetech purchased a 63,000 sf building at 1205 West Crosby Road from Caddo Valwood. Eric Crutchfield with Stream Realty represented the buyer. PROFESSIONAL OFFICE SALE Carter Validus, a REIT focused on medical properties, purchased a 21,500 sf building located at 1601 W. Hebron Parkway. Justin Keane & Nathan England with Wynmark Commercial represented the seller & Greg Trainor with Fairfield Advisors represented the buyer.

DALLAS, TX INDUSTRIAL LEASE M.A.N. Sports LLC leased 20,551 sf at 12150 Shiloh Road from Frontier Equity. Josh Barnes & Ben Wallace with Holt Lunsford represented the landlord & Stephen Cooper with NAI Robert Lynn represented the tenant.

INDUSTRIAL LEASE Retailcomm leased 40,000 sf at 13810 Welch Road. Sharon Morrison, Steve Jarvie & Jack Brezette negotiated the lease with Cameron Nash of Champions Management.

INDUSTRIAL SALE Armet Dale Street Ltd purchased a 31,000 sf building located at 1420 Northpark Drive from Cameo America Corporation. Jeff Givens & Todd Hawpe with Transwestern handled the transaction. OFFICE SALE Quorum Architects purchased a 12,000 sf building located at 825 Vickery. Jim Sager & Linda Claytor with Transwestern represented the seller.

GRAHAM, TX INDUSTRIAL SALE Mark Kalaj sold a 105,720 sf building located at 338 North Cliff Drive to Traylor Investments Cliff LLC of Bartonville, Texas. Mercer Graham Properties LLC of Dallas sold a 125,810 sf building to Jordan Industries of Tampa, Florida. Scott Axelrod with Henry S. Miller was involved in both transactions & Marcus & Millichap represented the buyer for the North Cliff property.

GRAPEVINE, TX OFFICE RELOCATION OK-based Paycom Software, Inc. will relocate its Texas operations to a 14-acre site in Grapevine on which a new office building will be constructed beginning in 2019. Move-in plans are for 2020. OFFICE RELOCATION THE TRADE GROUP, an event marketing & creative design firm established in 1986, is relocating their global headquarters to Grapevine &

will occupy a 200,000 sf office facility, adding 80,000 sf to their current 120,000 sf facility.

IRVING, TX OFFICE SALE A partnership of Taurus Global Real Estate Investment purchased the 192,000 sf Greenway Tower building on SH 114 near MacArthur Blvd. HFF handled the transaction. VACANT LAND SALE Reeder Concrete Inc purchased 203,860 sf of land at 160 Belt Line Road from STP Summit LLC. Marshall Horn & Jeff Mercer with Mercer Company brokered the sale with John St. Clair of Younger Partners.

NORTH TEXAS

bulletin

Rendering Courtesy http://3plcentral.com

LEWISVILLE, TX DISTRIBUTION FACILITY LEASE Toyota Motor Sales USA leased a 121,188 sf distribution facility at 121 Riverview Crossing. Melissa Holland with JLL represented Toyota & Dan Spika & Jim Breitenfeld with Henry S. Miller represented the landlord, ML Realty Partners. MIXED-USE DEVELOPMENT Bright Realty has broken ground on a 324-acre mixed-use development called The Realm at Castle Hills located just west of SH 121/Sam Houston Tollway & Josey Lane. Phase I will include a 235,000 sf office building & 15,000 sf of restaurant space. The project will also include a multi-family project along with retail space.

FLOWER MOUND, TX DISTRIBUTION CENTER DEVELOPMENT Duke Realty has broken ground on a 635,000 sf distribution center at 1001 Lakeside Parkway and has pre-leased 450,000 sf to PPG Industries, Inc.

Clay Walton has joined Trademark Property Company as vice president of leasing.

RICHARDSON, TX OFFICE LEASE Paranet Solutions leased 13,500 sf at Eastside Atrium, 800 East Campbell Drive from Skyrise Properties. Michael Griffin & Roy Reis with Transwestern represented the tenant & Rick Currey & Pat Hanahan with Fobare Commercial represented the landlord. OFFICE SALE B.H. Management purchased the 122,300 sf two-story building at 1310 E. Renner Road from an affiliate of Champion Partners. Jamie Jennings, James Mantzuranis & Andrew Rabinovich with Stream Realty brokered the sale. PROFESSIONAL OFFICE SALE HSM Buckingham, a partnership formed by Henry S. Miller Equity Partners, purchased the 13,754 sf College Park Professional Building at 1001 East Buckingham. Darrell Hurmis with Henry S. Miller brokered the sale.

Rob Buie has joined Trademark Property Company as senior portfolio manager.

Gary Carlton has joined Trademark Property Company as corporate portfolio controller.

WHITE SETTLEMENT, TX INDUSTRIAL SALE NA Realty Investments purchased a 47,000 sf building located at 8144 West Freeway from American Builders & Contractors Supply Company. Jeff Givens & Todd Hawpe with Transwestern represented the buyer. Mark Collins & Shannon Johnston with Cushman & Wakefield represented the seller.

JULY 2018

SOUTHEAST TEXAS bulletin

ATASCOSITA, TX SCHOOL DEVELOPMENT Humble ISD purchased 19.9 acres in the 13000 block of West Lake Houston Parkway for the development of an elementary school. Mark Wimberly with Houston Commercial Development represented the buyer.

CYPRESS, TX RETAIL CLOSING Randalls is closing Randalls at Coles Crossing, located at 12312 Barker Cypress, its third Houston-area store to close this year. The 67,334 sf retail building is located on approximately 7 acres & was sold to Williamsburg Enterprises, a Houston-based real estate investment firm. Plans for the property are not known.

HOUSTON, TX BAYOU PARK LAND DEVELOPMENT Bayou Greeways 2020, a public-private partnership between Houston Parks Board & the Parks & Recreation Departments is planning to transform the underutilized land along the nine major bayous into linear parks. This will create a 150-mile network of parks & trails adding 3,000 acres of green space. It is being developed in collaboration with the Harris County Flood Control District & is projected for completion in 2020.

Kim Bernick joined EDGE Realty Partners as a senior retail associate.

Scott Fikes joined JLL as senior vice president of their office leasing team.

Madeline Gregory joined PMRG as leasing manager.

Burr Buckalew & his team Charlotte Sanders, Laura Sbia & Patsy Hannah joined Riverway Title.

Trey Erwin joined Lee & Associates.

AJ Williams joined NAI Partners.

Zane Carman joined NAI Partners.

Tim Gregory joined JLL as senior vice president in their healthcare division.

CYPRESS/ HOUSTON/HUMBLE/ RICHMOND, TX RETAIL SALE Quattro Venture purchased seven properties totaling 137,000 sf including Coles Crossing III, Miramesa Center & Highway 290/Mueschke Center in Cypress; River Pointe Center & River Gate Center in Richmond, Canyon Lakes Center in Humble & Clay Road Crossing Center in Houston. Josh Jacobs & Burdette Huffman with EDGE Capital Markets represented the seller.

HOUSTON, TX DISTRIBUTION DEVELOPMENT Dallas-based Coca-Cola SW Beverages, a subsidiary of Mexicobased Coca-Cola bottler Arca Continental will consolidate its local operations into a +/- 1 million sf distribution facility in Pinto Business Park located at I45 & Beltway 8 with groundbreaking in the third quarter & completion first quarter 2020. The company owns 145.6 acres in Pinto Business Park. After moving the company will close its two existing plants on Bissonnet Street & the Gulfgate area as well as their warehouses & distribution facilities on Brittmoore, Channelview, Glenbrook & Conroe. INDUSTRIAL DEVELOPMENT Houston-based TCC Multifamily Interiors is building a headquarters building at 9340 Derrington Road which will include a 30,000 sf office & a 45,000 sf warehouse. They will be relocating from their current space off Blalock Road. INDUSTRIAL LEASE Liberty Property Trust has started construction on Grocers Supplyâ&#x20AC;&#x2122;s 727,600 sf distribution center located at 14803 Woodham Drive. Delivery is expected second quarter 2019.

INDUSTRIAL LEASE NC-based Kitchen Cabinet Distributors leased 108,000 sf in Pinto Business Park located at I45 & Beltway 8. Jim Foreman & Allison Bergmann with Cushman & Wakefield represented the landlord & Faron Wiley & Jim Stark with CBRE represented the tenant. INDUSTRIAL SALE Black Equities Group purchased Interwood Business Center, 192,000 sf in two buildings located at 1443014440 John F. Kennedy Blvd & 1445-1449 Heathrow Forest Parkway from Stockbridge Capital Group. Trent Agnew, Rusty Tamlyn & Dane Peterson with HFF represented the seller. INDUSTRIAL SALE Dan-An International sold the 48,000 sf building at 4551 Kennedy Commerce in Kennedy Green Business Park to 4551 Kennedy Commerce 2018 LP. Marc Drumwright with Southwest Realty Advisors represented the seller & Joe MacDougall with MacDougall & Company represented the buyer. MIXED-USE DEVELOPMENT CA-based Spear Street Capital & Transwestern plan to break ground in 2019 on the mixed-use development to be called The Ro, located at the site of the old Exxon campus on Buffalo Speedway. Details about the development were not available. MIXED-USE DEVELOPMENT Houston-based McNair Interests plans to break ground on a 1.2 million sf mixed-use development located on six acres at Richmond & Post Oak in 2019 with delivery in 2023. The development will include luxury apartments, a 350,000 sf office, 30,000 sf retail/restaurant space & a 150-room Rosewood Hotel. MULTI-FAMILY DEVELOPMENT PMRG will start construction on a multifamily project at 3300 Main between Stuart & Francis which was formerly owned by the city of Houston. The project is expected to house 336 units. OFFICE LEASE GTC Technology International leased 42,000 sf & Cameron International leased 11,000 sf at 900 Threadneedle. Bob Cromwell & Kevin Nolan with Moody Rambin represented the landlord. Anthony Squilllante with Stream Realty represented GTC & Derek Myers with NKF represented Cameron. RETAIL SALE American Realty Advisors purchased Tanglewood Court, a 125,000 sf center located at 5895 San Felipe from Fidelis Realty Partners & BayNorth Capital. The seller was represented by Alan Hassenflu, Lynn Davis & Glenn Airola with Fidelis & Jessica Harrison with ARA represented the buyer.

MAGNOLIA, TX VACANT LAND SALE Cobolt 201 Ltd purchased 15.1 acres at FM 1488 & Old Hempstead Road from Edwin J. Thomas Trust & Depado Partners purchased 2.6 acres at FM 1097 & Plez Morgan Drive from RTL Management. Rob Whitaker with NewQuest brokered both sales.

PEARLAND, TX SENIOR LIVING DEVELOPMENT Larkspur Shadow Creek purchased 9.5 acres near the northeast corner of Shadow Creek Parkway & Kingley Drive for the development of a senior living project. Brad LyBrand & Brad Elmore with NewQuest represented the seller, A-S 143 SC Ranch LP, an entity of NewQuest Crosswell. Kenady Davis of BHW Capital represented the buyer.

RICHMOND, TX RETAIL SALE An undisclosed buyer purchased Grand Mission Plaza, a 14,525 sf retail center located at 8620 Grand Mission Blvd from an undisclosed seller. Joe Foty with Prospect Commercial represented the seller. THEATER DEVELOPMENT Star Cinema Grill has started construction on a 12 screen theater in District West located at 22125 FM 1093 which is scheduled for opening fall 2019.

STAFFORD, TX INDUSTRIAL SALE Direct Capital sold a 25,000 sf building in Freeport Southwest Business Park to a local private investor. Jason Tangen with Colliers represented the seller & Patrick McKiernan with First Houston Properties represented the buyer. OFFICE SALE Houston-based Pioneer Exploration LLC purchased the 4100 sf building located at 3501 Allen Parkway & plans to move its headquarters to the building. Austen Baldridge & Brad Elmore of NewQuest represented the buyer, & Mark Nicholas & Cliff West of JLL represented the seller, Canret LLC.

TOMBALL, TX INDUSTRIAL DEVELOPMENT Nickson Tomball Industrial Ltd purchased 6.1 acres on Spell Circle in Tomball Business & Technology Park for the development of 56,000 sf in two buildings. Tom Condon, Jr with Colliers represented the seller, Tomball Economic Development Corp.

classifieds & index

ADVERTISER INDEX AA Realty Company 25

Greenberg & Co. 13

ABC Realty Advisors 19

Hankamer Commercial Brokers, LLC 18

Abraham & Company 26, 27

KW Signature 11

ACRP

Koontz Corporation 11

Berkadia 2, 3

La Marque Economic Development Corp. 17

Caldwell Cos. 7

National Environmental Services, LLC 43

Capital Retail Properties 1, 5

Oldham Goodwin Group 13

City Bank Texas 44

Phase Engineering 30

City of Seabrook 8, 9

Plus Corp Photography 18

Equity Secured Investments 15

Retail Live! 18

First Warrant Realty 11

Showalter Law Firm 15

Gordon Partners 22, 23

Waller County EDC 19

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North Texas CCIM Chapter

JULY 2018

Summer Special! 50,000+ PRINT & DIGITAL DISTRIBUTION

Month

Market Focus & Sub Focus

January

Vacant Land / Texas Growth Areas Industrial & Retail Recaps

Dec 11, 2017

February

Office / Industrial / Retail Trends & Hot Spots

Jan 12, 2018

- RECA KnockOut Night - CCIM Forecast Competition - BOMA Southwest Region Conference

Retail / Vacant Land / Texas Development Texas Economic Development

Feb 12, 2018

April

Vacant Land / Industrial Industrial Hot Spots

Mar 13, 2018

May

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Retail Recap Texas Economic Development

Land / Texas Development Opportunities September Texas Economic Development

May 14, 2018

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June

Jun 13, 2018

Jul 13, 2018

Aug 13, 2018

Industrial / Office Service / Land Industrial Hot Spots

Sep 12, 2018

November

Retail / EDCs Texas Economic Development

Oct 12, 2018

December

Vacant Land / Retail ICSC Recap Texas Economic Development

October

- Retail Live! Austin - NTCAR Expo - TABB State Conference -"Texas A&M MCE

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Nov 12, 2018

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level of service, Al Ross Sign Group will quickly rise to the top, not only in

Al Ross, CEO

Houston, Texas, but across the country.

Expect the best! Contact us today to learn more about what we can do for you!

713.661.1500

alrosssigngroup.com