REDNews March 2018 Central South Texas by RE Journals

MARCH 2018

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Inside:

The Amazon Effect Keeping Up With Kristen Keep Hustling Fort Worth is Making a Retailers Adapt to Berkadia's McDade Changing Environment Locks Up Land Deals Name for Itself

17700 HUFSMITH KOHRVILLE TOMBALL, TEXAS 77375

±9.89 acres located on the east side of Hufsmith Kohrville, just north of Spring Cypress Rd. ±253’ of frontage along Hufsmith Kohrville Road, with easy access to Highway 249 and the Grand Parkway via Hufsmith Kohrville

22235 I-45

SPRING, TEXAS 77389 ±49,475 SF of land with a ±2,250 SF building, located along the west side of I-45 North (southbound side) at the Spring Stuebner Loop ±275’ I-45 frontage, located less than two miles from the ExxonMobil Campus, just south of The Woodlands and 20 miles north of Downtown Houston

25229 ODAY ROAD PEARLAND, TEXAS 77581

±4.75 acres of land located just north of FM 518, in Pearland, Texas (Brazoria County) Site includes one curb cut and ±214’ of frontage along Oday Road

KRISTEN MCDADE Senior Director T: +1 713 469 4509 kristen.mcdade@berkadia.com

LAUREN GEARY Marketing Coordinator T: +1 346 444 8968 lauren.geary@berkadia.com

MATT DAVIS Analyst T: +1 346 444 8961 matt.davis@berkadia.com

© 2018 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estat by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mo com/legal/licensing.aspx

FM 1960 & WELCOME LANE HOUSTON, TEXAS 77014

±9.94 acres of land, located directly on FM 1960/ Cypress Creek Parkway No pipelines, access or other easements bisecting the tract No zoning

MORTON ROAD KATY, TEXAS 77493

±75 acres with access from both Morton Rd. and Katy Hockley Cut Off Currently being annexed into MUD 536 Katy ISD Property lies within Houston ETJ

FT. BEND TOLL RD. & MCHARD RD. HOUSTON, TEXAS 77489

Tract 1: ±8.9 acres at the hard NWC of Ft. Bend Toll Rd. & McHard Rd. Tract 2: ±11 acres at the hard NEC of Ft. Bend Toll Rd. and McHard Rd. Properties lie within the City of Houston and in Ft. Bend County

For current listings, please visit www.Houston.BerkadiaREA.com or scan our QR code:

te brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively ortgage LLC under CA Finance Lender & Broker Lic. #998-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.

IN THIS ISSUE

18 24

Market

Sales & Leases 1 – 3, 5, 7 - 9, 12, 13, 15, 17, 19, 21-23, 25, 29

Services

Environmental Services 30, 43 Photography 29 Real Estate Loans 12, 27, 44 Tax Advisors 27 Title Services 27

Scoop

Events 25, 32-37, 42 Social 33, 35, 37 Bulletin 38 – 40

Features

Keeping Up With Kristen 10, 11 The Amazon Effect 14, 16 Fort Worth Keeps Hustling 18, 20 Ray's BUZZ Forecast Competition 24 - 26 CIVIL FAIR PLAY Property Tax Changes 24 - 26

March 2018

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Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITERS

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

Dear Readers,

Here we are sailing through the first quarter of 2018 and according to Dr. Mark Dotzour, the keynote speaker at the CCIM Houston Forecast Competition, we can expect clear sailing throughout this year in terms of business and commercial real estate.

Tax cuts have a big influence on the economy and Paul Bettencourt reminds us that property taxes represent approximately 40% of total business taxes and that the property tax deadlines have moved up two weeks this year due to tax code changes. (page 26)

CONTRIBUTING WRITERS Paul Bettencourt

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

I had an opportunity to visit with Kristen McDade, Senior Director of Berkadia’s Land Division, several weeks ago and she is one awesome lady. Mark my words that she will carry on the land legacy that her Dad, Bill McDade, started! (pages 10,11)

SALES

Next month we’re looking forward to Texas A&M Real Estate Center’s Outlook for Texas Land Markets conference in San Antonio on April 26th – 27th (page 42) and if you’re an apartment investor, be sure not to miss Cushman Wakefield’s Global Multifamily Investment Summit on April 3rd – 4th . (page 25)

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

Happy St. Patrick’s Day!

TOTAL QUALIFIED REDNews DISTRIBUTION: 50,458

It’s interesting to note that Artemio De La Vega, one of the Development & Construction panelists at Texas ICSC’s 2018 Retail Forecast, acknowledges that no one really knows exactly what’s coming in terms of the retail industry, but everyone agrees that change is going to happen in terms of the “Amazon Effect”. (pages 14, 16)

Best Regards,

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.

REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription.

Ginger Wheless

2537 S. Gessner, Suite 126 Houston, TX 77063

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Keeping Up With Kristen Berkadia's McDade locks up land deals

BY BRANDI SMITH

“You can almost feel the energy bubbling up!” says the Senior Director of the Houston office. “There are lots of calls on sites, offers are flying around and deals are coming together -- and with realistic speed (which has been lacking for the past 24 months).”

Kristen McDade

If success in the commercial real estate industry is based on outlook and attitude, Berkadia’s Kristen McDade is going to have one heck of a 2018!

Throughout 2017, McDade says she felt as though she was in transition. The University of St. Thomas grad only just made the move from CBRE to Berkadia late in 2016, coming on board to lead the Land Services team. “As we started to map Berkadia’s path forward in Houston, we recognized the need for someone with expertise in land brokerage,” says Ryan Epstein, Senior Managing Director. “Kristen’s exceptional knowledge of the Houston market, robust relationships and acumen in all aspects of site acquisition make her the perfect fit for our growing team.” McDade says her first priority was rebuilding her inventory, but she noticed that buyers were slow moving. “They weren’t quick to pull the trigger and were much more cautious,” she says of buyers in the 2017 land market. “It felt very pensive to me.” Then Hurricane Harvey hit, drowning parts of the Houston market in feet of water. “That certainly threw a wrench into the mix,” McDade says. “There was a definite pause for a good three or four weeks while everyone rallied getting their home situations and property situations sorted.” After that, she says, the commercial real estate industry in Texas did what it does best: it bounced back.

March 2018

“It was business as usual,” says McDade. “Coming into the end of the year, there seemed to be a shift. Calls and activity increased. Sellers were ready to sell and buyers were about ready to make offers!” McDade, who is part of what is now a Houston CRE legacy, learned the ropes from her father, Bill McDade. She started her real estate career at his side as part of McDade, Smith, Gould, Johnston, Mason + Company back in 1999. For 16 years, she absorbed all she could from the man who brokered or co-brokered more than $1 billion in deals over his 57-year career. “He and I are so much alike, I wasn’t sure it would ever work,” she told REDNews in 2016. “We worked in one big office with four of us in the room: Bill, [my sister] Tricia Pogue, our admin and myself. He wanted us Ryan Epstein all close so we could hear everything and learn that way.” Bill coached her on how to be a good broker, including when to listen and when to speak. He taught his daughter to pay attention to the news and read the newspaper. ‘There is a deal in the paper every day,’ he told her.

The most important lesson she took away from her father, McDade says, was how important integrity is in this field. “He taught me to always be honest, straightforward and respectful,” she says. “As a result, clients know they can trust me.”

William "Bill" McDade

Kristen joined Bill for a time at CBRE, where she served as Vice President, specializing in brokering land transactions for buyers and sellers. Not long after he “retired” (“He’s still working from his home office,” she laughs), she made the move to Berkadia.

“Privately held, Berkadia has the reputation and capabilities to allow me to excel as a land broker with unlimited possibilities,” McDade says. “Berkadia’s core values align with my own: integrity is everything, look at the long term, people and relationships matter most and continually strive for excellence.” Picked to lead the Land Services team, she’s integral in developing the Berkadia Land Services team platform that’s used throughout the country. She’s also a member of influential groups such as the Greater Houston Partnership, Katy Area Economic Development Council, Houston Association of Realtors, CREW and CREN. Pushing two decades in the land business, her client list is now a who’s who of industry: The Finger Companies, JP Morgan Chase, SYSCO

Foods, Ersa Grae, The Welcome Group, Lehman Bros., Patriot Bank, Lincoln Property Company, Johnson Development, Mission Equities, Davis Development, Fairfield Residential, Cypress Real Estate Advisors, KKB Homes, Avanti Properties Group, Parkside Capital, Public Storage, St. Luke’s Methodist Church and Trader Joe’s. Many of those clients and others are on the hunt for property in the Houston market, McDade says. “They were there last year, but without the urgency that they have now,” she says. “They have been given the green light and they clearly do not want to be left out this cycle.” She’s seen interest from multi-family developers, particularly those who have not built in our

“For well-located corners and small sites on good roads, the activity is very strong.” - Kristen McDade

marketplace or have not for quite some time. They’re hungry for good sites with strong demographics and good schools. If detention and utilities are already sorted, that’s a bonus, says McDade. “Buyers are anxious to get to sites!,” she says. “They are all about suburban sites as the Inner Loop is pretty well covered with multi-family and condos for the moment.” Retail sites are also a hot commodity right now, according to McDade. “For well-located corners and small sites on good roads, the activity is very strong,” she says. As an example, she cites the response to a retail property in Northwest Houston that she advertised in REDNews. “Our signs went up on the property the same day and within a week we had nine offers. Some pushed well over the asking price straight out of the gate,” says McDade. “I never blasted the property. This proves that a well-located site with good shape and good size still gets people excited!” With barely a quarter under her belt in 2018, she is confident this year the land market will see the payoff that bubbled under the surface in 2017. “Your readers should keep their eyes on my ads in REDNews. We have something new every month!” March 2018

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The Amazon effect How retailers are adapting to the rapidly changing environment BY BRANDI SMITH

The one constant about the retail industry is that it’s constantly changing, though experts in the field acknowledge that the current pace of change is unlike any they’ve seen in their careers. “I feel like things are accelerating right now,” says Artemio De La Vega, president and CEO of De La Vega Development, who was one of the Development & Construction panelists during ICSC’s 2017 Texas Retail Forecast. “As for the number of groups that are reinventing themselves and adapting to the changing times, it's probably the most substantial shift I've seen,” adds Ryan Johnson, co-market leader at SRS Real Estate Partners, who moderated the retail panel during the forecast summit. “That’s why it's a fun industry to work in. You have to be on top of your game. You have to know what's happening in the markets. You have to know what consumers want. That’s what I love about retail.”

The shift was a hot topic during ICSC, which De La Vega asserts has always been proactive about looking to the future. “I don't think any of us really know exactly what's coming, but we can all agree that change is coming,” he says. “We may disagree on how and what's actually going to happen, but I think we can all agree that it's going to be different.”

Adapting to Amazon A significant factor in that change has been the socalled “Amazon Effect,” the disruption caused to the traditional retail landscape by the online giant. “[On the panel,] I focused on what we're doing as it relates to incorporating elements that would help the future trend for the newer generations and what they look for,” says De La Vega. “Given millennials and other generations that are coming, their habits with the

iPhone and embracing technology are different than what we've seen in the past.” One way retailers are adapting to the increase in online competition is by offering something consumers can’t find on the internet: services and experiences. “There is more of a focus now on high-growth, serviceoriented retailers that are more internet-resistant given the retail transition that we're going through,” De La Vega says. “Developers are kind of looking for those tenants who are surviving in this environment.” He points to discount chains, such as Burlington, Ross and TJ Maxx, as examples of “treasure hunting” for customers. Those types of retailers, says De La Vega, are thriving, compared to the standard box stores.

Interpreting interactions Beyond the mix of retailers, developers like De La Vega want to create interaction in ways that are unavailable online. “We’re rethinking how we're planning our projects,” he says. The priority now, especially in mixed-use projects, is creating different levels of interaction, those that are planned and casual. “I think that humans crave interaction now more than ever because of the internet,” says De La Vega. “A lot of people are dating online now; we're even grocery shopping online; we're doing everything online. The more we do, the less face-to-face interaction we have.” He says casual interactions can be generated by combining hotel and restaurant traffic in a development. Planned encounters take a bit more finesse.

March 2018

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“You have people who live there visiting retail, where they just kind of hang out and they meet,” De La Vega says.”We’re creating projects where we integrate retail as kind of the sizzle in a project. The retail in a large mixed-use project helps bring that whole fabric together. People can just live, hang out and have faceto-face encounters.” He adds that’s not just of interest for singles who’d like to meet new people, but could be as simple as a play area for kids that brings area parents together.

Eating up demand Restaurants are also an important component in these cultivated environments. An experience in an eatery is one that can’t be replicated online. “There's no doubt that landlords are flocking toward internet-resistant concepts. Food generally falls in that category, although there are continual changes even in that department,” says Johnson, mentioning the increased use of food apps, online ordering and grocery delivery. “There are a lot of things that are even impacting that component of it, but I do think entertainment and restaurants will be one of the highlights going forward.” Wall Street, Johnson points out, has invested in restaurants, forcing their growth. That, he says, is a kind of double-edged sword. “Unfortunately, a lot of times these groups are opening restaurants that don't really need to be opened,” he says. “That ends up hurting a lot of people, so there's going to be some winners and losers.” Johnson says some markets, Dallas included, are becoming what he calls “over-fooded,” a situation in which there are too many seats. That issue was discussed during the retail panel he moderated at ICSC, which included representatives from Alama Drafthouse, Corner Bakery, Shake Shack and Eatzi’s. 16

March 2018

“Some of our panelists said 2017 was the first year they started to see some declines in their sales,” says Johnson. “One of the taglines from Holland Burton, Corner Bakery’s vice president of real estate, was ‘flat is the new up.’ So 2018 may be a flat year for a lot of restaurants, purely from a competition standpoint, but that's OK.” Another obstacle for the modern restaurant industry in Texas is labor. “It’s a very challenging aspect of their business and it is getting more difficult to hire not only good talent, but to pay for it,” Johnson says. “It was interesting to hear how it is now even impacting their site selection.” Johnson referenced a comment from Bill Digataeno, COO and owner of Alamo Drafthouse, who discussed how Dallas/Fort Worth is the most competitive movie-eatery market in the country. Despite that, Johnson says Digataeno is very bullish on DFW and believes there are more opportunities for him to expand there. That sentiment was echoed by some of the other panelists, who suggested that despite the competitive restaurant market, so many new jobs are coming to the DFW area that it is still a great place for eateries to expand. “They’re just going to do it cautiously,” Johnson adds.

Innovate or go industrial The old saying goes, ‘If you can’t beat ‘em, join ‘em’ and that’s just what some retailers are starting to do to compete with the likes of Amazon. “Amazon has filed a crazy number of patents and Walmart is starting to do the same,” says De La Vega. “I think retailers are starting to get into that game and they are realizing that they've got to jump in.” He suggests it’s likely that we’ll see more retailers enter that arena and be a part of the change. It’s unclear, he says, what that will look like. “I think you are going to see other retailers that are in the market today come out with exciting ideas,” De La

Vega says. “I think they are going to jump in and be a part of the change.” Innovating, he insists, should be the priority of any retailer today. Citing Toys ‘R’ Us, De La Vega explained the danger of focusing on anything else. “A private equity firm bought the company and just loaded it with debt. They’re so focused on financial engineering that they don't leave a lot of room for innovation,” he says. “Failure to adapt means the strong survive and the weak perish. I think that's what we're going to see.” While some retailers thrive, others are falling victim to the changing landscape, resulting in new opportunities in commercial real estate. A trend that is already emerging is an evolution from traditional retail to industrial. “In Dallas-Fort Worth, there is great demand for shallow-depth space for local businesses,” De La Vega says. He gave the example of a sign contractor who needs a combination of showroom and warehouse space. “Landlords probably aren’t going to get top rent for that kind of property, but you can definitely get midteens,” notes De La Vega. He suspects class-A strip malls will continue to do well because of their tenant mix, which is often loaded with service tenants. Those retailers, De La Vega reiterates, will always need space because their offerings can’t be satiated online. “It’s the class-B properties that will probably switch to more warehouse-industrial use,” he says. In an industry built on change and evolution, now more than ever, retail CRE professionals are prepared to do what it takes to survive, a stance emphasized at ICSC. “I thought it was a good forecast overall,” says Johnson. “There’s continued positive sentiment from developers, retailers and finance.”

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"We've got to keep hustling" Fort Worth fights to make a name for itself BY BRANDI SMITH

They don’t call Dallas ‘Big D’ for nothing. It tops lists like Forbes’ “Best Cities for Jobs” and “Best Places to Invest in Real Estate” or HousingWire.com’s “Best Real Estate Markets in the U.S.” It is the shining example of growth and development in North Texas. Therein lies the challenge for the city that could be considered Dallas’ little sister: Fort Worth. The seat of Tarrant County, Fort Worth is the 16th largest city in the country, but its glow is often muted by the spectacle of big sis, Big D. At a recent conference on economic development, local government and economic leaders acknowledged visibility is a challenge. “From a visibility standpoint and an informational standpoint, people just aren’t aware of us as a community,” said Robert Sturns, the city’s economic development director. He cited a recent study that revealed, when asked to rank the Top 50 cities in the country, people on average put Fort Worth at 49 instead of its strong position at 16.

The city’s EDC and chamber of commerce have spent years working on a strategic plan to elevate Fort Worth’s spot in the national conversation. “This is the year we stop talking about this strategic plan piece and we actually start implementing it,” said chamber executive vice president of economic development Brandom Gengelbach. The chamber’s vision is to “drive the Fort Worth region to be the most thriving, inviting community for all.” “The ‘thriving’ is about the business piece: attracting business, growing jobs from within the entrepreneurial community. ‘Inviting’ is about the quality of place piece. It’s about making sure we are an attractive community to bring in people from the outside and keep our people here,” Gengelbach said. The challenge lies in the business part of that plan right now. Fort Worth, Sturns said, has great residential activity.

“We’re just not seeing the job growth that goes along with that,” he added, suggesting that people commute from Texas’ fifth largest city to jobs in other North Texas communities. That could change in 2018, according to Drew Kile, senior vice president of investments for Marcus & Millichap’s Dallas office. “I think we’re going to beat 80,000 jobs [this year],” he said during his forecast on the apartment market. “I think with projects like Charles Schwab, Liberty Mutual, Toyota, GM, there’s a lot that’s banked. It’s already coming, but a lot of those jobs haven’t shown up yet.” Another 2018 trend Kile predicted is a rise of the so-called urban village. He said currently Fort Worth is embracing the pockets of mixed-use developments with more frequency than Dallas. He also has his eye on the North Fort Worth and Mansfield areas, where he anticipates a boom this year. “[It will be] primarily driven by improved connectivity from the highways. TX-360 will be done in the next three months, getting you down from Mansfield much more efficiently,” Kile said. “That’s going to drive retail development there. That’s where a lot of apartment development has been.” The office market is also facing some challenges, according to Matt Montague, JLL vice president of tenant representation for office, industrial and land transactions. He’s quick to label those challenges “opportunity,” During his presentation, Montague pointed out market attrition and low attraction in the area, which is only home to two Fortune 1,000 company headquarters. It lags behind ‘peer’ cities in almost all categories, he

March 2018

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"We've Got To Keep Hustling" Fort Worth fights to make a name for itself

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said, adding that there’s a loss of balance between urban and suburban investment. “My general theme would be we’re stable, we’re positive, we’re in a good place. As we compare ourselves out of Fort Worth, we have work to do,” he said. One segment in which the city appears to shine is retail, which Jessica Worman of M2G Ventures called “alive and well.” The key, she asserted, is being adaptable. “To get people to relocate their corporate headquarters, bring millennials here, to get that workforce, to get that quality of life, we have to give them places to go and shop,” she said. Different developments in the city are doing just that. But, when they do, Worman said it’s important they keep a couple emerging trends in mind. Those include bringing in first-to-market retailers, offering experience-based retail and providing space for incubators and pop-ups. “We’ve all seen a lot of [incubators] open. ShopSmall Fort Worth has done several markets, 411 has done several markets,” Worman said. “You see a lot of popups happening.” As for the importance of new retailers, she pointed to the Clearfork development as an aspirational example. More than 75 percent of its retailers and restaurateurs that have opened since Jan. 1, 2017 are the first in the market. “That’s huge,” she said. Other trends Worman highlighted include first-class entrepreneurial start-ups, developer focus on quality retail, chef-driven restaurants, co-working and creative space, public art, retail with purpose and value-oriented retail. On that last point, she highlighted the Fall 2017 opening of Tanger Outlets, the first outlet mall in the Fort Worth area, featuring more than 70 stores. In 2018, she expects significant retail moves in the Cultural District, Near Southside, Stockyards, Downtown FW, SW FW and University neighborhoods. 20

March 2018

“We’ve got to keep hustling. There are going to be more young professionals who will take advantage of the white space,” said Worman. “You’re going to see more interesting things happen, more concepts coming to the city.” One of the developments she referenced as her company’s “baby” is The Foundry District, which cultivated 14 new tenants since the beginning of 2017. “You have a lot of people in the city who are gravitating toward something that’s a trend everywhere else: warehouse conversion,” she said of The Foundry’s draw. “They like the juxtaposition of old and new.” For professionals focused on retail commercial real estate, Worman says change will be the only constant. “The modern consumer will keep changing. Every year will be a reinvention,” she said. “[In] 2018, constant reinvention is the new normal.” The onus isn’t just on retailers, however. Worman points out that residents of Fort Worth bear some of the responsibility of supporting the industry. “As a city, now that we’re on the map in terms of retail and food and beverage dining destinations, we have to shop. We have to support the local business,” she said. “The local business in this case doesn’t necessarily mean that Neiman Marcus isn’t a local.” It’s no secret that e-commerce has significantly altered the retail landscape. It’s also having an

interesting side effect on the industrial market, according to Hillwood’s Tony Creme. “Every $1 billion of ecommerce sales requires 1.2 million square feet of industrial product,” he said. “I think this is a big reason the industrial market has been hot for so many years and will continue that trend going forward.” As the number of online transactions ticks up, the need for distribution and data centers only grows. Hillwood is capitalizing on this, converting 350 acres planned for industrial use to data center land. “We can build about 400 megawatts of data center power. Just to put that in perspective, the entire DFW data center market is about 400 megawatts,” Creme said. “We see a lot of potential in this new market.” Though he predicts industrial deliveries will outpace absorption this year (“I hope I’m wrong,” he said), Creme also anticipates a 1-million-square-foot deal in Fort Worth in 2018. He said he’s also keeping an eye on south Fort Worth, where he expects more new developers. “I’m very, very bullish on south Fort Worth,” said Creme. “I think it has a lot of potential. A lot of developers put their money where their mouths are and started building new buildings.” It’s clear it will take more than a single stellar year to fight its way out of Dallas’ shadow, but CRE experts in Fort Worth seem confident the city will soon be able to shine on its own.

INSIGHT | KNOWLEDGE | EXPERTISE LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT

TOWNHOME DEVELOPMENT SITE – For Sale

SPRING BRANCH SUBMARKET

MARKET STREET OFFICE SPACE - For Lease

THE WOODLANDS

WOODLANDS SUBMARKET

Silber Rd. & Purswell St., Houston

9595 Six Pines, The Woodlands

285 Ed English Dr., Shenandoah

• 27 Platted Townhome Lots • 1.17+/- Acres for Multi-Family/Residential Development • $2,375,000 – Make Offer

• Class A Office space above 400,000 SF of Luxury Retailers, Cinema and HEB Gourmet Center • 3 Spaces Available – 3,355 SF, 2,017 SF and 1,537 SF

• Ideal for Professional, Medical and “Showroom” Tenants • 2,184 RSF for $22.00 NNN • Visible from I-45

WOODLANDS SUBMARKET

THE WOODLANDS

121 Vision Park Blvd., Shenandoah

NWC of FM 1488 & Wedgewood, Magnolia

4840 W. Panther Creek Dr., The Woodlands

• Near CHI St. Luke’s Health, Texas Children’s, MD Anderson, Texas Methodist & Memorial Hermann-The Woodlands Hospital Campuses

• Commercial Development Opportunity

• 97% Leased Medical Office Building in the Heart of The Woodlands • 30,363 SF, 2-story, Steel & Brick Construction with Atrium on 2.5 acres

THE WOODLANDS

WOODLANDS SUBMARKET

LAND/RV PARK – 19.82 Acres For Sale

WOODLANDS SUBMARKET CLASS ‘A’ SPACE - For Lease

Westgate Crossing Research Forest Drive & Egypt Lane

28323 FM 2978 Timber Ridge RV Village, Magnolia

Havenwood Office Park 25700 I-45, Spring

• 60,000 SF Retail & Professional Office • Restaurant & Retail Pad Sites Available • Located on main corridor adjacent to regional power center with national retailers

• Unrestricted with 218 feet on FM 2978 • Less than 1 mile from The Woodlands

NEW MEDICAL OFFICE SPACE - For Lease

• Major Retailers nearby are HEB, Kroger, Target, Starbucks • ½ mile west of the FM 2978/FM 1488 intersection

MIXED-USE DEVELOPMENT – For Lease

281.367.2220

DEVELOPMENT SITE – 7.1 Acres For Sale

jbeardcompany.com

RETAIL SPACE - For Lease

MEDICAL OFFICE BUILDING – For Sale

• 250,000 SF, 4-story, LEED Silver Certified Building • Full Service Fitness Center and Conference Facility

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

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.

new highway.

new development. TAYLOR LAKE

GRADE SEPARATION / UNDERPASS SAIL IN HORIZON State Highway 146 is being expanded in-Seabrook and we want you to be a part of the changing landscape. Prime highway frontage is now available, including available lots within our GALVESTON new TownBAY Center development that runs adjacent to SH146. Several parcels and lots are also available in our North Planning Real Area, Estate Old Seabrook District and our Available for Sale or Lease Waterfront District. Seabrook Town Center

<<HIGHWAY EXPANSION

NORTH PLANNING AREA THE

COMMONS

TOWN CENTER

TAYLOR LAKE

Available›Real forpad Sale RetailEstate and dining sitesor Lease

LAKE MIJA

TAYLOR LAKE

› 90 +/- acresBayport of primeContainer site adjacent to the Bayport Terminal Container›Terminal ARTFUL LANDSCAPE AMENITIES › Zoned Industrial/Office, Commercial Retail and and Residential

OLD SEABROOK DISTRICT

CLEAR LAKE

GALVESTON BAY

WATERFRONT DISTRICT

POPULATION

77,073

2017 Estimated Primary Retail Trade Area Population

SEABROOK TOWNgrocery CENTER › Seeking anchor › Retail andGALVESTON dining padBAY sites The Commons › Seeking grocery anchor › Borders a new 416 unit luxury apartment THE COMMONS complex › Borders a›new 416square unit luxury complex 30,000 feet apartment of retail space › 30,000 square feet of retail space North Planning Area NORTH PLANNING AREA › 90 +/- acres of prime site adjacent to the

Residential Old Seabrook District OLD SEABROOK DISTRICT › Beautiful and Historic Main Street Area › Beautiful and Historic Main Street Area › Mixed commercial and residential lots › Mixed commercial and residential lots Waterfront District WATERFRONT DISTRICT › › High traffic area with water views › Prime for dining and entertainment use › Prime for dining and entertainment use

HOUSEHOLD INCOME

$109,379 $81,272 $42,932 Average Household Income

Median Household Income

Per Capita Income

TAYLO

5” diameter

GRADE SEPARATION / UNDERPASS - SAIL IN HORIZON

GATEWAY TO THE CITY

your business belongs in seabrook GALVESTON BAY

GATEWAY/EPIC ART - ‘ 3b LANDSCAPE SCULPTURAL ‘SAIL’ AND “FLYWAY” THEMED INSTAL

SEPARATION / UNDERPASS - SAIL IN HORIZON 1a GRADE OPTIMIZATION OF TXDOT TOOLKIT : MSE WALLS, COPING, HARDSCAPE, DECORATIVE DETAILING, SAFETY LIGHTING INCREASE

LANDSCAPE AMENITIES: 2 ARTFUL SEABROOK THEMED ARTIFACTS IN A GALLERY-STYLE

Virgin Limestone 5” diameter Cost: 2x Crushed Conc

1 GATEWAY TO THE CITY

GRADE SEPARATION / UNDERPASS - SAIL IN HORIZON

DISPLAY @ NASA 1

Crushed Concrete 5” diameter

GATEWAY TO THE CITY

Virgin Limestone 12” diameter Cost: 2x Crushed Conc

GALVESTON BAY

GRADE SEPARATION / UNDERPASS - SAIL IN HORIZON

1a OPTIMIZATION OF TXDOT TOOLKIT : MSE WALLS, COPING, HARDSCAPE, GATEWAY/EPIC ART - ‘SAILWIND’ 3b LANDSCAPE SCULPTURAL ‘SAIL’ AND “FLYWAY” THEMED INSTALLATION DECORATIVE DETAILING, SAFETY LIGHTING INCREASE

OR LAKE

Crushed Concrete 12” diameter

Or Virgin Limestone 12” diameter Cost: 2x Crushed Concrete

LANDSCAPE AMENITIES GRADEARTFUL SEPARATION / UNDERPASS - SAIL IN HORIZON

ARTFUL LANDSCAPE AMENITIES:

1 GATEWAY TO THE CITY

SEABROOK THEMED ARTIFACTS IN A GALLERY-STYLE DISPLAY @ NASA 1

Crushed Concrete 5” diameter

ISLAND GATEWAY GATEWAY TO THE CITY / EPIC ART: ‘FLOCK’

*Crushed Concrete & Virgin Limestone available in: 3” x 5”, 12”, 18”, 24”, in diameter.

GALVESTON BAY

Or Virgin Limestone 5” diameter Cost: 2x Crushed Concrete

GATEWAY/EPIC ART - ‘SAILWIND’ 3b LANDSCAPE SCULPTURAL ‘SAIL’ AND “FLYWAY” THEMED INSTALLATION SITE INTEGRATED LIGHTING

Crushed Concrete 12” diameter Or

ARTFUL LANDSCAPE AMENITIES

Virgin Limestone 12” diameter Cost: 2x Crushed Concrete

The Seabrook Economic Development Corporation *Crushed Concrete & Virgin Limestone can give you and your investors segmentation available in: 3” x 5”, 12”, 18”, 24”, in data that provides a robust and powerful portrait diameter. of the 67 US consumer markets. The Seabrook consumer markets range from “Affluent Estates” to “Midtown Singles” to “Senior Styles”. Seabrook is no longer your average suburb. Give me and my staff a call and let us help you find the real estate to help meet your project needs. Paul Chavez

ISLAND GATEWAY / EPIC ART: ‘FLOCK’

Seabrook Economic Development Director

ISLAND GATEWAY / EPIC ART: ‘FLOCK’

ARTFUL LANDSCAPE AMENITIES

pchavez@seabrooktx.gov



281.291.5730

HIGHER EDUCATION

12.26% 24.24% 34.55% Graduate Degree or Professional

Bachelor’s Degree

Associate’s Degree or Some College



*Crushed Concrete & Virgin Limestone available in: 3” x 5”, 12”, 18”, 24”, i diameter.

Or Virgin Limestone 5” diameter Cost: 2x Crushed Concrete

Crushed Concrete 12” diameter

SeabrookEDC.com

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

CCIM COMMERCIAL REAL ESTATE FORECAST COMPETITION

KEYNOTE TALK:

MULTI-FAMILY:

LAND:

INDUSTRIAL:

Dr. Mark Dotzour

David Schwarz, Moderator-ARA Newmark; Stacy Hunt, Greystar; Swapnil Agarwal-Competitors

Elizabethn Clampitt, Moderator- JLL; Keith Edwards, Caldwell Companies; Tommy LeBlanc, Avison YoungCompetitors

Jeremy Garner, Moderator-Trammell Crow; Stephen Hazen, Lee & Associates; Alexander Reilly-Competitors

Bullets: • Should be clear sailing ahead in 2018 for Houston businesses • Texas is an economic miracle • The four largest Texas cities are also the top four in U.S. for domestic in-migration • Texas’ and Houston’s leading economic indicators remain on an upward curve • With no fiscal restraint shown in recent tax law change, inflation and higher interest rates are a threat and will not be good for CRE; there is no lid on debt in Washington any more, and deficit hawks have been forced to take a ‘back seat’ • Avoid CNN, Fox News, and MSNBC for any factual news: they are mongers of partisan propaganda and gossip and they are only cheap ‘advertising sellers’ • Small business confidence levels are high • Now is a good time to expand, as per recent surveys

Takeaway: Inventory overhang was temporarily absorbed by people displaced from their homes and apartments by Harvey, but people are moving back home, with some staying in apartments. Remaining inventory due to be slowly absorbed by projected job and population growth in Houston market. Bullets: • Area contractors are super busy repairing damaged ground floor apartments-labor is scarce • Absorption in ’18 & ’19 should pick up, and these should be strong years for MF • Flood insurance issues are big, both from lender demands and investor demands-the insurance market is in turmoil trying to price future coverage-premiums are creeping up in the 10-20% range, and more since hurricanes and wildfires caused big claims nationwide • New tax laws take away some of the incentives for home buying, which may give a boost to apartment occupancy • MF is one of the most attractive segments for investors, and a lot of cash is sitting on the sidelines in funds; look for deals and yield • Looking forward after 2018, supply looks to stay under control and owners may see 5-6% rate growth

March 2018

• Many suburban areas are hot for MF, and inside the urban core developers are looking for the ‘awesome site’, although inside the Loop new MF will have to compete with existing properties still offering free rent and other amenities

Takeaway: Lots of activity in the far suburbs for industrial and residential land, although it is hard to find land ‘ready to use’, and the costs for permitting, bringing utilities, and all other pre-development are getting higher and taking longer. Bullets: • Katy, Waller, the Port district, Crosby, the Northwest: all active markets • ECommerce is driving strong demand for warehouse space, and so is the pick up in drilling activity, as supply, service, and manufacturing companies expand to meet demand • With new residential communities comes demand for retail, and some retail developers are buying up commercial reserves many years before they actually plan to build centers on them • Industrial is moving farther out, like to Waller, Conroe, and Sealy • There was a lull in land activity at end of 2017 but now market is heating up again • As more land is covered with impermeable surfaces, the need for retention ponds increases, and this drives up cost of usable part of sites

Takeaway: High occupancy and high demand in this segment of CRE; investors chasing leased up deals. Bullets: • All sorts of users abound: ecommerce, furniture stores, grocery chains, oil & gasrelated industries • Developers are scrambling to catch up with high demand • Occupancy in 94-95% range • Landlords negotiating with tenants on tenant improvements, which can be costly, and adjusting rents accordingly • This segment not affected much by Harvey • Industrial landlords extremely bullish on Houston

RETAIL:

OFFICE:

Lilly Golden, Moderator-Vista Private Equity Group; Micha van Marcke, Transwestern; Christie Amezquita, Read King-Competitors

Evelyn Ward, Moderator-Transwestern; Bob Parsley, Colliers International; Paul Frazier, Hicks Ventures-Competitors

Takeaway: Nationally, media are saying retail is in apocalypse due to eCommerce, but this is not really the case, especially in Houston, where new concepts snap up recently vacated retail lease spaces. Many new and innovative tenants are taking retail space, for medical, entertainment, and other uses Bullets: • There are few vacated retail spaces which are not immediately recycled in Houston • Over a five year lease term, the various operating costs to tenants are making their operations costlier than they assumed when they first signed their leases • Some new tenants with non-traditional businesses are difficult for landlords and lenders to underwrite, since they are an unknown quantity • Some spaces now contain dancing, DJs, and live music every night, taking advantage of large parking availability • People like to live, play, and shop all near their residences…retail strips not near rooftops have some challenges • EaDo is a new hot area for retail, as gentrification brings more residential density

Takeaway: Occupancies overall in 79-82% range, with some positive absorption in 2017. This segment is not out of the woods yet. Bullets: • Many older buildings are being renovated with whistles and bells added to be able to compete with new Class A space • Workplace environments and tenant demands are changing, and it is up to landlords to keep pace with today’s tenant needs • Recent boosts in oil prices have not yet resulted in new leasing by the oil industry • Very little new supply in the pipeline • Less than 7% of office supply was affected by Harvey flooding, and that which was is mostly back in operation

civil fair play

2018 Texas Property Tax Deadline Change BY PAUL BETTENCOURT

Protesting your property taxes every year offers a great opportunity to save money. In Texas, property taxes represent approximately 40% of total business taxes. This is a large component of expenses that can be challenged and changed. It is important to note that key property tax deadlines have moved up two weeks because of tax code changes passed during Texas’ 85th legislative session. Two deadlines critical to keep track of are:

April 1st Rendition Filing Deadline Renditions must be filed annually on any Business Personal Property (BPP) located in Texas. BPP can include computers, furniture, fixtures, vehicles, and inventory. 10% penalties on your property taxes will be incurred if Business Personal Property tax renditions, or extension requests, are not filed by April 1st.

May 15th Property Tax Protest Deadline Protests for Business Personal Property and Real Estate Property must be filed by May 15th (or, 30 days from the postmarked date on the “Notice of Appraised Value”) to be able to fight your property tax valuations in hearings at your local appraisal district.

March 2018

When approaching property tax valuations in any market, it is important to know all the ins and outs of the Texas Property Tax Code. Applying the right exemption or using the right depreciation

schedule can make a big difference in the size of your property tax reduction. You must meet these deadlines to be able to fight for lower property tax valuations. Remember, every million dollars in aggregate appraised value reductions generally generates approximately $25,000 in property tax savings.

Paul “The Taxman” Bettencourt, President/ CEO of Bettencourt Tax Advisors, LLC (www.btanow.com), has an experienced state licensed senior property tax team with over 250 years in the industry and has invested in state of the art technology to support property tax reductions for our customers.

REAL ESTATE

CommercialServices@btanow.com

Bettencourt Tax Advisors, LLC Full-Service Property Tax Solutions

SIGN-UP TODAY! Beat the NEW Property Tax Deadlines! Rendition Filing Deadline: April 1st Property Tax Protest Deadline: May 15th

     Paul “The Taxman” Bettencourt President, CEO

 

A+

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Property Tax Experts in Retail, Office, Medical, Industrial, Land and more Senior Property Tax Consultants with National CMI and ASA certifications Proprietary GIS Mapping and Property Tax Appeal packages for hearings Forensic Analysis of your properties Experienced Litigation Management and Arbitration Teams since 2011 We beat the competition on Reductions Best Property Tax Team in the business!

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Contact Mike Schofield Business Development

A Name You Can Trust

PRIVATE LOANS

(713)263-6140

mschofield@btanow.com

Equity Secured Capital Texas Direct Private Lender Close in 7 Days • Only 1% Fee www.equitysecured.com 512-732-8338

EXPERTISE PRECISION

TRUST

RESPONSIVE INTEGRITY

At First American Title National Commercial Services, we choose our team wisely. That’s why we’re excited to announce that Patrick Shields has joined us as Texas Operations Manager. With an office in the heart of downtown Houston, Patrick will manage commercial title business in Texas and throughout the nation. Patrick has served as a commercial manager and underwriter for 25 years, with title experience both in the United States and Canada. Patrick holds a Juris Doctor from Widener University’s Delaware Law School.

First American Title National Commercial Services More than a title insurer. Your business partner.

713.850.0455 713.850.0455 www.firstam.com/ncs www.firstam.com/ncs qq

Experience the difference trust can make.

Entertainment District ,17(567$7( *5$1' 3$5.:$<

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16,000 Seat Amphitheater

Pre-Leasing Multi-Tenant Office Buildings

55-acre Entertainment District due East

Cinemark Theatres Now Open

Entertainment District Coming to Life in Valley Ranch Town Center The Signorelli Company is proud to announce that the first anchor of its planned Entertainment District, a 40,000 sq.ft. NextGenÂ® Cinemark Theatre, is now open in Valley Ranch Town Center. The 55-acre Entertainment District is a critical part of the Town Center, blending an entertainment component into the massive mixed-use development with retail, office, multi-family and dining. The district is book-ended by the Cinemark Theatre on the west side, and a planned 16,000 seat capacity amphitheater for concerts and performing arts on the east side of the district. A waterfront boardwalk will connect a variety of themed restaurants, all with shaded patios overlooking one of seven serene

lakes in the Town Center. Pre-leasing is underway for the first two multi-tenant office buildings totaling approximately 120,000 square feet with expected delivery of space in early 2019. The Pointe at Valley Ranch Town Center has broken ground on the first phase of 336 units, with the first units to open by 4Q18.

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Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • Former small church with apartment 1/3 Acre - Clarewood @ Atwell - Houston • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services 40 Years Experience As Hotel Developer, Owner/Operator and Commercial Broker Hospitality Consulting Services Ray Hankamer, Jr 40 Years Experience As Developer | Owner 713.922.8075 | Operator

rhankamer@gmail.com / www.hankamer.com

H &

(713) 789-7060 www.hankamer.com

GReenberg & Company

Brokers: Ray Hankamer, Jr., Pablo Szub,

Commercial Real Estate Brokerage Firm

Retail Space Available| Great Locations PRIMARY HARD CORNER

GREENWAY PLAZA

PRIMARY HARD CORNER

9703 Westheimer Rd | Houston TX 77063

3815 Richmond Ave | Houston TX 77057

8104 SW Freeway | Houston TX 77074

RETAIL | BANK | MEDICAL | DRIVE THRU • Great Visibility • Major Thoroughfare • Westchase District

RETAIL SPACE AVAILABLE • Excellent Location • Major Thoroughfare • Greenway Plaza/Upper Kirby Area

PRIME FRONTAGE | MAJOR THOROUGHFARE

This is a two-story building situated on the southwest corner of Westheimer Rd and Gessner. Just minutes from Loop 610, Katy Frwy and Sam Houston Prkwy. Building Size: 4,480 SF | Lot Size: 0.35 Acres

Price: Call For Details

This is a multi-tenant retail shopping center that is located in the Greenway Plaza Area. It sits on the southeast corner of Richmond and Weslayan. Building Size: 4,144 SF | Lot Size: 0.2 Acres

Price: Call For Details

• Great Visibility • Major Thoroughfare • Westchase District

This is a multi-tenant single-story retail shopping center. The site consist of 35 parking spaces with prime frontage exposure along the Southwest Freeway. Building Size: 6,677 SF | Lot Size: 0.53 Acres

Price: Call For Details

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

5959 Richmond Avenue, Suite 440 Houston, TX 77057 WWW.GREENBERGCOMPANY.COM

Broker Contact: David Greenberg | Phone: 713-778-0900 EMAIL: DAVID@GREENBERGCOMPANY.COM

Stop Spinning Your Wheels!

Let Us, Your TEXAS Environmental Consulting Firm, Help You Navigate Through Your Environmental Risks.

Melanie Edmundson, P.G., Principal 832 485 2247 Melanie@PhaseEngineering.com

Full range of nationwide professional environmental services including: Phase I and Phase II ESAs • USTs • Asbestos • Mold • Lead • NEPA Reports Vapor Assessments • Wetlands • Property Condition Assessments

www.PhaseEngineering.com

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

MARCH FEATURE: BIG EVENTS ON THE HORIZON IN TEXAS erjcchouston.org

EVELYN RUBENSTEIN JCC HOUSTON

30th Annual JCC Charity Golf 28 Annual Tournament

more inside>

Outlook Underwritten by

Monday, April 23, 2018 Check-in & Lunch: 11:00 AM Shotgun Start: 1:00 PM BlackHorse Golf Club

SAVE THE DATE- THE 25TH FORUM

for

Texas Land

Markets

CONGRATULATIONS TO ALBERT WIGHT

APRIL 30, 2018

THE TOBIN CENTER FOR THE PERFORMING ARTS

GLOBAL MULTIFAMILY INVESTMENT SUMMIT

TO BE A PART OF THIS SPECIAL CELEBRATION, VISIT www.crew-sanantonio.org

“Bridging International Capital and Local Operators”

Manager of the Year! the newest BOMA

For information or to reserve your spot, contact Rene Kariel at 713.595.8168.

OTHER SIGNIFICANT SPONSORS: REDNews; Wilson, Cribbs+ Goren; Colliers International; First American Title Company National Commercial Services; Fidelity National Title National Frost Bank; Building Commercial Owners andServices; Managers Association April • Omni HotelDuplantis at the Design Colonnade Title26–27, Houston 2018 Holdings; Butler-Cohen; Group; • San Antonio, Texas of San Antonio is pleased to announce South Texas Surveying Associates; Craddock Massey, LLP; Hirsch & Westheimer,that P.C.;Albert Jerry Goldstein/Marcus & Millichap; Wight, CPM of Transwestern The 28th Annual Outlook for Texas Land Markets provides Phase Engineering

CI 102:

APRIL 3-4, 2018

hasabeen named Manager of the Year. information on variety of legal, economic, social, and natural Market Analysis for A graduate of Texascurrent A&M University, resource issues influencing land market dynamics. Commercial Investment Real Estate Albert has been a property manager for 2018 have teamed up March to host this 1, Global Summit, which will be attended by

online purchase & forWakefield’s tables, individual tickets, renderings exhibit spaces begins sponsors Cushman Multifamily Team&and distinguished

many apartment investors from the APAC, EMEA and LATAM regions. This Summit will host a series of panels and presentations designed to inform you about Texas CRE economic outlook, acquisition trends, criteria for JV partnerships, and local investment opportunities

Central South Texas GUEST SPEAKERS

30 years. He manages IBC Centre I & II

Sponsors and the |IBC Conference Bank Building at March 12-15, 2018 | Conference Addison,downtown TXUnderwriter

Nakoma. One of Albert’s tenants had this to say about him:

“Albert brings a wealth CI 102 is one of CCIM’s most innovative core Session Dates, Time, and Location: courses, which shows you how to deploy “big of knowledge and experience that are data” and the most advanced digital tools to LOCATION: assess critical issues like market demand, Addison Conference Center hard to match. Albert’s biggest strengths location facility, and supply-chain strategy. CI 15650 Addison Rd 102 students have learned BAO mapping and TX 75001 are his ability toAddison, treat the customer like data analytics to help their clients select store DATES: locations; others used Tapestry Segmentation he would like toMarch be treated and to face 12-15, 2018 to determine demand for apartment properties. In CI 102 you’ll work with four case issues head on.” building TIME: studies covering each of the major property 8:30 a.m. - 5:30 p.m. types: office, industrial, multifamily, and retail.

North Texas

This course will teach you how to:

Southeast Texas

Instructor:

CENTRAL SOUTH TEXAS

March MONDAY

TUESDAY

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

REDNews Newsletter [4:00pm]

BOMA Austin 2018 Joint AAFAME Luncheon [11:30am 1:00pm]

IREM Austin Luncheon [8:30am 11:30am]

RECA - Policy Committee Meeting [12:00pm - 1:00pm]

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

FRIDAY 1

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

BOMA San Antonio - Luncheon [11:00am 1:00pm]

CCIM, CREW, IREM SanAntonio - Joint Luncheon [11:30am 1:00pm] REDNews April Issue Deadline [5:00pm]

REDNews Newsletter [4:00pm]

CCIM Central Texas Luncheon [11:30am 1:30pm]

BOMA Austin - BOMI: RPA/FMA/PAC - Design, Operations, Maintenance of Building Systems

CREW Austin - Luncheon [11:30am - 1:30pm]

RECA - Regional Issues Committee [12:00pm 1:30pm]

REDNews Newsletter [4:00pm]

March 2018

BOMA Austin - 2018 TOBY Workshop [8:30am - 10:00am]

BOMA Austin - Board Meeting

CTCAR - Luncheon with Ted C. Jones, PHD [11:30am - 1:00pm]

RECA - Mayoral Town Hall Luncheon [11:00am - 1:00pm] CCIM Central Texas Luncheon [11:30am - 1:30pm]

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 AUSTIN

CENTRAL SOUTH TEXAS SOCIAL

BOMA Austin President Kristin Chavarria announcing Don Tait Memorial Scholarship with Judy Tait and Stewart Geise, Managing Director CBRE.

CTCAR AUSTIN

CREW SAN ANTONIO

L to R Laura Fuller, Kacey Fuller, Kelly Rabanal, Bret Broussard, Ryan Payne Feb 2018

Delea Becker, Dr. Lloyd Potter, Teresa Person & V.Bruce Evans at the CTCAR January 2018 Luncheon on Texas Demographic Trends.

CONGRATULATIONS TO ALBERT WIGHT

Manager of the Year! the newest BOMA

SAVE THE DATE- THE 25TH FORUM

APRIL 30, 2018

THE TOBIN CENTER FOR THE PERFORMING ARTS TO BE A PART OF THIS SPECIAL CELEBRATION, VISIT www.crew-sanantonio.org

online purchase for tables, individual tickets, renderings & exhibit spaces begins

March 1, 2018

Building Owners and Managers Association of San Antonio is pleased to announce that Albert Wight, CPM of Transwestern has been named Manager of the Year. A graduate of Texas A&M University, Albert has been a property manager for 30 years. He manages IBC Centre I & II downtown and the IBC Bank Building at Nakoma. One of Albert’s tenants had this to say about him: “Albert brings a wealth of knowledge and experience that are hard to match. Albert’s biggest strengths are his ability to treat the customer like he would like to be treated and to face building issues head on.”

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

March MONDAY

TUESDAY

WEDNESDAY

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

THURSDAY

FRIDAY 1

REC of Fort Worth FWISD Bond Package Update [7:30am - 9:30am] BOMA Dallas - Happy Hour [5:00pm - 8:30pm]

ULI North Texas - New Member Welcome Coffee [8:00am - 9:30am]

BOMA Dallas - Foundations of Real Estate Management [9:00am - 4:00pm]

Ladies in CRE - Branite's Factory Six03 [5:30pm 7:30pm] REC of North Texas - Casino Night 2018 [7:00pm - 10:00pm] REDNews Newsletter [4:00pm]

BOMA Fort Worth - Monthly Luncheon [11:00am - 1:00pm]

CREW Fort Worth Luncheon [11:30am 1:00pm]

IREM Dallas - Executive Council Meeting [12:00pm 2:00pm]

REDNews Newsletter [4:00pm]

REDNews April Issue Deadline [5:00pm]

CCIM North Texas - CI102 Market Analysis [8:30am 5:00pm]

REDNews Newsletter [4:00pm]

CCIM North Texas RealNex MarketEdge & MarketPlace Course

BOMA Dallas - What is TOBY? [8:00am 10:00am]

REC of GFW - YLC Breakfast [8:30am - 9:30am] IREM Fort Worth - Luncheon [11:30am - 1:00pm]

CCIM North Texas Luncheon [11:30am 1:00pm]

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

ULI North Texas Breakfast [7:30am 9:30am]

Greater Fort Worth Assoc. of Realtors Breakfast [7:30am - 9:00am]

CORENET North Texas - Happy Hour [4:00pm 7:00pm]

ULI North Texas New Member Welcome Coffee [8:00am - 9:30am]

BOMA Dallas - Luncheon [11:00am - 1:00pm] REC of Fort Worth Member Get Together [5:00pm - 7:00pm]

REDNews Newsletter [4:00pm]

March 2018

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

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.

NORTH TEXAS

CCIM NORTH TEXAS

SOCIAL ULI NORTH TEXAS

2018 Brokers Forecast David Schnitzer, CCIM, Pam Spadaro, CCIM, Debi Carter, CCIM and Dan Campanella, CCIM.

REC OF GFW

UrbanPlan Volunteer Facilitation at DISD’s Skyline High School.

CI 102: John Martin with SIR

Market Analysis for Commercial Investment Real Estate March 12-15, 2018 | Addison, TX CI 102 is one of CCIM’s most innovative core courses, which shows you how to deploy “big data” and the most advanced digital tools to assess critical issues like market demand, location facility, and supply-chain strategy. CI 102 students have learned BAO mapping and data analytics to help their clients select store locations; others used Tapestry Segmentation to determine demand for apartment properties. In CI 102 you’ll work with four case studies covering each of the major property types: office, industrial, multifamily, and retail. This course will teach you how to: > apply Market and Competitive Analysis, Political and Legal Analysis, Location and Site Analysis, and Financial Analysis to make fundamental investment decisions; > perform state-of-the-art geospatial analyses; and > forecast future demand and opportunities for investment.

L to R: Bradley Taylor with FC Construction Services, Travis Clegg with Peloton Land Solutions

Prerequisite: CI 101: Financial Analysis for Commercial Investment Real Estate

Session Dates, Time, and Location: LOCATION: Addison Conference Center 15650 Addison Rd Addison, TX 75001 DATES: March 12-15, 2018 TIME: 8:30 a.m. - 5:30 p.m.

Instructor: Eric Hillenbrand, CCIM George Wilson, CCIM

Tuition: Member: $1,365 Non-member: $1,650

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

March MONDAY

REDNews Newsletter [4:00pm]

TUESDAY

WEDNESDAY

THURSDAY

IREM Houston Luncheon [11:30am 1:00pm] ULI Houston - Happy Hour [6:00pm - 8:00pm]

REDNews Newsletter [4:00pm]

CORENET Houston Meet the New Faces Shaping Our City [7:30am 9:00am]

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

FRIDAY

CCIM Houston Luncheon [11:30am 1:00pm]

BOMA Houston - Business Exchange [2:30pm - 6:00pm]

BACREN - Luncheon [10:30am -1:00pm]

REDNews April Issue Deadline [5:00pm]

REDNews Newsletter [4:00pm]

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

ACRP Houston - Happy Hour [5:00pm - 7:00pm]

CCIM Houston Crawfish Boil [4:00pm -7:00pm]

BOMA Houston - Crawfish Boil [5:30pm - 7:30pm]

March 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.

HOUSTON APARTMENT ASSOCIATION

SOUTHEAST TEXAS SOCIAL IREM HOUSTON

Gary Blumberg, Jackie Rhone, TAA President, Jeff Lowry, Chairman of the Board for NAA for 2018, Kyle Brown, HAA Immediate Past President

TABB HOUSTON

2018 President Stephanie Swanson, CPM with Transwestern installs our newest CPM Wendy Parker, also with Transwestern

Allegiance Bank Brenda Edwards

EVELYN RUBENSTEIN JCC HOUSTON

PHOTO COURTESY PlusCorps

CCIM HOUSTON FORECAST COMPETITION

erjcchouston.org

30th Annual JCC Charity Golf Tournament Underwritten by

L to R: Benton Mahaffey, REDNews Magazine; Ginger Wheless, REDNews Magazine; Paul McDonald, Foxtail Properties

Monday, April 23, 2018 Check-in & Lunch: 11:00 AM Shotgun Start: 1:00 PM BlackHorse Golf Club For information or to reserve your spot, contact Rene Kariel at 713.595.8168. OTHER SIGNIFICANT SPONSORS: REDNews; Wilson, Cribbs+ Goren; Colliers International; First American Title Company National Commercial Services; Fidelity National Title National Commercial Services; Frost Bank; Title Houston Holdings; Butler-Cohen; Duplantis Design Group; South Texas Surveying Associates; Craddock Massey, LLP; Hirsch & Westheimer, P.C.; Jerry Goldstein/Marcus & Millichap; Phase Engineering

L to R: Ed Lester, AmTrust Title; Dr. Mark Dotzour, Keynote Speaker; Harold Hunt, Texas A&M Real Estate Center PHOTOS COURTESY PlusCorps

CENTRAL SOUTH TEXAS bulletin

AUSTIN, TX

BOERNE, TX

SAN ANTONIO, TX

ATHLETICS COMPLEX DEVELOPMENT The Junction Athletics Complex located on 69 acres at 8921 W. US 290 broke ground in March. Spearheading the development is former NFL player Mike Rosenethal and it will include two pools, 12 beach volleyball courts, 4 soccer fields, 12 indoor, multi-use courts & wooded trails.

HOTEL DEVELOPMENT Phoenix Hospitality Group is building a $25 million hotel & conference center called The Bevy Hotel Boerne located at 101 Herff Road. The hotel will have 120 rooms & is set to open in early 2019.

HEMISFAIR DEVELOPMENT Zachry Hospitality is planning a $200 million development at Hemisfair. The project will include a 14-story, 200 room hotel and an 8 story, 150,000 sf Class A office tower and a market. A two-level 800-space parking garage will also be constructed. Construction is planned for late summer with delivery set for first or second quarter 2021.

GROCERY STORE DEVELOPMENT Whole Foods is opening another 30,000 SF, 365 store at I-35 & E. 5th Street. It will be part of the new Plaza Saltillo district & is expected to open in the second half of 2019.

Photo courtesy Austin American Statesman

AUSTIN, TX MIXED-USE DEVELOPMENT Adam Zarafshani of Eightfold Development & Panache Development & Construction has broken ground on a $400 million project that will be a transformation of the former Motorola campus at US 183 & Ed Bluestein Blvd. The property includes 125 acres & the developer has plans to deliver 525,000 sf of building space by the end of the year.

Doug Swanson has joined Turcotte Real Estate Service’s brokerage & leasing team.

OFFICE CAMPUS SALE World Class Property Company purchased 3M’s 1.3 million sf campus located on 158 acres off RM 2222 & RM 620. The complex includes offices, labs & an innovation center, as well as nature trails & walking paths. The campus reportedly can be expanded to over 3 million sf. OFFICE DEVELOPMENT Aquila Commercial is developing a 115,000 sf office project at 2010 E. 6th Street. It will be Main Street Hub’s new headquarters. Delivery is planned for spring 2019. OFFICE SALE Dallas-based TIER REIT Inc, in a joint venture with Endeavor Real Estate Group purchased two office buildings totaling 240,000 sf on 9.5 acres near Burnet Road & North MoPac Expressway. The site could eventually be redeveloped to add 1 millions sf of additional office space. OFFICE SALE Lionstone Investments purchased the 2114,300 sf Rollingwood Center I & II located at 2500 Bee Caves Road from Endeavor Real Estate Group. Endeavor plans to break ground on a third building to be called Rollingwood Center III. RESIDENTIAL DEVELOPMENT Masonwood Development Corp has started construction on Provence, a 1,600 home development at 16314 Hamilton Pool Road. Approximately 150 lots will be part of the first phase & could be available by January 2019. SCHOOL CAMPUS IDEA Public Schools, a network of Texas charter schools, purchased 11 acres in Bluestein Park subdivision in east Austin for a future campus. InSite Educational Facility Services LLC represented the buyer & Bill Gaston Inc was the seller and the broker.

March 2018

CEDAR PARK, TX MIXED-USE DEVELOPMENT Thompson Morris Real Estate Development, LLC purchased 126 acres at the northwest corner of East Whitestone Blvd (RM 1431) & Sam Bass Road for the purpose of developing a mixed-use development. John Baird, along with Jeff Bodenman & Mike Kennedy with Avison Young represented the buyer.

GEORGETOWN, TX MIXED-USE DEVELOPMENT Two mixed-use projects, Wolf Lakes Village & Wolf Crossing, are breaking ground near Hwy 29 & I-35. Wolf Lakes Village will include up to 4 million sf of commercial & residential development on 164 acres & is expected to break ground this year. Wolf Crossing will include 250,000 sf of commercial space including a hotel, grocery store & medical office with construction expected to begin in May & completion in 2019.

LAKEWAY, TX SENIOR LIVING DEVELOPMENT Belmont Village, a 130,000 sf, 156unit, senior living facility is being constructed at N. FM 620 & 107. It is scheduled to open summer 2018.

MCALLEN, TX INDUSTRIAL SALE Texas-based Killiam Development Ltd purchased the Sharyland Business Park, a 10-property portfolio totaling 1.6 million sf near the Anzalduas National Crossing & the McAllen International Airport from IDI Logistics Inc. The sale included 111 acres of developable land and was brokered by JLL.

PFLUGERVILLE, TX INDUSTRIAL FLEX SPACE DEVELOPMENT Live Oak-Gottesman LLC is building a 240,000 sf development called Heatherwilde 45 at the southeast corner of Heatherwilde Blvd & SH 45. The project will include three warehouse/office buildings & is scheduled for completion by mid 2022.

HOTEL/HIGH-RISE DEVELOPMENT The Thompson San Antonio Hotel & the Arts Residence is being constructed in San Antonio’s Museum District. The 20-story tower will have 162 guest rooms & 58 condominiums. 40% of the condominium homes have already been sold. RETAIL DEVELOPMENT Austin-based CSW Development is developing La Cantera Heights, a 34acre retail district on La Cantera Pkwy & Fiesta Trail Drive. The nine-acre tract will include at least six buildings ranging from 3,000 sf – 24,000 sf. Future office development & retail expansion is also planned for the property. RETAIL SALE Santikos Real Estate Services sold the Nacogdoches Crossing, a 22,434 sf retail center located at 6826 North Loop 1604 to a private investor. The property included two acres of develop-ready land that can accommodate 19,000 sf of new retail space. HFF represented the seller. VACANT LAND SALE San Antonio City Council approved the sale of approximately 10 acres at 301 Spriggsdale Blvd to the George Gervin Youth Center for $430,000. The Center now owns 20 acres where they will develop 500 market-rate apartments & about 28,000 sf of retail space.

SAN MARCUS, TX MEDICAL OFFICE SALE Global real estate investment firm, Heitman LLC, purchased the threebuilding, 200,000 sf Westover Hills Medical Plaza at 11211 Highway 51 as well as medical buildings in Sugar Land & Houston. MULTI-FAMILY DEVELOPMENT Sabot Development is constructing a multi-story, steel, modular apartment complex called Cheatham Flats at 401 S. Guadalupe Street. The project will have 187,000 sf & is being manufactured off site & shipped to San Marcus in order to stream line cost & production time.

ARLINGTON, TX RETAIL SALE Cincinnati-based Phillips Edison Grocery Center REIT II Inc has acquired Seville Commons, a 113,742 sf retail center at the NE corner of Collins St & Lamar Boulevard. Chris Gerard, Senior Vice President at CBRE, along with Chris Cozby & Blaine Dozier of CBRE represented the undisclosed seller in the deal.

CARROLLTON, TX INDUSTRIAL LEASE Tradeline Motorcars Inc has signed a lease for 16,000 sf of industrial space at 3222 Skylane Drive. Brett Owens & Timothy Veler of Transwestern represented the landlord, Colony Northstar.

DALLAS, TX OFFICE LEASE CBRE announced the lease of 42,000 sf of penthouse floors at KPMG Plaza at HALL Arts in the Dallas Arts District to the law firm Bell Nunnally & Martin, LLP. Jeff Ellerman & John Ellerman with CBRE represented Bell Nunnally & Kim Vincent Butler with HALL Group represented the landlord. OFFICE LEASE Robert Haff has leased about 13,000 SF of office space at The Addison at 14951 N Dallas Parkway. Fiona Forkner & Brooke Armstrong represented JLL. Holden Lunsford & James Engels of Dallas-based Holt Lunsford Commercial represented the landlord. . OFFICE SALE CA-based Equinix, Inc. is purchasing the 1.6 million sf Infomart Dallas located at 1950 N Stemmons Frwy for $800 million from ASB Real Estate Investments. The sale is expected to close second quarter 2018.

FORNEY, TX MASTER-PLANNED DEVELOPMENT Wynne/Jackson, a Dallas-based real estate development firm, commenced construction of 1,000+ new homes at Overland Grove, a 336-acre property located between Highway 80 & Interstate 20 on FM 548. Wynne/ Jackson is partnering with RAM Real Estate Capital on the project. Key executives involved are Michael C. Jackson, Vice President & Principal of Wynne/Jackson & John Lincoln, Senior Vice President, RAM.

FORT WORTH, TX MULTI-BUILDING CAMPUS DEVELOPMENT Tarleton State University begins construction on an 80-acre campus in the Chisholm Trail Parkway corridor. The project will be a $41M academic building on a planned multi-building campus.

OFFICE SALE Dallas-based TIER REIT Inc has sold the 133,000 sf Centreport Office Center in Fort Worth as well as 500 East Pratt in Baltimore & Loop Central in Houston & is purchasing Domain Point, a 240,000 sf, two-building project on 9.5 acres in Austin. OFFICE SALE JLL announced the sale of the Petroleum Building in Fort Worth on behalf of XTO Energy Inc to Sundance Square. JLL Executive Vice President Ryan Matthews represented XTO Energy, Inc in the transaction. This completes the disposition of four of the seven XTO office properties in Fort Worth. The remaining assets are expected to go to market over the coming months with Matthews leading the marketing efforts.

FRISCO, TX CORPORATE HEADQUARTER DEVELOPMENT Boston-based Cabot Properties & Dallasbased Stream Realty Partners begin construction on a 160,000 sf corporate headquarters for Wake Forest NC’s PowerSecure Inc. PowerSecure leased about 75,000 sf in the new project within Frisco Park 25, a 216-acre business park at the NWC of Preston Road & Rockhill Parkway. The remainder of the project will be available for lease. Cannon Green, a co-managing director & partner of Stream & Hagewood are leading the leasing efforts for the remainder of the building. MIXED-USE DEVELOPMENT Wade Park, a $3B development along the Dallas North Tollway, could sell to the highest bidder at Collin County auction slated for March 6. Lenders behind the development have foreclosed on loans made to Wade Park L& LLC, an affiliated limited liability company of Thomas L& LLC Development. OFFICE LEASE RBC Wealth Management leased 8,800 SF of office space at One Cowboy Way. JLL’s Calvin Hull represented RBC Wealth Management in its real estate deal. Dallasbased Lincoln Property Co’s Jake Young & Worthey Miles represented the landlord, Blue Star.

GRAND PRAIRIE, TX VACANT LAND SALE NexMetro Communities of Phoenix acquired a 13-acre parcel located on the corner of Sara Jane Parkway & Forum Drive at the NW quadrant of State Highway 161 & Interstate 20. Younger Partners broker Tom Grunnah represented NexMetro along with colleagues Michael Ytem, Jeremy Lillard, & Kevin Harrell.

GRAPEVINE, TX OFFICE LEASE Genessee & Wyoming Railroad Services leased 13,063 sf of office space at 1940 Enchanted Way. Eric Goodwin of Champions DFW Commercial Realty represented the

tenant. Transwestern’s Timothy Clarke & Timothy Veler represented the landlord, United Cellular Inc.

IRVING, TX INDUSTRIAL SALE Mar-Lan Industries has acquired a 20,864 SF industrial building at 1624 W Walnut Hill Lane. Trace Fielding & Greg Nelson of Paladin Partners represented the buyer. Corbin Blount & Adam Graham of Lee & Associates represented the seller, Solaris Technologies.

NORTH TEXAS

bulletin

OFFICE COMPLEX SALE An oil & gas company has acquired a three-building office complex totaling 66,885 SF for its headquarters. TPS Realty, LLC acquired the office buildings on 4.6 acres at 6301, 6321, & 6341 Campus Circle Drive E from Hangover Opportunity Fund LLC.

KILLEEN, TX RETAIL LEASE Woodmont Company signed Crunch Fitness to a 27,587 SF lease at Wendland Plaza, a 205,224 SF shopping center located at the NWC of Highway 190 & Fort Hood St at 901 S Fort Hood St in Killeen. Grant Gary & Dan Rebensdorf of the Woodmont Company represented the landlord, Killeen ATM, LLC.

MCKINNEY, TX AIRPORT EXPANSION The city of McKinney & McKinney National Airport have acquired 190 acres at the southeast side of the existing airport with plans to buy additional tracts in the next five years. Acquisition price was $22.3M.

RICHARDSON, TX GROCERY STORE LEASE Natural Grocers signed a lease to open a 14,870 SF grocery store at 677 W Campbell Road. Clay Mote & Tim Henson of Dallas-based Venture Commercial Real Estate represented the tenant along with Natural Grocers’ master broker, James Craddock of Craddock Commercial Real Estate.

DALLAS, TX DATA CENTER CAMPUS DEVELOPMENT Denver-based EdgeCore Internet Real Estate LLC, formed by Mount Elbert Capital Partners, GIC, & OpTrust, plans to build a multi-building, $1B data center campus in a Dallas area suburb. The purchase is expected to close in March with construction expected to begin this summer. EdgeCore Internet Real Estate recently raised more than $800M in equity to purchase tracts of land in key data center markets.

F. Scott Taylor has joined CBRE as Director & leader of their property tax practice for Valuation & Advisory Services.

PLANO, TX MIXED-USE DEVELOPMENT Headquarters II, an office high-rise & hotel, is being developed by Ray Heady on the northeast corner of Headquarters Drive & Dallas North Tollway in Legacy business park. Two 14-story office towers will total 425,000 sf.

WOODWAY, TX MIXED-USE DEVELOPMENT Developer Marshall Stewman has purchased 11 acres for the development of The Outlook at Bosque Ridge which will include restaurants, retail & office space. The project is located along Highway 84 in Woodway.

March 2018

SOUTHEAST TEXAS bulletin

BAYTOWN, TX VACANT LAND SALE Duke Air purchased 4.3 acres On Rollingbrook close to Emmit Hutto Drive for the development of a medical supply retail center. Claire Sinclair Gabrel & Wade Sinclair of Claire Sinclair Properties represented the seller & Jeff George with Keller Williams Realty represented the buyer.

CONROE, TX INDUSTRIAL LEASE KRO Energy Products leased 14,732 sf at 13019 Crockett Martin Road. Jake Wilkinson & Darren O’Conor with NAI Partners represented the landlord & Kyle Fischer with Belvoir Real Estate Group represented the tenant. Bruce Hurta has joined the SBA Lending Team of Fidelity Bank as an SBA Business Development Officer.

Russell Hodges has been appointed to lead JLL’s office leasing brokerage team.

Lisa Bovermann has joined Transwestern as Senior Vice President oin the Healthcare Advisory Services division.

Blake Anderson has joined Savills Studley as Co-Branch Manager & Southwest Regional Industrial Services Leader.

HOUSTON, TX

HIGH-RISE DEVELOPMENT Melbourne, Australia-based Caydon Property Group is building a 27-story, 357-unit high rise at 2850 Fannin Street in Midtown. The project will include 12,000 sf of retail space & a 482-car parking garage. EVENTS FACILITY REDEVELOPMENT The Harris County Commissioners Court approved a recommendation to redevelop the Astrodome into a usable facility for festivals & events. Plans include raising the Astrodome floor 30 feet to ground level, creating more than 500,000 sf of rentable space & creating 1,400 parking spaces. INDUSTRIAL LEASE An affiliate of Dallas-based Sealy & Co. has acquired the Sam Houston Business Park totaling 262,631 SF of industrial space in NW Houston. INDUSTRIAL LEASE SICK Inc leased 28,000 sf at 5500 N. Sam Houston Parkway W. Greg Usher Of Cypressbrook Companies represented the tenant & Christie Wiess of Liberty Property Trust represented the landlord. INDUSTRIAL LEASE MDHC leased 49,834 sf at 6001B West By Northwest. Greg Barra & Mike Boyd of Boyd Commercial represented the landlord & Daniel Hollek of Centric Commercial REA represented the tenant. INDUSTRIAL LEASE Erne Fittings leased 45,025 sf at 9725 Kirkton. Ryan Wasaff & Brad Berry represented the landlord, Welcome Group. Greg Barra & Mike Boyd of Boyd Commercial represented the tenant.

Justin Cole, Brandon Wuntch, Drew Aston, Mason Alsbrooks, Jeff Kuper, Stephen Hazen & Feysal Edris have joined Lee & Associates brokerage team.

INDUSTRIAL SALE LHI,2, LLC purchased a 27,175 sf building at 12233 Robin Blvd from 4210 Bluebonnet Blvd, LLC. Thomas Leger & Mike Spears with Lee & Associates represented the buyer. INDUSTRIAL SALE RSR York Properties, LLC purchased a 12,000 sf building in Stonegate

March 2018

Business Park from Clay Development & Construction. David Boyd with Boyd Commercial represented the buyer & Copeland Rhea with Clay Development represented the seller. INDUSTRIAL SALE Archway Properties & NewQuest Properties sold a 49,640 sf flex industrial building located at 500 Century Plaza to Finial Group. The sellers were represented by Trent Agnew, Rusty Tamlyn & Johnny Kight with HFF. MEDICAL OFFICE/RETAIL DEVELOPMENT Pipeline Realty is building a 26,000 sf medical office/retail/restaurant development at 3535 W. Holcombe Blvd west of Buffalo Speedway. OFFICE LEASE Greater Houston Community Foundation leased 18,463 sf at 515 Post Oak Bvld. Richard Barbles with Stream Realty represented the landlord & Dan Boyles with NAI Partners represented the tenant. OFFICE LEASE Global Tubing, LLC, owned by Houstonbased Forum Energy Technologies, leased 6,355 sf of office space at 250 Assay Street in Generation Park. OFFICE LEASE Elemential USA, an international building materials company, leased 16,505 sf at 396 W. Greens Road. Jessica Ochoa & John Pruitt represented the landlord, GWL Realty Advisors & Tripp Pruet of Savills Studley represented the tenant. OFFICE LEASE Insgroup Inc leased 43,296 sf & Legal Access Holding Company LLC leased 19,816 sf at Sage Plaza, 5151 San Felipe. Colliers International represented Legal Access & JLL represented Insgroup. OFFICE SALE Exeter Property Group purchased the 206,000 sf Legacy at Fallbrook office building from Libery Property Group for $30.5 million. The building is located at 10720 W. Sam Houston Parkway. RETAIL LEASE SALE & VACANT LAND PURCHASE Rice Management Company, which oversees Rice University’s endowment, bought out the 28 years that remained on Sears’ lease at 4201 Main Street. They also purchased an adjoining three acres from the retailer & are currently studying redevelopment options for the site. RETAIL SALE Dasford, LLC has closed on a 56,000 sf retail center at 1315 S. Dairy Ashford, just south of Memorial Drive. The property is primarily occupied by the seller, Grace Point Church, who will remain as a tenant. The buyer was represented by Lee Harwood & the seller was represented by Ashley Casterlin with Davis Commercial.

TERMINAL FACILITY DEVELOPMENT Contanda Terminals purchased 339 acres with deep water access on the Houston Ship Channel. The terminal will provide access to on-sight processing, ship & barge docks & tank truck/railcar accessibility. VACANT LAND SALE Giro Realty Investments Ltd sold a 7.08 acre tract along Holly Oak Drive to NH-Holly Oak LP. Danny McCormack of NewQuest Properties represented the seller in the direct transaction.

HUMBLE, TX RETAIL SALE Montreal-based Zenda purchased the 65,000 sf Orleans Square Shopping Center locatred at 18321 West Lake Houston Parkway. Lewis Property Company represented the buyer & Derek Hargrove, Justin Miller & Davis Hansen of Marcus & Millichap represented the seller.

IOWA CITY, TX

(BRAZORIA COUNTY) RESIDENTIAL DEVELOPMENT Land Tejas has purchased an additional 500 acres just west of Texas 288, south of SH 6, as an addition to their Sierra Vista community. When Sierra Vista is complete, the community will have approximately 2600 homes.

RICHMOND, TX RETAIL LEASE Hobby Lobby has opened a 55,000 sf retail location at 10247 W. Grand Parkway South in Richmond.

STAFFORD, TX INDUSTRIAL SALE Black Flag Properties sold a 68,300 sf industrial distribution warehouse to a subsidiary of STAG Industrial Inc. The building is located in Stafford Commerce Center at 13720 Stafford Road. HFF represented the seller.

SUGAR LAND, TX MIXED-USE DEVELOPMENT Imperial Market Developers will begin construction in March on the old sugar refinery site. The old Char House will be turned into a boutique hotel, as well as an engineering building, three-bay warehouse, container warehouse, silos & smokestacks. The bottom portion of each of the three silos will be restored to house restaurants. Four acres was sold to Sueba for multifamily development. Construction is estimated for completion by fall 2019.

TOMBALL, TX RESIDENTIAL DEVELOPMENT Johnson Development purchased a former Arabian horse farm on 370 acres at 19600 Stone Lake Drive. The buyer plans to build a 1,000 home community & turn a 7,000 sf building into a recreation center. Phase One with 250 lots & the recreation center should be open by fall 2019.

ADVERTISER INDEX

classifieds & index

A. A. Realty Company 19

First American Title 27

Beacon Developments LLC 15

Gordon Partners 8, 9

Berkadia 2, 3

Greenberg & Co. 29

Bettencourt Tax Associates 27

Hankamer Commercial Brokers, LLC 29

BOMA - San Antonio 33

JCC 37

Briarhollow Realty Group, Inc. 17

Levcor, Inc. 12

Caldwell Companies 13

National Environmental Services 43

Capital Retail Properties 1-SE , 5

Phase Engineering 30

City Bank Texas 44

Plus Corp Photography 29

City of Seabrook 22, 23

Stream Realty Partners 1- C/So, 7

Cushman Wakefield 25

The J. Beard Company

Equity Secured Capital, LP 27

The Signorelli Company 28

FastCommercialCapital.com 12

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CRE ORGANIZATION PARTNERS

North Texas CCIM Chapter

28th Annual

Outlook

for

Texas Land

Markets

April 26–27, 2018 • Omni Hotel at the Colonnade • San Antonio, Texas The 28th Annual Outlook for Texas Land Markets provides information on a variety of legal, economic, social, and natural resource issues influencing current land market dynamics.

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Happy St. Patrick’s Day! NATIONAL ENVIRONMENTAL SERVICES

GABRIEL ENVIRONMENTAL GROUP

Houston, Texas

San Bernardino, California

N AT I O N W I D E A S S E S S M E N T G LO B A L I M PAC T National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in San Bernardino, California, are sister environmental consulting companies, established in 1995, that conduct a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround. National Environmental Services, LLC 5773 Woodway Drive, Suite 96 Houston, Texas 77057 Tel: 281.888.5266 hgabriel@nationalenv.com www.nationalenv.com

Licensed, certified and qualified to perform a wide range of services, including: • Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13) • Transaction Screens (ASTM E 1528-06) • Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency) • RSRAs (Records Search with Risk Assessments) • Phase II Subsurface Investigations* • Remediation and Corrective Activities* • Soil, Water, and Air Testing Services • Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* *Performed in Texas in partnership with Terrain Solutions, Inc., Texas Geoscience Firm Registration # 50018

Gabriel Environmental Group 700 East Redlands Blvd, Suite U618 Redlands, California 92373 Tel: 951.545.0250 hgabriel@gabrielenv.com www.gabrielenv.com

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South,Suite 2537 S. Gessner, Suite 135, Bellaire, TX 77401 Houston, TX 77063

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