MAY 2016
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE FOR SALE: Âą21.3 Acres
TEXAS OUTLOOK ON RETAIL Buying into the future All About Converse
Foreign Investment EB-5
Premier Land Site in the Texas Medical Center Area Cushman & Wakefield of Texas, Inc. Licensed Real Estate Brokers 1330 Post Oak Boulevard, Suite 2700 Houston, TX 77056 (713) 877-1700
For more information about the property, please see page 22
HOUSTON, TEXAS LAND OPPORTUNITIES
RETAIL SITES OR OTHER POTENTIAL USES ±34,562 SF SWC W. ALABAMA & EDLOE
SWC WAUGH DR. & D’AMICO ST.
AVAILABLE FOR GROUND LEASE
FOR SALE OR GROUND LEASE
GALLERIA AFTON OAKS
HIGHLAND VILLAGE WE WE
AL
AB
AM
AS
STH
EIM
ER S T.
T.
SITE EDLOE ST.
s
GREENWAY PLAZA
ST
v v
Available for Ground Lease Excellent retail corner
±2.6 ACRES HIGHWAY 146
±2.94 ACRES HIGHWAY 290 & GUHN RD.
LA PORTE, TEXAS
v
HOUSTON, TEXAS
Many potential uses in a growing area
Kristen McDade
+1 713 577 1808 kristen.mcdade@cbre.com
Prestigious corner across from Whole Foods
v
Nolan Mainguy
v
+1 713 577 1841 nolan.mainguy@cbre.com
Retail end location, ready to go!
CONTENTS
Market
Sales & Leases 1 – 3, 5, 7–9, 13-23, 25-28
Services
Environmental Services 30 Land Servicing 44 Legal Services 41
Scoop
Events 28, 32, 34, 36 Social 33, 35, 37 Bulletin 38–40
Features
Converse Buying Power 8 Buying Into The Future: Texas Outlook on Retail 10–12 CIVIL FAIR PLAY Spotlight on Foreign Investment: What's driving overseas money to Texas? 24, 29 RAY'S BUZZ BoyarMiller Perspectives on the Energy Industry 2016 42 CCIM Retail Luncheon 42
4
May 2016
Photo Credit: Courtesy: Converse
International Icon Properties
For Sale
Sandow Lakes Ranch
Agricultural • Recreational • Environmental • Industrial • Residential • Commercial In the great state of Texas, both history and landscapes are often defined by the union of unlikely partners. One such thriving and vibrant partnership can be found at Sandow Lakes Ranch, a magnificient, unique and versatile property in the heartland arrays of rolling, lush grasslands, protected marsh and wetlands, and beautiful serene areas.
KEY FACTS 33,800± Fee Simple Acres: 24,435 Milam County | 8,714 Lee County | 629 Bastrop County
INCOME PRODUCING / PROPERTY TAX NEUTRAL UNPARALLELED WATER RESOURCES 14 Lakes covering 1,960 surface acres with 48,379 acre feet of water, 44,000 acre feet of water per year permitted from Simsboro Aquifer with an additional 14,000 acre feet of water available for permitting, and an additional 18,000 acre feet of surface water permitted for diversion from the Little River. 100% of all water rights will be conveyed.
INDUSTRIAL COMPLEX Turn Key: Full utilities in place (electricity, gas, water, water treatment and waste disposal), roads, railhead, intermodal facility, warehousing, manufacturing and distribution
MINERAL RIGHTS 5,564 acres with 100% Oil and Gas Minerals, 22,489 acres with 60% Oil and Gas Minerals. It is estimated that 200 million tons of lignite coal remain in the buffer Sandow acreage. 100% of owned minerals will be conveyed.
Bernard Uechtritz 214.855.4000
www.Icon.Global
Letter from the Publisher
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
PUBLISHER
Ginger Wheless ginger@REDNews.com
EDITOR
Margie Gohmert info@REDNews.com
STAFF WRITER
Janis Arnold janisarnold1@gmail.com Brandi Smith info@REDNews.com
Dear Readers,
This is our 10th annual ICSC RECON issue which will be distributed at the conference this month in Las Vegas on May 22nd – 25th. 36,000 attendees are registered for the event and the Sunday opening session speakers include “Magic” Johnson, Parag Khanna of Factotum, Hybrid Realty and Tony Hsieh of Zappos (my favorite shoe store). Gary Friedman of Restoration Hardware will be speaking on Monday followed by Bobbi Brown of Bobbi Brown Cosmetics on Tuesday.
We spoke with numerous Texas retail experts regarding their market outlook and the overall consensus is retail is alive, well and thriving in Texas despite low oil prices.
It’s interesting to hear that savvy retailers who once feared online shopping have embraced “omni-channeling” during recent years and are now providing their customers with seamless online/storefront shopping experiences that have actually increased their sales. To read the full article, see pages 10-12.
CONTRIBUTING WRITER
Ray Hankamer rhankamer@gmail.com
EMARKETING DIRECTOR
Rahul Samuel emarketing@REDNews.com
DIGITAL/MARKETING DIRECTOR Tony Nelson digital@REDNews.com
ACCOUNTING
Benton Mahaffey accounting@REDNews.com
SALES
Ginger Wheless ginger@REDNews.com
PRINT & DIGITAL DISTRIBUTION
REDNews is directly mailed each month to commercial real estate brokers, investors & developers.
I hope you have a very successful ICSC RECON show and a fun-filled Memorial Holiday. Best Regards,
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
Ginger Wheless
TOTAL QUALIFIED REDNews DISTRIBUTION: 50,458 REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 5909 West Loop South, Suite 135 Bellaire, TX 77401
6
May 2016
±219 ACRES BEACHFRONT
WEST END OF GALVESTON ISLAND, TEXAS
POINTE WEST
PROPERTY HIGHLIGHTS v ±219 acres of beachfront land, located on the far west end of Galveston Island, fronting the Gulf of Mexico and Bluewater Highway v Approximately 70 miles from Houston CBD and 25 miles from Galveston CBD v Immediately west of Pointe West Resort Community, a ±1,000 acre Master-Planned Resort Community with amenities that include a Beach Club, restaurant/bar, gift shop, multiple pools, a lazy river and private beach. v Price: $15,000,000
Kristen McDade
+1 713 577 1808 kristen.mcdade@cbre.com
Nolan Mainguy
+1 713 577 1841 nolan.mainguy@cbre.com
All About Converse BY BRANDI SMITH
REDNews talks with Converse Economic Development Corporation (EDC) Executive Director Kate Silvas about the steady transformation currently underway in Converse, Texas near San Antonio. RN: Why should our readers think Converse for their next project?
KS: What is happening in Converse is really remarkable, and what is happening -- and what is about to happen here - is very exciting.
The bottom line for your readers will be just that: the bottom line. Literally, Converse represents more than $1 billion in buying power, and it’s growing! Why? First, we are permitting 200 homes in Converse annually and have been for more than 10 years. Second, Converse is also one of the safest and most affordable places to live in the San Antonio region. Finally, there’s the growth in unmet retail demand and almost every sector in Converse – $788 million to be exact. That means that more than $750 million is leaking or escaping our community in retail sales every year. That is a significant opportunity or gap we are seeking to fill. RN: What are some of the ways you are addressing that need, Kate?
KS: We have incentives, and are prepared to use them! We offer tax abatements, grants and other 8
May 2016
financial incentives on a case-bycase basis. Our incentive programs are listed on our website at www. converseedc.com. Each incentive package needs to make sense, of course, for all parties. We are looking for businesses to not only choose Converse -- but to thrive when they get here! RED News: What are some recent projects that Converse has incentivized?
KS: The City and the Converse EDC recently partnered with a couple developers to install water infrastructure valued at more than $350,000 to spur additional development next to the site of a Walmart Neighborhood Market (currently under construction). Additionally, the EDC contributed $1.2 million toward a $15 million project to widen South Seguin/FM 1516 from two lanes to four lanes with a center turn lane, bike lanes and sidewalks. Construction on that project is scheduled to start in the fall of this year (2016). The Converse EDC also funded $50,000 in infrastructure improvements to Lott’s Landing on FM 78 to directly increase traffic flow to those businesses and funded the City’s Parks Master Plan to improve quality of life for Converse residents and businesses. One project we are about to undertake pending Council action this week is an investment of about $155,000 in Papa Dante’s Italian Restaurant to build a $1.2 million 450-seat event center and Bocce Pavilion. We are excited about what that will do for Converse. Plus we have more projects in the works that I am not at liberty to discuss right now. Suffice it to say, that when we do make those
announcements, there will be a lot of people having a V-8 moment asking themselves, “Why didn’t I go to Converse?” and then, “How soon can I get there?” RN: What kinds of businesses are you targeting? What makes sense in Converse?
KS: Almost every retail sector there is will do well here. However, what we do know is this: we especially need restaurants – full service restaurants and other food service. We also need apparel – women and children as well as mens wear, shoes, sporting goods, hardware, groceries, etc. In addition, we are targeting hospitality (limited service hotels now with hopes of full service/ event space) and entertainment venues. Finally, and not least, we are seeking businesses in the construction industry, the information technology space and manufacturing technologies. Converse is a very young community, with a median age of 32.5. So, our workforce is young and versatile and prone to entrepreneurship. There are over 3,500 students at Judson HS in Converse. We’d like to leverage that young workforce to retain as much of the talent here as possible. But, we are also a bedroom/commuter city in a lot of ways so we’ve learned to be flexible and realistic in our approach to economic development. RN: It sounds like Converse is a hotbed for opportunity, Kate. Is there anything else you’d like to add?
KS: How much time do you have? (Laughter.)
I’d like to also say that we’ve really begun to focus on differentiating ourselves from our competition in some meaningful and memorable ways.
In addition to creative marketing to bring developers to our city, we’re focused on investing our time in our existing business community and building those relationships up as well. That seems to be paying off as we are gaining new ambassadors for Converse as a result of those efforts. People just want to know that they matter, and that we care, and we do. In fact, at the end of April, we celebrated our first anniversary of honoring our long-term businesses in Converse. And there is a great deal that we learn from them. I hear businesses all the time saying how grateful they are for the difference we are making. That isn’t an accident. What is important is that when we help our businesses in Converse succeed and celebrate their success, they too become walking, talking, prophetic ambassadors for Converse. Our goal/my hope is that when Converse businesses are asked about their experience in Converse, their response is so overwhelmingly positive that in the end, other businesses conclude this is the place to be.
There are so many reasons why Converse makes sense to the businesses that come here. We are just so excited about what is coming next! Stay tuned!" l
For all your commercial real estate needs, we’re here to point you in the right direction. LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT Montgomery Trace Retail Center For Lease
20821 Eva St./HWY 105 West, Montgomery
Portofino Plaza For Lease
Woodforest Plaza For Lease
19073 I-45, Shenandoah
6334 FM2920, Spring
• • • •
A Brookshire Brothers grocery anchored center Located in the heart of Montgomery, TX. Great visibility & accessibility to SH 105 and 149. Several 2nd generation retail & restaurant spaces available. • Conveniently located to Walden, Bentwater, April Sound, La Torretta, Grand Harbor & many other exclusive lakeside communities • Less than 1.5 miles from the Montgomery High School campus.
• Located ½ mile north of Research Forest Drive on Interstate 45, approximately 1 mile from The Woodlands Town Center & 5 miles from the Hardy Toll Road & the ExxonMobil Corporate Campus. • St. Luke’s, Texas Children’s, Houston Methodist & Memorial Hermann Hospital campuses are within 1 mile of the shopping center. • Maximum visibility on I-45. • 1,500 SF & 2,250 SF Spaces available.
• Property is located ½ mile west of Kuykendahl at the lighted intersection of T.C. Jester & FM 2920. • Anchored by Woodforest National Bank & Texas Children’s Pediatric Associates. • 2nd generation retail space available (1,340 SF former frame shop). • Great retail, office or medical/professional location with high traffic volume. • Other tenant’s include Southwest Allergy and Asthma, law office & dental office. • Retailers include Super Walmart, Lowe’s, Kroger, Chili’s, Discount Tire, O’Reilly Automotive, among others.
Retail Center For Sale or Lease
Research Forest Plaza For Lease
College Park Plaza For Lease
2626 Research Forest Dr., The Woodlands
1500 Research Forest Dr., The Woodlands
3091 College Park Dr., The Woodlands
• Situated on 1.73-acre lot. • 8,400 SF building, 3,900 SF suite available for lease. • Located across from Research Forest Lakeside Development with nearly 2-million SF of new office improvements under construction. • Great location on the going-home side of Research Forest Drive, one of the main arterials within The Woodlands. • Located approximately 1-1/2 miles west of Interstate 45
• 1,800 SF, 1,500 SF & 1,944 SF spaces available. • Research Forest Drive is one of three main arteries into and out of The Woodlands, which places Research Forest Plaza, located approximately ½ mile west of I-45, in a perfect position for daily commuters that use I-45. • 60’ bay depths, with glass storefronts & covered walk along full length of center.
9.18 Acres For Sale
46 Acres For Sale
2 +/- Acres For Sale
30045 FM 2978, Magnolia
I45/Longstreet, Willis
188 Lexington/ SH 242, Conroe
• Commercial development near the site, at the intersection of FM 2978 & Woodlands Parkway includes Super Walmart, Chase, Whataburger, & more. • Located within 1-1/2 miles, is Westwood Shopping Center, tenants include: Target, TJ Maxx, Ross, Office Max, PetsMart, Gold’s Gym, as well as a Michaels. Pad users include Chili’s, Starbucks, Taco Bell, Chick-fil-A , among others. • New Luxury residential community delivered by Toll Brothers in 2016 just south of Woodlands PKWY on FM 2978. • Application for utility service through Aqua Texas • 494’ FF on FM 2978. • Great opportunity for mixed use development.
• Property consists of 46 +/- acres at the NEC of Long Street & Interstate 45 in Willis. • 2,274 FF on I-45. • Located approximately 17 miles from The Woodlands & 45 miles from Houston. • Site is located on the north end of the City of Willis, located South of New Waverly & North of the City of Conroe. • Property is located in Zone X (to be verified , per Montgomery County Flood Plain Viewer). • Utilities: Available through the City of Willis.
• Up to 3,200 SF of space available • Conveniently located on College Park DR. (SH 242) at Interstate 45 in The Woodlands. • Site is adjacent to St. Luke’s Hospital and The Woodlands College Park High School & across from Sam Houston State University & Lone Star College. • Super Walmart, Lowe’s, At Home, Burlington and Kohl’s are in the immediate trade.
• Property located on the Southeast Corner at SH 242 & Lexington Drive, signalized intersection, consisting of 2+/- acres (three lots). • Located in the growing Woodlands Submarket, approx. 2 miles from I45 and the new Toll access road. • Major growth in the market area to include Methodist Hospital, Texas Children’s, COSCO, Mercedes Dealership & CVS. • Harpers Preserve - Master Planned community located to the east of this site. • Utilities: Currently on Well & Septic. • Current improvements – residential home built in 1976.
9 +/- Acres For Sale
26823 FM 2978, Magnolia • Located within 3 miles of the new Baker Hughes Western Hemisphere facility at the corner of FM 2978 & FM 2920. • Five-lane road improvements on FM 2978 in progress • New luxury community by Toll Brothers across the street under construction, with 850 +/- new luxury homes, 2016 Delivery (Montgomery County). • 390 FF on FM 2978, 1090’ North line, 1090’ South line approximately, 380’ West line. • Great opportunity for future development; Potential Uses: Commercial Development/ multifamily. • Utilities Available.
11 Acres For Sale
32496 Egypt Ln., Magnolia • Direct access to The Woodlands via Research Forest Drive & Egypt Lane. Situated on Woodlands ingress/ egress point. • Nearby national retailers including: Target, Kroger, Ross Dress for Less, OfficeMax, Home Depot, PetSmart, Famous Footwear & Gold’s Gym, Walgreen’s, T.J. Maxx. • Positioned near the heavily trafficked intersection of FM 2978 & FM 1488 with over 60,000 vehicles per day on nearby FM 1488. • Property is situated on the corner of Egypt Lane & Research Forest Drive, under ½ mile east of FM 2978. & approximately 6 ½ miles from I-45. • Utilities available.
5.79 Acres For Sale
Woodlane @ FM 2978, Magnolia • Located within The Woodlands Submarket 1-1/2 miles, is Westwood Shopping Center, development by Regency Center, consisting of over 300,000 SF of inline retail and pad site development, which includes Target, TJ Maxx, Ross, Office Max, PetsMart, Gold’s Gym, as well as a Michaels. Pad users include Chili’s, Starbucks, Taco Bell, Chick-fil-A, etc. • Commercial development south of the site, at the intersection of FM 2978 and Woodlands Parkway is Super Walmart, Chase, Whataburger, and more. • Application for utility service available through Aqua Texas. • New luxury residential community by Toll Brothers south of Woodlands PKWY on FM 2978. • 983.9 FF on Woodlane.
10077 Grogan’s Mill Road, Suite 135 The Woodlands, TX 77380
281.367.2220 jbeardcompany.com May 2016
9
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.
Project Endurance - Courtesy: Greater San Marcos Partnership
Buying into the future: Texas outlook on retail
James Namken
BY BRANDI SMITH
With gas prices down to their lowest prices in years, it might be expected that consumers would rush out to spend all the money they’re saving at the pump. However, it appears they’re stashing that money for a rainy day, creating a sluggish start to 2016. Here in Texas, one of the biggest factors in retail, is the energy industry, but even that varies by BY BRANDI SMITH where you might market. Houston, expect to see fallout from near record-low oil prices, is actually thriving. Despite those historically crude low prices “Most retailers are confused by the discrepancy between their strong sales and the concern about Houston’s economy,” said Kenneth Katz of Baker Katz in Houston. “Fortunately and despite that inconsistency,
the appetite for growth among retailers is very strong and is helping to fuel retail real estate and related industries.”
“Luxury brands and very specific retailers requiring high discretionary income may be scaling down, but on the whole, the retail market is looking to be very stable as the value retailers and essential businesses are growing,” said Lindsey McKean and Kyle Kretsinger, broker and director of research respectively, of The J. Beard Real Estate Co. in Houston. That drop in some high-end sales is also being experienced in Texas’ second-largest city.
“We have seen some luxury retail centers, such as Dallas’ Highland Park Village, where sales have been more erratic this spring, and many store managers believe this may be tied to the oil industry,” said Venture Commercial Real Estate managing partner Mike Geisler.
Lindsey McKean
Kyle Kretsinger
Kenneth Katz
Mike Geisler
*
Brett Morrison
Dan Mitchell
JLL Realty 10
May 2016
Grayson College
Experts in Austin say there’s been “little to no impact” there, but San Antonio has actually seen benefits from the energy industry, specifically production from the nearby Eagle Ford shale.
“Our unemployment rate is well below 4 percent, which in economic terms is considered full employment,” said Dan Mitchell, who is the executive vice president for The Weitzman Group, San Antonio. “The retail market further benefits from population growth that is adding around 50,000 new residents a year.” That staggering growth across Texas is what many insiders think will morph retail as we know it in the years to come. As cities expand and their populations move to builtout areas, development will follow with a few caveats. “Retail does follow rooftops, but it has to be existing rooftops,” clarified Mitchell. “Developers and lenders are not taking a chance on projected residential growth after the housing collapse of 2007 and 2008.”
“In North Texas, we are seeing new retail development in Mansfield, North Fort Worth, south Tarrant County and along the Highway 380 corridor as a result of residential growth in these areas,” Geisler said. “Most of these new retail developments are anchored by grocers or Walmart.”
Even as they follow consumers outside city limits, retailers aren’t ignoring the needs of urban areas. “In the absence of new retail development, the big focus is redevelopment,” said Britt Morrison, who senior vice president of The Weitzman Group, Austin. “Our market is taking B and C centers and reinventing them as Class A retail or mixed-use wherever possible.”
“Retail follows people, regardless of where they might be – in airports, medical centers, universities, office building and their neighborhoods,” Katz said. Added McKean and Kretsinger: “As far as urban retail, in Houston and other large Urban areas, we are seeing a flood of ground-floor retail under office or residential projects. Vertical growth is a must in these areas as available land is scarce and comes at a premium.” In this day and age, when online sales
*
are booming (they’re expected to hit $327 billion in 2016), experts say there will be an impact on brick-and-mortar stores, but not in the way that was predicted years ago. “The contrasting views of the past that declared either the fleeting nature of e-commerce or the death of bricks and mortar have virtually disappeared,” said Katz. “They have been replaced with a widespread recognition and belief the future lies in omnichannel retailing, whereby customers’ purchases will be fulfilled through multiple means and that the most successful companies will be those that capture sales regardless of how customers choose to initiate them.”
“This was one of the most discussed topics at the ICSC Open Air conference this spring,” said Geisler. “Retailers feel they must embrace omni-channel marketing, creating a seamless experience for consumers who can engage with a company across multiple digital devices, social media and brick and mortar stores.” Morrison points out that, as far as Austin is concerned, that approach has been effective in drawing in consumers.
“Online still does not replace going to the dentist or buying a burger for lunch at your local QSR, but for traditional retail tenants, we are seeing them evolve to compete in every arena of retail, whether brick-andmortar or online,” he said.
Other retailers are cashing in on a “clickand-collect model,” explains Mitchell. “You order an item online, and then pick it up in the store, which avoids any shipping costs,” he said. “The great majority of shoppers cross-shop the rest of the store when they come to collect their online purchase. This turns to the store into both a fulfillment center AND increases the sales per square foot for the entire store.”
JLL Realty
As retailers adapt to consumer needs, experts predict a shift over the next five to ten years. One of the more significant May 2016
11
changes may be the tenant mix at new retail centers.
amounts of square footage are now eyeing very different spaces.
“Medical is a much greater factor in today’s centers, along with boutique fitness, health, beauty and the other types of services you cannot replicate online,” added James Namken, senior vice president of The Weitzman Group, Houston. “Restaurants have become a critical tenant category, since landlords see restaurants as a key drive for their projects.”
“There is certainly still the need for large, regional shopping centers. But as big-box tenants such as Best Buy, Dick’s Sporting Goods and Ulta reduce their footprint in order to better allow for efficiencies, the trickle-down leads to shopping centers with less focus on the box users and more room for the expanding small-shop concepts,” said Morrison.
“Ten years, ago dentists, dermatologists, urgent cares and other medical users were almost completely isolated to medical offices,” said Morrison. “Today, they are ubiquitous in the retail world.”
Dallas is seeing a similar trend with an increasing percentage of retail space going to restaurants, according to Geisler.
“For the San Antonio market, grocers continue to dominate new retail construction,” Mitchell said. “The mixes in conjunction with these grocers are strong concepts primarily in the Internet-resistant areas of restaurants, services, beauty, fitness, health and medical and dental.” Another subtle change for development: the evolution of the traditional anchor store.
“Historically, most power centers were anchored by a large user such as Target, Kohl’s or JC Penney,” Katz said. “With the exception of Kimco’s project at the Grand Parkway and Kuykendahl, which will be anchored by Target, none of the new power centers being developed in Houston will have users of that nature.”
“Several big boxes are streamlining their larger concepts and going for a more convenient neighborhood-style space with smaller footprints,” McKean and Kretsinger said.
Mitchell says it’s all about “right-sizing.”
“Take H-E-B, our leading grocer. They are actively expanding several different-sized formats, with the largest being their Plus stores that often top 150,000 square feet,” he pointed out. “But for the growing residential market in downtown San Antonio, the grocer opened the 12,000-square-foot H-E-B Flores Market, sized to fit within an incredibly dense market and serve the needs of urban dwellers. We are not seeing cookie-cutter retail formats any more.”
As the needs of Texas consumers continue to evolve over the coming years, it’s clear local and national retailers are taking note. They’re focused on tailoring their approach to the demand when it comes to location, size and shopping options to further incentivize spending and strengthen the economy. l
Many of the retailers that have historically sought out massive
*
*
JLL Realty 12
May 2016
Excerpts from JLL's Top Trend in Texas Retail presented at ICSC Texas Retail Focus, January 25, 2016
W * Minutes from Deerbrook Mall & Big Box Stores * Single & Multi-family, Medical & Financial nearby * Close to Airport and I-59 * Accessible from FM 1960 & Humble Westteld
* Lighter Arena, Announcer’s Stand, Multiple Barns * Unrestricted Working Horse Facility * Office & 4 bd, 4.5 bth House on site * Walker, Chutes, Shop, Hay barn, Fenced, X-Fenced
* 225 ft Hwy 290 Frontage, 490’ Depth * 4 Separate Buildings - Currently Showroom Set Up * Potential Retail, Office/Showroom, Specialty Use * Total 4,404 Building Sq Footage. Parking. Fenced,
* Close to Downtown Tomball Grand Pkwy, 249 * Current Survey Available * Great Residential Development Potential. * Unrestricted. Will subdivide.
* Dallas Suburban Community * Close to Hwy 175. Access from CR 4104, 4106 & 4116 * Water service available through existing easement * 27 mi to Downtown Dallas.
* 1,125 ft Hwy 6 Frontage. Unrestricted. * College Station to Houston Route * AG Exempt. Gated. Fenced, X-Fenced. * Home/Office, Barn, Arena, Storage & Pond
* Equestrian Facility - All New Construction * 16 Stall Barn, Office, 130 X 70 Arena, Round Pen * Vet Lab, Palpatation/Insemination Chute, Barn Bath * Unrestricted. Cleared. Fenced & X-Fenced.
* Close to Memorial Hermann Northeast & Rehab * Behind Multiple Car Dealerships * Easy Access to Intercontinental Airport * Unrestricted. Close to I-59, Will Clayton Pkwy, FM 1960
* UNRESTRICTED, I-10 Access. 27 miles to Downtown. * 6772 SF +5616 SF Bldgs - Great Club House/Conference * Two 350’ Wells - one Commercial. 3 Phase Power. * Equestrian Center. High Fence. 25 meter 3 lane pool.
* Unrestricted. 4 miles south of 290. * Currently AG Exempt for Hay Production. * Pastures. Fenced. Great Building Site. * Survey Available,
* Unrestricted Ranch with Cattle Set Up * Two Barns, Lighted Roping Arena, Two Ponds * Gated, Fenced, X-Fenced * Custom Estate Home w 4 beds, 3.5 baths
* 4909 SF Office including 2555 SF Executive Offices * 11619 Manufacturing Warehouse + Storage Bldgs * 3 Phase. Crane Ready. 4 Roll Up Doors. 3 Ramps * 17301 SF Concrete paving. Detention pond,
JLL Realty
May 2016
13
JOHN BRAUN, CCIM, CPM 16821 Buccaneer Ln Suite 106 Houston, TX 77058 jsbraun_1@yahoo.com
(281) 286-6500 | BPRhouston.com
jsbraun_1@yahoo.com 6000 Broadway Galveston, TX 77551
20,500 SF |Industrial for Sale • 20,500 SF Office/Showroom • 14’ Clear Height • Multi-Tenant • 1.10 Acres • $775,000
1100 Hercules Houston, Tx 77058
77,022 SF Office /R&D for Sale or Lease
40,000 SF Office/Office Warehouse for Sale
• Aerotech Business Park • 800 SF – 30,000 SF Contiguous • $10 - $15.50/SF
• 16,000 SF Tilt Wall & 24,000 SF Metallic • Great visibility from HWY 146 • Much upside potential • $2,400,000
HWY 270 (SH 3) @ Hewitt League City, TX 77573
1118 N. Main (aka HWY 35) Pearland, TX 77581
5.95 Acres For Sale
27,000 SF Industrial for Sale
• 1000 FF on Hwy 270 • Next to new multi-family & another coming soon • One block from booming area of League City • Additional acreage available • $1,684,683
• Located on HWY 35 near Beltway 8 • Multi-tenant metallic business park • 16’ Clear heights • 1.34 Acres • $1,200,000
9700 Almeda Genoa Houston, TX 77075
9,250 SF Office Warehouse for Lease • 74,100 SF well cared for development • 1,250 SF minimum – 3,750 SF maximum available • Just inside Beltway 8; close to Hobby Airport • 9.25 acres land • $.65 - $.80 SF
N. 10th & N. 11th St. 400 N. 10th St. LaPorte, TX 77571
12518 Foxton Houston, TX 77048
17,667 SF Industrial for Sale • Property has (2) 10-ton, (1) 5-ton & (2) 2-ton cranes • (2) 16’ doors & 5 smaller ones • Grade level; 16 amps of power • 2.94 acres & 1.56 is fenced • $1,200,000
6815 Stewart Road Galveston, TX 77571
5600 SF Warehouse/ Showroom for Sale • Fully Air Conditioned • Property can have multiple uses – ideal for showroom/warehouse • 18’ Ceiling Height/ Built in 2006 • High visibility • $474,900
15200 Middlebrook Dr Houston, TX 77058
14,256 Office/Office Professional for Sale • Nice building in park like setting • Close to NASA & UH Clear Lake • One of two buildings in business park with professional tenants • $1,500,000
A NDY F LACK, B ROKER
TIMBER + dirt
(936) 295 - 2500 WWW .H OME L AND L AND . COM
Whole Tract Offering Managed Timberland
T RINITY F OREST Trinity County, Texas
First Capital Advisors Expands their Texas Portfolio with Austin Branch Office
First Capital Advisors, LLC is a commercial real estate investment firm that owns, operates and acquires high quality real estate assets throughout the United States. ”Opening our first branch office in Austin is a strategic step for our firm,” said Chris Pope, CEO of First Capital Advisors. Austin gives us the ability to manage the assets we own throughout Texas more efficiently and, at the same time, continue to grow our firm through acquisitions statewide.” Heading up the Austin office is Andrew Cone, Multifamily Acquisitions & Asset Manager – Southern Region. Andrew will be responsible for the growth of multifamily acquisitions across Texas, managing our current southern multifamily portfolio, as well asset managing our retail center.
501 W 5th St / Austin Texas 78701 www.fca-grp.com
May 2016
15
LEVCOR, INC. RETAIL SHOPPING CENTERS THROUGHOUT TEXAS
Sherman Waco
El Paso
Houston Del Rio Eagle Pass Laredo Pharr
LEASING INFORMATION Dan Smith 713.268-3716 dsmith@levcor.com
16
May 2016
1001 West Loop South, Suite 600 Houston, TX 77027 www.levcor.com
RETAIL SPECIAL FOCUS
POINTE WEST
±219 ACRES WEST END OF GALVESTON ISLAND, TEXAS Kristen McDade +1 713 577 1808 kristen.mcdade@cbre.com
May 2016 Nolan Mainguy 17 +1 713 577 1841 nolan.mainguy@cbre.com
18
May 2016
RETAIL LEASING OPPORTUNITY HIGH GROWTH SUGAR LAND! HI
JOIN OUR GROWING RETAIL COMMUNITY IN CONROE, TEXAS
G
HW AY
SI T
Y
BL VD
6
ER
HI
UN
IV
G
BO
N
AV E
HW AY
6
N
TU
RE
SITE
W AY
UNIVERSITY PLAZA
• Bonaventure Place at The Crossing at Telfair
• Beautiful two-year young 34, 056 SF Retail/ Office Center with great visibility & access • 3500 SF Build to Suit Pad Site Available Excellent for drive-thru restaurant for early morning traffic heading for US 59, US 90 Alt and Hwy 6 • 1974 SF & 2947 SF – Ground Floor Retail/ Office Space • 5300 SF & 4890 SF 2nd Floor Space Available • HEB across the street & Hilton Garden Hotel behind the center
Just north of Houston, a growing retail base awaits you in Conroe. Surrounded by lush forests and 22,000-acre Lake Conroe, Conroe is a very livable community with a low crime rate, excellent health care, award-winning schools, a vibrant downtown and arts community, an excellent cost of living and an incomparable quality of life. 18.06% population growth since 2010
Shaikh Ahmed KW Southwest Realty 281-857-7490 Afaqemail@hotmail.com
Large master-planned mixed-use developments underway 140,000 cars per day travel along I-45 in Conroe $50,632 per year average HH expenditure
C
CITY OF CONROE
Come see us at Booth #S-390N • 936-538-7118 • gcedc.org
www.tarantino.com NORTH MAIN SHOPPING CENTER
550 GREENS PARKWAY
1505 S. HIGHWAY 6
TOWNSHIP SQUARE
1001-1017 Main Street Liberty, TX 77575
550 GREENS PARKWAY Houston, TX 77067
1505 S. HIGHWAY 6 Houston, TX 77077
3340 FM 1092 Missouri City, TX 77459
• Former H-E-B Box, 30,000 SF Available • Located in the Heart of Liberty • Shadow Anchors: Family Dollar, Baskins Western Wear, American Mattress, Baytown Seafood
• Full Building, 72,000 NRA Available for Lease • New Ownership • Beautiful Atrium Lobby, High End Finishes & Lush Landscaping • Secured Covered Parking
NORTHCHASE BUSINESS PARK
7660 WOODWAY
14505 TORREY CHASE BLVD Houston, TX 77014
7660 WOODWAY Houston, TX 77063
• 1,000-40,000 NRA Available • Completely Remodeled in 2015 • Private Corner Balconies on Upper Floors • Located near FM 1960 & I-45 in Champions Forest
• 1,117-10,551 SF Available • Lobby & Common Areas Remodeled • Covered Two (2) Story Parking Garage • Located near the Energy Corridor
• Up to 6,882 SF Retail Space Available • Easy Access to Highway 6 & U.S. Hwy 59 •
PASADENA PROFESSIONAL
908 EAST SOUTHMORE
FOR SALE
3315 BURKE ROAD Pasadena, TX 77504
• Up to 16,014 NRA Available • • Renovated in 2014 • Property Secured by Security Gate & Card Key Access
908 E. Southmore Blvd. Pasadena, TX 77502
• • Fully Remodeled Lobby & Common Areas • Conveniently Located Across Bayshore Medical Center • 100% Occupancy
•
Building • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance
WOODFOREST SHOPPING CENTER
SUGAR POINT SHOPPING CENTER
BAY COLONY CENTER II
ASHFORD PROFESSIONAL
10907-11095 I-10 East Houston, TX 77029
9920 Hwy 90 Sugar Land, TX 77478
650 FM 517 Dickinson, TX 77539
909 Dairy Ashford Rd Houston, TX 77079
• Up to 30,979 SF Available • End Cap Available • NWC I-10 E Frontage @John Ralston
• Hard Corner of Hwy 90 & Dairy Ashford • Up to 2,170 SF Available • Great Co-Tenancy •
CORPORATE OFFICE: 7887 San Felipe Houston, TX 77063 (713) 974-4292
• 2,550 SF Available • 22,745 SF Shopping Center • Located at FM 517 & Hansen Dr. • Three Access Drives to its Parking Lot
SAN ANTONIO OFFICE: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222
• • Renovated in 2008 • Up to 2,392 SF Available • Services the Memorial & Surrounding Neighborhoods
AUSTIN OFFICE:
502 East 11th Street, #400 Austin, TX 78701 (512) 302-4500
listings FOR SALE > PREMIER DEVELOPMENT SITE
± 16.72 Acres
FM 529 AND FRY ROAD, HOUSTON, TX 77449
FOR SALE
Premier Development Site 529 and Fry Rd. +/-16 Acres FM Houston, TX 77449 Property Overview > Pricing:
$3,,824,000 ($5.25 SF) (whole tract)
> Available Acreage: +/- 16.7244 Acres
> Grand Parkway is now open, located 3 miles west of the property
> Utilities: Harris County MUD #157, Tax Rate: $0.845 • Pricing: $3,824,000 ($5.25 SF)> (whole tract) > Flood Plain: Not located within the 100 year flood plain FM 529 widening is now complete > Detention: Regional Detention Pond available • Available Acreage: +/16.7244 Acres > Key Map: 406Q Click here for additional information • Utilities: Harris County MUD #157, Tax Rate: $0.845 • Not located within the 100 year flood plain • Detention: Regional Detention Pond available • Grand Parkway is now open, 3 miles west of the property CHRISTOPHER D. WINTERS 713 830 2106 HOUSTON, TX chris.winters@colliers.com
BILL BYRD, CCIM, SIOR 713 830 2131 HOUSTON, TX bill.byrd@colliers.com
COLLIERS INTERNATIONAL 1233 West Loop South | Suite 900 Houston, TX 77027 www.colliers.com
colliers.com/p-usa1001160 CHRISTOPHER D. WINTERS Principal | Director +1 713 830 2106 chris.winters@colliers.com
FOR SALE > PREMIER DEVELOPMENT SITE
A SELECTION OF COLLIERS INTERNATIONAL AVAILABLE RETAIL INVESTMENT OPPORTUNITIES
11.77 Acres
FM 529 AND FRY ROAD, HOUSTON, TX 77449
FOR LEASE
FOR SALE
Plantation Village Shopping 401-443 This Way St. Center Lake Jackson, TX 77566
Premier Development Site 529 and Fry Road 11.77 Acres FM Houston, TX 77449
• • • • • • • •
• • • •
Size: 57,167 GLA Acreage: 5.0 Acres Parking: 242 Spaces: 4.23/1,000 GLA Available Lease Space: 900 - 7,500 SF Annual Base Rent: $18.00 - $25.00/SF NNN NNN Charges: $3.71/SF (2016) Lease Term: 3 - 5 Years Pad Site: Ground Lease Opportunity
colliers.com/p-usa1006696
Property Overview > Pricing:
> Grand Parkway is now open, located 3
$3,589,000 ($7.00 SF)
miles west of the property
> Available Acreage: 11.77 Acres > Utilities:
Provided by Harris County MUD #157
> Access Easement in place to Fry Road
Pricing: $3,589,000 ($7.00 SF) > Key Map: 406Q > Detention: On-site detention required Available Acreage: 11.77 Acres > FM 529 widening is now completed > New Fiesta anchored#157 retail center now Utilities: Provided by Harris County MUD open Flood Plain: Not located within the 100 year flood plain Click here for additional information • Detention: On-site detention required • Key Map: 406Q • Grand Parkway is now open, 3 miles west of the property > Flood Plain:
Not located within the 100 year flood plain
CHRISTOPHER D. WINTERS 713 830 2106 HOUSTON, TX chris.winters@colliers.com
BILL BYRD, CCIM, SIOR 713 830 2131 HOUSTON, TX bill.byrd@colliers.com
COLLIERS INTERNATIONAL 1233 West Loop South | Suite 900 Houston, TX 77027 www.colliers.com
colliers.com/p-usa1001198
SERVICES PROVIDED Acquisitions | Investment Sales | Leasing | REO Dispositions | Asset Management CHRISTOPHERWINTERS.COM
The Woodlands, TX
Retail opportunities available in two award-winning master planned communities. HUGHES LANDING 175,000 SF anchored by Whole Foods Market® and Restaurant Row
Cypress, TX
MAKE YOUR BUSINESS THRIVE.
LAKELAND VILLAGE CENTER 20-acre village center/mixed-use development and 1.96-acre pad site anchored by CVS/pharmacy
CREEKSIDE PARK VILLAGE GREEN 60-acre village center anchored by H-E-B and Walgreens WATERWAY SQUARE®/THE WOODLANDS TOWN CENTER Limited opportunities available
PARKLAND VILLAGE CENTER Future village center/mixed-use development on the northwest corner of Fry Road and Tuckerton Future BRIDGELAND TOWN CENTER
To learn more about leasing opportunities, please contact Rip Reynolds at 281-719-6125 or Rip.Reynolds@howardhughes.com or visit TheWoodlands-Commercial.com. 16TWD_2546_RedNews_CoBranded_RetailAd_4.indd 1
May 2016
21
4/19/16 4:15 PM
FOR SALE: ±21.3 Acres
•
Largest contiguous undeveloped land site in the Texas Medical Center
for more information, contact
•
±21.3 acres at 1500 Old Spanish Trail
•
Premier inner-loop redevelopment opportunity
Jeff G. Peden, SIOR 713 963 2880 jeff.peden@cushwake.com
•
Excellent ingress/egress to major freeways and business centers
•
Served by METRORail’s TMC/Smith Lands station
•
Dr. Robbins, president and CEO of the Texas Medical Center, says of the new TMC3 research campus, ‘This could be a real epicenter to transform that parking lot into a transitional research campus that would be the city center for the Texas Medical Center.’
Joseph E. Peddie 713 877 8380 joe.peddie@cushwake.com David L. Cook, SIOR, CRE 713 963 2888 david.cook@cushwake.com Tim D. Relyea 713 877 8752 tim.relyea@cushwake.com
TCP Realty Services
Prime Industrial & Retail Space for Lease Immediate Occupancy Available
Blue Bell Industrial Park
Main Place Shopping Center
211-271B Blue Bell, Houston, TX
1800 South Main Street, McAllen, TX
Easy access to I45 & Beltway 8
Just West of La Plaza Mall
• • • •
3,500 – 30,000 SF Gated driveways Grade level & up to 18’ ceilings Individual Tenant Signage
8021 – 8193 Antoine, Houston, TX
Located at Antoine & Gulf Bank Drive
• 1,000 – 25,000 SF • South of Expressway 83 & 9 miles North of Mexican Border • Major Tenants: Cinemark Theaters, Dollar General, Kirklands
Rubin Kremling, CCIM, CPM
713-243-6850
Inwood Central Shopping Center
• • • •
1,200 – 3,900 SF Strong Traffic Count Property consists of 83,876 SF total Tenants Include: DD's Discounts, Dollar General, and Discovering Me Academy
rkremling@tcprealty.com
Superb Prestigious Corner Location SEC Mason Rd & Fry Rd., Cinco Ranch Lease Offering Data
Space Available:
15,000 +/- SF (can be subdivided-call for terms) Space Condition: 2nd Generation Term: 5+ years (negotiable) Base Rental Rate Space: $24.00 PSF NNN NNN Charge (2015 Est): $11.00 PSF/Year (Landlord paying electric!) Parking Ratio: 4 per 1,000 SF • • • •
Property Data/Attributes
5005 S. Mason Road, Katy, TX 77450 Newly Constructed 2010 Two Story Building Easy access to Grand Parkway and West Park Tollway Area Demographics
2013 Total Pop.*
FOR LEASE
2013 Avg. HH Income*
1-mile
3-mile
5-mile
11.857
105.681
202.320
$199,351
$132,960
$124,086
*Demographic Data Source: ESRI 2015 Forecast
Contact: Roxanne Edmond 281.391.9252 Roxanne@wolverinepm.net
ms
civil fair play
Spotlight on Foreign Invesment: what’s driving overseas money to Texas?
Jack Fraker
BY BRANDI SMITH
Right in the heart of downtown Houston, construction is underway on a 20-story tower, which will soon be home to 100 different residences. Marlowe Houston is situated in one of the most sought-after locations in a thriving market, making it an ideal investment opportunity and foreign investors took notice Marlowe is managed, in part, by Houston EB5, an organization based in Houston that works to connect interested foreign parties with projects and opportunities. Houston EB5 is working on five projects, two of which are still in need of funding: District Lofts in Sugar Land and Arabella Houston. The developments are just the latest examples of money pouring in from other countries as foreign investment has skyrocketed.
“A safe haven for your investment”
“It's really true. There is significantly more direct foreign investment these days than there has been in years past,” said Jack Fraker, vice chairman and managing director of CBRE’s Capital Markets Industrial Practice. “The investments are direct and not just through a commingled fund vehicle.” In fact, according to Real Capital Analytics, foreign purchases of U.S. real estate have seen 24
May 2016
a tremendous increase since the recession. In 2015, they totalled $87.3 billion. That’s up from just $5 billion in 2009. “Foreign investors are looking outside the top tier coastal markets such as New York City, Washington, D.C., Los Angeles or San Francisco,” Fraker said. “They are also starting to look at different asset types and they are looking at different geography, including noncoastal markets.” As staggering as 2015’s number are, it appears 2016 will be even better. According to the 24th annual survey by the Association of Foreign Investors in Real Estate (AFIRE), 65 percent of foreign investors say they have plans to increase their investment here.
“The United States is still the leading economy in the world. It's definitely considered a safe haven for investment by foreign investors,” Fraker said. That survey also revealed that the United States is still considered the “most stable and secure” country for real estate investments, according to the majority of respondents. Though no Texas cities top AFIRE’s list of most sought-after investment locations (New York, Los Angeles and San Francisco are ranked 1, 2 and 3, respectively), the state is still a go-to for foreign investors. “It's no secret that Texas has the best
population growth and the best job growth in the country,” said Fraker. “In and of itself, the Texas GDP would make it one of the top economies in the world. It is a very diverse economy and so are the population base and job opportunities.”
That impressive growth has definitely caught the attention of overseas investors, looking to get some extra bang for their bucks.
“Big office buildings in Houston have set record prices. Many of which were sales to foreign investors,” Fraker said. “The same is true for Dallas. It's not just the office properties. Largescale logistics and industrial platforms have been sold to foreigners. Multi-family housing is also popular asset now for foreign investors.”.
“It's bringing a lot of capital”
One of the key tools in bringing foreign money into the U.S. and Texas is the Employment-Based Fifth Preference program, better known as EB-5.
Created by Congress in 1990 as a way to create jobs and increase foreign investment, EB-5 permits foreign nationals to obtain a visa by investing at least $500,000 in U.S. businesses. There are some caveats, including that the money must directly or indirectly employ at least 10 Americans. The investments generated by EB-5 are funneled through about 800 regional development centers located around the U.S. “EB-5 is a great opportunity to import capital and also allow for citizens from abroad to get US citizenship,” said Fraker. “Some of the biggest projects in Manhattan, for example, have equity through EB-5. It's also very active here in Texas with office development, large-scale residential projects and certainly Continued on page 29
DEVELOPING IN TEXAS? WE’VE GOT YOU COVERED!
May 2016 ENGINEERS. PLANNERS. SURVEYORS. // WWW.JONESCARTER.COM
25
26
May 2016
RETAIL
LOCATIONS IN HOUSTON PAD SITE AVAILABLE
FRY ROAD MERCADO North Fry Road & Clay
1 Acre Pad Site Available
• New Development Coming Soon! • Up to 7000 SF Available
NEW DEVELOPMENT
ALDINE PLAZA PHASE II Aldine Westfield & Aldine Mail Route
4,000 SF Available
• Construction Complete • Up to 4000 SF Available
REDEVELOPMENT COMING SOON Danny Kuperman
DEER PARK REDEVELOPMENT
SEC of Center St & Pasadena Blvd • HEB Redevelopment Coming Soon! • 15,000 SF Available (can be subdivided)
National Gym
dkupe2000@yahoo.com AmericanRealtyHouston.com 713-439-0101
Bri Martinez
brisehyda@gmail.com AmericanRealtyHouston.com 713-439-0101
American Realty
FOR LEASE RETAIL SPACE FOR LEASE RETAIL SPACE
• Shopping center size 75,620 SF - Built in 1985 Shopping center size ••Retail space available st 75,620 Built SF in 1985 (1 floor)SF- -1,600 • -Retail available + NNN 4,000space SF - $13.00/SF (1st floor) - 1,600 SF • Aggressive lease terms - 4,000 SF - $13.00/SF + NNN • Pylon signage available • Aggressive lease terms • Traffic counts - 82,880 CPD •(Westheimer) Pylon signage available Traffic - 82,880 ••+/592’counts of frontage on CPD (Westheimer) Westheimer +/- 592’ of frontage ••372 surface parking on Westheimer spaces available • 372 surface parking spaces available
Woodland Park Shopping Center 11380 Westheimer, HoustonCenter 77077 Woodland Park Shopping
1 1
11380 Westheimer, Houston 77077
• 2 blocks west of Beltway 8 ••2,952 SF -west 2nd of floor 2 blocks Beltway 8
••Excellent retail, 2,952 SF -for 2nd flooroffice or professional use • Excellent for retail, office or professional use
Kaleidoscope 10612-10692 Westheimer, Houston, 77042 Kaleidoscope 10612-10692 Westheimer, Houston, 77042
2 2
Kenneth K.Y. 281.467.3535 281.467.3535 713.988.0888 x108
A 28A Realty Co May 2016 A A Realty Co
Accredited Management Organization
Accredited Management Organization
Leung
713.988.0888 x108 eleung8888@aol.com eleung8888@aol.com www.aarealtytx.com www.aarealtytx.com
1 1
2 2
Beltway 8 West Beltway 8 West
For more information For more information Kenneth K.Y. Leung
Westheimer Rd Westheimer Rd ay Westpark Tollw ay Westpark Tollw
hotels. Even in the logistics sector, you're seeing EB-5 financing is available.”
The program is booming. For example, in the first quarter of 2015, there were 2,941 EB-5 applications. The first quarter of this year saw more than double that: 6,277 applications. However, as interest grows, the approval rate has dropped. It was down to 20 percent in 2015. So who’s applying for the EB-5 program? The bulk of interest comes from China; 80 percent of applicants are Chinese. In 2015, more than 8,000 of the approved applications were given to Chinese nationals, compared to 88 for Russians and 62 for Iranians.
"It's no secret that Texas has the best population growth and the best job growth" - Jack Fraker "I don’t believe that America should be selling visas and eventually citizenship" - Sen. Sen. Dianne Feinstein
February, Texas John Cornyn came to the program’s defense, saying, “Mend it, don’t end it.” Another EB-5 supporter is New York Sen. Chuck Schumer. He says the program has generated $8.7 billion and more than 35,000 jobs since October 2015. As Congress evaluates EB-5’s value, one Texas attorney is hopeful about its future.
“I’m still holding out hope,” said Shae Armstrong, who represents clients involved in EB-5 projects. “We’re so close to getting it right.”
“The capital markets are truly global these days”
vital part of foreign investment in the U.S. However, due to the security and stability of the American economy, experts say overseas money will always play a significant role in real estate investment. “There has also been recent changes in foreign tax legislation (FIRPTA), which will make it easier for foreign investors to invest in the U.S.,” Fraker said. But just as people from outside the United States want to pool their money here, American investors are looking for opportunities overseas as well.
Said Fraker: “The capital markets are truly global these days.” l
Assuming Congress preserves EB-5 in some way, the program will continue to be a
“It's getting very smart, new immigrants and it's bringing a lot of capital, which will help finance great projects and also create jobs,” Fraker said. A few of those projects are those managed by Houston EB5, including Marlowe Houston. The organization touts its team of professionals who “work diligently to provide assistance at various stages of the EB-5 Program application process.”
“We’re so close to getting it right.”
EB-5 has come under scrutiny recently after cases of fraud surfaced. Some in Congress have called for the program to be shut down or, at the least, reworked.
“I don’t believe that America should be selling visas and eventually citizenship,” said California Sen. Dianne Feinstein. “The right to immigrate should not be for sale.” However, during a hearing on the issue in
Courtesy: Randall Davis
May 2016
29
Environmental Due Diligence Can Get Sticky. 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
Golden Triangle Mall
events
BOMA AUSTIN bomaaustin.org BOMA SAN ANTONIO bomasanantonio.org CCIM ccimtexas.com CETA cetalliance.com CREW AUSTIN crewaustin.com CREW SAN ANTONIO crew-sanantonio.org CTCAR ctcaronline.com
CENTRAL SOUTH TEXAS May 2016 Calendar MONDAY
TUESDAY 2
IREM & BOMA Austin Summer Drive benefiting Mobile Loaves & Fishes 12:00am
NFMT Austin High-Performance Buildings Conference & Expo 5/3/2016-5/4/2016
WEDNESDAY 3
IREM AUSTIN iremaustin.org IREM SAN ANTONIO iremsanantonio.org RECA AUSTIN reca.org REC San Antonio www.recsanantonio.com ULI AUSTIN austin.uli.org ULI SAN ANTONIO sanantonio.uli.org
THURSDAY 4
NFMT High-Performance Buildings Conference & Expo 5/3/2016-5/4/2016
CREW Austin Special Events Committee Event Details
FRIDAY 5
BOMA San Antonio Golf Tournament Boerne, Texas
6
CREW Austin Communications Committee
ULI Austin Program Committee Meeting
IREM San Antonio Board & Committee Chair Meeting 7:30am CTCAR Austin Property info Exchange 7:30am -9:00am
9
Multi-CRE Organizations 16th Annual Power Luncheon. 11:30am - 1:00pm
CREW San Antonio Luncheon. Tom Jones, Aviation Director, City of San Antonio
10
11
RECA City of Austin Policy Committee Meeting - Members Only
CREW Austin Board Meeting
13
12
CTCAR Property Information Exchange 7:30am - 9:00am
RECA Membership Committee Meeting - Members Only 12:00 pm - 1:00 pm
IREM San Antonio Chapter Luncheon 11:30am - 1:00pm Molly Cox
16
17
18
CTCAR CE COURSE "Navigating the BOMA Measurement Standards" 12:30 pm - 3:30 pm
ULI Austin Young Leaders Committee Meeting 7:30am IREM San Antonio Learn @ Lunch 11:30am - 1:00pm
ICSC Las Vegas May 22nd - 25th
23
ICSC Las Vegas May 22nd - 25th
24
BOMA Austin Shoot Out Committee Meeting 11:30 am - 1:00 pm
25
19
20
26
27
UIL Austin Management Committee Meeting 11:30am UIL San Antonio Young Leaders Mixer 5:30pm8:30pm RECA May networking Happy Hour 5:30pm - 7:30pm
BOMA Austin Board of Directors Meeting 7:45 AM - 9:15 AM
CREW Austin Membership Committee Meeting ICSC Las Vegas May 22nd - 25th ULI Austin Breakfast Series South Central Waterfront 7:30am
30
32
May 2016
31
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 SOUTHEAST TEXAS TEXAS SOUTH
CREW San Antonio MONTHLY LUNCHEON
Above: San Antonio members& Attendees enjoying the CREW luncheon
October 2015
May 2016
social
CREW Austin
MONTHLY LUNCHEON Top: Special thanks to our UCREW & Sponsorship Committee volunteers for a job well done: Helen Jobes, Ashley Teyki, Evonne Jones & Elise Giles Above: Patricia Rayburn of Valtera Realty, Neal Spelce, Austin Letter, Laura Webb, CohnReznick Below: Members enjoying luncheon Bottom: Patricia Rayburn & David Emmeritus
CTCAR
MONTHLY LUNCHEON
CREW San Antonio 2016 FORUM
April 2016 Forum
Above: Juan Garza & Christie Garbe, both from Central Health and Dale Glover of Rainey Co, Cathleen Slack of Smith Robertson & DeLea Becker of Beck-Reit Commercial
May 2016
33
events
BOMA DALLAS bomadallas.org BOMA FORT WORTH bomafortworth.org CORENET NORTH TEXAS northtexas. corenetglobal.org CREW DALLAS crew-dallas.org CREW Fort Worth crewfw.org/ IREM DALLAS irem-dallas.org
NORTH TEXAS
May 2016 Calendar MONDAY
TUESDAY 2
BOMA Fort Worth Monthly Luncheon 11:30am
WEDNESDAY 3
REC GFW Bluebonnet Circle and Riverside/Berry Urban Village Bus Tour
9
THURSDAY 4
NTCAR Hall of Fame Induction & Reunion 5:30 pm - 8:00pm
IREM Dallas Executive Council Meeting CREW Fort Worth 2016 CREW de Mayo Golf Tournament 10:30am
REC GFW Urban Village Bus Tour! 4:30 PM to 7:00 PM
10
11
CREW Fort Worth Luncheon 11:30am - 1:00pm
NAIOP NT Board of Directors Meeting 7:30am CREW Dallas Dine Around 6:30pm
16
BOMA Dallas Monthly Luncheon 11:00am 1:00pm
17
IREM Fort Worth BBQ 12:00pm-3:00pm
CREW Dallas Dine Around 6:30pm
FRIDAY 5
NTCCIM Topgolf Competition Topgolf-The Colony 3:00 pm - 6:00pm
NTCAR Office Tour – CBD/ Uptown/ Arts District 11:00am-4:00pm
6
BOMA Fort Worth FW Golf Invitational 10:00am CREW Dallas Ground Breakers Concert 7:30pm
BOMA Fort Worth Committee Meeting 12:00pm
Scott Welmaker
IREM FORT WORTH www.fortworthirem.org NAIOP northtexasnaiop.com NT CCIM chapters.ccim.com/northtexas NTCAR ntcar.org REC OF DALLAS recouncil.com REC OF GFW recouncilgfw.com UIL NORTH TEXAS northtexas.uli.org
18
CREW Dallas Monthly Luncheon 11:3 0am-1:00pm BOMA Fort Worth Lunch & Learn 11:30am -1 :00pm
IREM Dallas Member Luncheon 11:30am
12
REC Dallas FightNight 6:30pm
BOMA Dallas BOMI Course: Ethics is Good Business, Short Course
13
CREW Dallas Dine Around 6:30pm ULI Breakfast Forum 7:30am - 9:30am
REC GFW Panther Den - a YLC Urban Design Competition 11:00am 4:00pm
19
BOMA Dallas Foundation Board of Directors Meeting
20
CCIM North Texas Luncheon 11:30am - 1:00pm BOMA Fort Worth CSC Meeting 11:30am REC GRW The Panther Den 11:00am Registration
23
24
BOMA Dallas “Superhero” Trade Show 2:00pm-7:00pm
25
BOMA Fort Worth Board Meeting 12:00pm BOMA Fort Worth CSC Premier Jewelry Party 10:am NTCAR Commercial Investment Analysis & Case Study 8:00am-5:00pm
30
34
May 2016
NAIOP NTC Luncheon 11:15am
26
27
IREM Dallas Happy Hour and Building Tour 4:30pm BOMA Dallas Board of Directors Meeting Corenet Fedex HQ Tour 5:30pm - 8:00pm REC Dallas High Speed Rail Transforming Texas 7:30am
31
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
BOMA DALLAS ADOPT A BLOCK
Above: Members participate in Adopt a Block
CREW FORT WORTH
COCKTAILS & CONVERSATIONS: a unique and inspiring event to mix members with experience levels. Crew Members networking at the home of Noelle Garsek, on April 4th. (Above)
October 2015
May 2016
social
CREW FORT WORTH
LUNCHEON & 2015 AWARDS PRESENTATION From Top: Riley Kiltz, Monica Luera, Christopher Goggin, Mike McKeown, & Ashley Carter Nina Petty, Paxton Motheral, Carrie Marquis
REC GREATER FORT WORTH BOMA DALLAS
BOWLING TOURNAMENT at Bowlmor Left & Above: Tournament winners, participants
ANNUAL MEETING Above: Early Davis, Paul Paine
Gary Walker, Casey Tounget. Paul was awarded the 2016 Susan A. Halsey Founders Award May 2016
35
events
ACRP acrp.org BACREN bacren.com BOMA HOUSTON houstonboma.org CCIM HOUSTON ccimhouston.org CORENET houston.corenetglobal.org C.R.E.A.M. creamtx.com CREN crengulfcoast.com CREW HOUSTON crewhouston.org
SOUTHEAST TEXAS
May 2016 Calendar MONDAY
TUESDAY 2
WEDNESDAY 3
CREW Houston Luncheon 11:30am - 1:00pm
IREM Houston Fashion Show and Fundraiser 5:30 pm
THURSDAY 4
CORENET Houston Spring Social: 5:30pm-7:30pm
Greater Houston Partnership Economic Council 11:00am - 1:00pm
FBSCR fbscr.com GREATER HOUSTON PARTNERSHIP houston.org HREC houstonrealestatecouncil.org IREM HOUSTON iremhouston.org NAIOP naiophouston.org O'CONNOR & ASSOCIATES poconnor.com ULI houston.uli.org
Greater Houston Partnership HYPE Networking Social 5:30pm
FRIDAY 5
CCIM Houston 2016 / Energy Conference May 5-6, 1:00pm Golden Nugget Casino/Lake Charles, LA
6
CREN Houston Luncheon 11am-1pm CCIM Houston 2016 / Energy Conference May 5-6, 1:00pm Golden Nugget Casino/Lake Charles, LA
ACRP Cinco de Mayo Happy Hour 5:00 - 7:00 PM
Steve Murdock BOMA HOUSTON - RPA/ FMA Course – The Design, Operation, and Maintenance of Building Systems, Part I May 9-12
9
10
CORENET Houston Monthly Meeting: 7:30am-9am
11
12
ACRP Cocktails/Networking 5:00pm-7:00pm
ACRP Inshore Invitational Fishing Tournament
13
CREAM Economic Update, 11:00am IREM Houston Public Policy Committee Meeting 11:30am
16
FBSCR Greater Fort Bend Economics Development Council 8:00am-9:00am
17
O'Connor & Associates Land Forecast Lunch 11:30am - 1:00pm
18
19
BOMA Houston Expo, 12:00 am – 7 pm: NRG Center
CREN Houston Marketing Session 7:00am-9:00am
20
ULI Luncheon 11:30am-1:30pm BACREN Monthly Luncheon 11:00am (Speaker: Harold Hunt) NAIOP Developing Leaders Dinner 5:30pm - 9:00pm
23
30
36
May 2016
24
Greater Houston Partnership Through Leaders Series - Kaplan 11:30 am registration
25
26
IREM Houston Executive Council Board Meeting 4:00 p.m.
27
CREN Houston Happy Hour 4:30pm - 7:00pm
31
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.
Below L to R: Bob Watson, Robert C. Watson Associates, Marc Flores, KDC Real Estate, Gerald Teel, Gerald A. Teel Company, Gary Martin, Bank of America
social
SOUTHEAST TEXAS
Bret Necessary, MW Builders, Inc., Jason Bartlein, Grandbridge Real Estate Capital Mark Murrah, Murrah & Killough, PLLC, Moderator
October 2015
Pam Boneham, Cornerstone Real Estate Advisors, Speaker
May 2016
REALSHARE
CCIM HOUSTON Luncheon
From Top: Jane Nodskov, ICO Commercial, Donnie Chang, ABC Realty Advisors Steve Sapio, Chicago Title, Kenneth Lewis, Lewis Land & Cattle Company
FBSCR
Breakfast Meeting April 19th From Top: Jackie Wilcox, Stewart Title, RD Tanner, Director of Real Estate of the Houston Port Authority
JEWISH FEDERATION Commercial Real Estate Society Breakfast
BOMA HOUSTON 2016 Crawfish Boil
Above From Left to Right: Houston BOMA Member Brent Southwell City Council Member Dave Martin City Council Member Michael Kubosh Houston BOMA Executive Vice President and CEO Tammy Betancourt, CAE.
From Top: David R. David, WA Development, Matthew Bronstein, NorthMarq Capital
Sugar Land Councilman Himesh Ghandi, Peter Jacob, Rubicon Realty Group and Lynn Kraus, Trust State Bank RD Tanner with Danna C. Sossen, President of FBSCR, ICO Commercial
Melanie Edmundson, Phase Engineering, Martin Bronstein, BHW Real Estate Partners Gerald Hines of Hines, Speaker David Littwitz, Littwitz Investments. Inc Ralph Howard, BHW Real Estate Partners and Benjy Hershorn
May 2016
37
bulletin
CENTRAL SOUTH TEXAS Austin/San Antonio Areas
InvenTrust Properties Corp
AUSTIN, TX RETAIL SALE
InvenTrust Properties Corp purchased the 537,685 sf Shops at the Galleria located at 12611-12918 Shops Parkway. David Disney of Disney Investment Group represented the buyer and representative of CBRE represented the seller, Christopher Commercial.
AUSTIN, TX INDUSTRIAL SALE
Associated Tileworks Inc sold three warehouses including 62,403 sf located at 2011,2013,&2101 Rutland Drive to an unidentified investor. David Stojanik & Deron Stojanik with The Kucera Companies represented the buyer.
MIXED-USE DEVELOPMENT Endeavor Real Estate Group has
MULTI-FAMILY SALE
American Realty Advisors, a Glendale,CA-based real estate investment manager sold Alara Canyon Creek at 8225 N. RR 620 & Alara Canterea Crossing at 8021 N. RR 620 to an unidentified investor. The projects include a total of 732 units. Charles Cirar of CBRE Group Inc represented the seller.
Valor Capital Partners & Congress Holdings Group purchased the 60,485 sf office building at 9101 Burnet Road & the 63,825 building located at 12710 Research Blvd. Walter Saad, Cathy Nabours & Logan Reichle of CBRE represented the seller, OakPoint Properties & Haverwood Management and the buyers represented themselves.
MULTI-FAMILY SALE
OFFICE SALE
May 2016
Cielo Property Group purchased 900 Congress, a five story office building. Cielo Property Group now owns two corner property at Ninth Street & Congress Avenue in downtown Austin.
OFFICE SALE
Lionstone-Hermes Real Estate Venture, the JV partnership between Houston-based Lionstone Investments & Londonbased Hermes REIT purchased the 206,657 sf office building at 3300 N. I35. Andrew Levy, Todd Savage & Kelsey Roop of HFF Dallas brokered the transaction.
CalAtlantic Homes leased 22,285 sf in Building B of Paloma Ridge office development at 13620 Ranch Road, 620N. Edvin Beasley & Brad Philp of Stream Realty Partners represented the landlord & Savills Studley represented the tenant.
OFFICE SALE
OFFICE LEASE
OFFICE SALE
OFFICE LEASE
STORAGE CENTER DEVELOPMENT
Arrive Logistics, an Austin-based freight broker & logistics service provider leased 14,4000 sf in the Monterey Tech Center at 4407 Monterey Oaks Blvd. Sam Owen & Adam Green of Stream Realty Partners represented the landlord. 2FWire Inc, a San Josebased home networking telecommunications company, leased 19,664 sf in the Lakeview Plaza building at 4516 Seton Center Parkway. Edvin Beasley, Brad Philp, Casey Casper & Connor Atchley of Stream
38
Community Care Collaborative leased 16,146 sf at Atrium Office Centre, 8701 N. MoPac Expressway. Brian Liverman & Matt Frizzell with Peloton Commercial represented the landlord and Doug Rauls with Colliers International represented the tenant.
OFFICE SALE
OFFICE LEASE
Nelson Crowe III has joined Endeavor Real Estate Group as a principal.
OFFICE LEASE
been approved to develop a six-block section of East Austin into a mixed-use development which will be called Plaza Saltillo, located at Fifth & Comal streeets. Endeavor is partnering with Columbus Realty Partners Ltd in the development.
AMH/Associates sold Mission Hills, a 344-unit complex located at 2900 Sunridge Drive to Austinbased F&B Capital. The sale included nearly 14.7 acres near East Oltorf Street between I35 & ST 71. Andrew Shih of ARA Newmark represented the seller.
Jim Brownlow will be the new managing director of Henry S. Miller Company’s Austin office.
Realty Partners represented the landlord.
Capital Commercial Investments purchased a 204,346 sf office/ flex building at 6800 Burleson Road. Holmes Davis of Binswanger represented the seller, DivcoWEst Real Estate Services. An unidentified investor purchased Manor Business Park, a 14,707 sf office center at 3112 Manor Road. Robby Eaves, Phil Morris & Tucker Francis of Retail Solutions represented the seller and Michael Bullard off CBRE Group Inc represented the buyer.
Cerco Development Inc, an Austin-based company purchased nearly 3.4 acres at 8327 S. Congress Avenue for the construction of a storage facility. Floyd Prather Management Trust
was the seller. John Collins IV of St. Croix Capital Realty Advisors handled the transaction.
VACANT LAND SALE
Stream Realty Partners is purchasing a triangular 1.4 acre tract of land that currently houses a Hooters Restaurant & parking lot just south of Lady Bird Lake across South 1st Street from the Long Center for the Performing Arts. Office construction is being considered for the site.
CORPUS CHRISTI, TX TERMINAL DEVELOPMENT
Sugar Land-based Rangeland Energy is building the South Texas Energy Products System, at a new terminal hub in Corpus Christi. Rangeland is backed by San Antonio private equity form EnCap Flatrock Midstream.
MARBLE FALLS, TX OFFICE SALE
Aln unidentified investor purchased a 10,737 sf office building at 507 FM 2147. Nick Nelson of Longbow Real Estate Group represented the seller.
ROUND ROCK, TX ALZHEIMER HOUSING DEVELOPMENT
Journeyman Austin Holdings LLC purchased 6.4 acres at Louis Henna Blvd & Double Creek Drive for the construction of a Alzheimer’s housing facility. Gay Carpenter Ruggiano with The Kucera Companies represented the seller and Joe Barnes & Brent Williamson represented the buyer.
SAN ANTONIO, TX DATA CENTER DEVELOPMENT
CyrusOne Inc. is investing $22 million for construction of a new data center in the Westover Hills area. Plans for a separate building valued at $8.7 million were filed at the same address along the 9500 block of Westover Hills Blvd.
SERVICE CENTER DEVELOPMENT
GM Financial Services Center has broken ground on its 100,000 sf, servicing center located at the intersection of North Ellison Drive & Westover Link.
COPPELL, TX CORPORATE CAMPUS
The world’s largest retail diamond jeweler, Signet Jewelers, is developing a 225,000 sf office & a 31,000 sf manufacturing facility at Cypress Waters. The two building campus is scheduled for completion the end of 2017.
DALLAS,TX INDUSTRIAL LEASE
Curt Manufacturing has leased 103,283 sf at 1000 N. 28th Avenue. Tom Walch, Corbin Blount & Reed Parker of Lee & Associates represented the tenant & Steve Trese & Wilson Brown of CBRE represented the owner, Clarion Partners.
MIXED-USE DEVELOPMENT
Phoenix-based commercial real estate company, RED Development, will develop an 800,000 sf mixed-use development in Uptown Dallas at the corner of Field Street & Cedar Springs Road. The project will include a 417,000 SF office tower, a 209-unit residential high rise and 87,000 sf of retail and restaurant space.
MIXED-USE DEVELOPMENT Centurion American, based
in Farmers Branch, Texas, purchased 94 acres at the northwest corner of Lancaster and I20 from Sun NLF. The tract will be added to an assemblage of 294 acres for a mixed-use development which will include townhomes, multifamily units, entertainment and retail. Thurston Witt of CBRE represented the seller and Robert Maxey with MetroCom Properties represented the buyer.
MULTI-FAMILY DEVELOPMENT Charlotte, North Carolina-based Crescent Communities is looking to build a highrise developmemt at 2007 Randall Street in the Harwood District.
MULTI-FAMILY DEVELOPMENT StreetLights Residential, in a joint venture with Toronto -based Capital Group, is building a 183unit, 22 story apartment project, The McKenzie, at the corner of Harvard Avenue & Tracy Street.
MULTI-FAMILY DEVELOPMENT Houston-based homebuilder David Weekley Homes is building a mid-rise, 40-unit residential development called Southside Place in Dallas.
RETAIL DEVELOPMENT
Costco has filed architectural plans for its first Dallas store near the southwest corner of North Central Expressway & LBJ Freeway. They are constructing a 146,000 sf retail warehouse at a former park & ride location.
FORT WORTH, TX INDUSTRIAL LEASE
Calcomp, Inc. a manufacturer of aircraft engine composites, has moved from California to Fort Worth. They have leased 25,000 sf near Loop 820 & Blue Mound Road.
INDUSTRIAL SALE
Dallas-based real estate investment firm Sealy & Company purchased Carter Distribution Center, a 615,005 sf distribution facility at 6601 Oak Grove Road. The property is leased to FedEx.
MIXED-USE DEVELOPMENT
Fort Capital LP, Greystar, James R. Harris Partners, LVG Investments & Villages Homes are developing The River District, a 276 acre mixed-use development 3 miles west of Fort Worth on the Trinity River.
OUTLET CENTER DEVELOPMENT
Greensboro, NC-based Tanger Factory Outlet Centers will develop a 350,000 sf outlet center 18 miles north of downtown Fort Worth at the intersection of I35W & State Hwy 114.
RESIDENTIAL/RETAIL DEVELOPMENT
Chisholm Trail Ranch, a 261-acre residential community which will include retail properties, is the first residential development to begin construction along the $1.4 billion Chisolm Trail Parkway. The project is located at the intersection of Chisolm Trail Parkway & McPherson Blvd.
FRISCO, TX
MCKINNEY, TX INDUSTRIAL SALE
Dalfen America Corp purchased the 201,425 sf McKinney Central Business Park located at 2010 & 2040 N. Redbud Blvd. DAC also purchased a 6.5 acre parcel for future development.
bulletin
NORTH TEXAS
Dallas/Fort Worth Areas
MIXED-USE CONSTRUCTION
Former Dallas Cowboy offensive lineman and entrepreneur Robert Shaw’s Columbus Realty Partners Ltd. and the City of McKinney has signed a development agreement to construct a new mixed-use development which will bring 320 apartments, a parking garage, 45,000 SF of office space and 20,000 SF of retail space to the 9-acre site at the southwest corner of Davis Street and McDonald Street (State Highway 5).
OFFICE LEASE
PennyMac Financial Services leased 75,825 sf in the Plano Corporate Center East building at 2201 W. Plano Parkway. Johnny Johnson, Trey Smith & Layne Mayfield with Cushman & Wakefield represented the landlord and Steven Eyler with Travers Cresa represented the tenant.
Skybox Datacenters
PLANO, TX DATA CENTER DEVELOPMENT
Dallas-based Skybox Datacenters, a jv between Bandera Ventures & Rugen Street Capital, is constructing a 150,000 sf data center at 6800 Communications Parkway called Skybox Legacy. The project will ultimately be expanded to 350,000 sf.
WEST PLANO, TX MIXED-USE DEVELOPMENT
Yeager has broken ground on a 48,300 sf mixed-use development located at the NEC Rasor Blvd & Ohio Drive. The project will include 39,750 sf of office suites & 8550 sf of retail & restaurant space.
WACO,TX DISTRIBUTION DEVELOPMENT
Sherwin-Williams will develop a new 600,000 sf distribution center at 2700 Texas Central Parkway. NAIO Robert Lynn represented Sherwin-Williams.
Rudy Janecka has joined Champions, DFW Commercial Realty as Director of Retail Services.
Paul Wittorf has joined Transwestern as the new executive managing partner & market leader in North Texas.
Tonie Auer has joined Younger Partners as the new communications manager.
OFFICE LEASE
Software provider, Paycor, Inc leased 25,321 sf at 3001 Dallas Parkway which is in addition to Paycor’s existing 11,878 sf at the same location. Travis Boothe & Craig Wilson of Cushman & Wakefield represented the tenant. Kim Butler, Tammy Nellis & Brad Gibson represented the landlord, Hall Group.
Ran Holman has been named market leader of Cushman & Wakefield North Texas.
May 2016
39
bulletin
SOUTHEAST TEXAS Houston Area
FREEPORT, TX PETROCHEMICAL PLANT DEVELOPMENT
Dubai-based MEGlobal, a company partially owned by Dow Chemical Company will build a $1 Billion petrochemical plant in Freeport which is expected to be completed in 2019.
HOUSTON, TX
PORTER, TX RETAIL LEASE
Academy Sports & Outdoors has signed on as the third anchor at Valley Ranch Town Center located at US 59 & Grand Parkway. Kroger & Sam’s Club are the other two anchors in the center being developed by The Signorelli Company.
Simon Property Group is building a 220-unit high end hotel & between 75 – 100 luxury condominium units at the site of the former Macy’s’ store at the Galleria Mall.
INDUSTRIAL LEASE
RETAIL LEASE
Todos Recycling leased 139,631 sf at 1815 Turning Basin. David Munson of Boyd Commercial represented the landlord, First Industrial Real Trust.
INDUSTRIAL LEASE Communications Test Design leased 114,467 sf at 6215 West by Northwest Blvd. Mike Spears of Lee & Associates represented the tenant and Ed Frantz represented the landlord. INDUSTRIAL SALE
Terry Parker has joined NewQuest Crosswell as executive vice president for the purpose of expanding their build-to-suit retail development company.
Noah Kruger has joined Savills Studley as a managing director.
Denver-based Industrial Property Trust purchased 190,565 sf at 302 West Road for $59.9 million. The sale is part of a larger transaction across Texas, Kentucky & Oklahoma and the company now owns more than 1.7 million sf in Houston. Todd Mason, Jeff Lindenberger & Andrea Gardner of Avison Young brokered the five-building deal for Timmons Realty.
INDUSTRIAL SALE
Pallet-OPS purchased a 66,160 sf warehouse on 18 acres at 4847 Blaffer. Kelly Parker III, John Littman, Coe Parker, Tim Thomas & Angus Hughes of Cushman & Wakefield represented the buyer. Blake Gibson of Colliers International represented the seller, Mardin. OFFICE LEASE LS Energy leased 5600 sf at 400 North Belt. Office Space Advisors represented the tenant & Jennifer Rabon represented the landlord, Hartman Income REIT. OFFICE LEASE James D. Smith Law Firm leased 9505 sf of office space at 950 Westcott. Karen Wright & Kurt Kistler of Moody Rambin represented the landlord, Gupta Parkside and David
40
May 2016
RETAIL DEVELOPMENT HEB has purchased 15 acres at Texas 99 & Harlem Road in the Aliana master planned community for the construction of a 102,000 sf store. Simmi Jaggi & Elizabeth Clampitt of JLL represented the seller, Aliano Development Company. RETAIL DEVELOPMENT Ocumare Investments purchased two acres at 7202 Long Point for a medical office development. Greg Barra of Boyd Commercial/CORFAC International represented the seller, Stewart Land & Property. Doug Morrow of Texas Overland Company represented the buyer.
HOTEL & CONDOMINIUM DEVELOPMENT
Signorelli Company
Guion with Cushman & Wakefield represented the tenant.
Alabama Furniture & Accessories leased 10,120 sf at 4900 N. Shepherd. Melissa Gerber Brams of Gerber Realty represented the landlord and Trey Whitaker of Houston Executive Realtors represented the tenant.
RETAIL LEASE
Auto Zone leased 34,380 sf at 1818 Gessner Road. Edwin Williams of Edwin Williams Properties represented the tenant and David Ferguson of BPI Realty Services, Inc. represented the landlord, Sal Properties.
VACANT LAND SALE
Miller Road Realty purchased 92.4 acres on Beaumont Highway adjacent to the 80.5 acres they purchased in December. Trey Erwin of Colliers International represented the buyer. VACANT LAND SALE After 45 years of ownership, Shell Oil Company is selling 21 acres at SWC of Greenbriar & OST. The property is effectively vacant and is being marketed by Cushman & Wakefield.
KATY, TX ACTIVE ADULT COMMUNITY DEVELOPMENT
Stream Realty Partners LP has purchased 10 acres on Westheimer Parkway west of Cinco Ranch Blvd for the construction of a 3-story active adult project. Stream has plans to develop between 15 – 20 active adult communities throughout Houston.
MULTI-FAMILY SALE
Tampa, FL-based firms ELHR Investments & Robbins Property Associates purchased the Fountains
of Katy, a 316-unit project located at 1007 S. Mason Road from JRK Property Holdings.
MAGNOLIA, TX RETAIL DEVELOPMENT
The intersection of FM1488 & FM 2978 is being developed with an HEB store and Trump Center, a retail development on two acres. Several new housing developments are also planned for the area.
PEARLAND, TX HOSPITAL DEVELOPMENT
HealthSouth Corporation plans to build a 49,000 sf hospital on a 5.46 acre tract at The Reserve at Shadow Creek Ranch, located at the intersection of Business Center Drive & Medical Center Drive.
RETAIL DEVELOPMENT
Stream Realty Partners is developing a 108,343 sf addition to The Center at Pearland Parkway center. Matt Kafka & Colby Mueck of HFF’s debt & equity placement team placed the construction loan with Amegy Bank.
SPRING, TX RETAIL DEVELOPMENT
Kimco Realty Corp is building a 450,000 sf retail center on the corner of Kuykendahl & Spring Stuebner which will be anchored by Target Corp. Doug Schooley of Kimco Realty handles leasing in house.
SUGAR LAND, TX RETAIL LEASE
Burlington Stores is opening a 50,000 sf retail location at University Commons at US 59 & University Blvd. The center is being developed by Houston-based Vista Equities Group.
ADVERTISER INDEX
A. A. Realty Company 28 American Realty Group 27 Bayou Properties Realty 14 CBRE 3, 7, 17 City of Conroe 19 City of Converse 1-C/S Texas, 8 City of La Porte EDC 2 Colliers International Ltd 21 Cushman & Wakefield 1-SE Texas, 22 First Capital Advisors 15 Greenberg & Co. 19 Hankamer & Associates 42 Homeland Properties, Inc. 15 Hughes Corporation 21 International Icon Properties 5 Jones & Carter, Inc 25 KW Southwest Realty 19
classifieds & index KW The Woodlands & Magnolia 19 Levcor, Inc. 16 MIMCO Inc. 26 Phase Engineering, Inc. 30 Quine & Associates Inc 25 RECON ICSC 43 Showalter Law 41 Tarantino Properties Inc 20 TCP Realty Services, LLC 23 The J. Beard Real Estate Company 9 The Weitzman Group 1- North Texas, 18 Waller County EDC 15 Wendy Cline Properties 13 Windrose Land Services 44 Wolverine Management 23
In Next Month's Issue... The June Civil Fair Play will focus on Texas Eminent Domain issues.
EMAIL BLAST PACK AGES
EMAIL BLAST PACK AGES Standard email blast packages (regularly priced at $245 per email blast): 4 Blast Package - $880
Standard email blast packages (regularly priced at $245 per email blast): 6 Blast Package - $1,188 Blast Package Package -- $880 104Blast $1,500 6 Blast Package - $1,188 10 Blast Package - $1,500
Priority Schedule email blast packages (same time every week): 20 Blast Package (60 day duration) – $2,800 - $140 per blast 40 Blast Package (120 day duration) – $5,200 - $130 per blast 20 Blast Package (60 day duration) – $2,800 - $140 per blast 40 Blast Package (120 day duration) – $5,200 - $130 per blast
Priority Schedule email blast packages (same time every week):
For more information contact: laura@rednews.com Priority Schedule email blast packages with Priority Schedule Social Media bonus email blast packages with 4Social Blast Package $1,080 Media–bonus
Protecting Property Owner’s Rights 64Blast BlastPackage Package––$1,488 $1,080 106 Blast $1,900 Blast Package Package –– $1,488 20 10Blast BlastPackage Package––$3,300 $1,900
Eminent Domain 40 20Blast BlastPackage Package––$5,800 $3,300
40 Blast Package – $5,800 Compensation forWebsite, RoadsNewsletter) • Pipelines • Power Lines (Facebook, Twitter, LinkedIn, (Facebook, Twitter, LinkedIn, Website, Newsletter)
For more information contact: JP@rednews.com or Bri@rednews.com
www.ShowalterLaw.com
For more information contact: JP@rednews.com or Bri@rednews.com
281-341-5577 • Info@ShowalterLaw.com May 2016
41
Robert A. Dye, Ph.D.
ray’s buzz
BoyarMiller-Perspectives on the Energy Industry 2016
Speaker: David Pursell, Tudor, Pickering, Holt, & Co; Matthew Pilon, Simmons & Company; Robert A. Dye, Ph.D., Chief Economist Comerica Bank
• Overview: Jobs and wages
are growing in the US; India economy will surpass China in a few decades; if Britain leaves
EU, other countries may follow
• US economy and consumer
confidence growing; household net worth is rising; consumers are de-leveraging and building equity; we have returned to prerecession peak of household net worth
• Recently approved oil
exports will not matter much to overall pricing of this commodityGlobal oil demand growing at 1%+ per annumnot weak-while worldwide production is slowing
Matthew Pilon
• Global oil demand growing
continues unabated and this requires schools, roads, hospitals, and other infrastructure-so Houston continues to grow
at 1%+ per annum-not weakwhile worldwide production is slowing
• 476 rigs working now, lowest count ever
• There is massive excess
capacity in the oil patch; however. on-and off-shore drilling innovations and increased efficiency are resulting in falling costs of lifting a barrel of oil
David Pursell
• We do not have a storage
problem for excess crude, as is often reported in the press
• When asked to predict price
of a barrel of oil at the end of 2016, the guesses were: $80, $50, & $80
• In-migration to Houston
CCIM Retail Luncheon
BY RAY HANKAMER rhankamer@gmail.com
Alan Hassenflu
Jeff Read
Jason Baker
Speakers: Jason Baker – Baker Katz; Alan Hassenflu-Fidelis; Jeff Read-Read King • Takeaway: Houston is having
unparalleled population growth and there is pent-up demand for more retail, which is enjoying its best times ever.
• Since retail developments are usually 75% land and 25% building, land prices have a huge impact on viability of a retail project
• Now that multi-family
development is slowing, escalation of land prices should slow as well, benefitting retail growth
• Many retailers who pushed the
limits on how big a box they could build are now coming into smaller markets with smaller boxes…they are ‘compressing’
• The big three grocers-Kroger,
H.E.B., and WalMart-are in a battle for market share, and between them they control about 75% of Houston’s grocery business
• There will be some smaller
specialty grocers falling by the wayside
42
May 2016
• Despite oil price worries,
retailers are very profitable at the moment
• Our great infrastructure here
and our business-friendly climate and lack of zoning are big plusses for developers
• We are seeing huge movement
of medical services into retail centers, and they can pay some of the highest rents
• There is no comparison to the
Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide
Oil Depression of the ‘80s with regard to Houston’s economy, which remains strong
• 37 Acres I-10 at Cane Island Pkwy - Katy, TX
perhaps 6 or 7% of retail sales, project in three years to perhaps reach 9%...still relatively small and little threat to ‘brick and mortar’ locations
Conta ct: Ray Hankamer
• Online shopping accounts for
• Some online retailers are
actually building their first brick and mortar stores, while brick and mortar retailers are ramping up their online operations BY RAY HANKAMER rhankamer@gmail.com
• Knights Inn/100 Rooms - Victoria, TX • Hotel Sites - Katy, TX
HANKAMER & ASSOCIATES BROKERS, L.L.C.
Hospitality Consulting Services
40 Years Experience As Services Hospitality Consulting Developer, Owner & Operator
Agents: Ray Hankamer, Jr. rhankamer@gmail.com Pablo Szub szub@mail.com Sergio Pineda sergpineda@aol.com Dan Zimmerman danz@lacolombedor.com
40 Years Experience As Developer | Owner | Operator
(713) 922-8075 • www.hankamer.com
(713) 789-7060 www.hankamer.com Brokers: Ray Hankamer, Jr., Pablo Szub,
H & B
May 22 – 25, 2016 I Las Vegas, NV
Las Vegas Convention Center & Westgate Hotel We know you attend RECon to network with over 36,000 attendees, participate in education sessions to enhance your professional development, and meet with over 1,000 exhibitors to make deals. We also know you’re wondering who this year’s keynote speakers are.
SUNDAY OPENING SESSION KEYNOTE
Earvin “Magic” Johnson
Magic Johnson Enterprises
MONDAY
Parag Khanna
Tony Hsieh
Factotum, Hybrid Reality
Zappos
TUESDAY Gary Friedman
Restoration Hardware
Bobbi Brown
Bobbi Brown Cosmetics
Register by March 31 to save $150 and receive your badge by mail. Visit www.icscrecon.org for more information.
#RECon163
May 2016
POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South, Suite 135, Bellaire, TX 77401 Address Service Requested
PRSRT STD U.S. POSTAGE PAID PERMIT NO. 2436 DALLAS, TX
If this person is no longer with your company, please notify subscriptions@ rednews.com or call 713-661-6300
From 1,000 acres of raw land to a rail-served industrial logistics park in Baytown, Texas.
AmeriPort Industrial Park, Baytown Texas
WINDROSE LAND SERVICES Proven performance for 25 years
713.458.2281
3200 Wilcrest I Suite 325 I Houston, TX 77042 www.windroseservices.com
Firm Registration Number 10108800
NPH selected Windrose when they needed high quality services from a responsive team they could trust. Services provided on this project included: boundary for acquisition descriptions for individual parcels topographic and utility surveys for infrastructure design as well as individual building design encroachment exhibit 150’sanitary control easement reciprocal access and utility easements storm sewer easements legal description for rail . access construction staking as well as ALTA/ACSM As-Built surveys
Boundary Surveys Parcel Descriptions Platting Topographic & Utility Surveys Easements Construction Staking ALTA/NSPS As-Built Surveys