North Texas REDnews November 2020 Magazine

COMMANDING CAPITAL: FLAGSHIP CAPITAL PARTNERS FUNDS FLOW IN OTHERWISE DRY MARKET PAGE 22 THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE | NOVEMBER 2020

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IN THIS ISSUE 12 Features Constructing tomorrow’s buildings: Expect an explosion in modular design Though it’s been around for decades, modular construction is still a nascent technology.

As the trend evolves, however, speed to market and cost reductions may make it a game changer.

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Industrial age: Texas cities are drawing investors looking to capitalize on the industrial boom The COVID-19 pandemic has led to a surge in e-commerce, and thus, higher demand for logistical warehouses. What impact has this had on Houston, DFW, El Paso and other markets?

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Data center performance varies across Texas The demand for data center space has soared in recent years, especially as more information shifts to the cloud. New research shows how the pandemic has affected activity within Houston, DallasFort Worth, Austin and San Antonio

‘Stability married to progress’: Cedar Hill fosters industry while preserving natural beauty Cedar Hill has a lot going for it— beautiful landscapes, quality labor, access to the DFW market and plenty of opportunities for developers looking to plant a stake.

What’s driving distribution? CBRE experts weigh in on the industrial market Retail real estate may be suffering because of stay-at-home orders, but that doesn’t mean consumers have stopped shopping. Will this renewed distribution demand put a strain on our supply chain?

Commanding capital: Flagship Capital Partners funds flow in otherwise dry market One could be forgiven for thinking that the uncertainty brought about by the COVID-19 situation has seized the gears of CRE financing. But some capital sources say that recent activity mirrors pre-pandemic times.

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Letter from the Editor THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE

Industrial is king right now. Coincidentally, this is an industrial-heavy issue.

NATIONAL PUBLISHER

Whether mandated by governments or out of an abundance of caution, most people are staying home as much as possible, eschewing their typical day-to-day activities in an effort to steer clear of the COVID-19 virus. While perfectly understandable, this has devastated the retail, hospitality and other sectors.

MANAGING EDITOR

Mark Menzies menzies@rejournals.com Matt Baker mbaker@rejournals.com

STAFF WRITERS Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDnews.com

SENIOR VICE PRESIDENT

But not industrial. Just because shoppers are walking into a Target with less frequency doesn’t mean they don’t still need that new pair of jeans. Instead, they are swapping the shopping cart for the computer mouse.

Benton Mahaffey benton@REDnews.com

E-commerce is by no means new and had, in fact, been the preeminent demand driver for the surging industrial sector long before the events of 2020. But late adopters have been forced to shop online since the start of the pandemic and this new activity has added fuel to the white-hot logistical warehouse segment. What does that mean for Texas markets in particular? We delve into that very question with several articles this issue, homing in on Houston, Dallas, El Paso and other regions.

Joni Margotta joni.margotta@rejournals.com

Data centers are somewhat related to the industrial sector in that they largely vie for the same land and their construction can appear quite similar from the outside. (On the inside, of course, they couldn’t be more different.) These two sectors have another thing in common in that they had year-over-year demand growth that accelerated with the onset of the pandemic. We take a look at how this asset class is performing in four key Texas markets.

It’s not all industrial, however, as we also tackle the availability of financing, modular construction and other topics in this issue. Thanks for reading and I look forward to your feedback.

EMARKETING DIRECTOR Sarah Evans Carter emarketing@REDnews.com

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NOVEMBER 2020

Constructing tomorrow’s buildings: Expect an explosion in modular design

BY MATT BAKER

The Hyatt Place Hotel Waco

Next year, a new Hyatt Place Hotel will rise in Waco, Texas. Though it will have all of the typical amenities and features of a modern, new construction hotel, it’s what the guests won’t ever see that will be truly groundbreaking.

The project is using the latest evolution in modular design and construction.

This process has grown in maturity over the years, with recent innovations that endow tremendous time and cost advantages.

The Waco Hyatt project, for instance, will be constructed almost entirely off site, in the fabrication facility that ModularDesign+ operates in Euless, Texas.

A strategic partner of global architecture firm CannonDesign, ModularDesign+ 8

NOVEMBER 2020

hopes to change the way that owners, developers, architects and contractors think about modular construction.

The 110-room, eight-story Hyatt Place Hotel Waco, designed by MWT Architects, will feature both rooftop and ground-level restaurants, a shopping center and a parking garage—all of which will be fabricated in Euless. Once completed, 140 stackable units will be shipped over the course of only three to four weeks to their final destination in Waco.

That’s the largest incentive that modular offers: speed to market. The quicker that an owner or developer can begin generating revenue on a space, the better.

For all its advantages such as reduced material waste and fewer construction days lost to inclement weather, however, building modular hasn’t always translated into cheaper construction costs.

“The old-school methodology of modular construction was that an architect team would design a project, then the general contractor would lease a facility close to the job site and bring in the subcontractors to build the modules,” said Josh Mensinger, vice president, ModularDesign+. “They could never really figure out why there were no cost efficiencies.”

At their Euless facility, ModularDesign+ uses the principles of DFMA, or design for manufacture and assembly to streamline operations. DFMA is an engineering methodology that simplifies both the design of a product, as well as the assembly of the component parts.

DFMA allows a manufacturer—whether they be producing televisions, automobiles or multi-story buildings—to find the most efficient process to assemble that product. The result is greater schedule control and less waste, among other benefits.

“We're a manufacturer, we're not a contractor. Our 100,000-square-foot facility that we have here in DFW is actually an assembly line,” Mensinger said. “That's where we drive the costs—not just the schedule—down because we're actually taking it from the approach of a manufactured good but using subcontractor trades.”

In a trend that has shifted the approach that the industry is taking to modular construction and design, ModularDesign+ is producing structural, stackable volumetric modular units. Once on site, these can be craned into place like Lego bricks, constructing the total volume nearly three times as fast as it would take using traditional, stick-built methods.

“What we designed in our manufacturing facility is a unique hybrid assembly line that allows us to adjust to the client's needs.” on a similar project being erected using traditional methods.

Modular “cassettes” that are inserted into ready and waiting buildings have been around for a while. They are especially useful and efficient in healthcare, hospitality and other asset types with repeatable interiors.

This next evolution of modular construction is still in its nascent stage. There are a handful of projects around the world that have gone ground-up using stackable, modular components. As owners and developers are always looking to cut costs and increase efficiencies, the stage is set for this approach to find wider usage.

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While that process allowed for less customizability, the tradeoff was affordability, bringing car ownership to the masses for the first time. According to Mensinger, that tradeoff cannot work with construction and design. That is why each project is unique, absorbing the desires and needs of the client and using the manufacturing facility to fabricate an end product that meets those specs as efficiently as possible.

“If you go to a kit of parts, you don't give the client much freedom to build the designs and the buildings that they want to,” said Mensinger. “What we designed in our manufacturing facility is a unique hybrid assembly line that allows us to adjust to the client's needs.”

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9

Industrial age: Texas cities are drawing investors looking to capitalize on the industrial boom

BY BRANDI SMITH

Hunt Southwest Real Estate Development Co.’s El Paso development

Industrial is far and away the hottest sector in commercial real estate right now and the hottest industrial markets are scattered throughout Texas, each one creating a unique draw for investors and developers.

Houston

The largest city in the Lone Star State also boasts the most absorption of industrial space so far in 2020: just more than 6.4 million square feet. According to CBRE research, nearly 3.9 million of that got leased up just in Q2. In that same period, though, about 8 million square feet came on the market, which boosted vacancy rates to 6.9 percent.

About 18 million square feet of new industrial is 10

NOVEMBER 2020

under construction in the Houston market with the southwest (8.5M SF) and northwest (4.8M SF) sectors bringing in the most space.

“Houston is very competitive,” said Alfredo Gutierrez, president of industrial-focused investment firm SparrowHawk Real Estate Strategists. “Because of the setback in oil prices, some investors are perceiving a pullback in real estate by some of the energy companies. That provides a window of opportunity to invest in industrial real estate in Houston.”

He predicts this window will close in late 2021 as the energy sector rebounds, e-commerce increases and the benefits of trade with Mexico expand in Houston.

Dallas-Fort Worth

When it comes to new construction, it’s hard to beat the numbers coming out of the Dallas-Fort Worth area. CBRE reports that in Q2, more than 23 million square feet was underway. Thing is, that space is getting eaten up as soon as it hits the market. For example, DFW had about 3.4 million square feet in completions and 2 million square feet of net absorption this spring, marking 39 consecutive quarters of positive net absorption.

“I think Dallas is the strongest market in the United States right now,” Gutierrez said. “Dallas is just screaming hot.”

Two of the three largest leases signed in Q3 are

distribution-focused companies. FedEx scooped up about 750,000 square feet of available space, opening a new distribution center in south Dallas, while packaging and fulfillment firm AmeriPac expanded to a new 400,000-square-foot facility near DFW Airport.

El Paso

Experts agree El Paso is the market to watch as near-shoring adds production to Mexico and manufacturers are looking for convenient locations to store their goods before they’re shipped across the U.S. That’s why vacancy rates are some of the lowest in the country. Right now, only 2.9 percent of industrial space (a record low) is available in El Paso, boosting the asking rate to a record high: $5.38 PSF. To answer demand, CBRE reports 3.4 million square feet of space is currently under construction, including a new three-story industrial build-tosuit project. Another project is a 370,000-squarefoot warehouse/distribution complex from Hunt Southwest Real Estate Development Co.

“Some investors are perceiving a pullback in real estate by some of the energy companies.

That provides a window of opportunity to invest in industrial real estate in Houston.”

Hunt Southwest president, Preston Herold, told the El Paso Times the company picked the border town because of its low vacancy rates, calling them “market fundamentals you want to see as an investor and developer (in real estate).”

CBRE reports that strong tenant demand for distribution space contributed to Austin’s 25th consecutive quarter of net absorption. Vacancy in the capital city is down to 9.7 percent as Q3 saw no new projects delivered.

Central Texas

The opposite is the case in San Antonio, where more than 800,000 new square feet came to market in Q3.

As a result, vacancy bumped up to 14.2 percent. And more projects are on the way. Per CBRE, a whopping 1.8 million square feet are under construction.

While they’re not making the headlines of the other Texas markets, Austin and San Antonio are holding their own in the industrial sector.

City Management NOVEMBER 2020

11

Data center performance varies across Texas

BY MATT BAKER

Stream Data Centers’ DFW VII facility in Garland, Texas

As they are no longer merely the domain of enterprise users, demand for data centers has skyrocketed in recent years with more information moving to the cloud. The pandemic has created issues, nevertheless the events of 2020 have largely accelerated this trend.

By just about every metric, the asset class saw incredible gains during the first half of the year, according to a report by JLL. Data center REITs outperformed other sectors, absorption rose in most markets and operators have thus far weathered the pandemic with steady—if not booming—business activity.

As strong as the overall industrial sector has been this year, data centers have been even stronger. For example, the stay-at-home orders brought on by 12

NOVEMBER 2020

“The stay-at-home orders brought on by COVID-19 led to an increase in online shopping, and thus renewed demand for warehouse and logistics space.”

COVID-19 led to an increase in online shopping, and thus renewed demand for warehouse and logistics space. This, in turn, has resulted in a year-over-year increase in returns of 2.3 percent among industrial REITs, according to information gleaned from Nareit.

Contrast that with data center REITs, which saw an incredible 19.2 percent climb over that same period. Residential, office, healthcare, retail Continued on Page 14>

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“Rental rates in these markets have remained

steady, but JLL predicts that there could soon be an increase, especially as population growth is expected to continue in both markets. A lack of turnkey space requires longer-term capacity planning, but also presents opportunities for providers to develop spec space.” and hospitality REITs all regressed during the 12-month period ending on June 30, 2020.

What’s behind this surge? First is the increase in online shopping; in addition to furthering demand of the storage of goods, extra server space is required to accommodate all the ones and zeroes supporting this 14

NOVEMBER 2020

activity. Additionally, remote working and learning have led to an uptick in videoconferencing and homebased internet use. Finally, with most movie theaters and other venues shuttered for the foreseeable future, virtually the only option available for most people to unwind is content streaming, which drives even more demand for data centers.

Houston

With demand “tepid at best,” according to JLL, providers have been slow to bring new supply to the Houston metro. The inventory currently stands at 140 MW within 1.1 million square feet.

Of that, 19.8 MW are vacant.

While there are no new projects under construction, JLL identified 582,000 square feet, encompassing 87.2 MW, of planned data center space. Right now, a handful of providers are able to build out new supply on their existing campuses but have thus far spurned the idea of bringing new spec space to market in 2020.

The energy industry has historically driven Houston’s data center demand—currently occupying half of market share—thus the simultaneous hits of COVID-19 and the oil bust are depressing activity in the region. The forecast for Houston’s data center market is wholly dependent on if and when the energy industry comes out of its current slump.

Dallas-Fort Worth

With more than 580 MW of inventory in nearly 4 million square feet of space, Dallas-Fort Worth is the clear data center leader in Texas. Though the pace has slowed relative to recent years, supply continues to increase here.

Among the new product to come to market this year was Stream Data Centers’ DFW VII facility.

The expandable 138,132-square-foot data center in Garland, Texas is part of a planned 400,000-squarefoot campus. In June, Equinix opened DA11 IBX, the firm’s ninth data center in the DFW area. The $142 million first phase provides a capacity of 1,975 cabinets and colocation space of approximately 72,000 square feet Data Center demand in DFW has long been dominated by enterprise users. Despite the closing of several deals this year, however, the market hasn’t benefitted from large, hyperscale transactions that dominate other markets.

Austin and San Antonio

According to JLL, supply is tight in both the Austin and San Antonio markets, which combine for

“Even as the pandemic spurred unprecedented demand during the first half of 2020, financial uncertainty put the brakes on many deals.”

775,000 square feet and 142.2 MW of space—only 5.1 MW of which is vacant. There are 8,000 square feet of space under construction between the two markets with another 117,000 in the pipeline.

A number of large requirements over the past year and a half have absorbed most of the available

supply, though some providers in the Austin market have power concerns, suppressing their ability to add inventory. Tech firms—which hold a two-thirds market share—as well as enterprise users drove demand during the first half of 2020.

Continued on Page 26>

NOVEMBER 2020

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What’s driving distribution? CBRE experts weigh in on the industrial market

BY BRANDI SMITH

“The number one question the investor would ask us when we sell a property used to be ‘What’s the price per square foot?’ It’s still asked, but it’s not the overriding question.”

Jack Fraker

In the pre-pandemic world, e-commerce was already a giant. Industry observers predicted it would account for more than a third of all retail sales by the year 2030. Now, roughly a year since we first heard about COVID-19, the virus helped accelerate the growth of e-commerce in a way few could have predicted in 2019.

“Even older Americans are now accustomed to buying things online, so it’s pervasive,” said Jack Fraker, vice chairman and managing director at CBRE. Now that threshold of 39 percent of retail sales is viewed as something e-commerce could reach by mid-2027. To meet that consumer demand, Fraker said, there is and will be a need for much more industrial real estate.

Texas markets, such as Dallas-Fort Worth, Houston, Austin, San Antonio and El Paso, are benefitting from that push because of their ever-growing populations. On the one hand, explained Fraker, manufacturers want to get distribution hubs closer to their customers to satisfy the existing demands.

More than ever, customers expect to receive goods within days of ordering, if not the very next day.

“All those retail products have to reside inside warehouses for a while,” Fraker said.

Along with satisfying retail needs, warehouses and logistics hubs are essential for growing communities. Before the tub, shower head, curtains, washer, dryer, carpet paint, floor tiles and ceiling fans can be installed in a new home or apartment, they must take up space in a warehouse located nearby.

The pandemic also revealed systemic flaws in the international supply chain, prompting manufacturers to relocate to the U.S. or Mexico.

“A lot of real blue chip U.S. corporations like the low cost of labor in Juarez, for example. They can assemble products on the Mexico side of the border, ship them across to El Paso and to distribute into the United States from there,” said Jonathan Bryan, executive vice president at CBRE, adding that those goods might end up in a warehouse in San Antonio as well.

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Jonathan Bryan

On top of all that, Texas is an affordable place to set up shop compared to popular hubs on the east and west coasts.

“We have freeways that crisscross the state, as well as a number of great railroads. It’s a friendly right-to-work state with a low cost of living and tremendous population and job growth. Not to mention it’s really flat. That makes it easy to build,” Fraker said. “There’s a whole list of Chamber of Commerce reasons companies want to be here and that’s why the Texas markets are exploding.”

As much of a bargain as Texas industrial prices are, they’ve certainly increased in the past few years. Fraker points out that some of the new prototypes or big e-commerce companies are paying $200 per square foot or more. That isn’t a deal breaker these days, however.

“The number one question the investor would ask us when we sell a property used to be ‘What’s the price per square foot?’” said Fraker. “It’s still asked, but it’s not the overriding question.”

That, he emphasizes, is usually related to other fundamentals. Investors want to know how much space is already available in the market, what the tenant profile looks like and the range of lease rates. They’re also keenly aware of the value of location over just about any other factor.

“A lot of users have realized they can’t only have three distribution centers that serve the entire United States. Just-in-time demand has created a need for more dots on the map, more locations,” Bryan said. “So we’re seeing a lot more demand in what we would categorize as secondary strategic markets.”

As examples, he cites Indianapolis, Columbus, San Antonio, Savannah and Reno, which provide more touch points closer to the population base as key for companies to be competitive. Many of those companies have developed algorithms based on where the customers are and where they need to be to get the product to the customer quickly.

“We like to say, ‘location trumps functionality’ or ‘location trumps age,’” Fraker

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“We have freeways that crisscross the state, as well as a number of great railroads. It’s a friendly right-to-work state with a low cost of living and tremendous population and job growth. Not to mention it’s really flat. That makes it easy to build.” said, explaining that many companies looking for an industrial footprint will take an older infill site over a shiny new building. “They sacrifice the clear height of the building. They don't care as much about the length and depth of the truck court. What matters most to them is how long it takes to drive to the best customers.”

While the huge industrial deals are the ones that usually make the headlines, CBRE’s experts say smaller tenants are the core of the market right now.

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“We all talk about the million-square-footers, which are happening left and right. But at the same time, 20 or 30,000-square-foot leases are signed,” said Fraker. “If you visualize the national inventory of industrial real estate as a pyramid, the million-square-footers are at the top. The base of the pyramid is all the smaller tenants, who represent the vast majority of the universe of industrial real estate.”

The challenge now, besides fighting off the competition, is finding space for those small tenants. Most require infill interior sites, which are few and far between these days. Even when a site is located, it can be cost-prohibitive because you lose the economies of scale on a smaller building, resulting in higher rent. Fraker predicts that will prompt the industry to consider new prototypes, such as the multilevel industrial examples in Tokyo, Singapore and Hong Kong.

“In those cities, it's not uncommon to see a 10-story, 1-million-square-foot building,” he said. “However, the floor plan is only 100,000 square feet. The buildings go vertical.”

That, Fraker added, isn’t something that’s necessary in a market like Dallas, where the topography is flat and there’s plenty of land. It’s more likely an option in urban markets such as Seattle, San Francisco or New York.

While they expect the sector to evolve and change over time, Fraker and Bryan agree that the white-hot demand for industrial will continue for at least a decade, possibly more.

“Some of these major e-commerce companies are trying to make sure they can have delivery to everybody within one or two days. That requires a very ambitious and long-term expansion plan,” Fraker said.

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If you have to choose between throwing money in a savings account or even the stock market, it’s hard to argue against industrial real estate, especially in the current market.

“You get some very attractive returns,” Fraker said. “That’s what’s driving our asset class.”

‘Stability married to progress’: Cedar Hill fosters industry while preserving natural beauty

BY BRANDI SMITH

“We have several long-tenured tenants in our business park. That’s almost 30 years’ worth of relationship building. City leadership and staff laid that groundwork with business owners, with whom we have mutual trust.”

The beauty of Cedar Hill is really unmatched in North Texas. The community of about 50,000 has found a home in the middle of nature, bordered by Cedar Hill State Park and Cedar Ridge Preserve.

“You can live in the Hill Country and drive to Dallas in 30 minutes,” said Kim Buttram, economic development director of Cedar Hill Economic Development Corporation.

Protecting that beauty is an important part of the planning process in Cedar Hill, which dedicates 20 percent of its land to the preservation of nature. To do so, city leaders have also been very thoughtful about where and how companies can settle, thrive and expand. The EDC has also played an important role.

“One thing our EDC is really good at is anticipating the land use and preparing the land for the appropriate use,” Buttram said. “It’s been instrumental in laying the groundwork and infrastructure to support industry.”

Cedar Hill is located southwest of Dallas, just about equidistant from Fort Worth, with easy access to US 67, I-35, I-45 and I-20. In about a half an hour, you can be at either Love Field or DFW Airport. The accessibility of Cedar Hill, which sets it apart from other cities in the Metroplex, is about to improve

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The result is the city’s industrial district, which includes the Cedar Hill Business Park.

“The planning of the industrial district has always been one of the most pivotal things for the city because it positions industry within the natural environment,” said EDC marketing and research manager, Andy Buffington.

“The leadership of the city has really taken that to heart to be discerning. It’s always been a very delicate balance.”

Incorporated just over 30 years ago, the business park boasts tenants such as Dallas Aeronautical Services, Delta Steel and PepWear. As we go to print, only three lots totaling 21.3 acres remain available, for which the EDC is seeking out tenants focused on advanced manufacturing.

“We have several long-tenured tenants in our business park. That’s almost 30 years’ worth of relationship building,” Buffington said. “City leadership and staff laid that groundwork with business owners, with whom we have mutual trust.”

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“It really does usher in a work-life balance. That’s what we hear a lot from new residents or new business owners who are investing in the city: this just felt like the right place. It’s an experience when people actually get here and see and feel all that Cedar Hill has to offer.” further. TxDOT is working on plans for Loop 9, a six-lane frontage road system that would connect US 67 with I-20. In doing so, it would run right through Cedar Hill’s Industrial District, adding another level of access.

“Another advantage here is that we are not as congested as other areas of the Metroplex and our land costs are more accessible than northern areas,” Buttram said.

Those attributes are drawing investors and developers to Cedar Hill. In September, Hillwood announced the purchase of 120 acres with plans to start construction on a $75 million, 1.5-million-square-foot endeavor. The company, founded by Ross Perot, Jr., will begin construction next spring and is scheduled to deliver Phase 1, approximately 380,000 square feet as soon as Spring 2022 with completion in Spring 2023.

“We are so excited to work with Hillwood to attract the best tenants possible for 20

NOVEMBER 2020

that space,” said Buttram. Added Buffington, “Everyone is really pleased that they’ve chosen Cedar Hill.”

Not only are investors, such as Hillwood, choosing Cedar Hill, companies continue locating and growing here. PepWear is a perfect example. Since it relocated to Cedar Hill in 2011, the apparel company has expanded twice. Another tenant, though small now, already land banked a location in Cedar Hill for future growth.

“All that planning is really paying off big dividends now,” Buffington said.

The lure of Cedar Hill is two-fold. Companies are attracted to the corporate amenities available, such as direct access to Burlington Northern Santa Fe Railroad and a number of freeways, as well as the city’s proximity to Dallas.

“We really do have a nice location to utilize the Metroplex to your advantage,” said Buttram.

Similarly, an educated and driven workforce chooses to call Cedar Hill home because of its small town feel and affordability with big city access, not to mention all the natural amenities that surround it.

“It really does usher in a work-life balance. That’s what we hear a lot from new residents or new business owners who are investing in the city: this just felt like the right place,” Buffington said. “It’s an experience when people actually get here and see and feel all that Cedar Hill has to offer.”

The city is also in the process of redeveloping its historic downtown, recently adding a brewery and winery.

“You can live in a place that’s so natural and beautiful, while enjoying the benefits of the Metroplex,” said Buttram. “You don’t feel like you’re in a suburb here. It’s like paradise. It truly is.”

And that’s why Cedar Hill city and EDC leadership are so focused on planning. Leaders here know how important it is to encourage growth while preserving what makes this city so special and unique.

“In the years to come, we’ll make sure to have the right blend of stability married to progress. We have specific areas laid out to grow and change and transform,” Buttram said. “But the people who come here will always be able to

depend on the part of Cedar Hill that makes it unique and beautiful. That will not change. I think that’s comforting to know.”

For more information about development in Cedar Hill, contact the Cedar Hill Economic Development team at 972.291.5132.

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Commanding capital: Flagship Capital Partners funds flow in otherwise dry market

BY BRANDI SMITH

“Given all the uncertainty that's in the market, people are looking for a lender who can close, somebody who can close on the terms they quoted in that first call.”

“Our phones have really been ringing off the hook,” said J.C. Clemens.

The director of investments for Houston-based Flagship Capital Partners, Clemens said the past few months have been about as close to business as usual as they can be under the current circumstances.

“We’re being very smart about the deals we’re choosing to lend on and we’re being thoughtful on our underwriting, but that’s how we’ve always operated as a capital source,” he said.

Doing so has made Flagship dependable and durable, able to continue investing in projects even as the capital markets dried up due to the COVID-19 pandemic.

J.C. Clemens, director of investments for Flagship Capital Partners

Bridge Debt Fund, which provides bridge loans to acquire value-add properties throughout Texas, the southeast and southwest.

“We’re on our fifth debt fund,” Clemens boasts, “so that is a very well-oiled machine.”

He said he’s noticed a decrease in retail deals since the pandemic started, but volume for office, industrial and multifamily has been pretty consistent.

Flagship also offers an Equity Opportunity Fund, a facility by which the company partners with owners and operators as an equity investor with a particular focus on multifamily.

“There are many larger capital providers with a lot of exposure to hotels, retail and oil and gas. Therefore, a lot of them have gone away,” said Clemens.

“We invest with them on a joint venture basis,” said Clemens. “For example, if someone is going to buy an apartment complex and they need a partner to go in with them, Flagship can be that partner.”

He said the advantage of a private capital source such as Flagship is that the company keeps all its loans on its balance sheet. It doesn’t sell those loans off, as some other groups do.

Those equity funds just started flowing at the beginning of the year and already Flagship has closed deals in Austin and Louisville, Kentucky. It’s also looking at deals in Florida and other parts of the Southeast.

“Given all the uncertainty that's in the market, people are looking for a lender who can close, somebody who can close on the terms they quoted in that first call. There’s no bait-and-switch,” Clemens said. “This is what we can do. We know we can do it. And we're closing on those terms.”

“We’re really focused on value-add workforce housing,” Clemens said. “Our partners are going into these properties and fixing them up, then either refinancing or selling them in three to five years.”

Flagship does it so well, its clients are spreading the word about the reliable capital provider that is actively looking to lend right now.

“We have plenty of dry powder that we want to put out in Q4 of this year and all of next year,” said Clemens. “We have capital available.”

Those funds are available via two Flagship programs. The first is its Senior 22

NOVEMBER 2020

Multifamily assets, Flagship knows, are a reliable investment. After all, COVID-19 can shut down retail and hospitality offerings, but when that happens, it’s because people are choosing to stay home.

“People are always going to need a clean, safe and affordable place to live,” said Clemens. “Food and shelter: those are the bare necessities people need to live a safe and happy life.”

said. “That makes it easier for us to custom tailor a capital solution to help fit their needs.”

It’s that custom fit and the challenges that lie in each deal that ignite Clemens’ passion for his job.

“No deal is like any other deal. It keeps it exciting,” he said, adding that he’s always eager to learn from the veterans with whom he works at Flagship.

Ten years into the industry, Clemens said he’s soaking up what he can from mentors, such as Mincberg and Foerster, who have weathered the storms of commercial real estate. He attributes Flagship’s staying power to the decades of experience on its team.

Flagship has a long history with multifamily that even predates its founding

by David Mincberg and Jarrod Foerster in 2011. Before founding Flagship Capital Partners, managing partner David Mincberg owned and operated a portfolio of roughly 30,000 multifamily units. He sold off those properties in the mid-’00s, converting that portfolio into a capital source. In 2011, Flagship was born. That background is one of the reasons the company has been so successful.

“I think a lot of borrowers are attracted to our program because we come from the ownership side, not the New York investment banking side. We really understand what our clients and our borrowers are going through,” Clemens

“They've seen so many deals, so many different structures,” said Clemens.

“Over time, your tool just gets sharper and sharper.”

It’s a tool Flagship is now able to wield during yet another challenging cycle for CRE, one that keeps those phones ringing.

For more information about Flagship Capital Partners, visit FlagshipCo.com or call 713-623-6000.

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CREW Austin Convention Happy Hour October 2020.

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CREW Dallas Clean up for Southpoint Market project.

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Houston Boma at Top Golf.

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TREC Dallas.

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Pamela Bryant with husband, Vernon at Testimonial Tuesday CREW Dallas

Office and Educational Expert Assumes New Role as Managing Director of Office Occupier Services

Colliers International announced that Will Haynes, a professional in the Occupier Services Group since 2016, will assume expanded responsibilities after being promoted to Managing Director, Office Occupier Services for Colliers’ North Texas. “Will is a proven, innovative leader,” said Steve Everbach, president of Colliers International’s Central Region | U.S. Brokerage. “He has a unique ability to communicate to multiple stakeholders in a way that instills confidence and trust among all parties involved in a transaction. He is a huge asset to Colliers and to North Texas and we are excited to have him take on this new role.” Haynes will lead business development activities for Occupier Services while continuing to lead the North Texas Education Services practice group. “I look forward to building and growing this division in North Texas with our high-quality professionals and clients,” said Haynes.

“Leading efforts to drive strategy, enhance culture, grow our business, increase market share and improve levels of client service is what I am passionate about. I am very grateful for this opportunity and look forward to the next phase of my career with Colliers International.” Haynes joined Colliers in 2016 as a Senior Associate advising clients on all aspects of their real estate needs with a primary concentration on educational and corporate organizations.

He has more than 10 years of experience in commercial real estate portfolio management, consulting and strategic planning, lease negotiations and acquisition and disposition of real estate. He began his career in the banking industry and transitioned into real estate in 2009 where he specialized in acquisitions and dispositions of multi-family properties in Dallas. He also served as Vice President at Emmitt Smith Realty Partners in 2016 before joining Colliers.

Active in a variety of professional and charitable organizations, Haynes’ academic background includes an undergraduate degree in Managerial Science at Manhattan College in the state of New York, where he played NCAA Division I basketball. He serves as a member of Colliers Black Equality Taskforce and holds many professional accomplishments including D CEO Magazine’s Power Broker of 2020 and Colliers International’s Mike Crain Award. He is a member of the Leadership Dallas Alumni, a leadership program run by the Dallas Regional Chamber and is currently in the Leadership ISD 2020 class, a nonprofit that advocates for public education. Haynes is also an active volunteer with a youth basketball organization and St. Phillips School and Community Center.

About Colliers International Group Inc. Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.

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Data Centers < Continued from Page 15

Rental rates in these markets have remained steady, but JLL predicts that there could soon be an increase, especially as population growth is expected to continue in both markets. A lack of turnkey space requires longer-term capacity planning, but also presents opportunities for providers to develop spec space.

Outlook

One major change in the data center landscape is a shift from enterprise users occupying the majority of space to mounting demand from cloud companies.

JLL anticipates more activity, especially with certain providers bumping up against their maximum capacity as major leases close throughout the ensuing 12 months.

In fact, investors should expect that trend to drive the narrative nationally through the end of the year and into early 2021. Even as the pandemic spurred unprecedented demand during the first half of 2020, financial uncertainty put the brakes on many deals. As a result, there is a sizable backlog at the moment.

And as much of a gut-check as COVID-19 has been, it likely will further incentivize companies to migrate their data from private servers to public cloud providers. This movement has been gaining in momentum the last few years and the uncertainty of our current situation should push more companies in this direction.

Hosting and managing oneâ&#x20AC;&#x2122;s own data provides businesses with unrivaled control and security. The tradeoffs, however, are relevancy and cost. IT infrastructure evolves at a nearly exponential rate; if corporations want to keep pace with this change, they have to heavily invest not only in new hardware, but training for employees. Cloud providers, however, can diffuse these costs across all the users of their services, allowing them to offer the latest and fastest technology at cheaper rates.

Whether or not the economy continues to lag for the next several quarters as a result of the pandemic, data centers appear to be one of the few truly recessionresistant real estate sectors. Bull market or bearâ&#x20AC;&#x201D;this asset class is in excellent shape regardless of what the near future holds.

advertiser index ABCO................................................................................................................ 7 Anna EDC......................................................................................................... 15 Cedar Hill EDC................................................................................................ 1 City Management, LLC................................................................................. 11 Converse Economic Development Corporation...................................... 21 CRG Texas........................................................................................................ 2 Evtex Companies........................................................................................... 9 La Marque Economic Development Corporation................................... 3 Lincoln Property Company.......................................................................... 19 Marcus & Millichap....................................................................................... 5 Marcus & Millichap Houston...................................................................... 13 National Environmental Services, LLC...................................................... 35 Phase Engineering......................................................................................... 24 Quick Realty Advisors.................................................................................. 1,17 The Real Estate Council - Greater Ft. Worth........................................... 18 Worth Associates........................................................................................... 23

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NOVEMBER 2020

2020 Texas Women in Commercial Real Estate

Butler-Cohen Design + Build

Butler-Cohen Design + Build

New Business and Marketing Manager

Pre-Construction Manager

Jennifer Garaghty (Grewal) P: 714.552.8666 jennifer@butlercohen.com 3200 Southwest Freeway Suite 1575 Houston, TX 77027 www.butlercohen.com

Abigail Soto

P: 713.534.1800 abigail@butlercohen.com 3200 Southwest Freeway Suite 1575 Houston, TX 77027 www.linkedin.com/in/abigail-soto-14926271

I’m a people person, goal orientated, and extremely funny door opener who can walk and talk with the best of them.

I humanize our company through marketing and I thrive at connecting the dots to reach decision makers. I went to school for fashion design yet hard hats won out.

Pre-Construction Manager experienced in collaborating with designers, construction management teams, and subcontractors in evaluating all documentation associated with the designbuild process including commercial, justice, and educational projects. My attention to detail is reflected in my thorough cost estimates. I enjoy performing calculations and research to develop cost-reducing methods, managing the bidding process, and forming strong relationships with all parties involved.

Leaders in full-service construction serving the educational, industrial, commercial and justice markets. When you partner with Butler-Cohen, you’ll experience design and construction the way it’s meant to be.

Leaders in full-service construction serving the educational, industrial, commercial and justice markets.

When you partner with Butler-Cohen, you’ll experience design and construction the way it’s meant to be.

What advice would you give to your younger self?

Do you have a favorite quote or saying/What advice would you give to your younger self?

If you do something, do it well. No matter what I’m working on or who I am meeting with, I give every situation the best of me. I don’t want my name associated with something that is less than stellar.

Name a charity or cause that you are passionate about:

My cousin was adopted from an orphanage in Panama called Hogar Malambo. It’s been a special place to go back and visit throughout the years. https://www.hogarmalambo.org

Name a charity or cause that you are passionate about:

Supporting the Gulf Coast Regional Blood Center is a selfless way to give back to our community.

Feel free to visit www.giveblood.org to find out how you can help.

CenterPoint – Houston Regional Office

Drake Commercial Group

Senior Vice President, Asset Management

Founder

Danielle Radtke

P: 832.431.3097 dradtke@centerpoint.com 800 Town and Country Blvd., Suite 500 Houston, TX 77024 www.centerpoint.com Danielle is a 21-year veteran at CenterPoint. She is responsible for managing CenterPoint’s asset portfolio and executing the Company’s investment strategy in the Central Region. She oversees and manages a team of fourteen people that handle the property operations for 192+ properties. She also oversees leasing for 23 Million SF of industrial assets.

CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. We’re proud that nearly 50% of all CenterPoint Properties’ employees are women and take great pride in promoting equality, leadership and personal growth for everyone.

Do you have a favorite quote or saying?

“Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it.” - Johann Wolfgang von Goethe

Name a charity or cause that you are passionate about:

Young Life (www.younglife.org) Young Life is a non-profit Christian ministry that reaches out to middle school, high school and college aged kids in all 50 states of the U.S. as well as 90 countries around the world.

They are funded through donations from individuals, foundations as well as businesses.

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“Know what you don’t know”. Ask questions, leaders have the confidence to ask questions and don’t let what they don’t know keep them from going forward successfully.

NOVEMBER 2020

Deborah Bauer

P: 210.402.6363 | F: 210.402.6767 deborah@drakecommercial.com 4630 N Loop 1604 W Suite 510 San Antonio, TX 78249 www.drakecommercial.com Founded Drake Commercial Group in 1992 as one of a few women in a male dominated world of Commercial Real Estate large land transactions. Deborah has taken the business to one of the most respected commercial companies representing some of the largest land, retail and multi-family sites. She is the recipient of numerous awards including the Crew National Impact AwardEntrepreneurial Spirit.

Drake Commercial Group represents investors and developers for retail, office, multi-family and large master planned developments. Deborah has won several awards including Best in Commercial Real Estate, Best Land Deal and Best Office Lease.

What advice would you give to your younger self?

My mother was my role model for how to be a lady in everything you do. She treated everyone with compassion and respect. I strive everyday to be like her. She taught me the love of family and putting God first in your life.

Name a charity or cause that you are passionate about:

As one of the founders, Women Give Back is a non-profit donating 100% of funds to charity. Through fundraising campaigns, WGB has reinvested thousands of dollars back into San Antonio. https://womengiveback.com/

Emersons Commercial Real Estate

Hartman Income REIT

Managing Partner

Regional Director of Property Management - San Antonio

Karen Simon

P: 817.832.4646 ksimon@emersoscre.com 4200 S. Hulen Street. Suite 412 Fort Worth, TX 76109 www.emersonscre.com Karen L. Simon is the Managing Partner of the Emersons Commercial Real Estate office located in Fort Worth, Texas. Karen specializes in office, retail industrial and land sectors in both leasing and sales and is responsible for marketing activities west of Dallas County. Ms. Simon has completed over 900+ transactions encompassing thousands of acres of land and 6,000,000 square feet of building area. Karen with over 30 years of brokerage experience was the first woman in Tarrant County to practice industrial real estate and the first female broker to be named the highest industrial producer in the Dallas/Fort Worth area during her years with Henry S. Miller.

Emersons Commercial Real Estate Co. manages and or leases over 7M square feet in DFW. Its partners bring a combined 100 years of experience to the management of our client portfolio. Through our ownership in 1045, we are active throughout the country and manage more than 100 million square feet. Our proactive approach to management seeks to maximize NOI through operating efficiencies, and to preserve and enhance asset value, while maintaining strong tenant relations on behalf of our clients.

What advice would you give to your younger self?

Always make an effort to research and be familiar with the properties and area that you are focusing on.

Knowledge is power. Be prepared and be courteous.

Name a charity or cause that you are passionate about:

Amy R. Garcia

P: 210.714.5220 agarcia@hi-reit.com 613 NW Loop 410, Suite 560 San Antonio, TX 78216 www.hi-reit.com I am an experienced Regional Director with a demonstrated history of working in the commercial real estate industry. Skilled in Commercial Leasing, Working with Landlords, Construction Management, Tenant Retention, and Property Management.

For more than 35 years, Hartman has delivered commercial space for lease with an unparalleled customer experience and a personal touch in the three largest markets in Texas: Houston, Dallas and San Antonio.

Do you have a favorite quote or saying?

The only way to do GREAT work is to LOVE what you do!

Name a charity or cause that you are passionate about: Ronald McDonald House Charities - San Antonio www.rmhcsanantonio.org

I am a big supporter of the Jewel Charity Ball whose primary function is to raise money for Cooks children’s hospital. No child will be untreated because of the lack of money to pay - Uncompensated care is key.

Hartman Income REIT

Hartman Income REIT

Vice President of Leasing- Houston/San Antonio

Chief Operating Officer

Kacie Skeen-Kinnamon P: 832.655.1196 kskeen@hi-reit.com 2909 Hillcroft Suite 420 Houston, TX 77057 www.hi-reit.com

Kimberly Strickland P: 713.467.2222 kstrickland@hi-reit.com 2909 Hillcroft Suite 420 Houston, TX 77057 www.hi-reit.com

Kacie Skeen-Kinnamon, graduated from University of HoustonDowntown Magna Cum Laude. She began her real estate career in property management managing over 1 million square feet. She then transitioned into Leasing and has consistently been a Top Producer since 2016. She worked her way up to Vice President and currently leases a portfolio of over 1.2 million square feet in Houston and San Antonio while managing her sales team.

Kimberly Strickland serves Hartman as Chief Operations Officer. Mrs. Strickland’s responsibilities include oversight of property management, marketing, office services and human resources encompassing over 100 employees, more than 60 commercial properties, and eight million square feet.

For more than 35 years, Hartman has delivered commercial space for lease with an unparalleled customer experience and a personal touch in the three largest markets in Texas: Houston, Dallas and San Antonio.

For more than 35 years, Hartman has delivered commercial space for lease with an unparalleled customer experience and a personal touch in the three largest markets in Texas: Houston, Dallas and San Antonio.

What advice would you give to your younger self / Do you have a favorite quote or saying?

“If you set your goals ridiculously high and it’s a failure, you will fail above eyeryone else’s success.” -James Cameron. Aim high and do whatever it takes.

Name a charity or cause that you are passionate about:

Ever since 2015 when her mother survived a massive heart attack, Kacie has been an advocate, volunteer, and donor for The Heart Foundation, theheartfoundation.org. She also is involved and passionate about her church RPC, riverpointe.org.

Do you have a favorite quote or saying?

“Do not let kindness and truth leave you; Bind them around your neck, Write them on the tablet of your heart.” - Proverbs 3:3

Name a charity or cause that you are passionate about:

I have a passion for helping animals and finding them the best homes.

Houston Friends 4 Life https://friends4life.org/

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Hartman Income REIT

Lane Property Tax Advocates

Regional Director of Property Management Dallas

Vice President - Consulting Services

Lisa Tomich

P: 713.467.2222 ltomich@hi-reit.com 2909 Hillcroft Suite 420 Houston, TX 77057 www.hi-reit.com Lisa Tomich serves as the Regional Director of Property Management for Hartman Income REIT’s Dallas portfolio. Overseeing the management operations of 17 office, retail and flex buildings totaling over 2.6 million square feet, she has been with the Company for 5 years. She leads a high performing team of 40+ Property Management professionals throughout Dallas, Arlington and Irving.

For more than 35 years, Hartman has delivered commercial space for lease with an unparalleled customer experience and a personal touch in the three largest markets in Texas: Houston, Dallas and San Antonio.

What advice would you give to your younger self ?

Your life will be composed of many chapters. Learn from each of them, take away the positives and be ok with starting a new one.

Name a charity or cause that you are passionate about:

The Salvation Army - https://www.salvationarmyusa.org Treasured Friends Animal Rescue - http://www.treasuredfriendsrescue.org

P: 832.358.2000 | F: 832.358.2055 rhonda@lanepropertytax.com 8990 Hempstead Highway, Suite 100 Houston, TX 77008 https://lanepropertytax.com/ Rhonda Jones is a licensed Realtor, holds a Property Tax Consultant license and leads business development efforts for Lane Property Tax Advocates. In her 20+ years in the real estate industry, she has experience with property tax protest, property management, renovations and being a Realtor.

Lane Property Tax Advocates specializes in helping commercial property owners reduce their tax burden. Our experienced team understands clients’ needs, develops plans and delivers tailored services to achieve maximum property tax savings.

Do you have a favorite quote or saying?

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” -Maya Angelou

Name a charity or cause that you are passionate about:

Treasured Vessels Foundation - treasuredvesselsfoundation.org The after care and dedication Alicia Bush puts into the healing and mental health of these girls who were exploited in sex trafficking is truly a gift from God.

Method Architecture

Netco Investments, Inc.

Associate Principal

Real Estate Manager

P: 713.842.7500 jrye@methodarchitecture.com 2118 Lamar Street, Suite 200 Houston, TX 78216 www.methodarchitecture.com

P: 972.867.1100 Ext 25 anna@netcoinvestments.com 1800 Preston Park Blvd. Suite 104 Plano, TX 75093 www.netcoinvestments.com

Jackie Rye, AIA

Jackie Rye is an Associate Principal at Method Architecture. She oversees one of Method’s ground-up buildings teams and manages some of the firm’s largest and most complex projects. From office and industrial to retail and hospitality, Jackie manages a breadth of project types from start to finish.

Method Architecture is an ego-free architecture firm specializing in ground-up and tenant interiors projects for industrial, office, retail, hospitality, breweries and distilleries, and public clients.

Method has offices in Houston, Austin, Dallas, and San Antonio.

Do you have a favorite quote or saying?

My favorite quote is “If at first you don’t succeed, fix your ponytail, and try again.”

Name a charity or cause that you are passionate about:

Big Brothers Big Sisters https://www.bbbs.org makes meaningful, monitored matches between adult volunteers and children in order to develop positive relationships that will help children realize their potential and strengthen their community.

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Rhonda Reynolds Jones

NOVEMBER 2020

Anna Rodriguez

Anna began her career Anna began her 20 year career in Commercial Real Estate with companies such as Bradford Commercial, Fobare Commercial, Dalfen Corporation, Hudson Peters Commercial and Tekin & Associates. Her 10 year tenure at Bradford Commercial included Lease Administration providing support for the Industrial Brokerage team, Property Management of several Industrial portfolios, Marketing and Leasing of several property listings. Her transactions include a 15,000 sq.ft. lease of industrial warehouse to Xtreme Wheel & Tires and is working on a CPM designation through IREM. Established in 2002, NetCo Investments, Inc. is a privately held commercial real estate investment company focused on acquiring, redeveloping and repositioning shopping centers and vacant retail buildings. Whether the asset is in need of aggressive leasing, better management or redevelopment, NetCo Investments is experienced in each of these areas. Our hands-on management style ensures the quality, value, and a firm commitment to each investor, lender, tenant, and community in which we invest.

Do you have a favorite quote or saying?

I can do all things through Christ who strengthens me!

Name a charity or cause that you are passionate about:

Brighter Tomorrow’s Women’s Shetler and any organization that helps battered women.

Prologis

Rastegar Property Company

Real Estate and Customer Experience, Regional VP

Chief Operations Officer

Kate Rutherford

P: 847.420.8321 krutherf@prologis.com 2021 McKinney Ave, Suite 1050 Dallas, TX 75201 Kate Rutherford is Real Estate and Customer Experience, Regional VP in the Dallas office for Prologis. In this capacity, she is responsible for the property and customer account management in the Dallas, Houston, San Antonio, Austin and Nashville markets.

Previously, Kate was Leasing Manager and Senior Property Manager in the Chicago office for Prologis.

Prior to joining Prologis, Kate worked for Colliers International and Trammell Crow Company, specializing in asset and property management.

Kate is an active member of CREW, IWIRE and the National Association of Industrial and Office Properties (NAIOP). She holds a Bachelor of Science degree from Towson University and is currently pursuing the CCIM designation.

Kim Langers

P: 512.729.7777 connect@rastegarproperty.com 1705 S. Capital of Texas Hwy, Suite 400 Austin, TX 78746 rastegarproperty.com As Chief Operations Officer of Rastegar Property Company, Kim oversees and coordinates the activities of the asset management and development team, marketing, technology, business strategy, and operations. She is instrumental in fostering the growth of the company and building a team that takes it to the next level.

Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States.

Do you have a favorite quote or saying?

“It’s better to do nothing with your money than something you don’t understand.” - Suze Orman

Name a charity or cause that you are passionate about:

Mothers Against Drunk Driving (MADD) is one of my favorite charities because it has been effective in changing laws and given a powerful voice to the victims.

Rastegar Property Company

Sandspoint Property, Ltd.

Kellie Rastegar

Alicia Church

P: 512.729.7777 connect@rastegarproperty.com 1705 S. Capital of Texas Hwy, Suite 400 Austin, TX 78746 rastegarproperty.com

P: 713.219.1301 abchurch@swcontrols.com

Co-founder & Creative Director

As Co-founder & Creative Director of Rastegar Property Company, Kellie specializes in luxury, residential, commercial, and new development of real estate. Her passions include philanthropy and arts & design, and her customer service, communications & hospitality background helps Rastegar deliver top services to clients, ensuring every detail runs smoothly, every time.

Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States.

Do you have a favorite quote or saying?

“Everything you can imagine is real.” - Pablo Picasso

Name a charity or cause that you are passionate about:

The Ocean Cleanup Project is something that I am very passionate about because of my strong commitment to environmental consciousness and best practices in conservation. The Ocean Cleanup is on a mission to developing advanced technologies to rid the world’s oceans from plastic pollution. www.theoceancleanup.com

Property Manager

6720 Sands Point Dr. Suite 204 Houston, TX 77074 LoopNet - https://listingmanager.costar.com/ listing/4022187 I’ve been in Property Management business for 20 years maintaining Office, Retail and Warehouse spaces with family members who have their Real Estate Broker’s license. I work hand in hand with Contractors, Roofer and Architects on our remodelings.

We are a family run business. In our Office building we are owner users with long term Tenants.

Our business is diversified with Office, Retail and Warehouse spaces in Houston and Dallas. Our properties are renovated and remodeled to maintain a quality of good standard.

What advice would you give to your younger self/Do you have a favorite quote or saying?

All Tenants want something different! Be Flexible.

“The shoe that fits one person pinches another; there is no recipe for living that suits all cases.”

by Carl Jung

Name a charity or cause that you are passionate about:

Houston SPCA, NPR-Nat’l Public Radio, Wounded Warriors, World Wild Life Fund Disable Veterans, Meals on Wheels

NOVEMBER 2020

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Strongtower Commercial Group

Osenbaugh and Associates

Principal, MBA

Owner

Dawn J. Brewer

Lynny Osenbaugh, MAI,CCIM

P: 281.733.4077 dawn@strongtowercommercial.com 7717 Louetta Rd Ste. 12041 Spring, TX 77391 strongtowercommercial.com Accomplished Professional with 15+ years of experience in Commercial & Residential Real Estate. Focused individual, proficient in Client Relationship Management, Competitive Analysis, and Contract Negotiation in competitive markets. High level of integrity and dedication to company objectives.

Strongtower Commercial Group, the Premier Real Estate Investment, Brokerage and Management firm in Texas. We specialize in creating structured transactions, and establishing relationships that last by building trust. We work diligently to understand the needs of our clients, in order to achieve the results they desire.

What advice would you give to your younger self?

Confess your Trust; Command your Soul - Remain focused on the promises of God, always Trust in The Lord.

P: 713.682.0695 F: 713.682.0698 losenbaugh@gmail.com P.O. Box 55769 Houston, TX 77055 www.osenbaughandassociates.com Ms. Osenbaugh is a TX real estate broker, real estate appraiser and qualified expert witness who has testified in condemnation cases involving right of ways, pipelines easements, bankruptcy, taxes, partial interests, construction defects, environmental, and inverse condemnation.

Osenbaugh and Associates is a Texas based real estate company specializing in appraisal, brokerage, consulting and litigation support. Our team is well qualified to assist clients in all property types including office, industrial, retail, multi-family, tax credit housing, land, billboards, energy/transportation/pipeline corridors, salt domes, as well as unique asset classes.

Do you have a favorite quote or saying?

Do what you love and you will never work a day in your life.

Name a charity or cause that you are passionate about: CREW Foundation

Name a charity or cause that you are passionate about: B’s Girls Foundation https://bgirlfoundation.com/

SVN Dunn Commercial

Transwestern

Vice President

Vice President

Courtney Dunn, CCIM P: 972.998.2361 Courtney.dunn@svn.com 1202 Corporate Drive West Arlington, TX 76006 www.dunncommercial.com Courtney Dunn, CCIM serves as the Vice President of SVN Dunn Commercial where she facilitates the acquisition, disposition, and leasing of industrial & office properties in DFW. Courtney currently serves on the board of the North Texas CCIM Chapter and is an active member of the Dallas Junior League.

SVN Dunn Commercial, is a full service commercial real estate brokerage firm. We provide commercial real estate services to large corporations, middle market businesses and individual entrepreneurial investors.

Do you have a favorite quote or saying?

“The secret of change is to focus all of your energy not on the old, but on building the new.” Socrates

Name a charity or cause that you are passionate about:

Junior League of Dallas https://www.jld.net/ The Junior League of Dallas is an organization of women committed to promoting voluntarism, developing the potential of women and improving the community through the effective action and leadership of trained volunteers.

Stephanie Swanson P: 713.468.4928 stephanie.swanson@transwestern.com 820 Gessner, Suite 200 Houston, TX 77024 www.transwestern.com Stephanie oversees an office tower portfolio in the greater Houston area and directs property management operations for the Office Management Group.

She is experienced in all aspects of real estate management, including property management, fiscal management and construction supervision of commercial high-rise, retail and industrial portfolios for institutional and private equity clients. Stephanie has served as the 2018 IREM Houston Chapter President, is a member of CREW and BOMA. She is currently serving on the Education and Products Committee for 2020 IREM National.

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 33 U.S. offices and assists clients from more than 219 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern. com and @Transwestern.

What advice would you give to your younger self?

The advice I would give my younger self would be to relax and take time for yourself. Do not become self absorbed within your position, but control the position by doing your best and allow yourself to let go when it is time to go home. Focus on work-life balance.

Name a charity or cause that you are passionate about:

Dress for Success Houston is a charity that I support and find very important for women that need assistance. www.dfshouston.org “One woman, one suit, one job can change the world!” - quote from Dress For Success

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NOVEMBER 2020

Worth & Associates

Worth & Associates

President of Operations and Property Management

Vice President of Property Management

Jordan Worth Arriaga

P: 210.822.5220 | F: 210.822.5224 jordana@worthsa.com 7373 Broadway, Suite 201 San Antonio, TX 78209 www.worthsa.com Jordan Worth Arriaga serves as the President of Operations and Property Management for Worth & Associates. With a strong background in commercial real estate investment banking, she is responsible for originating commercial loans for Worth & Associates and its affiliates in excess of $400 million. She is also responsible for overseeing a property management staff that manages over 3 million square feet of commercial property in and around San Antonio.

Worth & Associates is a locally owned San Antonio commercial real estate development, investment and brokerage firm that operates a stable portfolio of more than 3 million square feet of commercial real estate properties owned and managed internally.

Do you have a favorite quote or saying?

“Without dreams and goals there is no living, only merely existing, and that is not why we are here.”

– Mark Twain

Name a charity or cause that you are passionate about:

Sandra Wilson

P: 210.377.0996 | F: 210.822.5224 sandraw@worthsa.com 10101 Reunion Place, Suite 170 San Antonio, TX 78216 www.worthsa.com Sandra Wilson, Vice President Property Management for Worth & Associates Property Management, is responsible for providing leadership and motivation to promote a positive, growth-oriented environment for all property management staff as well as managing commercial properties in and around San Antonio and the south Texas region.

Worth & Associates is a locally owned San Antonio commercial real estate development, investment and brokerage firm that operates a stable portfolio of more than 3 million square feet of commercial real estate properties owned and managed internally.

Do you have a favorite quote or saying?

“I am no more, I am no less, I am enough.” By Phileena Heuertz

Name a charity or cause that you are passionate about:

St Jude Children’s Research Hospital (stjude.org) Children and their families are never turned away but they are always given the gift of hope at no monetary cost.

Make-A-Wish Foundation (www.wish.org.) The Make-A-Wish foundation makes dreams a reality and gives children the spark to believe that anything is possible and the strength to fight harder against their illness.

Worth & Associates

Elisabeth Rose Property Manager

P: 210.822.5220 | F: 210.822.5224 elisabethr@worthsa.com 2722 W. Bitters Road San Antonio, TX 78248 www.worthsa.com Elisabeth is a Property Manager for Worth & Associates Property Management. She manages a portfolio of 340,000 square feet of Class A Office and Flex Space in San Antonio, and leverages her experience in budget preparation, financial reporting and operations oversight to maximize profits for her Owners and deliver fantastic customer service to her Tenants.

Worth & Associates is a locally owned San Antonio commercial real estate development, investment and brokerage firm that operates a stable portfolio of more than 3 million square feet of commercial real estate properties owned and managed internally.

Do you have a favorite quote or saying?

“Never let success get to your head and never let failure get to your heart.” - Ziad K. Abdelnour

Name a charity or cause that you are passionate about:

Make-A-Wish Foundation (www.wish.org.) The Make-A-Wish foundation makes dreams a reality and gives children the spark to believe that anything is possible and the strength to fight harder against their illness.

Thanks for participating Hope to see you again in 2021 Texas Women in Commercial Real Estate

NOVEMBER 2020

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REDnews TEXAS COMMERCIAL REAL ESTATE ICONS 2020

TEXAS COMMERCIAL REAL ESTATE

ICON NOMINATIONS

The Texas commercial real estate industry is filled with inspirational leaders and successful business professionals. These leaders have helped shape the landscape of their cities.

And for this, they deserve to be honored.

This January, REDnews will publish its inaugural Texas CRE Icon class of inductees into the 2020 Texas Commercial Real Estate Icons. This issue will feature profiles of the most important players—from all facets of the business—in the commercial real estate industry.

To make this issue a success, we need your help. We’re relying on nominations from Texas commercial real estate professionals to help us better understand those that warrant inclusion into our 2020 Texas CRE Icon class.

TO NOMINATE PLEASE VISIT: https://rejournals.com/txicons2020/ NOMINATION DEADLINE: NOVEMBER 13TH!

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* Performed in Texas in partnership with Terrain Solutions, Inc., Texas Geoscience Firm Registration # 50018

National Environmental Services 5773 Woodway Dr, Suite 96, Houston, TX 77057: Phone (281) 888-5266 700 East Redlands Blvd, Suite U618, Redlands, CA 92373: Phone (951) 545-0250 Toll Free: (833) 4-Phase1 www.nationalenv.com • www.gabrielenv.com

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