redNEWS October 2013

In this issue:

What’s Happening

with Texas Land

Business Round-Up

Hotels

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

October 2013

The Most Unique Sportsman’s Ranch within 100 miles of the Sam Houston Tollway

2,040 Acres, Will Sub-Divide (Call for Details) Edna, TX - Jackson County • 3 Miles of Live Water Chicolete Creek • High Fenced, Stocked with 200” B&C Whitetail Deer • 7 Water Fowl Lakes • 4 water wells, 1 Irrigation Well • Rolling Sandy Hills Covered in Huge Live Oaks • 1.5 Hours from Houston, 30 Minutes to Victoria, 10 Minutes to Edna

Commercial Development Land in Eagle Ford Shale Cuero, Texas

40 Acres, All or Part Additional Acreage Available • Tractor Supply Next Door • 1,500 Feet of Frontage on Hwy 87 • City Utilities Located at SW Corner • $1.00/SF

CONTACT INFO

www.lgland.com

Matt Mann (713) 402-8827 matt@lgland.com

CONROE, TEXAS

From manufacturing to technology,

the premier business address 248-acre technology park and 1,045 acre industrial business park Adjacent to Lone Star Executive Airport that facilitates corporate travel Local and state incentives Lone Star College Conroe Center On-site campus Workforce training Continuing education Low cost energy and utilities Both parks perfect for local, regional, national and international operations and headquarters Distribution and transportation convenience No personal state income tax Low taxes and operating costs Exceptional quality of life

L a rr y C a l h o u n E xe c u t ive D i re c t o r

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Conroe Park North

Table of Contents

Land Development Interviews Land Market as HOT as Houston’s Ever Seen it

10

Houston’s ‘Path to Progress’

12

“It’s the Best Its Ever Been”

14

30,000 Home Starts a Year in Houston?

16 – 17

Developments of MPCs in North Texas

18

Path of Progress in North Texas Continues Northward

20

Patience Pays Off

24

MAPS Texas Land Transactions Texas Master Planned Communities redNEWS Business Roundup Advertisers Index Texas Classifieds

22 – 23

28 - 30 26, 27 41

41

“Last Page”

42

Properties For Sale/Lease

1-3, 5-9, 11, 15, 17, 19, 21, 25, 27, 31, 41

Commercial Services Environmental

33

Lending

41

What’s Happening in Texas CRE Calendar of Events

Networking Photos Deals & Announcements

4 redNEWS.com

32, 34, 35, 43, 44 36, 37 38 – 40

For Sale

Unique Development Opportunity located near the World-Renowned Texas Medical Center Galleria Rice University

Texas Medical Center

Veterans’ Hospital

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MD Anderson Southeast Campus

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Property Highlights ▪ Largest vacant land tract in the Texas vard

▪ All utilities to site ▪ Ideal uses include, medical: office, clinic,

METRORail route

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▪ Asking Price: $29.50/PSF

• 45.8 million SF • 1,345 acres • 290 bldgs.

▪

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research, hospital, warehouse; residential multi and single family, data center and mixed-use development.

▪ This site is less than one mile from the

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For Sale, Joint Venture and or Build-to-Suit

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2013 Facts & Figures ▪ Member Institutions: 54 ▪ Annual Patient Visits: 7.2 million ▪ Employees: 106,000 ▪ Full-time Students: 49,000 ▪ Total Hospital Beds: 7,000 ▪ Annual Surgeries: 171,000 ▪ Total Budget (All Institutions): $15 billion ▪ Total Size/Gross Square Footage (All Campuses):

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±1.3

6.74

Medical Center area

▪ ▪ ▪

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The Texas Medical Center is the largest medical center in the world. It is an internationally recognized community of patient care, education and research. The Texas Medical Center in Houston is home to many of the nation’s best hospitals, physicians, researchers, educational institutions and health care providers.

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Texas Medical Center

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Houston

Additional Projected Development is: ±28 million SF

For further information, please contact our exclusive broker:

Sam Sheff, CCIM Managing Director 713.599.5145 ssheff@ngkf.com

www.ngkf.com

Publisher’s Letter

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FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

Dear Readers, Wow! I covered Land and Master Planned Communities in this issue and what an eye opener those conversations have been. The volume of land transactions that are taking place across Texas is nothing short of incredible. I spoke with numerous land brokers across the state this month and consistently heard “If it’s shovel ready, it’s sold.” Stan Creech, who has spent the past 40 years marketing land, says, “This is the best it’s ever been in Texas and it’s real”.

Jim Gaines, Research Economist with the A&M Real Estate Center, predicts that our Lone Star State will add twice as many people in the next 40 years as it did in the previous 40. This will equate to adding around 30 million Texas residents over the next four decades. Or, as Kirk Laguarta says, “It’s as if the population of San Antonio is moving to Houston every 9-10 years.”

Master Planned Communities are popping up throughout Texas (see pages 28-30). Some of these were dormant during the 2007-09 years and have been sold, resold, or restarted. Houston is behind the curve in creating residential lots; Kirk Lagaurta estimates that it will take an additional 12,000 acres of land to produce the 30,000 residential lots needed annually to keep up with the needed new housing starts.

All this development is outstanding for our economy and the hope is that our infrastructure can keep up. Transportation Advocacy Group officials estimate that the average Houston driver spends $343 annually in additional car repair costs, increased fuel consumption, and tire wear because of poorly maintained roads. The average driver in major metro areas in Texas spends about 37 hours every year sitting in traffic congestion; this number is projected to double to 74 hours by 2028 if transportation funding does not keep pace with population growth and development.

Next month is our Texas ICSC Retail Focus issue and we’ll be at the event in Dallas so hope to see you all there!

Best Regards,

Ginger Wheless

6 redNEWS.com

Beautiful Grimes County Ranch 54 minutes/miles NW out 290 from Memorial City

7,500 SF Gorgeous Hill Country Lodge Retreat fully decorated and furnished with soaring beamed ceilings, chefâ&#x20AC;&#x2122;s kitchen, 2nd floor gameroom, 4,800 SF entertaining pavilion, 3 massive Austin stone fireplaces, concrete tree lined drive and miles of board fencing.

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Less than 1 hour away!

Home and 20 acres: $1,500,000

(up to additional 120 acres available @ $15,000/acre) Non-Approval flexible no recourse owner financing Brokers Protected; full 6% fee to Broker

Mitch Zarsky | 713-825-0728 | mitchzarsky@yahoo.com

Large Blocks of Space For Lease NOW LEASING | 8313 Southwest Freeway

Kris Lilly| klilly@tarantino.com 1505 Highway 6

AIRPORT Office Building | For Sale or Lease

Peggy Rougeou | peggy@tarantino.com | 713.974.4292

Houston & San Antonio Areas - Lease/Sale Ella Plaza

Woodland Hills

Larry Vickers | larry@tarantino.com Ella Plaza

De Zavala

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Mike Mangum | mangum@tarantino.com

Corporate Office: 7887 San Felipe, #237 Houston, TX 77063 (713) 974-4292

San Antonio Office: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222

Austin Office: 502 East 11th Street, #400 Austin, TX 78701 (512) 302-4500

land development INTERVIEW

Hot

Land Market as as Houston has ever Seen It! Written by Janis Arnold Ryan Sweeney, a Houston land broker with NewQuest Properties, has been in the business for nine years. Ryan entered the land market at a time when Houston was experiencing tremendous growth in the single-family residential market. Ryan has worked on the disposition of commercial assets on behalf of NewQuest Properties for a number of different commercial uses as well as marketing and representing thirdparty landowners and portfolio landowners on the disposition of those assets. In the last two years, Sweeney has been involved in the sale of land for industrial, hospitality, senior living, medical, multi-family, retail and single-family development.

At the present time, the land market is as hot as Sweeney has ever seen it. Single-family developers and homebuilders are purchasing large and small acreage tracts as quickly as they become available, on and off the market. Currently in the greater Houston area, if there’s a land tract that’s over 25 acres in a market with good school districts, utilities available, and reasonable infrastructure that can be engineered to develop the majority of the site, it’s either been looked at, bought, or is currently under contract. The school districts seeing the most demand include Ft. Bend County, Katy, Spring Branch, Spring, Cypress-Fairbanks, The Woodlands, and Pearland. Additionally, all inner-loop tracts that have configurations able to accommodate high-end, highdensity development are in play as well.

Sweeney suspects that the Houston area land market could plateau in the next year as multi-family and office developers reach the maximum that they can pay for dirt based on the rents that they feel are achievable. 95% of the land transactions that Sweeney has handled in the past 18 months have been cash deals, so financing on the land acquisition is not evident prior to closing.

Today’s buyer is sophisticated and has the tools and resources necessary to be able to evaluate a tract and make sound decisions, engineering wise, based upon their pro forma. All properties have to address utility availability, engineering and detention aspects of the site. In some cases, utility capacity to serve the tract, regardless of being in a district or not, is not readily apparent. In those cases, additional time and expense are needed to develop and go through the procedures of expanding any type of water plant or storm sewer plant. Developers today are taking the initiative to provide the amenities of a small city: nearby grocery, retail, medical, office, and small business workplaces

10 redNEWS.com

designed to reduce commute time and add to the tax base of the greater Houston metro areas.

One caution for land owners is that, as available properties are evaluated for development acquisition, all land is not created equal. In today’s market, the word is definitely out that prices have gone up, and that a plateau may be imminent, but no one is exactly sure how to interpret land value. Sometimes a property’s characteristics are such that it can’t be easily duplicated and thus will justify top dollar; however, brokers need to be able to recognize and report that not all land tracts are justified to have the same rapid value appreciation. A property that is in the right location, and has the infrastructure already in place is likely already sold. Properties that lack some of the key characteristics, other than location, can be developed, but feasibility studies alone can take months which adds to the bottom line and needs to be accounted for in the purchase price. And today’s buyers are much more sophisticated. They can tell the difference between raw land and shovel ready land.

Currently in the Greater Houston area, if there’s a land tract that’s over 25 acres in a market with good school districts, utilities available, and reasonable infrastructure that can be engineered to develop the majority of the site, it’s either been looked at, bought, or is currently under contract.

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

Land Sites Available

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11

8

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2. 25.47 Acres 2854 FM 2920, Spring TX 77388

1. Bridgeland MPC - Lakeland Village Center Cypress, TX 77433

• 70,000+ SQFT Retail / Office Space for Lease, Pad Sites Available for Ground Lease/BTS

6

• Located on North side of FM 2920, west of I-45.

• Surrounded by explosive residential and commercial development.

7 10

3 12

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3. 85 Acres Dry Creek , Magnolia TX 77354

2

• Woodlands Submarket Area • Future Residential Development Site • Dry Creek, (East side of FM 2978) Additional acreage available

4.

1

5.

1.184 Acres Loop 336 , Conroe, TX 77304 • Curb cut in place • No detention required.

• Optional Billboard.

6.

2.182 Acres 10463 HWY 242 , Conroe TX 77385 • PAD SITES AVAILABLE. • Located in growing Woodlands Submarket, +/- 2 miles east of I-45, on north side of SH 242.

7. 4.67 Acres 10527 SH 242 , Conroe TX 77385 • 4.67 ACRES – divisible; addtl. .5694 acres contiguous available.

• Woodlands Submarket, +/- 2 miles E of I -45, on N side of SH 242.

8.

2 Acres Westwood N Dr. 5702 FM 1488 , Magnolia TX 77354 • Located at signalized NWC of Westwood N Dr/ FM 1488.

• Less than 1 mile E of FM 2978/FM 1488, west of I-45/2-1/2 miles from Woodlands Parkway.

9. 84 Acres 33306 Old Hempstead Rd, Magnolia TX 77355 • Great Development Potential: Residential/ Business/Industrial Park.

• Central Location – Quick access to the Woodlands, I-45, and U.S. Highway 290.

10. 2.76 Acres 8933 Tamina Rd., Shenandoah, TX 77385 • Woodlands Submarket, just behind Home Depot, close to Woodforest Bank Stadium & Natatorium (11,000+ seats).

• Excellent visibility from Tamina Rd & David Memorial Dr.

67 Acres Grand Parkway (Seg G) @ Rayford Rd – Woodlands submarket Spring TX 77386 • 67 ac Development Tract, proposed HEB Grocery • SE Corner of Rayford Rd @ Proposed Grand Pkwy • Retail / Office / Medical Pad Sites Available with access to MUD utilities

11. 1.36 Acres – The Woodlands, I-45 Fwy FF The Woodlands, TX 77384 • Located near I-45 North Freeway & Hwy 242, The Woodlands • Adjacent to Kohl’s, Walmart, Garden Ridge, & Burlington Coat 12. 55 +/-Acres NW C FM 2920 @ FM 2978, Tomball / Woodland submarket Tomball TX 77375 • Mixed Use Development tract w/proposed access to City of Tomball utilities • Adjacent to Baker Hughes Corp major expansion of new Training Center • Anchor Retail development sites & 1-2 acre frontage pads for Sale or Lease.

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

281.367.2220 • jbeardcompany.com

Visit us at ICSC Te xas Con ference & Deal M aking D allas

Booth 6

04

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.

land development INTERVIEW

Houston’s ‘Path to Progress’ With over 25 years of experience in the sale, marketing, management and development of residential real estate, David Jarvis is known for his real-world experience as well as the extensive primary research he brings to the table. Utilizing Metrostudy’s data base and conducting extensive research targeted to the specific needs of home builders, developers, and lenders, David assists clients in the development and implementation of marketing and sales management strategies and model home development and merchandising. David’s core business is described as a membership model. It includes a proprietary and ongoing survey of the housing market that is updated on a daily basis. His model includes factors such as absorption rate, and the demands for homes and lots by size, by price range, and by geography. redNews spoke with David about Houston’s ‘path to progress’ in today’s market.

David sees most of the development continuing to move toward the western part of the city, roughly along a line from I-45 to downtown, to Highway 288. He sees development and his business moving solely in that direction because of available land, as well as access to highways, thoroughfares, retail and other amenities needed by today’s buyer. The Grand Parkway extending from I-10 to Highway 90, around I-45, and on to 59, is gernerating increasing amounts of land being opened for development. David says that an old joke about asking a developer where he buys land is still applicable today -‘at the end of the road’.

David has been in Houston since 1988 and has seen some of the vicissitudes of the Houston residential market. What he likes about today’s market is that homes are being started for the right reason and they’re being sold to people who can qualify for mortgages; therefore, today’s market has significant sustainability. Financing today’s residential developments presents more of a challenge as well. Banks are no longer in the construction lending and development lending business.

Developers have plenty of money to build houses; however, coming up with the money to develop land for the houses continues to be a challenge. Currently, the developer is only able to borrow 50 or 60 cents on the dollar to develop land, so getting a development launched is expensive.

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Banks got stung badly with losses in real estate during the last downturn, but have become more involved of late, but still cautious with the residential development industry. Home builders are beginning to come in and do their own developments. But we can’t move fast enough yet. Overall, we delivered 20,000 lots in the last 12 months, and we could use 26,000. We quit developing lots in the recession and we can’t ramp up fast enough to catch up. We are moving in the right direction, but it’s unlikely that we’ll catch up this year or the year after.

Given that estimates of population growth within a twenty-year span indicate that the Houston area will increase by about 50% (from 6 million to 9 million), there’s no way that this can be anything but positive for all areas of real estate. Today’s all time low interest rates are another significant factor in today’s positive market. Rates will go back up at some point. When that happens, the net cost of houses will increase, and people will simply buy houses with smaller square footages rather than drop out of the market. Prices won’t go up though. Regarding consumer demand for energy efficiency and ‘green’ houses, David sees an increasing interest in this type of home, but notes that today’s buyer isn’t interested enough in this type of dwelling to pay a lot more money for it. If oil and gas prices were to increase significantly, then that might be a game changer as to what people would pay for more energy efficient dwellings; however, given the current energy status in Texas, it appears more likely that Texas and eventually the United States will become a net exporter, rather than importer, of oil and gas, so it seems unlikely that energy costs will soar significantly.

!

N ! O N TI O A TI OC CA ! L LO ON TI CA LO

275,600 SF AVAILABLE Claymoore Business Industrial Park • 11711 Clay Road • Houston, TX 77043

Property Features •

Up to 275,600 SF Available (Divisible) » Office Area: 3,560 SF » Warehouse Area: 272,040 SF

•

Master-planned deed restricted park with expansion capabilities

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Four way access from the Beltway 8 to Clay Road provides superior accessibility

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Strong Institutional Owner

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Cross-dock building provides separate loading and parking

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24’ clear height

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Claymoore Business Park KEMPWOOD DRIVE

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For Leasing Information: Brian Gammill 713.270.3321 brian.gammill@transwestern.net

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land development INTERVIEW

“It’s the Best It’s Ever Been” Written by Janis Arnold

foreseeable future .

Stan Creech, President of Stan Creech Properties, is a Houston land broker who has been in the industry for forty years. Stan has been through the Texas markets ups and downs, and, in his words, ‘today’s market is just incredible, unbelievable.’ After five years of pent-up demand, Houston has become the strongest land market in the nation.

In today’s market, it’s a matter of supply and demand, and even with a possible plateau in the offing, Stan expects business in Texas to remain strong for the

Residential is off the charts; properties going on the market today are receiving multiple offers at above the asking price. Then the buyer goes to the bank and there aren’t appraisals. An appraiser told Stan that ‘our problem is we’re not looking down the road, we’re looking in the rear view mirror’.

There’s a difference in the comps that can be obtained from the different perspectives. Buyers and sellers need to remember that when a property sells, particularly a commercial property, the price likely was negotiated 6-12 months prior to the closing. Ignoring this fact alone can lead to the creation of unrealistic expectations for some land owners as prices have been rising so quickly of late.

It is often the case that a property will be closing for $1 a square foot as the property next door already posts an asking price of $1.50 per square foot.

The general perception has been that one thing Houston doesn’t lack is land for development. And now, for the first time in as long as Stan can remember, there’s not enough land in Houston. People from out of state come here and look at what is available, and at first glance, it seems as if there are lots of options. But then prospective buyers start looking at land that can be developed fairly quickly in terms of drainage, utilities, wetlands, detention, and multiple other factors specific to the developers goals and all of a sudden much of the available property is eliminated. Land development requirements are more complicated today due only in part to an everincreasing regulatory environment that oversees what landowners

14 redNEWS.com

can do with their land. For various reasons, many related to events that occurred in the most recent downturn, banks are leery of raw land. It takes longer to develop land in accordance with today’s regulatory requirements, and not many buyers have the time to go through that extensive process. The toughest loan to get is a land loan, because land isn’t liquid, and banks don’t want to foreclose on land. So while land that isn’t ‘shovel ready’ is selling, most developers want something they can close on quickly. They need to get their building done; in many cases these developers already have their tenants lined up. Not that land that isn’t ‘shovel ready’ isn’t still selling, but not nearly as easily and almost effortlessly as land that can be developed within a 90-120 day period.

In the state of Texas land developers have to consider water and transportation. “Take a look at the traffic in Houston and ask yourself: how on earth are we going to keep up in light of the increasing population?” Stan asks.

Infrastructure needs of the growing population are going to have to be addressed. Toll roads are certainly useful, but toll roads are only feasible for the primary routes. Stan can’t see secondary roads being built as toll roads. The ‘magic’ of Houston is that it remains the energy capital of the world. Stan isn’t just talking oil and gas. He’s thinking solar, wind, whatever works!

Ultimately, Stan, among others, is predicting that Houston will become the largest city in the United States at some point, because there are no geographical constraints to its continued growth.

Stan is amazed and gratified and feels incredibly lucky to be here.

This city is so diversified and has such a wonderful energy and momentum. Land prices peaked back in December 2007, and went down 50% due to the recession, but today they’ve come back about 150%. Land here is so good that people resist selling because they don’t have any other place to put their money that is nearly as lucrative. Stan has ‘never seen it this strong and real.’

This market is really different from the market seen back in the 1970s with the syndicators, or the 1980s with the savings and loan companies. Today, to get a land loan or even a construction loan, the buyer is going to have to infuse significant equity into the deal.

And it is more than ever true that today, banks are doing their due diligence before they grant loans.

land development INTERVIEW

30,000 Home Starts a Year in Houston?

Written by Janis Arnold

Kirk Laguarta and Duane Heckmann of the Land Advisors Organization, with nearly 30 years of experience each in CRE, specialize in master-planned community and residential lot development; however they also sell multi-family sites, commercial sites, and industrial development/sites. Historically, downturns in the Houston CRE market have been related to ‘loose money’; this was a factor in the downturn that occurred during late 2007 through 2009. Nationally, banks were so badly burned during that recession that they’re still not back into the lot development end of the real estate business to any appreciable extent. However, in Texas the banking industry is healthy and, particularly in Houston, there’s no problem with ‘loose money’. Thus, in respect to financing, there appears to be little danger of overbuilding at the present time.

Economically, Texas has recovered from the last recession much faster than the rest of the nation. The state’s vibrant oil and gas industry, primarily because of new developments in shale fracking, has led the city of Houston to create 100,000+ jobs per year. During the period from 2009 to the present, Houston’s tremendous increase in jobs has resulted in increased demand for housing. Bottom line: the development of new residential lots in the greater Houston area has not kept pace with the demand for new homes needed by Houston’s growing population.

Seven of Houston’s top ten master-planned communities will be fully developed and sold out within 3+/- years by the end of 2016.

Cinco Ranch and The Woodlands will be fully developed from a single-family home standpoint within the next two years. Today, those two communities account for nearly 2,000 home starts, which is around 7% of the home starts in Houston. It takes a minimum of 24 to 36 months from the time a developer or homebuilder starts looking at a piece of property until they get that first lot on the ground.

New master-planned communities generally start slowly, and may produce 100+/- homes the first year. Eventually, MPCs increase to 300 to possibly 400 home starts per annum. Cross Creek Ranch, a Johnson Development community, is an example of a replacement MPC for the tremendously successful Cinco Ranch. Wood Forest, another Johnson Development community, is taking over where The Woodlands lets off. Within the past 16 months, at least 24 properties that are greater than 350 acres have been purchased for development. Prior to July 2012 Houston had seen no large land purchases for single-family development going back to 2008. Thus, during a 4-year period, there were no significant residential land development purchases, yet the sale of homes in the Houston area continued at a pace of 18,000 to 20,000 homes per year.

Today’s oil business is much more technologically driven than was

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Duane Heckmann

Kirk Laguarta

the oil boom that occurred in the 80s. The industry’s highly educated and technologically advanced workers are commanding high paying jobs. Back in the 80s, job development included more roughneck or blue-collar jobs, whereas today’s oil and gas industry employs more white-collar positions. To a large extent, these new hires are working all over the world out of a Houston home office. To quote Kirk Laguarta, “If there’s a fracking job going on in North Dakota or Russia or Venezuela, you can bet that somebody in Houston has something to do with it.” The creation of high tech new jobs isn’t limited to the oil and gas industry; the same sort of thing is happening in Houston’s vibrant growth medical community.

Houston is now the energy capital of the world and will remain the energy capital of the world for the foreseeable future. The fracking revolution has changed the landscape in terms of the volume of oil and gas product available in the nation and the world. In the United States and Canada, enough gas to last several generations has been discovered, and, because of fracking production methods, this oil and gas is inexpensive to produce. This fact alone is predicted to significantly change manufacturing across the U.S. and will lead to the United States becoming a net exporter of oil and gas.

Houston’s newly employed workers and their families have to live somewhere and these individuals want to live in communities with good schools and quality amenities. Earlier this year, Metrostudy presented information regarding the demographics of Houston as it relates to the housing market. During the previous 30 years, the City of Houston averaged 25,000 home starts per year. However, the average number of home starts for the previous 25 years increased to approximately 30,000 per year. Projecting into the next 30 years, Metrostudy suggests that the city will have to produce at least 30,000 home starts per year to keep up with projected growth and demand.

Laguarta feels that 30,000 is too conservative a figure and projects that Houston will need a minimum of 32,000 starts per year simply to

keep up with anticipated demand. As a point of comparison, during 2012, Houston saw approximately 24,500 home starts. For 2013, the anticipated home starts are only 27,000. Assuming projections are accurate, it appears as if Houston is already behind in the number of starts needed by about 10-12,000 starts.

from a single-family development perspective. However, there is significant movement toward the north and west part of the Katy work center area.

Cane Island MPC, a new MPC being developed by Rise Development Partners’, is a proposed 1,000+-acre master-planned community in far eastern Waller County on the Waller County/Harris County line. Cane Island MPC is still in Katy ISD, being located inside the City of Katy on the west end. It will develop into a new community coming out of the ground in 2014 or 2015. Cane Island, which is planned to consist of up to 2,000 or more homes in the $250,000-and-up price range, is proposed to contain sites for a fire station, a Katy ISD elementary school, and six parks and recreation spaces.

Rose Commercial Park 30 SWC OF FM 2218/ BF TERRY BLVD & AIRPORT AVE 3200 BF Terry Blvd, Rosenberg, TX 77471

The amount of real estate needed to produce 32,000 home starts is approximately 12,000 acres of land. That amount of land will need to be developed on a yearly basis if the city is to keep up with the projected demand for housing. These numbers speak for themselves. The greater Houston area has a current population of around 6.2 million. Solely through organic growth, births over deaths, Houston’s population is going to increase in the coming years. By factoring in the organic growth that is projected to occur with Houston’s vibrant economy and growth in job development (80,000 to 100,000+ new relatively high-paying jobs every year), the Houston housing situation can be compared to what happens when gasoline is poured on a fire. In addition to finding and developing land, there are other potential factors related to residential communities that will need to be addressed.

Certainly transportation is crucial and becomes increasingly important as population increases; however, water is also a big issue and will need to be looked at in the coming years.

Houston essentially has about 14 major work centers. These work centers are projected to continue to expand, with some new work centers likely to pop up around the city. CBD, Greenway, Galleria, Westchase, The Energy Corridor, Greenspoint and NASA go back 20+ years. Recently added major work centers include Sugar Land, Katy, The Woodlands and Exxon Mobile.

One point in the region’s favor is that Houston has plenty of land and very few natural constraints. Under construction at the present time, the Grand Parkway, a 50-mile freeway to connect I-10 West to Hwy 59 on the northeast, will open up myriad possibilities.

The area south of I-10 in Katy ISD is pretty much built out or committed

Cane Island Parkway will be a new interchange at I-10 just west of FM 1463 and east of Pederson Road (the future Fulshear Parkway). Cane Island Parkway is going to be a four-lane boulevard that will span I-10 West and go north to Hwy 90. It will run through the middle of the West 10 Business Park, a Parkside Capital development, and will serve as a major north-south thoroughfare for the Cane Island MPC. Pending the City of Katy’s acquisition of a portion of the site that lies in Houston’s extraterritorial jurisdiction and final approval by city council, the master-planned community — the city of Katy’s first, if approved — will break ground by 2014 with lots available in late 2014 or early 2015.

Projecting into the next 30 years, we’re going to have to produce at least 30,000 home starts per year to keep up with projected growth and demand.

Rose Commercial Park 30 SWC OF FM 2218/ BF TERRY BLVD & AIRPORT AVE

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Located near Brazos Town Center & US 59

KEY FEATURES

DRIVING FACTORS

• Adjacent to B.F. Terry High School • At Lighted Intersection • Newly Widened Road • Utilities and Detention Provided • 17% Population Growth • On Retail Corridor to Richmond

Sweetgrass by Del Webb Brazos Town Center by NewQuest B.F. Terry High School George Jr. High School Town Center Walmart

KEY FEATURES

DRIVING FACTORS

• Adjacent to B.F. Terry High School • At Lighted Intersection • Newly Widened Road • Utilities and Detention Provided • 17% Population Growth • On Retail Corridor to Richmond

Sweetgrass by Del Webb Brazos Town Center by NewQuest B.F. Terry High School George Jr. High School Town Center Walmart

DEMOGRAPHICS Radius

1 Mile 3 Mile 5 Mile CONTACT Key Features 5,913 42,332 70,585 Population • Ample Employee and Patron Parking DEMOGRAPHICS Nelson Spitz Radius 134.10 Mile 3 Mile 5 Mile • An CONTACT Amenity Lake with Fountain 33.90 Average Age 33.10 5,913 42,332 70,585 Population (713) 690-2700 • Professional Landscaping to Provide a Nelson Spitz 34.10 33.90 Average Age 33.10 DRIVING FACTORS HH Income $54,511 $45,260 $49,738 (713) 690-2700 Pleasant Atmosphere for Patrons as well as HH Income $54,511 $45,260 $49,738 nelson@kmrealty.net Sweetgrass

by Del Webb nelson@kmrealty.net Drive By Community Home Value $112,379 $100,166 $114,588 Home Value $112,379 $100,166 Brazos Town Center by$114,588 NewQuest

Key Features • One block from U.S. 59 • Adjacent to B.F. Terry High School • At Lighted Intersection • Newly Widened Road KEY FEATURES • Utilities and Detention Provided • Adjacent to B.F. Terry High School • 17% Population Growth • At • Lighted On Retail Intersection Corridor to Richmond

• Newly Widened Road • Utilities and Detention Provided • 17% Population Growth • On Retail Corridor to Richmond

KM Realty Advisors, LLC High B.F. Terry KM Realty Management, LLC George Jr. High

School School Town Center Walmart

KM Realty Advisors, LLC KM Realty Management, LLC

DEMOGRAPHICS Radius

Population

1 Mile 5,913

3 Mile 42,332

5 Mile 70,585

CONTACT Nelson Spitz

www.kmrealty.net (713) 690-2700

CONTACT Nelsonwww.kmrealty.net Spitz • (713) 690-1093

nelson@kmrealty.net • www.kmrealty.net (713) 690-2700

land development INTERVIEW

Development of

MPCs in North Texas

Written by Janis Arnold Landry Burdine, who has been involved in land brokerage for the better part of 15 years, is a Dallas broker with Land Advisors Organization. Landry is the director for the Dallas-Fort Worth area. His office specializes in masterplanned communities and everything that goes with that type of land brokerage and related development. He focuses on home builders and private equity and the myriad aspects that it takes to put a planned community development together.

One of the community developments that Burdine has been involved with includes Trinity Falls in McKinney, a 4,200 lot project that went into distress during the recent downturn, and is now being developed by Castle Hill out of Austin. Castle Hill has expertise in mixed use and master-planned communities as well as just about ‘every asset class out there’.

Another of the master planned communities that went into distress was Phillips Creek Ranch in Frisco, which was bought by Republic Property Group early in the downturn and is now well underway.

The Terra Verde Group, another group that Burdine represents, bought Windsong Ranch in Prosper. There are about 3,500 lots in that community. There are three major master plans in the northern Collin County market that have come online recently. They were getting ready to start when the downturn hit, rode through the downturn, and are just now coming out of the ground.

Most of the recent larger deals were purchased by private equity that is based out of the northeast. They use local operator partners in Dallas-Ft. Worth to execute the development; at least they are trying to. In some cases banks are making it a little more attractive and are coming into play for development. Obviously, bank money is cheaper than the private equity money. But it is the case that a lot of these master-planned communities are being developed for cash. In today’s market, it appears as if local banks can’t move quickly enough. Dallas area land is moving very well if it’s in the right location. In northern Tarrant, Denton, and Collin County, prices are exceeding peak pricing already. Approximately 75% of today’s starts are located in those areas.

Burdine’s company handles the initial land transactions for their clients, and may or may not stay involved throughout the entire development process. Sometimes Burdine will take the lot package out to the builders, and handle the marketing efforts. Often Land Advisors Organization will handle resale of some of the tracts in the deal as well.

These are very large planned community developments. Windsong Ranch, located on Highway 380, is a couple thousand acres and has significant commercial potential. Trinity Falls has 1,700

18 redNEWS.com

acres. Communities that are located near major intersections are seeing commercial activity that is really, really hot.

Related to infrastructure to meet the needs of increasing population, the city of Dallas is coming up with some creative ways to finance needed infrastructure. Toll roads are having a significant impact upon transportation and developers are becoming increasingly adept at figuring out ways to get water and sewer services to their sites. Development agreements, and reimbursement agreements with cities of facility districts are illustrative of the ways in which infrastructure needs are being addressed. The availability of water to meet increasing demands as communities grow and develop is a concern, bu current projections are that suppy will be adequate to meet demands.

Even though business is booming, the Dallas area will continue the present trajectory as it moves toward a normalized start space.

During the peak years (2005/06), there were 52,000 starts. Right now the number of starts is in the low 20s and a normal start space would be somewhere in the low 30s, so business should continue to grow for the foreseeable future.

When asked the question regarding what advice Burdine has for newcomers to the commercial real estate market, his response was: “A lot of research is needed because land brokers have to learn the market.

It’s crucial that brokers know the market in order to provide the best possible service to their clients. Going out there trying to see and sell properties that the broker knows little or nothing about probably isn’t going to work all that well, especially with the private equity buyers.

These guys are much more sophisticated today. The underwriting for today’s deals is more stringent and significantly more complicated than it was in the past. It’s not hard, but brokers need to learn as much as possible about the properties they hope to represent to prospective buyers.”

Most of the recent larger deals were purchased by private equity that is based out of the northeast.

They use local operator partners in Dallas-Ft. Worth to execute the development; at least they are trying to. In some cases banks are making it a little more attractive and are coming into play for development.

Obviously, bank money is cheaper than the private equity money. But it is the case that a lot of these master- planned communities are being developed for cash. In today’s market, it appears as if local banks can’t move quickly enough.

44.58 ACRES OFFICE / CORPORATE CAMPUS SITE

• Colonial Parkway (Park Row), east of Grand Parkway (SH 99) • 44.58 Acres of Land (1,941,905 SF) - WILL SUBDIVIDE • 2,996.55’ on Colonial Parkway • $15,535,240 ($8.00 PSF) • Katy ISD • Utilities - Harris County MUD 62 and 61 • Grand Parkway will be completed to IH-45/Exxon Campus by 2015. The section to US 290 will be open in 2013 • Restricted to office, single family and office warehouse FOR MORE INFORMATION: Carlos P. Bujosa 713.272.1289 carlos.bujosa@transwestern.net

Baytown Spanish SDA - 704 + 750 E Texas Ave - 4,200 SF....................................................$150,000 Majestic Christian Center - 3512 McLean Rd - 19,500 SF..................................................$1,500,000 Dome Church - South Acres at Scott Street - 57,000 SF.......................SALE PENDING........$3,740,000 3.9 Acres - 7225 Bellfort Avenue........................................................................REDUCED.........$199,000 Channelview Area Church - 1100 Dell Dale...................................................... REDUCED .....$1,995,000 League City UMC - 1411 West Main Street - 34,000 SF......................................................$3,950,000 Land in Tomball, TX - Holderrieth & S. Cherry - 2.03 Acres...................................................$230,000 Miracle Christian Fellowship - 16310 Chimney Rock - 15,000 SF..........SALE PENDING.........$855,000 Multipurpose Bldg - 710 College St. - 7,200 SF.....................................................................$650,000

I NTERSTATE 45

- I-45 F RONTAGE - H OUSTON M ETRO N ORTH - D EVELOPMENT - T RANSITION - A DJOINS S AM H OUSTON N AT ’ L F OREST - $4,750/A CRE

H UNTSVILLE 74

Land on Ella Blvd - 4.538 Acre ................................... SOLD......................................................$325,000

~ 5,442 A CRES ~ 13

Alief Church of Christ - 7130 Cook Road - 7,700 SF.......................SALE PENDING..................$735,000

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

FM

LAND / CHURCHES FOR SALE

A. David Schwarz III, SIOR 713.270.3371 david.schwarz@transwestern.net

S TATE PARK

N ATIONAL F OREST

5,442 A CRES

FM

Baytown Campus/Training Center Facility (Income producing property) - 301 Ilfrey..................$3,400,000 SE Area Church - 10050 Fuqua - 9,995 SF .................................SALE PENDING.....................$1,100,000 Pasadena Church - 4444 Vista Rd. - 46,000 SF...................................................................$1,200,000

I-45

N ATIONAL F OREST

Religious Facility in South Houston - Beaumont St. @ Illinois - 11,800 SF.. .......................$799,000

Trinity Fellowship Church - 9321 Edgebrook St. - 67,000 SF......... SALE PENDING ...........$1,300,000

N ATIONAL F OREST

L AKE C ONROE

13

74

N EW W AVERLY

H OUSTON

Aldine Christian Church - 2233 Aldine Mail Rte. - 10,500 SF ......... SALE PENDING ............ $499,000

International Church Realty (713) 541-4005

A NDY F LACK , B ROKER ANDY @ HOMELANDPROP . COM 936-295-2500 WWW . HOMELANDPROPERTIES . COM redNEWS.com 19

land development INTERVIEW

Path of Progress in North Texas Continues Northward Written by Janis Arnold Charlie Adams, a Dallas land broker with The Stratford Group, has been brokering land in the North Dallas areas since 1977.

Brokering land related to master-planned communities constitutes the mainstay of what he’s done for the past 20 years with Republic Property Group in Dallas, one of his largest clients. Frequently, Charlie remains involved throughout the development process, eventually selling land or residential loans to home builders. Throughout the course of his career, Charlie has seen several cycles, the worst of which was the mid to late ‘80s. That downturn caused the greatest devastation; however, this last downturn was also severe. The main difference between the two business cycles is that during the most recent downturn, CRE business essentially stopped, but the Dallas market didn’t see all that many foreclosures. A significant aspect of the difference in this downturn versus the one back in the ‘80s is that banks took the attitude of ‘extend and pretend’ in the recent recession which somewhat protected the taxpayer, but wasn’t good for those individuals who were in the CRE market. Essentially no transactions occurred; however, in the recent downturn, it is apparent that overall values were maintained.

The majority of growth in the Dallas area has been due north of Preston Road for the past 80 years. This growth pattern will continue for as long as the toll roads keep extending. Shopping and other amenities to support that forward movement continue to be appealing to today’s buyer and developer. Dallas has created some MUDs, but not to the extent seen in Houston, because in Dallas more land has been incorporated into the cities. Citizens in Dallas don’t want to create extra labor tax, so MUD Districts are rare as land has been annexed by the city.

There are, of course, some significant exceptions. The Bright family has developed Castle Hills, a development that Charlie represents. That project created a fresh water supply district and a public improvement district which was successful. This was possible because the land was in the extraterritorial jurisdiction of a couple of cities and hadn’t been annexed yet. But there is no doubt that MUDs are harder to develop in Dallas than they are in Houston.

Dallas area planned communities are generally smaller in scope and typically require less build-out time than the larger master plans seen in the Houston area. The typical deal in Dallas is finished in closer to 5 years rather than the 10 to 30 year time frame that it takes for the larger MPCs in the Houston area. Charlie notes that it’s really critical for the larger master plans to have districts, and in the Dallas area they have been successful going forward when the districts are in place, but in the case where there’s no district in place, the developers still are very aware that they have to have a plan to get in and out before the next downturn.

20 redNEWS.com

Charlie, like many of the CRE professionals redNEWS spoke with for this month’s issue, agrees with the statement that land prices have gone up so dramatically that it is likely the market will see a plateau in the near future, particularly when it comes to the prices of residential lots. Single family lots are at twice the price they were during the last peak, which is unheard of.

When asked what advice he had for youngsters wanting to enter the CRE market; Charlie said,“Find a firm where someone will mentor you on a daily basis. That’s number one. The second piece of advice is that the new CRE professional should focus on an area and avoid getting distracted by activity that’s extraneous to that area. He/she needs to become the most knowledgeable person on the planet for his or her particular area of expertise in that one area, whether it’s land or income property, retail, office, whatever. There are lots of people who are only pretty good at a lot of things. New people need to strive to be the best at one thing!” Regarding the person interested in getting into development, Charlie’s advice is: “Find the right partner and have very little debt, and buy land in the best locations possible at a price that works. It’s pretty simple, really.”

One key fact that many relatively new land brokers have to be aware of: Land development is more competitive today because home builders have become competitors of developers. So the person who wants to develop in today’s market has to be much more knowledgeable, knowing that the competition is out there.

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713-78

Comparable Sales Map

Central Texas

Comparable Sales Map

Southeast Texas

Texas Land Development Transactions Compiled by

Comparable Sales Map

North Texas

land development INTERVIEW

Patience Pays Off Written by Janis Arnold Jake Wagner is Co-President of the Dallas-based Republic Property Group, a master-planned development companywhich was founded by Rick Strauss in 1967. Wagner has been with the company approximately 8 years and oversees 3 long-term projects that have been in production since the late 1990s. Wagner feels very fortunate that, going into the late 2008, 2009 years, his company was in a great position with the projects that they had underway or on the drawing board. This certainly made recovery from the downturn an easier proposition. His group is also fortunate in that they have excellent business partners.

Wagner sees this as crucial to the company’s long-term success as the CRE market tends to cycle approximately every 7 years or so. Essentially all master-planned community development occurs within time frames that are measured in a minimum of 10-14 year periods.

Republic Property Group’s relationships with other professionals in the industry is essential to the company’s ongoing vitality and continued growth.

Lantana Project, which started in 1999, delivered its first phase of lots in mid 2001, right before September 11. The company successfully weathered the aftermath of that event, with the result being that today, Lantana (1,700 acres) is three quarters built out, and has weathered the 2008-09 recessionary period. Wagner notes that his master-planned development company wouldn’t have been able to make it through these business and economic cycles without very patient strong partners, including equally committed equity partners and lenders.

Two projects that came after Lantana were Light Farms (900 acres) and Phillips Creek Ranch (950 acres). Wagner says, “Since we were in such a strong position with regard to Lantana during the downturns, we have been able to capitalize on distress opportunities rather than spend our time working through current problems, as unfortunately many others had to do. We purchased Light Farms real estate in early 2007, and then we purchased Phillips Creek in 2008. Last year we were able to begin development on both of those projects. During that same time period we evolved into a company developing one project, Lantana, into one of the largest residential developers operating in today’s business community.”

Wagner believes that master-planned communities provide enhanced value in the form of high quality amenities and the strict architectural and community guidelines that are in place in regard to the houses built within these communities. He sees this as significantly contrasting to houses that are built by one or more groups of builders working within subdivisions. Although many of the subdivisions built today have many nice amenities, the controls in masterplanned communities are not in place regarding the types of homes that can be built within the development. This fact becomes even more significant during a financial downturn. At that point, a buyer looking toward a new home purchase is more likely to be impressed by the value control built into today’s master-planned communities.

24 redNEWS.com

Architecture and design are constantly evolving and changing. As a general rule, homes built today are significantly more energy efficient that homes built even five or ten years ago. While today’s buyers love the idea of energy efficiency, given the choice, home buyers are going to pick the granite countertops over the tankless water heater nine times out of ten. Of course builders are much better at explaining the long-term value in the form of home operating costs that come with the ‘green’ extras. And, actually, many of the features that ten years ago were considered ‘extras’, are standard for the builders’ homes in Republic Property Group’s planned communities.

In terms of capital available for development today, there is more equity at the present time and lenders are once again interested in getting involved with residential developments. In Wagner’s company’s case, Republic Property Group has never been a group that shops different lenders and compares rates and tries to leverage something up as much as possible. They have a history of being much more conservative, primarily because of the long-term nature of their projects.

Wagner notes, “We’ve got really great equity partners and some really strong loyal lenders that we work with on an ongoing basis. During the downturn, our lenders worked through issues with us.”

Although Wagner is very happy with the three large projects his company is involved in, he is interested in ‘growing the company’, and so is always looking for opportunities and new potential projects. This means that they are looking for very large pieces of land based upon where the land is located and when they find a tract, they analyze the site’s readiness for development. In today’s market, builders are buying land to develop, and with more companies wanting to get into the business, this increase in competition is driving land prices up.

Recently, several large tracts sold for significantly higher prices, causing regional large tract landowners to increase their asking prices to equally high top dollars. Some tracts can support the higher land prices, but others likely cannot, so feasibility has to be evaluated very carefully. All developers are aware of the fact that interest rates are going to increase at some point in the near future. When that happens, the ability of buyers to qualify for loans is going to be impacted. Wagner sees the increased competition and the interest rate fluctuations as already impacting the land market. Some of the frenzy to sell land at ever increasing price points is beginning to diminish in some areas.

In today’s market, builders are out there buying up land to develop, and there are more companies wanting to get into the business, and this increase in competition is driving land prices up.

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M i t c h Z a r s k y | 7 1 3 . 8 2 5 . 0 7 2 8 | m i t c h z a r s k y @ y a h o o . c o m | BROKERS PROTECTED redNEWS.com 25

ray’s

HOUSTONCOMMERCIALBUZZ

R ay H anka m e r Hankamer & Assoc, Broker, Houston Contributing Writer

redNEWS Business Round-Up - Hotels

Over Thirty-Five Years in the Business-Ray Hankamer / SW Inns, Ltd./Southwest Hotel Management

capital stack the same? Are the funds coming from the same general sources, and in the same percentages-equity and debt?

rN: Tell us about the projects you have developed.

Hankamer: When we started, the ONLY source of mortgage money was life insurance companies. They stayed on top of supply and demand in the markets where they were active lenders, and kept it in balance as best they could. When local banks jumped in and started making commercial mortgages, willy-nilly construction could explode in the same market, leading to overbuilding, since no one knew what anyone else was doing.

Hankamer: Beginning in 1966, we developed 14 full-service hotels, six limited service hotels, five suburban office buildings, and one apartment project. The hotel brands were Holiday Inns, Hampton Inns, Best Western, Ibis, Ramada, and others. The full-service hotels had banquet facilities, discos, restaurants, coffee shops, and of course hotel rooms. All were in Texas, and most in the Houston area2,440 rooms in all. All were franchised, and built and operated according to the specifications of the licensor. After a while we began operating hotels for others under management contract. rN: How have architecture, design, and construction evolved since you first started developing in this segment?

Hankamer: The original franchise concept was to sell a “kit” to a novice who knew nothing at all about building or operating a hotel.

This was in conjunction with the Interstate Highway System spanning the US and bypassing all existing tourist court/motel strips on the old national highways. The original Holiday Inn prototype was concrete slab and concrete block construction-all masonry. This made the hotels largely fireproof and soundproof. Exterior corridor hotels were the fashion of the day.

Over the years, however, many developers’ equity was swept away with the turn to interior corridor construction for security reasons.

This rendered the former design obsolete and the franchisors, to please their travelers, refused to renew expired licenses on the older design.

Now hotels are smaller on average, since most elect not to include the once-required food and beverage service, and they are built with “sticks and bricks,” cheaper and faster (but less durable) than allmasonry. rN: How has financing your developments evolved, i.e.is the

26 redNEWS.com

Our financing was simple: equity + a mortgage. Equity came from partners and / or ourselves. The use of second mortgages was rare.

The mini-perm did not exist, nor did CMBA (commercial mortgage backed securities). The goal “in the old days” was to get a 20 year mortgage, work hard for its term and pay it off, and then enjoy the cash flow from a “free and clear” hotel. How things have changed!

We were able to secure loans ranging from 60-80% of cost going in, depending on personal guarantees or not, and their strength. Today that % may be 50-75%, although as the economy strengthens and lenders become more competitive, they are willing to lend a little more to get the deal.

Today, most franchisors just give ten year licenses and most lenders have ten year balloons-or shorter.

So if there is still substantial debt at the end of ten years, and you have a brand affiliation or an architectural type or location which has gone out of favor, you have a problem. Stepping down to a lesser brand can erode huge chunks of value with the signing of the new license. rN: How does the availability of good sites compare to “the early days,” and does the cost of dirt still amount to about the same percentage cost of projects now, as then?

Hankamer: As the Interstate Highway System went in, at first it was ridiculously easy to get perfect sites for very little money. Look today at all the old hotels along the Interstate. They are in the best locations.

I remember a meeting in a New Mexico farmhouse where a big cloverleaf of I-10 was going to be located on his farm. We wanted a four acre site right at the exit ramp for a Holiday Inn. The farmer gritted his teeth and said, “you are not going to like the price I will require: not a sale but a lease.” He hesitated and then spoke his price: $900 per month. It was all we could do to maintain a neutral look on our faces and then ‘begrudgingly’ accept his terms. (No escalation and this was in 1967). But the farmer was thinking of what amount of mailbox money could make his life seriously easier, and we agreed to pay it.

Today, in the urban areas, it is very difficult to get a site. On the other hand, it is not so important to have a site that the traveler can see and see how to get to, all while traveling at 70 mph, which was our criterion in the beginning. Today most people have an advance reservation, and we figure if they can see you on MapQuest they can get there.

Sites often take up a much larger percentage of the development budget. The limit one can allocate to a site and still make the numbers work is around 20%, and 10% is ideal. Like all rules of thumb, though, variables may affect even these percentages. rN: Is your management team growing, or do you outsource more now than before?

Hankamer: We sold our last two Hampton Inns in 2006. Now we focus on the brokerage side of the hotel industry; putting buyers and sellers of hotels and hotel sites together, and consulting. My staff has declined from about 1,000 to one full-time and four part-time. rN: What project do you have fondest memories of?

Hankamer: We opened the Holiday Inn of Houston-NASA opposite the

Manned Spacecraft Center in 1966, and I was general manager (“Innkeeper”, in Holiday Inn-speak at the time). Although the race to the moon was going full bore, the market was very competitive and we had to promote each department hard to get our fair share of the business.

We were on first name terms with many of the original astronauts, and their families used our large hotel swimming pool in the summer on a complimentary basis. The world press filled us up with every launch, and we knew all of them well after a time. The Blue Angels and The Thunder birds, crack aerobatic teams, stayed with us on alternating years during their Ellington Air Show, and they filled our bar with local cuties. We threw luaus open to the public and gave our club over on some weekends to the local melodrama club. I let a local radio station broadcast their morning show from our hotel lobby. I learned that “show business” and promoting ‘sells’ in the hotel / real estate world. After a time we were forced to expand our hotel by 50% more rooms, as some of our competitors weakened. rN: What advice do you have for young professionals just entering your segment of Commercial Real Estate?

Hankamer: Start off with a smaller, hands-on developer instead of one of the big chains. Get your hands dirty. Work long hours doing all the jobs in the hotel, so you can manage others later with credibility in those same jobs. The exciting thing about being with a smaller developer is that you can learn all the facets of the profession: real estate, finance, architecture, facilities management, accounting, marketing, human resources and training, legal, interior design, franchisor relations, landscape design and maintenance, and how to manufacture and deliver a delightful hospitality product to your guest.

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Gross Rates Starting at $23.50/SF Building Features

• 2,762 SF Available • Recently renovated suite ready for move-in • 24-hour secure building access • Fronts the METRO rail line • Central Downtown location • Easy access to I-45, I-10 & US-59

Suite 200 2,762 SF

Brian Hines 713-580-3957 Brian.Hines@BoxerProperty.com

Gross Rates Starting at $17/SF Building Features

• Suites range from 430-7,548 SF • Recently renovated suite ready for move-in • 24-hour secure building access • Fronts the METRO rail line • Central Downtown location • Easy access to I-45, I-10 & US-59

Trey Miller 832-524-5579 Trey.Miller@BoxerProperty.com

redNEWS.com 27

2013 Master Planned Communities - Houston Region 830

1725

45

reek ss C pre Cy

Cypress

Cypress Creek

6

529

O a k Bayou

Wh it e

8

529

Wh it e

Katy

90

1454

iv e r

R

er C

reek

Ch oc 655 ol a

35

Feet

Environmental studies ongoing (B, H, I1) Completed Feasibility Study (A)

Br a z

os

288 BS 288

Ri ve

3436

646

o n B ayou

528

La Marque

2004

6

Santa Fe

146

617

k ins

646

2094

1765

518

1765

270

La Marque

2004

League Santa FeCity6 3436

45

Dic

35

k ins

45

Galveston

Galveston

146

617

West Bay

o n B ayou

646

3 3006

1764 2004

Angleton

1764

646

2004

BS 288

3

1266

96

2403

2917

Alvin

288

Angleton

6

Gulf of Mexico 2004

West Bay

521

2403

523

35

45

Galveston

521

655

Date: April 29, 2013 36

Date: April 29, 2013

2917

West Bay

35

Eagle Nest Lake

Gulf of Mexico

La Marque

Santa Fe SH 99: The Grand ParkwaySH 99: The Grand Parkway Segment Status Map

36

523

3006

1765

The above information has been compiled from various sources.

Please Segment Status Map tell us what we’ve missed so we can continue to update this map for you Contracted, open to traffic in 2013 (D/E) Approved environmental document (C and I2B) readers. Thank you to Bernard Kaplan and the rest our with Kaplan PR Environmental studies ongoing (B, H, I1) Services for his assistance with the Johnson Development Corp projects.

Completed Feasibility Study (A) Complete, open to traffic (D and I2A) Contracted, open1462 to traffic in 2015 (F1, F2, G)

35

Trin ity Ri Trin v ity e

Trin ity Ri ve

o Riv

er

3

2917

Harris Reservoir

Eagle Nest Lake

iv e r

Feet Bend Brazos

FO RT BE N BR D AZ C O O U RI N A TY CO UN TY

36

Approved environmental document (C and I2B)

28 redNEWS.com

Harris 10 Reservoir 52800

LegendPark State

Complete, open to traffic (D and I2A) Contracted, open to traffic in 2015 (F1, F2, G) Contracted, open to traffic in 2013 (D/E)

442

26400

Dic

96

TY UN Y CO NT U N TO CO ES IA LV OR GA RAZ B

Legend 1236

Eagle Nest Lake

R

0

2351

reek

0

52800

er C

10

26400

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Miles 5

1994

er

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o Riv

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36

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646

518

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reek

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521

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617

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528

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96 3436

reek rC

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1266

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762

442

518

521

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2354

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2094

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35

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you Ba te

442

k

2977

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1236

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k

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2759

146

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2351

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Brazos Bend

59

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Galveston ClearBay Lake 146 45

2094

35

1994

Beach City

Baytown

Pearland

288

Arcola

ree

iv er Needville

1994

Rosenburg Needville

ste Oy

Br az os R

360

90A

rC

360

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La Porte

Pasadena

3

1128

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36

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la FORToBEND COUNTY

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45

528

2234

36

ar

2351

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2354

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Clear Lake

BRAZORIA COUNTY

COUNTY

Thompsons

Imperial Sugar Land Johnson Development 750 Acres Arcola 2977

8

HA RR IS COUNTY

762

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565

8

FORT BEND Pearland610

288

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3

2234

90A

10

1942

10

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288

2759

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59

Richmond

36

ar

565

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2354

225

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k

2977

146

610

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Smithers Lake 90A

359

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ree

762

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2759

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59

8

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Rosenburg

Willow Creek Farms Brookshire Johnson Development 202 Acres

59

8

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2234

1942

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2100

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10

610

45

59

359

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45

288

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6

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146

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8

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90A

2100

ayou dB an

723

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Houston

610

1093

59

36

565

225

Bellaire

8

90A

Buff a ou lo B ay

359

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1942

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610 8

225

90

10

610 8

Sugarland

1093

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10

610

1093

288

1093

6

723

610

59

Bellaire

9010

59 Houston

610

45

1454

723

10

59

90

Cross CreekBarker Ranch Reservoir Fulshear Johnson Development 3200 Acres

1463

90

10

Addicks Reservoir

Katy 10

146

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90

290 Barker Houston Buff a ou lo B ay Reservoir 610

1463

90

Addicks Reservoir

1093

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610

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10

90

90

146

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59

290

610

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Katy

2100

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iv e r

529

B ayou

10

Addicks Reservoir

Cane Island Katy Rise Development 1000 Acres

90

O a k Bayou

45

59

249

290

6

1406

Houston

Lake

Houston

8

529

90

Lake

NTY COU RIS HAR

NTY COU RIS NTY HAR COU LER WAL

529

Wh it e

B ayou

146

Greens Bayou

45

249

Bayou Greens 6

1960

529

8

146

1406

NTY COU RIS HAR

249

290 6

Humble

Greens Bayou

8

45

ar

90

ar

Houston

8

1960

8

90 1960

1406

NTY COU RIS HAR

NTY COU RIS NTY HAR COU LER WAL

NTY COU RIS NTY HAR COU LER WAL

Cypress Creek

Greens Bayou

290

6

249

1960

Cypress

Dayton

1960

B ayou

Humble

90 1960

1960

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6

ar

146

90

59

1960

1960

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Fairfield 290

1960

Humble

Dayton

686

1960

d Ce

Cypress Creek

1960

686

Dayton

59

1960

249

2100

d Ce

6

Fairfield 249

2100

TBD – 2014 Launch Kingwood Tomball Toll Brothers/Cernus Development 692 Acres Lake d Ce

Klein Springwoods Village Spring CDC 1800 Acres 1960

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290

59

1960

686

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494

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2920

6

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2920

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2100

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2920

nt

M

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494

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249

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2920

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ac

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Sp r in

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494

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r

1485

1485

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2978

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1008

1008

242

242

1314

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r

r

1008

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45

1485

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2978

Stagecoach

ng Spri

1314

45

The Woodlands

149

1488

242

242

242

45 149

1010

Splendora

Valley Ranch (re-start) Porter The Signorelli Company 1500 Acres

242

Cl e

WALLER COUNTY

WALLER COUNTY

WALLER COUNTY

242

1774

1010 59

2090

Splendora

Harmony Montgomery County Johnson Development 1000 Acres

242

59

2090 1010

Splendora

1488

105

321 reek

1488 1488

The Woodlands

1488

59

105

105

C ch

e C r ee k

Magnolia

1488

3083

reek

L ak

1488

2978 1488

1314

2090

163

321 Pe a

C ch

1314

1314

1488

149

1774

3083

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45

163

787

Cleveland

321

Pe a

Conroe

3083

336

reek

e C r ee k

45

336

C ch

e C r ee k

1488

1774

1488

MONTGOMERY COUNTY

Magnolia Magnolia

L ak

Conroe 45

336

Woodforest Montgomery Johnson Development 3000 Acres

L ak

1488

1435

Cut and Shoot

336

i nt

149

GRIMES COUNTY

MONTGOMERY COUNTY

MONTGOMERY COUNTY

GRIMES COUNTY

GRIMES COUNTY

149

1435

Cut and Shoot 2854 Conroe

336

GO Y NT NT MO COU

105

East For kS an Jac

2854

1435

105

336

i nt

149

CO

Y NJ SA MER GO Y NT NT MO COU

and Shoot TBD –CutCamp Strake Property Conroe Johnson Development 2175 Acres

er

105 2854

o Riv

105

105 INTO LIBERNTY U AC

East For kS an Jac

105

TY UN Y T CO

1484

75

R

105

Lake Conroe

1484

105 75

2025

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Lake Conroe

105

1725

2025

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830

1484

75

East For kS an Jac

Lake 830 Conroe

Harris Reservoir

2004

288

3006

Gulf of Mexico

2013 Master Planned Communities - Dallas/Fort Worth Region Trinity Falls McKinney Castle Hills Partners (purchased) 1700 Acres

Light Farms Celina Republic Property Group 908 Acres

Harvest (formerly Belmont) Northlake-Argyle Hillwood/Realty Capital 1100 Acres

Lantana Argyle Republic Property Grou 1700 Acres Fairway Ranch Roanoke Wilbow Corporation 447 Acres

Windsong Ranch Prosper Terra Verde 2000 Acres

Light Farms Celina Republic Property Group 908 Acres

Phillips Creek Ranch Frisco Republic Property Group 950 Acres

Parker Lakeside Parker Huffines Communities 600 Acres

Canyon Falls Flower Mound - Northlake Wheelock Street Capital 1200 Acres

Dallas fort worth

Chisholm Trail Ranch Southwest Fort Worth Legacy Capital Company 600 Acres

The above information has been compiled from various sources. Please tell us what weâ&#x20AC;&#x2122;ve missed so we can continue to update this map for you and the rest of our readers. Thank you to David Brown with Metrostudy â&#x20AC;&#x201C; Dallas for his assistance.

redNEWS.com 29

2013 Master Planned Communities - Austin/San Antonio Region Although the development of Master Planned Communities is not as active in Central Texas as it is in the Dallas/Ft Worth/Houston region, the concept of MPCs continues to grow in strategic locations throughout the state based on transportation and proximity to major cities.

Rancho Siena (500 acres) was purchased is June 2013 by Newland Real Estate Group in a JV with Japanese homebuilder, North America Sekisui House.

Located at SEC Highway 29 & Ronald Reagan Blvd in NW Leander, the development will include 1455 residential lots & 167 acres of recreational amenities, parks & open spaces.

Sweetwater, et al (1000 acres) Highway 71 & Lakeway. Wheelock Street Capital bought out of foreclosure. Developer plans to have 1600 residential lots with next section delivered by year end.

Johnson Ranch (767 acres), developed by DH Investment Company is near Bulverde, Texas on US 281 & FM1863. It was approved in 2008 and placed on hold in 2009. DH Investment Co restarted the development in 2012 and also sold 287 acres to Lennar for home development. Currently 1100 lots have been sold and 630 homes built.

Travisso (2100 acres) purchased jointly by Taylor Morrison & Toll Brothers from the developer of Crystal Falls, The Lookout Group. Originally known as Crystal Falls West, the new owners have changed the name to Travisso and will begin selling homes Spring 2014

san marcos

new braunfels

Veremendi (2600 acres) is the largest development in New Braunfels’ history. Seven years ago, Australian developer, ASA Properties came to Texas looking for a place to “build a new town” and purchased the Word-Borcher Ranch. 5500 homes are planned as well as retail, multi-family, medical, educational, etc.

The Crossvine (500 acres) broke ground in July 2013. It is a JV between the developer and the City of Schertz. The first phase of The Crossvine will include 121 single-family homes. David Weekley Homes and Ryland Homes are projected to begin building houses in the neighborhood in the first quarter of 2014.

san antonio The above information has been compiled from various sources. Please tell us what we’ve missed so we can continue to update this map for you and the rest of our readers. Thank you to Madison Inselmann with Metrostudy – Austin and Craig Hall – Craig Real Estate for their assistance.

30 redNEWS.com

Would this Wouldyou youlike liketotoreserve reserve this page or page to tomarket marketyour yourproperties listings for company 6, 9 or 12 months?

3, 6, 9 orfor 12 3, months?

Is your website in desperate need of an upgrade?

Do you need a package of eblasts to market a new listing?

Would a banner on our newsletter help you market a service you provide?

Think of redNEWS as your personal marketing department and contact us today.

Karisa@redNEWS.com or 713-661-6300

redNEWS.com 31

whatâ&#x20AC;&#x2122;s happening in CRE Texas

The following pages contain a calendar of Texas CRE events, networking photos and deals/announcments.

For more of the above, log on to redNEWS.com. We update CRE news and events every day!

Events Calendar Networking Deals& Anouncements

Sponsored By:

redNEWS.com 33

events

C ALEN D AR

Southeast Texas October 1 – Tuesday Houston BOMA Special Events Committee Meeting 3:30p – 4:30p www.houstonboma.org October 1 – Tuesday IREM Houston Celebrating Women in the Workplace Luncheon – Kelli Gilpin 11:30a – 1:00p www.iremhouston.org

( H o u sto n A re a )

October 8 – Tuesday Greater Houston Partnership Luncheon – The Hon. Mr. Gustavo Arnavat 11:30a – 1:00pm www.houston.org

October 14 – Monday IREM - Houston IREM Public Policy Committee Meeting 11:30a – 1:00p www.iremhouston.org

October 9 – Wednesday SIOR Houston Business Meeting 11:30am – 1:00p www.siorhouston.com

October 17 – Thursday FBSCR - Sugar Land Monthly Meeting 8:00a – 9:00a www.fbscr.com

October 24 – Thursday 10th Annual Commercial Real Estate Texas Hold ‘Em Poker Tournament Houston, Texas Doors open at 5:00p, play begins at 6:00p RSVP: jhammond@riverwaytitle.com October 24 – Thursday ULI Houston - Luncheon Capital Markets and Real Estate Investment 11:30a – 1:00p www.uli-houston.org

Your real estate deserves real ma

October 2 – Wednesday CREW Houston Annual Economic Forecast Luncheon – Marci Rossell 11:30a – 1:30p www.crewhouston.org

October 10 – Thursday CCIM Houston Luncheon – Scott McClennan 11:30a – 1:00p www.ccimhouston.org

October 17 – Thursday IREM - Houston IREM Young Professionals Happy Hour 5:00p – 6:30p www.iremhouston.org

October 28 -31; Mon. - Thur.

Houston BOMA RPA Leasing & Marketing 8:00a – 5:00p www.houstonboma.org

Count on a CPM® professional to deliver real res

October 2 – Wednesday Greater Houston Partnership Small Business Webinar Online - Members Only – Stephen King, CPA, CGMA 9:00a – 10:00a www.houston.org October 3 – Thursday NAIOP - Houston Fall Event - When Houstonians Ruled the Earth 7:00p – 10:00p www.naiophouston.org

CPM

®

October 4 – Friday CREN Houston Luncheon 11:00a – 1:00p www.crengulfcoast.com

October 10 – Thursday HRBC - Houston Junior League 7:30a – 8:30a www.houstonrealty.org October 10 – Thursday Houston BOMA EXPO Committee 3:30p – 4:30p www.houstonboma.org

October 10 & 11 – Thur – Friday South Texas College of Law Houston 16th Annual Commercial Real Estate – Super MCE 7:30a – 5:25p www.stcl.edu;www.siorhouston.com

To find a CPM® in your area, visit www.irem-dallas.org

October 8 – Tuesday Houston BOMA – LAC Meeting Houston, Texas 7:30a – 8:30a www.houstonboma.org

Networking

34 redNEWS.com

October 14 – Monday CREAM Houston Luncheon – The Honorable Ryan Gable 11:00a – 1:00p www.creamtx.com

Educat ion

Technology

CCIM Course Scholarships CI 101, CI 102, CI 103, CI 104 or CCR & Exam

October 17 – Thursday BACREN - Houston Monthly Luncheon Speaker – Eric Standlee 11:00a – 1:00p www.bacren.com

October 18 – Friday CREN Houston - Marketing Marketing Session – KW Commercial Gulf Coast 7:15a – 9:00a www.crengulfcoast.com

October 29 – Tuesday ACRP - Houston Golf Meet & Greet Happy Hour 5:30p – 7:30p www.acrp.org October 31 – Thursday CREN - Houston Happy Hour Houston, Texas 4:30p – 7:00p www.crengulfcoast.com

For optimal returns on your re turn to a CERTIFIED PROPERTY M October 21 – Monday Houston BOMA Golf Class - Tournament in Cypress, Texas ® 8:00a – 3:30p www.houstonboma.org

October 31 – Thursday Greater Houston Partnership State of the Port Boat Tour & Luncheon Tour: 8:00a – 11:00a; Luncheon: Noon – 1:30p www.houston.org

A CPM has: z Demonstrated experience i z Pledged commitment to th standards z Proven expertise in maximiz October 23 – Wednesday Greater Houston Partnership 3rd Houston Shipping and Office Conference 7:00a – 4:15p www.houston.org

north Texas October 1 – Tuesday BOMA FW Membership Monthly Luncheon 11:30a – 1:00p www.bomafortworth.org October 3 – Thursday CCIM North Texas - Dallas Sporting Clays Events benefitting Chapter Scholarships 11:30a – 1:00p www.ntccim.com October 3 – Thursday TREC – Dallas Young Guns Forum: Forgotten Dallas 6:00p – 8:00p www.recouncil.com

( dal l a s / f t. wo rth a re a )

October 4 – Friday NTCAR - Dallas DFW Airport Market Industrial Bus Tour Dallas, Fort Worth, Texas 12:00p – 4:00p www.ntcar.org October 9 – Wednesday IREM Dallas IREM Young Professionals Lunch & Learn 11:30a – 1:00p www.irem-dallas.org October 10 – Thursday NTCAR - Dallas Real Estate Economic Forum – Speaker K.C. Conway 7:30a – 9:00a www.ntcar.org

October 16 - Wednesday NAIOP - Dallas Annual Golf Tournament - The Colony, Texas 11:00a – Registration; 12:30p – Shotgun Start www.northtexasnaiop.com October 17 – Thursday CCIM Dallas Luncheon – Don Braun 4:30 – 6:00p www.ntccim.com

October 2 – Wednesday CCIM Austin - Luncheon Winston J. Krause of Krause & Associates 11:30a – 1:00p www.ccimtexas.com October 2 – Wednesday WCR San Antonio Business Resource Meeting 11:00a – 1:00p www.wcrsanantonio.org October 3 – Thursday RECA Austin Membership Luncheon 11:30a – 1:00p www.recaonline.com October 3 – Thursday CTCAR - Austin Prop Info Exchange & MCE in Killeen 11:00a – 4:00p www.ctcaronline.com

October 24 – Thursday BOMA Dallas Young Professionals Happy Hour in Addison 5:00p – 8:00p www.bomadallas.org October 30 - Wednesday SCR-FW Breakfast 7:30a – 9:00a www.scr-fw.org

( Aust in / s a n a n to n i o A r ea)

October 8 – Tuesday IREM Austin Monthly Luncheon 11:30a – 1:00p www.iremaustin.org

October 15 – Tuesday CREW Austin Annual Members Only Meeting 11:30a – 1:00p www.crewaustin.com

October 8 – Tuesday CREW San Antonio Monthly Luncheon 11:30a – 1:00p www.crew-sanantonio.org

October 16 – Wednesday RECA - Austin Fall Fete Membership and Recruitment Party 5:30p – 7:30p www.recaonline.com

October 10 – Thursday IREM San Antonio Monthly Luncheon 11:30a – 1:00p www.iremsanantonio.org

C ALEN D AR

October 31 – Thursday SCR-FW Breakfast Fort Worth, Texas 7:30a – 9:00a www.scr-fw.org

October 24 – Thursday TREC - Dallas Giving Gala 6:00p – 11:00p www.recouncil.com

Centr al/South Texas

events

October 21 – Monday CREW Austin 10th Annual Golf Adventure 11:30a – 7:00p www.crewaustin.com October 23 – Wednesday ULI Austin – Monthly Breakfast Austin, Texas 7:30a – 9:00a www.austin.uli.org

COMMERCIAL October 23 – Wednesday CLBA – Austin CBA Real Estate Challenge 1:00p – 6:00p cbaaustin.nationbuilder.com

October 19 – Saturday IREM San Antonio Volunteer for Over the Edge 7:30a – 5:00p www.iremsanantonio.org

“Commercial Lease Analysi Comparison & Lease vs Own

October 10 – Thursday CTCAR – Austin Signature Event - “Catalysts for 9 Change” 11:30a – 4:00p – Happy Hour to follow www.ctcaronline.com

October 19 – Saturday RECA - Austin Christmas in October 8:00a – 12:00p www.recaonline.com

hours of MCE - Course

October 31 – Thursday BOMI/BOMA – Austin #09-00-035-25248 The Design, Operation & Maintenance of Building Systems 6:00p – 9:00p www.bomaaustin.org

- Provide

Instructor Cliff Bogart, CCIM

Visit www.ctcaronline.com for pricing & registrati 2014 Sponsorship Packages now available!

Is your company looking for exposure and recognition in the commercial real estate industry?

SPONSORSHIP OPPORTUNITIES START AT $750.

Visit the CREW-Dallas.org website

C TC A R

w w w. c tc aro nl ine.co m

commercial real estate women

redNEWS.com 35

Out and About â&#x20AC;&#x201C; Texas CRE Networking August & September offered a lot of opportunities to rub elbows with colleagues and hear informative speeches about the market. Remember to keep an eye out for Karisa and tell her you want your picture in redNEWS!

To view more photos go to: http://www.rednews.com/networking-event-photos 1

n e t w o r k i n g 2

networking

S o u t h E a s t Te x a s 3

CCIM Luncheon 1. Holden Rushing, Studley; Kathy Hertweck, Regus 2. Aelicia Bayliss, CRG; Cindy Nguyen, Transwestern; Morgan Moliver, Phase Engineering CCIM Partner Appreciation event 3. Bill Odle, Mark Sappington, William Fendley of CobbFendley CREN Luncheon 4. Russell Simmons, Texas Area Properties; Jeanette Kew, NYT Realty Commercial; Steven Stone, KM Realty Management, LLC; Jonathan Brinsdon, Midway

4

5

5. Shelly Baker, Veritas Title Partners; Bill Dampier, Tradition Bank Fort Bend Society of Commerical Realtors 6. Peter Jacob, Rubicon Realty Group; Jim Shaw, ICO Commercial 7. Mary Gayle Brindley, Amegy Bank; Regina Morales, City of Sugar Land

36 redNEWS.com

6

7

n e t wo r k i n g networking

C e n t r a l S o u t h Te x a s

CTCAR Luncheon 1. Robert Burke, Winstead; Gay Ruggiano, Kucera Co.; Syd Xinos, Doucet & Associates 2. Daniel Gonzales, T.A.R.; Rhonda West, CCIM, West Commercial; Harry Gibbs, CCIM, KW Commercial

1

2

networking

N o r t h Te x a s CREW Luncheon 1. Michele Langenberg, TIER REIT; Kmeal Winters, TEIR REIT; Elissa Plotsky, North American Title Group; Jan True, CSM, Beck Ventures

1

How our CRE Members give back...

For the past 10 years, Steve Pali of Palico, Inc. and his family have been a part of the Mobility Mission Team that takes mobility aids (wheelchairs, crutches, canes, walkers) to the disabled poor in Mexico and Central America. Last year their mission trip took them to Guatemala where they supplied 150 wheelchairs to the needy.

The team has planned a similar mission trip in 2014 and are currently raising funds for another 150 wheelchairs at a cost of $200 each.

If you would like to make a donation, please call Steve at 281-931-9400 or email stevepali@sbcglobal.net and he can tell you how you can help.

redNEWS.com 37

Region:

South east Texas City

Size

Houston - 77056

For details on these deals, announcements & more, go to redNEWS.com

Address

Hotel Sold

Westin Galleria & Westin Oaks Houston

Houston - 77011

48,500

6501 Navigation

Houston - 77040

22,942

6511 West Little York Road

Houston

1,300,000

Tenant/Buyer/Seller

Inland American Lodging Group, Inc. (B)

Industrial Leased

Broker Representative N/A

TreadWright, LLC (T)/ Levey Group (L)

Cushman and Wakefield (LR)/Cassidy Turley

Cameron International Corporation (T)/Levey Group (L)

Newmark Real Estate (TR);Cushman and

Industrial Sold

5 Buildings - Southeast, Southwest and Central Districts

"a global investment manager" (S)

Houston - 77041

75,000

13813 FM 529

Deepwater Corrosion Services (B)/Mac Process LLC (S)

NAI Houston (BR)

Houston - 77088

84,242

7710 N. Shepherd Dr.

La Ranchera Tortilla Factory(B) Hendricks Commercial

Amigos Realty (BR); Evtex Companies (SR)

Houston - 77041

22,500

7542 Fairview

Laser Welding Solutions, LLC (B)/ Heard Development (S)

NAI Houston (BR)/Scott Heard (SR)

Houston - 77064

91,451

Legacy Business Park

Adler Kawa (B) / GID (S)

HFF (SR)

110,400

Bammel Business Park

Adler Kawa (B) / GID (S)

HFF (SR)

Houston - N/A

Land Sold

Baytown

2.893 Acres

Rollingbrook Drive and Shady Hill

Baytown

.5909 Acres

W. Baker Rd, (West of Emmett Hutto Blvd)

Moon Rentals LLC (B)/ Jeffrey S. Terry (S)

Claire Sinclair Properties, LLC (SR)

N. Highway 146

N&L Enterprises, LLC (B)/ Adolfo Rubio & Raquel Lumbreras

Claire Sinclair Properties, LLC (SR)

Dayton

15 Acres

Houston - 77056

23,588

1775 St. James Place

Houston - 77076

45,500

550 Canino Road

Pearland - 77584

37243& 34983

Texas 313 LLC (B)/ L&J Final Edition (S)

CBRE (SR)

Office Leased Mattress Firm (T), BMS Management, Inc. (L) IFCO Systems (T), NATMI National FX Properties, LLC (L)

Office Sold

Claire Sinclair Properties, LLC (SR)

Studley (TR), Newmark Grubb Knight Frank DTZ Americas, Inc.(TR)/ NAI Houston (LR)

9307 Broadway (FM 518) & 9223 Broadway (FM 518)

"financial institution"(S)

Marcus & Millichap (BR & SR)

Corpus Christi - 78411

25,000

5201 Blanche D. Moore Drive

Brandenburg Properties (S)

CBRE (SR)

Houston - 77079

57,811

14811 St. Mary's Lane

BGK Intergrated Group(S)/ Mission Equities (B)

HFF(SR)

Houston - 77027

201,720

2200 West Loop South

Paramenter Realty Partners (S)

HFF (SR)

Houston - 77046

4,000,000

Greenway Plaza

Crescent Real Estate Holdings LLC (S);Cousins Properties (B) HFF (SR)

25772 Kingsland

Amani Investments, LP (B) / MetroBank, N.A. (S)

Katy - 77494

40,000

Houston - 77095

193,595

HFF (SR) Marcus & Millichap (SR)

Katy - 77494

68,990

Park Plaza Centre

Texas Pacific Properties (B)/ Thompson National Properties

New Developments

Size

Address

Name/Tenant

Apartments - Houston

Apartments - Houston

316,000 n/a

Cushman & Wakefield (SR)

Retail Sold Easton Commons - NE Corner of Highway 6 and West Road The Huntensky Group/American Realty Advisors (S)/

Developer

2111 Westheimer (former Café Adobe)

2111 Westheimer

Hines

Just North of I10 in The Heights

Arlington-Columbia Development, LLC (B)/The Arlington

Hankamer & Associates Brokers, LLC

Industrial - Houston

351,250

I45, south of Beltway 8

Greenspoint Business Center

IDI

Industrial - Missouri City

208,800

South Gessner Road & Highway 90

Beltway Crossing Business Park

Stream Realty Partners

Medical - Galveston

11 Acres

61st Street

UTMB/The Sealy & Smith Foundation

The Sealy & Smith Foundation

Mixed Use - Houston

n/a

Richmond & Wakeforest

Vitol (Office Tenant) Cushman & Wakefield (TR)

Midway Development

Office - Houston

167,000

2229 San Felipe

N/A

Hines

Office - Houston

325,000

West Memorial Place

N/A

Skanska USA

Office - Houston

122,000

West Memorial Place

Petroleum Geo-Services (T); CBRE (TR)

Skanska USA

Office - Houston

175,000

12140 Wickchester Lane

Jacobs Engineering (T)

PM Realty Group (development partner)

Office - Houston

154,213

1585 Sawdust Road/The Reserve at Sierra Pines II

N/A

Stream Realty Partners

5213 Center Street

The Houston Area Safety Council

Houston Area Safety Council

New Caney, Texas - US 59 and Highway 242

New Caney Theme Park

Innovative Leisure Partners

Office - Pasadena

67,000

Theme Park -New Caney

600 Acres

L = Landlord • T = Tenant • B = Buyer • S = Seller • SR = Seller Rep • BR = Buyer Rep • TR = Tenant Rep • LR = Landlord Rep

CRE People on the move

Thomas Getty Boxer Property

Wyatt McCulloch CBRE

38 redNEWS.com

David Boyd Cushman Wakefield

Brandon Bean Cushman Wakefield

Darin C. Gosda CBRE

Damon Thames Doug Knaus Colvill Properties JLL - Houston

Region:

NORTH Texas City

Size

Dallas - 75220 Fort Worth - 76219 Fort Worth - 76219

77 Units 118 Units 40 Units

For details on these deals, announcements & more, go to redNEWS.com

Address/Property Name Bachman Glen at 2555 Webb Chapel Extension

Tenant/Buyer/Seller

Broker/Representative

Apartments Sold

Bachman Glen Joint Venture (B) / "A national lender" (S)

Marcus & Millichap - (BR/SR)

The VUE at Texas Christian University

Inland American Communities (B)

CBRE (BR/SR)

Lowden Terrace at 2200 West Lowden Street

"A Fort Worth Based LLC" (B)/ Clarus Investment 4 LLC(S)

Marcus & Millichap - Fort Worth (BR/SR)

Bella Vida at 9601 Custer Road

Atlas Real Estate Partners (B)/Virtu Investments(S)

N/A

Plano - 75025

548 Units

Dallas - 75006

43,146

1200 Trend Drive

Dallas - 75247

18,000

4647 Leston Avenue

Southland Farm Store (T)/Regal Business Center, LLC (L)

Dallas - 75247

20,600

4653 Leston Avenue

Export Global Metals, Inc. (T)/Regal Business Center, LLC (L)

Dallas - 75247

55,915

5019 Pulaski Street

Wilson Office Interiors (T)/ DRA Advisors (L)

Stream Realty Partners (TR/LR)

Grand Prairie - 75050

54,125

907 Avenue R

PGT Holdings Inc. (T)/DFW I Investors LLC (L)

Bradford Commercial Real Estate(TR)/Holt

Grand Prairie - 75051

77,510

739 S Parkway Drive

Lear Operations Corporations (T)/First Industrial Texas, LP (L)

CBRE - (TR)/ CBRE Dallas (LR)

Grand Prairie - 75247

24,128

2501 109th Street

Harrah Industries (T) /Prologis (L)

Stream Realty Partners (TR)/Prologis (LR)

Grapevine - 76051

12,000

1200 Texan Trail

RaceTrac Petroleum (T)/ Tarrant County Properties (L)

CB Richard Ellis (TR)/Colliers International (LR) Jones Lang LaSalle Americas, Inc (TR)/Stream

Industrial Leased

Starpower Home Entertainment Systems(T)/EastGroup Properties(L) Mercer Company (TR)/Lee & Associates (LR) National Real Estate Group (TR)/Colliers International (LR) Mercer Company (TR)/Colliers International (LR)

Lunsford Commercial(LR)

Irving - 77051

8,432

9155 Sterling Street

Chrane Food Services (T)Freeport Commerce Center I (L)

Irving - 77051

10,795

9155 Sterling Street

Austco (T)/Freeport Commerce Center I (L)

Lewsiville - 75056

90,710

2525 State Highway 121

PPG Industries, Inc. (T)/ Stockbridge(L)

Stream Realty Partners (TR/LR)

Realty Partners (LR) Bradford Commercial Real Estate (TR)/Stream Realty Partners(LR)

Dallas

Industrial Sold

1,300,000

10 Buildings - Great Southwest/Arlington and Northeast Dallas

"A global investment manager"

CBRE (BR/SR)

Fort Worth - 76219

754,554

Northlake Industrial Center & Towne Lake Business Park Two

Panattoni Development (S)/ Cabot Properties (B)

HFF (SR)

Carrollton - N/A

19 Acres

SH 121 and Hebron Parkway

The Victory Group (B)/HCB Indian Creek Texas, LLC (S)

Venture Commercial's Land Division

Dallas - 75240

25,070

5501 LBJ Freeway

Dallas - 75206

22,442

Two Energy Square at 4849 Greenville Ave.

Plano - 75093

6,116

Preston Pointe Centre at 1400 Preston Rd.

Land Sold

(BR)/Patman Realty Company (SR)

Office Leased

Wingstop Head Quarters (T)/TR LBJ Campus Partners (L)

Stream Realty Partners (TR)/Thompson Realty(LR)

Stonegate Mortgage Corp. (T)/Long Wharf Real Estate Partners &

CBRE(TR)/Lincoln Property Co.(LR)

Champion Partners(L)

Irving - 75063

226, 822

Fort Worth - 76102

980,374

J. Marc Hess of Chicago Title (T)/ Intercity Investment Properties

Citadel Partners(TR)/ Bradford Commercial Real

Inc.(L)

Estate Services (LR)

2001 W. John Carpenter Fwy (Carpenter Corporate Center I & II)

Chambers Street Properties (B)

N/A

777 Main

Affiliate of Cousins Properties (B)/Crescent Real Estate Holdings

HFF (SR) - May have been BR, too

Office/Medical Sold LLC (S)

Frisco - 75033

5,583

9359 Legacy Drive

DPM & Tracy Robillard, DPM (B); JP Commercial Property

Hudson Peters Commercial (BR)

Developers, LLC( S) Frisco - 75034

91,000

5680 Frisco Square

Healthcare Trust of America, Inc. (B)/Affiliates of Forest Park

N/A

Medical Center (S)

Abilene - 79601

2,000

Abilene Corners at 1650 State Highway 351

Retail Sold

AT&T (T)/ Abilene Corners (L)

John T. Evans Company (TR) Retail Solutions (LR)

Retail Leased

Plano - 75075

45,502

300 Lexington Drive

The Van Tuyl Group (B)/ DJM Realty (S)

Henry S. Miller Brokerage (BR)/ DJM Realty

Fort Worth - 76116

33,269

6700 Camp Bowie Boulevard

Custer Properties, LLC (B)/Town West Shopping Center, LLC. (S)

350 South Highway 123 Bypass

"Individual/Personal Trust" (B)/Lake Woodlands Partners LP. (S)

Marcus & Millichap - Fort Worth (BR/SR)

Address

Name/Tenant

Developer

Lake Granbury Medical Center (Addition the hospital)

The Sanders Trust

(SR) Henry S. Miller Brokerage (BR)/SRS Real Estate Partners(SR) Seguin - 78155 New Developments Med/Office - Granbury Retail - Kaufman Retail - Dallas

8,000 Size 41,000 158,580 13,500

1310 Paluxy Rd US 175, just East of SH 34

Wal-Mart

N/A

7939 Walnut Hill Lane

Trader Joe's

N/A Exter Property Group

Off/Ind - Flower Mound

230,000

Lakeside Parkway near SH 121

This one has broken ground

Off/Ind - Flower Mound

350,000

Lakeside Parkway near SH 121

This one has not broken ground- will break ground when first one is Exter Property Group nearly leased up

L = Landlord • T = Tenant • B = Buyer • S = Seller • SR = Seller Rep • BR = Buyer Rep • TR = Tenant Rep • LR = Landlord Rep

CRE People on the move

Amber Strang Transwestern

Greg Biggs Mark Freeman JLL (Jones Lang LaSalle) Colliers

Bob Helterbran Colliers

redNEWS.com 39

Region:

Central South Texas For details on these deals, announcements & more, go to redNEWS.com City

Size

Austin - 78753

18.977

San Antonio - 78251

Property Name/Address

Landlor/Tenant/Buyer/Seller

8900 N IH 35 - Solano Apartments Highway 151 and Loop 1604 -

Apartment Sold

Broker Representative

FPA MultiFamily, LLC (S)/ Avesta

Muskin Commercial - (SR)

Steel Castle Property Partners LLC (B)

CBRE (BR/SR)

Industrial Leased San Antonio - 78218 Waco - 76701

46,200 100,000

8627 NE Loop 410

Stag-Parkway, Inc. (T)/Atlas, CP (L)

Lee & Associates (TR)/Endura(LR)

US 84

Vossloh AG (T)

N/A

Industrial Sold Schertz - 78154

Austin - 78759

10,000

16,696

9492 Corporate Drive

Biltmore Construction Management LLC

Office Leased

9500 Arboretum Blvd

Transwestern (BR/SR)

Ipsoft (T)

Commercial Texas, LLC (TR)/Aquila (LR)

San Antonio - 78216

1,885

45 NE Loop 410

Engle Martin (T)/ Centre Plaza (L)

Travis Commercial (TR)/Stream Realty Partners (LR)

San Antonio - 78229

1,610

4801-4885 Fredericksburg Road

Emergency Dental Care (T)/ Woodlake

Stream Realty Partners (LR)

San Antonio - 78232

1,590

140 Heimer Road

Pear Analytics(T)/ Northbrook Business

Baskin Properties (TR)/Stream Realty Partners (LR)

San Antonio - 78238

3,000

6737 Poss Road

BTP Asset Management(T)

Retail Solutions (TR/LR)

San Antonio - 78257

13,077

17802 IH-10 West

Constellation Brands (T)/ Elian (L)

CBRE (TR/LR)

Office Sold New Braunfels - 78205 San Antonio - 78205

40,481 261,633

111 West San Antonio

West San Antonio 111, LLC (B)

CBRE (SR)

One Riverwalk Way at 700 N. St.

USAA Real Estate Co. (B)

Peloton Commercial Real Estate (BR/SR)

Retail Leased Austin - 78705

1,309

3411 N. Lamar

Rick's Cleaners (T)

Retail Solutions (LR)

Austin - 78741

1,200

Willow Court at 2030 E Oltorf

Metro PCS (T)

Firt American Commercial Property Group (TR)/Retail

Austin - 78741

12,500

Riverhills Center at 1903 Riverside

Metro PCS (T)

Retail Solutions (LR)

Austin - 78745

2,373

6800 Westgate Blvd.

Bamboo Bistro (T)

Retail Solutions (LR)

Austin - 78749

1,952

1901 W. William Cannon

Shipping Center 78745 (T)

Retail Solutions (LR)

Austin - 78759

3,500

Arbor Town Square at 10717

Wahoo's Fish Taco (T)

CBRE (TR)/Retail Solutions (LR)

Cedar Park - 78613

1,700

3621 E. Whitestone Blvd

Art + Academy (T)

Retail Solutions (LR)

Kenedy - 78119

1,200

Kenedy Junction at 205 Business

GNC (T)

Venture Commercial (TR)/Retail Solutions (LR)

Killeen - 76541

1,200

Mizpah Plaza at 2006 E. Rancier

Metro PCS (T)

Retail Solutions (TR)/David Barr Properties (TR)

San Antonio - 78238

1,155

5251 Timberhill Road

Metro PCS (T)

Retail Solutions (LR)

Retail Sold

San Antonio - 78229

26,916

1600 Babcock Road

Private Investor (B)/CMBS Special Server

CBRE (SR)

San Antonio - 78284

4,915

Jack in the Box at 10418 Perrin

Private Investor (B)/ Gary McDaniel (S)

CBRE (SR)

San Antonio - 78214

4,000

1115 SE Military Drive

Wing Daddy's Sauce House (T)

New Developments

Size

Property Name/Address

Name/Tenant

Developer

N/A

Lady Bird Lake at 300 E. Riverside

Apartment Name not given

CWS Capital Partners

Office - Austin

N/A

East Cesar Chavez & Red River

The Waller Center

Sutton Co.

Office/Medical - Austin

N/A

4701 Bee Cave

The Hills Professional II (Tenant)

Equitable Commercial Realty

Willamson County Rd. 111 & E

Bass Pro Shop (Tenant)

N/A

Peanut Factory Lofts (Tenant; Apartment

Restaurant Leased Apartment - Austin

Retail - Round Rock

104,000

Apartment - San Antonio

N/A

427 W. Cevallos

Industrial - Schertz

N/A

Enterprise Avenue and Lookout Road Titan Industrial Park (L)

Valcor Commercial Real Estate (TR)/Retail Solutions (LR)

210 Development Group CBRE & Endura Advisory Group (LR); Titan Development (D)

L = Landlord • T = Tenant • B = Buyer • S = Seller • SR = Seller Rep • BR = Buyer Rep • TR = Tenant Rep • LR = Landlord Rep

CRE people on the move Craig Swanson CBRE - Central South

40 redNEWS.com

classifieds

iNDEX

1.9 AC - Fry Rd. Near W. Little York, Katy, TX FM 529

TE SI

Fry Road

N

• 1.96 Acres • $570k/$6.66 PSF • 281 ft Fry Rd. Frontage • 300 ft Depth • All Utilities Available *Priced Below Market TAO Interest, Inc - Broker

W. Little York Road

Tim Opatrny • 713.621.9841 www.taointerests.com email: tim@taointerests.com

advertiser

iNDEX

A. A. Realty Company .. .......................................21

International Church Realty .. ..............................19

ACRP..................................................................24

IREM ................................................................34

Boxer Property ..................................................27

JPR Commercial Real Estate ...............................25

CCIM - Central Texas ........................................35

KM Realty Advisors . . ..........................................17

CCIM - Houston ................................................34

La Gloria Land Company . . ................................... 2

CCIM - North Texas . . .........................................35

Moody Rambin Interests . . ...................................31

Conroe Industrial Development Corporation . . .............................. 1, 3

Newmark Grubb Knight Frank . . ............................ 5

C.R.E.A. M. .......................................................34 CREN ................................................................34 CREW - Dallas ..................................................35 CREW - San Antonio .. .........................................35 CTCAR ..............................................................35 Greenberg & Co. ...............................................19 Homeland Properties, Inc. ..................................19 ICSC - Hispanic Markets ....................................44

Phase Engineering, Inc. . . ...................................33 Silvestri Investments . . ........................................31 South Texas College of Law ................................43 TAO Interests, Inc. . . ...........................................42 Tarantino Properties, Inc. ................................. 8, 9 Texas Funding Corporation ...............................42 The J. Beard Real Estate Company .. ....................11 Transwestern Commercial Services ..............15, 19 Zarsky Industries .......................................... 7, 25

ICSC - Texas .....................................................32 redNEWS.com 41

last page

1. They don’t hold grudges.

2. They think outside the box.

3. They go by a routine and make exercise a part of it. It takes practice to develop healthy habits and stick with them. Once you do, your internal foundation will be strong.

4. They have a supportive tribe, not wasting time with negative or toxic people.

5. They don’t care what other people think.

6. They don’t people please.

7. They see difficult and challenging situations as opportunities for personal growth.

8. They consider handling rejection a skill and are resilient.

Habits

of People Who Are Happy, Healthy, & Successful Excerpted from an article on MindBodyGreen by Kristy Rao Submitted by: Ray Hankamer

S

o what is it about happy people that makes them the way they are? Here are just some of the ways they separate themselves from the rest of the crowd:

9. They make time for themselves. Whether it’s getting eight hours of sleep every night, finding 15 minutes to read the newspaper in peace or an hour to go to the gym, they make it a priorityjust like everything else. When you take care of yourself, you have a bigger impact on others.

10. They are spiritual. This doesn’t necessarily mean religious. It could mean setting aside time for reflection through yoga or meditation.

11. They practice deep breathing.

12. They know there isn’t such a thing as ‘having it all’ and they’re happy about that. Wouldn’t the world be a boring place for them otherwise.

13. Fear doesn’t hold them back. They are ready to take risks.

14. They know how to say “no” and don’t hold back.

These people have learned to set boundaries.

Plenty of them.

15. They learned a great deal from other people they admire. Either they had a great mentor, or they took note of how those they aspired to be like handled various situations.

16. They follow their inner guidance. Not only do they have a vision, but they follow it.

17. They give without expecting anything in return.

18. They aren’t pretentious or conceited.

19. Passion is what drives them. They authentically believe in what they are doing.

20. They don’t complain.

21. They live by their core values in both their professional and personal lives.

22. They’re happy to swim against the tide.

23. They finish what they start.

24. They don’t compare themselves to other people.

25. They want you to succeed too.

42 redNEWS.com

October 10-11, 2013 16th Annual COMMERCIAL REAL ESTATE Co-Sponsored with South Texas College of Law / Houston 1303 San Jacinto Street, Houston, Texas 77002

®

the mandatory TREC Legal and TREC Ethics courses, but more than enough TREC-approved elective hours to satisfy your entire 15-hour continuing education requirement. Attendees will hear from commercial real estate industry experts like Dr. Mark Dotzour about Texas’ economy, Jack Steele about Texas’ changing demographics, and Dr. Bill Gilmer about the likely impact the booming energy industry will have on Texas’ real estate business. Larry Nettles will cover frac-ing and the Clean Water Act in his presentation on hot topics in environmental law and Texas House Representative Jim Murphy will provide attendees with a Texas Legislative Update. Key panels on Energy, Re-Inventing North Houston, and New Development as well as several practical sessions about using (and not using) technology round out the packed agenda.

A Networking Reception honoring Texas House Representative Jim Murphy will be held at the end of Day 1 at which attendees and speakers can meet and mingle.

LOCATION Garrett-Townes Hall South Texas College of Law 1303 San Jacinto Street, Houston, Texas 77002 Complimentary Wi-Fi provided

DATE AND TIME Thursday, October 10, 2013 (8:30 am - 5:25 pm); Networking Reception from 5:25 pm - 6:45 pm

Friday, October 11, 2013 (8:30 am - 3:50 pm) REGISTRATION View program details and register online at www.stcl.edu/cle CONTACT US Continuing Legal Education Department (713) 646-1757 or (800) 646-1253 or cle@stcl.edu

Accreditation pending by the Texas Real Estate Commission (TREC) for 17 MCE hours. Provider number 0207, Real Estate Center, Texas A&M University. Includes the required legal update and ethics hours required by TREC.

UHG 1(:6

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL

5($/ (67$7( ',5(&725<

PRSRT STD U.S. POSTAGE PAID Permit No. 2436 DALLAS, TX

5909 West Loop South, Suite 135, Bellaire, Tx 77401

FOCUS ON RETAIL October 14 – 15, 2013 ■ Fairmont Dallas ■ Dallas, TX

Hispanic Shoppers 50 million today - 134 million by 2050 Does your business plan capitalize on this growing market? If not, it should.

This exploding demographic is creating never before seen opportunities. Hear from experts with a proven track record in an interactive setting and network with key industry players.

Discussions will include: ■ What is the most efficient way to enter these markets ■ Valuable take home information applicable to your business ■ How to gain the acceptance from the community ■ What kind of returns can you expect as a retailer or investor, and much more Don’t miss the opportunity to learn the keys to success in reaching this lucrative market.

For information on the Program, Registration, Exhibiting, Sponsorship and the New Project Showcase visit www.icsc.org/2013HMN.