THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE | OCTOBER 2021
LAKE CONROE
FOR MORE INFORMATION, SEE PAGE 22
4,000 HOMES OPENING 2022
FO R S A L E | WI L L I S , TX Over 1,500 ft. of frontage on I-45 Located in an opportunity zone Minutes from Lake Conroe 20 minutes from The Woodlands Hard Corner at I-45 and HWY 75
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www.leveygroup.com
An entrepreneurial commercial real estate company with a 40-year track record of achieving outsized returns
LEVEY GROUP’S NEWEST PROJECT OPENING Q1 2022 DETENTION 1.71 ACRES
BUILDING 5 103,470 SF
Ground-up development Value-add investment opportunities Joint-ventures High-yield, collateral-backed, commercial real estate loans
175'
592'
• • • •
210'
650'
• Class-A, five-building
BUILDING 4 99,925 SF
SCALE - 1 : 1440
SITE PLAN
siness Center at Five Corners
project with Beltway 8 frontage in the burgeoning southwest Houston industrial submarket
• Suitable for single and
NFORMATION PROVIDED BY THE OWNER - SUBJECT TO CHANGE
BUILDING 2 138,163 SF
210'
BUILDING 3 132,084 SF
210'
416'
650'
120' 155'
DETENTION 1.24 ACRES
BUILDING 4 99,925 SF
multi-tenant configurations
• Front-load, cross-dock and rear-load buildings
• Ceiling clear heights from 28-32 feet
BELTWAY 8 - ACCESS ROAD
The Business Center at Five Corners SCALE - 1 : 1440
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210'
320'
435'
BUILDING 1 68,304 SF
382'
320'
DETENTION 1.71 ACRES
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175'
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BUILDING 5 103,470 SF
• 595 surface parking spaces • Joint-venture partnership
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IN THIS ISSUE 12 Features “No Place You’d Rather Be”: Economic development organizations capitalize on lure of Texas New numbers from the 2020 U.S. Census reveal what so many of us in Texas knew already: more people are moving here than any other state in the country.
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Westchase District Brings New Amenities to Top Performing Real Estate Market It was 2004 when a group of bold leaders from Westchase District met in a board retreat to go through a visioning exercise to imagine what Westchase District might look like 20 years down the road
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Tight, Dynamic & Evolving: Texas industrial experts discuss recordsetting market Industrial CRE experts in Texas have seen just about everything over the course of their careers. Even so, where the market stands today is a first for many. From the ground up: Levey Group rises to challenge of unprecedented industrial market Powered by an entrepreneurial spirit, Houston’s Levey Group is seizing the moment for which it has prepared for nearly 40 years.
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Scoop
New residential communities spur increased commercial land It doesn’t take much of a drive to escape out of the fourth-largest city in the U.S. and head into nature.
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Leading Ladies: REDnews celebrates women in commercial real estate This month, we are celebrating women in commercial real estate. REDnews connected with some female CRE leaders to gain insight into their successes and get their lessons for future generations.
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CRE Marketplace
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Letter from the Editor THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE
NATIONAL PUBLISHER Mark Menzies menzies@rejournals.com
MANAGING EDITOR AJ LaTrace alatrace@rejournals.com
STAFF WRITERS Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDnews.com
SENIOR VICE PRESIDENT Benton Mahaffey benton@REDnews.com
EMARKETING DIRECTOR
“There is one thing we can pretty much say for certain: the Californians are going to keep flooding in over the next year.”
Sarah Evans Carter emarketing@REDnews.com
ADVERTISING & CONFERENCE SALES Ginger Wheless ginger@REDnews.com Tressa Mogas Barzilla tressa.barzilla@rejournals.com Jeff Johnson jeff.johnson@rejournals.com Jessica Johnson jessica.johnson@rejournals.com
CLASSIFIED DIRECTOR Susan Mickey smickey@REDnews.com
EVENT COORDINATOR Abby Lestin abby.lestin@rejournals.com
PRINT & DIGITAL DISTRIBUTION REDnews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US.
Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387
The Texas sun is still bright as ever, but October is when the weather finally starts to cool down and outdoor movie nights are much more comfortable. It’s also a time when we start realizing that this year is already coming to a near-close. Can you believe it? We’re already getting into Q4 of 2021. Over the previous months, the quarterly reports from the first half of 2021 showed some mixed signals. Sure, industrial real estate was cranking along, but office and retail had been struggling. It’s anyone’s guess exactly how it will pan out in these final few months of 2021, but things are looking more optimistic. Actually, there is one thing we can pretty much say for certain: the Californians are going to keep flooding in over the next year. Just one example of some good news was in Austin. Despite a relatively high vacancy rate, the Austin office market has had a very productive few months with leasing activity and absorption. It’s no big surprise as the city has long been a darling in the tech world and for younger migrants looking for a more vibrant culture and city experience. One other big lesson we’ve learned this summer is that the pandemic is far from over. And, truly, it’s terrible. There’s no other way around it. Everyone is tired of masks, of being hesitant to hug or shake hands, and of the uncertainty about our individual and collective economic security. As the virus ravages Florida, it’s a yet another cautionary tale that we can never be too sure.
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OCTOBER 2021
AJ LaTrace, Managing Editor
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ICON NOMINATIONS
The Texas commercial real estate industry is filled with inspirational leaders and successful business professionals. These leaders have helped shape the landscape of their cities. And for this, they deserve to be honored. This January, REDnews will publish its Second Texas CRE Icon class of inductees into the 2021 Texas Commercial Real Estate Icons. This issue will feature profiles of the most important players—from all facets of the business—in the commercial real estate industry. To make this issue a success, we need your help. We’re relying on nominations from Texas commercial real estate professionals to help us better understand those that warrant inclusion into our 2021 Texas CRE Icon class.
All Nomination forms are due November 5, 2021.
rejournals.com/TXicons2021
“No Place You’d Rather Be”: Economic development organizations capitalize on lure of Texas BY BRANDI SMITH
New numbers from the 2020 U.S. Census reveal what so many of us in Texas knew already: More people are moving here than any other state in the country. The appeal is clear. Texas offers a businessfriendly environment, along with an affordable cost of living, making it ideal for corporations and their employees. Bringing businesses to the Lone Star State is the easy part. Choosing which community to call home base can be a challenge. That’s where economic development organizations, like the Dallas Regional Chamber, come in.
Sergio Contreras
DALLAS “The DRC works closely with regional cities and the business community to attract significant corporate locations and expansions to the region,” says Mike Rosa, DRC’s senior vice president of economic development. “Six Fortune 500 headquarters have relocated here in the past six years, along with many other headquarters, office, and industrial projects.” Two of the most recent relocations are financial services giant Charles Schwab and infrastructure firm AECOM. “The Dallas region continues to lead the nation in population and job growth, providing fuel for the commercial real estate market,” Rosa says. “There's no place you'd rather be in business today or in the future than Dallas.” To continue that success, the DRC also works on education, workforce, transportation, quality of life and other fundamental issues important to all the people who live in the region, as well as to existing and future companies. “We are targeting corporate headquarters and technology companies,” says Rosa. “DFW is attractive to lots of sector and project types, so we're not limited in our range of possibilities.” SOUTH TEXAS At the other tip of Texas, the Rio Grande Valley Partnership drives collaboration and investment across its four-county region, which include Starr, Hidalgo, Willacy and Cameron counties. “We engage with economic development corporations by bringing investors, developers and bankers into each one of our communities to highlight the opportunities there,” says RGV Partnership president Sergio Contreras. “That way, investors can have a clear picture of the local incentives and targeted industries by the local communities.” The opportunities in the Valley are many, according to Conteras. The trade industry is creating demand for cold storage facilities throughout the region, which includes a demand for warehouse space. Healthcare is another booming industry, which brings a $13.7 billion economic impact to the region. “There’s demand for all types of healthcare, including dentists, orthopedists and more,” Conteras says. Elon Musk’s decision to build a SpaceX launch site in Boca Chica, near Brownsville, generated increased interest in the space industry as well. While RGV Partnership helps facilitate those communications among the region’s cities, the South Texas Commercial Association of Realtors, which covers territory from San 8
OCTOBER 2021
Jessica Herrera
Tip Johnston
Mike Rosa
Danielle Scheiner
Antonio to Brownsville, works at the realtor level. “We have and maintain contacts with the local EDCs and encourage ‘area developments,’ not just local. What is good for Brownsville is good for South Padre Island, Harlingen, etc.,” explains Vernon “Tip” Johnston, STCAR president and broker with Meybohm Realtors. “We communicate with commercial real estate brokers from out of the area that represent investors looking for new markets that are growing.” That certainly describes South Texas, where Johnston says open land values have doubled in the past three years. “Speculators are buying and holding land tracts near or with infrastructure for development. In the past year, most single-family developments sold out before completion. These are 60- to 100-lot subdivisions,” Johnston shares. “Redevelopment of older shopping centers and malls is very strong and those centers are releasing quickly by South Texas standards.” He adds that demand for smaller industrial/warehouse space (3,000 to 10,000 square feet) is very strong, a bit more than larger spaces (up to 25,000 square feet). Johnson is currently marketing a fully insulated 38,400-square-foot warehouse at Valley International Airport. The property at 5402 Bodenhamer is 4.49 acres and features dockhigh, clear span, ESFR construction with 26 dock doors and three drive-in ramps. It can accommodate up to five aircraft and has parking for 50 trailers and cars. “I have been fortunate to turn several warehouses recently, but the available inventory is very low at this time,” says Johnston. The RGV continues to draw interest, despite how the region is sometimes portrayed in headlines. Border communities, Conteras says, have not seen negative impacts for businesses as a result of the immigration surge. “The market continues to excel and reach new levels of investment across the region,” says Conteras. “Multiple cities are exceeding the prior year’s valuation of permits over the past six to eight months.” CONROE When we talk about population growth in Texas, it’s impossible to overlook Conroe. Located 40 miles north of Houston along I-45, the city is one of the state’s fastest growing communities. Roughly 1.6 million potential employees now live within a 40-mile radius of Conroe and more than 2 million workers are available in neighboring Harris County. The commercial real estate opportunities available reflect that. “Conroe is a popular destination for manufacturing and distribution companies due to Continued on Page 10>
CONTENT PARTNER Consistently ranked as one of the fastest-growing cities in the country, Conroe's modern, business-friendly atmosphere, regional airport and two major business parks help make it a prime manufacturing and distribution hub. Located 40 miles north of Houston along I-45, Conroe is a premier business destination due to the community’s strategic location, robust infrastructure and highly skilled talent. Continuing education and workforce training are available through Lone Star College - Conroe Center, making it easy for companies to upskill their workers and for the local workforce to fill in-demand jobs. Conroe is ideally situated in that companies can house their regional or corporate headquarters in The Woodlands and their manufacturing headquarters eight miles up the interstate in Conroe with a regional airport right next door. Conroe has two city-owned business parks that make it fast and affordable to locate in the city. Conroe Park North, located on FM 3083 in Conroe two miles east of I-45, is a 1,655-acre industrial park featuring four-lane concrete streets, city water and sewer, and signage. The more than 40 companies and 3000+ employees currently locating within Conroe Park North represent a wide variety of industries, including medical device manufacturing; freight distribution; advanced manufacturing; machining; food processing; specialty packaging;
oilfield services; commercial product distribution; warehousing; and higher education. Deison Technology Park, located on FM 1484 in Conroe four miles east of I-45, is a 248-acre technology park featuring an innovative, eco-friendly space for your corporate campus, research and development, life sciences, or office facility. With infrastructure in place, Deison Technology Park also offers the amenities of an idyllic park setting with hiking and biking trails and peaceful gathering areas. And with its close proximity to Conroe-North Houston Regional Airport, Deison Technology Park provides a unique business solution for your corporate travel needs. Conroe’s economic base is well-diversified with 4,800 employers in a variety of sectors, the largest of which is retail, followed closely by health care, social services and public administration. The top jobs by occupation in Conroe are office and administrative support, executive managers, administrators, sales, production workers, construction and extraction. Conroe’s residents are attracted to new and affordable homes, award-winning educational institutions, beautiful Lake Conroe, easily accessible walking trails, Conroe's charming downtown, and how easy it is to get around. Combined with the proximity to Houston's amenities and gulf coast beaches, it's no wonder that in Conroe, Texas, More is Made Here!
MORE IS MADE HERE. DISCOVER WHY IN CONROE, TEXAS.
Innovation. Opportunity. Excitement. Come discover your more in a premier business destination.
Two pad-ready industrial parks: 1,655-acre Conroe Park
World-class medical services
North and 248-acre Deison Technology Park
Regional airport with U.S. Customs facility
Skilled labor and excellent schools
Incentives to qualified projects
Just north of Houston and The Woodlands
Live, work and enjoy life in Conroe, Texas
Near Bush Intercontinental Airport and Port of Houston
(936) 538-7118 • ConroeEDC.org
EDC's
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the community’s strategic location, robust infrastructure and highly skilled talent,” says Conroe Economic Development Council executive director Danielle Scheiner. “Conroe supports business growth financially and dedicates a portion of our sales tax for incentives and the improvement of infrastructure.” The EDC is capitalizing on that demand by expanding its Conroe Park North industrial park by 610 acres, allowing the organization to continue to aggressively recruit and welcome new companies to the community.
leaders benefit from our educational programming, networking opportunities, workforce recruitment support and the personalized assistance offered by our staff. Our robust Business Retention and Expansion program is one of the best in the region and is designed to promote the growth and development of local companies through incentives for expansion and technical assistance.” Already, more than 4,800 employers in a variety of sectors have set up shop in the city. “Conroe will continue to be exciting to watch develop over the next few years,” says Scheiner. EL PASO
“In addition, landing our first tenant, VGXI, in Deison Technology Park has really cemented our position in the region as a life science manufacturing hub,” Scheiner says.
Similarly, El Paso is one to watch. The West Texas city boasts nine institutions of higher education, a population that is 70 percent bilingual and a median age of 32.
Additionally, the master-planned, mixed-use Grand Central Park is spurring development along the I-45 corridor.
“Companies find here the young, talented workforce they need to get the job done,” says Jessica Herrera, El Paso Economic & International Development director.
“One of the most exciting projects is a hotel and convention center that will carry the Hyatt Regency name located in Grand Central Park. Located on 7.55 acres directly west of the brand-new Sam Houston State University College of Osteopathic Medicine, the hotel is expected to open in early 2023 and will include a convention center, lounge and bar, outdoor dining, restaurant, pool, fitness center and 30,000 square feet of meeting space,” shares Scheiner.
The city’s logistics ecosystem is another draw. Featuring six international ports of entry, binational rail and air connectivity, and timely ground freight transit, the El Paso region is now the fifth-largest manufacturing hub in North America.
There’s no limit to the possibilities in Conroe, which is why the EDC welcomes all businesses that want to take advantage of the city’s prime location, infrastructure, workforce and incentives offered by the EDC. “Our department provides project support from assisting with site selection for new businesses to helping existing businesses grow and thrive,” Scheiner says. “Business
“Across the city, a number of new-to-market retail brands have successfully expanded into our market recently including Whole Foods, Topgolf, iFLY Indoor Skydiving, Alamo Drafthouse, and Urban Air Adventure Park,” Herrera says. “Industrial development has remained strong with construction ongoing at Amazon’s new 625,000-square-foot fulfillment center and TJX Companies 2 million-square-foot distribution operations center that together will create 1,650 new jobs.” Downtown El Paso has benefitted from the development demand. Over the past five years, Herrera reports more than $329 million in private investment that has created more than 300,000 square feet of new and rehabilitated office space, 1,200 new hotel rooms and more than 440 residential units. “Through visionary leadership, the city has leveraged local and state incentive programs to enable the rehabilitation of historic hotels and bring to life the area’s unique identity and history through $126 million in downtown capital improvement projects,” says Herrera. “El Paso’s skyline has been dramatically changed with the construction of the new Westar Tower, the first high-rise constructed in the city since the 1970s and now the tallest building in El Paso.” The 18-story tower features 262,000 square feet of Class A office space, 13,000 square feet of ground floor retail and a landscaped public green space.
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OCTOBER 2021
Herrera says her department offers one of the most business-friendly and competitive tax environments in the nation. “We use our expert knowledge of local and state incentives to build mutually beneficial partnerships that bring quality jobs and investments to our community. By nurturing relationships across business community leaders, academia, and our workforce development partners, we are able to connect employers and employees,” she adds. “In partnership with local business associations and nonprofits, we work to provide training, tools, and resources to local small businesses. Our business retention and expansion team is here to continually engage with and support businesses of all sizes to ensure they have the tools and workforce to succeed today and expand into the future.” The department is currently actively looking to bring in companies in advanced logistics, advanced manufacturing, business support services, life sciences, and tourism. Defense and aerospace companies are also of high interest due to the proximity of the largest regional military complex in the United States. “Our department’s goal is to build a vibrant regional economy through strategic development and redevelopment,” says Herrera. Consistently ranked as one of the safest big cities in the U.S. for two decades, El Paso also basks in 300 days of annual sunshine. “That makes this community the ideal place to live, work and enjoy life,” Herrera says in summary.
CONTENT PARTNER
Westchase District Brings New Amenities to Top Performing Real Estate Market Parks and streetscapes benefit landlords and tenants
It was 2004 when a group of bold leaders from Westchase District met in a board retreat to go through a visioning exercise to imagine what Westchase District might look like 20 years down the road. As a result of that exercise, the Westchase District Board of Directors established the following Vision Statement: “The Westchase community is a vibrant living and working community, with a high quality downtown. The Westchase community is perceived by residents as the safest in the region and has the highest (measured) mobility level in the region. The community is known for having entertainment/recreation amenities, and there are inter-connecting hiking, biking, and pedestrian ways, linking a set of community gathering areas.” Since that vision statement was adopted by the board in 2004, it appears on the District’s website and at the bottom of every board meeting agenda, serving as a constant reminder of the Board’s vision. Parks and greenspaces This fall, Woodchase Park — the area’s first, fully-programmed park — will open at 3951 Woodchase Drive. Woodchase Park features a fenced dog park, children’s play area with a misting feature and climbing wall, a community garden, walking paths and exercise stations, plus a pavilion with restrooms and a covered patio available for events. The park will have a soft opening in early October, with weekly activities that include adult exercise classes, a children’s mobile library, and art and music activities for kids. Ten days of grand opening festivities will begin on Thursday, October 28, including a ribbon cutting ceremony with Mayor Sylvester Turner. Woodchase Park connects to the Westpark Trail which connects to METRO’s Gesner Park & Ride. It’s just one example of the connectivity that has come to Westchase District. Westchase District’s trail system begins at Westheimer immediately east of Houston Community College and continues to Art Storey Park south of Bellaire. Multiple underpasses allow users to travel the entire 4-mile length of the trail with only three street crossings. The District will break ground at the end of the year on Wilcrest Park, which is immediately adjacent to the Library Loop Trail. Sidewalk enhancements and bike lanes now connect users to Terry Hershey Trail and other destinations throughout the area. Streetscape improvements The 2.25-mile CityWest/Deerwood Path features continuous 8-foot wide sidewalks along the west side of CityWest Blvd. between Westheimer and Briar Forest. At the other end of the path, a dedicated, two-way bike lane was built, which connects to a new, widened sidewalk that links to Terry Hershey Trail. Similar back-of-curb improvements have been completed along the east side of Elmside Drive and Woodchase Drive between Westheimer Road and Westpark Drive. This 1.25-mile path features wider, continuous sidewalks and improved landscaping, including new shade trees. Seat walls, concrete play spheres and bike racks further enhance the experience. Pedestrian lighting brightens the area at night and exercise stations have been installed at the intersection of Pagewood and Woodchase, next to Sneed Elementary School. This path connects pedestrians to Westheimer retail, METRO transit stops, and will connect to Woodchase Park when it opens this fall.
Above: Landscaping is being installed at Woodchase Park in anticipation of the park’s October opening, as seen from this aerial drone photograph. Below: New bus shelters in Westchase District are being installed on higher curbs, which mean that buses won’t have to “kneel.” That means boarding times are quicker and lane stoppages are minimized. Transit improvements coming also New custom bus shelters, made of aluminum and glass, are bringing a contemporary new look to the Westheimer streetscape. All are ADAcompliant and feature special paving, LED lighting, trash cans and upgraded signage, plus seat blocks made of a concrete blend with a glossy finish. The new shelters will be installed at 34 locations on Walnut Bend, Westheimer, Elmside and Woodchase. The shelters, which are paid for in part by METRO, are part of Westchase District’s $12.7-million project to make improvements to the pedestrian realm along Westheimer. The project also features new, improved sidewalks, landscaping, pedestrian lighting and curb ramps. Mast arms will replace span wires at all Westheimer street intersections within Westchase District. These projects completely change the landscape of Westchase District, improving mobility and creating the community gathering areas that were envisioned more than 20 years ago. The parks and trails are adjacent to commercial office buildings and apartment communities, which add value to the owners of those properties. Entrepreneur, best-selling author and leadership coach Farshad Asl said, “Vision leads to proper planning and proper planning leads to successful completion.” We have seen that adage at work in Westchase District and it has come to fruition in 2021.
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Tight, Dynamic & Evolving: Texas industrial experts discuss record-setting market BY BRANDI SMITH
“With more rooftops in Austin, the city needs more places to store toothbrushes, restaurant supplies, building materials, and other goods.” Industrial CRE experts in Texas have seen just about everything over the course of their careers. Even so, where the market stands today is a first for many. “With some of our older vintage/infill product, we are seeing rental rate increases of 40 to 60 percent on average,” shares Canon Shoults, managing principal at Holt Lunsford Commercial. “Whether renewals or new deals, lease rates have been on the move every 30 to 60 days.” That’s just one example of the red-hot industrial sector, what JLL-Austin executive vice president Ace Schlameus describes as “tight, dynamic and evolving.” “Like every market, the e-commerce explosion is driving demand, but in Austin we have the added increase with the population growth due to the masses of people moving to Central Texas,” Schlameus adds. Davis Bass, industrial project partner at HPI in Austin, sees the same driver: “With more rooftops in Austin, the city needs more places to store toothbrushes, restaurant supplies, building materials, and other goods.” Zane Cole, who is also an EVP with JLL-Austin, attributes some of the demand to a spike in automobile manufacturing and vendors looking to be a part of production that is starting as soon as the end of the year. He’s no doubt referring to Tesla’s Gigafactory Texas, the first the company’s building from the ground up in the U.S. Early in September, it was reported that Samsung, one of Tesla’s key suppliers, is looking to build a $17 billion chip plant in neighboring Taylor, expanding its footprint in Central Texas. The company already has a facility in Austin, but the Taylor plant would be more than four times as large. JLL’s Q2 Industrial Outlook report documents historic leasing activity: 2.7 million square feet, double the three-year quarterly leasing average. While 12
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Shoults Canon
Zane Cole
Ace Schlameus
vacancy drops, asking rent is up to $8.71 per square foot. Stats like that are why HPI ramped up development of its Hays Commerce Center in Kyle and its Crossroads Logistics Center in Manor. “We have 380,000 square feet delivering in Kyle at the end of this year, and 483,800 SF delivering in Q2 of 2022 in Manor. We have an additional 1.1M SF in planned developments at Crossroads Logistics Center,” says Bass. “We’re doing our best to meet the growing demand in Austin.” The report shows leasing is just as hot in Houston, where it totaled 11.8 million square feet in Q2, nearly twice the five-year quarterly average. JLL adds “72.3 percent of activity was either new to market or represented a tenant expanding its current footprint.” Vacancy in the Bayou City is dropping as rents increase and the report predicts a new record for absorption in Q3. Up I-45 in Dallas, vacancy is holding around 7 percent, while asking rent increased. Shoults bills the industrial sector as strong and competitive across all fronts. “Tenant demand is strong and we are on pace for a record-setting year for netpositive absorption,” he says, adding that mid-year absorption was about 19 million square feet, which equaled a good year of absorption historically in DFW. “Capital demand on the ownership side is equally as strong as new investment groups are looking to place money in DFW industrial and the current players have substantial capital to deploy.” Population growth and corporate relocations are helping set those records, according to Shoults. Continued on Page 26>
CONTENT PARTNER
Discover Groundbreaking Possibilities In Anna With its location in northern Collin County along U.S Highway 75, State Highway 5, and State Highway 121 and a population boom of 1,396% since 2000, Anna remains one of the fastest-growing cities in North Texas. Breaking New Ground Anna offers an “open for business” culture, with a strategic plan focused on economic development and a permitting process that averages two days. Over the last two years, Anna added 40 new businesses with over 160,000 square feet of commercial real estate construction.
Pioneering the Future of North Texas Anna’s prime location, low cost of living, lifestyle amenities and excellent schools make it an easy choice to realize the vision of your company and offer your employees an exceptional quality of life. Anna is a city that starts with yes, and we want you here.
This past year, the Walmart-anchored Anna Town Center welcomed restaurants like Panda Express, Chick-fil-A, and Starbucks. In addition, a 24,000 square-foot Surgery Center of North Texas and Anna’s first 24/7 emergency room were completed. Continuing this momentum, a new 37,000 square-foot Municipal Complex is underway, and a recently passed bond package is slated to bring a library, second fire station and sports facility. In addition, the Anna EDC purchased land for a business park, which offers the benefits of flat land, already-integrated utilities and rail access via DGNO|Railroad. Building a Place to Grow With more than 1,200 permits issued so far in 2021, Anna is attracting a range of builders and a diverse mix of residents. In addition to The Villages of Hurricane Creek, which broke ground this spring and includes more than 1,900 single-family homes and townhomes, Megatel and DR Horton are developing over 600 acres of single- and multi-family residences.
Big dreams are built here. Situated on U.S. Highway 75, Anna is the next natural stop on the northern expansion of the Dallas-Fort Worth metroplex. With competitive real estate prices, affordable housing and excellent schools, Anna offers you and your business a place to succeed. • EDC owns an 85-acre Business Park with rail access and infrastructure • 61-square-mile planning area
ANNA
• 5 major highways intersect near Anna
75
• Top 10 fastest-growing cities in North Texas for 3 consecutive years
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• 45 minutes from DFW International Airport Plano
For more information: Joey Grisham Director of Economic Development 214-831-5394 joey@opportunityannatx.com
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DALLAS
From the ground up: Levey Group rises to challenge of unprecedented industrial market BY BRANDI SMITH
Left: Business Center at Five Corners. Right: East Sam Houston Business Park
Powered by an entrepreneurial spirit, Houston’s Levey Group is seizing the moment for which it has prepared for nearly 40 years. When real estate visionary Gustave Levey, affectionately known as Gus, founded the company in 1982, he had no way of predicting the ebbs and flows of the industrial market building up to what it is today. “He was one of the pioneers of the industrial real estate development business in Houston, having begun building to-suit, single-tenant manufacturing facilities for lease,” says David Ebro, Levey Group president and Gus’s grandson. “Manufacturing companies often had no leasing options because the institutional developers focused almost exclusively on warehouse and distribution space.” The Levey Group has never been afraid to bet on a dark horse. As the company evolved, so too did its projects. Appreciating flexibility and avoiding formulaic thinking, its team often recognizes values others overlook. “Over the years we have developed buildings for sale, and built-to-suit for lease both, on a stand-alone basis, and within our business parks. We have
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also redeveloped functionally obsolete buildings, and made collateral-backed opportunistic loans,” says Ebro. “We have carried this entrepreneurial philosophy into our land development business by acquiring parcels that are often overlooked because of some functional challenge, be it a lack of utilities, floodplain issues, pipeline crossings, etc.” That approach has helped strengthen the Levey Group into what it is today: a general partner for real estate development ventures with experience in value-add investment, joint ventures, high-yield loans and, of course, development. “We are on pace to set record levels of absorption in the Houston industrial market this year,” says David Ebro, the company’s president. In his almost two decades in commercial real estate, Ebro says he’s never seen the industrial sector so strong. He says that fire is fueled by a perfect storm of market conditions. Continued on Page 18>
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Harvey Builders Harvey | Harvey-Cleary builds the spectrum of industrial facilities – light and heavy manufacturing, warehouse, distribution, cold storage, telecom, and flex offi ce. DELIVERING THE GOODS Value means something a little diff erent to everyone. For owners and developers doing industrial buildings, it most often comes down to cost and commitment. Harvey | Harvey-Cleary guarantees both. We build the spectrum of industrial facilities – light and heavy manufacturing, warehouse, distribution, cold storage, telecom, and fl ex offi ce. Regardless of type, we know budgets are fi xed. This is why Harvey will commit to a project cost even before drawings are complete. Our value comes from doing the legwork to understand all owner requirements and allocating the budget accordingly. PARTNERSHIP We also partner with architects to help determine the best type of construction based on building usage. Harvey was the fi rst commercial builder in Houston to do tiltwall construction and we pioneered new methods to evolve tiltwall to what it is today. Harvey has since completed tiltwall projects across Texas and the northeastern United States, including the largest tiltwall project in the world, a 4-million SF manufacturing facility for Daikin Industries. Whatever the construction type, the trademark Harvey quality is evident. Though industrial may imply a cold, sterile environment, many of our projects include high-end lobby and offi ce spaces. Every material we source, for interiors or the façade, is chosen to refl ect the quality our clients represent.
ONE TEAM FROM CONCEPT TO COMPLETION As with every project we do, we assign one team to the project from concept to completion. That budget we gave before schematic design? The same team is responsible for it at substantial completion, post-occupancy, and throughout the warranty period. The same team that developed the schedule during preconstruction must adhere to it through closeout. Your fears are our responsibility; our single source team approach reduces your risk. The same team safeguarding the budget and schedule are the same people who will walk the building prior to completion, and the same people who will come back until every item on the punchlist is addressed. These same people will also come back once the building is in use. Industrial buildings take a beating, as they are designed to do. We build them to last; during warranty or not, Harvey is committed to ensuring our clients’ success in the buildings we build.
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“The pandemic pushed product out of retail stores and upstream into warehouse and distribution space, accelerating what was already a very rapidly growing sector of e-commerce, and driving demand for industrial space.” and Jobs Act under the Trump administration, and apparently continuing with the Biden administration's proposed stimulus packages,” he adds.
Levey Group < Continued from Page 14
“The pandemic pushed product out of retail stores and upstream into warehouse and distribution space, accelerating what was already a very rapidly growing sector of e-commerce, and driving demand for industrial space,” he explains. At the same time, retail, office and hospitality sectors have fallen out of favor with institutional capital providers, helping capital inflows into industrial reach what Ebro calls “unprecedented levels.” “That excess liquidity is compounded by both the federal reserve’s loose monetary policy, and the stimulating fiscal policy dating back to the Tax Cuts
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Ebro stresses challenges do exist, such as supply chain issues, labor shortages and increased raw material prices.
“There's a confluence of factors that are contributing to an inflationary environment. It’s challenging on both on the raw material and the land prices side. They’re rising together,” he says. “We have every reason to expect that warehouse rental rates will begin to reflect these rising prices as developers strive to maintain yields.”
Those obstacles aren’t enough to keep the competition out. Developers and investors of other asset classes such as office and retail have begun jumping into the industrial ring. David cautions that “aspects of industrial development require specialized knowledge, and industry relationships are critical to the success of an industrial development.” Ebro also says that traditional institutional providers are likely to “prefer to invest with project sponsors with a track record and experience in the industrial sector like the Levey Group has over a sponsor that lacks this experience.”
IBC Technologies, Crane Worldwide International, Tyndale, and DoorScapes. Ebro offers Levey Group’s Sam Houston Business Park in northwest Houston as an example of a modern tenant mix. “The four-building, 286,000-square-foot project features tenants driven largely by the growth in the Houston population. Our tenants ranged from an auto part distributor and construction materials supplier to an engineering company and custom uniform manufacturer,” he shares. “We also had an oil and gas company for which we built a state-of-the-art laboratory.”
Experience is something Levey Group has plenty of. Its team is always looking for the next big project. At this moment they have under construction The Business Center at Five Corners, a five-building project totaling 541,946 square feet, located on Beltway 8 South between Post Oak and Hiram Clark. The new 43-acre, Class-A business park will be a great fit for single and multitenant configurations. The project boasts more than a half-mile of Beltway 8 frontage, 52-foot-wide column spacing and clear heights ranging from 28-32 feet.
Additionally, Levey Group will soon announce more details about its upcoming East Sam Houston Business Park located at the intersection of Beltway 8 East and S. Lake Houston. The 67-acre, master-planned business park will accommodate up to 1,000,000 square feet of warehouse space.
“The southwest Houston market has demonstrated robust tenant demand,” says Ebro.
For more information about East Sam Houston Business Park, the Levey Group or any of its other projects, visit leveygroup.com or reach out to David Ebro via email at debro@leveygroup.com.
Those tenants, he adds, have diversified right along with the Houston economy. No longer are Levey Group projects occupied entirely by oil-andgas-related businesses. The company boasts non-oil and gas specific tenant relationships with companies such as Ringers Gloves, Brandt Engineering,
“East Sam Houston Business Park is in the design development phase, but we have penciled in about 1,000,000 square feet that we will be excited to announce in the near-future,” Ebro says.
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New residential communities spur increased commercial land opportunities in Willis BY BRANDI SMITH
“The Woodlands has become a corporate hub with all the big players.”
That’s the setting for Chambers Creek, Caldwell’s newest 1,200-acre active adult community in Willis, TX offering 4,000 homes to those age 55 and better. The premier 55+ community, which will be the largest of its kind in the Houston area, features amenities such as a golf course designed by Tom Lehman, a marina connected to Lake Conroe, miles of hiking and biking trails, and so much more. Peter Barnhart
It doesn’t take much of a drive to escape out of the fourth-largest city in the U.S. and head into nature. “Heading just north of The Woodlands, there is absolutely beautiful, rolling topography,” says Peter Barnhart, Executive Vice President and Partner at Caldwell Companies.
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Travis Smith
“It's the prettiest piece of property we've developed in Houston,” says Barnhart. “It has a 20-mile view from a hill that looks out over Lake Conroe. It’s loaded with lakes. We're creating a lifestyle like I've never seen in Houston, and we’re anticipating more of a national draw.” Being the largest active adult community developer in this region for over 15 years now, Caldwell has a passion for providing housing designed specifically for those 55 and up. Looking at the tract, he says it checked all the boxes of a great site, but the biggest selling point was the spectacular location. Not only does the site have great access to Interstate 45, it is also located right in the path of growth. The Conroe/Willis area is one of the fastest growing cities in the country. Conroe’s population has more than doubled since 2000 according to the Conroe Economic Development Council. In addition to Chambers Creek, there are several other communities coming to this corridor. The growth and addition of more rooftops in the area is making commercial land opportunities in Willis a hot commodity, says VP of Brokerage, Travis Smith. The major spike in growth is also attributed to the ongoing expansion of SH 242 and the Grand Parkway (99). Accessibility is a major factor in determining whether a development will be successful. We continue to see huge potential along this corridor. “I grew up in Montgomery County and I’ve seen a lot of change over the past 30 years,” Smith says. “The Woodlands has become a corporate hub with all the big players, including all the major hospital systems – so it’s only natural the Conroe/Willis would reap the benefits of that.”
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There are a lot of people who want to live, work and play in Montgomery County right now,” Barnhart says. “It’s a great opportunity for commercial players to get in early.”
“ It’s a premium area with premium demographics. This is really one of the most prime commercial sites in the north Willis market.” That’s why developable property in the area is as hot as it’s ever been. Caldwell has a prime listing of 30 acres along the I-45 frontage road, which already has City of Willis utilities connected.
it's not your typical opportunity zone area. It’s a premium area with premium demographics. This is really one of the most prime commercial sites in the north Willis market.”
“This site is one of the only places where you have the frontage access and the high visibility to do really a variety of uses,” says Smith. “Retail could be really strong. Medical would be good fit. So would multi-family, office or storage. The property can be used in so many different ways. That's one of the reasons we liked the site so much.”
In addition to being in an opportunity zone, Montgomery County will pass a no-new-revenue tax rate, which means property taxes will remain the same as the last fiscal year. According to Judge Mark Keough this will be the third consecutive year that the county has worked to keep property taxes stable. The message from the team at Caldwell is simple: get in while the getting’s good.
The tract at the intersection of I-45 and Calvary is not even a mile from the future main entrance of Chambers Creek, meaning not only will 4,000 future residents will pass by it daily, but an additional 48,000 vehicles per day pass along that section of I-45. It also presents a unique incentive for investors: the site is located in an opportunity zone. “For people who have a long-term development horizon, there's a great opportunity to defer capital gains on the site,” Smith says. “At the same time,
“The values are just going to continue to increase in the area. We're already seeing that happen,” says Smith. “There are so many users and developers looking in this area, so we’re going to see prices continue to increase when we have the growth coming behind it.” For more information about Chambers Creek or the 30-acre property at Calvary & I-45, contact the Caldwell Companies team at (713) 690-0000.
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Leading Ladies: REDnews celebrates women in commercial real estate BY BRANDI SMITH
“Always be curious. Align with mentors who model what you value AND a sponsor. You are the company you keep; surround yourself with ethical A-players.” This month, we are celebrating women in commercial real estate. REDnews connected with some female CRE leaders to gain insight into their successes and get their lessons for future generations. LEARN & GROW When Teresa Shell began her CRE career as a consultant with Ernst & Young, she made one request: that the company pay for her to complete her CCIM courses. “I really wanted that educational base,” says Shell. “My degree from Texas A&M was wonderful, but when you have practitioners teaching real-life scenarios, that’s when you really learn.” Now managing director of Shell Real Estate Services, Shell serves clients in commercial brokerage, investment analysis, acquisition/disposition and development of commercial real estate properties, primarily focusing on institutional grade multifamily site selection and development. She also serves as the 2021 president of the Central Texas Commercial Association of Realtors (CTCAR). “I credit a lot of my commercial real estate career to a very strong education,” says Shell. Knowledge is also something Edna Meyer-Nelson says is a key to her own success. The founder, president and chief executive officer of The Richland Companies, graduated from Southern Methodist University and followed up with postgraduate degrees from the University of Houston and University of Colorado.
Barbi Reuter
“Listen and you will learn more,” she says, adding that listening will also help you know when to act and when to wait. “Patience can be your best ally." NETWORK & CONNECT The opportunity to learn is one of the benefits of joining a networking organization, of which there are many in the commercial real estate industry. “All of those organizations have a meaningful purpose,” says Lucy Billingsly, founder of Billingsley Company. “When you're in smaller groups, I think you can learn a great deal.” One popular organization, which now boasts more than 12,000 members nationwide, is CREW (Commercial Real Estate Women). “CREW is an investment in yourself and others, and the payback comes from your engagement and connections,” says Barbi Reuter, CREW’s 2021 president-elect. “There’s stellar career and professional growth for early and mid-career professionals.” Reuter, CEO & principal with Cushman & Wakefield | PICOR in southern Arizona and Sonora, Mexico, says her involvement with CREW afforded her many opportunities, which are also there for anyone who avails themselves.
LISTEN & RESPOND
“I had a chance to lead my Tucson chapter and build leadership skills, connect with brilliant professionals in multiple disciplines and markets, and be mentored when I needed it the most,” Reuter says. “At one turning point in my career, my CREW mentor guided me to quantify and sell my value at a time when my partners didn’t understand what I did and why it was important. Women often expect others to recognize their achievements and are raised not to toot their own horns. We’ve got to stand up for ourselves and each other.”
You can’t learn if you don’t listen, stresses Shell.
Networking, points out Meyer-Nelson, is vital to anyone’s success.
“I always strive to listen to hear vs. listen to speak. That’s critical when you’re in a client-based business,” she says. “If you’re not listening to your client, you can’t figure out what they want and what they need.”
“I’d encourage women and men to join professional organizations and make connections to build and develop relationships with their peers,” she says. “You can never know too many people in your chosen field of work.”
Shell cites a client who was out over his skis a bit. Listening to his needs and what he perceived as his goals, she was able to advise him and, in the end, protect his investments.
MENTOR & BE MENTORED
“Learn as much as possible,” she advises. “All experiences, including former positions and employment, can help you succeed not only daily, but in life.”
“He’s now been a client of mine for decades,” says Shell. Meyer-Nelson echoes the importance of listening.
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Several of the women with whom we spoke attributed their success to knowing when to ask questions and from whom to get answers. As an example, Shell shares the story of when she was young, trying to raise a level of capital that was a first for her.
“I’m delighted by all of my awards, but I’m incredibly proud of the HBJ Landmark Lifetime Award I received in 2017. I’m the first and only woman to receive the award so far.” Edna Meyer-Nelson
“I knew enough to know I needed to have a really strong mentor,” she says. She reached out to Claudia Faust, whom she’d met at a past industry event. Faust, who’s co-founder and managing partner of Hawkeye Partners, advised Shell on the best path forward. “The fact that she was female makes it even more amazing,” says Shell. “She is one of several mentors I’ve had in my career. I’ve always been able to reach out to someone and say, ‘I’m working with this client who wants X, Y and Z. What’s the best way to make that happen?’” Having earned success, those who were once mentored can become the mentor. “For those in a position to pay it forward, I can’t think of a more rewarding way,” Reuter says. Meyer-Nelson takes pride in her commitment to mentor and teach the next generation of women coming up in commercial real estate.
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“When someone hears my name, I want them to think of me as someone who encourages and pushes others to succeed,” she shares. PRIORITIZE & LEAD Becoming a leader doesn’t always mean saying yes to everything. It often involves prioritizing what is most important and pursuing that. Billingsley, who got her start at the Dallas Market Center, transitioned to mainstream commercial real estate later in her career. By that time, she had four children and knew her networking opportunities would be limited as a result. “I don’t play golf. I don’t go have drinks after work. My socializing and meeting people in the industry was through business meetings,” says Billingsley. It took a battle with Stage 4 cancer for Shell to really start prioritizing what mattered. “You have to focus on your health and your time,” she says. “I made a very conscious decision to restructure my life. You have to make your life count because you only have one.”
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“We are quickly on our way to becoming a billion-square-foot industrial market to put us on par with the industrial markets on the coasts.” Industrial
< Continued from Page 12
“We continue to see strong activity from out of state companies looking to either move to Texas or establish a presence here,” he says. “The slowdown from COVID was short lived for the industrial market, and COVID only expedited the need for companies to have increased online sales and warehousing.”
coasts,” he adds. “The population and job growth are real, and despite a very active development community, absorption is keeping pace with new construction for a relatively low vacancy rate.” The Texas business climate will continue to lure businesses to relocate, driving up the population, as well as demand for industrial space in the Lone Star State.
In fact, he says tenants came out of the metaphorical COVID shutdown gates running, pursuing space with increased urgency. “With the overall DFW vacancy rate around 6 percent and some submarkets as tight as 3.5 percent, tenants are having to make quick decisions to secure lease space and pay record setting rates,” says Shoults. The only setback so far has been the impact shutdowns had on the construction side of deals. Shoults says price increases on all materials, especially steel, are affecting deal costs and rental rates. “TI jobs are also taking much longer due to lead times on materials,” he adds. In Austin, Cole notes the shutdown’s impact on retail provided a boost for industrial.
advertiser index Anna Economic Development Corp........................................................... 13 Billingsley Company..................................................................................... 25 Blazer Building Texas.................................................................................... 15 Caldwell Companies.................................................................................. cover
“We see retail taking smaller footprints and then adding a more industrial product to their portfolio to fill the e-commerce need that spiked throughout the U.S. during the pandemic,” he says.
City Development Corporation of El Campo.......................................... 5
It’s another layer of demand that, Cole believes, will sustain the Austin industrial boom.
David E Harvey Builders, Inc....................................................................... 16
“Compared to other large markets in Texas, the amount of industrial space in comparison to the population is grossly underserved,” he says. Bass predicts the market will expand in terms of square footage and geography.
Conroe Economic Development Council.................................................. 9
Frisco Economic Development Corporation............................................ 2 Lane Property Tax Advocates..................................................................... 10 Levey Group.................................................................................................... 3
“Five years ago submarkets like Manor, Buda/Kyle and Georgetown were not on the radar, but those municipalities have seen major growth recently and will continue to grow as Austin’s population does,” Bass explains.
McAllister Assets........................................................................................... 18
In Dallas, where a record of more than 32 million square feet of industrial space is under construction, Shoults believes the market will remain strong for the foreseeable future.
O.I. Management........................................................................................... 19
“We arguably have more room to grow as we play catchup to the other major industrial markets. We are quickly on our way to becoming a billion-squarefoot industrial market to put us on par with the industrial markets on the
Spear Minerals............................................................................................... 23
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National Environmental Services, LLC...................................................... 31
Phase Engineering......................................................................................... 20
The Real Estate Council - Greater Ft. Worth........................................... 22
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CMI BROKERAGE 820 Gessner, Suite 1525 Houston, TX 77024 P: 713.961.4666 Website: cmirealestate.com Key Contacts: Trent Vacek, tvacek@cmirealestate.com; James Sinclair, jsinclair@cmirealestate.com Services Provided: Central Management, Inc. is a full-service commercial real estate firm providing Brokerage Services; Property, Facility, Construction and Asset Management Services; Landlord and Tenant Representation; Land Sales; Receivership and Real Estate Recovery. Services are available for Industrial, Land, Multifamily, MOB, Office and Retail. Licensed in Oklahoma and Texas. Company Profile: Central Management, Inc. (CMI) was founded by Houston real estate professional Vic Vacek in 1978. Our team understands the intricacies of the markets that offer investors an edge both from a leasing and an asset management perspective. Certified AMO® 1984, IREM, CPM, CCIM, NAR, HAR, NALP, ICSC, and TREC. Notable Transactions/Clients: Armada Big Springs Ptnrs, Barbour Invts., Baytown ISD, Core Real Estate, Hoffpauir Estate, JLC Properties, KBR, Prudential, Rawson Blum & Leon, Subway, Texas Hearing Institute, Triple Crown Invts., US Oncology, Vigavi Realty, Walgreens.
FRANKEL DEVELOPMENT GROUP 5311 Kirby Drive, Suite 104 Houston, TX 77005 P: 713.661.0440 Website: Under Construction Key Contact: Bruce W. Frankel, President, brankel@frankeldev.com Services Provided: Frankel Development Group offers over 33 years of experience and expertise in the retail real estate business. Services include tenant representation, shopping center/project leasing, investment sales, land sales, and development services. Company Profile: Headquartered in Houston, Frankel Development Group provides comprehensive brokerage services for its clients throughout Texas with an emphasis on the Houston MSA. The company represents over 25 "best-in-class" retailers and restaurants, 15 property owners, and possesses a skillset and depth of experience unmatched in the marketplace. Notable Clients/Transactions: Notable retailers include Orangetheory Fitness, Burkes Outlet Stores, UBREAKIFIX, Escalante's Fine Tex-Mex & Tequila, Three Dog Bakery, Fred Astaire Dance Studios, Pump it Up, WaveMax Laundry, and Rush Cycles.
FRIEDMAN REAL ESTATE 34975 W. Twelve Mile Road Farmington Hills, MI 48331 P: 888.848.1671 Website: friedmanrealestate.com Key Contacts: David B. Friedman, President/CEO; Gary Goodman, Sr. Managing Director-Brokerage Services Services Provided: Friedman offers a full range of real estate services including commercial and multifamily property and asset management, tenant and landlord representation, investment and loan sale advisory, space planning, design and construction and a unique platform of lender-focused bankruptcy, receivership and distressed asset services. All services are provided in-house, though a single point of contact, which guarantees that clients receive the most timely and efficient service available in the marketplace. Company Profile: Founded in 1987, Friedman Real Estate is one of the largest privately held commercial real estate organizations in the nation; currently managing over 15M SF of commercial space and more than 15,000 apartment homes located throughout the country. Friedman’s commercial brokerage team has over 800 current listings with $20 billion in closed transactions. Notable Transactions/Clients: Over $800M in transaction volume including some of the largest individual sale and lease deals recorded in 2020.
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OCTOBER 2021
CONSTRUCTION COMPANIES/GENERAL CONTRACTORS ALSTON CONSTRUCTION COMPANY 1300 W Sam Houston Pkwy S, Suite 225 Houston, TX 77042 P: 713.904.2899 10440 North Central Expressway, Suite 720 Dallas, TX 75231 P: 214.363.0551 Website: alstonco.com Key Contact: (Houston) Nick Dwyer, Director of Business Development, ndwyer@alstonco.com (Dallas) Brittany Schneider, Director of Business Development, bschneider@alstonco.com Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects. Company Profile: Alston Construction is celebrating 35 years of excellence in 2021, and we believe our success comes from being a true partner. With 21 offices nationwide, we have market knowledge throughout the country, which provides clients with the best building methods and materials available. Our goal is to provide quality, cost efficient projects that leave a positive experience for our clients and their communities. Notable/Recent Projects: Park 249 - 817,920 square feet LEED tilt-wall warehouse facility park including interior finishes for Amazon in Houston, TX; McKinney National Business Park – 150,000 square feet warehouse/distribution tilt-wall facilities in McKinney, TX; Restaurant Depot – 59,565 square feet pre-engineered metal retail building with cold storage in Pasadena, TX; Valley View Lane Warehouse – 160,000 square feet warehouse/distribution facility in Farmers Branch, TX
CADENCE MCSHANE CONSTRUCTION 5057 Keller Springs Road Suite 500 Addison, TX 75001 P: 972.239.2336 F: 972.239.1214 Website: cadencemcshane.com Key Contact: Will Hodges, President, whodges@cadencemcshane.com Services Provided: Cadence McShane Construction Company offers over 30 years of experience providing design-build, construction management at risk, preconstruction and general construction services on a national basis. The rm’s diverse expertise includes specializing in the Education, Multifamily, Senior Living, Commercial and Industrial market sectors. Company Profile: Headquartered in Dallas, Texas with regional offices in Austin, Texas, Houston Texas, and San Antonio, Texas, Cadence McShane Construction Company provides comprehensive construction services on a local, regional and national basis for a wide variety of market segments. The firm is the builder of choice in the state of Texas and its surrounding region as it deploys a culture of relentless service with an entrepreneurial spirit that originates from inside of each individual and helps constantly deliver reliable results of excellence. Notable/Recent Projects: Hermosa Village Apartments –Leander, TX – 238 modern farmhouse inspired garden-style units, offering one- two- and three- bedroom options.
DEVELOPERS PROLOGIS 2021 McKinney Ave., Suite 1050 Dallas, TX 75201 P: 847.420.8321 Website: prologis.com Key Contact: Kate Rutherford, Regional VP, krutherf@prologis.com Services Provided: Prologis provides approximately 1,600 real estate professionals worldwide with extensive local market knowledge and development expertise to meet complex logistics and distribution requirements. Customers include third-party logistics providers, transportation companies, retailers and manufacturers. Company Profile: Prologis, Inc. is the global leader in logistics real estate with a focus on highbarrier, high-growth markets. As of September 30, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 797 million square feet (74 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,100 customers principally across two major categories: business-to-business and retail/online fulfillment.
NATIONAL ENVIRONMENTAL ENV ENVI RON RONM SERVICES Houston, TTexas • RRedlands, Hou dland California
A 360° APPROACH TO E N V I R O N M E N TA L SERVICES National Environmental Services, with offices in Houston, Texas and Redlands, California, is an environmental consulting company, established in 1995, that conducts a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround.
• Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13)
• RSRAs (Records Search with Risk Assessments)
•Transaction Screens (ASTM E 1528-06) • Phase II Subsurface Investigations* •Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency)
• Remediation and Corrective Activities* • Soil,Water, and Air Testing Services
• Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* * Performed in Texas in partnership with Terrain Solutions, Inc., Texas Geoscience Firm Registration # 50018
National Environmental Services 5773 Woodway Dr, Suite 96, Houston, TX 77057: Phone (281) 888-5266 700 East Redlands Blvd, Suite U618, Redlands, CA 92373: Phone (951) 545-0250 Toll Free: (833) 4-Phase1 www.nationalenv.com • www.gabrielenv.com
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