REDNews September 2017 by RE Journals

SEPTEMBER 2017

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Also Inside: Doing it right. Right now.

The Caldwell Companies way of doing business

Getting "loopy" in Texas

How likely is a hyperloop in the Lone Star State?

Lingerfelt Commonwealth and Avison Young Hit Houston’s Sweet Spot at 1700 West Loop South

Land trends with Land Advisors

A look at Texas’ three largest markets

RENOVATED

hotel fitness center common rooms

17700 HUFSMITH KOHRVILLE TOMBALL, TEXAS 77375

±9.89 ACRES ±253’ of frontage along Hufsmith Kohrville Road, with easy access to Highway 249 and the Grand Parkway via Hufsmith Kohrville

22235 I-45

SPRING, TEXAS 77389

±1.13 ACRES Two tracts of land, totalling ±49,476 SF, located in the southwest quadrant of I-45 and the Grand Parkway and less than two miles from the ExxonMobil Campus

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

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

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

NEC RANKIN ROAD & IMPERIAL VALLEY HOUSTON, TEXAS 77073

±1.61 ACRES Hard NEC of the fully lighted intersection at Rankin Rd. and Imperial Valley with detention and all utilities in place

25229 ODAY ROAD

PEARLAND, TEXAS 77581

±4.75 ACRES Located just north of FM 519/W. Broadway, site includes one curb cut and ±24’ of frontage along Oday Road

IN THIS ISSUE

16 28

Market

Scoop

Services

Features

Sales & Leases 1 -3, 7-9, 13-15, 17, 19, 21, 23, 25-27, 29-33, 52

Environmental Services 38, 51 Legal Services 49 Photography 25 Waterproofing Service 5

Events 36, 37, 40-45 Social 41, 43, 45 Bulletin 46-48

Doing it right. Right now. 10-12 Getting Loopy in Texas 16 Land trends with Land Advisors 18, 20, 22 Apartment Forecast 24 Business Planning Process 28 CIVIL FAIR PLAY Deal or No Deal? - Letters of Intent 34-35 RAY'S BUZZ CCIM Luncheon 36 O'Connor Land Forecast Luncheon 50 Roundabouts: Why we don't see them in Texas 50

September 2017

BEFORE

AFTER

Restoring your roofing system with Gaco Western-Firestoneâ&#x20AC;&#x2122;s Silicone Membrane is seamless, lowers roof temperatures up to 65 degrees, has a

50 year material warranty and is virtually the last roof your building will ever need. Tax Savings: Fully deductible year 1 No Tear-Off: No disruption to tenants below Installs Over: TPO, Mod Bit, Metal, EPDM

CONTACT: TOM DAWKINS

EMAIL: TOM@TDWATERPROOFING.COM

PHONE: 713-305-4511

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITERS

Dear Readers,

This month we spoke with land experts from Caldwell Company and Land Advisors about the Texas land market. It was interesting to note that these CRE professionals have focused strictly on land sales and development throughout their careers, never deviating to selling & leasing improved property even during the worst of times. In my humble opinion, that makes a bold statement about the strong backbone of these guys and my hat is off to them!

The big debate for quite some time has been about high speed rail in Texas and the legislature just passed two bills that ensured Texas taxpayers won’t pick up any cost for the train. The other bill requires adequate safety measures, plus Houston just approved the development of a passenger station for the railway. Elon Musk just got government approval for The Boring Company to build an underground pneumatic tube between New York & Washington, DC & is also proposing an underground “hyperloop” in Texas between Dallas, Houston, Austin & San Antonio which Brandi writes about on page 16. I’m betting we see above ground high speed long before we are boarding a tunnel train. It seems that navigating the Texas oil underground would be a daunting task even for Elon Musk. Next month we will be featuring the industrial, office & land markets & in November, we will be back in Dallas for the Texas ICSC conference. Have a fabulous Labor Day holiday! Best Regards,

Ginger Wheless

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

CONTRIBUTING WRITERS

Elke Laughlin Elke.Laughlin@laughlin-group.com

Michael Pavia pavia.michael.r@gmail.com

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

DATABASE MANAGER

Michelle Zygala marketing@REDNews.com

SALES

Ginger Wheless ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

REDNews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US. 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

TOTAL QUALIFIED REDNews DISTRIBUTION: 50,458 REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 5909 West Loop South, Suite 135 Bellaire, TX 77401

FOR SALE

Houston Grand Parkway Opportunity Kingland - ±4,077 Acres

The contract for construction of the Grand Parkway has been awarded by TxDOT and is scheduled to be open for traffic in Q1 2022.

Large Scale Site At ±4,077 acres, Kingland is uniquely positioned as a multi-phase development for a variety of uses or as three individual development sites. Additionally, it is one of the biggest undeveloped land parcels on the Grand Parkway and one of the last remaining large-scale parcels in Houston.

Excellent Access ±4.8 miles of frontage along the future Grand Parkway with four interchanges on site, creating 14 commercial corners within Kingland.

Entire Property

±4,077 Acres

West Section

±1,382 Acres

Central Section

±1,463 Acres

East Section

±1,232 Acres

FOR ADDITIONAL INFORMATION CONTACT:

Opened March 2016 Opened February 2016

Kingland ±4,077 Acres

DAVIS ADAMS

STERLING CURRY

(713) 852-3558 dadams@hfflp.com

(713) 852-3452 scurry@hfflp.com

Under Construction Contract Awarded 9 Greenway Plaza, Suite 700 Houston, Texas 77046 (713) 852-3500 | hfflp.com

Opened December 2013

Opened April 2008

KIRK LAGUARTA

DUANE HECKMANN

(713) 366-3373 klaguarta@landadvisors.com

(713) 366-3374 dheckmann@landadvisors.com

Opened August 1994 820 Gessner Road, Suite 950 Houston, TX 77024 (713) 647-7800 | landadvisors.com

Hwy 105 En

Lake Conroe, TX

b SF ila 0 va 50 A 2, ap C d le

Houston, TX

FM 1464 & Bellaire Blvd ap C le d lab En vai A

B ELLAIRE C ROSSING H o u s t o n , Te x a s

Hwy 290 & Jones Rd

Phillip Carameros

(832) 937-5900

ap l C a d dic En Me SF n 0 Ge 60 d 7, 2n &

Houston, TX

| phillip@gordonpartners.com

805 W Main St

Amarillo, TX

Bell St & SW 45th Ave

Houston, TX

HWY 249 & FM 1960

Kenedy, TX

Le as g

(832) 900-2269

t an ur le ta lab es i R Ava en r G o d ch 2n An &

r & le ho lab nc ai A Av or e ni it Ju d S Pa

Gary Phillips

| gary@gordonpartners.com

Doing it right. Right now. The Caldwell Companies way of doing business BY BRANDI SMITH

“It's the people,” says Jim Black, Caldwell’s Senior Vice President of Commercial Property Services. “It's really the associates I work with every day. It’s great people and a family-like environment.” “The culture and the people were just a perfect fit,” echoes Senior Vice President of Brokerage Services, Keith Edwards. “I've been with Caldwell going on 18 years and love it. I love every day of it.” Jim Black Sr Vice President of Commercial Property Services

Keith Edwards Sr Vice President of Brokerage Services

If you ask the professionals who work for Houston-based Caldwell Companies what initially drew them to the firm, one word universally comes up: culture.

The two industry vets, whose combined brokerage experience totals nearly 70 years, say Caldwell’s culture stresses integrity above all. “This is a faith-based company. We are proud of that and approach everything with a high degree of integrity and honesty,” Black says. “We always try to do the right thing all the time.” The company even has this as their mission statement - “Doing it right. Right now.” You will find it splashed across Caldwell’s website, but the staff say it goes far beyond that. “We have teamwork, we trust each other and we put relationships first,” stresses Edwards. “We treat each other with respect - the same respect we show to our clients is also how we treat our co-workers.” The company started in June 1990 as a partnership between John Nyberg and Fred Caldwell called Caldwell Nyberg Interests. The group focused primarily on industrial brokerage until Nyberg left. After successfully jumping into land brokerage, the company eventually added office brokerage, investment service, residential and commercial development.

September 2017

In 1997, Caldwell met his new partner, Chuck Watson, and formed Caldwell Watson Real Estate Group. The firm recorded incredible growth and established itself in the region. Now privately owned by Caldwell, the company is firmly entrenched in the

Houston, Woodlands and College Station markets and has been recognized many times in the community, garnering such honors as being ranked in the top five in a recent Houston Business Journal’s “Best Places to Work” list.

“We have teamwork, we trust each other and we put relationships first” - Keith Edwards Black and Edwards attribute much of Caldwell’s success to the corporate culture that drew them to the company in the first place. “In this business, it can be easy to take shortcuts or not go the extra mile. That’s not what we do,” Black explains. “We always do what's best and what's right for the client.” He adds that Fred and Susan Caldwell run the firm like a family business, stressing respect for employees and clients. “That’s unique in commercial real estate,” Black says. “You don’t see that often.” That team mentality trickles into every part of the business, according to Edwards. “My business unit is comprised of land specialists and we run it as a team,” he says. “We’re a team of brokers working together as one. That’s something

“It’s generally not a good thing for

residential developers, when you start quoting numbers in price per foot as opposed to price per acre” - Jim Black

else you don’t see very often in the industry and we feel strongly that this is a win for our clients.” In fact, the company has its own definition of TRUST and WIN. TRUST breaks down to teamwork, relationships, urgency, service and training. While a WIN for Caldwell is all about work ethic, integrity and an “n’creativity” approach to projects. Though he’s spent nearly two decades at Caldwell, Edwards got started in real estate right out of college. He dove into the industry at the ripe old age of 21. Now, almost 40 years later, he’s going as strong as ever with no plans to call it quits any time soon. “Ninety percent of that time, I was selling raw land,” he explains. “In the late '70s and early '80s, I did some industrial, but my primary focus has always been commercial land and farm and ranches.” Black, meanwhile, logged more than 23 years with one of the largest industrial development companies in the country before joining Caldwell five years ago. In that time, he’s worked on major projects such as Bondesen Business Park, Northwest Point Industrial Park and Beltway 8 Office Center. Caldwell concentrates on projects in suburban North, Northwest and West Houston, as well as The Woodlands area, outlying counties and the College Station area. It’s a market the company knows well, especially since many of its employees, including Black and Edwards, live there. “It’s been nice watching Houston grow this direction,” says Black, who calls Cypress home. “The area has drawn great restaurants, entertainment venues, concerts and almost anything else you can think of. The population growth is tremendous.” Black and Edwards share a love of golf, but Edwards says other hobbies include trying new restaurants and fishing.

“You can do all of that right here in Northwest Harris County,” he says. Though Edwards has lived in the Klein area for the past 35 years, he’s about to join Black in Cypress. His family is making a move to Towne Lake, a Caldwell master-planned community at the corner of Barker Cypress and Tuckerton Road. When the 3,000-home Towne Lake is complete, it will cover 2,400 acres, 300 of which are dedicated to Houston’s largest private recreational lake. Towne Lake also offers mixed-use and commercial development, such as a boardwalk, marina, amphitheater, grocery store and more. Working in the industry as long as they have, Edwards and Black have both seen the highs and lows of the land market cycle over the years. As Black puts it, the market is on or off; there really is no in-between. “We've been fortunate for the past five years. It’s been a great market,” he says. “But we also look back and remember the pain we went through back in ‘09 and ‘10 when the market was absolutely shut off.”

Right now, Edwards says, the land team is taking advantage of this strong market while also making plans and building relationships to be prepared for when the market might slow down again. “There’s always a little bit of concern about what could happen and when,” Black adds. As they watch for big changes in the market, they’re also keeping an eye on current trends. Population growth, they say, continues to push west and northwest of Houston. “I don’t see that trend stopping any time in the near future,” says Black. “We're fortunate to be right in the middle of it.” The challenge for the Caldwell team is finding large tracts that have, or can easily get, utilities that are ready for development. Edwards calls those pieces of property “few and far between right now.” “What you're finding is that some master-plan developers are coming in and buying land, but then they’re having to create their own MUD. It’s going to take at least a year, possible two to three years, for the MUD to come online,” he explains. Continued on page 12 >

< Continued from Page 11

“That’s one of the advantages that Houston has. On the west side and north side of town, there is no shortage of land” - Jim Black

That hurdle is creating concerns about affordability as parcels fetch more than ever. “Large land tract price per acre is increasing dramatically. It was $20,000, then it was $25,000. Soon it was $40,000, $50,000, $60,000 and now $70,000,” Edwards says. “We're definitely seeing a price increase, but if the water and sewer is readily available or close or nearby, they can make those numbers work.” “It's generally not a good thing for residential developers, when you start quoting numbers in price per foot as opposed to price per acre, but we’ve seen that. It’s gone over $1 per foot in a lot of these locations,” adds Black. “That’s a challenging price point for them to put in the infrastructure and sell lots to builders at the right numbers for the eventual home owners.”

Though that’s a move away from large, masterplanned communities, those projects are still a big piece of the Houston market. “That’s going to continue in the outlying areas, out beyond Katy, Fulshear and Waller,” Black says. “The Grand Parkway has been the game changer. It’s making accessibility to The Woodlands, Katy and all parts of the city tremendously easier. I think that's having an impact on both residential and commercial businesses out here.” Black compares the Grand Parkway’s expansion into the northwest corner of Houston to the opening of Beltway 8 about 15 years ago. “I worked on some pretty major new industrial investments back then and I think, at that time, some of the brokers we dealt with thought we were nuts,” he laughs. “We felt like that was going to be a good market. Obviously a huge roadway like that is eventually going to get filled up with cars, and it did.” “I think you’re going to see more commercial and residential development with the Grand Parkway opening up,” Edwards predicts. Black expects the same outcome for the Grand Parkway and predicts a loop beyond it will undoubtedly be built decades from now.

Caldwell’s experts say they’ve seen a shift in the market in which developers are buying smaller tracts, usually between 15 and 20 acres. Though the price is a bit higher, the property typically comes loaded with utilities, making for an easy conversion to a smaller subdivision. 12

September 2017

“We're just going to continue to expand and grow. That's one of the advantages that Houston has,” says Black. “On the west side and north side of town, there's no shortage of land.” No shortage of land means the team at Caldwell Companies will stay busy, “doing the right thing, right now” to ensure healthy and happy relationships with their clients and continued success brokering and managing land transactions.

17OO WEST LOOP SOUTH

Full Floor Availability Integrated with newly renovated Marriott Hotel 16,000 SF state-of-the-art conference center Upgraded training/fitness center On-site management and engineering Adjacent to new development, The Post Oak - a 10 acre conference center, hotel, and restaurant complex Multiple ingress and egress points to San Felipe, 610, and Post Oak Blvd Recent high-end renovations to common areas Doug Pack, Principal 713.993.7173 doug.pack@avisonyoung.com

Sam Hansen, Principal 713.993.7174 sam.hansen@avisonyoung.com

Scott Fikes, Vice President 713.993.7155 scott.fikes@avisonyoung.com

Cypress

Katy

NORTHEAST HOUSTON’S PREMIER RETAIL EXPERIENCE NORTHEAST HOUSTON’S HOUSTON’S PREMIER PREMIER RETAIL RETAIL EXPERIENCE EXPERIENCE NORTHEAST

SHOPPING + DINING + ENTERTAINMENT + HOSPITALITY + OFFICE + MULTI-FAMILY SHOPPING + DINING + +ENTERTAINMENT HOSPITALITY+ OFFICE + OFFICE + MULTI-FAMILY SHOPPING + DINING ENTERTAINMENT ++ HOSPITALITY + MULTI-FAMILY

15 MINUTE DRIVE TIME 15 MINUTE DRIVE TIME

164,531

$83,017

1.5+ M SF

Retail & 1.5+ M SF

Population 164,531

Average $83,017 Average Household Household Income

Retail & Mixed-Use Mixed-Use

Population

Income

120K Daily Traffic Count

COMING SOON

COMING COMING SOON SOON MULTI-FAMILY MULTI-FAMILY MULTI-FAMILY 552 units 552552 units units

VALLEY RANCH

VALLEY RANCH RESIDENTIAL

VALLEY RANCHBUILT OUT RESIDENTIAL COMPONENT COMPONENT BUILT OUT RESIDENTIAL COMPONENT BUILT OUT

FUTURE AMPHITHEATER FUTURE 12.5 ACRES

AMPHITHEATER FUTURE 12.5 ACRES

NAILS OF AMERICA

NAILS OF AMERICA LIN’S CHINA DINER

NAILS OF AMERICA

LIN’S CHINA DINER

10 MINUTES TO THE WOODLANDS

LIN’S CHINA DINER

10 MINUTES TO THE WOODLANDS

AMPHITHEATER 12.5 ACRES NCISD TEXAN DRIVE STADIUM

NATATORIUM

NCISD TEXAN DRIVE STADIUM

ED RINEHART SPORTS COMPLEX

NATATORIUM

Now Leasing Now Phase 3

Now Leasing Leasing3 Phase

15 MINUTES TO BUSH INTERCONTINENTAL AIRPORT

336

45 The Woodlands

Porter

AY KW

Spring

ROA TOLL

Cypress

The Woodlands 290

A R G

610

W RK

Kingwood

Airport

290

Katy

610

69/59

69/59 Downtown Houston

Bush IntercontinentalBush Intercontinental Airport D

Katy

249

AD LL RO Y TO

249 290

Spring

ROA TOLL

10 Cypress

Porter

Spring

HA RD

Katy

Cypress

AY W RK

G R A

W RK

D PA

HARDY

G RAN

Tomball

New Caney

Porter

Y WA RK

New Caney Town Center D PA GRAN

Kingwood

Bush Intercontinental Airport

The Woodlands

69/59

Valley Ranch 249 Valley Ranch Town Center 45 D

Tomball

AY W RK

HARDY

G R A

336D PAR

15 MINUTES TO BUSH INTERCONTINENTAL AIRPORT

New Caney D PA GRAN

Tomball

15 MINUTES TO BUSH INTERCONTINENTAL AIRPORT

Valley Ranch Town Center

Kingwood

90 8

610

Kevin Layne Downtown Houston

ED RINEHART SPORTS COMPLEX

NCISD TEXAN NATATORIUM DRIVE STADIUM

OUR RETAIL HAS THE EDGE

Phase 3

J o i n t h e l i n e - u p o f l e a d i ng n at i o n a l te n a n t s i n t h i s 2 4 0 - a c re m i xe d - u s e p roj e c t st r ate g i c a l ly d e s i g n e d a n d l o c ate d to e n h a n c e t h e ex p e r i e n c e o f s h o p p i ng a n d d i n i ng. Regional entertainment and civic destinations, including multiple sports complexes, a planned world-class amphitheater and 100 acres of public lakes and parks add to the project’s competitive advantage. Great retail is not just a power center. r et ahtthe s-up l o cof a tfi leading on t ’isng anational n enxat p eiroi en nacle , te i ts’ns in a nt chacre hi sTo2mixed-use w4n0C t e r .m J o i nG e r eltialine ni le i- u p o l e, aid aVa n this tl lse yi R n - aecnre i xe d - ustrategically s e p roj e c t Join tenant 240project

O UOU R R L HH AASS TTH E E D GEE RERTEATIAIL HE EDG

designed st r ate g i c a l ly and d e s i glocated n e d a n dto l oenhance c ate d to the e n h aexper n c e ience t h e exof p e rshopping i e n c e o f sand h o p pdining. i ng a n dRegional d i n i ng. R e genter i o n atlainment e n t e r t a iand n m eciv n t ica n destinations d c i v i c d e s t, i nincluding a t i o n s , i nmultiple c l u d i n g spor m u lttsi pcomplexe l e s p o r t s , c oa mplanned plexes, s so ramphitheather of0 0public a p lworld-cla anned w l d - c l a s s a m p hand i t h e100 a t e r acres and 1 a c r e s lakes o f p uand b l i cpark l a kse sadd a n dto pthe a r k sproje a d dc tt’so ret ret t h e compet p r o j eitive c t ’ s advant c o m paege. t i t iGreat ve ad v aail n tis a gnot e . just G r e aa tpower r e t acenter. i l i s nGreat ot ju s tailais plocation, o w e r c eitn’st ean r. G r eexper a t r eience, t a i l i sitl’so cValley a tDi EoVnER ,LOanch i Pt ’MsE NaTown n BY e x pCenter. e r i e n c e , i t ’ s Va l l e y R a n c h To w n C e n t e r . A T

Jay Young

Downtown Houston

Senior Associate

713-452-1720 klayne@signorellicompany.com

Kevin Layne Kevin Layne

Associate

SignorelliCompany.com

PMEN AADDEEVELO V E LO P M E NTT BY BY

Senior Associate

Jay Young Jay Young Associate

Senior Associate

Associate

713-452-1720

713-452-1720 klayne@signorellicompany.com klayne@signorellicompany.com

713-452-1721 jyoung@signorellicompany.com

SignorelliCompany.com

713-452-1721 713-452-1721 jyoung@signorellicompany.com

jyoung@signorellicompany.com

Getting "loopy" in Texas How likely is a hyperloop in the Lone Star State? BY BRANDI SMITH

Before you write the idea off as science fiction, Elon Musk - the man behind Tesla and Space X - is promising to make it a reality. The billionaire entrepreneur who’s already changed how we approach auto and rocket travel now seems to have his sights set on this new mode of transportation.

Imagine being able to make the trip between Houston and Dallas in 30 minutes. We’re not talking about a super-speed flight or even a high-speed train. It would take a hyperloop, a pod traveling at supersonic speeds through a series of pneumatic tubes, to make it happen.

September 2017

In late July, Musk wrote a series of tweets, starting with, “Just received verbal gov't. approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins.” He went on to explain that this was a very preliminary step, but encouraged supporters to reach out to their local leaders. When one of his followers asked Musk if Texas is part of his plans, his response was “For sure. First set of tunnels are to alleviate greater LA urban congestion. Will start NY-DC in parallel. Then prob LA-SF and a TX loop.”

Before those concerns can even be addressed, there is a more pressing one: technology. Though the concept of a hyperloop has been floated by several different organizations, Musk’s included, teams across the country are still working to develop a sustainable approach to a hyperloop. At the end of last month, for example, two teams from the University of Texas (including Guadaloop) submitted their ideas in Space X’s Hyperloop Pod Competition II, where groups from all over the world raced their hyperloop pods to test efficacy. While the fledgling technology is there, many experts predict it could take a decade or more before all of the

While the goal may be there, its feasibility may be more of a challenge. Over the years here in Texas, many people have pitched plans to build high-speed trains that would speed up the travel between the Lone Star State’s largest cities. As yet, none of those plans have materialized on the ground. An obvious issue that crops up revolves around private property rights and eminent domain. A series of tunnels large enough to transport thousands of people each day would require significant amounts of land. Though the tubes would be underground, initial construction would necessitate above-ground disruption. That brings up the matter of mineral reserves. An extensive network of underground tunnels and tubes would have to navigate a challenging Texas landscape dotted with oil reserves and other resources. Careful consideration would need to be given throughout construction to preserving those.

kinks are ironed out and the transportation option is safe for humans. Only after that time comes will Texans need to start evaluating whether high-speed travel is enough of a public interest to warrant using the private property it would no doubt require.

GReenberg & Company Commercial Real Estate Brokerage Firm

FREESTANDING RESTAURANT

RETAIL | MEDICAL USE ALLOWED

WESTCHASE/ROYAL OAKS AREA | HIGH TRAFFIC | EXCELLENT VISIBILTY

Built in 2002, this is a single story, freestanding retail/ restaurant located at the front entrance of the prestigious Royal Oaks sub-division and Country Club, consisting of approximately 900 single-family homes. The restaurant sits on Westheimer, between Kirkwood and Wilcrest and is adjacent to several retailers including PF Changs and Kohl’s clothing store.

W. Parker Rd

PROPERTY HIGHLIGHTS

• Parking up to 700 cars with crossover parking rights. • Furniture, Fixture and Equipment Available • Triple NET Lease • High Traffic • Great Exposure • Space Available: 11,320 SF • Building Size: 11,320 SF • Land Size: 1.54 Acres

LEASE PRICE: CALL FOR DETAILS

Contact Broker : David Greenberg: David@GreenbergCompany.com

5959 Richmond Ave., Suite 440 Houston, TX 77057 | WWW.GREENBERGCOMPANY.COM | Phone: 713-778-0900 | Fax: 713-782-7445

LEVCOR, INC. IS A LEADER IN THE DEVELOPMENT AND REPOSITIONING OF RETAIL SHOPPING CENTERS RANGING FROM 100,000 TO 1,000,000 SQUARE FEET THROUGHOUT TEXAS AND NORTH CAROLINA.

Houston

McAllen

Pharr

Texas City Burlington

Sherman

Eagle Pass Laredo El Paso Waco Del Rio Winston-Salem

Post Oak Plaza, Houston, Texas

Levcor, Inc. 1001 West Loop South #600, Houston, Texas 77027 713.952.0366

LEVCOR.COM

Land trends with Land Advisors A look at Texas’ three largest markets BY BRANDI SMITH

The world of commercial real estate is a broad one, covering a variety of different jobs and specialties. In so many instances, we see CRE professionals take on two or more titles, chasing expertise in many different areas.

Landry Burdine, a designated broker with Land Advisors’ North Texas office, says he made the decision early on to focus his skills in one field: land brokerage. “One of the best pieces of advice I've ever received came from Dallas retail developer, Mike Hopkins. He told me, ‘Be the best at something,’” Burdine explains. “I think one of the mistakes young brokers make is that they try to do a little bit of everything. They'll try to lease office buildings and retail centers and sell pad sites. What you find is that when you do that, you don't really learn the nuances of your market as well as you do when you focus on one thing and do it well.” When Burdine got started as a land broker about 20 years ago, he says he made that decision because he saw opportunity. Land, he admits, can be a challenge.

Landry Burdine Land Advisors, North Texas

Walsh Fort Worth, Texas

“The timeframe that it takes to get land deals done from start to finish is really long and it's not always reliable. Sometimes you're at the whim of a council member or you're at the whim of a sewer or water line,” he explains. “Some deals can be difficult transactions, but we saw that and focused our business around it. That's how we've been able to stick around for a while.” Seven years ago, Burdine and his business partner, Austin Reilly, joined Land Advisors, which bills itself as the “best known name in land.” Founded in Phoenix in 1987, the company has since spread across the country, including three offices in Texas: Austin, Houston and Dallas.

September 2017

“We're fortunate to be in Dallas-Fort Worth. This is a market where a lot of guys would dream to work,” Burdine says. “We treasure our relationships with our clients. We try to do a great job for them. We love working with the home builders. We understand what they need and we like doing it.” It’s clear the Land Advisors team doesn’t just like what they do; they’re exceptionally good at it. For example, in just the past few years, Burdine and Reilly have racked up residential and commercial transactions worth more than $500 million in valuation. “Right now, we focus mainly on housing. When you're focused on housing in a very good housing market, then naturally you're going to be busy,” he says. These days, the Dallas office specializes in master-planned communities. Burdine has brokered transaction for developments, including the 3,200-lot Traditions, in north Fort Worth, Roanoke’s 800-lot Briarwyck and Trinity Falls, which will feature 4,176 lots in McKinney. “We've been handling master-planned communities from McKinney over to Denton County to Parker County,” he says. “We've got a new one in Burleson we're working on. It's been busy. It's good.” The project keeping Burdine and Reilly especially busy these days is Walsh, an expansive MPC in Fort Worth. Stretching over 7,200 acres, the development boasts 15,000 future lots and 10 million square feet of commercial space. “Walsh is obviously our baby right now. It's an exciting project to be a part of,” says Burdine. “There's a lot going on. We're basically building a city from scratch there. We're real excited about that.” Continued on page 20 >

FLEXIBILITY IN GREAT LOCATIONS PARKWAY OFFICE CENTER

BUCKLEY BUILDING

L VAILAB UOUS A

ONTIG 0+ SF C

800

Negotiable Rates & Quick Move-In

9225 Katy Freeway

Easy access to I10 & CBD/ Sam Houston Parkway Aggressive Owner & Quick Move-in Onsite Management 3/1000 Parking Ratio

1100 SF – 2022 SF Available

800 & 888 W. Sam Houston Parkway, Houston, TX

Easy access to W. Sam Houston Tollway/I10 & Westpark Tollway 800 W. Sam Houston building renovated in 2016 & 888 W. Sam Houston will be completed by year end

Contact Art Troscher or Cory Troscher 713-463-9994 atroscher@premierps.net | ctroscher@premierps.net

504 SF – 8000+ SF Available

SAN MARCOS - TEXAS

CALL CENTER…CORPORATE HQ UP TO

8,000 Sq. Ft.

FULLY FURNISHED OR BARE READY FOR MOVE-IN $17.40 SF/Year - NO NNN Smaller Lease Areas Available

(512) 787-8310

henry@oldmillproperties.com

www.oldmillproperties.com

8436 KOPMAN HOUSTON, TX 77061 30,000 sq ft warehouse crane ready (20 -ton crane capacity). 3,000 sq ft shell office. 30 ft clear height. +/- 4.5 acres additional yard available.

CO N S T R U C

CONTACT: Scott Wilkerson (T) 713-522-3092 (C) 832-364-9133 Scott@GarverRealEstate.com TION COM

PLETE IN O

C TO B E R 2

017

Land trends with Land Advisors

A look at Texas’ three largest markets < Continued from Page 18

Burdine credits the affordability of North Texas land for the building boom, but he notes that that is changing. “The average home prices have jumped up so much now that it's just really difficult for someHal Guggolz Land Advisors, Central Texas body who wants to buy, say a $225,000 house,” he says. “There's not a lot of lot supply coming online that allows these builders to deliver that product, so they're having to get more creative in a lot of cases.” As a result, Burdine says developers are trying to work with cities to help them understand the strain on the affordable lot supply in those sub-markets. That means discussing entitlements or re-entitling some parcels. “That puts a lot of pressure on the developers to make sure they’re delivering a great project. When cities see that, they'll start to allow more and more of them,” says Burdine. “If the developers aren't delivering a nice project and they're just delivering a dense piece of junk, then it's going to make it harder for everybody to get more dense.” Density, Burdine points out, is key as developers try to balance building affordable homes with rising land prices. The higher-priced home market in North Texas, he says, has flattened out, leaving builders scrambling to find longer-term positions and cheaper pricing. “The only way to do that is to pay less for land. In a really hot market like Dallas, that is hard to do,” he says. “The alternative is playing with density, so you wind up with more lots per acre.”

Adapting to affordability in Austin Down Interstate 35 in Austin, Land Advisor’s Hal Guggolz says affordability is also an issue on the forefront right now. “Everyone's main focus is how to tackle affordability and try to deliver some type of product, whether it's rental apartments or single-family home sites, so people can afford a quality place to live,” says the company’s metropolitan statistical area advisor. “That's been the most recent, the past couple of years, the big issue in Central Texas.” Guggolz, who focuses on residential, commercial, investment and ranch properties, says a variety of factors are impacting affordability in Central Texas, primarily land prices, development costs, construction costs. In Texas’ Hill Country geography is an added challenge. “It's very difficult to develop and build homes there, so the costs go up,” he says. “It's been hard to find property for entry-level home pricing and firsttime move-up home pricing for which people can qualify.”

“It's been hard to find property for entrylevel home pricing and first-time move-up home pricing for which people can qualify” - Hal Guggolz

To adapt, Guggolz says, builders have kicked off a new trend in Austin: building east of Interstate 35, which basically splits the city down the middle. “These are submarkets where people wouldn't even have thought of going five years ago. They are now very much on people's radar and are high-interest for consumers and builders alike,” he says. Despite affordability issues, Guggolz maintains that Central Texas is still a great opportunity, locally and nationally. “We have strong demographics and economic indicators of population growth and job growth,” he points out. “We have great job sectors here. We have University of Texas, the state capital and a great tech industry. I think we're positioned for the future very well.” Guggolz, who joined Land Advisors in 2010, says his office is currently working on an exciting deal, but he doesn’t want to jinx it by publicizing it just yet. Even so, he’s racked up millions in transactions in his time with the company, including the $3.3 million Thousand Oaks deal in Marble Falls and the $4.3 million sale of JR Circle Bar Ranch in Blanco. The Tulane grad says his secret weapon is his ability to consistently find the hidden value of a property and generate its maximum potential. It doesn’t hurt that Guggolz grew up in San Antonio, part of the region he now covers. “This is home. My whole life, I've seen this market expand and grow,” he says. “I’ve seen places I considered far out as a child become infill locations. It's been very interesting to witness the progression and expansion of these markets,” he says. From his office in Austin, Guggolz coordinates deals in 11 counties - from Georgetown to San Marcos, stretching into San Antonio and New Braunfels. “The I-35 corridor connecting Austin and San Antonio is very big and luckily, there's growth happening all along it. It's a really exciting time and a really great place to be,” he says. Continued on page 22 >

INSIGHT

KNOWLEDGE

EXPERTISE

LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT THE WOODLANDS

WOODLANDS SUBMARKET

Research Forest Dr. & Egypt Lane

Rayford Road/Foster Lane, Spring

2615 FM 1488, Conroe

105 FM 1488 near I-45

• 60,000 SF Retail and Professional Office

• Close to ExxonMobil, Minutes to Grand Parkway 99, I-45 & Hardy Toll Road

• Just West of I-45, near SH 242

• Behind Parc Woodland Luxury Apartments

• 170’ Frontage on Rayford Road

• In Proximity of Grocery Anchored Shopping Center and New Retail Development

• Adjacent to Grace Crossing Church (surplus land)

• NEC of heavily trafficked Research Forest Dr. & Egypt Ln.

• Includes 2 houses and 1 Office

• Potential uses: Retail, Multi-family, Medical

• Potential uses of Self Mini Storage, Light Industrial, or Office Condo

• Public Utilities Available; Off-site Detention

• Potential uses: daycare, school, storage, residential development

WOODLANDS SUBMARKET

TOMBALL

MAGNOLIA

719 Sawdust Road, Spring

25450 Kuykendahl Road

NWC of FM 2920/FM2978

NWC of FM 1488/SH 249 Toll Road

• 56,000 SF, 3-Story Atrium- Style Office Building

• 11,000 SF Medical/Retail/ Professional Office space

• Lighted Intersection

• Great Visibility – Over 500’ Frontage on FM 1488

MIXED-USE DEVELOPMENT - For Lease

• Restaurant & Retail Pad Sites Available • Adjacent to Super Target Anchored Power Center

DEVELOPMENT SITE - 5.5 Acres For Sale

PRESERVE PLAZA - For Lease

OFFICE SPACE - For Lease

• Minutes from Woodlands Mall and Waterway • <1 mile West of I-45 & near Hardy Toll Road • Recent Improvements and Upgrades

• Near The Woodlands Creekside Village. • 7,986 SF 2nd Gen ER space available, divisible by 1,600 SF

MIXED USE SITE - 3.1 Acres For Sale

310 Corporate Woods, Magnolia • 1 block off FM1488 between FM 2978 and FM 149 • Traffic Count 30,664 CPD on FM 1488 • Cul de Sac Wooded Lot • Potential use: Office/Industrial/Warehouse/ Church

281.367.2220

DEVELOPMENT SITE - 55 Acres For Sale

• 2.8 miles East of HWY 249, 2.5 miles NW of Grand Pwy 99 • Steady Traffic Flow

MIXED USE SITE - 12 Acres For Sale

• Future Signalized Intersection on heavily trafficked FM 1488

DEVELOPMENT SITE - 5.6 Acres For Sale

• Surrounded by 2,600 Acre Residential Development

• Major Commercial and Residential Growth

• Potential Uses: Retail Strip Center, Fuel Center, Hotel, Investment Tract

CONROE

WILLIS

DEVELOPMENT SITE - 18 Acres For Sale

DEVELOPMENT SITE - 46 Acres For Sale

LEAGUE CITY

Sgt. Ed Holcombe-Wade Circle

I-45 & Longstreet - NEC

I-45 near FM 646

• Build to Suit

• 2,274’ Frontage on I-45

• Build to Suit

• Ample Parking & Monument sign available

MAGNOLIA

PAD SITES - For Sale/For Lease

• Growth Corridor of Conroe • Just North of new “Grand Central Park” Master-planned community and Conroe Regional Medical Center

• 1 mile North of New Development by Howard Hughes, Woodland Hills • Utilities: City of Willis

• Unrestricted

jbeardcompany.com |

RETAIL PAD SITE - 2 Acres For Sale or Lease

• 223’ Frontage along I-45 Service Road • Victory Lakes Commercial Reserve, directly across the Gulf Freeway (I-45) from Cabela’s. • Detention located Off-site • Excellent Accessibility

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

This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.

Land trends with Land Advisors

A look at Texas’ three largest markets < Continued from Page 20

Hot for housing in Houston ‘A great place to be’ is how Guggolz’s counterpoint in Houston, Kirk Laguarta, describes Land Advisors. The 33-year veteran came on board as a broker and MSA advisor in 2002 after getting to know a couple of guys on the team. But, Laguarta says, it was the company’s technology that sealed the deal for him. “We have a state-of-the-art GIS system,” he boasts. “I’m in awe that we have the information we do while sitting in our office.” It’s an invaluable tool when serving such a wide area. Laguarta’s Houston office serves Harris, Montgomery, Brazoria, Fort Bend, Galveston, Liberty, Waller and Chambers counties. Over his decades in Houston, Laguarta says he’s been able to watch Houston grow and evolve. Now, with the completion of parts of the Grand Parkway in the northwest and northeast parts of town, he says the city is growing in those directions. “Houston has always grown in a pattern. It has the highest concentration of successful master-planned communities in the country, partly because we don't have zoning,” Laguarta says. “The lack of zoning gives MPC developers a tremendous advantage. Instead of having governmental-enforced zoning, they can create market-based zoning. “ The results in MPCs, he suggests, are increased home sales, high home prices and great home velocity. Laguarta points to doomsday predictions for Houston during the Great Recession and oil slump of 2014, which barely slowed down the city’s housing real estate market. “We were undersupply in housing from 2012 to 2014. The Houston market had created 300,000+ jobs, but

we’d only sold somewhere around 45,000 houses,” explains Laguarta “We knew we had at least a year’s worth of demand to carry us through 2015 and into 2016.” Consequently, homes kept selling throughout what people called a “crisis.”

includes four miles of frontage on Grand Parkway, plus 3.5 full interchanges. “It's a tremendous asset,” Laguarta boasts. “In the hands of the right buyer, somebody who is patient and is looking at something on a four-plus year time horizon, it's gonna be an excellent play.”

“Two years ago we were still the No. 1 market in the country. Last year, we fell to No. 2 behind Dallas,” Laguarta laughs, adding that when nearly 25,000 homes are selling in an “off” year, that’s still pretty good. Laguarta also pointed out that “Houston is the only housing market in the nation that has produced at least 18,000 new home starts for 20 consecutive years. Anyone in our business knows that’s phenomenal!”

He expects portions of the property to be used for office or a corporate campus due to the parcel’s exceptional access. But, Laguarta adds, a master-planned community would do well too, as Houston battles the trend that seems to infiltrate all the major Texas and U.S. markets: affordability.

major new roads are opening. Right now, he’s working on a project he calls Kingland featuring 4,077 acres on Houston’s northeast side. The property

With their decades of combined experience, Burdine points out: “We have staying power in this business.”

“Right now, we’re selling more houses in the $200,000 to low-$300,000 range,” he says. “A few years ago, most were closer to $500,000, because we had created so many engineering jobs.”

That, Laguarta says, was an anomaly. He predicts most home sales will be starter “I’d go so far as to say any Kirk Laguarta homes in that lower price range versus ‘slump’ actually helped Land Land Advisors, South Texas the upper range. Advisors. We already had relationships with a lot of “Affordability is still going to be an issue,” the large funds, Wall Street he says, “But Houston is far more affordable than or ‘money’ funds, those types of people,” Laguarta Dallas, Austin or really any other major metropolisays. “So once the dust settled around 2012, we had tan area.” a tremendous leg up. We had a bigger platform While that challenge is consistent throughout Texas, than many brokerage companies and, because we the Land Advisors team, including Burdine, Guggolz specialize in land, we had already worked with and Laguarta, say they are prepared to help their many of the large fund folks before.” clients navigate the market to deliver the best Laguarta says he’s excited by the great potential he possible projects in the state. sees for areas where the Grand Parkway and other

DAIRY ASHFORD / MEMORIAL

PASADENA

CHAMPIONS AREA

3315 BURKE ROAD Pasadena, TX 77504

909 DAIRY ASHFORD RD Houston, TX 77079

908 E. SOUTHMORE BLVD. Pasadena, TX 77502

17030 NANES HOUSTON, TX 77090

• 46,462 SF, Three Story MOB • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance • 532-3,068 SF Available

• Up to 11,929 NRA Available • Two Story MOB • On Site Pharmacy • Located 2 miles from the NW Medical Center

GREENSPOINT

CHAMPIONS AREA

GALLERIA

550 GREENS PARKWAY Houston, TX 77067

14505 TORREY CHASE BLVD Houston, TX 77014

7660 WOODWAY Houston, TX 77063

7887 SAN FELIPE Houston, TX 77063

• 560- 11,080 NRA Available • Beautiful Atrium Lobby, High End Finishes & Lush Landscaping • Secured Covered Parking

• 580-8,536 NRA Available • Completely Remodeled in 2015 • Private Corner Balconies on Upper Floors • Located near FM 1960 & I-45 in Champions Forest

• Up to 19,622 NRA Available • Five Level, Class B Office Building • Renovated in 2014 • Property Secured by Security Gate & Card Key Access

• Up to 2,532 NRA Available • Located in the Suburbs of the Galleria – San Felipe/Voss Submarket • Free Covered Parking

ANGLETON

TEXAS CITY

BROWNSVILLE

EAST HOUSTON CENTER

1800 N. VELASCO Angleton, TX 77515

8030 FM 1765 Texas City, TX 77591

3000 PABLO KISEL BLVD Brownsville, TX 78526

10907-11095 I-10 EAST Houston, TX 77029

• 6,700 SF End Cap Available • Kroger Anchored Center • Center is Located Across from Wal-Mart • Renovated in 2014

CORPORATE OFFICE: 7887 San Felipe Houston, TX 77063 (713) 974-4292

• Up to 3,000 SF Available • Located in the NASA/Clear Lake Submarket • Parking Ratio 7.07/1,000

AUSTIN:

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

• 1,200-6,460 SF Available • Strong National Tenant Mix • Located Adjacent to Sunrise Mall • Strong Demographics

DALLAS:

6060 N. Central Expy Suite 560 Dallas, Texas 76206 (972) 234-9901

OFFICE

• Two Story MOB • Renovated in 2008 • Up to 2,392 SF Available • Services the Memorial & Surrounding Neighborhoods

• Up to 11,017 SF Available • Located at NWC I-10 E Frontage @ John Ralston • Traffic Count Exceeds 189,000 CPD

SAN ANTONIO:

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

RETAIL

• Three Story Office Building • Fully Remodeled Lobby & Common Areas • Conveniently Located Across Bayshore Medical Center • 885-3,596 NRA Available

MEDICAL

PASADENA

Apartment Forecast: Presentation by Ed Nwokedi

Ed Nwokedi Senior Director Cushman & Wakefield’s Multifamily Advisory group

BY MICHAEL PAVIA

Ed Nwokedi, Senior Director of the Cushman & Wakefield’s Multifamily Advisory group, was the speaker at a luncheon on July 19 at the H.E.S.S. Club in Houston. The luncheon was sponsored by O’Conner & Associates. The topic of Ed’s presentation was Houston’s Apartment Forecast. Ed covered 1. Houston Market Fundamentals, 2. Value Add applied to existing properties, and 3. Current Value Add Targets with Examples. 1. Houston Market Fundamentals For the period 2016-2017, more than 40,000 new units have been/will be added to the Houston apartment marketplace as illustrated in the following chart.

2016 # Projects Units Under Construction 29 8728 Proposed 5 1536 Delivered - 20984 With the multi-year drop in oil prices and its resulting effect on the Houston economy, we are seeing an over capacity of apartments with pressure on rent prices. The current economic landscape looks similar to that seen in 2009. As a result, Ed predicts the number of new units will drop to approximately 3,500 in 2018. This will likely result in an increase in occupancy rates and a resulting increase in rents in 2018 and beyond. Some locations have fared well, such as Montrose/ Memorial Heights, Midtown, and Greenway Plaza. Across all classes and geographies, Houston has seen a 21.9% rent increase in the 2012-2017 period. 24

September 2017

2. Value Add Ed next discussed a key current opportunity: identifying existing properties can afford an excellent investment return by focusing on value add improvements. A heavy supply of Class A assets has been delivered in recent times. The economic downturn has resulted in dropping rents over the last two years. With excess inventory expected to stabilize in the coming year, there is a significant opportunity to capture value from earlier built properties. A key opportunity exists in Class A apartments built in 2009-2012 that could see excellent returns with value adds. Generally, such properties have “dated” interiors. Value adds such as faux wood floors, black-on-black or stainless appliances, granite counter tops, and upgrading lighting

2017 # Projects Units Under Construction 13 3771 Proposed 6 1886 Delivered ~20000 can bring the units to comparable newer construction with a resulting increase in rental rates. Ed has been engaged in finding such value add opportunities. 3. Case Study CARRIAGE PLACE APARTMENTS The property has 276 units and is located in North Houston at the crossroads of I-45 and FM 1960. The occupancy rate is 97.8% and the average income is $50,550. Ed presented an analysis of Carriage Place compared to five other properties in the neighborhood. All had higher rents/sq. ft. The rate for Carriage Place was $0.68/sq. ft vs the other five properties which ranged from $0.82-$1.05/sq. ft.

Analysis of these data showed that Carriage House was approximately $100 below market for a one-bedroom apartment and $200 below market for a two-bedroom apartment. Suggested value adds such as faux wood floors, black-on-black appliances, granite counter tops, and upgrading lighting could be carried out for about $4,500/unit and an approximate $150 rent increase per unit could be realized. This translates to an approximately 40% return. Carrying out the suggested value adds will repositioning the property to be more in line with the surrounding Class A and B complexes. This property holds promise for substantial untapped value. Ed presented several additional examples with return on investment of up to 100%. 4. Conclusions Expect demand to catch up or exceed supply in 2018. This will result in high occupancy and subsequently higher rents. During the interim period, investment in value adds to existing properties will afford the opportunity to capture higher rental fees. Mr. Nwokedi focuses on assisting clients with the acquisition and disposition of class A, B and C multifamily properties, as well as sourcing sites for new development. Mr. Nwokedi also acts as council to C&W on commercial real estate in Sub Sahara Africa. Mr. Nwokedi began his real estate career in 2003 and has proven to be a Houston market leader by consummating more than $800 million in multifamily sales. He was awarded the CCIM Institute’s (Certified Commercial Investment Manager) 2006 Rising Star Award. In 2009, Mr. Nwokedi reached the Top 5 production level for C&W’s Houston office. Prior to C&W, he worked for Colliers International of Houston where he served as a broker in the Multifamily Investment Group. Having formed a partnership to strengthen the Multifamily Sales Division, and as co-partner and vice president, he led his team to successful negotiations for many prominent clients.

10.00% Cash-on-Cash Return on Actuals at 87.79 perecnt occupancy 74,612 square-foot Sunrise Lakes Oﬃce / Professional Buildings One-and-a-half miles east of State Highway 288 on F.M. 518 in Pearland, Texas

Investment Highlights

Oﬀering Summary

• Value-add opportunity featuring a 7.5% cap on Actuals at 87.79% occupancy • Oﬃce/Professional Complex With Two Buildings • Built in 2006 in Fast Growing Pearland on High Traﬃc Broadway (FM 518) Across from 1,800 Acre Silverlake Master Planned Community • Upscale Demographics With Over 67,907 People in a Three Mile Radius With an Average Household Income in Excess of $115,000

• 7.51 Percent CAP Based on Actuals a 87.79 Percent Occupancy | Diverse Tenant Mix Including Specialty Medical Businesses | Pro Forma Cash Return of 12.80 Percent at 95 Percent Occupancy • Pearland is a fast growing city of more than 144,000 residents (2017) located ten miles south of the Houston CBD and eight miles from the Texas Medical Center

Price Cap Rate Current CapRate Pro Forma Current Occupancy

$11,350,000 7.51% 9.32% 87.79%

Exclusively Listed by:

Jerry Goldstein Senior Managing Director Investments Three Riverway, Suite 800 Houston, TX 77056 Tel: (713) 452-4255 | Fax: (713) 452-4214 Jerry.Goldstein@marcusmillichap.com License: TX 0304168 www.HoustonRetailProperties.com

Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • Hotel, Condo, Retail Site - Cruise Terminal Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide

H &

Serving Austin, Dallas, San Antonio & Houston

WE SHOOT TO SELL WITH QUALITY PHOTOGRAPHY

PRIMARY SERVICES: Corporate Headshots

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

40 Years Experience As Developer, Owner / Operator and Commercial Broker

Hospitality Consulting Services

Ray Hankamer, Jr 40 Years Experience As Developer | Owner 713.922.8075 | Operator

rhankamer@gmail.com / www.hankamer.com

(713) 789-7060 www.hankamer.com Brokers: Ray Hankamer, Jr., Pablo Szub,

Commercial Real Estate Photography Aerial Photography & Video Promotional Videos

CALL TODAY - 713.449.2468

www.PlusCorpPhotos.com

SHERYL D. THOMAS 2425 West Loop S, #200 Houston, TX 77027 713.449.2468 sthomas@pluscorpphotos.com

WANTED CASH REWARD FOR BUYERS AND TENANTS

THE BOULEVARD SHOPS at The Reserve Clear Lake City

an tm ix. te n al fin

on d se ba ge an ch tt o ec

40 ,0 S.F 00 . ’

0’

0 20

6,0 S 00 6,7 .F 60 00 S.

0’

’

.F .

5,0 S.F 00 .

1+ acre/-

F C

0’

Lin

Bl p

nc e

oC or oc

Blv de

nt ra

ac eC en ter . MT

Suggested Uses Bank, Dry Cleaner, Carwash Fast Food, Gas Staion Covenient Store Pharmacy, ER, Retail, Restaurant Veterinary Clinic, Lawn and Garden Financial Planning, Insurance, Hair Salon Na�onal Grocery Store, Liquor Store, Na�onal Fitness F 10+/- acre Gym, Specialty Grocery, Electronics, Medical Campus Site Informa�on: Located in the City of Houston. All u�li�es are present and available along Space Center Blvd. Site Plan is not ﬁnalized, please call to discuss poten�al uses. Seller will entertain Selling all or part. Sell, Lease, Land Lease or Build-to Suit op�ons available. *Site plan and tract sizes are subject to change upon ﬁnal use and survey.

.L. ’W

Size 1+/- acre 1+/- acre 2+/- acre 1+/- acre 1+/- acre

Pad Site A B C D E

North Fork

For Information: Patrick M Dando - (713) 951-9300 ph - (832) 298-0555 cell - patrick@hpr-llc.com

±15.1 Ac.

Space Center Bvld at The Reserve Clear Lake City

E S

eC en

N W

ter

B 1 ac +/re

1 ac +/re

Lease Space 2,000 sq ft to 200,000 sq ft

2 acr+/e

14 ,0 S.F 00 .

’

Pad Sites 30,000 sf to 15.79 acres

1 +/acre

0’

26 ,6 S.F 00 .

’

0’

F SO UN UTU LD DE RE - N R M OT CO EM A NS O PA TR RY RT UC CA TI RE ON

U 80 ND 0 N ER Th eR EW CO es er ve HO NST at Cle M RU ar La E CT ke Cit S y $5 ION 00 K+

bj su is Pl an ite *S

Premier Big Box Location

15.79 acre Mixed Use

Located just North of Clear Lake City Blvd on Space Center

HOTLINE - 713.951.9300

T UL

Super

Spencer Hwy

Beltway 8 Tollway

THE BOULEVARD SHOPS at The Reserve Clear Lake City

*Final site plan subject to change based on tenant mix.

Fairmont Parkway

0’

2+ /acre

ra do B v d

at C

lea r

Cit y

as em en t Th eR

nt ra

nc e

oc oC or p

Blv de

ac eC en ter

- GROUND LEASE - BUILD-TO-SUIT

T UL

North Fork

For Information: Patrick M Dando - (713) 951-9300 ph - (832) 298-0555 cell - patrick@hpr-llc.com

- ALL UTILITIES PRESENT

±15.1 Ac.

Baybrook Mall

- LEASE

lvd

ity B

e Cl

Size 1+/- acre 1+/- acre 2+/- acre 1+/- acre 1+/- acre

. MT ES

Bay Oaks

e C Country Club ak

Pip eL ine E

1 ac +/re

vd Bl

1 ac +/re

eC ac Sp

ac Sp

Pad Site A B C D E

- PURCHASE

.L. ’W 20

E S

ter

N W

en eC

uff

te r Bl vd

The Reserve @ Clear Lake City 900+ Homes

es er ve

14 ,0 S.F 00 .

70 ’

Genoa Red-Bluff

1 +/acre

50 ’ 14 0’

26 ,6 S.F 00 . 0’ 19

146

Blvd commercial tracts - Clearpoint Crossing and 15.707 Tract 1 +/ acre -

20 0’ .

FU SOL TU D UN RE - N DE ME OT R M AP CO O A NS RY RT TI CA ONSpace RE Center

0’ 10

60 00 S.F ’

5,0 S.F 00 0’ . 6,010 S 00 6,7 .F .

ite Pla n

0’ 20

bje

40 ,0 S.F 00 .

an g

ase

fin

al te

na nt m

ix.

Fairmont Parkway

char ming

lvd

CH ARLI E

- CITY OF HOUSTON

Are

Tu esday Mo rning

Bay

Clear Lake

- 3 mile Radius

528

Galveston Bay

Nasa

Rd 1 146 Super

51,503 population 19,858 households $130,560 AHI

Super

528

Tu esday Mo rning bel F U R N I T U R E

The Home Décor Superstor

LifeWay CHRISTAIN STORES

Ol dG es a lv

BAYBROOK SQUARE

n to y Hw Super

Houston Partners Realty LLC Patrick M Dando 11700 Space Center Blvd, 104 Houston, TX 77059 713-951-9300 office 713-951-9301 fax 832-298-0555 mobile patrick@hpr-llc.com

Business Planning Process For Sales Professionals BY ELKE LAUGHLIN

As we are all aware, a business plan describes an organization’s vision and objectives; as well as the strategy and tactics that will be employed to achieve them. A plan may also provide the basis for creating an operational budget, among other goals and objectives.

Once the business plan has been developed, it serves as a wonderful tool to help ensure the organization does not deviate from the plan, and if used properly, it also holds members of the organization accountable for their areas of responsibility. However, should a sales professional or team (ideally a team) create their own business plan? The answer is a resounding, YES! Sales professionals are factored into the overall sales organization’s business plan. To create an operational budget, revenues must be forecasted. Consequently, each sales professional is typically asked by management to project his/her annual revenue; however, for some professionals, it’s just a “lucky guess”. As such, this can be a perfect time for sales professionals to create their own business plan.

than the “standard” work-year.) However, for the purpose of this exercise, let’s use 2080 hours as our denominator. So, let’s do the math. If sales professionals want to gross $1.0 million annually, they must perform $480/per-hour functions. Unfortunately, many professionals don’t achieve that “hourly” rate. This is where being a member of a team can help drive revenues. Often, sales professionals fall into the trap of doing administrative or operational functions, when they should be working on BUSINESS DEVELOPMENT! Therefore, a strong business plan can serve as a roadmap to achieve a sales professional’s revenue goals. It can be as simple as completing the following exercise:

Elke S. Laughlin, Laughlin Consulting Group

In the commercial real estate arena, most sales professionals’ compensation plan is 100% commission, so, are they valuing their time correctly? According to the Fair Labor Standards Act (FLSA), there are 2080 hours in a work-year. (We all know that sales professional work much longer hours

Start with a Performance Analysis - determine where your revenue comes from and what transactions will produce the most revenue. Then determine your Strategic Direction - what are your goals and objectives? Once you have identified your strategic direction, then determine your Market Space – what type of products or clients will you represent? Next, what is your Value Proposition – what value will you bring to the client? Once the value proposition has been defined, what will your Operating Model look like? A strong operating model typically contains three business processes (business development, engagement and service delivery.) When the Business Planning Process is done collaboratively with both management and the professional sales team, a “bow-tie” is effectively wrapped around the whole business model. The market sector is defined and evaluated. Short and long-term goals are established. The client's needs are identified and the value and service delivery requirements are developed. Ultimately the operating model, including the team structure, is crafted and then evaluated against financial performance expectations.

September 2017

W * UNRESTRICTED 70+ Acres, Less than one mile from the intersection of Grand Pkwy & Cypress Rosehill * Currently set up as World Class Equestrian Facility, but ideal for residential or commercial development * 3,920 sf 18 stall Barn wtih an OďŹ&#x192;ce & Vet Stall, Covered Arena, Utility Barn, 3 Wash Racks, Multiple Paddocks, etc.

*Unrestricted property in prime Tomball growth area *Next to the Tomball Business & Technology Park *Close to Baker Hughes, Exxon Mobil campus, The Woodlands, 2920 & 99 *City of Tomball property *Drainage in place

*UNRESTRICTED LAND *Only minutes from the Intercontienental airport at the intersection of Will Clyaton & I-59 *Numerous car dealerships within short distance as well as Deerbrook Mall *Next to Memorial Hermann

*Almost 16 Unrestricted Acres *Next to Deerbrook Mall, Samâ&#x20AC;&#x2122;s Club, Walmart, Krogers & other prime retail and dnancial establishments *Close to hospital & medical facilities *Multi & Single Family in the area *Access from BOTH FM 1960 & Humble Westteld *Seller wil subdivide

NOW LEASING SEC KIRBY DR & CR 59 - PEARLAND, TEXAS

Delivery 3rd Quarter 2017

NOW LEASING

SEC KIRBY DR & CR 59 - PEARLAND, TEXAS Delivery 3rd Quarter 2017

PROPERTY HIGHLIGHTS • 15,750 SF retail professional center available for lease • 89,402 SF pad site available • Surrounding Master-Planned Communities: Silverlake, Silvercreek, Southfork, Pomona, Lakes of Savannah and Rodeo Palms • Access from Kirby Drive and County Road 59 • Easy access to Hwy 288 • Unimpeded visibility • Excellent demographics and numerous national retailers nearby

AIRLINE FT. BEND RD. (C.R. 59)

Brooke Gentry - 713.458.5151 bgentry@excelcommercial.com

Richard Rainer - 713.458.5151

rainer@excelcommercial.com

KIRBY

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

BROOKE GENTRY - 713.458.5151 bgentry@excelcommercial.com

DEMOGRAPHICS

1 MILE

3 MILE

5 MILE

Active Population

2,760

51,528

127,197

Residential Count

991

16,909

42,036

Avg Household Income

$121,953

$131,282

$121,354

Growth Since 2010 Census

39.95%

43.35%

42.82%

RICHARD RAINER - 713.458.5151 rainer@excelcommercial.com

FOR LEASEE OR SAL bby Near Ho Airport

9920 GULF FWY

Space Available from 5000 to 40,000 SF

1 FOR LEASE OR SALE Good for Retail, Banks, Medical, Corporate HQ, etc. • 48,000 SF Total Rentable Area • 26,000 SF on 1 st floor; 22,000 SF on 2nd floor • 2.3 Acres Land • No Zoning Restrictions • 7 Minutes from CBD & Minutes from Hobby Airport • Traffic Count: 250,000 CPD • Surrounded by hotels & retail within a 1-mile radius

1 2 PRE-LEASE INCENTIVES NOW Monroe - between I-45 & Beltway 8 • Office Warehouse units pre-leasing

• 2500- 5,000 SF office warehouses • Office Build-to-suit • Fully Insulated • Storefront Entries

LEAS PRE-

ING

NOW

• 7200 SF Retail Space available (will subdivide) • Excellent located between Beltway 8 and I-45 near Hobby Airport • Easily accessible from Monroe • For information on pricing and lease rates, please contact us 3 FOR SALE Telephone @ Fuqua

JUST REDUCED FOR FAST SALE

$325,000

2 3

• 2.7 Ac, 215’ X 600’ frontage, located in the well established and highly traveled area, (Fuqua & Telephone Rd.) • Surrounded by Retail and Residential units • Excellent site for Shopping Center, Gas Station, Car lot, Restaurant, Apartment or light industrial • Close proximity to Beltway 8 and Hobby Airport

CONTACT GIL JR. OR TOMMY T

713.991.0026

WWW.GILRAMIREZPROPERTIES.COM

Info@GILRamirezProperties.com

retail | restaurant | medical | space for lease 2,340 SF available on second floor. Base rent $15.00 PSF & NNN $4.20 PSF

Excellent for retail, office or professional use

2,671 SF end cap on first floor, one lane drive through attach; Base rent $24.00 PSF & NNN $4.20 PSF

2 blocks west of Beltway 8

Kaleidoscope 10612 Westheimer Houston, 77042

WoodlanD Park Shopping Center

800 -7,350 SF available on first floor. 12,992 SF available on second floor with patio. Excellent for medical office. Base rent $15.00-$18.00 PSF & NNN $3.60 PSF

+/- 592â&#x20AC;&#x2122; of frontage on Westheimer

372 surface parking spaces available

11380 Westheimer Houston, 77077

Restaurant Space

A A Realty Realty Co AA Co

Accredited Management Management Organization Accredited Organization

For more information call : Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108 eleung8888@aol.com www.aarealtytx.com

4,800 sf available second generation restaurant space 80â&#x20AC;&#x2122; of frontage at Westheimer rental rate $24.00 psf and NNN $4.80

Traffic counts - 82,880 CPD (Westheimer)

Pylon signage available

Aggressive lease terms

FOR SALE | Highway 290 | Hempstead, TX 77445 F U RT H E R

Texas C.R.E.S. LLC Joel C. English (713) 473-7200 joel@texasCRES.com

REDUCED

PROPERTY CHARACTERISTICS • Contiguous tracts totaling approximately 329 acres available for sale • Total price for all four tracts: $9,800,000.00 $8,200,000.00 • Tract 1: + _ 116 acres (fronts Highway 290) • Tract 2: + _ 116 acres (ranch site) • Tract 3: + _ 86 acres (ranch site) • Tract 4: + _ 11.4 acres (fronts FM 1488) • Frontage on Highway 290 and FM 1488 • Located just east of the Highway 6 exit to Bryan/ College Station • Call for more information • Demographic Package Available

Lee & Associates Patrick Wolford, CCIM, SIOR (713) 744-7436 pwolford@lee-associates.com

civil fair play

Deal or No Deal? - Letters of Intent Lessons from the Enterprise Case BY REID WILSON

How it started: Enterprise Products, a Houston based pipeline developer/operator approached Energy Transfer, a Dallas based competitor, to investigate a shared development transaction to transport oil from the important industry storage center in Cushing, Oklahoma to Houston, thereby eliminating a major logistics bottleneck. They signed the following documents for the proposed “Double E Pipeline”: • Initially, a Confidentiality Agreement to permit sharing of information, with the intention to work toward a letter of intent for the proposed transaction.

A $469,375,000 Million Dollar trial court verdict based on a “letter of intent,” later reversed on appeal resonates in the real estate industry, where letters of intent are commonplace.

• Then, a Letter of Intent with typical non-binding language and an attached “Term Sheet” outlining a proposed 50/50 joint venture pipeline, if sufficient market interest resulted in customer commitments within an "open season" for solicitations. • Shortly thereafter, a Reimbursement Agreement in which they agreed to share costs in "fast tracking" the engineering for the proposed pipeline. What went wrong: The anticipated market was not there, at least at the pricing required for the Double E. After the open season closed, Enterprise terminated the Double E, based on language in the Letter of Intent stating that "no binding obligation is created." Enterprise immediately moved to a similar project with Enbridge, which owned a pipeline from Canada to Cushing, OK, which could be paired with the new pipeline to generate greater market acceptance. Enterprise and Enbridge had met shortly before the end of the open season for the Double E, but deferred substantive discussions until afterward. Energy Transfer sued, claiming a legally binding partnership was created by the Letter of Intent and related documents, and that Enterprise breached its duty of loyalty to its partner, bringing up memories of the infamous Texaco v. Pennzoil case where the court found a binding contract despite Texaco asserting a non-binding letter of intent. What the Letter of Intent said: The letter outlined a potential development transaction, including an attached "Term Sheet" with business terms. It also contained the following typical letter of intent provision:

September 2017

“Neither this letter nor the JV Term Sheet create any binding or enforceable obligations between the Parties and ... no binding or enforceable obligations shall exist between the Parties with respect to the Transaction unless and until the Parties have received their respective board approvals and definitive agreements memorializing the terms and conditions of the Transaction have been negotiated, executed and delivered by both of the Parties. Unless and until such definitive agreements are executed and delivered by both of the Parties, either [Enterprise] or ETP, for any reason, may depart from or terminate the negotiations with respect to the Transaction at any time without any liability or obligation to the other, whether arising in contract, tort, strict liability or otherwise.” The endeavor of the parties was divided in 2 phases: • A preliminary investigation stage to determine if the development was economically viable, to preliminarily design the project, and seek sufficient market commitments. • The development and operation of the project. $469,375,000 Million Trial Court Verdict for Energy Transfer: Energy Transfer pitched the project as a "done deal," and that Enterprise conspired with Enbridge to cut Energy Transfer out of the deal, breaching a duty of loyalty to its partner. The President of Energy Transfer testified that sometime in May 2011, the proposed project became a legally binding joint venture (a type of partnership). The Reimbursement Agreement provided for payments from Energy Transfer to Enterprise, which was legally enforceable. Energy Transfer pointed to well settled Texas Law that a partnership may be created verbally and that only a few terms must be agreed, being: • That the parties will be partners • Each partner has power to participate in management • Each partner must contribute money or property • The partners share profits and losses (not necessarily on an equal basis).

civil fair play

Enterprise insisted that without the satisfaction of the conditions precedent in the letter of intent (which was not contested), there could be no partnership. However, the Trial Court ignored the conditions precedent. Once the jury found a legal partnership, the damages followed, in this case, $469,375,000 million! Why the Appellate Court Reversed: The Appellate Court said that the Trial Court forgot that general concepts of law still apply to partnerships, such as the requirement to satisfy any conditions precedent in the letter of intent. Conditions precedent are any requirement contained in an agreement which must be satisfied. Conditions precedent are common in business agreements. In this case, unless the conditions were waived, there is no partnership. Waiver is the intentional relinquishment of a right. Waiver can be express or implied (by conduct inconsistent with the condition precedent). Energy Transfer stated that there was waiver, but all the examples given were ambiguous, and insufficient. Therefore, Enterprise was vindicated.

sale agreement, usually with extensive and detailed contractual provisions. No party initiates a real estate transaction intending to be legally bound by an outline of a deal in a non-attorney drafted letter of intent. What is scary about the Enterprise case? It should be a wakeup call to the industry to see that a $469,375,000 million verdict was supported by a letter of intent with typical non-binding language, even if you add in the related confidentiality agreement and reimbursement agreement, documents 2 creeping into real estate transactions. Sloppy also drafting of letters of intent and/or inconsistent actions after executing a letter of intent could result in a legally binding agreement between parties who initially expected their business relationship to be better defined by carefully drafted and negotiated contract documents, not a summary document like a letter of intent. Lessons for Letters of Intent:

Was this case unexpected? Yes, but not the Appellate Court's treatment, which is consistent with Texas law, as well as business practices. The Trial Court's judgement was the surprise, given the clear drafting in the letter of intent (and the related and consistent provisions in the other 2 documents). In Texas, a non-binding letter of intent is non-binding, barring waiver by inconsistent conduct (not found in the Enterprise case).

DRAFTING:

Why should the Real Estate Industry care? Letters of intent are pervasive in our industry. Most lease and purchase/sale transactions are initiated by letters of intent of various form and detail. These letters of intent are intended to be non-binding outlines of the business points of a proposed legal transaction. Their use is to save time and cost by focusing the parties on “agreeing” (but not in a legally binding sense) on business terms, so that the parties can then shift to drafting and negotiating the legally binding documents, usually a lease or purchase and

STATE CLEARLY:

• Y ou can't say "non-binding" enough in a Letter of Intent! •U se the title “Non-binding Letter of Intent”. • I nclude the term at the beginning and end of the letter •U se the term in the substantive provisions in the body of the letter. • C onditions precedent to a binding transaction and use the term “conditions precedent.” •N othing is binding until formal transaction documents are signed. • T he letter of intent is to document the investigation of a proposed transaction. •A ncillary documents, like the confidentiality or reimbursement agreement in the Enterprise case,

should be drafted consistent with the non-binding character of the primary letter of intent, even though the ancillary documents have legally binding obligations. ACTIONS AFTER SIGNING A LETTER OF INTENT: •A ct and speak consistent with the non-binding nature of the transaction. • T he terms “proposed”, “prospective”, “possible” should be liberally used. •R efrain from overly optimistic statements which have imbedded assumptions that the deal is complete and only “details” remain. •W atch what is said in email- Remember that email lives forever and will be admissible at a trial! • Don’t waive conditions precedent. • Be limited in public statements. •D on’t announce “We have a deal”. • Watch press releases. BEWARE OF “BACK-UP” DEALS. •B eware of substantive discussions with other parties for the same real estate or leased premises prior to terminating a pending letter of intent. • T hink how actions could look to a jury, even if not legally relevant. Letters of intent serve important functions of outlining proposed real estate transactions before the parties are required to hire lawyers to draft final legally binding transaction documents. However, the Enterprise case shows that if the proposed transaction is terminated by one party, the other might assert the letter of intent and negotiations following constitute a binding deal. Carefully drafting and moderation of actions during the letter of intent period will help insulate parties from legal liability if the letter of intent does not result in a successful transaction. SEPTEMBER 2017

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

CCIM LUNCHEON

Bob Ethington-Director of Research and Economic Development, Uptown Houston Association Takeaway: Uptown Houston, otherwise loosely known as “The Galleria Area”, is equal to Houston’s Central Business District (CBD) in total developed square footage, including retail, office, hotel, and residential [!]. It is equal to the downtowns of Denver, Portland, Cleveland, or Baltimore. Mobility to and within the Uptown area has not yet caught up with the rapid growth. The project currently underway is set to correct these deficiencies. Uptown Houston’s designated area has been expanded to include Memorial Park, which is almost twice the size of Central Park in New York City. Exciting new enhancements are well underway in our park.

BULLET POINTS FROM THE TALK: Uptown: •All real estate sectors in Uptown Houston are booming: in last three or four years Simon has just spent $250 million at The Galleria; large office, residential, and hotel buildings have gone up; and with each addition, large numbers of additional people must come and go within the area

•U ptown Houston hotels generate more hotel revenue than the CBD, which means thousands of trips a day in and out; Uptown has more residential units than the CBD: ditto more daily trips; and the River Oaks District and other retail expansion contribute to additional trips as well • E very work day a population the size of Atlanta commutes into Houston from the suburbs for work or shopping • T he CBD has a highly successful express motor coach park and ride system, but until now these coaches do not stop in the Galleria • T he current project will have these park and ride coaches stop at the NW Transit Center and at the to-be-built Bellaire Transit Center on Westpark, and bus rapid transit light rail-like vehicles will circulate between the two transit centers, giving access to all the workplaces, retail, and shopping in the heart of Uptown…work is well underway, funded by the Uptown TIRZ, TXDOT, and the Federal Government

• A strongly rejuvenated Boulevard will result, with seven rows of large oaks the length of it, lots of flowers, and constantly moving train-like rubber tired buses passing every 5-6 minutes • One-third of the project will be complete by August 2017. • In a separate project, TXDOT will begin later this year the complete rebuilding of the intersection of Loop 610 West and Highway 69. As Ethington said, “this falls into the category of ‘good news AND bad news’”.

Memorial Park: •N ow managed by Uptown, the park is undergoing some exciting upgrades, including a ‘land bridge’ over Memorial Drive connecting the north and south sides; a slightly lengthened jogging trail to an accurate 3 mile length; a new lake; hike and bike access from outside the park; 40 miles of pedestrian trails; 30 miles of cycling trails; 9 miles of mountain bike trails; and 3.5 miles of equestrian trails.

Stop Spinning Your Wheels!

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

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

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

www.PhaseEngineering.com

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

SEPTEMBER FEATURE: CALDWELL KNOWS HOW TO DO IT RIGHT

CENTRAL SOUTH TEXAS

September MONDAY

RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com TABB AUSTIN: tabb.org/austin_chapter.php TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org

BOMA AUSTIN: bomaaustin.org/ BOMA SAN ANTONIO: bomasanantonio.org CBA: cbaaustin.org/ CCIM CENTRAL TEXAS: ccimtexas.com CREW AUSTIN: crewaustin.org CREW SAN ANTONIO: crew-sanantonio.org CTCAR: ctcaronline.com IREM AUSTIN: iremaustin.org IREM SAN ANTONIO: iremsanantonio.org

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY 1

* CREW Austin: Communications Committee 8:00am - 9:00am

*C REW Austin: Programs Committee - 11:45am - 1:00pm

RECA: Ideas Forum Luncheon - 11:15am 1:00pm

* ULI San Antonio: YL Steering Committee Meeting - 11:45am - 1:00pm

ECA: Christmas in October R Committee Meeting - 12:00pm - 1:00pm

BOMA AUSTIN: Meet & Mingle - Dutch Lunch - 11:30am - 12:30pm

IREM Austin: Chapter Luncheon 11:30am - 1:00pm

C TCAR: Commercial Events at the 2017 Texas REALTORS Conference - 8:00am 2:45pm

* IREM San Antonio: Board & Committee Chair Meeting 11:30am - 1:00pm

* RECA: City of Austin Policy & CodeNEXT Committee Meeting - 12:00pm - 1:00pm

B OMA San Antonio: Foundations of Real Estate Management - 8:30am

C TCAR: Property Information Exchange - 7:30am - 9:00am

* CREW Austin: membership Committee

C CIM Central Texas: CI 103: User Decision Analysis For Commercial Investments Real Estate - 8:30am - 5;00pm (Monday - Thursday)

* CREW Austin: Special Events Committee 11:30am

CCIM Central Texas: September Networking Social - 5:30pm

BOMA Austin: BOMI: RPA/FMA/SMA: Managing the Organization 8:00am - 5:00pm

CREW Austin: Grome Around Town Kick-Off Event CREW San Antonio: CREWtini 2017 - 6:00pm - 9:00pm

BOMA Austin: BOMI: RPA/FMA/SMA: Managing the Organization - 8:00am - 5:00pm

IREM Austin: CPM Class - 8:00am 5:00pm

IREM Austin: CPM Class 8:00am - 5:00pm

*R ECA: Regional issues Committee - 12:00pm 1:00pm

CBA: Luncehon 11:30am - 1:00pm

CREW Austin: Networking Luncheon - 11:30am - 1:00pm * CTCAR: Membership Committee Meeting - 2:00pm ECSA: Financial Panel R 7:30am LI San Antonio: Quarterly U Luncehon - 11:30am - 1:30pm

*C REW Austin: Golf Committee - 11:30am

BOMA San Antonio: Lunch & Learn 11:45am

OMA San Antonio: B Monthly Luncheon 11:45am

C REW San Antonio: Sponsor Appreciation Breakfast 8:30am - 10:30am C TCAR: Networking Luncheon - 11:30am - 1:00pm * CTCAR: Communications Committee - 4:00pm - 6:00pm

CCIM Central Texas: 4th Annual Golf Tournament - 11:00am - 7:00pm

TABB San Antonio - Chapter Meeting - 11:30am - 1:00pm ULI Austin: Monthly Breakfast - 7:30am - 9:00am

August 2017

*Members Only

REW San C Antonio: SAWS Rain to Drain Experience Field Trip 8:00am - 5:00pm

SATURDAY BOMA Austin: BOMI: RPA/FMA/ SMA: Managing the Organization 8:00am - 5:00pm

SATURDAY

B OMA Austin: 2017 Monthly Membership Luncheon -11:30am - 1:15pm * CREW Austin: Community Outreach - 11:30am

IREM San Antonio: Bowling - 2:30pm 5:00pm

* RECA: Charity Golf Classic Committee meeting - 12:00pm - 1:00pm T ABB Austin: Chapter Meeting - 11:30am - 1:00pm

* CREW Austin: Careers Committee - 12:00pm - 1:00pm

U LI San Antonio: FY18 Mentorship Program Kick-Off event - 5:30pm - 7:00pm

IREM San Antonio: Lunch & Learn 11:30am - 1:00pm

B OMA Austin: Networking Say Goodnight Summer Tiki Party - 4:30pm - 7:30pm

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

CENTRAL SOUTH TEXAS NETWORKING/SOCIAL 7th Annual CREW Movie Mixer

L to R: Mandy Jones, Mychel Jordan, Wyatt Stevenson, Gloria Contreras

L to R: Amie Reynolds, Jacob Myers, Kara Myers

L to R: Christine Krueger, Richard Alexander, Yolanda Mason, Betty Lagred

CREW San Antonio -Sponsorship 2017 4th Annual

Central Texas CCIM Chapter

Golf Tournament

Wednesday, September 27, 2017

11am Registration | 12pm Shot Gun Start Location: Flintrock Falls Country Club in Lakeway Dinner & Awards immediately following Entry Fee: CCIM Members – $125 per individual Non-Members – $150 per individual

L to R: Yesenia Dominguez, Delma Pacheco, Deborah Bauer, Laurie Montgomery, Novie Allen & Chisty RhoneCenter: Katherine Howe Frilot

Tournament Partner

includes green fees w/cart, driving range, box lunch and dinner. Mulligans sold at course ($10 each) Limit two per person Florida Scramble Shotgun Start • Soft spikes and dress code enforced Limited to first 144 players

2-Hour Golf Clinic - $50 per individual Clinic will include the fundamentals of golf, rules and etiquette with Ron Miller, PGA Director

Tournament benefits Central Texas Chapter CCIM Scholarships

Promotional Partnerships/Advertising Opportunities Available! Opportunities are available on a first-come, first-served basis. Promotional Partners may donate materials to the player goodie bags but must have materials to the Gayle Berkbigler’s office by September 2nd.

L to R: Dena Welch, Dawn Vernon, Jon Judge, Jennifer Bailey and Dawn McCurry

Premium Partner ($2,000) - SOLD OUT Registration Table Partner ($750) - SOLD OUT Dinner Partner ($500) Door Prize/Award Partner ($500) Beverage Station Partner ($500) Lunch Partner ($400) Men’s Longest Drive ($400)* Women’s Longest Drive ($400)* Putting Green Contest ($500)* Straighteset Drive ($400) Closest to the Pin Partner ($400)* Clinic Partner ($500) Hole in One Partner ($400)* Hole Partner ($350)

1 Available 1 Available 3 Available 1 Available 4 Available 3 Available 1 Available 1 Available 1 Available 1 Available 1 Available 1 Available 3 Available 13 15 Available

All promotional partnerships include dinner for two representatives. Additional attendees: $25/person. *Includes prize for winner Registrations, promotional partnerships/advertising and additional dinner tickets may be reserved by contacting Gayle Berkbigler 512.844.4653 or Mary Marcum at admin@ccimtexas.com or 512.222.1743. REGISTER NOW, visit www.ccimtexas.com

BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS: ccimconnect.com/ CORENET NORTH TEXAS: northtexas.corenetglobal.org CREW DALLAS: crew-dallas.org CREW FORT WORTH: crewfw.org GFW AR: gfwar.org IREM DALLAS: irem-dallas.org IREM FORT WORTH: fortworthirem.org

NORTH TEXAS

September MONDAY

TUESDAY

WEDNESDAY

LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR GFW: gfwar.org/home-top-commercial.html TABB DALLAS/FORT WORTH: tabb.org/dallas_ ft_worth_chapter.php TREC DALLAS: recouncil.com REC GFW: recouncilgfw.com ULI NORTH TEXAS: northtexas.uli.org

THURSDAY

FRIDAY 1

TREC: Power Hour Tour of Hilti Product Development Site 5:00pm

NTCAR: Commercial Real Estate & Developers Expo - 4:00pm - 8:00pm TREC: ALC Chairmanâ&#x20AC;&#x2122;s Reception - 5:30pm

CREW Fort Worth: Luncheon - 11:30am * CREW Fort Worth: Treasury Committee Meeting - 1:00pm - 1:30pm

G FWAR: Texas REALTOR Conference

GFWAR: Texas REALTOR Conference

* BOMA Fort Worth: Education Committee Meeting - 10:00am 11:00am

SATURDAY

BOMA Dallas: Toby Call for Tour Judges - 7:00am

* TREC: Public Policy Committee Meeting - 7:30am

BOMA Dallas: BOMI Course - 5:00pm 8:00pm

GFWAR: Texas REALTOR Conference

BOMA Fort Worth: Luncheon - 11:30am 1:00pm * BOMA Fort Worth: Allied Panel Discussion - 1:30pm - 2:30pm

* BOMA Dallas: Engineer Lunch & Learn - 11:30am - 1:00pm

T REC: Capital Markets: A Global View - 7:00am

OMA Dallas: BOMI Course B 5:00pm - 8:00pm

BOMA Dallas: Luncheon - 11:00am - 1:00pm

TREC: Young Guns New Member Coffee - 7:30am

TREC: RE101 - 11:00am

CREW Dallas: Luncheon 12:00pm - 1:00pm

CCIM North Texas: CI 101: Financial Analysis 8:30am - 5:30pm

TREC: Board of Directors Meeting - 5:00pm

* BOMA Fort Worth: Board Meeting - 12:00pm 1:30pm

CCIM North Texas: CI 101: Financial Analysis - 8:30am 5:30pm REW Dallas: New Member C Orientation - 8:30am - 9:30am CR GFW: Commercial Real Estate S Summit - 8:00am - 5:00pm

August 2017

BOMA Dallas: TOBY Judges Training CCIM North Texas: CI 101: Financial Analysis - 8:30am - 5:30pm

CORENET North Texas - Capital One Tour - 4:30pm - 7:30pm TREC: Young Guns About TownM Line Tower Tour - 5:30pm CR GFW: Commercial Real S Estate Summit - 8:00am - 5:00pm

* Members Only

* CREW Fort Worth: Membership Committee Meeting - 11:45am - 1:00pm

TREC: Luncheon 11:30am

BOMA Fort Worth: Topgolf FW - 5:00pm - 8:00pm

CREW Fort Worth: 2017 CEW, Brews & BBQ - 5:30pm

OMA Dallas: Seminar: B phases of Construction 8:00am - 10:00am

I REM Dallas: Luncheon 11:30am - 1:15pm

* BOMA Fort Worth - GAC meeting 1:30pm - 2:30pm

* CREW Fort Worth: Communications/PR Committee Meeting - 10:00am - 10:30am

B OMA Dallas: Gala Happy Hour! Gift Card Collection - 5:30pm - 7:30pm

CCIM North Texas: Luncheon 11:30am - 1:00pm IREM Fort Worth: Networking Luncheon - 11:30am - 1:00pm

CCIM North Texas: CI 101: Financial Analysis 8:30am - 5:30pm

OMA Dallas: Toby Call B for Tour Judges 7:00am

TCAR: Industrial Tour: N Great Southwest - 10:00am - 2:00pm NAIOP: Breakfast Meeting * CREW Fort Worth: New Member Breakfast & orientation - 7:30am

BOMA Dallas: Fall Adopt -A-Book 8:00am - 5:00pm

CREW Dallas: An Evening of Outstanding Achievement - 6:00pm - 10:00pm TABB Dallas/ Fort Worth: Chapter Luncheon - 11:30am - 1:00pm REC GFW: 2017 Panther City Dodgeball Tournament - 5:00pm - 8:00pm

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

BOMA DALLAS AUGUST LUNCHEON

BOMA DALLAS

BOMA DALLAS BOARD OF DIRECTORS AND STAFF LEADERSHIP TRAINING

NORTH TEXAS NETWORKING/SOCIAL TREC DALLAS

YG FOUNDATION WORK

L to R: Blake Curry, Paula Beebe, Melinda Herring

CREW DALLAS AUGUST LUNCHEON

L to R: Ashla Kinnaman, Leigh Richter

L to R: Mike Berry, Suzanne Brasuell, Amy Lezon, Katie Morrow

L to R: Melissa McNair, Stephen Davis, Sharon Herrin

ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com

SOUTHEAST TEXAS

September MONDAY

TUESDAY

WEDNESDAY

GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org

THURSDAY

FRIDAY 1

CREW Houston: September Luncheon 11:30am - 1:00pm

ULI Houston: 7th Annual Sporting Clay Classic - 11:00am - 5:00pm

CREN: Luncheon 11:00am - 1:00pm

L P

CCIM / AREAA: Joint Social - 5:00pm - 7:00pm

CORENET Houston: Breakfast: The Future of the Astrodome 7:30am - 9:00am

BOMA Houston: September Membership Lunch - 11:00am

C.R.E.A.M: September Luncheon - 11:00am

IREM Houston: September Luncheon - 11:30am - 1:00pm

CCIM Houston: September Luncheon 11:30am

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

CREN: Marketing Session 7:30am

GREATER HOUSTON PARTNERSHIP: 2017 State of the Airports - 11:00am 1:30pm HAA: Woodlands Happy Hour - 4:00pm

FBSCR: Monthly Breakfast Meeting 8:00am - 9:00am

IREM Houston: Course: Marketing & Leasing for Office Buildings - 8:00am - 5:00pm

NAIOP Houston: September Luncheon 11:00am - 1:00pm

IREM Houston:Course: Marketing & Leasing for Office Buildings - 8:00am 5:00pm O'Connor Office Forecast: Luncheon - 11:30am - 1:00pm

HAA: Lake Jackson Happy Hour 4:00pm IREM Houston: Course: Leading a Winning Property Management Team 8:30am - 5:00pm

GREATER HOUSTON PARTNERSHIP: Business Development: September Meeting - 8:30am - 10:00am

ACRP: 3rd Community Initiative -

IREM Houston: Course: leading a Winning Property Management Team - 8:30am 5:00pm

SATURDAY

ACRP: Happy Hour Oktoberfest - 5:00pm - 7:00pm

* ULI Houston: Green Infrasturcture 7:30am - 9:30am

CCIM Houston: Partner Appreciation Event 5:00pm

CREN: Happy Hour - 4:30pm TABB Houston: Luncheon 11:30am - 1:30pm

September 2017

* Members Only

The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.

L B

ACRP/SIOR

BREAKFAST PRESENTATION

SOUTHEAST TEXAS NETWORKING/SOCIAL

L to R: Ted Jones, Jason Cooper

CCIM HOUSTON

L to R: Kit Dolan, Billy Schlageter , Mark Calvo

CRISIS MANAGEMENT TRAINING

LUNCHEON

L to R: Janae Evans, Joe E. Evans, George N. Polydoros

CREAM

IREM HOUSTON

L to R: â&#x20AC;&#x201C; Erin Holland, Patrick Timlin, Mark Wright, Heather McMillon

L to R: Mike Gornek, Li-Shen Kline

LUNCHEON

L to R: Jasmine Sadeghpour, Gene Johnson, Ryan Brenner

L to R: Greg Usher, J.J. Hollie, Attorney Stuart Lapp

2017 Annual TABB Convention/Trade Show

Buying, Growing, Selling Businesses October 4th & 5th

WYNDHAM WEST

Each round table took a deep-dive into how best to handle example crisis scenarios at a building

MARK YOUR CALENDARS Breakfast Meetings are held on the 3rd Tuesday each month 7:45 - 9:00 a.m.

One Fluor Daniel Dr. Sugar Land, TX 77478 (281) 242-0000

Meetings are targeted to commercial realtors and include networking, lead sharing, haves/wants, and regular speakers covering real estate related topics pertinent to the greater southwest Houston area including communities of Sugar Land, Missouri City, Stafford, Richmond, Rosenberg and Fulshear. Come join us!

HOUSTON ENERGY CORRIDOR

14703 Park Row, Houston, TX 77079 All TABB Chapters are participating; Houston, Dallas, Fort Worth, Austin and San Antonio

www.tabb.org

www.fbscr.com If you have any questions, please contact: Jackie Wilcox (281) 275-4448

CENTRAL SOUTH TEXAS bulletin

AUSTIN, TX HOTEL DEVELOPMENT Austin-based real estate investor David Kahn is hoping to construct “Spicewood Lodge” on an 11.4 acre tract at 6315 Spicewood Drive which he proposes to have the ambiance of a National Park Service lodge. He is getting push back from the Bull Creek Foundation and is hoping to reach a compromise with the group for city approval of the project. HOTEL RENOVATION & EXPANSION OMNI Barton Creek Resort & Spa will start construction this fall on a $70 million expansion that will increase its room number by nearly 60%. They are demolishing a parking garage & will replace it with a 10-story tower with more than 100 guest rooms & new parking. Construction should be complete in 2019.

Photo Courtesy Lynd Development Partners

AUSTIN, TX OFFICE/APARTMENT DEVELOPMENT The Lynd Company of San Antonio & Lincoln Property Company have proposed a 60 -75 story office/apartment development at 600 Guadalupe Street. The building would have more than 500,000 sf of office space & 300-plus luxury apartments plus ground-floor retail.

Connor Greissing joined Stream Realty’s tenant rep group.

MUTI-FAMILY HIGH RISE DEVELOPMENT Austin-based Riverside Resources & Ironwood Real Estate Investment firm are planning a 44-story highrise at 300 Colorado Street which includes the demolition of Sullivan’s Steakhouse. The development will include 315 rental units as well as 8,700 sf of street-level retail/ restaurant space that will include Sullivan’s. OFFICE DEVELOPMENT Cielo Property Group purchased 36,000 sf of effectively vacant land in the 1600 block of Sixth Street. They are proposing to build an office structure with ground floor retail & a small restaurant. OFFICE LEASE Walsh Gallegos Trevino Russo & Kyle PC leased 21,179 sf in Centennial Towers at 505 E. Huntland Drive. Matt Levin & Jason Steinberg with ECR represented the landlord & Russell Young with CBRE represented the tenant. OFFICE LEASE Exodus Intelligence, a cyber security company, leased 5,586 sf at 1608 W. Sixth Street. Jeff Bodenman & John Baird of Avison Young represented the landlord & Matt Wilhite & Jon Wheless of Aquila Commercial represented the tenant. OFFICE SALE Menlo Equities purchased the 251,143 sf office building at 3900 San Clemente from HPI Real Estate. HFF handled the transaction.

Hunter Mills, Carrie Caesar & Todd Mills have joined Cushman & Wakefield

SEPTEMBER 2017

RETAIL LEASE Easy Holly LLC has leased 3,580 sf at 417 Red River Street inside the city-owned garage adjacent to the convention center for Central District Brewing. It is expected to open sometime in 2018.

AUSTIN/ SAN ANTONIO, TX

MULTI-FAMILY SALE Harmony Housing, a non-profit affordable housing owner & investor, purchased a 862-unit Texas portfolio including the 218-unit Parkside Crossing at 3400 Shoreline & the 260-unit Limestone Canyon project at 12118 Walnut Park Crossing and in San Antonio, the 384-unit Sendero Ridge project at 2424 Gold Canyon Drive.

GEORGETOWN, TX

SCHOOL CONSTRUCTION AR3K Holding LLC purchased a 17 acre tract of land in Rancho Sienna, a new master-planned community at State Highway 29 & Ronald Reagan Blvd for the construction of a 12,500 sf preschool & day care center. RETAIL CONSTRUCTION Heavy equipment supplier Holt Caterpillar plans to construct a 60,000 sf retail center at 2101 Airport Road north of Lakeway Drive & I35 by the end of 2018.

HUTTO, TX

INDUSTRIAL DEVELOPMENT Titan Development plans to construct a 1,000,000 sf project in Innovation Business Park across from the East Williamson County Higher Education Center. The first phase will include a 150,000 sf facility followed by five more buildings.

NEW BRAUNFELS, TX

OFFICE DEVELOPMENT Koontz Corporation has broken ground on Sundance Plaza which will include a 120,000 sf Class A office development. The first phase will be 58,574 sf & should be complete first quarter 2018. The project is located within Sundance Park master-planned development at 2049 Sundance Parkway.

ROUND ROCK, TX

INDUSTRIAL DEVELOPMENT Mississippi-based EastGroup Properties is constructing two industrial properties to the north of Old Settlers Blvd., east of North Mays Street & west of Sunrise Road. The buildings will include 76,819 sf & 82,827 sf. The project is scheduled to be completed before December 31, 2018.

SAN ANTONIO, TX

BUSINESS PARK DEVELOPMENT ALC-Partners & Pruitt Realty Partners are developing a $100 million sf business park on 21 acres at 4830 N. Loop 1604W called Pinnacle Oaks Tech Center. The project will include three Class A office buildings & a flex office. Phase one completion is scheduled for first quarter 2018. MEDICAL OFFICE SALE A partnership between Washington D.C.-based Artemis Real Estate Partners, Atlanta-based Ackerman & Company & Boston-based MLL Capital purchased the 129,000 sf

Santa Rosa Professional Pavilion & the 123,000 sf Rosa Verde Tower near The Children’s Hospital of San Antonio. They also purchased two towers totaling 172,000 sf on Babcock Road in the South Texas Medical Center. MIXED-USE DEVELOPMENT Austin-based Teeple Partners is developing Kallison Square, a 21-story development at Dolorosa, Nueva, & S. Flores Street which will include a residential/retail tower & an office tower. The retail/office will have approximately 45,000 sf & the residential side will have 305 units. The project will include a six-story parking garage. MULTI-FAMILY SALE Huebner TX Owner LP, a partnership linked to Carlyle Group & Cortland Partners purchased the 376 unit Preserve on Fredericksburg apartment complex located at 10422 Huebner Road from a partnership affiliated with Crow Holdings. MULTI-FAMILY/RETAIL DEVELOPMENT Argyle Residential has received approval for the development of a 150-unit apartment complex with 5,100 sf of retail space at 5514 Broadway Street. The project will also include 259 off-street parking spaces. OFFICE SALE USAA Real Estate Company purchased the 10-story, 534,000 sf Bank of America Plaza which is across the street from One Riverwalk Place. Houston-based Patrinely Group was a minority partner in the acquisition. OFFICE/OFFICE MEDICAL DEVELOPMENT JLL is building two offices buildings in the mixed-use Brooks development. The Water Building will have 70,000 sf & the second building will be a 40,000 sf medical office building located close to Trail Baptist Hospital. Projected completion is 2018. RETAIL SALE El Paso-based MIMCO Inc has acquired the 100,000 sf retail center located at 5530 Walzem Road. Tenants include Melrose Clothing, Freedom Fitness, Octaphama & Taco Bell.

SCHERTZ, TX

INDUSTRIAL SALE HPI Real Estate Services & Investments purchased the newly completed 214,500 sf distribution center located at 9850 Doerr Lane.

WESLACO, TX

LOGISTICS FACILITY CONSTRUCTION Ci Logistics Group, a cotton-focused import-export logistic service company is building a 210,000 sf facility, relocating from their current location in Mission, Texas.

DALLAS, TX INDUSTRIAL LEASE Illinois Capital Partners has leased 115,000 sf of industrial space located at 3912 W. Illinois Avenue to ErectA-Line Inc., a 45 year-old family company. Corbin Blount & Nathan Denton with Lee & Associates represented the tenants & Ken Wesson & Christine Vasily with Lee & Associates represented the landlord. MIXED-USE DEVELOPMENT Dallas-based restaurateur & entrepreneur Mike Hoque purchased around 15 acres located on Corinth Street at Cesar Chavez Blvd. The purchase includes the shuttered Pilgrim’s Pride plant which closed in 2011. Hoque plans to redevelop the land as a mixed-use project. MIXED-USE SALE Los Angeles-based CIMG has bought Turtle Creek Village which is a mixed-use property with an 18-story office building & a 95,000 sf grocery-anchored retail center on a site bound by Oak Lawn Avenue, Black Burn Street & Irving Avenue from a joint venture led by Dallas-based Lincoln Property Cos., which completely redeveloped the property three years ago. OFFICE SALE TPG Preston Plaza LP bought the 260,000 sf Preston Plaza tower located at the intersection of Preston & Frankford roads in North Dallas from Caddo Holdings. Eric Mackey, Gary Carr, John Alvarado, Jared Chua & Robert Hill with CBRE represented the seller & Tanglewood Property Group represented the buyer. RETAIL SALE Florida-based Foundry Commercial & San Francisco-based Stockbridge purchased Northview Plaza, an 116,099 sf retail center. The groceryanchored property is located at 19674 E. Northwest Hwy. & was 86% leased at the time of the sale.

DENTON, TX RETAIL LEASE HomeGoods Inc leased 23,013 sf of retail space located at 1400-1800 S. Loop 288. David Levinson & Jack Weir with The Retail Connection represented the landlord & Robert Aycook with CBRE represented the tenant. RETAIL SALE Inland Real Estate Acquisition Inc. purchased the 46,300 sf Denton Village Shopping Center which is located at 2341 Hickory Creek Road & is anchored by Sprouts Farmers Market. Tenants at the center include Pet Supermarket, Domino’s Pizza, T-Mobile & Hollywood Nails.

FLOWER MOUND, TX OFFICE / WAREHOUSE LEASE IPT Lakeside Corporate Center LLC leased 42,596 sf of office and

warehouse space located at 1200 Lakeside Parkway to Renaissance Repair & Supply Inc who plan to build out a 10,000 sf static-free lab. Steve Trese & Wilson Brown with CBRE represented the landlord & Brian Pafford with Bradford Commercial Real Estate represented the tenant.

FRISCO, TX LUXURY APARTMENT COMMUNITY SALE Fort Worth based Olympus Property has bought a 282-unit luxury midrise apartment community along the Dallas North Tollway within Frisco’s touted ‘$5 Billion Mile’ site near Toyota Stadium. RETAIL CONSTRUCTION Lesso America Inc, a subsidiary of China Lesso Group Holdings Ltd, bought two tracts of land totaling 76 acres along the U.S 380 corridor for a massive retail hub.

GARLAND, TX SENIOR LIVING DEVELOPMENT An upscale senior living community has begun near Garland’s Firewheel Golf Park, The four-story, 154-unit community called Firewheel Senior Living Residences located at 5151 N. President George Bush Hwy. will total 171,572 sf of living space. The property is slated for completion by year-end 2018.

GRAND PRAIRIE, TX INDUSTRIAL SALE Flex-N-Gate Corp. purchased a 430,188 sf industrial building located at 1950 Bardin Road from Mohr Capital

IRVING, TX HOTEL SALE The Buccini/Pollin Group bought the 302-room Sheraton DFW Airport Hotel located at 4440 W. John Carpenter Fwy for $46 million. The hotel, which also includes 25,000 sf of meeting space, recently received $7 million in upgrades.

LANCASTER, TX E-COMMERCE LEASE Boston-based Wayfair Inc, online furniture retailer leased a build-tosuit, 870,000 sf e-commerce hub on a development site near Interstate 35 & Interstate 20 from Duke Realty Corp.

LEWISVILLE, TX RETAIL SALE Dallas-based LRIC Properties LLC bought the 106,573 sf Valley Square Shopping Center located at 722-724 W. Main St. Weitzman represented the unknown seller.

NORTHLAKE, TX INDUSTRIAL LEASE Allen Distribution leased 349,425 sf at Northport 35 Business Center

located at 4250 Dale Earnhardt Way to Allen Distribution. Elizabeth Jones with JLL represented the tenant and Cannon Green, Bob Hagewood and Forrest Cook with Stream Realty represented the landlord.

PLANO, TX

NORTH TEXAS

bulletin

INDUSTRIAL / OFFICE SALE Farmers Branch-based Angel Cellular bought a two-story, 127,680 sf building in the Shiloh Commerce Center located at 620 Shiloh Road. The high tech firm & its affiliated hotel management company, Addison-based Angel Hospitality will occupy the office building. Capstone Commercial & CBRE negotiated the sale. OFFICE CONSTRUCTION Plano-based Heady Investment in partnership with Scott Beatty & the Beatty family will develop the 210,000 sf Legacy South Office Center located at the SWC of Tennyson Pkwy. & the Dallas North Tollway. Construction is slated to begin by the end of the year. OFFICE LEASE SOLiD Inc, a Korean-based wireless equipment provider leased 48,526 sf of office space at its new corporate headquarters which is located at 800 Klein Road. Misti Miggs & Tim Sullivan with Mohr Partners Inc represented the tenant.

RICHARDSON, TX OFFICE SALE Property Reserve Inc, a real estate firm & investment arm of the Mormon Church purchased the 3-building, 500,000 sf office complex located on Bush Turnpike east of Plano Road for $1.5 billion from Dallas based developer KDC.

MCKINNEY, TX CORPORATE CAMPUS DEVELEPOMENT Independent Bank Group plans to build a $52 million corporate campus at the McKinney Corporate Center in Craig Ranch located at State Highway 121 & Grand Ranch Parkway. Construction is slated to begin before May 2018

Thom Ridnour has joined CBRE’s Office Agency Leasing team in Dallas as a Senior Vice President.

THE COLONY, TX MIXED-USE DEVELOPMENT The development group behind the Warren Buffet-backed Grandscape development has named Merriman Anderson/Architects to help with the design of the 433-acre mixed-use development which will total 3.9 million sf of hospitality, entertainment, retail & residential space near the Sam Rayburn Tollway & Plano Parkway. The initial phase of the project is slated to open by the end of next year.

TERRELL, TX RETAIL CONSTRUCTION The development group Schulman Theatres & Oakridge Investments, has started building a 74,000 sf multi-venue concept called Film Alley which is an entertainment destination with everything from an 8-screen theatre to a 24-lane bowling alley adjacent to the new Buc-ee’s Travel Center at Crossroads at Terrell and is located at the NWC of Interstate 20 & FM 148. Film Alley is slated to open in September 2018.

Mike Watson has joined Fidelis Realty Partners as Vice President of Leasing.

Construction veteran Juan Rodriguez has joined Structure Tone Southwest’s Dallas office as Vice President of New Construction.

SEPTEMBER 2017

SOUTHEAST TEXAS bulletin

HOUSTON, TX

HOSPITAL DEVELOPMENT CHI St. Luke’s Health has signed on as the first health care provider for Vivacity, the medical district within the master-planned community Valley Ranch located between the Grand Parkway & I69/US59. HOSPITAL SALE HCA Healthcare Gulf Coast Division has completed the purchase of Tomball Regional Medical Center, Hosuton Northwester Medical Center, Cypress Fairbanks Medical Center Hospital, Park Plaza Hospital & Plaza Specialty Hospital. The purchase was made from Tenet Healthcare. HCA now manages 15 community hospitals across the area.

Photo Courtesy LyondellBasell

CHANNELVIEW, TX PETROCHEMICAL PLANT CONSTRUCTION LyondellBasell plans to build a $2.4 billion plant for making propylene oxide & tertiary butyl alcohol which will become the largest factory of its kind in the world. It will be located near their Bayport facility close to the Houston Ship Channel & should come online in 2019.

Charles Hazen has joined Transwestern to lead its investment division.

Clint Hankla has joined Lee & Associates as a director.

INDUSTRIAL LEASE ProEnergy Services, an energy industry services provider, leased 47,500 sf at 8303 McHard Road. Mark Nicholas, Richard Quarles & Joe Berwick of JLL represented the landlord & Drew Coupe & Josh Morrow of Stream Realty represented the tenant. INDUSTRIAL LEASE Houston-based Basintek LLC, a drilling manufacturer, increased their space from 150,000 sf to 200,000 sf at 713 Northpark Central Drive. Nick Peterson & John Ferruzzo with NAI Partners represented the tenant & Bryan O’Hair with Prologis represented the landlord. INDUSTRIAL SALE ATCAP purchased three industrial buildings totaling 101,635 sf at 3300 Claymore Park, 9362 & 9366 Wallisville Road from TA Realty. HFF represented the seller. INDUSTRIAL SALE Cabot Properties purchased the 415,000 sf Techway Southwest located on Bissonnet Street near Beltway 8 for $33 million. EastGroup Properties was the seller and was represented by Jack Fraker, Randy Baird, Heather McClain Venegoni & Tom Lynch of CBRE. INDUSTRIAL SALE Exeter Property Group purchased Bammel Business Park, a 356,450 sf industrial project including five buildings located at 4719-4822 N. Sam Houston Parkway West. MULTI-FAMILY HIGH RISE CONSTRUCTION Trammell Crow Company’s High Street Residential division has received an extension on its agreement with the Downtown Living Initiative to build a 40-story project near Discovery Green. Construction is expected to begin early 2018. Camden Property Trust plans to break ground on its 21- story Camden Downtown Apartment project at LaBranch, Bell, Austin & Pease in fourth quarter 2017. MEDICAL OFFICE SALE Inland Real Estate Acquisitions acquired the 34,600 sf Houston Hospital for Specialized Surgery located at 5445 La Branch & the 37,000 sf Surgical Institute located at 8111 Southwest Freeway.

SEPTEMBER 2017

MIXED-USE DEVELOPMENT Caydon Property Group purchased 41,000 sf at Main, Dennis & Fannin streets from PLC Capital Corporation. The property had been utilized by The Greensheet. Caydon plans to redevelop the four story building into mixed-use office, retail, bar & rooftop event space. OFFICE LEASE London-based Spender Ogden has relocated to 12,000 sf in GreenStreet at 1201 Fannin. Bill Boyer & Collin Grimes of CBRE represented the tenant & Damon Thames, Connor Saxe & Vince Drake with Colvill Office Properties represented the landlord. OFFICE LEASE EDF Trading North America leased 60,000 sf at 601 Travis relocating from their previous office in northwest Houston. Matt Dickson & Kevin Kushner of CBRE represented the tenant & Paula Bruns & Michael Anderson with Colvill Office Properties represented the landlord. OFFICE SALE Insite Commercial Real Estate purchased Intellicenter, a 160,407 sf office building at 4650 Westway Park Blvd from Phoenix Property Company. Trent Agnew, Dan Miller & Dane Peterson of HFF represented the seller. RETAIL SALE Global Plaza Union is purchasing the Greenspoint Mall with plans to redevelop the property as a mixeduse project. Sears, Macy’s & Dillards own their department stores & must agree to sell their building before redevelopment begins. Fen Gao, a Chinese real estate developer with WIT Union is the primary investor in the development. RETAIL SALE Westwood Financial Corp purchased the 101,791 sf Market at Lake Houston, a HEB-anchored center at 7402 FM 1960 East. Rusty Tamlyn & Ryan West of HFF represented the seller. RETAIL SALE Dallas-based Dunhill Partners purchased the 167,704 sf Center at Pearland Parkway I located at FM 518 & Pearland Parkway. Rusty Tamlyn & Ryan West of HFF represented the seller, Stream Realty & Thackery Partners. VACANT LAND SALE Houston-based Rockspring Capital purchased a 7 acre tract on Dacoma Street adjacent to the Brookhollow Shopping Center located at US 290 & Dacoma which is being developed by Fidelis Realty Partners. The seller was a partnership affiliated with Fidelis Realty & Houston real estate investor Khaled Salem of Williamsburg Enterprises.

LA PORTE, TX

INDUSTRIAL DEVELOPMENT Denver-based DCT Industrial Trust Inc is constructing a two-building, 252,000 sf industrial park near SH 225 off Sens Road called DCT PetroPort Industrial Park.

The buildings will include 163,000 sf at 860 Sens Road & 89,000 sf at 850 Sens Road.

MONT BELVIEU, TX

HEB will anchor Mont Belvieu Marketplace with an 87,000 sf store in the new retail development being developed by Fidelis Realty Partners. The project is located at I10 & FM 3180/Eagle Drive.

PASADENA, TX

RESTAURANT CONSTRUCTION Fairplay Partners Ltd sold eight acres at Beltway 8 & Vista Road to Glaser Retail Partners for the development of four restaurants in the “Pasadena Pavilion”. The restaurants include Rassoo’s Cajun Café, Red Robin, Chuy’s & Outback Steakhouse.

PEARLAND, TX

RETAIL DEVELOPMENT NewQuest Crosswell sold a 3.5 acre site on the west side of SH 288 near Medical Center Drive in the Reserve at Shadow Creek Development to Rooms to Go for the construction of a 39,000 sf store. SELF-STORAGE CONSTRUCTION Houston-based developer GreenSpace Holdings is constructing a 1,017 unit self-storage facility on two acres of land at 2515 Westminister Road. The 95,565 sf project will be three stories & is being constructed utilizing shipping containers. GreenSpace also purchased 2 acres at Brittmoore Road & I10 where they plan to build another such project with 132,967 sf and 1,401 units. RESTAURANT LEASE Houston-based Peli Peli Restaurant Group leased the building at 2445 North Freeway formerly owned by Houston Food Bank and now owned by Virgata Property Company. Peil Peli will utilize the building as a commissary & catering kitchen for its multiple locations.

SEABROOK, TX

MULTI-FAMILY SALE Miami-based Lloyd Jones Capital purchased the 240-unit Regatta Bay Apartments located at 2555 Repsdorph Road from FRBH Regatta Bay.

SUGAR LAND, TX

INDUSTRIAL LEASE San Francisco-based rooftop solar panel company, Sunrun Inc leased 12, 150 sf in the Sugar Land Business Park located at 12560 Reed Road at Industrial Blvd. Barkley Peschel & Trey Erwin of Colliers handled the lease. OFFICE MEDICAL CONSTRUCTION TierOne Development is constructing a 38,600 sf office/ medical building at 7619 Branford Place. Tim Gregory & Ashley Casset with Transwestern’s Healthcare Advisory Services are handling leasing for the building.

ADVERTISER INDEX A. A. Realty Company 32 Avison Young 1, 14 Berkadia 2,3 Caldwell Companies 13 CCIM Central Texas 41 Excel Commercial Real Estate 30 FBSCR 45 Garver Real Estate 19 Gil Ramirez Properties, LLC 31 Gordon Partners 8, 9 Greenberg & Co. 17 Hankamer Commercial Brokers, LLC 25 Homeland Properties, Inc. 33 Houston Partners Realty 26, 27 IREM Austin 36 JLL 7 Land Advisors Organization 37

classifieds & index Levcor, Inc. 17 Marcus & Millichap 25 National Environmental Services, LLC 51 NT CCIM 43 Old Mill Properties 19 Phase Engineering 38 Plus Corp Photography 25 Premier Property Services, Inc. 19 Showalter Law 49 TABB 45 Tarantino Properties 23 TD Waterproofing 5 Texas CRES,LLC 33 The J. Beard Company 21 The Signorelli Company 15 Wendy Cline Properties 29 Williamsburg Enterprises 52

In Next Month's Issue... Property Taxes

North Texas CCIM Chapter

EMAIL BLAST PACK AGES EMAIL BLAST PACK AGES Standard email blast packages (regularly priced at $245 per email blast): 4 Blast Package - $880

Standard email blast packages (regularly priced at $245 per email blast): 6 Blast Package - $1,188 Blast Package Package -- $880 104Blast $1,500 6 Blast Package - $1,188 10 Blast Package - $1,500

Priority Schedule email blast packages (same time every week): 20 Blast Package (60 day duration) – $2,800 - $140 per blast 40 Blast Package (120 day duration) – $5,200 - $130 per blast 20 Blast Package (60 day duration) – $2,800 - $140 per blast 40 Blast Package (120 day duration) – $5,200 - $130 per blast

Priority Schedule email blast packages (same time every week):

Contact: Rahul Samuel at emarketing@rednews.com Priority Schedule email blast packages with Priority Schedule Social Media bonus email blast packages with 4Social Blast Package $1,080 Media–bonus 6 Blast Package – $1,488

4 Blast Package – $1,080 Protecting Property Owner’s Rights 106 Blast $1,900 Blast Package Package –– $1,488 20 10Blast BlastPackage Package––$3,300 $1,900 40 Blast Package 20 Blast Package––$5,800 $3,300

Eminent Domain

40 Blast Package – $5,800Website, Newsletter) (Facebook, Twitter, LinkedIn, (Facebook, Twitter, LinkedIn, Website, Newsletter)

For more information contact: JP@rednews.com or Bri@rednews.com Compensation for Roads • Pipelines • Power Lines For more information contact: JP@rednews.com or Bri@rednews.com

www.ShowalterLaw.com

281-341-5577 • Info@ShowalterLaw.com

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

O'Connor Land Forecast Luncheon Simmi Jaggi - Jones Lang LaSalle

Houston fundamentals: • 6.5 million population now, with 8.7 million expected in only 13 years-a huge projected growth-this bodes well for future retail since it 'follows rooftops"... however...some retailers are still 'figuring it out' Simmi Jaggi with respect to online vs. brick and mortar sales going forward • Oil & gas are still our major industries, but they are 'defining' our economy less and less Office: • There is 22% vacancy but with an overhang of 11 million SF of sub-lease space, which, as it comes back on the primary lease market, may delay return to equilibrium for as much as ten years into the future

Retail: • 5% vacancy-very healthy sector • Retailers don't know if the future will be 'click it and ship it" or "come on in the store and shop around"retailers are 'looking for definition' for their future • The NW sector of the Grand Parkway has spurred strong retail development since that is where a lot of the homebuilding is taking place Residential: • Steady, especially in the NW and South along 288 Industrial: • Strong market with only 5% vacancies •R ecent development has been trending toward large distribution centers Multi-family: • Not as slow as one might think given the current oversupply of units

•D evelopers are counting on population growth and the approximately two years it takes to go from land acquisition to completion

Takeaway: Demand for retail and industrial sites remains strong, and multi-family is having some activity, but no demand exists for office sites. There is a healthy demand for residential both in infill and in the far suburbs. There are some transactions for land for medical development, but now that the large 20 acre satellite hospitals are mostly in place around the far suburbs, future development should be on smaller sites.

Roundabouts:

Why we don't see them yet in Houston and Texas? (The case for more traffic roundabouts)

Roundabouts typically achieve:

From Priceonomics: “The roughly 3,700 circular traffic intersections in the U.S. are feared, avoided, and even loathed…Australia has more than 10,000. France features 32,000. The U.K. boasts 25,000, the most in the world as a proportion of total road space.

•37% reduction in overall collisions

In every single metric, roundabouts outperformed intersections in terms of efficiency. Average delays were cut by 65%; no more than one-third of vehicles were not in motion at any given time, and the circle never went over 22% of its full capacity.”

Why are roundabouts so effective? Again from Washington State DOT:

From Discover: “The roundabout is the single most important device ever created to help control traffic safely and smoothly.” From Washington State DOT: “Studies have shown that roundabouts are safer than traditional stop sign or signal-controlled intersections. [They] reduced injury crashes by 75% at intersections where stop signs or signals were previously used for traffic control.

•75% reduction in injury collisions •90% reduction in fatality collisions •40% reduction in pedestrian collisions

• Drivers must slow down and yield to traffic before entering a roundabout. • Roundabouts are designed to promote a continuous, circular flow of traffic; if there is not traffic in the roundabout, drivers are not required to stop. Because traffic is continuously flowing drivers don’t have an incentive to speed up and ‘beat the light’ • Roads entering a roundabout are gently curved to help them enter the counter-clockwise flow around the roundabout, thus eliminating the possibility for T-bone and head-on collisions.

The following forward-looking communities in the U.S. have installed roundabouts, with a sharp reduction in crashes and injuries: •Arundel County, MD •Carroll County, MD •Cecil County, MD •Howard County, MD •Washington County, MD •Avon, CO •Vail, CO •Bradenton Beach, FL

•West Boca Raton, FL •Gainesville, FL •Gorham, ME •Hilton Head, SC •Manchester, VE •Manhattan, KS •Montpelier, VE •Santa Barbara, CA

And Hankamer only knows of TWO roundabouts in the entire City of Houston: Montrose at Main, and Westcott at Washington Ave. Why don’t we have more? 50

September 2017

NATIONAL ENVIRONMENTAL SERVICES Houston, Texas GABRIEL ENVIRONMENTAL GROUP San Bernardino, California National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in San Bernardino, California, are sister environmental consulting companies, first established in 1995, that conduct a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround. Licensed, certified and qualified to perform a wide range of services, including: • Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13) • Transaction Screens (ASTM E 1528-06) • Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency) • RSRAs (Records Search with Risk Assessments) • Phase II Subsurface Investigations* • Remediation and Corrective Activities* • Soil, Water, and Air Testing Services • Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* *Performed in Texas in partnership with Terrain Solutions, Inc., Texas Geoscience Firm Registration # 50018

SERVICES ARE PROVIDED NATIONWIDE National Environmental Services Houston, Texas Tel: 281.888.5266 hgabriel@nationalenv.com www.nationalenv.com

Gabriel Environmental Group San Bernardino, California Tel: 909.790.4371 hgabriel@gabrielenv.com www.gabrielenv.com

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL PRSRT STD U.S. POSTAGE PAID PERMIT NO. 2436 DALLAS, TX

5909 West Loop South, Suite 135, Bellaire, TX 77401 Address Service Requested If this person is no longer with your company, please notify subscriptions@ rednews.com or call 713-661-6300

YOUR BUSINESS BELONGS IN PASADENA, TX AL ROSS SIGN GROUP SET TO MAKE ITS MARK ON HOUSTON

Houston-based equity ﬁrm, Al Ross

“We’re committed to delivering the

Group, LLC recently acquired a large sign

best value to you on every

company in Houston, and rebranded to Al

project, whether we’re creating

Ross Sign Group. The sign company, in

RECENTLY REDEVELOPED CENTER business 27 years has a solid, loyal client

signage that is functional, artistic,

FAIRMONT PKWY NEARpeople. BELTWAY base and experienced, passionate

diﬀerence you’ll experience when

PASADENA, 77505 With aggressive marketing TEXAS and a high level of service, Al Ross Sign Group will • 6,656 SF (divisible) immediate

occupancy

quickly rise location to the top,on not only in • Prime the highly

traveled Fairmont just inside Bltwy 8 Houston, Texas,Pkwy, but across the country.

or a bit of both. That’s the

working with Al Ross Sign Group.” Al Ross, CEO

• Great visibility and access • Rapidly growing, business friendly community • Surrounded by National Tenants • Multi – Tenant use

Expect the best! C o n tOne a c t uRiverway, s t o d a y t oSuite l e a r n1870 m o r e a b o u t w hFor a t wmore e c a n information do for you!

Houston, TX 77056

713.661.1500

contact: Kevin Sims 281.241.7968 | ksims@williamsburgent.com

alrosssigngroup.com