THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE | SEPTEMBER 2021
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LMEDC.com | cityoflamarque.org
P R I M E D E V E LO PM E N T O P P O R T U N I T Y
Seabrook
3.32 Total Acres 144,619.2 SF
SEQ E. Meyer Ave & TX-146, Seabrook, Texas 77586
SITE
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Near Major Retail, Restaurants, and Hotels CVS & AutoZone Down the Road Near the Miramar Shopping Center
DEMOGRAPHIC SNAPSHOT POPULATION
AVG HH INCOME
1-mi: 11,253
1-mi: $120,541
3-mi: 32,475
3-mi: $123,358
5-mi: 87,348
5-mi: $119,616
McDonald’s Across the Street
TRAFFIC COUNTS
By Major Bodies of Water
TX-146: 36,607 VPD (TXDOT 2019)
Near the NASA Johnson Space Center
TX-146: 33,510 VPD (TXDOT 2019)
TRAFFIC GENERATORS
High Traffic Counts along TX-146 Near Major Grocer – Kroger Strong Traffic Generators
Bruce Frankel bfrankel@frankeldev.com
Surrounded by Everyday Needs
Diandra Breen dbreen@frankeldev.com 713.661.0440
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Features
Here are your 2021 REDnews Awards winners Nearly 300 commercial real estate professionals gathered at the Briar Club ballroom to celebrate this last year’s biggest deals and the movers and shakers behind them.
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The Hartman Promise: Hartman thrives in Texas’ resilient office market The first award handed out at the 2021 REDnews Real Estate Awards went to the commercial real estate powerhouse Al Hartman.
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Flipping the Switch: Multifamily experts see market bounce back the effects of a recession on commercial real estate.
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Houston Industrial Record The industrial market in Houston has hit the highest quarterly leasing total on record.
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Scoop
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2021 REDNews Commercial Real Estate Awards A recap of the event.
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REDnews Houston Retail & Restaurant Summit 2021 A recap of the event.
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CCIM Luncheon- Affordable Housing A recap of the event.
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CRE Marketplace
Letter from the Editor THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE
NATIONAL PUBLISHER Mark Menzies menzies@rejournals.com
MANAGING EDITOR AJ LaTrace alatrace@rejournals.com
STAFF WRITERS Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDnews.com
SENIOR VICE PRESIDENT Benton Mahaffey benton@REDnews.com
EMARKETING DIRECTOR
“The industrial boom continued through the end of the second quarter, bolstering expectations and competition within the Texas market.”
Sarah Evans Carter emarketing@REDnews.com
ADVERTISING & CONFERENCE SALES Ginger Wheless ginger@REDnews.com Tressa Mogas Barzilla tressa.barzilla@rejournals.com Jeff Johnson jeff.johnson@rejournals.com Jessica Johnson jessica.johnson@rejournals.com
CLASSIFIED DIRECTOR Susan Mickey smickey@REDnews.com
EVENT COORDINATOR Abby Lestin abby.lestin@rejournals.com
PRINT & DIGITAL DISTRIBUTION REDnews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US.
Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387
This month, we celebrated the 2021 REDnews Real Estate Awards at the Briar Club in Houston and congratulated all finalists and winners. With 29 different categories represented, dozens of nominees entered, and after much deliberation, the winners were announced on August 5. If you have any photos from the event you’d like to share, please share on Twitter and LinkedIn, and be sure to tag us via @REjournals to have your images shared with our network. The REDnews Real Estate Awards came about around the same time that our sister publications, Illinois Real Estate Journal and Minnesota Real Estate Journal, had their awards celebrations in their respective markets. It’s safe to say that the overall attitude and outlook is optimistic, especially as we’ve finally been able to gather and connect in person once again. In other news, the industrial boom continued through the end of the second quarter, bolstering expectations and competition within the Texas market. In Houston, the industrial market reached a big milestone by hitting a quarterly leasing record, and the news of industrial leasing also continues to make news in Austin, Dallas and San Antonio. And how is the office market faring? It’s a little more challenged. And depending on how this autumn shakes out with a spike in COVID cases, it’s definitely difficult to predict what will happen. But this is also a huge opportunity for thought leadership -- our readers and audience want to remain informed on what’s happening in the Texas market in real time. AJ LaTrace, Managing Editor
TOTAL QUALIFIED ONLINE 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. 2537 S. Gessner, Ste. 126 Houston, TX 77063 SEPTEMBER 2021
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Here are your 2021 REDnews Awards winners BY AJ LATRACE
Nearly 300 commercial real estate professionals gathered at the Briar Club ballroom Thursday, August 5 to celebrate this last year’s biggest deals and the movers and shakers behind them during the REDnews Awards. And there was certainly much cause for celebration after the hardships and challenges presented during 2020 and beyond. However, the CRE industry has proven resilient and we would like to honor those who continue to set a high bar for excellence in the field. Dozens of entries vied for the 29 different award categories and after much deliberation, the individuals and companies listed below earned their spot on the list of winners. We would like to thank all the nominees and award winners who made this year’s REDnews Awards a big success and we invite all to stay in touch with our team through LinkedIn and Twitter. And Until next year’s awards take place, please be sure to keep an eye on the various panel events and mixers scheduled throughout the rest of the year. Below is the complete list of the 2021 REDnews Award winners: Best Technology Pivot: Hartman Income REIT: NeedlePoint Bi-Polar Ionization (winner) 6
SEPTEMBER 2021
City/Municipality of the Year: City of Seabrook (winner) Most Significant Investment Sale of 2020: Katy Multifamily (winner) Suburban Multifamily (Market Rate): The Park at Tour 18 Apartments (winner) The Lane at the Waterway Two Lakes Edge The Crawford at Grand Morton Urban Multifamily (Market Rate): Crimson Gables Signature Collection Tower 5040 The Montrose at Buffalo Bayou (winner) Industrial, Manufacturing and Science: Katy Prairie Business Park Landmark at the Grove Nexus Park Northwest Parc 59 (winner) Office Project: Avidian Wealth Management Village Towers Phase 1 (winner)
Interior Design (Retail, Restaurant and Hospitality): Eden Salon Suites (winner) Interior Design (Office, Industrial and Corporate): Centurion Pipeline L.P. Corporate Office 2nd MD Corporate Office OCI Methanol (winner) 2020 Broker Pivot of the Year: David Baker of Transwestern (winner) Kimberly Morris of Keller Williams Platinum Redevelopment and/or Historic Adaptive Reuse: 3201 Allen Parkway Baybrook Terrace Shopping Center remodel Meyerland Market H-E-B at Meyerland Plaza redevelopment (winner) Lifetime Achievement Award: Welcome Wilson, Sr of the Welcome Group Real Estate Lawyer of the Year: Derek Pershing of Wilson Cribbs & Goren (winner) Retail/Restaurant: Bellaire Town Center Meyerland Market H-E-B at Meyerland Plaza (winner)
Best COVID Plan: Goree Headquarters HHCares (winner) Hartman Income REIT
Most Significant Lease Transaction: Park Towers Relocations Western Midstream at The Woodlands Towers at The Waterway (winner)
2020 Superstar: Kimberly Morris of Keller Williams Platinum Grant Pearson of Jackson-Shaw (winner)
Broker of the Year: Brandon Clarke of JLL Jim Foreman of Cushman & Wakefield (winner) Kyle Fischer of Belvoir Real Estate Group Doug Little of Transwestern Reed Vestal, SIOR, CCIM of Junction Commercial Real Estate
Brokerage Firm of the Year: Belvoir Real Estate Group Caldwell Brokerage Company Cushman & Wakefield Transwestern Real Estate Services (winner) Emerging Leader of the Year: Will Curtus of KW Commercial City View Mike Pittman II of Urban Partnerships Community Development Corporation Vince Strake of Cushman & Wakefield (winner) Myra Vorrice of RESOLUT RE Social Media Influencer of the Year: Will Curtis of KW Commercial City View Tiffany Ryland of Arvo Realty Advisors (winner)
Property Manager of the Year: Robert Paul Brezina III of Fidelis Realty Partners Kaci Hancock of REIS Associates Laura Harvey of Stream Realty Partners Natali Juarbe of Granite Properties (winner) Lan Nguyen of Fidelis Realty Partners Architect/Engineer of the Year: Ben Allsop, P.E. of Kimley-Horn & Associates F. Sabir of FS Group Architects Melissa Turnbaugh of PBK (winner) Executive of the Year: Shane Cawood of Hartman Income REIT
Matthew Goldsby of Belvoir Real Estate Group Michael G. Scheurich of Arch-Con Construction (winner) Woman of the Year: Dianna Bridger of Cushman & Wakefield Lynn Davis of Fidelis Realty Partners (winner) Helena Finley of Morgan Group Susan L. Hill of JLL Edna Meyer-Nelson of Richland Investments Kimberly Morris of Keller Williams Platinum General Contractor of the Year: E Contractors USA E.E. Reed Construction (winner) Rosenberger Construction Mortgage Broker/Banker of the Year: Hernan Garcia of Oakdale Mortgage Tucker Knight of Berkadia (winner) Developer of the Year: Skanska USA Commercial Development The Howard Hughes Corporation (winner) Lender of the Year: Veritex Community Bank (winner)
COMMERCIAL | INDUSTRIAL | MULTIFAMILY | SENIOR LIVING | EDUCATION
Congratulations to all of the REDnews Awards nominees.
Project of the Year – Parc 59 Industrial, Manufacturing & Science
Connect with us on Social Media!
www.cadencemcshane.com
SEPTEMBER 2021
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The Hartman Promise: Hartman thrives in Texas’ resilient office market BY BRANDI SMITH
“We're very adaptable in our approach and we've shown that with good resilience through this pandemic.”
Al Hartman
Anyone who’s familiar with Al Hartman and the team at Hartman Income REIT Management, Inc. (Hartman) wouldn’t be surprised to learn that the first award handed out at the 2021 REDnews Real Estate Awards went to the commercial real estate powerhouse. Hartman accepted the award for Best Technology Pivot for its adoption of NeedlePoint Bi-Polar Ionization. “The ionization technology is capable of destroying 99.4% of Coronaviruses within 30 minutes,” Al Hartman, CEO of Hartman, explains. Finding and introducing this technology into its office buildings is just one example of how the company has learned, evolved and thrived amid the challenges of the past few years. “We're very adaptable in our approach and we've shown that with good resilience through this pandemic,” says Anthony Trollope, Hartman’s Director of Interactive Marketing. “We've come out on top.” The company’s success dates back more than 35 years when Al Hartman first started building his commercial real estate portfolio in Texas. “The interest level in Texas has been very strong throughout the past decade and it's only accelerated as a result of the pandemic,” says Hartman CIO and Executive Vice President David Wheeler. “A lot of folks like Texas for many reasons: overall business climate, favorable taxes, pro-business regulatory environment, and less reliance on mass transit. Those all became real factors during the pandemic.” Between 2018 and 2021, the Texas population has grown by more than 2 million. A huge chunk of those new residents (about 13 percent since 2010) are coming from California. “Over the past five years, folks really began recognizing that Texas represents great value,” Wheeler adds. “It’s a terrific place to do business. The economy is booming. There's workforce growth, both organically, for the major institutions here in the state, as well as folks relocating from other states.” In fact, Texas is the No. 1 hub for corporate relocations due to its low corporate tax rate and low cost of living. Wheeler offers the examples of Oracle, Toyota USA and Hewlett Packard Enterprises. “They looked at Texas as a place where they knew their workforce could be housed on an economic level and they realized that once they relocated here, they'd be able 8
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Richard Maloof
Anthony Trollope
Dave Wheeler
to retain their employees and provide their employees with a wage that gave them a real nice cost of living,” he says. The lure of Texas is creating diversity in both the population and the industries creating jobs in the Lone Star State. From financial services to logistics to manufacturing to healthcare to tech, business is booming here. All of that is great news for Hartman, which manages 60 properties in Houston, San Antonio, and Dallas-Fort Worth. There’s exceptional interest in the company’s offerings. As of June, office leasing tours are up 122 percent compared to last year. Signed leases are up more than 52 percent over 2019 and 117 percent over 2020. “We're not necessarily dependent on the corporate tenants, because our properties cater very well to small businesses that are tracking the larger companies coming to the state,” says Wheeler. Since the beginning of 2021, more than 50 percent of newly signed office leases with Hartman were 2,500 square feet or smaller. Hartman picked up on the small-office trend early in 2020, introducing BIZSUITES, a new single-office shared amenity business model designed with affordability and flexibility in mind. It currently has eight BIZSUITES locations between Houston, DFW and San Antonio, but plans to add two more locations by the end of 2021. “BIZSUITES is a great concept for individual offices with all-inclusive amenities, high-quality internet access and other opportunities to not only foster their business, but also create chances for visiting across business lines,” Wheeler shares, adding that flexible and short-lease terms offered are incentives as well. Another trend that fed right into Hartman’s success was the seismic migration of people to the suburbs. Since almost all of its office buildings are in suburban locations, Hartman’s captured more than its fair share of tenants. Though Hartman is reveling in its accomplishments now, the executive team admits the last year presented plenty of challenges. “We ended 2020 at about three percent negative net absorption,” says Richard Maloof, Executive Vice President of Leasing at Hartman. “We felt the pandemic’s Continued on Page 10>
Congratulations to all of the REDnews 2021 Real Estate Awards finalists & winners. We are honored to be recognized among so many outstanding people & projects.
GRANT PEARSON - 2020 SUPERSTAR Thank you for your hard work and dedication PARC 59 - WINNER Best Industrial, Manufacturing and Science project Thackeray Partners, Jason Dillee and Nathan Wynne of CBRE, Cadence McShane, Powers Brown & WGA Consulting NEXUS PARK - FINALIST Best Industrial, Manufacturing and Science project Diamond Realty Investments, Beau Kaleel and Michael Foreman of Cushman-Wakefield, Burton Construction, Powers Brown & Kimley-Horn
Hartman
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effect, though now we are outperforming any other landlords in Texas and, likely, in the country, with our lease velocity.” In the first two quarters of 2021, Hartman notched 130,000 square feet of net absorption. The company primarily attributes that comeback to two things: its historic focus on small tenants and its flexible leasing terms. A vital component in all of this is Hartman’s White Glove Service. While its properties are typically Class B, they are managed as a Class A. “It's really good for the tenant because they're getting the quality and service they can't get at any other B class property,” says Hartman. “This makes us very attractive to new tenants looking to move into our buildings.” That approach’s benefits are clear in Hartman’s Net Promoter Score (NPS), which comes out twice a year. Hartman, one of nearly 20 commercial real estate companies involved in the survey, scored 60, placing Hartman in the top 6% of all companies involved in the survey. At least a couple well-known real estate companies register negative scores, according to Hartman. Wheeler attributes at least some of those high scores to the fact that Hartman owns, operates, and manages all its buildings. Everything is under one umbrella, creating easy communication lines between the company and its tenants.
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“We listen,” Maloof says. “We listen to our tenants about what they want in their building, whether that’s a gym, a coffee bar, or a conference room. We are proactive in making sure our buildings are a pleasant work experience.” Looking forward, Hartman is staying proactive as ever. The company is currently building a new industrial business park in Dallas-Fort Worth, North 820 Business Park. The company is also raising capital to buy industrial properties, which will help the company expand to accommodate e-commerce growth and fulfillment opportunities presented by the market. “We see the greatest opportunity in office right now, especially in Houston. Office is very soft. That's the market we thrive in because we like to get good returns for our investors,” says Hartman. “We really thrive on the properties that have vacancy and value-add opportunities in them. We're seeing deals that we probably haven't seen in almost a generation.” Adds Wheeler: “We think there will be continued opportunity not only to raise capital, but place in a number of meaningful opportunities over the next year or two before the markets fully recover.” That innovation, attention to detail and flexibility all create a thriving environment for Hartman tenants. Maloof shares, “When you lease with us, you're leaving your business in good hands.” To learn more about Hartman and its properties, visit hi-reit.com.
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Flipping the Switch: Multifamily experts see market bounce back BY BRANDI SMITH
Ric Campo rode out a number of storms in his career. He cofounded Camden back in 1982, then helped take it public 11 years later. Anyone who’s worked in commercial real estate since the early ‘80s has seen the effects of a recession, Campo included, which is why his evaluation of the past 18 months is so good to hear.
Dallas and Austin, Camden operates nearly 50 multifamily communities in the Lone Star State.
“This is the best recovery out of a recession that I've ever seen in my business career,” says Campo, Camden’s Chairman of the Board and CEO.
“We were still weak coming out of 2020, then all of a sudden came March. You had more people getting vaccinated, the Ric Campo Phillip Morgan mask mandates being released and jobs were being added back in Texas overall,” explains Campo.
The multifamily firm has developed dozens of luxury apartment communities all over the country -- from Atlanta to Los Angeles. Campo says at the beginning of the pandemic, occupancy dropped about 100 basis points. “When you get down to it, that’s not awful,” he says. “But what happened then was we rebuilt that occupancy in the summer of 2020 and now our national occupancy levels are in the 97 percent range.” Campo says the turning point really seems to be March 2021. That’s when Camden noticed the biggest bump, especially in its Texas properties. Between Houston,
He says the impact is clear when you compare Q1 occupancy rates to those in Q2. Every single Texas market saw a bump for Camden. Austin went from 96.3 percent to 97.3 percent. Dallas got a boost from 96 percent to 96.6 percent. Houston grew from 94 percent to 95.7 percent. Quarter-over-quarter revenue is up too: 3.6 percent for Austin, 2.7 percent for Dallas and 3.3 percent for Houston.
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SEPTEMBER 2021
“Austin is leading the way in terms of rent growth and investor appetite, but we are seeing positive rent trends continue in San Antonio, Dallas and suburban Houston.” “The way I describe it is that there’s a switch that was flipped. We switched from ‘OK, we’re not moving around much, but I can lease apartments,’ then boom! We started leasing apartments big time,” Campo says. Houston made the biggest surprise comeback for Campo, based solely on how much softer the job market was because of the oil and gas market. While the other Texas metro areas have added back around 90 percent of jobs lost, Houston is still hovering in the low 60s. Still, Camden is notching wins in the multifamily market there. “We just had a lease up at Camden Cypress II, which was probably one of the fastest and best lease ups we’ve had in a long time,” says Campo. Houston may not be the strongest multifamily market in Texas, as it lags behind Austin and Dallas, but Campo describes the Texas market as a whole as a “very, very strong market.” “As a whole, Texas is one of the best markets in the country. Populations continue to grow in each of the four major metros,” echoes Philip Morgan, CEO of the Morgan Group, a third-generation family business that invests in multifamily via development and acquisitions.
He says Morgan has started seeing strengthening fundamentals, which is supporting strong interest from buyers, investors and lenders. “Austin is leading the way in terms of rent growth and investor appetite, but we are seeing positive rent trends continue in San Antonio, Dallas and suburban Houston,” Morgan adds. “Over the past two months, we have also seen urban Houston trending positively as well.” Campo says there is some talk within the industry about whether multifamily is on a kind of sugar high, buoyed by the government’s stimulus efforts. He believes the market will stay strong for at least a couple of years. “We'll get to a more normal situation, but we're still going to have high demand because consumers have a lot of income and personal savings. That's going to continue to drive demand,” explains Campo. “We have a shortage of housing in America -- for singlefamily and multifamily -- which is putting pressure on prices. We need to build more and create the product that the customer wants.” Camden is working on doing just that, creating new communities and expanding its multifamily footprint across the country, just as it’s done since the early ‘80s.
Fort Bend County - Spur 10 / Hwy 90 / Hwy 59 / I-69 / Hwy 36 Industrial / Warehouse / Distribution / Commercial / Development Sites 1. 80 Acres - Randon Dyer Road. Well located @ Spur 10 & Hwy 90, great access, across from CNG station. Other activity in the area. $2,999,999 $2,880,000 2. 4.3 Acres - 3715 Southwest Freeway. Major Hwy Frontage on 59! Truckstop, hotel, strip center, quick service restaurant. Excellent development opportunity. $1,999,999
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3. 30 Acres - Highway 36 hard corner! Hot spot for investors & near future development. Well located for many uses. Needville area. $1,399,999 4. 1.3 Acre - Hard Corner Hwy 59 & Reading Road. Brazos Town Center Ground Lease. 5. 1.75 acre - Commercial Corner on FM 359, utilities available, Richmond / Pecan Grove / Mason Rd. - Hwy 90 and Grand Parkway 99 access. $760,000 Looking to Buy or Sell commercial or acreage properties in Fort Bend County?
3 Seth Showalter, Broker call / text 713-269-4908 Seth@FirstWarrantyRealty.com SEPTEMBER 2021
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CONGRATULATIONS LENDER OF THE YEAR TO ALL THE WINNERS AND FINALISTS PROJECT AWARDS Industrial / Manufacturing / Science Katy Prairie Business Park
Interior Design – Retail / Restaurant / Hospitality WINNER! Eden Salon Suites
Landmark at the Grove Nexus Park Northwest WINNER! Parc 59 Suburban Multifamily WINNER! The Park at Tour 18 Apartments The Lane at The Waterway Two Lakes Edge The Crawford at Grand Morton Interior Design – Office / Industrial / Corporate
COMPANY / CITY AWARDS Belvoir Real Estate Group Caldwell Brokerage Company Cushman & Wakefield WINNER! Transwestern Real Estate Services City / Municipality of the Year WINNER! City of Seabrook General Contractor of the Year
Hedge Fund Company/Non-Profit Think Tank
WINNER! E.E. Reed Construction, L.P.
WINNER! OCI Methanol Redevelopment / Reuse / Historic 3201 Allen Parkway Baybrook Terrace Shopping Center Remodel WINNER! Meyerland Market H‑E‑B at Meyerland Plaza Urban Multifamily Crimson Gables Signature Collection Tower 5040 WINNER! The Montrose at Buffalo Bayou
E Contractors USA, LLC Rosenberger Construction
Avidian Wealth Management WINNER! Village Towers Phase I
Most Significant Lease Transaction in 2020
Will Curtis
Park Towers Relocations
Mike Pittman II WINNER! Vince Strake
WINNER! Western Midstream at The Woodlands Towers at The Waterway Most Significant Investment Sale Transaction in 2020
Goree Headquarters WINNER! HHCares
Mortgage Broker / Banker of the Year
2020 Superstar Kimberly Morris WINNER! Grant Pearson Architect / Engineer of the Year Ben Allsop, P.E. F. Sabir WINNER! Melissa Turnbaugh Broker of the Year Brandon Clarke
Retail / Restaurant
Doug Little
Kyle Fischer
Bellaire Town Center
Reed Vestal, SIOR, CCIM
WINNER! Meyerland Market H‑E‑B at Meyerland Plaza
Broker Pivot of the Year WINNER! David Baker Kimberly Morris Developer of the Year
WINNER! Hartman Income REIT: NeedlePoint Bi‑Polar Ionization
Shane Cawood
PEOPLE AWARDS
WINNER! Jim Foreman
WINNER! Veritex Community Bank
Executive of the Year Matthew Goldsby
Hartman Income REIT
Lender of the Year
Myra Vorrice
WINNER! Katy Multifamily
Best COVID Plan
Best Technology Pivot Office Project
Emerging Leader of the Year
Brokerage Firm of the Year
Centurion Pipeline L.P. Corporate Office
2nd.MD Corporate Office
TRANSACTION AWARDS
Skanska USA Commercial Development WINNER! The Howard Hughes Corporation
WINNER! Michael G. Scheurich
Hernan Garcia WINNER! Tucker Knight Property Manager of the Year Robert Paul Brezina III Kaci Hancock
L
Laura Harvey WINNER! Natali Juarbe Lan Nguyen
Welcome Wilso
Houston Real Estate Developer Group, landlord to over 5,000,0 Real Estate Lawyer of the Year Industrial Facilities in 100 Texas
WINNER! Derek Pershing
First projects in the 1950s and 19
Communities, Jamaica Beach an Social Media Influencer of the Year
Will Curtis
both of which are now separate ments, retail centers, hotels and
WINNER! Tiffany Ryland
Honors include: Inducted into th Receiving the Lifetime Achievem Woman of the Year Business Journal in 2012 and Aw Diana Bridger in 2013 from the University of Ho
WINNER! Lynn Davis
Of note, he received the Univers Alumnus Award in 1970, the UH Susan L. Hill Distinguished Alumni Award in 1 Edna Meyer-Nelson from the University of Texas – Ri
Helena Finley
Kimberly Morris
In the past, he was Chairman of was Chairman of an American S Board of Directors and owned 10 team. In March 2021, he celebra
He was a long-time Chairman of University of Houston, Chairman was Chairman of its Political Acti
THANK YOU TO OUR SPONSORS!
LIFETIME ACHIEVEMENT
REAL ESTATE LAW
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into the Texas Business Hall of Fame, hievement Award from the Houston and Awarded an Honorary Doctor’s degree y of Houston, where he was a 49 BBA grad.
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REAL ESTATE LA
Houston Industrial Record BY AJ LATRACE
While 15 million square feet of new industrial space remains under construction, nearly 70% of it is already leased, the report indicates, further illustrating the high demand for industrial space. Additionally, Port Houston’s container terminals have remained busy, with year-to-date activity increasing by 8% over the same period in 2020. As Houston’s import-export activity increases and the economy continues to shift towards e-commerce and manufacturing on-shoring, and Texas’s population growth remains steady, the sky-high demand for new industrial product will likely continue for the foreseeable future.
advertiser index Asset Preservation, Inc................................................................................. 21 While the Houston office market has had a rough 12 months, and will likely to continue to lag in the coming quarters, the industrial market is booming. In fact, the industrial market in Houston is so strong that the metro area has hit the highest quarterly leasing total on record, according to a recent report from NAI Partners. By the end of the second quarter of this year, Houston’s overall industrial vacancy rate stood at 9%, more or less unchanged since the previous quarter, however, there was 12.5 million square feet of leasing activity recorded for Q2 of 2021, which is more than double the 6 million square feet of leasing activity during the same period last year. A wave of new deliveries from previous quarters has kept inventory levels stable and average gross rent rates relatively flat. The news is significant for numerous reasons, but namely how the industrial market is helping bolster the broader commercial real estate sector as other asset classes continue to struggle since the start of the pandemic. But other economic indicators continue to show improvement, the report reveals, such as lower unemployment stats, the increase in drilling operations, and an uptick in new construction. According to the report, the vast majority of industrial leasing over the last several years has been for warehouse and distribution space. The metro has had 12 straight years of positive net absorption, the report indicates, even as Houston continues to also witness record levels of industrial construction. Major Q2 leases highlighted in the report include Ferguson’s 750,7750-squarefoot lease at the Empire West Business Park, a 685,000-square-foot lease by Living Spaces Furniture Company at the Air 59 Logistics Center and a 645,000-square-foot lease at 4725 E. Grand Parkway by Webstaurant Store.
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Blazer Building Texas.................................................................................... 23 Cadence McShane Construction Company.............................................. 7 City of Seabrook............................................................................................ 3 Fidelis Realty Partners................................................................................. 17 First Warranty Realty................................................................................... 13 Hartman Income REIT- Dallas.................................................................. cover Jackson-Shaw Company.............................................................................. 9 La Marque Economic Development Corporation................................... 2 National Environmental Services, LLC...................................................... 27 O.I. Management........................................................................................... 24 Phase Engineering......................................................................................... 18 Read King Commercial Real Estate........................................................... 4 Spear Minerals............................................................................................... 12 The Real Estate Council - Greater Ft. Worth........................................... 22 Transwestern - Houston.............................................................................. 11 Wilson Cribbs & Goren PC............................................................................ 10
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Congratulations to Lynn Davis! Lynn Davis, Co-President and Chief Leasing and Development Officer at Fidelis, was granted the Woman of the Year award at the REDnews 2021 Houston Commercial Real Estate Awards!
Fidelis’ Meyerland Market H-E-B Wins 3 Awards at the REDnews 2021 Houston Commercial Real Estate Awards
Redevelopment / Reuse / Historic Award Meyerland Market H-E-B at Meyerland Plaza Retail / Restaurant Award Meyerland Market H-E-B at Meyerland Plaza
www.frpltd.com • 713.623.6800
2021 People’s Choice Award Meyerland Market H-E-B at Meyerland Plaza
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Farhan Kabani joined Four Pillars Capital Markets at its inception
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Dallas, Texas, 2021 Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the launch of a new affiliate debt services company, Four Pillars Capital Markets. The new firm will provide debt and equity financing solutions for commercial real estate investment properties. Four Pillars Capital Markets is a company built on the following principles: Service, Excellence, Collaboration and Access. The firm’s professionals are committed to providing personalized, white-glove service to clients along with access to best-in-class insights, market data and capital providers. By leveraging the latest technology, a unified shared services platform and deep relationships with capital sources, investors in the historically underserved middle market now have a new choice in capital markets that is built on a legacy of client service. “As part of our strategic growth plan, we have identified an opportunity to provide better service to our existing clients, attract new clients and offer a diversified capital markets platform,” said Stan Johnson, President and CEO.
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To help lead this new service line, the firm has also announced the hire of Farhan Kabani. Previously with Mark One Capital, an affiliate of Marcus & Millichap, Kabani has more than 15 years of commercial real estate finance experience and has secured over $5.0 billion in debt and equity capital for clients. Kabani joins Four Pillars Capital Markets as Partner and, with support from the Stan Johnson Company executive team, will lead the new real estate capital markets brokerage.
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North Texas CCIM at Chapter Officer Training in Chicago July 2021 IREM Houston Suds & Sun Summer Happy Hour July 2021.
“I’m honored to embark on this new opportunity,” said Kabani. “The Four Pillars national platform offers access to a deep pool of capital sources, and we have a unique opportunity to build a team that will provide unparalleled service to clients in the middle market. This is a very exciting opportunity to elevate the standard of service and client experience that investors expect when hiring a firm to source the best capital solution for their real estate financing needs.”
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City of Seabrook presentation at BACREN's July 2021 Luncheon.
Farhan Kabani joined Four Pillars Capital Markets at its inception in 2021 as Partner. Kabani is passionate about achieving success for his clients and specializes in securing debt and equity financing. His approach to transparency and building relationships, along with his extensive knowledge of capital markets, have proved to be successful over the last 15 years. He has closed more than 4,000 transactions totaling $5.0 billion in funded loans.
Four Pillars Capital Markets has identified key geographies for future expansion in order to provide the best national coverage for clients.
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BOMA Austin July 2021 Meeting. July 23rd CREN Gulf Coast Meeting Attendees. REDnews Houston Retail Summit August 12, 2021.
About Four Pillars Capital Markets: Four Pillars Capital Markets, an affiliate of Stan Johnson Company, is a real estate capital markets brokerage firm dedicated to providing the highest level of client service. With over $5.0 billion in capital sourced and decades of industry experience, Four Pillars Capital Markets provides debt and equity financing to commercial real estate investors as they acquire or refinance office, industrial, retail, healthcare, multifamily and specialty assets. To learn more about Four Pillars Capital Markets, please visit: www.fpcm.com.
SEPTEMBER 2021
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2021 REDNews Commercial Real Estate Awards BY RAY HANKAMER
The cocktail / networking hour which preceded the much-anticipated annual gala dinner was buzzing with anticipation, as finalists for the various awards categories enjoyed in-person fellowship after the sixteen month pandemic. Houston’s luxurious Briar Club was the setting, and the ballroom was jammed with large round tables for the three hundred attendees. The ballroom dais was enhanced by huge screens and dynamic graphics which made the goingson up front easily accessible to everyone in the large room. Many of the tables were “company” or “sponsor” tables, as co-workers and supporters for the different award nominees clustered together. Sponsors for this “summit gala” were Asset Living, National Property Holdings, Howard Hughes, Welcome Group, Cushman & Wakefield, Spear Minerals, REDNews, E Contractors, Oakdale Mortgage, Belvoir, Hartman Income REIT, Veritex Community Bank, Fidelis Realty Partners, FS Design Group, Davis Holdings, JLL, The Richland Companies, JE Dunn, BHW Real Estate Partners, Granite Properties, REIS Associates, Stream Realty, Grandbridge, MVI, Kimley Horn, EE Reed Construction, HOK, Wulfe Management Services, Boucher Design Group, Jackson Shaw, Keller Williams, and Open Seating. The affair was kicked off by a welcome from Jeff Johnson, CEO, REDNewsReal Estate Journals, followed by a welcome from Houston REDNews Founder Ginger Wheless. Todd Phillips, CFO of Real Estate Journals was in attendance, and several other local REDNews staff took turns in handing out the awards to the winners. The REDNews Commercial Real Estate Awards Gala was just one of many industry-vital REDNews Events which take place throughout each year. Thanks to new Zoom technology, these events in Houston and across the state continued throughout the pandemic, curated and led by REDNews professionals, keeping Texas commercial real estate professionals up to date on industry happenings, and (very important) keeping the attendees at the virtual events in touch with each other. The Houston award winners were selected by a group of prominent local judges, tapped from the real estate community. They were Samantha Harris, MD Anderson; Heather Houston, Scenic Houston; Michael Knudsen, Veritas Title Partners; Gary Maler, Texas A & M; Keith Richards, UH Bauer College; and Carlton Schwab, Texas Economic Development Council. The names of the winners were in sealed envelopes, which rested on the dais along with the crystal trophies for each category. And here are the categories and their winners!
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• Best Technology Pivot: Hartman Income REIT • City/Municipality of the Year: City of Seabrook • Most significant Investment Sale Transaction of the Year: Katy Multifamily • Suburban Multi-family: The Park at Tour 18 • Urban Multi-family: The Montrose at Buffalo Bayou • Industrial / Manufacturing / Science: Parc 59 • Office Project: Village Towers Phase I • Interior Design / Retail / Restaurant / Hospitality: Eden Salon Suites • Interior Design / Office / Industrial / Corporate: OCI Methanol • Broker Pivot of the Year: David Baker • Redevelopment / Reuse / Historic: Meyerland Market H-E-B at Meyerland Plaza • Real Estate Lawyer of the Year: Derek Pershing • Best Covid Plan: HH Cares • 2020 Superstar: Grant Pearson • Brokerage of the Year: Transwestern Real Estate Services • Emerging Leader of the Year: Vince Strake • Social Media Influencer of the Year: Tiffany Ryland • Most Significant Lease Transaction in 2020: Western Midstream at The Woodland Towers at The Waterway • Broker of the Year: Jim Foreman • Property Manager of the Year: Natali Juarbe • Architect / Engineer of the Year: Melissa Turnbaugh • Executive of the Year: Michael Scheurich • Woman of the Year: Lynn Davis • General Contractor of the Year: EE Reed Construction, L.P. • Mortgage Broker of the Year / Banker of the Year: Tucker Knight • Developer of the Year: The Howard Hughes Corporation • Lender of the Year: Veritex Community Bank • 2021 Peoples’ Choice Award (voted on at the gala by attendees): Meyerland Market A highlight of the evening was the Lifetime Achievement Award presented to Welcome Wilson, Sr., whose accomplishments include being a real estate developer for 64 years of 5 million SF of industrial space, a developer of Jamaica Beach & Tiki Island, as well as developing and owning apartments, hotels, retail, and downtown Houston office buildings. Wilson was awarded an honorary doctor’s degree from UH and was the long-time chairman of the university’s Board of Regents. He was chairman of two Houston banks and part owner of Houston Astros. The award for Wilson, 93, was accepted by his son, Welcome Wilson, Jr.
REDnews Houston Retail & Restaurant Summit 2021 BY RAY HANKAMER
Takeaway: Retail “is back” and tenants are looking for space. Consumers have pent-up demand. Employees are lacking and owners are spending more money and time than ever recruiting. The pandemic has brought some changes that will not go away, such as demand for drive-through service, and landlords are challenged to provide it without disturbing other tenants or impacting existing guaranteed parking ratios. Tenants are innovating with new concepts. Landlords are strapped to deliver tenant improvements (TI) on time and on budget due to fluctuating construction and materials costs. Many businesses depend on workers returning to the office, but new Covid variants are threatening that. Moderator: Eric Lestin-Cushman & Wakefield Panelists: Brian Ashby-CBRE; Adam BlusteinGlobal Fund Investments; Jazz Hamilton-CBRE; Lacee Jacobs-Midway Companies; Chris ReyesShop Companies; Steve Spillette-CDS Community Development Strategies; Mark Davis-Davis Commercial; Wade Green-Colliers. Bullets: • Retail is back with consumer and tenant demand up; most tenants who failed during the pandemic were tottering before it; there have been three consecutive quarters of positive retail absorption, and vacancies are at 7%, slightly higher than traditional 6% • “Experiential retail” is the buzzword of the hour; new concepts include fitness, restaurants, entertainment; many very high-end tenants wanting to come to Houston for the first time cannot find space; lots of the ‘new’ concepts are actually re-inventions of old concepts
D DG E BA L L
TOURNAMENT 21 20 presented by the Young Leaders Council of REC of GFW
DON'T DODGE THIS OPPORTUNITY TO HELP STUDENTS! September 23, 2021 REC of GFW Young Leaders never dodge an opportunity to support our community and will host their 10th Dodgeball Tournament on September 23rd (North Texas Giving Day), with a goal of donating $10,000+ to the T3 Partnerships education nonprofit. Since 2013, our Young Leaders Council has raised more than $60,000 for organizations supporting education. Want to keep the ball rolling? Join the fun with a team, donation and/or a t-shirt purchase! Learn more at RECouncilGFW.com
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• “Developers better get busy” to supply more tenant space, especially in the suburbs, where lots of master-planned communities are supplying rooftops, i.e. families who will need retail; Houston and Texas are seeing continuing strong in-migration • Inner loop rents are reaching unprecedented highs; there was some vacating by tenants during the pandemic of inner loop multi-family, but they are filling back up • Landlords helped quality tenants survive the pandemic to the extent they could; landlords are always looking for the best tenant mix, and especially now for the recovery; medical groups are taking retail space; landlords have to decide which concepts are sustainable going forward • Houston is one of the best cities to launch a new concept because of our diversity and consumers’ willingness to try new concepts; we are only U.S. city with low cost of living and above-average income: perfect magnet for tenants; international concepts are coming here; Houston is getting better and better national and international press as a good place to live and to do business • Texas lost 9,000-10,000 restaurants during the pandemic, and many employees left the industry for good for different reasons • Movie theatres are back to 70% of their pre-pandemic sales; some restaurants are managing their to-go deliveries off the restaurant’s main premises from “ghost kitchens” or even food trucks; restaurants are seeking to maintain sales volumes with smaller brick & mortar footprints due to high rents, although delivery services charge a whopping fee; one Houston bar has five ghost kitchens serving different parts of the city • Money is cheap and investment sales are way up; buyers are REITs, funds, wealthy families, and personal investors; a lot of money is seeking retail investment deals; inside the Loop properties are getting a premium; it is a good time to be a seller; uncertainty on the future of 1031s is driving deals • Daycare is another industry trying to make the numbers work in retail centers • Patios and drive-thrus were essential to a restaurant’s survival during the pandemic and they will remain a big part of ongoing operations; some restaurants in retail centers share patios; landlords are building common area amenities to encourage shoppers to spend more time…and money… with their tenants Retail & Restaurant Development/Construction Trends Moderator: David Littwitz-Littwitz Investments, Inc. Panelists: Jonathan Horowitz-Colliers; Sasha Levine-Levcor, Inc.; Danny Nguyen-DN Commercial; Tenel Tayar-Fifth Corner; Jeanie Gibbs-Read King; Jeffrey Abel-Abel Design Group; Emily Durham-Waterman Steele Bullets: • Among innovative new cost-effective ideas is ‘pop-up’ retail in a shipping container, dropped onto a retail center parking lot; used to be “go big or go home” and now it is “go small or go home” due to rising rental rates; restaurateurs have been very innovative these last 18 months • Restaurants are challenged to accommodate delivery infrastructure into their kitchens, without interfering with food production and service to dine-in customers; what are the future trends for brick & mortar buildings and how will they continue to evolve and integrate with online selling? • Restaurants are using technology to service demand and at the same time minimize the number of SF they are paying rent on; some Starbucks locations are being built with no dining room, only drive-thru or double drive-thru • People are moving to Houston from all over the world and various cultures have different dining and shopping and worship needs • Emerging trend is tenants wanting to own their space, so the concept of retail condos is here; lenders and other stakeholders need to be educated on this; condo tenant only pays common area maintenance (CAM); landlord-tenant partnerships are also being explored
• Green space is becoming a part of more retail centers, as in City Centre in west Houston; landlords are beginning to charge rent on improved common spaces, outdoor patios, and other amenities which contribute to tenants’ revenues; before this was not the case; adding patio seating however can create new issues such as revised parking ratios • Some restaurants sublease to bakeries in the middle of the night when the restaurant is closed; every aspect of a restaurant operation is more expensive now compared to before the pandemic, requiring creativity by the owner; many new restaurants open but are under-capitalized and get into trouble before they reach stabilization-this was highlighted during covid and the landlords had to make critical decisions about their food service tenants • Many construction and interior design materials are either subject to delivery delays or to wildly fluctuating prices; sometimes a tenant must make compromises between the cost and ‘the look’ in order to open on time; sometimes landlords are caught in a cost squeeze after committing to TI for a tenant, only to see costs soar when build-out time comes • Some lenders for retail are requiring more equity; lenders want to know what a center and its tenants bring that is unique to the market? It is all about the location and the tenant mix • Restaurateurs are classic entrepreneurs but they need more than anyone to rely on specialists for advice Retail/Restaurant Owners & Operators Moderator: Bob Ethington-Uptown Management District Panelists: Kairy Tate-French Cuff Boutique; Aaron Bludorn- Bludorn Restaurant; Aaron Lyons-Five 12 Restaurant Concepts; Noah Meicler-Texas Mattress Makers; Melissa Stewart-Houston Restaurant Association Bullets: • During the pandemic, restaurants took on new role to survive: grocery store…as they tried new avenues of service and delivery just to survive; restaurants were necessary to the community as people hesitated to leave their homes to go to the grocery store; restaurants have been challenged as to what level of concern they should take re covid-all customers have different wishes and philosophies when they come in the door
• Retailers, like restaurants, had to change their operating styles and inventories drastically during the pandemic in order to give comfort to customers and maintain sales; people who stayed home spent money on their home that they would have spent in stores and restaurants; stores had to re-orient their inventories from fashion to pajamas, jogging suits, and terry cloth robes • Which way will the wind blow now that stimulus money is running out? The money kept some from working but gave others liquidity to spend; the exact future direction of consumers is unknown, but there is proven pent-up demand • Texas had a different consumer profile than California or New York during the profile than Texas, and national retailers and restaurants had to adjust to that • Houston restaurants offer a good career ladder to aspiring chefs and one-day owners; restaurant jobs are the first jobs in life for one out of three Americans; with kids out of school parents had to stay home and that hurt restaurant sales near office buildings • Many former restaurant industry employees have reconsidered their priorities and are not going back to the industry, in spite of newly elevated compensation plans; lack of employees is holding back industry expansion; how to attract and retain people? • Restaurants with increasing operating costs must raise their menu prices but they are meeting resistance from diners; nevertheless sales are up but some restaurants have to curtail capacity because they do not have the staff to properly serve their customers; labor problems for restaurants are not new now, they are just worse • Now many office workers are reconsidering going back after Labor Day, due to fears propagated by the media on the new ‘variant’-this affects planning by restaurants which depend on office workers; some say offices will never return to where they were before the pandemic • Restaurant developers are beginning to prioritize suburban locations over urban ones
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• Restaurateurs had to amp up their Web sites during the pandemic, and adjust to QR codes for menus; people like/need the personal interaction that comes from a restaurant or retail store visit
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SEPTEMBER 2021
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CCIM August Luncheon- Affordable Housing BY RAY HANKAMER
Panelists: Ash Hamirani- Civicap Partners; Nathan Kelley-Blazer; Cliff McDaniel-Lument; Tiffany Thomas-Houston City Council Takeway: Due to the myriad of moving parts in this area of commercial real estate, the devil is in the details, in the relationships, the political climate and political jurisdictions, the neighborhoods and the neighbors, the lenders, the investors, and all the other elements which must be understood and managed by the developers/stakeholders. Only one in four projects proposed gets built. But those projects which DO make it across the finish line provide affordable housing for the workforce and others with lower incomes who need a roof over their heads…and an eventual good return for the developer. Bullets: • Low income people, many who cannot afford a vehicle, need to live with access to their job, to transit, to schools, and to other goods and services; less than ten per cent of all housing in Houston falls into the ‘affordable’ category • Affordable housing developers work to make their projects look like places where higher income people live; tenants in these projects may have incomes ranging from $30-75,000 income • Rents are based on how a tenant’s income relates to the Average Median Income (AMI) in the area, and the rules and regulations are far too complex to be described in detail here • There are numerous city, county, state, and federal authorities involved in this industry, and checking all the boxes to meet their requirements is a tedious process; tax credits coming from building these projects are necessary for their success • Projects may require 70% equity and 30% debt, the inverse of many commercial real estate developments; however, the structure can be such that investors are waiting in line to buy a stabilized development because with the lower rents, there is the highest level of tenant stability • Affordable housing developments allocate a certain percent of the rental units to different
income level tenants, with maybe 15-20% of the units available for rent at the market rate, and all other units at below market rates depending on the tenant’s income and its relation to AMI • The IRS supervises these projects with respect to rents charged and quality of upkeep because they involve federal tax credits; some tenants may be seniors, homeless, and families • NIMBY-ISM can be a factor faced by developers: “not in my back yard” for a project; there are many kneejerk misconceptions about affordable housing or workforce housing projects, and they have to be overcome; having said that, in Houston some city council districts beg for the projects and some are cool towards them; politics surround these developments at many levels • The term “low income housing” is strictly avoided; there is not enough government capital to solve the low income housing demand, so these various programs have evolved to attract private developers and private capital • Traditionally affordable housing has come from older Class A apartment which went downhill to Class C and then to ‘affordable housing’; now there is new-built affordable housing which actually can make money for the developer upon sale…and there are buyers standing in line for the bondlike income stream and stability; there is the highest level of tenant retention in these projects due to the lower rent schedules; most completed projects have prospective tenant waiting lists for apartments to come available • Cost for a new-built project can be around $135,000 per unit; the City and other entities can sometime provide grants or other capital to provide the final piece in financing; again it is a complicated process • Some lenders want workforce housing projects in their portfolios, which facilitates their development; these projects are mixed in all over Houston and since they look like market developments they do not always stand out for what they are • Ike, Harvey, and other natural disasters diverted or created competition for public funds which could have gone to affordable housing projects • Once built and stabilized, there are buyers standing in line to buy these deals
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CENTRAL MANAGEMENT, INC. 820 Gessner, Suite 1525 Houston, TX 77024 P: 713.961.9777 Website: cmirealestate.com Key Contacts: Trent Vacek, tvacek@cmirealestate.com; James Sinclair, jsinclair@cmirealestate.com Services Provided: Central Management, Inc. is a full-service commercial real estate firm providing Brokerage Services; Property, Facility, Construction and Asset Management Services; Landlord and Tenant Representation; Land Sales; Receivership and Real Estate Recovery. Services are available for Industrial, Land, Multifamily, MOB, Office and Retail. Licensed in Oklahoma and Texas. Company Profile: Central Management, Inc. (CMI) was founded by Houston real estate professional Vic Vacek in 1978. Our team understands the intricacies of the markets that offer investors an edge both from a leasing and an asset management perspective. Certified AMO® 1984, IREM, CPM, CCIM, NAR, HAR, NALP, ICSC, and TREC. Notable Transactions/Clients: Armada Big Springs Ptnrs, Barbour Invts., Baytown ISD, Core Real Estate, Hoffpauir Estate, JLC Properties, KBR, Prudential, Rawson Blum & Leon, Subway, Texas Hearing Institute, Triple Crown Invts., US Oncology, Vigavi Realty, Walgreens.
ALSTON CONSTRUCTION COMPANY 1300 W Sam Houston Pkwy S, Suite 225 Houston, TX 77042 P: 713.904.2899
BROKERAGE FIRMS FRANKEL DEVELOPMENT GROUP 5311 Kirby Drive, Suite 104 Houston, TX 77005 P: 713.661.0440 Website: Under Construction Key Contact: Bruce W. Frankel, President, brankel@frankeldev.com Services Provided: Frankel Development Group offers over 33 years of experience and expertise in the retail real estate business. Services include tenant representation, shopping center/project leasing, investment sales, land sales, and development services. Company Profile: Headquartered in Houston, Frankel Development Group provides comprehensive brokerage services for its clients throughout Texas with an emphasis on the Houston MSA. The company represents over 25 "best-in-class" retailers and restaurants, 15 property owners, and possesses a skillset and depth of experience unmatched in the marketplace. Notable Clients/Transactions: Notable retailers include Orangetheory Fitness, Burkes Outlet Stores, UBREAKIFIX, Escalante's Fine Tex-Mex & Tequila, Three Dog Bakery, Fred Astaire Dance Studios, Pump it Up, WaveMax Laundry, and Rush Cycles.
FRIEDMAN REAL ESTATE 34975 W. Twelve Mile Road Farmington Hills, MI 48331 P: 888.848.1671 Website: friedmanrealestate.com Key Contacts: David B. Friedman, President/CEO; Gary Goodman, Sr. Managing Director-Brokerage Services Services Provided: Friedman offers a full range of real estate services including commercial and multifamily property and asset management, tenant and landlord representation, investment and loan sale advisory, space planning, design and construction and a unique platform of lender-focused bankruptcy, receivership and distressed asset services. All services are provided in-house, though a single point of contact, which guarantees that clients receive the most timely and efficient service available in the marketplace. Company Profile: Founded in 1987, Friedman Real Estate is one of the largest privately held commercial real estate organizations in the nation; currently managing over 15M SF of commercial space and more than 15,000 apartment homes located throughout the country. Friedman’s commercial brokerage team has over 800 current listings with $20 billion in closed transactions. Notable Transactions/Clients: Over $800M in transaction volume including some of the largest individual sale and lease deals recorded in 2020.
For advertising opportunities in this section, please contact Susan Mickey at smickey@REDnews.com or 773.575.9030
10440 North Central Expressway, Suite 720 Dallas, TX 75231 P: 214.363.0551 Website: alstonco.com Key Contact: (Houston) Nick Dwyer, Director of Business Development, ndwyer@alstonco.com (Dallas) Brittany Schneider, Director of Business Development, bschneider@alstonco.com Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects. Company Profile: Alston Construction is celebrating 35 years of excellence in 2021, and we believe our success comes from being a true partner. With 21 offices nationwide, we have market knowledge throughout the country, which provides clients with the best building methods and materials available. Our goal is to provide quality, cost efficient projects that leave a positive experience for our clients and their communities. Notable/Recent Projects: Park 249 - 817,920 square feet LEED tilt-wall warehouse facility park including interior finishes for Amazon in Houston, TX; McKinney National Business Park – 150,000 square feet warehouse/distribution tilt-wall facilities in McKinney, TX; Restaurant Depot – 59,565 square feet pre-engineered metal retail building with cold storage in Pasadena, TX; Valley View Lane Warehouse – 160,000 square feet warehouse/distribution facility in Farmers Branch, TX
CADENCE MCSHANE CONSTRUCTION 5057 Keller Springs Road Suite 500 Addison, TX 75001 P: 972.239.2336 F: 972.239.1214 Website: cadencemcshane.com Key Contact: Will Hodges, President, whodges@cadencemcshane.com Services Provided: Cadence McShane Construction Company offers over 30 years of experience providing design-build, construction management at risk, preconstruction and general construction services on a national basis. The rm’s diverse expertise includes specializing in the Education, Multifamily, Senior Living, Commercial and Industrial market sectors. Company Profile: Headquartered in Dallas, Texas with regional offices in Austin, Texas, Houston Texas, and San Antonio, Texas, Cadence McShane Construction Company provides comprehensive construction services on a local, regional and national basis for a wide variety of market segments. The firm is the builder of choice in the state of Texas and its surrounding region as it deploys a culture of relentless service with an entrepreneurial spirit that originates from inside of each individual and helps constantly deliver reliable results of excellence. Notable/Recent Projects: Hermosa Village Apartments –Leander, TX – 238 modern farmhouse inspired garden-style units, offering one- two- and three- bedroom options.
DEVELOPERS PROLOGIS 2021 McKinney Ave., Suite 1050 Dallas, TX 75201 P: 847.420.8321 Website: prologis.com Key Contact: Kate Rutherford, Regional VP, krutherf@prologis.com Services Provided: Prologis provides approximately 1,600 real estate professionals worldwide with extensive local market knowledge and development expertise to meet complex logistics and distribution requirements. Customers include third-party logistics providers, transportation companies, retailers and manufacturers. Company Profile: Prologis, Inc. is the global leader in logistics real estate with a focus on highbarrier, high-growth markets. As of September 30, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 797 million square feet (74 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,100 customers principally across two major categories: business-to-business and retail/online fulfillment.
SEPTEMBER 2021
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2021
REDnews SAN ANTONIO FORECAST SUMMIT
WEDNESDAY, SEPTEMBER 22, 2021 8:00 AM – 12:00 PM CST CANYON SPRINGS GOLF CLUB 24405 WILDERNESS OAK SAN ANTONIO, TX 78260
www.rejournals.com/eventpage/txsanantonioforecastsummit Jeff Johnson 952.405.7780
Tressa Barzilla 713.661.6316
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Ginger Wheless 713.661.6350 ginger@rednews.com
Abby Lestin 713.249.0242 abby.lestin@rejournals.com
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