REDNews April 2014

April 2014

In this issue: Austin

Land Entitlement in Austin

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

San Antonio

Permitting Growth in San Antonio and Surrounding Cities

Houston

What Do Industry, Polo and the “Urban Pioneer” Have in Common?

“How To Get It Built”

FOR LEASE

OFFICE/RETAIL SPACE 1. Woodland Park Shopping Center 11380 Westheimer, Houston 77077

• Shopping center size - 75,620 SF - Built in 1985 • Retail space available (1st floor) - 1,600 SF - 4,000 SF - $13.00/SF + NNN • Aggressive lease terms • Pylon signage available • Traffic counts - 82,880 CPD (Westheimer) • +/- 592’ of frontage on Westheimer • 372 surface parking spaces available

2. Kaleidoscope

10612-10692 Westheimer, Houston, TX

• 2 blocks west of Beltway 8 • 2,952 SF - 2nd floor • Excellent for retail, office or professional use

3. Park West Plaza

8989 Westheimer, Houston 77063

• 20,000+ SF Available • Up to 6,000+ SF Contiguous Space • Aggressive lease terms - $13.00/SF Gross • Generous surface parking at no charge for open, non-reserved spaces • Card-key controlled access • Pylon signange available • On-site management • Parking ratio - 3.4/1000

Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108

A A Realty Co

eleung8888@aol.com

www.aarealtytx.com A A Realty Co

Accredited Management Organization

Accredited Management Organization

1

2

Beltway 8 West

For more information

3 Westheimer Rd

y

a Westpark Tollw

Table of Contents

Land Entitlement in Austin 10, 12 Permitting Growth in San Antonio and Surrounding Cities 14, 16 “How To Get It Built” 18-19 Online Resources for Building Permits 19 What Do Industry, Polo and the “Urban Pioneer” Have in Common?

20-21, 24 Ray’s BUZZ 30 Last Page: Better Late than Never - Join the Trend 42 Properties For Sale/Lease

Commercial Services Environmental Services

32

Lending 4 Moving & Relocation

41

What’s Happening in Texas CRE Calendar of Events

34–35

Networking Photos

36–37

Deals & Announcements

38–40

Non-Recourse CRE Loans

Most Rental Income-Producing Assets $ 2.5MM-$500MM • Quick Online Loan Review

Call Nathan Ross for more information (713) 392-0662 direct or (210) 598-7201 cell nathan@ncfco.com | ncfco.com

4 REDNews.com

1–3, 5, 7–9, 11, 13,15, 17, 22, 23, 25, 31, 41

For all your commercial real estate needs, we’re here to point you in the right direction.

LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT 48 Acres Development Tract For Sale

24818 Gosling Rd., Spring • Development tract with ideal uses of : Retail, Office, Medical, Residential, Senior Living • Located at the major intersection of West Rayford Rd. & Gosling Rd. (1,240 Feet of Frontage on Gosling Rd. per survey)

5.79 Acres - For Sale The Woodlands Submarket

SWC Woodlane @ FM 2978, Magnolia

4.9880 Acres For Sale

4.67 Acres - For Sale The Woodlands Submarket

6753 FM 2920, Spring

10527 SH 242, Conroe (at Needham Rd.)

29305 FM 2978, Tomball

• South side of FM 2920 between Alvin A. Klein Drive/ T.C. Jester. South of Grand Parkway, F-2 Under construction.

• 4.67 ACRES – divisible, with additional .5694 acres contiguous available, additional 2.182 acres adjacent also available west of site.

• Located within 2.1 North of the new Baker Hughes Western Hemisphere facility

• 8.1mi. to SH 249, Tomball & 5.5 mi. to I-45.

• Growing Woodlands Submarket, approximately 2 miles east of Interstate 45.

• Utilities available through MUD 32 • Proposed use: Industrial & Manufacturing

• Potential Uses: Auto, Fast Food, Service Station, Office.

Industrial Warehouse - For Sale The Woodlands Submarket

Industrial/Flex Buildings Available For Sale, Lease or Build-to-Suit

26639 Hufsmith, Conroe-Magnolia

8900 Fawn Trail, Conroe

• Great opportunity for future development

• Improved property on 5.726 Acres.

• 5,000 SF to 60,000 SF available.

• New apartments built 2013, south of site.

• Improvements include: 7,500 sf; 9,200 sf warehouse, 3,200 sf shop space, 1,900 sf office building, older residential home.

• Located in a well-established, light industrial park adjacent to The Woodlands.

• Application for utility service available through Aqua Texas.

• .48 of a mile north of Woodlands Pkwy.

• New luxury community by Toll Brothers adjacent to site – 2015

• Within 1 mile of major amenities such as St. Luke’s Hospital, Walmart, Home Depot, Lowes, Lone Star College, Sam Houston University, Woodforest Bank Stadium & Natatorium (10,000+ seats), among many others.

Industrial Building - Improved Property For Sale

Brookhaven Business Park For Lease

Office/Industrial/Corporate Retreat For Sale or Lease

15103 Mintz Lane, Houston • 7,000 & 4,500 sf office warehouse on 33,968 sf of land.

• Improvements which include some general office space.

• Lease emplace to Aug. 2014.

4.996 Acres - For Sale Harris County

25702 I-45, Spring

32100 Dobbin Hufsmith, Magnolia

• Brookhaven Business Park is across from The Woodlands with approximately 375’ of I-45 frontage (3 existing curb cuts) in unincorporated Montgomery County.

• 46,832 sf building on 10 acres • Great potential for Corporate Campus • High end finishes, with room for expansion

• 2,700 SF, office/warehouse units (typical) in a 70,200 SF concrete tilt wall business park.

• FF on FM 2978 & Standolind Road • Commercial and residential development under way throughout this market area.

• Five-lane road improvements on FM 2978 completed for Harris County.

Longview Industrial For Sale or Lease

104 Longview, Conroe • 44,904 SF CMU & Steel Dock High Distribution Office/Warehouse on 2.614 acres.

• 22’ Eave Height, 10 Front Load Dock High OH Doors.

• 50 Parking Spaces and spacious truck courts with Security System and Security Lighting.

• City of Conroe Water & Sewer. 200a/480v 3p elect • Site is approximately 2.4 miles east of I-45.

Pines Business Park For Sale or Lease

26009 Budde Road, The Woodlands • Four (4) metal, single and multi-tenant, office/ warehouse/flex buildings that range in size from 5,000 to 6,000 square feet for a combined total of 22,000 square feet of gross leasable area.

• 1.99 Acres (86,684 S.F.) Excellent location along the west line of Budde Road, approximately 200 linear feet south of Nursery Road.

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

281.367.2220 jbeardcompany.com 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.

Publisher’s Letter

PUBLISHER

Ginger Wheless

ginger@rednews.com

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

EDITOR Marjorie Gohmert marjorie@rednews.com STAFF WRITER Janis Arnold CONTRIBUTING WRITERS Ray Hankamer rhankamer@gmail.com Austin - Jill Rowe San Antonio - Kim Gatley ART DIRECTOR Connie Marmolejo - connie@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com DATABASE MANAGER Jason Marshall jason@rednews.com DIGITAL ENGAGEMENT DIRECTOR Chris King chris@rednews.com SALES Ginger Wheless ginger@rednews.com

Print & Digital Distribution

Dear Readers, This month’s issue will find us at the Real Estate Center Outlook for Texas Land Markets Conference in San Antonio where we expect to hear all good news.

Several years ago I recall Charlie Gilliland, Research Economist & Land Expert at Texas A&M Real Estate Center, discussing how depressed the recreational land market was and today he says because of the tremendous growth in Texas, there is a dramatically increased interest in recreational land. Although the average tract size of recreational land today is slightly smaller, both large and small tracts are selling and in some areas, prices have increased ten per cent or more.

REDNews is directly mailed each month to commercial real estate brokers, investors & developers in the following cities /areas as well as 200+ locations throughout Texas: Texas Brokers 7,650 Texas Leasing / Tenant Rep 6,232 Texas Investors 4,979 Texas Developers 4,710 Outside Texas Investors, Brokers, Developers, etc 81,577 Total REDNews Distribution 105,148

REDNews Has Gone Green Using Recycled Content To subscribe to REDNews call 713.661.6300 or log on to www.REDNews.com/free 5959 West Loop South, Suite 135 Bellaire, Texas 77401

I spoke with Gary Maler, Director of the Real Estate Center at Texas A&M, about Houston’s westward growth and he stated that the prognostications of Texas demographers are that, within 20 – 30 years, there will be a continuous string of urbanization from Houston to San Antonio along I-10. Little towns will become bigger towns and they will all be interconnected. I also visited with Tom Conlan who has been selling real estate in the Katy area for the past 35 years and he “could never have imagined that land prices for the Katy prairie would be as high as they are now”. (see pages 20, 21, 24) Since there is so much development in Texas, we attempted to shed some light on the daunting development planning/permitting processes by sending out a survey to over 300 Texas cities & EDCs in hopes of giving you a spreadsheet of information regarding “how to get it built”. At press time, we were still collecting information so look forward to seeing more in the future. In the interim, thank you to Kim Gatley in San Antonio, Jill Rowe in Austin and Patti Joiner/Tom Hosey in Houston for their help in those cities.

Hope you had a great Spring Break and are ready for ICSC Las Vegas!

Ginger Wheless

6 REDNews.com

37,100 SF Office Medical Building For Sale 5802 Holly St. Houston, TX 77074

1,050 SF – 2,100 SF Retail For Lease 9889 Bellaire Blvd.

Houston, TX 77036

Close to Texas Medical Center 22,885 SF Office & 14,250 SF Warehouse

Located on 2nd Floor of Dun Huang Plaza Houston Chinatown

5,000 – 12,000 SF Retail For Lease 5920 Highway 6 N. Houston, TX 77084 Motivated Landlord Most Affordable Rates!

1,350 SF Retail For Lease 10020 Kleckley Dr., Houston, TX 6,000 – 18,000 SF Retail For Lease 12914 Bellaire Blvd, Houston, TX 3,500 SF Office Showroom For Lease 10400 Harwin Dr., #C Houston, TX 77036 1,200 – 8650 SF Retail Space For Lease 918 W Southmore & Richey Pasadena, TX 77502 Newly renovated center.

Former Domino’s Pizza For Sale/Lease 3003 S Richey St Houston, TX 77017 1,560 SF. High Traffic Area.

Former Bank Building converted into Medical Clinic. Great potential.

40,000 SF Retail For Lease 9600 Bellaire Blvd.

Houston, TX 77036 Prime Location, great for Banquet Restaurant, Medical Clinic, etc.

Houston Chinatown.

1.02 Acres Retail Pad For Sale 14200 Alief Clodine Rd. Houston, TX 77083 Great Site for Car Wash or Fast Food

8.22 Acres Retail Land For Sale 6400 M.L.K. @ S Loop 610 E Houston, TX 77033 Priced to Sell!

2.67 Acres Office Land For Sale Red Oak Dr. and Drava Houston, TX 77090 Hard Corner Tract

21,000 SF Residential Land For Sale Shady Hill Dr & Decker Dr Baytown, TX 77521 Six residential lots ready to build.

7.80 Acres Retail Land For Sale 13003 Windfern Rd Houston, TX 77064

46,657 SF Retail Land For Sale SEC FM 2234 and Buffalo Run Missouri City, TX 77489 Unrestricted. Price Reduced!

6400 Acres Land For Sale Terrell County Dryden, TX 78851 Fully fenced. Currently leased for hunting ranch

4,200 SF Professional Office Condo For Sale 6918 Corporate Dr. Houston, TX 77036 Ideal for Medical Clinic

12,000 Acres Land For Sale Culberson County Van Horn, TX 79855 Ranch Property

6.90 Acres Multi-Family Land For Sale SEC Canino Rd. and Winfrey Houston, TX 77076 Adjacent Land Also Available 22,443 SF Retail Pad For Sale SWC Canino Rd and Hardy Toll Road Houston, TX 77076 3.57 Acres Retail Land For Sale 5906 Highway 6 Houston, TX 77084

1.89 Acres Retail Land for Sale FM1464 (Clodine Rd.) Houston, TX 77083 High Growth Area between Mission Bend & West Oaks subdivision.

2.48 Acres Retail Land For Sale SEC Bellaire Blvd. and Corte Calle Houston, TX 77083 Multi-family, residential & mini-storage around tract

1.58 Acres Retail Land For Sale 6600+ Synott Rd., north of Bellaire Blvd.

Houston, TX 77083 Great Potential

8,401 SF Office Building For Sale 8330 Westglen Dr. Houston, TX 77063 Formerly used as education/community center. Well maintained.

1.47 Acres Retail Land For Sale 6300+ Synott Rd. Houston, TX 77083 Senior Home Project Under Construction behind Tract 7.0 Acres Residential Land For Sale Nunn St at Kingsway St Houston, TX 77087

4,000 SF Freestanding Building For Sale 12112 Bellaire Blvd.

Houston, TX 77072

13.58 Acres Land For Sale Belknap Rd. close to Old Richmond and Bissonnet Sugar Land, TX 77498 Priced For Quick Sale!

22.0 Acres Land For Sale 2949 Gulf Freeway League City, TX 77573 Price Reduced To Sell!

SALE PENDING 165,800 SF Retail Center For Sale 6610 Antoine Dr. Houston, TX 77091 Priced To Sell!

SALE PENDING 3,275 SF Office Condo For Sale 6833 W Sam Houston Pkwy S Houston, TX 77072 100 % Built Out. Excellent Condition!

986 Acres Land For Sale FM 2004 Angleton, TX 77515 Currently leased for rice farming.

54,000 SF Retail For Sale Bellaire Blvd. and Synott Rd. Houston, TX 77072 Rare opportunity for mixed use condo for sale. Ideal for user or investor.

WANTED • 1031 exchange Seller wants to buy Houston income properties up to $8,000,000 cash in the next 120 days.

• Overseas Asian Buyers want to invest real estate projects from $5MM to $20MM. • EB-5 reinvestment projects for international investors in Houston area.

Kenneth Li, CCIM SOUTHWEST

Phone: 713.988.1668 • Mobile: 713.826.3388 Kenneth.Li@Century21.com 6918 Corporate Drive, A-5 | Houston, TX 77036

Personalized Service. Proven Results.

www.tarantino.com

NOW LEASING | 8313 Southwest Freeway

Up to 25K Open Concept Space Ideal For School/Engineering Firms

Visit the new Center website for all the amenities, photos and floor plans! www.thecenterbuildings.com

Kris Lilly| klilly@tarantino.com | 713-772-6633

450 N. Sam Houston Pkwy

Airport Office Building | For Sale or Lease

450 N. Sam Houston Pkwy, Houston, TX

8031 Airport Boulevard, Houston, TX

• Up to 10,000 SF Available

• • • •

• L ocated just 15 Minutes from George Bush Intercontinental Airport • Covered Reserved Parking Available • Monitored After-Hour Card-Key Access System

Eric Ohlson | eohlson@tarantino.com

Excellent Owner/User Purchase Opportunity Full Building Available - 33,854 SF Across From Hobby Airport Great Location - Perfect Combination of Local Access and Global Reach • Building Identity Available

Peggy Rougeou | peggy@tarantino.com

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

San Antonio Office:

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

Bingle Village Shopping Center

2305-2339 Bingle Road Houston, TX 77055 • 3,263 -8,976 SF Retail Space Available • Pylon Signage Available • Extensive Parking • Landlord will Build to Suit for Credit Tenant

Eric Dr ymalla | edr ymalla@tarantino.com

De Zavala

12770 Cimarron Path San Antonio, TX 78249 • 3,000-10,000 SF, Flex Office & Biomedical Space Available • Generous Tenant Finish-Out Allowance

Austin Office:

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

Angleton Four Corners Shopping Center

1804 N Velasco Street Angleton, TX 77515 • • • • •

2,137-18,238 SF Available Center is Located Across the Street From Wal-Mart Pylon Signage Available Traffic Count Exceeds 13,000 Cars Per Day Retail Center Remodeled in 2014

Peggy Rougeou | peggy@tarantino.com

Brownstone Office Condominiums

16110 Kuykendahl Rd Houston, TX 77069 | $1M •5 .393 Acres of Land in North Houston with Improvements & 5 Office Buildings Totaling Over 20,000 SF

• Northwest Location with Easy Access to I-10 & 1604

Coni Jenkins| cjenkins@tarantino.com

Larr y Vickers | larr y@tarantino.com

Land Entitlement in Austin

by Jill Rowe Rowe Development A discussion on land in Austin begins first with entitlement, followed closely by location, location, entitlement.

Timeline Pamela Madere, an attorney who is Director of Land Use and Real Estate with Coats/Rose, an established law firm, shared her insight. “On one hand I don’t want to scare people but I want to be realistic. A Plain Jane site plan can be six months, but with any kind of variances or issues, Pamela Madere can easily be nine to twelve months. This also depends on schedules of holidays and summer. For raw land if it’s both site plan and subdivision, add another three plus months onto that.”

According to Vincent Musat, P.E., LEED AP BD+C with Doucet and Associates, an experienced firm in Austin that recently celebrated their 20 year anniversary, “Entitlements required for properties vary greatly from site-to-site and cannot have a predeVincent Musat termined timeline or scope.

It is not possible for a project timeline to be provided with any certainty without having a specific project.” It’s well known that project times vary widely and some can be double or triple other timelines.

Money and Typical Scenarios Musat said “Because of the variance of the entitlement process, the amount of time, and money involved to entitle or permit a tract of land, it is difficult to say how much money will be required.

There are so many factors involved it is very hard to tie down specifics. A lot of the variables depend on the team members needed to entitle or permit a project.”

“To change zoning where there is a neighborhood plan in place, first change the neighborhood plan, then the zoning. It’s a two-step process, done either simultaneously or one after another.” said Madere. “Say it’s an existing in-fill multifamily development; to redevelop it could cost $70,000100,000. Often it includes assemblage of multiple zonings.” The most common issues are: “traffic, setbacks, height and density. A typical scenario would be someone not familiar with the complexity of Austin buying an apartment complex by the University of Texas with a certain zoning, and they hope some day someone else or they will redevelop it. They see it is zoned for 60 feet. Later they come to know the neighborhood plan or other overlay impacts the property and see it’s really 40 feet, not 60 feet. It’s not enough to look at zoning and think you are okay. You need to work with someone who understands the various overlays.”

“Other property may be grandfathered. A neighborhood association wasn’t active but it is now.

You have to allow additional time on due diligence.

Due diligence is of the utmost importance as the regulatory climate is so complex with the City of Austin and or Travis County. Even the educated developers and buyers need help. You can’t just rely on one consultant. There are complicated layers open for interpretation. Code is piecemealed together. It takes several sets of eyes to come up with all of the possible scenarios before choosing the best plan. This needs to happen before the first submittal. You need a game plan in advance.”

Jim Brewer, P.E. and Senior Project Manager with Doucet gives his perspective. “First we need to determine if the project will involve a single lot, or will there be multiple sites/lots within the development? Single lot developments are much simpler than planned developments.”

Some of the items we research are: 1. What is the existing zoning? Is it compatible with the planned use?

2. Are there any specific area regulations that affect the tract, such as Corridor Overlays or Neighborhood plans?

3. Is the land considered a legal lot, or will it need to be subdivided with a subdivision plat?

4. Will a preliminary plan need to be prepared if the development will have public/private streets?

5. Are we in an environmentally sensitive area that will restrict land use? Is the site over the Edwards Aquifer Recharge Zone or a bird habitat?

6. Is there an adequate water supply for the development or are water commitments required?

7. Are utilities available for the property or are off-site improvements required?

8. Will trees be an issue? Are there Heritage trees that need to be planned around?

9. What is the site topography? Will development require massive grading plans?

10. Are traffic studies going to be required? Is the existing roadway structure adequate or will improvements be required?”

Brewer continued, “Within the City of Austin it is recommended that the development team meet with city staff for a Pre-Development Meeting where the project concepts are presented to determine if city staff can bring up any red flags that may affect the development. You should have a concept plan put together to use as a template to show the planned development. Then a preliminary plan needs to be prepared that will refine the concept plan and show how the development will be served by utilities and handle drainage. Once the city has approved the preliminary plan, you can start preparation of the final subdivision plats and construction drawings for the improvements. This can be done in phases to reduce upfront costs.” continued on page 12

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Building & Land For Sale | 23.36 Acres

713.690.0000 CaldwellCos.com

Beltway 8 & West Rd Building & Land For Sale | 23.36 Acres

Beltway 8 & West Road

FEATURES • Approximately 1,400 Feet of Beltway Frontage • Secondary Access From West Road • Great Beltway Visibility • Approximately 25,500 Square Feet Multi-Purpose Building • Area Businesses: Enterprise Products, in a 175,000 SF Class “A” Office and Kroger, LA Fitness, Bank of America, Walgreens • Area Restaurants Include: Whataburger, Taco Cabana, Sonic, Wendy’s, KFC, Taco Bell, Chick-Fil-A, McDonalds

Land for Sale | 15.9 Acres

$12.00 PSF or $12,210,739

Jones Rd & Mills Rd

For Sale ■ 23.36 Acres ■ Ideal Use: Office, Industrial, Multi-Family or Retail

Land for Sale | 15.9 Acres

Jones Road & Mills Road EATURES

Approximately 1,400 Feet of Beltway Frontage Secondary Access From West Road Great Beltway Visibility Approximately 25,500 Square Feet Multi Purpose Building Area Businesses: Enterprise Products in a 175,000 SF Class “A” Office.

Kroger, LA Fitness, Bank of America, Walgreens Area Restaurants Include: Whataburger, Taco Cabana, Sonic, Wendy’s, KFC, Taco Bell, Chick-Fil-A, McDonalds.

Taxes Cy-Fair ISD Lone Star College Harris County Total Taxes:

$1.45 $0.12 $0.69 $2.26

Key Map: 410E FEATURES

Demographics

• Frontage on three streets: Jones Road, Mills Road and Mist Lane

3 Mile Radius Population: 85,060 • W$83,092 raps corner of Jones Road and Mills Average HH Income:

Road

5 Mile Radius Population: 235,279 • Quick access to SH 249, FM 1960 and Average HH Income: $77,977 Beltway 8

• All utilities are available to the property

$12.00

PSF or $12,210,739 $3.75 PSF

The information contained herein is believed to be correct. However, no warranty or representation is made. All prices are subject to change without notice and property is subject to prior lease, sale or withdrawal from the market without notice.

For Sale ■ 15.9 Acres ■ Ideal Use: Multi-Family, Office, Warehouse, Retail

For more information, contact Keith P. Grothaus, CCIM, SIOR

more information, contact Office: 281.664.6635 FEATURES

FrontageKGrothaus@CaldwellCos.com on three streets, Jones Road, Mills Road and Mist Lane. . Grothaus,■Email: SIOR, CCIM ■ Wraps corner of Jones Road and Mills Road.

4.6635 | KGrothaus@CaldwellCos.com ■ Quick access to SH 249, FM 1960 and Beltway 8.

■ All utilities are available to the property.

Key Map: 369K

Demographics

3 Mile Radius Population: 98,660 Average HH Income: $94,858

continued from page 10

“Going through the entitlement process and obtaining the required permits within the City of Austin can be quite an arduous process for any developer not familiar with the local regulations,” Brewer said. Generally speaking, it will take a project four months to have a preliminary plan prepared, submitted, reviewed and approved by the city. It will take four months to get a subdivision plat approved. A subdivision plat can be reviewed simultaneously with a preliminary plan; however, you are at risk of having to make revisions to address city comments on the preliminary, so it is best to stagger the plat processing and not submit until after the first round of comments have been received and cleared. The City of Austin also requires a site development permit, which includes the site layout plan and all underground utilities.

You have to have a legal lot established before the city will issue a site development permit. The city will allow you to submit your site development permit (SDP) application at the same time as the final plat application, but the SDP will not be approved until the final plat has been recorded and an address assigned to the property. Depending on the complexity of the project, obtaining a site development permit can take upwards of six to eight months from start of design to issuance of the permit. Once you have your site development permit, you can make application for the structure building permit.

Who do you need on the team?

Musat said, “Site location and requirements required to entitle the tract of land can include; Environmental Consultants (Phase I & II, Jurisdictional Waters of the US and Wetlands, Archeological & Historical issues, etc.), Surveyors (Boundary Issues, Easements that are unresolved, Title Issues, etc.), Geotechnical Consultants ( if poor soil conditions, expansive clays soils), Structural Consultants, Land Planners, Architects, Project Marketing personnel, Public Relationship Team, etc… All of these individuals contribute information to a Development Manager who needs to be kept very well informed. The Development Manager needs to have a broad range of knowledge and be able to communicate effectively with all team members.

Without an individual with a good understanding of the processes a project can stagnate and the team can get off track toward the ultimate goal of attaining a permit. This individual needs to be very responsive and able to make decisions quickly in

12 REDNews.com

order to keep the project moving toward a permit or entitlements.”

“While each team varies, an engineer, land planner, attorney intimately familiar with code and political process, and someone who knows permits and the permit process are common elements,” according to Madere.

Looking ahead Where is the process headed? Austin is having the first major code rewrite in decades, and on that team are a variety of experienced people from all disciplines and interests. Madere said that while initially there were some concerns, the mix of those for neighborhood and those who are daily practitioners have the experience to do a good job.

“Going through the entitlement process and obtaining the required permits within the City of Austin can be quite an arduous process for any developer not familiar with the local regulations”

Madere also said, “Know what you are buying. Take the time, understand what you can do beyond the basic zoning, what other limitations or requirements there are. A contract with a 3-6 month standard due diligence is not enough. Know the market, where it is going in the future, also rapid transit, and the direction the city is growing with the influx of people. Down the road anywhere within Highway 183 north/ Loop 360/ Ben White to Highway 183 east is a great bet.”

“Even with deadlines, such as site plan comments (28 days to issue comments), in my experience roughly 30% of the time the city exceeds the deadline. They tag extra days to the 180 days they give me; still what we really need is to get comments on time. We manage that by checking on the status of

comments a week before, then calling a week out, 3 days out, a day out. It’s a lot of handholding at a high level.” Madere continued.

How the city is addressing the issues on their side, “To fix the process, and internal deadlines, staff needs accountability for meeting deadlines.”

Madere said. “Director, Greg Guernsey, has really tried and is very accessible, working twelve hour days. He’s done a good job of getting staff to another level. They have a ton of positions open, are overloaded, yet never get around to getting them filled. They’ve experienced a big brain drain with really experienced people going private or retired.

Rotating attorneys are at the city, and staff wants to stay until eligible for retirement, then do private permit consulting.”

Austin is currently deciding what to do with the budget excess that has come from excess revenue above budget, partially due to a 25% increase in development fees October 1, 2013, demonstrated as necessary to run the office. Ironically, while dozens of proposals have come forward, none have reportedly included using the permit fees in the permit office.

What if people want to do it on their own? Madere said, “People don’t want too many consultants, yet doing it alone is dangerous in Austin. It’s worth spending a little bit of money.”

For those of us who have decades of experience here, it’s like a skydiver without a parachute if you go it alone. It’s rare they return. Yet, like skydiving, those with well-laid plans and an experienced team will land relatively safely and return to do it again.

Jill Rowe is Chief Visionary of Rowe Development; an Austin based commercial broker, developer, strategist, consultant and expert witness, and has been brokering, developing, assembling and consulting on CBD commercial real estate over the past two decades, including one of the former Intel parcels and surrounding properties back before West Sixth was cool, and is actively involved in numerous CBD developments currently. She can be reached at rowedevelopment@gmail.com or 512-750-1977.

601 HEIGHTS BLVD @ WHITE OAK 15,000 SF (CURRENTLY A CHURCH’S CHICKEN)

3435 W HOLCOMBE BLVD. @ SEWANEE 16,750 SF

(CURRENTLY JIFFY LUBE & PET GROOMING S )

3525 W. HOLCOMBE BLVD. 31,500 SF

(EXISTING APARTMENTS ALL MO-TO-MO.)

 ALL SITES UNRESTRICTED USE  GROUND LEASE OR BUILD-TO-SUIT

SCOTT RUBENSTEIN

713-799-1676

www.pipelinerealty.com www.pipelinerealty.com

LAND/CHURCHES FOR SALE

INNER LOOP SITES AVAILABLE

Multi-Purpose Facility w/housing

15402 Sellers Rd. - 7,000 SF....................................................... $275,000

NW Houston Church

10225 Woodedge - 20,000 SF........................... .................... ... $1,100,000

Miracle Life Church International

9930 Aldine Westfield - 3,200 SF................................ ........... ..... $299,500

3.9 Acres

7225 Bellfort Avenue..................................SALE PENDING.............. $174,500

Miracle Christian Fellowship

16310 Chimney Rock - 15,000 SF.............SALE PENDING.............. $855,000

Multi-Purpose Bldg

710 College St. - 7,200 SF........................................................... $650,000

Religious Facility in South Houston

Beaumont St. @ Illinois - 11,800 SF............................................ $799,000

Baytown Campus/Training Center Facility (Income producing property)

301 Ilfrey................................................................................... $3,400,000

Pasadena Church

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Permitting Growth in San Antonio and Surrounding Cities

by Kim Gatley Sr. V.P. & Director of Research REOC San Antonio Like most Texas cities, rapid population growth in San Antonio and surrounding cities has local officials scrambling. The concern, of course, is keeping up with the aggressive pace of development and meeting the infrastructure needs to support new residents.

guide economic development, land use and public facilities such as the San Marcos Airport which is slated for overlay, lighting and markings on the field. Additionally, city leaders are working to develop conceptual plans and a budget for a proposed expansion of the public library.

Just north of San Antonio along the Interstate 35 corridor, the City of New Braunfels is also experiencing strong residential growth. Permit revenue showed a 10 percent increase in 2013. New budgets point to several new projects. As part of the City of New Braunfels 2013 Bond Program ($86 million), approved by voters last May, the Alves Lane Improvements Project is underway. This $7.8 million project will improve drainage in the area and help relieve congestion on SH-46. According to Project Manager Will Martinez, “survey and geotechnical crews began collecting data in December.” Three more projects, approved as part of the 2013 Bond Program, have been initiated: Klein Road Reconstruction, Blieder Creek/German Creek Watershed Improvement; and Wood Road/Landa Street Drainage Improvement Preliminary Design.

The City of Schertz, one of several communities in the Randolph Metrocom Area just northeast of San Antonio, has seen an influx of industrial development due to the city’s pro-business environment. David Gwin, Executive Director of the Schertz Economic Development Corp. points to four major companies that have invested in the Schertz area since 2010. Most notable is Amazon. com’s $200 million investment in its 1.26-millionsquare-foot Fulfillment Center which opened in October of last year. Sysco reportedly invested roughly $80 million for its 650,000-square-foot distribution facility. Most recently, GE Oil & Gas Inc. announced plans to invest $8 million to expand its existing 400,000-square-foot manufacturing facility located just off Interstate 35 at Schwab Road.

Schertz agreed to fast-track the permitting process and will extend a road near the facility at the cost to the city of approximately $200,000.

To address growth in the City of San Marcos, one of the country’s fastest-growing cities, city officials are working to implement a new master plan called “Vision San Marcos: A River Runs Through It.” The comprehensive plan contains elements to

At the close of fiscal year 2013, the northeast satellite City of Converse reported permit values totaling nearly $31.4 million. To encourage growth,

Converse officials recently mapped out a strategic master plan that features the Converse 1604 Commercial Corridor Study. “The study is an attempt to encourage growth – and not just haphazard growth – but smart, thought-out growth,” says Kate Silvas, Executive Director of Economic Development for the City of Converse. It is intended to be used as a tool to fulfill a vision of a new, vibrant corridor in the greater northeast San Antonio area.

Silvas took the time to answer several questions that give us an inside look at the development process in her city. In addition to offering a Triple Freeport as an incentive for businesses with qualifying inventory, Silvas reported that Converse has adopted a tax abatement program that offers up to 100 percent tax abatement for up to 10 years depending on the level of investment and number of jobs created. The Converse Economic Development Corporate also offers capital investment assistance to qualifying businesses.

At this time, there is no cost for a site development permit in Converse but site development requires a completed building permit application, two sets of plans for the Building Department, one set for the Fire Department, and one set for the Utilities, Erosion control and Street Department. Drainage plans are submitted separately. Storm water drainage approval normally take 10 to 15 days and Erocontinued on page 16

14 REDNews.com

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REDNews.com 15

continued from page 14

Commercial/Residential New/Existing Permits Permits

20,000

Source: City of San Antonio Development Services Fiscal Year* ‐ YTD as of end of February 2014

$ Billions $ Billions

18,000

sion Control 5 days or less.

Building permit can take up to 30 days depending on completeness of plans and additional reviews submitted to the Building and Fire Departments. Site Development approval is through City Hall Staff and Building Department.

Additional fees include water impact fees. Depending on the location, the City of Converse, San Antonio Water System and San Antonio River Authority may impact the project.

$3.0

16,000

$2.5

14,000 12,000 ,

$2 0 $2.0

10,000 $1.5

8,000 6,000

$1.0

4,000

$0.5

2,000 , 0

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Total Permits Total Permits

In San Antonio, the development services department staff serves as the gatekeeper for construction projects. All development within the city limits starts here – it is where real estate projects go to live or die based on whether the necessary permits are approved.

Permits are required for projects ranging from general repairs of an existing structure to the ground-up development of a major office tower and almost everything in between. Long before any dirt gets turned, a building contractor or residential builder may schedule a preliminary development meeting with city staffers to review initial plans and begin the process of submitting necessary permit applications. Another option is to hire a building permit service company to shepherd plans through the city’s permitting process.

Because of the variability involved, there is no universal answer to how much a building permit costs. Building permit fees depend on the amount and type of work being performed. Likewise, the time table for obtaining permits also varies. Some permits can be approved within a few hours to two (2) business days while larger, more complex projects will take longer to approve.

The combined total number of Commercial/Residential New/Existing permits has rebounded since the market turned in 2008. At the end of fiscal year 2013, San Antonio recorded 13,977 total permits – topping totals for the past five years. At nearly $2.3 billion, the total value of 2013 permits is up significantly compared to those recorded in 2010-2011 but activity in San

16 REDNews.com

$3.5

Total Valuation Total Valuation

$0.0

Antonio has not neared the peak performance of $3.1 billion in 2008. In other words, the city is seeing more projects but the scope and value of those projects has not yet returned to boom levels in the last expansion cycle.

(See chart, left) A new fiscal year began on October 1st. Through the end of February, the City of San Antonio Development Services Department reported a total of 4,115 permits with a combined value of nearly $1.37 billion.

In the nearby southern-tier communities of the Eagle Ford Shale, activity has inundated city leaders. The Eagle Ford Shale has had an unprecedented impact on the South Texas economy. There is plenty of hard data to document the population, employment, and economic growth throughout the region but the supply of information regarding the impact on the development process is in much shorter supply. One of the first things developers looking to build in the Eagle Ford must understand is that it is not one homogenous area. Instead, it is a vast territory made up of many small cities and towns, each with their own way of doing things. Most don’t have a 25-page description of development fees like San Antonio does. The City of Three Rivers clearly posts the cost of a building permit for a new commercial building at $300 per building - plain and simple with no regard to size or valuation.

Regarding timelines, you may need to read between the lines. The City of Pleasanton, for example, states on its website that the standard turnaround time for a plan check is five weeks. Small projects that do not involve review by multiple departments may return from plan check in less time, depending on the workload. Fast track is generally not available, especially on multi-departmental reviews where additional routing and coordination is required. Special review turnaround needs are considered on a case-bycase basis only. “Depending on workload” takes on a whole new meaning in light of the extraordinary activity the region has undergone over the past two years.

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Patti Knudson-Joiner talks to REDNews

“How To Get It Built” in Houston

Patti Knudson-Joiner Knudson LP Patti Knudson-Joiner, President and CEO of Knudson LP, previously served as the Director of Houston’s Planning Department (during the Whitmire administration). “This was a fabulous time to be in Houston because we were wildly successful at building in the early ‘80s and then had a period where we had to put the brakes on, which presented a great opportunity to evaluate training and project management and ordinance needs to improve our city.”

transportation planning, economic development, and has a construction management division. “We are able to plan, design, finance, and build your development dreams,” said Patti. Right now her company is involved in many transportation rail projects in Houston and Austin. “The Texas highspeed rail project actually will be starting this summer and that will be looking at an EIS (Environmental Impact Study) between Dallas, Fort Worth and Houston.”

Specific changes that the city has implemented are designed to help builders and developers meet the demands of a booming economy’s construction industry.

• There is a deadline in place that requires the city’s building office to review permits and provide comments within 11 days. There is a state law that requires permits to be considered and addressed within 30 days. This is known as the 11-day review and 30 day turnaround timeline.

Patti now does land development and planning and platting within the private sector; however, having worked for the city for 18 years, she has a unique vantage point from which to analyze what it takes to get a project through the city’s planning/ permitting departments. “The problem that my industry is facing in Houston today can be characterized as somewhat of a double – edged sword,” said Patti when speaking with Ginger Wheless, REDNews’ publisher. “While the construction industry in Houston is booming, the city planning department is still trying to recover from the recent downturn in the economy that caused many positions to be lost to attrition or retirement, to go unfilled. Now that things have turned around, they still are trying to play catch-up to meet the demands of the day.”

Although Patti’s company does not obtain project permits, she does do land development, planning, and platting for clients, is able to steer her clients in the right direction and toward the right people in order to facilitate the unique permitting needs of each specific project. She has a park-planning division, a subdivision planning division, and an environmental planning division. Knudson does

18 REDNews.com

• Patti’s standard approach is to schedule premeetings with the fire department or the planning department when a project presents unusual building code issues. This tends to facilitate matters, especially as Houston has a very complicated mixed-use code that wasn’t actually written to address the vertical mixed-use projects that are becoming increasingly common in Houston.

• Houston’s building codes were developed for office buildings, retail centers, and residential neighborhoods, rather than urbanist concepts such as are common in Chicago and New York.

Developers are designing and building office buildings that include restaurants and retail as well as some that are incorporating apartments.

Patti suggests that developers of urbanist type projects bring their preliminary plans and schematics in and talk to the city before they get their percentages set. This avoids spending six months with consultants and six months in the neighborhood having engineering design meetings that result in the formulation of infeasible plans. “I keep notes from that pre-meeting

that says, we met on March 1st. These 12 people were present, this is what we discussed, and based upon the city’s input, these are the preliminary set of plans we’re submitting. This is just good project management.”

• The city likes to see designers/developrs during the pre-planning stage as the code interpretation on complicated projects can be daunting.

“Interpretation on these codes is often very much dependent upon “the eye of the beholder”; thus it makes sense to get the city involved before you spend time and money on architects. By way of example, in the new code, there are lots of provisions for parking and loading docks and other aspects of design that affect even some building designs that initially appear very straight-forward.”

“The whole idea of having a great city and a better land development process should mean that we’re doing it right. If it takes a variance to do that, then we need to fix the rules, so that we’re not continually needing to ask for a variance in order to build projects well.”

Challenges present in the planning/platting/permitting process include: • Builders and developers need to know the building codes, and understand the rules in place in order to submit quality packages. If there are mistakes or omissions in the initial submission, often the city will catch it, but if they don’t, and that happens as well, especially in today’s fastpaced market, then likely it will be caught in the second review, which of course will delay the project’s timeline. Patti frequently hears this comment: “It took me three tries to get my plat

out of there because they kept finding mistakes.” To which she wonders, “Then why did you submit the mistakes?”

• Due to the city’s personnel shortages, that are now being addressed related to the recent economic downturn, the city is striving to make sure that all new and seasoned employees have adequate training in order to efficiently review plans and plats, and to evaluate the construction drawings that are coming in from developers. Ongoing training is needed. “You can’t just have initial orientation and leave it at that. Training is needed in the private and public sector.”

• The city doesn’t intentionally miss things when they review plans. “It’s not like they’re sitting over there saying, ‘let’s just forget about this on this set of drawings and make them come back.’ Working with them expedites the process and is beneficial to all stake-holders.”

• “The whole idea of having a great city and a better land development process should mean that we’re doing it right. If it takes a variance to do that, then we need to fix the rules, so that we’re not continually needing to ask for a variance in order to build projects well.”

Online Resources for Building Permits

Tom Hosey City of Houston Tom Hosey, C.B.O., CASp, Senior Assistant Director -Building Official for the City of Houston, tells people that the set of plans submitted should have enough detail so that the same set of plans can be given to any competent/capable builder and result in essentially the same product. Many projects initially submitted to the city simply don’t possess that adequate amount of specificity.

The city has many online resources regarding what is expected and required. These include: • Commercial Permitting 101, a comprehensive document approximately 50 pages in length that will help you navigate the permitting process. http://edocs.publicworks.houstontx.gov/all-documents/ division-files/planning-and-development-services-division/enforcement/forms-and-publications/plan-review-handouts-guidelines/98commercial-permitting-101-presentation.html • Residential Permitting 101 addresses what is required by the city for architects and engineers working on residential projects. http:// www.houstonpermittingcenter.org/code-enforcement/publications.html/#residential

• Some ordinance modifications made in the past have created long-term, negative effects on neighborhoods. An example in point can be found in the 17-foot setback ordinance for townhomes. The net effect of this rule is that a front-loaded garage on a public street often means that a vehicle is parked on the street and likely over the sidewalk, which ultimately results in pedestrians having to walk in the street. This results in a continuous curve on a public street with 24-foot garage doors, and no place to park on the street for guests. “Townhome builders are aware of this law, and are in favor of it, although to my mind, it creates a negative effect on neighborhoods and should be addressed,” said Patti.

Suggestions for expediting the planning/processing/permitting process in Houston going forward: • Use technology to make the process more streamlined. Submissions can now be done digitally.

• Provide complete documentation for each step in the process by using available technology. This of course requires all involved to keep up with what is out there that can be used.

• Harris County uses an innovative exciting program for engineers to submit construction drawings that the city should consider. “This is almost an interactive ‘GoToMeeting’ session where the engineer or architect can have drawings reviewed and view comments of the examiner, and retrieve them and use their own AutoCAD system to edit those comments and reply to them.”

• Information regarding the pre-submittal meetings. For large, or even moderately substantial projects, it is helpful to call and speak to the Deputy Assistant Director and Planner, Earl Greer, or one of his assistants to set up a meeting.

• For residential projects, the city normally doesn’t do a formal presubmittal meeting. Lisa Brown and her ombudsmen will be happy to set up a meeting or explain the residential process over the phone.

• The city is moving toward digitalizing the process and is replacing the older permit tracking process called ILMS. • The city is currently going through procedures to update the International building codes from the 2006 series to the most recent 2012 version. The Construction Industry Council is one agency that does a thorough review of proposed changes. http://www.houstonpermittingcenter.org/code-enforcement/publications.html • Stakeholders include anybody who has an interest in specifics regarding building codes that are adopted by the city.

Tom says, “We are all trying to work together and get a good job done.

One of the city’s biggest challenges is the workload. It has just gone through the roof lately. It’s very difficult for us to keep turnaround times moving and to provide quality service when the project submissions have increased to the volumes we are currently seeing.

We’re advertising that we need good inspectors and plan examiners and we’ll be conducting job fairs, so put the word out. We’re hiring!”

• “Keeping up with fast-changing technology isn’t easy but must be practiced. This needs to be a mindset for those of us in the industry as opposed to occasionally noticing something and saying ‘someone thought up a great idea today. I might try it.”

REDNews.com 19

Sealy

Brookshire

Katy

What Do Industry, Polo and the “Urban Pioneer” Have in Common?

Fulshear

Gary Maler, Director of the Real Estate Center at Texas A&M, grew up in Brookshire, Texas, and is one of REDNews’ go-to people for information Willis about real estate management and development, land suitability, market studies regarding impending projects, and general information about Texas’ commercial, entertainment and retail centers. Recently Ginger Wheless of REDNews and Gary had a conversation about development that is occurring west of Katy, Texas.

Gary split his career between real estate development and leading the Real Estate Center at Texas A&M. He is co-owner of a ranch in Burleson County and continues to own rural land in Waller County. Gary says he thinks “urban pioneers” are beginning to move west of Katy. Urban pioneers are defined as individuals, primarily from Houston, who are establishing acreage tracts and building custom homes on their properties. Urban pioneers typically predate the subdivisions and developments and this appears to be the case in and around Brookshire.

Gary Maler (right)

Tom Conlan, Tom Conlan Real Estate, is a real estate broker who has handled many residential and commercial land transactions in the area and might be considered one of these urban pioneers. He moved to the Monaville area of Waller County when Katy became too densely populated. Tom’s impression is that Brookshire is a “real sleeper”. While the school district has been detrimental to large scale residential planning and development in the past, Tom feels that “we’re going to wake up one morning and all of that’s going to have changed”. He believes that all it will take is one major developer to come in and build 250 to 300 homes and, overnight, the school situation, will change.

20 REDNews.com

Tom is originally from northeast Texas, in the Red River Country, and has lived and worked in the Katy, Brookshire, and Pattison areas since graduating from Texas Tech in 1966. Tom had his real estate office in Katy for 35 years, and one day he decided to retire and moved his office to a cabin beside his home in the Monaville area. His wife, Karen, keeps pointing out to him that since his retirement he’s getting more phone calls and has more going on than he did when he had an office in Katy. “One good thing about having an office way out here in the country is that when somebody drives all this way for me to show them a property, they’re serious about buying!” Tom doesn’t worry about urban encroachment, because he enjoys growth.

He says that, “if it gets too crowded where I am, I’ll let them have it and move further west.” He does admit that he might have a bit of difficulty prying Karen out of her home, however, and they have great neighbors, other urban pioneers with two young children who work in Houston, so that would make it difficult to leave as well.

Tom has focused on the three county (Waller, Harris, Fort Bend) area because the city of Katy is located in parts of those three counties, so this part of Texas seemed to be a ‘natural fit’ for Tom. He’s never done a lot of business in Houston because he hasn’t ever liked the traffic, and besides, “there are plenty of real estate agents in Houston”. With the expansion of SH99, he has seen a real boom in North Katy. In previous years, there was much more interest in building and developing south of Interstate 10, but there have been five or six big tracts in the last six or seven months that have sold north of Katy. The Freeman property (between Katy/Hockley cutoff and Katy Hockley, north of 529) recently closed selling roughly 1,500 acres for about $31 million. Additionally, on the west side of Katy/Hockley, the 640-acre Beckendorf property may have recently sold. Most of these properties are going to companies who plan to build homes, and this is good, as there is pent-up demand for houses at the current time.

Tom is aware of big tracts that have sold west on FM529, primarily for industrial use, and likely because taxes in Waller County are lower than in Harris county. Another factor contributing to industrial and commercial development in that area is that Waller County right now has a strong abatement program to attract businesses. When it comes to attracting industry to their area Waller County’s tax insurance costs are lower in comparison to

Karen and Tom Conlan

the insurance rates in Harris & Fort Bend Counties. In Waller County, storm insurance coverage is based upon central inland territory rates as opposed to the seacoast territory rates that are in effect in Harris and Fort Bend Counties and these are also lower in Waller County. These insurance rates also impact individuals and companies owning cars based in Waller County as the ‘country rates’ are much lower than the rates for cars that ‘live’ in Houston.

“The area west of Katy on 529 is likely to become more commercial and industrial as opposed to residential. “ In addition to land that is being developed for industrial manufacturing concerns related to the oil field boom currently underway, Tom sold property that has been and is being developed into business parks, including the property developed as the Quixote Business Park at FM 529 & FM 362 in Brookshire. Presently, Tom sees that the area west of Katy on 529 is likely to become more commercial and industrial as opposed to residential. Medline Industries bought 55 acres in the West Ten Business Park and built a 500,000 SF distribution facility. Igloo recently completed an expansion from 1.2 million sf to 1.8 million sf in their two Katy locations. Goya Foods purchased 130 acres for a cannery adjacent to Igloo Foods and may move their existing Houston facility to this location. They wanted to be outside Houston in order to dig their

own wells & received substantial tax abatements from Waller County for their efforts. Weatherford International bought 195 acres and built a large oil field related plant on the north side of Highway 90.

The airport north of Highway 90 on Airport Road is expanding. Land in that area is now selling for $10-12K an acre, which represents all time highs for that area.

er of Hilcorp Energy in Houston, has a polo field located on the west side of Brookshire where all of the college polo teams have their playoffs, including the Texas A&M Polo team. Some of Pattison-Brookshire’s other new polo enterprises are located on Clemons Switch Road, with others located around the Fulshear-Simonton area, totaling about 8 polo facilities in the area.

West of Pattison, moving toward the river, and still located within Waller County, true bottomland appears. As the terrain moves toward the river, more heavy clay and true alluvial soil that has been deposited over thousands of years is found. This continues to be excellent land for development, although drainage has to be addressed.

In the area north of Katy and Houston, out to the Woodlands area, companies that land banked property decades ago are now cashing in on the investments by creating subdivisions in master planned communities. Cane Island, the first MPC for Katy, is a 1000 acre planned development between SH90 & Morton Road that just broke ground last month and is targeted for a 2015 grand opening.

The Fulshear area, west of Houston and south of the Katy/Brookshire area in Fort Bend County, has so much development going on that all of the familiar landmarks appear to have vanished, noted Tom. The city of Fulshear, he notes, was smart in that they annexed significant portions of land so that they are able to maintain control over the planning and development of their area. The Lamar Consolidated School district serves most of Fulshear and surrounding area, with students attending Foster High School on FM 723 south of FM 359 Intersection.

Gary notes that the land around Pattison and San Felipe (in Waller County) is comparable to the land in Fort Bend County and will likely be similarly developed by installing levy systems such as those that have been used in the Sugar Land area. Waller County, particular the part of it that has sandy loam soil, has become an equestrian magnet for polo fields from Hempstead south to slightly past Monaville. Waller County land below that area contains slightly too much clay to be good for horses and polo fields. Part of the appeal of Waller County to the equestrian community, in addition to the soil, is that buyers find both open paddocks and hard woods in that part of Waller County.

Hardwood trees, in particular, are more difficult to encounter as developers move east back toward Katy, where the land is not wooded other than with the fast-growing pine trees that have been planted. Tom noted that Jeff Hildebrand, found-

There can be no doubt that, to the west of Katy, change is happening. The Pattison area, just like Fulshear and Brookshire, no longer looks as it did forty, or even ten years ago. At the present time, and for the next eighteen months Gary’s nephew, who owns a heavy equipment company, is committed to working on the old Buller Ranch on FM 1458 in Pattison. It is undergoing a complete facelift and repurposing that will improve drainage, and build fences, pastures, roads and lakes and also be utilized for polo purposes. In Simonton, the 50-year-old Valley Lodge subdivision is undergoing a process that Gary describes as ‘almost urban infill’. The subdivision, which has addressed historical drainage problems, is seeing old ranchstyle houses on acreage lots being purchased, taken down to the ground, and replaced with ‘big new mansions’.

Gary, like many others who REDNews spoke to about the area ‘west of Katy’ noted that, while Katy has a stellar school system, and Sealy has a good school system, and the school district that serves the Fulshear area has always been highly regarded, Royal ISD serving Brookshire and Pattison continues to struggle with its reputation. This doubtless continues to influence land choice by developers who plan on building subdivisions. Currently, the market for recreational property as well as urban pioneers homesteads has picked back up again.

The average tract size is down slightly, and both large and small properties are selling. Prices in

some areas are up ten percent or more, per Charlie Gilliland, land market expert at the Real Estate Center. This appears to be largely driven by the booming Houston economy. Many of the people buying these days appear to be geologists, attorneys, etc. or other professionals employed in the oil industry. The Port of Houston as well as the Texas Medical Center is also having an impact on the growth of the area.

One of the biggest problems Houston faces today is finding qualified people to fill the jobs that the petrochemical complex, the medical complex, and the port and trade complex have available.

Two years ago, just those three industries were advertising between 3,000 and 4,000 jobs that were immediately open. In addition to having the skills and education needed for the employment opportunities, employers are reporting that people they would like to hire either can’t pass a drug test, or have something in their personal history when the company does the mandatory background check precludes them being hired. Despite the fact that within the oil business, the rate of growth has slowed somewhat over the past year, the field is still growing and the demand for jobs and related housing, schools, retail, and commercial businesses continues. In the Houston area, houses are going up as fast as builders can find the skilled labor that is needed to build them. The building industry lost ground during the recent downturn when companies cut from 50 to 70 percent of their staff. Many of those former workers are now employed in the oil field. By way of example, truck drivers for the oil companies making from $80,000 to $100,000 annually aren’t coming back to work in the construction industry.

To summarize, Gary doesn’t believe that we’re going to see the rapid development of Waller and Austin Counties just yet. In addition to the constraints upon the construction industry finding needed skilled labor, the area is still a little too distant from the sites of Houston’s metropolitan area’s available jobs. Individuals working in Katy would have no trouble living in the BrookshirePattison-Sealy area and commuting to work, but north Houston out toward the Woodlands and downtown Houston would probably present too much of a commute.

Today development in the greater Houston metropolitan area represents somewhat of a bifurcated continued on page 24

REDNews.com 21

continued from page 21

market. There are buyers like Gary and Tom who want to live in the country; however, there are many who want to be in the heart of the city. Urban dwellers like to walk to everything they can, and they want high density housing rather than acre and half-acre lots surrounded by nature that suburbanites value. Many of the urban pioneers moving ‘west of Katy’ at the present time are families building either second homes, or those who aren’t concerned about schools and commute times. This will likely not change until more industry and commercial business interests and related industries that provide employment opportunities are located in the area, making living and working in Waller and Austin Counties a viable option for young families. Driving out Westheimer to Fulshear there is only one tract of land not yet developed. Gary expects that it will be another eight to ten years before the area along Interstate 10 west of Katy out to Sealy begins to take on that appearance. “It’s not here yet, but it’s coming,” he says.

“Necessity is the Mother of Invention” The Brookwood Community 1752 FM 1489, Brookshire, Texas

The Brookwood Community is located on acreage formerly utilized as ranch land in Brookshire, Texas. It is a facility and vocational program for adults with disabilities.

Brookwood was the inspiration of Yvonne Tuttle Streit, who initially began home schooling her child, Vicki, who became severely brain damaged after complications from the mumps. They met a boy from Edna who had terrible seizures and a little girl from Alvin with similar functional disabilities. Together, they formed a learning group, around a picnic table, in Mrs. Streit’s backyard.

Soon, other children with special needs from the area joined this group. They outgrew the back-

yard and found it necessary to move to a Baptist church, where the school quickly grew to several rooms within that facility.

Realizing a need to provide lifelong special education, Mrs. Streit studied residential facilities in the United States and Europe and felt drawn to organizations that focused on what each resident could contribute to the world around him or her. Knowing that there is a real difference between sitting around the house in a wheelchair all day doing nothing and sitting in a wheelchair and making something of value for someone else to enjoy, the family founded Brookwood Community in 1985 with the help of a large grant.

Initially, the Brookwood administration building was housed in the former ranch house located on the property. That house no longer exists, having evolved into an entire campus of residences, and workshops that surround a chapel.

Brookwood now consists of eight group homes, two single-family staff homes, a residential inn, health and dental clinic, worship center, enterprise building, activities and administration building, 47 greenhouses, Gift and Garden Center and the Café at Brookwood, and several other support buildings. More than one hundred citizens live in homes on the 475-acre campus.

24 REDNews.com

The Brookwood Community is a 50l(c)3 not-for-profit organization which is funded through tuition, private sector donations, and sales from their entrepreneurial enterprises. Since Brookwood accepts no government funding of any kind, the community relies on the generosity of the private sector to help build and maintain their facilities and enterprises. Please give generously to Brookwood Community, 1752 FM 1489, Brookshire, Texas 77423. www.brookwoodwoodcommunity.org.

GREAT OFFICE SPACE FOR LEASE! 8300 Bissonnet - Top Floor & Building Identity Available

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2550 Gray Falls - Single Offices to 11,500 SF Available • 2 Miles West of Beltway 8 on Westheimer • Covered/Surface Parking • Card-Key Access • Professional on-site management • Local Stable Ownership • Single Offices–11,500 SF Available

Bill McGrath, CCIM

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Ric Holland

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REDNews.com 25

www.LandParkCommercial.com | 713-789-2200

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32,000 ATTENDEES 1,000 EXHIBITORS 3 DAYS OF DEAL MAKING

FOR MORE INFORMATION VISIT WWW.ICSCRECON.ORG #RECon14

Showcase Your Texas Retail Properties in the May Issue of at the ICSC/RECON Convention May 18th-20th

REDNews’ May issue will be distributed at the The Global Retail Real Estate Convention.

Editorial coverage in this issue will be Retail, Vacant Land & Texas Development Opportunities

For more information or to reserve your space, call 713.661.6300 or email Ginger@rednews.com

by April 10th

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HOUSTON

COMMERCIAL BUZZ

RAY HANKAMER Hankamer & Assoc, Broker, Houston Contributing Writer

Jay Sears, CEO of NewQuest Speaks at March 13, 2014 CCIM Luncheon Jay Sears, co-founder, partner, and CEO of privately held NewQuest Properties spoke to the Houston CCIM Chapter about retail in Texas and his company’s role in it. Founded in 2001, NewQuest has grown to a $1.2 billion portfolio and 448 acres of commercial land under ownership/management.

They are an integrated company, with attorneys, architects, asset managers, construction managers, development directors, and leasing agents all on their staff, which has grown from 15 to 105 in about thirteen years.

“We are primarily grocery developers,” said Jay. “We use our own capital, and have only recently turned to third parties for capital to acquire a multi-property portfolio.”

Since founding, NewQuest has joined up with Crosswell, who are national developers based in Houston. NewQuest makes its internal platform for development and management available to Crosswell so Crosswell can focus on what they love to do: make deals.

NewQuest signed 245 leases last year, a record, and has 150 in the legal pipeline at present, the highest backlog ever. As for development, the company is expanding to Dallas/ Fort Worth, to Corpus, and to other areas in between. The company developed 550,000 SF last year.

Sears provided many tidbits and factoids about retail and other activity in our area: • Katy is the fastest growing community in the U.S. • The growth surrounding the ExxonMobil campus is on fire, as other companies move their operations to be nearby-no one really 30 REDNews.com

knows the full scope of the economic activity created by this new campus • The newly opened segments of the Grand Parkway are already very busy, even with substantial tolls-the Parkway opens up Houston’s most highly educated employee base to a short drive time to employers on the SW, W, NW, and N sides of our metro area • Jobs Jobs Jobs equal retail growth, and Houston is seeing a lot of out-of-state niche brands coming in for the first time to cash in on our expansion • Retail on internet has increased over ten years from 2% to 6%, but now the playing field is leveling as states require online retailers to pay sales tax-many items can never be successfully sold online-smart bricks and mortar retailers are learning how to use online to beef up their in-store sales Sears discussed the booming growth of grocers, and spoke about the Safeway / Albertson’s combination…he would not be surprised to see Safeway leave Houston.

“Kroger has 2600 stores nationwide and continues to reinvent itself,” said Sears. “And Whole Foods has plans to go from 250 to 1,000 stores nationwide.”

“JC Penney is coming back, with its stock rising last year from $6 to $9. Radio Shack may shrink but also may reinvent itself. Sears stores may be bought up in certain locations for the real estate,” according to Jay. • There are massive amounts of investment coming to Houston, as it becomes known

Jay Sears and CCIM President, Sandy Benak

as a ‘Global City’ and outside developers want to get a piece of the action • River Oaks District, the new multi-use development on Westheimer between Highland Village and the Galleria is getting ultra-high retail stores to leave the Galleria, where the lion’s share of shopper traffic does not meet their demographic / income requirements • Midway Companies, which has been so successful at City Centre, is redoing the Pavilions downtown • NewQuest is watching closely Asian-American shopping trends and the habits of 2nd and 3rd generation shoppers-NewQuest is working to expand the 99 Ranch Market into other metro areas with high Asian populations, since it is so successful on I-10 and Blalock • Trader Joes has the highest volume per SF of any grocery chain in the US…it, along with Aldi and some other specialty stores, is expanding here, while Fresh Market is reevaluating and closing some stores.

RETAIL CENTER I-45 North at West Road

BEECHNUT TIENDAS SEC of Beechnut and Beltway 8

1,333 SF Available For Lease EASY ACCESS & EXCELLENT VISIBILITY FROM I-45

PRE-LEASING NEW CONSTRUCTION 19,000 SF Shopping Center

REDEVELOPMENT - OLD HEB PANTY Aldine Mail Route at Aldine Westfield

Up to 4,200 SF Available PAD SITES AVAILABLE Property Highlights • Large Hispanic Population

Property Highlights • New Construction • Large Hispanic Population • End Caps Available

Property Highlights • Bay Depth 66’ • Next to Best Buy, Starbucks, Verizon and Taqueria Arandas

Demographics • Traffic: Aldine Mail Rt. 22,966 CPD Aldine Westfield 14,755 CPD

Demographics • Traffic: Beechnut 49,360 CPD

Demographics • Traffic Count: I-45 276,010 CPD

DANNY KUPERMAN 2155 North Durham Drive, Houston, Texas 77007

713.439.0101 - 832.398.0099 - dkupe2000@yahoo.com

$34.00 Annual Base

Cy - Fair Plaza Now Leasing Beautiful New Center with tremendous traffic counts. Situated just blocks from Interstate 10 in The Heights Area of Houston.

Demographics Population 1-mi. 17,303 3-mi. 129,961 5-mi. 397,006

New Retail Center

2155 North Durham Drive Houston, Texas 77007

Household Income 1-mi. $114,525 3-mi. $103,557 5-mi. $95,951

Cy-Fair Plaza

13200 Jones Road Houston, TX 77070

Tully Shopping Center 12121 Katy Freeway Houston, Texas 77079

13200 Jones Road Houston, TX 77070

Long Point Square Shopping Center

8118 - 8130 Long Point PROPERTY OVERVIEW Houston, Texas 77080

Available

+/- 49,388 Gross Leasable SF +/- 12,505 Available SF

Now!

ANCHORS - Tonino’s Ristorante - Del Pueblo Restaurant - Vintage Pub

1,300 SF Available Victor Garbarino Now Pre-Leasing Silvestri Investments Leasing

1215 Gessner Drive

- Beautiful New Houston,Center Tx 77055 with tremendous Cell 832.303.9304 traffic counts.

Office 713.785.6272 Fax 713.785.1301

- Situated just blocks from Interstate 10 Victor@silvestriusa.com www.Silvestriusa.com in The Heights Area of Houston.

- $34.00 Annual Base.

Demographics - Population: 1-mi. 17,303, 3-mi.

129,961, 5-mi. 397,006 - Household Income: 1-mi. $114,525, 3-mi. $103,557, 5-mi. $95,951

+/- 49,388 Gross Leasable SF

+/- 85,300 Gross Leasable SF

8,100 SF Available

(2) Divisible 6,100 SF Spaces Available

895-2,300 SF - Great shopping center ideally located Silvestri Investments at the corner of Jones Rd. & Grant.

713.785.6272 1215 Gessner Rd. Anchors Houston, TX 77055 - High Traffic Volume

- Tonino’s Ristorante - Del Pueblo Restaurant www.silvestriusa.com - Vintage Pub

- Center

is conveniently located on I-10 between Dairy Ashford and Kirkwood close to Belyway 8 -S paces available for immediate move in at outstanding rates.

Jone Anchors s Rd. - Golf Warehouse - Metropolitan Furniture - Teacher Heaven - Tile & All

+/- 77,005 Gross Leasable SF +/-11,000 Available SF 1,000-9,600 SF Divisible -C enter is conveniently located on Long Point Rd. in the Spring Branch District.

-S paces available for immediate move in at outstanding rates.

-M ajor shopping area and Post Office close by.

Anchors - O’Reily Auto Parts - Family Dollar - Rent-A-Center - Jackson Hewitt

PROPERTY HIGHLIGHTS

Office: 713.785.6272 silvestriusa.com 3 - Mile Population . . . . . . . . . . . . 35,863 3 - Mile Median Income . . . . . . . . $64,982 REDNews.com 31 Total Housing Units . . . . . . . . . . . . 13,255

EPA Adopts New ASTM Standard Environmental Risk Alert: Environmental Risk Alert: As of December 30,Environmental 2013, the Environmental Protection Risk Alert:

EPA Adopts New ASTM Standard

EPA Adopts New ASTM Standard Agency (EPA) approved the new Phase I Environmental Site EPA Adopts New ASTM Standard Assessment (ESA) ASTM E 1527-13 standard for All December 30, 2013 , the Environmental Protection AsAs of of December 30, 2013 , 2013 the AsInquiries of December 30, ,Environmental the Environmental Protection Appropriate (AAI) Landowner Liability Protection Protections.

Agency (EPA) approved new Phase IIEnvironmental Site Agency (EPA) approved thethe new Phase I Environmental Site Agency (EPA) approved the new Phase Environmental Site Assessment (ESA) ASTM E 1527-13 standard for All Assessment (ESA) ASTM E 1527-13 standard All Assessment (ESA) ASTM E 1527-13 standard All Phase Engineering’s Phase I reports comply with for thefor EPA’s Appropriate Inquiries (AAI) Landowner Liability Protections.

Appropriate Inquiries Landowner Liability Protections.

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EVENTS • NETWORKING • DEALS • ANNOUNCEMENTS

What’s Happening in CRE Texas The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to REDNews.com. We update CRE news and events every day!

REDNews.com 33

EVENTS CALENDAR

SOUTHEAST TEXAS April 2 – Wednesday CREW Houston Monthly Luncheon – Impact of Super Bowl 2017 on Houston 11:30am – 1:00pm www.crewhouston.org

(HOUSTON AREA)

For more nformation or to register for events, log on to organization website.

April 15 – Tuesday FBSCR Fort Bend County Economic Development Forum 8:00am – 9:00am www.fbscr.com

April 23 – Wednesday ACRP Houston Breakfast Meeting 7:00am – 8:30am www.acrp.org

April 2 – Wednesday IREM Houston Networking Luncheon – Pius Leung, CPM, CCIM 11:30am – 1:00pm www.iremhouston.org

April 16 – Wednesday CREW Houston Greenstreet – The Revitalization of The Houston Pavilions – Member Only 5:30pm – 7:00pm www.crewhouston.org

April 23 – Wednesday O’Connor & Associates Economic Forecast Lunch 11:30am – 1:00pm www.poconnor.com

April 3 – Thursday Greater Houston Partnership State of the City – Mayor Annise Parker 10:30am – 1:30pm www.houston.org

April 17 – Thursday HRBC Monthly® Breakfast 7:00am – 8:30am www.houstonrealty.org

April 4 – Friday CREN Houston Monthly Luncheon 11:30am – 1:00pm www.crengulfcoast.com

April 17 – Thursday BACREN Monthly Luncheon – Janet Schafer 10:30am – 1:00pm www.bacren.com

Your real estate deserves real ma April 23 – Wednesday IREM Houston Member Mixer 4:30pm – 7:00pm www.iremhouston.org

Count on a CPM professional to deliver real re

CPM

April 7 – Monday CREW Houston 14th Annual Golf Classic 8:00am – 6:00pm www.crewhouston.org

®

April 10 – Thursday CCIM Houston Monthly Luncheon 11:30am – 1:00pm www.ccimhouston.org

For optimal returns on your re turn to a CERTIFIED PROPERTY

April 17 – Thursday IREM Houston Young Professionals Happy Hour 5:00pm – 7:00pm www.iremhouston.org

April 22 – Tuesday CORENET Houston Breakfast Meeting – Anthony Pizzitola, CFM, Jones Lang LaSalle 7:30am – 9:30am www.houston.corenetglobal.org

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

April 14 – Monday C.R.E.A.M.TX Monthly Luncheon – Commissioner James Noack, Montgomery County, Precinct 3 11:00am – 1:00pm www.creamtx.com

Networking

April 22 – Tuesday CCIM Houston Crawfish Boil 5:00pm – 8:00pm www.ccimhouston.org

April 30 – Wednesday Greater Houston Partnership The Thought Leader Series Lunch – David Crane, President and CEO of NRG Energy, Inc. 11:30am – 1:30pm www.houston.org

A CPM® has: z Demonstrated experience i z Pledged commitment to th standards z Proven expertise in maximi

IREM AUSTIN PRESENTS

Educat ion

April 24 – Thursday CREN Houston Sporting Clays Tournament 8:00am – 5:00pm www.crengulfcoast.com

Technology

Scholarships 3 4CCIM R E DCourse News.c om

ETH800-Ethics for the Real Estate Manager

CI 101, CI 102, CI 103, CI 104

For more nformation or to register for events, log on to organization website.

April 2 – Wednesday CREW Ft. Worth Powerful Purses Panel Luncheon – Moderator Deborah Ferguson, NBC 5 TODAY Co-Anchor 11:30am – 1:00pm www.crewfw.org April 2 – Wednesday BOMA Ft. Worth Real Estate Investment and Finance Course 5:30pm – 8:30pm www.bomafortworth.org April 3 – Thursday ULI North Texas Breakfast Forum on EB-5 Financing 7:30am – 9:30am www.northtexas.uli.org April 4 – Friday BOMA Dallas Spring 2014 Adopt-A-Block 8:00am – 5:00pm www.bomadallas.org April 10 – Thursday BOMA Dallas Young Professionals Pub Crawl 5:00pm – 8:30pm www.bomadallas.org

NORTH TEXAS

EVENTS CALENDAR (DALLAS/FT. WORTH AREAS)

April 11 – Friday NAIOP North Texas Monthly Breakfast – Texas Shoot-Out Winning Team 11:30am – 1:00pm www.northtexasnaiop.com April 12 – Saturday NTCAR Young Professionals Forum Philanthropy 1:00pm – 3:30pm www.ntcar.org

April 25 – Friday ULI North Texas Water and the Economy of North Texas – US Green Building Council and ULI 2:00pm – 5:00pm www.northtexas.uli.org

April 14 – Monday CREW Dallas 28th Annual CREW Dallas Golf Classic 10:00am – 7:00pm www.crew-dallas.org April 15 – Tuesday BOMA Dallas Monthly Luncheon – David Whitley and Tierney Kaufman – “Trinity River Project & City Design Studio” 11:30am – 1:00pm www.bomadallas.org April 23 – Wednesday Society of Commercial REALTORS Business Owners Speaker Series – Dr. Ray Perryman 7:30am – 9:30am www.scr-fw.org

CENTRAL/SOUTH TEXAS

April 24 – Thursday NTCAR 2nd Quarter Event – The Evolution of Mixed-use Development Featuring Preston Hollow Village 5:30pm – 7:30pm www.ntcar.org

April 29 – Tuesday NTCAR 2014 Hall of Fame Induction & Reunion 5:30pm – 8:00pm www.ntcar.org April 30 – Wednesday CREW Dallas Monthly Luncheon – Katrina Keyes, TxDot: Horseshoe Project in Downtown Dallas 11:30am – 1:00pm www.crew-dallas.org

(AUSTIN/SAN ANTONIO AREAS)

COMMERCIAL

April 8 – Tuesday Real Estate Council of Austin Panel Discussion Luncheon on High-Capacity Transit 11:15am – 1:00pm www.recaonline.com

April 17 – Thursday ULI Austin 5th Annual ULI Austin Marketplace 5:00pm – 7:30pm www.austin.uli.org

April 23 – Wednesday Real Estate Council of Austin Annual Membership Appreciation & Recruitment Party 5:30pm – 7:00pm www.recaonline.com

April 10 – Thursday CTCAR Property Information Exchange 7:30am – 9:00am www.ctcaronline.com

April 22 - Tuesday IREM San Antonio Insurance Seminar 9:00am – 11:00am www.iremsanantonio.org

April 24 – Thursday IREM Austin Young Professionals Icebreaker 5:30pm – 7:30pm www.iremaustin.org

April 16 – Wednesday CREW Austin Luncheon – Matt Whelan, Development of Highland Mall 11:30am – 1:00pm www.crewaustin.com

April 23 – Wednesday IREM Austin Monthly Luncheon – Clark Heidrick, insight on the Dell Medical School at UT Austin 11:30am – 1:00pm www.iremaustin.org

April 30 – Wednesday IREM San Antonio Monthly Luncheon – Henry Cisneros 11:30a - 1:00p www.iremsanantonio.org

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REDNews.com 35

TEXAS CRE NETWORKING

SOUTHEAST TEXAS

(HOUSTON AREA)

Check out our pictures and be sure to send your own pictures to info@rednews.com to be included in our next issue! To view more photos go to: http://www.rednews.com/networking-event-photos CCIM March Luncheon

Nathan Riley, Rachel L. Murray, Virginia A. Garza and Christa A. Dunovsky

Dick Klein, CCIM and Diane Garrett, CCIM, CPM

ACRP Networking Event

Michael Lane, Michelle Gupton-Froelich and Brent Adams

Patrick Coyne, Jim Wilkie and Butch West, CCIM

C.R.E.A.M.TX March Luncheon

Warren Hitchcock, Perry Seeberger, Merideth Langley and Bob Mitchmore

Blake Warren and Zac Warren

Lindsay Bangle and Jeff Warwick, CPM

Robert C. Watson, CCIM and Lee Girard, CCIM

IREM March Luncheon with speaker Dennis Storemski

Jeff Burck, CPM, Ronda Dade, IREM President Janie Snider, CPM and Speaker Dennis Storemski 36 REDNews.com

NORTH TEXAS

TEXAS CRE NETWORKING (DALLAS/FT. WORTH AREAS)

SCR February Happy Hour

Justin Huston, Greg Monroe & Casey Tounget

Mark Thielke, Norma Crow, Ginger Johnson & Glenn Garoon

John Wood, Norma Crow, Huck Newberry & Cee Yager

CREW Dallas February Luncheon with Speaker Harriet Miers: Life, Liberty and The Pursuit of Leadership

Janice Peters, Harriet Miers, speaker, Michelle Hudson, CREW President, Ann Murray

Vicky Gunning, Lane Wood, Harriet Miers, Virginia Peters, Masae Falcon

CENTRAL/SOUTH TEXAS CCIM Symposium in Austin Photos By: Kristine Traylor

(AUSTIN/SAN ANTONIO AREAS)

IREM San Antonio

Amy Ables , CCIM Chapter Administrator

Yolanda Flores is recognized as CPM of the Year by IREM San Antonio President James Stewert

Sean Bean, member of the IREM Young Professionals Committee

Lise Wineland and Chris Gamel

REDNews.com 37

ANNOUNCEMENTS & DEALS DONE

SOUTHEAST TEXAS

(HOUSTON AREA)

ANNOUNCEMENTS NAI Global announced its 2014 Members’ Leadership Board. Elke Laughlin, EVP & COO of NAI Houston is one of the four new members to join the board.

Elke Laughlin

INDUSTRIAL Houston (LEASE) – ECP Electrical Supply leased 14,200 SF at 3309 Texas Avenue. David Gerber of Gerber Realty represented the landlord, M.C. Investments.

Houston (LEASE) – Core Refractory Systems leased 13,000 SF at 4555 Homestead Road. Reed Vestal and Ross Thomas of the Finial Group represented the tenant, and Lee Paris represented the landlord, Warehouse Associates.

Houston (SALE) – Stockbridge Real Estate Funds purchased Interwood Business Center I and II, 200,086 SF Class A industrial warehouse facilities located at 14430-14440 John F. Kennedy Boulevard and 14469 Heathrow Forest Parkway. Rusty Tamlyn and Trent Agnew represented the seller, KTR Capital Partners.

Houston (SALE) – A buyer purchased Northeastern Plastics, Inc., a 40,648 SF property located at 14221 Eastex Fwy. Alex Bouchard and Gus Lagos represented the seller, a limited liability corporation.

Houston (SALE) – 905 Live Oak, LLC purchased 39,500 SF at 905 Live Oak and 910 Nagle Street. Charles M. Taylor represented the buyer, and B. Kelley Parker, III, SIOR; John F. Littman, SIOR, MAI; Tim M. Thomas and Coe Parker of Cushman and Wakefield represented the seller, Seewald Realty Company.

Houston (SALE) – H6 Texas, LP purchased a 21,400 SF building at 7409 Wright Road near Highway 290 and Beltway 8. Joe MacDougall of MacDougall and Company represented the buyer, and Doug Bates and Joel Hill of Henry S. Miller Brokerage represented the seller, Rich Damon Henry Trust.

LAND

Log on to REDNews.com for daily updates

The Woodlands (SALE) – Sebastian and Irma Rodriguez purchased 5 acres at 10317 Airline. Marite Echegaray represented the buyer, and David Alexander of Newcor Commercial Real Estate represented the seller, Mikeska Estate.

OFFICE The Woodlands (LEASE) – Conversio Health, LLC leased 10,000 SF at Research Forest Lakeside Building 4. Lindsey McKean of The J. Beard Real Estate Company represented the tenant, and James Warmack represented the landlord, The Research Forest Lakeside.

Houston (LEASE) – Ohmstede, Ltd. expanded to 8,845 SF at 2450 South Shore Harbour. Edward Edson of Colliers International represented the tenant, and Dena Wren of CBRE Houston represented the landlord, American National Insurance Company.

Houston (LEASE) – Sudhoff Properties of Houston, Inc. expanded to 8,343 SF at 3050 Post Oak Blvd. Walker Ryan and Charles Fertitta of Colliers International represented the tenant, and Cody Armbrister and Rima Soroka of CBRE Houston represented the landlord, Lopo, LLC. Houston (LEASE) – Altus Group Us, Inc. expanded to 3,558 SF at 3050 Post Oak Blvd. Chad Beck of Jones Lang LaSalle represented the tenant, and Cody Armbrister and Rima Soroka of CBRE Houston represented the landlord, Lopo, LLC. Houston (LEASE) – Pirkey Barber expanded to 2,821 SF in One American Center at 600 Congress.

Carl Condon and Mike Kennedy of Commercial Texas, LLC represented the tenant, and Parkway Properties represented the landlord.

RETAIL/RESTAURANT Houston (LEASE) – Dollar Tree leased 12,500 SF at 100 Gulf Freeway North at FM 518. Perry Zieben of Perry Zieben Realty Company represented the tenant, and Jazz Hamilton and Alex Makris of CBRE Houston represented the landlord, WFP Pecan Park, L.P. Houston (LEASE) – Smile Rangers leased 1,750 SF in Pine Mill Ranch at the SEC of FM 1463 and Pine Mill Ranch Drive. Alan Clark of Phelps Commercial represented the tenant, and Steven Stone of KM Realty Advisors represented the landlord.

Baytown (SALE) – David & Alejandra Rodriguez purchased a 14.0465 acre tract off Highway 146. Wade Sinclair of Claire Sinclair Properties, LLC facilitated the sale.

Houston (LEASE) – $5 Pizza leased 1,275 SF in The Centre at Timber Creek at 5700 Highway 6, Suite 170. Steven Stone of KM Realty Advisors represented the landlord.

Baytown (SALE) – AIN Enterprises, Inc. purchased 3.9372 acres at 8210 N. Main St. Claire Sinclar Gavrel of Claire Sinclair Properties, LLC facilitated the sale.

Humble (SALE) – An Oklahoma investor purchased a 4,307 SF ground lease property leased to Chase Bank. Jim Gibson and Todd Moore of Stan Johnson Company represented the seller, a developer in Houston.

Baytown (SALE) – JAP Properties, L.P. purchased a 2.37 acre tract at the Cedar Crossing Business Park. Jim Hargrove of Claire Sinclair Properties, LLC represented the buyer, and Kelley Parker, John Littman, Coe Parker and Tim Thomas of Cushman and Wakefield represented the seller, Cedar Crossing, L.P.

Jacinto City (SALE) – JBL Asset Management purchased The Market at Hunting Bayou, a 201,268 SF retail center located at the SEC of I-10 East and Holland Avenue. Todd Gordon of Gordon Realty represented the buyer, and Cushman and Wakefield Tom Salanty’s Team represented the seller, Inland Real Estate Group.

The Woodlands (SALE) – Flair Builders purchased 7.94 acres at Louetta Road, just west of State Highway 249. Rob Banzhaf and David Alexander of Newcor Commercial Real Estate represented the buyer, and Keith Edwards and Clay Roper of Caldwell Companies represented the seller, XJ Eight Development, LLC.

38 REDNews.com

(Tuscan Pic) Magnolia (SALE) – An all cash buyer purchased Tuscan Village Plaza, a 15,318 SF retail center located at 7214 FM 1488. Derek Hargrove and Nate Newman represented the seller, a group of prominent local developers.

NORTH TEXAS

ANNOUNCEMENTS & DEALS DONE (DALLAS/FT. WORTH AREAS)

INDUSTRIAL Dallas (LEASE) – Ozburn-Hessey Logistics expanded to 419,475 SF at 3700 Pinnacle Point Drive. Ann Huntington of CBRE Dallas represented the tenant, and Bates Arnot of Hillwood represented the landlord, Gateway/Pinnacle Park, LP. Carrollton (LEASE) – Done Deal IT Solutions leased 8,420 SF at 2120 Hutton Drive, Suite 500. Janice Peters, CCIM of Hudson Peters Commercial represented the tenant, and John Lancaster of NAI Robert Lynn represented the landlord, Pollock Realty, LP. Coppell (LEASE) – Intergrated Control Tech leased 11,083 SF at 440 Wrangler, Suite 100. Adam Curran of Mercer Company represented the tenant, and Matt Smith of ML Realty represented itself.

Log on to REDNews.com for daily updates

Dallas (LEASE) – LaRue, Moore & Schafer LLC leased 1,939 SF in Danari Office Park Building II at 6009 Belt Line Rd. Nike Lee of NAI Robert Lynn represented the tenant, and Sharon Friedberg and Melanie Hughes of Bradford Commercial Real Estate Services represented the landlord.

Dallas (LEASE) – A design firm leased 10,288 SF at 3900 Willow Street, Suite 150. Scott Ehley of McLaren Hill Commercial represented the tenant, and Cincha Kostman of Hudson Peters Commercial represented the landlord, SimbolWood Properties, Ltd. Trophy Club (LEASE) – Dustin McCammon, DDS dba Trophy Village Dental, PLLC leased 2,514 SF in The Village Center at Bobcat Boulevard and Parkview Drive. Debi Carter, CCIM represented the landlord.

Addison (SALE) – LPC Realty Advisors, an advisory affiliate of Lincoln Property Company, purchased Two Addison Circle, a 198,691 SF, Class AA property in Addison. HFF and CBRE jointly represented the seller, Brookfield Property Group.

Dallas (LEASE) – Flite Components leased 23,976 SF at 1235 Profit Drive. Jeremy Mercer of Mercer Company represented the tenant, and Oscar Couto represented the landlord, Prologis.

Dallas (LEASE) – Santide Investments leased 6,730 SF at 4577 Mint Way. Jeremy Mercer of Mercer Company represented the tenant, and MHM-Redbird represented itself.

Dallas (LEASE) – Crenshaw Consulting Group leased 13,563 SF at 1901 Royal Lane, Suite 110. Corby Hodgkiss of Mercer Company represented the tenant, and Mitch Pruitt of Prologis represented the landlord, Prologis 2.

Richardson (LEASE) – HBS Systems leased 25,000 SF in The Points at Waterview at 3400 Waterview Parkway. Daniel Rudd and Billy Vahrenkamp of Colliers International represented the tenant, and Bill Brokaw of Cushman and Wakefield represented the landlord, Cousins Properties.

Graham (SALE) – Valew Truck Bodies purchased 141,066 SF just west of Fort Worth.

Mary Graybill and Scott Giordano of Lee & Associates’ represented the buyer, and Todd Hawpe and Sarah Everett of Transwestern represented the seller, Meridian Bank of Texas.

LAND Dallas (SALE) – Red Dragon Properties Inc. purchased 6.85 acres of a 10-acre tract at 39490 LBJ Freeway. Karen Simon of Bradford Commercial Real Estate Services represented the buyer and the seller, Chacon Autos Ltd.

MULTI-FAMILY Mesquite (SALE) – Advenir purchased Mission Ranch Apt, a 295-unit Class complex at 901 US Highway 80 E. Will Balthrope and Drew Kile of Marcus & Millichap’s Fort Worth office represented the seller. The property will be renamed Advenir@Mission Ranch.

OFFICE Dallas (SALE) – Hickory Creek Retail LP purchased a 24,865 SF office building at 8100 John W. Carpenter Freeway. Mark Pierce and Reagan Vidal of Commercial Realty Partners LLC represented the buyer, and Monika Guzman-Perez of Coldwell Banker Commercial Alliance DFW represented the seller, John R. Salazar Properties.

Addison (LEASE) – Nerium International LLC leased an additional 5,508 SF (now 29,305 SF total) in Forum at Beltline at 4004 Belt Line Rd. Robbie Baty and Bill McClung of Cushman and Wakefield represented the tenant, and Sharon Friedberg and Melanie Hughes of Bradford Commercial Real Estate Services represented the landlord, ARI Forum LLC.

RETAIL/RESTAURANT Dallas (LEASE) – Better Vapors leased 1,500 SF in Northgate Hills at 3642 Belt Line Rd. Tony Palumbo of Ton Nu Group, LLC represented the tenant, and Joe Chung and Chris Flesner of Retail Solutions represented the landlord.

Dallas (LEASE) – JELL Salon leased 3,358 SF at 8201 Preston Road, Suite 110. Elizabeth Ocando and Cincha Kostman of Hudson Peters Commercial represented the tenant.

Dallas (LEASE) – A design firm leased 10,288 SF at 3900 Willow Street, Suite 150.

Scott Ehley represented the tenant, and Cincha Kostman of Hudson Peters Commercial represented the landlord, SimbolWood Properties, Ltd. Dallas (LEASE) – Grass4Sale.com, Inc. leased 3,200 SF at 4440 Brass Way. Jeremy Mercer of Mercer Company represented the landlord, Michael Edgmon.

Forney (LEASE) – Huddle House leased 3,335 SF in Mustang Crossing at the NWQ of Highway 80 and FM 548. Sam Littlejohn and Chris Flesner of Retail Solutions represented the landlord.

Weatherford (LEASE) – Golf Etc. leased 1,900 SF in Hudson Oaks at 200S. Oakridge Dr. Marshall Ballard of Marshall Ballard Brokerage represented the tenant, and Chris Flesner of Retail Solutions represented the landlord.

Dallas (SALE) – Livid Lobster purchased 8,400 SF at 13702 Gamma. Chris Fleeger of Morrow Hill represented the buyer, and Adam Curran of Mercer Company represented the seller, Santa Fe Auto.

Lubbock (SALE) – A 1031 exchange buyer purchased a 4,992 SF Sherwin-Williams at the SEC of 98th Street and Slide Road. Richard Vincent of Marcus & Millichap’s Ontario office represented the buyer, and Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a limited liability company.

Send us your Announcements & Deals for publishing info@rednews.com REDNews.com 39

ANNOUNCEMENTS & DEALS DONE

CENTRAL/SOUTH TEXAS

(AUSTIN/SAN ANTONIO AREAS)

ANNOUNCEMENTS Leigh Ellis joined the industrial division of AQUILA Commercial in Austin. Ellis’ concentration will include both asset services and tenant representation.

Don Quick Associates Inc. will expand its Round Rock office location, as the company intends to begin offering the first Class A office space in the area. Along with the 2,300 SF Leigh Ellis Robert Shore office expansion by architect George Lewis, the company hired five new staff members: Meredith Case, Anya DeNio, Michael Sanchez, Robert Shore (pictured) and Laurie Wier.

San Antonio (SALE) – May Dev, LP purchased 4.34 acres at 10811 IH-35 North. Charles L. Jeffers of DH Realty Partners represented the seller, Peacock Hospitality, Inc.

MULTI-FAMILY Austin (SALE) – Moody National REIT 1 Inc. purchased a Hampton Inn at 4141 Governors Row. Marcus and Millichap Real Estate Investment Services arranged the sale on behalf of a joint venture between a California family trust and a Texas-based private investor.

OFFICE Austin (LEASE) – Arrow Electronics Inc leased 7,687 SF at 9101 Burnet Road.

John Gump, Nate Stricklen and Erin Morales of CBRE Austin represented the tenant, and Luke Wood of Haverwood Management represented the landlord, Continental Tx Investments, Lp. Austin (LEASE) – MSB Consulting Group LLC expanded to 7,519 SF at 12885 Research Blvd. Direct Deal represented the tenant, and Jayme Knight of CBRE Austin represented the landlord, Arbor Square Venture, Lp.

INDUSTRIAL El Paso (LEASE) – Morrison Express Corp expanded to 60,000 SF at 8470 Gran Vista Drive. Chad McCleskey of CBRE El Paso represented the tenant, and the landlord, East Valley Commerce Park, Ltd., represented itself.

Log on to REDNews.com for daily updates

Austin (LEASE) – Newgistics Inc expanded to 5,437 SF at 2700 Via Fortuna.

Erin Morales, Nate Stricklen and John Gump of CBRE Austin, and Aquila represented the landlord, Behringer Harvard Terrace Lp. San Antonio (LEASE) – Schlumberger Technology Corporation expanded to 11,677 SF at 607 & 777 Sonterra Blvd.

Mike Sawtelle, CCIM and Sherri Fesperman of CBRE San Antonio represented the tenant, and Taylor Dorris of CBRE San Antonio represented the landlord, Concord Terrace, LLC.

San Antonio (LEASE) – Insulation Distributors Inc leased 14,700 SF at 8569 NE Loop 410 Building 4. Josh Aguilar and Rob Burlingame, CCIM of CBRE San Antonio represented the tenant, and Endura Advisory Group represented the landlord, Atlas San Antonio 1, Lp. San Antonio (LEASE) – Morrison Supply Co., LLC leased 9,164 SF at 1666 S. San Marcos. Ed Bruce of DH Realty Partners, Inc. represented the landlord, Union Stock Yards, San Antonio.

RETAIL/RESTAURANT

Austin (SALE) – A local investor purchased an 18,456 SF facility at 2301 Anderson Lane West. Jason Steinberg of Equitable Real Estate (ECR) represented the buyer, and Patrick Ley and Boyd Harris of ECR represented the seller.

Austin (LEASE) – Mage’s Sanctum leased 3,850 SF in Tanglewood Village at 2110 W. Slaughter Ln. Justin Bayne of Skyles Bayne represented the tenant, and Carter Bailey of Retail Solutions represented the landlord.

El Paso (SALE) – Garinco, LLC purchased a 10,000 SF property at 6914 Gateway East Blvd. Steve Juen Commercial Real Estate, Inc. represented the tenant, and Chad McCleskey of CBRE El Paso represented the seller, Javelina El Paso, LLC.

Austin (LEASE) – A CrossFit gym leased 1,800 SF in Oak Hill Centre at 6705 Highway 290. Jim Rourke of Aquila represented the tenant, and Carter Bailey of Retail Solutions represented the landlord.

Mabank (SALE) – Corisicana Storage Group, LLC, The Woodlands purchased a 262 unit facility. Bill Bellomy, Michael Johnson and John Owens of Bellomy & Co. represented both the buyer and the seller, Blue Moon LLC. San Antonio (SALE) – INET Security & Surveillance, Inc. purchased 8,712 SF at 9706 IH-35 North. Bill Holder of DH Realty Partners, Inc. represented seller, Joe Harrison.

Temple (SALE) – A Temple, Texas-based buyer purchased a 27,600 NRSF storage facility. Bill Bellomy, Michael Johnson and John Owens represented the seller, also based in Temple.

LAND San Antonio (SALE) – HT Stone Oak Land, LP purchased 60 acres off Highway 281 at Marshall Road to be used to develop a residential development. Deborah Bauer of Drake Commercial Group represented the seller.

40 REDNews.com

Austin (LEASE) – Deluxe Cleaners leased 1,305 SF in Plaza at Riata at 12221 Riata Trace Pkwy. David Schoenemann, CCIM of Retail Solutions represented the landlord.

Austin (LEASE) – Star of TX Financial leased 1,000 SF in Manor Business Park at 3114 Manor Rd. Tucker Francis and Jerel Choate of Retail Solutions represented the landlord.

Floresville (LEASE) – CATO leased 4,000 SF in 10th Street Village at 534 10th St. Ryan Hoff of Retail Solutions represented the landlord.

San Antonio (LEASE) – Domino’s Pizza leased 1,750 SF in Kenedy Junction at 205 Business Park Dr. Ryan Hoff of Retail Solutions represented the landlord.

San Antonio (LEASE) – Cash Plus leased 1,500 SF at 5726 Babcock. Charlie Roof of Retail Solutions represented the tenant.

San Marcos (LEASE) – Texas Car Title and Payday Loan leased 3,500 SF in San Marcos Place at 900 Bugg Ln. Spencer Peterson of PCR Partners represented the tenant, and T.J. Powell and Fred Wendland of Retail Solutions represented the landlord.

CLASSIFIEDS

INDEX

Contact Ginger@rednews.com | 713-661-6300

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INDEX

A. A. Realty Company....................................... 3

Hankamer & Associates ................................ 15

ACRP ............................................................34

Homeland Properties, Inc. .............................. 17

American Realty Group ..................................31

International Church Realty ............................13

BACREN . . ......................................................34

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

Caldwell Companies .. ..................................... 11

KMorgan Real Estate Services .......................17

CCIM Central Texas .......................................35 CCIM Houston ................................................34 CCIM North Texas . . .........................................35 Century 21 Southwest Commercial ................... 7 City of Converse ............................................15 City of La Porte EDC . . .......................... 1, 22- 23 Copperas Cove EDC ......................................15 C.R.E.A.M. .. ..................................................34

LandPark Commercial ...................................25 Levcor, Inc. ....................................................13 McAlister Real Estate . . .....................................2 Move Resources ........................................... 41 Nationwide Commercial Funding ......................4 Phase Engineering, Inc. .................................32 Pipeline Realty Company Inc . . ........................13

CREN..............................................................34

REOC..............................................................15

CREW Dallas ................................................35

Silvestri Investments .......................................31

CREW San Antonio ........................................35

TAO Interests, Inc. .........................................41

CTCAR ..........................................................35

Tarantino Properties, Inc. .............................. 8-9

Greenberg & Co. . . ..........................................17

The J. Beard Real Estate Company, L.P. .. .........5 REDNews.com 41

LAST

PAGE

Better Late Than Never - Join The Trend

by Jason Marshall REDNews In last month’s article, Stay On Top With Digital Marketing, I highlighted ways you can improve your social media standing and growth as we move further into 2014. That article was the how; this is the why.

Commercial Real Estate is one of the most profitable industries and undoubtedly one of the most dominant in the great state of Texas. Everywhere you turn, there are new developments going up– mixed-use projects, Class A office towers, mega retail centers - the CRE industry will continue to boom. As a “millennial” who is employed by a company who works with commercial real estate firms, I was shocked when I came to this realization: the commercial real estate industry lags far behind most other major industries when it comes to the usage of technology, third-party advertising and social media.

Think about the technological advances we see in other major fields, such as education. Many classrooms offer iPads and other tablets for students to use as textbooks and for homework assignments, making paper textbooks a thing of the past. With the ability to reach thousands with an email campaign, tweet about a real estate trend article or posting of a press release on the company’s page, the time is now to take advantage of this technology.

Do not get me wrong – the “old fashioned” ways of doing business are still effective. Networking events in which people put down their phones for 2 hours and socialize with one another and build relationships that way are still effective methods.

Print advertising is still very effective, as well, for multiple reasons, including the ability for the print version to be used digitally. Seeing someone face-to-face, being able to shake their hand, have

42 REDNews.com

a conversation and exchange business cards is a practice that will remain, even in this technologically-advanced age. However, it is now not the fastest and most effective way to reach your entire audience or network, especially since you cannot have that face-to-face interaction.

I believe not only is it important for brokers, investors, developers and CRE owners to catch up with many other industries, it is actually happening before our eyes. Ruth Brajevich, Chief Marketing Officer at Ware Malcomb wrote a great piece on social media, technology and the CRE industry. Brajevich talks about how big players in their respective industries are using social media as leverage and staying ahead of their competition. Larger corporations are not playing by ear, but taking an aggressive approach, using social media to their advantage. Brajevich cites a study by the University of Massachusetts Dartmouth’s Charlton College of Business Center for Marketing Research, entitled “2013 Fortune 500 Are Bullish on Social Media”. Some of their findings include: • 7 percent of the Fortune 500 had corporate Twitter accounts in 2013, a 4 percent increase from 2012.

• 70 percent of the Fortune 500 had a corporate Facebook page in 2013, also a 4 percent increase from 2012.

• New and emerging social media sites also are experiencing growth. These include Google+ (35 percent of the Fortune 500 had active corporate accounts in 2013), Pinterest (9 percent), Instagram (9 percent) and Foursquare (9 percent).

These companies aren’t just using social media to post work-related memes or funny cat videos,

but to engage their current followers, while expanding to new markets, demographics and audiences. The key is engagement – having 5,000 twitter followers means nothing in the long run if you do not pique their interest, and they become stagnant. Posting relevant and even controversial content that can be polarizing sparks interest and generates conversation.

As I mentioned, face-to-face interactions are great, but there is no practical way in which you can reach your entire intended audience with this method. That’s why social media should and will become a big player in the CRE industry, moving forward. Before the handshake prior to negotiations and once a deal is completed, the client you may be doing business with is someone who responded to a listing sent out via an email broadcast. That great new broker you hired, you would not have known about him or her without them sending in their résumé and you bringing them in (from another state sometimes).

Content that is a “call to action” to the recipient is the biggest key. Whether it’s a poll predicting retail industry trends to posting a job opening for your firm, companies will continue to grow and build their networks by taking advantage of today’s technology and new media.

So, the best game plan is to have a mix of both the “old-school” methods of building a brand (print advertisments, networking mixers, referrals) and the “new-school” ways, becoming more prevalent. Find your balance so your CRE firm can reach its maximum potential both with the old and the young.

Brajevich, Ruth. “Social Media and Commercial Real Estate: Strategies to Grow Your Business and Build Your Brand.” NAIOP. Winter 2013.

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