REDNews August 2015 - Central South Texas by RE Journals

August 2015 June 2015

In this issue: In this issue:

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

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@REDNews_CRE

StateLive/Work/Play of the Hotel Market CBRE Office Reports CRE Family Values Data Insight: Industrial The Texas Limited State of the Market Roundtable

REDNews Commercial Real Estate Marketing Source 7/22/2015 12:44:49 PM

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Rudyâ&#x20AC;&#x2122;s Austin Portfolio N N N I N V E S T M E N T O P P O R T U N I T Y | LO N G T E R M L E A S E S - O V E R 2 2 Y E A R S R E M A I N I N G Austin - 183 | 11570 Research Blvd.

Austin - 360 | 2451 S. Capital of Texas Highway

INVESTMENT OPPORTUNIT Y

Austin - 620 | 7709 Ranch Road 620 N.

Round Rock, TX/Encino Plaza

ded

Not Inclu

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DARRELL L. BETTS, CCIM Principal

HUNTER R. JAGGARD Vice President

Capital Markets Group D 713.993.7704 | F 713.993.7701 darrell.betts@avisonyoung.com

Capital Markets Group D 713.993.7828 | F 713.993.7701 hunter.jaggard@avisonyoung.com

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THE CENTER AT SAWDUST - FOR LEASE

1027 Sawdust Rd., Spring TX 77380 Rent Rate: $30 PSF NNN: $6.50 PSF TI: 25 PSF Demographic Summary 1 Mile: Population: 10,313 Median HH Income: $60,819 3 Mile: Population: 50,849 Median HH Income: $71,976 5 Mile: Population: 136,521 Median HH Income: $76,800

RAYFORD ROAD RETAIL CENTER - FOR LEASE

Preleasing 37,500 SF Ready for Occupancy Late 2015/Early 2016 Rent Rate: $32 PSF NNN: $7.00 PSF TI: $25 PSF Demographic Summary 1 Mile: Population: 11,133 Median HH Income: $90,431 3 Mile: Population: 50,397 Median HH Income: $86,832 5 Mile: Population: 119,451 Median HH Income: $77,548

For more information, Contact Jeff Goldberg 832-287-9958 jeff@realty1partners.com

Beau Evans 713-828-7578 evans@realty1partners.com

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IN THIS ISSUE

C O N T E N T & F E AT U R E S

PROPERTIES FOR SALE/LEASE

1-3, 5, 7-9, 11, 13, 1-3, 5, 7 – 12, 14 – 25, 27 – 29, 15-17, 19, 34, 35 33, 36- 41, 54 – 56 COMMERCIAL SERVICES

Environmental 22 Legal Services 34 Moving & Relocation 34

WHAT’S HAPPENING IN TEXAS CRE

Calendar of Events 24-29 Networking Photos 24-29 Deals & Announcements 30-32

ARTICLES CRE Family Values State of the Hotel Market The Texas Limited

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10,12,14 18 20,21

Houston, TX

FM 1464 & Bellaire Blvd

n n pe o O So g ow in N m I- o e -C s a II Phase Ph

(Pending)

Houston, TX

Hwy 290 & Jones Rd.

ap e C abl d il En va A SF e 0 Sit 0 6 7, Pad &

Midland, TX

Loop 250 & Midland Dr.

Lake Conroe, TX

Hwy 105

SF ila 0 va 0 5 A 2, ap C nd

ANDREW KILLION

(832) 380-8337

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| Andrew@GordonPartners.com

REDNews

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

PUBLISHER

PUBLISHER’S LETTER Dear Readers, I hope you’re having a fabulous summer even though we’re back to hot and dry in Texas. Based on the amount of “deals done” we receive on a daily basis, it appears that neither the price of oil or summer vacations are slowing down the CRE transaction process. We’re recording as many transactions as we did in 2014, although there are less in the office lease category, at least in Houston. This month our Southeast Texas front cover depicts one of Realty1’s retail development projects. In conversation with the company’s principal, John Hamilton, he mentioned that his retail tenant base is of the highest quality he’s ever seen. It’s interesting to note that he attributes that, somewhat, to oil company severance packages that are enabling high level former employees to become franchisees. Lower oil prices don’t seem to have impacted the hotel industry either. According to Bruce Walker and Michael Yu, the hotel market is strong. Read all about it on Page 18 which is a recap of a recent O’Connor & Associates Hotel Forecast event. REDNews’ writer, Brandi Smith, notes that real estate, more than almost any other industry, is built on relationships. She reached out to three companies with two generations working together to get their perspective on the rewards and challenges they have faced. (See Pages 10, 12, 14). Enjoy the rest of your summer and keep making those deals. Best Regards,

Ginger Wheless

Ginger Wheless ginger@rednews.com

EDITOR Marjorie Gohmert info@rednews.com

STAFF WRITER Janis Arnold janisarnold1@gmail.com Brandi Smith info@rednews.com CONTRIBUTING WRITER Ray Hankamer rhankamer@gmail.com ART DIRECTOR Susan Nguyen graphics@rednews.com

DATABASE MANAGER Matt Chisari matt@rednews.com DIGITAL DIRECTOR Laura Salazar digital@rednews.com MARKETING MANAGER Bri Martinez bri@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com

SALES Bri Martinez bri@rednews.com Ginger Wheless ginger@rednews.com

PRINT & DIGITAL DISTRIBUTION REDNews is directly mailed each month to commercial real estate brokers, investors & developers. 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 Paper Thank you, Midway Press To subscribe to REDNews call 713.661.6300 or log on to www.REDNews.com/subscription/ 5909 West Loop South, Suite 135 Bellaire, Texas 77401

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serviNg the ceNtrAl texAs hill cOuNtry ANd surrOuNds

exclusively listed trOphy rANches with prOxiMity tO AustiN, sAN ANtONiO ANd d/Fw

Spring Lake ranch

A large spring complex puts out 40–50gpm into one of the most scenic and deep lakes in this highly sought-after upper turtle creek area just outside charming kerrville. A nice lodge lies along the lakeshore, with beautiful rock patio bulkheaded into the shoreline, providing easy access for kayaks, fishing, snorkeling, floating and private relaxation. paved interior roads, manicured rolling rangeland and tons of wildlife round out the package. $9,932/acre = $2,950,000.

river canyon ranch

this rugged but stunningly beautiful ranch lies on the north banks of the fabled llano river, in an historic and remote area west of Mason. included is a permanent spring, outstanding native whitetail deer, awesome pecan bottom and staggering long range views of one of the prettiest stretches of live water known in texas. this blank canvas includes a secluded, private homesite overlooking the teal river in both directions, and a totally self-contained, spring-fed canyon that flows water much of the time. $4,500/acre = $2,011,500.

eL oSo river ranch

this fine working/hunting ranch lies on the north banks of the llano river, smack dab in the big middle of “the bluffs” which dominate that prized stretch of river west of Mason. good improvements and infrastructure are turn-key, and a fascinating, exotic spring creek winds its way through one of the most stunningly beautiful canyons known to the area. Monster views, wildlife galore, good cover of oak/mesquite and secluded but accessible location yield a legacytype offering, priced to sell at $4,500/acre = $7,699,500.

BLue LakeS river ranch

this neat ranch features 3,000’ of frontage on the concho river, which is up to 175’ wide in this area, and is loaded with fish. beautiful pecan and oak bottoms line the dirt bank river, and fertile bottomland fields include large stock ponds, pecan orchard and grass suitable for hay. A good ranch hQ’s provides value and utility, and the overall look is fairly open and clean, though there is adequate cover for deer, turkey and birds. Minerals are available, as are additional personal items and accessories. $2,750/acre = $1,790,250

210.422.4676 ̶ 830.997.8616 dec@landtx.com ̶ www.landtx.com Fredericksburg ̶ MAsON 1031 exchANge speciAlist

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Personalized Service. Proven Results.

www.tarantino.com ASHFORD PROFESSIONAL

909 Dairy Ashford Rd, Houston, TX 77079

NANES PROFESSIONAL

17030 Nanes Dr, Houston, TX 77090

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

MEDIC AL • Two Story Medical/ Professional Office Building • 11,929 NRA Contiguous Space Available on Second Floor • Located 2 Miles from the Houston NW Medical Center • 15 Minutes from IAH & The Woodlands

• Three Story Office Building • Beautiful Fully Remodeled Lobby & Common Areas • Conveniently Located Across Bayshore Medical Center • Generous TI Packages

• New Ownership • 1,000-56,000 NRA Available • Building Identity Available • Beautiful Atrium Lobby with Granite Finishes

• 1,000-40,000 NRA Available • Completely Remodeled in 2015 • Private Corner Balconies on Upper Floors • Located near FM 1960 & I-45 in Champions Forest

NORTHGREEN ATRIUM BUILDING

1300 N. Sam Houston Parkway Houston, TX 77032

7575 SAN FELIPE

7575 San Felipe Houston, TX 77063

• 46,462 SF, Three Story Medical Office Building • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance

OFFIC E • 1,510-2,398 SF Available in Suburbs of the Galleria • Common Areas, Lobby & Restrooms Remodeled in 2015 • Monument Signage Available • Numerous Shopping Centers & Restaurants Nearby

• 1, 117- 8,849 SF Available • Lobby & Common Areas Remodeled in 2014 • Covered two (2) story parking garage • Located near the Energy Corridor

908 E. SOUTHMORE

908 E Southmore Blvd, Pasadena, TX 77502

PASADENA PROFESSIONAL

3315 Burke Rd, Pasadena, TX 77504

NORTHCHASE BUSINESS PARK

14505 Torrey Chase Blvd Houston, TX 77014

1505 HIGHWAY 6

1505 Highway 6 Houston, TX 77077

TOWNSHIP SQUARE

WOODFOREST SHOPPING CENTER • Up to 11,017 SF Available • End Cap Available • NWC I-10 E Frontage @ John Ralston

10907-11095 I-10 East Houston, TX 77029

RESEARCH PLAZA

RETAIL • 3,965 SF End Cap Available • Freeway Visibility from I-45 North • Ample Parking • Anchored by Walgreens, Party City, Subway

19189 I-45 North Shenandoah, TX 77385

DE ZAVALA

12770 Cimarron Path, San Antonio, TX 78249

1005 INDUSTRIAL

• Up to 6,845 Retail Space Available • Easy Access to Highway 6 & U.S. Hwy 59 • Traffic Count Exceeds 30,653 CPD

• 3,000 – 10,000 SF, Flex Office & Biomedical Space Available • Climate Controlled Warehouse • Generous Tenant Finish-Out Allowance • Northwest Location with Easy Access to I-10 & 1604

• Hard Corner of Hwy 90 & Dairy Ashford • Up to 3,901 SF Available • Great Co-Tenancy • Traffic Count Exceeds 78,000 CPD

• Suite 250: 4,225 SF Warehouse & 3,336 SF Office Space Available • Easy Access to Beltway 8, I-45 and IAH • 2 Semi-Dock High Loading Bays • 1 Up- Ramp Allowing Drive in Access • Air Conditioned Warehouse

INDUSTRIAL • Stand-alone 15,000 SF Building • (3) 10ft. Roll Up doors- Grade Level Loading • Warehouse Ceiling Height 20ft. • New Roof

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

SUGAR POINT SHOPPING CENTER

9920 Hwy 90 Sugar Land, TX 77478

15340 VANTAGE

15340 Vantage Parkway E, Houston, TX 77032 INTERCONTINENTAL BUSINESS PARK

• 10,663 SF Available • 3 Phase Power • 18ft Ceiling Height • Easy Access to Beltway 8

1005 Industrial Sugar Land, TX 77478 CORPORATE OFFICE:

3340 FM 1092 Missouri City, TX 77459

15344 Vantage Parkway E Houston, TX 77032 SAN ANTONIO OFFICE: 12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222

AUSTIN OFFICE:

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

REDNews

FAMILY VALUES

By Brandi Smith for REDNews

eal estate, more than almost any other industry, is built on relationships. So it’s no surprise that the relationships we actively cultivate with friends, coworkers and clients are supplemented by those we create naturally with our family, all of which lend themselves to potential business partnerships. It’s not uncommon to find commercial real estate companies run by teams of friends, spouses, siblings and, of course, parents and children. Knowing that there are inevitable challenges that come with the latter pairing, we reached out to three established and esteemed companies with two generations working together: Kelley and Coe Parker of Cushman & Wakefield, Anthony and Nick Tarantino of Tarantino Properties and Bud Friedman and Kelly Ferguson of Fort Bend Real Estate. Kelley Parker has been with Cushman & Wakefield Houston since 1990. One of the company’s top-producing brokers, his team completed 805 sales and lease transactions valued at more than $1.385 billion between 2001 and 2014. Son Coe joined Kelley at C&W in 2005, quickly making a name for himself in industrial brokerage. What about real estate drew you in? Coe: “My father never pressured me into the business, I just kind of fell into it. I enjoy the flexibility to make my own schedule and that every day is different. I kind of look at it like I come in unemployed every day; I have to constantly be making deals, constantly making sure the pipeline stays full. “I like the industrial side of the business. I like that you can go out and walk through a 10 | REDNews.com

warehouse, see the cranes and work on more industrial-type deals. A lot of our team work focuses on the Port. Fishing has always been a big hobby of mine. In fact, our family came from the inland marine business. My dad was actually the first person in the family not to go into the family business. Being able to tie myself back to some of the things we do with barge and deepwater-type stuff and different Port-related Kelley Parker activities has been fun. Executive VP of Brokerage “[My dad] was able to Cushman & Wakefield be at every single one of my and my sister’s events. I definitely recognized that. But he’s a hard Was it a challenge to get used to worker. He gets up at 5 a.m. and being boss/employee vs. father/ hits it running and usually doesn’t son? stop until 5 or 6 p.m. He’s made a name for himself and I think if you Kelley: “I think it’s totally different mention Kelley Parker, his repu- than just a hiree who is now worktation definitely precedes him. He ing in your group or working with has one of the more stellar reputa- you. Early on, I probably got a little tions in the business that I’ve run more frustrated than I should have across because everybody I meet about progress and that type of always says, ‘Oh, you’re Kelley thing. I just tried to take more of a Parker’s son? You have some big laidback position and let him progshoes to fill.’ I enjoy that. I’d love ress at his own pace. It’s gone exto fill those shoes one day, make tremely well that way. He’s a fairly him proud and carry on his legacy accomplished young broker.” eventually.” Coe: “I think it was more on his Was there any hesitation in side. I made the statement that I working together? wasn’t going to call him ‘Dad’ here in the office, just Kelley. Now, occaKelley: “I was pleased that he sionally, they’ve merged together in wanted to work with me. Having a way. worked for my father for three or “It didn’t bother me that I four years, I was kind of appre- was learning from him. I think we hensive, wondering, ‘Will it work? both have a good dynamic and we Will it not work?’ I was glad he work well together. I’m a little bit wanted to go into the real estate more headstrong than he is, but business and that he thought it our personalities mesh well.” was interesting. He had done some internships in college at Has working together put any Cushman & Wakefield in Dallas. strain on your father/son relaThen when he came to Houston tionship? and worked in research, it gave him a pretty good background Kelley: “For me, it’s fun and excitbefore he branched out into the ing to see your son growing up in brokerage side of things.” the industry, getting respect from

Coe Parker Director of Brokerage Cushman & Wakefield

peers. Nothing warms my heart more than for one of my colleagues to come and say, ‘Coe’s been working with me on this job and he’s really doing a great job for me.’ Those little tidbits I get every now and then are the types of things a dad like to hear as well as a boss likes to hear.” Coe: “I think my mom gets jealous because we get to see each other every single day; then when I go to sit down for a family meal and we start to talk business, she says, ‘No, stop.’ “Working with Dad is a lot of fun. We both like the same things, whether it’s golf, hunting, fishing. We’ll occasionally goof off, but I like the fact that we’re able to communicate on a daily basis and be around my dad. He’s definitely someone I try to be a sponge around. He just has so much knowledge in the business. I don’t know how I could ever accomplish what he’s done in his career, but I hope to do that one day. He has a reputation that precedes him and opens doors. “I think we’re very lucky. We’ve always been a close-knit family, so we’ve never had any issues. We’ve always been able to work through anything. He’s like his dad; he has the patience of Job.” Continued on page 12

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gether at FBRE? Bud: “While she was with Merrill Lynch in New York City working with the Global Real Estate Fund, I was not very subtle in suggesting to Kelly that if she really wanted to take a step up in the world, she Kelly Ferguson could always join Fort Bend President Real Estate Corporation in Fort Bend Real Estate Corp. Sugar Land, Texas! Needless to say, I was very excited and wo years after getting his thankful that she did just that!” real estate license, Bud Friedman started Fort Bend Kelly: “My dad was eager for me Real Estate Corp., which bills itself to jump into brokerage, and, over as “a boutique real estate firm of- the years, I came to love serving fering brokerage, investment and clients through the brokerage consulting services.” In the years business. It’s incredibly rewarding since, he’s handed over the reins to negotiate transactions for tanto daughter Kelly Ferguson, who gible assets that change the way gained experience working for people live and work.” Merrill Lynch Global Principal Investments in New York before join- Are there any challenges that come from working together? ing her father at FBRE.

What about real estate drew you to this career? Kelly: “I accepted an interview for an analyst position with Merrill Lynch’s realestate investment group, although I was intently pursuing my goal of traditional investmentbanking. While prepping for the interview, I realized that I really enjoyed realestate analytics. My inclinations were clearly a product of early exposure to the industry.” How did you end up working to12 | REDNews.com

What are the benefits of working with a parent or child? Kelly: “We wouldn’t have it any other way. Our different styles and backgrounds create a great dynamic. Going to the office every day is fun and we keep each other laughing. Bud: “From her parents’ perspective, it is very gratifying to see her so successful in the business. There is a great deal of satisfaction in knowing that our family business will be in very capable hands as she takes it to different levels and places within the commercial real estate business. There is no doubt in my mind that she will continue to be very successful.” “Quite honestly, it is truly fun coming to the office every day. Kelly has a tremendous sense of humor. Working with her has been an absolute joy and, I might add, with a great deal of laughter.”

How has your relationship evolved as you’ve worked as colleagues? Kelly: “My whole life, my dad has led by example and provided encouragement without pressure. I couldn’t have asked for a better platform for my career.” Bud: “When Kelly first joined us, she would always run commercial and investment real estate deals by me to get my opinion. Now, I run deals by her to get her opinion! And, she always seems to be right!” Can you imagine one of your children following in your footsteps? Kelly: “Our 6- year- old son will undoubtedly become an attorney and our 5-year-old son wants to be a professional shark -chaser in California. Maybe there’s hope for our nearly 2-year-old son.”

Bud: “Probably the greatest challenge I have experienced is dealing with the transitioning of the operation to my daughter. Although I do not ever want to fully retire (I think that I will always want an office to go to every day), I would like to spend more time at fishing, golf, travel and at my ranch!” Kelly: “My greatest daily challenge is to contend with Bud’s lunch preferences, which include chicken fried steak, enchiladas and creamy seafood pasta.”

Bud Friedman Director / Former President Fort Bend Real Estate Corp. Continued on page 14

REDNews 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 Market Street Office Space For Lease

9595 Six Pines, The Woodlands

Spring Hill Office Space For Lease

Red Oak Surgical Arts Building For Sale

312 Spring Hill, Spring

17203 Red Oak Dr., Houston

• 560,000 SF mixed use development • Class A office space above ground-floor retail • Located in the heart of Town Center • Convenient reserved, covered and surface parking • Professional on-site management

• • • •

Havenwood Office Park For Lease

Parkwood One For Lease

25700 I-45, Spring

2,200-16,000 SF spaces available Private entry and private restroom Suites are individually metered Excellent location, approximately 1 mile from I-45, Hardy Toll Road and the Exxon Mobil Corporate Campus, currently under construction

10077 Grogan’s Mill Rd., The Woodlands

• Suites available from 1,347-4,500 SF • Surface & garage parking available, granite finishes and double glazed ‘E’ glass, back-up generator, energy management system and on-site storage area. • The building features recently updated common areas, including new carpet, wall covering, lights and ceiling tiles • Located in the heart of Town Center

Timberloch Place For Lease

The Preserve Office Park For Sale or For Lease

2002 Timberloch, The Woodlands

• Various spaces available from 981 - 7,839 S.F. • Located in the heart of Town Center, in close proximity to the Woodlands Mall, Market Street, The Cynthia Woods Mitchell Pavilion and the Woodlands Waterway • Easy Access to I-45 and the Hardy Toll Road • Parking garage with reserved spaces

• Space available: Suite 300 - 17,815 RSF & Suite 600 - 17,815 RSF with upgraded finishes • Town Center Location and walking distance to The Woodlands Waterway, Market Street and adjacent to the Cynthia Woods Pavilion • Excellent access - under ½ mile to 1-45

Vision Park Office Building For Lease

Panther Creek Professional Plaza II For Lease

Investment Opportunity For Sale

4840 W Panther Creek Dr., The Woodlands

821 Crossbridge, Spring

• Three-story building, five acre site • Typical floor plate: 25,000 SF; 75,000 SF available • On-site property management

• Panther Creek Professional Plaza II is centrally located adjacent to the Randall’s Panther Creek Village Center at the corner of Woodlands Parkway and West Panther Creek Dr. • Great location for medical or professional office space • Easy access to I-45 and The Woodlands Town Center

9400 Grogan’s Mill, The Woodlands

• 2 Story Medical/Office Building, 14,232 SF, close proximity to Houston NW Medical Center. • 88% Leased, 1,600 SF leasable space on 1st floor. • Close to various area retailers, restaurant, daycare, other medical office buildings • Located 0.7 miles north of FM 1960, 2 miles to 1-45 and 5.3 miles to Hardy Toll Rd.

• 250,000 SF Class A office building, under construction • High-end finishes, designed to be LEED silver certified • Located in between The Woodlands Town Center and Exxon Mobil campus • On-site property management and leasing

128 Vision Park, Shenandoah

Town Center Plaza For Lease

• Class A office building, high-end finishes • +/_ 7,625 SF building on +/_ 30,536 SF Land • 100% Leased, NNN investment • Just 1 mile south of The Woodlands and Exxon Mobil campus

25420 Kuykendahl Rd., Tomball • Located at the corner of Kuykendahl Road and Preserve Way, near Creekside Village • 1,250 SF - 12,500 SF Contiguous space available • Six buildings; one story; total 45,000 SF • High-end finishes including granite, wood floors, and crown molding • Convenient to Grand Parkway and Woodlands Parkway

Woodland Gate Plaza For Sale

719 Sawdust, Spring • Great location in The Woodlands Submarket, just minutes from The Woodlands Town Center • Three-story, atrium-style office building, with approximately 60,000 SF, situated on 3 acres. • Convenient from door and parking access with ample parking • Latest technologies • Easy access to I-45 and Hardy Toll Road

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

281.367.2220 jbeardcompany.com REDNews.com | 13

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.

REDNews

After working at separate companies, how did you end up working together?

very respectful of me. I try to be respectful of him as well. We have a very mutual working relationship. It’s never been a father-son/boss-employee kind of thing. But I do that with my entire company. I look at everyone as equals.”

Anthony: “Of course, I offered him a position with the company when he completed school, but he decided to go to work for another real esAnthony Tarantino tate firm. I thought that was President great. I knew he would find his Tarantino Properties way. I found my own way and had been very happy with that decision. “Then after a few years, eaturing “a full comple- ment of management, bro- he joined our firm and I was very kerage, leasing and reno- happy about that. He’s done a vation services for commercial great job. He’s very successful and multi-family communities,” in Austin.” Tarantino Properties was started by Anthony Tarantino in Nick: “When I first graduated 1980. Though their titles might from college, I wanted to get suggest son Nick works directly some outside experience. That under dad Anthony, the two lead paid off nicely and it was great very separate professional lives to learn things a different way. within Tarantino; Anthony oper- My dad and I have always been ates the company’s Houston of- very close, so I didn’t have any hesitation. Having the opportufice, while Nick runs Austin. nity to stay and work in Austin How did your dad influence and have my dad be at our corporate office in Houston providyour career choice? ed me with a great opportunity Nick: “Tarantino Properties is to work for a large company and older than I am. My dad started still be able to communicate with the company in 1980 in Hous- my dad.” ton, so I grew up at the dinner table hearing about deals. Oc- Have you run into any chalcasionally, we’d drive to see lenges as father/son because different properties and go look of being boss/employee? at real estate. I grew up around it and it was always something Anthony: “Nick and I have alI had an interest in. You can ways had a great relationship: physically go to a property and as a kid, as adults and as assoimprove it, build on it, change ciates. I don’t ever look at him as his ‘boss’ and he’s always it.”

Nick: “It comes really easily. I think the hardest part is sometimes we’ll get so excited talking about a deal or property or just the real estate business, we get each other worked up. The challenge is just knowing when to take a break and be off the clock, so to speak. Real estate is a real passion for both of us, so when we’re together, we tend to talk about it a lot. We have to really make an effort sometimes, especially when I’m with my wife or other members of the family, to take a little bit of a break and sit back and enjoy the scenery.”

14 | REDNews.com

What are the benefits of working together? Nick: “Not only have my dad and I had fun

in this business, but it can be very rewarding to know you’re providing a high level of service and helping your clients. To better manage a property, to lease the property or to maximize the value of the asset, is very rewarding. Being around my dad and growing up seeing him do those things, it’s natural to want to do that. That’s our approach too in this business: we have very long-term relationships with many of our clients. Our goal is to help maximize the value of their assets and help build wealth.” Anthony: “Nick and I have a lot of the same personality traits. I see a lot of the energy in him that I had when I was his age. I’m the sole owner and stockholder in Tarantino Properties, so it’s great to know that your oldest son is getting experience and making good decisions and helping navigate the company to the future. He’s very much a part of the big picture of Tarantino Properties and he’s done a lot of things to help navigate our company to the next level as well.”

Nick Tarantino Vice President Tarantino Properties

REDNews

GREENBERG & COMPANY Commercial Real Estate Brokerage Firm

PROFESSIONAL OFFICES - GREAT LOCATIONS FOR LEASE

FOR LEASE/SALE

3323 Richmond Avenue

421 Fannin Street

Property Information

Building Size: 12,300 SF Land Size: 19,000 SF NET - NET - NET Major Thoroughfare along Richmond Ave. Great Visibility High TraďŹ&#x192;c Counts 41 Covered Parking Spaces

Building Size: 20,000 SF Land Size: .295 Acres Renovated in 2006 10,000 SF Available - First Floor 10,000 SF Available - Second Floor High Visibility

Houston, TX 77098

Houston, TX 77002

Lease Price: Call For Details

Contact Broker: David Greenberg - David@greenbergcompany.com - 713-778-0900 WWW.GREENBERGCOMPANY.COM 5959 Richmond Ave., Suite 440 Houston, TX 77057

Downtown

SOLD

COMPLETED

the Galleria

S. Gessner Rd.

COMPLETED

610 Medical Center

SOLD

COMPLETED Twin Star Bakery

Beltway 8 S.

COMPLETED Stream Warehouse Development

FOR SALE 82 Acres Cravens Rd. SOLD

er Rd S Gessn

SOLD

Pike Rd.

Main St

Texas Pkwy.

Rd.

W. Airport Blvd.

P ik

S. G

ess

Sta

ner

ffo

18 Acres can be subdivided

90 A/ S.

FOR SALE

S. Gessner Rd.

Fondren Rd.

US Hwy.

t wa

S Gessner Rd.

Texas Pkwy.

COMPLETED Global Geophysical Services

COMPLETED

Bel

UNDER CONSTRUCTION International Package Delivery Company

SOLD

UNDER CONSTRUCTION International Package Delivery Company

SOLD

W Bellfort Ave.

SOLD

COMPLETED Stream Warehouse Development

COMPLETED

Beltway 8 S.

S. Gessner Rd.

COMPLETED Ben E. Keith

SOLD

COMPLETED Stream Warehouse Development

SOLD

Cravens Rd.

COMPLETED Global Geophysical Services

can be subdivided

SOLD

Main St .

SOLD

COMPLETED

SOLD

can be subdivided

FOR SALE 18 Acres

COMPLETED Twin Star Bakery

90 A/ S.

SOLD

COMPLETED

US Hwy.

COMPLETED

Fondren Rd.

W. Airport Blvd.

SOLD

COMPLETED Stream Warehouse Development

SOLD

H w y.

90A/

n S. M ai

St .

FOR SALE 82 Acres

can be subdivided

A PROJECT OF

INVESTMENTS

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REDNews

16 | REDNews.com

REDNews

Price Reduced • Commercial Land

•

3.11 Acres Commercial Land in Katy

•

Lakecrest Manor Drive just east of Katy Fort Bend Road

•

Franz Rd

Future convenience store going in on the adjacent corner of Lakecrest Utilities in-place

•

Site is ideal for a variety of commercial uses including storage or day care

•

Katy Fort Bend Rd

Manor and Katy Fort Bend Road •

$3.65/SF ($495,000) Kevin Dalrymple 713.722.1250

www.clay-co.com

kevin@clay-co.com

FOR SALE FM 2920 FRONTAGE UNRESTRICTED COMMERCIAL PARCELS

RKO Ranch – Huntsville, Texas Desirable Whitetail Deer Facility Close to Houston & Dallas • Includes a 4 bed room/4 bath house built in 2008 • 2 bedroom/1 bath apartment • Security system • Commercial walk in cooler Great for Individual or Corporate Retreat

• 34 Acres site size • 1,450 feet frontage on FM 2920 • 550 feet frontage on Mahaffey Road • Water & Sewer lines onsite Dowdell PUD • 2 Curb Cuts on FM 2920; 1 on Mahaffey • Traffic controlled Steubner Airline @FM 2920

• 15 Acres site size • 884 feet frontage on Mahaffey • Water & Sewer lines onsite Dowdell PUD • 2 curb cuts on Mahaffey • Traffic controlled Mahaffey @FM 2920 • Klein ISD #32 Elementary School adjacent • $3.95 P/SF

• 169.112 acres acres including lake with aeration system • Irrigation system & 2 water wells • $2,300,000 Adjoining 180 acres also available FOR MORe InFORMaTIOn:

GREENBRIAR REAL ESTATE SERVICES INC. 5625 FM 1960 West Suite 402 Houston, Texas 77069 Louis Braden or Rich Norris (832) 721-8304 or (713) 805-3178 lrb009@hotmail.com or rsn52@hotmail.com

Marshall Willey Homestead Land Company 281-851-0828 MarshallWilley@aol.com www.RKORanch-Huntsville.com

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REDNews

State of the Hotel Market O’Connor & Associates Luncheon, July 2015 By Brandi Smith for REDNews

il prices might be half of what they were a year ago, but they’re not having much of an impact on Texas hotel markets, according to two industry experts. Bruce Walker and Michael Yu reported on the state of the market at a luncheon hosted by O’Connor & Associates in July. “[The] trend is positive and we don’t see a major change in that in spite of oil prices dropping in half,” said Walker, president of Source Strategies Inc., a San Antonio-based hotel consultancy. He reported that Texas sees more than 90 million consumer registers a year, which generates $10 billion in revenue. In fact, in the first quarter of 2015, Walker says room revenues were up 7.5 percent. “Any industry where the dollar revenues are up 7.5 percent, it’s not bad,” he says, noting that 2014 recorded 9.7 percent increases. Yu, first vice president of investments for Michael & Millichap, echoed that, saying “We’re going to see growth, though maybe not as crazy as the past couple of years.” Walker says one of the key numbers he looks at when gauging how the hotel market is doing is new supply. “Are we in any danger of overbuilding?” he says he asks himself. “Well, [our] numbers say absolutely not.” The numbers to which he’s referring are revenue per room and occupancy rates. Walker reports revenue has consistently gained over the past four 18 | REDNews.com

years and occupancy has seen almost no change. “If supply is in balance with demand, you are going to see almost no change in occupancy because we have an equilibrium where the return on capital equals the cost of capital,” Walker explains. Another indication the hotel industry is “still a very healthy industry,” according to Walker, comes in the form of Revenue Per Available Room Per Day (or RevPAR). Walker reports the state average is $60, though Houston’s RevPar is $77, Dallas and San Antonio sit at $72 and Austin reaches $103. Breaking down the market: Houston Houston has had “pretty solid, rapid growth for the past four or five years,” says Yu. “Ten percent growth is pretty impressive.” That growth helped make Houston the top investment market in the country for the past couple of years, but Yu expects that to slow down. He reports 22 percent more hotels are entering the market, creating 18 percent more rooms. “As a seller, the best time to sell in Houston is yesterday,” says Yu. “You wish you had put the hotel on the market about 12 months or six months ago.” Yu says if you are in the market to sell, expect prices lower than they’ve been over the past few years. But, he adds, if you don’t sell right now, you’ll likely end up holding on to the property for the better part of a decade. “If you don’t want to own a hotel for the next five to sev-

Michale Yu

en years, just don’t build it,” he advises. “You may be stuck in it.” Breaking down the market: Dallas Dallas’s hotel market is experiencing the opposite ofHouston; while growth has been slow for the past few years, it’s now starting to take off. “Our opinion,” says Yu, “is Dallas is probably going to be the fastest-growing major market in Texas.” He reports roughly 50 hotels are expected to come online in the next year, making it difficult for buyers to find a good deal. “Since it’s a heavily competitive market, if you want to build, build the right brand, which could be a challenge,” Yu says, because a lot of the best brands are taken. However, those circumstances are ideal for buyers, who, Yu estimates, have a 24-month window for peak pricing. Breaking down the market: Austin

The “best market in the

Pat O’Connor

Bruce Walker

state” is Austin, according to Yu, but he does expect growth problems to slow it down. He says the city is adding 20 percent more hotel properties, which brings an additional 24 percent more rooms. “Based on this, we think if you want to sell a hotel in Austin, now is the time,” says Yu. For buyers, he recommends conservative underwriting because of Austin’s anticipated rapid growth over the next two years. Breaking down the market: San Antonio San Antonio used to be the biggest hotel market in the state after adding more than 150 hotels between 2007 and 2010, but new construction has almost ground to a halt. “This is what I like about San Antonio: very little new supply,” says Yu. “As a buyer, if you find something decent [there], I would jump onto that because the revenue is going to go up.” Sellers, he says, have a similar window as those in Austin: 12 to 24 months.

REDNews

LEVCOR, INC.

PHARR TOWN CENTER NOW OPEN

NOW LEASING PHASE II Dan Smith 713.268-3716 dsmith@levcor.com

Pharr

www.Levcor.com

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REDNews

Ray Hankamer talks TH with Frankl

in brokerage and consulting with commercial real estate clients, primarily in matters involving the major railroads. Can you describe situations where real estate developers can need help with the railroads, which are notoriously hard to deal with if someone has no experience?

Ray’s REDNews BUZZ RN: Franklin, you have gotten a lot of recognition over the years from your creating THE TEXAS LIMITED, with the late George Mitchell, the excursion passenger train between Houston and Galveston. What I suspect our readers do not know is that once as a young man you were a brakeman for the Santa Fe, riding freight trains and living out of cabooses and boarding houses along the rail line. Following that, you were a merchant banker for a number of years in London, and since THE TEXAS LIMITED experience you have been immersed 20 | REDNews.com

FMD: To best answer that question one needs to differentiate between industrial/commercial developers and retail/residential/commercial developers. The need for cooperation from the railroads by industrial developers, who are creating rail served facilities, is obviously keenly felt by the railroad since this kind of development increases their business. This involves the design and installation of switches, spur tracks, etc. that must be designed to fit in with the railroad’s operations. Given our understanding of rail operations we are often able to assist the developer and the railroad in coming together to bring about the successful completion of a new project. Retail/residential developers are often looking

to the railroads for such things as a new road crossing over the track to provide vehicular access to the development. This is a major problem because it increases the future liability for the railroad resulting from crossing accidents. Possible solutions include designing the entranceway to be elevated over the track or abandoning two other existing crossings located elsewhere. RN: I know you have developed strong relationships within the operating departments of railroads serving Houston, and that you have a well-developed understanding of what railroads can and cannot do. I have occasionally heard the word “tenacity” mentioned in the same sentence as your name. Can you give some actual instances where you solved problems for clients involving railroad crossings, approval of rail spurs, etc? FMD: The best example I could give you of my success in se-

curing the cooperation of a railroad on behalf of a client occurred several years ago. The client, Martin Marietta Materials, the largest aggregate company in the country and my largest and oldest client, bought from my other client, Union Pacific Railroad, a 44 acre tract which U.P. had given me a listing on and which I assembled with an adjacent 16 acres. The 60 acre site in South Houston would not accommodate a circular track as U.P. wanted. After a lot of hard work we were successful in getting the railroad to agree to a straight track configuration. It is the most profitable of all Martin Marietta’s material yards in the Houston area. RN: We have talked about your helping real estate developers with the railroads. I know some of your brokerage and consulting is done FOR the railroads on parcels of land which, in some instances, they have owned for over one hundred years. Sometimes these parcels are available through you, but not openly

REDNews

HE TEXAS LIMITED lin Denson advertised on the market. And, I know you have represented some of the large national firms who are traditional railroad customers in their real estate needs. Can you give us some examples about this aspect of your work? FMD: Land which can be industrially developed and rail and/or water served is in short supply, especially in metropolitan areas. Most of that land does not have a For Sale sign on it. Recently, I was retained by a large client for whom I have done consulting work for several years to negotiate, on their behalf, for the lease of an existing rail spur. This project would require their use of adjacent land which was neither for sale or lease. I identified the land owners, who, as it turns out, I’ve known for many years and I am in the process of negotiating a lease with them. At the same time, I’m involved in discussions with the connecting railroad to ensure that the railroad will provide service to the spur, a complicated project with a lot of moving parts. RN: As a distribution center, Houston is geographically the closest deep water port to much of the southern and central United States. What can you tell us about what the railroads in the Greater Houston area are doing around the port and in the industrial East/Southeast side of town to get ready for the expanded distribution needs which will come when the wider Panama Canal opens? FMD: That’s a good question. Rail congestion in the Houston area and particularly at the Port of Houston is a problem

due to limited capacity and the recent increase in demand for rail service. I cannot comment on exactly what the railroads’ future plans for expansion are but I can tell you that they are highly focused on that issue. I can tell you that Union Pacific has just begun to double track their mainline in the Sugar Land / Richmond / Rosenberg area to increase capacity and relieve congestion. RN: My understanding is that the primary railroads serving Houston are the BNSF, the Union Pacific, and the Kansas City Southern…as well as the Houston Belt and Terminal for local switching of cars. Can you describe briefly the focus of these railroads and, of course, add any one I have omitted? FMD: Their focus is to move as much freight as their customers require as quickly, efficiently and safely as possible. RN: In closing, what is the scenario you see for passenger rail in its different forms in Houston: slowly expanded Amtrak? Realization of high-speed trains in the Dallas-Houston-Austin-San Antonio triangle? Slowly developing commuter rail to a central downtown station? An expanded light rail network? Will slow return to passenger rail create commercial real estate development opportunities? FMD: Those are very broad questions. I don’t know what the future of passenger rail for Houston will be. I do know that George Mitchell and I mounted a multi-million dollar Herculean effort to re-establish the precedent and operation of passen-

ger trains on existing rail corridors with the six year operation of the Houston-Galveston TEXAS LIMITED train. Our hope was that the public would take it over and expand it to provide conventional commuter service to the suburbs. That didn’t happen because the public officials refused to support it and instead directed their interest to the light rail system we now have. With regard to Dallas-Houston-San Antonio-Austin high speed trains, I think that would be great but I think such an operation should utilize interstate highway corridors as much as possible for all the obvious reasons. I do not believe such operations can be built and operated without public subsidy.

Franklin Denson specialist in railroad real estate brokerage & consulting

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C A N C A L E N D A R

A N N O U N C E

W H AT â&#x20AC;&#x2122; S HAPPENING i n C R E Te x a s

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 daily!

N E T W O R K

CENTRAL/SOUTH TEXAS

August

2015 Sunday

Monday 2

Tuesday 3

Wednesday 4

Saturday 7

BOMA Austin Executive Committee Meeting 11:30am-1:00pm CREW Austin Public Relations Committee (Breakfast) 9:00am

CREW San Antonio August Luncheon 11:30am-1:00pm

Friday

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

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

Thursday

BOMA Austin Board of Directors Meeting 7:45am-9:00am

RECA Exchange: Mid Year Economic Forecast 8:00am-1:00pm

CTCAR Market Data 7:30am-9:00am

20 BOMA Austin Luncheon 11:30am-1:00pm

CTCAR MCE Course “Income Property Analysis” 8:00am-6:00pm

CTCAR Market Data 7:30am-9:00am RETAIL LIVE JW Mariott

26 RECA REAL YP Recruitment Party 5:30pm-7:30pm

RECA Webinar: An introduction to Argus Valuation 2:00pm-3:00pm

31 CTCAR TAR Commercial Event (Fort Worth) See Flyer

FOR MORE INFORMATION VISIT REDNEWS.COM

NETWORKING CREW San Antonio June Luncheon

1. CREW San Antonio July Luncheon guests CREW San Antonio 2. Cynthia Ellison, Kennedy Wilson Firm

RECA June Happy Hour at Brew Exchange 1. Colin Parker and his guest smiling happily at the fun event 2. Chera Johnson, Bridget Dreuler, Ward Tisdale, Brian Cassidy 3. RECA members posing for a photo at the successful event 4. RECA Events Manager, Hannah Gabel with eventâ&#x20AC;&#x2122;s attendees

RECA June LDC Alumni Happy Hour 1. The successful event took place at Austin Ale House 2. Kevin Atherton, Joel Wixson 3. Amanda Swor, Danae Falvo 4. RECA Director of Development, Katie Comer and Ryan Shipley

FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

NORTH TEXAS

August

2015 Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday 1

BOMA Fort Worth Luncheon 11:30am-1:00pm BOMA Fort Worth CSC: Fall Cabi Collection 5:30pm CREW FT Worth Spring on the River 11:30am-1:00pm

CREW Fort Worth Night at Globe Life Park 7:00pm-10:00pm CREW Dallas Networking Luncheon 11:30am

ULI SIGNATURE EVENT: ANNUAL INFRASTRUCTURE EVENT

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

CREW Dallas August Luncheon 11:30am-1:00pm

BOMA Fort Worth Board of Directors Meeting 12:00pm-1:00pm

FOR MORE INFORMATION VISIT REDNEWS.COM 2014 Sponsorship Packages now available! Is your company looking for exposure and recognition in the commercial real estate industry? SPONSORSHIP OPPORTUNITIES START AT $750.

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

commercial real estate women

North Texas CCIM

NETWORKING CREW Dallas June Meeting

1. Kellie Davidson, Ann Murray, Charles Bissell and Laurie Conway Johnson at the meeting sponsored by D2 Architecture. 2. Pam Stein, Kim Hopkins, Cincha Kostman, Cindy Cohn 3. Sally Longroy, Charles Bissell and Lauri Conway Johnson at the event held at Park City Club with over 150 members and guests attending.

Cushman & Wakefield of Texas (Dallas) at DBJ Best Places Awards Ceremony 1. Cushman & Wakefield was ranked #4 in Medium-Size Companies 2. Guests smiling at the superhero themed event 3. Cushman & Wakefield at DBJ Best Places to Work 2015 4. Happy guests at Tha Fairmont Dallas Hotel

TREC Dallas June Power Hour 1. Event speaker A.C. Gonzalez 2. TREC Dallas members learned about their cityâ&#x20AC;&#x2122;s development 3. TREC Dallas members posing happily at the well attended event

FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

SOUTHEAST TEXAS

August

2015 Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday 1

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

10 BOMA Houston RPA/FMA Course- Assest Management All Day CREAM Houston Luncheon 11:30am-1:00pm

11 BOMA Houston RPA/FMA Course- Assest Management All Day

FBSCR Meeting 8:00am-9:00am

CREN Luncheon 11:00am-1:00pm

BOMA Houston RPA/FMA Course- Assest Management All Day

Your real estate de

BOMA Back To School Bash Happy Hour 5:00pm-7:30pm BACREN Luncheon 10:30am-1:00pm HRBC Breakfast 7:00am-8:30am

O’Connor & Associates Land Forecast Luncheon at H.E.S.S. Club 11:30am-1:00pm

Count on a CPM® professio

ULI Houston Luncheon 11:30am-1:30pm BOMA Houston Leadership Lyceum 8:30am-10:00am

BOMA Houston RPA/FMA Course- Assest Management All Day

CPM

For o turn

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

FOR MORE INFORMATION VISIT Networking

Educat ion

A CP z De z Ple REDNEWS.COM z sta Pro

Technology

CCIM Course Scholarships CI 101, CI 102, CI 103, CI 104

IREM AUSTIN PRESEN

NETWORKING ACRP June Happy Hour at La Grange

1. Brian Cogburn, Dave Gilkeson 2. Michelle Gupton Froehlich, Fred Hawley 3. Tom Langley, Ben Aronson, Howard Khan 4. Imed Abdullah, Bill Pederson, Lee Girard, Steve Sapio

CCIM Houston July Luncheon 1. Graduate real estate students at the University of Houston and Rice University Luncheon 2. Attendees networking at the CCIM University Alliance Luncheon 3. The successful event was well attended and took place at Maggiano’s Little Italy

O’Connor and Associates Hotel Forecast Luncheon

1. Guest Speaker Bruce Walker of Source Strategies Inc. 2. Guest Speaker Michael Yu of Marcus & Millichap 3. Guest Speaker Michael Yu of Marcus & Millichap with luncheon attendees

FOR MORE EVENT PHOTOS VISIT http://www.REDNews.com/category/networking-photos/

IF YOU WOULD LIKE TO SUBMIT YOUR PHOTOS TO BE FEATURED IN THIS SECTION CONTACT: BRISEHYDA MARTINEZ | BRI@REDNEWS.COM | 713 661.6300

REDNews

ANNOUNCEMENTS

Patrick Short

ARA, a Newmark Company has hired Patrick Short as managing director and part of the capital market groups in their Austin office.

Central/South Texas Austin/San Antonia Areas

INDUSTRIAL

Dode Harvey

Dode Harvey has been hired by Kennedy Wilson in San Antonio as senior director of property management.

OFFICE Austin,TX: (LEASE) Fashions Forms leased 90,000 SF at McNeil 1, 12317 Technology Blvd. Mark Emerick, John Barksdale and Darryl Dadon represented the landlord, PS Business Parks.

Austin, TX: (LEASE) PlainsCapital Bank leased 15,000 SF on the 10th floor and 1900 SF of retail space on the ground floor at 201 W. 5th Street. Trish Williams and Seth Johnston with Lincoln Property Company represented the landlord and Robert Wynn and Rick Whiteley with Oxford Commercial represented the tenant.

Austin, TX: (LEASE) Tires to You LLC leased 41,894 SF in MoPac 4 at MoPac Business Park, 3800 Drossett Drive. Brian Liverman & Camille May with Peloton Commercial Real Estate represented the landlord and Andrew Creixell with CSA Realty represented the tenant.

Austin, TX: (LEASE) Snow Software leased 27,149 SF at Capstar Plaza, 1702 W. 5th Street. Chad Barrett with Aquila Commercial LLC represented the landlord and John Wheless & Kris Svec Simmons of Aquila Commercial LLc represented the tenant. Austin,TX: (SALE) Florida-based Accesso Partners LLC purchased the 688,432 SF Riata Corporate Park located at 12331 Riata Trace Parkway from San Francisco-based Spear Street Capital.

McAllen, TX: (SALE) CiLogistics Group purchased McAllen Distribution Center, a vacant 210,140 SF industrial warehouse at 6800 International Parkway in the Sharyland Business Park. The seller was Los Angeles-based 6800 International Ltd.

Austin, TX: (SALE) Valor Capital Partners of New York purchased the 60,720 SF Wells Fargo Building at 2028 E. Ben White and the 60,295 SF Central Creek Plaza building at 1812 Centre Creek Drive. The seller was Dallas-based Rancho Texas 20 Investments LP.

Round Rock, TX: (SALE) Long View Equity Partners purchased 160,830 SF in five buildings in the Forest Commons Business Park at 2912-2920 Gattis School Road. The seller was HOWMAT Development L.P. Greg Marberry of CBRE represented the seller. San Antonio, TX: (CONSTRUCTION) Connâ&#x20AC;&#x2122;s HomePlus is building a 305,000 SF distribution center at 1710 Cornerway Blvd in Northeast San Antonio.

LAND

San Antonio, TX: (SALE) KBS Real Estate Investment Trust III purchased Promenade and II at Eilan at 17806 & 17802 I10. The combined properties have 200,072 SF.

RETAIL Austin, TX: (SALE) North Carolina-based Hopper Communities purchased 42.1 acres from Sealy & Company. The site, bordered by Heatherwilde Blvd and Wells Branch Pkwy., has been rezoned from industrial to single-family residential use.

Austin, TX: (SALE) Whitestone REIT purchased Parkside Village North & Parkside Village South for $45 million in cash. The two centers total 117,146 SF and are located in Circle C Ranch in SW Austin.

MULTI-FAMILY

Leander, TX: (CONSTRUCTION) Cypress Equities purchased 12.72 acres at the SWC of Lakeline Blvd & Crystal Falls Pkwy for the construction of a 93,642 SF retail center. SRS Real Estate will develop and lease the center.

Austin,TX: (CONSTRUCTION) Presidium Group purchased 5.6 acres from GHI Investments in the East Riverside corridor at 1600 Pleasant Valley Road to build apartments. Longbow Real Estate Group represented the buyer and Texas Premiere Realty represented the seller.

San Antonio, TX: (CONSTRUCTION) DeZavala Marketplace, a 40,000 SF office/retail project is being constructed at the corner of DeZavala Road & JV Bacon Blvd. Cal Ivey & Katie Ludowig of Rohde Ottmers & Siegel Realty will be handling the leasing.

Austin, TX: (SALE) Montgomery, AL- based B&M Management Company purchased the 450-unit Villages of Sage Creek and the 460-unit Park at Walnut project from Dallas-based Whole Like Management. The seller was represented by Patton Jones with ARA Newmark.

San Antonio, TX: (CONSTRUCTION) Mexico-based Galleria Ventures Ltd is constructing The Plaza at Vance Jackson, a 28,000 SF center at the SEC of Vance Jackson & UTSA Blvd. Drake Commercial Group will be handling the leasing.

Austin, TX: (SALE) Denver-based Griffis Residential purchased the 232-unit Talavera Apartmetns located at 13425 North FM 620. The project has been renamed Griffis Lakeline Station. Austin, TX: (SALE) FourPoint Investments handled the sale of a 33-property, 810-unit including The Zone, The Edge and The Ion at East End in the East Riverside neighborhood. Nimes Capital from California was the purchaser. San Antonio, TX: (SALE) Austin-based investment firm Brixton Santa Fe SA LLC purchased the 327-unit Santa Fe Place project located at 4210 Fredericksburg Road. The seller was Helotes-based SFP Apartments LLC.

30 | REDNews.com

San Antonio, TX: (SALE) Culebra-Crown Meadows Ltd., an affiliate of Carmichael Development Co. sold the 52,732 SF Crown Meadows Shopping Center located at 7613-7616 Culebra Rd to CJ Park & Associates. Rusty Tamlyn, John Taylor, Matt Berry and Robbie Kilcrease of HFF represented the seller.

SELF STORAGE Killeen, TX (SALE) An unidentified buyer purchased the 50-building, B.A. Emmons Self Storage. Michael Johnson, John Owens and John Arnold of Bellomy & Company represented the seller.

For more deals go to: www.REDNews.com/category/deals-and-announcements/

ANNOUNCEMENTS

REDNews Bob Moorhead, Joe Caputo and Mark Wheeler

Bob Moorhead, Joe Caputo and Mark Wheeler have formed Trivanta, a new real estate advisory firm specializing in net leased property dispositions.

North Texas

Dallas/Ft. Worth Areas

Bill Brokaw

Dallas-based Hillwood has launched Hillwood Urban to target mixed-use, office and corporate build-to-suit projects. Bill Brokaw, formerly with Cushman & Wakefield, has joined the Hillwood team.

OFFICE

HOTEL

Allen,TX: (CONSTRUCTION) TIG Real Estate Services plans to develop a 154,000 SF, six-story office building along the Sam Rayburn Tollway between Stacy & N. Watters Rds. Dan Bowman, executive director and CEO of Allen EDC said the company optioned 8 acres as well as an additional 17 acres for development.

Dallas,TX : (CONSTRUCTION) Virgin Hotels is planning to build a 200-room hotel on Hi Line Drive at Turtle Creek Blvd. Dunhill Partners, along with Vinculum Partners & the Crosland Group, will develop the hotel.

Dallas, TX: (CONSTRUCTION) Harwood International is developing a 130,000 SF build-to-suit office building adjacent to Saint Ann Court at Harry Hines Blvd & Moody Street for Rolex.

INDUSTRIAL Coppell, TX: (LEASE) JAS Forwarding (USA), Inc. leased 57,519 SF at Park West Crossing located at 930 S. Freeport Parkway. Ryan Boozer & Jeremy Kelly with Stream Realty Partners represented the landlord, ML Real Partners. E. Smith Realty Partners, LLC represented the tenant.

Dallas, TX: (SALE) Institutional investor Chicago-based RREEF purchased Galleria North Tower II, a 13-story, 306,244 SF building located at 13727 Noel Road for $71.25 million from Seattle-based Metzler Real Estate. The seller was represented by CBRE.

Dallas, TX: (CONSTRUCTION) Miyama USA Texas & Pillar Commercial are teaming up to build a two-building, 250,000SF office/showroom/distribution project. It is located off I-35 just south of Spur 482. The third phase will be built on eight acres and will contain 115,000 SF.

Dallas, TX: (SALE) Dallas-based real estate investment firm Frontier Equity in a J.V. with Maryland-based Artemis Real Estate Partners purchased the 11-story, 260,000 SF office tower called The Addison, located at 14951 N. Dallas Parkway.

Dallas, TX: (LEASE) Billingsley Company has leased 50,000 SF at Mercer Business Park, located at IH635 & IH 35E, to Triton Stone Group, a distributor of granite and other natural stone products.

Fort Worth, TX: (CONSTRUCTION) Facebook Inc. plans to begin construction on a 110-acre data center campus east of the I35W corridor.

Grand Prairie, TX: (LEASE) DART Warehouse Corp signed a six-year lease for 143,003 SF at Regency I, located at 1025 Post & Paddock Lane. Michael Spain and Kevin Santaularia with Bradford Cos. Represented the landlord, Crow Holdings and Holmes Davis with Binswanger represented the tenant.

Irving, TX: (LEASE) Stericycle, Inc leased 23,242 SF at Crestview Tower, located at 105 Decker Court. Tim Terrell & Mark Hayes with Stream Realty Partners represented the landlord. CBRE represented the tenant.

Grand Prairie, TX: (LEASE) Mainstreet Integration Services & Consulting, Inc. leased 60,000 SF at Main Street Distribution Center A, located at 2510 W. Main Street. Cannon Green & Luke Davis with Stream Realty Partners represented the landlord, Liberty Property Trust and Chris Bly with Proterra Properties, Inc. represented the tenant. Wilmer, TX: (CONSTRUCTION) Port Logistics Realty has partnered with Diamond Realty Investment, a subsidiary of Mitsubish, to build a 530acre, $500 million industrial park on the east side of I45 near Union Pacific Railway’s intermodal freight yard.

Lewisville, TX: (LEASE) Toyota Motor Sales, USA., Inc. leased 40,250 SF at Office Center 121, located at 397 Highway 121. Tim Terrell, Matt Wieser & Chase Lopez with Stream Realty Partners represented the landlord and Brad Selner, Torrey Littlejohn and Brooke Armstrong with JLL represented the tenant.

MASTER-PLANNED DEVELOPMENT Denton Cty/Wiley, TX (NEW CONSTRUCTION) Two Dallasbased developers, Siepiela Interests & Taylor-Duncan Interests, have formed a new JV called Allegiant Realty Partners to develop Bozman Farms and ArrowBrooke in Denton County and in Wylie.

LAND Lancaster, TX: (SALE) Van Trust Real Estate LLC purchased 164 acres in master-planned Ridge Logistics Center at the NEC of Dallas Avenue & Telephone Road. The buyer plans to develop big-box and speculative bulk industrial buildings on the site. CBRE’s Jack Fraker represented the seller.

RETAIL

MIXED USE Fort Worth, TX: (CONSTRUCTION) Fort Worth’s Hickman family and California-based Majestic Realty Group will redevelop 70 acres of the Historic Stockyard in Fort Worth with an 800,000 SF development including 180,000 SF of restaurants, retail, and offices as well as an outdoor festival and events area. Frisco, TX: (CONSTRUCTION) Hillwood Properties, VanTrust Real Estate & The Rudman Partnership are developing Frisco Station, a 242-acre mixed-use development on the Dallas North Tollway north of Warren Parkway. The development will include more than 6 million SF of office space, 2400 residential units, hotels and more than 200,000 SF of retail space.

For more deals go to: www.REDNews.com/category/deals-and-announcements/

Cross Roads, TX: (SALE) Lovett Commercial sold two multitenant buildings totaling 24,000 SF at the NEC of US 380 and FM 424. Ryan West, Matt Berry and Robbie Kilcrease of HFF represented the seller. Plano, TX: (SALE) Atlanta-based Preferred Apartment Communities, through wholly-owned subsidiary New Market Properties, purchased the 140,218 SF Independence Square retail center at 3100 Independence Parkway from Watson & Taylor Management.

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REDNews

ANNOUNCEMENTS Southeast Texas Houston Area

Robert Kramp & Michelle Miller

Robert Kramp and Michelle Miller have joined CBRE as Director of Research & Analysis & Research Operations Manager, respectively.

Ben Newell

John Leader

John Leader has joined Davis Commercial Real Estate as a commercial broker.

Richard Zigler Graham Horton

Richard Zigler Graham joined the Horton joined Cypressbrook CBRE as Sr. VP, Company as a specializing in principal. office tenant representation.

Houston, TX: (CONSTRUCTION) Alliance Residential Company along with their jv partner, The Carlyle Group, purchased a 10.5 acre tract on Gillette & West Dallas from the City of Houston. They sold 6 acres of the tract and will develop a luxury apartment project on the southern 4.5 acres. Jeff Peden with Cushman & Wakefield represented the buyer.

INDUSTRIAL Tomball, TX: (Construction) Tomball Business & Technology Park sold 17.4 acres to Packers Plus Energy Services for the construction of a 50,000 SF research & development center, a 237,000 SF manufacturing building & a 40,000 SF corporate office. Tom Condo Jr. of Colliers International represented the seller and Brandi McDonald with Newmark Grubb Knight Frank represented the buyer. Deer Park, TX: (LEASE) DCT 225 Distribution Center, LLC leased a 100,000 SF distribution facility to S.I. Warehousing Co., Inc at 2902 East 13th Street. B. Kelley Parker, III, John Littman, Coe Parker and Tim Thomas of Cushman Wakefield represented the tenant and Will Hedges of DCT Industrial Trust represented the landlord.

Ben Newell will serve as Sr. VP of Transwestern Development Company’s new Houston industrial development division.

Houston, TX: (SALE) Alliance Residential Company sold Broadstone Post Oak located at 3100 Post Oak, to Strategic Capital, the US-based investment platform of China State Construction Engineering Company. Ryan Epstein, Clint Duncan & Wes Breeding of CBRE Capital Markets’ investment properties team represented the seller.

OFFICE Houston, TX: (LEASE) Tarantino Properties, Inc announced the lease renewal and expansion of Intrua Financial at 1502 Augusta for 11,000 SF. Peggy Rougeou & Eric Ohlson with Tarantino Properties represented the landlord and Chadd Bolding with Colliers International represented the tenant.

Houston, TX: (SALE) Mayfield Properties LP sold the 120,810 SF property located near the Houston Ship Channel and an AnheuserBusch brewery to ATCAP Partners in an all cash transaction. The Houston & Dallas offices of HFF oversaw the transaction. Houston, TX: (SALE) Twinrose Investments sold the 126,821 SF distribution facility at 8787 Wallisville Road. Rusty Tamlyn, Trent Agnes & Wesley Hightower of HFF represented the seller.

Houston, TX: (LEASE) IHI E&C, an engineering & construction company, has leased 158,050 SF in West Memorial Place II just south of Memorial Drive and west of Terry Hershey Park. The building is being developed by Skanska USA and the lease will commence January 2017. Mark O’Donnell of Savills Studley represented the tenant.

Houston, TX: (SALE) Levey Group sold to TriStar Glass Products a 66,000 SF crane-served design-build facility on 5.2 acres inside Levey’s IAH Business Park. Nick Peterson and John Ferruzzo of NAI Houston represented the seller and Blake Anderson and David Eseke of Cassidy Turley represented the buyer.

Houston, TX: (LEASE) Virtis, a fixed-income asset administration provider, signed a 10 year lease for 26,198 SF at 1301 Fannin. Chris Lewis of Lee & Associates represented the owner, Netrality Properties, and Bruce Fehn of UGL Services represented the tenant.

Houston, TX: (SALE) Central Wire, Inc purchased a 30,000 SF crane capable building on 9 acres at Keith Harrow Blvd & Barker Cypress. Finial Development & Construction (FDC Bear Creek LP) was the seller and was represented by Keith Bilski, Neil Martin and Mike Sperandio. The buyer was represented by Janae Evans and Joe Evans of Evtex Companies.

The Woodlands, TX: (LEASE) Newfield Exploration signed a 10 year lease for 24,910SF at 24 Waterway Avenue. Steve Sim represented Black Forest Ventures in-house. Houston, TX: (SALE) Hines is reportedly purchasing the Houston Chronicle building located at 801 Texas Avenue from Hearst Corporation.

Humble, TX: (SALE) International Frontier Forwarders purchased a 10,000 SF office/warehouse on 20 acres off Smith Road from B.J. Hardin & II CB, LP. The seller was represented by Barney Van Huss and the buyer was represented by Matt Rogers & Leigh Anne Ahr of Proximity Real Estate Advisors.

Katy, TX: (SALE) A Boston-based institutional advisor sold Mason Creek I, a 135,716 SF building at 21420 Merchants Way to Canadian investor Nicola Crosby Real Estate. Robert Williamson, Jeff Hollinden, Dan Miller & Rusty Tamlyn with HFF represented the seller.

MIXED-USE Houston, TX: (CONSTRUCTION) Read King is developing a 130 acre mixed-use project, Waterview Town Center, at the NWC of Grand Parkway and Grand Mission. The project will include restaurants, retail, medical, office space and multifamily developments. Houston, TX: (CONSTRUCTION) The Signorelli Company is preparing to develop The Timbers on 2749 acres at FM 2100 & Trent Road near the Grand Parkway. Houston, TX: (CONSTRUCTION) Lovett Commercial is under contract to buy the downtown US Post Office site which includes 16 acres at 401 Franklin. The site is projected for a mixed-use development.

MULTI-FAMILY Houston, TX: (CONSTRUCTION) Streetlights Residential has started construction on the 17 story, Azalea Court project which is the second phase of their multi-story development at Westheimer & Mid Lane.

32 | REDNews.com

RETAIL

Katy, TX: (CONSTRUCTION) The Shoppes at Parkwest/Katy, a 450,000 SF shopping center is under construction at the NE quadrant of I10 & Katy Fort Bend Road. The Retail Connection, its development arm Connected Development Services and Medistar Corp are developing the project.

Baytown, TX: (SALE) Guy Pfitzner purchased 44 acres on FM 565 near the Grand Parkway from Sperry Eugene Family Trust. Lee Jones and Tommy LeBlanc of Avison Young represented the buyer and Brenda Wagner with Mary Dunn Real Estate represented the seller.

For more deals go to: www.REDNews.com/category/deals-and-announcements/

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ACRES OF OPPORTUNITY ABOUND IN NORTH AND WEST HOUSTON.

FM 1960 at FALLBROOK

11611 CHAMPION FOREST

2 Land Tracts For Sale - 4.24 Acres & 3.11 Acres

Land For Sale - 64 Acres

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• Well-positioned in the high growth northwest market • Adjacent to CVS on hard corner and surrounded by medical users

• Approximately 1,200 FT of frontage along Champion Forest Drive • Utilities available through MUD-202 and not in the floodplain

Contact: Keith Grothaus, CCIM, SIOR

Contact: Keith Edwards, CCIM, SIOR

MORTON ROAD

STUEBNER AIRLINE

Land For Sale - 49 Acres

Land For Sale - 45.03 Acres

• Approximately 1,750 FT of frontage along Morton Road

• Approximately 1,120 FT of frontage along Stuebner Airline Road

• Approximately 1,200 FT of frontage along Katy Hockly Cut-off Road • Unrestricted - Utilities available through the City of Katy

• Approximately 2,000 FT of frontage along Middlestedt Road • Unrestricted and not in the floodplain

Contact: Keith Edwards, CCIM, SIOR

Caldwell Companies has the extensive local experience and unmatched market expertise needed to serve your land brokerage needs. HOUSTON

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