Oldham Goodwin's Commercial Quarterly | 3rd Quarter 2009

Commercial Quarterly Retail • Office • Industrial • Multifamily • Land • Hospitality

Commercial Real Estate Quarterly Review

3rd Quarter

2009

www.OldhamGoodwin.com

Commercial Quarterly 3rd Quarter 2009

We are pleased to present to you our first edition of Commercial Quarterly. Our goal is to showcase some of the great commercial real estate opportunities and the talented individuals that sell, lease, manage and develop them. While it is no surprise that the number of commercial transactions has slowed, deals are still getting done. Texas and especially Bryan/College Station is still a happening place.

Take a simple look at the number of cranes in the air or the numerous infrastructure improvements occurring. Better yet get in the car and drive by the Texas A&M Health Science Center being constructed or tour Texas A&M’s main campus and see the largest freshman class in Texas A&M’s history stepping out to start college this month.

Numerous shopping centers, hotels, medical facilities and restaurants are still on the rise and by most accounts have been and will be warmly received. Housing inventory is at all time lows and the quality of life is still extraordinary. The effects of the recession have been slight here as compared to the rest of the country, but challenges still loom on the horizon. Regardless the outcome I believe our spirit will not be broken and our company will remain firmly committed to the highest levels of integrity, character and grit needed to navigate whatever challenges lie ahead.

Thank you for your continued business and trust!

Casey M. Oldham

Chairman, CEO 979.268.2000 casey@OldhamGoodwin.com

Hunter Goodwin

President, COO 979.268.2000 hunter@OldhamGoodwin.com

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Brokerage Division Profile Brokerage Division Profile Who We Are Headquartered in College Station, The Oldham Goodwin Group (formerly The Oldham Group) is only one of two companies providing dedicated commercial real estate brokerage services in the Brazos Valley. The foundation of our brokerage division is our intimate knowledge of the local market. Our experts have over 35 years of combined experience in maintaining brokerage relationships in local and regional markets, which enables us to be the region’s best information source and transaction service provider.

In 2008, The Oldham Goodwin Group closed multi-million dollar brokerage transactions for private and institutional investors, multi-million dollar development transactions and managed several hundred-million dollars in real estate assets. By closing more transactions than most of our competitors, our brokerage professionals are able to provide clients with an unparalleled perspective on the local and regional commercial real estate market.

These transactions include shopping centers, office and industrial buildings, multifamily properties, single-tenant net-lease properties, hotels, self storage and land.

The Oldham Goodwin Group has established itself as a leading and expanding commercial real estate brokerage company with multiple brokers and over 250 employees serving secondary and tertiary markets across the state. A service business is only as good as the people that serve. This is why Oldham Goodwin’s success is gauged by quantifiable results achieved with the dedication and professionalism of our employees.

2008 Brokerage Transactions (As A Percentage) 15% Office

Recent Brokerage Transaction Locations

15% Retail Lubbock

10% Hospitality

5% Self Storage

Granbury

Fort Worth

10% Industrial Killeen Bryan/College Station Austin Somerville Hempstead Houston New Braunfels Bellville

20% Multifamily 25% Land Retail Multifamily

Hospitality Self Storage

Industrial Office

Freer

Land Note: All Locations Are Approximate

Mission of The Oldham Goodwin Group, LLC Maximize value creation for all stakeholders by providing integrated commercial real estate services to select market segments. We have a distinct accessible expertise and connection with our target markets.

809 University Drive East, Suite 101A College Station, Texas | 77840 O: 979.268.2000 | F: 979.846.7020 www.OldhamGoodwin.com

About the Cover: The new Best Western Atrea at Old Town Center, Bryan, Texas, is the second Atrea Prototype Hotel to open. This 100 room hotel features a modern upscale design, well-appointed rooms and 4,000 SF of customizable conference space. This hotel is near many local attractions including Historic Downtown Bryan & Texas A&M University. For reservations visit www.OldhamGoodwin.com.

Editor & Graphic Design: Dale Sandlin

Volume 1, Issue 1

© 2009 The Oldham Goodwin Group, LLC. The information herein has been obtained from sources deemed reliable. Although we believe it to be accurate, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any values, projections, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Stock photos from Microsoft Clip Art Gallery.

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Property Items Explained Featured Properties Location: This box describes the address and city of the available property.

Bryan Medical Center | Bryan

For Sale

For Sale or Lease: This box descirbes whether the property is For Sale, For Lease, Sold or 100% Leased.

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Property’s Description: This box explains the property’s features.

High Quality Medical Building Adjacent To St. Joseph Regional Hospital • 10 Year NNN Lease With St. Joseph’s For First Floor • Energy Management Systems And Key Card Entry • Ideal For Medical Practitioner Owner Occupant

Property’s Map Location: This icon indicates and matches the property’s location on it’s corresponding map.

Visit www.OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Factors Affecting Commercial Real Estate In Today’s Market In the first six months of 2009, the Bryan/College Station commercial real estate market has become a complex environment for both buyers and sellers alike.

While the Retail, Office and Industrial sectors of the Bryan/College Station real estate market have seen a slowdown in activity, this market provides stability and is full of opportunities for qualified buyers. The following factors should be considered by commercial real estate owners and investors attempting to buy or sell commercial real estate under the current market conditions.

Valuation: Where does my property stand?

With a limited number of investors active in the market, property values have decreased across all sectors, Retail, Office, and Industrial. Very strict underwriting by financial institutions has limited the pool of buyers to those with cash and/or exceptional creditworthiness. The investment buyers that remain active in this economic climate tend to be experienced real estate professionals who understand the risks associated with today’s market. With that understanding, investor’s expectations for return have increased, leaving sellers with two options: i) choose to weather the storm and wait for the market to rebound or ii) lower their expectations in an attempt to dispose of their property. It is in those instances where sellers accept market conditions and price their assets at a level indicative of today’s market.

Transactions: What is selling and who is buying?

With the regional economy still relatively strong, many local businesses have elected to acquire new facilities and take advantage of decreased market value for office and industrial buildings. With quality long-term, local banking relationships, most users are able to obtain financing. The majority of owner occupant sales that have taken place ranged from $250,000 to $1,000,000, with larger businesses

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focusing more on efficiency and maximizing space within their current facilities.

Financing: Where is the money?

Privately held, local and regional banks have been the saviors in the local commercial real estate market. With Citibank, N.A., significantly reducing its local presence and the FDIC takeover of Franklin Bank, the opportunity for local banks to grab market share is better than ever. Creditworthy buyers have secured financing through local banks with relative ease. These local institutions are aggressively pursuing opportunities to finance acquisitions in exchange for the business owner’s or investor’s operating accounts. In addition, the SBA is making great efforts to make real estate loans more readily available.

With these factors at play, the commercial real estate market is growing increasingly complex. Now more than ever, it is important to seek the help of a professional in the industry before acquiring Retail, Office, or Industrial real estate. If you are an investor looking to maximize returns in the current market, a small business seeking to acquire a larger facility, or a seller looking to maximize your proceeds in a soft market, the Commercial Group at Oldham Goodwin is committed to providing you with unparalleled local market knowledge and specific commercial real estate expertise.

Clinton D. Oldham

Senior Sales Associate - Commercial Group c 409.781.7734 clint@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Commercial Properties 3385 San Gabriel | Hearne

Rent-A-Center Building | Bryan

For Sale

For Sale

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~156,000 SF Manufacturing Facility • Union Pacific Rail Spur Access • Priced Below Replacement Cost

Highly Visible, Hard Corner Texas Avenue Location • Upside Potential With Lease Up Of Vacant Space • National Tenant – Very Successful Location

805 S. Texas | Bryan

6250 Fourwinds Drive | Bryan

For Sale

For Sale

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~8,650 SF Metal Showroom Warehouse • Ready To Open Body Shop, All FF&E To Convey • Excellent Retail Location On Texas Avenue • Over 1.4 Acres With Ample Yard Space

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~5,850 SF On Over 3.65 Acres In East Brazos Industrial Park • Priced Below Replacement Cost $35.72 Per SF • Built In Metal Storage Racks In Shop Area

RECENT TRANSACTIONS For More Information Contact:

Clinton D. Oldham

Oldham Goodwin represented the seller in the disposition of a 121,689 SF Multi-Tenant Business Park

Oldham Goodwin represented the buyer in the acquisition of a 41,085 SF Retail Shopping Center

Senior Sales Associate Commercial Group p 979.268.2000 f 979.846.7020 c 409.781.7734 clint@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Commercial Properties 3100 Texas Ave | College Station

Park Hudson Lots | Bryan

For Sale

For Sale

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~ 1,560 SF Retail Quick Lube Facility • Highly Visible Texas Avenue • Abundant Traffic Counts • Near Super Walmart Redevelopment • Ready To Open, All FF&E Conveys

Ready To Develop Office Tracts In Upscale Park Hudson • All Utilities Available To Site • ~39,640 – 54,014 SF • Architectural Controls And Deed Restrictions

2870 N. Harvey Mitchell Pkwy | Bryan

3600 SH 6 South | College Station

For Sale

For Sale

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~ 60,000 SF Light Manufacturing Facility • High Quality Construction & Functional Class A Office Space • Active Union Pacific Rail Spur • Priced Below Replacement Cost

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100% NNN Leased Office Building • Fiber Optic Connectivity • Built In Rental Escalations • SH 6 South Frontage & South College Station Location

RECENT TRANSACTIONS For More Information Contact:

Clinton D. Oldham

Senior Sales Associate Commercial Group p 979.268.2000 f 979.846.7020 c 409.781.7734 clint@OldhamGoodwin.com

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Oldham Goodwin represented the buyer in the acquisition of a 2,840 SF Office Building

Oldham Goodwin represented the seller in the disposition of a 2,044 SF Office Building

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Commercial Properties 3800 SH 6 South | College Station

Park Place Plaza | College Station

For Sale

For Sale

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Multi-Tenant Retail And Office Center • ~44,057 SF With Great Visibility Along SH 6 • Ideal For Investor Or Owner Occupant • Great Upside With Lease Up Of Vacant Space

~98,800 SF Furniture Store Anchored Neighborhood Center • Excellent Redevelopment Opportunity • Priced Below Replacement Cost • Coveted Texas Avenue & Southwest Parkway Hard Corner Location

6240 Fourwinds Drive | Bryan

Downtown Bryan Flex Space | Bryan

For Sale

For Sale

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~15,000 SF Multi Tenant Office/Warehouse Space • Excellent Occupancy History With Great Cash Flow • Built In 2006 & Priced Below Replacement Cost • Situated On Additional Developable Land Of 13.03 Acres

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~10,000 SF Office Warehouse Facility • Central Downtown Bryan Location • Fully Climate Controlled Warehouse & Shipping Area • 3 Phase Power With 1,200 Amp Service

RECENT TRANSACTIONS For More Information Contact:

Clinton D. Oldham

Oldham Goodwin represented the seller in the disposition of a 6,500 SF Office Complex

Oldham Goodwin represented the buyer in the acquisition of a 2,000 SF Retail Space on Northgate

Senior Sales Associate Commercial Group p 979.268.2000 f 979.846.7020 c 409.781.7734 clint@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Commercial Properties 3850 Corporate Center Drive | Bryan

3501 Texas Avenue | Bryan

For Sale

For Sale

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Located In Class “A” Park Hudson Business Park • Shell Conditions Lends Itself To A Custom Office Finish Out • Convenient Access To University Drive & SH 6 South • Architectural Controls & Deed Restrictions

Highly Visible Hard Corner Office Building • 100% Occupied With Excellent History • 9.78% Cap Rate On Actual NOI • Projected 14.83% Cash On Cash Return • Adjacent Commercial Lot Conveys At No Additional Cost

Market Square Shopping Center | Brenham

424 Tarrow | College Station

For Sale

For Sale

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~79,686 SF With Adjacent Pad Site • JC Penney Anchored Neighborhood Shopping Center • Potential Redevelopment Opportunity With Availability Of Grocery Box • Good Mix Of Local & National Tenants

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Irreplaceable Location Adjacent To Future Convention Center Site • High Growth Area Near Hotel & Restaurant District • Close Proximity To TAMU • 100% Occupied • 9.42% Cap Rate On Actual NOI

RECENT TRANSACTIONS For More Information Contact:

Clinton D. Oldham

Senior Sales Associate Commercial Group p 979.268.2000 f 979.846.7020 c 409.781.7734 clint@OldhamGoodwin.com

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Oldham Goodwin represented the buyer in the acquisition of the 4,971 SF Garden District Building

Oldham Goodwin represented the buyer in the acquisition of a 8,174 SF Office Building near Texas A&M University

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Commercial Properties Hwy 79 Shopping Center| Franklin

Bryan Medical Center | Bryan

For Sale

For Sale

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High Volume Exxon Branded Gas Station/ C-Store • Over 17,000 SF Attached In-Line Retail • Long Term Leases With Dollar General & Subway Corporate • Highly Visible Location On US Highway 79 In Franklin, TX

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High Quality Medical Building Adjacent To St. Joseph Regional Hospital • 10 Year NNN Lease With St. Joseph’s For First Floor • Energy Management Systems And Key Card Entry • Ideal For Medical Practitioner Owner Occupant

RECENT TRANSACTIONS For More Information Contact:

Clinton D. Oldham

Oldham Goodwin represented the seller in the disposition of a 4,000 SF Office Building in Crescent Pointe

Oldham Goodwin represented the buyer in the acquisition of a 4,362 SF Office Building

Senior Sales Associate Commercial Group p 979.268.2000 f 979.846.7020 c 409.781.7734 clint@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

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979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Land Markets Slump, but Future Still Looks Bright While commercial development has slowed significantly and credit is harder to come by, there are still several factors that point to a promising future for the value of all land types in the Bryan/College Station area and throughout Texas.

The State of Texas has historically maintained some of the most affordable housing in the United States and the cost of living statewide remains very low when compared to the rest of the country. Combine these points with the fact that Texas collects no income tax, and we see a market that is becoming more and more attractive as a haven for transplants from other states with higher living costs and rising income tax rates. All things considered, it would appear that the State of Texas, and emerging secondary markets like Bryan/ College Station, are headed for a population boom over the next 20 years. A quick look inside the numbers reveals some interesting findings.

According to James P. Gaines, Looming Boom: Texas Through 2030, the population of Texas currently sits at approximately 23 million people and recent studies conducted by the U.S. Census Bureau and State Statewide Rural Land Prices Counties: Texas

Median Price Per Acre

$2,500 $2,000 $1,500 $1,000 $500 $0 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 Year Real

Nominal

(Adapted From: http://recenter.tamu.edu/data/agp/rlttx.htm)

of Texas demographers reveal that our population is expected to increase to approximately 29 million people by the year 2020 and approximately 35 million individuals by 2030. Should these estimates hold

true, there will undoubtedly be some rather significant implications on the value of both rural and commercial properties, throughout Texas.

After a huge increase in value and transactions from the year 2003 to 2007, the Texas rural land market has seen a marked decline in the number of sold transactions. With the contraction of our economy, we have seen the pool of buyers for recreational and agricultural properties shrink significantly. One would assume that with a huge drop in the number of transactions, we would see a sharp decline in price. The contrary appears to be true, as rural land prices in Texas continued a steady rise through the end of 2008, as depicted by the figure shown below. In a nutshell, it appears that rural land prices in Texas should remain relatively insulated in this economy, as many still perceive rural land in Texas to be a good value.

Commercial land assets have seen a marked decrease in demand over the course of the past year, largely due to economic factors and an increase of vacancy rates in existing fully developed inventory. Subsequently, the demand for new commercial office and retail development land in the marketplace has contracted significantly. In spite of this, commercial development land remains a finite product and solid investment vehicle. Commercial development land, especially in emerging markets like Bryan/College Station, should continue to be a viable investment option with a respectable return for years to come.

While the current situation that many of us face seems grim, opportunities do exist both in acquiring and disposing of land assets in Bryan/College Station and throughout Texas. Land has always proven to be a predictable and relatively inflation proof asset. There is certainly no reason to believe that this should not continue to be the case, even in the midst of the difficult economic times we face.

Vernie D. Bodden

Senior Sales Associate - Land Group c 979.777.4641 vernie@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Land Properties ~25 AC on Old Reliance Road

3 Office Lots on Greens Prairie Rd | College Station

For Sale

For Sale

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Mixed Zoning With 19 Acres Multifamily & 6 Acres General Commercial • Directly Across From The New Earl Rudder High School • All Utilities Available To Lot Line • High Growth Corridor Of Northeast Bryan

3 Individual Office Lots • All Utilities Available To Lot Line • Located In High Growth Corridor Of South College Station • In ETJ & Not Subject To College Station Zoning

~.95 AC Acres on Texas Avenue | College Station

~1.09 AC on Longwood Drive | Pearland

For Sale

For Sale

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~.95 Acres On The Corner Of Redmond Drive & Texas • Prime Commercial Corner In The Heart Of College Station • Within ½ Mile Of Texas A&M University • All Utilities Available To Site

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Ideal Office Or Specialty Retail Tract • Located Off Of Extremely Busy Thoroughfare • Close Proximity To Various National Retailers • All Utilities Available

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

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Oldham Goodwin represented the seller in the disposition of a ~617 AC Recreational Tract

Oldham Goodwin represented the buyer in the acquisition of a 19 AC tract

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Land Properties ~68.6 ACS on Taylor Road | College Station

3.36 AC on Harvey Mitchell Pkwy | College Station

For Sale

For Sale

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Ideal Recreational Tract • Located In Direct Growth Path Of College Station • New Fencing & Entrance • Rolling Topography With Large Trees

Excellent Location In Close Proximity To Texas A&M • Ideal For Medium Sized Multifamily Development • All Utilities Available • In Close Proximity To TAMU Shuttle Stop

~3.92 AC on N. Earl Rudder Fwy | Bryan

~10 AC on FM 2818 | Bryan

For Sale

For Sale

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Highly Developable Commercial Tract • Located In High Growth Corridor Of Northeast Bryan • Highly Visible • Access From 2 Roads • Ideal For Office Development Or Car Lot

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Located In Close Proximity To Texas A&M University • In Close Proximity To New Texas A&M Health Science Center • Ideal For Neighborhood Strip Retail Development • All Utilities Available

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Oldham Goodwin represented the buyer in the acquisition of a 53 AC tract for Commercial Expansion

Oldham Goodwin represented the seller in the disposition of a ~10 AC tract next to the College Station Police Department

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Land Properties ~12.69 AC on S. Ranch Road 620 | Austin

2112 W. Briargate Drive | Bryan

For Sale

For Sale

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Well Situated & Highly Developable • In High Growth Corridor Of Northeast Bryan • All Utilities Available • Ideal For Restaurant Or Carwash User

Highly Visible On Ranch Road 620 • Located In The High Growth Community Of Lakeway, Texas • Located Adjacent To New Lakeway Regional Medical Center • Ideal For Medical Office Or Assisted Living Facility

~6 AC on Clarks Lane| Bryan

10658 CR 175 | Iola

For Sale

For Sale

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Ideal Light Industrial Tract • Access From 2 Roads • All City Utilities Available • In Close Proximity To State Highway 6 & Highway 21

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Great Recreational Tract • ~5 Miles From College Station • Adjacent To Established King Oaks Development • Possibility For Future Commercial Use

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

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Oldham Goodwin represented the buyer in the acquisition of a ~15 AC tract on Earl Rudder Freeway

Oldham Goodwin represented the seller in the disposition of a ~1 AC tract on Earl Rudder Freeway

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Land Properties ~34 AC on Crosswind Drive | Bryan

5412 Satterwhite Road | Buda

For Sale

For Sale

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Medium Sized Light Industrial Development Potential • Small Recreational Ranchette Property Potential • Close Proximity To Other Light Industrial Properties

Ideally Situated Tract In High Growth Buda, Texas • Close Proximity To Austin Metropolitan Area • Within 1 Mile Of New Austin Toll Road • Within 2 Miles Of I-35 • Close Proximity To Super Walmart & Cabelas Anchored Developments

~1.29 AC on Associates| College Station

~2.4 AC on Wilkes Street | Bryan

For Sale

For Sale

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Ideally Located Commercial Tract • Quick Access To State Highway 6 • Ideal For Office Or Small Service Company • All City Utilities Available

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Highly Visible From State Highway 6 • All City Utilities Available • Ideal For Office Warehouse Or Mini Storage

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Oldham Goodwin represented the seller in the disposition of a ~1 AC tract on Luther Street in College Station

Oldham Goodwin represented the seller in the disposition of a ~2.4 AC tract on Autumn Lake Drive

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Land Properties ~4 AC on William J. Bryan Pkwy | Bryan

~11 AC on N. Graham Road | College Station

For Sale

For Sale

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Highly Developable Tract In High Growth Corridor Of Northeast Bryan • Situated At A Signaled Intersection • Extrememly High Traffic Counts • All City Utilities Available • Ideal For Neighborhood Retail Or Hotel Use

Good Residential Tract In Rapidly Growing Area • College Station ISD • Ideal For 1 To 3 Acre Lot Residential Development

~11.26 AC on N. Graham Road | College Station

~3.72 AC on Texas Ave | College Station

For Sale

For Sale

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Good Residential Tract In Rapidly Growing Area • College Station ISD • Ideal For 1 To 3 Acre Lot Residential Development

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Great Commercial Tract Centrally Located In College Station • Access From Texas Ave & Morgans Lane • Ideal For Hotel Or Office Development • All City Utilities Available

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

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Oldham Goodwin represented the buyer in the acquisition of a ~2.86 AC tract on 29th Street in Bryan

Oldham Goodwin represented the buyer in the acquisition of a ~14,000 SF self storage facility on Arrington Road

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Land Properties Tower Point Tract “B” | College Station

Tower Point Tract “C” | College Station

For Sale

For Sale

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~5.5 Acre Corner Commercial Tract • Excellent Restaurant Or Drive Through Bank Potential • Highly Accessible & Visible From Highway 6 • All Utilities Available To Lot Line • Regional Detention

~ 9.5 Acre Corner Commercial Tract • Ideal For Office Or Neighborhood Retail Development • Highly Accessible & Visible From Highway 6 • All Utilities Available To Lot Line • Regional Detention

Tower Point Tract “D” | College Station

Tower Point Tract “E3” | College Station

For Sale

For Sale

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~17.7 Acre Commercial Corner • Ideal For Mixed Use Commercial/Office & Multifamily Development • All Utilities Available To Lot Line • Regional Detention

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~2.3 Acre Commercial Tract • Easily Divisible Into 2 Tracts • Ideal For Single Tenant Office Or Retail • All Utilities Available To Lot Line • Regional Detention

RECENT TRANSACTIONS For More Information Contact:

Vernie D. Bodden

Oldham Goodwin represented the seller in the disposition of a 2,780 SF Duplex on Cornell Drive in College Station

Oldham Goodwin represented the buyer in the acquisition of a 2,676 SF Duplex on Oldenburg in College Station

Senior Sales Associate Land Group p 979.268.2000 f 979.846.7020 c 979.777.4641 vernie@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

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Commercial Quarterly 3rd Quarter 2009

Featured Land Properties 2223

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

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979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Is It A Good Time To Buy Or Sell Bryan/College Station Duplexes?

Yes, it is an excellent time to buy multifamily property in Bryan/College Station! Financing in the secondary market is still available and rates are favorable for duplexes and fourplexes. Investors still must be prepared to put in up to 30% of the purchase price for the duplexes and fourplexes to qualify. The apartment market in College Station is very strong with properties often traded among investors directly and never brought to market. Bryan apartments that are not primarily occupied by students are not in as high demand.

These non-student apartments have seen an overall drop of 15-20%. The buyers are looking for better opportunities in this distressed market and few sellers are willing or need to sell for current values. Several pockets of slightly distressed duplex and fourplex properties in desirable locations are trading at up to

Fort Worth

Dallas

Austin San Antonio

Bryan/ College Station Houston

Note: All Locations Are Approximate 20% off of the values seen on 2007. These are being consumed by local investors that are willing to manage and reposition the assets.

The Bryan/College Station multifamily market, a small market with over 50,000 transient college students,

has remained somewhat insulated from the national problems due to the steady occupancy and security perceived with owning real estate near Texas A&M University. With very few large rental property developments planned for 2010, strong occupancy and increased rent is predicted for the next 18 months.

Inventory of duplexes on the market remains low due to the high number of owner occupied purchases by college students and their families.

The July issue of The Economist highlighted the Texaplex (a triangle between Dallas/Ft. Worth, Houston, and San Antonio) and pointed out several interesting facts. All three are among the nation’s top ten largest cities. The port of Houston is the second largest in the United States and it is expected to eclipse Chicago as the third largest American city according to the 2010 Census. D/FW regional airport is the third largest in the U.S. and San Antonio has experienced rapid growth over the past five years. College Station sits right in the middle of this triangle and has also experienced explosive growth. Texas A&M and Blinn College continue to have record enrollments. All of these facts point to the bright future of Bryan/College Station rental properties.

Please contact me at your convenience to schedule a face-to-face discussion about the Bryan/College Station Multifamily Market. Allow me to demonstrate how you can put our extensive knowledge, experience and expertise to work; to add value to your acquisition or disposition.

Rick Lemons

Senior Broker Associate - Multifamily Group c 979.255.1950 rick@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

19

Commercial Quarterly 3rd Quarter 2009

Featured Multifamily Properties 1831, 1833, 1835 Wilde Oak | Bryan

Sprucewood Duplexes | Bryan

For Sale

For Sale

1

2

Six Units • Convenient To Texas A&M • Historical High Occupancy • Bike To Campus • Fenced Yard • Located In The Popular Johnson Elementary Attendance Zone

20 Units • W/D Connections • Fully-Equipped Kitchens • Central A/C • Ceiling Fans • Fenced Yards • Individually Metered

So Ho Lofts | Bryan

Rock Hollow Loop Duplexes | Bryan

For Sale

For Sale

3

20 Units • Convenient To Texas A&M • On TAMU Bus Route • Fully-Equipped Kitchens • W/D Included • Bike To Campus • Polished Silver Fixtures

4

18 Units • W/D Included • Fully-

Equipped Kitchens • Central A/C • Ceiling Fans • Fenced Yards • Individually Metered

RECENT TRANSACTIONS For More Information Contact:

Rick Lemons

Senior Broker Associate Multifamily Group p 979.268.2000 f 979.846.7020 c 979.255.1950 rick@OldhamGoodwin.com

20

Oldham Goodwin represented the seller in the disposition of a community of Five Four-Plexes near Texas A&M University

Oldham Goodwin represented the buyer in the acquisition of a 134 Unit, Student Oriented Apartment Complex

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Multifamily Properties Grey Wolf Trail Duplexes | College Station

300 Ayrshire | College Station

For Sale

For Sale

5

21 Units • Sloped, Nine Foot Ceilings • Fully-Equipped Kitchens • HollywoodStyle Bath With 2 Vanity Areas & 2 Sinks • Ceiling Fans • Fenced Yards

6

Historic Southgate Neighborhood • Walk To TAMU & Kyle Field • W/D Connections • Fenced Yards • Claw Foot Tubs • Slate Countertops • Polished Silver Fixtures

3907 Aspen | Bryan

For Sale

7

Popular Northgate Neighborhood • Near TAMU Bus Route • Walk To TAMU • Fenced Yards • Convenient To Texas A&M & Blinn College

RECENT TRANSACTIONS For More Information Contact:

Rick Lemons

Oldham Goodwin represented the buyer in the acquisition of a 112 Unit Apartment Complex

Oldham Goodwin represented the seller in the disposition of a 3 Bed/2 Bath Duplex in College Station

Senior Broker Associate Multifamily Group p 979.268.2000 f 979.846.7020 c 979.255.1950 rick@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

21

Commercial Quarterly 3rd Quarter 2009

Featured Multifamily Properties 2223

6

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Bryan

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

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979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Development Slowing With Lender’s Strict Criteria It’s no secret that the real estate development industry and its professionals have felt pressure from the tightening economy. Fewer new projects have forced many national development firms to lay off capable, experienced and successful managers. Closer to home, smallto-medium sized developers have trimmed their own incomes and have reduced staff in order to stay afloat.

Despite this downturn, some developers are weathering the storm surprisingly well. This article focuses on those developers and their keys to sustainable success.

So what deals are getting done and how are these developers doing it?

The answer is three-fold. First, successful developers are building products backed by strong market fundamentals. Gone are the days of aggressive pro forma rent growth and crazy reversion (sales price) appreciation. Developers must prove that the rents paid in the market today will justify the project investment now. They trim soft costs and hard bid projects. Their projects show strong cash flow at current market vacancy and don’t depend solely on a massive lump sum payment at the future sale. They’re also using current, accurate occupancy data to show that demand for the product type exists now (in lieu of anticipated demand

are effectively communicating this through clear and concise equity and debt packages.

Second, and typically the most difficult, successful developers are securing competitive debt financing.

Forget the days of 75% or greater loan-to-values on speculative projects. Developers are ensuring their projects cash flow at 60-65% loan-to-cost scenarios and have strong (35% plus) pre-leasing with healthy tenants. Lease terms depend on the sub-market and product type, but most importantly the tenants are financially solvent and willing to prove it. If a tenant won’t show his financials, chances are the bank won’t credit the project with that lease. Minimum debt service coverage ratios are 1.25. Interest rates are still competitive, but know that they will increase as Wall Street and Main Street lead recovery and inflation increases. Successful developers are creative with existing debt partners and prepared to build relationships with new lenders with healthy balance sheets.

Third, these developers are bringing serious equity to their deals. While many investors were burned by Wall Street, they remain leery of investing in all asset classes, including real estate. Investors will demand a deep understanding of project assumptions. Successful developers are conservative yet realistic and willing to explain in detail the project and its projected operating performance. Finally, these developers know who they are competing with for equity capital and are prepared to sell the benefits of their project over another development deal or auction-rate acquisition.

It’s clear that the market downtown has reduced the number of people involved real estate development, but successful and truly professional developers continue to create value and generate wealth despite market challenges.

Jesse C. Durden

based on market or job growth). They are proving that the current and under-construction supply will unquestionably not quench the market’s thirst. Finally, they

Senior Sales Associate - Site Selection Group c 979.492.0425 jesse@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

23

Commercial Quarterly 3rd Quarter 2009

Featured Development Properties Boonville Town Center-Tract A | Bryan

Boonville Town Center-Tract B | Bryan

For Sale

For Sale

1

2

Planned Commercial Development Ideal For Restaurant • Exceptional Location & Visibility • Next To New IHOP • ~70,000 Vehicles Per Day On Highway 6

Planned Commercial Development Ideal For Retail Or Bank • Exceptional Location & Visibility • Architectural Controls • Great Neighborhood Corner

Boonville Town Center-Tract C | Bryan

Boonville Town Center-Tract D | Bryan

For Sale

For Sale

3

Planned Commercial Development Ideal For Restaurant • Exceptional Location & Visibility • Great Value On Interior Lot • Deed Restrictions

4

Planned Commercial Development Ideal for Hotel or Mixed Use • Exceptional Location and Visibility • Across From Five -Story, 100 Room, Best Western Atrea

RECENT TRANSACTIONS For More Information Contact:

Jesse C. Durden

Senior Sales Associate Site Selection Group p 979.268.2000 f 979.846.7020 c 979.255.1950 jesse@OldhamGoodwin.com

24

Oldham Goodwin represented the buyer in the acquisition of a ~1.2 AC Commercial Property on IH 610 in Houston

Oldham Goodwin represented the seller in the disposition of a ~1.86 AC tract for Hospitality Development

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Development Properties Boonville Town Center-Tract E | Bryan

Boonville Town Center-Tract F | Bryan

For Sale

For Sale

5

6

Planned Commercial Development Ideal For Restaurant/Hotel/Retail/Mixed Use • Exceptional Location & Visibility • Architectural Controls • Deed Restrictions

Planned Commercial Development Ideal For Restaurant or Retail • Exceptional Location & Visibility • ~70,000 Vehicles Per Day on Highway 6

~120 AC in Washington County | Brenham

~6 AC on Associates Avenue | College Station

For Sale

For Sale

7

Outstanding Development Potential • Adjacent To BNSF Rail • Strong Rail Spur Potential • Industrial Neighbors/Zoning • Potential for R & D Facility

8

Commercial Development • Quick Access To Highway 30 & SH 6 • Office/Warehouse Users • Preliminary Site Plan & Master Preliminary Plat Created

RECENT TRANSACTIONS For More Information Contact:

Jesse C. Durden

Oldham Goodwin represented the seller in the disposition of a ~1.27 AC tract to an IHOP Franchisee

Oldham Goodwin represented the seller in the disposition of a ~1.57 AC tract to Walgreens

Senior Sales Associate Site Selection Group p 979.268.2000 f 979.846.7020 c 979.255.1950 jesse@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

25

Commercial Quarterly 3rd Quarter 2009

Featured Development Properties 2223

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Boonville Town Center

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

26

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Office & Industrial Leasing Up From Previous Year The Bryan/College Station office and industrial leasing market has not experienced the downturn in the economy as substantially as markets in other U.S. cities.

Nationally, and even regionally, commercial leasing has become much more complex due to the difficulty of obtaining financing, decreased consumer spending and job losses. These factors have forced existing businesses to either go out of business or downsize dramatically, as well as preventing many new businesses and startup ventures from forming.

These short term leases reduce their overhead in the short-term but don’t provide long-term stability that a growing company needs.

We have also seen an increased demand for executive suites as business owners have looked to cut expenses by sharing a receptionist, conference rooms, bathrooms, etc with other business owners. In addition, many businesses who have had their office out of their home are now taking the opportunity to secure an office at a price that they could not have a year or two ago.

Locally, however, office and industrial leasing has remained strong through the first two quarters of 2009.

Companies are focusing on downsizing their spaces from previous terms or expanding. The companies that are expanding are doing more with less people. By having employees take on extra roles and duties, business owners are able to continue to grow their business without upgrading their spatial requirements. However, companies that need to downsize due to economic concerns are doing so by taking shorter term leases.

If your business is looking for the opportunity to find a better location for your growing business or looking to save costs by downsizing, please allow me to offer our services to you. My team is committed to providing our clients the highest level of representation and service available, as well as the best results possible. Please call me for a free assessment/consultation of your needs today. I would greatly appreciate the opportunity to speak with you

Travis Fincher

Leasing Associate c 713.444.9326 travis.fincher@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

27

Commercial Quarterly 3rd Quarter 2009

Featured Office Lease Properties 117 Royal | Bryan

Williamsburg at Park Hudon | Bryan

For Lease

For Lease

1

2

Available Space: ~1,725 SF • One Mile From Texas A&M University • Centrally Located Within Bryan/College Station • Ready For Immediate Occupancy

Located In Park Hudson • Adjacent To Adam Plaza & Crescent Pointe • Customizable Floor Plan • ~3,984 SF Available

424 Tarrow | College Station

United Plaza | College Station

For Lease

For Lease

3

Located In Chimney Hill Business Park • Convenient To University Drive & TAMU • Available Space: ~260 SF

4

Centrally Located Within Bryan/College Station • Small To Mid-Sized Suite Configurations • Within ~1.5 Miles Of Texas A&M University

RECENT TRANSACTIONS For More Information Contact:

Travis Fincher

Leasing Associate p 979.268.2000 f 979.846.7020 c 713.444.9326 travis.fincher @OldhamGoodwin.com

28

Oldham Goodwin represented the landlord in the lease for Laraby Financial at Oxford Court

Oldham Goodwin represented the landlord in the lease for the U S Government at Southwood Business Center

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Office Lease Properties Daniel Stark Building | Bryan

Executive Office Plaza | Bryan

For Lease

For Lease

5

6

Centrally Located In Historic Downtown Bryan • Within 300 Ft Of A Major Fiber Network Intersection • Within 4 Miles Of Two Collegiate Institutions

One Mile From The Briarcrest Exit Off Highway 6 • Within 2 Miles Of Both TAMU Main Campus And Blinn College • Centrally Located

Prosperity Bank Building | College Station

Oxford Court | College Station

100% Leased

For Lease

7

Prime Location On Hwy 6 • Near College Station Medical Center • ~4 Miles From TAMU • Range Of Available Spaces: ~259 - ~3,446 SF

8

Executive Style Office Suites • Located Along Hwy 40 Near Castlegate & Castlerock Subdivisions • ~1 Mile From Hwy 40/Hwy 6 Intersection

RECENT TRANSACTIONS For More Information Contact:

Travis Fincher

Oldham Goodwin represented the landlord in the lease for C. E. Borman & Associates at Star-Tel Tower

Oldham Goodwin represented the landlord in the lease for At Home Properties at Park Place Plaza

Leasing Associate p 979.268.2000 f 979.846.7020 c 713.444.9326 travis.fincher @OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

29

Commercial Quarterly 3rd Quarter 2009

Featured Office Lease Properties Southwood Business Center | College Station

Southwood Plaza | College Station

For Lease

For Lease

9

10

Central Location To Thriving Commercial And Residential Growth • Vast Traffic Flow From Texas Avenue • ~400 Ft Of Frontage On Hwy 6 • Available Space: ~1,268 SF

Anchored By Proposed Super Walmart Of College Station • Great Access To The Center With Entrances On Longmire & Texas Avenue • Available Space: ~1,200 SF

Star Tel Tower | Bryan

Texas Enterprise Bank Building | Bryan

For Lease

For Lease

11

~1.5 Miles From St Joseph Regional Health Center & ~1 Mile From Blinn College • Range of Available Spaces: ~ 1,500 - ~6,000

12

Superior Construction • Near Traditions Golf Course • Near Future Texas A&M Health Science Center • Range of Available Spaces: ~465 - ~3,685 SF

RECENT TRANSACTIONS For More Information Contact:

Travis Fincher

Leasing Associate p 979.268.2000 f 979.846.7020 c 713.444.9326 travis.fincher @OldhamGoodwin.com

30

Oldham Goodwin represented Spherion (the tenant) in the lease at North Park Plaza

Oldham Goodwin represented the landlord in the lease for Start Hill Real Estate at Oxford Court

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Office Lease Properties The Emporium | College Station

University Park Plaza | College Station

For Lease

For Lease

13

14

Easily Accessed From Anywhere Within Bryan/College Station • Located Along Highway 6 • Great For A Small To Medium Business

Centrally-Located • High Traffic Counts • Dynamic Growth Area • Range Of Available Spaces: ~3,000 - ~9,000 SF

Wolf Pen Ridge | College Station

Bryan Medical Center | Bryan

For Lease

For Lease

16

15

~1 Mile From Texas A&M University • One Block From Wolf Pen Creek Amphitheater & Park • Range Of Available Spaces: ~1,000 - ~3,524 SF

High Quality Medical Building Adjacent To St Joseph Regional Hospital • Energy Management Systems And Key Card Entry • Covered Parking • Range Of Available Spaces: ~3,000 - ~9,000 SF

RECENT TRANSACTIONS For More Information Contact:

Travis Fincher

Oldham Goodwin represented Willstaff Worldwide (the tenant) in the lease at University Park Plaza

Oldham Goodwin represented the landlord in the lease for Moore Militaria at 12777 Hwy 30

Leasing Associate p 979.268.2000 f 979.846.7020 c 713.444.9326 travis.fincher @OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

31

Commercial Quarterly 3rd Quarter 2009

Featured Industrial Lease Properties 206 N. Sims | Bryan

12761 State Highway 30 | Bryan

For Lease

For Lease

17

~8,000 SF Commercial Building • Located Two Blocks From Downtown Bryan • Security System • Chainlink Fenced Yard With Access Gate

18

Available Lease Space: ~1,900 SF • Two Roll Up Doors • Fenced Yard Space • Paved Parking • Built in 2005

RECENT TRANSACTIONS For More Information Contact:

Travis Fincher

Leasing Associate p 979.268.2000 f 979.846.7020 c 713.444.9326 travis.fincher @OldhamGoodwin.com

32

Oldham Goodwin represented Crossroads Living Health Clinic (the tenant) in the lease at United Plaza

Oldham Goodwin represented the landlord in the lease for Todd McIlhaney Architecture at Oxford Court

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Office & Industrial Lease Properties 2223

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

979.268.2000 • www.OldhamGoodwin.com

33

Commercial Quarterly 3rd Quarter 2009

Uncommon Concessions Used For Tenant Recruitment The Bryan/College Station retail market is experiencing many changes in the negotiation of leases. Landlords in many markets have begun offering uncommon concessions for small to medium sized national and regional retailers. These concessions are offering many unprecedented opportunities for entrepreneurs and franchisees entering the market.

Concessions have become a bargaining chip to recruit potential tenants for landlords and developers. These could include slicing up a big box into smaller spaces for smaller tenants, the use of rent abatements and even pursuing uses that leave the retail sector altogether. Uses of these tactics allow landlords flexibility in retaining and recruiting local, regional and national tenants.

Once again Texas is leading the leading the nation in retail leasing. Texas is the right choice for retailers

litigation environment that ranks tenth on our list,” the magazine reported. “Texas also ranks first in the number of Fortune 500 companies located there.” (Source: Forbes Magazine).

While the current economic forecasts leave most retailers looking for ways to reduce their means, Texas and the Brazos Valley in particular continue to offer solid growth, low unemployment and tax incentives that continue to foster expansion and development.

If your business is looking for the opportunity to find a better location or looking to save costs by downsizing, please allow me to offer our services to you. My team is committed to providing our clients the highest level of representation and service available, as well as the best results possible. Please call me for a free assessment/consultation of your needs today.

Robert J. Young

Director of Commercial Leasing - Senior Broker Associate c 979.324.1717 robert@OldhamGoodwin.com

across the nation because “Texas stands out as the top state for business” (Source: Directorship Magazine).

Texas “has a pro-business tax climate that ranks third, a low cost of living, a relatively solid economy and a

34

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Retail Lease Properties University Shopping Center | College Station

Market Square Shopping Center | Brenham

For Lease

For Lease

1

2

Big Box Availability • Over 600 Feet Of Frontage Along Texas Avenue • Less Than 1/2 Mile From TAMU • Five Points Of Access Off Of Three Major Thoroughfares

Big Box Availability • Less Than 1 Mile From Hwy 290 • Less than 3 miles from Blue Bell Creameries • Range of Available Spaces: ~2,000 - ~38,046 SF

Crossroads Retail Center | College Station

Longwood Crossing | Pearland

For Lease

For Lease

3

Total Capacity: ~18,000 SF • Range Of Available Spaces: ~1,000 - ~10,000 SF • Centrally Located In College Station With Quick Access To Highway 6

4

~3.5 Miles From Silverlake, A 3,500 Home Residential Development • ~5 Miles From The 288/518 Intersection • Range Of Available Spaces: ~2,200 SF

RECENT TRANSACTIONS For More Information Contact:

Robert J. Young

Oldham Goodwin represented the landlord in the lease for Daylight Donuts/ Fratello’s at Brookhaven Retail Center

Oldham Goodwin represented Elements Therapuetic Massage (the tenant) in the lease at Bryan Towne Center

Director of Commercial Leasing Senior Broker Associate p 979.268.2000 f 979.846.7020 c 979.324.1717 robert@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

35

Commercial Quarterly 3rd Quarter 2009

Featured Retail Lease Properties Plazas at Rock Prairie | College Station

Post Oak Square | College Station

For Lease

For Lease

5

6

Range Of Available Spaces: ~1,000 - ~5,040 SF • Four Miles From TAMU • High Daytime Population • Southern “Gateway” Of College Station

Range of Available Spaces: ~1,430 ~12,600 SF • Competitive rental rates and build-out allowance • Restaurant space available • Adjacent to Post Oak Mall

Shops on Texas | College Station

Freedom Center | Bryan

For Lease

For Lease

7

Available Space: ~1,594 SF • Dynamic Growth Area • Central Location With High Traffic Counts • Great Visibility And Access On Texas Avenue

8

Close Proximity To TAMU & Blinn • Adjacent To The Walmart Supercenter, Chick-Fil-A & Wells Fargo Office Building • Available Space: ~1,540 SF

RECENT TRANSACTIONS For More Information Contact:

Robert J. Young

Director of Commercial Leasing Senior Broker Associate p 979.268.2000 f 979.846.7020 c 979.324.1717 robert@OldhamGoodwin.com

36

Oldham Goodwin represented the landlord in the lease for Shipwreck Grill at 206 E Villa Maria

Oldham Goodwin represented the landlord in the lease for Bea’s Bridal at Post Oak Square

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Featured Retail Lease Properties Park Place Plaza | College Station

Southwest Crossing | College Station

For Lease

For Lease

9

10

Convenient Community Retail Center • Great Visibility & Access On Southwest Pkwy & Texas Ave • Range Of Available Spaces: ~1,161 - ~10,956 SF

~8,000 SF Pad Site Available • Located In The Center Of The Most Densely-Populated Student Area In College Station • Located Less Than ½ A Mile From TAMU

Brookhaven Retail Center | Bryan

West Wind Shopping Center | Lubbock

For Lease

For Lease

11

~5 Miles From TAMU • ~1.5 Miles From Miramont Country Club • Range Of Available Spaces: ~1,500 - ~2,100 SF • Rapid Population Growth & Business Development Within The Area

12

~3.6 Miles From Texas Tech University & ~2 Miles From Lubbock Christian University • Range Of Available Spaces: ~1,243 ~1,952 SF • Great Visibility From Loop 289

RECENT TRANSACTIONS For More Information Contact:

Robert J. Young

Oldham Goodwin represented the landlord in the lease for Haix North America at Southwest Crossing at Bee Creek

Oldham Goodwin represented the landlord in the lease for BIG LOTS! at University Shopping Center

Director of Commercial Leasing Senior Broker Associate p 979.268.2000 f 979.846.7020 c 979.324.1717 robert@OldhamGoodwin.com

979.268.2000 • www.OldhamGoodwin.com

37

Commercial Quarterly 3rd Quarter 2009

Featured Retail Lease Properties 2223

6

1179 190

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This map is a rendering of Bryan & College Station city limits and does not accurately show city limits. This map is not to scale and all property locations are approximate.

38

979.268.2000 • www.OldhamGoodwin.com

Commercial Quarterly

3rd Quarter 2009

Management Division Profile Management Division Profile Who We Are The Oldham Goodwin Group’s management services are part of a comprehensive turnkey solution for any Retail, Office, Multifamily, Industrial or Hospitality owner. We strive to provide asset and property management services to improve efficiency and flexibility for our Clients. By offering a complete range of management services including Asset Management, Property Management, Advisory/Consulting Services, Construction Management and Real Estate Owned (REO) Workout/ Management Solutions, The Oldham Goodwin Group is structured to ensure your investment is maximized at every stage of the process. With a strong focus on customer service, our team works closely with you to identify and execute strategies to improve performance and yield quantifiable results.

Your asset is the foundation of our business; we will make sure you are satisfied with our services. In order to deliver on that commitment, our professional management divisions feature Dedicated Asset Managers, Property Specialization, Innovative Technology, and Transparency and Accountability.

Dedicated Asset Managers Oldham Goodwin’s management divisions are designed to provide professional and dedicated asset management services.

Our asset managers are not asked to broker and/or develop properties on their own, on top of managing assets. Instead, they work in tandem with our specialized brokerage and development professionals and deliver operational feedback and strategies. This level of integration provides tremendous value to our Clients.

Property Specialization Oldham Goodwin’s asset managers specialize in one of three classifications of real estate management: Multifamily, Hospitality, and Commercial (consisting of Retail, Office and Industrial). This specialization allows our asset managers to excel in their area of specialization, thus providing our Clients with an unmatched level of expertise and experience.

Innovative Technology The Oldham Goodwin Group utilizes advanced property management, accounting, collaboration and marketing technology to deliver quantifiable results for our clients. Through innovative technology, we are able to leverage seamless integration, best practices, and robust reporting to deliver enhanced operational efficiency and real results at the property level.

Transparency and Accountability Oldham Goodwin’s management services are geared to maximize the return on our client’s investment. Our asset managers are focused on key performance indicators to gauge asset performance. We take our fiduciary responsibility very seriously and believe it is of the utmost importance to provide our clients with transparency and accountability at every turn.

Sample Managed Properties

River Village Marriott

Brazos Point Apartments

Southwest Crossing at Bee Creek

For More Information About These Services, visit www.OldhamGoodwin.com.

809 University Drive East, Suite 101A

979.268.2000 • www.OldhamGoodwin.com College Station, Texas | 77840

39

Commercial Quarterly 3rd Quarter 2009

“Accessible Knowledge & Reliable Expertise” Rick Lemons

Multifamily Group

Clinton D. Oldham

Senior Broker Associate

Commercial Group Senior Sales Associate

Rick’s background encompasses over 20 years of hospitality and property management experience with Aramark, Pappas Restaurants, Inc. and Oldham Goodwin. Since 2004, he has managed and operated the multifamily division of Oldham Goodwin. As a commercial real estate broker, Lemons has listed and sold numerous multifamily and single family properties to local and national investors.

C 979.255.1950 | rick@OldhamGoodwin.com

Clint represents our private investment and corporate clients in the acquisition and disposition of Retail, Office and Industrial real estate. In addition to buyer and seller representation, Clint’s experience includes project leasing, tenant representation, as well as investment and financial analysis. Clint’s broad range of experience in the local commercial real estate market has made him a valuable asset to clients seeking to acquire or dispose of their assets.

Vernie D. Bodden, III

Land Group

Jesse C. Durden Site Selection Group

Senior Sales Associate

Development Manager, Sales Associate

C 409.781.7734 | clint@OldhamGoodwin.com

Vernie’s background in the ranching industry has enabled him to build a broad base of knowledge in rural land, both from an operational and valuation perspective. Vernie has used these principals to broaden his scope of knowledge to include the commercial realm. As a result, he has been able to represent some of the states largest retail and hospitality developers.

C 979.777.4641 vernie@OldhamGoodwin.com

Jesse specializes in development and site selection for TOGG. Jesse’s experience includes commercial development and construction, as well as real estate investment analysis. Prior to his arrival at Oldham Goodwin, Jesse worked with Austin Commercial in Dallas and Caldwell Companies in Houston.

C 979.492.0425 | jesse@OldhamGoodwin.com

Robert J. Young

Travis M. Fincher

Leasing Division Senior Leasing Associate

Leasing Division Leasing Associate

Over the last 4 years, Robert has focused on increasing his understanding of the B/CS real estate market, the emerging trends that affect the city, county, and state, and the commercial real estate growth indicators that real estate experts use to predict the future of the local market.

Robert strives to deliver the highest levels of client services available.

C 979.324.1717 robert@OldhamGoodwin.com

Travis graduated from Texas A&M where he excelled at marketing and property evaluation.

He was intimately involved in real estate transactions from a young age working with his family members in the Houston market. Previously he held a job with The Staubach Company in Houston where he assisted in market research.

C 173.444.9326 travis.fincher@OldhamGoodwin.com

Daniel Powell

Erin Sissell

Sales Division Sales Coordinator, Associate

Daniel coordinates sales marketing and transaction efforts as well as assists executives with brokerage strategic initiatives. Daniel is known by his peers as highly organized and extremely knowledgeable of brokerage services.

C 979.575.2551 | daniel@OldhamGoodwin.com

Leasing Division Leasing Coordinator, Associate

Erin coordinates leasing marketing and transaction efforts as well as assists executives with brokerage strategic initiatives. Erin is Oldham Goodwin’s Ambassador to the Bryan/College Station Chamber of Commerce. In addition she was also a former member of the Real Estate Development Association at Texas A&M. C 254.592.2615 | erin@OldhamGoodwin.com

809 University Drive East, Suite 101A College Station, Texas | 77840 T 979.268.2000 | F 979.846.7020 www.OldhamGoodwin.com