April 2016 magazine cbr issue by RE Journals

APRIL 2016

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

All About Arlington The American Dream City

Environmental Mitigation Taking It To The Bank

Investing in Industrial How Texas Cities Are Booming

Interview with

Uptown Houston District John Breeding

Mike Hill

Âą35 GROSS ACRES Kristen McDade +1 713 577 1808 kristen.mcdade@cbre.com

GALVESTON, TEXAS For more information about the property, please see page

NWC and NEC FANNIN & ELGIN HOUSTON, TEXAS

IN THE HEART OF MIDTOWN

$4,000,000 BOTH TRACTS TOGETHER

TRACT 1 v ±17,122 SF building (built 1974), situated on ±17,001 SF of land, located on the NWC of Fannin & Elgin (3100 Fannin, Houston, TX 77004) v

Includes one curb cut on Elgin, one curb cut on Fannin and one curb cut on Rosalie

Approximately 16 parking spaces on ground level beneath building

Frontage: ±195’ on Fannin, ±75’ on Rosalie and ±100’ on Elgin

TRACT 2 v ±20,003 SF of land v

Includes one curb cut on Fannin, one curb cut on Rosalie, one curb cut on Elgin

Frontage: ±195’ on Fannin, ±95’ on Rosalie and ±95’ on Elgin

Kristen McDade +1 713 577 1808 kristen.mcdade@cbre.com

CONTENTS

Market

Sales & Leases 1 – 3, 5, 7–9, 13, 15, 17, 19, 21, 24-27, 29

Services

Environmental Services 30 Land Servicing 44 Legal Services 41

Scoop

Events 28, 32, 34, 36 Social 33, 35, 37 Bulletin 38–40

Features

Investing in Industrial 10–12 All About Arlington 22–23 CIVIL FAIR PLAY Environmental Mitigation 14–16 RAY'S BUZZ Uptown Houston District 18 Interview with Mike Hill 20 CCIM Forecast Competition 24 O’Connor & Associates - Apartment Forecast 24

April 2016

Photo Credit: Courtesy: City of Arlington

±35 GROSS ACRES BEACHFRONT GALVESTON, TEXAS PROPERTY HIGHLIGHTS

v South side of Highway 3005 (San Luis Pass Rd.), between 7 1/2 and 8 Mile Roads, in Galveston, Texas v ±35 gross acres available (±13 acres usable) v Over 1,000’ of continuous Private Beach v

The property is benefitting from the coastal drift from the over 725,000 cubic yards of beach quality sand placed along the Seawall between 61st and 81st St., and along the west end of the seawall at Dell Arena Park, as part of Texas GLO and USACE-Galveston and Galveston Park Board beach renourishment project.

v $20.00 PSF, net usable north of the mean hightide (Gross and net acreage to be determined by survey) Kristen McDade

+1 713 577 1808 kristen.mcdade@cbre.com

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITER

Janis Arnold janisarnold1@gmail.com Brandi Smith info@REDNews.com

Dear Readers,

Daylight saving time (DST) is here and spring has officially begun according to the calendar.

I just returned from Arizona, one of the few states that does not observe DST, which led me to “google” DST. It seems that the time change originated in Germany during WWI for the purpose of energy conservation and was introduced in the US shortly thereafter. This led to a “chaos of clocks” for many years in the US until the 1966 Uniform Time Act was enacted and states had the option of participating. Unfortunately, numerous studies have not proven the theory of saving day light and energy at the same time.

I hope the first quarter of 2016 has been a good one for all of you and you’re anticipating more going forward. From my bench seat, I’m seeing and hearing about the deals you are doing and it’s business as usual. Remember to “thank your lucky stars you live in Texas”!

CONTRIBUTING WRITER

Ray Hankamer rhankamer@gmail.com

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

DIGITAL/MARKETING DIRECTOR Tony Nelson digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

SALES

Ginger Wheless ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

REDNews is directly mailed each month to commercial real estate brokers, investors & developers.

We’re looking forward to ICSC Las Vegas coming up next month and seeing all of you retail brokers there. Don’t forget to pack your comfortable shoes. Happy April!

Best Regards,

Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387

Ginger Wheless

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

April 2016

660+ Acres 30 Minutes East of Downtown (Old Hwy 90 @ San Jacinto River)

$4,130,000 W/POSSIBLE OWNER FINANCING

10%

Broker Commission (Owner/Seller is not a realtor)

Possible Owner Financing Available

Subject Property

BEAUTIFUL, HUGE RECREATIONAL TRACT • Miles of San Jacinto River frontage • Heavy Timber/Multiple (7+) deep lakes • MUD District Available Baytown

MASSIVE UPSIDE AS AN RV TRAILER PARK FOR PLANT WORKERS CENTERED NEAR BAYTOWN, PASADENA, MT. BELVIEU The Port of Houston

Mitch Zarsky@yahoo.com 713-825-0728

April 2016

W * Minutes from Deerbrook Mall & Big Box Stores * Single & Multi-family, Medical & Financial nearby * Close to Airport and I-59 * Accessible from FM 1960 & Humble Westteld

* Lighter Arena, Announcer’s Stand, Multiple Barns * Unrestricted Working Horse Facility * Oﬃce & 4 bd, 4.5 bth House on site * Walker, Chutes, Shop, Hay barn, Fenced, X-Fenced

* 225 ft Hwy 290 Frontage, 490’ Depth * 4 Separate Buildings - Currently Showroom Set Up * Potential Retail, Oﬃce/Showroom, Specialty Use * Total 4,404 Building Sq Footage. Parking. Fenced,

* Close to Downtown Tomball Grand Pkwy, 249 * Current Survey Available * Great Residential Development Potential. * Unrestricted. Will subdivide.

* Dallas Suburban Community * Close to Hwy 175. Access from CR 4104, 4106 & 4116 * Water service available through existing easement * 27 mi to Downtown Dallas.

* 1,125 ft Hwy 6 Frontage. Unrestricted. * College Station to Houston Route * AG Exempt. Gated. Fenced, X-Fenced. * Home/Oﬃce, Barn, Arena, Storage & Pond

* Equestrian Facility - All New Construction * 16 Stall Barn, Oﬃce, 130 X 70 Arena, Round Pen * Vet Lab, Palpatation/Insemination Chute, Barn Bath * Unrestricted. Cleared. Fenced & X-Fenced.

* Close to Memorial Hermann Northeast & Rehab * Behind Multiple Car Dealerships * Easy Access to Intercontinental Airport * Unrestricted. Close to I-59, Will Clayton Pkwy, FM 1960

* 339 ft FM 1488 Frontage. Elec 120/208 Compliant * 75 X 60 Warehouse w 18’ Ceiling. 56 X 20 Storefront * 1300 SF oﬃce w Data Hub, Kitchen, Reception * Storage, Parking, Climate Controlled Kennels

* Unrestricted. 4 miles south of 290. * Currently AG Exempt for Hay Production. * Pastures. Fenced. Great Building Site. * Survey Available,

* Unrestricted Ranch with Cattle Set Up * Two Barns, Lighted Roping Arena, Two Ponds * Gated, Fenced, X-Fenced * Custom Estate Home w 4 beds, 3.5 baths

* Two lots in Gated Equestrian Community * AG Exempt. Barn and Well in place. * Restricted. 26,000 sf Community Arena. Trails * Access from Two Roads,

April 2016

Project Endurance - Courtesy: Greater San Marcos Partnership

Investing in Industrial: How Texas Cities Are Booming BY BRANDI SMITH

Though most headlines tend to focus on the negative impact of low crude prices, Texas has diversified in such a way that a single industry’s slump cannot create a statewide recession as it has in the past. Instead, communities throughout the Lone Star State are flourishing, thanks to new opportunities provided by the industrial sector. “Even in what looks like an adverse scenario, you still get some positive and pretty good job growth,” said Robert W. Gilmer, Ph.D., director of the Institute for Regional Forecasting at the University of Houston Bauer College of Business.

What’s happening in Houston?

Despite those historically crude low prices and layoffs within the energy sector, Houston’s economy isn’t suffering like it did in the 1980s. Instead, another branch within the energy field is helping prop up Texas’ largest city. 10

April 2016

“We actually have a major energy boom underway on the east side of town,” Gilmer said. “It really very much depends on where you're working and where you're living right now.” While upstream companies are getting nailed by low prices, the downstream petrochemical industry is thriving because of them.

“In North America, we make plastic with natural gas liquids: butane, propane and especially ethane,” Gilmer explained. “These are priced very much like natural gas, which is cheap compared to oil.” The result is more than $50 billion in oil-industry construction in east Houston, creating thousands of jobs in the process.

“This construction could not be better timed as a counter to mounting layoffs from the drilling collapse,” said Gilmer. The plastics produced as a result of the eastside construction are helping buoy the Port of Houston, home to the largest petrochemical complex in the United States. More than 200 million tons of cargo travels through the greater Port of Houston each year, about a third of which is plastics.

“Further expansion of plastics exports is expected in the coming year as a major wave of new polyethylene production facilities in our region come online,” said Ricky Kunz, chief commercial officer of the Port of Houston Authority. “Chemical imports and exports are another large volume driver for the Port of Houston container terminals, and they also performed well in 2015 despite the weak crude oil price.”

“This construction could not be better timed..., says Gilmer. The port is also keeping an eye on warehouse construction in its core area: La Porte, Deer Park and Pasadena. The latest announcement comes from AGRO Merchants Group, which plans to build a refrigerated 300,000 square-foot cargo facility at the Port of Houston Authority’s Bayport Container Terminal.

To bring in even more projects, the Port Authority created an Economic Development department as a way to “ to support portoriented development activities.”

Grayson College

“In particular, the Economic Development department’s goals are to attract more import/export-oriented manufacturing and more import/export-oriented distribution centers to the region,” Kunz said. “Any interested parties, including industrial developers and industrial brokers, should reach out for more details.”

Petrochemicals and the port are just examples of the industrial growth underway in Houston, which may be Texas’ slowest growing economy in 2016, but nearly every major city is experiencing something similar.

Walls up in Waller County

As the Houston area grows, so has development in what was once its rural neighbor, Waller County.

“Many people don't realize Katy is located within three counties: Waller, Harris and Fort Bend,” said Vince Yokom, director of the Waller County Economic Development Partnership. “The west side of Katy is expanding, so many of the developments coming our way will probably end up in the city of Katy, but they will be in Waller County, such as the proposed Pederson Road Business Park by Clay Development”

Alegacy site & logo - Courtesy: Alegacy

One project already well underway is the Alegacy industrial park, an 87-acre site situated along U.S. 290. Construction on its first phase began in November 2014 and

"It's unique," Yokom says. three buildings are now operational.

“That's probably the single largest industrial development we have going on in the county right now,” Yokom said. Two buildings totaling 100,000 square feet house Alegacy Equipment, while the third building, which is roughly 33,000 square feet, was just leased to Cordyne Inc., a diversified electrical supply and manufacturing company.

“[That building] was part of Waller County EDP’s spec building abatement program,” said Yokom.

The program is an incentive for speculative building, allowing qualified businesses to get up to 100 percent tax abatement for two years or until the building is occupied. “It's unique,” Yokom said of the program.

He predicted Alegacy is just the beginning of a new wave of industrial development in Waller County, especially since Daikin Industries Ltd. is opening up its $417 million campus just a few miles down the road. The heating, cooling and refrigerant manufacturer is building what will be one of the largest and most technically advanced facilities of its kind, generating up to 5,000 jobs.

“We are working with the City of Waller, the Greater Houston Partnership, Prairie View and Hempstead to attract Daikin vendors and suppliers to Waller County,” said Yokom. “Our proximity to their location should be attractive to any potential companies that work with Daikin and are considering relocating to the area.”

Demand in Dallas

Though hundreds of miles away and not nearly as reliant on the energy sector, Dallas is also experiencing a “deceleration,”

Mountain Creek map - Courtesy Courtland Development

according to Cushman & Wakefield.

The Dallas Fed reports that in January 2016, DFW added just 2,000 jobs. That number doesn’t tell the whole story, which varies by metro. Dallas saw a 2.6 percent increase in payroll enrollment, while Fort Worth dropped 3.9 percent. Those numbers aside, there continues to be strong demand in industrial. Last year, the area saw nearly 18 million square feet of industrial square footage absorbed and vacancy rates near historic lows.

The Dallas industrial boom can be attributed to the region’s position as “one of the major trade and distribution centers in the U.S.,” according to the Dallas Fed. “[Its] central U.S. location, pro-business environment, world-class international airport and its population of nearly 7 million lend itself to being a major logistics hub on a global scale,” CBRE said in its Q4 industrial report.

Nearly 20 million square feet of industrial space is currently under construction, including Kimberly-Clark’s new distribution center in the Mountain Creek business park. The 55-acre site will house an 874,214 square foot regional distribution center, which is scheduled to open soon.

In the same development, speculative warehouse construction appears to be paying off: Niagara Bottling just announced plans to lease a 630,00 square foot industrial building. Other tenants include Nestle Waters, American Leather, Strategic Partners and Cummins Southwest. Though Cushman & Wakefield reports warehouse vacancy rates are at a 15-year low across the U.S., 2016 could see a bit of a slowdown. April 2016

“The industrial sector does face significant headwinds going into 2016 related to the stronger U.S. dollar and slowing global growth,” Kevin Thorpe, Cushman & Wakefield’s chief economist, said in a January report. “The core of the U.S. remains solid enough to weather the storm, but demand for industrial space is expected to cool down this year.”

Shakin’ things up in San Marcos

Texas is home to many of the country’s fastest-growing cities, but San Marcos has claimed the top spot for three years in a row and there is no sign of slowing.

“We have roughly a thousand people moving to the state every day and a lot of those decide to come to the central Texas region,” said Adriana Cruz, president of the Greater San Marcos Partnership. “There are so many things in San Marcos and our surrounding communities that are attractive for these people who are coming here.” One of the keys to the city’s success has been a steady balance of skilled workforce with job creation.

“Since our formation we've announced 2,300 new jobs and more than $245,000,000 in capital investment,” Cruz said. “Last year alone we announced 1,400 of those new jobs and $225,000,000 in new investment.”

Roughly 1,000 of 2015’s new jobs will be at Amazon, which picked San Marcos as the site of its fifth Texas fulfillment center. The new 855,000 square foot facility is part of the company’s 2.3 million square foot property, a major coup for the Partnership.

"Having a brand name like Amazon select your community is just a great thing for us," says Cruz. “Having a brand name like Amazon select your community is just a great thing for us,” said Cruz. “It really helps to solidify our reputation as an up-and-coming community that people are taking a close look at.” Many more big announcements appear to be on the horizon for San Marcos and Hays County, as Texas State University churns out doctorals from its material science engineering and commercialization Ph.D. program.

“Those companies that are making carbon composites, polymers or the next generation of nanomaterials, are very interested in working with Texas State and its research capabilities,” Cruz said. “We're seeing a lot of interest on that end as well.”

Lone Star State leads the way

These are just a few examples of communities throughout Texas that are thriving as a result of years of careful planning and 12

April 2016

diversification. Despite obstacles, such as low crude prices, these areas have proven the strength and resiliency of our region.

“It's the next frontier,” said Yokom. “We're the pioneers. We're here. We're open for business. We're ready to rock and roll.”l

CCIM LUNCHEON SPEAKER: Real Estate - Port of Houston

R.D. Tanner, SR. Director-

Takeaway: R.D. Tanner had lots of positive news concerning the Port of Houston, reconfirming that the East Side is booming while the West Side of our metro area is experiencing some pain.

• The Port is an immensely complex operation, including dredging, pipelines, railroads, storage, container operations, bulk liquids transport, and much else

• The Port owns/controls 34 square miles of land and facilities (!), with $8.5 billion+ of market value…“controlling its own destiny”- this is not to say that commercial real estate brokers are not involved, since there are myriads of leases to many varied entities along the channel

• We have two weekly scheduled container services to China, and we own state of the art computer controlled loading/unloading cranes which speed up the turn-around of these massive vessels

• Our port is the largest general cargo facility in the world-all 52

miles of it-with containers now the ‘bedrock’ of the port’s trade-the container segment is turning record profits for the port

• We have taken a lot of business from West Coast ports and will take more once expanded Panama Canal is operational

• Our Port and related industries contribute 16% of the GDP of the

STATE of Texas…[Texas economy is roughly the size of Canada’s, so our port alone is 16% of entire Canadian economy]

• To handle the immense container ships under construction now, we would have to deepen and lengthen our ship channel eleven miles further out into the Gulf south of Galveston, since the continental shelf is so shallow-we need to stay competitive with ports which have naturally deep water

• 40% of America’s gasoline and 33% of its jet fuel are refined in and

around our port, so it is vital to keep the port accident-free and open

• Constant dredging is required to keep the waterway open, and this is done in cooperation with the Corps of Engineers

• Bulk liquid storage and bulk liquid handling is growing by leaps and bounds

• The Houston Maritime Museum is under development and it will be a major world-class museum

• We have a worldwide competitive edge in the manufacture and shipping of plastic resins

• There is huge export demand out of our port-our port is not pausing in its growth but increasing its growth

• 1,200 acres on Pelican Island belong to Port of Houston and new

vehicular and rail bridges are under development from Galveston Island to Pelican…

• The rail network on the north and south side of the channel is expanding

• 8,000 ships and 220,000 barges call on the port each year • Export of liquefied natural gas (LNG) is becoming more and more important to port

By Ray Hankarmer / rhankarmer@gmail.com

Experience the advantage of true connectivity at Park 8Ninety in Missouri City, Texas. Located at the intersection of Beltway 8 and US 90A, this master-planned business park offers one of Houston’s last opportunities for new, industrial construction with prominent Beltway frontage. Phase I Completion Scheduled for June 2016 • Three new buildings totaling 332,957 SF • Rear-load and front-load configurations • 28’ - 32’ Clear heights • ESFR Sprinkler systems Park Features • Freeport exemption • Build-to-suit and design-build options available on remaining 103 acres • Tax incentives from Fort Bend County and Missouri City available on a case-by-case basis For more information please contact: Alexander Reilly, CCIM, SIOR Bo Pettit 713.599.3448 713.599.3416 areilly@boydcommercial.net bpettit@boydcommercial.net

A Development of:

park8ninety.com April 2016

civil fair play

Environmental Mitigation: Taking It to the Bank BY BRANDI SMITH

In 2016, mitigation banking will celebrate its 33rd year as a tool to aid development and preserve the environment. Offered in all parts of the country, these banks can create opportunities and challenges for developers.

What is a mitigation bank?

In 1983, U.S. Fish and Wildlife helped create the first mitigation banks, which were primarily generated as environmental mitigation for state agencies, such as Departments of Transportation.

“Mitigation often takes the form of restoring degraded environmental resources, such as streams, wetlands or species habitat, to a condition that closely matches its natural, historic condition,” said Travis L. Hamrick, Restoration Systems’ vice president of its southwest division. Restoration Systems oversees more than 50 banks and restoration sites throughout the U.S., including the Katy Prairie Stream Mitigation Bank. A decade later, with assistance from the Environmental Protection Agency and U.S.

Corps of Engineers, programs were available to offset on-site and single-project, off-site compensatory mitigation. The banks received further support when they were mentioned in the White House Office of Environmental Policy's 1993 Federal Wetlands Plan and Intermodal Surface Transportation Equity Act of 1993.

“Mitigation banks [allow] developers to do what they do best, while we worry about the restoration process,” says Smith “Mitigation banks are tracts of land that an owner/sponsor has set aside to create, restore, or enhance aquatic resources on, such as wetlands, streams, or other special aquatic sites,” said Keith Morgan, natural resource group manager for Berg-Oliver Associates, Inc., which manages the Lower Brazos River Wetland Mitigation Bank.

It wasn’t until 1995 that the EPA, Corps and other federal agencies released the Federal Guidance on the Establishment, Use and Operation of Mitigation Banks, allowing the creation of state, local and private mitigation banks. Though they could be developed and maintained, banks were not the preferred method of environmental mitigation until 2008. As of August 2013, there were more than 1,800 mitigation banks in the United States, roughly 50 of which are in Texas, helping offset environmental impact for developers all over the Lone Star State.

How does it work?

“Mitigation banks provide the fastest and most cost effective way to receive a permit, allowing developers to do what they do best, while we worry about the restoration process,” said Preston W. Smith, VP of development and sales for Wildwood Environmental Credit Company, LLC, which operates more than 25,000 acres of mitigation properties across the southeastern U.S.

Say a developer has a tract of land on which he’d like to build, but there’s a chunk of

Continued on page 16

Courtesy: Restoration Systems

April 2016

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April 2016

civil fair play Continued from page 14

wetlands in the way. If the wetlands are subject to federal jurisdiction, a permit is required before they can be filled in or cleared, according to Wetlands Professional Services president Jim Coody. “As a condition of getting that permit, the developer must replace the wetlands that are lost when he builds his project,” said Coody. “That is wetland mitigation, which is replacing wetlands that are destroyed by development activities.”

"It’s really just the law of supply and demand," says Hamrick

The developer is then faced with a choice: create new wetlands on another part of the property or, depending on the type of wetlands being replaced, he can search out credits available at mitigation banks, the Corps’ preferred method.

The logic behind the proximity requirement ensures that wetlands native to particular climates and ecosystems will be maintained. However, those limitations are sometimes an obstacle for developers, looking for indemand or regionally unavailable credits.

“In the past, there have been situations in which you had a lot of mitigation banks with credits available, then you had situations where there were none,” Coody said. “For instance, when the Grand Parkway was being planned and permitted, the Grand Parkway Association bought up just about all of the available mitigation credits in the Houston area. There were none for a while.” That leaves developers with two options: maintain existing wetlands or rebuild them on another site.

mitigation costs depending on competition within watersheds.”

Just this past December, the Obama administration issued a Presidential Memorandum encouraging private investment in environmental mitigation, which may have a very significant impact on the market.

“I believe professional companies that operate at the national level will strengthen the overall quality of the work being done,” Hamrick said. “With more institutional money available, there will be a more relaxed timeframe on realizing a financial return on the investment, which will facilitate ever-larger restoration projects being implemented.”

“It's all handled on a case-by-case basis and has to be negotiated with the Corps of Engineers and other regulatory agencies,” said Coody. “It's generally a daunting task.”

"It's generally a daunting task," says Coody

“Our banks provide environmental credit to developers in exchange for a fee associated with the elimination of their environmental debt and the transfer of environmental liabilities to the bank,” Smith said.

Future of mitigation banking?

Issues for developers?

“Banks take two to three years for approval and require a considerable amount of upfront financial resources with no guarantee of return,” said Morgan. “Depending on how this plays out, it could mean lower or higher

Because the industry tends to move slowly, it may take a number of years to see any significant changes in the way mitigation banks are managed, how much credits cost and the availability of some credits. For now, they remain a valuable, if sometimes complicated, tool for developers to use when needed. l

While the process sounds fairly simple, there are a number of challenges that developers can run into when looking for mitigation credits. The first, as with almost anything else in the development community, is price.

The good news is that, because of the Corps’ emphasis on mitigation credits being purchased within a small service area, it appears that there could soon be more banks. That, however, may come with a cost.

“In general, the higher quality the wetlands is, the more difficult it is to get a permit and the more expensive it is to mitigate,” Coody said. That cost is then passed along to anyone interest in purchasing the credits. “It’s really just the law of supply and demand,” Hamrick said. “[Restoration Systems] positioned itself in the Houston area and benefited as a result. We are starting to see more competition on the landscape and ultimately that is good for everyone.”

Developers can also encounter another issue they’re familiar with: location. “Mitigation banks have to be in the same geographical proximity as the projects that they're mitigating, so that they're creating the same type of wetlands that are being destroyed,” Coody said. 16

April 2016

Courtesy: Restoration Systems

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• 2,550 SF Available • 22,745 SF Shopping Center • Located at FM 517 & Hansen Dr. • Three Access Drives to its Parking Lot

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John Breeding

ray’s buzz

The Park Avenue of Houston? Ray talks to John Breeding with Uptown Houston District about Post Oak Blvd. BY RAY HANKAMER rhankamer@gmail.com

• RN: John, the Uptown Houston District is well under way constructing a new Post Oak Boulevard. Tell us about the project.

JRB: The Boulevard Project will build Post Oak Boulevard into an exquisitely designed grand boulevard all the while preserving existing automobile access, substantially improving transit service and creating a beautifully landscaped pedestrian environment. (For further details, see REDNews. com/uptown)

• RN: I understand this project will include an exciting new regional transportation system using existing METRO Park and Ride and a new dedicated busway to provide

comprehensive commuter service for the first time to employees in the GalleriaUptown area. Can you tell us how this will work, and just which far suburbs will have a transit option to the GalleriaUptown area for the first time?

JRB: We have a plan. Houston has an excellent commuter bus service on its highly successful HOV / busway network. This network effectively penetrates the heart of the suburban communities in which many of Uptown’s employees livecommunities in Katy, Cypress, Mission Bend, Fort Bend County and others The Boulevard Project will get these employees to and from work using Houston’s bus way system. (For further details, see REDNews.com/uptown)

• RN: So the innovative Boulevard Project will essentially be replacing what was originally intended to be the METRO light rail Uptown Line? What about the new Bellaire transit hub, just to the south of the Uptown District?

JRB: That is correct. METRO is in the midst of planning and building light rail lines around Houston. Uptown sits in line behind other projects that will be built first. It is unknown if or when the Uptown line could be built by METRO. In an effort to provide transit options to the employees of Uptown in the near term, our Board of Directors voted to build The Boulevard Project. The Bellaire / Uptown Transit Center will be built on the south end of this project. The Boulevard Project will tap into the existing Westpark Tollway

April 2016

and Southwest Freeway HOV lanes, allowing employees to use the Park and Ride lots along these corridors. RN: When do you see the system beginning operation? Park && Ride Ride Corridors Corridors Park Park and Ride Lots Number of Employees by Zip Code 750 to 999 500 to 749 300 to 499 200 to 299 100 to 199 99 or less

Northwest Transit Center Uptown Dedicated Bus Lanes Bellaire / Uptown Transit Center

How will the construction process be staged to minimize disruption in the area in the meantime?

JRB: We anticipate construction to be complete in late December 2018 with an operating date in early 2019. (For further details, see REDNews.com/uptown)

• RN: How will this system serve employees and residents just inside the Loop and a few blocks west of Post Oak Boulevard who want to use it for both regional and local connectivity? JRB: METRO’s new reimagining program is currently looking at providing better two-way peak and midday service on some corridors to support better connectivity with the local bus network and commute options. When the Boulevard Project is completed, we will have service that works with the local bus network providing the east / west connectivity and

regionally with HOV network.

• RN: John, I have heard Post Oak Boulevard called the “Park Avenue of Houston”. There are announcements which have been made recently of several significant new high-rise residential projects, and this will bring more pedestrian traffic to the area. Whole Foods is there anticipating this new “24-hour population”. Do you see future development trending more heavily to residential than office? It appears that The Boulevard Project will be busy serving not only commuters but a fast-increasing population of local residents, who should be able to move around to shop and dine without getting into an automobile. JRB: One of the pleasant surprises of growth of our area is the residential product. I can see the time when the value of the residential market is equal to the office market. The opportunity for residents as well as workers in the area to move along Post Oak Boulevard without getting in their cars will be yet another benefit of the Boulevard Project. l

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 Montgomery Trace Retail Center For Lease

20821 Eva St./HWY 105 West, Montgomery

Portofino Plaza For Lease

7.1 +/- Acres For Sale

19073 I-45, Shenandoah

2615 FM 1488, Conroe

• A Brookshire Brothers grocery anchored center • Located in the heart of Montgomery, TX • Great visibility and accessibility to SH 105 and 149 • Several 2nd generation retail and restaurant space available • Conveniently located to Walden, Bentwater, April Sound, La Torretta, Grand Harbor and many other exclusive lakeside communities • Less than 1.5 miles from the Montgomery High School campus

• Located ½ mile north of Research Forest Drive on Interstate 45, approximately 1 mile from The Woodlands Town Center and 5 miles from the Hardy Toll Road and the ExxonMobil Corporate Campus • St. Luke’s, Texas Children’s, Methodist Houston and Memorial Hermann Hospital campuses are within 1 mile of the shopping center • Maximum visibility on I-45 • Various retail spaces available

Red Oak Medical Center For Sale

Research Forest Lakeside Bldg.4 For Lease

17203 Red Oak, Houston

2445TechnologyForestDr., TheWoodlands

• Property is situated east of College Park Dr. (SH 242), on the south side of FM 1488, just 2-3/4 miles west of Interstate 45 • Located less than a miles is Windvale Shopping Center, tenants include: Randall’s, Region’s Bank, Shogun Japanese Grill, All State, MW Cleaners, Anytime Fitness • Potential uses: retail, office, medical or other commercial land uses • 514 FF on FM 1488

Havenwood Office Park For Lease

25700 I-45, Spring/The Woodlands • 250,000 SF Class A office building, anticipated completion March ‘16 • High-end finishes, designed to be LEED Silver Certified • Located between The Woodlands Town Center an Exxon Mobil Campus • On-site property management

.846 Acres For Sale

SEC of Calvert & FM 2920, Tomball • Property is located on the SEC of Calvert and FM 2920, Tomball • 184.00’ FF on FM 2920 and 200.21’ on Calvert Road • Utilities: City of Tomball • Potential Uses: Fast food, service station, small retail • Approximately 1/2 mile from the main intersection of SH 249 and FM 2920.

Vision Park Office Building For Lease

128 Vision Park, Shenandoah/The Woodlands • Three-story, 75,000 SF building on five acre site • Excellent access – under ½ mile to I-45 • Close proximity to Market Street, The Woodlands Mall and The Woodlands Town Center • High-end finishes through out • Convenient surface parking with high ratio

• 2 Story Medical/Office Building, 14,232 SF, in close proximity to Houston Northwest Medical Center. • 88% Leased, 1,600 SF leasable space on 1st Floor • Beautiful Atrium Style Building, Elevator, Carport • Conveniently located 0.7 miles north of FM 1960, 2 miles to I-45, 15 minutes to the new ExxonMobil Campus, and 19 minutes to The Woodlands Town Center • Parking: 6/1,000 surface

• 12,481 SF of Class A office space; LEED Silver Certified building • Plug and play, furniture and systems available • Term through 2023 • Convenient covered parking with reserved spaces available • Located in the heart of The Woodlands directly on the west side of Lake Woodlands

26010 Oak Ridge For Lease

The Preserve Office Park For Sale or Lease

16753 Donwick Dr. For Lease

9 Acres For Sale

26010 Oak Ridge Dr., The Woodlands

25420 Kuykendahl Rd., Tomball/The Woodlands

16753 Donwick Dr., Conroe

26823 FM 2978, Magnolia

• +/- 11,000 SF, Two-Story Office Building • FEATURES: Welcome Lobby, Elevator, Access Key Entry, Interior/Exterior Monitored Security Cameras • Full-Service Lease Rate • Includes Electric, HVAC, & Janitorial Services • Located one block west of I-45 on highly desirable Oak Ridge Dr. • Easy access to I-45 and minutes from Woodlands Town Cente

• Located in Woodlands Submarket, at the corner of Kuykendahl Rd. and Preserve Way, near Creekside Village • 1,250 SF -12,500 SF contiguous space available • High-end finishes including granite, wood floors, and crown molding • Convenient to Grand Parkway and Woodlands Parkway

• INDUSTRIAL/FLEX BUILDINGS available for lease, 1,400 SF currently available. • Located in a well-established, light industrial park adjacent to The Woodlands. • Within 1 mile of major amenities such as St. Luke’s Hospital, Walmart, Home Depot, Lowes, Lone Star College, Sam Houston University, Woodforest Bank Stadium & Natatorium (10,000+ seats), among many others • Easy access to Interstate 45 and just minutes from the Hardy Toll Road

• Located within 3 miles of the new Baker Hughes Western Hemisphere facility at the corner of FM 2978 and FM 2920 • Five-lane road improvements on FM 2978 in progress • New luxury community by Toll Brothers across the street under construction , with 850 +/- new luxury homes, 2016 Delivery (Montgomery County). • 390 FF on FM 2978, 1090’ North line, 1090’ South line approximately, 380’ West line • Great opportunity for future development; Potential Uses: Commercial Development/ multifamily • Utilities Available

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

281.367.2220 jbeardcompany.com April 2016

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.

ray’s buzz

Ray talks to Mike Hill BY RAY HANKAMER rhankamer@gmail.com

•

RN: Mike, you and I have known each other a long time, going back to your days with a large international firm. How long were you there? How did you operate your commercial real estate business specialty, and why did you eventually leave to go on your own? Yes, Ray, you and I HAVE known each other for a long time and I wanted to say I do appreciate being included among your other outstanding individuals’ interviews in our real estate community.

MH: I started in 1971 with Coldwell Banker Commercial, which became CB Commercial and finally became CB Richard Ellis. I was part of that wonderful organization for 32 years, started my independent practice Michael Hill Properties in 2002, now 14 years ago. I have always specialized in sales, leasing and investment sales of industrial buildings and land. RN: Before you went with the big firm, what baby steps did you take to first get into industrial brokerage? Are you primarily a tenant or landlord rep?

MH: In the Navy where I, a green Ensign, was assigned as a Department Head (Supply Officer) on a small destroyer deployed in Viet Nam. I found out that I could (had to) learn fast. I loved the challenge! Once I came back from the Service, I looked for another challenge and it came with a friend, Rod Barry (who I’m sure you know), telling me about this new firm from the west coast, Coldwell Banker starting up a new commercial brokerage operation in Houston so I signed up. Over the following 30+ years I learned about myself, what my marketable skills were, what my weaknesses were and how to get them to fly in formation. I do not specialize in Tenant Rep or Landlord Rep. I don’t think an effective industrial broker can, with the market “cycles” of supply and demand … when the opportunities change dramatically.

April 2016

Mike Hill

•

RN: Would you say you are a specialist in a given area of Houston (Texas), or does your business flow come mainly from relationships that you have cultivated over the years and you work on projects just about anywhere?

MH: My work is totally “Client Driven” which means that I will work on anything my Client asks me to do. This takes me at times into: office, retail, farm & ranch, church, school etc. and many times outside Houston, outside the state and abroad too. My “wheelhouse” is greater Houston industrial, but I want my clients to think of and call me with any project they have related to real estate.

RN: I know that you have several younger brokers for whom you serve as an informal but valued mentor. Can you tell our RED News readers some of the regular questions which are asked of you by them and how you respond?

MH: My greatest reward in my career, I think, is the relationships I have had with my many trainees and the current young people I am mentoring. My extended family: Brendan Lynch, Jeff Everist, Billy Gold, Jim Stark at CB and others like Conrad Bernard at Boyd and David Toone at PinPoint Commercial. These guys were all incredibly capable and it was my privilege to be able to spend time with them. I get asked all sorts of questions about handling money, difficult marriage, difficult children, fighting “burnout” in their work, considering unexpected recruitments by other firms. I am mentoring 5 young folks now (with other firms). RN: One of the most difficult things for a young commercial broker is how to make a living over the years it takes to gain the expertise to qualify as an “expert” and to attract listings and clients. What pathway to “expert” would you recommend to those just starting out?

•

MH: Starting out in our business is tougher today than it was for me because there is so much more talented competition. Three things: work HARD, work SMART and be ORGANIZED is the formula for my success. You simply have to put in the time (5 years for me to feel like I knew what I was doing), you have to develop a “sense” for the deal and follow your “gut” in how to proceed . I’m convinced that our subconscious is constantly at work behind the scenes and to the degree that you “have your antenna up” and listen, you will get direction. Also, you must somehow differentiate yourself from everyone else.

RN: I also know that you spend a lot of your leisure time ‘out in the country’…can you tell us about that and what your loves are after commercial real estate? MH: Again, Ray, I am probably the “luckiest” guy you know because I have had the wonderful good fortune to have found our place in Hempstead, TX, just one hour from Houston. Marji and I built this farm 10 years ago for the express purpose of getting our 4 grandkids out of the city to learn a “country” experience . . We have taught them (three boys and a girl) how to fish, how to hunt, how to “muck” horse stalls, how to ride a horse, how to tie up a horse so he won’t get away, how to drive (4 wheelers before and now cars), how to cut firewood, etc., etc.. We so enjoy just the two of us taking just the four grandchildren out there, shooting pool in the honkytonks, eating at the country cafes, building fires when it’s cold and learning the stars at night. It just doesn’t get any better than this. One of my most recent hobbies is long range rifle shooting. I have built a range at our place and just recently introduced my three grandsons to this. Interestingly ALL of them can shoot better i can, and I have had some practice. My 14 year old can hit a dime at 50 yards and a quarter at 100 yards with a good .22 rifle. I can’t even see that far ….

LOW RATES & GENEROUS BUILD-OUT 3131 W. Alabama Houston, TX 77098

2550 N. Loop West Houston, TX 77092

● Greenway Plaza area ● 3rd floor available - built out for tech company ● Ample secure parking & surface parking ● On-site management & card access

● Brookhollow area ● First floor space available ● Ample secure parking & surface parking ● On-site management & card access

For More Information Contact: Bob Ryan | 713.523.1600 (Office) | 713.385.0225 (Cell) | bob@innerloop.net or www.innerloop.net

TCP Realty Services

Prime Industrial & Retail Space for Lease Immediate Occupancy Available

Blue Bell Industrial Park

Main Place Shopping Center

211-271B Blue Bell, Houston, TX

1800 South Main Street, McAllen, TX

Easy access to I45 & Beltway 8

Just West of La Plaza Mall

• • • •

3,500 – 30,000 SF Gated driveways Grade level & up to 18’ ceilings Individual Tenant Signage

• 1,000 – 25,000 SF • South of Expressway 83 & 9 miles North of Mexican Border • Major Tenants: Cinemark Theaters, Dollar General, Kirklands

Rubin Kremling, CCIM, CPM

713-243-6850

Inwood Central Shopping Center 8021 – 8193 Antoine, Houston, TX

Located at Antoine & Gulf Bank Drive • • • •

1,200 – 3,900 SF Strong Traffic Count Property consists of 83,876 SF total Tenants Include: DD's Discounts, Dollar General, and Discovering Me Academy

rkremling@tcprealty.com

April 2016

Camden McGowen Station

ALL ABOUT ARLINGTON: The American Dream City BY BRANDI SMITH

Photo Credit: Courtesy: City of Arlington

It’s the idea to which most all of us subscribe, especially in the real estate industry: work hard and you will find success. It won’t always be easy; sometimes, it will be incredibly difficult, but it’s the American Dream. By definition, it’s “the ideal that every U.S. citizen should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative.”

said Brett Derbes, a Metroplex native and managing editor of the Handbook of Texas. “[Arlington] gets a lot of that transit business.”

Settled in the 1840s, Arlington is now the seventh-largest city in Texas and its population of nearly 400,000 makes it the thirdlargest city in the Metroplex. That position, though, didn’t come easily. It was the result of hard work, determination and initiative, which is why Arlington is “The American Dream City.”

As a result of the city’s can-do spirit, the plant has provided thousands of jobs for residents of Arlington and the rest of the Dallas area for more than 60 years.

“An extremely far-fetched idea” Nestled between Dallas and Fort Worth, Arlington’s location has been key to its incredible success.

“Probably half of the people traveling between those cities are passing through Arlington,” 22

April 2016

The city went from farming community to manufacturing hub in 1951 when General Motors opened an assembly plant in Arlington. “At the time, it was an extremely far-fetched idea,” said Bruce Payne, director of the city’s Office of Economic Development. “The thenmayor was persistent and helped GM see the opportunities of establishing itself in Texas.”

“It’s gone through several updates over the years, but GM is currently in the middle of the largest expansion it’s ever done,” Payne said. Arlington is also home to a number of the

"GM is currently in the middle of the largest expansion it’s ever done," says Bruce Payne

Metroplex’s largest employers, including Texas Health Resources, Arlington ISD and the University of Texas at Arlington.

"It’s fueling reinvention"

Just more than a decade after GM opened its doors, the educational institution known as Arlington State College was welcomed into the University of Texas System. A name change two years later created the University of Texas at Arlington. “I think our biggest asset is having UTA adjacent to our downtown,” said Payne. “It’s fueling reinvention in our downtown development.”

Arlington’s symbiotic relationship with UTA extends far beyond aesthetics. The university aids the city in luring new companies to the area by churning out a skilled workforce.

“UTA has a phenomenal engineering program as well as many other STEM programs that our economy needs and demands,” Payne said. “It is an asset a lot of cities do not have.” UTA’s growth in recent years seems to have mirrored that of its home, exploding in population and even threatening to overtake University of Texas at Austin as the largest university in the state.

“The university is undergoing a stunning amount of growth right now,” said Payne. “It'll keep us young and fresh.”

Enrollment soared by 6.1 percent between Fall 2014 and Fall 2015 for a total of more than 37,000 students. However, when factoring in online attendance, that number shoots up to more than 55,000.

“UTA’s location in North Texas makes it a great option for students who’d like to stay somewhat close to home and still get a great education,” Derbes said, who attended classes at UTA.

“A tall hill to climb”

Though UTA and GM prove that Arlington can study hard and work harder, the city also knows how to let off steam. It’s long been viewed as the region’s entertainment hub, harkening back to the creation of the Arlington Downs Racetrack. Built in 1929, years before Texas lawmakers legalized gambling, the racetrack drew thousands of visitors to the then-fledgling community.

Arlington has raised the stakes over the years, going all out on entertainment as a job creator and tourism generator. In 1972, then-mayor Tom Vandergriff persuaded the owner of the Washington Senators to relocate his team to Arlington. So began the Texas Rangers’ legacy. “[Vandergriff] did it against the wishes of none other than President Richard Nixon,” said Payne. “It was a tall hill to climb to get them to come here, but they’ve been in Arlington ever since.”

Both the Rangers’ Globe Life Park and Cowboys’ AT&T Stadium offer more opportunities than just their home teams’ sports; they are host to myriad other sporting events, concerts and gatherings. Combined with the draw of Six Flags over Texas, Arlington’s entertainment industry brings in more than 6.5 million visitors each year. “It really has been incredible to watch Arlington grow from the city it was when I was a young boy to what it is now,” said Derbes. “It's almost unrecognizable.”

“A redevelopment city”

Hoping to capitalize on that tourism traffic, The Cordish Companies recently announced plans for a $200 million dollar mixed-use development next to Globe Life Park. The project, called Texas Live!, is a joint venture shared by Cordish and the Rangers and will feature a 100,000 square foot entertainment complex, a 35,000 square foot convention center annex and a 300-room hotel.

“We wanted to see an entertainment group come in and actually partner with one of the sports franchises,” Payne said. “When Texas Live! Opens, it will create activities outside of ticketed events.” Arlington is also welcoming other projects and developers as the city evolves from its historic roots amid record growth in North Texas.

“We’ve transitioned into a redevelopment city,” said Payne. “We continue to see a lot of residential interest. As housing types and consumer tastes change, we are seeing a response from development community to try to meet that need.”

The 2,083-acre Viridian development is a classic example of Arlington adapting to meet the needs of developers for mutual benefit. The project, which sits along the Trinity River, includes roughly 1,000 home lots, 700 of which have already sold. Plans also include a 10,000 square foot event center, as well as swimming pools, an event lawn, tennis courts and a basketball court. “There was a lot we had to do in terms of creating a financial condition that would allow for [Viridian],” Payne said. “The city is very involved in making these big things happen. Our local leaders do everything they can to get to the point of success.” Arlington’s ‘pull-yourself-up-by-yourbootstraps’ mentality led to unique successes long before the North Texas building boom of recent years, cementing its status as “The American Dream City.”

“We’ve achieved big things that you might not expect from a city this size,”said Payne. “We have a lot of the same tools as other cities, but we have our own unique circumstances because of Arlington’s character and location.” l

One professional sports team wasn’t enough for the city, which successfully lured the Dallas Cowboys into Arlington by way of the magnificent, state-of-the-art, $1.2 billion AT&T Stadium in 2009.

“I think this is the best venue on the planet,” Payne said. “I watch Cowboys and Rangers games on television and think, there’s no way the city could ever buy this kind of exposure.”

“AT&T Stadium really is an incredible mark on the landscape for all of DFW,” said Derbes. “If you go to the high points of the cities surrounding Arlington, you can see that stadium.”

Photo Credit: Courtesy: City of Arlington

ray’s buzz

2016 CCIM COMMERCIAL REAL ESTATE FORECAST COMPETITION

Speaker: MARK Dotzour, PhD BY RAY HANKAMER rhankamer@gmail.com

• Super bullish about

commercial real estate (CRE)

• Other countries’

economies which are managed by tyrants, monarchs, and dictators are in a mess, but many Western European economies are good, and the best is the United States, which is the ‘go-to’ country for all investors

• What inning are we

in now in current expansion cycle? – 8th or 9th but still some steam left, perhaps a year or two before down-cycle begins

• Still expecting no inflation

• Falling stock

market often signals anticipation of weak economy but this time it is due to other factors such as huge margin debt

• CRE in the United

States remains attractive to international investors, and Houston especially so, even though values are said to be somewhat inflated

• Economic cycles are

part of capitalism and

the smart investor does not over-leverage, but waits to pick up property at a discount from those who have over-leveraged

trade, so they are in big trouble if oil prices stay low

• Our marginal cost to

produce oil is low and getting lower, giving us an advantage over other countries-$50 / barrel works well for us but not for many other countries

• The Fed is watching

the stock market like a hawk and will be careful not to raise interest rates until it stabilizes

• There is lots of

• We are in a ‘hard ball

investment capital in the U.S. waiting to buy stressed assets in other countries at bargain basement price

game’ with other countries whose economies are onetrick ponies dependent on selling only oil-those countries don’t make any products which are desired in world

O'CONNER & ASSOCIATES APARTMENT FORECAST

• While oil is down,

home building and car sales will buoy U.S. economy

BY RAY HANKAMER rhankamer@gmail.com

Speaker: Matthew Phillips, National Apartment Advisors; Ed Nwokedi, Cushman and Wakefield February 24th • Houston area population will

continue to grow steadily, reaching 8.33 million by 2025 according to Greater Houston Partnership-we are currently 5th largest Metro area in the U.S.

• Medical, petro-chemical,

hospitality & leisure, and other industries are strong, and many local submarkets have their own economic drivers

• Most of the current multi-family

(M-F) projects are Class A or “luxury A+” and are between the CBD and the Post Oak Galleria area-about 50% of the new supply

• Many of them are podium mid-

to high-rise and some have a retail component, all necessary due to high land costs; ability to live in them and walk to restaurants and other attractions create an exciting new life-style for Houstonians and people are ready to spend more to ‘move up’

• For those who invested in M-F in 2008-09 there have been big profits; Class C values for example have doubled in ten years

• Concessions are coming in

new Class A product but they should still lease up in two years,

April 2016

a slower rate than expected; some developers will encounter investor and lender pressure due to slower than projected lease-up

• Lenders are a little more hesitant now for Houston projects but they have a strong long-term opinion of our market

• Lots of international investment

money coming to Houston M-F and other commercial real estate, especially from China and South America

• Occupancies may drift down

from 92% to mid-to high 80s but this is not too unusual after a busy development cycle

• Construction boom has not been just in Class A but in “Luxury Class A+”, something new for our market; however, these units are ‘chasing’ a shrinking demographic to some extent due to oil industry layoffs, so the absorption rate is slowing

• Post Oak/River Oaks/Midtown

projects have the highest rents: $2.70 SF, with CBD demanding $2.30 SF: all record high rents

• Financing for today’s projects was based on yesterday’s projections, therefore some equity investors are getting

antsy to get their capital returned

• There will be some good deals

in Houston in coming months / years for buyers of M-F projects; current crunch will create buying opportunities

Offering Properties & Hotel Consulting PROPERTIES AVAILABLE

• Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide • 37 Acres I-10 at Cane Island Pkwy - Katy, TX • Knights Inn/100 Rooms - Victoria, TX • Hotel Sites - Katy, TX

Conta ct: Ray Hankamer

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

40 Years Experience As Services Hospitality Consulting Developer, Owner & Operator

Agents: Ray Hankamer, Jr. rhankamer@gmail.com Pablo Szub szub@mail.com Sergio Pineda sergpineda@aol.com Dan Zimmerman danz@lacolombedor.com

40 Years Experience As Developer | Owner | Operator

(713) 922-8075 • www.hankamer.com (713) 789-7060 www.hankamer.com

H &

PHARR TOWN CENTER

NOW OPEN

COMING SOON... LEASING INFO: Dan Smith 713.268-3716 dsmith@levcor.com

Pharr

www.Levcor.com

WASHINGTON CORRIDOR | 901 Parker Street, Houston, TX 77007 •

• All Construction Work Permitted through Space (2793 sqft) the City of Houston. • Perfect Fit for most small to medium • Commercial Occupancy Permit in place businesses (Attorney - Architect - Account- • 8 dedicated parking spaces • Close-in desirable Location near Shepherd • Drive @ Washington Ave in 2011

List Price: $907,000

Blake Hillegeist Real Estate blake@blakesellshouston.com

Contact: Blake Hillegeist 832-860-6066

April 2016

TIMBER + dirt

A NDY F LACK, B ROKER

(936) 295 - 2500 WWW .H OME L AND L AND . COM

Whole Tract Offering Managed Timberland

T RINITY F OREST Trinity County, Texas

April 2016

Cinco Ranch Office

Wolverine Property Management LLC

Superb Prestigious Corner Location SEC Mason Rd & Fry Rd., Cinco Ranch Lease Offering Data

Space Available:

15,000 +/- SF (can be subdivided-call for terms) Space Condition: 2nd Generation Term: 5+ years (negotiable) Base Rental Rate Space: $24.00 PSF NNN NNN Charge (2015 Est): $11.00 PSF/Year (Landlord paying electric!) Parking Ratio: 4 per 1,000 SF • • • •

Property Data/Attributes

5005 S. Mason Road, Katy, TX 77450 Newly Constructed 2010 Two Story Building Easy access to Grand Parkway and West Park Tollway Area Demographics

2013 Total Pop.*

FOR LEASE

2013 Avg. HH Income*

1-mile

3-mile

5-mile

11.857

105.681

202.320

$199,351

$132,960

$124,086

*Demographic Data Source: ESRI 2015 Forecast

Contact: Roxanne Edmond 281.391.9252 Roxanne@wolverinepm.net

LAKE POINTE VILLAGE EXCELLENT VISIBILITY AT THE DOMINANT SUGAR LAND INTERSECTION OF US 59 & HIGHWAY 6

2015 ESTIMATED DEMOGRAPHICS POPULATION GROWTH 2015-2020 AVG. HOUSEHOLD INCOME

JAZZ HAMILTON

jazz.hamilton@cbre.com +1 713 577 1805

1 MILE

3 MILES

5 MILES

10,072

82,433

226,165

6.82%

7.10%

8.79%

$109,212

$140,644

$118,521

±5,372 SF Second Generation Restaurant Endcap Space Available

A PROPERTY OF

April 2016

T h e 2 3 r d An n u a l CREW Forum

Join 380 Real Estate Professionals

T u e s d a y, Ap r i l 1 2 t h at The Tobin Center

The Big Shift

THE CCIM LAPEL PIN denotes that the wearer has completed advanced course work in financial and market analysis, and demonstrated extensive experience in the commercial real estate industry. CCIM designees are recognized as the leading experts in commercial real estate.

Capital Markets â&#x20AC;˘ Real Estate Patterns The Impact Of The Emerging Generation CREW Forum delivers the experts and the expertise on topics that are significant to the San Antonio real estate community.

Almost Sold Out! Tickets available online www.crew-sanantonio.org

Presented by CREW San Antonio

Interested in advanced commercial real estate education? Call us.

and

visit CREW-SanAntonio.org for details or contact Cherie Short (210) 764-0800

972.233.9107 ext 206 | ntccim.com

o l t o u O FOR

Texas Land

Markets

The 26th Annual Outlook for Texas Land Markets provides information on a variety of legal, economic, social and natural resource issues influencing current land market dynamics. April 28â&#x20AC;&#x201C;29, 2016 Omni Hotel at the Colonnade San Antonio, Texas n a t i o n a l

www.recenter.tamu.edu/register

b a n k

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

Woodland Park Shopping Center 11380 Westheimer, Houston 77077

1 • 2 blocks west of Beltway 8 • 2,952 SF - 2nd floor • Excellent for retail, office or professional use

Kaleidoscope 10612-10692 Westheimer, Houston, 77042

Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108

A A Realty Co

Accredited Management Organization

eleung8888@aol.com www.aarealtytx.com

Beltway 8 West

For more information

Westheimer Rd

ay Westpark Tollw 29

April 2016

Environmental Due Diligence Can Get Sticky. Let Us, Your TEXAS Environmental Consulting Firm, Help You Navigate Through Your Environmental Risks.

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

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

AmeriPort Industrial Park, Baytown Texas

events

BOMA AUSTIN bomaaustin.org CCIM ccimtexas.com CREW AUSTIN crewaustin.com CREW SAN ANTONIO crew-sanantonio.org CTCAR ctcaronline.com

CENTRAL SOUTH TEXAS

IREM AUSTIN iremaustin.org IREM SAN ANTONIO iremsanantonio.org RECA reca.org ULI AUSTIN austin.uli.org

April 2016 Calendar MONDAY

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY ULI Austin 2016 Young Leader Leadership Exchange 4:00pm - 9:00pm

IREM Austin Board & Committee Chair Meeting 11:30am 1:00pm

CTCAR Professional Series: Introduction to the Field of Commercial Real Estate 2:30pm - 4:00pm

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

ULI Austin Breakfast with Rudy Giuliani CREW Austin Communications Committee BOMA San Antonio Program Committee Meeting

CREW San Antonio 23rd Annual Crew Forum at the Tobin 10:30am IREM Austin Monthly Luncheon 11:30am - 1:00pm

RECA Austin City of Austin Policy Committee Meeting - Members Only 12:00pm - 1:00pm

CREW Austin Networking Luncheon 11:30am - 1:00pm

CCIM Central Texas Networking Luncheon & Presentation 11:30am 1:00pm

ULI Austin Young Leaders Committee Meeting 7:30am 9:00am

ULI Austin Monthly Breakfast Series (Apr) I Developer Shark Tank 7:30am - 9:00am CREW Austin Membership Committee Meeting CBA Austin CBA Luncheon 11:30am - 1:00pm

April 2016

CTCAR Property Information Exchange"Appraisal Lawsuit Update" 7:30am - 9:00am

BOMA San Antonio Board Meeting

BOMA Austin BOMA Golf Tournament Twin Creeks Country Club 11:00am

CCIM Central Texas CI 101 Course 8:30am - 5:00pm

IREM Austin Property Operations II (MNT & FIN) 8:00am - 4:00pm

CREW Austin Board Meeting

ULI Austin Management Committee Meeting 11:30am - 1:00pm

CTCAR Boat Cruise with Downtown Tour & Casino 6:00pm - 9:00pm

RECA Austin April Ideas Forum -25th Anniversary 11:15am - 1:00pm

Texas Land Outlook Omni Hotel San Antonio

BOMA Austin April Board of Directors Meeting 7:45am - 9:15am Texas Land Outlook Omni Hotel San Antonio

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

April 2016

social

CENTRAL SOUTHEAST TEXAS TEXAS SOUTH CTCAR

BOARD MEMBERS ARE SHOWING SUPPORT FOR TREPAC

CREW SAN ANTONIO MARCH LUNCHEON

San Antonio members enjoying the CREW luncheon

October 2015

From Top: V. Bruce Evans Jay Hull, Gail Whitfield, Wes Walters, Pam Madere, Bob Rein, Dale Glover

RECA Austin

REAL YP 2016 KICKOFF Young RECA members enjoying Urbanspace kickoff event

CREW AUSTIN & CENTRAL TEXAS CCIM THE REAL ESTATE SUMMIT

From Top: Cacki Jewart of Husch Blackwell, Travis Waldrop, CCIM of Carr Development & Yvonne Heerema of Valor Tax Solutions.

CREW AUSTIN & CENTRAL TEXAS CCIM

Linda Watson, Capital Metro, Mayor Steve Adler, Charris Bodisch, Austin Chamber of Commerce, Ben Bufkin, Endeavor Real Estate

From Top: Leroy Michale Eide, CCIM, Harold Hunt, Real Estate Center Texas A&M University

John Morran, Texas Realty Capital, Thomas Belder, CPA, Pennybacker Capital, JP Newman, CCIM Thrive FP, Marc Rankin, CCIM, Investment Cap LLC, Julie Cripe, Bank of the Ozarks

THE REAL ESTATE SUMMIT

Steve Presti, Mission Title, Brian Novy The Brian Novey Campany

CREW AUSTIN

PROVIDES LOCAL UNIVERSITY AND COLLEGE STUDENTS WITH CAREER OPPORTUNITIES From Left to Right: Angeliza Sierra, Nikki Mooney and Macey Jacobs

April 2016

events

BOMA DALLAS bomadallas.org BOMA FORT WORTH bomafortworth.org CREW DALLAS crew-dallas.org IREM DALLAS irem-dallas.org

NORTH TEXAS

NAIOP northtexasnaiop.com NT CCIM chapters.ccim.com/northtexas NTCAR ntcar.org REC OF GFW recouncilgfw.com

April 2016 Calendar MONDAY

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY NAIOP Lunch with Mine (MenAy) Yucel, SVP/Director of Research at the Dallas Fed | How Exposed is the North Texas Economy to Volatility in Energy Prices? 11:15am - 1:00pm

CREW Fort Worth Cocktails & Conversation 5:30pm - 7:00pm

BOMA Dallas BOMI Course: Building Design and Maintenance 5:00pm - 7:00pm

BOMA Dallas Industrial SIG Session 11:30am - 1:00pm

BOMA Fort Worth April 2016 Luncheon 11:30am - 1:00pm

BOMA Dallas Bowling Tournament Lane Sponsorship 5:00pm - 9:30pm

NTCAR Dallas Industrial Tour: Great Southwest 11:00am - 4:00pm BOMA Dallas Spring Adopt A Block 8:30am - 6:00pm

IREM Dallas Executive Council Meeting

CREW Dallas Networking and lunch 11:45am - 1:00pm

CREW Connect-North Dallas Networking Breakfast 8:00am -9:00am

CREW Fort Worth Left Bank Development Update 11:30am - 1:00pm

BOMA Dallas Allied Council Panel: Meet the Peloton Team 11:30am - 1:00pm

BOMA Fort Worth Committee Meeting: Membership 12:00pm BISNOW DFW Healthcare Summit 7:30am - 10:30am

CCIM North Texas CI 102 Market Analysis for Commercial Investment 8:30am - 5:00pm

CREW Dallas 30th Anniversary CREW Dallas Golf Classic

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

CCIM North Texas April Class Happy Hour 5:30pm - 7:00pm CCIM North Texas NTCCIM Legl I and II

REC of GFW Annual Golf Tournament 11:30am

BOMA Fort Worth Board Meeting 12:00pm

CCIM North Texas April Luncheon 11:30am - 1:00pm

NTCAR Dallas CE: Principles of Real Estate Development + Legal Updates I & II 8:00am 5:00pm

REC of GFW Earth Day Texas 2016 April 22-24 10:00am-6:00pm

BOMA Fort Worth CSC Meeting 11:30am

BOMA Fort Worth Volunteer Day @ RMH 4:00pm

April 2016

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

NORTH TEXAS

April 2016

social

STREAM REALTY PARTNERS HOSTS

STATE OF THE MARKET EVENT IN DALLAS From Top: Steve Vallarelli (Cabot Properties), Blake Kendrick (Stream), Chris Jackson (Stream), Damian Bailey (Cabot Properties), Mike Gebo (Cabot Properties). Seth Koschak (Stream), J.J. Leonard (Stream), Blake Kendrick (Stream).

October 2015

Ryan Boozer (Stream) Mitch Pruitt (Prologis), Jon Sorg (Prologis)

CREW DALLAS

KICKOFF FEBRUARY MEETING From Top: Kellie Davidson, Deborah Forrest, Lawrence Adams, Sharon Herrin,Pam Stein. Deborah Forrest, Lawrence Adams, Teresa Giltner, Kaye McCallum.

CCIM DALLAS LUNCHEON

Below: Members enjoying March Luncheon featured Joek Hickman with Blue Star Land, LP

STREAM REALTY PARTNERS HOSTS

STATE OF THE MARKET EVENT IN DALLAS From Top: Stream Panel.

CREW DALLAS

BOOM & BALANCE

Richard Barbles, Dianna Russo, Robert Curran, Scott MacDonald, Adam Jackson. John Bateman, David Hicks, Blake Kendrick, Brad Conger. Andy Lowe, Cannon Green, Nick Firth.

David Preziosi, executive director for Preservation Dallas. April 2016

events

ACRP acrp.org BACREN bacren.com BOMA HOUSTON web.houstonboma.org CCIM HOUSTON ccimhouston.org CORENET houston.corenetglobal.org C.R.E.A.M. creamtx.com CREN crengulfcoast.com

SOUTHEAST TEXAS

April 2016 Calendar MONDAY

TUESDAY

WEDNESDAY

CREW HOUSTON crewhouston.org FBSCR fbscr.com GREATER HOUSTON PARTNERSHIP houston.org O'CONNOR & ASSOCIATES poconnor.com IREM HOUSTON iremhouston.org

THURSDAY

FRIDAY IREM Houson April Luncheon: Winning War Talent 11:30 am - 1:00 pm

CREN Houston Luncheon 11am - 1pm

BOMA Houston Foundations of Real Estate Management 8:00am - 5:00pm

Retail Live SoCal 3rd Annual Orange County

C.R.E.A.M Luncheon: How to better use your time and make more money. 11:00am - 1:00pm

ULI Houston Suburban Marketplace 2016: Vibrant Suburban Cites + Strong Region

IREM Houston Education Committee Meeting 8:30am

IREM Houston Public Policy Committee Meeting 11:30am

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

CREN Houston Marketing Session 7:30am - 9:00am

CRE Networking Event 2:00pm - 7:00pm IREM Houston Fashion Show Committee Meeting 11:30am

Rick Kolster, Business Coach

IREM Houston IREM MPSA Four Day Course 8:00am - 5:00pm

CCIM Houston CI 104 Course 8:30am - 5:00pm

BOMA Houston Leadership Lyceum - Session II

O'Connor & Associates Group Property Tax Forecast Lunch 11:30am - 1:00pm

BOMA Houston BAC PAC Sporting Clays Tournament

NAIOP Houston April General Meeting 11:00am - 1:00pm

BACREN Monthly Luncheon Marketing Session 10:30-11:30 am Cost Segregation 12:00-1:00 pm

CORENET April Healthcare Breakfast 7:30am - 9:00am

CCIM Houston April Luncheon 11:30am - 1:00pm

ACRP Houston Awards Luncheon 11:30am - 1:00pm

IREM Houston IREM CPM Certification Exam - Half Day 8:00am - 12:00pm

IREM Houston Executive Council Board Meeting 4:00pm

April 2016

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

SOUTHEAST TEXAS ACRP HAPPY HOUR TRENDS 2016

April 2016

social

From Top: Ashley Stubbs and Ty Eckley. Christian Frisch, Gregg Ryden and Josh Loner.

John Gonzales and Michelle Gupton Froehlich. Paul Daily, Fred Hawley and Bill Dampier.

CCIM FORECAST

2016 STATE OF THE INDUSTRY COMPETITION From Top: John Santaseros, Gary Martin. Logan Havel, Michael Strom. Trey Miller, Richard Miller, Jr.

BACREN

MONTHLY LUNCHEON MARKETING SESSION From Top: Members display check to Camp Hope. Members enjoy monthly luncheon

Jasper Tramonte, Frank Fitzgerald Joe Loverdi, Steve Sapio

BACREN

MONTHLY LUNCHEON MARKETING SESSION From Top: Dick Weekley, Texans for Lawsuit Reform and featured speaker

October 2015

Heath Lyle, Beccy White and Tom Langley

Derrick Geitner, Mark Rafail, Jason Nybakken Below: Michael Parks Yolana Fusilier, Sue Lehrer, Julie Lehmann, Tiffiny Scott, Linh Tran David Paul, Marilyn Smith, Larry Riklin, Theresa Quartaro,

IREM HOUSTON

MARCH BREAKFAST FEATURING THE MAYOR From Top: Leaders in the Multifamily Real Estate industry. George Griffin, CPM, CCIM; Mayor Sylvester Turner; IREM Houston President Laura Krupowicz, CPM and Laura Harvey, CPM, IREMâ&#x20AC;&#x2122;s Program's Chairperson.

April 2016

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CENTRAL TEXAS

Austin/San Antonio Areas

AUSTIN INDUSTRIAL SALE

An entity formed by Endeavor Real Estate Group named 6709 B Lane Ltd. purchased an 8,682 SF warehouse at 6709 Burnet Road. The seller was Edward Butler as the representative of 6709 Burnet Lane LP; Scott Phillips of Endeavor handled the transaction.

MEDICAL OFFICE CONDO SALE

Agrud Investments LLC purchased an 8,024 SF medical office condominium at the Arboretum Medical Center, 11410 Jollyville Road. Cheryl Smith with the Kucera Cos. represented the seller and Gay Carpenter Ruggiano with The Kucera Cos. represented the buyer.

MULTI -FAMILY SALE

AUSTIN RETAIL LEASE

AMAZON.COM INC PLANS TO OPEN ITS FIRST PICKUP LOCATION IN THE STATE AT A UNIVERSITY OF TEXAS GYMNASIUM. THE 2,509 SF SPACE AT UT IS DESIGNED TO GIVE AMAZON STUDENTS AND AMAZON PRIME MEMBERS FREE ONE-DAY PICKUP FOR ORDERS PLACED BY 10 P.M.

An unidentified California investor purchased the Northgate Terrace Apartments at 1814 Colony Creek Drive for an undisclosed price. Ellen Muskin and Daniel Elam of Muskin Commercial LLC represented the Austin-based sellers.

OFFICE LEASE

Indeed Inc., an online job-listing service, plans to hire 1,000 employees at its new location in North Austin. Indeed, which relocated its headquarters from North Capital of Texas Highway to a 220,000 SF office in Champion Office Park tht opened on March 4, plans to hire 1,000 more local workers.

OFFICE LEASE

CREW AUSTIN provides Local University and College Students with Career Opportunities. Three scholarships were awarded to the following students – Congratulations to each: • 1st Place ($2,500) to Angeliza Sierra • 2nd place ($1,500) to Nikki Mooney • 3rd place ($1,000) to Macey Jacobs

Kyle Spencer has been hired by HFF as a Director in the firm’s Austin office.

Arrive Logistics leased 14,400 SF at 4407 Monterey Oaks Blvd. Eddy Baumann of Bauman + Gump represented the landlord, and Dan McKinley of Lead Commercial represented the tenant.

OFFICE SALE

Valor Capital Partners in Chicago purchased two Class B offices – the 63,825 SF Briarcroft Building at 12710 Research Blvd. and 9101 Burnet Road, a 60,485 SF building. The seller of both properties was OakPoint Real Estate, a Nashville-based company. Walter Saad, Cathy Nabours and Logan Reichle of CBRE Group Inc. represented the seller.

RESTAURANT SALE

Douglas McGee Corp. in New York purchased the 14,039

April 2016

SF Golden Corral restaurant property at 12509 N. Lamar Blvd. Douglas Diffle and Bruce Bentley III of Marcus & Millichap in Austin represented the unidentified seller

RETAIL LEASE

Nadeau Furniture leased 16,329 SF at 2108 at W. Anderson Ln. in Austin. Thomas Coffman of Endeavor Real Estate Group represented the tenant. Cole Broadhead from Edge Realty Partners represented the landlord.

RETAIL LEASE

Dick’s Sporting Goods leased 90,000 SF at The Parke at the northeast quadrant of U.S. Highway 183A and FM 1431. Daniel Campbell and Daniel Frey of Endeavor Real Estate Group represented the developer and landlord, and Jeff Townsend with Edge Realty Partners represented the tenant.

VACANT LAND SALE

An unidentified buyer purchased nearly 2.7 acres at 402 Camp Craft Road in Westlake Hills. Documents at the Travis Central Appraisal District and Travis County Clerk’s office show the seller as David Freeman and the buyer as Tires Made Easy Inc. Mike Keffales of Retail Solutions represented the seller.

BRYAN OFFICE LEASE

Wayfair, Inc. (NYSE: W) leased their new 51,185 SF customer service center located on 3101 University Drive East in Bryan, Texas. Jody Slaughter , VP of Commercial Leasing at Oldham Goodwin Group, LLC, David Ross, Principal at Cresa Boston, Matt Harvey, Principal at Cresa Boston, and Tim Myllykangas, Managing Principal at Cresa Boston represented Wayfair.

CEDAR PARK VACANT LAND SALE

An unidentified investment group purchased 23.2 acres of land at 1201 E. New Hope Drive in Cedar Park contiguous to the Cedar Park Center for an undisclosed price. John T. Baird, Michael Kennedy and Jeff Bodenman of Avison Young represented the seller, Outland Limited.

DRIPPING SPRINGS RETAIL SALE

Caissa Properties, an Austinbased investment company, purchased the 18,732 SF Spring Bluff Center at 400 U.S. Highway 290 in Dripping Springs. Rebecca Zigterman and Matt Levin of ECR represented the seller, and Craig and Kristen Van Engelen of Realty Austin represented the buyer.

ELGIN VACANT LAND SALE

SREF Eagle’s Landing Development purchased 55, 200 SF of land at the Eagle’s Landing development at County Line Road and Carlson Lane in Elgin. Kurt VanderMeulen with REOC Austin represented the seller and Moore Land Company represented the Buyer.

GEORGETOWN RETAIL LEASE

The Field House Gym leased 29,513 SF at 610 N. Austin ave. in Georgetown, TX. Alan Rust and Tucker Francis of Retail Solutions represented the Anderson Mill Acquisitions, LLC.

NEW BRAUNFELS INDUSTRIAL DEVELOPMENT

Stream Realty Partners and USAA Real Estate Company are developing I-35 Logistics Center which is a 397,000 SF Class A warehouse project located on Interstate-35 in New Braunfels.

INDUSTRIAL DEVELPOMENT

Nelson Commercial Properties (“NCP”), a Houston-based commercial development and acquisition firm, has started development of a 100,372 SF, state of the art distribution center for LKQ Corporation (“LKQ”). The facility is located on a 90-acre site just north of New Braunfels, Texas, off Highway 35 South.

ROUND ROCK VACANT LAND SALE

Spectrum Acquisition Bee Cave LLC purchased nearly 6.5 acres at Sunrise Road and Oakmont Drive in Round Rock. David Sour of Burke Real Estate Group represented the seller, Chandler Creek Parcel G & I LP, and Kurt VanderMeulen of REOC Austin represented the buyer.

ADDISON OFFICE LEASE

Abilene Christian University (ACU), a private master’s level university, signed a 25,719 SF lease with PM Realty Group to expand its footprint at One Hanover Park in Addison to more than 51,000 SF. Kurt Cherry, Brittany Rickett, and Shea Byers of PM Realty represented the landlord in-house. Holden Lunsford and James Engels of Holt Lunsford represented the tenant.

ARLINGTON INDUSTRIAL DEVELOPMENT

Houston-based Transwestern Development Company’s industrial development arm, Ridge Development, is building a speculative 1.6 million SF industrial park called Park 20/360 at the NWC of I20 & SH 360. The initial phase will include four buildings totaling 356,060 SF. Transwestern’s Joe Rudd & John Brew will handle the leasing.

CARROLLTON INDUSTRIAL SUB-LEASE

Ontario, Canada-based DC logistics subleased 97,446 SF with the Crosby Business Park in Carrollton, TX. Luke Davis and Blake Kendrick of Stream Realty Partners represented DC Logistics, while Larry Leon at Logistics Realty, LLC represented the sublessor.

CORSICANA INDUSTRIAL SALE

Polyguard Products Inc., purchased the former Anchor Glass industrial facility at 1901 S. US Hwy. 287 in Corsicana, TX, from Basic Sportswear Co. Holmes Davis of Binswanger handled the deal for the seller.

DALLAS MIXED-USE CONSTRUCTION

Dallas-based development firm KDC plans to begin a new 150,000 SF office building as part of a new $200 million mixed-use project called West Love near Dallas Love Field Airport, which will also bring apartments, two hotels, retail and restaurants to the neighborhood. The project is located at 2345 W. Mockingbird lane between Maple Avenue and Forest Park Road. Los Angeles-

based Highridge Partners and its affiliates are developing the apartments and retail buildings, which are expected to be complete by mid-2017.

OFFICE SALE

Dallas-based real estate investment firm Quadrant Investment Properties LLC has purchased the 22-story, 273,217 SF office tower at 750 N. Saint Paul St. located at the corner of Rose Avenue and Saint Paul Street. The firm has hired CBRE’s Celeste Fowden, Seth Thatcher and Ben Davis to lease the building. HFF represented the seller.

FORT WORTH HOTEL SALE

Fort Worth-based Trademark Property Co. has purchased an adjacent hotel next to its large WestBend mixed-use development in Fort Worth’s University Drive along the Trinity River. Plans are underway to develop a signature hotel, or residential tower above the ground floor retail space, which would replace a Hawthorne Suite hotel that currently sits on the tract.

FRISCO DATA-CENTER CONSTRUCTION

Dallas-based development firm KDC and Patronus Data Centers have formed a joint venture to market and develop 35 acres of land in Frisco for build-to-suit data centers for companies.

RETAIL LEASE

In addition to the regular grocery stores, Sprouts Farmers Market is the latest to confirm another spot at Eldorado and Teel parkways as part of a new shopping center being planned by CMTEX , This will be the second location for Sprouts.

IRVING OFFICE LEASE

Laird Plastics, Inc. leased 15,777 SF at Atrium at Campus Circle in Irving. The tenant was represented by Peter Williams at Consolidated Electrical Distributor, Inc. The landlord was represented by Kathy Permenter and Ally Price at Younger Partners.

OFFICE LEASE

Fresenius (NYSE: FMS), a lending medical care provider headquartered in Germany, signed a one-year lease for 36,268 SF in the office building at 125 E. John Carpenter Fwy. In Irving, TX. The Transwestern Dallas team of Matt Hurlbut, Fletcher Cordell and Nathan Durham represented Brookwood Financial Partners in the transaction.

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NORTH TEXAS

Dallas/Fort Worth Areas

OFFICE SALE

Behringer Harvard Las Colinas LP sold Las Colinas Commons Office Park in Irving, Texas. West Walnut Hill LLC acquired the buildings at 1525, 1555 and 1621 W. Walnut Hill Lane. Transwestern’s Steve Rowland, Steve Simon, Fletcher Cordell and Nathan Durham represented the seller.

OFFICE SALE

McKesson Corp. (NYSE: MCK) is expected to buy the twobuilding,former NEC Corp. of America campus in Irving near State Highway 114 and State Highway 161.

LEWISVILLE OFFICE LEASE

Mortgage Contracting Services leased 120,910 SF at The Ridge at 121 at 350 Highland in Lewisville, TX. The location will serve as the company’s new headquarters. Fletcher Cordell and Nathan Durham of Transwestern Dallas represented the landlord, Peak Holdings LLC, in the transaction. David Wetherington of Colliers International represented the tenant.

MCKINNEY MULTI-FAMILY SALE

Industrial Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors sold a 30acre single-family development approximately 33 miles north of Dallas along the high-growth State Highway 121/U.S Highway 75 corridor in McKinney, Texas. Will Balthrope and Drew Kile, IPA Director, represented the seller, and Joe Benton, the Sanchez Advisory Group; OEM Real Estate Investments LLC procured the buyer.

MCKINNEY MIXED-USE CONSTRUCTION

Former Dallas Cowboy offensive lineman and entrepreneur Robert Shaw’s Columbus Realty Partners Ltd. and the City of McKinney has signed a development agreement to construct a new mixed-use development which will bring 320 apartments, a parking garage, 45,000 SF of office space and 20,000 SF of retail space to the 9-acre site at the southwest corner of Davis Street and McDonald Street (State Highway 5).

Allison Johnson has joined Gaedeke Group as a leasing agent for the Dallas area.

Leisa Barger has joined Weitzman Group and development arm Cencor Realty Services as the firm’s new chief marketing officer. Demian Salmon has joined Stream Realty Partners as a Senior VP in their new land division.

Vincent Knipp has joined the Dallas Office of Marcus & Millichap.

April 2016

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SOUTHEAST TEXAS Houston Area

HOUSTON GOLF COURSE SALE

The Houston Golf Association announced that it will operate the Gus Wortham Park Golf Course in Houston’s East End. The HGA has raised the $5 million required by the city in order to gain control of the 108-year-old course.

INDUSTRIAL LEASE

New Jersey based Constitution Chemical; L.P. has signed a new lease with GAI VII Railwood, L.P. for 36,000 SF of rail-served distribution space at 9040 Railwood in the Railwood Industrial Park. The tenant was represented by Clay Pritchett with NAI Partners and the landlord by Stream Realty Partners’ Matteson Hamilton and Jeremy Lumbreras

HOUSTON

INDUSTRIAL LEASE

MASTER-PLANNED DEVELOPMENT

Rick Wilkerson of California-based Madison Development LLC, along with Michael Bolin and John White of Texas-based White & Bolin Construction Inc., purchased 461 acres of undeveloped land off Foley Road, east of Lake Houston, for the development of a master-planned community.

Maintenance Supply Headquarters (MSH), a national distributor of maintenance supply products for the multifamily sector, has preleased 209,000 SF for its new corporate headquarters and distribution center at Southwest Business park located at the NEC of Beltway 8 & FT Bend Toll way. Bill Littleton, Bill Byrd, Mike Taetz and Ryan Byrd of Colliers International represented MSH in the long-term deal.

INDUSTRIAL LEASE

Homeglance, Inc., an international wholesale furniture maker, signed for a 175,000 SF build-to-suit facility in Southwest Business Park to support its local distribution operations. Walker Barnett and Casey Ricksen of Colliers International represented Homeglance in negotiations

INDUSTRIAL LEASE

Vince Strake has joined Colvill Office Properties as a Leasing Representative Karol Snyder joined Henry S. Miller Houston’s office as a tenant representative.

Jeff Warwick has joined SRS Real Estate Partners as a senior associate. Marshall Ballard has joined The Howard Hughes Corp. as its director of business development. Derek Myers has joined Newmark Grubb Knight Frank Houston as Executive Managing Director.

April 2016

Drager, an international leader in the fields of medical and safety technology leased 40,000 SF in Southwest Business Park. Andre Granello of Cresa Houston represented Drager and James Foreman, Beau Kaleel and Allison Hall of Cushman & Wakefield represented the landlord.

MULTI-FAMILY DEVELOPMENT

Fore Property Co., a Las Vegas and Washington, D.C.-based multifamily developer, plans to launch its first apartment project

in Houston. 111 Durham will be a six-story, 190-unit midrise on the northwest corner of Center Street and South Durham Drive, just north of Washington Street. The land deal – an assemblage of three properties – was brokered by Tom Dosch and David Marshall of ARA Newmark Houston.

MULTI -FAMILY SALE

Advenir, a multi-family real estate investment and management service company acquired the 480-unit Broadstone Stone Park Apts. at 6160 E. Sam Houston Pky from a joint venture comprised of Alliance Residential Co. and Lubert-Adler Partners. Ryan Epstein, Clint Duncan and Wes Breeding of Berkadia represented the sellers.

MULTI-FAMILY SALE

Tradewind Properties boosted its local multifamily portfolio with the company’s purchase of the 392-unit Monterra Park Apts. at 4000 Watonga Blvd. in Houston from CrestMarc. Gill Dolan and Blake Willeford, CCIM of Grandbridge Real Estate Capital arranged the loan, which was structured interest only for the first two years of the three-year term, on behalf of the borrower.

MULTI-FAMILY SALE

Chicago-based private equity group Adams LaSalle Realty purchased Ranch at City Park, a 270 unit project, located at 11900 City Park Central Lane, from Gaia Real Estate. Christopher Curry, Todd Stewart, Todd Marix & JC Clemens of HFF represented the seller.

OFFICE LEASE

New Jersey-based Linde North America, an industrial gas producer, is expanding its Houston footprint in the Energy Corridor. The Company is leasing the second and third floors at Jacob’s Plaza, a 171,567 SF building at 12140 Wickchester Lane. Houston-based PM Realty Group is managing and leasing the complex.

OFFICE SALE

Houston-based First Service Credit Union is purchasing a 50,000 SF building in the Energy Corridor and will relocate their headquarters to this location.

OFFICE SALE

Songy Highroads & EDENS sold the 134,187 SF, 5433 Westheimer Road office building to an individual investor. Dan Miller,

Robert Williamson & Martin Hogan of HFF represented the seller.

RETAIL LEASE

North Carolina-based Lowe’s Cos. Inc. signed on as the anchor tenant at Thor Equities, The Shoppes at Cinco Ranch, located at 9555 Spring Green Blvd. They will occupy 100,000 SF on 13.5 acres. Illinois-based Walgreens Boots Alliance Inc. will also open a store in the retail development.

RETAIL SALE

Berkeley Land Company sold the 36,739 SF Briar Lake Village Center, located at 10455 Briar Forest, to a private investor. Rusty Tamlyn & Ryan West of HFF represented the seller and Michael Hassler & Todd Casper of CBRE represented the buyer.

VACANT LAND SALE

Taeken, Ltd., a family limited partnership purchased approximately 47 acres of land on US 90A (South Main Street) between Hiram Clarke Road and South Post Oak Road, from the seller, S Main, Ltd. The site will be the new campus for Saint Nicholas School; A PreKindergarten through Eighth Grade independent school. The seller was represented by Linda Jones of Wilson-Jones Properties, Inc. The buyer was represented by Mark Kidd, Sr. and Mark Kidd, Jr. of M Kidd Properties, Inc.

SPRING RETAIL DEVELOPMENT

Jacksonville, FL-based Regency Centers Corp. and joint venture partner CDC Houston have disclosed plans to break ground on a new 170,000 SF grocery- anchored development within the Springwoods Village community in Spring, TX Vanessa Barfuss of Regency Centers will handle leasing.

RETAIL DEVELOPMENT

Target Corp. acquired a 9.2-acre site from Kimco Realty Corp. for the development of a new store within Grand Parkway marketplace, located at the Grand Parkway and Kuykendahl Road interchange in Spring, TX.

classifieds & index

ADVERTISER INDEX A. A. Realty Company 29 Arlington EDC 1- North Texas Blake Hillegeist Real Estate 25 Boyd Commercial 13 Caldwell Companies 8 CBRE, Inc 1- SE Texas, 2,3, 5, 27 CREW San Antonio 28 Greenberg & Co. 26 Hankamer Commercial Brokers, LLC 24, 26 Homeland Properties, Inc. 26 ICSC- Las Vegas 42 Levcor, Inc. 25 MR Commercial, LLC 15 NT CCIM 28 Phase Engineering, Inc. 30

Real Share - ALM RE Media 43 Rempfer & Assoc/ Chase International Real Estate 13 Robert Ryan Realtors, Inc. 21 Showalter Law 41 Tarantino Properties Inc 17 TCP Realty Services, LLC 21 Texas Outlook for Land 28 The J. Beard Real Estate Company 19 Waller County EDC 13 Wendy Cline Properties 9 Windrose Land Services 44 Wolverine Management 27 Zarsky Industries 7

In Next Month's Issue... The May Civil Fair Play column will focus on the EB-5 Program, a governmental program that offers a strong incentive for foreign investment in the US.

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281-341-5577 • Info@ShowalterLaw.com April 2016

May 22 – 25, 2016 I Las Vegas, NV

Las Vegas Convention Center & Westgate Hotel We know you attend RECon to network with over 36,000 attendees, participate in education sessions to enhance your professional development, and meet with over 1,000 exhibitors to make deals. We also know you’re wondering who this year’s keynote speakers are.

SUNDAY OPENING SESSION KEYNOTE

Earvin “Magic” Johnson

Magic Johnson Enterprises

MONDAY

Parag Khanna

Tony Hsieh

Factotum, Hybrid Reality

Zappos

TUESDAY Gary Friedman

Restoration Hardware

Bobbi Brown

Bobbi Brown Cosmetics

April 2016

#RECon16

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PRESIDENTIAL SPONSOR:

EXECUTIVE SPONSOR:

Sponsors as of 3/3/16

www.realshareconferences.com

Sponsorship: Michael Toney • 212.457.7827 • mtoney@alm.com General Info: Melissa Baer • 212.457.9740 • mbaer@alm.com Registration: Kaiser Kennedy • 212.457.9618 • kkennedy@alm.com

April 2016

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From 1,000 acres of raw land to a rail-served industrial logistics park in Baytown, Texas.

AmeriPort Industrial Park, Baytown Texas

WINDROSE LAND SERVICES Proven performance for 25 years

713.458.2281

3200 Wilcrest I Suite 325 I Houston, TX 77042 www.windroseservices.com

Firm Registration Number 10108800

NPH selected Windrose when they needed high quality services from a responsive team they could trust. Services provided on this project included:  boundary for acquisition  descriptions for individual parcels  topographic and utility surveys for infrastructure design as well as individual building design  encroachment exhibit  150’sanitary control easement  reciprocal access and utility easements  storm sewer easements  legal description for rail . access  construction staking as well as ALTA/ACSM As-Built surveys

Boundary Surveys Parcel Descriptions Platting Topographic & Utility Surveys Easements Construction Staking ALTA/NSPS As-Built Surveys