REDNews November 2018 - North Texas by RE Journals

NOVEMBER 2018

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Making it Big in McAllen Why the South Texas City is Booming

Marketing to Millennials How Retailers are Shifting to Catch Up

Adding Value to Your Project Drones, 360 photography, 3D visualization and virtual reality

BREAKING IT DOWN WITH BURGHER HAGGARD How outsourced accounting can save money & improve your business FULL STORY ON PAGES 22 & 23

Bedford Burgher, Jeremy Sweek & Clint Haggard

Long Meadow Farms 2,300 Lots

West Bellfort Road

Fieldstone 1,200 Lots

ea dow

62,80

0 VPD

±42.67 acres Ran ch Pa rkway

Grand

Parkw a

y (Tol

l Road

)

114,000 SF of proposed retail

Land for Sale

±42.67 acres available

NEC of Grand Parkway & West Bellfort Street Richmond, Texas 77407 Property Highlights •

Excellent access and visibility from the Grand Parkway (SH 99), a major thoroughfare in the area.

•

Surrounded by Meadow Farms master-planned community (±2,300 homes and average sale price $300k-$500k)

•

Site is outside of the flood plain

•

Within close proximity to Kroger, Jack-in-the-Box, McDonalds, Starbucks, Chase, Wells Fargo, Target & H-E-B

For more information, please contact: Chris Bergmann Jr. Vice President +1 713 425 5868 chris.bergmann@am.jll.com

ALSO AVAILABLE

GREAT RETAIL OPPORTUNITY RIVERBEND AT CLEAR CREEK

SITE

LEAGUE CITY, TEXAS ±6.45 usable acre tract with I-45 frontage, just north of FM 518/N. Main St. in League City, Texas one of the fastest growing cities in the region and the largest city in Galveston County. Property is part of Riverbend at Clear Creek, a burgeoning waterfront development. Site is ideal for retail development, with easy access off of both I-45 and FM 518, by way of Wesley Rd.

1 Hotel Currently underway, the future location of a hotel.

2 Marina Bend at Clear Creek Apartments (Phase 1) The newly opened, Phase 1 of 3, Marina Bend at Clear Creek Apartments. Phase 1 features 201 units.

3 Riverbend Marina The bulkhead is underway and the 30-slip Marina to be completed in the near future which will provide direct access to Galveston Bay via Clear Creek, creating a future waterway development destination and experience.

4 Marina Bend at Clear Creek Apartments (Phase 2) Coming soon.

Call for pricing. KRISTEN MCDADE Senior Director T: +1 713 469 4509 kristen.mcdade@berkadia.com

MATT DAVIS Associate T: +1 713 974 2407 matt.davis@berkadia.com

LAUREN GEARY Transaction Manager T: +1 346 444 8968 lauren.geary@berkadia.com

2229 San Felipe Street; Suite 1600 Houston, TX 77019

© 2017 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #998-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx

IN THIS ISSUE

Scoop Market

Sales & Leases 1-3, 5, 9, 11, 13, 15-19, 21, 24, 25, 27, 29

Services Accounting 1, 22-23

Environmental 30, 43

Events 7, 32, 34, 36 Social 33, 35, 37 Bulletin 38-40

Features

Making it Big in McAllen 8, 10 Marketing to Millennials 12, 14 Nick Massad Interview 20

Financial 29, 44

Breaking it Down with Burgher Haggard 22-23

Legal 27

RAY’S BUZZ

1031 Exchange 27

O’Connor & Associates Office Forecast 18 BoyarMiller Capital Markets Review 28 CIVIL FAIR PLAY How Can Drones Add Value 26, 27

NOVEMBER 2018

With this much highway frontage, your business belongs in Seabrook. <<HIGHWAY EXPANSION

Available Real Estate for Sale or Lease Seabrook Town Center

› Retail and dining pad sites › Seeking grocery anchor

NORTH PLANNING AREA THE

COMMONS

TOWN CENTER

GALVESTON BAY

The Commons

LAKE MIJA

› Borders a new 416 unit luxury apartment complex › 30,000 square feet of retail space

TAYLOR LAKE

North Planning Area › 90 +/- acres of prime site adjacent to the Bayport Container Terminal

›

and Residential

Old Seabrook District

OLD SEABROOK DISTRICT

› Beautiful and Historic Main Street Area › Mixed commercial and residential lots Waterfront District

CLEAR LAKE

GALVESTON BAY

› › Prime for dining and entertainment use

WATERFRONT DISTRICT

DISTANCE

30to minutes Houston ECONOMIC DEVELOPMENT CORPORATION

v pchavez@seabrooktx.gov v 281.291.5730 v seabrookedc.com

Primary Retail Trade Area

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITERS

Janis Arnold janisarnold1@gmail.com Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDNews.com

Dear Readers,

For the past 20 years, our November issue has been a Texas ICSC Retail Focus issue which we distributed initially at the Texas ICSC show in San Antonio and in recent years at the Dallas Convention Center in Dallas.

However, ICSC has renamed its Texas Deal Making show “Red River States Conference and Deal Making” and has included Arkansas, Louisiana & Oklahoma to the mix with the date moved to January 9-11, 2019.

For this month’s issue, Brandi spoke with McAllen’s Director of Retail & Business Development, Rebecca Olaguibel, about McAllen’s exciting retail and business development. Burgher Haggard tells us how beneficial it can be for real estate investors to outsource their accounting function and Russell Thomman talks about how drones can add value to a real estate project. As a company, REDNews continues to recognize, report and utilize the changes affecting our CRE marketplace, including the heightened pace of consolidation, even faster pace of PropTech change, and the resurgence of “old school” tried and true relationship management. We do like that phone conversations and face-toface meetings are back in vogue, and plan to fill the calendar with many networking opportunities. In January we will be hosting our first annual 2019 Trailblazers Commercial Real Estate Summit with our partner, Real Estate Summits, so mark your calendar for January 16th if you’re in the DFW area and for January 18th if you’re in Houston. It will be a great opportunity to hear CRE leaders share their experiences. Hope you have a wonderful Turkey Day filled with Thanksgiving! Best Regards,

CONTRIBUTING WRITER Russell Thomman

MANAGING DIRECTOR

Benton Mahaffey accounting@REDNews.com

EMARKETING DIRECTOR

Robert Frogee emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

SALES

Ginger Wheless ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

REDNews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US. Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387

TOTAL QUALIFIED ONLINE REDNews DISTRIBUTION: 50,458 REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 2537 S. Gessner, Ste. 126 Houston, TX 77063

Ginger Wheless

NOVEMBER 2018

present

Save the Date to Hear From Top Industry Pioneers Office • Industrial • Retail • Multifamily • Hospitality • Brokerage Service Company • Development & Investment Where Do The Pioneers See The NEW Opportunities Evolving?

January

16 2019

For More Information, Location, Speakers and Registration: www.resummits.com/DALLAStrailblazer January

18 2019

For More Information, Location, Speakers and Registration: www.resummits.com/HOUSTONtrailblazer

Making it big in M

c A L L E N

Why the South Texas City is booming

McALLEN SKYLINE

BY BRANDI SMITH

Nestled on the Texas side of the southern U.S. border with Mexico, what is now the state’s fifth-largest city is in the midst of a development boom. McAllen, often (and mistakenly) labeled a typical border town, was recently named one of the Top 10 Biggest Boomtowns in America by Magnify Money. A review of the city’s population, earnings and business growth led CNBC to rank McAllen No. 1 for cities with rising salaries. 8

NOVEMBER 2018

“McAllen is a powerhouse fueled by international trade, medical tourism, retail and higher education,” says Rebecca Olaguibel, the city’s director of retail and business development. “As a matter of fact, McAllen generates more than $3 billion in gross retail sales tax for the state of Texas every year.”

The city boasts more than 700 restaurants, ranging from Japanese, Peruvian, and Italian every style of Mexican including regional Tex-Mex. The choices also range from local flavors offerings the taste of South Texas, to impressive destination restaurants like Buddy V’s, Carlo’s Bakery, Texas de Brazil and Yard House.

One element of the city’s success is its visiting population of 39,000 people every day. “Because of the influx of visitors from across the region, from both sides of the border, I call McAllen a geographic jackpot,” says Olaguibel. The city owns and operates two international bridges with over 4 million northbound travelers a year. Additionally, roughly 700,000 travelers utilize the McAllen-Miller International Airport annually. Combine all that with an international bus terminal and it’s easy to see how those visitor numbers add up to a whopping 18 million a year. “Beyond the daily influx of visitors, we have a thriving Winter Texan season between October and February,” Olaguibel adds. “Retirees from the midwest love to winter in McAllen because of our mild winter climate, low cost of living, and hospitality; it makes for an interesting cultural experience.”

McALLEN-MILLER INTERNATIONAL AIRPORT Continued on Page 10 >

±7 Acre infill tract on Morton Road Suitable for mixed use: Multifamily, Retail, Medical Offices, Day Care Center, Office, etc.

• +/- 370’ Frontage on Morton Road

BARKER CYPRESS ROAD

GREENHOUSE ROAD

FRY ROAD

MORTON ROAD N WESTGREEN BLVD

N MASON ROAD

• 2 miles East of Grand Parkway-99 • 2 miles North of Interstate 10 (Katy Freeway) • Water lines available to property

LOCATION MAPS RETAIL PROPERTY FOR LEASE //

• Sanitary Sewer lines available to property • Offsite detention may be purchased MAIN PLACE SHOPPING CENTER // 1800 SOUTH MAIN // MCALLEN, TX 78503 • Overlooks 36 Acre private spring fed lake • Schools – Katy ISD – A top national performer

CONTACT: Joe Grillo C: 713-569-3322 Amar Amancharla C: 281-300-5353 Email: Morton7acres@yahoo.com

$3/SF BROKER BONUS* MAIN PLACE SHOPPING CENTER 1800 SOUTH MAIN // McALLEN, TX 78503 AVAILABLE SF | ± 850 - 25,000 SF LEASE RATE | $10.00 SF/YR (NNN)

• Seven building, multi-tenant retail community center situated with ± 176,447 net rentable square feet.

RUBIN KREMLING, CPM, CCIM

713.805.8030

rkremling@tcprealty.com TCP Realty Services, LLC

// 5858 Westheimer Road, Suite 800, Houston, TX 77057

// 713.243.6800

• Diverse tenant mix with several large tenants such as Cinemark Theater, Kirkland’s, Dollar General and The University of Texas Rio Grande Valley.

• The Property features a parking ratio of 5.31/1,000 with abundant points of egress/ingress into the center • Two entrances along U.S. Expressway 83, one entrance along South Main Street, five entrances along Savannah Avenue, and two entrances along South 18th Street. * FOR NEW LEASES COMMENCING AFTER 10/4/18 & SIGNED BY 12/31/18

TCP REALTY SERVICES, LLC Commercial Real Estate Investments and Services

RUBIN KREMLING, CPM, CCIM 713.805.8030 rkremling@tcprealty.com

tcprealty.com

Mc A L L E N

Why the South Texas City is booming < Continued from page 8

PALMS CROSSINGS

McAllen is also a hub for retail and entertainment development. Topgolf will build its 11th Texas location in the area, adding 500 new jobs to the McAllen market. “They’ll bring in their opening teams, top administrative staff and operations team from outside of the market and have them relocate here either permanently or temporarily”, explains Olaguibel. “We experienced the same moves by Dave & Buster’s last year.”

REBECCA OLAGUIBEL Director of Retail and Business Development

The woman who just might be McAllen’s biggest development champion moved to the city 11 years ago.

“This is a point of pride for us because, in the past, our high school graduates left the area, heading to San Antonio, Houston, Dallas or beyond,” Olaguibel explains. “Now with the opportunities we have here in higher education, they can stay close to home and have an incredible opportunity for quality higher education. We’re really proud to offer this option because we feel our kids will power McAllen’s future.” Other projects in the area include Simon’s La Plaza redevelopment, which featured a 250,000 square foot expansion along with two parking garages, new restaurants and new tenants. The Shops at 29 offer 200,000 square feet of new retail space with anchor tenants such as Dave & Busters, Burlington and Ulta. Now in phase 3, the Palms Crossing shopping center continues to add new options.

“It’s been an amazing journey,” Olaguibel says. “I’ve learned so much about McAllen, including many unique attributes to the city. There is an intriguing historical and cultural side of McAllen, in addition to the quality of life elements and diverse industries. It really is an amazing city.”

around the convention center,” Olaguibel adds. She says the city, as part of its strategic plan, wants to offer the best quality-of-life experiences it can, including cultural events and experiences. “Our City wants to ensure that we provide the best experience for people who live and work in McAllen, in addition to the 39,000 people who visit us every day,” says Olaguibel. “We want to make sure that when you enter McAllen city limits, you know you are in a very special place.” McAllen’s growth and successes are propelling it to achieve more, led by city management and elected officials who are pro-business. “That’s been our goal and we’ve worked really hard toward creating amazing experiences and providing

PERFORMING ARTS CENTER

An example of that can be found in the Tres Lagos development, which is currently under construction. When it’s complete, it will feature an estimated 5,000 single-family homes, 1,000 townhouses, 2,000 multifamily units and 1.5 million square feet of retail space. “Part of the vision behind Tres Lagos was to expand McAllen’s footprint to the north. We wanted to make sure that we had growth opportunities for our city, so we worked with a private developer, annexed the land into the city of McAllen and collaborated with the developer to create a city within the city at Tres Lagos,” says Olaguibel. Already, Tres Lagos is home to Texas A&M’s Higher Education Center. Initial enrollment this fall was expected to be around 50, but more than 200 people signed up for classes. That simply adds to the area’s educational options, which include University of Texas Rio Grande Valley and South Texas College. 10

NOVEMBER 2018

“We’re a well-rounded family friendly city, deep in south Texas,” adds Olaguibel. The McAllen Convention Center, which books about 300 events a year, draws people from at least a 200-mile radius, says Olaguibel. The property includes the McAllen Performing Arts Center, host of the Broadway series. “It’s a truly walkable district where you can enjoy yourself. There are great restaurants and high-end hotels all

the best quality of life for our citizens and guests,” Olaguibel says. “And we’re not stopping. We’ve really just started and we’re excited for what’s next.” That means there’s an open door for developers with the right ideas. Says Olaguibel: “McAllen is a place where they can make an investment, knowing the return on their investment will exceed expectations.”

INSIGHT. KNOWLEDGE. EXPERTISE INSIGHT. KNOWLEDGE. EXPERTISE INSIGHT. EXPERTISE INSIGHT.KNOWLEDGE. KNOWLEDGE. EXPERTISE WEBSTER MONTGOMERY

CYPRESS WOODLANDS 3.2 Acres – For SUBMARKET Sale Medical Office Space – For Lease CYPRESS CYPRESS 3.23.2 Acres – For Sale Acres – For Sale

NEC of Huffmeister @ Barker Cypress Rd. Vision Park Dr., •121 UNRESTRICTED land, LessShenandoah than 2 miles from Hwy 290, less than 4 miles from theBarker Grand Parkway NEC of Huffmeister @ Barker Cypress Rd.Rd. NEC of Huffmeister Cypress • Near CHI St. Luke’s Health,@ Texas Children’s,

(GP-99), and 6 miles from Hwy 249 Methodist, Memorial Hermann - from • Houston UNRESTRICTED land, LessLess thanthan 2 miles from HwyHwy • UNRESTRICTED land, 2 miles The Woodlands Medical Center • Storm water detention located off-site and utilities 290,290, less than 4 miles from the Grand Parkway less than 4 miles from the Grand Parkway (GP-99), and 6 miles from Hwy 249249 (GP-99), and 6 miles from Hwy •available Estimated Completion 1st Quarter 2019 • Storm water detention located off-site andand utilities • Storm water detention located off-site utilities available available CONROE MEDICAL CENTER

THE 1.1 Acres WOODLANDS - For Sale Office Space - For Lease CONROE MEDICAL CENTER CONROE MEDICAL CENTER 1.11.1 Acres - For Sale Acres - For Sale

River Pointe Drive Technology Forest, The Woodlands •4185 City Utilities available River Pointe Drive • Full Floor Available 24,169 SF Dr. for development Pointe • LastRiver remaining site Drive on–River Pointe City Utilities available Located on SW corner offrom Research Forest and Central • City Utilities available ••Directly Across Loop 336 the new Grand Technology Forest Blvd. community by Johnson Development •Park Last remaining site on River Pointe Dr. for development • Last remaining site on River Pointe Dr. for development •• 5,571 SFAcross Available on 1stfrom Floorthe new Grand Central Directly Loop 336 • Directly Across Loop 336 from the new Grand Central ParkPark community by Johnson Development community by Johnson Development

THE WOODLANDS Retail/Office TEXAS Space CITY – For Lease Office Building - For Sale/Lease THE WOODLANDS THE WOODLANDS

Retail/Office Space – For Lease Retail/Office Space – For Lease

6.4 TOMBALL Acres - For Sale

.71THE AcreWOODLANDS - Pad Site Available

Prime Commercial Development - For Sale WEBSTER WEBSTER

New Mixed-Use Development – For Lease MONTGOMERY MONTGOMERY

Old Galveston Rd. Acres - NWC of Less FM than 2920/FM 2978Inter•55 UNRESTRICTED land, 1 mile from state 45, and less than 2 miles from NASA Old Galveston Rd. Old Galveston Rd. • Frontage on both FM 2920 & FM 2978 (4-lane roads)

SH 105 & HWY 149 Westgate Crossing - Research & Egypt Ln. • Located on the hard corner of Forest two main corridors inSH Montgomery with traffic of over 20,000 105 & Retail HWY 105 & HWY 149 counts •SH 60,000 SF &149 Professional Office

6.46.4 Acres - For Sale Acres - For Sale

and Space Center Houston UNRESTRICTED land, LessLess than 1 mile from Inter• UNRESTRICTED than 1 mile from Inter•• Northwest corner atland, lighted intersection near Baker • Water and high-density sewer services state 45, and lessless thanthan 2sanitary miles from NASA state 45, and 2 miles from NASA Hughes Campus available through the Houston City of Webster andand Space Center Houston Space Center • Utilities provided by City of Tomball • Water andand high-density sanitary sewer services • Water high-density sanitary sewer services available through the the CityCity of Webster available through of Webster WILLIS

46 Acres CONROE – For Sale Pad Sites Available WILLIS WILLIS

4646 Acres – For Sale Acres – For Sale

I-45 & NEC Longstreet Rd. &growth FM 3083 (Teas Conroe •I-45 Major corridor withRd.), explosive residential and commercial development & NEC Longstreet Rd. •I-45 Located at the NE Corner of I-45 and Teas Rd. I-45 & NEC Longstreet Rd.

(FM 3083) ••Located approximately 17 with miles from residential Theresidential Major growth corridor with explosive • Major growth corridor explosive •Woodlands Pad Sites: A-1.32 ac,miles E-1.0from ac, F-1.21 ac and 45 Houston commercial development commercial development . andand •• Conroe named “Fastest 17 Growing US from City” by US approximately miles from TheThe • Located approximately 17 miles .Located Census Bureau Woodlands and 45 miles from Houston Woodlands and 45 miles from Houston

. . WOODLANDS SUBMARKET Retail/Office Medical – For Sale or For Lease WOODLANDS SUBMARKET 15 Acres For Sale WOODLANDS SUBMARKET WOODLANDS SUBMARKET

Retail/Office Medical – For Sale or For Lease Retail/Office Medical – For Sale or For Lease

1644 Research Forest Dr. F. Lowry Expwy, office Texasspace City •5225 2,600 Emmett SF available, 2nd generation (former title company) Research Dr. •1644 $10,000 Bonus toForest Selling Agent 1644 Research Forest Dr.

25450 Kuykendahl Rd., Tomball of I-45 at FM 1488 2nd generation •SWC One-story, 11,000 SF building, medical/retail (7,986 SF) Tomball available for lease Kuykendahl Rd.,Rd., Tomball •25450 1 25450 Mile North ofspace The Woodlands Kuykendahl

••Located just mile2nd west of I-45Building 2,600 SF generation office space 10,000 SFavailable, of1/2 Single Story Office • 2,600 SF available, 2nd generation office space (former titletitle company) (former company) • New HVAC System installed 2018 • Located justjust 1/21/2 milemile westwest of I-45 • Located of I-45

••Preserve Plaza is located near Creekside Village, One-story, 11,000 SF building, 2nd2nd generation 15• +/Acres adjacent to Crossing Church One-story, 11,000 SFGrace building, generation The Woodlandsspace medical/retail (7,986 SF) SF) available for lease medical/retail space (7,986 available for lease • Major Growth Corridor • Preserve Plaza is located nearnear Creekside Village, • Preserve Plaza located Creekside Village, • Utilities available -isCity of Conroe TheThe Woodlands Woodlands

.71.71 Acre - Pad Site Available Acre - Pad Site Available

cars per day Located on & the hardhard corner ofAvailable two main corridors • Located onRetail the corner of two main corridors • Restaurant Pad Sites • in Brookshire Brothers grocery anchored Montgomery withwith traffic counts of over 20,000 in Montgomery traffic counts ofshopping over 20,000 • Located on Corridor Adjacent to Regional center cars perper dayMain cars day Power Center with National Retailers • Brookshire Brothers grocery anchored shopping • Brookshire Brothers grocery anchored shopping center center MAGNOLIA

23.95 SPRING Acres – For Sale

New Retail Space – For Lease MAGNOLIA MAGNOLIA

23.95 Acres – For Sale 23.95 Acres – For Sale

24497 Allyson Rd. & FM 149 17552 Airline Spring • NorthStuebner of the new majorRd., flyover at the FM 1488 &24497 FM 149 intersection •24497 Phase IAllyson – 3,625 SF New Retail Space Rd. & FM 149 Allyson Rd. & FM 149Available • Phase IIResidential –the 7,000 SF Spring Major &Available Commercial North of newnew major flyover at Development the FM FM 1488 • North of the major flyover at2019 the 1488 inFM this area 149 intersection & FM 149 intersection •& Signalized Intersection of Stuebner Airline @ • Theisswood Major Residential & Commercial Development • Major Residential & Commercial Development in this areaarea in this

WOODLANDS SUBMARKET WOODLANDS Medical Office Space SUBMARKET – For Lease Flex Space - SUBMARKET For Lease WOODLANDS WOODLANDS SUBMARKET Medical Office Space – For Lease Medical Office Space – For Lease

121 Vision Park Dr., Shenandoah 32315 Tamina Rd.,Health, Magnolia • Near CHI St. Luke’s Texas Children’s, Houston Methodist, Memorial Vision Dr., Shenandoah •121 +/3,800 SFPark Single Tenant FlexHerman Building- The 121 Vision Park Dr., Shenandoah

Woodlands Medical Centers • Near CHI St. Luke’s Health, Texas Children’s, Fully Furnished 1,500 SF Office • Near CHI St. Luke’s Health, Texas Children’s, • Houston Estimated Completion 1st Quarter 2019- The- The Methodist, Memorial Herman Houston Methodist, Memorial Herman • Located near FM 1488 and FM 2978 Woodlands Medical Centers Woodlands Medical Centers • Estimated Completion 1st Quarter 2019 • Estimated Completion 1st Quarter 2019

Landlord & Tenant Representation | Property Sales & Disposition | Buyer & Site Acquisition Landlord Tenant Representation | Property Sales & Disposition | Buyer & SiteReal Acquisition Commercial Property& Management | Development & Consulting Services | Commercial Estate Investment Landlord & Tenant Representation | Property Sales & Disposition | Buyer & Site Acquisition Landlord & Tenant Representation | Property Sales & Services Disposition | Buyer & Site Acquisition Commercial Property Management | Development & Consulting | Commercial Real Estate Investment 10077 Grogan's Mill Road | Suite&135 | The Woodlands, 77380 Real Commercial Property Management | Development Consulting Services | Texas Commercial Estate Investment Commercial Property Management | Development & Consulting Services | Commercial Real Estate Investment 10077 Grogan'sjbeardcompany.com Mill Road | Suite 135| |281-367-2220 The Woodlands, Texas 77380 10077 Grogan's Mill Road | Suite 135 The Woodlands, Texas 77380 10077 Grogan's Mill Road | Suite 135 | The Woodlands, Texas 77380 jbeardcompany.com ||281-367-2220 jbeardcompany.com | 281-367-2220 jbeardcompany.com | 281-367-2220

MARKETING TO MILLENNIALS How retailers are shifting to catch up BY BRANDI SMITH

As news sinks in that generational mainstay Sears has filed for bankruptcy protection, it’s prompting a renewed examination of the impact younger generations are having on the retail industry and how retailers are responding.

Sears will close 142 stores near the end of the year, along with the 42 it already planned to shutter. The filing is a kind of last-ditch effort to save the company that made it through the Great Depression after getting its start in Chicago more than 130 years ago. There’s no one identifiable nail in the coffin for Sears; rather a number of factors (and lessons for other large retailers) in an ever-shifting retail landscape.

ONLINE VS. BRICK-ANDMORTAR It’s easy to look at Sears as an example of a brick-and-mortar behemoth that was unable to successfully answer demand when it comes to e-commerce. It did well in specific areas. Its tool sales, for example, landed it as the No. 5 domain in that category in 2017. However, that didn’t translate to bigticket items, such as appliances. Toys R Us struggled with the same challenges, leading to a bankruptcy filing and the closure of all its locations earlier this year. It barely even attempted to woo online customers. Rather than build a platform of its own, the toy chain shelled out $50 million to Amazon to market its products. That left it with hardly any digital presence.

There is plenty of evidence that a change in approach is not only possible, but rewarded by consumers. Online sales have grown to 25 percent of all business for highend department stores Neiman Marcus and Nordstrom. According to CBRE, Williams Sonoma now does 52 percent of its sales online. To accomodate that, the chain that offers gourmet foods and professionalquality cookware, had to modernize its supply chain. Even Walmart, which was predicted to be an early victim of “the Amazon effect,” has learned how to thrive by offering online customers the same variety (or often more) they would find in a physical location with the ease of online shopping. This does not suggest the death of brick-and-mortar retailers. Receipts don’t lie; people still prefer to buy products in-store. A number of online retailers (Amazon via Whole Foods, Warby Parker, Huckberry and others) have opted for physical locations to supplement online sales.

NICHE VS. VARIETY Another challenge for Sears was that it became such a juggernaut, it was nearly impossible to change its course. Along with the tools and appliances for which it was known, Sears sold clothing, home decor, shoes, Continued on Page 14 >

NOVEMBER 2018

RETAIL TEAM IN THE SOUTHWEST 805+ TRANSACTIONS | OVER $3 BILLION SOLD

TOWN & COUNTRY

McALLEN, TX

LISTINGS 19 ACTIVE

ACTIVE LISTINGS

PARKWAY CORNERS DALLAS, TX

DALLAS-FORT WORTH

SECONDARY & TERTIARY MARKETS

AT&T

SHOPS @ KINGS FORT

KERRVILLE, TX

KAUFMAN, TX

100+ EXCLUSIVE LISTINGS $450+ MILLION in

AVAiLABLE inVEnTORY WALGREENS

SAM MOON CENTER FORT WORTH, TX

ACTIVE LISTINGS

DALLAS, TX

ACTIVE LISTINGS

H O U ST O N

AUSTIN & SAN ANTONIO

STARBUCKS HOOTERS

McKINNEY MARKETPLACE

HALTOM CITY, TX TX SAN ANGELO,

McKINNEY, TX

WHERE TODAY’S BUYERS ARE COMING FROM

RAISING CANE'S DALLAS, TX

31%

29%

OTHER

TEXAS

40%

17%

OTHER

68%

15%

SERVICE KING PLANO, TX

TEXAS

LITTLE SUNSHINE’S PLAYHOUSE THE WOODLANDS, TX

2007

2018

DUVAL CENTER AUSTIN, TX

(469) 844-8880 | 5550 LBJ Fwy Suite 800 Dallas, TX 75240 | www.StriveRE.com

MARKETING TO MILLENNIALS

< Continued from page 12

IDENTITY VS. BRAND

accessories and beauty products. It started offering banking and real estate services.

If you examine those department store retailers that have struggled, they also share a crisis of identity. It could be hard to differentiate what makes JC Penney a more contrasting shopping experience than Sears. They both offered a wide range (possibly too wide) of mid-levelpriced products. They also appealed to older shoppers, but failed to connect with the younger generation.

There was a time when the one-stop shop approach lured consumers. They appreciated the variety and ease that went along with it and we saw retailers such as Walmart and Target capitalize on that. The shopping habits of millennials, we’ve learned, are considerably different from their parents and grandparents. They prefer to shop at boutiques, specializing in a specific niche̒. That’s given rise to a new era of mom-and-pop shops opening up and thriving.

On the other hand, you have brands such as Neiman Marcus, Nordstrom and Barneys that have staked a claim on the higher-priced end of the shopping experience. Swing to the other side of the pendulum and you’ll find discount retailers such as Walmart, Target and Dollar Tree. Those stores all embrace and foster their identity more than any one brand.

EXPERIENCE VS. CONVENIENCE In that same vein, younger shoppers are foregoing the promise of convenience and opting instead for retailers that offer an experience. It can be personalized, immersive, responsive or, ideally, all of that. Retailers competing with the online market have to be able to provide something the internet can’t. Sears failed in this light by refusing to invest a significant amount to spruce up its stores. It ended in a middle-of-the-road scenario: not high-end like Nordstrom and not discount like Walmart. Even the retailers that have succeeded in creating a niche̒ brand or experience are continuing to evolve. As an example, Barneys New York collaborated with an interior designer to revamp the ninth floor of its flagship Madison Avenue location. The area is now a showcase for Barneys Home and Barneys Kids, 14

NOVEMBER 2018

To come back from the brink, Sears would have significant choices to make. Should it give consumers the deals they’re looking for? Will it invest in creating an experience for customers? What kind of online presence can it offer for consumer convenience?

even featuring a pop-up space. Walmart, Target and Macy’s have also made considerable investments into refurbishing their stores. Consider this: the influence of Instagram. If the social media generation can gather post-worthy content in a store, they will visit. That’s also an opportunity for retailers to let customers do the marketing.

In reality, those are the same questions all of America’s retailers need to answer, if they haven’t already. They are learning that they must find a balance between all of these elements to succeed in an industry that, while having always shifted with the times, has never seen a sea change of these proportions. To survive, they’ll cater to online customers while creating an experience in their stores. They’ll distinguish themselves as a discount option or a high-end splurge. They’ll create a persona that’s easily marketed, identified and, let’s be absolutely honest, social-media worthy.

JOIN JOIN NATIONAL NATIONAL RETAILERS RETAILERS ATAT THESE THESE PREMIER PREMIER LOCATIONS LOCATIONS IN IN CYPRESS, CYPRESS, TXTX

Looking Looking to open to open youryour nextnext location location in Cypress? in Cypress? Don’t Don’t missmiss out out on these on these exciting exciting retail retail opportunities! opportunities!

1. Cypress 1. Cypress Crossing Crossing

CypressCypress Crossing Crossing is situated is situated at the corner at the of corner Highway of Highway 290 290 and FMand 1960FM - one 1960 of-the onebusiest of the busiest intersections intersections in NW in NW Houston. Houston. This mixed-use This mixed-use offeringoffering is perfect is perfect for restaurants, for restaurants, retail, pad retail, sitepad or office site orspace. office space.

2. The 2. Boardwalk The Boardwalk at Towne at Towne LakeLake

The Boardwalk The Boardwalk is a masterfully is a masterfully designed designed lakeside, lakeside, mixed-use mixed-use development development locatedlocated inside the inside master-planned the master-planned community community of Towne of Lake. Towne Find Lake. your Find space yourand space become and become part part of the premier of the premier destination destination spot in Cypress, spot in Cypress, Texas! Texas!

3. Towne LakeLake Retail 3. Towne Retail

Towne LakeisRetail is located at the entrance of Lake Towne Lake Towne Lake Retail located at the entrance of Towne - anwinning award winning 2,400-acre residential community - an award 2,400-acre residential community with with overhomes 3,500 that homes that features a striking 300-acre recreation over 3,500 features a striking 300-acre recreation andluxurious offers luxurious lake andlake offers lakesidelakeside living. living.

HOUSTON HOUSTON B R O K E B R R AO G K E E R A G E

|THE THE WOODLANDS WOODLANDS|

COLLEGE | COLLEGE STATION STATION

FOR LEASING FOR LEASING INFO CONTACT: INFO CONTACT: MARY MARY CALDWELL, CALDWELL, CCIM, CCIM, SIOR SIOR MCALDWELL@CALDWELLCOS.COM MCALDWELL@CALDWELLCOS.COM 281.664.6636 281.664.6636

713.690.000 713.690.000

retail | office | medical | space for lease 2,340 SF available on second floor. Base rent $15.00 PSF & NNN $4.20 PSF

Excellent for retail, office or professional use

2,671 SF end cap on first floor, one lane drive through attach; Base rent $24.00 PSF & NNN $4.20 PSF

2 blocks west of Beltway 8

Kaleidoscope 10612 Westheimer Houston, 77042

WoodlanD Park Shopping Center

800 -7,350 SF available on first floor. Excellent for medical office. Base rent $15.00-$18.00 PSF & NNN $4.80 PSF

11380 Westheimer Houston, 77077

A A Realty Realty Co AA Co

Accredited Management Management Organization Accredited Organization

For more information call : Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108 eleung8888@aol.com www.aarealtytx.com

+/- 592â&#x20AC;&#x2122; of frontage on Westheimer

372 surface parking spaces available

Traffic counts - 82,880 CPD (Westheimer)

Pylon signage available

Aggressive lease terms

OLMOS CREEK SHOPPING CENTER AVAILABLE SPACES

14602 HUEBNER ROAD // SAN ANTONIO, TX 78230

RETAIL PROPERTY FOR LEASE // OLMOS CREEK SHOPPING CENTER // 14602 HUEBNER ROAD // SAN ANTONIO, TX 78230

TOTAL SPACE | 1,200 - 36,111 SF LEASE TERM | NEGOTIABLE LEASE RATE | NEGOTIABLE

LEASE TYPE

NNN; Ground Lease / Sale / Build to Suit

TOTAL SPACE

1,200 - 36,111 SF

LEASE TERM

Negotiable

LEASE RATE

Negotiable

• Situated on over 16 acres at the corner of Northwest Military Highway and Huebner Road in San Antonio, Texas. It is anchored by Planet Fitness, with occupied and available in-line space, a McDonald’s, a BBVA Compass Bank (both freestanding), and two additional pad sites for future development.

• Shop space is occupied by a strong line-up of national and local tenants • Surrounding demographics have strong sales histories at the Property.

SAN ANTONIO

TCP REALTY SERVICES, LLC Commercial Real Estate Investments and Services

RUBIN KREMLING, CPM, CCIM 713.805.8030 rkremling@tcprealty.com

TCP Realty Services, LLC

// 5858 Westheimer Road, Suite 800, Houston, TX 77057

// 713.243.6800

RUBIN KREMLING, CPM, CCIM 713.805.8030 rkremling@tcprealty.com

tcprealty.com

A NEW OFFICE DEVELOPMENT FOR LEASE IN NEW BRAUNFELS, TX UP TO 58,574 SF * EASY ACCESS TO IH-35 FLEXIBLE CUSTOMIZED LAYOUTS * BEAUTIFUL PARK-LIKE SETTING

NO W

For More Information:

TCP Realty Services, LLC

5858 Westheimer Road, Suite 800, Houston, TX 77057

LOREN GULLEY 210.841.9262

713.243.6800

tcprealty.com

www.parkviewplazanewbraunfels.com

MIKE YBARRA 210.601.1414

ING

ray’s buzz BY RAY HANKAMER rhankamer@gmail.com

O’Connor Office Forecast Luncheon – Speakers: Bryant Lach, JLL; Kevin Wyatt, Lincoln Property Company

Takeaway: Houston has a 24% vacancy of office space, including primary and sub-lease inventory, and it is not going away any time soon, as companies down-size, and, “right-size”, learning how to make do with less space than before the downturn in 2014. • On the positive side, Houston is attractive to out of town companies seeking to relocate, due to our lower cost of doing business and of living overall • There is a tiny bit of specialized pre-leased space under construction, but overall there is almost no new addition to supply BRYANT LACH JLL

• Prospective new tenants carefully evaluate location with regard to where their execs and employees live; I-10 / BW-8 / Memorial City / Westchase are in favor, as are locations near The Woodlands and the new ExxonMobil campus • Cities need a vibrant CBD but Houston’s size has resulted in satellite office clusters to minimize commute times

• Of the sub-markets, the Galleria area is strong, with a second consecutive quarter of new absorption • Tenants overall are downsizing and learning to live with less space for storage, law libraries, etc.

KEVIN WYATT LINCOLN PROPERTIES

• Different open-concept approaches to office space are being tried, but the jury is still out…some companies, like law firms require private offices, and execs dislike giving up ‘the corner office’ • Excess sub-lease space is being returned to landlords with gathering speed…landlords hate to chop up this space and are looking first for replacement large tenants

• Office owners in CBD are ‘pushing retail up from tunnel system to the surface’ to increase appeal of CBD for residential living

• Incentive being offered by landlords include one year free on a ten year lease, but incentives are beginning to top out as landlords evaluate what to do: sell their buildings, or renovate them to bring them up to date with new state-of-the-art buildings which are the ones in demand

• Houston jobs growth has been 27,000 in 2017; 45,000 in 2018; and projected to be 80,000 in 2019

• Higher tenant improvement / build-out budgets are one form of incentive available to new tenants • Lots of available space in Energy Corridor remaining; oil firms can expand quickly, or cut employees quickly depending on price of oil 18

NOVEMBER 2018

• The CBD needs to be more connected to transit to facilitate commuting from outlying suburbs

• Despite oil per barrel increasing from $26 to $66 per barrel in recent months, oil hiring has not picked up proportionately • Office space is a commodity and landlords are scratching their heads as to how to differentiate their space-some are creating Silicon Valley-like employee amenity/entertainment centers with bocce ball, putting greens, fitness centers, and garden areas

EXECUTIVE SUMMARY

OFFICE BUILDING FOR LEASE // THE SPECTRUM BUILDING // 5858 WESTHEIMER // HOUSTON, TX 77057

$3/SF BROKER BONUS*

GALLERIA / UPTOWN PARK

OFFICE BUILDING FOR LEASE // THE SPECTRUM BUILDING // 5858 WESTHEIMER // HOUSTON, TX 77057

THE SPECTRUM BUILDING 5858 WESTHEIMER // HOUSTON, TX 77057 AVAILABLE SF | ± 1,294 - 16,689 SF LEASE RATE | $18.00 - 22.00 SF/YR

• Within five minutes of the Property are five major highways and interstates including I-10, 610 (West Loop South), Highway 59 (Southwest Freeway), Westpark Tollway and Beltway 8. • Just 15 minutes from downtown Houston, and has convenient access to the Texas Medical Center and the Energy Corridor.

OFFERING SUMMARY Broker Bonus:

by 12/31/2018

• Spectrum is situated in the Galleria/Uptown office market, which encompasses Available SF: the upscale shopping/dining areas of Uptown Park, The Galleria, and the high income subdivisions of Tanglewood and Briargrove. Lease Rate:

• Westheimer to south has been annexed into St. George Place TIRZ

* FOR NEW LEASES COMMENCING AFTER 10/4/18 & SIGNED BY 12/31/18

PROPERTY OVERVIEW $3 psf for leases signed

± 1,294 - 16,689 SF

$18.00 - 22.00 SF/yr (Base Year)

Commercial Real Estate Investments and Services

Within five minutes of the Property are five major highways and interstates incl I-10, 610 (West Loop South), Highway 59 (Southwest Freeway), Westpark To and Beltway 8. It is also just 15 minutes from downtown Houston, and convenient access to the Texas Medical Center and the Energy Corridor. Ge Bush Intercontinental Airport, which serves 43 million passengers annual approximately 30 minutes to the northeast, and Houston Hobby Airport is 25 mi to the southeast of the Property.

± 2.08 Acres

The Spectrum Office Building provides for 408 covered spaces in the adj parking garage and 40 spaces in the adjacent surface parking lot for a very favo parking ratio of 3.2/1,000.

STAN McCORKLE 1981 832.515.4215 stanleymccorkle@gmail.com Building Size: ± 130,104 SF

Spectrum is situated in the Galleria/Uptown office market at the western edge area known as Uptown Houston, which encompasses the upscale shopping/d areas of Uptown Park, The Galleria, and the high income subdivisions of Tangle and Briargrove. There are 48 restaurants, cafes, and delicatessens within wa distance, affording a wide variety of dining options.

Lot Size:

Year Built:

TCP REALTY SERVICES, LLC

An eight story Class B office building that is 85% leased to multiple ten Spectrum boasts superior regional access and convenience to HoustonÕs exte transportation network, and its key centers of commerce.

ANDREW HADLEY 832.982.3226 hadleyandy@icloud.com

RUBIN KREMLING, CPM, CCIM 713.805.8030 rkremling@tcprealty.com RUBIN KREMLING, CPM,

DEVELOPMENT OPPORTUNITY TCP Realty Services, LLC

// 5858 Westheimer Road, Suite 800, Houston, TX 77057

TCP Realty Services, LLC

// 713.243.6800

// 5858 Westheimer Road, Suite 800, Houston, TX 77057

tcprealty.com

// 713.243.6800

LAND FOR SALE 444 ACRES

MONTGOMERY CO., TX $14,900/Acre Excellent location and road frontage in Willis ISD. Approximately 5 miles east of I-45. Good topography and timber with merchantable pine and huge hardwoods.

Andy Flack, Broker / ALC 936-295-2500 www.HomeLandProperties.com | www.HomeLandLand.com

713.805

rkremling@tcprealt

tcprealt

Nick Massad Interview

AMERICAN LIBERTY HOSPITALITY

BY RAY HANKAMER

RN: Nick, you and I met back in the ‘80s when we were trying our best to weather the Oil Depression and the horrible hotel slump. I never thought to ask you: How did you first come to be in the hotel industry? Nick: I cooked, waited tables, and worked night audit in hotels in high school and college. I heard about the UH Hilton School of Hotel & Restaurant Management about that time. I moved to Houston, graduated from the Hilton School, and was hired as Food and Beverage Manager at a Sheraton hotel, and was promoted to General Manager there in 1975. RN: When did you first go out on your own? What were your first developments?

Nick: Yes, the Hilton Galleria Garden Inn was one of the first, and it ramped up to break even in only five months, faster than any other hotel we have built. It continues to be very successful, and it was our first hotel under any Hilton brand. The UH Hilton School changed my life and I had always hoped to do business with the Hilton brand. In 2007 our family made a large donation to the college, which was used to build the Massad Family Library and Hospitality Industry Archives, the only one of its kind in the world. RN: Can you give us a run-down of the existing Houston hotels and brands in your portfolio, and was there any one which was especially challenging to develop?

Nick: Following the success of our dual branded Hampton Inn and Homewood Suites in downtown Houston, we plan to break ground on two new dual brands: one in the Galleria and one in the Texas Medical Center. Combining two hotels within one building is more efficient to build and to operate, since the concept combines two distinctly different hotel products to the traveler-i.e. a regular room and an extended stay room.

Nick: The owner of American Liberty Hospitality sold the business to me in 1990, twenty-eight years ago. We began managing hotels for others, and then began to acquire hotels. In 1999 we built our first hotel from ground up, Cypress Bend, a golf resort in central Louisiana. RN: I know one of your hugely successful hotels is the Hilton Garden Inn on Sage in the Galleria. Wasn’t it one of the first Garden Inns to be built? I know you have always been active and have been a big donor of time and money to the UH Hilton School. When did your first relationship with Hilton as a franchisee begin?

Nick: In 2010 we began developing hotels in the Houston CBD, including the Embassy Suites, the Sam Houston Hotel, and the Hampton Inn-Homewood Suites. The Embassy Suites next to Discovery Green, with 262 suites, was especially challenging, because it was on a tiny site of 17,500 SF. Our Houston architects Mitchell Carlson Stone ‘shoe-spooned’ the hotel onto the site and it was so accepted by the traveling public that it has won Hilton’s “Connie Award” three times, the highest honor within the Hilton system, named after the founder, Conrad Hilton. RN: You have a bunch of new developments in the pipeline, including in the Medical Center and the Galleria.

NOVEMBER 2018

Can you give us an early peek at what is on the drawing board?

RN: Some hotel developer-owners are just asset flippers, but operations are the heart of our industry. The most successful developers love operations instead of thinking of them as a necessary evil. I know you are a family company. Do you have a family member coming up through the ranks? Nick: You are right-hotels are part real estate and part an operating business, and without a good operator, the ground and building have less value. We are operators at the core. We build for the long hold, selling 5-10 years following stabilization, or longer if a hotel becomes a legacy asset. Vicki and I have three children and they all have active roles in our corporate development and operations teams. We are thrilled that our children all want to follow us in the business, and…all three are graduates of the University of Houston!

DISTRIBUTION/MANUFACTURING FACILITY FOR SALE OR LEASE STATE HWY 19 & FM 3453 Located Within Three Texas Shale Plays Including Eagle Ford

TRINITY, TEXAS

• Formerly utilized as Oil Based MUD Plant w/$1.5 Million in Equipment Also Available if Desired • 11,500 SF Manufacturing Building w/Overhead Crane • 16 Acres Total • Tax & Economic Development Incentives

WALTER WHITE, BROKER ASSOCIATES

936-293-0367 | Waltersells24x7@yahoo.com Anderson Properties

ARMAND BAYOU VIEW

Waterfront Property on North Shore of Clear Lake Close proximity to Johnson Space Center 4949 E Nasa Parkway

SUNSET VIEW

CLEAR LAKE VIEW

2.6 ACRES NO ZONING

Contact: Thomas Hitchcock, Broker, CCIM

tomhitch@teleshare.net

713-254-3105

Bedford Burgher CEO

Clint Haggard President

Jeremy Sweek Managing Director of Real Estate Services

Breaking it down with Burgher Haggard How outsourced accounting can save money BY BRANDI SMITH

Real estate is a survival-ofthe-fittest kind of industry, rewarding those who are efficient with their capital and operations while punishing those who aren’t. Burgher Haggard, a firm that specializes in outsourced accounting and administration, considers their clients to be in the former group. 22

NOVEMBER 2018

“Beyond providing a service platform that centers around people, process and technology, we give our clients flexibility to expand and contract their accounting function with the cycles of their business,” says Clint Haggard, President of Burgher Haggard. “This is a great alternative compared to having an internal team that you have to pay whether you’re busy or you’re still waiting for your next deal to close.” The company is, at its core, an accounting outsourcing firm for clients across the country with complex assets, handling services in a more efficient manner than might be possible within the client’s organization. Burgher Haggard focuses on financial administration, consolidated reporting and consulting. The company is currently responsible for the accounting and administration of roughly $4 billion in assets, half of which is related to clients who are real estate investors and developers. “From high-potential startups to companies worth hundreds of millions, our real estate clients come in all shapes and sizes,” says Jeremy Sweek, Managing Director of Real Estate Services for Burgher Haggard. “Sometimes our clients have internal resources such as a CFO or a construction coordinator that we work with, and other times we are the complete accounting solution for our clients.”

Sweek, a CPA who started his career in public accounting and then gained many years of finance and accounting experience with Crescent Real Estate, has spent the past eight years building the real estate practice for Burgher Haggard. “I’m so proud of the team, the processes and technology we have today,” says Sweek. “Anyone who has ever established an internal accounting department can appreciate how much time and resources are required to do that well.” Because of the incredible value found in technology that can aid in the accounting and reporting process, Burgher Haggard hasn’t skimped when it comes to making an investment in tech. “Real estate owners could spend several hundred thousand dollars or more on software, consulting and internal staff time to build out an internal solution comparable to the tools and reports that Burgher Haggard provides,” Sweek says. “This is a really important aspect of our value proposition. Burgher Haggard clients are getting the benefit of all of that technology and intellectual capital on day-one, and at a fraction of the cost.” “A private equity fund, for example, could have 50 or 100 different investors and the general partner of

that fund would be responsible for reporting discrete information to each of those investors such as capital statements and K-1s,” explains Sweek. “That’s a responsibility we handle for our clients through our technology and expertise.” The experience of the Burgher Haggard team is something that is difficult to measure, yet it’s another valuable asset at the disposal of clients.

There is an element of comfort and security for real estate investors when the general partner or sponsor outsources the accounting function. “We have a lot of shared knowledge when it comes to real estate developers and owners that indirectly

“

benefits our clients,” says Haggard. “For example, if a client is struggling with an issue, we’ve probably seen that before and can help them think through some possible solutions.” “At Burgher Haggard, every client, regardless of size, benefits from our internal controls and segregation of duties,” says Haggard. “Smaller companies with an internal accounting team could have their controller paying the bills, reconciling the cash and generating the financial statements which elevates a number of financial and business continuity risks for that organization. At Burgher Haggard, we even have an outside firm audit and sign-off on our processes and controls every year.”

“Many investors like to see that separation between the general partner and the accounting function,” adds Sweek. “In fact, another benefit to paying a 3rd party to perform the accounting is the ability to pass along that expense to the limited partners of the investment, whereas it is a much harder argument for the general partner to pass along internal accounting costs that could be viewed as subjective.” Burgher Haggard also helps with another business-related challenge: managing and maintaining an internal accounting staff.

I’m so proud of the team, the process and technology we have today. – Jeremy Sweek

“

and improve your business

We have a team of about 40 professionals including 16 CPAs, so managing an accounting staff is central to what we do, but it doesn’t have to be the focus for our clients,” says Haggard. “Let us worry about recruiting, hiring, and training accountants.” In the dog-eat-dog world of real estate, it helps to have a stable of specialists to lean on when needed. Burgher Haggard provides that stable, along with technology and other assets that would be near impossible to match. “We’re very good at what we do,” Haggard says. “And this frees our clients to work on what they do best – managing and growing their business.” NOVEMBER 2018

PAD SITE

REDEVELOPMENT REDEVELOPMENT OPPORTUNITY OPPORTUNITY

PAD SITE AVAILABLE AVAILABLE 9045 HWY 6 SOUTH @ BISSONNET HOUSTON, TX

9045 HIGHWAY 6 SOUTH @ BISSONNET, HOUSTON, TX

4704 AIRLINE DRIVE, HOUSTON, TX 77022

DOWNTOWN

LAND SF: ± 84,550 sf

TEXAS

GREATER HEIGHTS

SALE PRICE: Call for pricing

CAMDEN HEIGHTS APTS.

426,114 CPD FEATURES: • Across from Fiesta • Visibility from I-45 • Redevelopment Opportunity

lin Air

JUSTIN PATCHEN O: (713) 222-1400 C: (713) 299-9040 Justin@BuffaloREP.com

www.BuffaloREP.com

.) E ST D(

(FUTURE MIXED USE DEVELOPMENT)

AVAILABLE 1.375 ACRES

H 58 IGH ,9 WA 22 Y CP 6 D

10 CP

+/- 2.9 ACRES

ALEXAN YALE STREET

17,000 CPD

FOR INFORMATION: JUSTIN PATCHEN | 713-222-1400

50,6

Bissonnet St

STUDEMONT AT I-10

HOUSTON

BUILDING SF: ± 17,631 sf

SUMMER ST MULTI-FAMILY DEVELOPMENT

BUILDING SF: +/- 17,631 sf

FEATURES: • Available for Sale, Ground Lease or Built to Suit • High profile pad site within main Fort Bend Retail thoroughfare • High traffic center anchored by Kroger, LA Fitness, & Petco • Utilities to the site

LAND SF: +/- 84,550 sf FEATURES: • Across from Fiesta • Visibility from I-45 • Redevelopment Opportunity • Available for Sale or Lease

AVAILABLE 3.5 ACRES

STUDEMONT

BUILDING SF: +/- 2.9 Acres

ACCESS

(375 UNITS)

SHARED

round t within ail

PREMIER INNER LOOP DEVELOPMENT SITES

HICKS ST

FEATURES:

Two shovel ready sites, directly off of I-10 at Studemont, within the Studemont Street Junction development. These sites are within walking distance to grocers, restaurants, retailers, medical, multifamily, and the Washington Arts District. With freeway visuality and ease of access to over 425,000 cars per day, makes this a premier infill location.

RETAIL CENTER FOR LEASE

DOWNTOWN OFFICE FOR LEASE

LAND FOR SALE ±3 to 25 ACRES

6010 WASHINGTON AVE, HOUSTON, TX 77007

1417 CONGRESS AVE, HOUSTON, TX 77002

BELTWAY 8 @ KIRBY DRIVE, PEARLAND, TX 77047

KIRBY

Tract 1 ±25 Acres

JUSTIN PATCHEN AVAILABLE SPACE: +/- 5,060 sf (Divisible)

AVAILABLE SPACE: 2,700 sf, up to 8,100 sf (Entire Bldg.)

FEATURES: • End Cap Available • Great visibility on the Washington Roundabout • Dense population within 1 mile • 1 Mile Avg. HH Income $161K

FEATURES: • 1 Block from courthouses • Entire first floor • Potential for Entire Building • Great foot traffic downtown • Historic Building

TRACTS AVAILABLE: 1 = +/- 25 Acres (Divisible) 2 = +/- 11.5 Acres (Divisible) 3 = +/- 7 Acres (Divisible) FEATURES: • Located within TheLower Kirby District • Utilities to the Site • Regional Detention Available • Signalized Hard Corners

(713) 222-1400 Justin@BuffaloREP.com www.BuffaloREP.com

GReenberg & Company Commercial Real Estate Brokerage Firm

Retail/Office Space Available | Great Locations GALLERIA AREA

GREENWAY PLAZA

WESTCHASE DISTRICT

GREENWAY/UPPER KIRBY

2930 Chimney Rock | Houston, TX 77056

3815 Richmond | Houston, TX 77027

9703 Westheimer | Houston, TX 77063

4001 Richmond | Houston, TX 77027

RETAIL/OFFICE SPACE AVAILABLE

RETAIL SPACE FOR LEASE Excellent Location • High Foot Traffic

RETAIL PROPERTY FOR LEASE

Prime Intersection • High Exposure

Major Thoroughfare • Excellent Visibilty

Lorem ipsum

High Traffic Counts • Great Visibility This office building is located in the Galleria area between Richmond Ave and Westheimer. The property sits on the lighted corner of Chimney Rock and Winsome/Hildagos. Easy access to 610 Loop, I-69, I-10 and Westpark Tollway.

4,000 SF AVAILABLE

Price: Call For Details

Multi-tenant retail shopping center located on . the southeast corner of Richmond at Weslayan. Between the Central Business District, Texas Medical Center and Galleria/ West Loop. Adjacent to Edwards Theatre and Lakewood Church.

3,190 SF AVAILABLE 2,175 SF AVAILABLE

Price: Call For Details

Multi-tenant retail shopping center located in the A two-story building situated on the southwest corner of Westheimer and S. Gessner. It is west Greenway/Upper Kirby Area. It sits on the southwest corner of Richmond and Weslayan. It is across the of Loop 610 and the Galleria, south of the Katy Freeway and one mile east of the Sam Houston street from Edwards Theatre and in close proximity to Lakewood Church. Parkway. Major thoroughfare along Westheimer.

4,480 SF AVAILABLE

Price: Call For Details

2,223 SF AVAILABLE

Price: Call For Details

The information contained herein was obtained from sources deemed reliable; however, no guarantees, warranties or representations are made as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.

5959 Richmond Avenue, Suite 440 Houston, TX 77057 WWW.GREENBERGCOMPANY.COM

Broker Contact: David Greenberg | Phone: 713-778-0900 EMAIL: DAVID@GREENBERGCOMPANY.COM

civil fair play

How can drones, 360 photography, 3D visualization, and virtual reality add value to your next project? RUSSELL THOMMAN, PROJECT MANAGER, STANTEC

In-person meetings are irreplaceable, and no matter the challenges, communication is paramount. But what if your project team is in multiple cities, across multiple companies, located all around the world? A project team needs to maintain clear and constant communication, and transparency in collaboration is a must.

With drones, we can fly a preprogrammed flightpath, helping to visualize a site layout, or a view from a building floor.

At Stantec, our project teams have found tremendous value for our clients and their projects through leveraging technology like unmanned aerial vehicles (UAS or more commonly, drones) and virtual reality (VR) to better capture, analyze, and communicate site design information.

All of this info can also be shared, often through a web browser, to all stakeholders involved, giving all parties a clear and consistent picture of a site. Through a VR headset, you can also take a virtual walk through a site to better understand site challenges.

How are land developers using drones? It can be cost prohibitive to take an entire project team to a site visit. By using a combination of drones, 360 photography, and geolocated photos, we are able to clearly document a site for preliminary design or even construction. In many cases, maybe 10% of a project team may ever put boots on the ground, but by sharing our virtual site visit with the team, we can get as many experts identifying opportunities/challenges as possible, catching problems before they arise further into design.

Adding value to site design In architecture, the process of leveraging building information modeling (BIM) has rapidly matured over the last 10-15 years, and this process is often very streamlined and efficient. In land development services, this process is still evolving. Many companies use a variation of 2D and 3D drafting softwares, and many times these softwares are not compatible with other disciplines. Coordinating this process can be tedious to do well.

Russell Thomman, a project manager in Stantecâ&#x20AC;&#x2122;s landscape architecture and planning studio in Austin, uses his drone at Lakeway Medical Center to gather 360-degree spherical photography for a virtual site visit.

NOVEMBER 2018

National Instruments Aerial: By designing in 3D and communicating with virtual reality goggles, Stantec made the National Instruments redesign a reality.

Design communication is critical to any project, and our landscape architecture studio utilizes photorealistic 3D visualization tools to bring together civil, landscape, and architecture models to give our clients and project teams a coordinated, transparent, multi-disciplinary view of a proposed design.

From due diligence and programming, to documentation and construction administration, every step of the design process must be carefully crafted and communicated. A lapse in communication can lead to lost time and money for a project team. Therefore, we embed 3D visualization and virtual reality into our design process. By investing our time into developing 3D models, we learn from what we build. We coordinate in 3D, sharing our models with consultant teams, resolving early design conditions that would often be missed in 2D, saving time and effort with RFIs later. We can understand exactly what a view would be from inside a building without having to physically build it. We step into the model in VR and understand what a design feels like at the human scale to get a better product. Through this workflow, we produce opportunities for QA/QC for all consultants as we work together to visualize the project, and by viewing these coordinated models together, we each gain a clear understanding of project opportunities and constraints.

civil fair play

National Instruments 3D Visualization: 3D visualization helped Stantec showcase the opportunities possible in the courtyard of National Instruments.

Using 3D modeling and virtual reality on your next project

National Instruments Outdoor Space: The final courtyard for National Instruments includes an outdoor huddle space, bocce ball, outdoor kitchen, and a biergarten.

make tough decisions as project budgets tighten. We’ve seen the benefits of 3D modeling and VR on countless projects and encourage teams to keep these technologies top-of-mind when embarking on a new site design.

Drones and VR are tools for today’s (not tomorrow’s!) designers. For decades, landscape architects have held the role of balancing the site aesthetic with site engineering. Pretty picture with technical documentation, and organic with manmade. We utilize systems thinking to connect the human experience to all the infrastructure on site, as well as to its context.

About Russell Thomman Russell Thomman is a project manager in Stantec’s landscape architecture and planning studio in Austin, Texas. With a decade of experience in landscape architecture, urban planning, and project management, his work includes projects in nine different countries. Russell spearheads 3D visualization and virtual reality for community development projects in Austin, and he has his FAA Airman Certificate for Small Unmanned Aircraft Systems (sUAS)—allowing him to fly drones commercially.

On projects large and small, we leverage these tools to get designs started in the right direction, keep them moving efficiently, and help give owners confidence to

Protecting Property Owner’s Rights

EMINENT DOMAIN Compensation For Property Lost Due To:

Roads Pipelines Power Lines www.ShowalterLaw.com 281-341-5577 Info@ShowalterLaw.com

TEXAS 1031 EXCHANGE EXPERTS

Asset Preservation, Inc. (API), is a leader, both in Texas and nationally, in the 1031 exchange qualified intermediary Asset Preservation, Inc. (API), is a leader, both inthe Texas and industry. API is committed to providing investors highest nationally, in the 1031 exchange levels of experience, expertise andqualiﬁed securityintermediary of funds in the industry. theand highest industry. API API is committed relied upontobyproviding all levels investors of investors Corporate America. expertise and security of funds in the levels of experience, industry. API is relied upon by all levels of investors and GREG LEHRMANN CINDY PHAM Corporate America. North Texas Division Manager/VP South Texas Division Manager 512.551.4232 greg@apiexchange.com

GREG LEHRMANN North Texas Division Manager/VP 512.551.4232 greg@apiexchange.com

281.923.4269 cindy@apiexchange.com

A National IRC §1031 “Qualiﬁed Intermediary”

apiexchange.com

A National IRC §1031 “Qualified Intermediary”

apiexchange.com

Call for a free consultation Call for a free consultation

CINDY PHAM South Texas Division Manager 281.923.4269 cindy@apiexchange.com

ray’s buzz BY RAY HANKAMER rhankamer@gmail.com

BoyarMiller Capital Markets Breakfast Forum Speakers; Mark Montgomery, Houston Market CEO, BBVA Compass Bank; Ali Nasser, Principal, AltruVista Equity; Scott Winship, Managing Director, Gulfstar Group-Private Equity & M&A Takeaway: The local and national economies are hot, but prudent businesses are thinking and planning ahead to be ready for the next (inevitable) recession. Where are we now in the economic cycle? • Economy is still expanding but is in the late stage of the current cycle, which has lasted ten years so far • There is a lot of borrowing going on and businesses are feeling comfortable taking riskslending/borrowing has been ‘cheap and easy’

When will the recession come, and what should one do to plan for it? • The recession could hit mid-to late 2020 but no one really knows • M&A activity usually has a six year cycle-we are in the 8th year

• There are lots of mergers & acquisitions (M&A) going on, but buyers are paying full price and more, hoping to improve productivity of acquired company

• Old stodgy established brand companies are looking for groovy new acquisitions to show they are still in the game, and can continue to appeal to contemporary customers

• The Feds are slowly raising historically very low interest rates to head off possible inflation, which puts a damper on business values because more cash will be needed to service debt

• If the Feds raise interest rates quickly, that could hasten the recession, and vice-versa

• Many businesses are experiencing ‘their best year ever’ and there is lots of momentum going forward, with a 4% growth rate in the national economy • We are in an inflated market, with values 5-15% too high-business owners / managers should prepare now for recession so they do not panic when it hits • There is over $1.5 trillion buying power on the sidelines looking for yield, a huge overhang of excess capital • New funds are having an easy time raising money 28

NOVEMBER 2018

• Now is a good time to sell your business while buyers are paying premium rates-thorough preparation is critical in packaging your company to take it to mark-remove any question marks a buyer may have in advance of putting it up for sale • Operating businesses should establish a cash cushion to carry them through the unforeseen circumstances which always accompany a downturn • Give your business a stress test now: what would happen if suddenly you lost one or more of your best customers, or hit other major snags? • Every economic bubble stems from relaxing of discipline, and so far no great departure from discipline has made itself visible in our economy

• Business owners are people of action and when a recession hits, sometimes they take hasty and unwarranted actions which increase the negative impact-best strategy is to prepare, wait and see, and look for opportunities that can be picked up at favorable prices • The onset of a recession is not a time to panic and to depart from your established successful business plan-avoid knee-jerk reactions

What will be the impact of tariffs on the economy and business climate in general? • So far minimal, but the initial tariffs have not yet had time to filter down, nor have other countries gotten all of their reciprocal tariffs against us in place • They are worrisome and concerning since they don’t seem to be part of a cohesive plan and in past business cycles imposition of tariffs has not had a happy ending for the US or world economies • The administration is playing with fire • They create new and un-needed risks for the economy going forward

REAL ESTATE

DECEMBER FOCUS

PRIVATE LOANS

INDUSTRIAL OFFICE VACANT LAND TEXAS ECONOMIC HOT SPOTS

Equity Secured Capital

PLEASE CONTACT ME BY MONDAY, NOVEMBER 12TH TO RESERVE YOUR SPACE

Texas Direct Private Lender Close in 7 Days

Ginger Wheless 713.661-6300 ginger@rednews.com www.rednews.com

www.equitysecured.com 512-732-8338

PRIME DEVELOPMENT PROPERTY IN GROWTH PATHWAY

CONROE

I-45 North @ River Plantation · 37.6 acres just south of Johnson Development’s Grand Central Master Planned Community

RIVER PLANTATION DRIVE

· Excellent access from north & south bound lanes · Close to Woodlands/ Conroe/Exxon Mobil Campus · Utilities Available · Will Divide · $15 per sq ft

Meredith Cullen USMC Veteran 713.444.7979

Jay Shaw USMC Veteran 281.546.9237

mtcullen@cullenrealtygroup.com

jshaw@cullenrealtygroup.com

THE WOODLANDS

Stop Spinning Your Wheels!

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

www.PhaseEngineering.com

SCOOP The following pages contain a calendar of Texas CRE events, networking photos, and deals/announcements. For more updates, log on to REDNews.com present present

present

he Date to Hear From TopOffice Industry Pioneers • Industrial • Retail • Multifamily • Hospitality • Brokerage 2019

• Industrial • Retail • Multifamily •Lessons Hospitality •Service Brokerage Company & Investment Learned From Their Past • Development For More Information, Location, Speakers and Registration: Service Company • Development & Investment www.resummits.com/DALLAStrailblazer Success and Failures January January January Where Do The Pioneers See The NEW ioneers See The NEW Do Not Miss This Opportunity to Hear ities Evolving? Opportunities From TheseEvolving? Industry Titans 2019 2019 2019 Sponsorship Opportunities Available, Contact: ed From Their Past For More Information, Location, Speakers and Registration: For More Information, Location, Speakers and Registration: Jeff Johnson | Real Estate Summits | 952-405-7780 Lessons Learned From Their| jeff.johnson@resummits.com Past For More Information, Location, Speakers and Registration: www.resummits.com/DALLAStrailblazer www.resummits.com/HOUSTONtrailblazer and Failures Ginger Wheless | REDNews | (713) 661-6300 | Ginger@rednews.com

s Opportunity to Hear e Industry Titans

ities Available, Contact:

Success and Failures

16 18

www.resummits.com/DALLAStrailblazer

January

Central South Texas Do Not Miss This Opportunity to HearNorth Texas 2019

These Location, Industry Titans For From More Information, Speakers and Registration:

Southeast Texas

CENTRAL SOUTH TEXAS

NOVEMBER

2018 1 Thursday

BOMA Austin - Oracle Tour & Networking Event w/ IREM Austin [4:00pm - 6:00pm] IREM Austin - Oracle Tour & Networking Event w/ BOMA Austin [4:00pm - 6:00pm] REC Austin - Membership Appreciation & Recruitment Party [5:30pm - 7:00pm] ULI San Antonio - Insider Tour: The Burns Building + Playland Pizza! [5:30pm - 7:30pm]

Monday

CCIM Central Texas - CI101 Course [7:30am - 6:00pm] REDNews Newsletter [4:00pm]

Tuesday

CCIM Central Texas - Chapter Social [5:30pm - 7:30pm]

Wednesday

REC San Antonio - Fifth Annual Speaker Series: Herbert Weitzman [11:30am - 1:00pm] REC Austin - Policy Committee Meeting *Members Only [12:00pm - 1:00pm] CTCAR - Ping Pong & Networking [5:30pm - 7:30pm] IREM Austin - Planning Meeting for 2019 Leadership [6:30pm - 8:00pm]

Thursday

10 Saturday

CTCAR - Property Information Exchange [7:30am - 9:00am] ULI Austin -Coffee Chat (North): Learn How To Get Involved With ULI [8:00am - 9:00am] ULI San Antonio - Financing Public Improvements in Todayâ&#x20AC;&#x2122;s Capital Market [11:00am - 1:00pm] BOMA Austin - Personal Brand & Business Etiquette 101 [11:30am - 1:30pm] CREW Austin - 12th Annual CREW Careers [11:30am - 4:00pm] ULI Austin - Young Leaders Cheers & Chat: Tech in Real Estate [5:30pm - 7:00pm] CREW Austin - Sips & Salsa Benefiting St. Louise House [6:30pm - 10:30pm]

NOVEMBER 2018

12 Monday

13 Tuesday

CTCAR - Governmental Affairs Committee Meeting [1:00pm - 2:30pm] REDNews Newsletter [4:00pm] REDNews December Issue Deadline [5:00pm] ULI San Antonio - Luncheon: The Future of Mobility with Jeff Tumlin [11:00am - 1:00pm] CREW Austin - Luncheon: UT Austin Space Allocation [11:30am - 1:00pm] IREM Austin - Luncheon [11:30am - 1:00pm]

14 Wednesday

CBA Austin - Luncheon [11:30am - 1:00pm]

15 Thursday

BOMA Austin - Luncheon: Recruit & Retain Talent for Your Culture [11:30am - 1:30pm] TABB Austin - Luncheon [11:30am - 1:00pm]

19 Monday

REDNews Newsletter [4:00pm]

22 Thursday

Thanksgiving Holiday

26 Monday

REDNews Newsletter [4:00pm]

27 Tuesday

BOMA Austin - Fall 2018 Community 1st! BOMA Volunteer Workday [9:00am - 4:00pm] CCIM Central Texas - Networking Luncheon [11:30am - 1:00pm]

28 Wednesday

ULI Austin - Monthly Breakfast: Capital Markets [7:30am - 9:00am] CTCAR - Luncheon [11:30am - 1:00pm] TABB San Antonio - Luncheon [11:30am - 1:00pm] REC Austin - Regional Issues Committee in San Marcos *Members Only [12:00pm - 1:30pm]

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.

BOMA AUSTIN: bomaaustin.org/ BOMA SAN ANTONIO: bomasanantonio.org CBA: cbaaustin.org/ CCIM CENTRAL TEXAS: ccimtexas.com CREW AUSTIN: crewaustin.org

CREW SAN ANTONIO: crew-sanantonio.org CTCAR: ctcaronline.com IREM AUSTIN: iremaustin.org IREM SAN ANTONIO: iremsanantonio.org

whatâ&#x20AC;&#x2122;s going on

RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com TABB AUSTIN: tabb.org/austin_chapter.php

ShootOut

BOMA AU STIN

CTCAR Commercial Real

Gayle Berkbigler Golf Tournamen has a mean swing @ the CCIM t at Flintrock Central Texas

Estate Analysis course

, CCIM

taught by Todd Kuhlmann

TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org

and Ranch

House Gam

es at Reun

ion Ranch

ate Analysis CTCAR Commercial Real Esthlmann, CCIM Ku course taught by Todd

L-R Travis Waldrop, Rob Eaves, CJ Chaney, Nina Farrell, Gayle Berkbigler NOVEMBER 2018

NORTH TEXAS

NOVEMBER

2018 1

Thursday

BOMA Fort Worth - Dine & Dash 2018 [5:00pm - 8:00pm]

Monday

IREM Dallas - Capstone/MPSAXM [8:00am - 5:00pm]

Tuesday

North Texas CCIM Chapter

15 Thursday

CCIM North Texas - Luncheon [11:30am - 1:00pm] IREM Dallas - November Industry Awards [11:30am - 1:30pm]

REDNews Newsletter [4:00pm]

IREM Fort Worth - Chili Cookoff Luncheon in Alliance [11:30am - 1:00pm]

BOMA Fort Worth - Luncheon [11:00am - 1:00pm]

Greater Fort Worth Association of Realtors Overwhelmed & Underknowledged [1:00pm - 3:00pm]

BOMA Fort Worth - Allied Town Hall Meeting [1:00pm 2:30pm]

BOMA Dallas - Real Estate Principal Member Event [5:00pm - 7:30pm]

BOMA Fort Worth - Social Activities Committee Meeting *Invitation Only [3:00pm - 4:30pm]

Wednesday

CREW Fort Worth - Luncheon: Commercial Real Estate is Ropinâ&#x20AC;&#x2122; It In [11:30am - 1:00pm] BOMA Dallas - Allied Business Exchange [3:00pm - 7:00pm] TREC Dallas - Power Hour: The Union Tour [5:00pm - 7:00pm] REC Greater Fort Worth - Cowtown Poker Run [6:00pm - 10:00pm]

9 Friday

BOMA Fort Worth - Education Committee Meeting *Invitation Only [10:00am - 11:00am] BOMA Dallas - James Bond Gala [7:00pm - 11:00pm]

ULI North Texas - CFL Program Day #3: Financing, Competitive Realities & Capital Markets [8:00am - 6:30pm]

BOMA Fort Worth - Holiday Board Meeting *Invitation Only [5:00pm - 7:30pm]

19 Monday

REDNews Newsletter [4:00pm]

22 Thursday

Thanksgiving Holiday

26 Monday

REDNews Newsletter [4:00pm]

28 Wednesday

ULI North Texas - 2019 Emerging Trends [7:30am - 10:30am]

29 Thursday

TREC Dallas - Speaker Series: Community Impact [11:30am - 1:30pm]

12 Monday

REDNews Newsletter [4:00pm] REDNews December Issue Deadline [5:00pm]

REC Fort Worth - Jingle & Mingle Holiday Party [5:30pm - 8:00pm]

13 Tuesday

BOMA Dallas - Luncheon [11:00am - 1:00pm]

CREW Fort Worth - Jingle & Mingle Holiday Party [5:30pm - 8:00pm]

14 Wednesday

BOMA Fort Worth - Allied Council Committee Meeting *Invitation Only [11:30am - 1:00pm] ULI North Texas - Next Tour with WLI [4:30pm - 6:30pm]

NOVEMBER 2018

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.

BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS: ccimconnect.com/ ccimnorthtexas CORENET NORTH TEXAS: northtexas.

corenetglobal.org CREW DALLAS: crew-dallas.org CREW FORT WORTH: crewfw.org GFWAR: gfwar.org IREM DALLAS: irem-dallas.org

Spo h Texas

rt CCIM No

neral lun

ment Ge

TABB DALLAS/FORT WORTH: tabb.org/dallas_ ft_worth_chapter.php TREC DALLAS: recouncil.com REC GFW: recouncilgfw.com ULI NORTH TEXAS: northtexas.uli.org

CCIM North Texas Sportin – Jeff White, Greg VanBolg Clays Tournament Winning Team is, Ladd Webber, John Kap pus

what’s going on

a ys Tourn rting Cla

IREM FORT WORTH: fortworthirem.org LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR: scr-fw.org

nity Event

Ladies in CRE #WellCommu

Debi Carter and Ralph Bullard

Ladies in CRE #W ellCommunity Ev ent

Ladies in CRE #WellCommunity Event

NOVEMBER 2018

SOUTHEAST TEXAS

NOVEMBER

2018 2 Friday

Monday

CREN Gulf Coast - Luncheon [11:00am - 1:00pm]

15 Thursday

BACREN - Luncheon [11:30am - 1:30pm]

IREM Houston - Financing & Loan Analysis [8:00am - 5:00pm]

16 Friday

IREM Houston - Luncheon: Cyber Security [11:30am - 1:00pm]

ACRP - 2018 Golf Classic [10:00am - 5:00pm] REDNews Newsletter [4:00pm]

Wednesday

BOMA Houston - Tenant Amenities Seminar [8:00am - 10:00am] IREM Houston - Performance & Valuation of Investment Real Estate [8:00am - 5:00pm] CREW Houston - Luncheon, Will Crypto Revolutionize Real Estate? [11:30am - 1:00pm]

8 Thursday

CCIM Houston/Gulf Coast - Luncheon [11:30am - 1:00pm]

9 Friday

IREM Houston - Asset Analysis of Investment Real Estate [8:00am - 5:00pm]

12 Monday

REDNews Newsletter [4:00pm]

20 Tuesday

FBSCR - Monthly Meeting [8:00am - 9:00am]

22 Thursday

Thanksgiving Holiday

26 Monday

REDNews Newsletter [4:00pm]

29 Thursday

TABB Houston - Chapter Meeting [11:30am - 1:00pm] ULI Houston - Luncheon: Emerging Trends [11:30am - 1:30pm] CREN Gulf Coast - Happy Hour [4:30pm - 7:00pm]

CORENET Houston - Golf Tournament [11:00am - 6:00pm] REDNews Newsletter [4:00pm] REDNews December Issue Deadline [5:00pm]

14 Wednesday

19 Monday

BOMA Houston

ympics

Maintenance Ol

CREAM - Luncheon [11:30am - 1:00pm] Oâ&#x20AC;&#x2122;Connor & Associates - Industrial Forecast Luncheon [11:30am - 1:00pm]

N BOMA HOUSTO 36

NOVEMBER 2018

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.

ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com

CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com

whatâ&#x20AC;&#x2122;s going on

GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org

NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org

L-R Vu Truong, Patricia Bor al, Brad White, Paul Daily.p

CREN

ACRP ACRP Octoberfest at Heights Biergarten

L-R Meagan Lahti, Ashley Casterlin, Kayla Holley, Lacee Wilke, Angelina Hsieh

CREN

lf Tournament

lf Coast 2018 Go

Gulf Coast Bowl-a-Thon L-R Mark Rafail, JP Betts, Steven Stone, Joe Foty.

CCIM Houston Gu

NOVEMBER 2018

CENTRAL SOUTH TEXAS Eric Carville has joined Cushman & Wakefield as Director – Market Lead of the Project Development Services group in Austin.

AUSTIN, TX

NO.

ULI RANKS AUSTIN ULI’s “Emerging Trends in Real Estate US & Canada 2019” ranks Austin as No. 6 on their list of top spots.

AUSTIN SELF-STORAGE REPORT

Marcus & Millichap reports that Austin has more than 1.5 million sf of self-storage space scheduled for delivery during the second half of this year which is a record number. Renter demand is expected to rise during the summer months & vacancy is projected to be below 10 percent.

TFC’s CAPITOL COMPLEX OFFICE DEVELOPMENT Texas Facilities Commission (TFC) has approved construction of the first phase of their master-plan which includes a 420,000 sf office building at 1601 Congress Avenue. It will include a childcare center, food services, conference center & wellness center & is scheduled for move in late 2021. SHIPWELL LEASES 7,495 SF AT 515 CONGRESS AVENUE Shipwell leased 7,495 sf of office space at 515 Congress Avenue. Mark Harris & Carl Condon with Avison Young represented the tenant & Connor Atchley with Stream Realty represented the landlord.

NOVEMBER 2018

Austin-based HCP Advisors has been acquired by Dallasbased BBG & Christopher Harman has been named senior managing director of their Austin office.

ORGANICARE NATURE’S SCIENCE LEASES 7,800 SF OF INDUSTRIAL SPACE OrganiCare Nature’s Science, LLC leased 7,800 sf at 3900 Drossett Drive. Ted Rohan with Avison Young represented the tenant & Heather Fields of PS Business Parks represented the landlord. TRANSWESTERN DEVELOPMENT SELLS PARK 96 Transwestern Invest Group sold Park 96, a 99,000 sf industrial project located at 9601 Dessau to an undisclosed buyer. The project consists of three Class A buildings northeast of I35, US 182 & US 290. 2,122 ACRE PROPOSED QUARRY REDEVELOPMENT IN SOUTHEAST AUSTIN GroundWork, a subsidiary of MG Realty Investments which is associated with Momark Development, has proposed a 2,122 –acre master-planned community in southeast Austin on an active sand & gravel quarry located on both sides of SH 130 about 1 mile north of SH 71. If approved, the development would include 2.25 million sf of commercial space & 12,000 homes plus 700 acres of parks & open space with three miles of Colorado River frontage.

EL PASO, TX

SCHNEIDER ELECTIC LEASES 112,721 SF Illinois-based Schneider Electric leased 112,721 sf of manufacturing & distribution space at 1701 NW. Anthony Mash with CBRE represented the landlord, Stag Industrial & Adin Brown with Sonny Brown Associates represented the tenant.

GEORGETOWN, TX

$16 MILLION OFFICE/RETAIL DEVELOPMENT BREAKS GROUND The Georgetown City Council approved an infrastructure grant to help build a 98,000 sf retail/office development on Westhinghouse Road between FM 1460 & Mays Street. TIG Real Estate Services is developing the project. CSW DEVELOPMENT BREAKS GROUND ON RETAIL CENTER Austin-based SCW Development has broken ground on the 250,000 sf Wolf Crossing retail center at I35 & SH 29 which is scheduled for delivery Q3 2019. Jon Switzer & Barry Haydon with JLL will be handling marketing & leasing for the project.

bulletin

Richard Mireles has joined JLL’s Austin office as vice president of their multi-family team.

LAKE AUSTIN, TX

CAMELBACK DEVELOPMENT APPROVED The Austin Zoning & Platting Commission has approved the rezoning of 144 acres west of Pennybacker Road for a new Camelback development that will include 25 single-family homes, 40 condos, a 19,400 sf restaurant, private clubhouse & 300,000 sf of office space. Jonathan Coon is the developer.

NEW BRAUNFELS, TX

MEYERS RANCH NEW DEVELOPMENT Austin-based Randolph Todd Development & Illinois-based Crown Community Development are starting a 691-acre project at SH 46 & S. Cranes Mill Road called Meyers Ranch which will include 1600 homes when built-out. Model homes will be open by spring 2019.

PFLUGERVILLE, TX

PECAN DISTRICT’S $1.2 BILLION MIXEDUSE DEVELOPMENT Presidium & Cid Galindo have broken ground on the first project within their $1.2 billion mixed-use Pecan District development located at West Pecan Street & Heatherwilde Blvd. The Elliott is a 272 unit apartment project which will include one & two-bedroom units averaging 855 sf.

SAN ANTONIO, TX

NO. ULI RANKS SAN ANTONIO ULI’s “Emerging Trends in Real Estate US & Canada 2019” ranks San Antonio as No. 20 on their list of top spots.

PAVILION NORTH 165,993 SF SHOPPING CENTER SOLD TO PRIVATE INVESTOR Los Angeles-based RPD Catalyst LLC sold the 165,993 sf center located at 25 NE I410 Loop to an out-of-state private investment. The center was 99% leased & anchored by Conn’s, Jo-Ann Fabrics, Sam Ash & K&G Fashion. SOLAR ENERGY & BATTERY STORAGE DEVELOPMENT FACILITY CPS Energy has broken ground on a $16. 3 million solar energy & battery storage facility on 50 acres at 9800 W. Commerce Street. The site will include

Q3 CBRE MARKETVIEW CBRE’s Q3 MarketView reports that there is more than 1.6 million sf of retail space under construction in San Antonio with a 96% occupancy rate. WalMart is shutting down three locations of which they have other Walmart stores within a three-mile radius. The industrial space pipeline includes 16 projects amounting to more than 2 million sf & there are 17 office projects totaling over 1 million sf currently underway. a five-megawatt solar power facility & a ten- megawatt battery storage system. It is scheduled for delivery summer 2019. CPS ENERGY SELLING SIX DOWNTOWN PROPERTIES CPS Energy is in the process of redeveloping two buildings formerly occupied by AT&T & Valero Energy Corp located on McCullough for their new headquarters. They are selling six properties they own in downtown including their headquarters building at 145 Navarro Street, the Navarro Building & garage, another parking garage & surface lot & Villita Assembly Building at 401 Vallita, 326 Jones Avenue service center & 7000 San Pedro Avenue service center. The properties have an assessed value of $66.5 million on about 10.5 acres. ICON CINEMA BUYS 15.7 ACRES New Mexico-based Icon Cinema purchased 15.7 acres at the northeast corner of SW Loop 410 & Old Pearsall Road from San Francisco-based Pearsall Road LLC. BANK OF AMERICA WILL RELOCATE TO THE PEARL Bank of America will relocate to 66,000 sf at The Pearl’s new office tower located at Broadway & Grayson Streets by third quarter 2020. The project is being developed by Silver Ventures.

NORTH TEXAS April Desabrais has joined Cushman & Wakefield as Senior Project Manager in its Project Development Services Group.

bulletin

Michael McDonald has joined Cushman & Wakefield as Vice Chairman of its national Capital Markets practice.

Jonathan Napper has joined Cushman & Wakefield as Executive Managing Director of its national Capital Markets practice.

CARROLLTON, TX

JLL BUYS TECH COMPANY JLL purchased Addison-based ValuD, a provider of software & consultation services for IBM which company employs a total of 300 technology experts. Traci Doane, president of JLL Technology Solutions, indicated that the purchase will allow the company to explore emerging technologies.

ML REALTY PARTNERS BUYS 102,012 SF & 81,435 SF ML Realty Partners purchased a 102,012 sf industrial building within Valwood Industrial Park located at 1445 West Belt Line Road. Greg Nelson with Paladin Partners represented the seller & Matthew Smith with ML Realty Partners represented his company. ML Realty also purchased a 81,435 SF building at 2908 Commodore Drive. Michelle Hudson & Tom Hudson with Hudson Peters Commercial represented the seller in the transaction. COOPER FLOORING LEASES 26,639 SF Cooper Flooring Ltd leased 26,639 sf of industrial flex space in Valwood 45 located at 1645 Wallace Drive. Brian Pafford with Bradford Commercial Real Estate Services represented the landlord. Shawn Street & Carter Crow with Younger Partners represented the tenant.

COPPELL, TX

FIDELIS REALTY PARTNERS LAUNCHES FIDELIS HEALTH CARE PARTNERS Mark Allyn (L) & Kevin O’Neil (R) of Dallas will head up Houstonbased Fidelis Realty Partners’ new Fidelis Healthcare Partners company by developing & acquiring medical properties as well as leveraging the retail portfolio of Fidelis Realty.

ARLINGTON, TX

BRIXMOR SELLS 420,550 SF BARDIN PLACE Dallas-based Vista Property Company purchased the 420,550 sf Bardin Place retail center located at the northwest corner of S. Cooper Street & Bardin Road from Brixmor Property Group. Chris Gerard, Chris Cozby & Blaine Dozier with CBRE National Retail Partners represented the seller.

CAWLEY PARTNER PLANS OFFICE SPEC PROJECT Cawley Partners plans to develop a three-building office project called The Braun on Belt Line at the northeast corner of South Belt Line Road & Hackberry Road. The first phase will be 168,000 sf on four floors.

CRANDALL, TX

WILDCAT RANCH PURCHASED BY SOCFM DEVELOPER The 903-acre, master-planned residential development known as Wildcat Ranch was purchased from Dallas developer, James Mabrey by SOCFM Developer, which is reportedly a group of several experienced development & investment professionals. The development is located on US 175 in Kaufman County & is slated to include 3,100 homes upon build-out.

DALLAS, TX

NO.

ULI EMERGING TRENDS NAMES DFW NO. 1 ULI ranked DFW as No. 1 in their “Emerging Trends in Real Estate US & Canada 2019”.

Nick Wilhelmson has been named Managing Director of Pollack Shores’ southwest region office located in Dallas.

AETHON ENERGY LEASES 47,679 SF Aethon Energy Operating LLC leased 47,679 sf of office space in Park Central-Lakeside Square located at 12377 Merit Drive. Melanie Hughes, Richmond Collinsworth & Bret Cooper with Bradford Commercial Real Estate Services represented the landlord. Russell Trenary with Trenary & Associates represented the tenant. COHEN ASSET MANAGEMENT BUYS 1.33 MILLION SF Transwestern brokered the sale of the 1.33 million sf Pinnacle Industrial Park located at 3700 & 3801 Pinnacle Point Drive to Cohen Asset Management. Cohen now has more than 3 million sf of industrial space in the DFW metroplex . SIMCO, INC LEASES 16,540 SF Simco, Inc. leased 16,540 sf of industrial space at 9208 Chancellor Row. Turner Petersen & Jeremy Mercer with Mercer Company represented the landlord & Tucker Cason with Mercer Company represented the tenant. FINIAL GROUP BUYS WESTMORELAND BUSINESS CENTER Houston- based Finial Group purchased the 85,033 sf Westmoreland Business Center located 17 miles southwest of the Dallas CBD & 1.7 miles north of I20 in the Redbird submarket which is reportedly one of the strongest industrial submarkets in the area. The company is actively seeking additional acquisition opportunities.

FORT WORTH, TX

1 MILLION SF INDUSTRIAL PROJECT ANNOUNCED Dallas-based Hunt Southwest Real Estate plans to build 1 million sf of speculative distribution & fulfillment space near Interstate 820 & I35W at 1511 NE Loop 820. Becky Thompson & Reid Bassinger with Lee & Associates brokered the 77-acre land sale. Construction is set to begin in November with completion projected late third quarter 2019.

Jacqueline Byrd has joined Reserve Capital Partners as Managing Director of Property Management.

FRISCO, TX ALTAIR GLOBAL MOVES FROM PLANO TO FRISCO Altair Global is moving its corporate headquarters from Legacy Park in Plano to 65,000 sf in Frisco’s Hall Park located at 3201 Dallas Parkway. Kelly Cooper, Randy Cooper, Dean Collins & Emily Hoffman with Cushman & Wakefield represented Altair Global.

HURST, TX CMK BUYS MEDICAL OFFICE BUILDING Brentwood-based CMK Properties purchased a 45,000 sf medical office building located in Hurst, Texas. This is the company’s first acquisition in the DFW area.

MANSFIELD, TX LOGISTICS PROPERTY COMPANY BUYS 240 ACRES FOR INDUSTRIAL DEVELOPMENT Chicago-based developer Logistics Property Company is planning to build up to 3 million sf on 240 acres on Lone Start Road & SH 360 in Mansfield. The first building is expected to be completed in 2019 with a total of seven buildings ranging from 107,000 sf to more than 1 millions sf planned for the entire project.

PRINCETON, TX MIXED-USE DEVELOPMENT ON 297 ACRES Princeton Crossroads, a 297-acre mixed-use project, will include a commercial & retail center & single family homes, apartments & townhomes. It will be anchored by the town’s city hall & will include a city park. Chris Burrow with Range Realty Advisors will be marketing the project.

RICHARDSON, TX

MIXED-USE DEVELOPMENT ON 14.5 ACRES Catalyst Urban Development will develop Town Central, a 14.5 acre tract on Main Street with 430 apartments/ townhouses, 20,000 sf of retail/ commercial space including a 302,672 sf building which will include ground level retail & five floors of apartments. NOVEMBER 2018

SOUTHEAST TEXAS Edna Meyer-Nelson, Founder, President & CEO of The Richland Companies, has been inducted into Real Estate Forum’s 2019 Women of Influence National Hall of Fame.

Angie Steadman has rejoined The Richland Companies as Director of Leasing & Tenant Representation.

bulletin Thomas Lawyer has been named President of Transwestern’s Commercial Services Division.

Tim Thomas has joined Cresa as Vice President in its Industrial Division.

Chris Bosler has joined NAI Parters as Vice President of Property Services in its Landlord Services Division.

+ Kayla Black & Ben Sample have joined Cresa as Advisors in its Industrial Division.

ANGLETON, TX MUSTANG CAT BUYS 9.1 ACRES Mustang Cat purchased 9.1 acres at CR 220 near South Velasco from Teal Development. Joel Michael of NAI Partners represented the seller & Dan Perrier with Perrier Properties represented the buyer.

BAYTOWN, TX 519,224 SF RAIL-SERVED DISTRIBUTION DEVELOPMENT Trammell Crow Company & Artis REIT have started construction on a 519,224 sf, rail-served distribution facility located at 5055 E. Grand Parkway South to expand Plastic Bagging & Packing’s operations in the Cedar Port Industrial Park. Jim Pratt & Mike Taetz with Colliers International represented PBP in the build-to-suit lease.

DAYTON, TX GULF INLANDS LOGISTICS PARK SELLS FIRST TRACTS Gulf Inlands Logistics Park, a 1,050 acre industrial park, located at SH 90 & the future intersection of the Grand Parkway, have sold two tracts of land to two different chemical companies. The tracts ranged between 10 & 20 acres. Construction of specialty chemical facilities buildings are expected to commence in 2019.

HOUSTON, TX

NO.

ULI EMERGING TRENDS MOVES HOUSTON UP ON LIST ULI has Houston ranked as No. 37 on their list of “Emerging Trends in Real Estate US & Canada 2019”. Houston is up from No. 60 in 2018. TRANSOCEAN LEASES 300,000 SF IN ENERGY CORRIDOR Switzerland-based offshore drilling company, Transocean Ltd, leased the 300,000 sf Enclave Place building located at 1414 Enclave Parkway effective July 2019. Transocean currently occupies 40

NOVEMBER 2018

Recently combined Madison Marquette & PMRG will transition to Madison Marquette corporate brand effective throughout fourth quarter.

space at Greenway Plaza which lease expires in 2023. TRITEN BREAKS GROUND ON 330,000 SF PROJECT Houston-based Triten Real Estate Partners is constructing two buildings totaling over 330,000 sf at Bayport North Industrial Park at 9701 New Decade Road & 4100 Malone Drive. The buildings are scheduled for completion in early 2019. Triten is also building a 404,160 sf distribution center at 4600 Underwood which should deliver in early 2019. ICO SELLS MID-TOWN OFFICE BUILDING ICO Commercial sold a 9,908 sf Midtown Office Building located at 4201 Caroline Street. Danna Sossen & Tawnya Dornak with ICO Commercial represented the seller & Burdette Huffman with Edge Realty Partners represented the buyer. LINCOLN PROPERTY’S PLANS FOR CITYNORTH Dallas-based Lincoln Property Company purchased the six-building, 2.1 million sf former Exxon campus at Greenspoint last year & is investing $100 million into rebranding and developing it as the next “City Centre” with a focus on tech companies. The first phase of the renovation will open in November with a 6,000 sf tenant lounge which has a putting green, sports simulator, lounge/kitchen area & pool table and is located between two of the buildings. METONATIONAL SELLS THREE OFFICE BUILDINGS Houston-based MetroNational sold three buildings totaling 230,506 sf including 15150 Memorial Drive, 2930 W. Sam Houston Parkway & 10401 Centrepark Drive. S&B Engineers & Constructors purchased the Memorial Drive Building, Amerix Capital purchased 2930 W. Sam Houston Parkway & Enterprise Holdings purchased 10401 CentrePark Dirve. Dan Miller & Trent Agnew with HFF represented the seller.

Houston-based Transwestern Commercial Services & Canada-based Devencore have formed a strategic alliance to extend their commercial services.

TORTILLA FACTORY TO BECOME APARTMENT PROJECT Phoenix-based Alliance Residential purchased a 2 acre tract off 15th Street & North Shepherd from Lira Real Estate, Inc for the development of an eight-story, 337unit apartment project. Tom Dosch with Dosch Marshall Real Estate represented the buyer & Frank Yeverino with The Fry Firm represented the seller. HINES SELLS 447,605 SF INDUSTRIAL PROPERTY Hines sold nine buildings in the Greens Port Industrial Park located at 13770 Industrial Road to AFGlobal Corporation. The 447,605 sf project is located in the Greens Port Industrial Park on 41.5 acres of land. Todd Moore with Stan Johnson Company handled the transaction. TRANSWESTERN PURCHASES 114.413 SF OFFICE BUILDING Transwestern Investment Group & Virtus Real Estate Capital purchased the 114,412 sf office building at 2051 S. Greenhouse Road from The D’Agostino Cos for repositioning to a medical office building. Kevin McConn, Rudy Hubbard & Rick Goings with JLL represented the seller & Justin Brasell with Transwestern represented the buyer. FIDELIS REALTY ACQUIRES 886,000 SF OF RETAIL PROPERTIES An acquisition partnership affiliated with & controlled by Fidelis Realty Partners purchased the 370,000 sf Victory Lakes shoppinig center & 273,000 sf Riverstone shopping center in Houston & the 2453,000 sf McKinney Marketplace shopping center in McKinney. With the purchase is an additional 1,105,000 sf of anchors in the centers that are owned by each retailer. CAPITAL RETAIL PROPERTY COMPLETES AMERICANA BUILDING RESTORATION Capital Retail Property & Identity Architects have completed the restoration of the former Americana building located at 811 Dallas into 31,000 sf of street-level retail space. The project has 550 parking

spaces & can accommodate up to 63,000 sf of retail space below the street level in the future. The building is owned by Hilcorp, which is headquartered across the street on the former Foley’s department store site.

KATY, TX KISD BUYS 157 ACRES Katy Independent School District purchased 157 acres off Katy Hockley Road north of FM 529 near the Elyson community from Rockspring Capital. McAlister Real Estate handled the transaction for the seller & Jared and Fred Fargo with Consolidated Property Advisors represented the buyer.

THE WOODLANDS, TX THE J. BEARD COMPANY SELLS 2700 RESEARCH FOREST BUILDING SSJBC Commercial XIX purchased the 74,940 sf office building at 2700 Research Forest from Dallas-based Novel Office Systems/Soft-Tech SM. Jeff Beard with The J. Beard Real Estate Company handled the sale & his company will provide leasing & management of the building. MEDICAL OFFICE BUILDING SELLS TO ALDEN HEIGHTS Neal King & Jeff Tinsley with The J.Beard Real Estate Company facilitated the sale of the 30,363 sf Panther Creek Professional Plaza II at Woodlands Parkway & Panther Creek Drive. The buyer was Alden Heights Place, LLC & the seller was DeLCom Properties, LLC.

WALLER COUNTY, TX 83 ACRES SELLS AT KICKAPOO & FM 2920 Local investment group, VEC LP, purchased 83 acres at Kickapoo Road & FM 2920 from Lavon Thomas & affiliates. Jeff Lokey with NewQuest Properties represented the seller & Carlos Izquerido with Bayou City Company represented the buyer. The buyer reportedly has no immediate plans for the property.

advertiser index AA Realty Company 16 AlphaTech International, Inc. 9 Asset Preservation 27

JOIN US &

SPONSOR 2019

Berkadia

BHHS/Anderson Properties 21 Buffalo Real Estate Partners, Inc. 1 - SETexas, 24 Burgher Haggard 1 - NoTexas, 22, 23 Caldwell Companies 15 City Bank 44 City of McAllen 1 - CSO Texas, 8, 10 City of Seabrook 5 Cullen Realty 29 Equity Secured Investments 29 Greenberg & Co. 25 Homeland Properties, Inc. 19 JLL

Koontz Corporation 17 National Environmental Services 43 Phase Engineering 30 Real Estate Summits 7 Rod Scarborough Properties 25 Showalter Law Firm 27 Strive Real Estate 13 TCP Realty Services 9, 17, 19 The J. Beard Real Estate Company 11 Thomas Hitchcock Interests 21

CREW is an organization that promotes women who are professionals in the commercial real estate industry. Our purpose is to provide additional opportunities and advancement for our members through education, networking, recognition and leadership.

CONTACT CREW SAN ANTONIO: Kelly Rabanal, Advertising Director 210.455.2478 | krabanal@highlandresources.net PO BOX 160013, San Antonio, TX 78280

NOVEMBER 2018

2019 Editorial Calendar 50,000+ PRINT & DIGITAL DISTRIBUTION

Month

Market Focus & Sub Focus

January

Retail / Land / Development

February

Office / Industrial Trends & Hot Spots

Ad Deadine *Bonus Distribution Dec 12, 2018

Jan 11, 2019

TrailBlazers Summit ICSC Red River States - RECA KnockOut Night - CCIM Forecast Competition - BOMA Southwest Region Conference

Retail / Vacant Land / Texas Development Texas Economic Development

Feb 12, 2019

April

Vacant Land / Industrial Texas Hot Spots

Mar 13, 2019

- Texas A&M Land Markets Conference

May

Retail / EDCs / Vacant Land Texas Economic Development

Apr 12, 2019

- BOMA Dallas Trade Show

March

- CCIM & CREW Austin Real Estate Summit

- RECon Las Vegas

June

Land / Industrial / Office / Texas Hot Spots

May 13, 2019

July

Land / Retail / Texas Economic Development

Jun 13, 2019

Retail Recap Texas Economic Development

Jul 12, 2019

August

Land / Texas Development Opportunities September Hot Spots

- NTCAR Expo

Aug 13, 2019

Industrial / Office Service / Land Hot Spots

Sep 13, 2019

November

Retail / EDCs Texas Economic Development

Oct 11, 2019

December

Vacant Land / Texas Economic Development Hot Spots

October

NOVEMBER 2018

- Retail Live! Austin

Nov 13, 2019

Women in Real Estate Summits

A 360° approach to environmental services

National Environmental Services Gabriel Environmental Group National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in Redlands, California, are sister environmental consulting companies, established in 1995, that conduct a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround. • Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13) • Transaction Screens (ASTM E 1528-06) • Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency)

• RSRAs (Records Search with Risk Assessments) • Phase II Subsurface Investigations* • Remediation and Corrective Activities* • Soil, Water, and Air Testing Services

National Environmental Services LLC 5773 Woodway Dr, Suite 96 Houston, TX 77057 Phone (281) 888-5266 Toll Free: (833) 4-Phase1 hgabriel@nationalenv.com www.nationalenv.com

• Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* * Performed in Texas in partnership with Terrain Solutions, Inc.,Texas Geoscience Firm Registration # 50018

Gabriel Environmental Group 700 East Redlands Blvd, Suite U618 Redlands, CA 92373 Phone (951) 545-0250 Toll Free: (833) 4-Phase1 hgabriel@gabrielenv.com www.nationalenv.com

Satellite Offices: Portland (Tigard), Oregon and New York (Little Neck), New York

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South,Suite 2537 S. Gessner, Suite 135, Bellaire, TX 77401 Houston, TX 77063

PRSRT STD U.S. POSTAGE PAID PERMIT NO. 2436 DALLAS, TX

126

Address Service Requested If this person is no longer with your company, please notify subscriptions@ rednews.com or call 713-661-6300

AL ROSS SIGN GROUP SET TO MAKE ITS MARK ON HOUSTON

INDUSTRY REIMAGINED.

Houston-based equity ﬁrm, Al Ross

“We’re committed to delivering the

Group, LLC recently acquired a large sign

best value to you on every

your venture a custom financial visionary expert companyPower in Houston, andwith rebranded to Al solution from a project, whether we’re creating at City Bank. We take a personal approach to commercial lending to help you Ross Sign Group. The sign company, in

signage that is functional, artistic,

reach your short and long-term goals. Contact your City Bank representative

business 27 years has a solid, loyal client

or a bit of both. That’s the

base and experienced, passionate people.

diﬀerence you’ll experience when

With aggressive marketing and a high

working with Al Ross Sign Group.”

to reimagine a financial solution for your business.

level of service, Al Ross Sign Group will Al Ross, CEO

quickly rise to the top, not only in Houston, Texas, but across the country.

Expect the best! Working Capital Commercial Real Estate Expansion Loans Succession & Acquisitions

DALLAS PLANO FORNEY HOUSTON COLLEGE STATION LUBBOCK EL PASO

800 OUR BANK city.bank

713.661.1500

Equipment Loans

alrosssigngroup.com