REDNews November 2015 - Southeast Texas

NOVEMBER 2015 | RETAIL October 2015

In this issue:

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE FOR SALE: ±110 Acres

Retail Texas And Why You Should Care Interview with

Jim Smith

for more information, contact Lee Girard 281 236 4401 leegirard@gmail.com

David L. Cook, SIOR, CRE 713 963 2888 david.cook@cushwake.com

ROOM TO BOOM

PICTURE THIS: DIRT FLYING AND SPACE LEASING!

Crossroads at Terrell Terrell Market Center

Spring 2017 opening features 400,000 sf of big box tenants, shops, restaurants, hotels on 255+ acres MARKET n

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SITE

Anchor and pad sites available at junction of I-20 and U.S. 80

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25 miles east of Dallas, Texas

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Ideal regional spacing out positions all retail sites to the west

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Dynamic regional trade area 287,629 population services Kaufman and Van Zandt counties*

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$69,504 2014 Average HH Income**

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39.86% Population growth**

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*2014 Retail Coach ** CBRE/UCR

Terrell Market Center - opened Summer 2015 Crossroads at Terrell - anticipated Spring 2017 62,000 sf Buc-ee’s Travel Plaza drives 6,000+ vehicles per day 45,000 VPD I-20 Traffic Count Double diamond interchange allows convenient access from all directions Adjacent to future Baylor, Scott & White Health 52-acre regional medical concentration Potential for 1,000,000 sf+ power center and mixed-use development

Looking for a high-performance retail or commercial site for expansion or relocation? Picture Terrell, Texas as your new address of success. Terrell is home to Walmart Supercenter, The Home Depot and Tanger Outlet Center as well as five Fortune 500 company divisions. In addition to Crossroads at Terrell/Terrell Market Center, over 3,000,000 sf is still on the drawing board for future projects. To get in on the boom contact Danny Booth, EDC President at 972.524.5704, danny@terrelltexas.com or visit terrelltexasedc.com

Visit Team Terrell at Booth 1141 at the ICSC Texas Conference and Deal Making. Get the whole picture - and you could win a Parrot Bebop Drone!

TERRELL ECONOMIC DEVELOPMENT CORPORATION

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P.O. BOX 97

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1314 W. MOORE AVENUE

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TERRELL, TEXAS 75160

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TERRELLTEXASEDC.COM

v ±8,000 SF building, situated on ±32,640 SF of land v One block from newly restored Buffalo Bayou Park v One curb cut on D’Amico Two curb cuts on Waugh Dr. v Lighted intersection v Direct connectivity from eastbound Allen Parkway v ±100’ frontage on D’Amico ±265’ frontage on Waugh

R. HD WAU G

D’AMICO ST.

713.577.1876 bill.mcdade@cbre.com

WAUGH SWC Waugh Dr. and D’Amico St.

v CONTACT BROKER FOR PRICING Kristen.McDade@cbre.com or (713) 577.1808

William A. McDade

7 1 0

Kristen McDade

713.577.1808 kristen.mcdade@cbre.com

CONTENTS

Market

Sales & Leases 1–3, 5, 7–9, 11, 13, 15–29, 41, 43, 44

Services

Environmental Services 30 Legal Services 41

Scoop

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

Features

Retail Texas 10, 12, 14 Ray's Buzz: Interview with Jim Smith 42 Next Month's Issue 41

4

November 2015

2013 Traffic Counts SH 146 north of Red Bluff: 29,800 SH 146 south of Red Bluff: 31,000

110 Acres - For Sale SH 146 & Red Bluff Rd., Seabrook, TX • ±110 acres located on SH 146 at Red Bluff Road, in the City of Seabrook, Harris County, Texas • All utilities are available to the site • All required detention is available • Currently zoned for industrial, residential & retail development • Within the Clear Creek Independent School District • Key Map 620C/F/G Licensed real estate brokers

Demographics

1 mile

3 mile

5 mile

Total Population:

5,549

28,715

66,950

Avg. HH Income:

$136,865

$106,804

$108,877

for more information, contact Lee Girard 281 236 4401 leegirard@gmail.com David L. Cook, SIOR, CRE 713 963 2888 david.cook@cushwake.com

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless ginger@rednews.com

EDITOR

Marjorie Gohmert info@rednews.com

STAFF WRITER

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

Dear Readers,

This is our 13th Annual Texas Recon Retail Focus issue and we’re looking forward to visiting with a lot of you retail brokers in Dallas November 4th – 6th. We’re located at Booth #534 so please come by and say hello.

According to Marcus & Millichap’s third quarter reports, the retail market is strong throughout Texas with Austin leading the charge. Their city’s 2015 anticipated year-end occupancy is projected to be 95.4%, followed by Houston at 94.3%, San Antonio at 94.2% and Dallas at 93.8%. This is in spite of a total of 6,800,000 square feet of retail space being added to the inventory in those cities this year.

Though the drop in oil prices has substantially decreased job growth in Houston, other sectors of the metro’s employment base are expanding.

Dr. Marci Rossell, Senior Economics Advisor for Delphin Investments and former Chief Economist with CNBC, addressed CREW Houston members at their September monthly luncheon. Dr Rossell predicts “Houston can drive an environment where oil prices stay in the $50/barrel range.” She stated that Houston is experiencing “supply side shock” versus a “demand side shock.” What this means to the Texas/US retail market is the 50% reduction in the price of a tank of gas has effectively created a $1500/year windfall for American consumers and they are taking that money shopping. (Find Dr. Rossell’s full presentation at www.rednews.com/CREWHouston) I hope you have a wonderful Thanksgiving holiday and please do come by to visit if you’re in Dallas for ICSC. Best Regards,

CONTRIBUTING WRITER

Ray Hankamer rhankamer@gmail.com

ART DIRECTOR

Payton Watkins payton@camalla.com

DATABASE MANAGERS

Matt Chisari matt@rednews.com Rahul Samuel rahul@rednews.com

DIGITAL/MARKETING DIRECTOR Laura Salazar digital@rednews.com

ACCOUNTING

Benton Mahaffey accounting@rednews.com

SALES

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

PRINT & DIGITAL DISTRIBUTION

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

Texas Brokers: 7,650 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 81,577

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Ginger Wheless

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Thank you Midway Press!

To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription.

5909 West Loop South, Suite 135 Bellaire, TX 77401

6

November 2015

Personalized Service. Proven Results.

www.tarantino.com ASHFORDPROFESSIONAL PROFESSIONAL ASHFORD

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

909 Dairy Ashford Rd, 909 Rd, Houston, TX 77079 Houston, 77079

NANES NANES PROFESSIONAL PROFESSIONAL

17030 Nanes Dr, Dr, Houston, 77090 Houston, TX 77090

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

NORTHGREEN ATRIUM BUILDING 7660 WOODWAY • • • • • •

7660 1300 N. SamWoodway Houston Parkway Houston, 77063 Houston, TX 77032

5507575 GREENS SANPARKWAY FELIPE

7575 San Felipe 550 Greens Parkway Houston, Houston, TX TX 77063 77067

8

ASHFORD PROFESSIONAL November 2015

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

Up toOwnership 4,556 NRA New Available for Lease 1,000-56,000 Five Level, Class B NRA Available Office Building Building Identity Available Renovated in 2014 Beautiful Atrium Property Secured Lobby with Granite

by Security Gate & Finishes Card Key Access

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

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

OFFIC E OFFICE • 1,510-2,398 SF Available in • Suburbs Full Building, of the 72,000 NRA Galleria Available for Lease • Common Areas, • Lobby New Ownership & Restrooms in • Remodeled Beautiful Atrium 2015 Lobby, High End • Monument Signage Finishes & Lush Available Landscaping • Numerous Secured Covered Shopping Parking Centers & Restaurants Nearby

• Two Story Medical Office Building • Renovated in 2008 • Up to 2,392 SF

908 908E. E. SOUTHMORE SOUTHMORE

908 E 908 E Southmore Southmore Blvd, Blvd, Pasadena, TX TX 77502 77502

PASADENA PROFESSIONAL PROFESSIONAL PASADENA

3315 Burke Burke Rd, Rd, Pasadena, TX TX 77504 77504

NORTHCHASE BUSINESS NORTHCHASE BUSINESSPARK PARK

14505 14505 Torrey Torrey Chase Chase Blvd, Blvd Houston, TX 77014

1505 HIGHWAY HIGHWAY 66 1505

• 1, 1,117-10,551 117- 8,849 SF Available • Lobby & Common Areas Remodeled in 2014 • Covered two Two (2) (2) story Story parking Parking garage Garage • Located • Located near near the the Energy Energy Corridor Corridor

Personalized Service. Proven Results.

1505 Highway Highway 66 www.tarantino.com Houston, TX TX 77077 77077

• 46,462 SF, Three Story Medical Office Building • 80 Free Surface

908 E. SOUTHMORE

WOODFOREST SHOPPING SHOPPING CENTER WOODFOREST CENTER • Up Up to to 11,017 11,01 7SF SF • Available Available End Cap Cap Available Available • End NWC I-10 I-10 EE • NWC Frontage @ @ John John Frontage Ralston Ralston

10907-11095 I-10 East 10907-11095 Houston, TX 77029 Houston,

DE DE ZAVALA ZAVALA

12770Cimarron Cimarron Path, Path 12770 SanAntonio, Antonio, TX 78249 San 78249

1005 1005 INDUSTRIAL INDUSTRIAL

• Hard Corner Corner of of • Hard Hwy 90 90 & & Dairy Dairy Hwy Ashford Ashford • Up to 3,901 2,170 SF Available • Great Co-Tenancy • Traffic Count Exceeds 78,000 CPD

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

• Suite 250: 4,225 SF Warehouse & • 3,336 Suite 116: 12,421 SF Office NRA Available Space Available • Easy Access to Beltway 8, I-45 & IAH and IAH Semi-Dock High •2 Fully Sprinkled Bays • Loading Three Loading •1 Up- Ramp Docks to Allowing Drive Dock in Accommodate Access High Loading • Air Conditioned Warehouse

INDUSTRIAL INDUSTRIAL

1005 Industrial Industrial 1005 Sugar SugarLand, Land, TX TX 77478 77478

Houston, TX 77063 (713) 974-4292

SUGAR SUGARPOINT POINTSHOPPING SHOPPING CENTER CENTER

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

• Stand-alone 15,000 • Stand-alone SF Building 15,000 SF Building • (3) 10ft.

10ft.Roll Roll Up Up doors-Grade doorsGrade Level Level Loading • Warehouse Ceiling Height 20ft.

• New Roof

CORPORATE OFFICE: WOODFOREST CENTER 7887 SanSHOPPING Felipe, #237

3340 FM 3340 FM 1092 1092 Missouri City, Missouri City, TX TX 77459 77459

RETAIL RETAIL

RESEARCH PLAZA RESEARCH PLAZA

19189 I-45 North 19189 Shenandoah, TX 77385 Shenandoah,

TOWNSHIP TOWNSHIP SQUARE SQUARE

• Up to 6,882 SF • Up to 6,845 Retail Space Retail Space Available Available • Easy • Easy Access Access to to Highway Highway 6 6& & U.S. U.S. Hwy Hwy 59 59 • Traffic • Traffic Count Count Exceeds Exceeds 30,653 30,653 CPD CPD

• 3500 SF, Air- Conditioned Space Available • 10,663 SF • Deed Restricted Available Business Park •3 Phase at Power Located the • 18ft Ceiling Height Corner of Fallbrook & Beltway 8 to • Easy Access • Beltway Tilt Wall 8 Construction with Decorative Interior Walls

SAN ANTONIO OFFICE:

9920 Hwy Hwy 90 90 Sugar Land, TX TX 77478 77478

15421 VANTAGE 15340 VANTAGE

15421Vantage VantageParkway Parkway,E, 15340 Houston, TX 77032 77032 INTERCONTINENTAL BUSINESS PARK LEGACY PARK BUSINESS CENTER

15344 Vantage Parkway E 10930 W. Sam Houston Parkway N. Houston, TX TX 77064 77032 Houston,

AUSTIN OFFICE:

TOWNSHIP 12770 Cimarron Path St. 122 502 East 11th Street, #400SQUARE November 2015 San Antonio, TX 78249 • Up to 6,845 Retail Austin, TX 78701 Space Available (512) 302-4500 • Up to 11,017 SF 212-6222 (210) Available

• Easy Access to

9

Retail as a whole is booming in Texas right now even as office and industrial take a hit from low oil prices. Walk through your favorite local mall and chances are, there are significant changes underway. Whether it’s just a new store coming in or the addition of an entirely new wing, mall properties across Texas and the entire country are being overhauled as a means of growing earnings from existing assets.

BY BRANDI SMITH

San Antonio

According to REOC San Antonio, “more than 826,000 square feet of multi-tenant retail space is currently under construction” in the Alamo City, but that doesn’t include the metamorphosis happening in the area’s most popular shopping centers.

“As the real estate market changes, so does Ingram Park Mall,” said Veronica Cavazos, the mall’s director of marketing and business development. “A number of our tenants will be updating their stores to offer an even better shopping experience with new technology, redesigned spaces and more product offerings.”

While Ingram Park bills its offerings as diverse, Cavazos says its demographics call for “more mainline and premium retailers,” including The Disney Store, Vans, American Eagle Outfitters and the newly expanded Hot Topic.

10

November 2015

Built in 1979, Ingram Park is one of the city’s oldest retail venues, especially compared to newcomers like The Shops at La Cantera, which opened in 2005.

“The Shops at La Cantera is truly more than just a shopping center and is more of a retail resort,” said Dustin Christensen, marketing manager for General Growth Properties, which manages both La Cantera and North Star Mall.

The most obvious difference between La Cantera and Ingram Park is the design: Ingram Park is a traditional mall, whereas La Cantera has an outdoor shopping environment.

“We have naturally landscaped garden courtyards, shaded pathways and meandering water features serving as an enhancing backdrop for over 150 specialty retail shops,” Christensen boasted.

Credit: General Growth Properties, Inc.

Retail Texas

The Shops at La Cantera, San Antonio, TX

The shopping options available at La Cantera are also very different from Ingram Park. To date, Coach is the only luxury retailer located at Ingram Park, but La Cantera’s brand is luxury.

“We have been successful in attracting luxury and aspirational tenants such as Tiffany, CH Carolina Herrera and Tory Burch and will continue to seek out luxury retailers that will appeal to our customers,” said Christensen.

Other forms of retail development are also being delivered to the market, such as the recently opened Kenedy Junction and Hondo Village just beyond city limits. Both are 100 percent leased, according to CBRE San Antonio.

There is, however, still retail space available in San Antonio, which had a vacancy rate of 5.8 percent in 2015’s third quarter, according to Marcus & Millichap.

Connection. “[This] is turning out to be our best year ever.”

From Georgetown to San Marcos and everywhere in between, new shopping centers are popping up just as existing properties reinvent themselves to attract new tenants.

“Downtown continues to lead the way with over $2 billion of new development within a few blocks of our office,” Morris said. “The Domain continues to dominate our retail scene with a 650,000 square foot retail expansion underway.”

Lauren Krumlauf, The Domain’s area director of marketing, describes the property as more of a true lifestyle center than most open-air retail centers.

Austin

“A lifestyle center is a place where you can live, work, shop, dine and play without ever having to leave the premises,” said Krumlauf. “All of these components harmoniously coexist at The Domain and one use doesn’t dominate the others.”

Retailer brands are “clamoring for new product in literally every part of Austin and surrounding areas,” said Lance Morris, president of The Retail

“With the onslaught of highly paid technology executives and other corporate expansions to Austin, luxury is becoming a more attractive product,” said Morris. “We are seeing that by the number of upscale

Neighboring Austin is - in a word - exploding with retail development. Transwestern says vacancy in the city has dropped below 4 percent for the first time in more than six years.

Keeping that balance is the challenge as shoppers’ tastes change and evolve, resulting in new tenants and offerings.

4320 S. Western Street S. Western Street & Paramount Blvd., Amarillo, Texas

FOR SALE OR LEASE 63,383 SF Building on 5.5 Acres 450 Parking Spaces Seating for 475 employees Remodeled in 1997 Formerly occupied by insurance company as a call center

Amarillo CenterPort Business Park Amarillo, Texas

SITES AVAILABLE Directly served by two BNSF Railway mainlines High-capacity underground utilities Mid-continent location with direct access to I-40 (3 miles) and I-27 (8 miles) via State Loop 335 Located in Amarillo’s Foreign Trade Zone #252 Amarillo’s Freeport status exempts inventory from property taxes Land in CenterPort has a market value of more than $40,000 per acre and is conveyable Brian Jennings, Amarillo Economic Development Corporation 806.379.6411 | brian@amarilloedc.com

The Domain, Austin, TX

“Retail is the driving force in the industry and is very robust in Houston,” Matt says.

Credit: Simon Property Group, L.P.

developments taking place at this time and luxury brands wanting space.”

As a result, The Domain is generating interest from a more affluent audience.

“Within the last year, The Domain has added Tory Burch and Kendra Scott to compliment its lineup of other luxury retailers, including Louis Vuitton and Tiffany & Co.,” Krumlauf said.

Morris outlined many other projects that are expanding Austinites’ shopping options, including the redevelopment of a former outlet mall near IH-35 & Hwy. 45.

Houston

While Houston can’t boast the same low vacancy rates of 12

November 2015

Austin’s retail market, it’s not far behind. By year-end 2015, the Bayou City reportedly will have a record retail occupancy of 94.3 percent, according to Marcus & Millichap, even though contractors will add more than nearly 2.4 million square feet of new inventory this year.

“Standard retail still commands 95 percent of the SF being delivered to the market,” said Matt Keener, senior vice president of CBRE/UCR. “Retail is the driving force in the industry and is very robust in Houston.”

Luxury retailers, however, have their eye on Houston and are making a grab for available properties.

“These retailers do so well because Houston offers both a

very large and prosperous local clientele with the additional upside of a very large and prosperous visitor contingent,” Keener said.

That’s especially evident in The Galleria, “Houston’s premier shopping and tourist attraction.”

The center, which garners more than 10 million annual visits, is in the midst of a $250 million redevelopment that includes the addition of a new Saks Fifth Avenue flagship store.

River Oaks District, Houston, TX

“Simon will convert the existing Saks store into a new and vibrant two-level mall wing,” said Andrew Huang, director of marketing for The Galleria Houston. “The new expansion wing will include the addition of 35 luxury and other unique retailers as well as feature restaurants.”

But the nation’s fourth-largest mall is sure to get some luxury competition from the newly opened River Oaks District.

Despite many tenants of the OliverMcMillan project still being under construction, the development celebrated its grand opening in early October.

Those retailers currently open include luxury brands such as Cartier, Chopard, Dior, INTERMIX, Roberto Cavalli, Stella McCartney and Tom Ford.

“It really puts the stake in the ground and really defines this as the new place in Houston for luxury and for upscale shopping,” Dene Oliver, CEO of OliverMcMillan, told the Houston Chronicle in May 2014.

A stake in the ground and a proverbial stake through The Galleria’s heart since Cartier

SAFETY | AMENITIES | VALUE | VISION | BEAUTIFICATION

Big-business amenities for small-business budgets

There are many big new office buildings in Westchase District perfect for large, international companies. But what if you’re not a giant company?

Don’t worry; you can still enjoy all the benefits of the District in a smaller, more affordable multi-tenant building. Many are newly updated. Some offer whole-floor opportunities. And they all offer access to everything you’d expect from the District: great mobility, beautiful surroundings, desirable amenities, close proximity to many of the city’s leading companies, and easy access to our new trail system. So learn more today.

Learn more: WestchaseDistrict.com or 713-780-9434

WESTCHASE. WHERE BUSINESS IS MOVING.

and Dior both shuttered their Galleria locations to move to River Oaks District. Despite the moves, mall managers say the property is 100 percent leased. And analysts say the competition is healthy.

“We are blessed with a great local group of developers that drive a lot of creative repurposing and redevelopment,” Keener said. “We are seeing the best development activity in six years with the added pleasure of really, really interesting newgenre developments.”

DALLAS The competition happening in Houston helped Texas’ largest city surpass Dallas as a retailer destination. In fact, Transwestern’s Nick Hernandez told Bisnow that retail users generate about 15 percent more in Houston than in Dallas.

Even so, Big D’s retail is setting records. Occupancy rates shot up for a fourth straight quarter, reaching nearly 94 percent. The second quarter saw 580,000

Stonebriar Centre, Dallas, TX

square feet of retail delivered to the market, 96.5 of which came from the completion of Nebraska Furniture Mart, a sprawling retail showroom in north central Dallas that is officially the largest store in the state of Texas. 3.2 million square feet of retail space will reportedly be added to the Dallas/Fort Worth region this year, according to Marcus & Millichap.

NFM is owned by Berkshire Hathaway, Warren Buffett’s conglomerate. Of this new property, the billionaire said, “I believe the store will do over $1 billion.”

Furniture is far from the only product North Texas residents are buying up to keep the retail market booming.

“Through the first half of the year, DFW continues to experience a surge of grocery, fitness, sporting goods, and discount soft goods users who absorb most of preexisting available spaces on the market,” according to CBRE Dallas.

That surge extends well beyond the city limits into other areas, such as Frisco. The community’s Stonebriar Centre is growing right along with the population.

Architecture of Stonebriar Centre

“The center was the first large-scale development in the City of Frisco and served as a catalyst for the future development of the city,” said Eileen Neighbors, Stonebriar’s marketing manager.

The 1.7 million square foot super-regional development includes more than 165 stores with a unique blend of retail for North Texans. However, just like any other retail property, things are constantly changing.

“You’ll notice we have a lot of exciting things happening at Stonebriar Center,” Neighbors

said. “We are constantly in talks with retailers to open shops here.”

Neighbors says her property will continue being the retail leader in North Texas as Frisco continues its unprecedented growth.

Meantime, in the heart of Dallas, The Galleria is a retail landmark, drawing about 19 million visitors each year, but its general manager predicts even more traffic now that the shopping center’s seen a number of changes.

Credit: ELS Architecture and Urban Design

“Galleria Dallas has had dozens of retailers make high-profile remodels and re-openings this year,” said Angie Freed. “There’s a new and exciting energy in the center with all of these remodels, refreshes and expansions.”

Throw in the completion of construction along the LBJ Freeway and CBRE’s recent acquisition of the Galleria Towers and Galleria Dallas might help its hometown overtake Houston as the state’s retail capital.

14

November 2015

for sale Parkway West Office

4011 W. Plano Parkway, Plano, TX 75093

$3,200,000,

Multi-Tenant Office $108 per square foot 97% occupied • • • • • • • • • •

Property Size: 29,557 SF Land Size: 2.00 Acres Building Height: 26 Ft, Single Story Use: General Office Leased %: 97% Number of Suites: 22 Number of Tenants: 13 Number of Vacancies: 1 SF of Vacant Suites: 950 SF Parking: 97 + 2 handicap—99 Total

Robert Aiello, CMB 972-458-2588 Ext: 103 robert@wellsasset.com

Mike A. Wells, CCIM, CPM 972-458-2588 Ext: 104 mike@wellsasset.com www.wellsasset.com

Information was obtained from sources believed to be reliable. However, all information is subject to verification and change withoutnotice, and no guaranty, express, or implied is made as to the accuracy thereof.

Wolverine Property Management LLC

Cinco Ranch Office

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

Space Available:

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

Parking Ratio: 4 per 1,000 SF • • • •

Property Data/Attributes

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

2013 Total Pop.*

FOR LEASE

2013 Avg. HH Income*

1-mile

3-mile

5-mile

11.857

105.681

202.320

$199,351

$132,960

$124,086

*Demographic Data Source: ESRI 2015 Forecast

Contact: Roxanne Edmond 281.391.9252 Roxanne@wolverinepm.net

RETAIL SPECIAL FOCUS

GARDEN OAKS / OAK FOREST Ella Blvd & 34th Street

Retail Property to be RE:Positioned in the Heart of Garden Oaks/Oak Forest • • • • • • •

RE:Developing Existing 16,000 SF L-Shaped Building to Accommodate Modern Retail Demand RE:Purposing Existing Tire Shop Kiosk on the Hard Corner (500 SF) Prime Intersection in Garden Oaks / Oak Forest Insatiable Pent Up Retail Demand Excellent Access to/from 610 Loop 6:1 Parking Ratio Pads Available for Ground Lease

North

Ella Blvd

34th St

N BRYAN DANNA Bryan@REVIVEco.com www.REVIVEco.com

Cell: 832.455.4343 Office: 713.357.5800

November 2015

17

Major Redevelopment! Come see the AMAZING CHANGES!

MALL OF THE MAINLAND 100000 Emmett F. Lowry Expressway, Texas City, TX 77591

PROPERTY INFORMATION • New Power/Entertainment Redevelopment • Current retailers include Cinemark Movies 12, Sears, Palais Royal, World Gym, Olive Garden, Gringos, Beyond Burger, Tuscany Village Salons and Galaxy Nutrition • 7,000 new homes coming to immediate trade area • 3 miles from College of Mainland with over 5,000 students

RENT NOW CALL TODAY AT YESTERDAY’S PRICES Brokers welcome 6% commission

CONTACT INFORMATION

Deanna Jerome (409) 986-7000 (832) 282-8451 mainlandmalltx@gmail.com

1

5,500 SF

Press 0 for more information on sales or leasing

PAD SITES FOR SALE surrounding the mall

PAD SITES

10

1

2

3

4

5

6

7

1

8

9

Parcel #

Size (acres)

Size (SF)

1

4.0260

175,373

2

1.1040

48,090

3

1.0000

43,560

4

0.6037

26,297

5

4.4600

194,278

6

0.7161

31,193

7

3.9390

171,583

8

1.1060

48,177

9

9.3710

408,201

10

9.6830

421,791

Total

36.0088

1,568,543

• •

• • •

PREVIOUS RESTAURANT, BAR & GRILL

Kitchen appliances & some glass ware included, 2 walk-in coolers Located in retail shopping center & within walking distance from 4 hotels: Hampton Inn, Fair Field Inn, Best Western & Holiday Inn Express Directly across from Cinemark Movies 12, Sears, World Gym & Palais Royal Great location for neighborhood pub/ sports bar, beautiful hardwood floors Beer, wine, & liquor license can be obtained

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

LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT Windvale Shopping Center For Lease & Pad Sites Available

Kuykendahl Plaza For Lease

College Park Plaza For Lease

Research Forest Plaza For Lease

3091 College Park Dr., The Woodlands

25219 Kuykendahl Rd., Tomball

• Grocery anchored center located at the SEC of SH 242 and FM 1488 • Spaces available from 1,000-6,237 SF • .6 acre, .9 acre, 1.6 acre pad sites available • Close proximity to Lone Star Community College, The University Center, as well as major medical complexes including St. Luke’s Hospital, and opening in 216, The Methodist Hospital and Texas Children’s Hospital

• Various retail spaces available • Conveniently located on College Park Dr. (SH 242) at Interstate 45 in The Woodlands • Site is adjacent to St. Luke’s Hospital and The Woodlands College Park High School and across from Sam Houston State University and Lone Star College • Super Walmart, Lowe’s, At Home, Burlington and Kohl’s are in the immediate area

• New construction building, with 900-4,170 SF of retail space available • Monument and building signage available • Restaurant ready with grease traps and fire sprinklers in place • Located on highly trafficked Kuykendahl corridor, situated between FM 2920 and Woodlands Parkway • Site is less than 1 mile south of The Woodlands Creekside Park Village Center and 1.6 miles north of the Grand Parkway

• Located on one of the three main arteries into and out of The Woodlands • Approximately ½ mile west of I-45, in a perfect position for daily commuters • 60’ bay depths • Glass storefronts • Covered walk along full length of center

Portofino Plaza For Lease

Lakeside Commons For Lease

Harmony Plaza For Lease

Free Standing Brick Bldg.

For Sale

9420 College Park Dr., The Woodlands

19073 I-45, Shenandoah • Located ½ mile north of Research Forest Drive on Interstate 45, approximately 1 mile from The Woodlands Town Center and 5 miles from the Hardy Toll Road and the ExxonMobil Corporate Campus • Various retail spaces available • Maximum visibility on I-45

4.35 +/- Acres – Development Site For Sale

10527 SH 242, Conroe • CONTIGUOUS AVAILABLE.(1.46) (2.8870), 640+/- FF on SH 242 • Located in growing Woodlands Submarket, approximately 2 miles east of Interstate 45 • Current improvements consist of residential homes and RV storage facility • Potential Uses: Fast Food, Medical/Professional, Day Care, Automotive Service/Retail Center, among others • New Development: Methodist Hospital & Texas Children’s, Costco, Mercedes Benz Dealership • Utilities available through MUD 15

13731 FM 1097 W, Willis • Located on the SWC of FM 1097 and Longstreet Rd. West • This neighborhood center is located in the expanding northwest area of Lake Conroe • Space Available: 1,300 SF – 11,700 SF approximately • Distance from I-45: 4.5 Miles, .2 Miles to Point Aquarius & Bentwater Master Planned Development located within 3.6 miles • Potential Uses: Neighborhood Services, Dry Cleaning, Dental, Chiropractic, Liquor, Insurance, etc.

.846 Acres For Sale

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

3535 Rayford Rd., Spring • New Construction – Now Completed • Located near intersection of Rayford Rd @ Grand Parkway 99, East of I-45 North • 10,000 SF Retail Center • Adjacent to HEB Grocery Development – now completed

1500 Research Forest Dr., The Woodlands

9125 Jones Rd., Houston • 3,498 SF building, situated on .46-acre lot • Great location with 102’ of frontage on the West line of Jones Road • Located approximately .8 miles North of HWY 290 • Metal frame, brick building with a flat roof.

Currently being used for a dry cleaner with drive through lane. Equipment and business will be removed prior to sale, or maybe be purchased for an additional fee

11 Acres For Sale

40+/- Acres (Divisible) For Sale

32496 Egypt Ln., Magnolia

League Line/I-45, Conroe

• Direct access to The Woodlands via Research Forest Drive and Egypt Lane. Situated at a main ingress/ egress point for The Woodlands • Nearby national retailers including Kroger, Target, T.J. Maxx, OfficeMax, Home Depot, and Walgreen’s • Positioned near the heavily trafficked intersection of FM 2978 and FM 1488 with over 60,000 vehicles per day nearby FM 1488 • Under ½ mile east of FM 2978, and approximately 6 ½ miles from I-45 • Woodforest, a 3,000-acre (5,500 homes), MASTERPLANNED COMMUNITY, just north of FM 1488 on Honea Egypt Road • Utilities available

• Pad sites from 1.25-acre to 4 +/- acres fronting Interstate 45 • Potential retail, restaurant, office, medical, hospitality, assisted living, multi-family and other commercial uses • Northwest corner of I-45 and League Line Road in Conroe, TX • Adjacent to “The Grand”, a 14-screen movie theater and 80,000 SF medical office development • High traffic count in excess of 75,000 cars per day

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

281.367.2220 jbeardcompany.com

ICSC Booth #1623

November 2015

19

This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.

BUYING POWER O

1604

10

410

281

WHY CONVER

35

CONVERSE

1604

90

10 SAN ANTONIO 90

N

410 Located on Loop 1604, the City of Converse has easy access to IH-35, IH-10 & San Antonio

Tax abatements & incentives are being offered to qualifying business

With more than 200 homes on t growing -- Converse boasts a pop since 1990. Converse is one of the near San Antonio, and one of the young families, Converse has near a pro-business climate. Turning aro and placing customer service as a more than 200 businesses have alr

ConverseEDC.com • 210.659.9163

Visit

OF $955 MILLION

RSE? It’s simple, really.

the ground every year -- and pulation increase of over 165% e most affordable places to live e safest. An ideal location for rly 1,000 developable acres and ound permits in 30 days or less a priority, it’s little wonder why ready chosen Converse.

City of Converse EDC: 2014 IEDC Gold Award for Sustainable & Green Development

City of Converse EDC: 2014 IEDC Bronze Award for General Purpose Brochure

City of Converse EDC: 2013 City of San Antonio Green Practitioner Award

City of Converse: 2013 Municipal Leadership Award from Build San Antonio Green

t us at Booth #549 at the ICSC Texas Deal Making Conference • Nov. 4-6!

www.District-West.Com

Visit us to download flyers & plans

Office Condo’s For Sale

Corey Ferguson, CCIM 713-582-4644 corey@raintreecommercial.com

Bobby Ferguson 281-793-8000 Bobby@district-west.com

Y

Greenberg & Company

Retail-Office-Industrial-Property Management-Development-Aquisitions Tenant Representation Landlord Representation

Commercial Real Estate Brokerage Firm

Great locations - major thoroughfare - great visibility

9703 Westheimer Houston, TX 77063

11681 Westheimer Houston, TX 77077

8201 W. Sam Houston Parkway Houston, TX 77072

Retail/Bank/Medical/Drive Thru

Existing Restaurant

Excellent Visibility - Prime Intersection

Westheimer @ Gessner

Between Kirkwood & Wilcrest

Traffic Count: 122,288 & 26,966

Building Size: 4,433 SF

Retail/Office/Medical

Land Size: 0.35 Acres Building Size: 11,320 SF

• Major Thoroughfare • Great Signage & Visibility

Land Size: 1.5 Acres

• Parking up to 700 cars w/crossover parking rights.

• New Traders Joe’s coming soon - located next door

Lease Price: Call For Details

Lease Price: Call For Details

Beechnut @ Beltway 8

3,005 SF Available

Building Size: 8,702 SF

• Signage - Great Visibility • Ideal for Restaurant/Office or Medical

Lease Price: Call For Details

5959 1Richmond Avenue, Suite 440 Houston, TX 77057 - Phone: 713-778-0900 - WWW.GREENBERGCOMPANY.COM 10/14/15 1:28 PM

RedNewsAd.pdf

GREAT INVESTMENT OPPORTUNITY!

LA BUENA VIDA VINYARDS ONE OF THE OLDEST VINEYARDS IN TEXAS

49± rolling acres with 10 irrigated acres producing up to 40 tons of eight grape varieties Established in 1972 in Springtown, Texas Home To Smith Estates Wines & Nanie Bell Artisan Cheese

• sales/tasting room • crushing and pressing facilities • bottling equipment • central cellar with 35,000 gallons of tanks and barrels • BATF and TABC permits • approved labels including grandfathered Port & Champagne

• cheese making equipment/facilites • 600 sq.ft. caretaker house • 800 sq.ft. two bedroom house • 2500 sq.ft. farm equipment building • 600 sq.ft. steel & concrete building • 800 sq.ft. storage building • 7644 sq.ft. winery building • 3 water wells

Contact Billie Farrar, Farrar Commercial Real Estate 817/277-4411 • Email FarrarRE@aol.com

Land Size: 1.1 Acres

FOR SALE > PREMIER DEVELOPMENT SITE

listings +/- 16 Acres

FM 529 AND FRY ROAD, HOUSTON, TX 77449

FOR SALE > PREMIER DEVELOPMENT SITE

A SELECTION OF COLLIERS INTERNATIONAL AVAILABLE RETAIL INVESTMENT OPPORTUNITIES

FOR SALE

11.77 Acres

FM 529 AND FRY ROAD, HOUSTON, TX 77449

FOR LEASE

FOR SALE JUDD HARRISON 713 830 2196 judd.harrison@colliers.com CHRISTOPHER D. WINTERS 713 830 2106 chris.winters@colliers.com

Premier Development Site 529 and Fry Rd. +/-16 Acres FM Houston, TX 77449 Property Overview > Pricing:

$3,824,000 ($5.25 SF) (whole tract)

> Grand Parkway is now open, located 3

> Available Acreage: +/- 16.7244 Acres

miles west of the property

> Utilities:

Harris County MUD #157, Tax Rate: $0.845

> Flood Plain:

Not located within the 100 year flood plain

> Detention:

Regional Detention Pond available

> FM 529 widening is now complete

406Q > Key Map: here for additional information • Pricing: $3,824,000 ($5.25 SF)Click(whole tract) • Available Acreage: +/- 16.7244 Acres • Utilities: Harris County MUD #157, Tax Rate: $0.845 • Flood Plain: Not located within the 100 year flood plain • Detention: Regional Detention Pond available • Key Map: 406Q CHRISTOPHER D. WINTERS 713 830 2106 HOUSTON, TX chris.winters@colliers.com

COLLIERS INTERNATIONAL 1233 West Loop South | Suite 900 Houston, TX 77027 www.colliers.com

BILL BYRD, CCIM, SIOR 713 830 2131 HOUSTON, TX bill.byrd@colliers.com

colliers.com/p-usa1001160 CHRISTOPHER D. WINTERS Principal | Director +1 713 830 2106 chris.winters@colliers.com

Pad Site - Plantation Village Premier Development Site This Way St. 529 and Fry Road Shopping Ctr 401-443 11.77 Acres FM Lake Jackson, TX 77566 Houston, TX 77449 Property Overview > Pricing:

• Pad Site: +/- 37,500 SF • Location: SWC Hwy 288 and This Way Street, adjacent to Dow Chemical’s new corporate campus • Excellent visibility and access for tenants and customers to Hwy 288 • Approximately one half mile from Brazos Mall • One half mile from the new 80,000 SF HEB grocery store

1 8 7

A C R E S

• • • •

> Utilities:

Provided by Harris County MUD #157

> Flood Plain:

Not located within the 100 year flood plain

> Grand Parkway is now open, located 3 miles west of the property

> Access Easement in place to Fry Road

Pricing: $3,589,000 ($7.00 SF) > FM 529 widening is now completed > Key Map: 406Q > Detention: On-site detention required Available Acreage: 11.77 Acres > New Fiesta anchored retail center now Utilities: Harris County MUD #157 open Flood Plain: Not located within the 100 year flood plain Click here for additional information • Detention: On-site detention required • Key Map: 406Q • Newly opened Grand Parkway located 3 miles west of site

colliers.com/p-usa1006696

CHRISTOPHER D. WINTERS 713 830 2106 HOUSTON, TX chris.winters@colliers.com

BILL BYRD, CCIM, SIOR 713 830 2131 HOUSTON, TX bill.byrd@colliers.com

COLLIERS INTERNATIONAL 1233 West Loop South | Suite 900 Houston, TX 77027 www.colliers.com

colliers.com/p-usa1001198

SERVICES PROVIDED Acquisitions | Investment Sales | Leasing | REO Dispositions | Asset Management CHRISTOPHERWINTERS.COM

E X C L U S I V E + / -

$3,589,000 ($7.00 SF)

> Available Acreage: 11.77 Acres

|

I G L O O

O F F E R I N G R D

|

K A T Y ,

T E X A S

. LAND SIZE: +/- 187 ACRES . ASKING PRICE: $50K / AC . FORT BEND I.S.D. . NO FLOODPLAIN . THIS SITE IS LOCATED AT THE NORTHEAST CORNER OF IGLOO RD. AND THE FUTURE ROESNER RD. IN FORT BEND COUNTY. . MASTER PLANNED COMMUNITIES IN THE AREA (SHOWN IN BLUE) INCLUDE: CINCO RANCH (NEWLAND COMMUNITIES), CROSS CREEK RANCH (JOHNSON DEVELOPMENT), FIRETHORNE (JEFFERSON DEVELOPMENT) AND TAMARRON LAKES (DR HORTON).

3 2 0 0 S O U T H W E S T F R E E WAY, S U I T E 3 0 0 0 | H O U S T O N , T E X A S 7 7 0 2 7 | 7 1 3 . 5 3 5 . 2 2 0 0 | M C A - R E . C O M

moreland PROPER TIES | Austin’s Exclusive Christie’s Affiliate moreland.com

HALTOM CITY OFFERS OVER 300

ACRES OF LAND FOR COMMERCIAL AND MIXED-USE DEVELOPMENT.

Major retail and commercial development opportunities along Interstate 820 in Haltom City.

Great highway frontage and close approximation to Interstate 35W, downtown Fort Worth and adjacent to residential growth Tax Increment Finance Zones

5024 Broadway Avenue \ Haltom City, Texas 76117 \ 817-222-7723 \ HaltomCityTX.com

Exclusive Texas Ranch 3,278+ Acres near Houston, Texas

Cullen Ranch

Unparalleled convenience, be at your retreat in minutes

User/Investor/Corporate Retreat • • • • • • • • • • • • • • • • •

3,278.75 acres close to Houston, TX 4-bedroom Luxury Hunting Lodge 4-bedroom Luxury Ranch House Pool, Jacuzzi, indoor/outdoor fireplaces Accommodates up to 24 adults in style Three ten-acre ponds and two lakes Exotic & native wildlife Hunting & fishing at its finest including sporting clay range High fenced Automatic gates with gate code access Timber, leasing & game sales represent a significant potential income $16,393,750 Sale Price, $5000/Ac Steam showers Custom Ralph Lauren furnishings included Ducks unlimited pond projects Equipment, implements, storage barn and dog kennels Chefs kitchen with commercial grade appliances

Grand Parkway

Jason Shaw Meredith Cullen (281) 546-9237 (713) 444-7979 jshaw@cullenrealtygroup.com mtcullen@cullenrealtygroup.com

P R I M E U P TO W N H O U S TO N

FOR SALE OR FOR LEASE

•

BRING ALL OFFERS!

9920 Gulf Freeway

S T O R A G E FA C I L I T Y

HOUSTON, TX 77034

5603 5611

Price: $3,900,000 Lease: Negotiable

&

Houston, TX 77034

Property Information:

Lease: Negotiable 

Priced Well Below Replacement Cost ($89 / SF)

10 Min from Downtown Houston



LE

250,000 VPD



SA



R

Year Built: 1975 (Remodeled 2007) New MEP and Sprinkler System

2 Min From Hobby Int. Airport

Contact: Tommy Torres

Building Size: 48,000 SF Lot Size: 2.276 Acres Priced well-below replacement cost ($89 / SF) Year Built: 1975 (Remodeled 2007) New MEP and sprinkler system 250,000 VPD 10 minutes from Downtown Houston 2 minutes from Hobby International Airport

O



Building Size: 48,000 SF Lot Size: 2.276 Acres

|F



s re Ac

Price: $3,900,000

-3

+/

S. Rice Ave Houston, TX 77081

• • • • • • • •

listings@grgcommercial.com 281-803-9257

The information provided herein was obtained from sources believed reliable, however Gil Ramirez Properties, LLC. makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior to sale or lease, or withdrawal without notice.

BOB BERRY

VAL FESTARI

713.993.7705 bob.berry@avisonyoung.com

713.993.7838 valentino.festari@avisonyoung.com

Contact: Tommy Torres

listings@grgcommercial.com 281-803-9257

The information provided herein was obtained from sources believed reliable, however Gil Ramirez Properties, LLC makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior to sale or lease, or withdrawal without notice.

vs.

The Other Guys

• •

Serving the Texas CRE and lending communities for over 20 years • Premier full service environmental consulting firm • Internally staffed with licensed and certified professionals Over 18,000 Phase I ESAs and related environmental services performed The Other Guys

Professional Engineering Firm

?

Professional Geoscientist Firm

?

*Licensed Asbestos Consultant Agency

?

*Licensed Mold Assessment Company

?

*Certified Lead Firm

?

LPST Corrective Action Specialist

?

Professional Liability Errors and Omissions Insurance

?

engineers.texas.gov

tbpg.state.tx.us

dshs.state.tx.us

dshs.state.tx.us

dshs.state.tx.us

tceq.texas.gov

Meeting or exceeding minimum Industry Standard $1,000,000 per occurrence.

*All businesses and individuals consulting on asbestos, mold or lead based paint in Texas are required to have a state license or certification, even just for discussing these potential issues with a client. Licensing ensures that qualified professionals with proper insurance service your environmental needs - IT'S THE LAW.

FACT: Less than 10 Phase I ESA companies serving Texas can even be compared to Phase Engineering, Inc.’s Licenses & Certifications To find out how choosing the right environmental consulting firm can help your transaction be successful, please contact us.

Melanie Edmundson, P.G., Principal Mobile 713 826 3342 Melanie@PhaseEngineering.com

Morgan Moliver, Client Services Manager Mobile 817 821 2565 Morgan@PhaseEngineering.com

www.PhaseEngineering.com

events social bulletin

Scoop

The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to REDNews.com. We update CRE news and events daily!

November 2015

31

events

CENTRAL SOUTH TEXAS

November 2015 Calendar The events listed are confirmed at the time of printing. Please make sure check with the event host for any changes. For the full listing of events, visit REDNews.com.

BREAKFAST

ULI AUSTIN

statewide product council forum

ULI AUSTIN

breakfast

Nov 18 7:30am–9am.

austin.uli.org/events/2015-11

EDUCATION IREM AUSTIN

ethics for the real estate manager (ETH800)

Nov 10 Addressing ethical dilemmas commonly faced by today’s real estate managers, this media-based course teaches strategies for resolving ethical dilemmas and adherence to the IREM Code of Professional Ethics, culminating in an exam to earn IREM credentialing credit. 8am–4pm.

iremaustin.org

Nov 12–13 The Forum brings together Local Product Council members from all over Texas.

Between networking, touring and learning, members are treated to the best our host city has to offer.

IREM AUSTIN

2015 forecast forum

Nov 19 Join the Forum to hear keynote speaker Admiral Bobby Inman give his talk about Speculating About the Global Economy. Also hear expert perspectives on Austin real estate.

8am–10:45am.

iremaustin.org

LUNCHEON CREW AUSTIN

joint luncheon with ccim & presentation by marny lifshen

Nov 17 Join us for award-winning and nationally recognized expert on networking, communication and branding, author and speaker Marny Lifshen. 11:30am–1pm.

MEETING IREM AUSTIN

2016 leadership orientation meeting Nov 3 8am–1pm.

iremaustin.org ULI AUSTIN

program committee meeting Nov 3 11:30am–1pm.

BOMA AUSTIN

november executive committee meeting Nov 5 11:30am–1pm.

ULI AUSTIN

product council | housing and community development Nov 5 7:30am–9am.

CBA AUSTIN

Nov 5 9am–10am.

leadership orientation meeting iremsanantonio.org

http://cbaaustin.org/events

RECA

CTAR

Nov 9 12pm–1pm.

networking luncheon & presentation “election results & analysis”

Nov 19 Join Representatives Paul Workman and Eddie Rodriquez for an informative luncheon.

11:30am–1pm.

http://www.ctcaronline.com/events BOMA AUSTIN

annual membership November 2015

bomaaustin.org/events

IREM SAN ANTONIO

Nov 18 11:30am–1pm.

32

Nov 19 Join BOMA Austin for their annual membership meeting and the induction of 2016 Officers, Members of the Board of Directors, and Committee Chairs.

11:30am–1pm.

crewaustin.com/web227/ eventscalendar/calendar.asp

luncehon

Admiral Bobby Inman

luncheon/meeting

regional issues committee recaonline.site-ym.com/events/ event_list.asp BOMA AUSTIN

committee chair orientation

Nov 12 This formal orientation will help members become better acquainted with BOMA Austin.

This session is the first step to ensure that you are active, engaged, educated, and ready to participate in

Marny Lifshen

the governance of the organization.

3pm–7pm.

RECA

executive committee retreat Nov 12 5:30pm–8:30pm.

RECA

november ideas forum Nov 17 11:15am–1pm.

ULI AUSTIN

young leaders committee meeting Nov 18 7:30am–9am.

ULI AUSTIN

management committee meeting Nov 19 11:30am–1pm.

SOCIAL IREM AUSTIN

fall social

Nov 12 5pm–8pm.

IREM SAN ANTONIO

tour & social

Nov 12 4pm–6pm.

November 2015

social

CENTRAL SOUTH TEXAS CREW SAN ANTONIO

OCTOBER LUNCHEON ANDNATIONAL CONVENTION From Top: Bobbi Girardeau and Beverly Fortner.

Jackie Browning with 3 UTSA Students (Jaquelynn Romero, Jenna Stoeltje, and Jazzel Aguirre) at the CREW Network Convention in Seattle, WA. 20 members of CREW San Antonio attended the CREW Network Convention in Seattle!

Dena Welch, Christy Rhone, Maggie Seay, and Yesenia Dominguez at the CREW Network Convention in Seattle WA.

RECA

RECA

From Top: Congratulations to John Youngblood for winning a ticket to a RECA Ideas Forum luncheon.

From Top: Panel moderator, Jim Spencer and panelists Larry Weis, Austin Energy, Ken Price, LCRA, Greg Meszaros, Austin Water Utility, John Hewa, Pedernales Electric Cooperative

ANNUAL MEMBERSHIP RECRUITMENT PARTY

Max Reinbach III, Stream Realty Partners, Nick Pyka, Winstead.

Amber Fowler, GSC Architects, Joe LaRocia, GSC Architects.

SEPTEMBER IDEAS FORUM

Event attendees Amin Noorani and Tabette Stewart.

Attendees Lindsay Hyduk, Hayden Schrimpf and Shannon Perry Nichols networking during reception time.

Packed house for the Earth, Wind & Wire RECA Ideas Forum at the Four Seasons.

November 2015

33

events

NORTH TEXAS

November 2015 Calendar The events listed are confirmed at the time of printing. Please make sure check with the event host for any changes. For the full listing of events, visit REDNews.com.

BREAKFAST BOMA DALLAS

principal member plus one breakfast

Nov 12 Come hear United States Congressman Pete Sessions.

7:30am–9am.

EDUCATION BOMA DALLAS

networking & attire etiquette seminar Nov 3 5:30pm–7pm.

bomadallas.org/calendar_list.asp CREW FORT WORTH

stockyards redevelopment Nov 4 Come hear Kerby Smith with Majestic Realty Co. and the revitalization of the Stockyards.

11:30am–1pm.

NTCAR

office property tour Nov 6 11am–4pm.

ntcar.org/events/upcoming CCIM INSTITUTE

ci 101 course - financial analysis for commercial investment real estate

Nov 10 - Learn to apply the CCIM Cash Flow Model to make your investment decisions based on wise investment fundamentals.

8am–5pm.

Nov 12 Come update your market knowledge, interact with peers, share your property listings, needs & ideas. 7:30am–9am.

ctcaronline.com/events NTCAR

mce: maximize your brokerage income with legal & ethics

Nov 12–13 Join instructor Nick Nicholas, CRE, CCIM, MAI, a commercial real estate veteran, and learn real world perspective. 12pm.

CTCAR

ce course “commercial lease negotiation”

Nov 18 Join instructor Kinski Moss of Texas Association of REALTORS and learn about commericals leases and administrative matters. 1pm–3pm.

LUNCHEON BOMA FORT WORTH

34

November 2015

Nov 18 11:30am–1pm.

crewfw.org/calendar.php

new member orientation

Nov 4 11:30am.

IREM DALLAS

joint luncheon with crew

BOMA DALLAS

ULI NORTH TEXAS Nov 5 7:30am–9am.

ULI NORTH TEXAS

BOMA DALLAS

northtexas.uli.org/events

programs committee meeting Nov 10 TBA

CREW FORT WORTH

communications/pr committee meeting Nov 10 9am–9:30am.

programs committee meeting ULI NORTH TEXAS

ULI NORTH TEXAS

Nov 18 11:30am–1pm.

CTCAR

networking luncheon & presentation “election results & analysis”

Nov 19 Presentation features Representatives Paul Workman and Eddie Rodriquez.

11:30am–1pm.

toastmasters: kick off happy hour

Nov 5 Come develop public speaking skills as well as learning and networking with your peers.

4pm–5:30pm.

multifamily product council meeting

Nov 17 11:30am–1pm.

public luncheon

Nov 18 TBA

SOCIAL

BOMA DALLAS

monthly luncheon

CREW DALLAS

irem-dallas.org/events

Nov 4 TBA

young leaders group executive committee meeting

Nov 17 11:30am–1pm.

november luncheon

executive council meeting

Nov 11 11:45am–1pm.

CCIM INSTITUTE

crew-dallas.org/Events.aspx

property information exchange

treasury committee meeting

bomafortworth.org/events

BOMA DALLAS

CTCAR

CREW FORT WORTH

CREW FORT WORTH

Nov 3 11:30am.

CREW DALLAS

Nov 11 This course features applications and problems you can use to create building and facilities’ budgets. 8am–5pm.

IREM DALLAS

monthly luncheon

ccimtexas.com/web243/events/ default.asp

bomi course: budgeting & accounting - accelerated

MEETING

Nov 11 TBA

ntcar 4th quarter membership meeting Nov 12 7:30am–9am.

NTCAR

4th quarter membership meeting Nov 12 7:30am–9am.

ULI NORTH TEXAS

management and advisory board meeting Nov 17 TBA

foundation masquerade gala

Nov 20 Join the BOMA Dallas Foundation for an evening of music, drink, prizes and more! Your participation will help support Our Friends Place, the selected charity that helps to provide a foundation for girls and young women to build from adversity by learning a self-reliant approach to their own development. 6:30pm–10:30pm.

November 2015

social

NORTH TEXAS CREW DALLAS

EVENING OF OUTSTANDING ACHIEVEMENT AND 35TH ANNIVERSARY

October 2015

From Top: The four finalists for CREW’s 2015 Outstanding Achievement Award are from left to right, Brenda Blake, Kennis Ketchum, Rebecca Tudor, and Michelle Hudson.

CREW honored Kennis Ketchum as the winner.

Teresa Giltner, president-elect of CREW, guest speaker, journalist and author Joanne Lipman; and Leigh Richter, the 2014 OAA winner. All three of the women made a presentation at the event, which was attended by a sold-out audience at the BELO Mansion.

It was An Evening of Outstanding Achievement for several women who have been dedicated to CREW Dallas for years. The women shown are past recipients of the Outstanding Achievement Award (OAA) and they welcomed Kennis Ketchum (seated 2nd from right) as the 2015 OAA.

NORTH TEXAS CCIM

NORTH TEXAS CCIM

From Top: CI 104 Instructors Joe Fisher, CCIM and Robin Dyche, CCIM held in Addison at the Addison Conference Center in September.

From Top: Chapter President Joe Garret, CCIM and Vice President Saadia Sheikh smile for the camera.

CI 104 COURSE

CI 104 students studying hard!

21ST ANNUAL SPORTING CLAYS EVENT

Everyone preps for the safety demonstration out at the Dallas Gun Club before the shooting tournament begins!

UNT Volunteers with Dr. John Baen, professor of Real Estate at UNT.

November 2015

35

events

SOUTHEAST TEXAS

November 2015 Calendar The events listed are confirmed at the time of printing. Please make sure check with the event host for any changes. For the full listing of events, visit REDNews.com.

EDUCATION IREM HOUSTON

investment real estate financing and valuation part one (asm603)

Between networking, touring and learning, members are treated to the best our host city has to offer.

11:30am.

houston.uli.org/events

Nov 2–3 Utilize financial tools that will build value and increase income for your business holdings.

8am –3pm.

CREN HOUSTON

HOUSTON CORENET GLOBAL

LUNCHEON

iremhouston.org/calendar/october

neighborhood events designing real estate plans that don’t break Nov 3 Kevin Kelly will present how statistical forecasting and optimization techniques can be used to design robust location and real estate strategies that perform well over a broad range of future conditions. 8am–2pm.

network.corenetglobal.org/events/ calendar IREM HOUSTON

bacren.com/events-calendar

crengulfcoast.com/calendar.php

HOUSTON CORENET GLOBAL

CREN HOUSTON

luncheon

Nov 6 11am–1pm.

CCIM HOUSTON

november luncheon Nov 12 11:30am–1pm.

ccimhouston.org/events/calendar IREM HOUSTON

november awards luncheon Nov 13 11:15am–1pm.

IREM HOUSTON

investment real estate financing and valuation part three (asm605)

Nov 6 Think strategically and apply your new knowledge from ASM603 and ASM604 to “real-world” investment scenarios. This course features in depth discussion and hands-on application of concepts used to perform multiple cash flow analyses. 8am–5pm.

ULI HOUSTON

all texas council forum

November 2015

Nov 19 10:30am.

MEETING

Nov 20 7:30am–9am.

Nov 4 Learn how to determine the performance of real estate assets using a variety of measurement tools and approaches. 8am–3pm.

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monthly luncheon: speaker barbara cutsinger

marketing session

investment real estate financing and valuation part two (asm604)

Nov 12–13 The Forum brings together Local Product Council members from all over Texas.

BACREN HOUSTON

Palmer Course at The Woodlands Country Club

monthly meeting The future is a foreign country

Nov 10 Drawing on 8 years experience in the coworking industry- as an operator, coworking strategist, and academic researcherthis talk draws out the emerging cultural assumptions that underlie the success of the coworking movement. 7:30am –9am.

SOCIAL HOUSTON CORENET GLOBAL

13th annual corenet charity golf tournament Nov 2 Join the CoreNet Global Houston Chapter’s Annual Charity Golf Tournament at The Woodlands Country Club Palmer Course benefiting New Hope Housing.

10:30am–7pm.

BOMA HOUSTON

maintenance olympics: engineer all-stars Nov 14 10am–1pm.

houstonboma.org/events

CREW HOUSTON

From Top: Morgan Moliver, Phase Engineering and Shelly Carroll, Veritas Title Partners.

SOUTHEAST TEXAS

Event speaker, Marci Rossell, CNBC Economist and Co-host of Squawk Box. The successful event took place at the Hilton – Post Oak in Houston, TX. Event speaker, Marci Rossell and CREW Houston President, Debra Gilbreath.

IREM

FOOD FEST 2015

TARANTINO OKTOBERFEST

From Top: Reggie Gray, Greenspoint Chamber of Commerce.

October 2015

social

November 2015

ANNUAL BUSINESS LUNCHEON & ECONOMIC OUTLOOK

Patrick Frese, Tarantino Properties and Dan Silvestri, Silvestri Investments.

Greg Simpson, President of Greenspoint District.

Meghan Allen, Tarantino Properties, Dan Silvestri, Silvestri Investments, Peggy Rougeou, Tarantino Properties, Anthony Tarantino, Tarantino Properties, Janie Colin, Tarantino Properties, Kim Brake, Tarantino Properties

CREN

OCTOBER LUNCHEON From Top: Vishakha S. Deora, Green Bank and Bri Martinez, REDNews.

Guests networking at the successful event that took place at H.E.S.S. in Houston, TX. Event speaker, Mark Cover, Senior Managing Director and CEO for Hines Southwest Region.

November 2015

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CENTRAL TEXAS

Austin/San Antonio Areas

AUSTIN HOTEL CONSTRUCTION

JCI Hospitality LLC, an Austin company, is building a 190 room Hyatt House Hotel at 901 Neches Street in downtown Austin and also has Hotel Indigo/ Holiday Inn Express nearing completion in the same block.

White Lodging Corp is building a 32-story Aloft Austin Downtown & Element Austin Downtown at Congress Avenue & Seventh Street.

INDUSTRIAL LEASE

Carisi Inc leased 22,206 sq. ft. at Rutland Business Park, 2105 Denton Drive. Brian Liverman, Ryan Fanning and Tom Rhea with Peloton Commercial Real Estate represented the landlord and Doug Jones with Colliers International represented the tenant.

INDUSTRIAL SALE

Austin-based developer Chris Milam purchased the former Freescale Semiconductor Inc campus at 3443 Ed Bluestein Blvd. The 935,255 sq. ft. campus sits on 109 acres. The project will be converted into a data center and value office space.

SAN ANTONIO OFFICE SALE

Texas General Land Office is buying three major historic buildings across from the Alamo, raising the potential for a plaza renovation or a new museum to house artifacts. The buildings include the Woolworth, Palace & Crockett buildings at 518 E. Houston, Street, 219 Alamo Plaza and 321 Alamo Plaza. The seller is Service Life & Casualty Insurance Company of Austin.

Marshall Davidson, Jr. is now the principal & managing director of Avison Young San Antonio.

Andrew Lodeesen has joined Peloton ‘s construction management team.

INDUSTRIAL SALE

Industrial Property Trust, a Denver-based property investment firm, bought four buildings within the Tuscany Center at Walnut Creek from Crow Holdings for $30,743 million or $92 sq. ft. The buildings total 334,250 sq. ft.

MIXED-USE CONSTRUCTION

A 126,000 sq. ft. mixed-use project,Gateway to Falconhead, is under construction in Bee Cave. The 14-acre site is being developed by Pathfinder PDP Retail LLC with St. Croix Capital Advisors handling marketing, sales & leasing.

MULTI-FAMILY SALE

Cortland Partners, an Atlanta investment company, purchased City View, a 308-unit project located at 4900 E. Oltorf from Carlsbad, CA-based Virtu Investments. Patton Jones with ARA, A Newmark Company, represented the seller.

OFFICE LEASE

Prologic Technology Systems

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November 2015

(PTS) leased 10,324 sq. ft. at Broker Pointe I & Admiral/ Berkley Insurance leased 10,308 sq. ft. at Braker Pointe II located at 10801 N. MoPac Expressway. Bart Matheney, Ben Tolson & Chad Barrett of Aquila Commercial handled leasing.

OFFICE LEASE

Regus has leased +/-18,000 sq. ft. at Lamar Central located at 38th Street & North Lamar Boulevard. Cushman & Wakefield/Oxford Commercial represented the tenant and John Childers & Jake Ragusa of JLL represented the tenant.

OFFICE SALE

AFIAA Swiss Foundation, comprised of 40 Swiss pension funds, purchased the 116,437 sq. ft. 501 Congress Avenue building in downtown Austin as well as the adjacent 297-car parking garage at 120 E5th Street.

Representatives with Eastdil Secured represented the seller, a JV between Stream Realty Partners & Heitman.

COLLEGE STATION STUDENT HOUSING CONSTRUCTION

Sterling University Housing, the student housing division of The Dinerstein Companies is building a 750 bed student housing project in the Northgate area, close to Kyle Field. The project will include a rooftop pool and hot tub along with other amenities.

LAKEWAY RESIDENTIAL DEVELOPMENT

Developers Haythem Dawlett, founder & principal of Legend Communities & Tommy Tucker, Central Texas residential VP for Crescent Communities announced the development of The Peninsula at Rough Hollow, an 1800 acre project located at 903 Highlands Blvd in Lakeway.

This is, reportedly, the last gated community to be developed on the south side of Lake Travis.

LEANDER RETAIL DEVELOPMENT

Randalls Food Markets is building a 59,000 sq. ft. store southwest of the Lakeline

Blvd & Crystal Falls Parkway intersection. The store will anchor a new shopping center with +/- 23,000 sq. ft. additional space for lease.

MANOR RETAIL PAD SITE SALE

Advance Auto Parks purchased a 43,560 sq. ft. pad at Manor Commons, US 290 & FM 973. Cole Brodhead of Retail Solutions represented the seller and Daren Nix of Edge Realty Partners LLC represented the buyer.

ROUND ROCK OFFICE CONSTRUCTION

W2 Real Estate Partners, the spin-off company of Simmons Vedder Partners will build a $100 million office campus that will include 400,000 sq. ft. in La Frontera. The project is located near Texas 45 & Mopac Boulevard (Loop 1).

SAN ANTONIO LAND SALE

HEB Grocery Company, LP purchased 29.16 acres on Rittiman Road from Rittiman Road Joint Venture. John Turcotte of REOC San Antonio represented the purchaser.

OFFICE SALE

Three Forks Ranch LLC sold a 4,169 sq. ft. building at 507 Austin Highway from Novo Castellus. Blake Bonner of REOC San Antonio brokered the transaction.

RETAIL LEASE

Old Castle Materials of Texas leased 5,040 sq. ft. at Village of Live Oak, 12315 Judson Road. C. Michael Morse & Blake Bonner of REOC San Antonio handled the transaction.

DALLAS MULTI-FAMILY SALE

Highland Road Village Apartments, a 332-unit project, sold to an out-of-state buyer.

Taylor Snoddy, Philip Wiegand & James Roberts of Transwestern represented the seller.

MULTI-FAMILY CONSTRUCTION

Mill Creek Residential, through a JV with Elite International Investment Fund is building Modera Galleria, a 321 unit project at Noel Road & James Temple Drive.

OFFICE CONSTRUCTION

Dallas-based developer Harwood International plans to build a 22-story, 228,000 sq. ft. office tower located in Harwood District. The building will be called 2850 and will begin when the building is 65% preleased.

OFFICE LEASE

McDermott Will & Emery LLP leased 25,267 sq. ft. at Saint Ann Court in Harwood International. Jihane Boury, with Harwood International handled the transaction along with Jim Graham of Colliers International.

OFFICE SALE

Engineering firm JG is moving its headquarter from Austin to Dallas and purchased a 31,000 sq. ft. Design District building at 100 Glass Street.

RETAIL LEASE

Seattle-based REI is opening a 22,050 sq. ft. store at Waterside off Arborlaw Drive & Bryant Irvin Road in southwest Ft. Worth.

Opening is planned for late 2016.

GRAND PRAIRIE INDUSTRIAL SALE

Private equity real estate investment firm Cabot Properties purchased 18.4 acres for development of Trinity Crossing, a two-building, 322,853 sq. ft. industrial facility located at Ry Orr & Trinity boulevards.

The project will be developed and leased by Stream Realty Partners.

INDUSTRIAL SALE

Dallas-based privately held real estate investment firm Mohr Capital has begun construction on a new 20-acre, 430,188-square-foot Class A industrial development along Barding Road in Grand Prairie.

RETAIL CONSTRUCTION

The Swedish company Ikea has submitted plans to the City of Grand Prairie to open a store in the fall of 2017.The 293,000-sf store will be built north of I-20 on 32 acres along the east side of SH 161 and Mayfield Rd.

IRVING OFFICE LEASE

The 45,370 sq. ft. 2620 W. Mockingbird Lane building sold.

Transwestern Principal Michael Griffin represented the buyer.t

Animal Supply Company leased 23,386 sq. ft. at Urban Center, 600 E. Las Colinas Blvd. Cresa brokerage team Alex Coe, Gregg Fielder and Jeff Pappas handled the transaction.

FORT WORTH

PLANO

INDUSTRIAL CONSTRUCTION

INDUSTRIAL CONSTRUCTION

OFFICE SALE

Wal-Mart Stores Inc. is constructing a new 1 million sq. ft. building at 15191 N. Beach Street at Alliance Texas. The building will be their second Dallas-Fort Worth distribution hub. The facility will open 1stQ 2016.

MULTI-FAMILY CONSTRUCTION

Ventures Development Group is constructing a five-story, 209-unit project at the corner of Jennings & Broadway Avenues n the Near Southside Community of downtown Fort Worth.

Equinix has invested $20 million into expanding its data center at Plano Legacy Business Park by 40,000 sq. ft. for a total of 250,000 sq. ft.

MULTI-FAMILY CONSTRUCTION

Palladium USA International has purchased 2.1 acres in Legacy West to build a 30-story, 312-unit high-rise located at the SWC of Columbus Avenue & Windrose Avenue.

OFFICE/TECH CONSTRUCTION

Lincoln Property Company has debuted Legacy VI & VII, a 245,508 sq. ft. speculative office & tech center on a 24-4 acres, three-building campus.

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NORTH TEXAS

Dallas/Fort Worth Areas

SINGLE-FAMILY DEVELOPMENT

Homebuilder Scott Felder Homes DFW is building 126 detached single family townhomes in Legacy West called Villas at Legacy West.

RICHARDSON INDUSTRIAL LEASE

AppFolio, a cloud based property management software company, leased 24,479 sq. ft. in Cardinal Park between International Parkway & N. Plano Road. Joshua Barnes & James Engels at Holt Lunsford Commercial represtend the landlord, Adler Kawa Real Estate Advisors.

SOUTHLAKE REGIONAL CENTER CONSTRUCTION

Omaha, Neb.-based online stock broker TD Ameritrade purchased 78 acres of SH 114 for a regional campus for its +/- 1200 North Texas employees. The campus will consolidate the company’s call center, technology & operations staff from two offices buildings in Fort Worth.

MIXED-USE DEVELOPMENT

Frank Bliss, developer of Southlake Town Square, anticipates adding up to 700,000 sq. ft. of offices, retail, restaurants & hig-end residential to the development within the next several years.

VERNON

DALLAS INDUSTRIAL LEASE

Global online retailer Amazon.com leased the 500,000 Sq. ft. building at 33333 Lyndon B. Johnson Freeway for a fulfillment center. Kacy Jones and John Hendricks with CBRE Dallas represented the landlord.

Cindy Burkett has joined Biel Partners as vice president.

Cindy Dao has joined Coldwell Banker Commercial Alliance DFW as an associate in their Healthcare Brokerage, Development division.

Tom Baty has joined Capstone Commercial Real Estate as a Director.

RANCH SALE

A contract to sell the 510,000acre Waggoner Ranch, located northwest of Dallas-Fort Worth, could be in place by year end.

The deal will be one of the biggest real estate transaction in U.S. history with a list price of $725 million. Brokers Bernie Uechtritz of Briggs Freeman Sotheby’s International Realty of Dallas and Sam Middleton of Chas. S. Middleton & Son in Lubbock are the listing brokers.

November 2015

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SOUTHEAST TEXAS Houston Areas

KATY R. S. Hart Commercial Brokerage’s RACHEL S. GRANT arranged a $8.9M refinance loan for 26440 FM 1093 Ltd. - Westheimer Lakes Plaza II located in Katy, TX. The Multi-Tenant Retail Property totaling 52,567 SF is 100% occupied & was developed by Raintree Commercial’s COREY FERGUSON. Financing was provided by BBVA Compass Bank’s Senior Vice President BROCK TAUTENHAHN.

CYPRESS CHURCH CONSTRUCTION

Houston’s First Baptist Church bought 32.4 acres to build a 100,000 sq. ft. church in Bridgeland in NW Houston, developed by The Howard Hughes Company. The church will be located off the Grand Parkway and construction is expected to begin in January.

Alex Sutton, Peter Houghton and Rip Reynolds of The Woodland Development Company, a wholly owned subsidiary of Howard Hughes Corp, represented Bridgeland in the land transaction.

EDUCATIONAL VILLAGE CONSTRUCTION

The Cypress-Fairbanks ISD is planning an “education village” that will have three schools to house more than 5,900 students and teachers. The project will be built on 128 acres in Bridgeland between Mason Road & the Grand Parkway.

HOUSTON Michael Cropper, AIA joins Cresa as principal & head of project management.

Neil Elliott has joined Cresa as an advisor in the field of transaction & account management services.

LEVCOR, INC. RETAIL SHOPPING CENTERS THROUGHOUT TEXAS

HOTEL DEVELOPMENT

Mac Haik Realty has acquired a 5.23 acre site at I10 on Sherwood Forest Road where MH Hospitality is building a 142room Home2Suites by Hilton.

The hotel will sit on 2.33 acres of the site.

INDUSTRIAL SALE

Pinto Business Park, a JV between Houston-based Hines, New York-based Kohlberg Kravis Roberts & Company and Houston-based Pinto Realty Partners has sold three building in Pinto Business Park to TIAACREF, a teacher’s pension fund.

The buildings total 840,000 sq. ft. and are located at Beltway 8 & I45 North.

MULTI-FAMILY CONSTRUCTION Sherman Waco

El Paso

Houston Del Rio Eagle Pass Laredo Pharr

LEASING INFORMATION Dan Smith 713.268-3716 dsmith@levcor.com 1001 West Loop South, Suite 600 Houston, TX 77027 www.Levcor.com

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November 2015

Revere Park at Rivers Oaks LLC, which is registered to Essa Kawaja, a dentist, owner & managing partner of Houstonbased Summit Dental Center, has submitted plan with the city of Houston for a mid-rise condominium project at 2406 Mimosa Drive at Revere Street.

MULTI-FAMILY CONSTRUCTION

Allied Orion Group is

constructing a 242-unit midrise apartment project at 1825 San Jacinto in downtown Houston.

The project is scheduled for completion 3rdQ 2017.

OFFICE LEASE

W.D. Von Gonten & Company, a locally-based petroleum engineering company, leased 73,000 sq. ft. at Block 10 West Office Park located at 10396 Old Katy Road. Kevin Hodges of Savills Studley represented the tenant and Patrick Hicks provided in-house representation for the owner, Hicks Management.

OFFICE SALE

HghStreet Net Lease Group, a Texas-based company, represented the buyer in the purchase of 1305 Prairie, a threestory office complex with retail on the ground floor. Matt Moake with HighStreet Net Lease Group represented the buyer and Fred Ghabriel with Bejjani & Associates represented the seller, a local partnership.

RETAIL LEASE

Halloween City leased 40,000 sq. ft. in West Oaks Village, Westheimer Road, from BJ Investment Ltd. John Nguyen of NewQuest Property represented the tenant and Dani Allison of Transwestern represented the landlord.

KATY MIXED-USE CONSTRUCTION

Katy Development Authority has entered into an agreement with Sueba USA Corp to develop a 22-acre portion of Katy Boardwalk District. Sueba’s mixed-use development will include loft living space, retail & restaurant facilities and a public plaza.

LEAGUE CITY RETAIL CONSTRUCTION

NewQuest Properties is billing Marketplace at Ninety-Six, a Kroger-anchored development on 36 acres at TX96/League City Parkway & Hobbs Road.

The 123,000 sq. ft. Kroger Marketpalce & 25,900 sq. ft. of small shop space are slated to open October 2016.

MISSOURI CITY RETAIL LEASE

A P McGill Enterprises, an entertainment company, leased 20,900 sq. ft. of retail space in Missouri City Central Shopping Center at 2428 Texas Parkway. Mehdi Sharifian of Lila Construction represented the landlord, OMID Center Inc.

PASADENA RETAIL SALE

An undisclosed South American buyer purchased the 172,002 sq. ft. power center located at Beltway 8 & Fairmont Parkway.

Micha van Marcke, Paul Barile, Janice Sell and Chace Henke represented the seller, A-S 82 Fairmont Parkway – Beltway 8 LP.

SEABROOK LAND AVAILABLE

Cushman Wakefield & Girard Interests: 110-Acres Prime Site at SH 146 & Red Bluff Road.

• Largest tract available in the City of Seabrook in high growth area • $235-million TxDOT SH 146 twelve-lane expansion improvements • Site has its own offsite detention • Zoned for Industrial, retail and residential development

THE WOODLANDS OFFICE CONSTRUCTION

Tipler Design & Build LLC is under construction on a custom 7,000 sq. ft. design center and two 6,000 sq. ft. office buildings at the corner of Woodlands Parkway & FM 2978.

OFFICE SALE

Jeff Beard of The J Beard Real Estate Company represented the sale of the newly constructed 128 Vision Park at 128 Vision Park Blvd. The three-story, 75,000 sq. ft. building was purchased by VP1 Partners LP for 128 Vision Park Plaza LLC.

classifieds & index

ADVERTISER INDEX Amarillo EDC 11 Avison Young 29 CBRE 3 City of Converse 20, 21 Colliers International 24 Cullen Realty Group 29 Cushman & Wakefield 1- SE Texas, 5 Farrar Properties 24 Freedom Crossing 44 Gil Ramirez Properties, LLC 29 Girard Interests 1–SE Texas, 5 Greenberg & Company 24 Hankamer Commercial Brokers, LLC 41 Haltom City 28 J Beard Real Estate Company 19 Levcor 36

Mall of the Mainland 18 McAlister & Co 25 MIMCO 26 Moreland Properties 27 Oldham Goodwin Group 16 Phase Engineering 30 Raintree 22, 23 RE:VIVE Development 17 Showalter Law 41 Tarantino Properties, Inc. 8, 9, 41 Terrell Hills 2 US 175 Corridor 1–N Texas, 7 Waller County EDC 24 Wells Asset Management Inc. 15 Westchase District 13 Wolverine Property Management 15

Tarantino Properties Inc., a Texas based Real Estate management company, is actively seeking a driven, accomplished, energetic Commercial Leasing Agent for office, retail and industrial properties.

Candidate is responsible for identifying and contacting prospective tenants, conducting lease negotiations and closing deals to assure the timely leasing of space. All the properties in this portfolio are located in Houston and the surrounding areas.

Other responsibilities include marketing, lease administration, lease analysis and preparing leasing activity reports on a monthly basis. Must have an active Texas Real Estate License.

Chantal Dionne Corporate Recruiter ccontreras@tarantino.com 713-974-4292

Next Month’s Issue Detailed insight into the challenges Falcon Group, a Houston development group, faces with Tax Increment Reinvestment Zone 11 (TIRZ 11) Definition of a TIRZ: A tax increment reinvestment zone (TIRZ) is a political subdivision of a municipality or county in the state of Texas created to implement tax increment financing. They may be initiated by the city or county or by petition of owners whose total holdings in the zone consist of a majority of the appraised property value. Source: Wikipedia Located on East Beach in Galveston, Texas TIRZ 11 was created in 2002 by the City of Galveston. Now, with seventeen years remaining in its term, the Galveston city council has voted to close it.

Tarantino Properties, Inc. 7887 San Felipe, Suite 237 Houston, TX 77063

Protecting Property Owner’s Rights

Eminent Domain Compensation for Roads • Pipelines • Power Lines

www.ShowalterLaw.com

281-341-5577 • Info@ShowalterLaw.com

Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX

CHUCK TURET

attorney, frank, elmore, lievens, chesney & turet, L.L.P. “Richard Anderson and Falcon Group have been extremely flexible and creative in their proposals with regard to TIRZ 11 to try and balance the needs of the City of Galveston for tax revenue and the use of the tax increment funds to install needed utility infrastructure that would accelerate development on the east end of Galveston island.”

• Freeway Sites - I-20 - Monahans, TX

SUE DARCY

president, marsh darcy partners “TIRZ 11 is a textbook example of a great public/ private partnership. The subject property was vacant, unproductive, had title problems, and was devoid of municipal utilities. The TIRZ was the most effective way to solve the problems.

With the City of Galveston, Galveston County, the Galveston County Navigation District all participating in the TIRZ, the Developer had a performance-driven financing structure that provided sufficient reimbursement capacity to make the deal work. Palisades Palms truly has been a singularly successful project.”

• 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide • Hotel/Retail/Restaurant/Office Sites - League City, TX • Knights Inn/100 Rooms - Victoria, TX

Contact: Ray Hankamer

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

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

Brokers: Ray Hankamer, Jr. rhankamer@gmail.com Pablo Szub szub@mail.com Sergio Ortiz sortiz@hankamer.com

Sergio Pineda 40 Years Experience As sergpineda@aol.com Developer | Owner | Operator

(713) 922-8075 • www.hankamer.com WE WANT YOUR OPINION Give us your best for/against argument for creating and maintaining tax Increment reinvestment zones. Email ginger@rednews.com or call Ginger Wheless at 713-661-6300.

13) 789-7060 www.hankamer.com November 2015

41

H & B

Interview with Jim Smith

Credit: Michael Strivato

ray’s buzz

BY RAY HANKAMER rhankamer@gmail.com

J

im, welcome to REDNews. We have known each other I guess now for over fifty years. During this time you have become one of the most respected retail developers based in Houston. We would like to introduce you to our 100,000+ readers statewide and learn a little bit about you and your formula for developing successful retail centers-without giving up proprietary secrets of course!

To begin with, can you tell us how many centers you currently operate, and about how many square feet in all?

R

Thirty plus properties; about two million square feet.

Are you building to hold or do you build, lease up, and flip centers to investors?

R

I always hold my properties, and I have no partners. It is rare for me to sell a property.

How would you characterize your typical center-grocery anchored? High end boutique tenants? Neighborhood strips?

R

All types; All of the above, from Class A to Bs and Cs. What is the geographic distribution of your centers?

R

They are located in every direc42

tion in the Houston Metro/Harris County area.

Can you describe the trends in securing financing to develop retail centers -debt and equity- that you have witnessed since starting out, and trending to current packaging of financing?

R

In fifty years of developing, interest rates have never approached the low levels they are now. We always have low LTV, so debt is inexpensive (3-3.5% fixed).

R

How do you decide where to build, and when?

I’m always looking for projects in high growth or strong demographic areas on important intersections, near anchors.

What are the main concerns these days of retail tenants considering a lease with you?

R

That they have a strong balance sheet, experience in operating (no start-ups), and multiple locations.

Jim Smith, Houston Business Journal, March 2001

Probably my center at 1-10 and Bunker Hill Road (Lowe’s,Costco, Best Buy etc.);or Champions Forest Plaza in the 1960 area with Container Store,Talbot’s, Gap,Victoria’s Secret, Chico’s,Ann Taylor, etc.

How did you fare in the Oil Depression of the ‘80s and do you see any parallels in today’s situation?

R

Our locations are good enough; with so many national tenants, we were really not too affected. However, new development stopped as no one was expanding. There are certainly parallels in today’s situation. The Energy Business seems to have 8 to 10 year cycles, so we have seen this before. However, today Houston is more diversified (healthcare,port, etc.) so it will not be the same as in the ‘80s. The grocery “wars” are healthy,providing some opportunities for expanding our base. Conservative, fixed rate debt is also a key.

Do you ever buy old centers and do makeovers on them?

High traffic corners, near or next to anchors; conservative debt and proforma. At first, maybe get outside partners for equity with a pref return, and then a back-in for half the deal for the young developer.

And Jim, to conclude-and this is a personal question: why don’t retail center developers and grocers provide shady parking via an “urban forest” on their parking lots, or even covered parking, instead of requiring shoppers to walk across broiling concrete or asphalt to shop, and then return to an oven of an automobile? Office, medical, multi-family, airport, and other parking providers often DO provide shade as a welcome amenity to their tenants and customers.

R

Tenants and all anchors demand visibility in order to be the ultimate competitor, especially for impulse shoppers. Developers like trees, but tenants want them trimmed or not there at all.

R

Occasionally, but tenants get more excited about new developments; and higher rents are okay.

R

Do you have some pearls of wisdom or advice to give young developers who are starting out as to how to be successful in retail?

R

What deal are you most proud of?

November 2015 Smith playing golf

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Think you know

GI JOE? YOU MAY BE SURPRISED. Today's Army includes 48% females. Over 58% of the Army family is married and military families have an average of 2 children. Army Strong is economy strong. The average active-duty Soldier's compensation package is valued at $99,000 per year.

Freedom Crossing at Fort Bliss

Freedom Crossing at Fort Bliss is the first opportunity for retailers to operate in a shopping center on a U.S. military installation. Featuring a 10-screen theater and existing, successful department store and supermarket anchors, the post Exchange and Commissary, sales at the open-air center are more than $250 million annually.

This new, non-traditional market is quickly becoming a bright-spot in the shopping center industry, prompting the expansion of the concept, starting with Freedom Crossing at Fort Bragg. Fort Bragg will feature approx. 80,000 SF of shopping and entertainment options including the market’s first full service dine-in movie theater. Exchange-only sales at Fort Bragg have already reached approx. $230 million annually.

visit freedomcrossingatfortbliss.com Dan Frey • 512.682.5507 Freedom Crossing at Fort Bragg

Visit us at Texas ICSC - Booth #519