Page 1

MAY 2018

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Inside:

Reconfiguring Retail:

Changing Trends

Signs of Success Connecting the Dotz: Mark Dotzour offers the big picture


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© 2018 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 © 2018 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


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© 2018 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


12

IN THIS ISSUE

8

54 14

Scoop Market

Sales & Leases 1-3, 5, 13, 17 - 38

Services

Environmental Services 42, 55 Real Estate Loans 17, 56 Signage Services 1 - NT

Events 44, 46, 48 Social 423, 45, 47, 49 Bulletin 50 - 52

Features

Refiguring Retail: Changing Trends 8 - 11 Signs of Success 11 McAllen: Not just another border town 12 Connecting the Dotz: Mark Dotzour offers the big picture 14, 16 CIVIL FAIR PLAY Floodplain Ordinance Revisions 40 RAY'S BUZZ BoyarMiller Energy Update 41 Interview with Howard Rambin 54

4

May 2018


www.mcallenmeansbusiness.com


Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

PUBLISHER

Ginger Wheless  ginger@REDNews.com

EDITOR

Margie Gohmert info@REDNews.com

STAFF WRITERS

Dear Readers,

This is our 12th annual ICSC RECon issue which is being distributed at the conference this month in Las Vegas on May 20th – 23rd. This year’s scheduled presentations range from a discussion about lessons learned from the 2017 Hurricane Season to what to expect over the next 25 years in retail.

RECon’s hands-on innovation exchange will be enlightening since it includes numerous demonstrations including virtual mirrors that let in-store shoppers “try on” online offerings to watching self-checkout stations using cameras and robotic shopping assistants. We spoke with retail experts about the trends that are changing the face of the retail market and the overall consensus is the importance of creating an experience for the consumer. This includes the overall location and layout of the retail development itself as well as product presentation. Proving this point is the increase of online retailers who are opening storefront locations. Also interesting is the recurrence of mom-and-pop retailers. (page 8) We are very grateful to Dr. Mark Dotzour for taking the time to speak with us. Mark is a very insightful economist who has the unique ability to drill down dry economic information into information that is pertinent and entertaining to the CRE industry (page 14).

Our June issue will feature the Industrial/Office & Land markets in Texas so please send us your thoughts and ideas about interesting topics that we should cover.

I hope you have a very successful ICSC RECon experience and a fun-filled Memorial Holiday! Best Regards,

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

CONTRIBUTING WRITERS

Omar Izfar info@REDNews.com James Jones info@REDNews.com Amy Sorter info@REDNews.com

MANAGING DIRECTOR

Benton Mahaffey accounting@REDNews.com

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

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Reconfiguring retail The trends that are changing the face of the market BY BRANDI SMITH

When it was built around 1860, the large brick building at the corner of Vickery and South Freeway in Fort Worth served as a stagecoach hotel. O.B. Macaroni took it over in the early years of the 20th century and operated out of it until just a few years ago. The three-story building is one of the oldest still standing in Texas’ 16th-largest city.

Its newest owners, M2G Ventures, want to hold on to its history and build on that, according to Jessica Miller, the firm’s co-president. “We converted it into makerspace. We really want to celebrate makers and manufacturers there,” she says. “We've built a roster of local and passionate tenants that includes Craftwork Coffee Co., Melt Ice Cream, W Durable Goods and Tex Malt.” Though M2G has a different concept for each of its projects, which also include The Crossing, The Foundry District and 710 S. Main, Miller says the company’s approach is similar. “We like to take an asset and deconstruct what it currently is, what its current use is, and convert it into what its new use could be,” she explains. “We identify the soul or vibe of the neighborhood or community where it lives, then develop that story further.” That storytelling, she says, is essential to M2G’s strategies, which focus on value-added retail and creative repositioning. “The Foundry District in Fort Worth was Jessica Miller a collection of old M2G Ventures warehouses. We looked at that and said, ‘OK, we're not going to tear it down. We're going to celebrate what they are and we're going to put people in there who can really highlight the industrial feel,” says Miller. “We don’t

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May 2018

turn our back on the past. We celebrate what a property was and tell the story about it for the future.”

“We identify the soul or vibe of the neighborhood or community where it lives, then develop that story further.” - Jessica Miller, M2G Ventures As a result, projects such as The Foundry District and O.B. Mac provide an emotional connection for consumers, which is essential in an age when many shoppers are turning to the internet. “Consumers, which could apply to investors, retailers or customers, really gravitate toward branding that has a story behind it. If there's something that's bigger than the product or service they offer, people are naturally more likely to want to continue interacting with that and want to engage with that,” Miller says. M2G also encourages consumers to interact and


Eric Walker Capital Retail Properties

Market at Houston Heights Houston engage with public art, which is a key component in many of its projects. “When developing art projects you want them to stand out as much as each of the individual retailers and to become another experiential and lasting touch point for the consumer -- a way to identify with the district,” says Miller. “The customers may be visiting to interact with the art, but at the same time, they're becoming more familiar with that district. They're becoming more familiar with the tenants that are there, they are supporting the local businesses and in turn they are creating a cycle for the district that makes it top of mind for the consumer.” A brand’s “experience” needs to be multifaceted in today’s competitive retail environment. “You have to create an experience for someone outside of what you're selling. Otherwise, they can just get the product on Amazon,” says Miller.

Eric Walker, the managing partner at Capital Retail Properties, echoes that. “You'll notice the big names that are left in the retail world that sell things that compete with the internet are focused on experience,” he says. Walker argues that, in a way, the explosive growth in online retail has had a positive effect on its more traditional counterpart.

“The term everybody’s using now is internetproof. Anything that is a service, such as something restaurantor medical-based, it’s internet-proof and they're pretty common in retail centers.” - Eric Walker, Capital Retail Properties

“If anything, the online retailers have made the brick-and-mortar retailers better. The brickand-mortar retailers are investing in stores to make the shopping experience better, investing in their websites to improve online shopping and investing in new avenues for delivery,” says Walker. While a brand’s history or story can be instrumental in luring shoppers in the age of the “Amazon effect,” so too can its offerings. He says that over the past four months, more service users have come out of the woodwork.

O. B. Macaroni Fort Worth

“The term everybody's using now is internetproof,” says Walker. “Anything that is a service use, restaurant, medical or grocer is somewhat internet-

proof and they're the most active tenants in retail centers.” Another trend both Walker and Miller are seeing is a return of mom-and-pop shops, which Walker points out have been almost non-existent since 2007. He says now they account for eight out of ten deals he’s seeing in shopping centers. The reason for the influx appears to be threefold. For one, Walker says a lot of the big companies have backed off on new openings. That’s created new opportunities for the smaller fish. Lending has evolved as well.

“What really stopped the momand-pops back in 2007 was partly that a lot of them lost money from the mortgage crisis. The bigger issue was that SBA lending just stopped completely,” Walker says. “I think it's a lot easier for these guys to get loans now to go out and grow.” He goes so far as to describe 2003 to 2006 as a kind of Houston retail heyday when new concepts and mom-and-pops were everywhere. Those were the retailers that drove the businesses and were the healthiest part of it, according to Walker. He says it’s uplifting to see the mom and pops enter back into the market. “I'm pretty excited about that,” he says. Continued on Page 10 > May 2018

9


Reconfiguring retail The trends that are changing the face of the market < Continued from Page 9

“It’s exciting to see the synergies of all the stores as the restaurants are thriving and the soft goods retailers are setting records.” - Danny Signorelli, The Signorelli Company

The third factor in the rise of the small business has been a change in consumer approach. “Consumers want to support someone they perceive to be local,” Miller says. “I think that's a mind shift that's happened and you see it across the country.” That provides a new challenge for property managers, who have grown accustomed to stocking centers with national chains, admits Walker. “Over the past six years, to fill a development, all I’d have to do is pick up the phone and call two or three brokers,” he says. “Now we rely more on sign calls.” The day that Walker talked to REDNews for this article, he says he received five sign calls, which he calls “quality leads.” “Right now, we're seeing just as many sign calls turn into deals as we are relationship/broker calls turning into deals. The relationships are still there. A lot of these guys are getting picked up by brokers that we work with,” he says. “It's an opportunity, I think, for some of the younger guys in the industry.” The part of the business that’s seeing the biggest impact as a result is pre-build leasing, according to Walker. For the past decade or so, he says that by the time he started to build a new project, it’d be 90 percent to 100 percent leased. Now the reliance on sign calls means that percentage is closer to 50.

Danny Signorelli The Signorelli Company

“Once I go vertical, all of a sudden, we're getting calls and we have a center leased,” he says. “So it's a little scarier, but good.” That’s a far cry from where Walker admits he would have predicted the retail market would be if you’d asked him a year ago.

10

May 2018

“I was pretty nervous. You didn't know what was going to happen,” he says. “Today I would tell you, I'm not really nervous, because I think the important retailers have it figured out. But new large developments are not happening in the next 12 months. They're 24 months and on.” Walker says the only large project underway right now in Houston is the Valley Ranch Town Center, which is being developed by Danny Signorelli. Capital Retail helped broker some of that for him until he got his own team last year. “He's got a big vision. He's done an amazing job up there,” Walker says. Valley Ranch isn’t one of the largest mixed-use developments under construction in the Houston area; it’s one of the largest in the state. The project in New Caney features more than 1.5 million square feet of retail, shopping, dining, entertainment and multi-family housing. “It’s exciting to see the synergies of all the stores as the restaurants are thriving and the soft goods retailers are setting records,” says Signorelli, president and CEO of The Signorelli Company. ”Our Cinemark movie theater opened with a bang and we can witness the benefits of connectivity and synergy of a true experiential development.” Many of the trends mentioned by Walker and Miller are front and center at Valley Ranch, such as experiential shopping at Academy, service-based offerings at Family Express Clinic and mom-and-pop retailers like Yummy Tummy. “We created the concept more than a decade ago based on traditional residential master-planned


Signs for Success BY BRANDI SMITH For most consumers, signs are their first exposure to a brand, be it a restaurant, a store or a service. But often when commercial real estate professionals discuss retail and its trends, that first point-ofcontact initially gets forgotten or looked over. That’s not the case at Plano-based American Signs. “What happens over time in any type of advertising is the more that someone sees a brand, the more they start to embrace the message that comes with it. Ideally, there's some trust built into that,” says Bill Young, the company’s general manager. “So when they see that brand while they’re driving by, they recognize it and connect with it.”

Valley Ranch Town Center New Caney

Because brands, logos and consumer messages evolve, so too should a company’s signage, according to Young. He estimates the lifespan of a sign to be several years before either the message has changed or the elements have taken their toll. Young says American Signs focuses on regional and national accounts because of its emphasis on developing long-term business relationships. Typically, that means companies opening five to 100 new locations each year, which keeps Young and his staff busy. “For the most part, our job is to listen to what their brand is and what they want from a sign. Clients will sometimes supply us with drawings and/or artwork. Then we get a survey, research the landlord criteria and city code and maximize the signage that they want on that building,” Young says. Because every city and landlord has different regulations and rules, it’s important for American Signs to be staffed with detail-oriented people from the designers and project managers to the sales staff. They also have to be able to adapt along with the latest technology. Young says the biggest shift in the past decade has been from neon to LED lighting. The more energy-efficient LEDs, he says, grew in popularity once their price started dropping. However, he says some companies still prefer the look and feel of neon.

development strategies we have used for the past 20 years. ‘Experiential’ is nothing new, but today it has a name and is in the spotlight, and we are excited to have Valley Ranch in the conversation,” Signorelli says, pointing out the development’s assets that include Little League fields, the school District’s sports complex, parks, trails and maximized connectivity. “Not long ago, the pinnacle of retail development was the ‘grocery-anchored power center’ and other experiential concepts were considered far-fetched and certainly high risk development. Today we are enjoying the exciting results from taking that risk.” The project was recently named a finalist for the Houston Business Journal's Landmark Award. Signorelli says it stands out from other developments, thanks to the hard work of a great team, what he calls a “solid foundation.” “VRTC passes all the typical retail tests, such as location and high-visibility, super strong market and demographics,” he says. “Beyond that I would have to credit our concept and ability to be patient in developing a significant scaled project. There are steps to developing a project with this many moving parts. Not skipping a step has been critical to our success. Being patient has been tough at times, but the results are worth it.” If the success of Valley River Town Center is any indication, the retail sector of commercial real estate is thriving as it grows and evolves. “Generally, we're pretty optimistic about the market,” Walker says. “It's healthy. It's active.”

“It's still in demand, just not quite as much as it was several years ago,” says Young. American Signs also stays busy providing electronic message centers (EMCs), which you see a lot of at schools, churches and at some retail centers. “You’ll see them in a lot of other applications, especially on highway, pylon and pole signs,” Young says. “From a price standpoint, our clients are able to use EMCs as a better visual tool to market products. The software programs out there that are evolving as well.” That evolution allows companies to switch out messaging and track traffic. “Let’s say you have four different ads running on your EMC. That software will allow you to monitor traffic flow to evaluate how many people saw each message,” says Young. While the technology and approach to signage may have changed over the years, what hasn’t is the impact it has in drawing consumers in with this ever-evolving industry. After all, that’s what keeps Young and his crew at American Signs busy building signs for success.


McAllen:

Not just another border town

BY AMY SORTER

McAllen is not just any border town. Now the fifth-largest population center in Texas, the McAllen-Edinburg-Mission Metropolitan Statistical Area (MSA) has been quietly coming into its own with many service sector jobs in healthcare, leisure/hospitality and retail. Though not experiencing the massive growth of other Texas MSAs such as Dallas-Fort Worth or Austin, this region has been making plenty of waves on the Rio Grande border.

Country consists of 1 million people, the entire trade area, including Reynosa, is closer to 2.5 million. “A lot of families living in Reynosa cross the border to do their grocery shopping at the H-E-B,” he said. Furthermore, according to sales reports he sees from retailers, “most of the top-performing units in their systems are in the McAllen area,” Collins said. Most of Terracore’s community center developments are in McAllen, with demand only one reason why retail is succeeding in the region. “McAllen is unique in that it is extremely developer-friendly,” Collins observed, adding that the city’s permitting, platting and entitlement processes are convenient. Furthermore, the city and regional focus on retail “arms us with good talking points when we reach out to tenants “.

McAllen is home to La Plaza Mall, Simon Property’s 1.2-million-squarefoot regional shopping center that caters to shoppers on both sides of the border. “This is one of the few malls that is actually expanding,” said Rebecca Olaguibel, retail and business development director for Rebecca Olaguibel, the city of McAllen. Simon Property Retail & Business Group recently completed construcDevelopment Director tion of a $71-million, 285,813-squareMany times, the city will reach out foot addition to the mall. Added to tenants. Collins tells the story of Olaguibel: “This is only one in that group expanding attempting to recruit a Dallas tenant to McAllen and its retail footprint.” the city mayor, along with the city manager, assistant city manager and Olaguibel flew to Dallas to meet the McAllen’s retail sector has generated billions of tenant. “That’s pretty unique,” he said. dollars in revenue for the state of Texas, with demand coming from both sides of the border. Will Collins, Nick Rhodes, president and CEO of Esperanza Homes, principal with San Antonio retail developer, Terracore supported Collins’ assertion about McAllen’s develReal Estate Services, noted that even though Hildago opment-friendly atmosphere. Rhodes also heads 12

May 2018

Rhodes Enterprises Inc., which is developing Tres Lago, a 2,750-acre master-planned community in McAllen. “This is a mid-size market, but a nice size,” he said, noting that barriers to entry and competition are, as of now, quite low. Although border violence is repeatedly in the news and perception has been a challenge for the region, it is a misperception according to the McAllen Police Department. Texas southern border counties reportedly have the lowest crime rates in the state. In fact, crime has decreased in the city of McAllen since 2011, even as the population has increased, according to the police department. “A lot of people don’t understand the border,” Rhodes observed. “It’s not a war zone with a bunch of undocumented immigrants.” McAllen continuously strives to improve quality of life for its residents. A Dave & Buster’s restaurant opened during 2017 in McAllen and the McAllen Performing Arts Center opened in 2016. “The Broadway series has done very well here,” Olaguibel said. “We’re also paying attention to trends out there in retail; there is a ton of potential in live entertainment, which is why we wanted to get behind our own performing arts center.” Those involved with the McAllen MSA wouldn’t want to be anywhere else. “It’s a fun place to do business,” Rhodes said. “We enjoy it down here and will stay for a long time.”


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Connecting the Dotz Real Estate economist Mark Dotzour offers the big picture BY BRANDI SMITH

When he retired from the Real Estate Center at Texas A&M University in August 2015, former chief economist and director of research, Dr. Mark Dotzour, had no intention of leaving that career behind completely. He’d spent nearly two decades researching, writing and speaking about real estate.

“I just got tired and said, ‘You know what? I think I'm going to step down and just do the research and the speaking only,’” says Dotzour. “Since I did, I've been out on the road making about 70 presentations a year.”

May 2018

Instead of focusing solely on a market’s real estate landscape, Dotzour examines the global economy, explaining how it will trickle down to the national, state and city levels. He also keeps a close eye on interest rates, predicting what the central bank is going to do, whether we're going to have higher inflation.

Dotzour joined the Center in 1997. At the time, it was staffed with experts in land and agricultural land, but not commercial real estate. Seeing an opening, he says he decided to become an expert in the field. And so he did. An investor himself, Dotzour says he has always had an interest in real estate. He says finding his role as a real estate economist just boiled down to the answers CRE professionals always want answered: "Are my buildings going to continue to fill up with tenants?" and "Are my buildings going to continue to go up in value?"

Mark Dotzour, Former Chief Economist and Director of Research at Texas A & M University

“Once I figured that out, I've spent the past 15 years just gathering information about things at the global level or the national level or the state or city level that might impact whether those buildings fill up or whether those values will continue to go up,” says Dotzour. “It's funny. No matter what you do, if you do it for 18 years, you can suddenly become kind of an expert on it. If you've not, you should have quit years earlier.” When REDNews caught up with him, he’d just returned from a well-earned vacation from his “retirement,” a busy lineup of speaking engagements all over the country. When he visits places like Las Vegas, Charleston, Miami or even Houston, Dotzour knows he’s giving a presentation to the market’s real estate experts.

14

“I realized that I need to be the 50,000-foot guy who sets the picture in terms of what the overall market condition looks like,” he said.

“I follow the big, general pictures, but the difference between me and most every other economist I've ever met is that I analyze the same economic information that other economists do, but I translate that down to real estate decisions. That's all I do,” Dotzour says with a kind of modesty.

That analysis tells him that the overall picture for Texas looks “really solid.” “I've been doing this for 20 years now and I've never seen a situation that feels as good as this,” says Dotzour. The key, he adds, is job growth. Commercial real estate professionals want to know that their buildings are going to fill up with paying tenants, which is strongly connected to creating jobs. “The U.S. economy as a whole continues to spew out new jobs every month, anywhere from 50,000 to 300,000.” Dotzour says. “Here in Texas, we've outperformed the U.S. economy in terms of job growth virtually every year for the past 20 years.” Continued on Page 16 >


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Connecting the Dotz Real Estate economist Mark Dotzour offers the big picture < Continued from Page 14

While that has been consistent, trends in the different sectors of the market have morphed considerably in the same amount of time. Dotzour points to industrial spaces as an example. “How we buy products is changing and the fact that so many people are buying products over the internet means they have to be shipped by a truck,” he says. “People expect to get delivery within a day or so, which means that all these suppliers need a warehouse pretty close by so they can deliver something to you on the same day or at least the day after.” As a result, online retailers have launched a massive search in communities all over the country that wouldn’t traditionally see a lot of warehouse activity. It’s also impacting what has historically been retail space.

property. Large chains such as Toys R Us, Sears, Macy’s and Foot Locker have blamed online competition as the reason they’ve shuttered stores. But some of the smaller retailers, such the hobby shops that used to fill space in malls, are being forced to move or go online due to increasing rent. “They're not being run out of business by the internet. They're choosing to get out of their expensive retail space and just move into their home or to something a whole lot cheaper,” Dotzour points out.

Beyond retail and industrial, Dotzour says the internet is also impacting another sector: multi-family units.

That shift from brickand-mortar stores to online offerings from retailers has been one analysts predicted decades ago. Dotzour says he’s learned a lot watching the movement slowly build momentum, then explode.

“One of the biggest challenges is what to do with a shopping center that goes dark,” says Dotzour. “Some of those, being in good urban locations, might turn out to be the next fulfillment center for internet shoppers and the boxes that bring the toys and goodies that they're ordering online.”

“When you're trying to extrapolate trends into the future is that things typically take a lot longer than you might think,” he explains. “It's taken a lot of time for this to work its way through the system, but now, it's doing so in a big way.”

The reason those shopping centers are doing dark is a one-two punch of internet influence and high-value

Beyond retail and industrial, Dotzour says the internet is also impacting another sector: multi-family units.

16

May 2018

Apartment complexes, inundated with packages ordered by tenants, are now being tasked with how to handle and store the shipments safely and securely. “The internet really is transforming virtually every part of the business of real estate,” says Dotzour. Despite the minor hurdle of package management, he says the future looks bright for the multifamily sector. “Some parts of our state have seen a lot of heavy building of luxury apartments, especially in the inner parts of the downtown areas in the big cities,” Dotzour says. “That's put a little pressure on rents and values, but there's more to the multi-family market than just luxury properties.” He points to Class B and C apartments, which are experiencing a shortage and, he argues, no one is building brand new. That presents valuable investment possibilities, according to Dotzour. That’s the good news; if there’s even a sliver of bad news to be found, Dotzour says it’s the possibility that interest rates could go up too much. “One of the byproducts of having a strong economy is that it tends to lead to higher interest rates, both for short-term business lending and also for long-term


“I’ve been doing this for 20 years now and I've never seen a situation that feels as good as this,” – Mark Dotzour.

DEVELOPMENT ACREAGE HIGH GROWTH FORT BEND COUNTY & BRAZORIA COUNTY

6 1

3 4

5 2

1) 10 acres close to I45 & 4) 1.2 acres - Build to suit / FM 646 (1600 Bess Rd.,) ground lease pad site: US Dickinson/League City: 59 @ Reading RD., Brazos $500,000 Town Center 2) 3 acres on FM 762 5) 38 acres on FM 2759 between George Ranch near Grand Parkway and and Brazos Bend State FM 762 in Fort Bend Park. Fort Bend County: County. $1,700,000 $199,990 6) Premium custom home 3) Development opportunity lots in Lakes of Mission in Fort Bend, Pecan Grove Grove, Fort Bend County: area: 1.75 acres on FM 359/ 1 acre; low taxes Mason RD. $715,000

First Warranty Realty Seth Showalter 713-269-4908 seth@firstwarrantyrealty.com

investment decisions,” he points out. “So the biggest threat here in 2018 and into 2019 would be that our economy overheats to the point that we get inflation, which leads to higher interest rates.” The result would be higher borrowing costs for people who want to buy commercial real estate and higher cap rates for investors. Dotzour’s analysis is something fellow real estate experts make an effort to hear, attending state and national conventions to get his take on the big picture. But, unlike so many who make a living off presentations, he says it’s just as well if you find one of his speeches on YouTube.

REAL ESTATE

PRIVATE LOANS

“When I was at the Center, our whole job was to provide information to help people make good business decisions,” says Dotzour. After he retired, he says he kept that mindset and even offers up copies of his presentation to those who are attending. “I tell people, ‘If you want to take my name off of it and put your name on it, you can give it at the local Rotary club,’” Dotzour chuckles. “I've said that for 20 years. Nobody's taken me up on it, but they always laugh.” He argues that he doesn’t have anything to sell, simply a perspective to share. “I'm constantly looking at information, constantly trying to make heads or tails of what's going on in the marketplace and then figure out how to communicate that in a simple way that people can understand,” says Dotzour. “For the past 20 years, all I’ve done is generate information that will help people make good business decisions.” Here’s hoping he keeps providing his expert analysis for another 20!

Equity Secured Capital Texas Direct Private Lender Close in 7 Days • Only 1% Fee www.equitysecured.com 512-732-8338


INSIGHT. KNOWLEDGE. EXPERTISE INSIGHT. KNOWLEDGE. EXPERTISE

. Pad Sites Available from 1 acre and up . Pad Sites Available from 1 acre and up

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


The Best of Texas

SHOPPING

|

DINING

|

E N T E R TA I N M E N T |

S

H O S P I TA L I T Y

1240 Clear Lake City Blvd.

|

OFFIC

For leasing information, contact Brody Farris, Vice Pre SignorelliCompany.com | bfarris@signorellicompany.com

OR LE ASE

Houston, Texas

Only 40,000 SF of Big Box

Two-Story Office/Retail | 1.11 AC

NCH CROSSING Katy, TX

reek

& 20,000 SF of Small Strip

Kingwood, TX

Shops at Northpark

Space Available

K a t y F o r t B e n d R d | K a t y, Te x a s

-10)

1310 Northpark Drive

GLA:

10,000 SF

GLA:

11,725 SF

For Lease:

8,200 SF

For Lease:

8,200 SF

Delivery:

Ready

Delivery:

Ready

Ave HH Income (5mi):

$135,959

Ave HH Income (5mi):

$101,603

Total Population (5mi):

137,208

Total Population (5mi):

104,741

Daytime Population (5mi): 93,166

Daytime Population (5mi): 102,183

Katy, TX

Trails

Road)

Missouri City, TX

Plaza at Sienna Ranch 6144 Sienna Ranch Road

GLA:

17,000 SF

GLA:

For Lease:

17,000 SF

For Lease:

14,040 SF 2,737 SF

Fall 2018

Ave HH Income:

$98,602

Ave HH Income:

$118,473

Total Population:

204,206

Total Population:

168,653

Daytime Population:

151,838

Daytime Population:

117,066

Delivery:

Richmond, TX

W Bellfort

rkway South

PROPERTIES AVAILABLE

7022 State Highway 6

• Former small church with apartment 16,000 SF 1/314,800 Acre - Clarewood @ Atwell - Houston SF

7,125 SF

GLA:

For Lease:

2,294 SF

For Lease:

Delivery:

Ready

Delivery:

Ave HH Income (5mi):

$113,767

Ave HH Income:

Total Population (5mi):

141,339

Total Population:

GLA:

17,000 SF

For Lease:

3,156 SF

Delivery:

Ready

Ave HH Income:

$112,236

Total Population:

$155,130

Daytime Population:

$106,397

Sprint 2018 • Freeway Sites - I-20 - Monahans, TX $114,885

• 30$185,335 Acres Commercial/Rail Serviced - Tomball, TX

• Located directly between Walmart & Costco • 4,000 linear ft. frontage on I-10 • 45’ pylon signs along I-10

Daytime Population:

• Hotels - Statewide Sugar Land, TX

Shops at Easton 6506 Highway 90 A

GLA:

7,500 SF

For Lease:

1,965 SF

Delivery:

Ready

Ave HH Income:

$118,572

Total Population:

192,366

Daytime Population:

189,150

Retail for Lease (developed by Rubicon Realty Group)

• 129 acres of retail, apartments, medical and office • Call for pricing

HANKAMER & ASSOCIATES

Retail for Lease (third-party listings)

Land for Sale (owned by Rubicon Realty Group) Land for Sale (third-party listings)

BROKERS, L.L.C.

Hospitality Consulting Services 40 Years Experience As Hotel Developer, Owner/Operator and Commercial Broker Hospitality Consulting Services Ray Hankamer, Jr 40 Years Experience As Developer | Owner 713.922.8075 | Operator

rhankamer@gmail.com / www.hankamer.com

(713) 789-7060 www.hankamer.com Brokers: Ray Hankamer, Jr., Pablo Szub,

H &

• Easy freeway & neighborhood access

• 12142,612 Acres Residential/Commercial - I-45 - Huntsville, TX

Daytime Population (5mi): 85,443

Missouri City, TX

CURRENT AVAILABILITY

Missouri City, TX

Shops at Pebble Creek

AndersonRA.com

Description:

DEVELOPMENT ▪ MANAGEMENT ▪ BROKERAGE

Since 2002, Rubicon Realty Group has created over $200,000,000 in real estate value

Ready

GLA:

Creek

RICHARD G. ANDERSON | 713.597.4025

Offering Properties & Hotel Consulting

Delivery:

CALL FOR PRICING

Lilly Golden

Phone: 713.664.3634 Direct: 713.628.3634 lgolden@evergreentx.com

B

A A Realty Co

Accredited Management Organization


H O U S TO N â&#x20AC;&#x2122; S FI N E S T R E TA I L D E S TI N ATI O N

THE DESTINATION BOULE VARD


ONLY HOUSTON C AN BUILD

BY THE END OF 2018, UPTOWN WILL COMPLETE THE TRANSFORMATION OF POST OAK BOULEVARD. Post Oak Boulevard presents Houston with an exciting and compelling destination boulevard that rivals any major U.S. city or foreign capital. It equally serves its local residents, regional commuters and shoppers – It’s a red carpet for visitors both foreign and domestic. www.theboulevardproject.com


4,000-Acres: Harris County’s Largest Mixed-Use Development in Houston’s Fastest Growing Zip, 77044

A

LEASED

LEASED LEASED

AVAILABLE

OFFICES 86% OCCUPIED & RETAIL NOW OPEN Available Retail: ±2,725 SF end-cap with wrap-around patio Retail neighbors include Bibo’s Bistro & Bar, BB&T Bank, and soon to be announced full-service restaurant

B

RETAIL & RESIDENTIAL UNDER CONSTRUCTION | OPENING SUMMER 2019


Redemption Square A

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Site Map

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DIRECT ACCESS TO 600,000 SQUA RE FEET OF RETAIL AT NEIGHBORING WESTLAKE M A RK ET PL ACE A ND W EST L A K E V ILL AGE

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The population growth [in northeast Houston has reached a tipping point, where demand for larger and more luxurious offices, hotels, restaurants, shops and mixed-use developments is at its apex. -Houston Business Journal

ION

SQUARE ROAD

P

TION SQUARE ROAD

OFFICE

P

A SSA Y ST RE E T

HOTEL

M U T I - FA M I LY

FITNESS/WELLNESS

AUDITORIUM

PA R K I N G

TechnipFMC CORPORATE CAMPUS

P

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BELTWAY 8

REDEMP

BEST IF VIEWED ON MOBILE

R E T A I L S PAC E

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LA

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Houston’s fastest-growing ZIP: 77044...a classic case of, “if you build it, they will come.” Between 2010 and 2014, the number of housing units in this northeastern neighborhood rose from 10,158 to 11,515, an increase of 13.4 percent. This outpaced the city as a whole which added housing units at a rate of 2.3 percent. -Houston Chronicle

P

P

Avg. HH Income T$96,757 HE WOODLA NDS 99

Population 403,510

Vehicles Per Day 81,700 (BW8)

P

SPRING

KINGWOOD

45

59 IAH AIRPORT

N

HUMBLE LAKE HOUSTON FA L L C R E E K

8

At the heart of Generation Park is the 52-acre urban mixed-use district, Redemption Square, designed to provide amenities to every business that calls Generation Park home. Redemption Square will feature multiple hotels, including a Courtyard Marriott, luxury apartments, Class A offices, an early child development center, fitness center, restaurants, shops, and daily services.

ATASCOCITA

SUMMERWOOD REDEMPTION SQUARE

249 59 290

GENER ATION PA R K

45 90

8

610

8

10

DOW NTOW N

59

45

10 610


IDEAL HEIGHTS/NORTH LOOP RETAIL LOCATION Bank • Credit Union • Rental Car Business • Restaurant • Nightclub • Used Car Dealer High Traffic Area w/ Excellent Visibility, Pylon Signage & Parking for 100s of Cars!

323 North Loop W

333 North Loop W

• 6000 sf w/ over 10 offices & 3 ADA bathrooms • Built out with kitchen, server room, built-in countertops • Multiple remote gates & drive-through capability • Small warehouse attached • Alarm system & security cameras • Huge parking lot on 30,700 sf land • Great for bank, credit union, rental car business or leasing offices • Teller Windows in Place!

• 3250 sf open concept w/7 break out offices & management office on second floor • 2300 sf Covered Canopy; Totally fenced & secured. • Huge parking lot on 37,000 sf land • Great for showroom, restaurant, nightclub, used car dealer, rental car company FWY 323 N Loop

333 N Loop

FWY W

W

LEASE

Together or Separately

Melissa Gerber Brams

713-906-2623 Melissa@gerberrealty.com

David Gerber

713-774-9124 David@gerberrealty.com

Make your business better. Discover prime retail opportunities in two award-winning master planned communities.

The Woodlands, TX

Cypress, TX

Hughes Landing • Creekside Park Village Green Waterway Square® • Lake Woodlands Crossing • Research Crossing (Future)

Lakeland Village Center® • Parkland Village Center (Future) Bridgeland Central (Future)

TheWoodlands-Commercial.com RIP REYNOLDS, VP, Leasing and Commercial Land, 281.719.6125 | Rip.Reynolds@HowardHughes.com GRANT GOLD, Sr. Manager, Leasing, 281.719.6137 | Grant.Gold@HowardHughes.com


+/- 8.5 ACRES Potential Hotel Site

PRICED TO SELL PRIME I-45 FRONTAGE

POTENTIAL DISTRICT AILABLE | LA MARQUE RENAISSANCE INCENTIVES AVAILABLE HOTEL SITE

reet | La Marque, Texas 77568

SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568

AVAILABLE SPACE LOCATION MAP

RETAIL TRADE AREA MAP The City of La Marque is strategically positioned 15 miles southeast of Houston.

Total Building Area 4627 SF Total Indoor Seating 80 People Total Outdoor Seating 16 People

Site Details

La Marque serves as a southern anchor for the economically strong Houston/ SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568

Galveston Region, and its rapidly growing population of nearly 7 million residents. TRADE AREA LaRETAIL Marque is MAP the geographic center of

LOCATION MAP

Galveston County with more than 14 miles of frontage on the expanding Interstate 45 corridor and is the second-fastest-growing city in the County. Now is the time for

RETAIL MAPexpansion commercial EXISTING and residential in La Marque as we are on the brink of a major development boom. EXISTING RETAIL MAP

TRAFFIC TRAFFICCOUNTS COUNTS

Texas Avenue - 11,820AADP AADP Source: TXDOT 2016 Interstate 45 - 61,305 Source: TXDOT 2016

PROPERTY INFORMATION PROPERTY INFORMATION

Approximately acres. •• Well trafficked8.5 downtown space adjacent to •the Prime forOffice commercial development. Post and across the street from the Marque Development Corporation •La Located on Economic the highly trafficked corridor of Interstate 45 that connects Houston to Galveston. Office •• 31 Customer Parking andsouth additional Vauthier access road toSpots north and bound6I-45. parking spots •employee $1 billion investment for new road infrastructure in • Ideal Restaurant/Cafe/Deli Location La Marque and Galveston County over the next 10 years.

DEMOGRAPHICS (based on data) 2017 data) DEMOGRAPHICS (based on 2017 Variable

P.O. Box 7272 | Tupelo, MS 38802 | 800.851.0962 | www.theretailcoach.net

Alex Getty, Executive Director La Marque Economic Development Corporation Vice President Alex Getty, Executive Director agetty@lmedc.com La Marque Economic Development Corporation 409-938-9258 h.net agetty@lmedc.com

P.O. Box | Tupelo, MS | 800.851.0962 | www.theretailcoach.net The information contained herein was obtained from7272 sources believed to 38802 be reliable; however, The Retail Coach, makes no guarantees, warranties, or representations as to the completeness orcontained accuracy thereof. The presentation of this property is submitted to errors, change of price or conditions, prior sale or lease, or withdrawal without notice. The information herein was obtained from sources believed to be reliable; however, Thesubject Retail Coach, makes omissions, 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 sale or lease, or withdrawal without notice.

409.938.9258

RTA

1-Mile

3-Mile

5-Mile

2017 Population

97,186

8,365

38,344

73,130

2017 Workforce

40,969

3,237

15,184

29,939

Average HH Income

$67,184

Median Age

39.2

$52,717 $54,483 $59,939 37.6

37.4

37.7

Area; the the geographic area from **RTA RTA––Retail RetailTrade Trade Area; geographic areawhich from which retailers derive approximately 80-85% of their business. retailers derive approximately 80-85% of their business.


FOR LE ASE

K AT Y R A N C H C R O S S I N G S E C o f I -10 W e s t & K a t y F o r t B e n d R d | K a t y, Te x a s

Only 40,000 SF of Big Box & 20,000 SF of Small Strip Space Available Description: • Located directly between Walmart & Costco • 4,000 linear ft. frontage on I-10 • 45’ pylon signs along I-10 • Easy freeway & neighborhood access • 129 acres of retail, apartments, medical and office • Call for pricing

Lilly Golden

Phone: 713.664.3634 Direct: 713.628.3634 lgolden@evergreentx.com

124,000 124,000

2.5 2.5Miles Miles

Alamo AlamoInterstate Interstate 2/U.S. 2/U.S. 83 83

Part of the fastest growing MSA in Texas Over 400 acre TIRZ available near Interstate 2/Expressway 83 Within a 5 mile radius, there are over 149,000 people with a retail potential of over $900 million

Alamo Alamo Economic Economic Development Development Corporation Corporation


Your Grocery Store Belongs

OLD SEABRO DISTRI

CLEAR LAKE

W

POPULATION

78,172

2018 Estimated Primary Retail Trade Area Population

HOUSEHOLD INCOME

$

$121,362 $90,557 $47,730 Average Household Income

Median Household Income

Per Capita Income


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

s in Seabrook

D OOK ICT

and Residential

Old Seabrook District

SCHEDULE a meeting

TODAY

› Beautiful and Historic Main Street Area CLEAR lots LAKE › Mixed commercial and residential

GALVESTON BAY

Waterfront District

281.291.5730

› seabrooktx.gov/edc › Prime for dining and entertainment use

WATERFRONT DISTRICT

PRIMARY RETAIL TRADE AREA

DISTANCE

30 minutes to HOUSTON

HIGHER EDUCATION

12.9%

Graduate Degree or Professional

25.6% 10.2% Bachelor’s Degree

Associate’s Degree

23.8%

Some College No Degree

SE D


10211 Cypresswood Dr., Houston, TX 77070 T U O D L I U B R O F E L B N O W AVA I L A

NEW 12,000 SF RETAIL CENTER THE SHOPS AT CYPRESSWOOD is one of Beacon Developmentsâ&#x20AC;&#x2122; newest projects. It is located just off Hwy 249 at the intersection of Cypresswood and Mandolin. This 12,000 SF retail center is now available for buildout to tenants. For more information, contact Beacon Developments at 713-686-4663

www.beacondevelopments.com


5% B

ONU B R E K RO

S

5% BR

PASEO REAL

SUNRISE PALMS

2100 Ruben Torres Sr. Blvd.

3000 Pablo Kisel Blvd.

BROWNSVILLE, TX

BROWNSVILLE, TX

• 2,248 - 6,126 SF Available for Lease • Brownsville’s Premier Shopping Center • Located Across from H-E-B & Walmart

OKER B

ONUS

• 804 - 6,460 SF Available for Lease • Adjacent to Sunrise Mall • Prime Visibility from HWY 77

LAS PALMAS SHOPPING CENTER

MIDTOWN HOUSTON

SHADOW CREEK MARKETPLACE

SUGAR POINT SHOPPING CENTER

1723 Highway 100 PORT ISABEL, TX

2600 Travis St HOUSTON, TX

11041 Shadow Creek Pkwy PEARLAND, TX

9920 HWY 90 SUGAR LAND, TX

• 995 - 5,473 SF Available for Lease

• 2,386 - 6,930 SF Available for Lease

• Profitable Year-Round Tourist Trade

• Located in the Heart of Midtown

• 50’ Bay Depths

• Surrounded by High-End Condos

FOUR CORNERS SHOPPING CENTER

1800 N Velasco St ANGLETON, TX • 1,800 - 6,700 SF Available for Lease • 141,520 SF 4-Star Retail Center • Located Across from Walmart

CORPORATE OFFICE: 7887 San Felipe Houston, TX 77063 (713) 974-4292

EDGEBROOK CENTER

10500 - 10545 Gulf FWY HOUSTON, TX • Up to 25,000 SF Available for Lease • Gulf Freeway Exposure • Traffic count exceeds 222,000 CPD

AUSTIN:

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

• 250,000 SF Master-Planned, Class A Retail Center • Located NW Corner of TX HWY 288 & Shadow Creek Pkwy • Strong National Tenant Mix

• 1,478 - 2,212 SF Available for Lease • Located in Fort Bend County - Fastest Growing County in Texas • Traffic Count Exceeds 78,000 CPD

BINGLE VILLAGE

2305 - 2339 Bingle HOUSTON, TX • Up to 15,288 SF Available for Lease • Located in Spring Branch, between 290 & I-10 • Easy Access for Deliveries

DALLAS:

6060 N. Central Expy Suite 560 Dallas, Texas 76206 (972) 234-9901

Personalized Service. Proven Results. www.tarantino.com SAN ANTONIO:

12770 Cimarron Path St. 122 San Antonio, TX 78249 (210) 212-6222


Valley Ranch Town Center

INTERSTATE 69 & GRAND PARKWAY (99) Montgomery County, Texas

Available Retail and Anchor Space Lake Conroe

Conroe 336

s mile 15

Cleveland 105

69

Great retail is location, it’s an experience— it’s Valley Ranch Town Center.

45

New Caney

The Woodlands

Property Snapshot

Kingwood

(15 min drive time)

George Bush Intercontinental AIrport

TO TA L P O P ULATI O N

164,531

AV E R AG E H H I N CO M E

$83,017

DA I LY TR A F F I C CO UN T

120K

R E TA I L & M I X E D - US E

1.5+ M sf

w uc ay tio n)

Lake Houston

249 d ran

rk Pa t r d ns an Co Gr er d (U n

Valley Ranch Town Center is located in the seventh fastest growing county in the nation and encompasses over 1.5 million square feet of retail and mixeduse. Join the line-up of leading national tenants in this 240-acre mixed-use project strategically designed and located to enhance the experience of shopping and dining. Regional entertainment and civic destination, including multiple sports complexes, a planned 16,000 seat world-

class amphitheater and 100 acres of public lakes add to the projects competitive advantage. Great retail is not just a power center.

G

The Signorelli Company is proud to announce leasing of phase 3 of the 240acre Valley Ranch Town Center located at the rapidly-growing corridor at Interstate 69 and The Grand Parkway (99) in Montgomery County, Texas is underway.

Parkway

90 290

8

610

Katy

10

DOWNTOWN HOUSTON

Galveston Bay

59

Schedule to meet with us.

SHOPPING

|

DINING

|

E N T E R TA I N M E N T |

H O S P I TA L I T Y

|

OFFICE

|

MULTI-FAMILY

For leasing information, contact Brody Farris, Vice President of Retail SignorelliCompany.com | bfarris@signorellicompany.com | 713.452.1740


GReenberg & Company Commercial Real Estate Brokerage Firm

Retail | Office | Restaurant Available

11681 Westheimer Rd. | Houston TX 77077 RETAIL/RESTAURANT SPACE AVAILABLE • Excellent Location • Major Thoroughfare • Westheimer/ Kirkwood and Wilcrest This is a single story, freestanding retail/ restaurant located at the front entrance of the prestigious Royal Oaks sub-division and Country Club. Building Size: 11,320 SF | Lot Size: 1.54 Acres

Price: Call For Details

421 Fannin St. | Houston TX 77002

5630 Richmond Ave. | Houston TX 77057 HIGH TRAFFIC | 3,190 SF AVAILABLE • Great Visibility • Major Thoroughfare • Galleria Area

RETAIL OFFICE BUILDING • Historic Downtown • Major Thoroughfare • Great Visibility

This is a two-story Retail/ Office building. The building is encased with framed windows giving high visibility of Fannin and Historic Downtown. Building Size: 20,000 SF | Lot Size: 0.3 Acres

This is a single story retail building in the Galleria Area with easy access to the Southwest Freeway, 610 W. Loop Westpark Tollway & Beltway 8. Building Size: 16,270 SF | Lot Size: 1.44 Acres

Price: Call For Details

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

JUNE FOCUS

LAND INDUSTRIAL OFFICE RESERVE YOUR SPACE NOW 713.661-6300 www.info@rednews.com www.rednews.com

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

Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • 1/3 Acre - Clarewood @ Atwell - Houston • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 Huntsville, TX • Hotels - Statewide

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services 40 Years Experience As Hotel Developer, Owner/Operator and Commercial Broker Hospitality Consulting Services Ray Hankamer, Jr 40 Years Experience As Developer | Owner 713.922.8075 | Operator

rhankamer@gmail.com / www.hankamer.com

(713) 789-7060 www.hankamer.com

H &

B


X

Kingwood, TX Shops at Northpark 281.313.0000

F

1310 Northpark Drive

•BROKERAGE

•DEVELOPMENT11,725 SF

GLA:

Katy, TX

Shops at Woodcreek

For Lease:

8,200 SF

FM 1463 (South of I-10) •MANAGEMENT •LAND CONSULTING •BUILD-TO-SUIT SERVICES Ave HH Income (5mi): $101,603

Delivery: Ready DEVELOPMENT ▪ MANAGEMENT ▪ BROKERAGE

X

Since 2002, Rubicon Realty Group has created Total Population (5mi): over $200,000,000 in real estate value

104,741

www.RubiconRealty.com Daytime Population (5mi): 93,166 CURRENT AVAILABILITY

GLA:

10,000 SF

For Lease: The Crossing at Telfair

8,200 SF

Missouri City, TX

Plaza at Sienna Ranch

6144 Sienna Ranch Road

GLA:

Delivery:

S.H. 6 & Hwy 90, Sugar Land, TX

137,208 THE CROSSING AT TELFAIR

Total Population (5mi):

SUGAR LAND, TX

Plaza at Sienna Ranch Katy, AVAILABILITY TX CURRENT

Shops at Katy Trails 2,737 SF Clay Road (@ Peek Road) HOUSTON Delivery: Ready Shops at Woodcreek Shops at Woodcreek Total Population:

168,653

Daytime Population:

117,066

8

Missouri City, TX

Shops at Pebble Creek

7022 State Highway 6

GLA:

X

16,000 SF

Ready

Since 2002, Rubicon Realty Group has created Daytime Population (5mi): 102,183 6 &estate HWYvalue 90 over $200,000,000 S.H. in real

14,040 SF

FM (South of I-10) HH1463 Income: $118,473 FMAve 1463 (South of I-10)

1310 Northpark Drive

Ave HH Income (5mi): ▪ $135,959 DEVELOPMENT MANAGEMENT ▪ BROKERAGE

For Lease:

TX

Shops at Northpark

6144 Sienna Ranch Road

GLA:

Katy, Shops at Northpark Katy, TX TXShops at Northpark 17,000 SF

For Lease: 17,000 SF SF GLA: GLA: 10,000 10,000 SF Delivery: Fall 2018 For Lease: 8,200 SF For Lease: 8,200 SF Ave HH Income: $98,602 Delivery: Delivery: Ready Ready Total 204,206 HHPopulation: Income $135,959 Ave HHAve Income (5mi): (5mi): $135,959

Northpark 1310 1310 Northpark DriveDrive

GLA

For L

Deliv

Ave H

Daytime Population: 151,838 Total Population Total Population (5mi): (5mi): 137,208137,208

Total

Daytime Population Daytime Population (5mi): (5mi): 102,183102,183

Dayti

Shops at Pebble Creek Richmond, TX Grand Pkwy 14,800 & WSFBellfort 7022 State Highway 6TX 7810 Grand Parkway South Plaza atKingwood, Sienna Ranch Katy, TX Shops at at Woodcreek Katy, Shops Woodcreek Kingwood, Shops at at Northpark TX Shops Northpark Katy, Shops at Katy Trails Delivery: Sprint 2018TX at Sienna Ranch Retail for Lease (developed by Rubicon Realty Group) Katy, TX TX Plaza Shops at West Katy Trails For Lease:

FMFM 1463 (South of I-10) 1463 (South of I-10) For Lease: Clay Road (@ Peek Road) ClayAve Road (@ Peek Road) HH Income: $114,885 KATY, TX KATY, TX Retail for Lease (third-party listings)

For Lease: GLA: GLA:

SF SF 17,000 17,000 SF 2,294

GLA: GLA:

11,725 SF SF 11,725

GLA

ForDelivery: Lease: For Lease:

SF 17,000 17,000 SF Ready

For Lease: For Lease:

8,2008,200 SF SF

For L

Ave HH Income Fall (5mi): $113,767 Delivery: Fall 2018 Delivery: 2018

Delivery: Delivery:

Ready Ready

Deliv

Ave Ave HH Income (5mi): HH Income (5mi): $135,959 $135,959

Total (5mi): $98,602 141,339 HHPopulation Income: $98,602 Ave HHAve Income:

Ave Ave HH Income (5mi): HH Income (5mi): $101,603 $101,603

Ave

TotalTotal Population (5mi): Population (5mi): 137,208 137,208

Daytime Population (5mi): 85,443 Total Population: 204,206 Total Population: 204,206

TotalTotal Population (5mi): Population (5mi): 104,741 104,741

Tota

Daytime Population (5mi): 102,183 Daytime Population (5mi): 102,183 GLA: 7,500 SF

Daytime Population (5mi): 93,166 Daytime Population (5mi): 93,166 Daytime Population: 151,838 Daytime Population: 151,838 Retail for Lease (developed by Rubicon Realty Group)

GLA: GLA: Total Population: Land for Sale (owned by Rubicon Realty Group) For Lease: For Lease: Daytime Population: Land for Sale (third-party listings)Delivery: Delivery:

Shops at Easton

6506 Highway 90 A

Shops at Woodcreek

Sienna 1310 Northpark Drive 1310 Northpark Drive 7,125 SF 6144 6144 GLA: Sienna RanchRanch RoadRoad KINGWOOD, TX MISSOURI CITY, TX

10,000 SF SF 10,000 $185,335 8,2008,200 SF SF 142,612 Ready Ready

Sugar Land, TX Shops at Katy Trails

Shops at Northpark

Plaza at Sienna Ranch

Dayt DE D

Shops at Easton Clay Road (@ 1,965 Peek SF Road) 1310 for Northpark Drive Retail LeaseCity, (third-party listings) 6144 Sienna Ranch Road Missouri TX Shops at Oyster Creek S Missouri at at Sienna Ranch Missouri TX Sinc Plaza Sienna Ranch 6506 HighwayCity, 90City, A TX Delivery: Ready TX Katy, Shops at at Katy Trails Katy, TX Plaza Shops Katy Trails Shops at Pebble Creek 9402 State Highway 6 Richmond, TX Grand Pkwy & W Bellfort Shops at Pebble Creek Richmond, TX Pkwy & W$118,572 Bellfort oveo 6144 Sienna Ranch 6144 Sienna Road MISSOURI CITY, TX Grand MISSOURI CITY, TX RICHMOND, TX SUGAR Clay Road (@ Peek Road) Clay Road (@ Peek Road) Land forRanch SaleRoad (owned by Rubicon Realty Group)LAND, TX Ave HH Income: FM 1463 (South of I-10)

For Lease:

Parkway Condominium Park GLA: 7810 7810 West West GrandGrand Parkway SouthSouth (Coming in 2018) Telfair Office

GLA: GLA: Total ForPopulation: Lease: For Lease: For Lease: For Lease: Daytime Population:

Shops at Pebble Creek 7022 State Highway 6

17,000 SF SF 17,000 192,366 17,000 SF SF 17,000 189,150

Delivery: Delivery:

Fall Fall 20182018

Ave Ave HH Income: HH Income:

$98,602 $98,602

TotalTotal Population: Population:

204,206 204,206

Daytime Population: Daytime Population: 151,838 151,838

Shops at Oyster Creek 9402 State Highway 6

17,000 SF

Highway 7022 7022 State State Highway 6 6

GLA: 14,040 SF SF GLA: 14,040 GLA: 7,125 GLA:For 7,125 SF Land for Sale (third-party listings) Lease: 3,156 SF SF For Lease: 2,7372,737 SF SF For Lease: For Lease: 2,294 SF For Lease: 2,294 SF Delivery: Ready Delivery: Ready Delivery: Ready Delivery: Ready Delivery: Ready Ave HH Income: $112,236 Ave Ave HH Income: $118,473 HH Income: $118,473 Ave HH Income $113,767 Ave HH Income (5mi): (5mi): $113,767 Total Population: $155,130 TotalTotal Population: 168,653 Population: 168,653 Total Population 141,339 Total Daytime Population (5mi): (5mi): 141,339 Population: $106,397 Daytime Population: Daytime Population: 117,066 117,066 Daytime Population (5mi): 85,443 Plaza W.Belfort & Grand Shops at Easton Daytime Population (5mi): 85,443Parkway

7810 West Grand Parkway S.

6506 Highway 90 A

Missouri City, TXTX at at Pebble Creek City, Shops Pebble Creek Shops Richmond, TXTX Shops Grand Pkwy && WW Bellfort Richmond, Grand Pkwy Bellfort Shops at Easton at Missouri Easton Missouri City, TX Shops at Oyster Creek Missouri City, TX Shops at Oyster Creek 7022 State Highway 6 7022 State Highway 6 7810 West Grand Parkway South 7810 West Grand Parkway South Highway 6506 6506 Highway 90 A 90 A

GLA For

Deli

Ave

Tota

Day


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


PD

Jones Crossing

tche ll P k wy 32,2 33 V

Future Development

1800 Wellborn Road College Station, TX 77845

Property Highlights

Har vey Mi

• New 106,000 SF H-E-B opening September 2018 • More than 47,000 SF of small tenant space

28 18 /

• Restaurant spaces include outdoor patios & common green areas with amphitheater

FM

• Multiple pad sites available • Located in rapidly expanding south College Station Balcones Drive

For More Information, Please Contact: Cyndee Smith

Sr. Vice President Retail & Land Services C: 713.816.3407

Jeremy Richmond Managing Director Land Services O: 979.268.2000

1 Mile

Wellborn Road : 33,194 VPD

2800 S Texas Avenue, Ste. 401, Bryan, TX 77802 OldhamGoodwin.com

Retail is Rising in La Porte Trade area population of 380,000 Trade area average income of $72,000 Estimated trade area daytime population of 154,000 No impact fees Harris County’s only public beach

LIFE. BY THE BAY. Contact CramerR@LaPorteTX.Gov or 281-470-5016


The

Retail Guys The founding partners of Houston-based Capital Retail Properties have come a long way since the 11/11/11 launch of the now highly respected, full-service commercial brokerage firm. Capital Retail Properties has forged a niche specializing in the development, marketing and disposition of anchored shopping centers and tenant representation. Since the company rollout, they have leased, brokered and/or developed approximately five million square feet across the region with transactions totaling well in excess of a billion dollars. Capital Retail Properties has also won over a blue chip stable of clients ranging from Midway and McDonaldâ&#x20AC;&#x2122;s to Prosperity Bank, Academy Sports, & Outdoors, Grub Burger Bar and Corner Bakery.

281-816-6550 www.capitalretailproperties.com

From left to right:

Ford Scott, Eric Walker, & Anderson G. Smith


RETAIL READY TO GO, RIGHT NOW.

CYPRESS CROSSING

BOARDWALK AT TOWNE LAKE

Hard Corner Mixed-Use Development

• Phase 1 of retail available for established retail and restaurant concepts • Traffic Counts: 149,000 (Highway 290); 60,300 (FM 1960) • 3 Mile Population: 115,834 • 3 Mile Average HH Income: $95,280 • Kelsey Seybold – 75,000 SF single-use medical office building breaking ground 3rd Qtr. 2018 • Hotel breaking ground 2nd Qtr. 2018 • Next phase of mixed-use retail/office coming soon

Waterfront Retail/Restaurant/Office Space

• At the entrance of Towne Lake • Located just 1 mile north of Lone Star College Cy-Fair and the Berry Center • Surrounded by numerous residential communities • 3 Mile Population: 99,925 • 3 Mile Average HH Income: $105, 517 • NEXT PHASE UNDER CONSTRUCTION!

ALDI ANCHORED RETAIL SWC OF KUYKENDAHL RD. & HUFSMITH

TOWNE LAKE RETAIL Hard Corner of Tuckerton and Towne Lake Pkwy

Space Available

• Just south of The Woodlands • .5 mile south of Creekside Park Village • 1,200 SF retail space available in 4,550 SF pad building • .95 acre site available for sale or build to suit • Ease of accessibility and great visibility

• ONLY ONE SPACE REMAINING! • Adjacent to Kroger Marketplace, across from The Boardwalk at Towne Lake • Approximately 260,000 people and 80,000 households within 5 miles • Join major retail, restaurants and medical

Caldwell Companies has over 27 years of unmatched market experience and local expertise to serve all your retail leasing and brokerage needs. HOUSTON

|

THE WOODL ANDS

|

COLLEGE STATION

Contact: Mary Caldwell, CCIM, SIOR | MCaldwell@CaldwellCos.com | 281.664.6636 |

CaldwellCos.com

|

713.690.0000


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WHERE AND WHEN? Thursday, August 30th, 2018 JW Mariott in Downtown Austin 11-1 PM Registration and Set Up 1-5 PM Retail Live! Trade Show 5-8 PM Reception

media sponsor:


civil fair play

Floodplain Ordinance Revisions BY: OMAR IZFAR, ATTORNEY WILSON CRIBBS+GOREN & JAMES JONES, PE, JONES | CARTER

Houston City Council voted just last month to approve revisions to its controversial Floodplain Ordinance. Here are some of the highlights of what the revised Ordinance does: Regulated Area Previously, Houston’s code applied to new permits and plats in the 100-year floodplain. The new revisions extend this to the 500-year floodplain. Land in the 100-year floodplain has a 1% chance of flooding in a single year while the 500-year floodplain has a 0.2% chance of flooding. As you know, we managed to experience a series of events that met or exceeded the 100-year rainfall intensities in the past few years. The City intends to regulate new construction to the 500-year floodplain

Elevation The previous regulations required a structure within the 100-year floodplain to be raised to the finished floor elevation plus one foot. The new regulations require a minimum elevation at the 500-year floodplain level plus two feet. 40

May 2018

Does this mean I have to raise my structure?

FEMA Floodplain Considerations

Only if you are building new construction, building an addition, or improving your structure more than 50% of the value of the existing improvements, what the City considers a “substantial improvement.” Nobody is grandfathered from these regulations, but it requires action on your part to trigger compliance.

Prior to Hurricane Harvey, The Hydrometeorological Design Studies Center (HDSC) within the Office of Water Prediction (OWP) of National Oceanic and Atmospheric Administration’s (NOAA) National Weather Service (NWS) was updating precipitation frequency estimates for various parts of the United States and affiliated territories, which are published as Volumes of NOAA Atlas 14 (NA14). HDSC is currently updating estimates for the state of Texas that will be published in 2018 as NOAA Atlas 14 Volume 11 Version 2 the National Oceanic and Atmospheric Administration (NOAA). This update to precipitation estimates would most likely lead to revisions of the current floodplain maps by FEMA. Along with the Chapter 19 regulation revisions, an addendum was passed stating that if the FEMA floodplain maps within Harris County are updated, the City of Houston City Council will vote within 60 days on whether to amend the floodplain regulations again.

Zero Net Fill “Zero net fill” restrictions had previously applied to property in the 100-year flood zone. The new regulations will extend the zero net fill criteria to the 500-year flood zone. Imported fill cannot be used to achieve the new 500-year plus 2 feet requirement.

Impacts Only incorporated areas of the City of Houston are affected by these revisions. We would not be surprised to see other municipalities in the metro area adopting similar standards. Certain areas are poised to experience large impacts. For example, the area north of Lake Houston has approximately a 6-8 foot difference between the previous 100-year elevation requirements and the new 500-year requirements. Regardless of the development type, the revisions add an additional 51,200 acres of land (13% of the overall city limits) to the area regulated by Floodplain Ordinance.

Is there any way around this? The Floodplain Ordinance does contain provisions for a variance in certain circumstances. Variance requests are heard by the City’s General Appeals Board, and are not easily granted.

If the FEMA maps are updated, the 100-year water surface elevation would likely rise and may be as high as the existing 500-year water surface elevation in certain areas. In the past, the process of updating the FEMA maps has proven to be lengthy. Future updates to maps would likely take several years and be adopted on a watershed-by-watershed basis. It is likely that additional amendments to Chapter 19 will continue to be made, and we will follow along with the updates and their associated impacts. If you would like to speak to either of the authors about these regulations you can contact Omar Izar at oizfar@wcglaw.com or James Jones at jcjones@ jonescarter.com


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

BoyarMiller (a law firm) Energy Update Breakfast Forum -Speakers: Paul Perea - Tudor, Pickering, Hold & Co.; John Berger - Sunnova Energy; Sanjiv Shah - Simmons & Company International

PAUL PEREA

JOHN BERGER

SANJIV SHAH

Takeaway: The oil & gas industry is going through an adjustment phase based on presumed price stabilization engineered by OPEC. Solar energy technology has resulted in a 95% drop in panel prices and stunning technological progress in storage batteries, resulting in huge growth opportunities for this renewable energy source; electricity produced by wind is growing as well, but this energy often has to be transmitted over large distances and it is not as predictable as solar, which can be created and stored on-site and used on-site by residential and commercial customers.

nationwide to cover any shortage of power coming from their panels

• There are several sizeable CF organizations now in Bullets:

• Offshore activity is largely at a standstill due to higher production costs in that sector, although there is some activity in the Gulf and other areas; this sector should see consolidation to ensure survivability in the current pricing climate

• Houston remains the energy capital of the world; Saudi Arabia’s influence lessens with increasing oil output due to fracking in Texas and other states in the U.S.; some renewable energy firms are here to help our city maintain the title of Energy Capital

• Ongoing innovation and falling prices will soon make solar users completely untethered to power companies, freeing solar users from any regulatory oversight; this will have big implications nationwide; in the meantime, politicians are subsidizing nuclear and coal fired generation plants, which are increasingly unable to compete with advances by renewable energy providers; we are moving toward deregulation of electricity • Oil field service companies are in limbo, some stuck with old equipment not yet paid for; traditional lending sources for these companies have largely dried up and financing is coming from other sources; however, so far there has been limited consolidation

• Cheap and plentiful natural gas-not just political pressure- is the factor driving coal down to about 28% from 50% of fuel used nationwide to generate electricity

• Overall renewable energy is not a threat to fossil fuels since they are used as feedstocks for many other products and can deliver power in ways solar and wind electricity power cannot

• Texas is the state with the biggest potential for windgenerated electricity, but it may never exceed 20% of total energy generated; solar-generated electricity is steadier and thus more predictable

• There are some states with increasing solar and wind energy production and declining population and therefore declining demand for electricity generated by coal, oil, & gas

• Growth in renewable energy depends on technological improvement in batteries to store the electricity and this improvement is happening, ensuring expansion of solar and wind

• Nationwide there is a “Byzantine” system of regulation of electricity production and delivery, involving federal, state, and local governments-much or all of this will go away when homes and businesses create and store the energy they need

• Sunnova is exclusively in residential solar panel installation, using the same contract for long terms; contracts are then securitized and sold off; residential customers still contract with local power companies

• Fracking outside of North America has not really taken off due to different ownership rights of subsurface minerals and local pushback against drilling May 2018

41


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

MAY FEATURE: TEE TIME HOSTED BY KRISTEN MCDADE AND BERKADIA

Central South Texas

North Texas

Southeast Texas


CENTRAL SOUTH TEXAS

May MONDAY

TUESDAY IREM Austin - Board Meeting [11:30am -1:00pm]

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

WEDNESDAY 1

THURSDAY 2

BOMA Austin Community Outreach Committee 1 [8:00am - 5:00pm]

RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com TABB AUSTIN: tabb.org/austin_chapter.php TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org

RECA Austin - Committee Meeting [12:00pm - 1:00pm]

BOMA Austin - Board Meeting [7:30am 11:00am]

FRIDAY 4

3

BOMA San Antonio - Golf Tournament [11:00am - 5:00pm] CTCAR - Why Buy Greater Austin? [11:00am - 12:30pm] RECA Austin - LDC Alumni Happy Hour [5:30pm 7:00pm]

REDNews Newsletter [4:00pm]

8

7

RECA San Antonio Economic Development Update [7:30am - 9:00am]

9

RECA Austin - RECA Project Tour [4:00pm - 5:00pm] ULI Austin - Marketplace [5:00pm - 7:30pm]

REDNews Newsletter [4:00pm]

14

RECA Austin - REAL YP Breakfast [8:30am - 10 :00am]

10

CREW Austin - Women in Architecture [11:30am - 1:00pm]

21

CCIM CT - Luncheon [11:30am -1:30pm]

11

BOMA Austin - Foundations of Commercial Real Estate [8:00am - 5:00pm]

BOMA Austin Luncheon [11:30am - 1:30pm]

18

17

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

CREW Austin - Who Wants to go to Cabo? [12:00pm 1:30pm]

RECA Austin - Regional Issues Committee [12:00pm -1:30pm]

REDNews June Issue Deadline [5:00pm]

IREM San Antonio Luncheon [11:30am - 1:00pm]

16

15

CTCAR - Property Information Exchange [7:30am - 9:00am]

22

(Sunday, May 20) CREW Austin - Mommy & Me Tea [12:30pm -3:30pm]

ULI Austin - Shark Tank Breakfast [7:30am 9:00am]

24

23

25

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

REDNews Newsletter [4:00pm]

CTCAR - Luncheon [11:30am - 1:00pm] TABB San Antonio Luncheon [11:30am - 1:00pm]

REDNews Newsletter [4:00pm]

28

29

30

BOMA Austin Seminar: Emergency Preparedness [8:00am - 5:00pm]

31

RECA Austin - Luncheon [11:00am - 1:00pm]

44

May 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 AUSTIN GOLF TOURNAMENT

CENTRAL SOUTH TEXAS SOCIAL

L to R: Winning Team; Lanier Parking, Geoff Koch, Ken Snith, Juan Motalvo, Andrea Borel

CREW SAN ANTONIO - RECSA ANNUAL FIGHT NIGHT

f Tournament 4-5-18 Winning Team Lanier Parking Geoff Koch Ken Snith Juan Motalvo Andrea Borel

CREW San Antonio President Dena Box with Championship Belt

CREW San Antonio President Dena Bos with Championship Belt RECSA Annual Fight Night Gala

From left to right- President Marcelino Medina, Secretary Tomas Villagomez, Board Member Ruby De La Garza, Vice President Rosario Coplea, Treasurer Guadalupe Martinez, Board Member Jaime Sandoval.


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 GFW AR: gfwar.org IREM DALLAS: irem-dallas.org IREM FORT WORTH: fortworthirem.org

NORTH TEXAS

May MONDAY

TUESDAY BOMA Dallas - Annual Women's Breakfast [7:30am - 10:00am]

WEDNESDAY 1

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

BOMA Dallas - Golf Classic Spectator Registration [2:00pm 3:00pm]

7

CREW Fort Worth EmpowerMENT Event [5:30pm - 7:00pm]

2

IREM Fort Worth FIN402 Financial Tools Course [8:30am - 4:00pm]

GF WAR - Luncheon [11:30am - 1:00pm]

9

IREM Dallas - Executive Council Meeting [12:00pm 2:00pm]

REDNews Newsletter [4:00pm]

REC of Fort Worth - Golf Tournament [11:00am - 4: 00pm]

THURSDAY

CREW Fort Worth - Golf Tournament [10:30am 6:00pm]

8

CCIM North Texas - Topgolf Competition [4:00pm 7:00pm]

16

14

15

21

22

23

28

29

30

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

REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

46

May 2018

LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR GFW: gfwar.org/home-top-commercial.html 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 - 5th Annual Topgolf Competition [4:00pm 7:00pm]

REC of Fort Worth YLC Breakfast [8:30am - 9:30am]

FRIDAY 4

3

10

REDNews June Issue Deadline [5:00pm]

11

IREM Dallas - Luncheon [11:30pm - 1:00pm] REC of Fort Worth - Bus Tour [5:00pm - 7:00pm]

IREM Fort Worth - The Problem: Generational Diversity [11:30am - 1:00pm]

TABB Dallas Luncheon [11:30am - 1:00pm]

CCIM North Texas Deal Making Session [5:30pm - 7:30pm]

17

18

24

25

31

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

NORTH TEXAS SOCIAL CCIM NORTH TEXAS

L to R: Ben Manna, Paul Ward, Robert Trovato

CCIM NORTH TEXAS BOMA Dallas YP Bring Your Boss Happy Hour- Ben Manna, Paul Ward, Robert Trovato

CCIM North Texas March Luncheon – Mark Schleyer with AT&T, speaker

CCIM North March Luncheon – Mark Schleyer with AT&T

L to R: Pam Spadaro, CCIM and Jay Lucas, CCIM

BOMA FORT WORTH

Happy Hour Pic 1 – Pam Spadaro, CCIM and Jay Lucas, CCIM at March Happy Hour at Sevy’s

Robert Sturns


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

SOUTHEAST TEXAS

May MONDAY

TUESDAY

WEDNESDAY 1

BOMA Houston - Asset Management BOMI Course [8:00am - 5:00pm]

7

REDNews Newsletter [4:00pm]

8

CORENET Houston - Breakfast Meeting [7:30am - 9:00am] ACRP Houston - Cinco de Mayo Happy Hour [5:00pm - 7:00pm]

THURSDAY 2

CREW Houston - Luncheon [11:30am - 1:00pm]

BOMA Houston - MOB [8:00am - 5:00pm]

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

9

CREAM The Woodlands Luncheon [11:30am - 1:00pm]

IREM Houston Introduction to Property Management [8:30am 12:30pm]

BOMA Houston - MOB [8:00am - 5:00pm]

FRIDAY 3

10

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

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

BOMA Houston - MOB [8:00am - 5:00pm]

4

11

REDNews June Issue Deadline [5:00pm]

CREW Houston Nominating Committee Reception [5:30pm - 7:00pm]

REDNews Newsletter [4:00pm]

14

15

16

21

22

23

28

29

30

ULI Houston UrbanPlan Volunteer Training [7:30am - 4:00pm]

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

17

BACREN - Luncheon [10:30am - 1:00pm] ULI Houston - Leadership Luncheon [11:30am - 1:30pm] BOMA Houston - Expo [2:00pm - 7:00pm] CREW Houston - Dine Around [6:00pm - 8:00pm]

24

CREN Gulf Coast Marketing Session [7:30am - 9:00am]

18

25

REDNews Newsletter [4:00pm]

ULI Houston UrbanPlan Volunteer Training [7:30am - 4:00pm] REDNews Newsletter [4:00pm]

48

May 2018

TABB Houston Chapter Meeting [11:30am - 1:00pm]

31

CREN Gulf Coast - Happy Hour [4:30pm - 7:00pm]

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.


CUSHMAN & WAKEFIELD

SOUTHEAST TEXAS

2018 Global Multifamily Investment Summit

SOCIAL AVISON YOUNG'S 8TH ANNUAL RODEO PARTY

Cushman and Wakefield 2018 Global Multifamily Investment Summit

L to R: Scott Fikes and Andrew Minchew Cushman and Wakefield 2018 Global Multifamily Investment Summit Ed Nwokedi

TABB HOUSTON

Avison Young's 8th Annual Rodeo Party

Avison Young's 8th Annual Rodeo Party L to R Scott Fikes and Andrew Minchew

Avison Young's 8th Annual Rodeo Party L to R Jana Moore and Rand Stephens

L to R:Jana Moore and Rand Stephens


CENTRAL SOUTH TEXAS bulletin

AUSTIN, TX

BUDA, TX

FOOTBALL STADIUM EXPANSION The University of Texas has issued a request for proposals for renovation & expansion of the Darrell K. Royal – Texas Memorial Stadium. The cost estimate is $140 million for the expansion on the stadium’s south end. More suites & seats will be added as well as additional kitchen space, club rooms, offices for coaches, restrooms, etc.

HOSPITAL DEVELOPMENT Baylor Scott & White Health has broken ground on a +/-75,000 sf full service hospital at 5330 White Wing Trail. It is scheduled to open summer 2019.

HIGH-RISE RESIDENTIAL DEVELOPMENT Pearlstone Partners, formerly Lee Development & Construction, plans to start construction on a 33-story condo tower at 48 East Avenue in the Rainey Street Historic District by year end. The developer is currently finishing construction on their adjacent high-rise project at 70 Rainey.

ELGIN, TX

e Great Outdoors PRODUCTION CAMPUS DEVELOPMENT

s andJohn Locations Robison is in the process of expanding & developing the 200-acre, former Spiderwood

HOTEL SALE Pinnacle Hotels USA purchased the 194-room, DoubleTree by Hilton Hotel located at 8901 Business Park Drive, adjacent to The Domain & The Arboretum. The seller was Driftwood Hospitality Management represented by John Bourret & Daniel Peek along with their HFF investment advisory team. OFFICE DEVELOPMENT

Cousins Properties, Ironwood Real Studios facility thatlog he purchased istoric pioneer cabin last year·at 1 mile of Colorado River Estate & Riverside Resources revised 140 Utley Road into a $170 million production their residential tower development iverfront film house campus including sound stages and 162 acresfrontage plans at 300 Colorado to a 34-story of backlot. It is now called Republic Studios. office tower with 340,000 sf of office Gravel & dirt roads · Vintage gas station & 10,000 sf of restaurant space. It includes 13 levels of parking & has ow water crossing bridge · Cemetery been pre-leased by Parsley Energy. 00+ year old pecan trees · Country road with bridge OFFICE DEVELOPMENT Stream Realty purchased the 1.4 acre Native flora and landscapes · Film friendly towns site at 425 W.small Riverside two years ago & is now negotiating with the city to igh plains⁄open pastures have it zoned for office construction. The site currently houses a Hooter’s Restaurant.

tours and bookings, please contact

Mindy Raymond

OFFICE EXPANSION Software company, Oracle, moved into its new, five-story building overlooking Lake Bird Lake in March & will expand their 560,000 sf campus by 420,000 sf. OFFICE LEASE Innovative Aftermarkets Systems (IAS) leased 40,000 sf at Preserve at 620 located at 8201 N. FM 620. Ryan Bohls of Newmark Knight Frank represented the tenant & Ben Tolson & Joe Simmons with AQUILA Commercial represented the landlord.

Director, Marketing & Development p: 310-770-1915 e: m.raymond@newrepublicstudios.com

PUBLIC MARKET CONSTRUCTION Addison-based Makers Inc’s 40,000 sf St. Elmo Public Market is nearly 50% pre-leased & the second phase of the project, a 385-unit apartment project will start in the first quarter 2019. The project is located on a 12.5 acre site on the south side of Ben White Blvd, bound by South Congress Avenue & St. Elmo Road.

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May 2018

CEDAR PARK, TX MIXED-USE DEVELOPMENT The Cedar Park City Council has approved changes to a plan for 126 acres at the NWC of East Whitestone Blvd (FM 1431) & Sam Bass Road (CR 175) requested by developer Thompson Morris Real Estate Development Company. Plans call for 100,000 sf of restaurants, bars & entertainment facilities, 270,000 sf of office space, 50,000 sf of boutique office space & 120 highrise condominiums.

DRIPPING SPRINGS, TX MIXED-USE DEVELOPMENT Blue Blazes Development/Red River Waste Solutions has broken ground on their 35-acre mixed-use development at 1601 E. US HWY 290. The project will include an 83-room hotel, retail, medical & office space upon completion.

HUTTO, TX AMPHITHEATER DEVELOPMENT The City of Hutto has started construction of an amphitheater on 65 acres it purchased at 1001 County Road 137. The theater will cost approximately $3.4 million and host 10,000 people upon completion in approximately four months.

LAKEWAY, TX MIXED-USE DEVELOPMENT Lakeway-based developer Legend Communities has again met resistance from Lakeway’s Zoning & Planning Commission for the development called City Center. The project includes 63 acres located at Lakeway Blvd & Lohmans Crossing Road & is proposed to have 288 residential units & more than 700,000 sf of office, retail & hotel development. It is currently zoned for governmental, utility & institutional usage.

ROUND ROCK, TX HIGH-DENSITY RESIDENTIAL DEVELOPMENT The Round Rock City Council recently voted to allow high-density residential development on about 11.6 acres near Bass Pro Drive & North Mays Street which is near Bass Pro Shops along I-35. RESORT & CONVENTION CENTER DEVELOPMENT Wisconsin-based Kalahari Resorts LLC

will break ground in May on Kalahari Resort & Convention Center near the Dell Diamond. The $350 million project will include a 975-room hotel, a 150,000 sf convention center, restaurants & water park amenities.

SAN ANTONIO, TX BREWERY EXPANSION Alpine-based Big Bend Brewing Company has broken ground on a brewery at 1310 Cornerway Blvd, near the intersection of I-10 & Loop 410. CALL CENTER RELOCATION AT&T is relocating 117 call center employees at 9051 Park West Drive in Houston to San Antonio. INDUSTRIAL SALE Daily Bread Ministries sold its 170,000 sf warehouse on Rittman Road to a large roofing company for $6 million. The buyer was represented by Nick Prater & Mike Weiss of 4M Realty & the seller was represented by Mike Hoover with DH Realty Partners who then negotiated a 55,452 sf office/warehouse purchase for Daily Bread Ministries on Belgium Street. The seller of the property, Broussard Basics LLC was represented by Andrew Price with Peloton Commercial Real Estate. MULTI-FAMILY SALE The Accend Companies purchased the 336-unit Flats at Big Texas apartment complex located at 423 Blue Star along the River Walk. The project opened in 2016. MULTI-SPORT COMPLEX CONSTRUCTION Boys & Girls Clubs of San Antonio has broken ground on a $1.6 million sports facility at the agency’s Eastside Clubhouse. The facility will include baseball & soccer fields, volleyball & basketball courts & a walking trail. RETAIL SALE San Diego-based ShopCore Properties, a national REIT, sold the 80,347 sf Ingram Hills Shopping Center located at 6000-6064 Ingram Road to an unnamed local investor. The seller was represented by Bradley Suttle with San Antonio Commercial Advisor (SACA), an independently owned & operated member of the Cushman & Wakefield Alliance.

SCHERTZ, TX INDUSTRIAL SALE Dallas-based Colony Industrial, a division of Colony Northstar Inc, purchased the 2-property, 639,797 sf industrial park located at 17745 Lookout Road for $52.1 million. Randy Baird, Jonathan Bryan & Ryan Thornton of CBRE handled the transaction.


AUBREY, TX RESIDENTIAL DEVELOPMENT Highland Homes is building a 2,600 home community in the Sandbrock Ranch community, a 2,400-acre ranch located at FM 1385 & Bonar Road. Homes will start near $250,000 & models will be open in June.

CARROLLTON, TX EXERCISE/TRAINING CENTER LEASE Adaptive Training Foundation leased 17,373 sf at 4125 Old Denton Road for an exercise & training center with a focus on veterans who have physical impairments.

DALLAS, TX INDUSTRIAL LEASE ABC Supply Company leased 39,646 sf at 4884 Duncanville Road in Redbird Industrial Park. Matt Elliott with NAI Robert Lynn represented the landlord & Dan Spika with Henry S. Miller represented the tenant. INDUSTRIAL SALE Toronto-based, Agellan Commercial REIT purchased 7 light industrial properties in NE Dallas for approximately $12.2 million. The buildings include 194,000 sf & are 97% leased to 13 tenants. INDUSTRIAL SALE 9225-9249 King James LLC sold its 69,866 sf building at 9225-9249 King James Drive to King James Properties LLC. Jason Moser with Stream Realty Partners represented the seller. INDUSTRIAL SALE Magpie Land, LLC sold its 43,597 sf building at 1371-1373 & 1375 Round Table Drive to DTC Real Estate Holdings, LLC. Tom Pearson & Brad Balke with Colliers represented the seller & Jason Moser & Hanes Chatham with Stream Realty represented the buyer. OFFICE LEASE Barnes & Thornton leased 28,000 sf in PWC Tower at the corner of Pearl Street & Woodall Rodgers Freeway. They will relocate in September from their current location on McKinney Avenue. OFFICE LEASE Guidestone Financial Resources leased 113,585 sf at Pinnacle Tower, 5005 Lyndon B. Johnson Freeway. J.J. Leonard, Sara Terry & Chase Lopez with Stream Realty represented the landlord & Jones Lang LaSalle Americas represented the tenant. OFFICE SALE A Dallas-based limited partnership sold the historic five story, 711 Elm Street Building which includes 7,200 sf of street level retail space & 137 parking spaces. Matthew Rosenfield, Mike Allen & Keven Butkus with Weitzman represented the seller. The buyer is a local investment group.

OFFICE/TRAINING FACILITY OPENING Southwest Airlines has opened its new $250 million, 800,000 sf addition to their Dallas campus. The new development includes two new office buildings & a pilot training facility.

DALLAS/ LANCASTER, TX INDUSTRIAL PORTFOLIO SALE New York-based Clarion Properties purchased a 3.75 million sf industrial portfolio which includes 3901 & 3951 Corporate Drive in Lancaster & 4685 Mountain Creek Parkway in Dallas. These buildings total over 645,000 sf. The remainder of the portfolio includes properties in Las Vegas, Denver & Atlanta. Randy Baird, Jack Fraker, Ryan Thornton, Johathan Bryan, Darla Longo & Chris Riley with CBRE National Partners & Jim Bolt with CBRE Industrial & Logistics in Denver represented the seller, the PAULS Corporation of Denver.

FARMERS BRANCH, TX INDUSTRIAL LEASE A&W Trucking leased 32,000 sf at 13290 Senlac Drive. Andrew Gilbert with Holt Lunsford represented the landlord & Trace Fielding with Paladin Partners represented the tenant. OFFICE COMPLEX SALE New York-based Taconic Capital Advisors purchased International Plaza I & II located at 14221 & 14241 Dallas Parkway. The two buildings includes +/- 760,000 sf. They were left vacant by the recent relocation of JPMorgan Chase & Fannie Mae to new office campuses in Plano. The new owner plans to renovate the buildings.

GARLAND, TX INDUSTRIAL SALE Kingsley Industrial LLC sold its 54,000 sf building at 2601 W. Kingley Road to Snell Motor Company, Inc. Matt Dornak & Ryan Wolcott with Stream Realty handled the transaction.

GRAND PRAIRIE, TX DISTRIBUTION CENTER OPENING Mitsubishi Caterpillar Forklift America Inc. has opened its 60,000 sf distribution facility located at 700 Commerce Park Drive. INDUSTRIAL SALE Soho Somervell Trinity, LP sold its 265,877 sf building at Trinity 161 Trade Center at 3100 State Highway 262 to Colony Industrial. Cannon Green & Sarah Ozanne with Stream Realty represented the buyer. INDUSTRIAL SALE Americo Real Estate sold its 43,846 sf building at 1713 S. Great Southwest Parkway to Innovative Machine & Laser LLC. Michael Spain & Clint Manning with Bradford Commercial

represented the seller & Luke Davis & Drew Feagin with Stream Realty represented the buyer.

IRVING, TX INDUSTRIAL BUSINESS PARK LEASE Sourcecorp BPS Inc leased 99,451 sf at Parc Royal – Building 5, located at 3750 W. Royal Lane. Blake Kendrick & Sarah Ozanne with Stream Realty represented the landlord, & Jackson Shaw & Dan Woldert with Swearingen Realty represented the tenant. OFFICE LEASE Medallion Midstream leased 28,000 sf at Tower 909 located at 909 Lake Carolyn Parkway. The company will triple its corporate headquarters & is relocating from 222 W. Las Colinas Blvd. RETAIL SALE New York-based Clarion Partners LLC purchased the newly built Shops at MacArthur Hills, a 75,387 sf center located at the corner of North MacArthur Bld & President George Bush Turnpike. Ryan Shore, Barry Brown, Jim Batjer & Aaron Johnson with HFF represented the seller, Leon Capital Group.

LEWISVILLE, TX MULTI-FAMILY DEVELOPMENT Lewisville City Council has approved variances for Whittington Holdings to build a 4-story, 308 unit project at 3000 N. Stemmons Freeway. The property was formerly utilized as a mobile home park.

PLANO, TX CORPORATE RELOCATION Samsung will relocate their north Texas workers to Legacy Central on Legacy Drive & US 75. They have leased 216,000 sf & will relocate to Legacy Central in early 2019. INDUSTRIAL LEASE Custom Computer Cables of America, Inc leased 20,000 sf at 1600 10th Street. Josh Barnes & Ben Wallace of Holt Lunsford represented the landlord & Andy Goldston of Citadel Partners represented the tenant.

NORTH TEXAS

bulletin

Rendering Courtesy http://3plcentral.com

GARLAND/MANSFIELD/PLANO, TX RETAIL DEVELOPMENT Plano-based home furnishings retailer At Home is opening a 108,000 sf store at the SEC of President George Bush Turnpike & Firewheel Parkway in Garland, a 98,000 sf store at SH 121 between Preston Road & Parkwood Blvd in Plano and a 108,000 sf store at the NEC US 287 & East Bard Street in Mansfield.

Steve Triolet has joined Younger Partners as director of research.

Rhett Miller has joined Stream Realty Partners as a Senior Associate in their Office Division.

OFFICE CONSTRUCTION Cawley Partners is building a 200,000 sf “millennial-focused” office building called HQ53 at the NEC of Headquarters Drive & Dominion Parkway. The building will have sealed concrete floors, high ceilings & wood beams on open ceilings.

WACO, TX RETAIL LEASE Dick’s Sporting Goods will open a 45,000 sf store in Richland Mall located at West Waco Drive & SH 6. They will be an anchor for the center with an outside entrance to the enclosed mall.

May 2018

51


SOUTHEAST TEXAS bulletin

BAYTOWN, TX STEEL MANUFACTURER EXPANSION JSW Steel (USA) could invest up to $500 million in its announced expansion of its steel manufacturing infrastructure in Baytown. The first phase of $150 million is underway.

BEAUMONT, TX SELF STORAGE SALE Storage Depot, located at 6320 College St, was purchased by a West Texas investor. The Loeffler Self Storage Group, Inc. brokered the transaction.

CONROE, TX RETAIL LEASE Master-planned community Grand Central Park is adding additional tenants to its 336 Marketplace located along the south side of Conroe’s Loop 336 near the west side of I-45. The additional tenants are HomeGoods, Marshalls, and Michael’s Companies, Inc.

HOUSTON, TX MALL SALE GGP Inc., which owns five Houston-area malls, has agreed to be acquired by Brookfield Property Partners LP, a real estate unit of Brookfield Asset Management. The deal is worth nearly $15 billion. The malls include Baybrook Mall in Friendswood, Deerbrook Mall in Humble, First Colony Mall in Sugar Land, The Woodlands Mall & Willowbrook Mall in northwest Houston.

Shane Cawood has joined Hartman Income REIT Management, Inc. as VP of Property Management.

HOUSTON, TX INDUSTRIAL DEVELOPMENT Dallas-based Trammel Crow Company & New York-based Clarion Partners have broken ground on Phase II of Fallbrook Pines Business Park which will include two building of 291,707 sf & 368,467 sf located near Beltway 8 & SH 249 on Fallbrook Drive. INDUSTRIAL LEASE Banta Corporation leased 129,600 sf at Claymoore Northwest located at 11711 Clay Road. CBRE handled the transaction. INDUSTRIAL SALE HFF sold Brookhollow West Business Park, two warehouse buildings totaling 232,950 sf in northwest Houston at 7140 and 7049 West Sam Houston Parkway North at the intersection of the Sam Houston Tollway and Highway 290. HFF represented the seller, AIV, Inc. A subsidiary of STAG Industrial, Inc. purchased the asset for an undisclosed price. INDUSTRIAL SALE HFF sold Intrepid Business Park, an industrial project totaling 270,750 sf in northwest Houston at 5737 and 5747 Brittmore Road. HFF represented the seller, Triten Real Estate Partners. Their advisory team included senior director Trent Agnew and senior managing director Rusty Tamlyn and analyst Dane Petersen. MIXED-USE DEVELOPMENT The Cannon, a 120,000 sf mixed-use project located north of I-10 and west of Beltway 8 has broken ground according to Mark Toon, co-founder and managing partner at Work America Capital. Expected cost is $120-$150 million. MULTI-FAMILY SALE Avesta Communities LLC has purchased the 426-unit Chateaux Dijon

52

May 2018

Apartments at 5331 Beverly Hill St from FHB Beverly Hill LP in a transaction greater than $45 million. Glenn Dickerson of NewQuest Properties represented the buyer. MULTI-FAMILY SALE S2 Capital has acquired the 793unit Brompton Court apartments at 7510 Brompton Road. JLL’s Capital Markets secured the financing for the acquisition. Voya Investment Management, LLC provided the loan for S2 Capital. The seller was CMS Brompton Court, LP. Managing Director Mark Brandenburg led the JLL team. OFFICE LEASE Lee & Associates represented Family Endeavors in the lease of a 24,415 sf office space located at 3010 Briarpark Drive. Robert LaCoure of Lee & Associates represented the tenant and Jennifer Jordan with Savills Studley represented the landlord, MH Wirth, Inc. OFFICE LEASE Fiesta Mart LLC has leased 32,000 sf of headquarters office space at 5444 Westheimer. CBRE handled the transaction. OFFICE MEDICAL LEASE United General Hospital signed a lease for 44,569 sf in a newly renovated office building in the Texas Medical Center at 7501 Fannin. Greenberg & Co.’s David Greenberg represented United General Hospital. NAI’s Zach Leger, Jacob Aldridge, and Rani Jones represented the landlord, Cambridge Properties. OFFICE SALE Loop Central, a 574,944 sf office complex located at 4848 Loop Central Drive, has been sold to Griffin Partners. RETAIL SALE Baker Katz has acquired a 9,190 sf shopping center located at 5802 Kirby Drive. Baker Katz entity BK Kirby, Ltd purchased the property from Kirby Shopping Center, LP who was represented by Jim Bayne with Investar Real Estate Services, Inc. SENIOR-LIVING MULTI-FAMILY DEVELOPMENT Bridgewood Property Company has started construction on The Village of Southampton located at 5020 Kelvin Street. The development will be 17-stories with 204 units, consisting of 108 independent living units, 68 assisted living & 28 memory care units. SENIOR LIVING DEVELOPMENT Two senior living projects have been announced for the Houston area. The National Realty Group, Inc. & MedCore Partners purchased seven acres in Atascocita, at the northeast corner of West Lake Houston Pkwy & Will Clayton Pkwy for a planned 186 unit independent and assisted-living and memory care facility. TNRG and MedCore are developing an eightyunit Spring Cypress Assisted-Living &

Memory Care located at 16306 Spring Cypress Rd.

KATY, TX MASTER-PLANNED DEVELOPMENT Chinese investor Xu Qing LLC purchased approximately 1600 acres west of the Grand Parkway & FM 529 for a future master-planned development. McAllister Real Estate represented the seller, NW Katy I, II, III & IV. Re/Max United was the broker.

MISSOURI CITY, TX INDUSTRIAL DEVELOPMENT Transwestern’s Ridge Co has acquired 29 acres at 611 S. Cravens Road for a 477,355 sf industrial development. Transwestern is leasing the project.

PEARLAND, TX MEDICAL FACILITY SALE Zeller Realty Group purchased the 276,770 sf Lonza Viral Therapy Facility located at 14905 Kirby Drive from Pinchal & Company. The facility was completed in 2017 & is fully leased to Lonza, the world’s largest cell & gene therapy facility.

ROSENBERG, TX RETAIL LEASE Stage Stores opened Gordmans, a 35,000 sf department store at 24974 Commercial Drive.

SHENANDOAH, TX MULTI-FAMILY DEVELOPMENTS NorthGulf Zane Segal Projects is building a 350-unit apartment project northeast of I-45; Palmetto Homes & Palmetto MDR has broken ground on Centro, a 13-acre, two phase development; Sam Moon’s Group MetroPark Square has a 69 acre project southeast of I45 & Hwy 242 with completion expected by 2022. These three developments could add 1,389 residential units to the area.

SUGAR LAND, TX UNIVERSITY BUILDING CONSTRUCTION The University of Houston at Sugar Land has broken ground on the College of Technology building. The $54 million, 100,000 sf building will open in 2019. The building design is by Page Architects and the builder is Tellepsen Industrial.

THE WOODLANDS, TX OFFICE SUB-LEASE Calfrac Well Services Corp. sub-leased 11,665 sf located at 28420 Hardy Toll Road from Swire Oilfield Services, LLC. Sean Durkin of the J. Beard Real Estate Company represented Swire. Candace Baggett of the Calibre Group represented Calfrac.


ADVERTISER INDEX

classifieds & index

AA Realty Company 35

Greenberg & Co. 33

Alamo EDC 27

Hankamer Commercial Brokers 33

American Sign 1- N Texas, 7

Howard Hughes 25

Anderson Realty Advisors 15

La Marque Economic Development Corp. 26

Beacon Development LLC 30

McCord Development , Inc. 22, 23

Berkadia

MIMCO Inc. 24

2, 3

Caldwell Companies 38

National Environmental Services, LLC 55

Capital Retail Properties 1- SE Texas, 37

Oldham Goodwin Group 36

City Bank Texas 56

Phase Engineering 42

City of La Porte 36

Retail Live! 39

City of McAllen 1-CS Texas, 5

Robert C. Watson Associates, Inc. 15

City of Seabrook 28, 29

Rubicon Realty 34

Colliers International Ltd 15

Tarantino Properties Inc 31

Equity Secured Capital, LP 17

The J. Beard Real Estate Company 18

Evergreen Commercial 27

The Richland Companies 13

First Warrant Realty 17

The Signorelli Company 32

Freeway Properties 27

Uptown Houston District 20, 21

Gerber Realty 25

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CRE ORGANIZATION PARTNERS

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May 2018

53


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

Interview with Howard Rambin, Houston Developer

Jim Tates, Howard Rambin & Mayor Parker REDNews: Good morning, Howard: To those of us with ‘grey hair’, you are an icon in commercial real estate in Houston. Can you share-for the benefit of newcomers to the CRE game-a summary of your career, including your educational background and how you first got started in real estate? Howard Rambin: I attended high school at Deerfield in Connecticut and Kinkaid in Houston, and University of North Carolina and SMU. Starting at nine years old I had part time summer jobs ranging from paper boy, golf caddy, grocery clerk, truck mechanic assistant, bank clerk, YMCA coach, and work at a CPA firm. In my first job out of college my firm was suddenly sold and I found myself out of work, married with a child. I had a friend who developed apartments, so I thought I could do it, too, so I got investors and bought an apartment project. Then I developed a Howard Johnson motel on the Gulf Freeway, and later a Hilton on Dairy Ashford and I-10. Soon after buying the apartment project, I met Dan Moody, Jr., and we developed some zero lot line patio homes on Woodway. Dan had an established real estate brokerage firm, but we decided home building was not for us, so we developed some low rise residential-feel office buildings on Richmond Ave. between those of Gerald Hines and Ken Schnitzer (Greenway Plaza). Dan and I evolved with our company, Moody Rambin, into providing commercial real estate services for third parties, such as owner and tenant rep in leasing, management, and investments. One deal I especially remember is representing Shell Oil on a lease for over one million SF. RN: How was the Houston real estate scene different then from how it is now? HR: In 1969 there was a “frontier” mentality. Houston was booming and there were huge tax benefits then from making investments in real estate. Wealthy people were seeking to place their money to create shelter for their ordinary income. This combination gave lots of opportunities to young entrepreneurs. The 1970s were a boom time just like the ‘dot com boom’ and oil & gas booms, but like all booms, it was followed by a bust in the 1980s created by oversupply and sudden and retroactive tax law changes. Today the market has matured overall into more institutional ownership. RN: What about financing and governmental regulation back then? 54

May 2018

HR: Financing has gone from smaller entrepreneurs seeking loans to bigger credit players. Today’s regulatory environment can create an incredible burden, whereas back then it was virtually nil. RN: How long have you been with Moody Rambin? HR: I have been a major partner with Dan for 49 years now, although there are now some smaller partners with us in the firm. We have had institutional partners over the years who supplied capital for our deals. My partner Dan and his family developed Town & Country Village re-do, razing the indoor mall and creating the “village” type shopping which is there today. I did not participate in the ownership although Moody Rambin leases and manages this successful project. RN: What do you think are your personal core strengths, Howard? HR: Adaptability, or the ability to work on a variety of projects; team work, learned through participation in sports; and education in finance and accounting through my early association with a CPA firm. I have always believed in ‘giving back’ to the community, and in 1979 I founded an organization called Keep Houston Beautiful, which exists to this day. I noticed litter shredded by TXDOT mowing along the service road of Loop 610 while showing an international investor our area, and he commented on the trashy appearance as well. This non-profit organization now specializes in anti-litter, beautification, and recycling and has had over 320,000 volunteers on various projects over the years. RN: Howard, since you became semi-retired, you seem to be busier than ever. Tell our readers what you are doing now that is so fulfilling to you? HR: I am providing coaching services to business execs, recent college grads, prison inmates, and addicts. I decided I could help others by sharing my life and business experience through mentoring and coaching www.jhr-coaching-confidant.com I charge for business owners but not for recent college grads, addicts, and current and former prisoners. I do not know of a specific program for mentoring CRE people. Most of this type of learning is done through internships at CRE firms (shadowing older brokers), and informal mentoring from friends in the industry.


NATIONAL ENVIRONMENTAL SERVICES

GABRIEL ENVIRONMENTAL GROUP

Houston, Texas

Redlands, California

National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in San Bernardino, 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.

Licensed, certified and qualified to perform a wide range of services, including: • 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 • 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

National Environmental Services, LLC 5773 Woodway Drive, Suite 96 Houston, Texas 77057 Tel: 281.888.5266 Toll Free: 833-4Phase1 hgabriel@nationalenv.com www.nationalenv.com Satellite Offices: Portland (Tigard), Oregon and New York (Little Neck), New York

Gabriel Environmental Group 700 East Redlands Blvd, Suite U618 Redlands, California 92373 Tel: 951.545.0250 Toll Free: 833-4Phase1 hgabriel@gabrielenv.com www.gabrielenv.com


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REDNews - May 2018 Central South  
REDNews - May 2018 Central South