REDNews April 2018

APRIL 2018

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE

Inside: Innovating Industrial 2018 Trends to Watch Catching up with Creech The man behind Stan Creech Properties Working well at the Work Well Caldwell Companies open coworking space

View this listing and over 250 more online at CaldwellCos.com or call 713.690.0000

HOUSTON

THE WOODLANDS

COLLEGE STATION

TWO TRACTS

FT. BEND TOLL RD. & McHARD RD.

TRACT 1

TRACT 2

±7.25 acres at the NWC of Ft. Bend Toll Rd. and McHard Rd.

±11 acres at the hard NEC of Ft. Bend Toll Rd. and McHard Rd.

• Properties lie within the City of Houston and Ft. Bend County • Both tracts have curb cuts and easy access from Ft. Bend Toll Rd., as well as McHard Rd. • Contact Broker for pricing KRISTEN MCDADE Senior Director T: +1 713 469 4509 kristen.mcdade@berkadia.com

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

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

© 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

IN THIS ISSUE

8

14

20

Market

Sales & Leases 1 – 3, 5, 11, 13, 15, 17 - 19, 21

Services

Environmental Services 22, 35 Photography 27 Real Estate Loans 17, 36 Title Services 7

Scoop

Events 12, 24, 26, 28 Social 25, 27, 29 Bulletin 30 - 32

Features

Innovating Industrial 8 - 10 Catching up with Creech 14 - 16 Working well at the Work Well 20 Ray's BUZZ CCIM Luncheon Jonathan Brinsden, The Midway Companies 34

4

April 2018

Letter from the Publisher

YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE PUBLISHER

Ginger Wheless ginger@REDNews.com

Michael EDITOR

Knudsen

Margie Gohmert info@REDNews.com

STAFF WRITERS

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

Dear Readers, This time last year we were debating whether coworking space was a trend or a fad and it looks like it’s here to stay, even in the suburbs. Longtime Houston firm Caldwell Companies, who until recently specialized in development, investment & brokerage services, has added co-working space to the top floor of their building at Highway 290 & FM 1960 and are reporting leasing is ahead of schedule. (page 20).

Trends in the industrial market continue to be affected by the retail market. The more than 8,000 store closings last year seems to be bolstering business on the industrial side and according to Hillwood’s Tony Creme, “Every $1 billion of ecommerce sales requires 1.2 million square feet of industrial product.” (pages 10 - 12).

I’ve known and admired Stan Creech for many years. When you see all the dots on the map of land tracts he has sold in the Houston area, you’ll understand why I always thought a side job of providing his signage would be a very lucrative pastime. (pages14, 16).

Next month we’re headed to ICSC Las Vegas RECON convention and look forward to seeing all of you retail brokers there. Don’t forget to pack your comfortable shoes and come by to visit us!

Best Regards,

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

SALES

Ginger Wheless ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

REDNews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US .

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

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2537 S. Gessner, Suite 126 Houston, TX 77063

Where experience matters One Hundred and Forty-two years of combined commercial experience.

Sandra Paige

Diane Murphy

Commercial Division: 713-482-2800 11 Greenway Plaza, Suite 3170 Houston, Texas 77046

Michael Knudsen

Darrell Dunlap

Harry Klein

The Woodlands Office: 281-364-1500 1725 Hughes Landing Blvd, Suite 970 The Woodlands, Texas 77380

Innovating Industrial 2018 Trends to Watch

Tony Creme

Fed Welch

BY BRANDI SMITH

When it’s built out to its full potential, a 350-acre joint venture between Hillwood and T5 will offer 400 megawatts of data power.

“To put that in perspective, the entire DallasFort Worth data center market is about 400 megawatts,” says Hillwood’s Tony Creme. “We’re very excited about this and see a lot of potential in this new project.”

That property is part of AllianceTexas, the company’s 18,000-acre master-planned mixed-use community in North Fort Worth. Though it’s far from complete, the project is already home to more than 480 companies, which provide more than 48,000 jobs, including Facebook.

“This is the gift that seems to keep on giving,” Creme says of the social network’s data center.

The company has already invested $1.5 billion in

8

April 2018

the 150-acre campus, where Buildings I and II are online. Construction is underway on Building III and will start soon for Buildings IV and V. These projects offer an example of why Dallas-Fort Worth can boast the hottest industrial market in the country. Closing out 2017, the Metroplex was No. 1 in space under construction (for a fourthconsecutive year), as well as net absorption (for a second-consecutive year).

“That’s a very exciting stat,” says Creme.

According to CBRE, 2017 deliveries totaled 26.8 million square feet, “breaking the record set last year for annual construction completions.” It’s a fraction of the 96.6 million square feet delivered

“These projects offer an example of why Dallas-Fort Worth can boast the hottest industrial market in the country”.

– Tony Creme

since 2010, but Creme predicts there will be less than 10 million square feet of new starts in DFW this year.

HOUSTON

DALLAS-FT WORTH

VACANCY

5.4% 6.4% 9.7% 9.9% 7.5%

COMPLETIONS

570,056 SF

7,923,937 SF

SAN ANTONIO

359,251 SF

AUSTIN

EL PASO

305,080 SF

115,000 SF

“We’ve got 20 UNDER CONSTRUCTION 8,463,297 SF 19,157,532 SF 916,781 SF 1,126,424 SF 771,500 million square feet currently under construction. I NET ABSORPTION 1,022,612 SF 4,547,505 SF 160,082 SF 358,793 SF 100,023 SF think once that stops, developers *4Q 2017 data provided by CBRE are going to pause for just a minute petrochemical, the Economic Alliance Houston Port properties. Those include Plastipak (274,417 SF) to take a look at the market and see if there’s a Region works with 12 communities and more than and Palmer Logistics (231,875 SF) moving into need,” he says. “So I think you’ll see less than 10 230 private industries with business along the 25Pasadena’s Bayport North Industrial Park. The Bay million square feet of shovels in the ground this mile Houston Ship Channel.

Area Business Park, also in Pasadena, signed new year.” tenants to 153,655 SF and 120,120 SF spaces as well.

“Many of our companies are involved in the DFW accounted for more than half the new petrochemical industry, either in manufacturing The growth isn’t expected to slow. The American industrial construction in Texas, but the state or supplier distribution,” says Fred Welch, the Chemistry Council estimates the industry will overall had an above-average year. Houston’s non-profit organization’s vice president of bank $100 million in new investments over the only delivered 570,056 square feet of industrial economic development. “The American Chemistry next four or five years. As the Gulf Coast accounts development in 2017, but CBRE says it is “well Council has indicated there was somewhere in for about a third of the output in the chemical positioned entering 2018.” the neighborhood of about $40 billion worth of industry, Welch hopes the port region will get a The Port of Houston and the petrochemical growth in the downstream chemical industry “proportionate investment.” industry are hugely responsible for that. They’re between Beaumont and Corpus Christi. Of course, The whole of the Houston metro area, not just the “expected to remain strong performers,” according a great deal of that happened right here in our port region, benefits from that growth as most to CBRE, as they’ve offered major growth for the Houston region.” petrochemical jobs have a considerable multiplier region even as the oil market slumped.

New leases back that up. In the last quarter of effect.

To capitalize on the expected growth in

2017, four of the Top 5 deals were for Port-area

Continued on Page 10 > April 2018

9

Innovating Industrial 2018 Trends to Watch

< Continued from Page 9

“Each one accounts for approximately 5.5 jobs in the region. Those are folks who may work in anything from maintenance, to supply chain, to hospitality,” says Welch. “That’s a very good number, so we’re excited about that.”

Transportation and distribution space represents a significant chunk of port-area businesses, which is representative of the state as a whole. In 2017, Texas leased 13,451,717 square feet for transportation/ distribution/logistics use.

Zooming in on individual markets, it’s an industry that is a driving force in El Paso. More than half of activity there in 2017 came from transportation/ distribution/logistics.

On the statewide list, wholesale (8,012,736 square feet) and food and beverage manufacturing/ processing (3,964,951) rounded out the Top 3 industries. No. 4: e-commerce.

Commercial real estate industry and e-commerce have a difficult relationship. While online business is partially to blame for more than 8,000 store closings last year, which hits the retail market, it’s also bolstering business on the industrial side.

“Every $1 billion of ecommerce sales requires 1.2 million square feet of industrial product,” says Creme.

“I think this is a big reason why the industrial market has been so hot for so many years and will continue that trend going forward.”

10

April 2018

As a result, the price of industrial land in the U.S. has doubled and sometimes tripled, depending on whether you’re looking at larger first-mile sites (which went from $1/SF to $3.25/SF) or urban infill last-mile sites (which went from $2.50/SF to $6.25/SF).

In Houston, companies such as Amazon, UPS and FedEx have made multi-million square-feet investments.

Another trend on the industrial side is redevelopment of obsolete space. Creme offers up what used to be the Six Flags Mall as an example.

“NorthPoint Development bought the site and demolished [the mall]. They’re under construction on two buildings of 600,000 square feet each, which General Motors will lease,” he says.

According to Creme, GM will sublease portions of those buildings out to their suppliers, so they can have just-in-time inventory for their assembly plant just down the road.

“It’s a pretty shrewd project and another example of these redevelopment deals happening around the Metroplex,” he adds.

It looks like 2018 will be another banner year for industrial development in Texas, led by the Metroplex, but keep an eye on those trends: data, transportation/logistics, e-commerce and redevelopment.

28th Annual

Outlook

for

Texas Land

Markets

April 26–27, 2018 • Omni Hotel at the Colonnade • San Antonio, Texas The 28th Annual Outlook for Texas Land Markets provides information on a variety of legal, economic, social, and natural resource issues influencing current land market dynamics.

Conference Underwriter

|

Conference Sponsors

Register Online www.recenter.tamu.edu/register

Media Sponsor:

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Catching Up With Creech The man behind Stan Creech Properties

Stan Creech

BY BRANDI SMITH

Here’s the thing about Stan Creech: he’s a talker - in the best way. Not the annoying I-can’t-wait-until-this-person-pipes-down person who jabbers incessantly, but the kind you could listen to for hours on end. He’s well-versed in seemingly any topic, but he just might know more about Houston real estate than anyone else in the game.

That knowledge dates back to 1971, the year Creech graduated from the University of Texas law school.

Yes, law. He says it didn’t take him long to realize that wasn’t going to be the career path for him.

“I talked to a couple of law firms, but I needed more interaction with people. I like reading them and negotiating with them,” Creech says. “To me, that’s the most fascinating thing about meeting people: figuring out how to negotiate with them.”

Though he certainly expressed an interest in psychology, real estate grabbed Creech’s attention while he

“That probably was the most fun I’ve had on a sale and it probably got me the most business” – Stan Creech on sale of 25 acres at Westheimer & Voss 14

April 2018

was playing Champions Golf Club in Houston, where he was the youngest member.

“I met Jack Burke and R.T. Marshall, who invited me to lunch. I went to his office and he pointed at a desk and telephone. He said, ‘Stay and try it for 30 days and see if you like it,” Creech recalls. “Well, 46 years later, I’m still here, so I did like it!”

He says he had no idea what he was doing beyond calling land owners, some of whom would tell him, ‘Mr. Creech, I’ve got 100 acres and I’ll take $1 million for it.’

“I thought, ‘Wow, this is fun,” Creech laughs.

The deal he says tops his list is one of four he’s done along Westheimer Road that topped $50 million. In the 1970s, he sold 25 acres at the corner of Westheimer and Voss for Dr. Denton Cooley, whose letter of thanks still hangs in Creech’s office.

“That probably was the most fun I’ve had on a sale and it probably got me the most business,” he says.

Though the career path was certainly a detour from law, he says he should have known he was headed into real estate. He made the highest grade in his Real Estate Property class.

“I remember the most important thing from that class is that every piece of property, every piece of land is unique; no two pieces of land are alike,” says Creech.

In the same way, very few land brokers are alike, but Creech has managed to stand out. When he left R.T. Marshall in 1980, he formed Stan Creech Properties and has essentially been a one-man show ever since.

Continued on Page 16 >

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New RetailCommercial 19 BRIAR HOLLOW LANE

• HOUSTON, TEXAS 77027

Brazos Town Center

GALLERIA AREA 90

99

TEXAS

762

1,974 SF & 3,103 SF or Combine to 5,077 SF

11TH AN ATTRACTIVE DISCOVERY D , TEx AS 77469 IN THE GALLERIA AREA FFICE S UITES

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• Great 1st floor spaces available in Post Oak Park.

• Proximity to several of Houston’s finest restaurants, hotels and neighborhoods.

• Great Galleria location without the Galleria traffic!

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• Proactive, hands on ownership since 1999.

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S u p p o rt S e r v i c e S B u S i n e S S g o v e r n m e nt , e d u c Ati o n , r etA i g r o w i n g r e S i d e nti A l B A S

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CALL D.A. SMITH - PORTFOLIO MANAGER/DIRECTOR OF LEASING PHONE (281) 493-4665 ext.108 EMAIL dasmith@briarhollowrealtygroup.com

“Every piece of property, every piece of land is unique; no two pieces of land are alike” – Stan Creech < Continued from Page 14

“Just recently, I've asked myself if I should go with one of these big companies. The answer is no,” Creech says resolutely. “I'm not a corporate personality. I don't need anybody to tell me to get up early in the morning and stay late at work.”

He says some clients believe a larger firm with international contacts will be better equipped to sell their land, but that assumption is just plain false.

“The best buyers are in Houston, Texas because Houston is one of the leading real estate developer cities in the nation,” says Creech. “Ninety percent of the time, they’re going to sell it to someone in Houston who I’ve known and closed deals with for 40 years.”

Another reason Creech doesn’t mind staying small (in operations, not in transaction prices) is that’s how things were done when he got his start. He describes real estate companies then as small independents with two or three people on staff.

During that era, most land transactions were done by syndication: a small group of investors who would put together a deal to buy a property and hawk it for a profit. Little to no interest was to the ultimate and best use of the land, says Creech.

“Nobody cared. Did anyone do a land plan? Did anyone check out drainage, utilities or flooding? Generally speaking, no,” he says. “Everybody was making so much money, no one asked any questions.”

Those decisions have had very real fallout in the past few years as flooding has devastated some parts of the city Creech has called home since he was 12.

16

April 2018

“In the ‘70s and ‘80s, a lot of people were in the real estate business who did not understand it and should not have been in it,” he says. “The issues developing today are bringing the pros to the table.”

That has made it more challenging and expensive to get land ready for development, Creech admits, but he says demand for land is as strong as ever. He attributes some of that demand to Houston’s lack of zoning. Creech says it offers a kind of freedom when you’re selling a property. He says the parcel where you see a house going in may be a better fit for a 50-story office building.

“We never price our property. We put it out, present it to all the major buyers and see which one wants to do the highest and best use of it,” says Creech. “I think not having zoning is one of the keys to Houston's success.”

Politically, he admits, the lack of zoning can be a double-edged sword, but he says the policy has

more advantages than disadvantages.

“Houston's done quite well,” he summarizes.

So has Creech in his more than four-decade career selling land in the fourth-largest city in the country, which he predicts will eventually take the top spot on that list.

“We're the only city that has no physical boundaries.

There's no river, no hills, no oceans. We can grow in all directions forever,” he says. “I think growth provides a lot of opportunities and the pluses outweigh the minuses.”

Though he acknowledges it will take time to edge out New York City, he hopes to still be around - and doing land deals - when that time comes.

“After 40 something years to get to this point, why retire? Why quit? I love it,” he says, his voice full of joy. “If you love it, keep doing it.”

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RICHARD G. ANDERSON | 713.597.4025

AndersonRA.com

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

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

372 surface parking spaces available

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• Close to Memorial

Medical We will haveHermann a booth at ICSC RECon and Center will be distributing thousands of extra • 36,340 SF with May 2018 frontage on issues there St. Mary’s Road

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36,340 SF

•

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•Walking distance to hotels for out of towners •Numerous restaurants •Close to Memorial Hermann Medical Center

Reserve Your Space Now! 713.661-6300 ginger@rednews.com www.rednews.com

•••

HILTON GARDEN INN

SITE •HOTELS •RESTAURANTS MEMORIAL HERMANN MEDICAL CENTER

Robert C. Watson Associates, Inc. Robert C. Watson, CCIM 713-465-3100 Cell: 281-723-3180 rcwatsonre@gmail.com

GReenberg & Company Commercial Real Estate Brokerage Firm

Retail | Office/Warehouse Available GREENWAY PLAZA

PRIMARY HARD CORNER

3815 Richmond Ave | Houston TX 77057

12836 Westheimer Rd | Houston TX 77077

8201 W Sam Houston Pkwy | Houston TX 77072

RETAIL SPACE AVAILABLE • Excellent Location • Major Thoroughfare • Greenway Plaza/Upper Kirby Area

OFFICE/WAREHOUSE | NEW DEVELOPMENT

PRIME INTERSECTION | PYLON SIGNAGE

Located just west of Beltway 8, North of Westpark Tollway and East of Highway 6. In close proximity to major retailers such as Target & Sam’s Club.

Building Size: 30,000 SF | Lot Size: 2.18 Acres

This is a single story free-standing building. Located on the southeast corner of the Sam Houston Tollway and Beechnut. Minutes from Downtown and 610 W Loop S. Building Size: 8,702 SF | Lot Size: 1.1 Acres

This is a multi-tenant retail shopping center that is located in the Greenway Plaza Area. It sits on the southeast corner of Richmond and Weslayan.

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• Great Visibility • Major Thoroughfare • Beechnut @ Beltway 8

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

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

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

Working well at The Work Well Caldwell Companies open coworking space

Miranda Hadamik

BY BRANDI SMITH

Just as the well was a gathering point in pioneer towns, longtime Houston firm Caldwell Companies hopes its new coworking enterprise, The Work Well, can bring people and ideas together.

“We want this to be the well where ideas are launched and your business takes flight,” says Miranda Hadamik, Caldwell’s vice president of investments.

The name came to William Hatfield, The Work Well’s community and workstyle director, in a kind of light bulb moment. It neatly wraps up all Caldwell hoped to convey: a connection to the company, how people will interact and a visual cue of a meeting place.

“We want you to work well, we want you to be productive and we want your business to grow into bigger and better things,” Hadamik says.

The Work Well celebrated its official grand opening at the corner of Highway 290 and FM 1960 in early March after softly opening in December 2017.

It offers 71 private offices on the top floor in a Class-A, LEED-silver building. The facility, which is fully furnished, boasts a list of amenities such as a coworking lounge catered by Katz Coffee, several community areas, four meeting rooms and onsite concierge.

“Leasing is ahead of schedule,” says Hadamik. “We have brand new people walk in the door every day, just thrilled to have this type of product in the Cypress area.”

The decision to launch a coworking space wasn’t something Caldwell took lightly. Hadamik says the fully integrated real estate firm, which specializes in development, investment, brokerage services and property management, spent years researching the concept.

“Caldwell's always looking for the latest design trends to stay relevant and serve our community, so we keep an eye on the latest technology and everything else,” Hadamik says. “We heard from a lot of clients who are looking for this type

20

April 2018

of product. Opening The Work Well really was answering a need, rather than simply jumping into something new.”

The space, which is geared to be flexible for whatever members need, is one where almost anyone could work, though entrepreneurs, telecommuters, freelance professionals and creative digital marketers are part of the focus.

“We are targeting anyone who needs their own space,” says Hadamik. “Everybody knows somebody who needs an office, a meeting room, an event space or just a professional address. We offer all those services.”

She adds that The Work Well is eager to work with end users and brokers who have space-challenged clients.

“This could be a really good fit for them because, especially in our market, you can't find 500 square feet or that small office that you need,” Hadamik says.

Another possibility she suggests is for a company with its own facility to use The Work Well as a kind of off-site project area. Teams tasked with anything from a creative project to a research effort can work independently away from the typical office, returning to the corporate office to present their findings.

The possibilities within The Work Well, says Hadamik, are endless.

“This is a place where people of a variety of backgrounds can come together and create something better. Instead of being siloed off by themselves, they can come here and have that community they are looking for.”

For more information about The Work Well, visit TheWorkWell.com.

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ADDRESS

6.8 35.15 5.6 5.49 3.18 1.03 7.1 1.06, 1.1, .81 7 15 21 9.18 4.25 25 19.82 6.04 13.5 9.26 6.53 6.2 10.35 15 3.88 1.3 3.3 4.94 1.5 18.5 31.22 55 9.69 2.43 1.13 2, 5

FM 1486 505 FM 1486 16836 FM 1488 Rd FM 1488 Rd 310 Corporate Woods Dr 33035 Tamina Rd FM 1488 & Wedgewood Dr 32946 Research Forest Dr 2615 Fm 1488 105 FM 1488 Rd 29614 Highland Blvd 30045 FM 2978 Rd 29536 FM 2978 29135 FM 2978 28323 FM 2978 Rd 8420 Standard Rd 27126 Conroe Huffsmith Rd 26823 FM 2978 26818 Dobbin Huffsmith Rd 26603 FM 2978 26410 Hufsmith Rd 26822 Kuykendahl Rd 26205 FM 2978 25306 Hufsmith-Kohrville Rd 9322 Hufsmith Rd 25910 Haven Lake Dr 25200 Gosling Rd Hwy 249 & Brown Rd Hwy 249 & Brown Rd FM 2920 & 2978 1717 S Cherry St Nichols Sawmill Rd 1314 West Riley Fuzzel Rayford/Foster

CITY

ZIP

Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77353 Magnolia 77354 Magnolia 77354 Magnolia 77354 The Woodlands 77354 Conroe 77384 Conroe 77384 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Magnolia 77354 Spring 77389 Magnolia 77353 Tomball 77375 Tomball 77375 Tomball 77375 Spring 77389 Tomball 77375 Tomball 77375 Tomball 77375 Tomball 77375 Magnolia 77375 Spring 77373 Spring 77386

BROKER Diana Gaines Diana Gaines Jeff Tinsley Zach Armstrong Linda Crumley Jeff Beard Diana Gaines Lindsey McKean Jeff Beard Diana Gaines Diana Gaines Jeff Beard Zach Armstrong Jeff Beard Zach Armstrong/Ryan Hutson Diana Gaines Diana Gaines Diana Gaines Diana Gaines Brett Tynes Diana Gaines Jeff Beard Ryan Hutson Diana Gaines Diana Gaines Jeff Beard Brett Tynes Zach Armstrong Zach Armstrong Zach Armstrong Diana Gaines Diana Gaines Diana Gaines Rosa Dye

10077 GROGANS MILL ROAD | SUITE 135 | THE WOODLANDS, TEXAS 77380 JBEARDCOMPANY.COM | 281-367-2220

SPRING

DEVELOPMENT

ACREAGE / USE

A

Woodard Tract

5,900 AC

Residential

B

Woodhaven Estates

2,732 AC

Mixed-Use

33

HOMES / LOTS 1,600 - Phase 1 564 Homes/Lots

C

Magnolia Woods

593 AC

Residential

500 Homes

D

Escondido Ranch

151 AC

Mixed-Use

572 Homes

E

Mustang Ridge

74 AC

Residential

240 Homes

F

Glenn Oaks (ongoing)

699 AC

Residential

548 Lots Available

G

Magnolia Ridge

H

Magnolia Audubon

I

Magnolia Reserve

169 AC

Residential

216 Homes

J

Karen Switch Reserve

174 AC

Residential

215 Homes

K

Mills Creek

163 AC

Residential

L

Magnolia Commons

479 AC

Residential

2,600+ AC

Residential

400,000 SF

Retail/Mixed-Use

M

Reynolds Reserve

107 AC

Residential

N

Former Buck Grass Stables

32 AC

Commercial

O

Halberdier Business Park

46 AC

Mixed-Use

P

Black Oak

300 AC

Residential

Q

North Grove (Toll Brothers)

600 AC

Residential

570 Homes 1,100+ Townhomes 240 Homes

FOR MORE INFORMATION ON THESE PROPERTIES OR TO LIST YOUR PROPERTY WITH US CALL

281-367-2220

Stop Spinning Your Wheels!

Let Us, Your TEXAS Environmental Consulting Firm, Help You Navigate Through Your Environmental Risks.

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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

APRIL FEATURE: BACREN LUNCHEON

BACREN Luncehon Live CCIM Case Study 3-15-18 L to R Pius Leung, Randy Drake and Bob Watson

Central South Texas

North Texas

Southeast Texas

CENTRAL SOUTH TEXAS

April MONDAY CCIM Central Texas C101 Course [7:00am 5:00pm]

TUESDAY 2

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

WEDNESDAY 3

REDNews Newsletter [4:00pm]

ULI San Antonio Annual Golf Tournament [11:30am -7:00pm]

9

REDNews Newsletter [4:00pm]

CREW Austin Recruitment Happy Hour FREE! [5:30pm -7:30pm]

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

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

THURSDAY 4

FRIDAY 5

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

ULI San Antonio - YL Regional Forum/Fort Worth [8:00am -5:00pm]

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

BOMA Austin - Annual Golf Tournament [8:00am 5:00pm]

11

10

12

BOMA - Southwest Conference/Corpus Christi [8:00am 5:00pm] BOMA Austin - SMA/SMT Course [8:00am - 5:00pm]

ULI San Antonio - YL Regional Forum/Fort Worth [8:00am -5:00pm]

BOMA - Southwest Conference/Corpus Christi [8:00am -5:00pm]

6

13

REDNews May Issue Deadline [5:00pm]

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

REDNews Newsletter [4:00pm]

16

CTCAR - Estate Planning & Probate [9:00am -11:00am]

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17

BOMA Austin - Session III Building Operations 1 [8:00am - 5:00pm]

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19

CTCAR - Commercial ReTooled [9:00am - 4:00pm] CBA Austin - Annual Golf Tournament [12:00pm 7:00pm]

REDNews Newsletter [4:00pm]

CREW San Antonio - 25th Annual CREW Forum[10:30am -4:00pm]

23

CCIM Central Texas - Luncheon [11:30am -1:30pm]

24

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

25

BOMA Austin - Board Meeting

26

TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

BOMA Austin - AAFAME Chili Slam [8:00am -5: 00pm]

27

TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

30

REDNews Newsletter [4:00pm]

24

March 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.

CREW AUSTIN

CENTRAL SOUTH TEXAS SOCIAL CTCAR AUSTIN

Board of Directors

CREW Austin Board of Directors

CREW SAN ANTONIO

CTCAR Governmental Affairs Committee including Bob Springer, Teresa Shell, V. Bruce Evans & Lisa Moguel

CTCAR Governmental Affairs Committee including Bob Springer, Teresa Shell, V. Bruce Evans & Lisa Moguel

L to R: Angela Dunkle & Destini Cavazos Dimensions Contracting; Dena Welch Highland Resources, Inc; Katherine Howe Frilot Wells Fargo

Angela Dunkle & Destini Cavazos Dimensions Contracting;Dena Welch Highland Resources, Inc;Katherine Howe Frilot Wells Fargo

L to R: Economist Dr. Jim Gaines; CREW SA President, Dena Welch

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: scr-fw.org IREM DALLAS: irem-dallas.org IREM FORT WORTH: fortworthirem.org

NORTH TEXAS

April MONDAY REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

TUESDAY 2

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

WEDNESDAY 3

9

10

16

17

THURSDAY 4

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

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

FRIDAY 5

NTCAR - 2nd Quarter Meeting [7:30am - 9:30am]

ULI North Texas - YL Regional Forum/Fort Worth [8:00am 5:00pm]

11

18

CCIM North Texas - Lucheon [11:30am 1:00pm]

12

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

19

ULI North Texas Urban Summit [7:30am - 10:00am] IREM Fort Worth - Crisis Management Throwdown [11:30am - 1:00pm]

Greater Ft. Worth Assoc. of Realtors - SCR Commercial Trade Expo [3:00pm 7:00pm]

REDNews Newsletter [4:00pm]

23

24

CCIM North Texas Marketing & Promotion 101 [9:00am - 5:00pm]

25

ULI North Texas - Women's Leadership Initiative [4:00pm - 5:30pm]

TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

26

ULI North Texas - YL Regional Forum/Fort Worth [8:00am - 5:00pm]

REDNews May Issue Deadline [5:00pm]

ULI North Texas Earth X 2018 Expo [8:00am - 5:00pm]

6

13

20

ULI North Texas/REC of Fort Worth - A Walkable Future [7:30am - 10:00am] REC of Fort Worth - Member Get Together [5:00pm 7:00pm]

TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

27

REC of Dallas - FightNight 30 [6:30pm - 10:00pm]

REC of Fort Worth - Annual Meeting [5:30pm - 8:30pm]

REDNews Newsletter [4:00pm]

26

30

April 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.

CCIM NORTH TEXAS

NORTH TEXAS SOCIAL ULI NORTH TEXAS

CI 101 Class taught by Mac McClure and Susan McClure in February at Addison Conference Center FEBRUARY HAPPY HOUR AT MESERO

Tour of M-Line Tower on February 21st WOMEN LEADERSHIP INITIATIVE GROUP L to R: Jason Wingert, Carole Tam, CCIM, Dan Newell, CCIM, Ben Deal and Jason Baker CCIM North Texas February Happy Hour at Mesero â&#x20AC;&#x201C; Jason Wingert, Carole Tam, CCIM, Dan Newell, CCIM, Ben Deal and Jason Baker

Speaker Natalie Fletcher (Director of Innovation at the Dallas Regional Chamber) on February 13th.pdf

L to R: Chris Garrick, JJ Williams & Ashley Glover

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

April MONDAY

TUESDAY

WEDNESDAY 3

2

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

CREW Houston - 17th Annual Golf Classic [11:30am - 4:00pm]

9

REDNews Newsletter [4:00pm]

IREM Houston Golf Open [11:00am - 6:30pm]

10

CORENET - Redefining Our City Center [7:30am - 9:00am] Kristen McDade Spring Golf Challenge [7:30am 5:00pm]

16

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

THURSDAY 4

BOMA HoustonFoundations of RE Management [8:00am - 5:00pm]

11

BOMA Houston HCAD Meeting [9:00am - 10:00am]

CREW Houston Distinguished Leaders Dinner [5:00pm - 8:00pm]

18

REDNews Newsletter [4:00pm]

Evelyn Rubenstein JCC Charity - Annual Golf Tournament [11:00am - 5:00pm]

23

REDNews Newsletter [4:00pm]

REDNews Newsletter [4:00pm]

28

24

BOMA Houston BAC PAC Sporting Clays Tournament [11:30am - 4:30pm] IREM Houston - Programs Committee Meeting [12:00pm - 1:00pm]

FRIDAY 5

ULI Houston - YL Regional Forum/Fort Worth [8:00am - 5:00pm] IREM Houston - Networking Committee Meeting [4:00pm - 5:00pm]

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

17

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

25

ULI Houston Suburban Marketplace [7:30am - 5:00pm]

6

ULI Houston - YL Regional Forum/Fort Worth [8:00am - 5:00pm]

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

12

REDNews May Issue Deadline [5:00pm]

13

ULI Houston - UrbanPlan for Public Officials [8:00am - 4:30pm]

BACREN - Luncheon [10:30am - 1:00pm] CCIM Houston - 2018 Energy Conference [12:00pm - 2:00pm]

19

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

20

IREM Houston - Education Committee Meeting [11:30am - 12:30pm]

26

ACRP Houston - Breakfast [7:00am - 8:30am] IREM Houston - Executive Council Meeting [3:30pm 4:30pm] CREN Gulf Coast - Happy Hour [4:30pm - 8:00pm] TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

TX A&M Real Estate Center - Texas Land Markets/San Antonio [8:00am -4:00pm]

27

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April 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.

BACREN

SOUTHEAST TEXAS SOCIAL

L to R: Cindy Mach and Ramona Little

IREM HOUSTON GOLF OPEN 2018

L to R: Randy Drake, Lisa Kurrass, Pius Leung, Bob Watson

IREM HOUSTON EVELYN RUBENSTEIN JCC HOUSTON

erjcchouston.org

30th Annual JCC Charity Golf Tournament Underwritten by

L to R: Laura Krupowicz, CPM and Greg Sherman, CPM with Brookfield enjoy networking with Brian Duckro, Spark Lighting and Veronica Gutierrez, Brookfield

IREM Houston (left to right) Laura Krupowicz, CPM and Greg Sherman, CPM with Brookfield enjoy networking with Brian Duckro, Spark Lighting and Veronica Gutierrez, Brookfield

Monday, April 23, 2018 Check-in & Lunch: 11:00 AM Shotgun Start: 1:00 PM BlackHorse Golf Club For information or to reserve your spot, contact Rene Kariel at 713.595.8168.

IREM Houston 2018 President Stephanie Swanson, CPM with Guest Speaker Bill Brown, Astros Ambassador and longtime Sportscaster

OTHER SIGNIFICANT SPONSORS: REDNews; Wilson, Cribbs+ Goren; Colliers International; First American Title Company National Commercial Services; Fidelity National Title National Commercial Services; Frost Bank; Title Houston Holdings; Butler-Cohen; Duplantis Design Group; South Texas Surveying Associates; Craddock Massey, LLP; Hirsch & Westheimer, P.C.; Jerry Goldstein/Marcus & Millichap; Phase Engineering

CENTRAL SOUTH TEXAS bulletin

AUSTIN, TX HOSPITAL SITE REDEVELOPMENT Wexford Science & Technology LLC has pulled out of a redevelopment of the former 14.3 acre Brackenridge campus between Waller Creek Park & I35. Central Health, the owner of the property, is considering other uses including UT at Austin leasing two of the six blocks for expansion of its nearby Dell Medical School.

MIXED-USE STUDIO DEVELOPMENT Shady Lane Creative Studios will be a 64,674 sf creative studio, retail & possibly art gallery space located at 1141 Shady Lane. The project will include three live/work studios, a three-story structure for the design firm’s office & a restaurant. The property is part of a 24-acre masterplanned development known as “thinkEast”.

AUSTIN, TX AMAZON BOOK STORE LEASE Amazon Books has opened its first book store location in Texas at 11700 Rock Rose Avenue in the Domain. Only online bestsellers, new books & books with at least four star ratings are sold. Amazon could eventually open up to 400 book stores in the US.

CORRECTION TO APRIL 2018 ANNOUNCEMENTS: Our apology to Doug Swanson! Last month we had the wrong photo associated with his names & new position.

Doug Swanson has joined Turcotte Real Estate Service’s brokerage & leasing team.

MULTI-FAMILY DEVELOPMENT Austin-based apartment developer Oden Hughes LLC is building a 300-unit apartment complex at I35 Foremost Drive between S. Congress & I35. This is the developer’s sixth multi-family development in south Austin.

MULTI-FAMILY DEVELOPMENT StreetLights Residential purchased 8.5 acres within Austin Presidio northeast of SH 45 & North Lake Creek Parkway for the development of a 373 unit multi-family project.

The development is scheduled for completion in early 2020.

OFFICE LEASE Senseye, Inc leased 5,442 sf at 801 Congress Avenue. Carl Condon & Brian Riazzi of Avison Young represented the tenant & Brent Powdrill of JLL represented the landlord.

OFFICE SALE Dallas-based Lincoln Property Company sold the two-building, 168,923 sf Lantana Ridge office complex at 7601 Southwest Parkway to Dallas -based Ramrock Real Estate LLC. The buildings are fully leased to Yeti, a maker of outdoor & recreational products

CANYON, TX ACADEMIC BUILDING DEVELOPMENT The Texas A&M University System Regents is building a $22.8 million veterinary building for their West Texas A&M’s Agricultural Sciences Josh Welch , Todd Mahler & Stephen Wentworth have joined NAI Partners in Austin.

30

April 2018

Complex. The building is part of almost $90 million in new commitments to the state industry on the WTAMU campus.

completion of the second & third phases are projected by December 2022.

CEDAR PARK, TX

EFFECTIVELY VACANT LAND SALE CPS Energy, the San Antonio utility company, purchased a 14acre site for $6.8 million at 3330 Cherry Ridge Drive for the purpose of consolidating their multiple worksites. The tract was formerly utilized as a Malibu Grand Prix & Castle.

MIXED-USE DEVELOPMENT Thompson Morris Real Estate Development is planning to develop Indigo Ridge North, a 126 acre tract at the northwest corner of East Whitestone Blvd (FM1341) & Sam Bass Road (CR 175). Plans include 100,000 sf of restaurants/ entertainment, 320,000 sf of office, 120 high-rise condominiums, 1050 apartment units & hundreds of hotel rooms. About 1 million sf more of mixed-use development is also proposed on land just to the west.

CORPUS CHRISTI, TX ETHANE CRACKER DEVELOPMENT Preliminary site work is underway for the world’s largest ethane cracker facility in Corpus Christi which is a joint venture between Exxon & Saudi Arabian Basic Industries Corp.

The project will have an estimated $11.3 billion direct economic impact for the region over the next ten years.

HARLINGEN, TX DISTRIBUTION CENTER DEVELOPMENT Philadelphia-based Cardone Industries is finalizing the construction of a 920,000 sf distribution center within Harlingen Industrial Park. The facility should open operations this summer.

KILLEEN, TX FITNESS CENTER LEASE Crunch Fitness leased 27,587 sf in Wendland Plaza located at 901 S. Fort Hood Street. It is projected to open by fourth quarter 2018.

NEW BRAUNFELS, TX MIXED-USE DEVELOPMENT Solms Landing, a 98-acre mixeduse development located at FM 306 between I35 & FM 101 is in the planning stages. The development is proposed to have 510 homes, two hotels & 295,000 sf of retail space.

PHARR, TX COLD STORAGE DEVELOPMENT Evergreen Cold Storage is building a 283,200 sf cold storage facility on Hi Line Road close to the Pharr International Bridge. The first phase includes 117,000 sf & should be completed December 2018. Final

SAN ANTONIO, TX

EFFECTIVELY VACANT LAND SALE The San Antonio ISD sold approximately 5 acres in four tracts located at 620 Matagorda, 211, 215 & 141 Lavaca for $14.5 million to Broadway SA Investors, the real estate arm of Silver Ventures who redeveloped the Pearl Brewery.

The tracts are just south of Hemisfair & include historic buildings. Plans for the property are not known.

MULTI-FAMILY SALE PEM Real Estate Group purchased the 311-unit apartment complex, Legacy Flats, located at 10418 Shaenfield Road. The project was built in 2016 & includes a pool, dog park & fitness center.

MULTI-FAMILY SALE San Antonio-based Kairoi Residential, purchased four apartment projects from Beverly Hills-based Omninet Capital. The projects include the 477-unit Parkvista, the 188-unit Pearl Park, the 304-unit Diamond Ridge and the 241-unit Somerset. Three of the projects are near NW Loop 410 & The Medical Center & the Parkvista is near Lackland Air Force Base.

TOWNHOUSE DEVELOPMENT SOJO Urban Development has broken ground on a 27-unit brownstone townhome style development called SOJO Commons located between West Grayson St. & East Locust St. It is within walking distance of the St. Mary’s Strip & Pearl

SEGUIN, TX RESIDENTIAL DEVELOPMENT Arroyo Ranch, a single family residential development is breaking ground along FM 725 adjacent to Vogel Elementary School on 267 acres. The project will ultimately have up to 1,102 residential homes with the first phase of 200 homes scheduled to deliver by December 2018.

ALLEN, TX FLEX SPACE LEASE Global Life & Accident Insurance Company leased 10,035 sf at 1305 N. Watters Road. Bruce Hecht & Ben Goldthorpe with Swearingen Realty Group represented the tenant & Josh Barnes & Ben Wallace of Holt Lunsford represented the landlord, Gateway Industrial.

BLUM, TX MANUFACTURING FACILITY DEVELOPMENT DynaEnergetics, a supplier of oilfield products & an affiliate of Coloradobased metalworking firm DMC Global Inc, is constructing a 57,000 sf manufacturing facility at 3580 HCR 1145 Loop North. It is scheduled for completion this summer.

COPPELL, TX WAREHOUSE/DISTRIBUTION SALE Irvine, CA-based LBA Realty purchased 578,400 sf including two warehouse & a distribution facility located at 500 & 510 Airline & 217 Wrangler Drive. The buyer has the ability to add another 102,400 sf at 400 Airline. John Huguenard & Dustin Volz with JLL handled the transaction.

CORSICANA, TX DISTRIBUTION FACILITY SALE Solo Cup/Dart Container purchased a 1,453,615 sf, former Home Depot distribution facility at 2200 S. Business 45 from New York Citybased Eliken Property Management.

The facility includes 13,248 sf of office space. Holmes Davis of Binswanger represented the seller.

DALLAS, TX CO-WORKING SPACE Houston-based The Work Lodge will open 31,000 sf of co-working space which will ultimately include more than 100 offices suites. The space is located off I-35 & Oak Lawn Avenue in the Dallas Design District.

DISTRIBUTION FACILITY SALE Keller Logistics sold a 472,284 sf, rail-served distribution facility at 2020 Singleton Blvd. to 2020 Singleton Blvd. LLC. Colliers International represented the buyer & seller in the transaction.

INDUSTRIAL LEASE AM Linen Service LLC dba Linen Rental leased 12,900 sf at 2623 Brenner Drive from Knopf Family Limited Partnership. Kennan Cook with Mercer Company handled the transaction.

INDUSTRIAL LEASE LS Elite, LLC leased 30,480 sf at 2655 Freewood Drive from Keith & Ben

Properties, LLC. Ryan Boozer & Todd Poticny of Stream Realty represented the landlord & David Guinn of Mercer Company represented the tenant.

INDUSTRIAL LEASE Sunrise Wood Designs LLC leased 135,405 sf at 8801 Autobahn Drive.

Michael Chiocca of CBRE represented the tenant & Canon Shoults & John Gorman of Holt Lunsford represented the landlord, TA Associates.

MANUFACTURING FACILITY SALE Polk Street Industrial purchased a 289,000 sf facility on 10 acres along with an additional 24-acres of leased property at 4949 Joseph Hardin Drive from Rob Hopton-Jones of Linron Properties. Dustin Volz, Zane Marcell & Grant Matthews of JLL represented the seller.

RIVER WALK PROJECT A bond election may be held in May to ask voters to approve nearly $250 million in bonds to help build Panther Island, an 800-acre island for a river walk project north of downtown.

The project is expected to cost $1.16 billion, including rechanneling the Trinity River to create the island.

Homes for several thousand residents would be built.

MIXED-USE DEVELOPMENT FORECLOSURE The $3 billion mixed-use project, Wade Park, located on the Dallas North Tollway & Lebanon Drive, has been posted for foreclosure due to non-payment of debt. Atlanta-based Thomas Land & Development is the developer of the project.

OFFICE DEVELOPMENT Dallas Cowboys owner, Jerry Jones’ real estate company, Blue Star Land, is reportedly planning to build three more offices building at The Star, ranging from seven to twelve stories tall.

RETAIL SALE An international investor purchased the 35,424 sf Preston Frankford Crossing retail center located at 18101 Preston Road. Michael Austry & Jared Aubrey with CBRE handled the transaction.

OFFICE LEASE E Smith Realty Partners, now known as esrp, is moving its Dallas headquarters & offices to The Star office building overlooking the Dallas Cowboys practice fields.

RETAIL SALE An international buyer group purchased the 16,200 sf Edinburg Plaza located at 2720-2758 W. University Drive. Jared Aubrey & Michael Austry with CBRE handled the transaction.

EULESS, TX OFFICE/AUTO SHOWROOM SALE NPR Properties LLC, the real estate affiliate of Excellent Auto, purchased the 34,000 sf office building & auto showroom at 1701 Airport Freeway near SH 182 & SH 121 for the purpose of expansion. Daniel Miller of Rubicon represented the buyer & John Bielamowicz of Biel Partners & David Little of David Little Real Estate represented the seller, Baillargeon Audi Dealership.

FORT WORTH, TX ACADEMIC BUILDING DEVELOPMENT Tarleton State University has started construction on the first phase of their Fort Worth campus with a $41 million, 76,000 sf academic building located just west of the Chisholm Trail Parkway. The campus includes 80 acres which was donated by the Walton Group.

bulletin

FRISCO, TX

MULTI-FAMILY DEVELOPMENT Dallas-based Mill Creek Residential Trust is building a 344-unit apartment complex at 5327 LBJ Freeway within the 430-acre Dallas Midtown project.

It will be Mill Creek’s second rental development in the area.

EDINBURG, TX

NORTH TEXAS

RETAIL LEASE Dallas Cowboys-started fitness concept, Cowboys Fitness leased 40,000 sf at Preston Towne Crossing at 4801 W. Park Blvd.

MCKINNEY, TX AIRPORT EXPANSION The City of McKinney purchased 190 acres of land at 1500 E. Industrial Blvd adjacent to McKinney National Airport for the purpose of airport expansion.

The seller was represented by Paul Whitman with JLL.

GRAPEVINE, TX MIXED-USE DEVELOPMENT Grapevine Main, a $105 million mixed-use development, has broken ground at Main St. & Dallas Rd. Upon completion the development will include a hotel, parking & a five story rail station for the new TEXRail commuter line. The rail station will include a market, entertainment & food hall, meeting spaces, offices & community event space. A 38,000 sf outdoor plaza will be used for events. TEXRail will be a 27-mile passenger train with stops in downtown Fort Worth, Richland Hills, Grapevine & Dallas/Fort Worth Airport. It is projected to start service January 2019.

Ross Sanders has joined HFF as a senior director of their national seniors housing group.

PLANO, TX OFFICE SALE Alexander & Baldwin sold the 198,759 sf, two-office complex at 1800 & 1820 Preston Park to a partnership between Libitzky Properties Companies & Sunwest Real Estate Group. Eric Mackey, Gary Carr, John Alvarado, Robert Hill, Evan Stone & Jared Chua of CBRE represented the seller.

WACO, TX INDUSTRIAL DEVELOPMENT Water hose maker Swan Products is investing $11 million in a facility at 700 Jewell Drive. The company makes garden, industrial & aeration hoses at its plant in Waco.

April 2018

31

SOUTHEAST TEXAS bulletin CORRECTION TO APRIL 2018 ANNOUNCEMENTS: Our apologies to the following gentlemen! Last month we had the wrong photos associated with their names & new positions.

Bruce Hurta has joined the SBA Lending Team of Fidelity Bank as an SBA Business Development Officer.

Russell Hodges has been appointed to lead JLL’s office leasing brokerage team.

Blake Anderson has joined Savills Studley as Co-Branch Manager & Southwest Regional Industrial Services Leader.

Grant Hortenstine of Avison Young won the NAIOP 2017 Industrial Rising Star Award

Jana Moore has been named Principal of Avison Young

BROOKSHIRE, TX INDUSTRIAL DEVELOPMENT MAN Diesel & Turbo has leased 137,434 sf in Twinwood, the business park located between Woods Road & FM 1489. The manufacturer will combine its two current operations in Houston & Deer Park at the new facility which should be complete second quarter 2018.

CLEVELAND, TX VACANT LAND SALE 3 Crescent Ranch LLC purchased 166.1 acres at 1431 Meekins Road from Habitat for Horses, Inc. Taylor Schmidt, Reed Vestal & Chris Nash represented the seller & Mehdi Mousavidin with 6M Real Estate Group represented the buyer.

HOUSTON, TX INDUSTRIAL LEASE BiSN Oil Tools, LLC leased 49,000 sf at 4514 Brittmoore Road. The landlord, Chapman & Cole, was represented by Preston Yaggi & Stephen Kuper with Lee & Associates & the tenant was represented by Travis Land & Nick Peterson with NAI Partners.

INDUSTRIAL LEASE HFJ Group, LLC leased 28,270 sf at 4553 Aldine Bender from 4553 Bender, LLC who was represented

by Mike Spears & Chase Cribbs of Lee & Associates. The tenant was represented by Richard Quarles with JLL. INDUSTRIAL LEASE TR Fastenings, Inc. leased 21,064 sf at 10811 Vinecrest from EastGroup Properties, Inc. The tenant was represented by Robert McGee with Lee & Associates & the landlord was represented by Logan Greer with InSite Commercial.

INDUSTRIAL LEASE Houston-based Leader Gasket Technologies, an international manufacturing & distribution company, leased the remaining 89,000 sf in DCT PetroPort Industrial Park located at 850 Sens Road.

Ryan Wasaff with The Welcome Group represented the tenant & Kelley Parker, Coe Parker & John Littman with Cushman & Wakefield represented the landlord.

MICROBREWERY/THEATER DEVELOPMENT Flix Brewhouse, a combination of movie theater & dine-in microbrewery is being developed in the Hub at Harvest Green, a 300,000 sf upscale entertainment destination located near the intersection of the Grand Parkway & W. Airport Blvd.

MIXED-USE DEVELOPMENT Levcor is redeveloping a 1960’s 66,000 sf red brick, dock-high

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April 2018

warehouse at 7800 Washington into retail, restaurant and office space. It is projected for completion by mid 2018.

OFFICE COMPLEX REDEVELOPMENT Lincoln Property Company is redeveloping the former Greenspoint Exxon office complex that they purchased last summer with H.I.G. Realty Partners. The six building complex has been renamed CityNorth and each building ranges between 250,000 sf – 460,000 sf. They plan to invest $100 million in redeveloping the interior & exteriors, landscaping & creating retail/restaurant offerings.

OFFICE LEASE Moscow-based Lukoil leased 5,900 sf in Kirby Collection located at Kirby & Lake Street. Chrissy Wilson & Bubba Harkins with JLL represented the landlord, Thor Equities.

OFFICE LEASE Immigration law firm Foster LLP is relocating from the Houston CBD to 23,049 sf at Three Greenway Plaza.

Steve Biegel & Jay Bonano with NGKF represented the tenant & J.P. Hutcheson with Parkway represented the landlord.

OFFICE SALE Arlington-based SkyWalker Property Partners, affiliated with When Opportunity Knocks LLC, purchased One Northwind Plaza, a 141,480 sf building located at 7600 W. Tidwell. Clint Holland of SkyWalker represented the buyer & Rudy Hubbard of JLL represented the seller, Aegon Asset Management.

OFFICE SALE Manhattan Life purchased the 151,835 sf office building at 13831 Northwest Freeway. The company also owns the 10777 Northwest Freeway building. NAI Partners handled the transaction.

OFFICE SALE Woodland Hills, CA-based Hertz Investment Group purchased the three-building Brookhollow Central for $70.5 million. The buildings are located at 2800, 2900 & 2950 North Loop West & include a total of 806,541 sf of office space. The seller was Miami-based Parmenter Realty Partners. In January Hertz purchased the 238,108 sf Westchase Park Plaza located at 11490 for $24 million.

RESTAURANT LEASES David Littwitz of Littwitz Investments leased 2,460 sf at 11177 Katy Freeway to Pizaro’s Pizza Napolentana; 2,473 sf to Fusion Eats at Nine Greenway Plaza, 1.1476 acre/4500 sf building ground lease at 851 Dairy Ashford & 4,500 sf at 2500 CityWest Blvd to Panera Bread.

RETAIL LEASE Chca Bayshore LP leased 5,625 sf of retail space at Beltway 8 & Wallisville Road from Schirenson Family LLC. Ashley Strickland of NewQuest Properties represented the tenant & Chace Henke & Micha Van Marcke of Transwestern represented the landlord.

SELF-STORAGE SALE Passco Cos. & Patriot Self Storage Management purchased the 54,000 sf self-storage facility at 4217 San Felipe The facility includes climate-controlled units as well as 1000 sf of wine storage.

HUMBLE, TX INDUSTRIAL LEASE Flexo Converters USA, Inc. leased 112,021 sf at 8575 Volta Road from Cypressbrook Huntington Volta LLC. Thomas Leger, Robert McGee & Mike Spears of Lee & Associates represented the landlord & Grady Tibbs with Brazos ML represented the tenant.

KATY/SUGAR LAND, TX MEDICAL BUILDING SALE An affiliate of global real estate investment firm Heitman LLC purchased two Sugar Land Medical Plaza buildings & two Katy Medical Plaza building as well as others throughout the US for a total of 1.4 million sf of medical office space which included three medical office buildings in San Antonio’s Westover Hills Medical Plaza.

PRAIRIE VIEW, TX CRICKET FIELD DEVELOPMENT Local businessman, Tanweer Ahmed, is developing an 84-acre cricket complex at US 290 & Liendo Parkway in Prairie View.

The land was purchased from Wolff Companies & will be used for between 12 to 14 cricket fields with the first field ready for play this month.

SEALY, TX CHEMICAL MANUFACTING FACILITY New Jersy-based Sika Corporation has opened its new 98,000 sf manufacturing plant on 40 acres at the intersection of I10 & SH36. The plant is the US arm of Switzerlandbased Sika AG. It will produce concrete, mortars & grouts.

SUGAR LAND, TX RETAIL DEVELOPMENT Vista Equities has started construction on a 108,000 sf expansion of University Commons across University Blvd & US 59 from the 155,000 sf first phase. Phase II is expected to be completed December 2018.

ADVERTISER INDEX

classifieds & index

A. A. Realty Company 18

Homeland Properties, Inc. 13

Anderson Realty Advisors 17

National Environmental Services, LLC 35

Berkadia 3

Phase Engineering 22

Briarhollow Realty Group, Inc. 15

Plus Corp Photography 26

Brooks Commercial Properties 13

Robert C. Watson Associates, Inc. 19

Caldwell Cos. 1, 2

Stream Realty Partners 11

City Bank Texas 36

Texas Coastal Realty, LLC 17

Equity Secured Capital, LP 17

The J. Beard Real Estate Company 21

ERJJ 29

The Signorelli Company 5

Four Points Investments 15

Veritas Title Partners 7

Greenberg & Co. 19

Waller County EDC 17

Hankamer Commercial Brokers, LLC 17

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North Texas CCIM Chapter

April 2018

33

ray’s buzz

BY RAY HANKAMER rhankamer@gmail.com

CCIM MARCH LUNCHEON - JONATHAN BRINSDEN, SPEAKER - THE MIDWAY COMPANIES Jonathan Brinsden addressed the March luncheon and gave some insights on Midway’s development philosophy and a glimpse into some of its recently completed and future projects. Midway is best known for City Centre, and many of the elements of this development are being carried forward into the company’s new deals.

First, some of the Insights: • We like to create remarkable places that enrich peoples’ lives • Sometimes our capital partners cringe, but we like to do projects where everybody wins, including our employees, our tenants, and their customers • When considering a project, we always ask ‘What’s best for the community?’

• We look for the best real estate that ‘is generational and has permanence of location’, which means it will just get better over time and will appeal to future generations-the mix must be disciplined so that a stable income stream will be created for a long time into the future • We like to do mixed-use projects with office, hotel, retail, and multi-family • We rarely warehouse raw land for future development-if we do buy a site, we like for it to have income to carry itself until we are ready to redevelop it • We have a $2 billion portfolio which includes capital from many high net worth individuals • Our team includes 130 employees • “Every project is unique”, i.e. one of a kind, NOT a ‘commodity development’ Recent and future developments by Midway: • Memorial Green-in partnership with Methodist Hospital on Memorial Drive, not far from Town & Country Village-91 high end townhouses and residential lots, with 75,000 SF of commercial fronting Memorial Drive-features a park-like “green” between the residential and commercial elements • Kirby Grove-bordering Levy Park near Richmond and Kirby, three development parcels enhance the city park and in turn are enhanced by it-an office tower and 270 luxury apartments are among the elements here • Green Street-existing development purchased about four years ago for re-concepting, this multiple block project includes the House of Blues, retail, office, and restaurants-NRG is moving out as an office tenant, which was welcomed by Midway so as to give them the ability to re-mix the tenants for greater vitality-five star 233 room Hotel Alessandra by the Valencia Group (Hotel Sorella in City Centre) has recently been completed

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April 2018

• T he Jones on Main-originally the Gulf Building developed by the legendary Jesse Jones, this classic art deco building houses JP Morgan Chase, which occupies about 50% of the building-Midway is adding a large food court and is emphasizing the historic significance of the building instead of being shy about its age, and is driving rents from $18 to $25 in the process • C entury Square-across from Texas A&M on a one-of-a-kind site, this 25 acre development will include multi-family, Class A office, retail, and two full-service hotels. New projects also in College Station: The George, and Cavalry Court • B uffalo Heights-Waugh at Washington, this 23 acre site will include the first H.E.B. ‘urban prototype’ grocery store and an office component and a 250 unit multi-family project • E ast River-redeveloping the former KBR (Kellogg Brown & Root) site along one mile of Buffalo Bayou frontage will be done over an extended period of time, and will eventually be equivalent to 70 downtown city blocks-this is the largest undeveloped site remaining inside Loop 610, and is very close to downtown. The bayou here is wide and resembles a river, and there are in place numerous easements via the City and the Buffalo Bayou Partnership, which will enable a park-like ambiance along the bayou’s banks. This development one day will resemble a small master-planned city within a city. By going slowly on this project, the dwindling undeveloped parcels should increase in value over time. This site was offered to Amazon.

Brinsden concluded his remarks by saying ‘parks are the living room of a city’ and that as Houston densifies they will be even more important. He said that Houston is exponentially different from most peoples’ preconceptions of it, but that we have to do a better job of diversifying our economy and our employee base away from oil & gas.

Brinsden pointed out that this is one of the reasons we may have lost Amazon.

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