Page 1

JUNE 2017

COLLEGE STATION BIG BOX OPPORTUNITY 2 3 5 1 Earl Ru d d e r Fw y | Co l l e ge S t a t i o n , Texa s 7 7 8 4 5

54,560 SF Sublease Freestanding former Academy Sports & Outdoors in the growing College Station market. Exposure to over 76,396 vehicles per day on Highway 6. (TXDOT 2015) Regional site with strong existing sales and 224,191

Soaking Up Seabrook

people in a 30 minute drive time.

Building a new brand A Two Generation Park: Father and Son create unique opportunities University of Houston: Multi-family living - elevated AREA RETAILERS:

SPECIALIZING IN THE DEVELOPMENT, MARKETING AND DISPOSITION OF ANCHORED AND SHADOW ANCHORED RETAIL CENTERS

6363 Woodway, Suite 1125 Houston, Texas 77057

281-816-6550 www.capitalretailproperties.com


TRACT 1

N

TRACT 2

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

LAUREN GEARY Marketing Coordinator T: +1 346 444 8968 lauren.geary@berkadia.com

MATT DAVIS Analyst T: +1 346 444 8961 matt.davis@berkadia.com


TWO LAND TRACTS IN NORTHWEST HOUSTON Both sites are approximately three miles west of I-45 and located next to the Northgate Forest Country Club and subdivision, and the Olde Oaks subdivision. Positioned to serve a variety of users with access to The Woodlands, Houston Intercontinental Airport, Kingwood and Champions.

TRACT 1

TRACT 2

±9.94 ACRES

±27 ACRES

±9.94 ACRES OF LAND, LOCATED DIRECTLY ON FM 1960, THE MOST TRAFFICKED STREET IN NORTHWEST HOUSTON

±27 ACRES LOCATED ON TC JESTER BLVD., ONE BLOCK NORTH OF FM 1960

Immediately west of the new Kelsey-Seybold Clinic No zoning, and no pipelines, access or other easements bisecting the tract

SITES

Utilities through Northwest Harris County MUD 20, with adequate utilities to the site No zoning, and no pipelines, access or other easements bisecting the tract


IN THIS ISSUE

8

26

12

20

Market

Scoop

Services

Features

Sales & Leases 1-3, 5, 7, 10, 11, 13 - 17, 19, 22 - 25

Environmental Services 30 Legal Services 41 Photography 16 Signage Services 44

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

Soaking Up Seabrook 8, 9 Healthcare Help 12, 18 A Two Generation Park 20, 21 University of Houston Symposium 26, 27 CIVIL FAIR PLAY Adjusting To Adjusters 28, 29 RAY'S BUZZ POST HOUSTON & Imperial Market 42

4

May 2017


We’re growing In Houston, JLL’s Retail group has been in expansion mode. In less than three years, we’ve grown from one service offering to a full-service platform, ready to meet our clients’ evolving real estate needs.

Services include: tenant representation, project leasing, land sales and acquisitions, national portfolio strategies, investment sales, multi-market dispositions and sale-leasebacks. +1 713 888 4000 From left to right: Wendy Vandeventer, George Cushing, Pierce Owens, Chris Bergmann, Kaylie Walker, Gunnar Holman, Simmi Jaggi, Elizabeth Clampitt, Donna Kolius, Matt Parsons, Randy Hopper, Chris Burns, Mark Raines, Meaghan Gallacher


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, As I write this I know many of you are en route to Las Vegas for ICSC. I hope you have great success, get a lot of deals done and arrive home happily exhausted.

The mid-year consensus regarding the health of commercial real estate seems to be positive in all sectors. Dr. Bill Gilmer held his annual Spring Symposium on May 11 th which was titled “Is the Oil Bust Really Over?”. He anticipates Houston employment growth this year should range between 35,000 – 55,000 jobs, depending upon the pace of expansion in drilling. Although we added only 18,000 jobs in 2016, the 77,000 jobs that were lost in the oil industry was somewhat recouped in other service areas such as health care and food services.

Ryan McCord is carrying on the legacy of his father, Rick McCord, who founded McCord Development in 1973. His foresight in diligently assembling 4000, primarily landlocked acreage many years ago which was located within close proximity to IAH, Port of Houston and the proposed Beltway was visionary and led to the development of Generation Park which has defined northeast Houston (see pages 20 -21).

Seabrook also has visionaries within its city offering a lot of opportunities to developers. This former “fishing village” is absolutely charming and strives to maintain its historic atmosphere while encouraging development. This city has a small town, waterfront community feel which is unique to the region. (see pages 8-9.)

And you can read Ray’s BUZZ about Frank Liu’s big plans for the old CBD post office, as well as Jim Murnane’s Imperial Market redevelopment of the old Imperial Sugar refinery in Sugar Land on page 42. Next month we’ll explore more master-planned communities throughout Texas so please send us your suggestions. I hope you have plans for a fabulous summer vacation! Best Regards,

Ginger Wheless

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

CONTRIBUTING WRITERS

Micah Leigh info@REDNews.com Philip Loyd info@REDNews.com

EMARKETING DIRECTOR

Rahul Samuel emarketing@REDNews.com

CREATIVE DIRECTOR

Steven Smith digital@REDNews.com

ACCOUNTING

Benton Mahaffey accounting@REDNews.com

MARKETING DIRECTOR

Michelle Zygala marketing@REDNews.com

SALES

Ginger Wheless  ginger@REDNews.com

PRINT & DIGITAL DISTRIBUTION

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

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


In 2003, you could have bought this property for $1.27 per foot. In 2006, you could have bought this property for $5.00 per foot. In 2007, you could have bought this property for $7.42 per foot.

NOTICE A TREND?

20.12 Acres at the northwest corner of Brittmore and Clay Roads. Non-approval/no recourse long or short term flexible owner financing. Crowd funding solutions entertained.

Mitch Zarsky 713 825 0728


1

Soaking up Seabrook: How a former “fishing village” is building a new brand BY BRANDI SMITH

Just 30 minutes south of Houston, tucked right along State Highway 146, the town of Seabrook is quietly making waves around Clear Lake.

Though officially incorporated in 1961, the history of the town dates back to 1832. That’s when the Mexican government granted Virginian Ritson Morris a league of land. Decades later, Seabrook W. Sydnor purchased some of that land and filed a plat with the Harris County Courthouse, laying the groundwork for what would become one of Texas’ most charming coastal towns. Nestled along Galveston Bay, Seabrook quickly became a destination for local farmers, fishermen and merchants. Over time, the city became known as a get-away for those exhausted by the hustle and bustle of Houston. Just a few miles down the road, they could find rest and relaxation along the Bay. “For a long time, Seabrook was only known as a fishing village,” says Paul Chavez, Seabrook’s economic development director. “But it’s so much more than that now. We’re not your average Houston suburb.”

Paul Chavez Seabrook Economical Director

When the storm surge from Hurricane Ike barreled into Seabrook in 2008, it caused millions of dollars in damage. Who can forget the images captured afterward?: roads under water, boats dumped on land and the debris that stretched for miles. The water also flooded most homes and businesses along State Highway 146.

“Hurricane Ike was devastating,” said city manager Gayle Cook. “Rebuilding didn’t just take weeks or months.”

8

June 2017

Though it could be easy for a city to become overwhelmed with the task of rebuilding, leaders in Seabrook looked at it as an opportunity to reexamine what the former “fishing village” should look like in the future. As such, the city’s vision changed. “Seabrook is a sustainable, energetic and beautiful coastal community that embraces environmental stewardship, fosters safe neighborhoods and promotes tourism and economic diversity,” according to its website.

City leaders want to create a different atmosphere than you might find in some of the neighboring communities. Instead of chain restaurants and retailers, Seabrook wants to add flavor with locally owned, mom-and-pop shops.

“When you’re ready to relax and spend time as a family, that’s where Seabrook comes into play.” - Paul Chavez “The city is fiercely proud of its independent nature,” Chavez says. “Old Seabrook really lives up to its name, offering smaller lots and a historic feel. We’re looking for small-to-medium chains, not cookie-cutter businesses. We don’t want to lose our identity.” Chavez says neighboring communities, such as Kemah, offer plenty of options from the larger chains, allowing Seabrook to foster its own atmosphere. “I like to say we are in ‘cooper-tition’ with Kemah,” says Chavez. “When you’re ready to relax and spend time as a family, that’s where Seabrook comes into play. It reflects in our community and in the businesses that come here.” In addition to creating a unique vibe with its businesses, Seabrook is making the most out of a massive project along Highway 146. TxDOT is expanding the highway because the state road is an official hurricane evacuation route and the expansion will greatly alleviate daily traffic congestion. What most cities would consider a temporary headache, Seabrook is looking at as an opportunity.


Gayle Cook City Manager

The city hired design firm SWA Group to work on a set of design standards that can be incorporated into the TxDOT contract as a way to make Seabrook stand out with its own identity. “To better brand and define our city, we will be approaching TxDOT with an altered design for the MSE wall, which looks like it’s going to be our sailboat design. The sails will be very unique as a branding element,” Cook says. “Because Seabrook has not had gateway signage, part of that project includes incorporating very distinct gateway signage at both the north and south entries into the city.”

“We’ve been able to maintain the idea that, even though we’re growing, you can still find peace here along the water” - Gayle Cook Lucky for developers, there are plenty of prime opportunities to capitalize on. A few highlights include a 6-acre parcel on Seabrook Circle, located in the heart of the city. Its C-2 zoning allows for commercial, retail or office development just west of Highway 146 and NASA Parkway. Nearby, 3330 NASA Parkway offers 2.3 acres, which have been granted an 8-story variance for hotel, office or residential use.

2

Seabrook’s approach to development, along with its growing population and $110,000 average household income, is drawing a lot of interest. “The water also plays a really big role,” says Chavez. “Companies know that people want to come to the water to relax when they can.”

Then there are the more than 7 acres available for development at the intersection of Highway 146 and Red Bluff. Though it’s currently zoned C-2, the city is open to L-1 zoning as well.

“We offer a variety of incentives for potential developers,” Chavez says. “When it comes to new development opportunities, we’ll work on Chapter 380 agreements. But we can also work out a sales tax rebate, facade improvement grants and much more.” As new businesses make Seabrook home, city leaders want to make sure it still feels like home to residents.

3 They’ve constructed 13 miles of bike paths connecting the west side of Seabrook to the water on the east side. “We’ve been able to maintain the idea that, even though we’re growing, you can still find peace here along the water,” says Cook. You can find out more about development opportunities in Seabrook by contacting Chavez via phone (281-2915730) or email (pchavez@seabrooktx.gov). PHOTOGRAPHY: 1) LoopNet 2, 3) JLL June 2017

9


GReenberg & Company Commercial Real Estate Brokerage Firm

RetaiL/Office space available FOR LEASE GREAT LOCATIONS - HIGH TRAFFIC

ce ffi able O l/ il tai Ava e R ce a Sp

Office/Retail Building For Lease

Office/Retail Building For Sale/Lease

Office | Retail |Warehouse | Mixed Use

5900 Memorial Dr., Houston TX 77007

421 Fannin Street Houston TX 77002

6301 Richmond Ave., Houston TX 77057

This three - story Office/Retail Buildinghas a three level parking garage with building identification and one elevator. This property is located on the Northwest corner of Memorial Drive and Westcott.

This is a two-story Retail/Office building. The building is encased with framed windowsgiving high visibility of premier office space along Fannin. It is located in between Prairie St. and Preston.

This is a 2 story building located immediately west of Houston’ s Galleria. Neighboring properties include restaurants, office, retail service centers, hotels and multi-family.

♦ Major Intersection - Memorial Area ♦ Building Size: 32,444 SF ♦ Land Size: 0.87 Acres

♦ Great Location & Visibility ♦ Building Size: 20,000 SF ♦ Land Size: 0.3 Acres

♦ High Traffic - Great Location ♦ Building Size: 24,000 SF ♦ Land Size: 1.13 Acres

Call For Details

Call For Details

Call For Details

5959 Richmond Avenue, Suite 440 Houston, TX 77057 - Phone: 713-778-0900 - WWW.GREENBERGCOMPANY.COM

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

2550 N. Loop West, Houston, TX 77092

SITE

r

Jeste

W. Alabama

W TC

l ul p! f s u ha ack g in or b d il t Bu era n ge

rs o lo l F le l Fu ilab o a Tw Av

Dacoma St Kirby Dr

Buffalo Speedway

SITE Richmond Ave

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

W 18th St

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

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


DAIRY ASHFORD / MEMORIAL

PASADENA

CHAMPIONS AREA

3315 BURKE ROAD Pasadena, TX 77504

909 DAIRY ASHFORD RD Houston, TX 77079

908 E. SOUTHMORE BLVD. Pasadena, TX 77502

17030 NANES HOUSTON, TX 77090

• 46,462 SF, Three Story MOB • 80 Free Surface Parking Spaces • Recently Renovated Lobby • Generous TI Allowance • 532-3,068 SF Available

• Up to 11,929 NRA Available • Two Story MOB • On Site Pharmacy • Located 2 miles from the NW Medical Center

GREENSPOINT

CHAMPIONS AREA

GALLERIA

GALLERIA

550 GREENS PARKWAY Houston, TX 77067

14505 TORREY CHASE BLVD Houston, TX 77014

7660 WOODWAY Houston, TX 77063

7887 SAN FELIPE Houston, TX 77063

• 560- 11,080 NRA Available • Beautiful Atrium Lobby, High End Finishes & Lush Landscaping • Secured Covered Parking

• 580-8,536 NRA Available • Completely Remodeled in 2015 • Private Corner Balconies on Upper Floors • Located near FM 1960 & I-45 in Champions Forest

• Up to 16,014 NRA Available • Five Level, Class B Office Building • Renovated in 2014 • Property Secured by Security Gate & Card Key Access

• Up to 2,532 NRA Available • Located in the Suburbs of the Galleria – San Felipe/Voss Submarket • Free Covered Parking

ANGLETON

TEXAS CITY

BROWNSVILLE

EAST HOUSTON CENTER

1800 N. VELASCO Angleton, TX 77515

8030 FM 1765 Texas City, TX 77591

3000 PABLO KISEL BLVD Brownsville, TX 78526

10907-11095 I-10 EAST Houston, TX 77029

• 6,700 SF End Cap Available • Kroger Anchored Center • Center is Located Across from Wal-Mart • Renovated in 2014

• Up to 3,000 SF Available • Located in the NASA/Clear Lake Submarket • Parking Ratio 7.07/1,000

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

• 1,200-6,460 SF Available • Strong National Tenant Mix • Located Adjacent to Sunrise Mall • Strong Demographics

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

OFFICE

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

• Up to 11,017 SF Available • Located at NWC I-10 E Frontage @ John Ralston • Traffic Count Exceeds 189,000 CPD

AUSTIN OFFICE:

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

RETAIL

• Three Story Office Building • Fully Remodeled Lobby & Common Areas • Conveniently Located Across Bayshore Medical Center • 885-3,596 NRA Available

MEDICAL

PASADENA


Healthcare Help: University breaks ground on new West Texas medical facility BY BRANDI SMITH

In West Texas, the need for medical care is great. The 1,000-square-mile El Paso County alone has a population of more than 830,000, but the hospitals in the region’s largest city, El Paso, also serve many neighboring communities. After all, the county shares a boundary with New Mexico, as well as an international boundary with Mexico. Physicians in the region can face a number of issues, including overwhelming demand and language barriers, which may be why the doctor-to-resident ratio in El Paso is one of the lowest in the country. In 2014, Vitals.com ranked El Paso 50 out of the 50 largest U.S. cities due to the 1-to-590 ratio. Texas Tech University Health Sciences Center El Paso (TTUHSC El Paso) is actively working to improve the conditions in West Texas. Since its early beginnings in 1975, when it was known as the TTUHSC regional School of Medicine in El Paso, the school has graduated nearly 1,000 physicians. Prior to 2013, medical students earned their degrees from TTUHSC in Lubbock. 12

June 2017

Roughly 25 percent of those have stayed in the area. By comparison, only about 3 percent of physicians trained in other parts of the state relocate to West Texas.

El Paso will contribute the additional $8 million.

“One of the reasons that we exist is that if you get trained anywhere else in the state, where you train is usually where you stay for a few years at least,” says Frank Stout, TTUHSC El Paso COO. “By the time people are done training, they have partners or they're married and they have kids. They don't want to move.”

The second, third and fourth floors of the building will be dedicated to research, specifically focused on border-region diseases, including diabetes, tuberculosis and breast cancer.

The latest effort is the groundbreaking of its nearly 220,000-square-foot, $83 million Medical Sciences Building II. The five-story building is expected to more than double the university's research capacity and support the Paul L. Foster School of Medicine and Gayle Greve Hunt School of Nursing growing when it opens in 2019. “The community in El Paso has been extremely supportive of helping build this new medical center here and providing the care and the training for our citizens and the citizens along the border,” Stout says. He also credited the Texas Legislature for supporting the project. In 2015, lawmakers appropriated $75 million dollars for the facility's construction. TTUHSC

“The legislature's been supportive of us and our congressional delegation's been very supportive too,” says Stout.

“In the Hispanic population, breast cancer is genetically different than it is in people with more traditional European backgrounds,” Stout explains. “We have a lot of work going on in that area.” Because of the amount of research anticipated, the building will be outfitted in the most advanced IT possible, according to Stout. “It goes all the way down to the fiber and the kinds of fiber that you need to put in so it can carry the load. You have to make sure you have enough bandwidth because some of this gets really big, to be able to carry some of these large photos and so forth,” he says. In the future, the university will also focus on advancing artificial intelligence in medicine, allowing more remote diagnostics and thereby expanding care options for West Texas residents. Continued on Page 18 >


W

* UNRESTRICTED 70+ Acres, Less than one mile from the intersection of Grand Pkwy & Cypress Rosehill * Currently set up as World Class Equestrian Facility, but ideal for residential or commercial development * 3,920 sf 18 stall Barn wtih an Office & Vet Stall, Covered Arena, Utility Barn, 3 Wash Racks, Multiple Paddocks, etc.

* Business also for sale - Oilleld Service Design & Manufacturing Company * Fully fenced, Security Alarms & Cameras with Remote Monitoring * Entire building climate controlled * ADA Compliant

* 1,750 sf Office with 9,572 sf of Shop Space * 4 Offices, Storage Room, Shop Locker/Bathroom with showers, Conference Room * Building Certiied ADA compliant * HVAC througout entire building


Offering Properties & Hotel Consulting PROPERTIES AVAILABLE • Hotel, Condo, Retail Site - Cruise Terminal Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide

HANKAMER & ASSOCIATES • 30 acres on FM 1432 in Victoria • Includes 8 acres of improved gravel outside storage yard • Minutes from Port of Victoria • 5 buildings on the property totalling 57,053 SF • 4,000 SF of office space within the 57,053 SF • Lot type: Manufacturing, distribution warehouse and/or flex space

BROKERS, L.L.C.

• NNN rental rate $0.29/SF, $16,500/ month

Hospitality Consulting Services

• Crane-served main shop

40 Years Experience As Developer, Owner / Operator and Commercial Broker

• Fabrication/Paint/Sandblasting/ Maintenance Shop

Hospitality Consulting Services 281-568-4185 billh@beardeninvestments.com patriciag@beardeninvestments.com

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 &

B


A N C H O R E D R E TA I L

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Birn ham

Birnham Woods Marketplace

W oo ds

FOR LEASE SITE

NEC of Birnham Woods Dr & Grand Pkwy - Spring, TX

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Pk

G

Contacts: Anderson Smith & Eric Walker

Shops at Spring Village SEC of Spring Stuebner Rd & Holzwarth Contacts: Connor Lynch & Brad Ryan P R OP OS ED

Gleannloch Retail SITE

SEC of Boudreaux Rd & Champion Forest - Spring, TX Contacts: Connor Lynch & Eric Walker

P R OP OS ED

Tenant Representation

|

Leasing

|

Investment Sales

|

Development

w w w. c a p i t a l r e t a i l p r o p e r t i e s . c o m


SAN MARCOS - TEXAS

CALL CENTER…CORPORATE HQ UP TO

7,500 Sq. Ft.

Serving Austin, Dallas, San Antonio & Houston

WE SHOOT TO SELL WITH QUALITY PHOTOGRAPHY PRIMARY SERVICES: Corporate Headshots Commercial Real Estate Photography Aerial Photography & Video Promotional Videos

FULLY FURNISHED OR BARE READY FOR MOVE-IN $17.40 SF/Year - NO NNN

CALL TODAY - 713.449.2468

www.PlusCorpPhotos.com SHERYL D. THOMAS 2425 West Loop S, #200 Houston, TX 77027 713.449.2468 sthomas@pluscorpphotos.com

Smaller Lease Areas Available

(512) 787-8310

henry@oldmillproperties.com

www.oldmillproperties.com

GOOD LOCATIONS

Negotiable Rates & Quick Move-In PARKWAY OFFICE CENTER

BUCKLEY BUILDING

800 & 888 W. Sam Houston Parkway, Houston, TX Easy access to W. Sam Houston Tollway/I10 & Westpark Tollway 800 W. Sam Houston building renovated in 2016 & 888 W. Sam Houston will be completed by year end 504 SF – 2767 SF Available

9225 Katy Freeway Easy access to I10 & CBD/Sam Houston Parkway Aggressive Owner & Quick Move-in Onsite Management 3/1000 Parking Ratio 1100 SF – 2022 SF Available

Contact Art Troscher or Cory Troscher 713-463-9994


TWO TRACTS

HWY 35 & RICE DRIER RD. PEARLAND, TEXAS

CALL FOR OFFERS

TUESDAY, JUNE 27, 2017 | BY 12:00 CST TRACT 2

TRACT 1

• Reserves in Rice Drier Business Park

OFFERS DUE

±41,543 sf of land on the west side of Patterson St. just north of Cornish on the north side of I-10 in the Heights • Good access tolocated tracts and available signage neighborhood. Property is adjacent to White Oak Bayou and the White Oak Hike and Bike trail. on Highway 35/N. Main TUESDAY, JUNE 27, 2017

by 12:00 PM CST

Patterson from access on and off I-10 with its own exit from the freeway and immediate on ramp just past • Rice Drierbenefits Rd. to beeasy re-built the light at Shepherd. Patterson reaches across I-10 to the south side making it well located and easy to get to retail, ALL OFFERS WILL BE CONSIDERED, restaurants and businesses. Project along Highway • $900k Beautification FOR TRACTS SEPARATELY OR 35/N. Main to improve landscaping and TOGETHER Pricing: $45 PSF, all offers will be responded to. lighting

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

LAUREN GEARY Marketing Coordinator T: +1 346 444 8968 lauren.geary@berkadia.com

MATT DAVIS Analyst T: +1 346 444 8961 matt.davis@berkadia.com


< Continued from Page 12

“We see an extremely bright future for our community, our students and also our ability to deliver high-quality healthcare to our community,” says Stout.

“If you just think of a chest X-ray for tuberculosis, you won't need a radiologist to read that anymore,” says Stout. “Once we have enough data loaded into the AI scope, the computer will be able to read that X-ray and analyze it.” The other half of the facility will be academic and include a 9,200-square-foot auditorium that can hold up to 500 people on the first floor. It will also feature a cafeteria, several classrooms, a space for reflection and an expanded library. 18

June 2017

While the Medical Sciences Building II is just minutes away from El Paso International Airport, it’s 25 miles away from another example of TTUHSC El Paso’s fight to keep the region healthy. The university collaborated with Tenet Healthcare Corporation, a for-profit company based in Dallas, to build a 106-bed teaching hospital. It will provide training for an estimated 75 medical students during a multiyear program, as well as training for the university’s nursing students. Tenet also manages a 110,000-square-foot medical office building, known as Texas Tech Physicians of El Paso at Transmountain, which is directly adjacent to the teaching hospital, 90,000 square feet of which is leased to TTUHSC El Paso. “This affiliation is really because of the expansion and the growth of our medical school here in El Paso,” said Stout. “We are using the hospital and the medical office

building not only to provide care for our community, but also to teach for our medical students, our nursing students and our graduate students.” Within a couple years, TTUHSC El Paso will add dental students to that list. Currently, the city only has 20 dentists per 100,000 residents compared to the state average of 36. To raise that number, the Hunt Family Foundation gifted the university $25 million to launch the Woody L. Hunt School of Dental Medicine. Not only will it host 200 students each year, it will be the first dental school to open in Texas in nearly 50 years. Stout estimates the dental building will be roughly 175,000 square feet. He adds that another 200,000-square foot clinical building is likely in the works as well, due to the school’s rapidly growing volume. “Those are two things that we see that are in our strategic plan for the future,” he says. The university hasn’t yet put out RFPs for those projects, but Stout says they will be coming out soon as TTUHSC El Paso strives to put the city on the map when it comes to healthcare. “We see an extremely bright future for our community, our students and also our ability to deliver high-quality healthcare to our community,” says Stout.


seabrook has the real estate to fit your project!

±110 ACRES

LAND – FOR SALE

±110 ACRES

H 146 & Red Bluff Rd. | Seabrook, TX 77586

SH 146 & Red Bluff Rd. | Seabrook, TX 77586

±110 ACRES

LAND – FOR SALE

SH 146 & Red Bluff Rd. | Seabrook, TX 77586

±171.6´

±1,364.5´

±660.5´

±264.5´

Zoned Residential ±1,364.5´

future Grand Parkway

±2,509.6´

±22.7 Acres

321

249

59

45

Apartments

290

1960 George Bush Intercontinental Airport

1960 249

Grand Parkway

529

Road Hardy Toll

under construction ±22.7 Acres

±596.1´

±18.57 Acres

±594.1´

±264.5´

Zoned Retail

±691.5´

±596.1´

±660.5´

±594.1´

±18.57 Acres Zoned Residential

±2,509.6´

±714´

±620.6´

±209.9´

Zoned Industrial/Office

±48.59 Acres

±714´

±825.4´

±41.6 Acres

±171.6´

Zoned Retail

±12.8 Acres

Industrial/Office

±339.4´

Bayview

±48.59 Acres ±1,431.7´

±691.5´

±421.9´Zoned

±209.9´

±1,431.7´

Lake detention pond

±41.6 Acres

±300.3´

Red Bluff Rd.

±110 ACRES - LAND

±825.4´Liberty

±620.6´

±339.4´

Bayview

±421.9´

±390.1´

- sold

±821.5´ ±12.8 Acres

±300.3´

±9 Acres

45

future Grand Parkway

90

59

321

146

8

1960

north planning area Apartments

Grand Parkway

George Bush Intercontinental Airport

1960

8

99

2013 TRAFFIC COUNTS SH 146 north of Red Bluff = 29,800 SH 146 south of Red Bluff = 31,000 2013 TRAFFIC COUNTS 2011 TRAFFIC COUNTS SH 146 north of Red Bluff = 29,800 Red Bluff west of SH 146 = 17,790 SH 146 south of Red Bluff = 31,000 Red Bluff east of SH 146 = 5,060

290

6

610

Westheimer

529

Road Westpark Toll

1093

6

90

330 8

1093

3

146 Hobby Airport

45

90

8 3

146 Galveston Bay

35

288

45

F (713) 977 2965

Jeff G. Peden, SIOR (713) 963 2880 jeff.peden@cushwake.com

Girard Interest, Inc. Licensed Real Estate Brokers 817 N. 3rd Interest, Inc. Bellaire, Girard TX 77401

Will Condrey (713) 963 2887 will.condrey@cushwake.com

Jeff G. Peden, SIOR (713) 963 2880 jeff.peden@cushwake.com

seabrook retail trade area

DUE DILIGENCE INFORMATION IS AVAILABLE ONLINE VIA A PASSWORD PROTECTED WEBSITE. PLEASE CONTACT US TO REQUEST A CONFIDENTIALITY AGREEMENT.

6

For more information, please contact: David l. Cook, SIOR, CRE Lee Girard (713) 963 2888 O (713) 977 6779 For more information, contact: david.cook@cushwake.com F please (713) 977 2965 David l. Cook, SIOR, CRE 236 4401Lee Girard C (281) (713) 963 2888 O (713) 977 6779 leegirard@gmail.com david.cook@cushwake.com

6

59

Cushman & Wakefield of Texas, Inc. and Girard Interest, Inc. are pleased to offer for sale this Approximately 110 acre divisible prime site with unlimited poapproximately 110 acre divisible prime site with unlimited potential. Located 30 minutes southeast of downtown Located Houston, this 30 area is poised to benefit from the positive momentum spurred by tential. minutes southeast of downtown Houston, this Cushman & Wakefield Texas, Inc. and Girard Interest,Bayport Inc. are Container pleased to offer for sale industries such as aerospace,oflogistics, marine, the adjacent Terminal, thethis nearby area is poised to benefit by industries such as aerospace, logisapproximately 110 acre divisible prime site with unlimited potential. Located 30 minutes southeast of Cruise Ship Terminal and specialty chemical. Tourists and boating enthusiasts, as well as visitors to downtown Houston, this area isare poised to to benefit from the positive momentum spurred by the Armand Bayou Nature Center, drawn the area. tics, marine, the adjacent Bayport Container Terminal, the nearby industries such as aerospace, logistics, marine, the adjacent Bayport Container Terminal, the nearby Cruise Ship Terminal and specialty Tourists and boating enthusiasts, as well as visitors to Cruise Ship Terminal andchemical. specialty chemical. the Armand Bayou Nature Center, are drawn to the area. DUE DILIGENCE INFORMATION IS AVAILABLE ONLINE VIA A PASSWORD PROTECTED WEBSITE. PLEASE CONTACT US TO REQUEST A CONFIDENTIALITY AGREEMENT.

Galveston Bay

old town district 2011 TRAFFIC COUNTS Red Bluff west of SH 146 = 17,790 Red Bluff east of SH 146 = 5,060

99

146

225

610

35

288

10 330

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Road Westpark Toll

146

99

610

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146

225

8 610

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Road Hardy Toll

under construction

±110 ACRES - LAND

SH 146 & Red Bluff Rd. | Seabrook, TX 77586

Liberty Lake detention pond

±390.1´

- sold

Red Bluff Rd.

±110 ACRES

±821.5´

±9 Acres

Will Condrey (713) 963 2887 will.condrey@cushwake.com

ushman & Wakefield, ©2015. No warranty or representation, express or implied,C is (281) made to236 the accuracy 4401 or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

leegirard@gmail.com

Cushman & Wakefield, ©2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Licensed Real Estate Brokers 817 N. 3rd Bellaire, TX 77401

Cushman & Wakefield Licensed Real Estate Brokers 1330 Post Oak Boulevard | Suite 2700 Cushman Wakefield Houston, TX & 77056 Licensed Real Estate Brokers www.cushmanwakefield.com

1330 Post Oak Boulevard | Suite 2700 Houston, TX 77056 www.cushmanwakefield.com

at a glance 77,000 population (2017) 83,000 population (2022 projection) $109,300 average household income

802 Hardesty Ave. $1,500,000 1.41 acres raw land

4.5 lots on Hardesty and Hall Open to Offers 0.65 acres raw land

Hall Ave. / Third Street $58,000 6,250 square feet raw land

36% of population have bachelor’s degree and higher Approx 75,000 daily commuters

CALL 281 291 5730 visit www.seabrooktx.gov


A Two-Generation Park: How a father and son helped create a unique development opportunity BY BRANDI SMITH

“We view ourselves as an in-fill location. There's “Before he got sick, he stopped in Dubai for a few It takes someone with an already development on all sides of us,” says Ryan. days. He came back and told me, ‘Son, you need incredible imagination and “Our challenge is to construct the economic center to make Generation Park more like Dubai,’” Ryan for this quadrant of Houston, which it needs.” remembers. drive to look at a chunk of property and see its potential, “... a vision ...” “... unprecedented opportunity ...” which is exactly what Frederick To understand the success of Generation Park, one At the time, the development was already on its way “Rick” McCord did when he must first learn about the man who envisioned it in to success. The company had just signed TechnipFMC, which now has a 173-acre campus on site. first saw the area of Northeast the first place. “He was a very good man,” Ryan describes his father. “We really knew what we wanted to do. We became Harris County in 1985, now “He was a wonderful father and a great business person very adept at articulating it and illustrating it developed as Summerwood. who really challenged the people around him.” through videos, renderings and other media,” Ryan “There were no roads, no infrastructure at all,” explains Ryan McCord, Rick’s son. “But he knew this property was in such close proximity to downtown Houston, Bush Intercontinental Airport and the ship channel ‑ what we call economic pillars of the city.” The elder McCord made his first land purchase in the area that year. Decades of acquisitions have resulted in McCord Development owning over 4,000 acres, by far the most contiguous property on Beltway 8. “It's more than a quarter of the size of Manhattan,” Ryan says. “We understand that we are the second largest landowner in Harris County, which is the third most populous county in North America.” That property is now managed as Generation Park, a sprawling master-planned commercial development offering office, retail, industrial and residential development opportunities.

Rick McCord founded McCord Development in 1973, developing or acquiring roughly $2 billion in Houston real estate over the next 40 years. The Shreveport, La., native passed away in 2015, leaving quite the legacy in what is now the country’s fourthlargest city. “The number one thing that you have to have is a vision for it. It's a vision that's rooted in reality in terms of what's feasible, but it's not constrained by what's been done,” says Ryan, explaining his father’s successes. “You have to have the ability to articulate it and be able to catch the ear of the people who need to hear it.” When Rick passed, Ryan took over the helm at McCord Development, vowing to continue the work his father started.

255 Assay St., Redemption Square

says. “By the grace of the good Lord, we had the opportunity to speak to folks at FMC Technologies with whom this vision resonated.” Other tenants include San Jacinto College, Apache Industrial Services, Lone Star College and StoltNielsen.

The sheer scope of Generation Park’s size sets it apart from many developments in Houston, but Ryan says his team had the advantage of looking at what came before. “Generation Park is unique because it’s brand new,” he says. “Most other large-scale developments were started 30 years ago. There are very few on this scale being kicked off today.” The development’s location is also a factor in its success. Nestled in what may just be the fastestgrowing part of the Houston area, Generation Park tenants can take advantage of all the Lake Houston community has to offer. “It’s truly an unprecedented opportunity,” says Ryan of the potential within Generation Park. He says his company’s priority has been reflecting on what has been done previously and studying why people love Houston, then translating that into the development. “People here enjoy the city’s authenticity and, in some ways, the eclectic nature of our architecture, design, eateries and restaurants,” Ryan says. “It’s a


“The number one thing that you have to have is a vision” - Ryan McCord

challenge to do it in a master-planned environment. We’re very focused on preventing it from getting sterile, which is taking more risk. We’re working with local operators rather than big national chains, but we think there’s a reward to that.”

“... we’re willing to spend ...” Ryan notes that Houston residents also love the city’s bikeability, something McCord is incorporating into Generation Park as well. He says the plans include functional and safe paths between the different commercial nodes and parks that lie within the development. The company is also trying to be energy and resourceconscious. A considerable amount, Ryan says, is being spent to bury power lines. McCord is also building a full non-potable irrigation water system, which will carry what’s considered “gray water.” Gray water can include the use of stormwater runoff as well as treated wastewater from shower drains, bathtubs, sinks, etc., which can be reused for irrigation. “We get a lot of rain here, but periodically we have drought and it makes no sense to be using potable

Ryan and his father, Frederick "Rick" McCord water for irrigation,” Ryan explains. “We’re willing to spend what we need to figure that out.” The underground power supply and recycled water could help Generation Park tenants stay functional in the case of a potential hurricane, something Ryan says his company has considered at length. “We’re trying to learn from all the great developers who have come before us and who are still with us today in the city,” he says. “I can say that we've called on all of them and they've all helped us.”

“ ... we can offer flexibility ...” The result is a property where tenants are clamoring to get in. In fact, Ryan points out, none of the completed space is unleased. “We have one floor of office space in a building that's currently under construction that is available. We’re Generation Park negotiating leases on all of our retail spaces, which are currently under construction. We also have a number of retail operators for whom we're discussing constructing buildings,” he says. Though building space is spoken for, there is still property available, especially for companies who need a big footprint.

“We can offer flexibility for future growth because we own the property next door, which is very unique. It turns out to be of quite a bit of value to companies; they're not sure what their requirements are going to be maybe in five years,” Ryan says. McCord is in the process of putting up a new office building, as well as an office/warehouse mix and a parking garage. Construction on the luxury apartments 255 Assay St. is expected to begin this summer in the 52-acre lifestyle district called Redemption Square. “We decided to add residential because of our viewpoint on people and how we're all kind of innately wired. It comes from the idea that folks generally like to be in an area that is energetic,” says Ryan, explaining the choice to build a residential element in what is largely a commercial development. “You have the opportunity to see other people going about their day.” Located in the middle of Generation Park, Redemption Square is anticipated to serve as the heart of the development: pumping people and energy to the surrounding businesses. Ryan estimates it will take another 20 years for the buildout of Generation Park to be complete, a process he’s looking forward to cultivating. “While we have strong ideals and a strong vision for Generation Park, we're very pragmatic and we're very intentional about making deals,” he says. “We're blowing and going and we have a tremendous amount of opportunity. This is an extremely successful place for companies to locate.” June 2017

21


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

A

Redemption Square 250 Assay St

LEASED LEASED AVAILABLE LEASED PENDING

LEASED PENDING PENDING

OFFICE & RETAIL: OPENING JULY 2017 Office: 3rd floor only, with suites ranging from ±2,000 SF to 17,600 SF Retail: Up to ±7,600 SF available

Redemption Square 255 Assay St

B

RETAIL & RESIDENTIAL: BREAKING GROUND JULY 2017 Now Leasing Retail: Up to ±9,000 SF of plaza frontage retail available. 252-luxury apartments above.


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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

Avg. HH Income THE $91,867 WOODLA NDS

Vehicles Per Day 81,700 (BW8)

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59 IAH AIRPORT

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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.

www.GenerationPark.com

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Population 390,312

GENER ATION PA R K

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Ian Adler 713.860.3038 iadler@mccord.com

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John Flournoy

59 713.860.3018 45

jflournoy@mccord.com

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RETAIL SPACE FOR LEASE 2,340 SF and 3,026 SF available on second floor. Base rent $15.00 PSF & NNN $4.20 PSF

Excellent for retail, office or professional use

2671 SF end cap on first floor; 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 -10,000 SF available with 12â&#x20AC;&#x2122; ceiling. Base rent $15.00$18.00 PSF & NNN $3.60 PSF

11380 Westheimer Houston, 77077

A A Realty Co

Accredited Management 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


COUNT ON CALDWELL FOR ALL YOUR COUNT COUNT COUNT ONON CALDWELL ONCALDWELL CALDWELL FOR FOR FOR ALL ALL ALL YOUR YOUR YOUR INDUSTRIAL OFFICE AND WAREHOUSE N INDUSTRIAL INDUSTRIAL INDUSTRIAL OFFICE OFFICE OFFICE AND AND AND WAREHOUSE WAREHOUSE WAREHOUSE NEEDS NEEDS NEEDS

Caldwell Companies has the extensive local experience and unmatched mark Caldwell Caldwell Caldwell Companies Companies Companies has the hashas extensive theto the extensive extensive localyour local experience local experience experience and and unmatched and unmatched unmatched market market expertise expertise expertise needed serve industrial leasing andmarket brokerage needs. needed needed needed to serve to serve toyour serve your industrial your industrial industrial leasing leasing leasing and and brokerage and brokerage brokerage needs. needs. needs.


Multifamily - Living Elevated Live | Work | Play

Ric Campo, Chairman of the Board & CEO of Camden Development

BY MICHAEL PAVIA

A symposium entitled “Multifamily - Living Elevated”, organized by The University of Houston C.T. Bauer College of Business’ Real Estate Program was held April 20, at the Westin Galleria. After welcoming and introductory remarks by Latha Ramchand, Dean at the C.T. Bauer College of Business, and Keith A. Richards Executive Director, Real Estate Program, Ric Campo, Chairman of the Board & CEO of Camden Development, took the stage. Camden employs over thirty UH Real Estate Program graduates. Ric commented that “Houston’s real estate prices have gone down, but for the long term that is good. An amazing group of people are renting apartments at low prices. When the supply is taken up by demand prices will rise.” The remainder of the symposium was devoted to a presentation by three UH MBA students, Rico Buot, Brook Eben, and Junious Williams. They discussed

L to R: Drew Lewis, Jim Carman, Brad Dinerstein and Philp Schneidau 26

June 2017

the results of their study of the multifamily living market focusing on Consumer Preferences and Trends, and the Importance of Amenities. Their results are summarized below. The symposium ended with three case studies of properties that best illustrate the trends in multifamily living: One Lakes Edge presented by Jim Carman, Vice President, MPC Commercial Development for The Howard Hughes Corporation; Market Square Tower, discussed by Philip Schneidau, President, Woodbranch Investments Corp; and Vantage Medical Center, presented by Brad Dinerstein, President, The Dinerstein Companies

Consumer Preferences and Trends: • There is an increasing desire to live near employment and amenities which support an integrated ‘Live, Work, Play’ lifestyle.

• The multifamily market is being driven by two major demographic groups: (1) Millennials, who are socially active, reliant on technology, and stay mobile and (2) Empty Nesters, who are downsizing and looking for a more active lifestyle. Both groups are less reliant on a personal car. • The cost and responsibilities associated with home ownership has increased the attraction of renting for both groups. • This shared trend is shaping the direction of innovation in multifamily development. Both demographics require developers to offer competitive amenities with easy access.

The Importance of Amenities: • Amenities attract tenants and act as a differentiator. With the rising cost of housing and the desire to improve life balance, consumers are demanding


PROPEL YOUR

C AR EER REAL ESTATE CERTIFICATE PROGRAM We prepare students for careers in the dynamic field of real estate through practice-based academic courses and industry professionals leading the charge. For more information, visit bauer.uh.edu/real-estate C. T. Bauer College of Business is an AACSB accredited business school. The University of Houston is an EEO/AA institution.

more in return for their rent payments. Although nothing can compare to the benefits of a well-located property, well designed amenities that meet the needs of the targeted demographic can play a huge role in attracting and maintaining tenants. • Technology: Smart home features, electronic door locks, social engagement, and tenant management

Conclusions: • The long-term outlook for multifamily elevated market is strong. • Developers who adapt quickly to fill the needs and desires of the upcoming and existing generations are sure to see success in Houston.

• Within Houston’s various employment centers, achieving an environment that embodies “Live, Work. Play’ will continue to be the goal for developers.

• Transportation: Access to public transportation, shuttle services, E-vehicle stations, bike storage and repair • Package Handling: With the increasing growth of online shopping it is important to leverage technology to find creative solutions to address package delivery concerns including designated delivery parking, ability to accept groceries, and package storage • Apartment Services: Security is very important to residents. Developers who include sophisticated security related amenities such as electronic door locks or 24-hour onsite security staffing provide a level of assurance that consumers demand. Personal trainers, valet parking • Pet Services: Onsite dog parks, wash stations, walking services, doggie daycare

L to R: Brook Eben, Rico Buot, Junious Williams, Philp Schneidau, Keith Richards and Drew Lewis.


civil fair play

Adjusting to adjusters:

What you need to know about insurance claims

BY BRANDI SMITH

property owner and myself, we knew we were Before Michael Berlanga “The in over our heads when it came time to negotiate with the insurance adjusters for the company. We decided to become a the damage was more than just what was public adjuster, he had a knew visible to the naked eye. We took what was just a claim and maximized it,” says Berlanga, who’s career as a certified public simple currently studying to get his license. “We didn’t to leave any money on the table. Thanks to our accountant and commercial want public adjuster, we didn’t.” real estate broker. In those As it happened, Texas Elite Public Adjusters had in a building Berlanga managed, resulting in a roles, he managed leasing offices year-long relationship. in a building in San Antonio, What is a public adjuster? which caught fire a couple In the simplest of terms, a public adjuster is an independent licensed professional who doesn’t work of years ago. for an insurance company and can help anyone with their insurance claims. Besides attorneys, they are the only advocates who can legally represent you during an insurance claim process.

“Do you pay the asking price for your house? No. Do you pay the sticker price for a car at the dealership? No. But most people accept the estimate from their insurance adjuster as the final word,” says Randy Crow of Texas Elite. “We find people funds that were owed to them that they weren't aware of based on the policy they signed and the extent of the damage to their property.” He says, just like most other business dealings, an insurance company’s offer is considered the jumping-off point for negotiations. “We push all of them hard because that's our job,” Crow says. “We're only loyal to the client, to the homeowner or the business owner.” “We go the extra mile. We don't just say something’s damaged; we prove that it's damaged,” says Elvia Chandler, president of Texas Elite. “In addition to our construction background, we also understand policy language.

What makes Texas Elite special? Chandler got her independent public adjuster (PA) license in 2008, but has decades of experience to lean on. “I’ve been in construction since the early ‘80s,” she says, adding that she even owned her own women-only construction company. “In 2001, I started doing more storm work, such as roofing.” Chandler calls becoming an adjuster a “natural progression” since she already knew what it takes to construct a building, as well as a roof. “I decided to get my PA license to help people,” she said. Crow’s story is remarkably similar; his career included firefighting, roofing and installing drywall. So, at 53, he decided to pursue his license.

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June 2017


“I realized that I had a career that I didn't even know was available. I'm still working with fires and I'm still working with roofs,” he explains. “That knowledge makes Elvia and me very good at arguing with an insurance adjuster who generally doesn’t have nearly the background that we do.”

How do adjusters work for you? Texas Elite’s team says a very common approach for insurance companies is to tell clients to get bids for repairs. Though that might seem reasonable, Crow says it’s nearly guaranteed to cost the client. “Our advice is that you find the one contractor who you know does a good job. That’s the only contractor you need to work with. You don’t need to waste anyone else’s time by making three guys come out and sell you three different jobs.” Public adjusters can also advocate on a property owner’s behalf when it comes to certain kinds of roofing. Crow says insurance companies often deny damage claims related to modified bitumen and gravel-and-tar roofing systems. “They turn those down every single time and they say they were told by their bosses that those roofs are very hard to damage,” says Crow. “We bring to bear the science to prove that roofs

of that nature are actually damaged and owed for. That can be the difference between $0 on a claim and a claim of $500,000.” Many times, property owners assume the only option to refute a claim is to sue the insurance company. Public adjusters offer an alternative. “It seems as if we've been cultured into thinking that if we contest the argument with the insurance company or the proposal from the insurance company, we commit some kind of mortal sin. We’re just asking the insurance company to meet its obligation,” Berlanga says. “They serve a purpose that's far short of litigation and yet represents an optimal opportunity for these building owners.” Crow adds that PAs may help in the case of multiple properties being damaged, such as in flooding, hurricanes or tornadoes. The average commercial property manager who handles two to three insurance claims in a typical year can easily be buried by dozens of claims for different properties. “We step in and relieve management of that process,” Crow says. “We get a lot of work from commercial managers who may not have needed us before, but they need us after a major event because they have 40 claims.”

“We’re just asking the insurance company to meet its obligation” - Michael Berlanga The key to an optimal settlement, says Berlanga, is patience. “If there's a downside to using a public adjuster, it's the claimant who is impatient because they're being pressured by roofers to hurry and settle, so the roofer can hurry up and settle,” he explains. “I think that's what separates professionals from those who just sort of sell commodity.” You can learn more about Texas Elite Public Adjusters by visiting the company’s website: texaselitepublicadjusters.com.

Join Us June 15th to discuss how to get your deals closed. “SUMMER MARKETING SESSION”

10:30 AM -11:45 AM: Quick Pitch of Haves & Wants Properties 11:46 AM – 1:00 PM: Lunch 1:00 PM – 2:30 PM: Presenters & Moderators discuss the essential elements of a marketing package 2:30 PM - ?: Problem Solving: Bring your problem properties for a brainstorm session on how to get them sold.

Sign Up Today! http://bacren.us/event/bacren-monthly-luncheon-10/ Luncheon Non-Member Lunch $25.00 USD Member Lunch $20.00 USD


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

AVISON YOUNGâ&#x20AC;&#x2122;S NEW DIGS COMBINE WORK & PLAY

Central South Texas

North Texas

Southeast Texas


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

CENTRAL SOUTH TEXAS

June MONDAY

TUESDAY

WEDNESDAY

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 *C  REW Austin: Special Events Committee 11:30 a.m.

FRIDAY 2

1

*B  OMA San Antonio: Monthly Golf Tournament Committee Meeting - 11:45 a.m.

5

*C  REW Austin: Programs Committee 11:45 a.m. – 1:00 p.m.

6

*B  OMA San Antonio: Program Committee 11:45 a.m.

CREW San Antonio: Board Meeting - 11:30 a.m. – 1:30 p.m.

7

* BOMA San Antonio: Education Committee 11:45 a.m. *R  ECA: City of Austin Policy & CodeNEXT Committee Meeting - 12:00 p.m. – 1:00 p.m.

8

BOMA Austin: Seminar: Sustainability Committee Austin Energy Budget Tool – Ask the Pros! – 11:30 a.m. – 1:00 p.m.

9

CTCAR: Property Information Exchange “Business Entities” - 7:30 a.m. – 9:00 a.m. ULI North Texas: Breakfast Forum: The Business Case for High Performance Buildings - 7:30 a.m. – 9:15 a.m. CBA of Austin: Mid Year Panel - Zilker Brewery 4:00 p.m. - 7:00 p.m. IREM San Antonio: FUN Social - 5:00 p.m. – 7:00 p.m.

12

CCIM Development Course Event - 7:00 a.m. – 6:00 p.m.

13

CCIM Development Course Event - 7:00 a.m. – 6:00 p.m. IREM Austin: Chapter Luncheon - 11:30 a.m. – 1:00 p.m.

* BOMA San Antonio: Membership Committee 11:45 a.m.

CREW San Antonio: June Luncheon / Speaker: Mike Frisbie / Topic: SA Bond Package - 11:30 a.m. – 1:15 p.m.

* RECA: Regional Issues Committee - 12:00 p.m. – 1:00 p.m.

19

*B  OMA San Antonio: SCT Committee – 11:45 a.m.

14

CCIM Development Course Event - 7:00 a.m. – 6:00 p.m.

20

R  ECA: June Ideas Forum Luncheon - 11:15 a.m. – 1:00 p.m.

21

C  TCAR: CE Course: “Unimproved Land Sales” - 2:30 p.m. – 4:30 p.m.

* BOMA San Antonio: Board Meeting – 1:00 p.m.

26

BOMA International Conference & Expo in Nashville, TN.

BOMA International Conference & Expo in Nashville, TN.

27

CCIM Central Texas: Networking Luncheon & Presentation Event - 11:30 a.m. – 1:30 p.m. RECSA: Downtown Development Update - 11:30 a.m.

32

June 2017

B  OMA International Conference & Expo in Nashville, TN.

15

TABB Austin: Chapter Meetings - 11:30 a.m. – 1:00 p.m.

16

*U  LI Texas Forum, San Antonio - 10:30 a.m. – 1:00 p.m.

* BOMA Austin: June 2017 Monthly Membership Luncheon - 11:30 a.m. – 1:15 p.m. * ULI Texas Forum, San Antonio - 10:30 a.m. – 1:00 p.m.

* BOMA San Antonio: Luncheon - 11:45 a.m.

Starts Saturday, June 24 to Wednesday June 28

CCIM Development Course Event - 7:00 a.m. – 6:00 p.m.

28

*T  ABB San Antonio: Chapter Meetings - 11:30 a.m. – 1:00 p.m.

 REW: Spring C Leadership Summit in Toronto, Ontario 8:00 a.m.

22

* BOMA San Antonio: Community Service Committee - 11:45 a.m. U  LI San Antonio: ULI/SA Tour: Brackenridge Park Master Plan – What’s Next? – 5:30 p.m. – 7:30 p.m.

*U  LI San Antonio: ULI/ SA: FY17 Mentorship Happy Hour - 5:00 p.m. – 7:00 p.m.

29

23

C  REW: Spring Leadership Summit in Toronto, Ontario 8:00 a.m.

IREM Austin: Pirate Palooza Bowling Tournament - 12:00 p.m. – 4:00 p.m.

30

U  LI Austin: Monthly Breakfast Series - 7:30 a.m. – 9:00 a.m.

*Members Only

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 SAN ANTONIO

CENTRAL SOUTH TEXAS

APRIL 17th Tobin Center for The Performing Arts

May

SOCIAL

BOMA AUSTIN L to R: LeAnne Berreth, Kelly Rabanal, Christy Rhone

L to R: Novie Allen, Dena Welch

L to R: Christina Cantu, Laura Castleton

L to R: Letty Gonzalez, Dawn Vernon

Emerging Professionals Committee MAY 11th, Summit At Lantana

CRE AUSTIN

APRIL 25th, Luncheon Four Seasons Hotel Austin, TX


BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS :ccimconnect.com 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

June

MONDAY

TUESDAY

WEDNESDAY

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

THURSDAY

FRIDAY

* TREC Dallas: Danielle DiMartino Booth (U.S. Recovery: The Fed’s Role) - 11:30 a.m. – 1:00 p.m.

5

BOMA Fort Worth: June Monthly Luncheon - 11:30 a.m. – 1:00 p.m.

6

12

14

13

CREW: Sponsorship Committee Meeting - 11:30 a.m. – 1:00 p.m.

7

9

8

CORENET North Texas: Dr. Gaines’ Economic Forecast (Luncheon) 11:00 a.m. – 1:00 p.m. BOMA Dallas: BOMI Course: Design, Ops & Maintenance, Part 1 - 5:00 p.m. – 8:00 p.m.

BOMA Fort Worth: Dina & Dash 2017 - 5:00 p.m.

BOMA Fort Worth: SAC Meeting – 3:00 p.m. – 4:00 p.m.

Ladies in CRE: Volunteer Opportunity for Family Gateway at the Farmer’s Market - 9:15 a.m. – 11:15 a.m.

CREW: Board Meeting11:30 a.m. – 1:00p.m.

CREW Fort Worth: June Luncheon- Speaker Scot Bennett, Director of Client Services, Fort Worth, Beck 11:30 a.m. – 1:00 p.m.

BOMA Dallas: BOMI Course: Energy Management & Controls - 5:00 p.m. - 8:00 p.m.

JUNE 03, SATURDAY

 OMA Dallas: YP: Golf Etiquette B 5:00 p.m. – 7:00 p.m.

June 1st through July 31st

2

CREW: Community Board Meeting– 11:30 a.m. – 1:00 p.m.

* BOMA Fort Worth: Allied Appreciation Event - 4:30 p.m. – 6:30 p.m.

BOMA DALLAS: CSC School Supply Drive

NTCAR: Commercial Broker Charity Golf Tournament - 11:00 a.m. – 6:00 p.m.

1

ULI North Texas: Breakfast Forum: Green to Gold 7:30 a.m. – 9:15 a.m.

JUNE 10, SATURDAY BOMA Fort Worth: Mobile Food Pantry (Volunteer) 8:30 a.m. – 11:30 a.m.

15

CCIM North Texas: June Luncheon - 11:30 a.m. – 1:00 p.m.

IREM Fort Worth: Joint Luncheon with Dallas IREM in Irving 11:30 a.m. – 1:00 p.m. IREM Dallas: June Luncheon & Workshop - 11:30 a.m. – 3:00 p.m. SIOR North Texas: Lone Star Panel - 5:30 p.m. – 10:30 p.m. BOMA Dallas: Engineer Lunch & Learn - 11:30 a.m. – 1:00 p.m.

16

*C  REW Fort Worth: New Member Breakfast & Orientation 7:30 a.m. – 8:30 a.m. TREC Dallas: Brew Bus Tour – 2:45 p.m.

BOMA Fort Worth: CSC Meeting - 11:30 a.m. – 12:30 p.m.

19

CCIM North Texas: EDUCATION CONNECTION/CI 103: User Decision Analysis - 8:30 a.m. – 5:30 p.m.

20

CCIM North Texas: EDUCATION CONNECTION/CI 103: User Decision Analysis - 8:30 a.m. – 5:30 p.m.

34

21

BOMA Dallas: Industrial Lunch & Learn Session -1:00 p.m.

BOMA Dallas: Networking Event: Golf Classic Team & Spectator Registration 9:00 a.m. – 1:00 p.m.

BOMA: International Conference: Nashville, TN

CCIM North Texas: EDUCATION CONNECTION/ CI 103: User Decision Analysis 8:30 a.m. – 5:30 p.m.

Ladies in CRE: Build Your Tribe/ Spring Clothing Drive – 5:30 p.m. – 7:30 p.m. CCIM North Texas: CI 103 Class Happy Hour – 5:30 p.m. – 7:00 p.m.

26

June 2017

BOMA: International Conference: Nashville, TN

27

BOMA: International Conference: Nashville, TN

* Members Only

28

22

CCIM North Texas: EDUCATION CONNECTION/CI 103: User Decision Analysis - 8:30 a.m. – 5:30 p.m.

TABB Dallas: Chapter Meeting – 11:30 a.m. – 1:00 p.m. CREW: Golf Classic Committee Meeting – 12:00 p.m. - 1:00 p.m.

29

23 JUNE 24, SATURDAY TO JUNE 28, WEDNESDAY BOMA: International Conference: Nashville, TN

30

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


NORTH TEXAS

May

L to R: Brooke Stiffler, Tara Rodeback

L to R: Laura Carter, Kim SolCruz, Jennifer DeWolfe

L to R: Lisa Rose, Beth Van Duyne, Kourtny Garrett, Rebecca Tucker, Candace Carlisle

L to R: Mary Ann Clark, Rebecca Tucker, Lisa Rose, Kourtny Garrett, Candace Carlisle, Regina McClendon, Janet Tippit, Kacie Griffith, Tia Chambers

SOCIAL

BOMA DALLAS Womenâ&#x20AC;&#x2122;s Breakfast

CREW FORT WORTH Crew De Mayo Golf Tournament

L to R: Amber Calhoun, Monica Luera, Gayle Boudreaux, Sarah LanCarte, Chris Brooks

L to R: Jarrod Carroll, Josh Bullock, Andrew Sherman, Steve Fleiner and Laurie Fleiner

L to R: Noelle Garsek, Jarrod Cone, Campell Henry, Sarah Rega

BOMA DALLAS Spring 2017 Adopt-A-Block

June 2017

35


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

June

MONDAY

TUESDAY

WEDNESDAY

GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.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

THURSDAY

FRIDAY 1

2

 CRP: 2nd Annual ACRP A Inshore Invitational - 5:15 a.m. – 5:00 p.m. * CREN: The Hess Club 11:00 a.m.

JUNE 3, SATURDAY HAA: 2017 Fun Run & Walk Benefiting Camp Hope 7:00 a.m. – 10:00 a.m

6

5

7

CREW Houston: Luncheon - 11:30 a.m. – 1:00 p.m.

* ULI Houston: Public Private Partnership Breakfast - 7:30 a.m. – 9:30 a.m.

8

C  CIM Houston: Luncheon 11:30 a.m. – 1:00 p.m.

12

13

C.R.E.A.M: June Luncheon - 11:00 a.m. – 1:00 p.m.

14

O’Connor & Associates: Hotel Forecast Lunch - 11:30 a.m. – 1:00 p.m.

9

IREM Houston: Ethics Course - Education - 8:00 a.m. – 4:30 p.m. HAA: HAA NEXT: New Pros Professional Development Breakfast - 8:00 a.m. – 10:00 a.m.

* ULI Texas Forum: Location San Antonio 10:30 a.m. – 1:30 p.m.

15

 ORENET Houston: GHP & George R Brown, C speakers; Peter McStravick & Lilyanne McClean 4:30 p.m. – 6:30 p.m. BACREN: BACREN “Summer Marketing Session” 10:30 a.m. – 1:00 p.m. IREM Houston: IREM Networking Happy Hour 5:30 p.m.

*U  LI Texas

16

Forum: Location San Antonio - 10:30 a.m. – 1:30 p.m.

CREN: Marketing Session – Education 7:30 a.m.

HAA: HAA Honors Awards - 6:00 p.m. – 9:00 p.m.

19

26

FBSCR: Monthly breakfast meeting - 7:45 a.m.

20

21

BOMA Houston: June Membership Meeting: 85th Legislature – Your Texas Update with Rep. Dan Huberty – 11:30 a.m.

27

28

ACRP: Breakfast – Judge Ed Emmett - 7:00 a.m. – 8:45 a.m.

22

23

CCIM Houston: GHP Updates for Houston and Social – 5:00 p.m. – 8:00 p.m.

29

TABB Houston: Guest Speaker: David Tolson, Exit Strategies to Successfully Sell Your Business – 11:30 a.m. – 1:30 p.m.

30

CREN: Happy Hour – 4:30 p.m.

36

June 2017

* Members Only

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.


FBSCR

SOUTHEAST TEXAS

Monthly Networking

May

L to R: Mark Vogler and Jason Scholtz

L to R: Rose Herbst , Gavin Parker, Mona Parikh and Kristin Edgeller

SOCIAL

Vino & Vinyl Social Meeting

UNIVERSITY OF HOUSTON Graduate Real Estate Program

L to R: Brook Eben, Rico Buot, Junious Williams, Philp Schneidau, Keith Richards and Drew Lewis.

L to R: Drew Lewis, Jim Carman, Brad Dinerstein and Philp Schneidau

Ric Campo

Latha Ramchand

CCIM

Luncheon

L to R: Ray Hankamer, Mary Kenner, Charles Simpson

L to R: Sarah Montgomery, Rachel Glass, Birgit Eisenkoelbl

L to R: Donnie Chang, Kirby Liu, Jim Gustafson

L to R: Greg Barra, Melanie Edmundson

L to R: Jackie Rhone, Jeff Hall, TAA President Dave Marcinkowski

Volunteers for Star of Hope's Men's Development Center

CORENET

Award Ceremony

Jeff Hall and the Houston Apartment Association staff


CENTRAL SOUTH TEXAS bulletin

HUTTO, TX MIXED-USE DEVELOPMENT MA Partners of Austin has been selected for the$105 million redevelopment of the Co-op District near the intersection of Short Street & Highway 79. The district includes 25 acres centered around a former cotton gin. Plans for the property could include offices, restaurants, a movie theater & a new city hall & police station.

Amanda Coupe has joined Stream Realty Partners in Austin as director of property management

Garrett Gilleland has joined HFF to specialize in land investment sales.

AUSTIN, TX MIXED-USE DEVELOPMENT Cielo Property Group has been chosen by the Episcopal Church as a partner in creating a mixed-use project on Block 87 downtown on Seventh St., Eighth St., Trinity St., & Neches St. Offices, shops & either apartments or condos are projected for the property. A 67,000-sf archive facility for the church will also be incorporated as part of the design. The site is currently a surface parking lot. OFFICE LEASE LogicMonitor, Inc, a SaaS performance monitoring platform based in Santa Barbara, CA. leased a 10,135 sf deal at 500 W 2nd St., which is currently under construction. The new 29-story office development in Downtown Austin is scheduled to deliver in late 2017. Chrissy Fuller & Mark Harris of Avison Young represented the tenant & Troy Holme, Casey Ford & Katie Ekstrom of CBRE represented the landlord. OFFICE LEASE Cobb, Fendley & Associates leased 16,444 RSF of office space at Centennial Towers located at 505 Huntland Dr. The landlord was represented by Matt Levin & Jason Steinberg with ECR & the tenant was represented by Jason Whittington with NAI Partners. OFFICE LEASE Outdoor Voices, Inc. leased 4,991 RSF of office space at Chavez Village, located at 110 Chalmers. The landlord was represented by Patrick Ley and Lee Ellison with ECR.

June 2017

VACANT LAND SALE An unidentified investor purchased nearly 10.5 acres at 9213 FM 973 near the intersection with US Highway 283 south of AustinBergstrom International Airport. Tucker Francis & Robby Eaves with Retail Solutions represented the seller & Janice Landers with Retail Solutions represented the buyer.

BRYAN/COLLEGE STATION, TX

RETAIL LEASE Midway has signed on five new tenants at Century Square on University Drive. Tenants include Hey Sugar, Sub-Zero, Merge Boutique, Orangetheory Fitness & Piada Italian Street Food. Century Square is a public-private collaboration between Midway & Texas A&M University.

CEDAR PARK, TX

INDUSTRIAL DEVELOPMENT Brushy Creek Corporate Center, a 16-acre industrial park is under construction at 1200 BMC Dr. between the National Instruments campus & the BMC campus along Brushy Creek Dr. The project will consist of two 231,020 sf buildings & is scheduled to open in August.

OFFICE RE-DEVELOPMENT Denver-based developer, EverWest Real Estate Partners, is redeveloping the former Balcones Resources recycling facility into creative office space. The building has 81,711 sf & is located at 2416 E. Sixth Street. Brad Philp, Edwin Beasley & Scott Deskins, Jr of Stream Realty will be leasing the space.

HUTTO, TX

OFFICE SALE Munich-Germany-based GLL Real Estate Partners has purchased Apital Ridge office Tower, a 217,000 sf building located at 320 S. Capital of Texas Highway. The building is 100% leased to Apple, Inc. & was reportedly sold for $96.1 million.

LAREDO, TX

OFFICE SALE Austin Stone Community Church purchased a 55,000 sf office complex at 916 S. Capital of Texas Highway from Vista Ridge Investors LP. Jeff Coddington & Brent Powdrill with JLL represented the seller. Bob Wynn & Ben Fuller with Cushman & Wakefield represented the buyer. The property will be utilized for the churchâ&#x20AC;&#x2122;s west campus.

38

OFFICE SUB-LEASE Fathom Water Management, Inc., subleased 14,053 sf at 12357-C Riata Trace Parkway. The tenant was represented by Carl Condon, Mark Harris & Mike Kennedy of Avison Young. The landlord was represented by Andy Carlson and Travis Rogers of JLL.

RETAIL SALE An unidentified buyer purchased a 17,802 sf building at Hansonâ&#x20AC;&#x2122;s Corner, 560 W. State Highway 79. Alan Rust of Retail Solutions represented the seller & Chuck Rodgers of Dripping Springs Realty represented the buyer.

OFFICE SALE Marcus & Millichap sold Walker Plaza a 63,714 sf office building located at 5810 San Bernardo Avenue for $4.7 million. James H. Bell & Keith E. Loyd with Marcus & Millichap represented the seller. The name & representative of the buyer were not released.

NEW BRAUNFELS, TX HOTEL SALE Top Class Hospitality, LLC purchased Holiday Inn Express & Suites, at 1436 N. Business Loop IH-35, from Baywood Hotels for an undisclosed

price. Michael Yu and Agrama Mannapperuma of CBRE Hotels represented the seller. Dennis Drake, also of CBRE Hotels, represented the buyer.

SAN ANTONIO, TX DISTRIBUTION FACILITY DEVELOPMENT The San Antonio City Council is considering incentives for a proposed 1.5 million sf distribution facility for retailer T.J. Maxx. The 200-acre property is located on FM 1937 (South Flores Road), south of I-410 & east of Highway 281. OFFICE LEASE Television streaming giant, Hulu, is leasing & renovating a building at 4511 Horizon Hill Blvd for a new 45,000 sf campus. Hulu will hire 300 workers for its opening in fall 2017 & plans to reach 500 workers by year-end 2018. RETAIL SALE A San Antonio family trust sold the 11,369 sf Callaghan Road Shopping Center located at 6007-6031 Callaghan Road to a Texas-based Limited Liability Company. Bradley Suttle, with San Antonio Commercial Advisors, an independently owned & operated member of the Cushman & Wakefield Alliance, represented the seller & procured the buyer. VACANT LAND SALE Houston-based Rockspring Capital purchased 3 acres at the southwest corner of Cesar E. Chavez Blvd & Cherry Street across from the Alamodome. Plans for the property were not disclosed. McAlister Real Estate represented Rockspring in the purchase.

SAN MARCUS, TX HISTORICAL BUILDING SALE Prime Multifamily Investors, LLC purchased a 21,500 sf historical building at 202 N.LBJ Dr. from Global Rock Investments B2, LLC. Plans for the property are not known. John Collins & Stephen DePizzo of St. Croix Capital Realty Advisors, LLC represented the seller & Aubrey Brisendine of Bristle Properties, LLC represented the buyer.

SPRING BRANCH, TX VACANT LAND SALE Craig S. Minten sold 217,974 sf at 5430 US 381 to Logical Investments, LLC. Mark Haynie of E Property Realty, LLC represented the seller and Donald Duffin of DH Realty Partners, Inc. represented the buyer.


ADDISON, TX

OFFICE DEVELOPMENT/LEASE Cawley Partners is developing a six story, 240,000 sf building named Fourteen 555 at 14555 Dallas PKWY. Occidental Petroleum Corp. signed a lease for half the building in a long term deal. The anticipated completed date is September 2018.

CARROLLTON, TX

MULTI-FAMILY SALE Aspire Ventures, LLC purchased the 143-Unit Villas de la Colonia located at 1515 Metrocrest Dr. from San Diego, California-based Communidad Realty Partners for an undisclosed price. Chris Deuillet with CBRE represented the seller.

DALLAS, TX

MULTI-FAMILY SALE Boston-based real estate investment firm, TA Realty, LLC sold a six property 2,514-unit apartment portfolio to Blackstone Real Estate Income Trust. The portfolio includes Dallas properties, as well as properties in Chicago & Orlando. Nicole Dutra Grinnell, Michael Haggerty, Jim Raisides & Luke Marchand with TA Realty were involved in the transaction & JLL represented TA Realty in the deal with Blackstone Real Estate Income Trust, a member with The Blackstone Group. OFFICE LEASE Ansira Partners leased 88,084 sf at 13155 Noel Rd. for one of its two co-headquarters. Daniel Rudd & Billy Vahrenkamp with Colliers DFW represented the tenant. Shannon Brown & Celeste Fowden of CBRE Global Investors represented the landlord. RETAIL SALE Dallas-based Stockdale Investment Group bought the 66,629 sf, Lakewood Shopping Center located at 6308 Gaston Ave. from Dallasbased Lincoln Property Co. for an undisclosed sum.

FARMERS BRANCH, TX INDUSTRIAL LEASE C&D Couriers leased 11,430 sf at 11419 Ferrell Dr. Andrew Gilbert with Holt Lunsford Commercial represented the landlord & Clay Balch with Holt Lunsford Commercial represented the tenant. INDUSTRIAL LEASE Texas Motorworx leased 11,430 sf at 11419 Ferrell Dr. Andrew Gilbert with HLC represented the landlord. Michael Griffin with Transwestern represented the tenant. INDUSTRIAL LEASE CFA Cabinetry leased 50,866 sf at Mercer Crossing located at 2250 Morgan Parkway. Stream’s Ryan Boozer represented the tenant.

FORT WORTH, TX

INDUSTRIAL DEVELOPMENT Trammell Crow Company (TCC) & JV partner PGIM Real Estate have begun construction on Phase II of 35-Eagle industrial park located on 106-acres at the northwest corner of I-35W & Eagle PKWY. The project will include three new industrial buildings: a 1,089,642-sf crossdock warehouse; a 312,654-sf rear-load warehouse & a 233,961-sf cross-dock warehouse. Completion for all three buildings is expected for late 2017. Steve Trese & Bob Scully with CBRE Dallas are leasing and marketing the project. OFFICE DEVELOPMENT A three-story office park called Connex Fort Worth will be developed on a tract at 1201 Evans Ave. The project is utilizing 40 shipping containers for development & will utilize solar power & wind turbine trees in order to create a sustainable project. The Connex office park is slated for delivery by the end of October. OFFICE SALE Chemical Management Co., Inc. sold a five building complex totaling 45,118 sf, 3700 Hulen St. JLL Managing Director Pat McDowell and Vice President Matt Montague led the sales team. RETAIL LEASE Pet Supermarket will open a 6,601 sf store in Town Center Colleyville 5611 Colleyville Blvd. Easley Waggoner Jr. with Venture Commercial Real Estate represented the landlord. Michelle Caplan & Gretchen Miller with The Weitzman Group represented the tenant.

GRAND PRAIRE, TX

INDUSTRIAL LEASE Direct Warehousing, Inc. leased 50,983 sf located at 2890 114th Street. Cannon Green & Luke Davis with Stream Realty Partners represented the landlord, Prologis. & Dan Mulford with CBRE represented the tenant.

GRAPEVINE, TX

MULTI-FAMILY DEVELOPMENT Irving-based JPI is developing a 371unit rental community in Silver Lake Crossings on SH 26 near Grapevine Mills Mall. The $325 million Silver Lake mixed-use development will ultimately include about 46,500 sf of retail space, three hotels & several office buildings.

IRVING, TX

INDUSTRIAL LEASE Pure Flow, LLC leased 14,278 sf at 3080 W. Story Rd from OnAsset Intelligence, Inc. The tenant was represented by Todd Hubbard with NAI Robert Lynn. The landlord was represented by Turner Petersen & Keenan Cook with Mercer Company.

OFFICE CONSOLIDATION DEVELOPMENT Vista Energy, the parent company of TXU Energy & Luminant is upgrading a three-story, 247,254 sf office building at 6555 Sierra Rd. in order to consolidate its corporate operations. They plan to accommodate 1,200 employees into the facility by summer of 2017.

NORTH TEXAS

bulletin

LANCASTER, TX INDUSTRIAL DEVELOPMENT Crow Holdings Capital-Real Estate is developing I-35 Logistics Crossing, a two-building industrial park near I-35 & I-20. It will feature a pair of 610,806 sf cross dock buildings at the northwest corner of Houston School & Wintergreen Roads.

MCKINNEY, TX MIXED-USE DEVELOPMENT McKinney Economic Development Corp. has contracted with KDC-led development team to build a new North Texas corporate magnet near the Sam Rayburn tollway & U.S. 75. This could ultimately encompass 1,000,000 sf of office space. The development team is moving forward with plans to develop the remainder of the 90-acre tract. MULTI-FAMILY DEVELOPMENT SWBC Real Estate, LLC is developing a 276-unit complex on 4.5-acres within Craig Ranch, the 2,200-acre master-planned community located at 6850 TPC Dr. The first units will become available by April 2018.

NORTHLAKE, TX INDUSTRIAL LEASE Farmers Brothers Coffee, a wholesaler & distributor of coffee, tea & culinary products, has opened a $90 million, 538,000 sf headquarters at 1912 Farmers Brothers Dr. Stream Realty Partners developed the facility.

PLANO, TX MEDICAL OFFICE SALE Orthopedic Network, LTD sold Plano Orthopedic, a 21,246 sf building at 5228 Wet Plano PKWY, to an affiliate of Caddis, a national investor, developer & manager of healthcare facilities. Wilson Stafford, John Mungioli & Brandon Crow of EDGE Realty Capital Markets represented the seller.

Kurt Griffin & Nathan Orbin have joined Cushman & Wakefield as executive managing directors of industrial leasing Lew Wood has joined Younger Partners to focus on multi-family & office investment sales

Ryan Crabtree has joined Coldwell Banker Commercial Advisors as vice president to expand their data center platform

Jim Fant has joined Westmount Realty Capital as Executive Managing Director – Acquisitions

Greg Blandford has joined Venture Commercial Real Estate as a senior director for restaurant tenant representation

RESIDENTIAL HIGH RISE DEVELOPMENT LVL29 by Lewisville-based NE Development is developing a 328-unit, 29-story residential tower In Legacy West located at 6000 Columbus Avenue. NE Development will begin leasing in December 2018. June 2017

39


SOUTHEAST TEXAS bulletin

BAYTOWN, TX DEVELOPMENT/LEASE Vinmar International leased 500,000 sf at Cedar Port Park on Sutton Road, off of FM 1405. The tenant was represented by Kelley Parker & Kevin Snodgrass with Cushman & Wakefield. AVERA Companies owns the land & will build the rail-served building.

CONROE, TX RESIDENTIAL DEVELOPMENT

ARNIE ALTSULER Houston-based Land Tejas is

developing Wedgewood Forest, a

MANAGING DIRECTOR new residential project on 111-acres

Commercial east of I-45 & north of SH 105. The project will have 283 homes 281/236-7777 & Investment with prices starting in the mid $200,000s. aka@altsuler.com Real Estate

GALVESTON, COMMERCIAL & INVESTMENT REAL ESTATE

TX

OFFICE SALE Balandis Real Estate AG & Griffin Partners sold the 155,147 sf 520 Post Oak Blvd office building to Griffin Partners Office Fund III. Balandis AG was advised by Eli Realty Corporation & HFF completed the sale. OFFICE SALE/RE-DEVELOPMENT Houston-based Parkway Inc. sold 49% ownership in Greenway Plaza & Phoenix Tower for $512.1 million to TH Real Estate Global Asset Management, Silverpeak Real Estate Partners & Canada Pension Plan Investment Board. Parkway plans to revitalize the 10-building campus & is starting with their management office in 3 Greenway Plaza & by adding several restaurants & eventually live music to the area. Lifetime Fitness Center will be replacing City Club.

ARNIE ALTSULER RETAIL SALE PURCHASER & TENANT REPRESENTATION OFFICE LEASE ARNIE ALTSULER

Weingarten Realty Investors sold ACQUISITION, DISPOSITION, DEVELOPMENT MANAGING DIRECTOR

the 74,604 sf Broadway Shopping Center located at 5908 Broadway Ave. to a private investor. Ryan West with HFF represented the seller.

MANAGING DIRECTOR

MAY I HELP YOU? PurchaserHOW & Tenant Representation 281/236-7777 Acquisition HOUSTON, TX aka@altsuler.com INDUSTRIAL LEASE ARNIE Disposition ALTSULER The Dupuy Group, a transport & MANAGING DIRECTOR logistics firm, leased 212,961 sf at COMMERCIAL & INVESTMENT REAL ESTATE Development 3240 S. Loop East Freeway. Boyd PURCHASER & TENANT REPRESENTATION Commercial represented the tenant 281/236-7777 & Holt Lunsford represented the ACQUISITION, DISPOSITION, DEVELOPMENT landlord, CenterPoint Properties 281-236-7777 aka@altsuler.com Each office is independently owned and operated.

HOW MAY I HELP YOU?

INDUSTRIAL LEASE aka@altsuler.com Liberty Property Trust leased ERCIAL & INVESTMENT REAL ESTATE 8,460 sf in Northgreen Business HASER & TENANT REPRESENTATION Park located at 1428 N. Sam ITION, DISPOSITION, DEVELOPMENT Houston Parkway East. The tenant was represented by Northwinds HOW MAY I HELP YOU? Commercial Realty, LLC & the landlord was represented by Justin Each office is independently owned and operated. Tunnell & Ryan Searle with Lee & Associates. Each office is independently owned and operated.

HOUSTON

Jed Mandel has joined SRA Real Estate Partners as a senior vice-president & will focus on multi-tenant & single-tenant investment sales.

Robert Nowak has joined Stream Realty Partners as managing director of property management.

40

June 2017

INDUSTRIAL LEASE Red Wing Show Company leased 29,000 sf in Beltway Southwest Business Park at 7256 S. Sam Houston Parkway West. INDUSTRIAL LEASE Houston-based NCS Multistage Holdings, Inc. has relocated their manufacturing & assembling business to 44,800 sf at 6806 Willowbrook Park more than doubling the space they occupied on Bourgeois Road. MIXED-USE SALE Houston-based Whitestone REIT is in the process of buying BLVD Place located at Post Oak Blvd & San Felipe. The office/retail development includes 216,944 sf of leasable space & is reportedly being purchased for $158 million in cash. Ryan West, Rusty Tamlyn, Wally Reid & Trent Agnew with HFF marketed the property.

Codilis & Stawiarski, P.C. leased 19,675 sf at 400 North Belt which is owned by Hartman Income REIT. The tenant was represented by Brandi McDonald with Newmark Grubb Knight Frank. Corinne Agrella & Richard Maloof represented Hartman. OFFICE LEASE New York-based WeWork leased approximately 86,000 sf at 708 Main for the purpose of creating co-working space. RETAIL DEVELOPMENT Midway has started construction on the first building in Buffalo Heights District which is a 96,000 sf H-E-B “urban prototype” store located on Washington Ave. between South Heights Blvd & Studemont. An additional 2,000 sf retail space will be built alongside of it for onsite & to-go dining options. RETAIL/RESTAURANT DEVELOPMENT Baker Katz is developing 20,000 sf in two multi-tenant buildings along Beltway 8 in east Houston to accommodate retail & restaurant tenants in the Ship Channel area. Baker Katz was represented by Chris Pitts with Streetwise Retail Advisors.

KATY, TX MEDICAL OFFICE SALE Arizona-based Healthcare Trust of America purchased Duke Realty Corp’s 6.6 million sf medical office portfolio for $2.8 billion. The Houston properties include three medical office buildings in Katy that are located on the campus of Houston Methodist’s Christus St. Catherine Hospital. RETAIL SALE Urbahns Property Group bought the 8,500 sf, Grand Crossing II center located at 23641 Katy Freeway from Edifis Group.

Ryan West with HFF represented the seller.

LEAGUE CITY, TX MEDICAL BRANCH EXPANSION The UTMD in Galveston is planning a $145 million expansion for its League City campus that will include a new 60-bed hospital, a parking garage & additional building space. The project would be divided into two phases & should be completed by 2020.

PASADENA, TX INDUSTRIAL DEVELOPMENT Houston-based United Equities, Inc purchased just under 6-acres at Sam Houston Tollway & Meadow Wood Drive for the development of Beltway-225 Business Park. The project will include a 21,000 sf crane-ready building & a 18,500 sf crane-ready building & the company will retain 3.6-acres for build-to-suit development. Travis Land & Michael Keegan with NAI Partners represented the buyer. RETAIL LEASE Dirt Cheap, a deep-discount chain, has leased 24,000 sf at FairmontPreston Plaza, 4801 Fairmont PKWY in Pasadena; 27,927 sf at Westfield Shopping Center, 201 FM 1960 West in Spring; & 24,483 sf at Meadow Park Shopping Center at 2625 Bypass, 35 North in Alvin.

SPRING BRANCH, TX MASTER-PLANNED DEVELOPMENT Scottsdale, AZ-based Meritage Homes bought the 116-acre, Pine Crest golf course located at 3080 Gessner Rd. from MetroNational. Meritage Homes plans to build single-family homes ranging from the high $200,000 to the mid $500,000. HFF & CBRE had the listing on the property.

SPRING, TX OFFICE DEVELOPMENT A group venture including Patrinely Group, LLC, USAA Real Estate Company & CDC Houston are constructing CityPlace 2, a 327,000 sf office building at the intersection of I-45, the Grand Parkway & the Hardy Toll Road in Springwoods Village. It will be the first office building in the 60-acre CityPlace mixed-use urban development. HFF arranged the construction loan.

TOMBALL, TX RESIDENTIAL DEVELOPMENT Alexander Estates will be developed along HuffsmithKohrville Rd. in Tomball. It encompasses 70-acres & will accommodate 251 homes upon completion.


ADVERTISER INDEX A. A. Realty Company 24 Al Ross Sign Group 44 BACREN 29 Bearden Investments 14 Berkadia 2, 3, 17 Caldwell Companies 25 Capital Retail Properties 1, 15 City of Seabrook 19 Greenberg & Co. 10 Hankamer & Associates 14 Homeland Properties, Inc. 14

classifieds & index JLL Houston 5 KW Commercial 40 McCord Development , Inc. 22, 23 Old Mill Properties 16 Phase Engineering 30 Premier Property Services, Inc. 16 Robert Ryan Realtors, Inc. 10 Showalter Law 41 Tarantino Properties 11 Wendy Cline Properties 13 Zarsky Industries 7

New Feature..."Wants & Needs" If you're searching for "hard to find" properties, this classified section allows you to let the market know exactly what you're looking for.

WANTS/NEEDS 2nd Generation Restaurant Spaces Anywhere in and around Houston; Contact Donnie Chang, Jimmy Chang, or Laura Diggs; 713-939-8181

In Next Month's Issue... Water Rights

Land in low or flood plain areas, minimum 20 acres; Contact Donnie Chang, Jimmy Chang, or Laura Diggs; 713-939-8181

Protecting Property Owner’s Rights

Eminent Domain Compensation for Roads • Pipelines • Power Lines

www.ShowalterLaw.com

281-341-5577 • Info@ShowalterLaw.com

North Texas CCIM Chapter


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

CCIM Luncheon May 11, 2017

Speakers: Frank and Kirby Liu of POST HOUSTON; Jim Murnane of Imperial Market ‑ Sugar Land

POST HOUSTON: Frank Liu and his son Kirby made a fascinating presentation of their plans to re-concept the old downtown Houston Central Post Office, located walking distance from the theatre district, and between I-10 and Buffalo Bayou. To be implemented in several phases, this ambitious project will become a hub binding together several Houston neighborhoods and centers of activity, including the CBD, the theatre district, Buffalo Bayou Park, and the Washington Corridor, to name a few. Instead of the University Line, the first east west METRO connection may well continue west from in front of POST HOUSTON out to the NW Transit center, connecting to the proposed high speed rail line to Dallas. This connection would link Uptown’s Bus Rapid Transit now under construction to Houston’s existing light rail network.

30,000 SF of basement space for assembly and testing and sales of finished products. Also to be included will be the world’s largest rooftop garden.

Citing that Houston is the # 4 luxury shopping city in the U.S., POST HOUSTON will have a significant retail component. It will boast 1300 parking spaces on grade, making it easy to park and access POST HOUSTON and Buffalo Bayou Park through a to-be-built pedestrian / bicycle tunnel.

A Houston version of Rome’s Spanish Steps – a world meeting place – will be included in POST HOUSTON, as will be a theatre facility tuned to younger audiences. Although our theatre district sports the second largest number of seats after Broadway, the current offerings by our theatres, with their more classical fare- are having trouble attracting Millenials.

The Lius (Lovett Homes) have engaged OMA Architecture, which has a reputation for striking projects which transform cities. The Liu family sees a need to bring back to Houston the world recognition and focus it enjoyed during and following NASA’s moon landing.

A skybridge and elevator will allow Buffalo Bayou Park users to mount to the rooftop garden. Also included will be a mammoth food court, offering foods from a wide variety of cultures, all under one roof.

Today we have the second largest concentration of engineers in the U.S. after Silicon Valley, and this has gone unrecognized. So this grand project will include live-work units with high ceilings, and tenants in this “incubator” setting will have access to

The huge vacant facility has already hosted the AIA Gala, and, as part of the Super Bowl festivities, a crowd of 20,000, which attended the Sports Illustrated Swimsuit Party.

IMPERIAL MARKET: The iconic Imperial Sugar Refinery on Hwy 90 in Sugar Land (get the connection?) has been purchased by former banker Jim Murnane and his partner, Geoffrey Jones, who developed Houston’s House of Blues. The two developers will reconcept the refinery and surrounding buildings into a large mixed-use facility, which will include an Alamo Cinema, a Childrens’ Museum, a multi-family development by Sueba, a Marriott Autograph Collection hotel, a farmers’ market, retail shops, and above all, walkability in a historic setting. 42

June 2017

New construction will be intermixed with the existing historic buildings, but the new buildings will blend in with the existing buildings, which date back to the 1920s. The development will be a glittering addition to a community which already sports Constellation field, numerous major corporations, and the second largest concentration of medical facilities outside of the Texas Medical Center. (The Imperial Market is adjacent to the existing rail line which has been mentioned as a future commuter rail from Ft. Bend County into Houston)


Have you today? get your marketing on track in our next issue


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AL ROSS SIGN GROUP SET TO MAKE ITS MARK ON HOUSTON

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Rednews June 2017  
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