FEBRUARY 2019
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
The Reserve at Shadow Creek Highway 288 & Discovery Bay Dr. | Pearland, Texas Brad LyBrand | 281.477.4300
For more information, see page 23
Up to 27 Acres available For Sale or Lease
±27 ACRES
MC HA RD RD
AVA I L A B L E
Southdown 1,500 Homes
COMING SOON
Approved Curb Cut
6,093 Homes
IT
FUTURE MEDICAL
SM
OLL R 288 T
Shadow Creek Ranch
H RA CH RD
Retail / Medical/ Restaurant Sites Available Mixed Use Development with Heavy Medical Concentration Direct Connection to SH 288 Toll Road 3Q 2019 All utilities available & off-site detention provided Prime SH 288 Frontage
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Tenant Representation
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FEBRUARY 2019
Property Management
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B U S I N E S S
P A R K
NEW CLASS A BUILDING FOR SALE OR LEASE
CLASS A OFFICE | SHOWROOM | DISTRIBUTION SPACE 28420 WEST TEN BOULEVARD | KATY, TEXAS
AERIAL MAP
238,000 SQUARE FEET
GRAND PARKW AY
99
LOCATION MAP
BUILDING 3
GEORGE BUSH INTERCONTINENTAL AIRPORT D P KW Y
29 ACRES AVAILABLE BUILD-TO-SUIT
59
45
249
LAN
238,000 SF
INTERSTATE
I S L A N D PARKW AY
NE
CA
P A R K
99
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R EE WA
B U S I N E S S
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K AT Y F
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INTERSTATE
290
90
3 MIN
10 MIN 15 MIN
CITY OF
30 MIN
theGalleria
KATY, TX
59
45
610
45 MIN
CBD PORT OF HOUSTON INTERSTATE
610
HOBBY AIRPORT
59
THE BEST LOCATION IN THE WEST New
Class A State-of-the-Art office / showroom / distribution facility with prominent glass entries provides Tenants a strong corporate identity and productive working environment. cross dock design (340’) with ample parking can accommodate a wide variety of users and provides maximum loading doors or room for trailer storage. 32’ Clear height, ESFR, and 60’ speed bay.
Shallow
Adjacent 29 acres to meet expansion needs or a Build-to-Suit. Large
institutional owner-sponsor can move quickly to meet needs. Many large national companies are located within or in close proximity
to the park. These users include: Igloo, Amazon, Medline, Rooms to Go, Costco, Pepperl-Fuchs, Southern Glazer’s, and Goya Foods.
225
45
SUGAR LAND
288
CLEAR LAKE
UNPARALLELED VISIBILITY AND ACCESS TO I-10
CONTACT INFORMATION BRIAN GAMMILL 713.270.3321 brian.gammill@transwestern.com
JUDE FILIPPONE 713.270.3318 jude.filippone@transwestern.com
DARRYL NOON 713.270.3325 darryl.noon@transwestern.com
The 2information provided herein was obtained from sources believed reliable; however, Transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this FEBRUARY 2019 property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. Copyright © 2019 Transwestern.
BERKADIA HOUSTON
LAND SITES
±4.88 ACRES | ROSENBERG, TX
±2.14 ACRES | ENERGY CORRIDOR
Located at the hard corner of a fully signalized intersection in Brazos Town Center. Full utilities in place and off-site detention.
±420’ of frontage on Eldridge Pkwy. and two curb cuts. One of the last remaining tracts of land in Houston’s Energy Corridor
±35 ACRES | CROSBY, TX
±6.45 ACRES | LEAGUE CITY, TX
Immediate access to US Highway 90 and Kennings Rd., and minutes to Beltway 8.
Part of the Riverbend at Clear Creek waterfront development, site is ideal for retail development, with easy access off of both I-45 and FM 518.
KRISTEN MCDADE Senior Director T: +1 713 469 4509 kristen.mcdade@berkadia.com
MATT DAVIS Associate T: +1 713 974 2407 matt.davis@berkadia.com
LAUREN GEARY Transaction Manager T: +1 346 444 8968 lauren.geary@berkadia.com
FEBRUARY 2019
3
IN THIS ISSUE
8
12
22
24
Market
Sales & Leases 1-3, 5, 7, 9, 11, 13, 15-19, 21, 23
Services
Aerial Photography 15 CCIM Houston 18, 29 Environmental 30, 43 Financial 15
26
Scoop
Events 32, 34, 36 Social 33, 35, 37 Bulletin 38 – 40
Features Look out, 2019 8, 10
Everything is Hotter in Texas 12, 14
Legal 11 Property Tax 17 Real Estate Summits 20, 44
Ready for the Reserve? 22, 28 Ridin’ The Airwavz 26, 27 RAY’S BUZZ CCIM January Luncheon 16 Trailblazer’s CRE Summit Takeaway 24, 25
4
FEBRUARY 2019
FEBRUARY 2019
5
Letter from the Publisher
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
PUBLISHER Ginger Wheless ginger@REDNews.com
EDITOR Margie Gohmert info@REDNews.com
STAFF WRITERS Janis Arnold janisarnold1@gmail.com Ray Hankamer rhankamer@gmail.com Brandi Smith info@REDNews.com
Dear Readers,
O
ur Houston Trailblazer’s event on January 18th drew a diverse group of individuals who spent the morning networking with a select group of well-respected commercial real estate professionals regarding the keys to their success in our industry.
Although we’re moving at a faster clip today, on the ground and in the cloud, the character attributes of the successful CRE professional have remained consistent throughout the generations: honesty, integrity and customer service are the basics for success, as well as direct communication. It was interesting and refreshing to hear that no matter the age, the definition of direct communication is still defined as through a phone call or a person-to-person meeting. (You can read Ray’s full recap of the event on pages 24-25.) The Texas economy is alive and well according to PwC & ULI’s 2019 Emerging Trends report as well as CBRE’s industrial and office expectations for the year. According to Patrick Jankowski, Sr. VP Research with the Greater Houston Partnership, there is no recession in sight for the Texas or the national economy which is good news for all. Our March issue will focus on land and retail as well as feature some of the Texas hot spots for development. And on March 14th, we will be hosting a Texas Opportunity Zone summit which will shed more light on IRS regulations and strategies for QOZ investing, so mark your calendar to attend. Have a wonderful February and a Happy Valentine’s Day!
MANAGING DIRECTOR Benton Mahaffey accounting@REDNews.com
EMARKETING DIRECTOR emarketing@REDNews.com
CREATIVE DIRECTOR Terry Martinez digital@REDNews.com
SALES Ginger Wheless ginger@REDNews.com
PRINT & DIGITAL DISTRIBUTION REDNews is directly mailed each month to commercial real estate brokers, investors and developers throughout Texas and the US. Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387
TOTAL QUALIFIED ONLINE REDNews DISTRIBUTION: 50,458
Best Regards,
REDNews has gone green using recycled paper. Thank you Midway Press!
Ginger Wheless
To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription. 2537 S. Gessner, Ste. 126 Houston, TX 77063
6
FEBRUARY 2019
45+/- Acres - IH 45 Southbound Feeder 45+/- Acres - IH 45 Southbound Feeder
VAILABLE | LA MARQUE RENAISSANCE DISTRICT VAILABLE | LA MARQUE RENAISSANCE DISTRICT Street | La Marque, Texas 77568
Street | La Marque, Texas 77568 SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568 SITE AVAILABLE | LA MARQUE RENAISSANCE DISTRICT 401 Laurel Street | La Marque, Texas 77568
LOCATION MAP LOCATION MAP
RETAIL TRADE AREA MAP
• 4 miles north ofAREA Galveston RETAIL TRADE MAP Island • 4 miles north of Galveston Island • 15 miles southeast of Houston • 15 miles southeast of Houston • Geographic center of County • Galveston Geographic center of
Galveston County • ACCESS, PORTS, INDUSTRY, • RAIL ACCESS, PORTS, INDUSTRY, RAIL EXISTING RETAIL • All this behind a MAP hurricane protection levee system EXISTING RETAIL • All this behind a MAP hurricane protection levee system
AVAILABLE SPACE Total BuildingSPACE Area 4627 SF AVAILABLE
Total 80 People Total Indoor BuildingSeating Area 4627 SF Total Outdoor Seating 16 People Total Indoor Seating 80 People
Site Details TRAFFIC COUNTS Total Seating 16 People SiteOutdoor Details
TRAFFIC COUNTS Interstate 45 - 61,305 AADP Source: TXDOT 2016 TRAFFIC COUNTS Texas Avenue - 11,820AADP AADP Source: TXDOT 2016 TRAFFIC COUNTS Interstate 45 - 61,305 PROPERTY Source: TXDOT 2016 INFORMATION Texas Avenue - 11,820 AADP
PROPERTY INFORMATION
• City utilities. Source: TXDOT 2016
PROPERTY INFORMATION •• More than 1600 linear feet of frontage on the southCity utilities. bound feeder road. •PROPERTY Well trafficked downtown adjacent to INFORMATION • More than 1600 linear feet ofspace frontage on the south-
Extends from Delany tospace the I-45 southbound Post Office and Road across the street from to the bound feeder road. ••the Well trafficked downtown adjacent feeder road and positioned between the future off Marque Economic Development Corporation •La Extends from Delany Road to the the I-45 southbound the Post Office and installed across street from the and on ramps being as part of the TxDOT Office feeder roadEconomic and positioned between the future off La Marque Gulf Freeway expansion.Development Corporation and on ramps Parking being installed part of the TxDOT • Office 31 Customer Spotsas and additional 6 • Gulf $1 billion investment for new road infrastructure in Freeway expansion. employee parking spots • 31 Spots and additional 6 years. La Customer Marque andParking Galveston County over the next 10 $1 billion investment for new road infrastructure in ••employee Ideal Restaurant/Cafe/Deli Location parking spots • Offered at $4.00/sqft. La Marque and Galveston County over the next 10 years. • Ideal Restaurant/Cafe/Deli Location
•DEMOGRAPHICS Offered at $4.00/sqft. (based on data) 2017 data) DEMOGRAPHICS (based on 2017 DEMOGRAPHICS (based on data) 2017 data) DEMOGRAPHICS (based on 2017 Variable
RTA
1-Mile
3-Mile
5-Mile
Variable 2017 Population
RTA 97,186
1-Mile 8,365
3-Mile 38,344
5-Mile 73,130
2017 Population 2017 Workforce
97,186 40,969
8,365 3,237
38,344 15,184
73,130 29,939
Alex Getty, Director | www.theretailcoach.net P.O. Box 7272 | Tupelo,Executive MS 38802 | 800.851.0962 2017 Workforce 40,969 3,237 15,184 29,939 Average HH Income $67,184 $52,717 $54,483 $59,939 La Marque Economic Development The information contained herein was obtained from sources believed to be reliable; however, The Retail Coach, Corporation makes no guarantees, warranties, or representations as to the Alex Getty, Director completeness or accuracy thereof. The presentation this property is| submitted subject to errors, |omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. P.O.ofBox 7272 Tupelo,Executive MS 38802 800.851.0962 | www.theretailcoach.net agetty@lmedc.com Average HH Income $67,184 $52,717 $54,483 $59,939 Laobtained Marque Economic Development The information contained herein was from sources believed to be reliable; however, The Retail Coach, Corporation makes no guarantees, warranties, or representations as to the 39.2 37.6 37.4 37.7 Median Age 409-938-9258 completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. r Vice President Alex Getty, Executive Director agetty@lmedc.com Median Age Area; the geographic 39.2 37.6 37.4 37.7 R.E. Smith, Jr. area from La Marque Economic Development Corporation **RTA RTA––Retail RetailTrade Trade Area; the geographic areawhich from which r Vice President Alex Getty,409-938-9258 Executive Director retailers derive approximately 80-85% of their business. retailers derive approximately 80-85% of2019 their business. 281-703-1425 FEBRUARY 7 ach.net agetty@lmedc.com Smith, Jr. Area; the the geographic area from La Marque R.E. Economic Development Corporation **RTA RTA––Retail RetailTrade Trade Area; geographic areawhich from which RSmith@SuburbanCommercialProperties.com retailers derive approximately 80-85% of their business. 409.938.9258 retailers derive approximately 80-85% of their business. 281-703-1425 ach.net agetty@lmedc.com RSmith@SuburbanCommercialProperties.com
LOOK OUT, 2019
CBRE runs down its industrial & office market expectations
BY BRANDI SMITH
T
he new year holds promise for strength and
2018 vacancy rate at a historic low of 4.3 percent and
growth, per the recently released U.S. Real
not enough new construction to keep up with demand,
Estate Market Outlook from CBRE Research.
it’s anticipated that rent rates will continue to rise.
On the industrial front, the report highlights record
Due to the increasing price point on I&L square footage,
levels of demand generated by e-tailers looking for
CBRE also predicts a trend of multi-story warehouse
distribution
development in
centers.
2019. Seven such
Alternately, traditional retailers are also seeking logistics space as they adapt to the
“...highly likely that with continued near-full employment, strong hiring, a strong dollar and robust consumer confidence, imports will not level off.”
needs of
projects are already in the works in cities such as New York City and San Francisco. Distributors scouring for “last-mile” delivery locations are
the online customer. Users absorbed between 75 million
for 3 percent of grocery sales this year, but by 2024, FMI/Nielsen anticipates they’ll reach 13 percent, which translates to $100 billion. With only 5.6 billion cubic feet of industrial and/or retail food storage in the market, this side of e-commerce offers potentially explosive
to 90 million square feet in the industrial and logistics
compromising with smaller infill lots that go vertical. Similarly, expect to see demand for cold storage
sector each year since 2013, a trend CBRE’s analysts
escalate this year. Online services, such as those
CBRE’s outlook also touches on the “contentious
expect will extend into 2019 and beyond. With the Q3
offered by Whole Foods and Kroger, only accounted
international trade environment” that may threaten
There is a growing shift toward multistory warehouse development in the U.S.
8
FEBRUARY 2019
growth.
Source: CBRE Reseach, Q3 2018
Continued on Page 10 >
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• 24 ft Clear Height • +/- 12K, 16K, 20K, or 32K SF Spaces • 10’ x 12’ Grade Level Front Load Doors • $6.00/SF/YR NNN • 1-Dock High Truckwell • 2 1/2% Annual Increases • Estimated Opex $2.40/sf/yr Leon Valley • High Quality Tilt Wall Buildings Balcones Heights • ESFR Sprinklers Olmos Park • High Pile Storage Ready • Ample Parking Woodlawn Lake Park • LED Lighting 515 Richland Hills Drive • 480 V/3 PH Electricity San Antonio Museum of Art • Owner-Managed 35 • Private, Deed-restricted Park San Antonio • Move-in Ready 410
421
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151
Patricia Gassmann • Bearden Investments 223 Hull Lane • Sugar Land, Texas 77498 • 281.568.4185 • patriciag@beardeninvestments.com
90
37
90
Lackland AFB
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FEBRUARY 2019
9
LOOK OUT, 2019 < Continued from Page 8
imports and, therefore, the need for warehouse space. Despite concerns, its experts say it’s “highly likely that with continued near-full employment, strong hiring, a strong dollar and robust consumer confidence, imports will not level off.” The most fascinating part of CBRE’s breakdown of the 2019 office market is the shifting definition of Class A office space. The report attributes that to “lots of adaptive re-use projects, local retail, great livework-play environments and partnerships with local universities to attract and retain talent.” More than ever, users are looking for flexible, experiential offices. Not unrelated, the office market is also benefiting from the rise of coworking companies. They doubled their share of leasing activity between 2017 and 2018. Though the labor market is still tight and slower job growth is expected in 2019, specific markets are keeping office demand up. STEM users are driving that demand, accounting for more than 30 percent of major office leasing activity. That’s great news for Houston and Austin, which are leading the way in the sunbelt and tech markets. Houston and DFW are also two of the Top 5 cities expected to bring in jobs in 2019. With office vacancy rates hovering around 13 percent, CBRE projects that 54 million square feet of new office
Source: CBRE Reseach, Q3 2018 Note: 2018 = YTD through Q3; data includes the 25 largest transactions by sq. ft. each quarter for each of the 54 markets tracked by CBRE Research. STEM includes high-tech and health care/life sciences leasing activity. Business services includes flexible space providers as well as accounting, consulting, employment services and real estate firms.
product is slated to hit the market this year, which is on pace with 2018. Nearly half of that is being built in cities where lack of supply and increased demand are driving up rent. In other markets, however, the report predicts positive net absorption could slow compared to last year.
Overall, the tone of CBRE’s outlook was positive, highlighting the fact that there is still plenty of capital to deploy. Emerging U.S. markets are likely to see a good share of that as investors test “new lows on yield - simply to deploy capital.”
Source: CBRE Reseach, Q3 2018 Connecting employees to their building, available services and extended community through technology will be a focus for landlords and employers alike in 2019.
10
FEBRUARY 2019
Source: CBRE Reseach, Q3 2018
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EVERYTHING IS HOTTER IN TEXAS DFW, ATX, SAT & HOU markets make big moves
BY BRANDI SMITH
F
or our REDNews readers, the Emerging Trends in Real Estate 2019 report that just came out probably holds few surprises, though it does reinforce what we’ve known: this is going to be a great year for commercial real estate in Texas. The report, published by PwC and the Urban Land Institute, ranks the nation’s hottest markets to watch each year and, in 2019, three Lone Star markets made it into the Top 20.
DALLAS / FORT WORTH Let’s begin our Texas tour in Dallas, which snagged the top spot on the list this year, up from No. 5 last year. “The chief economist for an institutional investor
“Dallas/Fort Worth…top spot on the list this year... potential for strong future growth…”
Source: Shutterstock
Downtown Austin Texas
remarked that Dallas/Fort Worth is an interesting market, one with the potential for strong future growth, but also with the liquidity of a gateway market,” notes the report. Similar markets include New York City, San Francisco, Boston and Los Angeles. The North Texas market also got high marks for economy (No. 1 in the U.S.), homebuilding prospects (No. 6 in the U.S.), public and private investment (No. 4 overall), industrial buy/sell/hold transactions (No. 8 in
the U.S.) and retail buy/sell/hold transactions (No. 19 in the U.S.) to name a few. Dallas and Fort Worth were highlighted as part of a trend of less retail square footage. It’s in the Top 20 when it comes to largest decreases. That’s not necessarily a negative, though. As the demand for retail declines, that space is being repurposed or replaced. “In turn, these can be seen as creating new opportunities for a range of other activities,” the report suggests. The Dallas metro market is also seen as one benefiting from “fundamental demographic and economic shifts.” In 2017, new Census Bureau estimates suggested DFW grew by 146,000, drawing from both international and domestic migration.
AUSTIN
“Austin…sixth-best market for real estate prospects in 2019…” Downtown Fort Worth Texas
12
Source: Shutterstock
FEBRUARY 2019
Continued on Page 14 >
Convenient Central Location close to the Medical Center
• Prefer long term Sale/Leaseback or owner will vacate for a user.
Call David Gerber at 713-774-9124 • david@gerberrealty.com
610
Cull en B lvd
603 0 En glan d Str eet
Cull en B lvd
Sco tt St
Yello wsto ne B lvd
Grigg s Rd
Sco tt St
• Allied Powder Coasting, a 38 year Houston company occupies 71,086 sf on 3.84 acres which is the greater part of 3 adjacent city blocks at 6030 England Street inside 610 near SH 288 & OST.
SH 2 88
Old Spanish Trail
Calh oun Rd
gerber realty
Investment or User Opportunity with a Well-Established Company
Yello wsto ne B lvd
610
GReenberg & Company Commercial Real Estate Brokerage Firm
Retail/Office Space Available| Great Locations MAJOR THOROUGHFARE | GREAT VISIBILITY
5900 Memorial Dr. | Houston, TX 77007
RETAIL/ OFFICE SPACE AVAILABLE • MAJOR INTERSECTION • EASY ACCESS TO DOWNTOWN This three - story Office/ Retail Building was Renovated in 2016. It has a three level parking garage with building identification and one elevator. This property is situated on the corner of Memorial Drive and Westcott. 1,162 - 4,597 SF AVAILABLE | PRICE: CALL FOR DETAILS
20,000 SF AVAILABLE
421 Fannin St. | Houston, TX 77057 RETAIL/ OFFICE SPACE AVAILABLE • EXCELLENT LOCATION • MAJOR TRAFFIC This is a two- story Retail/Office building with immediate access to I-69 East, I-45 South and I-10 North. The building is encased with framed windows giving high visibility of premier Retail/Medical/Office space.
20,000 SF AVAILABLE | PRICE: CALL FOR DETAILS
The information contained herein was obtained from sources deemed reliable; however, no guarantees, warranties or representations are made as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
5959 Richmond Avenue, Suite 440 Houston, TX 77057 WWW.GREENBERGCOMPANY.COM
Broker Contact: David Greenberg | Phone: 713-778-0900 FEBRUARY 2019 EMAIL: DAVID@GREENBERGCOMPANY.COM
13
EVERYTHING IS HOTTER IN TEXAS < Continued from Page 12
the 2019 list. Ranked in the No. 60 spot (out of 79) last year, it’s now No. 37. A contributor to that growth is Houston’s position as an international market. It comes in third behind Washington, D.C., and San Francisco for markets with the most cross-border capital. In Houston, investors registered for a 23 percent share of volume in 2017. The international trade market, though, is also an area of concern, per the report. It warns any negative impact could disrupt demand for industrial in Houston. As the largest city in Texas, Houston doesn’t show signs of slowing down its population growth either. Like Austin and DFW, it’s not just pulling in more people; younger people are moving in, helping drive labor and the economy. Downtown Houston Texas
Source: Shutterstock
Population growth is also behind Austin’s high ranking this year. It’s expected to bring in three times the new residents of the U.S. average. Not just that; a significantly higher percentage of those folks are in the highly desirable 0-to-24 and 25-to-44 age groups. Having a younger population helped drive the capital city to the No. 3 spot when it comes to homebuilding prospects and also provides a quality labor force. Though it fell from the No. 2 spot last year, Austin still holds its own as the sixth-best market for real estate prospects in 2019. One factor holding it back is the lack of affordable housing, which also poses an issue for DFW. The issue in Austin is “sheer demand,” according to the report, while NIMBYish (not in my back yard) is “slowing down the development of workforce housing” in Dallas.
last year.) Like the other cities in Texas, a population boom is helping to strengthen its economy, creating a hospitable environment for development. The report says San Antonio is No. 3 in the country when it comes to development and redevelopment opportunities, ranking just behind Miami and Portland, Oregon. A focus group also noted that the second largest city in Texas is primed for more modern office facilities.
HOUSTON Though it didn’t make it into the Top 20 like the rest of its Texas counterparts, Houston did still make gains on
Another unique quality of Houston’s market that garnered the report’s attention: investments and incentives from the public sector. The report references Houston’s city council making “the first changes to flood regulations in ten years, requiring new construction and retrofits to be two feet above the 500-year floodplain.”
OVERVIEW Overall, 2019 promises to be another banner year for Texas markets, whether you’re operating in hot spots like Dallas-Fort Worth and Austin or San Antonio and Houston.
SAN ANTONIO
“San Antonio…a population boom is strengthening its economy…primed for more modern office facilities” It’s the rising cost of materials more than anything else that seems to be contributing to the lack of affordable housing in San Antonio, which claimed the No. 20 spot for real estate prospects. (It was No. 18 14
FEBRUARY 2019
Downtown San Antonio Texas - Riverwalk
Source: Shutterstock
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Investment Properties Available 1210 Central Street - Houston Ship Channel
• +/- 1950 SF Metallic Warehouse on
9163 SF land .
• Conveniently located near the
Houston Ship Channel
• Formerly used as a workshop • For Sale or Lease
3500 McGowen St.
1210 Central St.
Hillhouse Rd. - Close to Medical Center
• +/- 5 Acres Ready for Development in High
Growth Area
• Ideal for Medical Suites, Retail, Townhomes or
Senior Living
• Hillhouse Road just off Broadway & just west of
Cullen Blvd.
• Easy access from Hwy 288, Cullen Blvd (FM 865)
& Telephone Road (SH 35)
• Nearby neighbors include Texas Children’s Pediatric Center,
Grocery Stores, Killen’s Steakhouse, Luxury Car wash, etc.
3500 McGowen St. - University Park • University Park Business Corridor • SWC McGowen Steet & Scott Street Cleared & ready for development • Near the heart of University Park business district • Easy access to mass transit • 2282 SF plus adjacent 10,000 SF can be made available
Hillhouse Rd.
Marsha Fisk
Coleman & Co., REALTORS Direct Voice (832) 452-7869 marsha@marshafisk.com
www.marshafisk.com FEBRUARY 2019
15
“My reputation is built on Client and Customer Satisfaction”
ray’s buzz BY RAY HANKAMER rhankamer@gmail.com
CCIM January Luncheon
Speaker: Patrick Jankowski, Sr. V.P. Research-Greater Houston Partnership Takeaway: No recession in sight for the Houston or for the national economy. • Oil prices need to find their ‘sweet spot’ for both the Houston and the national economies
PATRICK JANKOWSKI
• ‘Recession’ is defined as two consecutive quarters of negative growth-in spite of the negative things in the news these days, a recession does not appear to be indicated any time soon • In fact, the economy is still expanding locally and nationwide as measured by all indicators • The US economy expanded by creating 312,000 jobs last month, which is strong, and more jobs = more consumer buying power • The US economy last month showed 3.9% unemployment, which is tantamount to full employment • Consumer confidence is still rising; consumer debt is at a low point, so if a recession were to come we would be in good shape to handle it • Commercial and industrial loan delinquencies are way down and household balance sheets have been cleaned up • US GDP was about 3.9% last quarter; capital expenditure index still rising; home permits rising; retail sales overall continue to climb • Houston economy is strong as well, with retail steady and picking up; purchasing managers’ index rising, and projected job growth in 2019 of 71,000 • Our oil industry was largely profitable again in 2018, although not yet at prior levels • Import and export volumes in Houston up, making international trade an increasingly large part of our local economy • Houston has a net in-migration of about 100,000 annually and 45% of new jobs are held by immigrants, which are a very important part of our local economy; 25% of Houstonians were born in another country • Countries like Japan which have negative population growth and restricted immigration have economies which are suffering • Many international companies are either opening or expanding a presence in our city; many more are choosing Houston than the Dallas-Ft. Worth Metroplex
16
FEBRUARY 2019
Source: The Economy at a Glance Houston
January 2019
March Publication Retail / Vacant Land / Texas Development Texas Economic Development Ad Deadline February 12, 2019 An ad in REDNews includes the following: • Print and Digital Magazine Inclusion • Featured in weekly REDNews’ Newsletter throughout the month • Distribution to 50K CRE Brokers, Investors, and Developers Each Week • Featured on REDNews.com (30K Visits/Month)
DISTRIBUTION 15,325
Houston
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PRIME RETAIL/RESTAURANT SPACE ON INTERSTATE 10/KATY FREEWAY HIGH GROWTH KATY AREA (88.8% INCREASE SINCE 2000) Ideal Location • Excellent Visibility • Extremely High Traffic Count
New Retail: Katy Mills Plaza 2404 Texmati
Pre-Leasing: The Shops at Cane Island 27252 Katy Freeway
Shadow Anchored by Bass Pro & Katy Mills Mall
• On Interstate 10 in front of Katy Mills Mall • 1,020 SF – 20,000 SF Available • End Caps with potential drive-thru • $50/sf Tenant Improvement Allowance • Near new Katy Convention Center • Up and coming area with National Credit Tenants minutes away • Adjacent to Katy Mills Mall, Texas Typhoon & the new Katy Boardwalk District
Shadow Anchored by Buc-ee’s
• On Interstate 10 and next to Buc-ee’s • 1,500 sf – 19,543 SF Available • $20/sf Tenant Improvement Allowance • End Caps with potential drive-thru & pad site • Close proximity to Cane Island’s 1,100 acre master planned community • Ground leases available
New: Shopping Center Coming to West Ten!
West Ten Business Park near Buc-ee’s
• On Interstate 10 at Cane Island • 6000 SF Available • $30/sf + NNN • In the prime West Ten Business Park near Buc-ee’s • Close proximity to Cane Island’s 1,100 acre master planned community • Extremely high daily traffic • Great visibility • Ideal location in Katy Katy Mills Plaza 2404 Texmati
Shopping Center Coming to West Ten!
The Shops at Cane Island 27252 Katy Freeway
Joe Rothchild, Broker | 713-857-0567 | rothchil@yahoo.com 920 South Fry Road, Katy, Texas 77450
FEBRUARY 2019
17
Each office independently owned and operated
REGISTER NOW! 26th Annual CCIM Commercial Real Estate Forecast Competition Date: February 15, 2019 Time: 8:00 AM Location: Norris Conference Center – City Centre Keynote Speaker: Mark Dotzour, PhD.
ccimhouston.org
HANKAMER & ASSOCIATES BROKERS, L.L.C.
Hospitality Consulting Services 40 Years Experience As Hotel Developer, Owner/Operator and Commercial Broker
Offering Properties & Hotel Consulting
PROPERTIES AVAILABLE • 1/3 Acre - Clarewood @ Atwell - Houston • Freeway Sites - I-20 - Monahans, TX (Permian Basin) • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotels - Statewide
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Ray Hankamer, Jr FEBRUARY 2019 713.922.8075
rhankamer@gmail.com / www.hankamer.com
THE REAL DEAL IN INDUSTRIAL REAL ESTATE. THE THE REAL REAL DEAL DEAL IN IN INDUSTRIAL INDUSTRIAL REAL REAL ESTATE. ESTATE.
6510 Bourgeois Rd Houston, TX 77066 • • • • • • • • • • •
• • • • • • • • • • •
Crane Manufacturing Near Beltway 8 & 249 6510Served Bourgeois Rd Houston, TX 77066 +/-115,551 SF total situated on 13.27 acres 6510Served Bourgeois Rd Houston, TX 77066 Crane Manufacturing Near Beltway 8 & 249 Entire property fully stabilized with paved/crushed concrete +/-115,551 SF total situated on 13.27 Crane Served Manufacturing Near acres Beltway 8 & 249 Three access points to the property & 17 overhead doors Entire property fullysituated stabilized concrete +/-115,551 SF total onwith 13.27paved/crushed acres Two 40 ton cranes / two 10 ton cranes Three points the property & 17 overhead doors Entire access property fullyto stabilized with paved/crushed concrete Includes fab shop, paint and blast booth Two ton cranes two 10property ton cranes Three40access points/ to the & 17 overhead doors Includes fabcranes shop, paint blast booth Two 40 ton / two and 10 ton cranes Ron Roberson CCIM, SIOR | RRoberson@CaldwellCos.com Includes fab shop, paint and blast booth David Claros | DClaros@CaldwellCos.com Ron Roberson CCIM, SIOR | RRoberson@CaldwellCos.com David CCIM, ClarosSIOR | DClaros@CaldwellCos.com Ron Roberson | RRoberson@CaldwellCos.com David Claros | DClaros@CaldwellCos.com
4133 Southerland Rd Houston, TX 77092 R&D,4133 Distribution and Heavy Manufacturing Facility Southerland RdDuty Houston, TX 77092 • +/-57,890 SF total situated on 3.93 acres Southerland RdDuty Houston, TX 77092 R&D,4133 Distribution and Heavy Manufacturing Facility • 2,000 amp power • R&D, +/-57,890 SF total situated 3.93 acres Distribution and Heavy on Duty Manufacturing Facility • +/-16,000 SF two story office • 2,000 ampSF power +/-57,890 total situated on 3.93 acres • 28' eave height • +/-16,000 two story office 2,000 ampSF power • Ideal for research and development • 28' eave height +/-16,000 SF two story office • Ideal for height research and development 28' eave Bill Ginder CCIM, SIOR | BGinder@CaldwellCos.com • Ideal for research and development John Ginder | JGinder@CaldwellCos.com Bill Ginder CCIM, SIOR | BGinder@CaldwellCos.com John Ginder | JGinder@CaldwellCos.com Bill Ginder CCIM, SIOR | BGinder@CaldwellCos.com John Ginder | JGinder@CaldwellCos.com
4201 Dayco Street Houston, TX 77092
8850 N Sam Houston Pkwy W Ste 320 Houston, TX 77064
Heavy4201 Duty Dayco Manufacturing Laydown Available Street with Houston, TXYard 77092 +/-30,135 SF warehouse 4201 Dayco Street Houston, TX 77092 Heavy Duty Manufacturing with Laydown Yard Available Includes ample laydown yard +/-30,135 warehouse with Laydown Yard Available Heavy Duty SF Manufacturing +/-21' eave height Includes laydown yard +/-30,135ample SF warehouse 600 amp power +/-21' eave height Includes ample laydown yard 5 & 10 ton crane-served 600 amp power +/-21' eave height 5 & 10 tonpower crane-served 600 amp Bill Ginder, CCIM SIOR | BGinder@CaldwellCos.com 5 & 10 ton crane-served John Ginder | JGinder@CaldwellCos.com Bill Ginder, CCIM SIOR | BGinder@CaldwellCos.com John Ginder | JGinder@CaldwellCos.com Bill Ginder, CCIM SIOR | BGinder@CaldwellCos.com John Ginder | JGinder@CaldwellCos.com
Light Manufacturing/Distribution Available - Sublease 8850 N Sam Houston Pkwy W Ste 320 Houston, TX 77064 •8850+/-43,457 SF total with +/-2,522 SF office N Sam Houston Pkwy W Ste 320 Houston, TX 77064 Light Manufacturing/Distribution Available - Sublease • Front load configuration • +/-43,457 SF total with +/-2,522 SFAvailable office - Sublease Light Manufacturing/Distribution • 30' clear height • Front loadSF configuration +/-43,457 total with +/-2,522 SF office • 12 dock high doors & 1 ramp • 30' clear height Front load configuration • 40' x 52' column spacing • 12 doors & 1 ramp 30'dock clear high height • Sublease through 7/31/2019 • 40' x 52' high column spacing 12 dock doors & 1 ramp • Sublease throughspacing 7/31/2019 40' x 52' column Ron Roberson CCIM, SIOR | RRoberson@CaldwellCos.com • Sublease through 7/31/2019 Ron Roberson CCIM, SIOR | RRoberson@CaldwellCos.com Ron Roberson CCIM, SIOR | RRoberson@CaldwellCos.com
Houston | The Woodlands | College Station | Caldwellcos.com | 713.690.0000 Houston | The Woodlands | College Station | Caldwellcos.com | 713.690.0000 Houston | The Woodlands | College Station | Caldwellcos.com | 713.690.0000
FEBRUARY 2019
19
Real Estate
present
Opportunity Zones Summit
and Real Estate Tax Deferred Strategies
Topics to Include: •Real Estate Tax Strategies: Opportunity Zones •Legal Considerations for Opportunity Zones •Approved Texas Opportunity Zones •How were the Texas Opportunity Zones selected? 4 Hours of Real Estate Continuing Education Credits applied for with the Texas Real Estate Commission •Real Estate Tax Deferred Strategies – 1031 Market Update •TREC Provider # 10163
TO BE ANNOUNCED
•TREC Instructor # 4153
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For More Information Contact: Ginger Wheless | REDNews | 713-661-6300 | Ginger@rednews.com FEBRUARY 2019 Jeff Johnson | Real Estate Summits | 952-405-7780 | jeff.johnson@resummits.com
RETAIL
| OFFICE | MEDICAL | SPACE FOR LEASE
WOODLAND PARK SHOPPING CENTER
800 -7,350 SF available on first floor. Excellent for medical office. Base rent $15.00-$18.00 PSF & NNN $4.80 PSF
+/- 592’ of frontage on Westheimer
372 surface parking spaces available
Traffic counts - 82,880 CPD (Westheimer)
Pylon signage available
Aggressive lease terms
11380 Westheimer Houston, 77077
AA 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
END CAP FOR RESTAURANT/RETAIL
Premium High Traffic/Income Area in West Houston – NWC Briar Forest & Wilcrest • 6,224 SF Available (Can be divided) • 27,688 VPD on Briar Forest • 21,675 VPD on Wilcrest • Generous Build Out I-10
GESSNER RD
BELTWAY 8
N KIRKWOOD RD
R T A GRE
N W I L CR E S
DAIRY ASHFORD RD
N A R U A T ES
I-10
T DR
BRIAR FOREST DR
BRIAR FO REST
E
T I S T
DR BELTWAY 8
2022 Population Projection
1 Mi Ring
3 Mi Ring
5 Mi Ring
30,091
200,391
518,842
2017 Estimate
26,967
181,434
468,253
Total Aggregate Income ($1mil)
$1,130.9
8,823.6
$18,123.8
Average HH Income
$92,067
$107,376
$94,952
Median Household Income
$62,767
$74,015
$65,463
Contact: Mark Adkins Adkins Properties Company
713-782-3222
Cell: 832-712-2935 • Markapc9@gmail.com FEBRUARY 2019
21
READY FOR THE RESERVE? Only 27 acres remain in booming Pearland development
BRAD LYBRAND
ALLEN CROSSWELL
BY BRANDI SMITH
L
ike any metropolitan area, Houston is surrounded by a web of suburbs, a mass of bedroom communities where its workers can affordably raise their families. Each has its own vibe and rhythm, a cadence by which those families live. Over time, that beat can change; it can slow down as a growing city plateaus or it can speed up, from a barely imperceptible sound to a racing heartbeat. For an example of the latter, look just beyond Houston’s southern boundaries to Pearland, recently named by WalletHub as the third fastest-growing economy in America. Its sociodemographics helped it snag that spot, topping the list for working-age and college-educated population growth. “If you go back to the early 2000s, the west side of SH 288 was all prairie. Looking at the historical imagery, it really is amazing,” says Brad LyBrand, a commercial real estate broker with NewQuest Properties. With the company’s help, that property has seen explosive growth. In 2008, Allen Crosswell, NewQuest’s managing principal, acquired 150 acres along SH 288, just south of Beltway 8. “When he closed, he made simultaneous sales
Source: Shadow Creek Ranch
to Memorial Hermann and Kelsey-Seybold. Then periodically over the years, we sold off some sites for multi-family, retail and medical development,” LyBrand explains. The result is Shadow Creek Ranch, a huge residential
base of 6,500 lots. The Reserve at Shadow Ranch is the 150-acre retail core butted up against the freeway. It already boasts pads for restaurants such as Panda Express, Hooter’s and a proposed Freddy’s Frozen Custard. Sam’s Club developed its site several years ago and Rooms to Go recently purchased acreage as well. Encompass Health, formerly HealthSouth, groundleased about 5.5 acres. Some of the property has been sold to retail and hotel developers. Slowly, that 150 acres has been whittled down to roughly 27 acres of prime development opportunity with several pieces in active negotiation for a variety of different uses. “Going through a recession, holding all the land, making these land sales, it was challenging at times for sure,’ says LyBrand. “But it’s turned out to be the retail hub of Pearland and SH 288.” Traffic numbers are only expected to increase as the Texas Department of Transportation finishes its construction of a SH 288 toll road. When it’s complete, it will stretch from the Texas Medical Center past Highway 6, running right past The Reserve at Shadow Ranch. Even better, one of its exits, a T-ramp at SH 288 and Discovery Bay, will feed directly into The Reserve. “That will be the main way residents of Shadow Ranch Creek enter the toll road,” LyBrand says.
Source: Shadow Creek Ranch
22
FEBRUARY 2019
It also helps that, in a way, Pearland has become akin to the Med Center - South. That’s in part due to the medical developments at The Reserve. Continued on Page 28 >
THE RESERVE AT SHADOW CREEK RANCH PEARLAND, TEXAS
UP TO
27 ACRES
PROPOSED
COMING SOON
•
Up to 27 acres available in one of the fastest growing retail markets in USA
•
8 miles south of Texas Medical Center and 12 miles south of Houston CBD
•
Adjacent to HCA Pearland Medical Center, Encompass Health, Kelsey Seybold, and Memorial Hermann
•
High density utilities available and off site detention provided
•
Direct ingress and egress from SH 288
•
Toll road projected to open 3Q 2019
Brad LyBrand 713.438.9516 blybrand@newquest.com
FEBRUARY 2019
23
ray’s buzz BY RAY HANKAMER rhankamer@gmail.com
TRAILBLAZERS COMMERCIAL REAL ESTATE (CRE) SUMMIT, JANUARY 18 Presented by: REDNews, Riverway Title, and AIRWAVZ
Entering the CRE Industry Moderator-Martin Bronstein, BHW Real Estate. Panelists: Mike Boyd, Boyd Commercial; Ed Page, Streetwise Retail; Bill McDade, William McDade Company; Robert Watson, Robert C. Watson Associates
Takeaways: • Some enter CRE by accident and happenstance, and some with firm idea of what they want to do
• Always verify / double-check data you glean from CoStar and other sources-it could be entered wrong in their systems
• We must always work with clients who want to see us get paid, and we should not be shy to filter out time-wasters, and we should ‘fire’ clients when warranted
• Be sure and “see the people” and “see the property” and don’t get lazy and try to conduct business just from data you lift off your computer screen
• Huge changes have come to our industry with time-saving technology, but it is interpersonal relationships which remain the most important to be successful in CRE
• You need to be a specialist and to have a niche; you need to be known for specialized talents
• Showing your dedication to professionalism by earning your CCIM or SIOR is extremely important and gives you access to many resources worldwide
• Large international CRE firms have their strong points but as a smaller shop, you have your strong points as well; some clients prefer large, and some small; if you are good at what you do, you can compete in a small shop
• In some ways CRE is easier now than fifty years ago, but in some ways more difficult, such as navigating more governmental regulations at various levels, ranging from getting local building permits to satisfying national regulations • Overall Houston is a market which is favorable to development and general CRE activities, thanks in part to TXDOT and Harris County Toll Road Authority keeping up with our mobility needs • Punctuality is always very important in dealing with our busy CRE clients • It is more important to get off our screens and get out and build new and maintain existing relationships with clients face-to-face; both are important but don’t overlook one for the other • Clients like to have a relationship with a knowledgeable broker whom they can trust, someone who ‘puts a face on their development projects’ • In this day and time everyone has access to the same information and data in our industry; what YOU do with that data will distinguish you from your competitors
• Don’t reject doing small deals-they often lead to larger relationships • If you are a pro, you will “get in the weeds of the details” for your client so he does not have to…this is what he is paying you to do…to read and understand the small print for him • Some brokers advocate going to closings, sometimes in two sessions: first with seller, and the next day with buyer; some brokers do not attend closings so they will not be pressured by either or both sides to cave on part of their commissions. Never cave. • Your reputation is you biggest asset-you will be remembered by how you conduct yourself professionally and not by how much money you made • Participate in your community and its organizations; give back; be available to mentor young people entering into business…in doing so you will meet and learn from new people and just might find new clients in the process
Generalization & Specialization/Small & Large Moderator-Abe Goren, Wilson, Cribbs + Goren. Panelists: Bob Cromwell, Moody Rambin; Marty McAdams, McAdams Associates; David Hightower, Midway Companies; Al Ross, Al Ross Group
Takeaways:
• What motivates you? You must be passionate about what you do, and relevant; enjoy what you do, provide a service, and fill a need • Besides providing for your family, you should leave a legacy by building a personal ‘brand’; you should be passionate about creating something to leave behind • If you do what you do for love and fulfillment, the money will follow
• With communications at the speed of light it is difficult to meet your clients’ expectations of responsiveness, but responsiveness is important-an impatient client can call your competitor if you do not get back with him in a timely fashion • Houston has a super atmosphere for business, and those with an entrepreneurial spirit will always be given a chance to add value in their industry
• Be a mentor to someone just starting, to help them grow; take the time and make the effort with upcoming professionals and you will be in their good ole boy network for the span of their career, and they will be in yours
• Don’t be fearful of cycles in CRE, but plan for them and use them to your advantage; buy when property is distressed, and sell when values are soaring; when the private sector slows down, do deals for the public sector; consider property management as a sideline to your brokerage, and that may see you through slow brokerage periods
• Large firms can feel too large and structured, and small ones can feel more like playing on a team-choose the one which fits your personality
• Never give up
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FEBRUARY 2019
JOHN HAMMOND PRESIDENT & CEO RIVERWAY TITLE
GREG BARRA CCIM, SIOR, BOYD COMMERCIAL
DAVID HIGHTOWER ABE GOREN EXECUTIVE VP SHAREHOLDER, WILSON, DEVELOPMENT, CRIBBS + GOREN MIDWAY COMPANIES
ERIC BARVIN PRESIDENT, THE BARVIN GROUP
MARTY MCADAMS CEO, MCADAMS ASSOCIATES
MIKE BOYD PRINCIPAL, BOYD COMMERCIAL
DAN BRAUN PRESIDENT, BRAUN ENTERPRISES
BILL MCDADE PRINCIPAL, WILLIAM A. MCDADE
ED PAGE JUSTIN PATCHEN MANAGING PARTNER, PRINCIPAL, BUFFALO STREETWISE RETAIL REAL ESTATE PARTNERS
MARTIN BRONSTEIN FOUNDER & SENIOR PRINCIPAL, BHW REAL ESTATE
BOB CROMWELL MANAGING DIRECTOR, MOODY RAMBIN
AL ROSS CEO, AL ROSS GROUP
JAY CUTLER REGIONAL DIRECTOR, SOUTH REGION, AIRWAVZ SOLUTIONS
ROBERT WATSON PRESIDENT, ROBERT C. WATSON ASSOCIATES
• When you encounter a new problem, don’t be shy about asking contemporaries for advice-it will usually be good and be freely given
• Learn what your competition is offering, so you can explain to the client why your deal is better
• Develop filters in dealing with people, but give people a fair listening-to to begin with
• When you reach the point where you are financially secure, only then are you truly in control of your life
The Future of Commercial Real Estate Moderator- Jay Cutler, AIRWAYZ Solutions. Panelists: Greg Barra, Boyd Commercial; Eric Barvin, The Barvin Group; Justin Patchen, Buffalo Real Estate Partners; Dan Braun, Braun Enterprises
Takeaways: • Huge resources are available to CRE practitioners which were unheard of only a few years before: for market research, for stats on competitors, for all kinds of other data
• Technology is creeping more and more into multi-family, with phones serving as keys, online billing and rent payment, amazon lockers for receiving deliveries, etc.
• A successful CRE professional must know how to not only collect the data, but to organize it to put in into a form which matches the needs of his client; one must know how to choose what is important and ignore the rest
• Reputation is your main asset, and one strike and you are ‘out’ with regard to your ethical reputation
• Information from technical sources must be massaged and then presented by an experienced professional to the client
• How to deal with negative reviews of your product or service on social media? Overwhelm it with positive reviews-encourage your satisfied customers to post their comments online-technology can magnify the negative voices, unfortunately
• Intuition, which is only gained from experience, is just as important -if not more so – than a ton of data
• Just in last five years, significant tech progress has crept into construction standards and into our buildings; today sensors can report water leaks to building managers, for example
• Will brokerage disappear one day and be performed by computers relying solely on market data? Possible in some applications, such as renting apartments (which sometimes in the past involved locator/brokers), or in low end residential sales • Complicated deals will always require human interaction
• Different customers at different price points expect different levels of technology in the buildings they are leasing, whether apartment, industrial, retail, or office FEBRUARY 2019
25
RIDIN’ THE AIRWAVZ
Firm provides economical solutions for poor wireless coverage inside buildings JAY CUTLER
BY BRANDI SMITH
W
e’ve all been there: as part of a conversation or meeting, you pull out your phone to show something of interest only to run into the dreaded delay. Either the app can’t load at all or your group sits gathered around your phone as it takes an absurd amount of time to display what you wanted to showcase. “These days, no one can survive without at least one wireless mobile device. Some people have several,” says Jay Cutler, the director of emerging markets and special projects for Airwavz Solutions. “It’s a great source of frustration for people when they go somewhere to do business and they cannot use these devices for which they’re paying a lot of money.” On occasion the app itself is to blame, but more times than not, you’re buried inside a building of concrete and steel with windows covered by a film that blocks outdoor cellular signals. It’s really no surprise that you can’t access a decent cell signal, is it? Five years ago, perhaps you could have answered ‘yes’ to that question, but the demands of the customer or client no longer allow that. “Millennials today want a work environment where they’re not tied to a desk. Anyone under the age of 35 basically needs to be mobile in their work environment because
Source: Airwavz.com In-building wireless capability is quickly becoming an indicator of tech-forward buildings, and tenant rep brokers and tenants are noticing
they do not sit in a cubicle much anymore. That’s the environment we live in,” Cutler adds. “And more and more companies are doing away with office landlines all together as a cost-saving measure.” He offers himself up as an example. Cutler spent 20 years in the U.S. Air Force, working as a spectrum engineer and gaining telecommunication skills for eight of them. Once he retired in 2004, Cutler says he hasn’t had a traditional office job since. “I’ve been mobile my entire career. I work from my home office, then I’m on the road,” he says. “It can be extremely frustrating when you’re trying to do business with people, and you cannot use your phone to pull up whatever data you need to share with them to conduct business.” His crew at Airwavz has heard the horror stories and is working to solve the problem in properties all over the country. The team designs, develops, owns and operates wireless infrastructure platforms as a service for building owners and enterprise customers. The company’s leadership team has been involved in the wireless industry since its inception. Over the past three
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FEBRUARY 2019
decades, they’ve helped deploy billions of dollars of wireless infrastructure.
“These days, no one can survive without at least one wireless mobile device. Some people have several…” - Jay Cutler “We were founded about six and a half years ago to solve a problem in the telecom industry in building coverage for the cellular carrier,” Cutler says. “We came up with a solution that actually solves that problem
Source: Airwavz.com
in an economical way.” The solution to the poor-signal problem, Cutler explains, has been around for years. Until now, however, it’s been prohibitively expensive. “We’ve developed a method that makes it very economical,” he says. Carriers, such as AT&T, Verizon, T-Mobile and Sprint, took on the challenge for themselves when it came to projects such as NRG Park, Cutler says. In that case, it’s an issue of brand protections. Those carriers wanted
users to be able to take video, send pictures and post to social media while at a Texans game, for example. They’re unable to do that in every building - new and old - in the country, though. Airwavz works with developers to outfit new buildings with the technology that will allow its tenants unmitigated cell service, but it can also retrofit buildings ranging from Class-A office to industrial facilities to hospitals and hospitality venues. “Because the buildings can actually put that cost into their operational expenses and charge it back to the tenants (if they want to recoup their costs), it’s no longer a capital expense to them,” Cutler says. “That works for everybody.” The experience and tools of Airwavz extend beyond just basic cellular service as well. “Laws are being passed that require public safety systems in buildings to allow police and fire radios
to operate throughout a building. We solve those problems as well. We can solve WiFi problems,” says Cutler. “We want people to know there are solutions available and there are economical ways to get them done. Ubiquitous wireless service inside a building isn’t an amenity; it’s a must-have for business and security.” He adds that, as executives across the country have realized the opportunities offered by Airwavz, the company has experienced incredible growth. Based in Charlotte, Airwavz launched in Houston first, followed by Dallas. Now Cutler is traveling to Seattle, Los Angeles, San Francisco, Austin, San Antonio and Denver to open those markets up as well. “We’re growing quickly. It’s pretty exciting,” Cutler says. “Word is spreading fast and we’re very happy about it.” To learn more about Airwavz Solutions and how its technology can work for you, visit Airwavz.com or call 833-AIRWAVZ. FEBRUARY 2019
27
READY FOR THE RESERVE? < Continued from Page 22
“There’s about $350 million dollars worth of medical projects that are under development or have recently opened,” says LyBrand. “If we were having this conversation 10 years ago, you could not have a baby in the city of Pearland because there wasn’t a hospital. You either had to go over to League City or up to the Med Center. Now you have an ever-growing number of beds that are available.” The population growth isn’t limited to Pearland either. SH 288 provides easy access to the heart of Houston, even from areas farther south. “There are large patches of what looks like undeveloped land between Beltway 8 and Highway 6 on SH 288. It’s all been assembled by developers who are working on new master-planned communities. South of County Road 59, Pomona is being developed by Hillwood Communities and they sold 215 new homes in 2018. Sedona Lakes, developed by Landeavor, is on the east side of SH 288 across from Pomona. Rodeo Palms, Meridiana and Sterling Lakes are all a little further south and actively delivering lots to home builders,” LyBrand says. He acknowledges that the intersection of SH 288 and Highway 6 might seem a ways out to people who call the Inner Loop home, but it’s only 20 minutes from downtown. Compare that to the 45-minute (on a good day) drive from The Woodlands. “That proximity to the Texas Medical Center and downtown Houston, along with all the associated big economic drivers and job creation projects are generating a wide variety of economic factors that are just really honing in on the SH 288 Corridor,” says Lybrand. “I don’t see that stopping any time soon. I think you’ll just see continued growth all the way down SH 288.” LyBrand has already witnessed considerable growth in the area. A native Houstonian, he moved away for a time during college at Southern Methodist University, but returned in 2006. At the time, his father was syndicating some land along SH 288. “I went to work for him, getting in on the land side. I learned about MUD districts, entitlements, syndication, brokerage, zoning, wetlands, permitting and everything else you could possibly think of,” he remembers. “Flash forward to 2011, my father and I merged with Allen Crosswell and eventually merged with NewQuest Properties. We’ve been working together ever since.”
28
FEBRUARY 2019
The SH 288 expansion includes three major interchanges.
NewQuest Properties, LyBrand boasts, has a great system loaded with great people. With nearly 50 brokers, he knows he has the support of a large network as he works on properties stretching all
Source: Drive288.com
over the greater Houston MSA and keeps the beat of Pearland’s booming economy. Adds LyBrand: “It’s been one of the top retail markets in Texas for the past 10 years and it will continue to grow.”
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26th Annual 26th Annual CCIM CCIM Speakers Speakers Commercial Commercial Real Estate Real Estate Defender Challenger Moderator Moderator Defender Forecast Forecast Competition Competition RETAIL
Ben Brown Baker Katz
OFFICE
RETAIL
Josh Jacobs Edge
Date: February Date:15, February 2019 15, 2019
Rich Pancioli, CCIM CBRE
Damon Thames Time: 8:00 AM Time: 8:00 AM Colvill
Carson Wilson Carson Wilson Ben Brown Fidelis Fidelis Baker Katz
OFFICE
Speakers Defender Challenger Challenger
RETAIL
Ben Brown Josh Jacobs Josh Jacobs Baker Katz Edge Edge
OFFICE
Michelle Wogan MichelleRich Wogan Pancioli,Rich CCIM Pancioli, Damon CCIMThames Damon Thames TranswesternTranswestern CBRE CBRE Colvill Colvill
Location: Location: INDUSTRIAL INDUSTRIALINDUSTRIAL Norris Conf. Norris Center Conf. – City Center Centre – City Centre Will Hedges Will Hedges Rob Stillwell, CCIM Drew Coupe, CCIM Rob Stillwell, Rob CCIM Stillwell, Drew CCIM Coupe,Drew CCIM Coupe, CCIM Newmark
MULTIFAMILY Ryan Epstein Berkadia
LAND
Davis Adams HFF
MEDICAL
Chris Wadley JLL
Stream
Keynote Speaker: Keynote Speaker: Mark Dotzour, Mark PhD. Dotzour, PhD. Jennifer Campbell Marcus & Millichap
Triten
Triten Newmark
Newmark Stream
Stream
MULTIFAMILY MULTIFAMILY
Ryan Terrell Ryan Terrell Ryan EpsteinRyan Epstein Jennifer Campbell Jennifer Campbe Greystar Greystar Berkadia Berkadia Marcus & Millichap Marcus & Millicha
LAND
LAND
Dave Ramsey NewQuest
Taylor Schmidt, Taylor CCIM Schmidt, Davis CCIM AdamsDavis Adams Dave Ramsey Dave Ramsey Lee & Associates Lee & AssociatesHFF HFF NewQuest NewQuest
Brandy Bellow CBRE
Ashley Cassel Ashley Cassel Chris WadleyChris Wadley Brandy Bellow Brandy Bellow TranswesternTranswestern JLL JLL CBRE CBRE
MEDICAL MEDICAL
ccimhouston.org ccimhouston.org
FEBRUARY 2019
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SCOOP The following pages contain a calendar of Texas CRE events, networking photos, and deals/announcements. For more updates, log on to REDNews.com Trailblazers Summit - January 18
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CENTRAL SOUTH TEXAS
FEBRUARY
2019 1
FRIDAY
REC Austin - Knockout Night [6:30pm - 11:30pm] CBA Austin - KON After Party [10:30pm - 12:00am]
4 MONDAY
REDNews Newsletter [4:00pm]
5 TUESDAY
IREM Austin - Board Meeting * Invitation Only [11:30am - 1:00pm]
6 WEDNESDAY
CCIM Central Texas - 4th Annual Joint Summit with CREW Austin [7:30am - 11:30am] CREW Austin - Commercial Real Estate Summit with CCIM [7:30am - 11:30am]
18 MONDAY
REDNews Newsletter [4:00pm]
19 TUESDAY
IREM Austin - Industry Partners Lunch [11:30am - 1:00pm]
Austin - Lunch with Guest Speaker Vicky Schiff, Mosaic 20 WEDNESDAY ULI Real Estate [11:30am - 1:00pm] CREW Austin - Shadowmatch: CREW Professional Development Program [4:00pm - 6:00pm]
21 THURSDAY
BOMA Austin - Luncheon [11:30am - 1:30pm]
25 MONDAY
REDNews Newsletter [4:00pm]
26 TUESDAY
CCIM Central Texas - Networking Luncheon: Property Taxes [11:00am - 1:00pm]
TABB Austin - Luncheon [11:30am - 1:00pm]
CTCAR - Discovering Commercial Real Estate [1:00pm - 4:00pm]
7 THURSDAY
BOMA Austin - Foundations of Commercial Real Estate Management [8:30am - 4:30pm] CTCAR - TREC Legal Update I & II [8:30am - 5:30pm] IREM Austin - Past Presidentâ&#x20AC;&#x2122;s Luncheon [11:30am - 1:00pm]
11 MONDAY
REDNews Newsletter [4:00pm]
12 TUESDAY
IREM Austin - Luncheon [11:30am - 1:00pm]
14 THURSDAY
ULI Austin - Coffee Chat (Central) - Learn how to get involved with ULI [8:00am - 9:00am]
TABB San Antonio - Luncheon [11:30am - 1:00pm]
REDNews March Issue Deadline [5:00pm]
BOMA Austin - Seminar: CAM Reconciliations: Soup to Nuts! [8:30am - 10:30am] 32
27 WEDNESDAY ULI Austin - Breakfast Series: Homelessness [7:30am - 9:00am]
FEBRUARY 2019
28 THURSDAY
IREM San Antonio - Board Meeting *Invitation Only [11:00am - 12:30pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
BOMA AUSTIN: bomaaustin.org/ BOMA SAN ANTONIO: bomasanantonio.org CBA: cbaaustin.org/ CCIM CENTRAL TEXAS: ccimtexas.com CREW AUSTIN: crewaustin.org
CREW SAN ANTONIO: crew-sanantonio.org CTCAR: ctcaronline.com IREM AUSTIN: iremaustin.org IREM SAN ANTONIO: iremsanantonio.org
RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com TABB AUSTIN: tabb.org/austin_chapter.php
whatâ&#x20AC;&#x2122;s going on
TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org
CREW Austin 20 19
Board of Director s
ICSC Shelby Krause with Old
ham Goodwin
ctors
19 Board of Dire BOMA Austin 20
CCIM San Antoni
o Vogel Developm
tion Executive Amy
BOMA Austin Associa
Ables
ent Competition at UTSA Ernest and Chris Clemen Lee Brown IV ts FEBRUARY 2019
33
NORTH TEXAS
FEBRUARY
2019 2 SATURDAY
BOMA Dallas: Awards Banquet & Ceremony [6:00pm - 10:00pm]
4 MONDAY
CCIM North Texas - CI 101: Financial Analysis for Commercial Investment Real Estate [8:00am - 5:00pm] REDNews Newsletter [4:00pm]
5 TUESDAY
ULI North Texas - Center for Leadership & Key Leader Luncheon [12:30pm - 2:00pm]
BOMA Fort Worth - SAC Meeting *Invitation Only [3:00pm - 4:00pm] BOMA Dallas - BOMI Course: Energy Management & Controls [5:00pm - 8:00pm]
CREW Fort Worth - Luncheon: Twinning & Winning in Commercial Real Estate [11:30am - 1:30pm] CCIM North Texas - Happy Hour [5:30pm - 7:00pm]
7 THURSDAY
CORENET North Texas - New Member Breakfast [7:30am - 9:00am] IREM Dallas - Update on Homeland Security [11:00am - 1:00pm]
14 THURSDAY
Greater Fort Worth Association of Realtors - Charter School Field Trip [8:30am - 1:00pm]
15 FRIDAY
ULI North Texas - Young Leader Group Networking Coffee [7:30am - 8:30am]
18 MONDAY
REDNews Newsletter [4:00pm]
20 WEDNESDAY BOMA Fort Worth - CSC Meeting *Invitation Only [11:30am - 12:30pm] 21 THURSDAY
BOMA Dallas: Real Estate Principal Member Breakfast [7:30am - 9:30am] CCIM North Texas - Luncheon [11:30am - 1:00pm] NTCAR - Office Academy [3:00pm - 6:00pm]
BOMA Dallas - Dart Tournament [3:30pm - 9:00pm] BOMA Dallas - BOMI Course: Design, Operation & Maintenance of Building Systems, Part 1 [5:00pm - 8:00pm]
8 FRIDAY
TREC Dallas - Young Guns New Member Coffee [8:00am - 9:00am]
11 MONDAY
REDNews Newsletter [4:00pm]
12 TUESDAY
ULI North Texas - Breakfast Forum: “Amazon’s Loss, Will DFW Gain?” [7:30am - 9:30am] REDNews March Issue Deadline [5:00pm]
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TREC Dallas - Market Matters [7:00am - 9:00am]
BOMA Fort Worth - Luncheon [11:00am - 1:00pm]
BOMA Fort Worth - Allied Council Committee Meeting *Invitation Only [1:00pm - 2:00pm]
6 WEDNESDAY
13 WEDNESDAY
FEBRUARY 2019
REC Fort Worth - Panther Den [5:00pm - 7:00pm]
25 MONDAY
REDNews Newsletter [4:00pm]
26 TUESDAY
BOMA Fort Worth - Board Meeting *Invitation Only [12:00pm - 1:30pm]
28 THURSDAY
TABB Dallas - Luncheon [11:30am - 1:00pm] BOMA Fort Worth - PAC Event for Principals [5:00pm - 8:00pm] NAIOP North Texas - Comedy Night [6:30pm - 10:00pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS: ccimconnect.com/ ccimnorthtexas CORENET NORTH TEXAS: northtexas.
corenetglobal.org CREW DALLAS: crew-dallas.org CREW FORT WORTH: crewfw.org GFWAR: gfwar.org IREM DALLAS: irem-dallas.org
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
IREM FORT WORTH: fortworthirem.org LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR: scr-fw.org
whatâ&#x20AC;&#x2122;s going on
ULI North Texas Holiday Party Crowd at
h Evan Smith; CEO of Texas
um Legislative Update wit
For ULI North Texas Breakfast
The Artisan
Tribune
ULI North Texas Holiday Part y Kelly Ansley (Stewart Title), Lesley Leahy (SGDesign, Inc.) and Luc y Billingsley (Billingsley Co.)
NAIOP - North Texas Comedy Night Flyer
ULI North Texas Holiday Party Mark Bartlett (Woodworks) and Marsha Getto-Aikens (HKS, Inc.)
FEBRUARY 2019
35
SOUTHEAST TEXAS
FEBRUARY
2019 4 MONDAY
REDNews Newsletter [4:00pm]
5 TUESDAY
CREMM - 3rd Annual Sunset Yoga [6:00pm - 8:00pm]
6 WEDNESDAY
CREW Houston - 2019 Houston Economic Outlook [11:30am - 1:00pm]
8 FRIDAY
ULI Houston - UrbanPlan Volunteer Training [8:00am - 5:00pm]
11 MONDAY
BOMA Houston - BOMI Course: Budgeting & Accounting [8:00am - 5:00pm] REDNews Newsletter [4:00pm]
12 TUESDAY
18 MONDAY
REDNews Newsletter [4:00pm]
19 TUESDAY
FBSCR - Monthly Meeting [8:00am - 9:00am]
ULI Houston - Capital Markets Discussion - Hosted by Young Leaders & Rice University RE Club [6:00pm - 8:00pm]
IREM Houston - Budgeting, Cash Flow & Reporting for RE Investments [8:00am - 5:00pm]
- Happy Hour - 2019 Kick-Off to Cook-Off 20 WEDNESDAY ACRP [5:00pm - 7:00pm]
21 THURSDAY
IREM Houston - Managing Maintenance Operations & Property Risks [8:00am - 5:00pm]
25 MONDAY
REDNews Newsletter [4:00pm]
26 TUESDAY
ULI Houston - Leadership Luncheon: Big Data [11:30am - 1:30pm]
28 THURSDAY
TABB Houston - Chapter Meeting [11:30am - 1:00pm]
CORENET Houston - Joint February Meeting with IFMA [11:00am - 1:00pm] REDNews March Issue Deadline [5:00pm]
13 WEDNESDAY
CREAM The Woodlands - Luncheon [11:30am - 1:00pm]
14 THURSDAY
BACREN - Luncheon [10:30am - 1:00pm]
15 FRIDAY
CCIM Houston/Gulf Coast - 2019 Commercial RE Forecast Competition [8:00am - 12:00pm]
BOMA Houston - Foundation Benefit: Viva Las Vegas [6:00pm - 9:00pm]
CREW Houston - Partner with KIPP Houston High School [8:30am - 1:30pm] IREM Houston - Luncheon [11:30am - 1:00pm]
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FEBRUARY 2019
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com
CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com
GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org
whatâ&#x20AC;&#x2122;s going on
r Conference
ICSC Red Rive
NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org
ICSC Red River REDN
ews Booth
Edge Realty
nference ICSC Red River Co rantino Ta Janie Colin with
ICSC Red River Conference Heather with
Levcor
CREMM Holiday Party 2019 Commercial Real Estate Millennial Misses FEBRUARY 2019
37
CENTRAL SOUTH TEXAS AUSTIN - Absorption levels in the local office market completely rebounded from the flat first half of 2018, surpassing 1.3 million sf of positive net demand for the year, according to CBRE’s 4Q 2018 Austin Office MarketView.
AUSTIN, TX URBAN EAST MIXED-USE PROJECT PLANNED River City Capital Partners LLC is developing a mixed-use project at 6400 E. Riverside Drive called Urban East. The property is located within an Opportunity Zone & will include 100,000 sf of office space, 20,000 sf of retail space & 375 apartment units averaging 850 sf.
Apple will be building a new $1 billion campus on the Robinson Ranch which is a 7000 acre triangular property located between MoPac, US 183 & SH 45 North. Apple will receive a $16 million tax abatement package for the new campus through Williamson County.
bulletin
SAN ANTONIO - Strong office market movement ended the fourth quarter on a healthy note, ending the year with a positive net absorption of 322,500 sf, despite a negative first quarter, according to CBRE’s 4Q 2018 San Antonio Office MarketView report.
CONDOS PLANNED CLOSE TO UT AUSTIN Tuscon-based Diamond Ventures Inc., along with Austin-based Legacy Communities, purchased 4 acres at the corner of 51st Street & Springdale Road for the construction of a condominium project projected for completion in 2020. CIELO PROPERTY GROUP BUYS DOWNTOWN SITE Cielo Property Group purchased Block 87, bounded by Neches Street, Trinity Street, Seventh Street & Eighth Street in downtown Austin from the Episcopal Church. The tract includes approximately 1.6 acres in 13 parcels. Plans for the property reportedly include a mixed-use development. SHORENSTEIN DEVELOPING IN MUELLER COMMUNITY Shorenstein Properties LLC is planning to develop 750,000 sf in three office buildings in the Mueller community. The first building will include approximately 235,000 sf located between Robert Browning Street & Simond Avenue. Austin Energy has also announced plans to build a $150 million headquarters within the Mueller community.
CORPUS CHRISTI, TX FIVE POINTS SHOPPING CENTER SELLS MIMCO purchased the 276,593 sf Five Points Shopping Center located at 4101 Interstate Highway 69 from Brixmor Property Group. Chris Gerard, Chris Cozby, Mark Witcher & Blaine Dozier with CBRE represented the seller.
KYLE, TX RETAIL VALUE INC SELLS KYLE CROSSING Retail Value Inc (RVI) sold their 200,000 sf Kyle Crossing retail center for $27.6 million to an undisclosed buyer. The company indicated that net proceeds would be used to repay the mortgage debt. RVI now owns interest in 26 US properties & 12 in Puerto Rico.
LEANDER, TX OFFICE/RETAIL PROJECT ON SH 183 Method Architecture & Pohl Partners are developing a 46,541 sf, four-story office/retail building on SH 183 between Metro Road & San Gabriel Parkway. The building will have ground floor retail & a rooftop patio with three levels of office space.
STAG Industrial. The building is leased to Victory Packaging. SPIRE REALTY BUYS LOCKHILL CROSSING BUILDING Dallas-based Spire Realty Group purchased the 126,628 sf Lockhill Crossing Building located at 4630 N. Loop 1604 W in Shavano Park. OPPORTUNITY ZONE INVESTMENT DPR Investments purchased 9.4 acres on City Base Landing within the former Brooks Air Force base that has been converted to a mixed-use development. The company will develop the property with a climate-controlled self- storage facility within an opportunity zone. GRIFFIN PARTNERS BUYS ZACHRY’S HQ Houston-based Griffin Partners purchased Zachry Corporation’s 84,000 sf headquarters building located at 2330 N. Loop 1604 West in a sale/leaseback agreement. BRAUN TO REDEVELOP OFFICE BUILDING After acquiring the 187,000 sf office building at 84 NE Loop 410 about six months ago, Braun Enterprises will redevelop the property to include 20,000 sf of retail space & is also adding a multilevel parking garage.
SAN ANTONIO, TX
Source: Austin Business Journal
WORLD SURF LEAGUE COMES TO AUSTIN The World Surf League purchased the 14-acre NLand Surf Park located on SH 71 close to the airport. The surf lagoon is the world’s only inland surf destination & brewery. 38
FEBRUARY 2019
Source: Curbed Austin
SOCCER STADIUM FINALIZED The city of Austin & Precourt Sports Venture have finalized the lease & development agreement for the $225 million soccer park & stadium at McKalla Place in north Austin. Construction will start in 2019 & be completed spring 2021.
HINES PURCHASES 45 ACRES Hines purchased 45 acres in the Cornerstone Business Park from CIP Land Partners LP for the development of a multi-building industrial park. The property is located north of I10 just east of Loop 410.
EXECUTER BUYS 247,861 SF WAREHOUSE Executer Property Group purchased a 247,861 SF warehouse located at 1610 Cornerway Blvd from Boston-based
Source: San Antonio Express News
EAST SIDE MIXED-USE PROJECT PLANNED CA-based investment firm Harris Bay is planning another East Side mixed-use project located at East Cesar Chavez Blvd & South Cherry Street, just south of the Alamodome. The project will include nearly 350 residential units, a microbrewery, a bar, a beer garden & hotel.
NORTH TEXAS
bulletin Japan’s SoftBank reportedly pulled back on their WeWork Investment from $16 billion to $2 billion. Saudi/Abu Dhabi based Vision Fund is no longer involved.
Colliers International has expanded their DallasFort Worth services with the addition of a new multi-family investment sales team to be led by Mark Allen.
Source: Financial Times/Dallas Business Journal
COLLIN/DENTON COUNTIES SAM RAYBURN TOLLWAY EXPANSION The North Texas Tollway Authority (NTTA) plans to begin improvement to the Sam Rayburn Tollway (SRT) beginning January 2019 which will begin in Coppell & end in McKinney. The project is scheduled to be completed late 2021 & will consist of constructing an additional lane in each direction along the 26-mile tollway from west of Denton Tap Road to US 75.
DALLAS, TX
HALL Park including building towers more than 25-floors tall. The 162-acre project is located along Dallas Parkway.
GARLAND, TX Source: Oaxaca Interests
W&B REFRIGERATION BEING CONVERTED TO ENTERTAINMENT CENTER Oaxaca Interests is converting the former 10,000 sf W&B Refrigeration Service Company building, along with its loading areas, into a retail, restaurant & entertainment complex located at 660 Fort Worth Avenue. Approximately 50% of the space is reportedly pre-leased. with Cushman & Wakefield handled the transaction.
Source: Dallas News Staff Photographer
CENTURION AMERICAN DEVELOPMENT TRANFORMING MENTAL HOSPITAL Centurion American Development Group plans to transform the defunct Timberlawn Behavioral Health System psychiatric hospital campus located on Samuell Blvd into a residential neighborhood. The development encompasses nine building on nearly 50 acres. TRAMMELL CROW BUILDING RESIDENTIAL TOWER Trammell Crow Residential is building a 13- story, 185-unit luxury residential tower on land they purchased on Oak Grove Avenue between Hall Street & Lemmon Avenue. The site includes more than one acre & was purchased from three different property owners. KELLER LOGISTICS BUYS MISSION FOODS BUILDING Keller Logistics Group purchased a 204,000 sf industrial building from Mission Foods located at 4000 Dan Morton Drive. Ward Richmond & Cole Hooper with Colliers International & David Eseke, Cribb Altman & Steve Wentz
OFFICE COMPLEX ON MOCKINGBIRD SELLS New York-based Center Court Partners purchased the six-building office campus located at 1515 W. Mockingbird Lane. The project was developed in the mid-70s & is located several miles from Dallas Love Field.
FORT WORTH, TX
HARRIS PACKAGING BUYS 101,896 SF BUILDING Harris Packaging purchased a 101,896 sf building located at 1801 Riverbend West Drive from Stage Industrial. Seth Koschak & Forrest Cook with Stream Realty represented the seller & Terry Anderson with BJ Anderson represented the buyer.
FRISCO, TX
NACK DEVELOPMENT CONSTRUCTING MIXED-USE PROJECT Nack Development has started construction on a three-story, 38,500 sf building called Patios at the Rail which will include office, retail & restaurant space near Main Street in historic downtown. This project is in addition to their Tower at the Rail residential & commercial project which is underway. HALL GROUP ADDING HIGH-RISE DEVELOPMENT Developer HALL Group has received approval to add 2000 residential units to
FORMER COUNTRY CLUB BECOMES SPECIAL NEEDS COMMUNITY The former Eastern Hills Country Club located on 178-acres at 3000 S. Country Club Road was purchased by the nonprofit organization, My Possibilities, for the development of an inclusive special needs community which incorporates both the general public & adults & families with special needs.
IRVING, TX
ZALES HQ BEING CONVERTED TO OFFICE Coppell-based Varidesk purchased the former 424,000 sf office building which was formerly Zales headquarters and has plans to convert the building into an active workplace environment called Varispace Las Colinas. The building is located on a 15-acre site located at 901 West Walnut Hill Lane.
PLANO, TX
1.6 MILLION SF ELECTRONIC DATA SYSTEMS SELLS Dallas-based Highland Capital has purchased the 1.6 million sf former Electronic Data Systems office complex located on Legacy Drive just east of the Dallas North Tollway from DXC Technology. The sale consisted of two eight-story buildings & the transaction was handled by CBRE. BILLINGSLEY EXPANDS INTERNATIONAL BUSINESS PARK Billingsley has signed new leases & will start construction on the next section of its office campus within International Business Park. The project will include an additional five-buildings at 6161 Plano Parkway within the 300-acre mixed-use project. BANK OF AMERICA BUILDING SELLS Austin-based Capital Commercial Investments purchased the five-story, 231,479 sf Bank of America building located at 6400 Legacy Drive situated on 16 acres. It is directly adjacent to a portion of Plano’s Legacy West & the Campus at Legacy West. The sale was
brokered by JLL. LEGACY WEST BUILDING OFFICE/ RETAIL INSTEAD OF HOTEL President & CEO of The Karashan Cos., the developer of Legacy West, announced that due to demand, they will be building 87,000 sf of office space with more than 24,000 sf of retail space instead of a hotel within their next phase of Legacy West. The project will commence next month at Headquarters Drive & Windrose Avenue within the Legacy West Urban Village.
RICHARDSON, TX
KDC BUILDING 5TH DATA CENTER Dallas-based KDC is building their fifth database center at 1510 E. Lookout Drive. The building will have 130,000 sf & is scheduled for completion next summer. AMERICAN CRAFTSMAN/FARMHOUSE DEVELOPMENT Shaddock Caldwell is building an 18-home development called Mimosa Place near Coit & Campbell roads. The homes will be built in American craftsman or farmhouse styles ranging in price between $800,000 & $1 million.
ROWLETT, TX
CITY SUES CRYSTAL LAGOON DEVELOPER The City of Rowlett has filed suit against Bayside Land Partners LLC & Bayside District Partners, the proposed developers of a $1 billion mix-use development to be called Bayside. According to the city, the developer made significant changes to the original agreedupon project including the elimination of several important differentiators, one of which was the artificial lagoon.
SACHSE, TX $250 MILLION MIXED-USE DEVELOPMENT ANNOUNCED PMB Capital Investments is building a $250 million development, The Station, which will feature residential, commercial & retail development on both side of the George Bush Turnpike between Miles & Merritt Roads. The development encompasses 119 acres & upon completion will include 400,000 sf of commercial & retail space, more than 600 apartments & over 250 residential homes. FEBRUARY 2019
39
SOUTHEAST TEXAS BAYTOWN, TX
HOUSTON, TX
ADKISSON GROUP BUYS BUSINESS PARK Houston-based Adkisson Group Inc purchased Bay 10 Business Park from Parkside Capital. The project is located at 100 Kilgore Parkway along the Grand Parkway, just south of I10. Adkisson plans to offer several sites for sale or build-to-suit & will build several 10,000 sf – 30,000 sf freestanding buildings. Robert McGee, Thomas Leger, Chase Cribbs & Josh Cheatham with Lee &Associates represented the buyer & Davis Adams, Rusty Tamlyn & Trent Agnew with HFF represented the seller.
RADOM CAPITAL SELLS HEIGHTS MERCANTILE Houston-based developer Radom Capital sold the 40,000 sf Heights Mercantile retail center on 7th Street between Heights Blvd & Yale Street to Charlotte, North Carolina- based Asana Partners. Radom also sold the 11,000 sf Lowell Street Market at 718 W. 18th & a small redeveloped building & washateria on E. 20th.
BROOKSHIRE, TX
WEINGARTEN REALTY SELLS 1919 N. LOOP WEST Houston-based Simpkins Group Inc purchased the 129,250 sf office building located at 1919 N. Loop West from Weingarten Realty. Rudy Hubbard, Kevin McConn & Rick Goings with JLL represented the seller & the buyer represented itself.
58 ACRES SELLS ON FM 529 Harrison Kane, James Kadlick, Matt Herring & Chris Hutcheson with McAlister Real Estate sold a 58 acre tract of land on FM 529 to an undisclosed buyer. Anastasio Sanchez with SIS Group LLC represented the buyer.
HOCKLEY, TX FRIENDSWOOD STARTS TWO SUBDIVISIONS Friendswood Development plans to build two subdivisions in Hockley between Prairie View & Tomball. One subdivision includes 55 acres & the other includes 48 acres & each will feature entry level homes on 40 foot lots priced under $200,000.
TOYS R US TO BECOME RETAIL/ OFFICE PROJECT
Moody National Companies is reportedly planning to redevelop the former Toys R Us building located at I10 & Bunker Hill into a high-end retail & office project. Moody also owns La Renaissance apartments which are adjacent, giving the company a total of approximately ten acres.
40
FEBRUARY 2019
CLOUD SOFTWARE COMPANY LEASES AT THE KIRBY COLLECTION PROS, a cloud software company, has leased 118,000 sf of office space at the Kirby Collection on Kirby Drive near River Oaks.
UNIVERSALPEGASUS LEASES 113,000 SF HQ Huntington Ingalls Industries’ UniversalPegasus International leased 113,000 sf for its corporate headquarters at 4848 Loop Central Drive. David Baker, Doug Little & Kelli Gault with Transwestern represented the landlord & Lucian Bukowski with CBRE represented the tenant. RIVER OAKS SURGICAL CENTER UNDERWAY Construction has started on a 130,000 sf surgical center at 3720 Westheimer Road which will feature two floors of medical offices & a surgical center on top of a four-story parking garage with ground level retail tenants. Completion date is projected for August 2019. PHELAN BENNETT BREAKS GROUND ON SPEC PROJECT Justin Bennet of Phelan Bennett Development LLC is developing a 176,201 sf industrial project called Near East Distribution Center located at 8404 East Freeway. The company has started construction on the 108,549 sf Air Center Distribution Center located at 16400 Air Center Blvd. IKEA CLOSES ON GENERATION PARK LAND IKEA has purchased a total of 144 acres in Generation Park for the eventual development of a 1.2 million sf - 1.5 million sf
bulletin distribution center. The tract has access to a Union Pacific rail line.
LA PORTE, TX
KATY, TX CLAY DEVELOPMENT BREAKS GROUND ON DISTRIBUTION CENTER Clay Development has broken ground on a 620,000 sf distribution center between I10 & US 90 just west of Pederson Road within close proximity to Igloo, Amazon & the upcoming Costco buildings. The project is the first phase of Clay’s Waller County business park on 30.82 acres which can ultimately accommodate an additional 1 million sf.
VALVOLINE LEASES 472,000 SF Valvoline leased 472,000 sf for a distribution center in Port Crossing Commerce Center located at 1302 Wharton Weems Blvd. Expected occupancy is second quarter 2019. Gary Mabray & Walter Menuet with Colliers International represented the landlord & Ryan Fuselier with JLL & AJ Magner, formerly with JLL, represented the tenant.
MISSOURI CITY, TX Source: HCC
HCC BUYS 24 ACRES FOR SCHOOL CAMPUS The Houston Community College is purchasing 24 acres across from the UH campus for $12.5 million & has a three year option on an adjacent 30 acres located at 228 Colonial Parkway near I10 & Grand Parkway. Construction will begin December 2019 & is scheduled to open to student by June 2021.
KATY BOARDWALK DISTRICT DEVELOPING 169 ACRES KBH Ventures, an affiliate with Sueba USA, will construct a mixed-use development, including a full-service conference center hotel with approximately 300 rooms & a conference center, 319 luxury apartments, 155,000 sf of retail space & 60,000 sf of office space. The development is located at Kingsland Blvd & Katy Fort Bend Road. Construction of the apartment project has commenced & is scheduled for completion by spring 2020.
LOGISTICS PROPERTY COMPANY TO DEVELOP CENTER Logistics Property Company will develop a 97-acre project called CityPark Logistics Center near the northwest corner of Beltway 8 & US 90. The development will have seven buildings totaling 1.7 million sf. Phase I will consist of a 77,000 sf building & two 180,000 sf cross-docked buildings. They are projected to open late 2019. VAN BEEST USA LEASES 29,291 SF Van Beest USA leased 29,291 sf in Boulevard Oaks Business Park located at 5615 Fuqua. Ryan Fuselier & Geoff Perrott with JLL represented the tenant & Allison Bergman, Beau Kaleel & Jim Foreman with Cushman & Wakefield represented HINES, the landlord.
SUGAR LAND, TX FLUOR LAND REZONED Sugar Land City Council has approved rezoning of Fluor’s 50.31 acres located at the southeast corner of Lexington & University in the Telfair development. Fluor will utilize 28.5 acres for its office campus development & retain the remainder for future development. The campus will include four office buildings ranging in size from 79,000 sf to 169,000 sf, two parking garages, surface parking lots, an office amenities building, retail space & a day care center. Fluor’s current lease will expire in 2021.
advertiser index
21 Adkins Properties Company ................. 21 Bearden Investments .............................. 9 Berkadia ...................................................... 3 Caldwell Companies .............................. 19 CCIM Houston ................................ 18, 29 City of Seabrook ....................................... 5 Coleman & Co. Realtors .......................... 15 Equity Secured Investments ................. 15 Gerber Realty.............................................13 Greenberg & Co. ...................................... 13 Hankamer Commercial Brokers, LLC ... 18 Keller Williams Signature......................... 17 La Marque EDC .......................................... 7 Lane Property Tax Advocates ....................... 7 National Environmental Services, LLC ... 43 NewQuest Properties ....................... 1, 23 Phase Engineering ................................ 30 Pro Aire ....................................................... 5 Real Estate Summits ...................... 20, 44 Showalter Law Firm ................................. 11 Stream Realty Partners .............................. 9 Transwestern Commercial Services .............. 2 Waller County EDC .................................. 11 Worth & Company .................................. 11 AA Realty Company ...............................
The North Texas CCIM Chapter is pleased to announce its new leadership team for 2019!
Collin Flynn, CCIM President
Tim Veler, CCIM Vice President
Howard Fuerst, CCIM Secretary/Treasurer
Debi Carter, CCIM Past President
Wayne Bares, CCIM Director
Daniel Zale, CCIM Director
Calvin Wong, CCIM Director
Dan Campanella, CCIM Director
FEBRUARY 2019
41
2019 Editorial Calendar 50,000+ PRINT & DIGITAL DISTRIBUTION
Month
Market Focus & Sub Focus
January
Retail / Land / Development
February
Office / Industrial Trends & Hot Spots
Ad Deadine *Bonus Distribution Dec 12, 2018
Jan 11, 2019
- RECon Texas - Trailblazers CRE Summit - RECA KnockOut Night - CCIM Forecast Competition - BOMA Southwest Region Conference
Retail / Vacant Land / Texas Development Texas Economic Development
Feb 12, 2019
April
Vacant Land / Industrial Industrial Hot Spots
Mar 13, 2019
- Texas A&M Land Markets Conference
May
Retail / EDCs / Vacant Land Texas Economic Development
Apr 12, 2019
- BOMA Dallas Trade Show
March
- CCIM & CREW Austin Real Estate Summit
- RECon Las Vegas
June
Land / Industrial / Office / Texas Hot Spots
May 13, 2019
July
Land, Retail / Texas Economic Development
Jun 13, 2019
Retail Recap Texas Economic Development
Jul 12, 2019
August
Land / Texas Development Opportunities September Hot Spots
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- NTCAR Expo
Aug 13, 2019
Industrial / Office Service / Land Hot Spots
Sep 13, 2019
November
Retail / EDCs Texas Economic Development
Oct 11, 2019
December
Vacant Land / Texas Economic Development Hot Spots
October
FEBRUARY 2019
- Retail Live! Austin
Nov 13, 2019
Women in Real Estate Summits
A 360° approach to environmental services National Environmental Services Gabriel Environmental Group National Environmental Services, based in Houston, Texas and Gabriel Environmental Group, based in Redlands, California, are sister environmental consulting companies, established in 1995, that conduct a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround. • Phase I Environmental Site Assessments (AAIs-ASTM E 1527-13) • Transaction Screens (ASTM E 1528-06) • Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency)
• RSRAs (Records Search with Risk Assessments) • Phase II Subsurface Investigations* • Remediation and Corrective Activities* • Soil, Water, and Air Testing Services
National Environmental Services LLC 5773 Woodway Dr, Suite 96 Houston, TX 77057 Phone (281) 888-5266 Toll Free: (833) 4-Phase1 hgabriel@nationalenv.com www.nationalenv.com
• Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency) • Underground Ground Storage Tank Testing Services* * Performed in Texas in partnership with Terrain Solutions, Inc.,Texas Geoscience Firm Registration # 50018 Gabriel Environmental Group 700 East Redlands Blvd, Suite U618 Redlands, CA 92373 Phone (951) 545-0250 Toll Free: (833) 4-Phase1 hgabriel@gabrielenv.com www.nationalenv.com
Satellite Offices: Portland (Tigard), Oregon and New York (Little Neck), New York
FEBRUARY 2019
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POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South, Suite 2537 S. Gessner, Suite 135, Bellaire, TX 77401 Houston, TX 77063
PRSRT STD U.S. POSTAGE PAID PERMIT NO. 2436 DALLAS, TX
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Address Service Requested If this person is no longer with your company, please notify subscriptions@ rednews.com or call 713-661-6300
AL ROSS SIGN GROUP SET TO
Real Estate
present
MAKE ITS MARK ON HOUSTON
Opportunity Zones Summit
Houston-based equity firm, Al Ross
“We’re committed to delivering the
Group, LLC recently acquired a large sign
best value to you on every
company in Houston, and rebranded to Al
project, whether we’re creating
Ross Sign Group. The sign company, in
signage that is functional, artistic,
business 27 years has a solid, loyal client
or a bit of both. That’s the
base and experienced, passionate people.
difference you’ll experience when
With aggressive marketing and a high
working with Al Ross Sign Group.”
level of service, Al Ross Sign Group will quickly rise to the top, not only in
and Real Estate Tax Deferred Strategies
Al Ross, CEO
Topics to Include:
TO BE ANNOUNCED
Houston, Texas, but across the country.
•Real Estate Tax Strategies: Opportunity Zones •Legal Considerations for Opportunity Zones •Approved Texas Opportunity Zones •How were the Texas Opportunity Zones selected? •Real Estate Tax Deferred Strategies – 1031 Market Update
Expect the best!
4 Hours of Real Estate Continuing Education Credits applied for with the Texas Real Estate Commission TREC Provider # 10163 TREC Instructor # 4153
For More Information Contact: Ginger Wheless | REDNews | 713-661-6300 | Ginger@rednews.com 7 1 3 . 6 | | 952-405-7780 a l r o s s|sjeff.johnson@resummits.com igngroup.com FEBRUARY 2019 6 1 . 1 5 0 0 Jeff Johnson | Real Estate Summits Contact us today to learn more about what we can do for you!
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