REDnews March / April 2023

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Why it Pays to Trust Your Commercial Property Tax Protest to a Professional There’s a popular saying that the only things certain are death and taxes.

'A Never-Ending Torrent': Increase in Law Firms Boosts Texas Office Market Relocating companies aren’t just adding jobs in the Lone Star State. They’re attracting a large number of businesses and service providers.

Texas Industrial Market Boom: Demand for Large-Scale Spaces Surges The Lone Star State is experiencing a kind of industrial revolution as the Texas market witnesses an unprecedented surge in demand for industrial spaces of 100,000 square feet and larger.

Smart Mixed-Use: Built It Like You Mean It! How to Utilize Technology to Create More Meaningful Places The cascading series of global crisis, initiated by the pandemic, has left the real estate industry in a state of transformation.

'As Ready as We've Ever Been': Altus Group Prepares for Challenging Tax Appeal Season Paying property taxes is a necessary part of owning any real estate, however it can be a significant financial burden.

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Renters Bill of Rights: Housing Industry Expresses Concern About One-Size-Fits-All Legislation

Recently, the White House unveiled its proposal for a Renters Bill of Rights, a set of principles which aim to “increase fairness in the rental market and further principles of fair housing.”

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Transwestern's Annual Trendlines Presentation, River Oaks Country Club

From Tiny Acorns, Mighty Oaks Do Grow In 1975, Ray Hankamer

Decided to plant a little grove of trees in the long, dull esplanade that lay in front of the building.

CRE Marketplace March/April Edition

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Heavy Infrastructure Amenities +/-147.5 acres 2012 Miller Cut Off Rd., La Porte, TX Darrell L. Betts, CCIM 713.993.7704 Jessica S. Alexander 713.993.7703 The information contained herein was obtained from sources believed reliable; however, Avison Young Company makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. Existing railroad line via Union Pacific and splitting into four separate lines. property website: Existing 840-megawatt substation that can receive and will be able to deliver power. Ideal site for a power generation and/or refining development. Austin Industrial North Texas Industrial

Why it Pays to Trust Your Commercial Property Tax Protest to a Professional

There’s a popular saying that the only things certain are death and taxes. Most commercial property owners, however, would probably agree there’s an even better way to word things.

The only things certain are death and RISING taxes.

The simple truth is, the mass appraisal systems most county appraisal districts (CADs) employ are not a perfect science. Although they lump together properties of similar size, and in similar geographic regions, they don’t factor in considerations such as a property’s age, its extras and condition.

More often than not, the end result is an overinflated valuation that just doesn’t add up. And at a time when it seems basically everything is costing more, that increase can really hurt budgets.

The best way to fight unfair commercial property taxes, and to keep a property’s valuation in check, is to protest each year. And having an expert in your corner who knows the ropes can make a tremendous difference. Here are a few ways a professional property tax firm can help prime a commercial property owner’s protest for success and save thousands of dollars over time — and a few tips to make selecting the right firm simpler.

Property Tax Professionals Have the Time and Capacity to Protest — and Protest Well

There’s more to a commercial property tax protest than filing some paperwork, voicing a complaint and right sizing an unfair valuation. It’s an in-depth process driven by strict deadlines laid out by state law. Such protests often span multiple months, require the right evidence to form a convincing case and necessitate numerous visits to the appraisal district itself.

In other words, protesting your commercial property taxes requires time and effort that doesn’t work with commercial property owners’ busy schedules. It also results in undue stress.

Hiring a professional firm allows a property owner to leave most of the heavy lifting to an expert who handles such work every day. He or she understands the process and has the resources and experience to carry it through effectively. Most commercial property tax protest firms will handle the following:

• Initial filing

• Information gathering

• Valuation and assessment analysis

• Preparation and filing of renditions, appeals, corrections and exemptions

• Appraisal district correspondence

• Representation through formal and informal hearings

• Representation through arbitration or litigation, if needed

A Seasoned Property Tax Team Has Seen and Dealt with it All

Everyone’s had that dream before where they’ve shown up for school woefully unprepared for a test they’d altogether forgotten they had. Although winging it is more or less alright in the dream world, the same approach can have real consequences as it relates to commercial property tax protests.

Forgotten documentation, questions you, the property owner, aren’t prepared to answer and similar missteps can weaken an argument and lower your chances of successfully reducing a valuation. The good news is, turning things over to a professional firm means trusting someone who deals with these issues each and every day.

An experienced property tax firm will have a grasp on what’s required to plead and prove a case, an idea of the questions likely to arise as things progress and an ability to quickly pivot if something unexpected happens at any stage of the process. Because no two commercial property portfolios are alike, no two protests are exactly alike, either. Still, there’s enough similarity to merit working with a professional. It’s all about setting the wheels in motion for the steps you know are coming, planning for the unexpected — and moving forward with proven processes.

Longtime Tax Professionals Have Relationships They Can Leverage

When it comes to commercial property tax protests, both WHAT you know and WHO you know can make a difference. CADs and the people who work for them are professionals, and most do their best to make informed and honest decisions. Even so, it helps one’s case to approach a protest in a strategic way.

An experienced property tax team will have worked with a wide range of CADs, and they’re likely to have friendly relationships with those who are making the important decisions. They know who to speak with, the best way to reach them, how they tend to make decisions and the points that are most likely to position a case in a favorable light. In other words, they know their audience, and they can use that to your advantage.

Professional Property Tax Teams Get Proven Results

The main reason a commercial property owner would choose to protest their property taxes is to bring valuations down to a more reasonable level — and

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Hunter Lane
UNDETERRED DON’T LET HIGH PROPERTY TAXES THROW YOUR COMPANY OFF COURSE. *Fees are contingent upon property tax savings. Avoid stressful trips to the appraisal district and time-consuming tasks that take you away from your work by trusting a pro to fight your overinflated commercial property taxes. Lane Property Tax Advocates is here to unburden your business. 832.358.2000 | Get support from the pros. Scan to start your protest for free*.

ensure they’re only paying what’s fair. And professional firms have proven time and again that they’re up to the task.

During the 2022 tax season, for instance, Lane Property Tax Advocates protested in six states and 105 Texas counties — and successfully reduced property values by an average of 19 percent. It all added up to more than $150 million in estimated cumulated tax savings. And you can find similar success stories with other trusted firms. The savings add up when you have the right team by your side, and many of the most trustworthy firms won’t require payment unless their protest efforts are successful.

Selecting the Right Property Tax Team for the Job

Deciding whether or not to dive into a commercial property tax protest is only half the battle. Determining who to trust with such work matters, too. Here are some factors to consider when it comes time to get started.

• Find a Team that Won’t Overcharge You: Many, but not all, professional firms operate under a business model that says they don’t get paid unless they successfully lower your commercial property valuations. Make it a point to ask about the fees associated with a firm’s work. When and how will you be charged? How are you billed? Will filing fees enter the mix? Who do you approach if you receive a bill that doesn’t seem right? Having answers to such questions will put your mind at ease and ensure you’re working for a team that fits your company’s budget.

• Seek Out a Team You Can Work with: Although your property tax firm will be doing most of the heavy lifting, the protest process will require some effort on your part in the form of documentation, consults and the like. (And those tasks are much more manageable when you like the people on the other end of the phone line or email chain.) Schedule a phone call or short meetup before hiring your potential firm to get a general feel for personalities and experience — and an understanding of how the team works.

• Work with a Team Your Friends and Colleague Recommend: Word of mouth isn’t just the best form of advertising. It can be the best way to determine who to trust with important business decisions. Online reviews and Better Business Bureau (BBB) rankings can provide general insight into how a company operates and the success they’ve brought to others like you. Take things a step further by asking other commercial property owners who they’ve worked with in the past, and digging into the important details. How was their experience? What sort of results did they see? Would they hire the firm again? Is there anything they’d do differently? Those conversations provide a wealth of insight into a firm’s offerings, without the filters that sometimes accompany online reviews or testimonials.

Protesting your commercial property taxes each year is a smart move for any commercial property owner — but it can be an unnerving experience. Trusting the right team to tackle the work for you doesn’t just save you precious time, stress and money, but can leave you free to return focus to your day-to-day work. (And that benefits your business as a whole.)

< Tax professionals Continued from Page 6 2023 Austin FORECAST summit June 27, 2023 Scan for more information and to register: 4 hours of Continuing Education has been Applied for with TREC Sponsorship Opportunities Available April Daniel 713-661-6316 Abby Lestin 713-249-0242


'A Never-Ending Torrent': Increase in Law Firms Boosts Texas Office Market

As the number of corporate relocations to Texas continues to grow (there were 62 in 2021 alone), the companies aren’t just adding jobs in the Lone Star State. They’re attracting a large number of businesses and service providers.

One industry that has seen a surge in demand is the legal sector. Law firms are expanding their reach and setting up shop in major cities such as Houston, Dallas, and Austin.

Chicago-based national firm Hinshaw & Culbertson announced in February that it’s opening a Dallas office, the firm’s second Texas location, staffing it with consumer financial services attorneys with particular capability in mortgage servicing litigation.

"This addition of exceptional attorneys continues our strategic growth plan to support the firm's core industries and expands our ability to provide consistent, high-caliber representation of financial services providers nationwide," said Hinshaw Chairman Peter Sullivan.

Also expanding to Dallas, Boston-based national firm MG+M said the move will allow it “to better serve our national and Texas-based clients’ critical litigation needs.”

“This expansion formalizes our longstanding presence in the state and reinforces the value we provide to clients in handling their most critical and complex litigation wherever needs arise,” MG+M Chairperson and Partner John B. Manning said in a statement.

Those add to the nine out-of-state firms that expanded to Texas in 2022 and 14 in 2021.

Amicus Search Group, attorney recruiters with decades of experience, has been at the forefront of helping law firms break into the Texas market. The search firm helps firms recruit partners with books of business that align

with their goals in Texas. They also represent Texas firms that are looking to grow their operations.

“It is a never-ending torrent,” said Lee Allbritton, Managing Partner at Amicus. “When I started in this industry 25 years ago, there were roughly 30 out-of-state firms with offices in Texas. Today, there are more than 100.”

He added that the trend has been mainly concentrated in Houston and Dallas, but Austin has emerged as a strong player in recent years.

What is driving this growth? There are several factors at play, according to Allbritton.

“Firms follow the money and the business transactions,” he explained, noting that Tesla, Oracle, Samsung, Hewlett Packard and Apple all recently made the move to Texas. “Since Texas has been a hub for corporate relocations over the past two decades, service providers, including law firms, are keen on following their clients to Texas.”

The cost of living is also relatively cheaper in Texas compared to coastal cities, as is property. That’s drawing talent to Texas and law firms are following.

“Many young, smart and bright lawyers want to live in Austin,” Allbritton pointed out. “The pandemic has accelerated this trend, making remote work a viable option for many.”

Lifestyle isn’t the only reason for firms expanding or relocating in Houston and Dallas. Instead, Allbritton said the energy, healthcare, private equity, investment fund, real estate and technology sectors in the state’s largest cities are creating jobs and driving growth.

“The state's population has nearly tripled in my 55 years,” said the native

Lee Allbritton
“Many young, smart and bright lawyers want to live in Austin. The pandemic has accelerated this trend, making remote work a viable option for many.”
Pavstyuk via unsplash

Texan. “The influx of people and businesses isn’t slowing down any time soon.”

The office market is seeing a ripple effect. As these firms add personnel throughout Texas, they need space to house attorneys and support staff.

“These are commercial Class A space in city centers,” Allbritton said.

Just as so many other industries have been, law firms were affected by the pandemic. The result was an increased use of “hoteling.” Instead of having an assigned desk or office, employees instead reserve workspace as needed. This means that employees can choose from a pool of available workstations, meeting rooms, or other shared spaces when they come into the office, rather than having a fixed space that they occupy every day.

Hoteling is often used by companies that have a significant number of remote or mobile workers or that want to reduce real estate costs by maximizing the utilization of office space. It can also provide greater flexibility for employees who need to work in different locations or who have variable schedules. In addition, hoteling can be used to foster collaboration and interaction among employees who may not otherwise work together regularly.

“The trend that I've seen with my clients in the past year has been a

definite and significant return-to-the-office policy,” said Allbritton. “You can’t learn to be a lawyer remotely. You have to interact. You just can’t do that remotely.”

Because of that, he believes law firms are a net benefit to the office market.

“They actually need space. They want space. They want their people to come back to work,” Allbritton said.

As the growth in Texas continues to attract businesses and service providers from all over the country, law firms will continue to expand their reach by setting up shop in major cities across the state.

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Texas Industrial Market Boom: Demand for Large-Scale Spaces Surges

The Lone Star State is experiencing a kind of industrial revolution as the Texas market witnesses an unprecedented surge in demand for industrial spaces of 100,000 square feet and larger. From manufacturing and logistics to e-commerce and beyond, businesses across various sectors are on the hunt for colossal spaces, signaling a shift in the industrial real estate landscape.

“The demand for various services and resources in Texas remains robust, with varying factors driving this trend across multiple regions,” said Fred Ragsdale, a member of JLL’s Dallas Industrial Services group.

The state’s strategic location makes it ideal for businesses looking to expand, while its proximity to Mexico and the Gulf of Mexico provides easy access to both domestic and international markets. On top of that, Texas has experienced strong economic growth in recent years with a booming tech industry and a growing population. This growth has led to an increased demand for industrial space to support the manufacturing, logistics and distribution needs of businesses. Mix in the state’s business-friendly environment, which includes low taxes, minimal regulations, and a pro-

business government, along with affordability of its real estate compared to LA, Chicago or New York, and it’s clear why Texas is the darling of the industrial market.

Dallas-Fort Worth is one of the fastest-growing industrial markets in the country, according to Ragsdale.

“It has become a major distribution hub for goods moving all over the country,” he added. “Sustained demand and specific occupier requirements will continue to keep the market as one of the highest nationally.”

Meanwhile, San Antonio and the Rio Grande Valley are emerging as significant nearshoring hubs, taking advantage of their proximity to Mexico and a skilled workforce.

“The City of Laredo, which houses the busiest port of entry in the United States, moves an estimated 20,000 18-wheelers per day, making it a crucial hub for cross-border trade,” said Mark Krenger, managing director at JLL San


Antonio. “Mexico is recognized as one of the world's most robust labor bases, and the country's manufacturing sector has been gaining momentum due to supply chain disruptions arising from the COVID-19 pandemic.”

Houston also experienced a surge in construction activity with 36 million square feet of new space breaking ground during the year and 29 million square feet under construction in 2022 Q4. Thanks to a significant uptick in container traffic at the Port of Houston, an increased number of distribution centers are setting up operations in the region.

“Several companies are also relocating their distribution centers from the West Coast to Houston, to better accommodate the growing volume of materials arriving in the port,” said Richard Quarles, a Senior Vice President within JLL Houston's industrial Services group. “This trend is fueling demand for warehouse space and logistics services, creating a robust distribution network in the city.”

Finally, the tremendous growth and transformation of Texas’ capital city isn’t slowing.

“Austin is emerging as a major manufacturing and technology hub. One of the primary drivers of this expansion is population growth,” said Kyle McColloch, vice president at JLL Austin. “As a result, there has been a surge in demand from retailers for last mile distribution. Moreover, the city has become a prominent hub for semiconductor manufacturing, with a growing number of suppliers establishing operations in the region.”

Based on JLL Q4 Industrial research, the construction of new industrial space in Austin reached 2.1 million square feet during the fourth quarter of 2022, contributing to a total of 15 million square feet of ongoing construction, which is a record high.

“Austin is experiencing a surge in demand for properties over 100,000 square feet, with several major companies setting up large-scale manufacturing and distribution operations in the region,” McColloch said. “This has fueled a construction boom, with developers racing to meet the growing demand for large properties in the area.”

One of those projects is ATX 130, a four-building, 602,000-square-foot industrial development less than two miles from Austin-Bergstrom International Airport.

“ATX 130 will help meet the strong demand for industrial space in Austin by offering high-quality, modern facilities designed to meet the needs of a range of users,” said Miles Terry, Vice President of Development at JacksonShaw, adding that its prime location minutes from Tesla and Downtown Austin makes it an ideal choice for businesses looking to expand or relocate to the market. “The project is near strong labor and tremendous rooftop growth, which are important for today’s industrial tenants.”

Addressing the demand for larger spaces, three of ATX 130’s buildings are 120,000 square feet or larger. Building 3, for example, totals 207,000 square feet and has already been pre-leased in its entirety to Ferguson Enterprises, a multinational plumbing and headline products distributor.

Distribution needs have certainly fed some of the demand for industrial space in Texas, but there are a number of other sectors contributing, including e-commerce, logistics and manufacturing.

“While we don't have specific tenants committed for the remainder of the buildings, we believe that almost any business could find a home at ATX 130,” Terry said. “The project is designed to be flexible, targeting tenants ranging in size from 16,000 square feet to 395,000 square feet and buildings that can be configured to meet the specific needs of each tenant, whether they require manufacturing, distribution, or office space.”

The property is also strategically located within a Triple Freeport Zone and a Qualified Opportunity Zone, added Terry.

“We take great pride in our commitment to providing high-quality business parks that meet the needs of today's tenants,” he said. “Our team is dedicated to ensuring each tenant has the support they need to succeed and grow in the Austin market.”

The combination of increased e-commerce, reshoring of manufacturing, infrastructure investment and sustainability efforts is expected to fuel even more industrial development in the coming years, prompting businesses to seek industrial space to support their operations. Due to its prime conditions, Texas will likely be home to many of those projects, including more from Jackson Shaw.

Mark Krenger Kyle McCulloch Fred Ragsdale Richard Quarles Miles Terry

Smart Mixed-Use: Built It Like You Mean It! How to Utilize Technology to Create More Meaningful Places

The cascading series of global crisis, initiated by the pandemic, has left the real estate industry in a state of transformation. Rising inflation, supply chain issues, and a customer base that has grown comfortable with the optionality of a hybrid world present an ongoing challenge to developers, architects and designers.

As a result, the expectations of the post-pandemic user have expanded. Single-purpose, single-use buildings or districts are no longer able to satisfy the diverse needs of the audience. There is a hunger for in-person activities, but for people to commit to the chore that is associated with dressing up, commuting, parking and navigating complex urban environments, the destination and the experience it delivers must be ‘meaningful’.

Mixed-use developments are uniquely positioned to capitalize on those new parameters set by the consumer. The integration of cultural and consumer offerings such as sports and entertainment venues or lifestyle brands within a multiuse environment can help create a sense of belonging centered around a unifying purpose and identity. Alternatively, residential assets have emerged as key anchors for connected mixed-use communities that provide everything one needs within walking distance while creating a sense of place and community.

Further, with real estate values as high as they are, developers need to maximize the use of their assets, by maximizing utilization. To gain a competitive edge, lifestyle districts need to capture as much of the 24-hour consumer cycle as possible. Equitable design is key in this pursuit. Beyond the positive social impact, tapping into various stratospheres of consumer groups is the shortest path to around-the-clock activation. In addition, the inclusion of a diverse range of people and associated offerings creates the theatrical and vibrant atmosphere that has patrons linger.

Smart Places adapt to user needs in real-time and optimize the consumer experience

We have learned that what people desire are experiences. While the purpose of a project might be an office tower or a retail street, the spirit is human experience. Amenity-rich environments are an expectation rather than a commodity in any development that seeks to attract the captive audience.

To stand out from the competition, these experiences must be perceived as meaningful. Curated and customized user engagement bridges the gap. Client interactions might span from the first touchpoint (often the search for a parking spot), to personalized offers and messages that extend and add value to the consumer experience.

Real-time data through sensors, IoT (Internet of Things), and other smart property technologies and apps can deliver those experiences, while providing developers the data points and insights needed to constantly optimize their spaces.

Since 1992, data production has grown from a rate of 100 gigabytes per day to 50,000 GB per second. (VoucherCloud)

Flexible spaces have long been touted as a quintessential feature of successful mixed-use environments. Their ability to be programmed and to host distinct functions or events is key in keeping the audience engaged and motivating the customer base to return.

However, flexible spaces are often ‘walking compromises’, designed under a one-size-fits-all paradigms. Never quite fitting their temporarily adopted purpose, and limited in their capacity to transform, they can fall short on delivering the immersive experience the audience is craving. Not unlike a peek behind a theater curtain will break the illusion and taint the experience; makeshift stages, temporary signage and ill-fitting backdrops in a mixeduse environment can only carry you so far.

Christian Lehmkuhl

Taking the next step means to focus on ‘Adaptive Places’ that address all senses and blur the boundaries between the digital and physical realms. Incorporating digital assets, installations, and artistic content into building projects has become a popular way to enhance traditional builtenvironments and attract visitors. But, to truly unlock their transformative potential, those digital platforms must fulfill two essential requirements:

To extend their impact beyond the limits of a screen or projection, the platforms need to be seamlessly integrated into the built environment. Further, to create an encompassing, immersive experience, the content must be fully connected and choreographed between all channels and media types.

The AT&T Discovery District in the Dallas central business district (CBD) is a prime example for the implementation of these principles. Architectural elements are blended and augmented with media installations, allowing them to address, define and re-define different spaces.

A 7-story media wall curving around one of the tower façades serves as an urban-scale beacon for the district, while cycling through custom artistic and entertainment content to provide the rhythm and right mood for each time of the day.

The Globe, a 30-foot diameter, interactive sculpture, capable to rotate 270 degrees, can transform itself and the adjacent areas by addressing either the city, an event lawn or The Grove. The immersive media lobby at the AT&T

Headquarters Tower extends that transformation into the interior of the building, while breaking down the assumed boundaries of the corporate space and inviting to the public to explore.

Lastly, every evening a ‘take-over moment’ unites all media platforms, from ground lights to light canopies to audio in a choreographed immersive show, simultaneously capturing an audience that includes diners, shoppers, pedestrian, workers, by-passers, and tourists.

These experiences, which are personal and shared at the same time, connect us to a grander idea and are essential in creating meaningful and transformative communities.

Christian Lehmkuhl, Design Director, Regional Design Experience Leader, Gensler Christian specializes in architecture and technology, adaptive environments, and experience design. In his work, he strives for nuanced, elegant solutions to complex problems by implementing a narrative-based design approach. Christian's awardwinning work encompasses a broad variety of typologies, including Museums, Hotels, Corporate Headquarters, Retail, University Campuses, and large-scale mixed-use developments. His distinct design sensibility has shaped highly innovative architectural projects, such as the AT&T Discovery District (Dallas), the Museum of the Moving Image (New York), and the Tri-Climatic Biosphere (Abu Dhabi). As Design Director, he leads multi-disciplinary teams through all phases of the architectural process while collaborating closely with clients to articulate design strategies that thoughtfully negotiate project constraints and design impact.

2023 Houston MULTIFAMILY summit June 14, 2023 Scan for more information and to register: 4 hours of Continuing Education has been Applied for with TREC Sponsorship Opportunities Available April Daniel 713-661-6316 Abby Lestin 713-249-0242

'As Ready as We've Ever Been': Altus Group Prepares for Challenging Tax Appeal Season

Paying property taxes is a necessary part of owning any real estate, however it can be a significant financial burden, especially if your property's assessed value is higher than it should be. Fortunately, Texas property owners have the right to challenge their tax assessment and potentially lower their property tax bill through the appeals process.

“The uncertainty of the current commercial real estate landscape presents unique challenges for this year’s tax appeal season, but we’re as ready as we’ve ever been,” says Mark Wood, Senior Director at Altus Group, a leading global provider of software, data solutions and independent advisory services.

”Given the current market uncertainty and the decline in overall transaction volumes, producing valuations can be more challenging.”

Altus Group serves clients in more than 75 countries. With a focus on innovation and technology, the company provides a wide range of services, including property tax management, valuation, and appraisal, as well as portfolio management and real estate investment advisory.

“At Altus we employ a comprehensive method for establishing values, which takes into account aspects such as market fundamentals, the assets themselves, discounted cash flow models, pricing data, and also anecdotes from market participants such as brokers, lenders, and leasing agents,” Wood shares.

That’s why he’s confident that his team is prepared for the task at hand.

“A key part of our preparation for tax appeal season is ensuring we have a fully optimized valuation process at-the-ready,” Wood explains.

Wood calls the appeal process “a complex task and a huge lift.” That’s why he recommends that property owners tap firms with the needed resources and expertise to fully leverage the market insights available.

“This is especially true if you’re a commercial property owner with properties across multiple jurisdictions,” says Woods.

Altus Group's property tax management services are based on two essential elements: its consultants’ extensive knowledge and relationships in the local and jurisdictional areas and its cutting-edge technology that ensures that all decisions are informed by the most recent and accurate market information.

“Following Altus Group’s acquisition of Rethink Solutions in May 2022, we’re able to leverage itamlink—a property tax management software solution— which allows our clients to manage up to hundreds of thousands of properties across the country, make better informed decisions on areas like tax liabilities, and streamline overall financial workflows,” Wood says.

Filing tax appeals can be especially challenging for property owners in Texas, as the state enforces a fixed deadline for appealing property tax valuations, leaving only a month for making any reclaims. This leaves little time for property owners to complete a thorough valuation and file any litigations on their own. In contrast, an experienced team like that at Altus Group can more smoothly navigate the process.

“We thoroughly review clients’ property assessments and provide marketdriven advice on potential tax appeal options, including both informal and formal negotiations, to help our clients increase their bottom line,” says Wood.

Looking ahead, he doesn’t predict significant relief for property owners anytime soon.

“While last year brought about proposals for potential reform, there wasn’t an agreed upon alternative to the way in which assessments would be made or taxes calculated,” Wood says.

Despite the challenges of the current commercial real estate landscape, commercial property owners can rest assured that Altus Group is ready and able to help them navigate the complex tax appeal process.

Learn more about Altus Group by visiting

Mark Wood
“A key part of our preparation for tax appeal season is ensuring we have a fully optimized valuation process at-the-ready. ”

Renters Bill of Rights: Housing Industry Expresses Concern About One-Size-Fits-All Legislation

Recently, the White House unveiled its proposal for a Renters Bill of Rights, a set of principles which aim to “increase fairness in the rental market and further principles of fair housing.” The document addresses a range of issues including eviction, rent control and fair housing. While some advocates for renters have welcomed the initiative, there has been opposition from the housing industry, with some arguing that the federal government should not be involved in regulating the landlord-tenant relationship.

Nicole Upano, AVP of Housing Policy & Regulatory Affairs at the National Apartment Association, said she’s concerned about federal involvement in this area. She argued that state and local laws are better suited to regulating the landlord-tenant relationship as they are tailored to the particular market.

“We would be disappointed in any sort of one-size-fits-all policy around landlord-tenant operations because that just doesn’t align with the reality of the industry and the markets,” Upano told REDnews.

Upano also noted that the principles outlined in the Renters Bill of Rights are non-binding and do not represent any immediate changes to federal policy. She suggested that the focus should be on advocating to federal agencies that are responsible for implementing existing policies, rather than on creating new policies at the federal level.

“We look forward to working with the White House in areas where we align, such as the Housing Supply Action Plan,” said Upano. “We agree that there are both short and long-term solutions to resolving the housing affordability challenges that renters are facing, but we just disagree on the path to get there.”

David Mintz, VP of Government Affairs for the Texas Apartment Association, echoed Upano's concerns about federal involvement in landlord-tenant relations.

“Policies affecting the landlord-tenant relationship should be dealt with at the state level, not in Washington, D.C,” said Mintz.

Mintz also expressed concern that any new regulations could have unintended consequences.

“Anything that increases regulatory barriers and compliance costs ultimately impacts housing quality and affordability,” he pointed out.

Mintz also raised questions about the impact of an artificial limit on rent, which he believes would be a flawed policy that would hurt the ability of rental housing providers to maintain existing properties and deter new development.

“With Texas’ continued population growth, we need to make sure there aren’t any artificial barriers that impede the market’s ability to keep up with demand,” he said.

Rent control could impact property values and, therefore, public services.

“Texas school districts and local governments rely heavily on property tax revenue,” said Mintz. “Any policies, like rent control, that lower property values, will end up hurting tax revenue.”

Finally, Mintz said he worries about the impact of potential new regulations on small, independent rental property owners. He notes that many of these owners are already facing challenges due to pandemic-era policies that make it difficult to seek legal remedies when residents fail to pay rent.

“Rising property taxes, insurance premiums and other operating expenses are also a concern,” Mintz said. “With potential new and costly regulations, we’ve heard from members, particularly small, independent owners, about how these new policies may make it even more difficult to own and manage rental property.”

While there is opposition to the Renters Bill of Rights, there are also those who support the initiative. For example, Diane Yentel, President and CEO of the National Low Income Housing Coalition, has praised the principles outlined in the document, stating that they would provide much-needed protections for renters who are struggling to afford housing.

In conclusion, though the proposed Renters Bill of Rights has generated both some support from renter advocates, opponents argue that it represents unwarranted federal involvement in landlord-tenant relations. Ultimately, the success of the initiative will depend on whether it is able to strike a balance between protecting renters' rights and the needs of the housing industry.

David Mintz Nicole Upano

2023 Austin Industrial Summit - February 7, 2023

Amber Autumn, Summit Design + Build, Josh Delk, ArenaMan Development Company, Sara Wisnieski, S. Tipton Studios, Jon Arita, Terracon Mitchell Becker, Stream Realty Partners, Christen Vestal, MBA, Provident Realty Partners, Chase Clancy, Colliers, Ryan Whalen, Live Oak Ben White, City of Cedar Park, Texas, Bob Farley, Hutto Economic Development Corp., Amy Madison, Pflugerville Community Development Corporation, Dave Porter, Williamson County Economic Development Partnership, Jason J. Giulietti, Greater San Marcos Partnership, Ken Mongold, Headwater Bob Farley, Hutto Economic Development Corp. & Ryan Whalen, Live Oak Kelly Williams, BridgeCo Financial, Rachel Davis, Petros PACE Finance, Frank J Ivy, Jr, Randolph-Brooks Federal Credit Union

North Texas Industrial Summit – February 15, 2023

21 MARCH/APRIL 2023 events
Garret Krebs - Altus Group, Bob Mohr - Mohr Capital, Tim Veler, CCIM - SVN/Veler Commercial, Matt Dornak, SIOR - Stream Realty Partners, Mark Graybill, SIOR, CCIM - Lee & Associates, Allen Gump, SIOR, CCIM - Colliers John Thomas - Transwestern, Brad Copeland - CLX Ventures, Tim Keith - Cawley Partners, Granger Hassmann - Adolfson & Peterson Construction, Bill Baumgardner - VanTrust Real Estate, Allyson Yost – Colliers Conrad Madsen - Paladin Partners, Victor F. Russell - MMR Realty Advisors, John Lettieri, CFADalfen Industrial, Seth Koschak - Stream Realty Advisors, Jack Fraker - Jack Fraker, Kelly Williams - BridgeCo Financial Johnny Dunn, MBA - CBRE, Peter Tokar III, MBA - McKinney Economic Development Corporation, Guy Brown - Hutchins Economic Development Corporation, Karl A. Stundins, AICP - Lancaster Economic Development, Mayor Brianna Chacon - Mayor of Princeton, Texas, Robert WinninghamCity of Carrollton
CARING FOR OUR ENVIRONMENT’S FUTURE CRG Texas Environmental Services, Inc. ▪ Environmental Due Diligence Services, Phase I ESA, Phase II ESA ▪ Remediation Services Phase III ESA ▪ Soil and Groundwater Sampling -Field Services ▪ Storm Water Pollution Prevention Plan -SWPPP ▪ Construction Storm Water Pollution Prevention Plan- CSWPPP ▪ Leaking Petroleum Storage Tank Program -LPST ▪ Texas Risk Reduction Program - TRRP ▪ Voluntary Cleanup Program - VCP ▪ Innocent Owner/ Operator Program -IOP ▪ Wetlands Identification and Delineation ▪ Threatened and Endangered Species ▪ NEPA permitting ▪ Facilitating Sound Decision-Making ▪ Coordinating with Regulators ENVIRONMENTAL CONSULTING TEXAS REGUL ATORY PROGRAMS - TCEQ , RRC ECOLOGICAL SERVICES When it comes to safety, efficiency, and effectiveness, CRG Texas Environmental Services delivers high quality, responsive and honest services consistently on every project. R E QUE S T A FRE E QUO T E – C A LL NO W – 713-474-1570 | 713-517-7 591 Main Ph: 713-474-1570 | 24/7 Ph: 713-517-7591 | Email: 2504 Avenue I, Rosenberg, Texas 77471 | Visit our website @ WE IMPR OVE WH AT OUR CL IENTS D O BY C ONTINUAL LY IMPROVING W H AT WE DO!

Change is on the Horizon in Seabrook

In the Seabrook State of the City Address held on March 8th at Lakewood Yacht Club in Seabrook, Texas, Mayor Thom Kolupski discussed many of the major developments coming to Seabrook. These developments will increase the city's population by adding several high-end condo and apartment units to Seabrook. Each development will also include restaurants and retail to complement the new residences. The mayor said that these new developments are an important part of Counci’s vision for Seabrook as a vibrant community with plenty of opportunities for both residents and visitors to enjoy their time here.

Construction on The Edge, a mixed-use development within the Lakeside Circle Area, is set to begin soon. The Edge will be accessible from State Highway 146 and is located adjacent to the Lakeside and Repsdorph Traffic Circle. The Your City, Your Future 2040 Master Comprehensive Plan identifies the Lakeside Circle Area as a 30+ acre master-planned, mixed-use retail development zone designed to facilitate businesses that accommodate trade and personal services. The Edge is an approved Planned Unit Development that will include a four-story, 322-unit apartment complex and 19,000 square feet of retail and restaurants surrounding a plaza with an event lawn. Beautifully designed office spaces will also be available.

Mayor Kolupski also highlighted the Lakefront Planning Area. This planning area includes properties along NASA Parkway, west of the SH146 intersection, and provides an ideal setting for mixed-use businesses in conjunction with marine type uses. The city's goal is to develop the area along the length with retail, restaurants, public parking, and new pedestrian facilities to generate a welcoming and dynamic environment that will encourage patrons, especially families, to visit and linger.

Seabrook City Council recently approved the preliminary plans for a mixed-use development called the Highland Center, which will be located at the corner of Highway 6 and South Shore Boulevard. The 12story, 238-unit high-end apartment property is set to feature a 5,200-square-foot restaurant overlooking Clear Lake. The restaurant will feature a 3,150 spare-foot outdoor dining deck to capture the waterfront views. The planned L-shaped complex will also feature a full amenity pool deck on the fifth level overlooking the lake. The property was once home to the popular Louie's on the Lake restaurant and has been vacant since closing in 2017.

On March 21, 2023, the Seabrook City Council will consider the second reading of the planned unit development for Margaritaville Compass. The project is a mixeduse development consisting of a boutique hotel, extended stay hotel, event center, restaurants, and apartments. The project site is located along NASA Parkway next to Sam's Boat and across from Seabrook Plaza. The Mayor discussed the project at length in his address and stressed that this is an important step toward revitalizing the area along the lake in Seabrook.

Not only are three new developments coming to town, but all three of these new developments will increase Seabrook's population which is a desired factor for certain retail, restaurant and grocery store establishments.

Seabrook's State Highway 146 Corridor is an area of interest for businesses looking to open new locations in the city. Paul Chavez, Seabrook's Economic Development Director, has indicated that several fast-food restaurants have expressed interest in the highway frontage parcels.

The City of Seabrook has received a Green Ribbon grant from TxDOT which will elevate the city's landscaping and branding efforts. The highway corridor through Seabrook will feature unique and branded MSE walls, blue backlit column stars, custom underpass bollards, native landscaping, and white galvanized traffic poles. In addition to these beautification efforts, Seabrook has also identified the need to expand and improve branding efforts throughout the city, including entryway signage, updated street signs, and branded park signs.

The Seabrook Economic Development Corporation (SEDC) recently awarded a $50,000 permit reimbursement incentive to Transwestern for their new Bayport 146 Distribution Center located along Old Highway 146 adjacent to the Bayport Container Terminal. This new 454,600-square-foot state-ofthe-art facility lies within Seabrook’s Office Warehouse District. This planning area is within proximity to the port and is an area that provides a good opportunity for office and warehousing development.

Seabrook currently has a ten-minute drive-time population estimated at 57,321 people. The average age of Seabrook residents is 40, with an average household annual income of $122,267.

The SEDC's primary goal is to enhance and expand the local tax base with quality sustainable businesses, and amenities. Developers and businesses interested in seeking sites for development should reach out to EDC Director Paul Chavez by emailing or by calling (281) 291-5730.

SEABROOK, TEXAS ACTIVELY SEEKING URGENT CARE FACILITIES FOR COMMUNITY Highly visible sites with good accessibility in the City are ready for your Urgent Care CALLING ALL URGENT CARES OUT THERE COMMERCIAL LAND Call us for more available options 3.32 ACRES SH 146 & E. MEYER AVENUE RETAIL AT COMMONS AVAILABLE PAD SITES SH 146 & 3300 BAYPORT BLVD 2.69 ACRES 3706 NASA PARKWAY SEABROOK CENTER AVAILABLE OFFICE SPACES 2100 NASA PARKWAY 57,321 Daytime Population Average Age 40.4 $122,267 Average Household Income Contact Paul M. Chavez, EDC Director (281) 291.5730 * *10 Min Drive Time Scan to view available sites

Marble Falls' Growth Leads to Multiple Community Developments

Like most communities, Marble Falls has commercial and industrial land that is available for development. The town of just over 7,500 also has reasonably good transportation infrastructure and proximity to large urban centers like Austin (60 minutes away) and San Antonio (75 minutes away). The area can start claiming some advantages as a scenic lake town in the Texas Hill Country, popular for retirees and tourists alike, with recent growth creating new opportunities in the healthcare, light manufacturing, and professional office sectors. Being a regional shopping hub for more than 117,500 people has helped Marble Falls weather the current economic storm very well—in fact, monthly sales tax allocations have averaged more than 20% growth over the prior year.

What sets Marble Falls apart, however, now more than ever, is the community’s small-town values coupled with its welcoming attitude toward newcomers. Those who are buying land in the Business and Technology Park are coming from nearly everywhere. The community supports law enforcement and first responders, holding multiple events every year to honor their service. The Marble Falls Independent School District is the area’s largest employer, so teachers, administrators, and other support staff provide a strong foundation at all levels of the workforce.

Roughly 100 businesses open or expand annually in Marble Falls, with about 70% of those being locally-owned and operated. The Downtown area in particular has been a major contributor to that growth. Professional offices and small headquarter facilities are well-situated here with proximity to quaint shops, great restaurants, and amazing park space. People are realizing that, if they can work from anywhere, they want to work from Marble Falls.

New subdivisions like Gregg Ranch with 707 lots-currently in phase IIand Thunder Rock with 1,870 lots will support recent developments that include Baylor Scott & White’s $100 million regional medical center, a 110,000-square-foot H-E-B grocery store, and a $20 million operations center for Pedernales Electric Cooperative. There are also several medical office facilities and a new family entertainment center that just opened, and the development pipeline includes some exciting retail opportunities such as the 114--acre Legacy Crossing, 40-acre Flatrock Crossing, and the 10-acre Panther Hollow Village. Also in the development pipeline are several multi-family properties with 1,000+ combined units and a public/ private Downtown hotel and conference center project slated to break ground summer 2023.

While the emergence of Marble Falls as the retail and entertainment hub of the Highland Lakes area is a relatively recent development, the community’s draw for generations has been its connection to the outdoors. Beautiful Lake Marble Falls is ideal for skiing, kayaking, canoeing, and paddleboarding, and the Downtown parks along the waterfront are continually enhanced by a $25 million improvement plan that began in 2019.

Marble Falls is already a special place, and community leaders are focused on making incremental improvements to a few areas while maintaining momentum in others. When it comes to new businesses, size and fit are critical considerations. Small- to medium-sized companies will likely have an easier time with real estate and employment than very large firms— and the community likes it that way. If the prospects of a charming small town with steady, manageable growth and a surprising set of amenities sounds appealing, give Marble Falls a shot. Whether your interests lead to a greenfield development in the Business and Technology Park or the restoration of an historic downtown structure into a live/work/shop space, opportunities abound in Marble Falls. For more information about investing in Marble Falls, contact Christian Fletcher, Executive Director of the EDC, at 830/798-7079 or

“What sets Marble Falls apart is the community’s small-town values coupled with its welcoming attitude toward newcomers. Those who are buying land in the Business and Technology Park are coming from nearly everywhere.

A small town with big potential. Beyond our booming economy, you’ll find landscapes filled with adventure, food flavored with goodness, and new Texans falling in love with life. Unlock your potential here.


Conroe, Texas: Unparalleled Growth, Unlimited Potential

Conroe, Texas, 40 miles north of Houston in booming Montgomery County, emerges as a flourishing city ready for your business. Expanding business parks, innovative infrastructure, and premier educational opportunities, set near one of Texas’ finest lakes, make Conroe a top destination. With so much to offer, it’s no wonder that More is Made Here!

Business Opportunity

Conroe is ideally situated in that companies can house their regional or corporate headquarters in The Woodlands and their manufacturing headquarters eight miles up Interstate 45 in Conroe with a regional airport right next door. Conroe has two city-owned business parks that make it fast and affordable to locate in the city.

Deison Technology Park, located on FM 1484 in Conroe four miles east of I-45, is a 248-acre technology park featuring an innovative, eco-friendly space for your corporate campus, research and development, life sciences, or office facility. With infrastructure in place, Deison Technology Park also offers the amenities of an idyllic park setting with hiking and biking trails and peaceful gathering areas.

Conroe Park North, located on FM 3083 in Conroe two miles east of I-45, is a 1,655-acre industrial park featuring four-lane concrete streets, city water and sewer, and signage. The more than 40 companies and 4000+ employees currently locating within Conroe Park North represent a wide variety of industries, including medical device manufacturing; freight distribution; advanced manufacturing; machining; food processing; specialty packaging; oilfield services; commercial product distribution; warehousing; and higher education.

Advanced Infrastructure

Significant transportation investments throughout Conroe make it easier to reach business centers and local attractions.

Adjacent to Deison Technology Park sits Conroe-North Houston Regional Airport. A U.S. Customs Federal Inspection Station serves foreign travelers and recent runway expansion handles increased air travel into the growing Conroe airport.


George Bush Intercontinental Airport, one of the busiest airports in the Unites States, is a mere 30 minutes from Conroe. Port Houston opens global shipping markets to Conroe businesses.

Attractive Incentives

Conroe presents a bevy of available economic incentives at the city, county and state level for qualifying businesses. Foreign Trade Zone #265 serves Conroe and greater Montgomery County helping companies obtain several tax and tariff savings. Additionally, businesses that serve national or international markets may qualify for the Freeport Exemption.

Nearly 2 million workers within a 40-mile radius of Conroe help companies find skilled employees.

Endearing Lifestyle

Conroe is known for its quality of life. Outdoor recreation and cultural venues, along with festivals, entertainment and retail options are readily available. Idyllic 22,000-acre Lake Conroe, home to Margaritaville Lake Resort, is a slice of paradise and the region’s most popular attraction. Sam Houston National Forest’s 163,037 acres invites hiking, biking and birding along natural trails.

“Conroe is known for its quality of life. Outdoor recreation and cultural venues, along with festivals, entertainment and retail options are readily available. ”

TEDC Recognizes 2022 Economic Excellence Recognition Recipients at 2023 Legislative Conference

The Texas Economic Development Council (TEDC) announced the recipients of its annual Economic Excellence Recognition program for 2022. The awards were presented on Friday, February 24th, during the TEDC’s 2023 Legislative Conference in Austin, Texas.

The Economic Excellence Recognition program provides recognition to economic development organizations that meet a desired threshold of professionalism. Recipients qualify for recognition based on training taken by their governing board/council as well as the economic development director and professional staff. Certifications, professional memberships and activities, and organizational effectiveness of the economic development staff also contribute to the standards for qualification.

These fifty-four (54) economic development organizations received the TEDC’s 2022 Economic Excellence Recognition:

Allen Economic Development Corporation

Amarillo Economic Development Corporation

Bastrop Economic Development Corporation

Bonham Economic Development Corporation

Bowie Economic Development Corporation

Brenham Washington County EDO

Brookshire Economic Development Corporation

Cedar Hill Economic Development Corporation

Cedar Park Economic Development Corporation

City of Azle Economic Development

City of Granbury Economic Development

City of Justin

City of Keller Economic Development

City of League City

City of Mesquite

City of Sachse/Sachse Economic Development Corporation

City of Saginaw, Texas

City of San Angelo Development Corporation

City of Southlake

City of Waxahachie

Conroe Economic Development Council

Copperas Cove Economic Development Corporation

Cuero Development Corporation

De Kalb Economic Development Corporation

Decatur Economic Development Corporation

Development Corporation of Abilene

East Aldine Management District

Frisco Economic Development Corporation


Galveston County

Harlingen Economic Development Corporation

Ingleside Development Corporation

Kaufman Economic Development Corporation

Kilgore Economic Development Corporation

La Marque Economic Development Corporation

La Vernia Municipal Development District

Lavon Economic Development Corporation

Sugar Land 4B Corporation (Type B)

Sugar Land Development Corporation (Type A)

Sulphur Springs Economic Development Corporation

The Colony Economic Development Corporation

Wylie Economic Development Corporation

“The TEDC’s Economic Excellence Recognition program is one of the ways in which our organization honors the outstanding commitment to excellence of

Texas Economic Development

Promote your region of Texas to 50,000 commercial real estate decision makers in REDnews' Texas Economic Development Guide. Showcase the most impressive features your city or county have to o er!

The next biannual supplement will run in the print and digital September/October issue of REDnews magazine with added exposure online at and on the weekly REDnews newsletters.


Colliers Houston TRENDS 2023

Colliers’ annual TRENDS event took place at Houston Country Club, with presentations by Colliers’ President Patrick Duffy and a keynote address by UH Bauer School Director of the Institute for Regional Forecasting Robert Gilmer. Over four hundred real estate professionals attended the confab, which included a grand networking event before and after the presentations, complete with open bar and lavish hors d’oeuvres buffets.

Patrick Duffy-Takeaway

Overall the Houston real estate market continues on a roll in most sectors, although somewhat subdued at present by higher interest rates.

• The population of Houston’s MSA grew by 1.7% and should continue to grow by 1.5% annually for the next five years

• Based on UHaul drop-offs, Texas is the #1 state for relocations

• The Houston Ship channel is expanding to accommodate new container business coming from crowded West Coast ports, and there are more than 200 private terminals in our port; Houston leads the US in actual tonnage due to the large amount of bulk petroleum and chemical shipments

• The oil & gas sector continues to make Houston the energy capital of the world, although many other economic drivers are in place now in our local economy

• The Houston airport system impacts our economy by over $36 billion annually

• Our medical center is the largest in the world

• Single family housing started 2022 with a bang but lost momentum when interest rates rose; this has also affected new home starts as developers find new projects don’t always pencil out; this should lead to higher demand for multi-family until interest rate hikes for single family homes end

• California and Illinois experienced the greatest out-migration while Texas captured the most in-migration of any state; Dallas / Ft. Worth and Austin are capturing many of the new residents, as is Houston

• Retail is ‘on fire’ with historically low vacancies (5%); restaurants are the exciting new tenants in many centers; over 2 million SF of retail under construction with 47% pre-leased; Class A in-line rates can vary from $25-$85 SF

• Multi-family experienced a slight drop in occupancy in 2022 to 90.6%; there are almost 21,000 new units under construction; there is negative absorption in Class B & C as many tenants move up to A

• The office sector continues to be challenged as companies and employees work to adjust the at-home, at-office balance; vacancies are up ten basis points year over year and many companies have sub-lease space available; overall vacancy in office sector is 23%; some old buildings should probably be demolished; almost 2 million SF new office product under construction

• The industrial sector is very strong, driven largely by the port; vacancy is at 5.6% with almost 29 million SF absorption in 2022; we have 33.6 million SF under construction, with 16% pre-leased; conservative developers are seeking more build-to-suit as more tenants want to own; spec building in this sector is down; in 2022 70% of absorption was in deals 100,000 SF and larger

• Healthcare, another one of Houston’s economic engines, experienced 867,000 SF absorption in 2022, up slightly from 2021; average asking rental rates are up 2.5% over 2021

• All Houston CRE sectors are in expansion phase except for Office, which remains in recession phase

Robert Gilmer-Takeaway

The aftermath of the pandemic left somewhat of an economic ‘mess’, which the Fed is trying to clean up, after ‘mistimed’ economic stimulus. Oil & fracking are now a smaller economic impact on Houston’s economy, and without it Houston should have a near zero overall job growth in 2023. Most Texas cities have had a complete post-Covid payroll recovery after the initial shock created deep job losses. Federal stimulus funds, while helping people in need, also created imbalances and inflationary pressures in the economy.

• Predictions of Houston job growth in 2023 vary from none to 117,000, with almost no help from oil and gas, although this industry is enjoying relatively high prices around $80 bbl; Houston lost 44,000 O&G jobs after oil peaked in 2019, and only 39% are back

• Oil & gas companies are directing profits not so much toward new exploration but towards ‘cleaning up’ their balance sheets and towards paying out returns to investors

• OPEC created big gyrations in oil prices in past years, which led to Texas oil producer bankruptcies, and this has led to a slowdown in new investment in this sector; producers can make money at prices above $65 bbl; rig counts have fluctuated between roughly 2000 and 700, where they now stand

34 MARCH/APRIL 2023 event profile

• The Fed is attempting to slow the economy and inflation without creating a recession, which is a careful tightrope to walk

• Oil prices have been back since mid-2021 but the industry has only seen limited increase in rigs, oil jobs, and production; the industry is cautious after having been whipsawed by OPEC policies

• The Fed is seeking a return to an average 2% inflation rate over the long term; the Fed has the economic tools if they have the political will, and the Fed was ‘embarrassed’ by letting inflation soar in 2021; there will be some job loss nationwide as interest rates rise

• Industrial production is down over past 6-8 months; merchant wholesalers down; retail sales down 0.5% after peaking last October; real personal consumption down 0.2%

• Inflation is falling nationwide and different forecasters have different predictions on timing, but overall the US economy is heading in the right direction, and Houston and Texas along with it; excluding oil & food, inflation ran at 4.3% rate through December

• Houston existing home sales show shrinking sales, rising inventory, flat prices; inflation and rising mortgage rates are responsible for the sharp slowdown

• Auto sales have shown an almost level rate (with some up and down fluctuation), while prices have risen sharply over past year

• Houston sales tax collections remain robust and have steadily risen over past two years; fiscal support and cheap money drove record retail sales since 2020 but they are finally leveling off as fiscal restraints start to bite and stimulus wanes; Houston consumer savings rates are below pre-pandemic levels and continue their gentle slide

Avison Young ................................................................................................ 5 BOMA Bayou City Brawl 9 CenterPoint Properties ............................................................................... 2 City of McAllen 24,25 City of Seabrook 26,27 Conroe Economic Development Council ............................................... 30,31 CRG Texas Environmental Services, Inc 22 Gordon Partners ......................................................................................... 16,17 Lane Property Tax Advisors 1,7 Lavon EDC ..................................................................................................... 32 Marble Falls Economic Development Corporation 28,29 National Environmental Services, LLC 47 North Houston District .............................................................................. 3 Phase Engineering 36 Wilson Cribbs & Goren ............................................................................... 11 advertiser index



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Associate Principal at LPA Design Studios

LPA Design Studios has hired veteran Dallas design leader D. Alex John, Jr. as Associate Principal and Design Director of the firm’s growing Dallas commercial practice.

John joins LPA after 18 years with HKS Architects, most recently as vice president and senior designer. He will complement a Dallas studio that is actively expanding its portfolio of commercial, education, workplace and life science projects. John will work on a wide range of project types, leading an inclusive, collaborative design process that prioritizes measurable results in performance, healthier environments and facilities that work better for the users.

John brings a wide range of experience to his new role, including design for hospitality destinations, health science facilities, corporate campuses and education centers. The Oak Cliff resident is an active leader in the community and serves on the Board of Directors of The Real Estate Council, the local commercial real estate association.

1 BACREN’s monthly meeting in January 2023 Dr. Harold Hunt Research Economist with Real Estate Center at Texas A&M. 2 2022 CCIM President Glenn Preuss, CCIM Austin Feburary 7th. 3 Rachel Glass, CCIM, Transwestern and Samantha Harris, CCIM, MD Anderson Cancer Center - CCIM Houston Luncheon 2023. 4 North Texas Industrial – February 15, 2023 5 Crowd at CCIM Austin Feburary 7th.
1 2 3 5 4 6
6 Crowd at Austin Industrial.

CCIM Commercial Real Estate Forecast Competition 2023

The 2023 Competition held at Houston's Briar Club was attended by over 450 real estate professionals. The meeting was opened by CCIM Institute President David Schnitzer, and the winners of the 2022 Competition were announced: Multi-Family: Swapnil AgarwalNitya Capital; Industrial: Walter Menuet-Colliers International; Brandi Bellow Sikes-SVN; Retail: Michelle Johnson-George E. Johnson Properties.

Keynote Speaker: Ted Jones, Chief EconomistStewart Title Company

Takeaway: We are operating in a climate of historically low unemployment, high mortgage rates, and high inflation. Efforts by the Federal Reserve Bank to curb inflation may result in lost jobs and a recession. Efforts to convert the economy to renewable energy will involve disruptions to existing energy sources.

• Rising wages fuel inflation

• Household debt is soaring

• Credit card interest rates are the highest ever

• Savings rate lowest in 20 years

• Recession almost guaranteed according to Bloomberg News; Goldman Sachs on the other hand predicts a 'soft landing'

• Rents and home values are receding somewhat

• Population growth in Texas will continue, benefitting CRE; December 2022 in Texas and Houston marked the highest level of employment in history

• Texas boasts no state income tax but this is in part balanced out by our high property taxes

• Texas has 5.7% more jobs than before the pandemic

• Houston home sales down 17%

• Apartment rents due to ease somewhat

• 2022 saw record CRE investment sales; real estate is doing very well in this inflationary atmosphere

• Due to high interest rates there is a glut of unsold new homes, the most since 2008; investors are buying homes, not families; many used and new homes fall out of contract before closing due to inability to secure acceptable financing

• Where local governments legislate rent control, 86% of builders cease to build there, adding to the problem; mandated regulations to homebuilders such as impact fees drive up costs for home buyers but can improve neighborhoods

• Brick and mortar retail sales are at highest level in history and e-Commerce (at 15% of total retail sales) has not dimmed brick and mortar prospects

• Industrial is very sound in Texas, while Office is still reorganizing as the battle over work-from-home continues; we are seeing office buildings being converted to housing and hospitality and other uses

• We have the lowest spread between cap rates and ten year treasurys in history

• Total lending is way down for CRE developers due to unclear vision of future demand in some CRE sectors

• "Creativity" is the big issue in tough times; there will be buying opportunities for those with 'dry powder'

• The insurance market is going through turmoil and some CRE owners are forming insurance pools to self-insure

Multi-Family Moderator: Carra Chrzan Panelists: Blake WillefordGreystone; Jeffrey Ketron-Northmarq; Dillon Mills-Newmark

Takeaway: Houston is an attractive market for M-F developers and investors alike, as our population continues to grow and our local economy continues to diversify. The financing costs of single family homes is resulting in people remaining in apartments as they wait for lending rates to subside.

• Cap rates are projected to range from 4.5 to 5.75 with Class A on the lower side and Class C on the higher side

• New construction for this year is projected from 14,000-17,500 new units and absorption from 5-6,000 units

• Katy, Cinco Ranch, River Oaks, and Richmond-Rosenberg are projected to have the strongest absorption

38 MARCH/APRIL 2023 event profile
Ray Hankamer

• Market rent averages projected to be in the $1,250-1,340 range

• Investors are looking to an average hold of 7-10 years, and insurance costs and other variables are a big question mark as investors calculate their operating expenses going forward

• Houston is now (finally) thought of as a "Gateway" top-tier market by U.S. and international investors

• There is a land buying spree and developers are holding sites at the ready to see what the economy will do; land sellers are usually well-heeled and can wait till they get their selling price

• Developers and investors are getting creative with lenders, who have their own issues; bridge loans, shorter term fixed loans, and creative equity sourcing are the rule of the day

• Government backed loans are closing only ten percent of loans quoted... this has to change with more creativity in the structuring of the financing

• 2021 was a record year for M-F investment transactions

• The industry wants flexibility to come into to the lending marketplace to stave off vulture lenders coming in, which could cause problems for owners and ultimately tenants...which could be politically uncomfortable

• Lots of creative equity packaging is taking place as developers are unable to find formerly available sources

• The Houston population growth and diverse work force is a good base for

supplying tenants to M-F; we have a market here where people want to live and work, so outside investment should continue to flow in

Office Moderator: Brandi Sykes-SVN/J.Beard Panelists: Marty HoganJLL; Eric Siegrist-Parkway Property Investments

Takeaway: City jobs continue to grow. The horizon in this sector has been dark but the sun is beginning to shine, and there is a belief that Houston will continue to recover and grow. Buildings built after 2014 are mostly 100% occupied. Return to normal in office? Every year since 2020 has improved, so things are heading in the right direction. Houston is a super-resilient market.

• There are investors in this sector and they are looking for either stabilized quality in full new buildings or for steals in older ones

• A big emphasis by tenants now is 'what is the commute time' for the bulk of a company's employees? The CBD and the Galleria markets are losing out to Westchase and The Energy Corridor

• There is a flight to new and experimental buildings and interior layouts

• Rental rates downtown Class A are projected in the $25-26 range and Class B $17; Suburban rates Class A $20-21.50 and Class B $16.50-17.00; Overall occupancy both classes 75-81%

• The Energy Corridor, once distressed, now does not have a wide range of space options for larger tenants

• There are conversion opportunities for older buildings which no longer measure up to today's tenant needs


• Low availability of lender financing for some investor sales is leading to seller financing arrangements; a leased and stabilized building can attract a 6-6.5% loan while one leased at only 50-70% can only attract a loan at 10% interest

• Older offices are trying to renovate

• The creative new Environment, Social, and Governance considerations (ESG) are driving up development costs somewhat but are also attractive to quality tenants and to office lenders and to Wall Street in general

• New tenants shopping for space include technology companies, medical, and returning oil & gas firms; the emergence of tech firms in many industries is exciting to office building owners and their leasing brokers

• Last year there were 50 office investment transactions at a value of $2 billion

• Old outdated office buildings will be 'flushed' out of the system by special servicers and by the marketplace in general; many occupy infill sites which are attractive for redevelopment

• This year will see both big new leases AND downsizing by tenants

• A very large number of workers are still working from home, but the trend seems to be to return to the office environment; the majority of company layoffs have been to those insisting on working from home

• Some companies are rethinking their downsizing and are considering readding space

• By 2024 there will be definite positive absorption

Specialty Development Moderator: Barrett Von Blon-JLL Panelists: Richard Buxbaum-Radius Development; Ting Qiao-Wan Bridge; Brett Walker-Parkside Capital

Takeaway: Build-to-rent single family homes with more than two bedrooms are an exciting new concept and large master planned developments of them are on the ground and leasing up fast. Now the communities are including some 2 BR units to go head to head with M-F.

• Like any new concept, build-to-rent faces some pushback from permitting entities and neighbors, and they have to be educated about the new concept

• These communities provide top level 'concierge 5-star services' to their tenants

• The first reaction is that the tenants will be 'low-rent' but this is not the case, and often the tenants of these communities are more upscale incomewise than the neighborhoods they are adjacent to

• Calculating annual rental escalations is a challenge in this current economic environment

• Finding large sites for these communities is tricky

• These communities provide single-family benefits to those unable to purchase a home in the current interest rate environment

• Materials and labor costs have also driven up costs of single family homes, so build-to-rent is an attractive alternative

Retail Moderator: Lacee Jacobs-Midway Panelists: Tenel Tayar-Fifth Corner; Jason Baker-Katz

Takeaway: Fear of e-Commerce and the uncertainties of the pandemic stunted brick and mortar retail development while at the same time the sector was booming-and continues to boom. The result: severe shortage of space available to today's tenants. Houston has more retail space per our population of almost any other U.S. city. Tenants are having record sales. New construction is coming at a higher cost, with longer move-in times due to permitting delays and shortages of key items required for specialty fit and finish buildouts.

• Cap rate on investment sales: 6.4%; market rent growth: 5.5%; absorption forecast: 4,250,000 SF; new SF delivered next 12 mos.: 3,500,000 SF; vacancy rate: 4.5%

• Tenant improvement (TI) issues very big now as specialty floor plans and overall buildout requirements become more complex, especially with franchised tenants

• Many coffee shop tenants in the market, and there will be a fallout of some of them

• There is increasing demand for endcap drive-through spaces with no sit-down interior service

• Houston is now a 'flagship' retail market and demands attention from all national and local brands in other cities, and they are flocking here

• Houston retail sales are exceptional and this is not lost on national retailers

• More and more tenants are 'entertainment tenants' and restaurants, catering to people out to have fun

• Investors are now chasing Houston retail, which are considered to be a great value; sales are at mid-six to mid-seven cap rates

• Overall there will be demand for high-end Houston CRE product for years to come

• Texas is a non-disclosure state so it is difficult to know at what price CRE transactions take place

• Due to frenzied demand, some landlords are auditing their tenants and waiting them out so they can be replaced with tenants with higher sales volumes...and higher percentage rents-40-50% percent of deals now being negotiated are on space occupied by low-performing tenants


Industrial Moderator: Christen Vestal-Provident Panelists: Travis Land-Partners; Rob Stillwell-Newmark; Keith Edwards-Caldwell Companies

Takeaway: Activity still good, land prices up, close-in land availability down. Building and build-out materials are now stabilizing and costs are moderating some. Capital markets are challenging, in spite of the overall health of this sector. International firms are now wanting to come in because of our port, and this drives asset values.

• Wall Street is getting into the lending and equity industry now, competing with traditional lenders, who are being somewhat constrained by market factors. Local banks are overweight in industrial/warehouse loans, so there is a sort of bottleneck when it comes to availability of equity and development loans

• Some lenders are requiring 40-50% equity

• Construction and entitlement costs continue to rise, although at a little slower rate that last two years

• Somewhat lower construction costs are not enough to offset higher capital costs

• "A" development sites are available less often, so developers are having to make less desirable tracts work; it is better to pay top dollar for an "A" site than less for a less desirable tract

• Investment buyers are not seeing sellers coming down in prices; most sellers will wait it out to get 'their price'

• Regardless of our 'high' local site prices they are still low when compared to industrial tract prices in other cities

• When a warehouse is under construction, the developers are waiting as long as possible before quoting rates, since construction costs are a moving target

• Leasing rates are more are less similar in all of Houston's industrial submarkets

• Rates for the smaller 25-30,000 SF tenant are up and spaces are hard to find, since big box developers are refusing to subdivide their large buildings when they can rent it all to one large tenant

• National tenants are used to paying higher rents than are local Houston tenants

• The far-out sub-markets service more remote markets...Katy warehouses can service San Antonio; NW, Austin; North, Dallas; East, Beaumont and Western Louisiana. Incoming goods from the Port go out in all directions from Houston

• Warehouses are being built in Brenham, Dayton, Tomball, and all around the Grand Parkway...i.e. farther and farther out

• The ESG trend toward sustainable and environmentally conscious buildings is increasingly demanded by national tenants and national lenders

• Many tenants are asking for alternative energy sources on their buildings like solar

• Europe is further ahead on ESG that the US, but we are catching up

• With regard to attracting manufacturing to our warehouse industry in Houston, we have a broad labor pool of both blue collar and skilled labor

• The infrastructure at our port gives Houston's industrial sector a powerful backup

• Some big box users such as Amazon 'got ahead of their skis' during the pandemic and are downsizing now, but are only moving out of the older and less functional buildings

Joe Loverdi, South Texas Surveying Associates, Jasper Tramonte, CCIM, Tramonte Commercial Brokerage LLC, Adrian Combs, CCIM, Combs Commercial LLC Dillon Mills, Newmark and CCIM Houston 2023 President Emily Zarcaro, CCIM, NorthMarq.

Transwestern's Annual Trendlines Presentation, River Oaks Country Club

Featured Speaker: Patrick Jankowski, Sr. V.P. & Chief Economist for The Greater Houston Partnership

Takeaway: Overall Houston has recovered from the pandemic and our economy is poised for vigorous growth going forward.

• We have recovered all the jobs lost in the pandemic, and employment is at an all-time high

• Recovery has taken place in all commercial real estate (CRE) sectors except office, and that has stabilized; worst may be over for office

• Oil & gas exploration and hiring are lagging a bit while companies strengthen their balance sheets and give some return to their investor/shareholders; 65% of these companies plan to increase capital spending

• If there is a recession in Houston it will be short

• The port is one of our strongest economic drivers

• Construction permits are up as is our population since 2020-we are among the top five U.S. cities in population growth

• Industrial remains strong although the nature of the market is changing since the ‘covid boom’- Houston’s warehouses must supply the fifth largest Metro population in the country plus serving San Antonio, Austin, and other nearby mid-sized cities and towns

• Multi-family peaked 4-5 years ago but remains strong as high interest rates curtail single family home buying; 21,000 Class A units are under construction

• Retail is doing very well, serving the 7.2 million regional consumers (and growing); as usual, retail ‘follows rooftops’ as it moves to the distant suburbs

• Short term economic view: partly cloudy with patches of blue; long term: bright sunshine

Transwestern “House View”- Collective observations from the CRE professionals on the Transwestern team

• Some headwinds for all asset classes

• Interest rates are near the top now, and there is a positive outlook among investors for Houston area CRE

• There is continued institutional equity and debt interest in all Houston area asset classes; most assets here are in ‘pretty good shape’

• We are at ‘full employment’ in Houston and the port is setting records

• Houston CRE will outperform other cities, and we are well-positioned for the upturn

• One drawback is the lack of city and county economic incentives to incoming companies

• Industrial- 43 million SF absorption with 36 million under construction; we will be short of space, while having high demand; continued rent growth and shortage of space by 2024

• Retail- will benefit by continued population growth; mom and pop shops are being squeezed out by national retailers coming in, who can pay higher rents; we will have a supply constraint in this sector until 2025

• Multi-family-Houston was the second most active market in the country in 2022; there is softening in Classes B & C due to negative absorption; there is a slowdown in volume of investment transactions in this segment

• Healthcare-very strong; there are 32 million SF of health-oriented space in Houston market; demand strengthening for life science space, and this sector may be on the verge of ‘an explosion’; venture capital is coming into this sector; 190,000 SF of spec lab space will be absorbed in 2023

• Office-old buildings are ‘a dead man walking’; offices with loan maturities coming up in the next 24 months are in trouble; covid exposed obsolescence of older buildings, and there is a flight to quality: tenants will pay more for just the right environment; West Houston, The Woodlands, Uptown Houston, and the inner loop are the most sought-after locations; “back to the office” is in full swing here, although some ‘cube people’ don’t need to be in an office-they can work from home; idea flow makes things happen in a company and that requires physical presence of employees; expect chronic vacancy in old buildings

Chat between TW CEO Larry Heard & Revered businessman/consultant Greg Brenneman-Excerpts from the fast-moving chat and fast-moving slides

• Brenneman’s new book Right Away And All At Once was recommended

• Brenneman’s career included Harvard Business School, Bain Consultants, and working as turn-around consultant for such companies as Continental Airlines

• The need for careful and positive personal relationships was exemplified by the paraphrased quote from Mitt Romney: “In every interaction, you either gain or lose share”

• Warren Buffet was quoted: “Be fearful when others are greedy; be greedy when others are fearful”

• It was pointed out that previous energy transitions (i.e. wood to coal and coal to gas and oil) took very long times, and we must expect our transition to renewables to not happen ‘overnight’

• “Houston has the chance to lead the world in energy transformation”-we are set to lead the world in energy, in the various forms it will be taking

• It was emphasized how Houston is a leader in healthcare worldwide, and our medical center is second to none in the world; “the Texas Medical Center has it all pulled together”, including the excellence of Texas Childrens Hospital and the fact that Baylor College of Medicine supplies 50% of all the doctors in the TMC

• Houston is known for its diversity AND for its generosity, as private donors give back huge amounts of personal wealth

• “Let’s don’t forget that productivity is more important that statistical ‘job growth”

42 MARCH/APRIL 2023 event profile

From Tiny Acorns, Mighty Oaks Do Grow

Sitting in a boring business meeting in 1975, my mind began to wander. How to lease up the new two-story office building I had just completed on Richmond Avenue? Then the idea came: I'd plant a little grove of trees in the long, dull esplanade that lay in front of the building to make it more inviting.

So that's what we did, my partner John Kirksey and I, with shovels and some young pine and oak trees.

The newspaper did a story on this mini grove, and I was contacted by the late attorney and civic leader Carroll Shaddock, who saw the story and whose organization Billboards, Ltd., was well on the way to reducing Houston’s scourge of tall signs from 15,000 to 1,500, a project which took many years and much hard work.

Carroll was fascinated by the idea of planting trees on a barren Houston street, and he was looking to give birth to an organization focused on adding something to the city, in addition to taking something away (i.e., the billboards). It was noted that although Houston does not have beautiful mountain ranges or other topographical features, it DOES have a climate that can grow luxurious trees, creating neighborhoods like those found in and around Rice University and the Museum District.

Carroll asked me to serve on the board of directors of his redirected organization, and Billboards, Ltd., became Scenic Houston. Also on the board were numerous other civic leaders from branches of city government

Continued on Page 44

“Then the idea came: I'd plant a little grove of trees in the long, dull esplanade that lay in front of the building to make it more inviting.”

< ACORNS Continued from Page 43

and private citizens who wanted our city to be more attractive. I was a member of this board for over 30 years.

Carroll and the young organizations identified candidates for city council and mayor, and took them to lunch before before the elections to tell them about the various efforts on billboards and trees and ask for their support. Most of the candidates got on board with the beautification goals before they were elected and supported them ongoing after they began to serve.

Trees For Houston, a new organization specifically dedicated to planting and maintaining thousands of street trees was spun off, financed by private and corporate contributions. Trees were not just planted willy nilly and forgotten, but instead, long thoroughfares on all sides of the city were chosen and green corridors were planted to as to make a statement on a given street. Provisions were made for watering trucks to see the young trees through their early months while they were getting established.

Kirby Drive and Broadway from the Gulf Freeway to Hobby Airport are just two of many thoroughfares which have been enhanced by the efforts of Trees For Houston.

In the meantime, various projects by Scenic Houston, including specifications for walkable streets and parks—“Streetscapes”—were being noticed by other Texas cities, and they came to Houston for guidance in setting up their own programs. Scenic Texas was formed, which now encompasses towns and cities across the state. Instead of being the state poster child for haphazard no-zoning growth, Houston’s reputation slowly began to change.

Individual Houstonians, with dreams, energy and money have made a difference. Other world cities such as Paris, Vienna, Manhattan, and elsewhere, which are known for their open spaces, broad avenues, wooded parks and tree-lined esplanades, must also have been the result of individual citizens, years-or centuries-ago, who dreamed large. Houston and other Texas cities are following their lead, starting with dreams like tiny acorns.

And not only did our building lease up, but over time, other property owners the length of Richmond Avenue have planted this long throughfare with thousands and decorated it with urban sculpture.

Our original grove was at 6009 Richmond Avenue. Go see it and imagine it without one tree, as it was in 1975.

Ray Hankamer is a retired hotel and office building developer, who as General Partner of Southwest Inns, Ltd., operated at the peak fourteen hotels and five suburban office buildings, mostly located in the Greater Houston market.



KDS de stijl interiors, LLC

2006 E Cesar Chavez St. Austin, TX 78702

P: 512.457.1332


Key Contacts: Jill Laverentz, Owner,; Clark Kampfe, Principal,

Services Provided: Programming & Client Process Analysis – Due Diligence & Building Analysis – Schematic Design – Test Fit & Pricing Notes – Project Scheduling Goals – Consultant Team Formation – Cost Analysis & Value Engineering – Design Development – Construction

Documentation – Racking, Commodity, & Equipment Coordination – Permit Processing – Project Management – Construction Administration – Project Budgeting & Cost Tracking – As-Built Documents

Company Profile: KDS is a full-service commercial design firm with 30+ years of experience including 25,000,000+ SF of Industrial/Flex and 3,000,000+ SF of Office Projects. We are committed to responsiveness and to providing well designed and implemented solutions. Our extensive knowledge base and adept management of critical milestones creates consistently successful projects.

Notable/Recent Projects: American Canning – Austin, TX – 101,000 SF –

Manufacturing & Distribution

FlightSafety International – TX & OK – 186,000 SF Combined – Manufacturing

GT Distributors – Pflugerville, TX – 58,000 SF – Retail, Office, Fabrication, Storage & Distribution



945 Bunker Hill, STE 625 Houston, TX 77024

P: 832.856.4779


Key Contacts: Nate Rexroth, Executive Vice President, Asset Management;; Danielle Radtke, Senior Vice President, Asset Management;

Services Provided: CenterPoint Properties is an innovator in the investment, development, and management of industrial real estate and multimodal transportation infrastructure. CenterPoint acquires, develops, redevelops, manages, leases, and sells state-of-the-art warehouse, distribution, and manufacturing facilities near major transportation nodes. Our experts focus on port-proximate distribution infrastructure assets near America's major population centers.

Company Profile: CenterPoint Properties continuously reimagines what’s possible by creating ingenious solutions to the most complex industrial property, logistics, and supply chain problems. With an agile team, substantial access to capital, and industry-leading expertise, we give customers a competitive edge to ensure their success — no matter how great the challenge.



HOU: 1300 W. Sam Houston Pkwy S Suite 225, Houston, TX 77042

DAL: 10440 North Central Expressway Suite 720, Dallas, TX 75231


Key Contact: HOU: Nick Dwyer, Director of Business Development,

DAL: Brittany Schneider, Director of Business Development,

Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects.

Company Profile: Alston Construction’s success begins and ends with our approach to planning, scheduling, and choosing the right team. We have been adhering to an open and collaborative approach since our founding more than 35 years ago.

Notable/Recent Projects: Innovation Ridge Logistics Park, a 1.1 million SF 3 building industrial business park in Forney; 610 Business District, a 388,795 SF industrial park located in Houston; 1.2 million SF logistics facility located in Conroe.


98 San Jacinto Blvd, 4th Floor Austin, TX 78701

P: 512.872.6698


Key Contacts: Adam Miller, President,;

Doug Hayes, Project Executive,; Amber Autumn, Business Development,

Services Provided: Summit Design + Build, LLC is a provider of full service general contracting, construction management and design/ build construction services for the commercial, industrial, multifamily residential, office/tenant interiors, hospitality and institutional markets.

Company Profile: Located in downtown Austin and with offices in Tampa, FL, Chicago, IL and North Carolina, Summit Design + Build has been involved in the design and construction of over 400 buildings and spaces totaling more than 10 million square feet over the firm’s 18 year history.

Notable/Recently Completed Projects: Montage – 2323 S. Lamar (Multifamily), Congress Lofts at St. Elmo (Multifamily), UpCampus Student Housing Tallahassee (Multifamily), WeWork (Office TI), Eli’s Cheesecake (Industrial), Lockheed Martin (Industrial), Stadium Lofts North Carolina (Multifamily).



945 Bunker Hill, STE 625 Houston, TX 77024

P: 832.856.4779


Key Contacts: Jim Clewlow, Chief Investments Officer,; Rives Nolen, Senior Vice President, Investments,


One Oakbrook Terrace, Suite 400 Oakbrook Terrace, IL 60181



Key Contacts: Dave Petersen, CEO,; Bob Assoian, Executive Managing Director of Management Services,

Company Profile: Hiffman National is one of the US’s largest independent commercial real estate property management firms, providing institutional and private clients exceptional customized solutions for property management, project management, property accounting, lease administration, marketing, and research. The firm’s comprehensive property management platform and attentive approach to service contribute to successful life-long relationships and client satisfaction. As a nationally bestowed Top Workplace, and recognized CRE award winner, Hiffman National is headquartered in suburban Chicago, with more than 250 employees nationally and an additional six hub locations and 25 satellite offices across North America. For more information, visit

Services Provided: CenterPoint Properties is an innovator in the investment, development, and management of industrial real estate and multimodal transportation infrastructure. CenterPoint acquires, develops, redevelops, manages, leases, and sells state-of-the-art warehouse, distribution, and manufacturing facilities near major transportation nodes. Our experts focus on port-proximate distribution infrastructure assets near America's major population centers.

Company Profile: CenterPoint Properties continuously reimagines what’s possible by creating ingenious solutions to the most complex industrial property, logistics, and supply chain problems. With an agile team, substantial access to capital, and industry-leading expertise, we give customers a competitive edge to ensure their success — no matter how great the challenge.

For advertising opportunities in this section, please contact Susan Mickey at or 773.575.9030
JW MARRIOTT HOUSTON BY THE GALLERIA 5150 Westheimer Road, Houston, TX HOUSTON August 24, 2023


Houston, Texas • Redlands, California

A 360° A PPR O A C H



National Environmental Services, with offices in Houston, Texas and Redlands, California, is an environmental consulting company, established in 1995, that conducts a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround.

• Phase I Environmental Site Assessments (ASTM E1527-21)

•Transaction Screens (ASTM E1528-22)

• 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 Ser vices

• Indoor Air Quality/Mold Sur veys (Licensed Mold Consulting Agency)

• Underground Ground Storage Tank Testing Ser vices*

* Performed in Texas in partnership with Terrain Solutions, Inc., Texas Geoscience Firm Registration # 50018

National Environmental Services 5773 Woodway Dr, Suite 96, Houston, TX 77057: Phone (281) 888-5266 700 East Redlands Blvd, Suite U618, Redlands, CA 92373: Phone (951) 545-0250

Toll Free: (833) 4-Phase1 •

2537 S. Gessner, Suite 126 Houston, TX 77063 PRSRT STD U.S. POSTAGE PAID PERMIT NO. 2436 DALLAS, TX If this person is no longer with your company, please notify or call 713.661.6300 2023 North Houston FORECAST summit May 18, 2023 Scan for more information and to register: 4 hours of Continuing Education has been Applied for with TREC Sponsorship Opportunities Available April Daniel 713-661-6316 Abby Lestin 713-249-0242