Ramping Up Retail
Marcus & Millichap touts virtues of Texas Economics
10 Retail Trends in 2019
The Retail Dive Team takes on predictions for the year ahead
A Bicentennial City Redeveloped by Millenials
CEDAR HILL, TEXAS: Where Opportunities Grow Naturally New developments to the City of Cedar Hill are booming and designed with businesses, residents and consumers in mind. Next phase of development focuses on three distinct commercial areas within the City Center: Uptown, Midtown, and Historic Downtown Cedar Hill. For more information, see page 16
SPRING STUEBNER TWO LAND TRACTS SPRING, TEXAS 77389
TRACT 1: ±43,107 SF at the NWC of Highway 6 a Grisby Rd. with ±184’ of Highway 6 frontage a two curb cuts
ree land tracts just west of the Energy Corridor, e of Houston’s largest employment zones. Easily cessible from I-10, Memorial Dr., Westheimer Rd., d Westpark Tollway by way of Highway 6, with ghway 6 frontage on all three tracts. Located in arris countyt and zoned to Katy ISD
TRACT 2: ±47,759 SF at the SWC of Highway 6 a Grisby Rd., with ±115’ of Highway 6 frontage
Tract 1: ±4.52 acres at the NEC of Spring tes are within close to George Stuebner Rd. proximity and Roseville Dr. withBush two curbacre cutsforested on Spring Stuebner. rk, a 7,800 parkland with 11 miles
• Detention provided off site; Utilities available
TRACT 3: ±3.46 acres located on the west si •Highway Easy access tosouth I-45, Grand Parkway, andwith ±25 6, just of Memorial Dr., Hardy Toll Rd. of Highway 6 frontage and two curb cuts
trails that connects to Terry Hershey Park and Tract 2: ±3.16 acres at the NWC of Spring 12.2 miles of trails for an easily accessible Stuebner Rd. and Meadow Hill Dr. with one menity tocurb any cut project on Spring Stuebner
within 3within miles3 miles KRISTEN MCDADE
STEN MCDADE Senior Director ior Director 713.469.4509 email@example.com 469.4509 firstname.lastname@example.org
2018 ESTIMATED 2018 ESTIMATED DEMOGRAPHICS DEMOGRAPHICS
• Contact Broker for pricing
AVG. AVG.HOUSEHOLD HOUSEHOLD INCOME
AVG. AVG. HOUSING HOUSING VALUE
MATT DAVIS Associate Director 713.974.2407 Associate Director email@example.com 713.974.2407 firstname.lastname@example.org
$ $257,030 $394,872 VALUE
LAUREN GEARY LAUREN Manager GEARY Transaction 346.444.8968 Transaction Manager email@example.com
© 2019 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #998-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx
Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are con y by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mo lifornia, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #998-0701, Berkadia Commercial Mortgage Inc. under C
IN THIS ISSUE
10 28 18
1 – 3, 5, 7-9, 11, 13, 17, 19 -25, 27, 29, 43
Services Construction 15
Environmental 34, 47 Financial 13, 17, 31 Legal 13 Real Estate Summits 48
Events 36, 38, 40, 48 Social 37, 39, 41 Bulletin 42 – 44
Ramping Up Retail 10, 12, 14 Cedar Hill: About to Get Better 16 Houston Retail Evolution 26 Retail Trends to Watch 28, 30, 32 McAllen: Simply the Place to Be 33
RAY’S BUZZ Houston 2036 18, 46 4
EL CAMPO, TEXAS NOT YOUR AVERAGE SMALL TOWN!
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Designed by SEC – El Campo Leader-News
Letter from the Publisher
YOUR COMMERCIAL REAL ESTATE MARKETING SOURCE
PUBLISHER Ginger Wheless ginger@REDNews.com
EDITOR Margie Gohmert info@REDNews.com
Janis Arnold firstname.lastname@example.org
This is our 13th annual ICSC Recon issue which is being distributed at the conference this month in Las Vegas on May 19th – 22nd. Over the years we have experienced this event as a combination of listening/ learning and finding/connecting our clients with their clients and new prospects.
Ray Hankamer email@example.com Brandi Smith info@REDNews.com
MANAGING DIRECTOR Benton Mahaffey accounting@REDNews.com
In this issue, REDNews’ writer, Brandi Smith, recapped portions of Marcus & Millichaps’ 2019 Retail North American Investment Forecast on pages 10, 12 & 14. Marcus & Millichap predicts that retail this year will be “on par with 2018” and the single theme that runs through their 67-page analysis is “strength in technology”. The future of brick and mortar retail will continue to be dictated by online competition and the days of chasing rooftops are reportedly nearing their end. By and large, the retailers that have adapted to technology will continue to innovate and thrive.
This past January the RETAIL DIVE team published their “10 Retail Trends to Watch in 2019” and its interesting to note that sustainability is featured as one of the first in these retail trends. (see pages 28, 30 & 32)
REDNews is directly mailed each month to
Our June and July issues will feature Texas Development & Redevelopment properties and projects. And on June 27th we will be hosting a Texas Development/Redevelopment summit which will cover specific projects as well as “how & who” experts within those fields so mark your calendar to attend (https://resummits.com/houstondevredev/) and if you would like to take part in the summit as a sponsor, please give me a call or send me an email. I hope you have a very successful ICSC RECon experience and a fun-filled Memorial Day Holiday! Best Regards,
CREATIVE DIRECTOR Steve Smith digital@REDNews.com
SALES Ginger Wheless ginger@REDNews.com
PRINT & DIGITAL DISTRIBUTION commercial real estate brokers, investors and developers throughout Texas and the US. Texas Brokers: 8,150 Texas Leasing/Tenant Rep: 6,232 Texas Investors: 4,979 Texas Developers: 4,710 Outside Texas Investors, Brokers, Developers etc: 26,387
TOTAL QUALIFIED ONLINE REDNews DISTRIBUTION: 50,458 REDNews has gone green using recycled paper. Thank you Midway Press! To subscribe to REDNews call (713) 661-6300 or log on to REDNews.com/subscription.
2537 S. Gessner, Ste. 126 Houston, TX 77063
± 41 ACRES OFF I-45 IN HIGH-GROWTH AREA SWQ of FM 1764 and I-45 South, Galveston County SITE DETAILS • Traffic signal planned off FM 1764 mid-block on the property, creating two valuable commercial corners. • Just a 30 minute drive from Houston CBD, 4 miles north of Galveston Island. • Excellent development opportunity for a wide variety of commercial uses.
SITE AVAILABLE | LA MARQUE RE • Rapidly growing residential in the im401 Laurel Street | La Marque, Texas 77568 mediate area, including Lago Mar and Delany Cove, with a combined 8,000+ homes projected upon build out. LOCATION MAP • New Sam’s Club and Wal Mart just north of the property fronting FM 1764.
TRADE AREA STATS
TAP INTO TOURISM
• 2018 Estimated average household income is $105,690
• Minutes from Galveston Island tourism and cruise industries, plus NASAKemah-Bay Area Houston attractions
• 2018 Median Age is 35.4 • Population growth from 2010 to 2018 is 32.85 percent • Underserved grocery, retail and restaurants • Minutes away from Hobby, Bush and Ellington Airports • Access Two Class I rail lines and four deep-water ports • 2 mile radius UTMB Health, Gulf Greyhound Park, Mall of the Mainland and the Texas City Tanger Outlet mall
• Tanger Outlet Mall is a regional draw with 5 million+ annual visitors and retailors including as Brooks Brothers, Michael Kors, Ralph Lauren and Coach • Adjacent to the Tanger Outlets “Adventure Point” is under development of an amusement park and conference center
For more information,contact New Quest Properties:
Brad Lybrand firstname.lastname@example.org 713-438-9516
Rebecca Le email@example.com 281-477-4327
To learn more about La Marque and hear about incentives, contact:
P.O. Box 7272 | Tupelo, MS 38802 | 800.8 Alex Getty, Executive Director The information contained herein was obtained from sources believed to be reliable; however, The Retail Co completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions La Marque Economic Development Corp. 7 MAY 2019 firstname.lastname@example.org 409-938-9258 LMEDC.com
RAMPING UP RETAIL
Marcus & Millichap touts virtues of Texas Economies
BY BRANDI SMITH
Confidence in the retail commercial real estate market is on the rise in 2019, according to Marcus & Millichap. In its 2019 Retail North American Investment Forecast, the national brokerage firm points to a steady year of completions ahead, “on par with 2018.” The U.S. economy, it argues, is strong due to tax-induced growth and a tight labor market. The future of brick-and-mortar retail development, the firm suggests, will be dictated by online competition. Retailers are now tasked with offering something that isn’t available via a quick Google search: service-oriented businesses, “from healthcare to fitness to dining and a variety of entertainment venues.” Even in the face of multiple big-box retailers closing up shop, property owners have managed to turn things around, filling the storefronts instead with retailers looking for a smaller space.
Many of these properties are considered “undervalued relative to performance,” per Marcus & Millichap. If there’s a single theme that runs through the 67-page analysis, it’s ‘strength in technology.’ The rationale here is simple: cities with a heavy tech presence tend to have a higher salary base and more discretionary spending, a win for retailers. That’s evident in Marcus & Millichap’s highest-rated markets: Seattle and San Francisco, No. 1 and No. 2, respectively. Only two Texas cities slipped into the Top 10: Austin, No. 9, and Dallas, No. 10. San Antonio lands the 25th spot on the list, while Houston is No. 27. Detroit and St. Louis rounded out the 46-market list.
On a related note, investors are also looking to expand their portfolios to include smaller metro areas. Because there’s less construction in these areas, demand is peaking. 10
When it comes to assets in the Austin market, the analysis says the single-tenant sector will stay competitive. But it also suggests increased investor interest in grocery-anchored neighborhood centers, said to be “at the top of investors’ wish lists in 2019.” Looking to the end of 2019, Marcus & Millichap suggests asking rents will continue to rise, reaching $23.11 per square foot.
PROJECT TO WATCH IN AUSTIN:
Digital growth is also impacting the industry in a huge way because many of those previously onlineonly brands are expanding their physical footprint. Showrooms for web-based companies such as Warby Parker are becoming the new normal as a way to make sure customers have a full experience. As they do, Marcus & Millichap predicts the vacancy rate will stay low, helping to boost demand and asking rents. The analysis also suggests that the days of chasing rooftops are nearing their end. Instead, Marcus & Millichap points to the success of investors who track employees. Revitalized business centers and the workforce that comes along with them offer plenty of incentive for the creation of neighboring retail centers.
that could change in the near future as tech workers in some of the more expensive markets decide to relocate to a city with a much more affordable cost of living.
AUSTIN In the Texas capital, the job market is both a strength and weakness, dropping Austin from the No. 6 position in 2018. The unemployment rate, which hasn’t ventured far from 3 percent in roughly two years, indicates Austin’s economy is doing well. However, it’s also limiting growth; there just aren’t enough workers available to encourage companies to add to their payrolls. Marcus & Millichap predicts
Apple announced at the end of 2018 that it plans to build a new $1 billion campus in North Austin. Going in less than a mile from Apple’s existing campus, the new 133-acre project will add 5,000 workers initially, though the tech giant expects that number to expand to 15,000 in the future. Construction is expected to take until 2021.
AUSTIN FAST FACTS: May 2019 unemployment rate: 2.6% Estimated retail construction in 2019: 700,000 SF Estimated jobs added in 2019: 28,000
Continued on Page 12>
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Live • Work • Play Community River Walk FLOWER MOUND, TEXAS
109 PARKING GARAGE
This mixed-use development centered around a mile-long amenity-laden river creates a lavish destination in the heart of upscale and family-friendly Flower Mound. Uptown meets suburban luxury; located just 9 miles north of the DFW airport, conveniently located and easily accessible. The Courtyard by Marriott with full conference center and on-site catering offers exceptional access for corporate clients. The development hosts over 1,200 residential TEXAS HEALTH PRESBYTERIAN HOSPITAL units and a highly rated destination cancer treatment center; The Riverwalk is an exceptional live, work, play environment for office, retail and restaurant.
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RAMPING UP RETAIL
Marcus & Millichap touts virtues of Texas Economies
<Continued from Page 10
PROJECT TO WATCH IN DALLAS:
DALLAS-FORT WORTH In many ways, Dallas-Fort Worth is the economic opposite of Austin. While the two are both celebrating successes, their wins are generated in entirely different ways. As Austin struggles to add jobs, the Metroplex added 117,900 jobs in 2018 and is expected to add another six figures this year. The draw comes largely from the north, “where large office parks and master-planned communities are attracting workers,” says Marcus & Millichap. That growth pushed DFW up two places on the top markets list this year. DFW is also benefiting from an influx of out-of-state capital. As interest rates have increased, an emphasis on low-cap-rate markets has driven investor behavior. Developers won’t deliver quite as much retail space as they did last year, but with 3.1 million square feet estimated to come online in 2019, there is no shortage predicted. In fact, Marcus & Millichap anticipates vacancy rates will actually dip to 4.5 percent by the end of the year. 12
With its groundbreaking last summer, Hillwood Communities began building Pecan Square, its largest residential development. The $1.5 billion mixed-use community will stretch over 1,150 acres in Northlake, a northern suburb in the Metroplex. The first phase includes more than 600 homes, but there will be more than 3,000 when the development is complete. It will also have a state-of-the-art town square as a focal point, which will offer everything from coworking space to workout facilities to a classic Texas party barn.
DALLAS-FORT WORTH FAST FACTS: May 2019 unemployment rate: 3.5% Estimated retail construction in 2019: 3.1 million SF Estimated jobs added in 2019: 105,000
Continued on Page 14>
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Lee Arellano 713-520-5313 MAY 2019 firstname.lastname@example.org
RAMPING UP RETAIL
Marcus & Millichap touts virtues of Texas Economies
<Continued from Page 12
PROJECT TO WATCH IN HOUSTON: Houston-based Midway is getting started on what it bills as “one of the most important urban development sites for a generation”: East River, a mixed-use project spanning 150 acres along Buffalo Bayou. Less than a mile from downtown Houston, the master plan calls for a decades-long approach, creating distinctive districts within the massive project.
HOUSTON The largest city in Texas shows no signs of slowing down its population growth, boasting an average of 350 new residents every day. They’re coming for jobs; Houston added 111,110 positions in 2018, most of them outside the volatile energy sector. That shift is an indication that Houston is diversifying its job market, as well as a positive sign for the retail market. Just as in other Texas markets, investors are less keen on strip centers. They’re instead focusing their energy and assets on grocery-anchored neighborhood centers.
HOUSTON FAST FACTS: May 2019 unemployment rate: 4.1% Estimated retail construction in 2019: 4.1 million SF Estimated jobs added in 2019: 110,000
SAN ANTONIO FAST FACTS: May 2019 unemployment rate: 3.2% Estimated retail construction in 2019: 1.9 million SF Estimated jobs added in 2019: 9,000
SAN ANTONIO Developers will deliver more than twice as much retail space in 2019 as they did in the previous year. All that new construction comes with a price: an expected increase in the vacancy rate, which closed 2018 at 4.7 percent. With less than half of the space leased so far, Marcus & Millichap expects vacancy to finish 2019 around the 5 percent mark.
“Investors are targeting these properties due to modestly higher yields, which helps improve spreads,” according to the report. It also suggests that 2019 is the time to focus on single-tenant assets, like those offered up on pad sites, due to the new construction. Smaller strip centers are also expected to be a target for buyers because of a “less aggressive bidding climate.”
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Cedar Hill, One of the Best Walkable Cities in Texas,
is About to Get Even Better
Cedar Hill’s City Center Plan Makes for One of the Best Walkable Cities in Texas Cedar Hill is widely known for having some of the best hiking in Dallas, and that tie to nature and walking is also evident in the City Center Development Plan. New enhancements to the City of Cedar Hill are on the
of Cedar Hill – Uptown, Midtown and Historic Downtown – each of which has distinct needs and opportunity. By creating a plan that benefits each zone, the Cedar Hill as a whole is strengthened and made more appealing to both brands and consumers. The focus on accessibility and enhanced walkability is also designed to draw patrons from the best suburbs around Dallas and to make Cedar Hill a charming and attractive destination for shopping, dining, work and play.
Transit-Oriented Development Vision The heart of the development plan is an enhanced focus on transit-oriented development (TOD). This approach takes a long-term view of the area and integrates improvements that increase commerce and visitor counts but decrease traffic and carbon emissions. The result is a diverse and thriving marketplace with a balanced mix of commerce, retail and restaurant and residential zones that benefit both businesses and consumers. way, and they are designed with businesses, residents and consumers in mind. The next phase of development for the city focuses on improving the accessibility and walkability of each of the three distinctive zones within the City Center area including historic downtown. These improvements are designed to make the city easier to explore, more convenient to shoppers and employers and to build upon an already thriving and unique downtown area. As one of the best suburbs in Dallas, the City of Cedar Hill already draws new arrivals from all over the state; the latest enhancements make it easier than ever to enjoy all the city has to offer.
The Next Phase of Development for Cedar Hill The enhanced walkability is part of the City of Cedar Hill’s ongoing improvements and is designed to build upon the success of the overall Vision Plan. This stage, called the City Center Development Plan, focuses on taking one of the best downtowns in Texas and making it more easily accessible to pedestrians and visitors from the local area. The plan focuses on benefits for the three sub-districts
Benefits of Enhanced Walkability For businesses in the area – or businesses planning to open in the area – the enhancements to Cedar Hill’s walkability means more opportunity. By creating appealing, easy-to-access and clearly defined walking areas, the town makes it easy for pedestrians to explore. When shoppers, hungry patrons and workers can simply walk to their destination without the hassle of driving or looking for parking they are more likely to stay right in town – and use local businesses. The City of Cedar Hill is already considered one of the best places to visit in Dallas-Fort Worth; the upcoming changes make this desirable destination even more appealing to visitors. The current emphasis on healthy lifestyles means these changes come at a great time and that more foot traffic than ever before will be window shopping and accessing local restaurants and cafes for breakfast, lunch and dinner. Businesses can tempt shoppers with the smell of coffee, fresh-baked pastries or savory lunch specials as they walk by – and take advantage of display
window space to showcase new arrivals and seasonal goods to slower-paced foot traffic. Walkable cities in Texas enjoy more visitors, more commerce and more revenue every week. For consumers, the ability to simply walk where they need to go or find easy and secure public transportation reduces costs and hassle. Without parking or traffic woes, these potential shoppers and diners are able to get in a healthy walk and access friendly, local services and brands more easily than ever before. Attracting more businesses to the area also makes the City of Cedar Hill more appealing, making this already thriving area even more of a draw for potential shoppers. As more brands and organizations take advantage of Cedar Hill’s prime location, diverse customer base and unique advantages, more jobs will be created in the area, resulting in additional commerce and a boost to the local economy. In turn, businesses will be able to access a broad range of talent, as workers can more easily arrive in town from surrounding suburbs and are attracted to the benefits of living in this thriving community. Reducing traffic helps cut down on carbon emissions, allowing for a greener place to live, work and play for all, one of the long-term goals of the City of Cedar Hill. By dramatically reducing the amount of traffic in the area at peak times (work arrival, lunch, etc.), Cedar Hill becomes more appealing to walkers and visitors and more accessible to all. The coming enhancements allow the City of Cedar Hill to continue to be one of the top destinations and suburbs in Texas.
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A BICENTENNIAL CITY REDEVELOPED BY MILLENNIALS
1,1 72 Lo
Takeaway: Graduate students presented what their generation wants in their city, and seasoned developers present three mega-projects currently in planning which will deliver to the Millennials what they want. What The Students Want for Houston: Presenters- Mark Garcia-Prats & Cody Mitchell. Team members - Chad Cox & Timothy Trahan. HEALTH & WELLNESS ● Active lifestyle ● Walking and public transport, life less dependent on the automobile; more protection for pedestrians and cyclists ● Public places for human interaction such as shops and restaurants ● Healthy food ● Safe neighborhoods ● Quality healthcare availability at reasonable cost DAILY WORKING CONDITIONS ● Office space designed to please users; more work from home ● Workspace customized for productivity and comfort, fewer private offices ● Flex time; more open space; consideration of tending to family needs during the week ● Rethinking how people use space; dedicated office space will shrink going forward PRODUCTION ● Robots and artificial intelligence will be more common in construction and other industries; lives more driven by ‘tech’ ● More prefabrication and ‘printed’ buildings ● More and more reliance on data in every facet of our lives MOBILITY AND LIVING PATTERNS: ● More density of dwellings connected by multi-modal transportation options such as electric scooters, bikes, bus rapid transit (BRT), commuter rail, commuter motor coaches, car sharing companies like Lyft and Uber 18
● Denser suburban nodes, easier to connect with transit network ● Those that plan ahead will be the most successful ● We must increase the level of cooperation between public and private entities to ensure that we achieve what the City Houston needs to be by 2036
What the Forward Thinking Developers are Planning for Houston:
26 2,3 Lo Su W
Courtesy: Lovett Commercial
● Post Houston-occupying the former downtown central post office, Post Houston will be a 500,000 SF mixed use development accessible by walking to rail and bus connections in the CBD; rooftop parking and farm; shops, restaurants, and much more Continued on Page 46 >
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228,208 SF Power Retail Center in the Core of Harlingen’s Retail Traded Area
228,208 SF Power Retail Center in Core the Core of Harlingen’s Retail Traded 228,208 SF Power Retail Center in the of Harlingen’s Retail Traded AreaArea HARLINGEN CORNERS 20,000 SF &&58,000 SF to or Leases 20,000 SF 58,000 SFAvailable Available forBuild Build toSuit Suit orGround Ground Leases HARLINGEN CORNERS 20,000 SF & 58,000 SF Available for for Build to Suit or Ground Leases 2713-2821 Highway 83,for Harlingen, TXUse 78552 HARLINGEN CORNERS 112713-2821 acre Site Great Restaurant Available CORNERS acre Pad Site Great for Restaurant Use Available 83, Harlingen, TX Use 78552 1HARLINGEN acre PadPad SiteHighway Great for Restaurant Available
228,208 SF Power Retail Center in the Core Harlingen’s Retail Traded Area Strong National Tenant Mix 2713-2821 Highway 83, Harlingen, 78552 Strong National Tenant Mix 2713-2821 Highway 83, Harlingen, TXof 78552 • 228,208 SF Power Retail Center in theTX Core of Harlingen’s Retail Traded Area Strong National Tenant Mix 20,000 SF & 58,000 SF Available for Build to Suit or GroundRetail Leases 228,208 SF Power Retail Center in the Core of Harlingen’s Traded 228,208 SF Power Retail Center in the Core of Harlingen’s TradedArea Area • 20,000 SF & 58,000 SF Available for Build to Suit or GroundRetail Leases 120,000 acre Pad Site Great for Restaurant Use Available SF 58,000 SF for 20,000 SF&& 58,000 SFAvailable Available forBuild Build toSuit SuitororGround GroundLeases Leases • 1 acre Pad Site Great for Restaurant Useto Available Strong National Tenant Mix 11acre Pad Great for Use acre PadSite Site Great forRestaurant Restaurant UseAvailable Available • Strong National Tenant Mix 3000 Pablo Kisel Blvd. 3000 Pablo Kisel Blvd. Strong StrongNational NationalTenant TenantMix Mix 3000 Pablo Kisel Blvd.
SUNRISE PALMS SUNRISE PALMS SUNRISE PALMS
Brownsville, SUNRISE PALMS Brownsville, TX78526 78526 Brownsville, TXTX 78526 SUNRISE PALMS
Located Across from H-E-B Four Entrance Points Provide •2,248-6,126 Four Entrance Points Provide Located Across from H-E-B SF Available Located Across from H-E-B 2,248-6,126 SF Available & Walmart Four Entrance Points Provide 1,112-3,175 SF Available Located •Easy Located Across from H-E-B Across from H-E-B Brownsville’s Premier Shopping Brownsville’s Premier Shopping Access into Center Easy Access into Center Brownsville’s Shopping & Walmart Premier 72,020 SF Target Shadow-Anchored Shopping Center &Located Walmart Center Center Across from H-E-B Located Across from H-E-B Center • Brownsville’s Premier Shopping Prime Retail Corridor Located East of SH 249 & FM 1960 along Houston’s Brownsville’s &Center &Walmart Walmart Premier Shopping Center Brownsville’s Premier Shopping SHADOW CREEK Brownsville’s Premier Shopping SHADOW CREEK SHADOW CREEK Center Center PASEO REAL SHADOW CREEK Easy Access into Center 6911-6935 West FM 1960, Houston, TXProvide 77069 &&Walmart Easy Access into Center Walmart Four Entrance Points
MARKETPLACE MARKETPLACE SHADOW CREEK 2100 Ruben Torres Blvd. MARKETPLACE MARKETPLACE 11041 Shadow Creek Pkwy 11041 Shadow Creek Pkwy 11041 Shadow Creek Pkwy SHADOW SHADOW CREEK Brownsville, TX 78526 MARKETPLACE 11041 Shadow CreekCREEK Pkwy Pearland, TX 77584 Pearland, TX 77584 Pearland, TX 77584 Pearland, TX 77584 2,248-6,126 SF Available 11041 Shadow Creek Pkwy MARKETPLACE MARKETPLACE 250,000 SF • 1,473 SF Available 250,000 SFMaster-Planned, Master-Planned, Four Entrance Points Provide
250,000 SF Master-Planned, Pearland, TX 77584 11041 Shadow Creek 11041 CreekPkwy Pkwy Class AShadow Retail Center • 250,000 SF Easy Access into Center Class AMaster-Planned, Retail Center Class A Retail Center 250,000 SF Master-Planned, Pearland, TX 77584 Pearland, TX 77584 Class A RetailNW Center Located Located Corner of TX Hwy Located NW Corner of TX Hwy Across from H-E-B Located NW Corner of TX Hwy A Retail Center 250,000 SF Master-Planned, 250,000 SFCorner Master-Planned, •Class Located NW of TX Hwy & Walmart 288 & Shadow Creek Pkwy 288 & Shadow Creek 288 && Shadow Creek Located Corner ofPkwy TXPkwy HwyBrownsville’s Premier Shopping 288 Shadow Creek Pkwy Class AANW Retail Center Class Retail Center Strong National Tenant Mix Strong National Tenant Mix Strong National Tenant Mix & Shadow Creek Pkwy •288 Strong National Tenant Mix Located Center LocatedNW NWCorner CornerofofTX TXHwy Hwy Strong National Tenant Mix 288 & Shadow Creek Pkwy 288 & Shadow Creek Pkwy Strong StrongNational NationalTenant TenantMix Mix SHADOW CREEK
804-6,460 SF Available 3000 Pablo Blvd. 804-6,460 SF Available SUNRISE PALMS SUNRISE PALMS 804-6,460 SF Available 3000 Pablo KiselKisel Blvd. Lease for Lease Brownsville, TX 78526 3000 Pablo Kisel Blvd. Brownsville, TX 78526 for for Lease 3000 Pablo Kisel Blvd. Prime Visibility from Hwy SFAvailable Available Prime Visibility from Hwy 77 •804-6,460 804-6,460 SF for Lease Prime Visibility from Hwy 77 77 Brownsville, TX Brownsville, TX78526 78526 HARLINGEN•for CORNERS 98,346 SF Retail Center Built Lease 98,346 SF Retail Center Built Prime Visibility from Hwy 77 804-6,460 SF Available 98,346 SF Retail Center Built 804-6,460 SF Available 2713-2821 Highway 83, Harlingen, TX 77 78552 inin Visibility Hwy 2005 •Prime 98,346 SF2005 Retailfrom Center for inLease 2005 for Lease 228,208 SF Power Retail Center in Center the Core of Harlingen’s Re 98,346 SF Retail Built Located Adjacent to Located Adjacent to from Hwy • Prime Built inVisibility 2005 Prime Visibility from Hwy 77 or Ground Located Adjacent to 20,000 SF & 58,000 SF Available for Build to 77 Suit 2005 Sunrise Mall Sunrise Mall SF Center Built 98,346 SFRetail Retail Center Built •in98,346 Located Adjacent to Sunrise Mall 1 acre Pad Site Great for Restaurant Use Available Sunrise Mall Located inin2005 Strong National Tenant MixAdjacent to 2005 Sunrise Mall Located Adjacent Located Adjacenttoto Sunrise SunriseMall Mall SUNR
SUGAR POINT SUGAR POINT SUGAR POINT GATEWAY STATION SHOPPING CENTER SHOPPING CENTER SUGAR POINT SHOPPING CENTER 3000 P 12846 – 12850 South Freeway 9920 Hwy 90 9920 Hwy 90 SUGAR POINT 9920 90 SUGAR POINT Burleson, TX Hwy 76028 SHOPPING CENTER Brown Land ,TX 77478 Sugar Land ,TX 77478 804-6,4 Sugar ,TX 77478 •9920 1,500 –Sugar 2,534Land SF Hwy 90Available SHOPPING CENTER SHOPPING CENTER 2,212-3,897 2,212-3,897SF SFAvailable Available for Leas 2,212-3,897 SF Available •Sugar 450,000 SF Master Planned, Land ,TX 77478 9920 Hwy 90 9920 HwyCenter 90 Class AHard PowerCorner of Hard Corner ofHwy Hwy 90 2,212-3,897 SF Available Hard Corner of 90 90 Sugar Land ,TX 77478 Sugar Land ,TXHwy 77478 • Anchored by National Retailers & Dairy Ashford & Dairy Ashford & Corner Dairy Ashford 2,212-3,897 SF Available Hard of Hwy 90 2,212-3,897 SF Available • High Visibility Frontage on I-35, and Traffic Count Exceeds Traffic Count Exceeds Traffic Count Exceeds &Hard Dairy Ashford McAlister Rd, 112,000 Cars ofofHwy 90 HardCorner Corner Hwy 90Per Day 78,000 Cars 78,000 Cars PerDay Day 78,000 Cars PerPer Day Traffic Count Exceeds &&Dairy Ashford Dairy Ashford 78,000 Cars Per Day Traffic TrafficCount CountExceeds Exceeds 78,000 78,000Cars CarsPer PerDay Day
11041 Shadow Creek Pkwy Pearland, TX 77584
2600 TRAVIS 2600 TRAVIS 2600 TRAVIS 2600 Travis St., Houston, TX 77006 2600 TRAVIS 2600 Travis • 2,392-3,192 SF Available 2600 Travis St.,Houston, Houston, TX77006 77006 2600 Travis St.,St., Houston, TX TX 77006 2600 Travis St., Houston, 77006 Houston 2600 TRAVIS 2600 TRAVIS • Located inSF the Heart TX of Midtown 2,392-3,192 SF Available 2,392-3,192 Available 2,392-3,192 SF Available
250,000 SF Master-Planned, Class A Retail Center Located NW Corner of TX Hwy 288 & Shadow Creek Pkwy Strong National Tenant Mix
LA MARQUE SHOPPING CENTER
Walking WalkingDistance Distancetotothe theMetro Metro Rail Coni Rail Jenkins
Prime Visibility from I-45 South
9920 H Sugar
SUGAR POINT SHOPPING CENTER
LA MARQUE SHOPPING CENTER ANGLETON FOUR CORNERS LA MARQUE SHOPPING CENTER ANGLETON ANGLETON FOUR CORNERS 6402 Gulf Freeway,SHOPPING La Marque, TX 77568CENTER 9920 Hwy 90 Sugar Land ,TX 77478 LA MARQUE FOUR CORNERS LA6402 MARQUE SHOPPING CENTER ANGLETON FOUR CORNERS • 3,200 SF End Cap Available • 2,212-3,889 SF Available Gulf Freeway, La Marque, TX 77568 1800 N Velasco, Angleton, TX 77515 6402 Gulf Freeway, La Marque, TX 77568 1800 N Velasco, Angleton, TX 77515 6402 Gulf Freeway, La Marque, TX 77568 1800 N Velasco, Angleton, TX 77515 6402 Gulf Freeway, LaCenter Marque, TX 77568 CENTER Velasco, Angleton, TX&77515 LA MARQUE SHOPPING ANGLETON FOUR CORNERS • 16,500 Retail •N Hard Corner of Hwy 90 Dairy Ashford LA MARQUE SHOPPING CENTER 1800 ANGLETON FOUR CORNERS 3,200 SF End Available 1,800-6,700 SF Available 3,200 SFSF End Cap Available 1,800-6,700 SF Available 3,200 SF End CapCap Available 1,800-6,700 SF Available
2,392-3,192 SF Available 3,200 SF End Cap Available • Shadowed by Wal-Mart & Sam’s Club • Surrounded by High-End Condos 2600 Travis St., Houston, TX 77006 6402 Gulf Freeway, La Marque, TX Located ininthe Heart of Houston 16,500 SF Retail Center 2600 St., Houston, TX 77006 6402 Gulf Freeway, La Marque, TX77568 77568 Located the Heart ofMidtown Midtown Houston 16,500 SF Retail Center Located inTravis the Heart ofof Midtown Houston 16,500 SF Retail Center • Prime Visibility from I-45 South Located in the Heart Midtown Houston 16,500 SF Retail Center • Walking Distance to the Metro Rail 2,392-3,192 SF Available 3,200 SF End Cap Available 2,392-3,192 SF Available 3,200 SF End Cap Available Surrounded by High-End Condos Shadowed by Wal-Mart & Sam’s Club Surrounded by High-End Condos Shadowed by Wal-Mart & Sam’s Club Surrounded by by High-End Condos Shadowed by Wal-Mart Wal-Mart Sam’s Club Surrounded High-End Condos Shadowed &&Sam’s Club Located ininthe Heart ofofMidtown Houston 16,500 SF Retail Located the Heart Midtown Houston 16,500 SFby RetailCenter Center Walking Distance to the Metro Rail Prime Visibility from I-45 South Walking Distance to Metro the Metro Rail Prime Visibility from I-45 South Walking Distance to the Rail Prime Visibility from I-45 South Walking Distance toFOR the Metro Rail INFORMATIONPrime Visibility from Surrounded by Condos Shadowed by &South Surrounded byHigh-End High-End Condos Shadowed byWal-Mart Wal-Mart &Sam’s Sam’sClub Club MORE ON THESE ORI-45 OTHER AVAILABLE
Prime V 98,346 in 2005 Located Sunrise
Hard Co & Dairy Traffic C 78,000
1,800-6,700 SFSF, Available •Traffic Count Exceeds 78,000 Cars Per Day 1800 N Angleton, TX 77515 141,520 44Star Retail Center 1800 NVelasco, Velasco, Angleton, TX 77515 141,520 Star Retail Center 141,520 SF, 4SF, Star Retail Center 141,520 SF, 4 Star Retail Center 1,800-6,700 SF 1,800-6,700 SFAvailable Available Kroger-Anchored Center Kroger-Anchored Center Kroger-Anchored Center Kroger-Anchored Center 141,520 SF, Retail Center 141,520 SF,4is4Star Star Retail Center Center Located Across Walmart Center is Located Across Walmart Center is Located Across Walmart Center is Located Across Walmart Kroger-Anchored Center Kroger-Anchored Center PROPERTIES, PLEASE CONTACT Center is Located Across Walmart
Prime Visibility from I-45 South Center is Located Across Walmart Peggy Rougeou •OR email@example.com Nick Tarantino, CCIM FOR MORE INFORMATION ON THESE OTHER AVAILABLE PROPERTIES, PLEASE CONTACT FOR MORE INFORMATION ON THESE OR OTHER AVAILABLE PROPERTIES, PLEASE CONTACT FOR MORE INFORMATION ON THESE OR OTHER AVAILABLE PROPERTIES, PLEASE CONTACT FOR MORE INFORMATION ON OR OTHER AVAILABLE PROPERTIES, PLEASE CONTACT firstname.lastname@example.org Eric Drymalla, CCIM • email@example.com firstname.lastname@example.org Coni Jenkins Peggy Rougeou • email@example.com Nick Tarantino, CCIM (210) 212-6222 (713) 974-4292 (512) 302-4500 Coni Jenkins Peggy Rougeou • LA firstname.lastname@example.org Nick Tarantino, CCIM FOR MORE INFORMATION THESE OR OTHER AVAILABLE PROPERTIES, PLEASE CONTACT FOR MORE INFORMATIONON ON THESE OR OTHER AVAILABLE PROPERTIES, PLEASE CONTACT Coni Jenkins Peggy Rougeou email@example.com Nick Tarantino, CCIM Coni Jenkins Peggy Rougeou ••firstname.lastname@example.org Nick Tarantino, CCIM 2600 TRAVIS MARQUE SHOPPING CENTER ANGLETON FOUR C
email@example.com Drymalla, CCIM • •firstname.lastname@example.org email@example.com firstname.lastname@example.org Eric Drymalla, CCIM email@example.com firstname.lastname@example.org 12770 Cimarron Path, Ste 122 7887 Eric SanEric Felipe, Ste 237 502 East 11th Street, Ste 400 email@example.com Drymalla, CCIM firstname.lastname@example.org email@example.com firstname.lastname@example.org Drymalla, CCIM • •email@example.com firstname.lastname@example.org 2600 Travis St., Houston, TX 77006 6402 Gulf Freeway, La Marque, TX 77568 Coni Jenkins Peggy Rougeou • •email@example.com Nick Tarantino, CCIM (210) 212-6222 (713) 974-4292 (512) 302-4500 Coni Jenkins Peggy Rougeou firstname.lastname@example.org Nick Tarantino, CCIM 1800 N Velasco, Angleton, TX 77 (210) 212-6222 (713) 974-4292 (512) 302-4500 San Antonio, TX 78249 Houston, TX 77063 Austin, TX 78701(512) (210) 212-6222 974-4292 302-4500 (210) 212-6222 (713) 974-4292 (512) 302-4500 email@example.com Eric Drymalla, CCIM •Ste firstname.lastname@example.org email@example.com 2,392-3,192 SF Available 3,200 SF End Cap Available 1,800-6,700 Available 12770 Cimarron Path, Ste 122 7887 San Felipe, Ste 237 502 East 11th Street, Ste firstname.lastname@example.org Eric Drymalla, CCIM • email@example.com firstname.lastname@example.org 12770 Cimarron Path, Ste 122 7887 San Felipe, 237 502 East 11th Street, Ste400 400 SF19 12770 CimarronPath, Path,Ste Ste122 122 502502 East 11th2019 Street, Ste 400 12770 Cimarron 7887 San San Felipe, Felipe,Ste Ste237 237 East 11th Street, Ste 400 MAY (210) 212-6222 (713) 974-4292 (512) 302-4500 (210) 212-6222 (713) 974-4292 (512)Austin, 302-4500 San Antonio, 78249 Houston, TX TX Located in the Heart of Midtown Houston 16,500 SF Retail Center San Antonio, TX 78249 Houston, TX77063 77063 Austin, TX78701 78701 141,520 SF, 4 Star Retail Center San Antonio, TXTX 78249 Houston, TX 77063 Austin, TX 78701 San Antonio, TX 78249 Houston, TX 77063 Austin, TX 78701 12770 7887 502 12770Cimarron CimarronPath, Path,Ste Ste122 122 7887San SanFelipe, Felipe,Ste Ste237 237 502East East11th 11thStreet, Street,Ste Ste400 400 Surrounded by High-End Condos Shadowed by Wal-Mart & Sam’s ClubAustin, TX 78701 Kroger-Anchored Center San Houston, SanAntonio, Antonio,TX TX78249 78249 Houston,TX TX77063 77063 Austin, TX 78701 Walking Distance to the Metro Rail Prime Visibility from I-45 South Center is Located Across Walm
www.tarantino.com www.tarantino.com www.tarantino.com www.tarantino.com www.tarantino.com www.tarantino.com
ASCENT PLAZA 16356 Mueschke Rd 10,300 Sq Ft
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| LEVCOR.com L BOOT H713.952.0366 #S4067 DR I VI N G
• BURLINGTON • WACO DEL RIO • TEXAS CITY
MAY 2019 713.952.0366
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RESERVE YOUR SPACE NOW | email@example.com | www.rednews.com
16356 Mueschke Rd 10,300 Sq Ft
ASCENT PLAZA 16356 Mueschke Rd 10,300 Sq Ft
PRIME RETAIL SITES IN NORTHWEST HOU PRIME PRIME RETAIL RETAIL SITES SITES IN NORTHWEST IN NORTHWEST HOUSTON HOUSTON
CYPRESS CYPRESS CROSSING CROSSING Hard Corner Hard at Corner Highway at Highway 290 & FM 290 1960 & FM 1960 • Prime mixed-use • Prime mixed-use offering offering restaurants, restaurants, CYPRESS CROSSING retail, pad retail, sites pad andsites office and space office space • Major tenants • Major include tenants Kelsey-Seybold include Kelsey-Seybold & & Corner at Highway 290 & FM 1960 Lazy Hard Dog Lazy Restaurant Dog Restaurant • Prime mixed-use offering restaurants, • Pad sites • Pad available sites available - excellent - excellent visibility visibility • Staybridge • Staybridge Suites breaking Suites breaking ground soon! ground retail, pad sites and office spacesoon!
• Major tenants include Kelsey-Seybold & Lazy Dog Restaurant • Pad sites available - excellent visibility • Staybridge Suites breaking ground soon!
BOARDWALK BOARDWALK AT TOWNE AT TOWNE LAKE LAKE
Barker Cypress Barker Cypress Rd. & Tuckerton Rd. & Tuckerton Rd. Rd. • Retail, •restaurant Retail, restaurant and office and space officeavailable space available AT TOWNE • Located • Located at the entrance at theBOARDWALK entrance of TowneofLake Towne Lake Community Community Barker Cypress Rd. & Tuckerto • 1 mile north • 1 mile ofnorth Lone of Star Lone College Star College Cy-Fair Cy-Fair •under Retail, restaurant and office space • Next phase • Nextunder phaseconstruction construction • Surrounded • Surrounded by many by residential many residential communities communities • Located at the entrance of Towne
Community • 1 mile north of Lone Star College C • Next phase under construction • Surrounded by many residential c
ALDI ANCHORED ALDI ANCHORED RETAIL RETAIL
TOWNE TOWNE LAKE RETAIL LAKE RETAIL
SWC of SWC Kuykendahl of Kuykendahl Rd. & Hufsmith Rd. & Hufsmith Rd. Rd. • Retail space • Retailfor space leasefor lease • Pad site • Pad for sale site for sale • Anchored • Anchored by Aldi Foods by Aldi Foods • Easy access • Easyand access excellent and excellent visibilityvisibility • Located • Located just south just ofsouth The Woodlands of The Woodlands • 0.5 miles • 0.5 south miles ofsouth new Creekside of new Creekside Park Village Park Village
Tuckerton Tuckerton Rd. & Towne Rd. &Lake Towne Pkwy. Lake Pkwy. • Only one • Only space oneremaining space remaining • Adjacent • Adjacent to Kroger tomarketplace, Kroger marketplace, across from across from The Boardwalk The Boardwalk at TowneatLake Towne Lake • Join major • Join retail, major medical retail, medical and restaurants and restaurants • Approximately • Approximately 292,000292,000 people and people 97,000 and 97,000 households households within a within 5 mile aradius 5 mile radius
For additional For additional information information about these about retail these opportunities: retail opportunities: ALDI ANCHORED RETAIL
TOWNE LAKE RETA
Mary Caldwell, Mary Caldwell, CCIM, SIOR CCIM, SIOR Hufsmith Rd. MCaldwell@CaldwellCos.com MCaldwell@CaldwellCos.com 281.664.6636 281.664.6636
SWC of Kuykendahl Rd. & Tuckerton Rd. & Towne Lake • Retail space for lease • Only one space remaining Pad site for sale •allAdjacent to Kroger marketplace, a Caldwell•Companies Caldwell Companies has over 29 hasyears overof 29unmatched years of unmatched market experience market experience and local expertise and local expertise to serve alltoyour serveretail your leasing retail and leasing brokerage and brokerage needs. needs. • Anchored by Aldi Foods The Boardwalk at Towne Lake • Easy access and excellent visibility • Join major retail, medical and rest • Located just south of The Woodlands • Approximately 292,000 people an 21 MAY 2019 Houston Houston | Cypress | | Cypress The Woodlands | The Woodlands | College | Station College | Station Caldwellcos.com | Caldwellcos.com | 713.690.0000 | 713.690.0000 • 0.5 miles south of new Creekside Park Village households within a 5 mile radius For additional information about these retail opportunities: Mary Caldwell, CCIM, SIOR
PRIME RETAIL/RESTAURANT SPACE ON INTERSTATE 10/KATY FREEWAY HIGH GROWTH KATY AREA (88.8% INCREASE SINCE 2000) Ideal Location • Excellent Visibility • Extremely High Traffic Count
New Retail: Katy Mills Plaza 2404 Texmati
Pre-Leasing: The Shops at Cane Island 27252 Katy Freeway
Shadow Anchored by Bass Pro & Katy Mills Mall
• On Interstate 10 in front of Katy Mills Mall • 1,020 SF – 20,000 SF Available • End Caps with potential drive-thru • $50/sf Tenant Improvement Allowance • Near new Katy Convention Center • Up and coming area with National Credit Tenants minutes away • Adjacent to Katy Mills Mall, Texas Typhoon & the new Katy Boardwalk District
Shadow Anchored by Buc-ee’s
• On Interstate 10 and next to Buc-ee’s • 1,500 sf – 19,543 SF Available • $20/sf Tenant Improvement Allowance • End Caps with potential drive-thru & pad site • Close proximity to Cane Island’s 1,100 acre master planned community • Ground leases available
Retail or Ground Lease: Retail Space Hwy 90 @ Cane Island
New: Shopping Center Coming to West Ten!
West Ten Business Park near Buc-ee’s
• On Interstate 10 at Cane Island • 6000 SF Available • $30/sf + NNN • In the prime West Ten Business Park near Buc-ee’s • Close proximity to Cane Island’s 1,100 acre master planned community • Extremely high daily traffic • Great visibility • Ideal location in Katy
Retail Space Hwy 90 @ Cane Island
Shopping Center Coming to West Ten!
Katy Mills Plaza 2404 Texmati
The Shops at Cane Island 27252 Katy Freeway
• 4,000 SF Retail Space Available • Located in the prime West Ten Business Park vicinity
Joe Rothchild, Broker | 713-857-0567 | firstname.lastname@example.org 920 South Fry Road, Katy, Texas 77450
Each office independently owned and operated
Wildcat Golf Club Airport Blvd
Guide the future of Fort Worth.
With over 500 members, the Real Estate Council of Greater Fort Worth is THE unified voice for the commercial real estate industry in Tarrant County.
John Iglehart 832-526-5202 Greg Hall 713-953-9606 x18 22
MAY Houston 2019 Greater Commercial Properties
Join us at RECouncilGFW.com!
I-45 Nort h & West Roa d 4000 SF End-C a p with Drive- T h ru
RETAIL LOCATIONS IN
Northvi��e P�a�a - 9919 N Fwy Service Rd, Houston, Texas 77
CYPRESS SHOPS 3648 SF END-CAP WITH DRIVE-THRU & 3506 END-CAP Located at the SWQ of Fry Road and FM 529 - Cypress, Texas 77433
1111 Spencer Danny Kuperman Danny Kuperman
email@example.com firstname.lastname@example.org • Highly visible and
accessible from Spencer Hwy, 11th Street, and • Spencer Hwy is a dominant east-west artery through the market
p: 713-439-0101 p: 713-439-0101
I-45 North & West Rd
Bri Martinez Bri Martinez
email@example.com firstname.lastname@example.org Avenue B • New p: 713-439-0101 p: 713-439-0101
• 4000 SF End-Cap with Drive Thru
• Phase II under construction JOIN:
JOIN: Danny Kuperman
MEDICAL CLINIC email@example.com
DEER PARK MARKETPLACE
SWC of Fry Rd & FM 1960
SEC Center St & Pasadena Blvd
• 3648 SF End-Cap with Drive Thru • 3506 SF End Cap • 270 feet of frontage along North Fry Road • Located two miles to the east of the Grand Pkwy
• Located at a major intersection in Deer Park, Texas, a suburb of Southeast Houston, just down the street from Deer Park High School, home to almost 4,000 students for grades 9-12.
JOIN: MAY 2019
Bri "Martinez" Cheung
DRIVE THRU DRIVE THRU END CAP END CAP AVAILABLE AVAILABLE
END CAP END CAP AVAILABLE AVAILABLE
firstname.lastname@example.org p: 713-439-0101 www.arg-properties.com
FRY ROAD MERCADO PHASE PHASE 2 2
Aldine Westfield & Aldine Mail Route A PAD SITE AVAIL
BLE NEXT TO A
ENTER LDINE TOWN C
Danny Kuperman SEC Danny Kuperman
Fry Rd & Clay Rd
Martinez Bri Bri Martinez
email@example.com firstname.lastname@example.org p: 713-439-0101 p: 713-439-0101
• 1-acre pad site available at Fry Road Mercado Phase II
p: 713-439-0101 p: 713-439-0101
• Up to 8000 SF
arg-properties.com p: 713-439-0101
2520 Spencer Hwy • Positioned in the heart of the Pasadena / South Houston trade area • Excellent visibility and easy access • Spencer Hwy is a dominant east-west artery through the market • Close proximity and easy access to Beltway 8 JOIN:
DAIRY ASHFORD CENTER 865 Dairy Ashford Rd, Houston, Texas 77079
2520 SPENCER PLAZA
1 , 0 0 0 - 3 , 0 8 0 S F A v a i l a b l e a t D a i r y A s hf o r d C e n t e r | P a n e r a B r e a d U n d e r C o n s t r u c t i o n N e x t D o o r
865 Dairy Ashford
email@example.com p: 713-439-0101
• Located on the west side Dairy Ashford between Memorial Drive and Interstate 10 in Houston, Texas. • Across from Stratford High School & the District Stadium • Strong daytime population from the Energy Corridor
JOIN: MAY 2019
What makes Corinthian Contracting a pillar of commercial contruction?
HOUSTON RETAIL EVOLUTION
BY BRANDI SMITH
spaces for the owner in other Houston markets. The Building long-term relationships with developers and tenants.
internet has flipped the script, offering consumers a new way to get what they need. a commercial general contracting company, logged years working with and learning from other CORINTHIAN CONTRACTING is committed to sustaining mutually beneficial “The projects we’re working on now provide the commercial general contractors in Houston before and tenants relationships with developers types get of construction projects says. — thingsfor youallcan’t online,” Chapman “We’re deciding to set off on his own. He never could site development, office have buildings, retail centers, commercial building complexes, doing a massive number of restaurants nowadays, predicted what would mark the startstructures of his path. stand-alone and tenant/special-use Our culture of consultation, as well asbuild-outs. more boutique-type retailers.”
Charles Chapman, owner of Corinthian Contracting,
firm is also working on redeveloping a space along Washington Ave., which will house a new coworking venture and share the historic property with other tenants. Redevelopment of existing properties is something
C ORIChapman N T Hexpects IANto see more of, especially within
collaboration andIke, communication makes us the general contractor of choice for “It was actually the day after Hurricane ” he He predicts that trend will strengthen in Houston remembers. “I jumped in, doing repair on retail C O N THouston’s RAC TInner I NLoop. G developers andwork tenants. over the coming years. buildings because of all the “Property owners are going in and turning old facilities “You’re going to see storm damage.” into retail because of the location. There are still more retail space become traditional retail properties being built beyond Houston IANCONTRACTING.COM In the midst of hurricane C O N T A C T U S A T 2 8 1 - 8 4 6 - 6 2 6 6 O R I N F O @ C O R I N T Hoccupied by service in places like Webster and Clear Lake, where you can buy cleanup and the financial crisis providers and your fastplots of land,” he explains. “But in the Inner Loop, there’s that was unraveling across the casual concepts, tenants a lot more renovation than new construction.” globe, Chapman managed to that are not necessarily Whatever comes Chapman’s way, he’s confident his build his company: Houston’s merchandise-driven,” years of experience, great team and varied projects will Corinthian Contracting, a says Chapman. “Right continue to help Corinthian succeed. firm with experience in site now, we’re working development, office buildings “We’re very focused with working on both sides of it: on anything from a and special-use build-outs, but with the developers and with the tenants,” Chapman 20,000-square-foot with a specialty in retail and says. “We have projects that are underway for a lot of retail building to interior developers around town. We’re also doing the tenant restaurant projects. fit-outs of fast-casual infill side of it, as well.” restaurants concepts.” “We’ve grown by leaps and Corinthian Contracting is a perfect example of how bounds,” he says. “Things are Corinthian was tapped to thrive in an ever-changing retail climate: learn and great.” as the general contractor evolve. on a new, 10,000-squareGreat, to be sure, but also foot, two-concept different. Chapman says the restaurant opening soon focus earlier in his career in the Katy area, after was on big-box retailers building new restaurant and department stores. The
“You’re going to see more retail space become occupied by service providers and your fast-casual concepts, tenants that are not necessarily merchandise-driven.” – Charles Chapman
INSIGHT. KNOWLEDGE. EXPERTISE
Booking appointments now! firstname.lastname@example.org
NNN Leased Investment 1651 Louetta Rd., Spring
• New Construction – 1st Quarter 2019 • 20 Year Remaining Lease Term • Highly Trafficked Signalized Corner, 1/3 mile from I-45
Prime Commercial Development Hwy 249 @ Brown Road, Tomball
• +/- 31 & 18.5 Acres – over 1,100 Ft of Combined Frontage on Hwy 249 • City of Tomball Water & Sewer Available • Major Lighted Intersection & Highway Overpass, with multiple access points
End Cap Retail 25201 Kuykendahl, Tomball
• +/- 55 Acres located in the City of Tomball boundary • Frontage on FM 2920 and FM 2978 (both 4 lanes) • Located on NW corner of lighted intersection
• Located on Heavy Traffic corridor in Woodlands/Spring Submarket • 7,950 SF END CAP Divisible with 2,000 SF Patio Area • 1,535 SF 2nd Gen Retail
2nd Generation Restaurant 6334 FM 2920, Spring
Retail Pad Sites Available I-45 & FM 3083 (Teas Rd.), Conroe
• 3,680 SF 2nd Generation Restaurant • Located ½ mile west of Kuykendahl at the lighted intersection of T.C. Jester and FM 2920 • Anchored by Woodforest National Bank and Texas Children’s Pediatric Assoc.
Retail Pad Site Available SH 105 & HWY 149, Montgomery
• Located at the NE Corner of I-45 and Teas Rd. (FM 3083) • Pad Sites: A-1.32 ac, E-1.0 ac, F-1.21 ac • Conroe named “Fastest Growing US City” by US Census Bureau
New Mixed-Use Development – For Lease Westgate Crossing, The Woodlands
ng Dr W Branch Cro s s i
Prime Retail Development Site 29135 FM 2978, Magnolia
Prime Commercial Development NWC FM 2920 & FM 2978, Tomball
AC ±25 E SIT May V
a lley Dr
• +/- 25 Acres • Major Retail Hub along FM 2978 including Walmart, Chase, Whataburger and more at the intersection with Woodlands Parkway to the north • Approximately 857 Frontage Feet on FM 2978
• Located on the hard corner of two main corridors in Montgomery with traffic counts of over 20,000 cars per day • Outparcel of the Brookshire Brothers grocery-anchored shopping center
• 60,000 SF Retail & Professional Office • Restaurant & Retail Pad Sites Available • Located on Main Corridor Adjacent to Regional Power Center with National Retailers
Landlord & Tenant Representation | Property Sales & Disposition | Buyer & Site Acquisition Commercial Property Management | Development & Consulting Services | Commercial Real Estate Investment 10077 Grogan's Mill Road | Suite 135 | The Woodlands, Texas 77380 jbeardcompany.com | 281-367-2220 MAY 2019
RETAIL TRENDS TO WATCH IN 2019
From store concept advancements to an e-commerce reckoning, the Retail Dive team takes on predictions for the year ahead.
AUTHORS Daphne Howland@daphnehowland Corinne Ruff@corinnesusan Cara Salpini@CaraSalpini
The following highlights some of Retail Dive’s 2019 Retail Trends to watch. To view the entire list, visit: www.retaildive.com/news/ 10-retail-trends-to-watch-in-2019/545314/
SUSTAINABILITY BECOMES A NEW FOCUS
Sustainability has become a crucial part of public dialogue worldwide. In 2018, the United Nations Intergovernmental Panel on Climate Change (IPCC) released a study estimating that there are a mere 12 years left to avoid some of the most disastrous impacts of climate change. Retail is taking note. In 2018, a number of companies expanded sustainability efforts, with outdoor and sporting companies leading the way. In April of last year, REI announced efforts to enforce sustainability standards for its 1,000 vendors. The company also furthered investments to ‘rewild’ five American cities and expanded its gear rental program. The year also saw North Face launch its Renewed line, a collection of damaged and refurbished items to further waste reduction. A sustainability reality check came last year when it was revealed that Burberry burned and destroyed items it didn’t sell. A forceful public backlash led to a shift 28
in internal policies, with the luxury company vowing to increase efforts to reuse, repair, and recycle products. But, more has to be done, and accountability is coming from an unlikely source: the UN, which launched the Fashion Industry Charter for Climate Action. The group’s mission to achieve net-zero emissions by 2050 has gained support from brands including Adidas, Gap, Target and H&M. “We know that climate change is already introducing risks and uncertainty with implications for businesses,” said a spokesperson for UN Climate Change, Global Climate Action in an email interview with Retail Dive. “Fashion is sensitive to consumer demands [that] are increasingly not only becoming environmentally conscious but also environmentally responsible.” Although apparel represents only one sector of the retail market, the UN initiative illustrates how crucial collaboration is if the larger industry is to create meaningful change. “UN Climate Change has convened fashion stakeholders into a dialogue to enhance collaboration and catalyze efforts to collectively identify and address barriers to climate action,” said the spokesperson. Continued on Page 30 >
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RETAIL TRENDS TO WATCH IN 2019
From store concept advancements to an e-commerce reckoning, the Retail Dive team takes on predictions for the year ahead. <Continued from Page 28
RETAIL AS A SERVICE TO EXPAND THIS YEAR
expensive leases as they benefit from physical store space, and consumers reap the rewards of a more robust in-store venture. More retailers are also embracing the retail as a service concept, which Stephens defines as “hosting brands in a space that is curating that space in a very particular way, employing great design, creating great online content, providing staffing, merchandising and providing great analytics.”
RETAILERS GLEAN LESSONS FROM DTC SUCCESS STORIES
Retailers are exploring options to create a more personalized experience for consumers, and for good reason. Accenture and the Retail Industry Leaders Association released data earlier this year that indicated more consumers than ever want retailers to personalize their shopping experiences. Sixty-three percent of consumers surveyed indicated that they were interested in personalized recommendations, while 64% revealed they were willing to share personal data in exchange for benefits like loyalty points and automatic credits for coupons. It’s beginning to dawn on retailers that personalization is more than just emails targeted to customers Some companies are now employing technologies to streamline purchasing channels. Walmart recently equipped employees with an in-store app to allow customers to order and pay for items from the retailer’s website while in the physical store. “If Walmart is really investing in anything, it’s investing in converting its customers to online customers because I think it recognizes that it’s just ultimately going to be a more efficient model for them,” Retail Prophet CEO and Founder Doug Stephens told Retail Dive last month. “They’re trying to convert consumers at the shelf … Clearly there’s this recognition that this is the model that they want to move to.” 2018 also saw efforts to expand the customer shopping experience by introducing marketplaces within physical spaces, including The Market @ Macy’s, as a means to bring different, curated brands under the larger umbrella of an established retail enterprise. The partnership works for all parties involved: retailers and malls gain merchandise diversity, the smaller companies can avoid 30
The rise of e-commerce has ushered in several waves of digitally native, direct-to-consumer (DTC) businesses. Building off the early success of once pure-players like Bonobos in men’s apparel and Warby Parker in eyewear, DTC brands have now sprouted up as disruptors in nearly every category, including Casper in mattresses, Away in luggage, Glossier in beauty and Allbirds in footwear. E-commerce and increased venture capital investments have allowed more of these kinds of businesses than ever to get off the ground. And social media has helped these digitally native brands quickly build a loyal following. But as they’ve scaled, brick-and-mortar stores have become a necessity for growth. Brands within the category are slated to open nearly 850 physical stores over the next five years, according to a report on over
Amazon continues to grow its market share, stores are still a major competitive advantage. Target, for one, has credited stores with fueling its digital growth and many big-box and department store retailers are pursuing plans that aim to smooth out the link between online and offline. Learning from DTC brands is just one way to do that.
THE RETAIL LANDSCAPE WILL BE REARRANGED While 2017’s “retail apocalypse” pretty much fizzled in 2018, plenty of stores did close last year. Downsizing from the likes of J.C. Penney, plus the bankruptcies of Toys R Us and Sears, left thousands of locations empty. The brick-and-mortar shrink, however, may have “bottomed out,” according to a note from Wells Fargo analysts Jeffrey Donnelly and Tamara Fique emailed to Retail Dive. “[S]tore closure activity feels like it has peaked,” they wrote. “[P]hysical retailers are fighting back by reinvesting in their stores and some are curtailing store closures ... retail landlords have arguably done more than any other property segment to prune the dead wood – properties and tenants – from their portfolios” and investing in “higher growth retail and mixed-use projects.” “Mixed use” tends to mean “less retail,” but, while many big box stores are joining mall anchors in a disappearing act, dollar stores and off-pricers are expanding, belying the notion that Amazon in particular or e-commerce in general inevitably decimates physical retail.
Those locations, like many renovated and new stores from legacy retailers like Target, are usually smaller and more urban than those that Courtesy: www.clippingpathoffice.com have dominated the American retail landscape for decades. So in 2019, the mall remains under 100 top online retailers from commercial real estate firm siege, as the model faced a 9% fourth-quarter vacancy JLL. Cities like New York, San Francisco and Los Angeles rate, a slight improvement from the third quarter’s are the most popular places for brands to experiment seven-year high but quite above 2017’s 8.3%, according with pop-up shops and inaugural permanent stores. New to real estate research firm Reis. Only the best will likely York’s SoHo neighborhood is a particular hotspot for survive. experiential flagship locations. “All retailers need to avoid B and C malls, which have Through partnerships and acquisitions, traditional nowhere to go but down,” retail analyst Nick Egelanian, retailers like Walmart, Target, Ikea, Serta Simmons president of retail development consultants SiteWorks, and many others are recognizing the promise of the told Retail Dive in an email. “But that said, sales at digitally native, DTC model. These types of legacy A malls are actually increasing in productivity, as are giants are eyeing a future where they can use more [Main] Streets, high quality open air centers and most digital elements to lure shoppers into stores. And as outlet centers.” Continued on Page 32 >
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RETAIL TRENDS TO WATCH IN 2019
From store concept advancements to an e-commerce reckoning, the Retail Dive team takes on predictions for the year ahead. <Continued from Page 28
SHOPPING VIA TECH GETS MORE SOPHISTICATED 2018 was a year of tech and retail experimentation. Amazon Go launched and quickly expanded, 45% of purchases were completed via smartphone and companies like 7-Eleven began accepting different payment systems.
Courtesy: © Phillip Pessar/Flickr CC
BANKRUPTCIES EXPECTED TO SLOW 2018 saw several retailers declare bankruptcy. However, many analysts predict the number of bankruptcies may ease up in the year ahead. “They will slow if for no other reason than a lot of the most troubled retailers have already filed bankruptcy like Toys R Us, Bon-Ton, and of course Sears,” Philip Emma, a senior retail analyst with Debtwire, told Retail Dive in an email. “That said, there are a lot of variables that are new to the equation that will continue to challenge those retailers who were already facing challenges.” The Fed recently raised interest rates in December and is expected to do so again in 2019, Emma added. “But more problematic than the macro economic factors is the continued market share gains from e-commerce sites not connected to a brick and mortar retailer.” While there are 31 retailers on the Debtwire Retail Watchlist for December 2018, Emma said there isn’t a name that will without a doubt file bankruptcy this year. “Pier 1 for example, has been reporting terrible results. But, it still has a significant financial cushion. Unlike the start of 2018, there are no obvious names like Sears and Bon-Ton where you can unequivocally say when, not if, they will file.” 32
While shopping through a smart speaker, working with a chatbot or walking out of a cashierless store may still be perceived as a novelty, retailers are getting the message that convenience is paramount when it comes to obtaining goods. Implementing the mechanics that make these actions as frictionless as possible will help determine which tech stays around for the long haul, or what will be dropped when consumer experience isn’t kept front-ofmind. There is a symbiotic relationship between companies and consumers when it comes to tech advancement, with retailers testing and adopting methodologies when customers respond positively. That partnership is bound to grow as companies push further into understanding that in-store and online spaces are merging, with the lines increasingly blurred as to where a sale can occur. Ashwin Ramasamy, co-founder and chief marketing officer at PipeCandy, an e-commerce market intelligence company, projects that in-car shopping is the next natural step for advancements in 2019. “An embedded smart speaker in a car is a great way to introduce shopping through smart speakers. It could be for scheduling grocery or meal kit pickups. I’d think that embedded smart speakers in cars will
unlock in-commute shopping faster than home speakers have been able to,” he said in comments emailed to Retail Dive.
THE COST OF E-COMMERCE WILL FORCE A RECKONING For years, surging growth among digital pure-players (above all Amazon) left many legacy retailers unsure of how to proceed, but e-commerce has mostly morphed into just another way to sell to customers. Exhibit A is Walmart, which stoked its digital sales some 39.4% in 2018 — a stark turnabout for a brickand-mortar stalwart that still dots the American landscape with thousands of stores. But for any retailer selling online, some e-chickens may come home to roost as the new year progresses. Retailers have yet to grapple with the dispiriting reality that returns are natural but, for retailers, an expensive aspect of online consumerism. In fact, analyst Natalie Berg, founder at NBK Retail, told Retail Dive that the problem is a “ticking time bomb” for retailers this year. It’s not just returns, however. Most online shoppers expect, or at least give their highest loyalty to, retailers that offer free shipping and free returns. Amazon could arguably be blamed for helping set that expectation.
But, while it’s not immune to the problem, the e-commerce giant is managing its massive shipping costs by establishing its own network and shifting fulfillment costs onto its marketplace — two moves most retailers can’t make. Already last year some analysts downgraded their profit expectations of retailers in light of the digital strain on margins, and those concerns look to be continuing, with end-of-year retail stocks remaining below even the shaky wider market. When it comes to e-commerce, 2019 is poised to be a time of reckoning.
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The development features South Texas andmall beyond the city Miserables are just some ofPeter the Texas simply the place to be for 5,000 single-family homes, 200+ welcomes annually. shows that have been featured at there educational opportunities and a Tres Lagos subdivision, developed as South Texas, the is a draw for Tony Bennet, Julio Iglesias, business business a success. fields, playgrounds, fields, playgrounds, picnic areas, picnic areas, the welcomes McAllen the McAllen landscape. landscape. Shoppers Shoppers everyshows artist every who artist has who performed has performed there quality of lifea success. that is unmatched in a TIRZ in partnership with Hidalgo the 18 million visitors from Mexico, Cetera, the Moscow Ballet, and Les Texas simply the place to be for 5,000 single-family homes, 200+ annually. that have been featured Texas simply the place to betheir for 5,000 homes, 200+ welcomes annually. shows that have been featured at at anyone wishing to unmatched ofsingle-family public parks, pools, sports Retail and entertainment dominate the facility that continues to astound quality life that is in their aacres TIRZ in partnership with pools, Hidalgo 18 million visitors Mexico, Cetera, the Moscow Ballet, and Les “McAllen is wishing a powerhouse amake powerhouse city, city, and over and 20 over miles of miles hike and of hike bike andthe bike may enjoy may one enjoy of McAllen’s onefrom of McAllen’s newest in terms in ofterms its beauty of and beauty scope. and scope. fewof“McAllen communities make McAllen, County. The 20 development features South Texas and beyond the newest city Miserables areits just some of the anyone to make acres of public parks, sports Retail and entertainment dominate the facility that continues to astound anyone wishing to make their acres ofplaygrounds, public parks, picnic pools, sports Retail and entertainment dominate the facility that continues to astound business abysuccess. fields, areas, the McAllen landscape. every artist who has there few communities make McAllen, County. Thesingle-family development features South Texas and beyond the city just some of the fueled fueled international bythe international trade, trade, trails. trails. Commercial Commercial development development power power centers, centers, Shops Shoppers Shops at Shoppers 29, atMiserables 29,every “McAllen “McAllen isartist aare place iswhere aperformed place developers where developers Texas simply place to be for 5,000 homes, 200+ welcomes annually. shows that have been featured at business a success. fields, playgrounds, picnic areas, the McAllen landscape. who has performed there business a success. fields, playgrounds, picnic areas, the McAllen landscape. Shoppers every artist who hasbeen performed there “McAllen is a powerhouse city, and 20 miles ofthe hikedistinctive and bike may enjoy oneDave of McAllen’s in terms ofpartner its beauty and scope. Texas simply the place to be for their 5,000 single-family homes, 200+ welcomes annually. shows that have at medical medical tourism, tourism, retail and retail growth and growth alsoover compliments also compliments the distinctive anchored anchored by by & Dave Busters, &newest Busters, Ulta, Ulta, can truly can truly partner with afeatured community withto a astound community anyone wishing to make acres of public parks, pools, sports Retail and one entertainment dominate theterms facility that continues “McAllen is a powerhouse city, and over 20 miles of hike and bike may enjoy of McAllen’s newest in of its beauty and scope. “McAllen is a powerhouse city, and over 20 miles of hike and bike may enjoy one of McAllen’s newest in terms of that its beauty and developers scope. fueled international trade, trails. Commercial development power centers, ShopsCrossing, at 29, “McAllen a place where anyone wishing to their acres ofwith public parks, sports Retail and entertainment dominate the facility to astound in the field inby theby field higher ofmake education,” higher education,” project project an impressive with anpools, impressive 1.5 million 1.5 million and power Burlington. and Burlington. Palms Palms Crossing, a“McAllen to create toissomething create something special we special canthere we can business aofsuccess. fields, playgrounds, picnic areas, the McAllen landscape. Shoppers every artist has performed fueled international trails. Commercial development centers, Shops at a 29, iscontinues awho place where developers fueled by international trade,trade, trails. Commercial development power centers, Shops at Ulta, 29, “McAllen is awho place where developers medical tourism, retail and growth also compliments the distinctive anchored by Dave & Busters, can truly partner with a community business a success. fields, playgrounds, picnic areas, the McAllen landscape. Shoppers every artist has performed there said medical Rebecca said tourism, Rebecca Olaguibel, Olaguibel, the City the Cityalso square feet of20feet retail ofspace retail space slated development Washington Washington Prime Prime all becan all be of,” proud concluded of,”with concluded Olaguibel. Olaguibel. “McAllen is a powerhouse city, andsquare over miles of hikeslated and bike maydevelopment enjoyby one of by McAllen’s newest inproud terms of its beauty and scope. retail and growth compliments the distinctive anchored by Dave & Busters, Ulta, truly partner a community medical tourism, retail and growth also compliments the distinctive anchored by & Busters, Ulta,a can trulyofpartner withspecial a community in field of project with impressive 1.5 million and Burlington. Palms Crossing, to create something we can “McAllen a higher powerhouse city, and over 20an miles hike and bike may enjoy oneDave McAllen’s newest in its beauty and scope. of the McAllen’s of is McAllen’s Director Director ofeducation,” Retail of and Retail and for the master for the planned master planned community. community. Group, Group, now inofnow its third in itsphase third phase ofto With acreate With booming aa place booming economy economy and fueled by international trade, trails. Commercial development power centers, Shops atof 29, “McAllen is where developers in the field of higher education,” project with an of impressive 1.5 million and Burlington. Palms Crossing, a terms something special we canand in the field of higher education,” project with an impressive 1.5 million and Burlington. Palms Crossing, a to create something special we can said Rebecca Olaguibel, the City square feet of retail space slated development by Washington Prime all be proud of,” concluded Olaguibel. fueled by international trade, trails. Commercial development power centers, Shops at 29, “McAllen is a place where developers Business Business Development. Development. “As aand matter “As aCity matter Rounding out the out amenities the amenities and anddevelopment development, development, conveniently conveniently located located business business development development at aan allat an allmedical tourism, retail growth alsoRounding compliments the distinctive anchored by Dave & Busters, Ulta, canbe truly partner with community said Rebecca Olaguibel, the square feet of retail space slated by Washington Prime all proud of,” concluded Olaguibel. said Rebecca Olaguibel, the City square feet of planned retailthe space slated development by its Washington Prime all be proud of,” concluded Olaguibel. of McAllen’s Director ofand Retail and for thecompliments master community. Group, now in third phase of McAllen With a time booming economy andto invest medical tourism, retail also distinctive anchored by now Dave Busters, Ulta, can partner with a community of fact, of fact, McAllen generates generates more than more than convenience convenience of thisof exciting this exciting stepsGroup, steps from away the from McAllen the time high, anyone seeking anyone seeking to invest in McAllen the field of higher education,” project an impressive 1.5 million andaway Burlington. Palms Crossing, a truly to create something special we and can of McAllen’s Director ofgrowth Retail and for the with master planned community. in&third its third phase of With a high, booming economy of McAllen’s Director of Retail and for the master planned community. Group, now in its phase of With a booming economy and Business Development. “As a matter Rounding out the amenities and development, conveniently located business development at an allin$3 the field of higher education,” project with an 1.5 million and Palms Crossing, aPrime to special we can billion $3in billion gross inretail gross sales retail every sales every development development isimpressive the is the Texas new A&M Texas A&MBurlington. Convention Convention Center, Center, offers fabulous offers fabulous in create a business solid insomething amarket, solid the growth the growth and and said Rebecca Olaguibel, the City square feet of new retail space slated development by Washington all be proud of,”market, concluded Olaguibel. Business Development. “As a matter Rounding out the amenities and development, conveniently located development at an Business Development. “Asmore a matter Rounding out the amenities and development, conveniently located business development atOlaguibel. aninvest all- allof fact, McAllen generates than convenience this exciting steps away from the and McAllen time high, anyone seeking toin said Rebecca Olaguibel, the City than square of of retail space slated development by Washington Prime all betime proud of,” concluded year.” year.” Higher Higher Education Education Center Center McAllen McAllen shopping, shopping, dining and dining entertainment entertainment opportunities opportunities in found McAllen McAllen make make McAllen’s Director of Retail and for feet the master planned community. Group, now in its third phase of With a found booming economy and of fact, McAllen generates more convenience of this exciting steps away from the McAllen high, anyone seeking to invest of fact, McAllen generates moreevery than convenience of thiscommunity. exciting steps away the phase McAllen anyone seeking to invest $3 billion in gross retail development the new Texas A&M Convention offers fabulous in a high, solid market, the and of McAllen’s Director ofsales Retail and for the master planned Group, now infrom its third of time With aaitthe booming economy One reason One reason the Citythe of City McAllen McAllen campus. campus. TresisLagos Tres isLagos one ofTexas ismany one A&M ofand many within within its Center, 580,000 580,000 square square foot itfoot simply simply place the to place be.growth be. Business Development. “As aofmatter Rounding out the amenities development, conveniently located business development at and an and all$3 billion in gross sales development isnew new Convention Center, offers fabulous solid market, thetogrowth $3 billion in gross retailretail sales everyevery development is the Texas A&M Convention Center, offers fabulous in a in solid market, the growth and year.” Higher Education Center McAllen shopping, dining and entertainment opportunities found in McAllen make Business Development. “As a matter Rounding out the amenities and development, conveniently located business development at an all-invest continues continues to set the togenerates set standard the standard andthan andHigher developments, developments, projects and business and business campus. campus. Along McAllen’s Along McAllen’s famous famousopportunities of fact, McAllen more convenience of projects this exciting steps away from the McAllen time high, anyone seeking to year.” Education Center McAllen shopping, dining and entertainment found in McAllen make year.” Higher Center and entertainment foundto inbe. McAllen make One reason the City ofmore McAllen campus.Education Tres Lagos is one McAllen of many shopping, within away itsdining 580,000 square foot opportunities it simply the place of fact, than convenience of isLagos this exciting steps the McAllen time high, anyone seeking togrowth invest $3McAllen billion ingenerates gross sales every development the new Texas A&M Convention Center, offers fabulous in a solid and One reason the retail City of McAllen campus. Tres is of one of many within itsfrom 580,000 square foot it simply themarket, place tothe be. One reason the City of McAllen campus. Tres Lagos is one many within its 580,000 square foot it simply the place to be. continues to set the standard and developments, projects and business campus. Along McAllen’s famous $3 billion retail sales every and development is the new Texas A&M Convention Center, offers fabulous in a opportunities solid market,found the growth andmake year.”in gross Higher Education Center McAllen shopping, dining and entertainment in McAllen continues to set the standard developments, projects and business campus. Along McAllen’s famous continues to set the standard and developments, projects and business campus. Along McAllen’s famous opportunities found in McAllen make year.”One reason Higher Education Center shopping, entertainment the City of McAllen campus. Tres Lagos isMcAllen one of many withindining its and 580,000 square foot it simply the place to be. One continues reason the of standard McAllen and campus. Tres Lagosprojects is one of many within its 580,000 square foot simply place toand be. Region Highest Highest Retail Sales Retail Tax Sales Revenue Tax Revenue init the MSA inthe the and MSA Region to City set the developments, and business campus. Along McAllen’s famous continues to set the standard and developments, projects and business campus. Along famous - State of - State TexasMcAllen’s of Comptroller’s Texas Comptroller’s Office Office
Highest Retail Sales Tax Revenue in the MSA and Region Highest Retail Sales Tax Revenue inMSA the MSA and Region Highest Retail Sales Tax Revenue in the and Region - State Ranked of Comptroller’s Office Ranked #1Texas Boomtown #1 Boomtown cities ofcities risingofsalaries rising salaries - State of Texas Comptroller’s - State of Texas Comptroller’s OfficeOffice Highest Retail Sales Tax Revenue in the MSA and Region - CNBC, -2018 CNBC, 2018 Ranked #1 Boomtown of rising salaries Highest Retail Sales Taxcities Revenue in rising the MSA and Region - State of Comptroller’s Office Ranked #1Texas Boomtown cities of salaries Ranked #1 Boomtown cities of rising salaries CNBC, 2018 State of Texas Comptroller’s Office Ranked Ranked Top 10 Top City10 in the CityU.S. in the with U.S. the with biggest the biggest influx of influx people, of people, CNBC, 2018 - CNBC, 2018 most work most opportunities, work opportunities, and hottest and hottest business business growthgrowth Ranked #1 Boomtown cities of rising salaries Ranked Top 10 City in the U.S. with biggest influx of people, Ranked #1 Boomtown cities ofU.S. risingthe salaries - Att.net, - Att.net, 2018 2018 Ranked Top 10 City inU.S. the the biggest influx of people, - CNBC, 2018 Ranked Topopportunities, 10 City in the withwith thebusiness biggest influx of people, most work and hottest growth - CNBC, 2018 most work opportunities, and hottest business growth most work opportunities, and businessstatistical growth - Att.net, 2018 McAllen McAllen MSA now MSA now largest fifthhottest largest metropolitan statistical area in area in Ranked Top 10 fifth City in the U.S. withmetropolitan the biggest influx of people, - Att.net, 2018 Att.net, 2018 Ranked Top 10 City in the U.S. with the biggest influx of people, Texas, surpassing Texas, surpassing El PasoEl Paso most work opportunities, and hottest business growth McAllen MSA now fifth largest metropolitan statistical area in most work opportunities, and hottest business growth McAllen MSA fifth largest metropolitan statistical - Att.net, 2018now - U.S. Census - U.S. Bureau, Census Bureau, 2016 2016 McAllen MSA now fifth largest metropolitan statistical area area in in Texas, surpassing El Paso - Att.net, 2018 Texas, surpassing El Paso Texas, surpassing Elnow Paso - U.S. Census MSA Bureau, 2016 McAllen fifth statistical McAllen McAllen MSA ranked MSA ranked first inlargest job firstcreation inmetropolitan job creation at a state at a state area in -Census U.S. Census Bureau, 2016 - U.S. Bureau, 2016 McAllen MSA now fifth largest metropolitan statistical area in Texas, surpassing El Paso level according level according McAllen MSA ranked first2016 in job creation at a state Texas, El Paso -surpassing U.S. Census Bureau, McAllen MSA ranked job creation at a state -Real Estate -Real Center, Estate 2017 Center, McAllen MSA ranked first first in2017 jobincreation at a state level according - U.S. Census Bureau, 2016 level according level according -Real Estate Center, 2017 first in job creation at a state McAllen MSACenter, ranked -Real Estate 2017 -Real Estate Center, 2017 McAllen MSA ranked first in job creation at a state level according level according -Real Estate Center, 2017 w w ww . mwcw a .l m l ecnaml leeannms e b-Real au ns iEstate snbeussCenter, si .nceos2017 m s.com
w w ww .m a l cl ea nl lm e a nesabnussbiunseisnse. cs so.m wcc. am en com w ww w.m llenm em ansbusiness.com www.mcallenmeansbusiness.com www.mcallenmeansbusiness.com
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Full range of nationwide professional environmental services including: Phase I and Phase II ESAs • USTs • Asbestos • Mold • Lead • NEPA Reports Vapor Assessments • Wetlands • Property Condition Assessments
SCOOP The following pages contain a calendar of Texas CRE events, networking photos, and deals/announcements. For more updates, log on to REDNews.com
TEXAS Opportunity Zone Summit March 28, 2019
CENTRAL SOUTH TEXAS
REC Austin - Policy Briefing *Members Only [12:00pm - 1:00pm]
CCIM Central Texas - CI 101 Course [8:30am - 4:30pm] ULI San Antonio - Luncheon: The Value of Improving Education in an Urban Setting [11:00am - 1:00pm]
CTCAR - Property Tour Hotel Eleven [11:00am - 1:00pm] BOMA Austin - BOMI Course: Energy Management & Controls [6:00pm - 9:00pm]
CREW Austin - The Saint Louise House 2019 Mother & Me Tea [12:30pm - 3:30pm]
REDNews Newsletter [4:00pm]
IREM Austin - Board Meeting *Invitation Only [11:30am - 1:00pm]
IREM Austin - Luncheon [11:30am - 1:00pm]
15 Wednesday 16 Thursday
TABB Austin - Luncheon [11:30am - 1:00pm]
IREM Austin - Capstone Track [8:00am - 5:00pm]
ULI San Antonio - 2019 Texas Forum in Austin [8:00am - 5:00pm]
CTCAR - Property Information Exchange: Tips for Evaluating Properties Unseen [7:30am - 9:00am] ULI San Antonio - 2019 Texas Forum in Austin [8:00am - 5:00pm]
CREW Austin - Luncheon: Army Command Center [11:30am - 1:00pm] CREW Austin - Dress for Success Donations [11:30am - 1:00pm]
ULI Austin - 2019 Texas Forum in Austin [8:00am - 5:00pm] REC San Antonio - Clay Shoot [10:00am - 3:00pm]
REDNews Newsletter [4:00pm] REDNews June Issue Deadline [5:00pm]
ULI Austin - Breakfast: Battle of the Plans [7:30am - 9:00am] CTCAR - Commercial TREC Legal Update I & II [8:30am - 5:30pm] TABB San Antonio - Luncheon [11:30am - 1:00pm]
IREM San Antonio - Luncheon [11:30am - 1:00pm] ULI San Antonio - 2019 Texas Forum in Austin [8:00am - 5:00pm]
REC Austin - Regional Update in Georgetown *Members Only [12:00pm - 1:00pm] REDNews Newsletter [4:00pm]
ULI Austin - 2019 Texas Forum in Austin [8:00am - 5:00pm]
CCIM Central Texas - Portfolio Workshop [11:30am - 12:30pm] CCIM Central Texas - Networking Social & Happy Hour [5:00pm - 7:00pm]
ULI Austin - 2019 Texas Forum in Austin [8:00am - 5:00pm]
ULI San Antonio -Coffe Talk/Tour: City Education Partners with Joel Harris & Donald Manekin [8:00am - 9:00am]
CBA Austin - Summer Panel [4:00pm - 7:00pm]
IREM San Antonio - Board Meeting *Invitation Only [11:00am - 12:30pm]
REDNews Newsletter [4:00pm]
CTCAR - Luncheon [11:30am - 1:00pm]
CREW Austin - Members Only Dine Around [6:00pm - 8:00pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
BOMA AUSTIN: bomaaustin.org/ BOMA SAN ANTONIO: bomasanantonio.org CBA: cbaaustin.org/ CCIM CENTRAL TEXAS: ccimtexas.com CREW AUSTIN: crewaustin.org
CREW SAN ANTONIO: crew-sanantonio.org CTCAR: ctcaronline.com IREM AUSTIN: iremaustin.org IREM SAN ANTONIO: iremsanantonio.org
RECA reca.org RECSA: recsanantonio.com/ RETAIL LIVE: retaillive.com STCAR: www.stcar.org TABB AUSTIN: tabb.org/austin_chapter.php
whatâ€™s going on
TABB SAN ANTONIO: tabb.org/san_ antonio_chapter.php ULI AUSTIN: austin.uli.org ULI SAN ANTONIO: sanantonio.uli.org
ULI Austin Urban Plan
ppy Hour REC of Austin Ha
CCIM San Antonio
TREC Dallas - New Member Coffee [8:30am - 9:30am] CREW Fort Worth - Golf Tournament [10:30am - 6:30pm]
IREM Dallas - Accommodating Transgender in Commercial Real Estate [11:30am - 1:30pm]
ULI North Texas - Spring YL Networking Coffee | Tarrant County [8:00am - 9:00am]
REC of Greater Fort Worth - Annual REC Golf Tournament Honoring Scott Walker [12:00pm - 7:00pm] REDNews Newsletter [4:00pm]
BOMA Fort Worth - Luncheon [11:00am - 1:00pm]
CORENET North Texas - New Member Breakfast [7:30am - 9:00am]
BOMA Fort Worth - Volunteer Day [4:00pm - 8:00pm]
ULI North Texas - 2019 Texas Forum in Austin [8:00am - 5:00pm] BOMA Fort Worth - Tradeshow [3:00pm - 7:00pm]
ULI North Texas - 2019 Texas Forum in Austin [8:00am - 5:00pm] BOMA Fort Worth - Education Committee Meeting *Invitation Only [10:00am - 11:00am]
TREC Dallas - Market Matters: Retail Reawakened [7:00am - 9:00am] IREM Dallas - Luncheon [11:30am - 1:00pm]
ULI North Texas - Annual What’s New, What’s Next Local Product Council Event [7:30am - 11:00am] BOMA Fort Worth - CSC Meeting *Invitation Only [11:30am - 12:30pm] CREW Dallas - Industry Luncheon [11:30am - 1:00pm]
Ladies in CRE - New Member Breakfast [8:00am - 9:00am] TREC Dallas - Young Guns New Member Coffee [8:00am - 9:00am] IREM Fort Worth - Exclusive Tour of BNSF & Lunch in Vintage Box Car [11:30am - 1:00pm]
BOMA Fort Worth - SAC Meeting *Invitation Only [3:00pm - 4:00pm]
ULI North Texas - 2019 Texas Forum in Austin [8:00am - 5:00pm]
REDNews Newsletter [4:00pm] REDNews June Issue Deadline [5:00pm]
NTCAR - Retail Event: Urban Core Revitalization [4:00pm - 6:00pm] ULI North Texas - NEXT Dallas Holocaust & Human Rights Museum Tour [4:00pm - 6:00pm]
BOMA Dallas - Golf Classic [9:00am - 3:00pm]
REDNews Newsletter [4:00pm]
BOMA Dallas - Luncheon [11:00am - 1:00pm] TREC Dallas - Young Guns About Town [4:00pm - 6:30pm]
TABB Dallas - Luncheon [11:30am - 1:00pm]
REDNews Newsletter [4:00pm]
BOMA Fort Worth - Board Meeting *Invitation Only [12:00pm - 1:30pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
BOMA DALLAS: bomadallas.org BOMA FORT WORTH: bomafortworth.org CCIM NORTH TEXAS: ccimconnect.com/ ccimnorthtexas CORENET NORTH TEXAS: northtexas.
corenetglobal.org CREW DALLAS: crew-dallas.org CREW FORT WORTH: crewfw.org GFWAR: gfwar.org IREM DALLAS: irem-dallas.org
whatâ€™s going on
IREM FORT WORTH: fortworthirem.org LADIES IN CRE: ladiesincre.com NAIOP: northtexasnaiop.com NTCAR: ntcar.org SCR: scr-fw.org
University of North Texas team on winn ing
TABB DALLAS/FORT WORTH: tabb.org/dallas_ ft_worth_chapter.php TREC DALLAS: recouncil.com REC GFW: recouncilgfw.com ULI NORTH TEXAS: northtexas.uli.org
the first annual IREM Dallas College Case
Ladies in CRE
BOMA Dallas Jellybean Fundraiser
CCIM North Texas
BOMA Dallas SWR TOBY Win
Tarantino - Cinco de Mayo Celebration [11:00am - 1:00pm] CREW Houston - Nominating Committee Reception [11:00am - 11:40pm] CREW Houston - Luncheon - Readiness & Resiliency: A Progress Report [11:30am - 1:30pm]
CORENET Houston - Breakfast Meeting [7:30am - 9:00am]
BACREN - Luncheon [10:30am - 1:00pm]
IREM Houston - Best. Budget. Ever! [8:00am - 11:30am]
CREN Gulf Coast- Luncheon [11:00am - 1:00pm]
REDNews Newsletter [4:00pm]
CREN Gulf Coast - Clay Shoot [8:00am - 1:30pm]
ULI Houston - Leadership Luncheon: Parking Restructured [11:30am - 1:30pm] BOMA Houston - Building Expo [2:00pm - 6:00pm]
ACRP - Happy Hour - Cinco de Mayo [5:00pm - 7:00pm]
CREAM The Woodlands - May Social [5:00pm - 7:00pm]
ACRP - Cystic Fibrosis Zoo Walk [8:00am - 11:00am]
REDNews Newsletter [4:00pm]
FBSCR - Monthly Meeting [8:00am - 9:00am]
BOMA Houston - Board of Directors Meeting [11:30am 1:00pm]
IREM Houston - Public Policy Committee *Members Only [11:30am - 1:30pm]
ULI Houston - 2019 Texas Forum in Austin [8:00am - 5:00pm] IREM Houston - Signature Bruncheon [10:30am - 12:00pm] CREAM The Woodlands - Luncheon [11:30am - 1:00pm] CREW Houston - Distinguished Leaders Dinner [5:00pm 8:00pm]
ULI Houston - 2019 Texas Forum in Austin [8:00am - 5:00pm]
ULI Houston - 2019 Texas Forum in Austin [8:00am - 5:00pm]
REDNews Newsletter [4:00pm]
CCIM Houston/Gulf Coast - Luncheon [11:30am - 1:00pm]
CREN Gulf Coast - Happy Hour [4:00pm - 7:00pm]
REDNews Newsletter [4:00pm]
TABB Houston - Chapter Meeting [11:30am - 1:00pm]
REDNews June Issue Deadline [5:00pm]
The events listed are confirmed at the time of printing. Please make sure to check with the event host for any changes. For the full listing of events, visit REDNews.com.
ACRP: acrp.org BACREN: bacren.us BOMA HOUSTON: houstonboma.org CCIM HOUSTON: ccimhouston.org CETA: cetalliance.com
CORENET HOUSTON: houston.corenetglobal.org C.R.E.A.M.: creamtx.com CREN: crengulfcoast.com CREW HOUSTON: crewhouston.org FBSCR: fbscr.com
GREATER HOUSTON PARTNERSHIP: houston.org HAA HOUSTON: haaonline.org HRBC: houstonrealty.org HREC: houstonrealestatecouncil.org IREM HOUSTON: iremhouston.org
whatâ€™s going on
BACREN South Land Title
ty of Co Fort Bend Socie
NAIOP: naiophouston.org O'CONNOR & ASSOCIATES: poconnor.com SIOR: sior.com TABB HOUSTON: tabb.org/houston_chapter.php ULI HOUSTON: houston.uli.org
of Fort Bend Society ors Commercial Realt
CREN Gulf Coast Lunc
heon IREM Houston
Society of Fort Bend l Realtors Commercia
CENTRAL SOUTH TEXAS JOHN MORRAN & JIM LEMOS, principals at Texas Realty Capital, along with their firms’ employees, are now affiliated with NorthMarq Capital LLC, who purchased the company.
PROVIDENT REALTY ADVISORS BUYS OFFICE BUILDING Provident Realty Advisors purchased the 78,000 sf office building located at 400 E. Anderson Lane from Citizens Insurance Company. The property will be part of Provident’s National Opportunity Zone Program and will undergo extensive renovations. TRAVESIA CORPORATE PARK SOLD TO JEFFERSON RIVER CAPITAL New York-based Jefferson River Capital LLC purchased the three-building, 176,621 sf Travesia Corporate Park located at 3800 Quick Hill Road for $40.9 million. The seller was Bostonbased Taurus Investment Holdings LLC who purchased the property in 2014 for $26.9 million. Todd Mills, Hunter Mills & Carrie Caesar with Cushman & Wakefield represented the seller.
REAGAN SMITH has joined CBRE’s Austin office as a senior vice president focusing on land investment sales.
OFFICES AT STONELAKE SOLD World Class Property Company purchased the five-building, 1213,761 sf Offices at Stonelake located along Braker Lane between Stonelake Blvd & MoPac. The properties are part of the Quarry Business Park. GENSLER LEASES 24,314 SF ON SOUTH CONGRESS Gensler has leased 24,314 sf at Music Lane located at South Congress Avenue & Academy Drive. MIXED-USE PROJECT PLANNED FOR TACO CABANA LOCATION New York-based C12 Capital Management US LP is projected to build an eight-story, mixed-use project at the corner of South Lamar Boulevard & West Riverside Drive. The property was formerly occupied by a Taco Cabana. The site plan calls for a 107room hotel, 25 luxury condos, 1008 sf of office space & 7,877 sf of restaurant space.
HALLOWEEN THEME PARK PLANNED Austin residents Corey Trahan & Wes Nessman are planning to develop a seasonal park called Bat City Scaregrounds on 15 acres on South Turnersville Road. The development should take about two years.
ENF TECHNOLOGY BUILDING US HEADQUARTERS South Korea-based ENF Technology Company Ltd is building their $45 million US headquarters in the Plum Creek master-planned community. The facility will include 200,000 sf office & manufacturing buildings on 25 acres with room for expansion. Construction is expected to begin mid-2019.
LIVE OAK, TX
park and space will be offered for sale or lease. CBRE is marketing the property.
ROSENDIN ELECTRIC RELOCATES Rosendin Electric is relocating their regional facilities in Texas & California to a 50,000 sf facility in the Springbrook Corporate Center at 1033 New Meister Lane.
SAN ANTONIO, TX
GREAT CALL OPENS 50,000 SF CENTER GreatCall Inc, a health & personal emergency response service which is wholly owned by Best Buy, is opening a 50,000 sf center at 9810 Hwy 151. The facility will provide customer service, emergency response & commercial care to older adults. It is the company’s third location in the US. BROOKS CORNER SHOPPING CENTER SOLD REATA Real Estate Services & their joint venture partner, Stonefield Investment Advisors, purchased the 173,041 sf retail center located at the northwest corner of S.E. Military Drive & I-37 from InvenTrust Properties.
SAN MARCOS, TX Courtesy: Austin Business Journal AMAZON’S THIRD BUILDING AT THE DOMAIN Amazon’s new 145,000 sf lease at Domain 10 will add 800 tech-focused jobs & will represent their third office space at The Domain with 171,000 sf in Domain 8 & 76,000 sf in Domain 7. Amazon employs more than 5,600 workers in the Austin area, more than 2,000 at warehouses in San Marcus & 2,600 through Whole Foods Market. AUSTIN SOCCER STADIUM KICKING OFF Precourt Sports Venture will break ground in Mid-September on the $240 million, 20,500-seat soccer park & stadium at 10414 McKalla Place. 42
Courtesy: Yardi Matrix INDEED LEASING ANOTHER OFFICE TOWER Indeed, Inc has leased the 183,911 sf Domain Gateway building at 2900 Esperanza Crossing. Move-in is anticipated to be third quarter 2019. The company now has over 1 million sf of office space in Austin & is expected to ultimately employ 3,000. ZUCKER PROPERTIES SELLS STUDENT HOUSING PROJECT California-based Arrimus Capita purchased Villas on 26th, a 49 unit/182 bed student housing project located in Austin’s West Campus neighborhood near the University of Texas.
Courtesy: JLL TRYPERION PARTNERS SELLS GATEWAY PLAZA Tryperion Partners has sold their 136,553 sf Gateway Plaza retail center located at the corner of I-35 & Loop 1604 to Nooner Holdings. HFF represented the seller who purchased the center in 2014.
NEW BRAUNFELS, TX
TITAN DEVELOPMENT BUILDING INDUSTRIAL PARK New Mexico-based Titan Development has broken ground on a 154,057 sf speculative industrial building on eight acres off FM 1101. The new project is part of the company’s larger industrial
MIXED-INCOME HOUSING COMMUNITY UNDERWAY A 352-unit apartment complex, Mission Trail at El Camino Real, is under construction at SH 123 & Clovis Barker Road. The majority of the units will be reserved for households earning 60 percent or less of the area media income. The Michaels Organization is developing the project. HUNTER PROFESSIONAL PLAZA COMPLETED Kogut Commercial Real Estate & Mittman Real Estate have completed construction of a 25,240 sf medical office building located at 151 Stagecoach Trail. KEN Adams, ‘Licia Shreves & John Grubb with Transwestern are handling leasing of the project.
NORTH TEXAS JIM BATJER has joined CBRE Capital Markets as an executive vice president.
ARLINGTON, TX KINLOCH EQUIPMENT & SUPPLY LEASES 16,963 SF Kinloch Equipment & Supply leased 16,963 sf AT 764-765 109th Street from Vista Verde Industrial, LLC. John Brewer with Transwestern represented the landlord and Corby Hodgkiss with Mercer Company represented the tenant.
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DENTON, TX FIDELIS REALTY BUYS 91.65 ACRES Fidelis Realty Partners purchased 91.65 acres of property at Rayzor Ranch Town
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Center from RED Development. The property includes existing retail shops, ground leases and 60 acres of land. The buyer is constructing three more buildings on the property and they already own Raysor Ranch Marketplace which is located on the norhteast corner of I-35 & SH 380.
located at 4875 Preston Road for its new mortgage-servicing center. PenFed is the second-largest credit union in the US.
FORT WORTH, TX KT&G USA LEASES 72,800 SF Korea- area tobacco company, KT&G USA leased 72,800 sf for its US headquarters & distribution center in the new Fossil Creek Crossing development at 5501 Sandshell Drive. The company will have a 2,200 sf office & a 70,600 sf distribution center. DUNHILL PARTNERS BUYS THE VILLAGE AT CAMP BOWIE Lincoln Property Company & Bostonbased Long Wharf Capital sold the 180,000 sf Village at Camp Bowie retail center to Dunhill Partners. The center is located near the intersection of Camp Bowie Blvd & I-30. HFF represented the seller in the transaction. SHOPS AT CHISHOLM TRAIL UNDERWAY The Shops at Chisholm Trail is underway on 35 acres at the southeast corner of Chisholm Trail Parkway & McPherson Blvd. Upon completion the development will include 215,000 sf of space which will include Old Navy, Ulta, Marshalls & Famous Footwear as some of its tenants. The development is scheduled to open spring of 2020. WESTPORT LOGISTICS CENTER UNDERWAY Newport Beach, CA-based CT Realty, in a joint venture with Mitsubishi’s Diamond Realty Investments, is constructing a two-building, 882,565 sf Westport Logistics Center project located one mile west of I-35 & adjacent to Fort Worth Alliance Airport.
FRISCO, TX CREDIT UNION BUYS 50,000 SF OFFICE BUILDING Virginia-based PenFed Credit Union purchased a 50,000 sf office building
Courtesy: Cushman & Wakefield
EXETER FINANCE RELOCATES CORPORATE HEADQUARTERS Exeter Finance is subleasing 111,795 sf for the relocation of its corporate headquarters to the three-story office building located at 2101 W. John Carpenter. It was formerly located in the Urban Towers near O’Connor Road in approximately half of its new space.
LIVE OAK, TX GATEWAY PLAZA RETAIL CENTER SELLS Tryperion Partners sold the 126,553 sf Gateway Plaza retail center located at 7505, 7513 & 7527 N. Loop 1604E to Nooner Holdings. HFF handled the transaction.
MCKINNEY, TX SRS DISTRIBUTION BUILDING NEW CORPORATE CAMPUS SRS Distribution, a national building products distributor, will build a new 100,000 sf office building in McKinney’s Hub 121 development located at the northwest corner of Sam Rayburn Tollway & Alma Road.
MESQUITE, TX DALFEN INDUSTRIAL BUYS 45.79 ACRES Dalfen Industrial purchased 45.79 acres on the south side of Kearney Street west of Hwy 352 near the Skyline Logistics Hub. John St. Clair with Younger Partners represented the seller.
NORTH RICHLAND HILLS, TX MIXED-USE DEVELOPMENT PLANNED ALONG MID CITIES BOULEVARD Convergence Capital is developing a retail/office project on 10.5 acres located on Mid Cities Blvd across from Birdville High School. The project, Berry Creek Village, will be built in two phases with the first phase to include office space which is under construction.
PLANO, TX COLLIN CREEK MALL BEING REDEVELOPED Centurion American, the new owner of the majority of Collin Creek Mall, is redeveloping the mall to include parks, underground parking, single family & multi-family & will add a 1.5 acre crystal lagoon. The redevelopment is projected to cost approximately $1 billion. RPD CATALYST BUYS PRESTON CREEK SHOPPING CENTER ASG Realty sold the 70,730 sf Preston Creek Shopping Center located at 8300 – 8412 Preston Road to Los Angelesbased RPD Catalyst. The seller was represented by Chris Harden, Kris Von Hohn & Ryan Duffie with Cushman & Wakefield as well as Samer Keilani & James Hankins with ACR Realty. The buyer was self-represented.
PRINCETON, TX CENTURION AFFILIATE BUYS 854 ACRES An affiliate of Centurion American Development Group purchased the Whitewing Trails master-planned community located near Monte Carlo Blvd & FM75. The development is projected to have 2,415 single-family homes upon completion.
RICHARDSON, TX COMMON DESK OPENING 31,500 SF Common Desk plans to open a 31,500 sf shared office center in the CityLine building located at Renner Road & US 75. The building is owned by a Transwestern Development venture, a fund advised by UBS Asset Management & Malouf Interests. MAY 2019
SOUTHEAST TEXAS BRETT WILLIAMS has joined Transwestern Commercial Services as Managing Director.
CONROE, TX MARGARITAVILLE RESORT TO OPEN ON LAKE CONROE Atlanta-based Songy Highroads LLC & The Wampold Companies of Baton Rouge, Louisiana purchased La Torretta Lake Resort & Spa along Lake Conroe with plans to convert the property into a Margaritaville Lake Resort which will be completed by third quarter 2020.
CYPRESS, TX NEW RESIDIENTIAL IN BRIDGE CREEK California-based William Lyon Homes plans to build 758 homes on 212 acres off Fry Road between Tuckerton & West Road. Houston-based Land Tejas purchased about 300 acres in the same area to double the size of its Miramesa at Canyon Lakes West development.
HOUSTON, TX TEXAS YARDS BUYS MANUFACTURING FACILITY Texas Yards LLC purchased a 50,000 sf heavy manufacturing facility on 7.4 acres located at 810 McHard Road from McHard Road Partnership. Clay Pritchett & Zane Carman with NAI Partners handled the transaction.
WHITE & CASE LEASE 57,315 SF OFFICE White & Case leased 57,315 sf on the 29th & 30th floor at the 609 Main at Texas building & will be relocating from their Two Allen Center location early 2020. Michael Anderson & Damon Thames with Colvill Office Properties represented Hines, the landlord, & David Bale with JLL represented the tenant. 44
TRAVIS RODGERS has joined NAI Partners as an executive vice president.
LIFE TIME FITNESS IN DOWNTOWN Life Time Inc will be opening a new location in 56,000 sf at GreenStreet, the downtown mixed-use development at 1201 Main Street which was developed by Midway & Lionstone Investments. The fitness center will be adjacent to the 38,000 sf co-working space Life Time Work. THREE OFFICE BUILDINGS SOLD TO CAPRIDGE PARTNERS Austin-based CapRidge Partners LLC purchased the 1616 S. Voss Road building, the 7500 San Felipe Street building & the 6363 Woodway Drive building from a partnership led by Unilev Capital Corp. Dan Miller, Martin Hogan & Johnny Kight with HFF represented the seller. 11 ACRES SOLD TO SULLIVAN BROTHERS Sullivan Brothers Builders purchased 11 acres on Palmdate & Wald Street, south of Old Galveston Road (SH 3) from the MJG Estate. David Gerber with Gerber Realty represented the buyer. MARTHA TURNER SOTHEBY’S MOVING TO AMEGY BANK BUILDING Martha Turner Sotheby’s is relocating from 50 Briar Hollow Lane to the new Amegy Bank building located at 1717 West Loop South. The company will occupy 33,000 sf. STORE SPACE BUYS 278,000 SF Store Space has purchased 278,000 sf of rentable space in three properties located in Houston, Sugar Land & Humble. The acquisitions are part of a 464,000 sf six-property portfolio in Texas, Georgia & Philadelphia.
NEW RETAIL CENTER OFF NAVIGATION BLVD. Houston-based Ersa Grae Corp purchased 1.8 acres at 2929 Navigation close to the Original Ninfa’s on Navigation several years ago. They are now breaking ground on a 19,000 sf retail center on the property whose first tenants will be Corky’s BBQ & Allegiance Bank.
CAM INTEGRATED LEASES 59,220 SF CORPORATE OFFICE CAM Integrated Solutions LLC leased 59,220 sf at 17000 Katy Freeway as the location of their corporate headquarters. Justin Leighton, Branon Pesnell & Lonna Dorman with Transwestern represented the tenant & Eric Anderson & Parker Burkett with InSite Realty Partners represented the landlord. METRONATIONAL DEVELOPING NWC GESSNER & I10 MetroNational is expanding its mixed-use development across from Memorial City Mall at the northwest corner of Gessner & 10 with the construction of a 7,000 sf Kirby Ice House, a Mia’s Table and a Torchy’s Tacos. In addition to the restaurants, Memorial City’s future mixeduse development will include Class A office buildings & possibly a hotel. CROWN CASTLE BUILDING 420,000 SF FACILITY ON 610 LOOP Houston-based cell tower owner, Crown Castle International Corp, purchased the building at 8020 Katy Freeway just west of the 610 Loop from Prologis in July 2018. The company reportedly plans to build a 13- story, 420,000 sf facility on the property. Construction is set to begin August 2019 with completion the first quarter of 2021. SCIENTIFIC DRILLING LEASES 20,500 SF WITH AN OPTION TO BUY Scientific Drilling International leased 20,500 sf of industrial space at 19700 Aldine Westfield Road with an option to purchase the building. George Froming with Belvoir represented the landlord, Giri Real Estate Corporation & Stephen Schneidau represented the tenant.
KATY, TX SUEBA USA BREAKS GROUND ON APARTMENTS Sueba USA has started construction on a 319-unit apartment project in the Katy Boardwalk District located at Lakeview Way & Kinsland Blvd.
LA PORTE TX
75.9 ACRES SOLD ON SENS ROAD Sens Road Industrial LLC purchased 75.9 acres on Sens Road near Texas 225 & Texas 146 from an undisclosed seller. Doyle Toups & Zack Taylor with Moody Rambin represented the buyer & Ed Frantz with CBRE represented the seller.
PORT ARTHUR, TX
Courtesy: The Enterprise MOTIVA ENTERPRISES BUYS HISTORIC BUILDINGS Houston-based Motiva, an affiliate of Saudi Refining, has purchased the historic & unoccupied Adams & Federal Buildings located on Austin Street in downtown Port Arthur. The company will renovate the buildings and plans to house 500 workers at the properties upon completion.
PATRINELY GROUP, ETAL SELLS HP PLAZA Patrinely Group and partners USAA Real Estate & CDC Houston sold the two-building 378,401 sf HP Plaza to Northbridge Capital LLC. The buildings are located at 10300 & 10400 Energy Drive. HP occupies 100% of both buildings. Jeff Hollinden & Trent Agnew with HFF represented the seller. HP Inc moved into the newly constructed buildings in 2018.
TOMBALL, TX EPB LAND SELLS MEDICAL RETAIL BUILDING EPD Land Development, LP sold a 11,000 sf medical retail building located at 25450 Kuykendahl to Spectre Innovations LLC. Lisa Hughes & Cathy Young with The J. Beard Real Estate Company represented the seller & Duke Iqbal wth IQ Realty represented the buyer.
advertiser index AA Realty Company .......................................... 29 Alamo EDC .......................................................... 29
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American Realty Group ...............................24, 25 Berkadia ................................................................. 3 Caldwell Companies............................................ 21 CDC of El Campo.................................................... 5 Cedar Hill EDC 1 - North Texas ......................... 16 City Bank ............................................................ 31 City of McAllen 1 - C/So Texas ........................ 33 City of Seabrook 1 - SE Texas ............................ 2 Corinthian Contracting...................................... 15 Equity Secured Investments. ........................... 13 Gordon Partners................................................8, 9 Greater Houston Commercial Real Estate..... 22 Greenberg & Company ...................................... 17 Keller Williams Realty - Harlingen.................... 17 Keller Williams Signature................................... 22 La Marque EDC....................................................... 7 Levcor, Inc. .......................................................... 20 Louetta Leasing ................................................. 20
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SWE Homes.......................................................... 43 Tarantino Properties Inc.................................... 19 Texas Funding Corporation............................... 17 The J. Beard Real Estate Company.................. 27 The Real Estate Council - Greater Ft. Worth.... 22 MAY 2019
A BICENTENNIAL CITY REDEVELOPED BY MILLENNIALS <Continued from Page 18
Kirby Liu Lovett Commercial POST Houston
David Hightower Midway East River
David Hagy Texas Central Houston Station for High Speed Rail Connecting Houston and Dallas
● East River-Mixed use development by the owners of City Centre east of the CBD on Buffalo Bayou; equal to 150 CBD blocks
Comments by the developers on the complexities of planning a forprofit development which may take thirty years to complete:
● Houston Station-multi-modal transport hub designed for seamless movement of high speed train passengers into and out of the City; the bus rapid transit connector to Uptown Houston and the transit centers at either end presently being built is a ‘gift’ to the high speed train; different ways to access the CBD from Houston Station are under discussion with the City and METRO
● City of Houston planning commission and development guidelines exist for the past and present and they must be modified for the future-this takes time to bring officials around to new ideas; fortunately our Houston officials are open to growth and change
RENDERING OF HOUS TON STATION Courtesy: Texas Central Partners
● Development must take into account the future lessening need for parking structures and how to re-purpose currently required parking space in the future once privately owned automobiles are less prevalent ● Houston is too spread out to be able to install a comprehensive public transport system-the distances and costs are too great-so we must rely on services like Lyft and Uber as we reduce our dependence on the automobile ● We need to make the leap from adaptive vision to true innovation, which involves imagining now something which does not exist and taking the risk that it is the right choice-difficult in a for profit development with investors who have shorter timelines than 18-30 years-financial risk management is paramount in futuristic developments ● We need to remember that Houston has a huge reputation for innovation and technology all over the Americas, and what we do here will show leadership to other great cities in North, South, and Central America ● High speed rail between Houston and Dallas was chosen after studying 90 city pairs in the U.S.-the choice was entirely data-driven-there are 16 million annual trips between Houston and Dallas, and the Houston Station is located convenient to those travelers: Energy Corridor, Uptown Houston, and the CBD…more convenient than Hobby or IAH. “Dallas and Houston will become suburbs of each other with the 90 minute train trip”
STATION OF DALLAS rtners G IN R E D REN Central Pa tesy: Texas Cour
● Timing of implementation of projects like East River is important; market cycles can hit at the ‘wrong time’; planning financial pro formas is difficult beyond 36 months because leasing demand, absorption rates, interest rates and other variables must be estimated and returns projected; East River will be implemented in phases with the first one being 26 acres
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