REDNews September 2014

September September 2014 2014

In In this this issue: issue:

FOR FOR 100,000+ 100,000+ CRE CRE BROKERS, BROKERS, INVESTORS INVESTORS & & DEVELOPERS DEVELOPERS

A NEW FORT WORTH LANDMARK Lone Star Business Park

Legal Update: Non-Disturbance Agreements Legal Update: Non-Disturbance Agreements Bridging the Gap in the I-35 Corridor Bridging the Gap in the I-35 Corridor Social Media – Are You Doing It Wrong?

Social Media – Are You Doing It Wrong?

Office Space – What the Tenant Reps have to Say Office Space – What the Tenant Reps have to Say New Construction Reports New Construction Reports

September September 2014 2014

In In this this issue: issue:

FOR FOR 100,000+ 100,000+ CRE CRE BROKERS, BROKERS, INVESTORS INVESTORS & & DEVELOPERS DEVELOPERS

Legal Update: Non-Disturbance Agreements Legal Update: Non-Disturbance Agreements Bridging the Gap in the I-35 Corridor Bridging the Gap in the I-35 Corridor Social Media – Are You Doing It Wrong?

Social Media – Are You Doing It Wrong?

Office Space – What the Tenant Reps have to Say Office Space – What the Tenant Reps have to Say New Construction Reports New Construction Reports

TOPPED O Town Centre One LEASING INFORMATION

THE E PICENTER

UT

W EST H OUSTON OF

September 2014

In this issue: Legal Update: Non-Disturbance Agreements Bridging the Gap in the I-35 Corridor

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

Social Media – Are You Doing It Wrong?

Office Space – What the Tenant Reps have to Say New Construction Reports

SAFETY | AMENITIES | VALUE | VISION | BEAUTIFICATION

Big-business amenities for small-business budgets

There are many big new office buildings in Westchase District perfect for large, international companies. But what if you’re not a giant company?

Don’t worry; you can still enjoy all the benefits of the District in a smaller, more affordable multi-tenant building. Many are newly updated. Some offer whole-floor opportunities. And they all offer access to everything you’d expect from the District: great mobility, beautiful surroundings, desirable amenities, close proximity to many of the city’s leading companies, and easy access to our new trail system. So learn more today.

Learn more: WestchaseDistrict.com or 713-780-9434

WESTCHASE. WHERE BUSINESS IS MOVING.

TOWN CENTRE ONE

700 Town & Country Blvd., Houston, TX 77024

Topped Out Delivers 1Q2015 TOWNCENTREONE.COM Convenient access to the offices in the Energy Corridor, Westchase District and The Galleria.

BUILDING FEATURES: • 10 Floors/254,452 SF • 26,713 SF floor plates • Town Centre One is part of a 2.2 million square foot shopping, mixed-use destination • Dedicated attached parking garage 3.9/1,000 • Architectural masonry/glass curtain wall • Two-level stone & wood lobby • Class AAA lobby finishes • Gold Leed certified • Dual-pane low-E glass • Four high-speed geared elevators • Dedicated freight elevator • Climate-controlled walkway from garage • 24/7 Security Bob Cromwell Bcromwell@moodyrambinint.com (713) 773-5531

FOR LEASING INFORMATION: Kevin Nolan Knolan@moodyrambinint.com (713) 773-5572

Dan Moody III dan.moody3@moodyrambin.com (713) 773-5540

Table of Contents

Legal Update: Non-Disturbance Agreements More Office Space Needed In Austin New Construction Reports The Dallas Office Market: A Tale of Two Cities Office Expansion Continues in the Houston Bridging the Gap in the I-35 Corridor Social Media – Are You Doing It Wrong?

Properties For Sale/Lease

10 12 14, 18, 22 16 20 24, 26 42

1-3, 5, 7-9, 11, 13, 15, 17, 21, 23, 25, 27, 28, 29, 41, 43

Commercial Services Construction 19 Environmental

30

Lending 19 Legal Services

41

Moving & Relocation

41

What’s Happening in Texas CRE Calendar of Events

32, 34, 36

Networking Photos

33, 35, 37

Deals & Announcements

38 - 40, 44

A New

Fort Worth LANDMARK...

Lone Star Business Park Lone Star Business Park is a 101 acre, planned business park developed for industrial, flex, office and medical office space. Located at the Northwest corner of Loop 820 and Quebec in Northwest Fort Worth, the business park has 155,000 square feet of Class A industrial space under construction set to be available the first quarter of 2015.

The location has great highway frontage on Loop 820 and is in close proximity to I35 W, downtown Fort Worth and is 35 minutes from DFW airport. The business park includes build-to-suit opportunities, lot sales available from 1 to 50 acres and industrial space for lease.

LEASING INFORMATION Sarah LanCarte 817.259.3512 sarah.lancarte@transwestern.com

Jeff Givens 817.259.3536 jeff.givens@transwestern.com

PUBLISHER

Ginger Wheless

Publisher’s Letter

ginger@rednews.com

EDITOR Marjorie Gohmert info@rednews.com

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

ASSISTANT EDITOR Carol Swiantek STAFF WRITER Janis Arnold CONTRIBUTING WRITERS Ray Hankamer rhankamer@gmail.com Brad Porter brad@porterpowers.com Jim Wilkie jimwilkie@swbell.net San Antonio - Kim Gatley MANAGING DIRECTOR Chris King chris@rednews.com ART DIRECTOR Connie Marmolejo - connie@rednews.com Mya Dale - mya@rednews.com MARKETING MANAGER Amanda Simonian amanda@rednews.com ACCOUNTING Benton Mahaffey accounting@rednews.com

Dear Readers, Fall comes on the 22nd of September this year. Will the weather in Texas be cool by then? Probably not. According to the tenant reps we’ve interviewed in this issue, the office leasing market is hot too, and will probably stay that way through a few more seasons.

The Avison Young tenant reps from Austin, Dallas and Houston we spoke with were unified in their observations that there isn’t enough office space to fill the needs of companies wanting to relocate or expand. As we learned in Real Estate 101, location is a critical factor and it seems many of the companies don’t question rental rates at all, at least in their first choice location.

Attracting a talented work force is of utmost concern. It was interesting to learn that some Austin software developers will take a 25% reduction in salary to live in the Austin CBD.

SALES Chris King chris@rednews.com Amanda Simonian amanda@rednews.com Ginger Wheless ginger@rednews.com

Print & Digital Distribution

REDNews is directly mailed each month to commercial real estate brokers, investors & developers in the following cities /areas as well as 200+ locations throughout Texas: Texas Brokers 7,650 Texas Leasing / Tenant Rep 6,232 Texas Investors 4,979 Texas Developers 4,710 Outside Texas Investors, Brokers, Developers, etc 81,577 Total REDNews Distribution 105,148

REDNews Has Gone Green Using Recycled Paper Thank you, Midway Press To subscribe to REDNews call 713.661.6300 or log on to www.REDNews.com/free 5959 West Loop South, Suite 135 Bellaire, Texas 77401

Speaking of Austin, CTCAR and CCIM had their annual joint event recently with speakers discussing the incredible growth in the I-35 Corridor between Austin and San Antonio. The San Marcos region is one of the fastest growing in the entire country. Adriana Cruz from the Greater San Marcos Partnership, Patrick Rose and Peter French discussed their development plans for the region.

The October issue will focus on Industrial/Land Properties and Texas Ports. The Port of Houston is celebrating 100 years in operation this year and Port San Antonio is redeveloping Kelly Air Force Base which originated in 1916. It will be fun to look at Texas industrial history, especially in light of the industrial growth our state is experiencing.

November is the Texas Deal Makers conference in Dallas and we look forward to seeing all of you retail brokers at the event.

Have a happy Labor Day! Best Regards,

Ginger Wheless

10 REDNews.com

CYPRESS PRESERVE PARK

Master Planned Business Park

Development Tracts

For Sale

Phase II SOLD

     

Phase I

4 Miles to Grand Parkway 1 Mile to Hardy Toll Rd 5 Miles to Exxon Mobil Campus 5 Miles to Bush IAH 6 Miles to Beltway 8 7 Miles to The Woodlands

W W W. C Y P R E S S P R E S E R V E PA R K . C O M • • • •

±210 Acre Deed Restricted Business Park Corporate Headquarter Sites Flexible Land Tract Sizes 1-30+ Acres Phase I Roads & Utilities Complete in August 2014

• • • •

Sites Fully Developed Utilities Included with no On-Site Detention Direct Access to I-45 and FM 1960 Minutes from the Future Grand Parkway, Exxon, The Woodlands and Bush IAH

TODD N. EDMONDS, CCIM, SIOR 713.830.2113 todd.edmonds@colliers.com MICHELLE SODERBERG 713.830.4005 michelle.soderberg@colliers.com

Personalized Service. Proven Results.

www.tarantino.com Ashford Professional

908 E. Southmore

909 Dairy Ashford Rd, Houston, TX 77079

908 E Southmore Blvd, Pasadena, TX 77502

• Two Story Medical Office Building

• 46.462 SF, Three Story Medical Office Building

• Renovated in 2008

• 80 Free Surface Parking Spaces

• 30,999 Rentable Square Feet

• Recently Renovated Lobby

• Services the Memorial & Surrounding Neighborhoods

• Generous TI Allowance

Kris Lilly | Klilly@tarantino.com Peggy Rougeou | peggy@tarantino.com

Eric Ohlson | eohlson@tarantino.com Peggy Rougeou | peggy@tarantino.com

Nanes Professional

Pasadena Professional

17030 Nanes Dr, Houston, TX 77090

3315 Burke Rd, Pasadena, TX 77504

• Two Story Medical/Professional Office Building

• Three Story Office Building

• Up to 6,571 NRA Available

• First Floor Space Available -- Lobby Exposure

• Located 2 miles from the Houston NW Medical Center

•C onveniently Located Across from Bayshore Medical Center

• 15 Minutes from IAH & The Woodlands

Eric Ohlson | eohlson@tarantino.com

• Generous TI Packages

Peggy Rougeou | peggy@tarantino.com

Corporate Office: 7887 San Felipe, #237 Houston, TX 77063 (713) 974-4292

San Antonio Office:

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

Bingle Village Shopping Center

2305-2339 Bingle Road Houston, TX 77055 • 3,263 – 8,976 SF Retail Space Available • Pylon Signage Available • Extensive Parking • Landlord will Build to Suit for Credit Tenant

Eric Dr ymalla | edr ymalla@tarantino.com

De Zavala

Austin Office:

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

Angleton Four Corners Shopping Center

1804 N Velasco Street Angleton, TX 77515 • • • • •

Up to 5,444 SF Retail Space Available Center is Located Across the Street From Wal-Mart Pylon Signage Available Traffic Count Exceeds 13,000 Cars Per Day Retail Center Remodeled in 2014

Peggy Rougeou | peggy@tarantino.com

Edgebrook Shopping Center

12770 Cimarron Path San Antonio, TX 78249

10500 Gulf Freeway Houston, TX 77034

• 3,000 – 10,000 SF, Flex Office & Biomedical Space Available

• Big Box- 24,343 SF Now Available

• Climate Controlled Warehouse • Generous Tenant Finish-Out Allowance • Northwest Location with Easy Access to I-10 & 1604

Coni Jenkins| cjenkins@tarantino.com

• Located on Hard Corner of Gulf Freeway & Edgebrook • Pylon Signage Available • Traffic Count Exceeds 222,000 Cars Per Day

Eric Dr ymalla | edr ymalla@tarantino.com Peggy Rougeou | peggy@tarantino.com

CRE

LEGAL UPDATE

What is a SNDA? BRAD PORTER Partner

Porter & Powers, PLLC A subordination, non-disturbance, and attornment agreement (SNDA) is actually three agreements in one and relates to the respective rights of a tenant, landlord, and the landlord’s lender in a leasing relationship. As discussed below, I think a SNDA is an agreement that every commercial tenant should request when entering into a new lease with a landlord, but a tenant’s inability to obtain a SNDA does not necessarily spell trouble.

The subordination portion of the SNDA assures the landlord’s lender that its lien (established upon making a loan to the landlord) is superior to the tenant’s interest in the property. Even if the tenant entered into the lease prior to the loan between the landlord and the landlord’s lender, the SNDA will usually function to subordinate the tenant’s interest in the property to the lender’s interest.

The non-disturbance portion of the SNDA assures tenants that their rights to their lease premises established by their lease will be preserved (not disturbed), even if the landlord defaults on its loan with its lender and that lender then forecloses on the property.

The attornment portion of the SNDA provides that the tenant will continue their obligations under the lease in the event that landlord’s lender or another new owner takes over the lease. It assures a lender, generally, that the tenant will attorn to agree to be a tenant to the lender or another purchaser following a foreclosure sale.

I signed a lease with the landlord. I’m protected, right?

Your lease is an agreement with a landlord that allows you to use and occupy space based upon certain conditions for a specified period of time. If your landlord sells the building, your lease will still be in full force and effect with the new owner of the building. But, if the building owner defaults and a lender takes over the building, without a SNDA, you have no privity with lender (meaning, the tenant never entered into any agreement with the lender directly). In other words, a landlord’s default under its loan with its lender can eradicate your rights to use and enjoy space in the building. Your lease may be deemed null and void should it be in the best interest of the lender.

Technically, without a SNDA, the tenant is screwed; but technically speaking and practically speaking are two very different things.

Let’s consider a typical office or retail building. There may be dozens of tenants in the property. These tenants will have signed leases at various times – as such, some are at or above market, and some are below market. If the owner of the building defaults on its loan and a lender takes over, it would be a monumental task for the lender to empty the building of current tenants or even under-market tenants.

There would be devastating delays, legal costs, brokerage fees, and construction fees, just to name a few, that would make it very unappealing for most lenders to be willing to terminate leases and stop existing cash flow. In other words, the chances of actually getting

14 REDNews.com

kicked out of your building in the event of a landlord default, even without having obtained a SNDA, may be small.

So, do I need a SNDA or not?

Although it is not a bad idea for every tenant to seek a SNDA, practically speaking, it is not imperative for every tenant. The reality is, moreover, that a landlord is much more likely to work with a tenant on getting a SNDA when the tenant has leverage – the tenant is renting a large portion of the building, the tenant is a desirable use for the building, the tenant is taking the last unoccupied space, etc. In my experience, the practical reality is that tenants are only kicked out of a building post-foreclosure when the new owner of the building can make more money by having the tenants out of the building than by having them in the building. With that backdrop, if I am representing a tenant, the following are some of the circumstances under which I vigorously seek a SNDA: (1) My client is entering into a long-term lease; and/or (2) M y client is wholly assuming or “fronting” (with the landlord to repay after the tenant is fully permitted and open for business) substantial costs associated with improving the premises to make it ready for the tenant’s use; and/or (3) M y client is renting a large portion of a building; and/or (4) M y client is renting a property that “feels” like its highest and best use is not the current use – such as when a property might be repositioned as another use or razed so that a developer can go vertical; and/or (5) The landlord purchased the property at the height of the market, and the market has taken a material turn for the worse, or the property is substantially vacant and likely not-performing.

What should be in a SNDA? At a minimum, the tenant should ensure that landlord’s lender agrees to assume all of the obligations of the landlord. A strong tenant should be more specific, especially if signing a lease for a space that is under construction or requires substantial repairs or renovation. In that case, the SNDA should include a provision requiring the lender to complete any unfinished construction begun by the landlord as a pre-condition to collecting rent. This provision might also include a similar covenant for casualty and condemnation repairs. Finally, although the SNDA can be referenced in the lease, it should be a standalone document that is in recordable form. Upon execution by the tenant, the landlord, and the lender, the document can then be recorded in the real property records to put all parties on notice of the SNDA. As always, there is plenty more to discuss but not enough space. Feel free to email me at brad@porterpowers.com or call me at (713) 533-1499 if you would like to discuss.

www.PorterPowers.com

For all your commercial real estate needs, we’re here to point you in the right direction.

LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT

The Preserve Office Park For Sale or Lease

25420 Kuykendahl Rd., The Woodlands • Located at the corner of Kuykendahl Road and Preserve Way, near Creekside Village • 1,250 SF – 12,500 SF Contiguous Available • Six buildings, one story total 45,000 SF

Office/Office Medical For Lease

3117 College Park Medical, The Woodlands

Vision Park Office Building For Lease

128 Vision Park, Shenandoah

The Woodlands Gateway For Lease

26865 I-45, The Woodlands

Timberloch Place For Lease

2002 Timberloch, The Woodlands

• Three-story building • 5.0 - acre site • Typical floor plate: 25,000 rentable square feet • Estimated completion Spring 2014

• New construction ready for build-out • Direct access to I-45 & the Hardy Toll Road • Great location in The Woodlands Submarket with excellent freeway visibility • Three-story office building with approximately 23,000 RSF

• Space available: Suite 300 – 17,815 RSF & Suite 600 – 17,815 RSF with upgraded finishes • Town Center Location and walking Distance to Woodlands Waterway, Market Street and adjacent to The Cynthia Woods Mitchell Pavilion • Excellent Access – under ½ mile to I-45

Emergency Care Facility For Sale or Lease

32100 Dobbin Hufsmith For Sale or Lease

Magnolia Crossing For Lease

4019 I-45, Conroe

32100 Dobbin Hufsmith, Magnolia

33300 Egypt Lane, Magnolia

• Brand new 30,000 SF medical office building • 4,489 SF available – divisible to 2,000 SF • Generous tenant improvement allowance • Located less than 1 mile from I-45, Memorial Hermann, St. Luke’s and MD Anderson Hospitals.

• Conveniently located on I-45 in Conroe access road • 10,000 SF of shell space • 2,500 SF for lease • Built in 2012, on 1.704 acres

• 46,832 SF building on 10 acres • Great potential for Corporate Campus • High end finishes, with room for expansion

• Multiple suites sizes available • Situated in high growth area of The Woodlands residential & commercial corridor • Located 6 miles west of I-45, 1 block from Research Forest Drive.

• Easy access to FM 1488 and FM 2978

Rayford Medical For Lease

Spurwood Building For Lease

Town Center Plaza For Lease

Willowbrook Place I & II For Lease

1100 Rayford Rd, Spring

10655 Six Pines Dr.

9400 Grogan’s Mill, The Woodlands

• Building: 8,080 SF, with 2,020 SF - 4,040 SF available for Phase II • Exceptional visibility and accessibility from Rayford Rd. • Available office suites will have dedicated front & back door, with 60’ bay depth • Explosive new commercial & residential growth corridor

• Two-story, 23,432 SF building, situated on 1.55 acres • 1,872 SF available -- full service • Located within the heart of the Woodlands Town Center, close to Market Street & The Cynthia Woods Mitchell Pavillion • Minutes from I-45 and the Hardy Toll Road, right off Woodlands Parkway

• Located in the heart of Town Center, this Class A office building is minutes from Hughes Landing, Market Street and the Waterway • Surface & garage parking available, granite finishes and double glazed ‘E’ glass, backup generator, energy management system and onsite storage area

17314 & 17350 HWY 249, Houston • Two, 3-story Class B office buildings • 800 SF, approximately 6,000 SF contiguous available • Convenient location at HWY 249 (Tomball PKWY), FM 1960, and Beltway 8 • Located on the periphery of Willowbrook Mall

10077 Grogan’s Mill Road, Suite 135 The Woodlands, TX 77380

281.367.2220 jbeardcompany.com This information contained herein has been obtained from reliable sources; however, The J. Beard Company, LLC and The J. Beard Real Estate Company, L.P. makes no guarantees, warranties or representations to the completeness or accuracy of the data. Property submitted is subject to errors, omissions, change of price, prior sale or withdrawal without notice.

Southwest

-148,9

6,189,

More Office Space Needed in Austin REDNews talks to Mike Kennedy from Avison Young’s Austin Office

Mike Kennedy, Managing Director Avison Young - Austin

What challenges are you facing in Austin’s office market?

The challenge is finding space for tenants. The three major markets are downtown, northwest and the southwest and they cater to three different client types.

Downtown is the location for young companies that are fast growing, like tech companies. Their decision to be downtown is based on having an environment with an urban feel that includes housing, food and the bar scene.

Those companies are all about creating an environment and a culture that attracts and keeps their talent happy. My son, Burke, was speaking with the CEO of a tech company who said that he could hire a software engineer to his location downtown for about $100,000 a year, whereas he would have to pay $130,000 to that same engineer if he were located in the suburbs. This is the opposite of how it was twenty-five years ago, when because of the commute, the higher cost of parking and the way people had to dress, it cost more to employ someone downtown than it did to employ them in the suburbs.

Austin has delivered twelve to fourteen residential towers downtown since 2008 and more are on the way. With the residential component, the amount of retail has grown from 500,000 to 600,000 sf to 1,800,000 sf. The city has mandated that retail be a part of the ground floor of any development downtown, which enlivens the street scene.

What is changing, and changing rapidly, is the increased demand for office space by technology companies. In the Internet days of the late 1990s, we saw demand from tech companies; however, they were looking for more warehouse and cool space which Austin did not have a lot of. Now, they are looking at traditional office buildings to repurpose into a tech design look, taking out the ceilings, creating open floor plans, sealing concrete floors and bringing in a lot of natural light.

16 REDNews.com

How much office space is under construction?

In downtown there is about 900,000 SF under construction or renovation.

How much has been pre-leased?

Of that space, I would estimate about 60+%. Once the Cousins building opens in December or January, that percentage quite likely may be as high as 80-90%. When we broke ground on the Cousins building in June of 2013 there was only one crane on the skyline; now there are probably ten.

Is there still a draw for the law firms?

The upper bank of the new Colorado Tower is interesting. It is primarily law firms, but a Midland oil and gas company, Parsley Energy, came in and took three floors. We have never seen that kind of demand out of oil and gas in Austin.

However, I happened to be playing golf with a guy who was in the energy business. He knew the company. I asked him why an oil and gas company would come to Austin, as it is not a normal occurrence.

He said, “First of all there is not any office space in Midland. Secondly, we can do our business anywhere these days because of technology.” He said, “I imagine they were sitting around saying we can’t get any space here, so why don’t we go to Austin? “ They took three of the top floors, +/-72,000 square feet, which is 20% of the building. It is just unbelievable. There are two technology companies on the lower bank that could take up to four floors.

It is going to be a mix of traditional and tech tenants, probably most indicative of what Austin’s CBD market is becoming.

Law, energy and tech is the demand?

Yes, with the demand being, first, technology, second, law and third, oil and gas.

There is only so much space. Where will the natural evolution of space be from that downtown area? They want Downtown first, Northwest or Southwest would be their second choices? Or is it a different group of employers?

Certainly there is crossover; however, Northwest is employing a different type of individual. That demographic is comprised of individuals in their late twenties to fifty and likely married with children. They are interested in being in a good school district, which Round Rock and Leander would qualify for. Their commute will be to The Domain, which will be a second downtown, or the Arboretum area and out along 183 and in different spots along 620. Those areas are seeing companies like Apple Service Center, Oracle, eBay, PayPal and HIB Global.

What about the appeal for southwest?

More headquarters. Southwest is the Eanes Independent School District and Lake Travis School District, which is supplanting Eanes as the premier school district in the southwest. Southwest is experiencing extensive growth centered around the Hill Country Galleria which entails a lot of executive housing.

Northwest does not have the same level of executive housing. Southwest has it, so executives who live out there might be focused on having their headquarters in that area.

“The upper bank of the new Colorado Tower is interesting. It is primarily law firms, but a Midland oil and gas company, Parsley Energy, came in and took three floors. We have never seen that kind of demand out of oil and gas in Austin.”

Are the rates there substantially lower?

Southwest has limited supply and limited availability to deliver new supply because of the SOS ordinance, which limits impervious cover to 15%.

There is a scarcity of sites to deliver office hence driving rates.

Northwest has large areas that are preserves and protected. The city spent $50M acquiring land and that has largely been Northwest, so we have some limitation there. However, Northwest has Williamson County, which is very pro-growth with a wide variety of housing alternatives, amenities and transportation. It is all easier Northwest. The Northwest is going to be more competitive; however, the rents are in the high thirties to low forties on average over a seven to ten-year term. Downtown will be in the low forties to low fifties on an average term over a ten-year period.

What do you see happening in the next five years?

There will be a significant amount of space delivered over the next three plus years beyond what is under construction now. Migration and job growth is likely to continue. I do have some concern about the volume of supply five years from now and whether the demand will remain as strong.

So the issue is whether there will be overbuilding?

It will become overbuilt. That is what always happens and it will not be any different this time. It is just a question of when. If investors have a 10-year horizon and the capacity to weather a storm, then they will be fine. Austin is a great place to invest.

If an investor has a 3-5 year horizon, then he may not have the best time to exit. An investor with an 18-24 month horizon would probably fare just fine that way too.

Let us help you reach your goals!

Professional Residential Property Management Our Goal

• Maintain the physical property • Keep occupancy high • Realize financial objectives

We work closely with ownership, providing them with monthly reporting that gives a comprehensive understanding of both the physical and financial condition of their assets.

Mockingbird Management, LLC is a registered HUB and has experience in managing Conventional and Affordable Housing including: HUD, Section 42 Tax Credits and USDA 515 properties.

www.mockingbirdmanagement.com | Alison Hunsicker | alison@mockingbirdmanagement.com

100 Highland Park Village, Suite 200 Dallas Texas 75205 | Phone 214-751-6160

Austin New Construction 2Q

Lisa Bridges, Director of Market Research-Houston Brittany Ofield, Research & Marketing Coordinator

% LEASED

DEVELOPER

371,348

49.4%

Cousins

Sep-14

3700 N Capital of Texas Highway

249,870

38.1%

HPI Real Estate Services & Investments

May-15

North

11501 Alterra Parkway

221,973

0.0%

Endeavor Real Estate Group

Sep-14

Southwest

320 Capital of Texas Highway

217,490

0.0%

Riverside Resources

Apr-15

CBD

500 W. 5th Street

195,378

50.3%

Endeavor Real Estate Group

Sep-14

Southwest

5707 Southwest Parkway

160,935

75.2%

Brandywine Realty Trust

Jun-15

Southwest

5707 Southwest Parkway

160,935

62.7%

Brandywine Realty Trust

Jun-15

Southwest

2500 Bee Caves Road

145,437

0.0%

Endeavor Real Estate Group

May-15

North

11800 Domain Blvd

143,331

80.0%

Endeavor Real Estate Group

Sep-14

Northwest

6500 N Capital of Texas Highway

115,000

0.0%

Endeavor Real Estate Group

Oct-14

Northwest

6500 N Capital of Texas Highway

115,000

0.0%

Endeavor Real Estate Group

Oct-14

Southwest

2500 Bee Caves Road

69,150

20.5%

Endeavor Real Estate Group

May-15

CBD

311 Bowie Street

40,985

100.0%

Endeavor Real Estate Group

Sep-14

Southwest

6838 Bee Caves Road

40,000

100.0%

Equitable Commercial Realty

Sep-14

Southwest

7710 Rialto Blvd

35,000

77.1%

Barton Commercial

Sep-14

Southwest

7710 Rialto Blvd

27,637

0.0%

Barton Commercial

Sep-14

Round Rock

411 W Main Street

26,563

0.0%

Unknown

May-15

CBD

500 W Cesar Chavez Street

24,000

0.0%

Trammel Crow/The Hanover Company/ Pacific Life Insurance Company

Oct-15

Cedar Park

1785 Whitestone Blvd

16,000

0.0%

Unknown

Aug-14

Northwest

10815 Ranch Road 2222

15,340

0.0%

Equitable Commercial Realty

Jul-14

Southwest

5920 William Cannon Drive

14,868

0.0%

Equitable Commercial Realty

Jul-14

Round Rock

7201 Wyoming Springs Drive

12,000

33.3%

Healthcare Real Estate Services

Jul-14

Cedar Park

El Salido Pky & FM 620

10,500

79.1%

Antenora Architects LLP

SUBMARKET

BUILDING ADDRESS

CBD

303 Colorado Street

Southwest

RBA

San Antonio New Construction 2Q

ETA

Sep-14

Lisa Bridges, Director of Market Research-Houston Brittany Ofield, Research & Marketing Coordinator

SUBMARKET

BUILDING ADDRESS

RBA

Far West

9500 Westover Hills Blvd

180,000

100.0%

CyrusOne, LLC

Sep-14

Far West

8100 Potranco Rd

160,000

100.0%

Corporate Office Properties Trust

Aug-14

Far Northwest

15827 La Cantera Pky

129,015

100.0%

Patrinely Group LLC

Nov-14

Northwest

4630 N Loop 1604 W

126,626

11.1%

Stream Realty Partners, Central Texas L.P.

May-15

Northwest

12459 Network

80,569

49.1%

Windbreak 4 LLC

May-15

North Central

250 W Nottingham Pl

68,000

100.0%

Milam Real Estate Investors

Sep-14

Northwest

2000 NW Loop 410 Fwy

50,000

100.0%

Pape-Daqwson Engineers

Aug-14

Far West

10010 Rogers Run

45,000

54.4%

Westover Commercial Group Ltd

Aug-14

Comal County

601 Creekside Way

42,000

0.0%

Transwestern

Sep-14

18 REDNews.com

% LEASED OWNER

ETA

713.690.0000 CaldwellCos.com

Greenpark One

FEATURES •

access

• On-site deli, bank, pharmacy & medical lab • Recent exterior and interior • Valet & reserved garage parking

• On-site property management

Call For Pricing For Lease - 5420 Dashwood, Houston, TX 77081

Bellaire Medical Plaza

FEATURES • Adjacent to Cornerstone Hospital of Bellaire • Centrally located between Memorial Hermann Southwest and The Medical Center • Ample parking • Monument signage available • Amenities include LabCorp, Medex Plus Pharmacy and a vending area • Within walking distance of several restaurants • 1 block from a METRO route

Call For Pricing Blake R. Virgilio, CCIM Email: BVirgilio@CaldwellCos.com

Southwest

-148,9

6,189,

Dallas’ Office Market: A Tale of Two Cities REDNews talks to Art Green, Principal with Avison Young, Dallas

Art Green, Principal Avison Young - Dallas

Art Green is a Principal with Avison Young in Dallas who specializes in office leasing and tenant representation. Art has over 25 years of experience with clients such as, 21st Century Insurance, Gruma Corporation, Pegasus Solutions, Gehan Homes and Palm Beach Tan .

What are the challenges in the Dallas office market today?

There are a number of experienced and talented tenant reps providing competition in the marketplace. I think the most interesting thing is the number of relocations that are coming into the area and the dynamic market that we are experiencing.

Are you prospecting differently for clients today than you did five years ago?

Not really. It’s about working harder than the competition. It’s about diligent research. And at the end of the day, it boils down to relationships.

Our job is to be knowledgeable and demonstrate to the clients our commitment to understanding their business objectives---ultimately, delivering best in class service and solutions.

What are the most sought after areas in your region?

It is a tale of two cities. You have the Central Business District/Uptown area. Then you have the Pla-

20 REDNews.com

no Legacy area. For example, in the CBD we have two large tenants, Omnitracs and Active Network relocating from California. They received fourteen million dollars in incentives from the city and the state. They’re going to take 300,000 feet downtown which will bring 1,400 jobs to the city.

Uptown is exploding and particularly attractive to the young professionals. Numerous apartments are being built and it’s a cool, hip area. The restaurants, bars and multi-family housing are the main draw, plus Klyde Warren Park, a new urban park, which has been built to bridge the CBD with Uptown.

Is the location so important to tenants that they aren’t questioning rental rates?

Sometimes. I’ll give you an example. A major law firm moved out of the Central Business District into the Uptown market only ten blocks away, from a space of 175,000 feet to a brand new space that’s about 110,000 feet. It’s a “rightsizing” move. They don’t have law libraries anymore. Everything’s accessible on a desktop. You don’t have these massive stairwells and grandiose lobbies anymore. Within the legal industry, recruiting and retaining top talent has become a priority.

Part of that begins with the image the firm portrays with its office space.

Have floor plate sizes increased in the DFW area?

Areas differ. If you look at the suburban markets, like Plano Legacy, there is more of a horizontal collaborative campus environment as opposed to a vertical environment. They’re not going up thirty floors.

Where else are you experiencing growth outside of Plano and the CBD? Out to the west, closer to the DFW Airport, Avison Young represented Nationstar Mortgage for a 170,000 square foot headquarters build-to-suit.

This particular assignment was a consolidation of several locations. In addition, 7 Eleven is relocating their headquarters to approximately 300,000 feet in that same development. The Nationstar requirement was a consolidation, but the 7 Eleven relocation out of the CBD is for a more centralized location.

In addition, State Farm is doing a massive develop-

ment of nearly two million square feet over in the Richardson corridor, approximately ten miles east of Plano Legacy.

Are your B and C buildings being brought up to class A standards?

I’m not really seeing a lot of that. I think that it’s tough for them to compete. People like new. It’s more efficient. You can put together amenities.

You can put in a nice elevator, renovate lobbies and restrooms and all that sort of thing, but you can’t renovate a floor plate.

“People like new. It’s more efficient.

You can put in a nice elevator, renovate lobbies and restrooms and all that sort of thing, but you can’t renovate a floor plate.”

How long do you think this up market is going to last? With twenty seven years in the business, you’ve been through some cycles.

Dallas is an interesting market, because there are no physical boundaries. We’re not constricted by water or mountains. It’s a wide-open market so these cycles have not lasted very long. Historically they’ve lasted twenty-four months on the short side, and maybe 30 to 36 months on the long side.

Let’s face it; the success that Houston has enjoyed has been driven primarily by the oil and gas business.

Does it not influence all of Texas?

Yes, it does. However, Dallas is more of a service and technology driven market as opposed to an energy driven market.

Texas has been extremely aggressive in going after companies to relocate here. We have a lot of things to offer. We are a right-to-work state. We have no state income tax. We are pro-business.

These are benefits that companies from California and the rest of the United States are looking at when they say to themselves, “Wow, Texas is where we want to be!

15.62 ACRES Ready FoR Retail, oFFice, MultiFaMily/SenioR HouSing oR induStRial developMent

Grand Parkway (Proposed)

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da

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yk

Ku .

Rd

Tracts 1 & 2

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Tract 1

• 1,136 FF on Kuykendahl Road | 5.69 Acres

Tract 2

• 529 FF on Kuykendahl Road | 9.92 Acres • Great visibility on heavily traveled Kuykendahl Road • Located in dense residential area just west of I-45 • +/- 400’ Northwest of Ella Boulevard, Houston, Texas • Zoning: None • Utilities: HC MUD #399 • Key Map: 372B

PRICED REDUCED!

Tract 1: $5.00 PSF; Tract 2: $5.00 PSF

Brokers Welcome

R. S. Hart

Commercial Brokerage, L.L.P.

Rachel S. Grant

7887 San Felipe Suite 122, Houston, TX 77063 Phone: 713-789-3133 Cell: 281-686-2993 RachelGrant@RSHart.com REDNews.com 21

Dallas New Construction 2Q

Lisa Bridges, Director of Market Research-Houston Brittany Ofield, Research & Marketing Coordinator

% LEASED

SUBMARKET

BUILDING ADDRESS

RBA

Richardson

3521 W Plano Rd

1,500,000

Dallas CBD

2323 Ross Ave

450,000

Alliance

Feather Grass Rd.

357,214

Upper Tollway/West Plano

7250 N Dallas Pky

342,066

Uptown/Turtle Creek

2801 N Central Expy

250,000

100.00% The Richards Group

Feb-15

Preston Center

8111 Westchester Dr.

190,000

100.00% Bandera Ventures

Apr-15

DFW Freeport/Coppell

8951 Cypress Waters Blvd

188,440

0.00% Billingsley Company

Aug-14

Upper Tollway/West Plano

6111 W Plano Pkwy

180,000

51.90% Billingsley Company

Sep-14

DFW Freeport/Coppell

8950 Cypress Waters Blvd

175,585

100.00% Billingsley Company

Dec-14

Uptown/Turtle Creek

2950 N Harwood St

167,735

West LBJ Freeway

Senlac Dr. & Wittington Pl

165,000

DFW Freeport/Coppell

8840 Cypress Waters Blvd

164,784

Alliance

2201 Lou Menk Dr

164,000

Alliance

9800 Hillwood Pky

157,908

0.00% Hillwood Properties

Sep-14

Central Expressway

8020 Park Ln

149,510

0.00% Northwood Investors, LLC

Jan-15

Quorum/Bent Tree

16400 N Dallas Pky

123,167

Central Expressway

7859 Walnut Hill Ln

86,383

Ft. Worth CBD

407 Throckmorton St.

75,971

0.00% Sundance West Partners

Aug-14

DFW Freeport/Coppell

1350 Lakeshore Dr

47,600

64.60% Lincoln Property Company

Oct-14

DFW Freeport/Coppell

1315 S Belt Line Rd

40,600

0.00% Lincoln Property Company

Sep-14

Frisco/The Colony

6601 Cascades Ct

34,787

0.00% CBRE

Aug-14

Frisco/The Colony

5830 Crescent Dr

31,328

0.00% CBRE

Aug-14

Frisco/The Colony

6240 Morning Star Dr

30,079

0.00% CBRE

Aug-14

Frisco/The Colony

4850 Hwy 121

24,909

Frisco/The Colony

6270 Morning Star Dr

24,102

Alliance

2488 Golden Triangle Blvd

20,000

100.00% Oxley Williams Tharp Architects

Aug-14

Alliance

8429 Park Vista Blvd

15,000

100.00% Yahweh-yireh LP

Aug-14

West Southwest Ft. Worth

5700 Edward Ranch Rd

14,579

100.00% Edwards Geren Limited

Oct-14

Uptown/Turtle Creek

2504 Maple Ave

14,063

100.00% Mohsen Heidari

Dec-14

Office Ctr/West LBJ Ext

950 W John Carpenter Fwy

13,600

100.00% SkyPass Travel, Inc.

Aug-14

Westlake/Grapevine

1575 E Southlake Blvd

12,500

100.00% Jefflyn & Company

Aug-14

Westlake/Grapevine

2050 Hall Johnson Rd

12,000

Frisco/The Colony

Warren Pky & Legacy Dr

10,000

22 REDNews.com

OWNER

100.00% KDC Real Estate Development & Investments 66.40% Hall Financial Group 100.00% USAA Real Estate Company 15.90% Trammell Crow Company

40.70% International Center Development XVIII, LLC 100.00% Billingsley Company 0.00% 100.00% Burlington Northern Railroad

ETA Feb-15 Apr-15 Oct-15 Aug-14

Apr-15 May-15 Oct-14 Apr-15

86.00% Spring Valley Construction Company

Nov-14

33.40% The Kroenke Group

Jan-15

100.00% 121 Office Plaza LLC 50.00% CBRE

88.40% Continental Real Estate Inc. 0.00% Wynmark Commercial

Dec-14 Aug-14

Sep-14 Aug-14

TURNING DESIGNS INTO REALITY. COMPLETING DESIGNS INTO STRUCTURES.

• Gas Stations

• Franchises

• Steel Warehouse Buildings

• Car Washes

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• Major Remodeling

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• Multi-Story Structures

Retail Shopping Centers

Salons/Spas

Restaurants

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REDNews.com 23

Expansion/Relocation to Houston Continues REDNews talks to Charlie Neuhaus, Principal with Avison Young, Houston There is definitely a trend that way. We still have some users that refuse to transition to the open space concept but across the board we are seeing the incorporation of more collaborative spaces and open concepts in office design. Many companies that previously were not interested in open concept are starting to trend that way. It creates a more efficient use of space but it also helps with recruiting in some industries.

Dallas and Austin are strong CBD markets with a live/work/play atmosphere. Do you see that happening in Houston?

Charlie Neuhaus, Principal Avison Young - Houston

What are the challenges today in Houston’s office market?

The challenge right now is the lack of space, and finding solutions that work for today’s head count while making sure there is enough room for growth.

Do you consider all areas of Houston strong?

Every market is reasonably healthy. The laggards are the Greenspoint Market and the 290 corridor.

Some of that is due to the construction on 290. For the most part, all other areas are firing on all cylinders. It is interesting to note that the Clear Lake area, which has previously been a slower market, is now beginning to attract some of the oil and gas companies that traditionally have looked at the CBD. The reasons for this can be attributed to a strong, available work force and relatively low rental rates.

Has the profile of your clients changed in the last five years?

No, not the way it has in Austin, certainly. Being right on the lake, Austin CBD has some natural beauty. That whole culture gravitates around downtown. What we are seeing in Houston are multiple CBDs. There is Westchase, the Energy Corridor, the Woodlands, Sugar Land and Uptown.

These areas have created live, work, and play solutions that are just as good as the “true” CBD but in other areas. If a person wants to live near the true downtown, it is sort of a challenge from a housing standpoint.

What about flight to quality. Are people wanting more Class A space?

It is the flight to amenities and quality, but specifically to the amenities that employees are looking for. And certainly, there is room for the four-story tilt-wall building that does not have quite the amenities but that offers more of an efficient solution.

Have floor plates been getting larger?

They continue to get slightly larger. Big companies are willing to soak up full floors and make use of the larger floor plates. Certainly we are seeing the larger companies take bigger chunks of space.

Are you seeing more expansion or relocation of existing companies?

experiencing a little bit of a plateau. There is an increase in build-out and construction costs, so developers have to pencil in more for their tenant improvement allowances to allow tenants to build-out the space they want and require. Many companies, because they want to preserve their growth options, are willing to commit for seven or ten years as long as they have an understanding of how their company can grow within that lease term during that seven to ten year period.

“Looking at what the major oil companies are doing in Houston... We are going to see thirty-six months of continued positive absorption. It may slow down a bit but it will still be healthy for Houston. Outside of that, it would take a notable global issue to slow us down from what we are experiencing right now.”

There is a lot of construction going on. How long is this going to last?

Looking at what the major oil companies are doing in Houston, they are obviously making big bets that Houston will be a good place to find employment. We are going to see thirty-six months of continued positive absorption. It may slow down a bit but it will still be healthy for Houston. Outside of that, it would take a notable global issue to slow us down from what we are experiencing right now.

As far as what they are doing, no. They all seem to be getting bigger and, therefore, they are willing to spend more money on their office space. They have oriented their growth to be efficient, understanding and looking more at what the cost is per employee. This is not to say they are cutting back, they are just making sure they’re cognizant of analyzing costs versus simply getting the space and filling it.

Both. The most interesting deal I have worked on was a company that leased a twenty thousand square foot, full floor sub-lease in the Energy Corridor with four employees. This was a new company to Houston, and their comment was, they needed to have a location in Houston.

They only had four employees at the time, but they were confident enough that they were going to expand and move employees here so they subleased the full floor.

What does the term “cost per employee” take into consideration?

Well that certainly increases your cost per employee, doesn’t it?

So, what’s been the biggest surprise to you in the market?

It takes in how efficiently leased space is being utilized: how many bodies, how many square feet per employee, and how much is being paid per square foot. It is a good benchmark for understanding company growth, what they should be shooting for in the different markets they enter or in the different service lines they get involved in.

(Laughs) Well, we were subleasing to them, so I did not advise them on that aspect of it, but you are right, that is a high cost per employee.

Stepping back and looking at where rental rates are, it is pretty staggering to see where we are today versus three or four years ago. It is new territory in Houston, on the rental rate front. But then taking that and looking across the country, we realize that we are still relatively cheap. While we feel like it is a sudden growth, it is not necessarily unhealthy. We are really catching up with the rest of the country.

Are you seeing open concept more?

24 REDNews.com

In terms of lease terms, or TI, or option renewals, is there anything different? I know rates are going up, but is anything competitive?

Rates have escalated quickly over the last twentyfour to thirty-six months and perhaps now we are

The story will continue to be the Energy Corridor.

Despite the amount of development and planned development, the housing demographics, cost of living and the growth of the city dictate that that market will be on this pace for the next twenty four to thirty six months and beyond. While the market has definitely woken up, it has further to go. You will see more amenities and more of the work/play mentality take hold in that market.

2 Mason Creek Office Center II 21700 Merchants Way, Katy, TX 77449

Strategically located along I-10 just inside the Grand Parkway (Highway 99) in Katy, Texas

DELIVERS 2Q 2015

• Easy access to I-10 via a full interchange at Mason Road.

• Within the Energy Corridor, one of Houston’s most dynamic and high growth employment centers, in master-planned park.

• One quarter mile away from the one and only Tier IV data center in Houston.

• Site Area 9.3 Acres (405,108 SF)

MASON CREEK OFFICE CENTER II

• Building Area 127,955 SF (3-Story) • Quoted Rental Rate $18.75 per RSF (NNN) • Energy efficient building materials, lighting and mechanical systems • Bright open floor plans with 10’ ceiling heights maximizing natural and ambient lighting • Oversized restrooms with high quality finishes and granite counter tops • Registered to be LEED certified core and shell Leasing Information:

Bob Cromwell

Bcromwell@moodyrambinint.com 713-773-5531 (P)

Kevin Nolan

Knolan@moodyrambinint.com 713-773-5572 (P)

LOCATION 2

• Strategically located along I-10 just inside the Grand Parkway (Highway 99) in Katy, Texas.

• Easy access to I-10 via a full interchange at Mason Road.

• Within the Energy Corridor, one of Houston’s most dynamic and high growth employment centers.

• One quarter mile away from the one and only Tier IV data center in Houston.

• Close proximity to strong labor pool, housing, medical facilities, hotels and retail.

Excellent local schools.

• Part of master planned, deed-restricted park.

• The Grand Parkway extension from I-10 to Highway 290 is now open providing access to the north and northwest labor pool.

REDNews.com 25

Houston New Construction 2Q

Lisa Bridges, Director of Market Research-Houston Brittany Ofield, Research & Marketing Coordinator

RBA

% LEASED

DEVELOPER

ESTIMATED DELIVERY DATE

SUBMARKET

BUILDING ADDRESS

Woodlands

23125 I-45 S

3,000,000

100.00%

Gilbane Building Company

Westchase

2101 Citywest Blvd

1,100,000

100.00%

W.S. Bellows Construction Company

Jun-16

CBD

609 Main St

1,057,668

0.00%

Hines

Feb-17

Northwest Far

5150 Westway Park Blvd

640,000

100.00%

CyrusOne

Mar-15

Katy Freeway West

925 N Eldridge Pky

600,000

100.00%

Trammell Crow Company

Dec-16

Galleria/Uptown

1500 Post Oak Blvd

600,000

100.00%

Transwestern

Katy Freeway West

935 N Eldridge Pky

546,604

100.00%

Trammell Crow Company

May-15 Dec-14

Jul-14

Oct-16

Woodlands

Interstate 45 & Grand Pky

515,000

100.00%

Patrinely Group, L.L.C.

FM 1960/Hwy 249

SH 249 & Louetta Rd

456,000

100.00%

Trammell Crow Company

Jun-15

Katy Freeway East

9811 Katy Fwy

452,370

37.79%

Anslow Bryant Construction Ltd.

Nov-15

Katy Freeway West

11750 Katy Fwy

428,831

12.13%

Westchase

10353 Richmond Ave

417,000

100.00%

CBD

1110 Main Street

406,600

100.00%

Greenway Plaza

3737 Buffalo Speedway Ave

400,000

22.85%

Katy Freeway West

201 N Dairy Ashford Rd

336,000

Katy Freeway West

201 N Dairy Ashford Rd

336,000

Katy Freeway West

201 N Dairy Ashford Rd

Katy Freeway West

Mac Haik Realty LLC

Dec-14

BMS Management, Inc.

Sep-15

Hines

Jul-15

PM Realty Group

Jan-15

100.00%

Hines

Mar-15

100.00%

Hines

Mar-15

336,000

100.00%

Hines

Mar-15

15375 Memorial Dr

334,147

40.80%

Woodlands

1735 Hughes Landing Blvd

331,840

100.00%

Woodlands

1725 Hughes Landing Blvd

317,052

100.00%

FM 1960/Hwy 249

4425 W Sam Houston Pky N

314,000

48.41%

Katy Freeway West

1414 Enclave

300,907

Westchase

3600 W Sam Houston Pky S

Northwest Far

5775 N Sam Houston Pky E

Northwest Far

5725 N Sam Houston Pky W

271,384

0.00%

Greenway Plaza

3801 Eastside Dr

260,437

39.62%

Katy Freeway East

700 Town & Country Blvd

254,489

0.00%

Katy Freeway West

17325 Park Row Rd

225,885

100.00%

Northwest Far

10720 W Sam Houston Pky N

206,754

0.00%

Skanska Commercial Development

Jan-15

The Woodlands Development Company

Mar-15

The Woodlands Development Company

Mar-15

Transwestern

Apr-15

0.00%

PM Realty Group

Aug-15

300,000

0.00%

PM Realty Group

Dec-14

271,384

0.00%

Radler Enterprises, Inc.

Sep-14

Radler Enterprises, Inc.

Mar-15

Midway Companies

Aug-15

Moody Rambin

Jan-15

Transwestern Liberty Property Trust

Jul-14 Jan-15

Katy Freeway East

825 Town & Country

195,842

47.71%

Midway Companies

Aug-15

Katy Freeway West

12140 Wickchester Ln

173,608

54.90%

PM Realty Group

Aug-14

Katy Freeway West

12120 Wickchester Ln

171,475

100.00%

PM Realty Group

Apr-15

Midtown

2229 San Felipe

170,038

11.66%

Woodlands

1575 Sawdust Rd

153,810

0.00%

Southwest Outlier

24275 Katy Fwy

151,187

0.00%

Katy Freeway West

16200 Park Row

150,000

25.93%

Lincoln Property Company

Jul-14

Katy Freeway West

16200 Park Row

150,000

0.00%

Lincoln Property Company

Sep-14

Hines

Jul-15

Stream Realty Partners

Aug-14

Freeway Properties

Mar-15

Katy Freeway East

9807 Katy Fwy

143,830

61.38%

Anslow Bryant Construction Ltd.

May-15

Northwest Far

5060 Westway Park Blvd

130,451

0.00%

Panattoni Development

Dec-14

Katy Freeway West

21700 Merchants Way

127,955

0.00%

Myers Crow & Saviers, LTD.

Mar-15

Southwest Outlier

2707 Commerce Center Blvd

125,000

0.00%

Vista Companies

Jun-15

Katy Freeway West

2051 S Greenhouse Rd

114,345

19.02%

Westchase

10300 Town Park Dr

106,992

100.00%

D’Agostino Companies

Oct-14

Hines

Sep-14

Post Oak Park

4444 Westheimer Rd

99,826

0.89%

Oliver McMillan

Jan-15

Katy Freeway West

Grand Pky & Franz Rd @ Katy Fort Bend Rd

86,800

0.00%

The Urban Companies

Nov-14

Galleria/Uptown

1 Blvd Pl

83,073

95.87%

Woodlands

2829 Technology Forest Blvd

81,865

1.32%

Woodlands

128 Vision Park Blvd

75,000

0.00%

Southwest Outlier

2717 Commerce Center Blvd

73,796

66.66%

Wulfe & Co. Black Forest Ventures D’Agostino Companies Vista Equities Group Inc.

Jul-14 Nov-14 Jul-14 Oct-14

Woodlands

460 Wildwood Forest Dr

64,535

22.58%

Archway Properties

Jul-14

South Main/Medical Center

1801 Binz St

52,362

65.10%

Balcor Commercial LLC

Jul-14

Southeast Outlier

7509 Broadway St

50,000

100.00%

Outlying Montgomery Cnty

32731 Egypt Ln

20,000

82.00%

26 REDNews.com

Jacob White

Nov-14

SHB Development LLC

Jun-14

Executive Ranch 20 miles from new Exxon Campus!

• Close to everything yet a • 1 mile to Grand Parkway & country setting

40 miles from Houston

• 218 Feet above sea level • 133 acres of beautiful acreage (One of the highest points with Historic 1860’s Farmhouse in Harris County) • Rare opportunity to purchase one • Country home, Excutive of the most desirable properties in the Rosehill area Ranch

Blake Hillegeist Real Estate 2813 Newman St Houston, TX 77098 Phone: (713) 526-6066 Fax: (713) 526-6097

21327 Cedar Lane, Tomball, Texas

For Sale - 10,325 SF - User or Investment Property 8616 Daffodil St., Houston - Westpark Tollway/Beltway 8 Area Owner Retiring & Ready to Sell Owner financing available to qualified buyer

• Building has 95% A/C & Heat • Located on 30,000 SF Land • Concrete Surface Parking • Wet - Sprinkler • Easy Access to Westpark Tollway & Beltway 8 • Asking Price: $899,900

Sam Houston Tollway

Richmond Avenue

8616 Daffodil St.

Dunvale Road

Westheimer Road

ay

llw Westpark To

y

w

H

59

Blake Hillegeist 832.860.6066 | blake@blakesellshouston.com REDNews.com 27

Bridging the Gap How The I-35 Corridor is Changing the Face of Texas See an enhanced version of this article, including exclusive REDNews video at www.REDNews.com/I35-Corridor

by Amanda Simonian REDNews The I-35 corridor is home to beautiful, quaint towns. The pace of life is a little bit slower, and the people are just a bit friendlier. The stretch of road between Austin and San Antonio boasts beautiful landscapes, plenty of recreational activities and is a favorite spot for folks to escape from the hustle and bustle of everyday life in the surrounding “big” cities.

The population growth in this area over the past two years has been off the charts. San Marcos was ranked as one of the fastest growing cities in the nation. Not only are people moving to the San Marcos region, but big companies are taking notice as well. Adriana Cruz, who is the President of the Greater San Marcos Partnership explains, “We are in a very strategic location. We are right between San Antonio and Austin, basically midway between the seventh and the eleventh largest cities in the country.”

Speakers at CCIM & CTCAR event in Austin “New Urbanism in Suburbia.”

From left to right Adriana Cruz, Patrick Rose and Peter French.

The Greater San Marcos Partnership has been operating for the past three years with a main focus on developing an economic strategy for the region, their main goal being to improve the economic vitality for everyone who lives in, or does business in the two-county footprint. Ms. Cruz went on to say that their efforts are not short term. “We have a five year development strategy that focuses on marketing and promotion, business recruitment, and business retention or expansion. It isn’t just one project, or one event.

It’s where public policy and business intersect.”

The amount of money being invested into the region is also staggering, but absolutely necessary. In just the past 10 years alone, Hays County built $500 million in road infrastructure. According to Patrick Rose, President and founder of Corridor Title, that number doesn’t even include bike paths or sidewalks. That is just true infrastructure designed to make all of this growth possible. The idea is to make the area accessible, and viewed as one region.

“The sooner we all get there and associate our businesses and our mindset around that, the better off we will be not only individually, but as a region,” said Rose.

Lise Wineland and Brian Allison have an intimate knowledge of the area and they say all of this activity means big opportunities for businesses to come to Texas, and specifically the San Marcos area. “There are a number of reasons we have seen such great success in these communities. In fact, the area has become a magnet for more population growth, making this region very

28 REDNews.com

attractive to businesses, bringing more jobs, and more people right along with them.”

Ms. Wineland and Mr. Allison continued by sharing that as of April 2014, the unemployment rates in Texas were 5.7%, compared to the national average of 7.1%, according to the U.S. Bureau of Statistics.

“When the numbers are added up, this region boasts an exploding economy with enviable unemployment rates. The I-35 corridor’s survival through the recession, and its thriving economy since the turn-around, is due in large part to the businesses that have remained, working in sync with the various surrounding industries to provide jobs and a wealth of services to entice both long time residents and transplants to reinvest themselves into the region,” said the pair.

There is no question that this region should be on the top of the list when continued on page 26

IN THE I-35 Corridor!

Pad Sites For Sale and/or Lease:

• NEC I-35 & Loop 4, Buda, TX - 3 Pad Sites For Sale Directly in front of 2 new hotels; next to Starbucks & credit union .....$495K - $790K • I-35 & McCarty Lane, San Marcos, TX - 3 Retail Pad Sites For Sale or Lease Stone Creek Crossing SC - .913 – 1.080 acres .............................................. Various • I-35 & Center Street, Kyle, TX 30.25 acres – Retail Pad Sites from .80 – 14.68 acres ................... $5.00 - $17.00/SF

NEW WAREHOUSES

LEASE

FOR

HOT DEVELOPMENT TRACTS

Centrally located between San Antonio and Austin 1 6 0 0 C l o v i s B a r k e r, S a n M a r c o s , Te x a s 7 8 6 6 6

• I-35 & SH 45, Round Rock, TX - 2.0 acre Pad site La Fronterra Village – Up to 2 users .................................... $125k/yr or $1.25 million

• Spaces starting at 12,000 sf • Phase I 100% Occupied

Commercial Lots for Sale

• Large loading doors both dock and grade level

• North & South sides of Schertz Parkway (fastest growing NE San Antonio area) Two miles each if I-35, Shertz, Texas 8 lots ranging from 1.092 to 2.222 acres ......................................................... Various

• Phase II 162,000 SF underway

Restaurant Building For Sale • 1121 North I-35, San Marcos, TX – In front of Springtown Mall 9,097 SF on .96 acre...............................................................................$20/SF AS IS

Bank Building For Sale • 101 Springtown Way (aka Thorpe Lane), San Marcos, TX – Just west of I-35 7,578 SF on 1.214 acres ..........................................................................$1.45 Million

Jimbo Cotton Michael McKinley 512-467-4056 512-773-6170 jimbo@matexas.com Michael@matexas.com

For more information call

Bud Turner • 512.900.7652

LEVCOR, INC. PHARR TOWN CENTER OPEN SUMMER 2015 LEASING INFORMATION

Dan Smith

713.268-3716 dsmith@levcor.com

Pharr

www.levcor.com REDNews.com 29

continued from page 24

Plum Creek

big businesses are looking to relocate. A young, educated population, business-friendly, low-tax and low-regulation climate makes it extremely attractive. Throw in the charming people that can only be found in Texas, it seems like a pretty easy decision for businesses, but where does that leave the people who already live there?

In just the past 10 years alone, Hays County built $500 million in road infrastructure.

The thing about growth, especially at such a rapid pace, is that it can be unnerving for the residents. They start seeing cranes, construction, and change so they get scared. They wonder what is happening to their beloved neighborhood. We have all seen it before; we may even be seeing it in our own backyards right now as the rest of Texas is also seeing strong economic growth. There is a difference in this region. The people who are making it happen have deep roots in the region. All of the planning and the work come from a place of wanting to see every citizen happy. They haven’t lost focus on the quality of life.

REDNews had the opportunity to see this first hand during the CCIM and CTCAR joint luncheon at the end of June. Adriana Cruz and Patrick Rose were two of the speakers, and their passion for the area was more than evident, it was contagious…and then, it went over the top.

30 REDNews.com

A gentleman by the name of Peter French came to the podium. Peter is a Social Entrepreneur whose career is very diverse. He is currently serving as the Director of Operations for a development called Plum Creek. To say that Mr. French is excited about the opportunities presented by the I-35 expansion would be an understatement.

Plum Creek is a 2,200 acre mixed-use development located in Kyle, Texas. According to their website, www.PlumCreekTX.com, Plum Creek is about being connected. Modeled after the best neighborhoods in Austin, it’s about driving less, and doing more.

As we listened to Mr. French speak, we were further drawn into this lifestyle that can only be found in places like the San Marcos region, and only with people with such passion behind it leading the charge. The developers behind Plum Creek are all about making places where people want to live: tree-lined streets, shopping and entertainment within close proximity, and even schools and medical centers nearby. It’s about the quality of life, without really messing with the way of life the hill country is uniquely known for, but truly enhancing it.

Even as this article is being written, we keep being taken back to one idea that was passed on to us by Mr. Patrick Rose-the idea (as interpreted by this REDNews writer) that San Antonio, Austin and everywhere in between can be one region a region full of promising futures for generations to come; a region where corporate businesses are thriving, bringing jobs and more opportunities for the people who live there, where anything is possible, and everything is attainable.

REDNews would like to thank Lise Wineland, CCIM, LEED® AP, and Brian Allison for their contributions to this article. Ms. Wineland and Mr. Allison are a senior director and a senior associate, respectively, with the brokerage group of global real estate investment and services company Kennedy Wilson. Based in the Austin office, Wineland is an industry expert in investments, sales and sustainable commercial real estate. Based in the San Antonio office, Allison has more than 15 years of experience in commercial real estate, specializing in industrial and land.

Greenberg & Company

THE WOODLANDS

Commercial Real Estate Brokerage Firm

Professional Offices Available for Lease Well Designed Offices

Up to 4,500 SF Available on 2nd Floor (Approx.)

High Ceilings/Hardwood Floors Reception/Guest Lobby Area (2nd Floor)

810 Waugh Drive

Great Location just West of Downtown Houston

Great Locations - Major Thoroughfare ATASCOCITA

Up to 49,372 SF of Prime Office Available

2700 Research Forest Joel Dalak 713.974.5226 jdalak@tigusa.com

3323 Richmond Ave.

5900 Memorial Dr.

Building Size: 12,300 SF NET-NET-NET NEW DEVELOPMENTS IN THE AREA

1st Floor: 4,759 SF/1,163 SF (Retail) 2nd Floor 1,958 SF/1,137 SF (Office) 3rd Floor: 1,526 SF (Office)

Subject to change or withdrawal without notice

Prime Location

Major Intersection

Contact Broker: David Greenberg - David@greenbergcompany.com Phone: 713-778-0900 Fax: 713-782-7445 5959 Richmond Ave., Houston TX 77057

HOBBY INTERNATIONAL WAREHOUSES 8301 Braniff, Houston, TX 77061

Completely Renovated in 2014

• Size - 45,034 SF • Free-Standing, Light Industrial, Warehouse/Distribution • Adjacent to Hobby Airport fence at Monroe & Telephone Rd.

$2,800,000.00 Schuyler Pulford

• 100% OCCUPIED

• NEW OFFICES & BATHROOMS

RE/MAX MEMORIAL TOWN & COUNTRY (713)-202-3779 [M] (713) 482-2234 [O]

• 1.75 ACRES

spulford@remax.net

• NEW PAVING

• 7 TENANTS

• NEW INTERIOR/EXTERIOR PAINTING

• NOI: $192,000

• NEW INSULATED ROOF • NEW LIGHTING

• NEW BACK ROD IRON ACCESS GATE • 3 BUILDINGS

REDNews.com 31

HOUSTON

COMMERCIAL BUZZ

The Business of Operating a Restaurant RAY HANKAMER Hankamer & Assoc, Broker, Houston Contributing Writer Restaurants are much in the commercial real estate news these days as the latest and greatest anchor for retail centers. But they are a mixed blessing, taking up valuable parking from shops, while at the same time generating traffic to the center.

What makes this business so tough? There are so many new restaurants opening all the time, so it couldn’t be that difficult. Think again. How many restaurants that you used to frequent are no longer here? How large is the pool of wellheeled diners that must be spread around to keep all the restaurants busy-AND profitable?

Following are some of the boxes which must be checked for a restaurant to be successful, and profitable: •• Location that is noticeable-preferably on thoroughfare with high traffic.

•• Easy, abundant parking-this is especially important for restaurants and bars where people meet each other and all come in separate cars, such as those catering to singles. Many patrons hate to pay a valet fee or valet tip to park right in front of the door.

•• Atmosphere that is right for the clientelebusiness entertaining does not work in a room that is deafeningly noisy. Is the restaurant designed to attract diners who consider dining with you to be an “occasion” where they are

ready to spend more freely than for a regular meal? Attracting these diners may be the difference between financial success and failure.

•• Lighting-while frequently done poorly or ignored altogether, ideal lighting is with pink tinted bulbs focused on the center of each table. This makes everyone look their best.

•• Furniture-high seating is best for chairs and banquettes at bars and restaurants where people mingle and meet, and eye contact at standing level is important.

•• Menu items selected to attract the appropriate clientele-if you have pitcher beer on the menu, for example, that can be a signal to bikers. Do you want their Harleys parked outside, and the bikers mixing with your other clientele?

•• Ethnicity of clientele-this is determined more by the live entertainment you hire than by your menu items. You may attract low-spending clients who drive away your high-spending ones.

•• Menu focus-does the restaurant have dishes with low cost ingredients such as Mexican, Indian, Vietnamese, Italian, and pizza, or dishes with high cost ingredients such as steak and seafood?

•• What is on the menu and its pricing determine the profit margin for the owner.

•• Liquor sales-do abundant sales of wine, beer, and cocktails neatly dovetail with your restaurant’s atmosphere and menu? If not, you will probably not be able to survive selling mostly food.

•• Owner people skills-are you equally good welcoming and connecting with your highincome guests, while at the same time training employees with low education levels who do not speak English, but who must interface with your guests all through their dining experience?

•• Owner culinary skills-are you able to enforce consistency (and exercise portion- and costcontrol) in the recipes being prepared in the back of the house while you are out in the front of the house meeting and greeting diners?

•• Owner chef-management skills-can you afford the remuneration by way of recognition and money required to keep your “celebrity chef” on board, and working long, hard hours?

•• Regular return diners-they are essential to the survival of your restaurant. Can you attract them away from their current favorite spot and keep them happy with yours?

The above are just some of the challenges facing the restaurateur. To read more about restaurants as successful CRE endeavors please go to http://www.rednews.com/ray_hankamer

The History of Master-Planned Communities Toll Brothers speaks at the August CREAM Luncheon

by Jim Wilkie, CCIM Senior V.P., Seacoast Commerce Bank The monthly Montgomery County CREAM meeting at the Woodlands featured local AVP of Toll Brothers, David Assid, presenting a lively and informative discussion about the history of Master Planned Communities (MPC).

This concept was brought across the pond by Robert Simon in 1961 with the development of his MPC in Reston, VA. Shortly thereafter, in 1964, George Mitchell started acquiring land in Montgomery County, TX.

added “vertical” MPCs in the Burroughs of NYC. In the Houston area, they are currently working on Woodson’s Reserve which abuts The Woodlands.

David put together some numbers on the net economic effect to the area of an MPC like WoodThe Woodlands became a reality in the mid-70s. son’s Reserve. Basing the numbers on research The Mall was added in 1994. It is reported that done by the National Assoc of Home Builders, the 40% of the top twenty MPCs in the country are in 5 year economic benefit of a 1,000 unit MPC is Greater Houston. expected to top $300,000,000. That includes deJim Wilkie Garden Cities, devel- Toll Brothers was started in 1967 and has been velopment costs, construction costs, ripple jobs oped after WWII near an active developer of MPCs since their first in and local sales, tax benefit, and ongoing payrolls.

London, were the forerunners of the modern 1994 – Blue Bell CC in Montgomery County, PA. th MPC. These were designed to be totally self- They have completed about 21, have 34 in vari- The next CREAM luncheon is on September 8 . sufficient communities down to the growing and ous stages of development and are in the plan- Confirm early. Seating is limited. You can check ning process with 28 more. They have recently us out at www.creamtx.com. raising of needed food stocks.

32 REDNews.com

LAND/CHURCHES FOR SALE

Offering Properties & Hotel Consulting

Kainos Community Church

19946 Saums Rd., Katy, TX. - 22,775 SF............................................... $975,000

Laura Koppe Church of Christ

PROPERTIES AVAILABLE • Commercial/Industrial Sites - Pecos, TX (Permian Basin) • 13,250 SF Warehouse - Gilchrist/Bolivar, TX • Hotel, Condo, Retail Site - Cruise Terminal - Galveston, TX • Freeway Sites - I-20 - Monahans, TX • 30 Acres Commercial/Rail Serviced - Tomball, TX • 12 Acres Residential/Commercial - I-45 - Huntsville, TX • Hotel Site - HWY 281 - Edinburg, TX • Hotels - Statewide

Contact: Ray Hankamer

HANKAMER & ASSOCIATES BROKERS, L.L.C.

Hospitality Consulting Services

Brokers: Ray Hankamer, Jr. rhankamer@hankamer.com Pablo Szub szub@mail.com

40 Years Experience As Services Jamie Irvine Hospitality Consulting Developer, Owner & Operator

40 Years Experience As Developer | Owner | Operator

jirvine@hankamer.com

(713) 789-7060 • www.hankamer.com

H &

6601 Laura Koppe Rd. - 5,200 SF......................................................... $175,000

Pasadena Church

4444 Vista Rd. - 46,000 SF.................................................................... $950,000

+/- 13 Acres

Beechnut @ Rustling Leaves.........................................$6.25/PSF or $3,539,250

New Beginnings Family Church

6303 Bramley, Pasadena, TX - 8,240 SF.............................................. $499,900

Eastex Church

11255 Eastex Frwy - 15,500 SF............................................................ $950,000

Miracle Life Church International

9930 Aldine Westfield - 3,200 SF.......................................................... $259,900

LEASE SPACE - St Paul Presbyterian Church

7200 Bellaire Blvd. - 5,600 SF............................................................ $5,000/mo.

Multi-Purpose Facility w/housing

15402 Sellers Rd. - 7,000 SF...........................................SOLD..............$225,000

B

NW Houston Church

10225 Woodedge - 20,000 SF...........................SALE PENDING.......... $1,100,000

International Church Realty (713) 541-4005

www.internationalchurchrealty.com

3) 789-7060 www.hankamer.com

TEXAS ICSC

Conference and Deal Making november 12 – 14, 2014 Kay Bailey Hutchison convention center (formerly dallas convention center)

dallas, tX #texconf

Conference Highlights: H H

H

ICSC’s 5th largest Deal Making Conference Make deals and network with over 3,000 retailers, owners, developers, brokers and municipalities Meet over 80 of the hottest retailers at the Retailer Roundup

For more inFormation and registration visit www.icsc.org/2014tX

REDNews.com 33

EPA Adopts New ASTM Standard Environmental Risk Alert: risks!

Confused?

Don’t take unnecessary As of December 30,Environmental 2013, the Environmental Protection Risk Alert: Adopts New ASTM Standard AgencyEPA (EPA) approved the new Phase I Environmental Site We can help you!

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Agency (EPA) approved new Phase IIEnvironmental Site Agency (EPA) approved thethe new Phase I Environmental Site Agency (EPA) approved the new Phase Environmental Site Assessment (ESA) ASTM E 1527-13 standard for All Assessment (ESA) ASTM E 1527-13 standard All (ESA) ASTM E 1527-13 standard All Phase Assessment Engineering’s Phase I reports comply withfor thefor EPA’s Appropriate Inquiries (AAI) Landowner Liability Protections.

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EVENTS • NETWORKING • DEALS • ANNOUNCEMENTS

What’s Happening in CRE Texas The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to REDNews.com. We update CRE news and events daily!

Central / South Texas

Austin | San Antonio | Rio Grande Valley

Calendar of Events Sunday

Monday 1

7

8

Tuesday

Wednesday

2

9

Thursday

Friday

Saturday

3

4

5

6

CCIM Networking Luncheon & Presentation 11:30 am – 1:00 pm

CCIM Charity Golf Tournament 11:00 am – 5:00 pm

CTCAR Texas Realtors Conference 7:30 am – 2:00 pm

CTCAR Texas Realtors Conference 8:00 am – 3:00 pm

10

11

12

13

IREM Austin Monthly Luncheon 11:30 am – 1:00 pm

CTCAR Property Information Exchange 7:30 am – 9:00 am

IREM San Antonio Redneck Bowl 2:15 pm – 5:00 pm

CREW San Antonio CREW-tini Mix Off 6:00 pm – 9:00 pm

14

15

17

16

21

22

18 IREM Austin Ethics for the Real Estate Manager 8:00 am – 5:00 pm

BOMA Austin Community Service/ RMHC Volunteer 10:30 am – 1:00 pm CREW Austin New Member Orientation 11:00 am – 11:30 am CREW Austin Networking Luncheon & Presentation 11:30 am – 1:00 pm

24

23

28

29

20

26

27

BOMA Austin Membership Luncheon 11:30 am – 1:00 pm REC Austin Charity Golf Classic 12:00 pm – 6:00 pm

25

REC Austin Ideas Forum 11:15 am – 1:00 pm ULI Austin September Breakfast/Capital Markets 7:30 am – 9:00 am BOMA San Antonio Monthly Luncheon 11:30 am – 1:15 pm

19

CTCAR Networking Luncheon “Transportation Development” 11:30 am – 1:00 pm ULI Austin 2014 Texas Council Forum 8:00 am – 5:00 pm

30 CREW Network Convention & Marketplace (All Day) ULI Austin A Conversation with Reconnect Austin 5:30 pm – 7:30 pm

September 2014

Commercial Organization Contacts - Dallas | Fort Worth Austin BOMA................................................................................. www.bomaaustin.org CBA Austin............................................................................www.cbaaustin.com CCIM..................................................................................... www.ccimtexas.com CREW..................................................................................www.crewaustin.com CTCAR................................................................................. www.ctcaronline.com IREM.................................................................................... www.iremaustin.org RECA................................................................................... www.recaonline.com ULI......................................................................................... www.austin.uli.org

36 REDNews.com

ULI Austin 2014 Texas Council Forum 8:00 am – 5:00 pm

San Antonio BOMA San Antonio......................................................www.bomasanantonio.org CCIM .........................................www.chapters.ccim.com/sanantoniosouthtexas CREW..........................................................................www.crew-sanantonio.org IREM.............................................................................www.iremsanantonio.org IREP........................................................................................... www.irepsa.com RECSA.............................................................................www.recsanantonio.com SABOR......................................................................................... www.sabor.com SIOR (South Texas Chapter)............................................................ www.sior.com

For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com CREW San Antonio Luncheon

Beverly Fortner, John Vickerman, Carolyn Fletcher, and Marilyn Hartmann

CREW Members Laura Gilliland, Brenda Davila, Brandey Orsag, Cherie Short, and Susie Wallis

Rob Burlingame, CCIM President and Susie Wallis, CREW President

CCIM & CTCAR Luncheon

Cody Condron, Beth Holman

Networking before the luncheon.

Lise Wineland, CCIM and Eric Layne, CCIM

Attendees at the luncheon.

Caroline Pavlinik and Kelly Conway

Paul Ott and Bob Rein, CCIM

Eric Layne, CCIM and Brett Arabie

REDNews.com 37

North Texas Calendar of Events Sunday

Monday 1

Dallas | For t Wor th

2014 Sponsorship Packages now available!

Is your company looking for exposure and recognition in the commercial real estate industry?

commercial real estate women

SPONSORSHIP OPPORTUNITIES START AT $750.

Tuesday

Visit the CREW-Dallas.org website for more information or call the CREW office at 214.890.6490

2

Wednesday 3

4 CREW Fort Worth Chisholm Trail Ranch Development Plans with Steve Saxton 11:30 am – 1:00 pm

7

14

8

9

15

10

BOMA Dallas Boilers, Heating Systems, and Applied Mathematics 5:00 PM – 8:00 PM

CREW Dallas Outstanding Achievement Award Dinner 6:00 pm – 8:30 pm

BOMA Fort Worth Monthly Luncheon 11:30 am – 1:00 pm

IREM Dallas Luncheon 11:00 am – 1:00 pm

16

Thursday

17

Friday 5

REC Greater Fort Worth Education Summit 7:30 am – 10:00 am ULI North Texas Breakfast Hot Topics in Housing Development 7:30 am – 9:00 am

Saturday

BOMA Dallas Design, Operations & Maintenance of Building Systems, Part 1 9:00 am – 4:00 pm

11

12

13

18

19

20

NTCAR Young Professionals 3rd Quarter Event 5:30 pm – 7:30 pm

NTCAR YPF Philanthropy: BocceBall 7:30 am – 4:30 pm

BOMA Dallas BOMA Dallas BOMA Fort Worth Engineer Lunch & Learn Luncheon Education Seminar Fall Event: It’s Like Totally the 80s 11:30 am – 1:00 PM 5:30 pm – 9:00 pm 8:00 am – 11:00 am CCIM North Texas NAIOP North Texas BOMA Dallas Midyear Market Panel Review Breakfast How the Pension Luncheon Luncheon 11:30 pm – 1:00 pm Money Thinks Today 11:30 am – 1:00 pm CREW Fort Worth 7:00 am – 9:00 am Roaring 20s Casino Night NTCAR NTCAR 6:30 pm – 9:00 pm MCE: Principles of Real Estate MCE: Principles of Real Estate NTCAR Development + Legal Ethics (Part 1) Development + Legal Ethics (Part 2) 3rd Quarter Membership Meeting 8:00 am – 5:00 pm 8:00 am – 3:30 pm 7:30 am – 9:00 am

21

22

23

24

IREM Dallas 19th Annual Golf Tournament 7:00 am Registration

28

29

25

26

REC Greater Fort Worth 2014 Panther City Dodgeball Tournament 5:00 pm – 8:00 pm

IREM Dallas Past Presidents Appreciation Luncheon 11:30 am (Invitation Only)

27

30 CREW Network 2014 Convention & Marketplace (Miami, FL)

September 2014

Commercial Organization Contacts - Dallas | Fort Worth BOMA Dallas....................www.bomadallas.org

IREM Dallas .....................www.irem-dallas.org

TREC................................... www.recouncil.com

BOMA Fort Worth...... www.bomafortworth.org

NAIOP.....................www.northtexasnaiop.com

ULI...............................www.northtexas.uli.org

CCIM..................................... www.NTCCIM.com

NTCAR........................................ www.ntcar.org

CREW Dallas.....................www.crew-dallas.org

SCR........................................... www.scr-fw.org

CREW Fort Worth....................www.fwcrew.org

SIOR............................................www.sior.com

GFWREC.................................www.gfwrec.com

SW Corenet ........www.southwest.corenetglobal.org

38 REDNews.com

6

For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com CREW Dallas luncheon

Hillary Lau, Christine Perez, Betsey Price, Michelle Hudson, Rhett Taylor, Amber Terrell

Lisa Novotny Price, Janice Peters, Betsey Price

CCIM Class 101 Instructors of this course were Mac McClure, CCIM and Susan McClure, CCIM

43 students in attendance.

Lots of learning going on.

CCIM 101 Class Happy Hour at The Flying Saucer

Chris Mims, Aarica Mims, with two other North Texas CCIM Members

Collin Flynn,CCIM, Debi Carter, CCIM, Ralph Bullard and Clifford Bogart, CCIM

REDNews.com 39

To find a CPM® in your area, visit www.irem-dallas.org

Southeast Texas Calendar of Events Sunday

Networking

Monday

Educat ion

Technology

CCIM Course Scholarships

Tuesday

1

Houston and Vicinity |

Wednesday

Thursday

CI 101, CI 102, CI 103, CI 104 or CCR & Exam 3 4

2

Friday

9

C.R.E.A.M. Luncheon, Speaker: Keith Simon, Coventry Dvelopment Group and Robert Fields of Patrinely Group 11:00 am – 1:00 pm

14

15

10

BOMA Houston Monthly Luncheon with Paul Bettencourt Talkin’ Taxes with the Taxman 11:30 am – 1:30 pm Greater Houston Partnership Tower Conference 2014 9:00 am – 3:30 pm SIOR Luncheon 11:30 am – 1:00 pm

16 FBSCR Monthly Meeting 8:00 am – 9:00 am IREM MKL 406 2-Day Course 8:30 am – 5:00 pm

21

22

23

CREW Sponsor Appreciation Reception 5:00 pm – 7:00 pm

28

29

CRE Houston/Gulf Coast Fall Luncheon 11:30 am – 1:00 pm Greater Houston Partnership Member Networking Social 5:30 pm – 7:30 pm

17 Houston CoreNet Emerging Leaders Fall Event 5:30 pm – 8:30 pm IREM MKL 406 2-Day Course 8:30 am – 5:00 pm

24

11

12

18

19

CCIM Houston Monthly Luncheon 11:30 am – 1:00 pm ULI Houston 4th Annual Sporting Clays Scholarship Classic 12:00 pm – 6:30 pm

BACREN Monthly Luncheon Speaker Barbara Cutsinger 10:30 am – 1:00 pm HRBC Monthly Meeting 7:00 am – 8:30 am IREM HRS 402 2-Day Course 8:00 am – 5:00 pm

25

13

www.iremaustin.org • 512-301-3

20

CREN Breakfast Marketing Session 7:15 am – 9:00 am Greater Houston Partnership Luncheon State of Transportaion in Texas 11:30 am – 1:30 pm IREM HRS 402 2-Day Course 8:00 am – 5:00 pm

26

27

30

September 2014

Commercial Organization Contacts - Houston and Vicinity | Galveston

40 REDNews.com

7:00 pm – 2:00 am

September 10th, 2013, 8:00am – 5:0 For more information and registrati visit iremaustin.org

Houston CoreNET IREM ACRP Breakfast September Meeting Leadership Seminar 7:00 am – 8:30 am Getting Around: Houston’s 8:30 am – 11:00 am CREN Mobility Crisis Happy Hour IREM 7:30 am – 9:30 am 5:30 pm – 8:00 pm Luncheon: Celebrating Women Greater Houston Partnership Greater Houston Partnership in the Workplace Cybersecurity Forum HYPE Thought Leader Breakfast 11:30 am – 1:00 pm 8:30 am – 11:00 am 7:30 am – 9:00 am

BOMA Houston BOMA Houston HP RPA/FMA Course HP RPA/FMA Course High Performance Sustainable High Performance Sustainable Building Principles Building Principles 8:00 am – 5:00 pm 8:00 am – 5:00 pm

ACRP...................................................www.acrp.org BACREN........................................www.bacren.com BOMA.................................www.houstonboma.org CCIM ....................................www.ccimhouston.org CoreNet................www.houston.corenetglobal.org CREAM........................................www.creamtx.com CRE.......................................................www.cre.org CREN..................................www.crengulfcoast.com

Greater Houston ETH800-Ethics forPartnership the Real Estate M Soiree & Afterparty

CREN Luncheon 11:00 am – 1:00 pm

with Dana Telsey Contact Ginger Coleman at 713.783.0297 11:30 am – 1:00 pm /www.ccimhouston.org or ginger@amchouston.com

8

Saturday

IREM6 AUSTIN PRESEN

5

CREW to Luncheon Available current Houston/Gulf Coast The Changing RetailChapter Landscape Members CCIM

7

A CP z De z Ple Galveston sta z Pro

CREW................................... www.crewhouston.org FBSCR...............................................www.fbscr.com Greater Houston Partnership......www.houston.org HOLBA............................................. www.holba.org HRBC..................................www.houstonrealty.org IREM.....................................www.iremhouston.org NAIOP.................................www.naiophouston.org O’Connor & Associates.............www.poconnor.com

HREC................ www.houstonrealestatecouncil.org SIOR......................................www.siorhouston.com ULI..........................................www.houston.uli.org For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

Email your events to: Chris@REDNews.com Event dates are based on each organization’s typical monthly schedule which is subject to change. Please verify each event with the related organization.

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to info@REDNews.com C.R.E.A.M. August Networking Luncheon

Cody Christoph, CST Brands; Pat Moritz, Houston International Realty; and Robert C. Watson, R. C. Watson Real Estate

Gwen Reilly, First Continental Title and Jim Garrity, Garrity Commercial Real Estate

CREN Luncheon

Lance Langenhaven, 1st VP CREAM; Robert C. Watson, 2nd VP CREAM; Karyn Jackson-Stephens, Pres. CREAM; Alina Rader and David Assid of Toll Brothers

David Assid of Toll Brothers presenting.

Linda Stephens, Integrity Bank and Russell Simmons, Texas Area Properties. Linda receiving “thank you” for chairing the CREN sporting clay tournament.

IREM Houston Prime Time Bowl-A-Thon

“The Mary Anns” (top left, clockwise) La Nee Evans, CBRE, Cindy Davis, Always In Season, Mallory Garrison, Always In Season, Natalie Juarbe, CBRE.

“BMS Ninja Turtles” (left to right) Patty Phillips, CPM, Brittany James, Christy Cobb, and Vanessa Dyer all with BMS Management.

(left to right) Kaci Hancock, ACoM with Wulfe & Co., Janie Snider, CPM with Griffin Partners, Kerra Turner with Aeroterm.

CCIM Luncheon

Jordan Monroe, Armando Ruiz

Chris Bezdek, Ruben Maldonado, Josh Martinez

Bud Friedman, CCIM, Amanda Carrington

It’s a full house at the CCIM luncheon!

REDNews.com 41

ANNOUNCEMENTS & DEALS DONE

CENTRAL/SOUTH TEXAS

(AUSTIN/SAN ANTONIO AREAS)

ANNOUNCEMENTS

is valued at almost $28.8 million. HFF LP handled the transaction on behalf of Endeavor.

Michele Gary will join Adam Zimel — both had a long and successful history with The Weitzman Group — at the Austinbased brokerage and development company.

Kyle Hemminger joined Lancaster Pollard as vice president of the Austin office. Hemminger will Michele Gary oversee senior living providers and health care project financings for clients in Central and West Texas, including Austin, Dallas, Fort Worth, and El Paso.

represented the Landlord.

Kyle Hemminger

Former quarterback and captain of the University of Texas Longhorn football team Case McCoy has joined HPI Corporate Services in Austin as a tenant broker specialist.

Austin (LEASE) CBRE has announced GateHouse Media, one of the largest publishers of newspapers in the country, has signed an 18,700-square-foot lease at Northview Business Center (9001 North Interstate Highway 35) in Austin, Texas for its new Center for News & Design. The Center opened in a temporary facility in May 2014 and will move into a permanent facility in late 2014 in the same office park. W. Gaines Bagby, with CBRE’s Austin office, represented Gatehouse. CBRE’s Project Management team is guiding the design service selection and construction process for GateHouse Media’s new office. Luke Wheeler and Will Stewart, with Transwestern, represented the landlord.

RETAIL

Case McCoy

LAND Dripping Springs (SALE) Taylor Morrison Home Corp. (NYSE: TMHC) purchased 100 acres for another new home community within the city limits of Dripping Springs.

Bruce and John Endendyk of Case Commercial Real Estate Partners handled the transaction.

Killeen (SALE) Gander Mountain Sports has purchased 6.6 acres of land at Athlens and East Central Texas Expressway, Killeen. Charlie Roof of Retail Solutions represented the seller and Daniel Taylor of CBRE represented the buyer.

MULTI-FAMILY San Antonio (SALE) Falkin Platnick Realty Group Inc. (FPRG) and RZI Bella Madera LLC have acquired a 328-unit Class-A apartment community near the South Texas Medical Center. The seller was a Harbor Group International affiliate. FPRG will manage the property and oversee a capital improvement program to enhance the property. About $400,000 in upgrades are planned.

San Antonio (DEVELOPMENT) A new luxury apartment community has broken ground. Aura at the Rim is being built by Dallas-based developer Trinsic Residential Group LLC. The residential project stands four stories tall and encompasses 308 units.

OFFICE Austin (DEVELOPMENT) Los Angelesbased investor, Karlin Real Estate is a formidable presence in Austin as it breaks ground on the first element of a $1 billion multi-use development in North Austin.

The first element under construction is Parmer 3.2, a 192,000-square-foot Class A office building near McCallen Pass on the west side of the development. Karlin will own the Parmer project and Trammell Crow will be the master developer. Mark Emerick and John Barksdale of CBRE Group, Inc. are handling the marketing for the development.

Austin (SALE) New York-based Clarion Partners continues to invest heavily in Austin with the purchase of Plaza on the Lake from Austin-based Endeavor Real Estate Group. Financial details were not disclosed, but the property, which was built in 1987,

42 REDNews.com

Austin (Lease) Outbound Engine, Inc. leased 11,199 SF of office space located at 504 Lavaca St. in Austin.

The space will house the company’s headquarters.

Russell Young and Todd Gilfillan with CBRE Austin represented the tenant. Jason Steinberg with ECR

San Antonio (SALE) 7744 Building, LLC purchased a 16,342 square foot office building. Marshall Davidson and Travis Wright of KMD Studley represented the buyer and Shawn Gulley of RL Worth % Associates represented the seller.

JLL’s capital markets group recently added Scott Lamontagne to shore up the firm’s multifamily investment sales platform in the burgeoning central Texas region.

Scott Lamontagne

Log on to REDNews.com for daily updates

Austin (SALE) CBRE’s National Retail Investment Group announced the sale of Boardwalk Shopping Center in Round Rock, Texas, on behalf of Greenwood Village, Colorado-based Madison Capital Management. A private real estate fund advised by Crow Holdings Capital-Real Estate (CHC-RE) based in Dallas, Texas, purchased the super-regional power center for an undisclosed price. Chris Cozby, Chris Gerard and Kevin Holland, with CBRE, listed the asset in September 2013, on behalf of the seller. The buyer closed on the center on July 16, 2014.

Manor (SALE) Hunington Properties, Inc. a full service commercial brokerage company has announced the sale of the Shops at Shadow Glen, a 15,438 square foot shopping center in Manor, TX. The project is located at the northwest corner of the intersection of Shadow Glen Blvd. and Highway 290 on approximately 2.5 acres. Edward A. Benton and Huninton Properties, Inc. Aron had the exclusive listing to sell the property for a Houston developer. The buyer was a local investor from Austin, TX. Hunington Properties, Inc. will continue to manage and lease the property.

Round Rock (SALE) A private real estate fund advised by Crow Holdings Capital Real Estate in Dallas recently purchased a retail power center in Round Rock from Madison Capital Management of Greenwood Village, Colorado.

The price was not disclosed but the Williamson Central Appraisal District values the land and improvements at about $23.7 million. CBRE’s National Retail Investment Group was retained to handle the listing. Brokers included Chris Cozby and Chris Gerard in Dallas and Kevin Holland in Houston.

Odessa (LEASE) Clay Mote of Dallas-based Venture Commercial Real Estate announced the lease of an 18,000-square-foot store in the Chimney Rock Shopping Center located on the northeast corner of Loop 338 and Highway 191, where Northern Tool will join other tenants Academy Sports+Outdoors, Best Buy, Marshalls and Jo-Ann Fabric & Crafts. Trip Green of the Woodmont Group represented the landlord.

San Antonio (SALE) CBRE’s National Retail Investment Group announced the sale of Potranco Village Shopping Center in San Antonio to an anonymous buyer.

Texas-based Barshop & Oles Company sold the asset for an undisclosed price. It has approximately 18,000 square feet and is 100% occupied by many national retail and restaurant brands, including Pei Wei Asian Diner, Wingstop and GNC. Taco Cabana, Whataburger, Starbucks and Broadway Bank have ground leases, and Academy Sports + Outdoors shadow anchors the property. Barshop & Oles Company will continue to lease and manage the asset for the new owner. Chris Cozby, Chris Gerard and Kevin Holland, with CBRE, represented the seller in an off-market transaction.

NORTH TEXAS

ANNOUNCEMENTS & DEALS DONE (DALLAS/FT. WORTH AREAS)

ANNOUNCEMENTS

Log on to REDNews.com for daily updates

INSTITUTIONAL

CBRE Group, Inc. announces that Chad Ricks has joined CBRE Capital Markets’ Debt & Structured Finance team as Senior Vice President. Based in Dallas, Mr. Ricks will originate multifamily and healthcare loans with a particular focus on FHA-insured debt.

Sperry Van Ness / Visions Commercial welcomes Rickey Wilson, CPA, as accounting manager. Wilson is in charge of annual budgeting, Chad Ricks year-end reporting, financial review, payroll and human resources for not only Sperry Van Ness / Visions Commercial, but also its two sister companies, Visions Realty & Investments and Frontline Property Management. In addition, he works with the management team on business strategy and financial planning. Rickey Wilson Emmitt Smith, cofounder of ESmith Realty Partners, and his wife Pat Smith were honored in Washington, D.C. as recipients of the 2014 Congressional Horizon Award for excellence in community service. The pair was recognized for their contributions to youth through Pat & Emmitt Smith Charities, a public charity that creates and funds unique educational experiences and enrichment opportunities for underserved children.

Phil Rosenfeld of Colliers, Eliza Solender of Solender Hall, Heather Lourcey of The Westwood School, Matt Thompson of Colliers

LAND

Dallas (SALE) Colliers International and Solender/Hall, Inc. helped The Westwood School secure an approximately 75,000-squarefoot building at 12400 Ford Road in Farmers Branch, a location that will consolidate the two campuses into one, nearly doubling the size. Phil Rosenfeld and Matt Thompson of Colliers International collaborated with their Colliers Dallas colleagues, Allen Gump and Allyson Gump, recently to represent the Landlord of 12400 Ford Road in a new lease.

Eliza Solender and Gary Scott of Solender/ Hall Inc. represented The Westwood School in this transaction.

Dallas (SALE) The Texas A&M University System is under contract to sell 163 acres to Dallas-based Centurion American Development. The farmland is north of Campbell Rd. on Coit Rd. on the city’s north side. The deal is scheduled to close Sept. 1. According to the city’s planning and zoning department, Centurion’s proposed plan for the acreage includes 720 single-family homes and 180 townhomes.

Dallas (SALE) Rafael A. Alfaro purchased a 7.278 acre tract of land located at 4028-4128 Finch & 4029-4145 Love Bird Lane in Dallas from Angelina Partners, LLC. Michelle Hudson, SIOR, CCIM with Hudson Peters Commercial represented the Seller.

OFFICE

Emmitt Smith

Euless (SALE) Bardin Square Investors Ltd., a single-entity partnership of SkyWalker Property Partners, has sold an 11,622-sf medical office building on one acre at 310 S. Industrial Blvd., Euless, TX, to HBR Real Estate LLC. Amber Wimberly of KW Commercial/Noble Crest Property Group LLC represented the seller. Larry Dillon of Champions DFW Commercial represented the buyer.

Colliers International North Texas announces commercial real estate veteran, Bo Estes, has joined the team. Estes brings over 35 years of experience specializing in office tenant representation and corporate services in both the Dallas/ Fort Worth market and across the country.

Bo Estes

INDUSTRIAL Dallas (SALE) Mercer Co. announced the sale of 10,276 square feet of industrial space. Matt Spellman of Mercer Company represented the seller; Escalade Ventures, and Jeremy Steenerson from Fore Commercial represented the buyer, Trillium Construction.

Dallas (FINANCING) HFF announced that it has secured $175 million in financing for a seven-property, 4.99 million-square-foot industrial portfolio located in California, Texas and Mississippi. HFF worked exclusively on behalf of the borrower, a fund managed by Clarion Partners, to secure a fixed-rate loan through TIAA-CREF. Loan proceeds were used to retire existing debt on the portfolio. The seven-property portfolio includes two assets in San Bernardino, California; four in the Dallas, Texas metropolitan area; and one in Southaven, Mississippi. Constructed between 2001 and 2005, the portfolio is 94.1 percent leased overall. The HFF team representing the borrower was led by senior managing director John Rose.

Dallas (DEVELOPMENT) Crow Holdings Capital Partners, LLC announce the development of Mountain Creek, a new industrial park situated along Interstate 20 & Grady Niblo Road in Dallas. Located within the South Dallas submarket, the 87-acre development will include two buildings totaling 1.3 million square feet of new distribution and warehouse space. Kacy Jones, Steve Koldyke and Wilson Brown, with CBRE’s Dallas office, have the exclusive leasing assignment for Mountain Creek. Crow Holdings Capital Partners has hired McFadden & Miller as contractor, and Azimuth Architecture as architect.

Rockwall (SALE) A local investment group purchased a 6,980 SF medical office located in the Heritage Medical Office at 6617 Heritage Parkway, Rockwall from QMP at Lake Point Properties, LP. Michelle Hudson, SIOR, CCIM with Hudson Peters Commercial represented the Buyer. Chase Bryant represented the Seller.

Dallas (SALE) Capital Commercial Investments Inc. of Austin has bought Two Hickory Centre, an office building in Farmers Branch, Texas, just north of Dallas. The 97,117-square-foot office building at 1750 Valley View Lane is about 40 percent occupied, with tenants including Beazer Homes, Border Foods and Bartlett Cocke.

CBRE’s Shannon Brown, Michael Dudley and Ben Davis represented the seller, Los Angeles-based Cathay Bank, in the deal.

DALLAS (SALE) Miami-based Parmenter Realty Partners finalized the sale of a threebuilding Dallas office portfolio it has owned since 2006, selling Park Central 7-8-9 to institutional investor PIMCO for an undisclosed amount. Each of the buildings are LEED Gold certified EBOM as of May 2011. The complex is also the recipient of the 2009-2010 International Toby Award in the Renovated Building category, is Energy Star certified and has BOMA 360 Performance Program designation.

RETAIL Dallas ( SALE) The NAI Robert Lynn Retail Division recently closed the sale of a 148,272-square-foot Emerald Square shopping center, located at 2985 S. Hwy 360 in Grand Prairie, Texas. Mike Smith of the NAI Robert Lynn Retail Division represented TriMarsh Properties, which has big plans for redevelopment.

Plano (SALE) The Woodmont Company has completed the sale of a newly constructed 14,550-square-foot single-tenant retail property fully occupied by Walgreens.

Brad Cruickshank and Randy Bell of The Woodmont Company represented the seller in the transaction, Plano Spring Creek Partners from Fort Worth. The buyer, a California-based private investor, was represented by Patrick McCaughey and Ted Gallagher of Cassidy Turley / Terranomics.

Dallas (LEASE) Factory of Dreams Event Center has leased 7,500 SF at Moon Plaza, 11635 Harry Hines. Erin Bonner negotiated the lease with Larry Robbins of Capstone Commercial.

REDNews.com 43

ANNOUNCEMENTS & DEALS DONE

SOUTHEAST TEXAS

(HOUSTON AREA)

ANNOUNCEMENTS

MULTI-FAMILY

Sugar Land City Manager Allen Bogard recently selected Jennifer May to serve as director of economic development.

May was appointed to the position on an interim basis in April when Regina Morales resigned to pursue new opportunities.

Jennifer May

Log on to REDNews.com for daily updates

Caldwell Brokerage Company (CBC) announced that Nick Limperos has joined the company as Vice President with the industrial brokerage team in the Houston office.

Mr. Limperos brings over 25 years of industry experience to the company. His primary role will be to specialize in the sales and leasing of industrial, land and investment properties throughout Houston.

Houston (SALE) Marcus & Millichap announced the sale of Tara Oaks, a 126 unit apartment property located in Houston. The asset had a list price of $3,980,000. Clint Roberts, an Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a local investor. Roberts secured the buyer, a foreign national investor, in less than two weeks of marketing the property.

Tara Oaks is located at 3800 Sherwood Lane in Houston, TX. Houston (SALE) A joint venture between BRT Realty Trust, a New York-based REIT, and Elco Holdings, Ltd., a national developer based in Israel, acquired the 272-unit Landmark at Kendall Manor community in Houston from Commerce Capital Partners for $15.3 million, or about $56,250 per unit.

Nick Limperos

Cushman & Wakefield hired Dan Healy as director of project management, while Allison Hall will serve as an associate for industrial and land brokerage services team.

Dan Healy and Allison Hall

INDUSTRIAL Houston (SALE) Marcus & Millichap announced the sale of 13310 Fondren, a 9,000 square foot industrial property located in Houston, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichap’s Houston office. The buyer, a limited liability company, was secured and represented by Watt Harrison, an Associate in Marcus & Millichap’s Houston office.

CORRECTION: Houston (SALE) REDNews printed the incorrect photo in relation to the sale of the Mitchelldale Business Park in the August 2014 issue.

Houston-based REIT Hartman Short Term Income Properties XX purchased the Mitchelldale Business Park at 51515401 Mitchelldale St. in Houston, TX from Falcon Southwest for an undisclosed price. Rusty Tamlyn and Trent Agnew of HFF represented the seller, while Julian Kwok, Dave Wheeler and Russell Turman represented Hartman in-house.

Rosenberg (SALE) Marcus & Millichap announced the sale of Victoria Garden, a 232 unit apartment property located in Rosenberg, TX. The asset had a list price of $6,625,000. Juan Cuevas, a Senior Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership.

The buyer, a limited liability company, was also secured and represented by Cuevas.

OFFICE Houston (PURCHASE) The building located at 5100 Westheimer a/k/a HALBOUTY CENTER was built by Gerald Hines in 1973 on property leased by Hines for a 99 year period. The current owners, represented by Joe. E. Evans and Janae Evans, purchased the Halbouty Center building and assumed the lease in 1991. Joe and Janae Evans of Evtex Companies have announced the successful purchase of the underlying fee title to the property from the original land owner. Joe stated that he has been negotiating with the land owner for over 20 years to aquire the fee title to this strategic high profile site in the heart of the Galleria. The purchase price paid for the fee title was not disclosed.

Houston (SALE) Tarantino Properties announced the sale of The Center in Houston, TX. The three (3) building office campus is 377,126 NRA and located at 8303, 8313, 8323 Southwest Freeway. Anthony Tarantino, President, and Peggy Rougeou, Director of Commercial Leasing, for Tarantino Properties represented the seller. Logan Brown, of Logan Brown Investment Real Estate, represented the Buyer.

Houston (SALE) Newport Beach, CA-based KBS REIT II sold its 455,476-square-foot office complex at 580 Westlake Park Blvd. in Houston, TX to Hicks Ventures for $120 million, or roughly $264 per square foot. Daniel Miller and Trent Agnew of HFF represented KBS REIT II in negotiations.

Houston (SALE) Kadez, Inc sold 2.09 acres to Texas Childcare Fund to develop an approximately 11,000 square feet Daycare/Academy of early learning facility (The Learning Experience). The development will be located at Eldridge Parkway & Wickersham at Westheimer. Nabil Murad, of NM Management, LLC represented the Seller, and Tarit Chaudhuri of Keller Williams represented the Buyer.

Houston (SALE) A Class-B Energy Corridor office park has been purchased in an off-market transaction. Kirkwood Atrium Office Park consists of two multitenant office buildings standing four and five stories and containing 54,319 and 68,396 sf, respectively. Dornin Investment Group bought the property. Completed in 1979 on 3.7 acres at 11777 Katy Fwy., the property also has a 360-space parking lot. The buildings are 83 percent occupied with average in-place rents of $17.75 per sf. Average rental rates for Class-B buildings in the submarket are over $25 per sf. HFF arranged the sale. Financing was provided by ViewPoint Bank.

Houston (SALE) CBRE announces that Union Crossing Development, LP, has purchased an additional 104 acres of land at Union Crossing Industrial Park, located at Telge Road and Northwest Lake Drive in northwest Houston, Texas. Wyman Gordon Forgings sold the property for an undisclosed price. Jeff Pittman with CBRE’s Houston office brokered the transaction on behalf of the buyer. John Littman with Cushman and Wakefield represented Wyman Gordon Forgings in negotiations.

Houston (SALE) Colonial Group, LP purchased Plaza Del Oro Professional Building located at 8111 N. Stadium Drive. Randy Hutchison of OAR Realty Partners, LLC represented the buyer, and Joan Collum of Collum Commercial represented the seller.

OAR Realty Partners, LLC has been retained by the new owners to handle the property management and leasing assignment for the building. Randy Hutchison will oversee the management and leasing.

LAND

44 REDNews.com

1.2 ACRES FOR SALE W. Little York, Katy, TX • $299,000 ($5.50 PSF) REDUCED!

N

• 138’ Frontage W. Little York Rd.

Barker Cypress Rd.

A. A. Realty Company .......................................................... 43 ACRP ................................................................................. 36 Allegiance Bank Texas ......................................................... 19 BACREN . . ............................................................................ 36 Bearden Development Inc. ................................................... 25 Blake Hillegeist Real Estate ................................................. 23 Caldwell Companies .. ........................................................... 15 CCIM Central Texas ............................................................ 32 CCIM Houston .................................................................... 36 CCIM North Texas . . ............................................................. 34 Colliers International .............................................................. 7 C.R.E.A.M. .. ........................................................................ 36 CREN .................................................................................. 36 CREW Dallas ...................................................................... 34 CREW San Antonio ............................................................... 32 CTCAR ................................................................................ 32 Greenberg & Co. . . ................................................................ 27 Hankamer Commercial Brokers, LLC ..................................... 29 ICSC Texas Deal Makers . . ................................................... 29 International Church Realty .................................................. 29 IREM Houston .. ................................................................... 36 Levcor, Inc. .......................................................................... 25 Marcus & Millichap . . ............................................................ 29 Maxx Builders ...................................................................... 19 McAllister & Associates ........................................................ 25 Mockingbird Management , LLC ........................................... 13 Moody Rambin Interests 1- SE Texas................................ 3, 21 Phase Engineering, Inc. ....................................................... 30 Porter Powers ...................................................................... 41 R. S. Hart Commercial Brokerage, L.L.P. .............................. 17 REMAX Commercial . . ........................................................... 27 South Texas College of Law ................................................. 44 TAO Interests, Inc. ................................................................ 41 Tarantino Properties, Inc. ................................................... 8, 9 The J. Beard Real Estate Company, L.P. .. ............................. 11 TIG Real Estate Services ............................................... 21, 27 Transwestern ................................................. 1- North Texas, 5 Westchase District ................................................................. 2 Wilson & Stonaker, L.L.C. 1- North Texas, .............................. 5

INDEX

Brenwood Park

INDEX

CLASSIFIEDS

Greenhouse Rd.

ADVERTISER

• 389’ Depth • All Utilities Available

• Seller Financing with 30% Down TAO Interests, Inc - Broker

Tim Opatrny • 713.621.9841 www.taointerests.com email: tim@taointerests.com

“During our move, Move Resource Group was able to set us up in our new office with zero downtime for our company, which saved us from losing revenue that would have resulted from fewer working days.

Move Resource Group is worth every penny!”

- Jenette W., Cinco Energy Services

281-205-7956 Moverg.com

Broker: Donald Daum Office: 713.953.9800 Mobile: 281.546.9073 ddaum99517@aol.com Property Management | Development | Leasing | Construction Management

Harry M. Green Interests, Inc.

5900 Memorial Suite# 305 Houston, TX 77007

713-533-1933 porterpowers.com REDNews.com 45

LAST

PAGE

Social Media Are you doing it wrong?

by Amanda Simonian REDNews

So, you understand the need for social media to promote your business. It’s essential. You started a Twitter account, a Facebook account and even have your business listed on some of the top Real Estate sites that let your clients post reviews, but nothing seems to be working. Before you jump to the conclusion that social media is “just not right” for your business, think about whether or not you are managing your social media “just right”.

Here are the Top 10 mistakes people make with their social media:

10

9 8 7 6 5

Not following your competitors or industry leaders. Why wouldn’t you do this? Why wouldn’t you team up and start a little buzz about each other? Look at the social media the big guys do. McDonald’s, Burger King and even Pace Picante sauce. Sometimes they talk to each other and the result can be hilarious. Some of these awesome little nuggets have even gone viral. Now, be careful here. Don’t turn it into a rivalry that becomes ugly. A simple shout out or re-tweet once in a while can go a long way.

YELL! YELL! YELL! Please don’t yell at us. By nature when we see all CAPS we assume someone is yelling at us. If you are yelling at us in your posts, we will read it in the “MONDAY! MONDAY! MONDAY!” monster truck voice and skim right over it.

Making it an afterthought. I get it. There is a lot to manage being in the CRE world, but don’t let your marketing fall behind. If you aren’t working to create a buzz about your business, there simply won’t be one.

Ignoring your customers. It goes both ways, guys. If you’re doing it right your customers are reviewing, rating, commenting, liking, sharing etc. Thank them. On the flip side, if it’s not a very flattering comment or they had a bad experience don’t give them a canned response. They didn’t give you a canned review. Thank them. There’s an old saying that complaints are gifts. Thank them and change their mind.

Posting stuff just to post stuff. If you aren’t posting anything that is relevant or that you really want people to know, don’t post it. I’ve seen small businesses use the internet to look up a silly holiday and post it as their status. No offer for a special item on sale for the day, nothing to draw in the customer. “Happy Matzah Ball Day” from a car repair shop doesn’t make sense to me and it certainly won’t make sense to your prospective clients.

Not engaging your customers. Social media is about fun communication that gets your brand noticed. You have to get creative to get people engaged, thus spreading the word. Saying “We have $2.00 off sandwiches today,” is one way to say it - but what if I wasn’t in the mood for a sandwich? “Fresh, hot bread just out of the oven and Danny’s coming up with some awesome new creations! Mention this post and you’ll get $2 off your lunch today only!” Add a picture and all of a sudden I want a sandwich, my friends want sandwiches and you’ve got a line out the door.

4 3 2 1

No Pictures? Definite problem. Speaking of pictures, people like them. Pictures of your staff, your products, your customers. Pictures add to the human side of your business. You become real.

“Oops. I forgot.” Well, if you aren’t posting regularly, we aren’t thinking about your business regularly. Posting once a week is going to get you buried in the timeline or the feed. In some cases such as Twitter, posting once a day will almost guarantee it never being seen or being seen by very few.

Knowing it’s important, but not knowing why. You have to have a strategy. If you go at it all willy nilly you’re probably making all of these (and many more) mistakes. There is a science to it, yes but it’s not rocket science. Sit down. Think about it. Find someone that specializes in it to help you sort it out. aving no social media at all. Obviously. Social media, when done right, is one of the least expensive and most powerful marketing tools you have H at your disposal.

46 REDNews.com

FOR LEASE

OFFICE/RETAIL SPACE 1. Woodland Park Shopping Center 11380 Westheimer, Houston 77077

• Shopping center size - 75,620 SF - Built in 1985 • Retail space available (1st floor) - 1,600 SF - 4,000 SF - $13.00/SF + NNN • Aggressive lease terms • Pylon signage available • Traffic counts - 82,880 CPD (Westheimer) • +/- 592’ of frontage on Westheimer • 372 surface parking spaces available

2. Kaleidoscope

10612-10692 Westheimer, Houston, TX 77042

• 2 blocks west of Beltway 8 • 2,952 SF - 2nd floor • Excellent for retail, office or professional use

3. Park West Plaza

8989 Westheimer, Houston 77063

• 20,000+ SF Available • Up to 6,000+ SF Contiguous Space • Aggressive lease terms - $13.00/SF Gross • Generous surface parking at no charge for open, non-reserved spaces • Card-key controlled access • Pylon signange available • On-site management • Parking ratio - 3.4/1000

Kenneth K.Y. Leung 281.467.3535 713.988.0888 x108

A A Realty Co

eleung8888@aol.com

www.aarealtytx.com A A Realty Co

Accredited Management Organization

Accredited Management Organization

1

2

Beltway 8 West

For more information

3 Westheimer Rd

y

a Westpark Tollw

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL 5909 West Loop South, Suite 135, Bellaire, Tx 77401 Return Service Requested

PRSRT STD U.S. POSTAGE PAID Permit No. 2436 DALLAS, TX

Address Service Requested

October 28-29, 2014 17th Annual COMMERCIAL REAL ESTATE Co-Sponsored with South Texas College of Law / Houston 1303 San Jacinto Street, Houston, Texas 77002

® not only the mandatory TREC Legal and TREC Ethics courses, but more than enough TREC-approved elective hours to satisfy your entire 15-hour continuing education requirement.** Attendees will hear from commercial real estate industry experts like Dr. Mark Dotzour about Texas’ economy, Jack Steele about Texas’ changing demographics, Dr. Harold Goodin about Texas’ transportation. Larry Nettles will cover fracking and the Clean Water Act in his presentation on hot topics in environmental law, Reid Wilson and Professor Matt Festa will deconstruct the Ashby High Rise litigation (and explain why it could happen again), and the Director of Houston’s Planning and Development department, Patrick Walsh, will provide attendees with glimpse of what the future holds for Houston. Key panels on Land, Energy, and New Development as well as several practical sessions about using (and not using) technology round out the packed agenda.

Patrick Walsh at the end of Day 1 at which attendees and speakers can meet and mingle. **Does not meet Broker Responsibility course requirements.

LOCATION Garrett-Townes Hall South Texas College of Law 1303 San Jacinto Street, Houston, Texas 77002 Complimentary Wi-Fi provided

DATE AND TIME Tuesday, October 28, 2014 (8:30 am - 5:45 pm); Networking Reception from 5:45 pm - 7:00 pm

Wednesday, October 29, 2014 (8:30 am - 3:50 pm) REGISTRATION View program details and register online at www.stcl.edu/cle CONTACT US Continuing Legal Education Department (713) 646-1757 or (800) 646-1253 or cle@stcl.edu

Accreditation pending by the Texas Real Estate Commission (TREC) for 17 MCE hours. Provider number 0207, Real Estate Center, Texas A&M University. Includes the required legal update and ethics hours required by TREC.