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Yo u r Te x a s C o m m e r c i a l R e a l E s t a t e M a r k e t i n g S o u r c e

June 2009

See pages 26 & 27 to learn more

WHAT’S | Inside Calendar of Events Properties For Sublease Properties For Lease Properties For Sale

FEATURING | Vacant Land Commercial Services Commercial BUZZ Networking Deals Done

• CRE Professionals Talk About The Texas Market • Texas Land: A Safe Investment • Texas Good News • Using IRAs To Buy Real Estate

NEW at REDNews • Follow Us Now on These Sites!

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June 2009


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5909 West Loop South, Suite 135 Bellaire, Texas 77401 Austin .......................................................... 512.535.4151 Dallas/Fort Worth ................................... 214.281.8935 Houston ...................................................... 713.661.6300 San Antonio ............................................... 210.568.3650 Outside Texas.............................................800.836.2191 Fax .................................................................713.610.9015

Sta

Publisher Ginger Wheless .............................................. ginger@rednews.com Editor Marjorie Gohmert ..................................... marjorie@rednews.com Contributing Writers Janis Arnold Ralph Bivins

Ray Hankamer

David Sorter

Sales Juli Graves ............................................................juli@rednews.com Graphics & Production Brian Cook .........................................................brian@rednews.com Mike Krause .......................................................mike@rednews.com

FEATURES Texas Land: A Safe Investment..............................................8 Who is Buying Land? ................................................................8 Farmland as Investment .......................................................10 Chad & Jennifer Johnson Talk about the Market ............11 Professionals Predict ..............................................................12 Where’s the Money Going to Coming From? ...................12 Using IRAs to Buy Real Estate ...............................................12 Real Estate Development Follows Transportation Corridors ......................................................13

E-Marketing Department Jonathan Nguyen ......................................jonathan@rednews.com

Optimism Reigns ........................................................14, 15, 20

Website Development Randy Tran ........................................................randy@rednews.com

I35 Corridor Growth & Development ................................ 20

Accounting Tiffany Lopez .................................................. tiffany@rednews.com

Texas Good News ............................................................. 32, 33

Marketing Coordinator Regina Philip .................................................. regina@rednews.com

Commercial BUZZ............................................................ 34, 35

Advisory Board Brad Bailey Marcus & Millichap Austin

CeCe Garrett U.S. Property Management Houston

Marty McAdams McAdams Associates Kingwood

Michael Buls Buls Hodge Consulting Austin

Don Garrett Randall Morris & Associates San Marcos

Ana Mendoza Kimley-Horn & Associates Dallas

David Buttross Buttross Properties Austin

Michael Geisler Venture Commercial Real Estate - Dallas

Lang Motes Indermuehle & Co. Houston

Donnie Chang ABC Realty Advisors Houston

Kim Ghez Presidio Title San Antonio

Suzanne Page-Pryde Page-Pryde Properties Houston

Kevin Dalrymple Clay & Company Houston

Chuck Green Chuck Green Associates Dallas

Cathy Coneway Stanberry Commercial Austin

Christi Griggs CB Richard Ellis San Antonio

Eugenia Canakes Robbins RER Solutions Dallas

Steve Craig The Bank of San Antonio San Antonio

Henry Hagendorf Grubb & Ellis Houston

Bob Cromwell Moody Rambin Interests Houston

John Hammond First American Title Houston

David Dunn Sperry Van Ness - Dunn Commercial Arlington

Ray Hankamer Hankamer Commercial Brokers, LLC - Houston

Larry Eisenberg Central Texas Investment Group Austin Cynthia Ellison Grubb & Ellis Company San Antonio Colin Fox Colin Fox & Associates Houston

Chris Harman HCP Austin Tim Hughes Falcon Real Estate Dallas Stephen Maulden Marcus & Millichap Dallas

June 2009 Cover

Tom Rogells Henry S. Miller San Antonio Tom Rohde Rohde, Ottmers & Siegel Realty San Antonio Sassy Stanton Stanton-Pinckard Realty Houston Todd White Macfarlan Real Estate Services Dallas Jason Whittington NAI Houston Houston Randy Wile Wile Interests Houston

Print & Digital Distribution REDNews is directly mailed each month to commercial real estate brokers, investors & developers in the following cities / areas as well as 300+ locations throughout Texas: Texas Brokers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,313 Texas Leasing / Tenant Rep . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,907 Texas Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,659 Texas Developers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,402 Outside Texas Investors, Brokers, Developers, etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,295

Central/South (Austin/San Antonio Area) Advertisers Index ......................................... 50 Announcements & Deals Done ............. 18, 19 Calendar of Events ....................................... 16 Commercial Organization Contacts ............. 16 Commercial Properties ................................ 21 Industrial ...................................................... 19 Networking .................................................. 17

North Texas (Dallas/Ft.Worth Area) Advertisers Index ......................................... 50 Announcements & Deals Done ............. 24, 25 Calendar of Events........................................ 22 Commercial Organization Contacts ............. 22 Networking .................................................. 23

Southeast Texas (Houston Area) Advertisers Index ......................................... 50 Announcements & Deals Done.............. 30, 31 Auctions ........................................... 25, 36, 37 Calendar of Events........................................ 28 Commercial Organization Contacts ............. 28 Commercial Properties ................................ 48 Farmland ...................................................... 10 Hotel ............................................................. 38 Industrial ...................................................... 38 Networking .................................................. 29 Office ...................................................... 39, 40 Office/Medical.............................................. 41 Office/Retail .........................................42 - 44 Retail ................................................. 2, 45 - 47 Vacant Land...................5, 9,10, 11, 13, 26, 27

Commercial Services The Johnson Development Corp. Jennifer Johnson 713.961.2977 jennifer@johnsondev.com for more information see pages 26 & 27

Environmental ................................. 16, 22, 28 Maintenance ................................................ 34 Signs ............................................................. 52 Texas Classifieds ........................................... 50

Total REDNews Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,576

REDNews Has Gone Green Using Recycled Content To subscribe to REDNews call 713.661.6300 or log on to I June 009 www.REDNews.com/free

Need extra copies of REDNews? You can now pick one up at 300+ locations throughout Texas. Log-on to www.rednews.com for a full list of locations.


11711 Shadow Creek Parkway, Suite 145 Pearland, TX 77584

Ardent Commercial

Phone/Fax: 713.970.1018 www.ardentrealtygroup.com info@ardentrealtygroup.com

Realty Group Fuqua and Monroe

+/- 8.68 Acres

Houston, TX 77075 $4 PSF - $1,512,403 Property is located just one mile north of Beltway 8 on the SW hard corner of Fuqua and Monroe. Ideal for medium-sized apartment community. Water and sewer support 30+ units per acre. Seller may reduce price if the hard corner is retained by the seller. Property has no zoning. Monroe is now being paved to connect with Beltway 8, increasing traffic around the property location.

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Southeast Corner of Airport Blvd and Highway 288

+/- 7.19 Acres

Houston, TX 77051 Ideally suited for a convenience store, strip center, or fast food location.

$8 PSF - $2,508,456

Two tracts included: +/- 5.6 acres and +/- 1.5 acres. Across Highway 288 from Houston Community College. Frontage: 853 feet on Highway 288. Distances: ~7.2 miles to Downtown; ~5.5 miles to Medical Center; ~3.2 miles to Pearland. Traffic count on Highway 288 is approximately 100,000 cars per day.

Junction of Hwy 59, Hwy 77, and Hwy 91

+/- 22.3 Acres

Victoria, TX 77904 22 acre prime commercial property.

$35,000 Per Acre - $780,500

Property has over 1700' frontage on TX-91 Spur. Excellent visibility and easy access from both Highway 59 and Highway 77. Land is outside the 100 year floodplain. Start of future Interstate 69 corridor. Owner financing is available for property.

Southeast Corner of Pinemont Dr. and Bingle Rd.

+/- 6 Acres

Houston, TX 77092 Excellent access to and from nearby Highway 290.

$8 PSF - $2,090,880

Daily traffic count on Highway 290 is approximately 214,000 cars per day. Daily traffic count on Bingle Rd. is approximately 37,940 cars per day. Frontage on Pinemont is ~ feet; frontage on Bingle is ~ feet. One of the strongest daytime populated areas in Houston, with over 8,500 businesses within 3 miles. Located nearby the newly constructed Class A FBI Building. Spencer Highway and Fern Rock Rd.

+/- 1.16 Acres

La Porte, TX 77571 $11.50 PSF - $580,151 Less than half a mile from San Jacinto Community College Central Campus and Texas Chiropractic College.

Spencer Highway

Rapidly expanding retail market supported by residential, commercial, industrial, and collegiate traffic. Prime location for fast food, retail site, small businesses, strip center, or convenience store serving the Pasadena, Deer Park, and La Porte communities.

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Distances: ~1.5 miles to Red Bluff Rd; ~4.5 miles to Highway 146; ~3 miles to Beltway 8; ~2.5 miles to La Porte Municipal Airport.

Highway 59 and Old Hwy 59

+/- 60.9 Acres

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Beasley, TX 77417 $50,000 Per Acre - $3,045,000 Exceptional Highway Frontage: 2300 feet on Hwy 59; 1320 feet on Old Hwy 59.

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Property is located within 5 miles of an 885 acre rail yard being built to service the expanding Texas-Mexican rail line. Land is flat and cleared, with city water and sewer. Less than 10% of land in 100 year floodplain. Excellent visibility from Hwy 59 and Old Hwy 59.

Š 2008 Ardent Realty Group. All Rights Reserved.

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Note From Chief Operating Officer As companies tighten budgets during this recession, it’s vital that your company not disappear from the public eye. The goal is to stay ahead of the game by finding new and innovative ways to stretch your advertising dollars and adapt to this ever changing market.

Randy Tran

At REDNews, we have taken steps this year to help our clients achieve the greatest amount of exposure possible. We have partnered with Commercial IQ to distribute REDNews members’property listings to additional websites which include NAR’s CommercialSource.com, Google, Lycos, Oodle, CMLS, and Vast. We have also partnered with CREMunity. tv to offer our clients an avenue to start sharing their commercial real estate videos. Once videos are placed on CREMunity.tv they are distributed to YouTube via the REDNews YouTube channel at www. youtube.com/rednewsvideos. Chief Operating Officer REDNews

You can now follow REDNews on Twitter, Facebook, and LinkedIn to keep up with the happenings and news in the commercial real estate industry. Our news articles and industry statistics can also be found on Digg.com, Delicious.com, Technorati.com, and Yahoo Buzz news websites.

We have also increased REDNews exposure by taking our print distribution to the streets! In the past 5 months, we have increased our newsstand distribution to include over 300 stops across the state of Texas. Distributing our information across many online portals has increased our website traffic over 30% in the past few months. This in turn has brought additional hits to our digital magazine and our members’ commercial real estate listings. Our research department continues to take an aggressive approach to grow our online presence and magazine distribution on a daily basis. We have also developed new cost-effective print and online products to provide marketing solutions for companies with budgets large and small. In an effort to be more environmentally friendly we have also started our very own green initiative by having our magazines printed with recycled content. We also have the digital magazine option on our website for those readers who want to go 100% paperless. We want our readers to know we are sensitive to the environment and want to do our part in going green.

Follow us on:

Twitter: www.twitter.com/REDNews_CRE

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Regards, Randy Tran

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Hawaii

Locally based Internationally read

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Australia Ireland Malaysia Switzerland

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Apr 09 May 09 Texas Brokers 7,298 7,313 Texas Leasing/Tenant Rep 5,896 5,907 Texas Investors 4,647 4,659 Texas Developers 4,388 4,402 Outside Texas Investors, Brokers, Developers, etc. 25,280 25,295 Readers Nationwide

47,509 47,576

And located at 300+ newsstands throughout Texas 6

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Texas Land: A Safe Investment in These Times by Stephen Hausser with McDade, Smith, Gould, Johnston, Mason + Company

With our government printing U.S. dollars more quickly than we can cut down the trees they come from, common sense dictates that we will be entering a period of currency devaluation. In an inflationary environment, real estate can make an excellent hedge. The adage that real estate values typically increase along with inflation is only partly true though, according to Mark Dotzour, chief economist with the Real Estate Center at Texas A&M. In his April 2009 Tierra Grande article entitled, “The Ravages of Inflation”, he suggested that it is only the farm land and commercial properties in areas of job and population growth that will serve as an effective hedge against inflation. Texas lies in the crosshairs of this concept of real estate as an inflation hedge. As the world’s population grows and emerging nations increasingly become dependent on the petroleum products produced by Texas-based companies for their transportation & manufacturing needs, Texas should expect outstanding growth. The U.S. Census Bureau’s Interim State Population Projection predicted a nearly 50% population increase in Texas over a 25 year period between 2005 and 2030, a staggering growth rate. A similar study conducted by the United Nations predicted that the United States as a whole would grow 40% between 2000

and 2050. Indonesia was the only country worldwide whose growth estimates exceeded those of the United States over this 50 year period. In comparing the two projections, Texas is supposed to grow more than twice as quickly as the United States.

As the plummeting stock values of companies such as Lehman Brothers and AIG have indicated to us over the past year, even the seemingly most bedrock of United States corporations can lose all of their market value. The new global economy has rendered the viability of our Fortune 500 companies subject to the whims of an increasingly Stephen Hausser volatile world. Land appeals to us in that, Broker outside of some catastrophic event, it McDade, Smith, Gould, can never lose all of its value; the secure, Johnston, Mason + Company long term value of rural land is as simple to understand as the fundamentals which fuel its value: population growth and crop prices.

...it is only the farm land and commercial properties in areas of job and population growth that will serve as an effective hedge against inflation. Another important factor to consider is that land values have historically increased in tandem with crop and commodity prices. Historically, increases in Texas rural farm land prices have coincided with run-ups in crop prices. With widespread speculation that we are heading into a period of hyperinflation, we can expect an increase in both commodity prices and agriculture prices and profits. Over the long term, we should also expect a remarkable increase in agriculture demand. SecretaryGeneral of the United Nations Ban Ki-Moon estimates that the world’s food supply must rise 50% by 2030 to meet the growing demand of the world’s exponentially multiplying population. The recent commodity price depression should cause a temporary decrease in the values of agrarian land. Moreover, the credit freeze, combined with decreases in crop revenues and forecasted real estate development is making it difficult for overleveraged farmers and real estate players to secure the necessary financing to hold on to their existing land investments. There already are some needy sellers on the market.

the late 1980s and early 1990s. Despite Texas land values appreciating at the staggering rate of 17% annually between 2002 and 2007, certain indicators suggest we will not see the corresponding erosion of values we saw during the last real estate collapse. There is currently not enough raw land transaction volume to assertively say where prices stand. Some might speculate that rural land is trading at its 2004 and 2005 values. Our firm McDade, Smith, Gould, Johnston, Mason + Company, which specializes in representing buyers and sellers in raw land transactions, has seen very few distressed land sales at the present time. We have seen some tracts foreclosed on, and there are and will be some outstanding buys, but it is difficult to say if we will see the flood of distressed assets as seen during the 1980s, as today’s debt is much more complicated. Today’s debt is securitized and located in secondary markets all over the world, making it difficult for regulators to identify and decisively move debt off of lenders’ books. Lenders themselves have also been more hesitant to foreclose and stimulate their own write downs and widespread commercial real estate devaluations, preferring to work out solutions with their clients. With the money that our government is pouring into the economy, values and demand could very easily rebound before we fall into the long term recessionary curve of the late 1980s and early 1990s. Do you want to be caught sitting on the sideline, too late to enter the real estate market as property values increase and the value of your cash inevitably declines? With impending inflation, the underlying demand-driven fundamentals fueling the Texas economy should make Texas a safe place to invest money. To those in a cash position to hedge themselves against the hyperinflation and uncertainty of the future, Texas rural land and commercial real estate should make safe, viable options.

The looming question in today’s market is if, and when, these distressed assets will flood the market similar to what happened in Texas during

Who is Buying Land? by Teresa Talerico for REDNews

REDNews: What do you see as far as deals being done in land for the investment market?

Randall Tuller

Principal & Managing Director Situs

Of course the number of transactions is way down over previous years, but there is still activity in the market. There are a few users still needing new locations, and there are a number of investment buyers looking for distressed opportunities in all property types.

REDNews: Do you see a push for commercial real estate investing to replace investing in the stock market?

I think on the surface this would seem a logical conclusion, but I’ve

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not personally seen it. There were a lot of new entrants into the real estate investing community over the last several years before the cycle turned, many who paid too much, over-leveraged, or didn’t know what they were buying and how complicated owning real estate can be. Many of these investors probably wished they hadn’t bought real estate, or certainly wished they would have done so more diligently and understood the complexities involved in minimizing risk and maximizing returns. There may be some investors moving out of stocks and into real estate, although I don’t think it will be a market-driving trend.

REDNews: Who is buying land?

We are working with a lot of equity funds and high net worth individuals searching for discounted properties due to foreclosure or problems arising from maturing loans or other issues. Additionally, we are seeing

interest in the purchase of notes secured by real estate in order to get ultimate ownership of the assets. There are also some users taking advantage in the softness of the market and are currently scouting for new locations.

REDNews: Where are the users looking for sites - urban/ rural?

It really depends on what market they are in and who their customers are. It varies depending on what demographic they are trying to reach and how much they can pay for land.


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GREENBERG & COMPANY 5959 Richmond Ave., Suite 440 Houston, TX 77057

713-778-0900 www.greenbergcompany.com david@greenbergcompany.com

- Land Area: 122,219 sq. ft. - Prime Site for Development - Minutes from Downtown Houston

200 Acres in Friendswood, TX Zoned Single Family Residential Excellent Subdivision Development Potential

BOFYSIL REAL ESTATE 281.313.1082

LAND FOR SALE +/-19.54 Acres - Clay Rd $MBZ3PBE,FZ.BQ&

- Land Area: 50,000 sq. ft. - Build to Suit - Across from the METRORail Station

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1200 Spears / Rankin - 10,000 SF Warehouse ............... 4.95 acres .................. $900,000 5317 Washington Avenue ................................................ 48,676 SF .................. $3,017,912 26,105 SF Office / Warehouse 602 E. Little York / Nordling Corner ............................. 19,262 SF ................... $375,000 Jones Road / Chelsea Oak Corner Near FM 1960........... 1.2 acres .................... $223,027 11011 Jones Road @ FM 1960 ........................................ 2.46 acres .................. $321,472 Shady Hill at Spur 330 / Decker Drive, Baytown ..........10.6 acres .................. $461,736 Gladstell Road, Cleveland ............................................... 94 acres ..................... $775,000 New House / Barn / Lakes W. Little York, Near Bingle ...............................................2 acres ....................... $257,000 Almeda Genoa / Hycohen Corner @ Hwy 288 ..............8.6 acres .................... $1,876,521 CR 521 / FM 1462, Rosharon, Will Subdivide ................. 48.6 acres .................. $722,591 Hardin Area, Great Hunting w/ cabin ............................... 496 acres ................... $816,750

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Farmland as Investment by Teresa Talerico for REDNews

“In today’s challenging real estate market, smart investors will set their sights on good old-fashioned farmland”, says George Clift, owner of Amarillo-based Clift Land Brokers, which sells mostly farm and ranch land in the Texas Panhandle. In fact, the company bills itself as the largest land broker in that 26-county region.

George Clift Owner Clift Land Brokers

“If investors understood agriculture, they would invest (in land),” he says. “You can see, feel and touch it – you don’t have to worry about someone absconding with the money.”

Moreover, lenders in the agricultural sector have money and seem willing to share it, unlike skittish lenders in other real estate sectors. Typically, lenders have required approximately 25 percent down, which hasn’t changed in the current economic climate. However, some new rules and regulations will likely slow down the financing process. Charles E. Gilliland, a research economist with the Real Estate Center at Texas A&M University, says cultivating a farmland investment is a wise move as the nation recovers from the fiscal crisis. “Those properties are going to be the first ones that come out of the trough, if you will, and prosper,” he says. The most common crops today are corn, wheat and milo. Cattle ranches are also prevalent. Traditionally, farms are purchased on a return basis, Clift says. Until recently the expected return was 8 to 10 percent. For example, investors who bought land at $1,000 an acre could expect a return of $100 an acre. Now, however, returns have dropped to between 5 and 7 percent. The reason? Input cost has increased. However, it’s still higher than the stock market. Texas, Oklahoma and western Kansas – where returns average 5 to 7 percent – are the last frontiers for good investment return. By comparison, Illinois farm returns have fallen as low as 3 percent. There doesn’t seem to be a big rush yet on farmland, so those who act fast should be ahead of the pack. So far 2009 seems to mirror 2008 in terms of the number of buyers and the amount of listings, Clift says. And to date, the sector has been spared the foreclosures that have spread like wildfire through the single-family home market. The price of farmland has escalated by 30 to 40 percent in the past five years. This year prices may be off by as much as 7 percent. After the financial debacle, Clift recalls, buyers would call him, saying, “When farmland falls 20 percent, I want to buy.” His response: “It isn’t going to happen.” In 2008 his biggest deal totaled $22 million. Among those buyers were pension funds, hedge funds and a larger number of land investors. This year is similar; however, Clift has been hearing more lately from institutional investors. The timing seems good for potential farmland investors who are

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looking for loans. Clift says he’s fielding a lot of calls from lenders who tell him they’ve got the money; just send them the borrowers.

“My farm did not go down in value at all with the financial debacle,” Clift says. “My house did go down in value. It’s a long-term investment. I didn’t buy it today to sell it next week like a rent house.”

There is one big risk factor in farm and ranch land: the price of commodities, which experts say could go up or down, depending on which expert is asked. “Some investors are arguing that commodity prices are going to remain high for a number of years and that farmland is the place to be investing, and then there are others who are skeptical that supply won’t expand, driving prices back down,” Gilliland says. “Both sides of the argument can cite facts and figures to justify their argument.”

Pay Dirt

Investors interested in farmland essentially have three options for production, Clift says.

Farmland as Investment

Continuing economic uncertainty is prompting some investors to purchase farmland as an Charles E. Gilliland investment. Cropland prices and Research Economist Real Estate Center rents have increased steadily since 2004, in part because of rising commodity prices. But the 2008 run-up and subsequent collapse in commodity prices have caused other investors to rethink their strategies.

The first is called a “flat cash rent.” “That means that if I own a farm and want to cash rent it, I take your check and you take the production risk,” he says. “That’s the most simple scenario. It’s also the most conservative approach for returns.” The second option is a crop-share arrangement, where the buyer shares in crop expenses, crop yields and crop prices with a tenant. “So you’ve got more money in the game,” Clift says. “The return is a little better, but you assume some risk with that. It’s about risk reward.” The third, a custom farming arrangement, has the highest returns.“If I own a farm and you own tractors and combines, I pay you to till, harvest the crop and then I assume, as the landowner, all the management decisions, all the marketing decisions. The risk is greater (for the owner) with that custom farming arrangement, but the rewards are greater.” Clift noted that cap rates aren’t used in this particular segment of commercial agriculture real estate. “From a conservative standpoint, we’ll use a 5 to 7 percent return as the most conservative return you would expect owning a farm,” he says. Considering the current downturn, Clift says investors should take another look at farmland. “They need to,” he says. “I think we will see some of that. But it’s just a comfort zone of understanding agriculture.” And he’s not just speaking as a broker; Clift also owns a farm, which grows corn and wheat and is operated under the custom farming arrangement.

Takeaway from Tierra Grande article by Charles Gilliland

Sassy Stanton with

Stanton-Pinckard Realty

Great Owner / Investor Property For Sale On Blackhaw & Redhaw Street

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Jacobs Properties Established 1967

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• 143 Acres inside Loop 336 between two subdivisions • Level, wooded, large pond • City utilities available No zoning or restrictions • $2,100,000

Conroe • • • • •

2 tracts, 14 & 15 Acres Each with hard corner on FM 1488 Just 3 miles west of I-45 Owner/Broker $7.50 PSF

Montgomery • • • • •

(936) 597-3301

150 to 300 Acres of rolling hills Scattered trees and native pasture Near Lake Conroe Owner/Broker $9,000 per acre

www.txland.com

Montgomery • 76.847 Acres of prime commercial property northwest of Montgomery • 2,500 of frontage on the new Lone Star Parkway • South line adjoins Montgomery High School sports complex • City utilities available • Historic town of Montgomery is eager to welcome new business • $2,305,410

Chad & Jennifer Johnson Talk About The Market by Teresa Talerico for REDNews

REDNews: How are you positioning your company in today’s market environment?

Chad Johnson Executive VP & COO Johnson Development

Jennifer Johnson Commercial Sales Johnson Development

We have done all the obvious things like evaluating our overhead expenses and reducing operating costs as efficiently as possible. While making these types of changes in response to the current slowdown in our real estate markets, we are also committed to maintaining our core group of multi-talented team members in order to capitalize on opportunities that will certainly arise in the near term. We are very fortunate to be a master planned community developer. Our projects tend to pick up the market share in tough times because the residential and commercial buyer tends to want to buy in a master planned community due to stability, demographics, and architectural control.

REDNews: How is today’s market affecting your master planned developments?

Current market conditions have slowed residential, commercial and retail construction in most of the master planned communities in our market. Home builders are not as speculative in terms of the number of inventory homes they are constructing and are primarily building pre-sold homes for specific buyers. Obtaining financing for home construction as well as for consumer home purchases is a challenge for just about everyone today. Overall sales in our projects are down but we continue to gain market share for each of our projects.

REDNews: Are you seeing more buyers, sellers or tenants in today’s market in terms of property type and location?

REDNews: What opportunities do you see in today’s market?

With the current lack of liquidity in today’s marketplace, there is virtually no financing available for speculative land investments. However, there are a number of equity funds in the market primarily focused on deeply discounted properties.

As in previous economic downturns, there will be winners and losers coming out of this difficult environment. We are sticking to our core business strategy and believe that there will be opportunities for land development firms such as Johnson Development to offer their management experience and talent to asset managers looking to reposition projects and/or increase their value through strategic decision making. There are plenty of opportunities to acquire properties across the board. We feel that this window will be fairly short.

REDNews: What strategies are you using to weather the recession? Hunker down, get back to basics, stick to our strengths and completely understand our various markets better than ever before. We are selling more aggressively. We are realistic that it is a buyer’s market. We are paying more attention on allocating our advertising dollar, and we are paying more attention to details.

Our primary business is large scale community development in Houston, Texas and Atlanta, Georgia and we are certainly seeing less home buyers than in prior years. We are also seeing fewer commercial buyers in the market due to funding and the uncertainty in the market.

REDNews: What kind of activity do you see in the land investment market?

REDNews: Do you see a push for commercial real estate investing to replace investing in the stock market? We are seeing people split up their investments. Many Houstonians are investing in funds to acquire distressed real estate.

REDNews: Who is buying land?

Vulture funds and high net worth individuals. We are also seeing some activity in public use and small independent users.

REDNews: Where are the users looking for sites?

In safe, proven geographic locations where demographics already support project feasibility.

I




Professionals Predict: by Janis Arnold for REDNews

Summarization of the most recent survey taken by Jones Lang SaSalle at the Urban Land Institute’s Spring Council Forum in Atlanta:

looking to the industrial sector to be this year’s winner.

While approximately 25% of CRE investors and developers polled report that they are planning to reduce investment spending this year, 37% plan to increase their investment activity over last year’s spending.

A promising sign pointed to by many was the London market where pricing levels by buyers and offers from buyers have begun to meet again. Far and away survey respondents pointed to concerns about the lack of liquidity as the significant influence on development and investment activity this year.

Some reported that they felt that the global economy has hit bottom and predicted recovery in the market with 38% expecting multifamily to be the most promising area for investment, and 26%

Many survey respondents are looking toward multifamily, industrial and hotel sectors for opportunities this year, but continue to feel that on the average, investment spending might decline by as much

as 30%. Multifamily offers the best potential for outperformance among the sectors according to 52% of poll respondents. More than 25% of the CRE professionals are expecting the industrial sector to show relative strength in 2009. 100% of respondents are expecting to see declines in the office sector, and 87% think that the hotel sector will underperform this year. 87% of those polled have seen occupancy of their commercial portfolios fall by as much as 20% in 2009 when compared to 2008.

Where’s the Money Going to Come From? by Janis Arnold for REDNews Beginning in June, the Federal Reserve will expand the Term Asset-Backed Security Loan Facility (TALF) to free up liquidity and unfreeze the credit market for securities in the commercial real estate debt market. The federal government plans to lend money to investors in AAA-rated securities backed by new and recently originated commercial mortgage loans, thereby enabling investors to obtain low-cost loans from the Fed to purchase securities backed by consumer debt, such as credit card debt and car debt as well as commercial mortgage securities debt. “The inclusion of CMBS as eligible collateral for TALF loans will help prevent defaults on economically viable commercial properties,

increase the capacity of current holders of maturing mortgages to make additional loans, and facilitate the sale of distressed properties,” announced the Fed in a May press release. The new loans have a suggested five-year maturity rate. Real Estate Economics estimates that $264 billion in commercial mortgages, excluding construction and land development loans, will mature in 2009 with an additional $274 billion maturing in 2010. The New York-based real estate research firm forecasts that the default rate on commercial mortgages will increase to 4.7% by year-end 2010. There are concerns that these conditions will limit the effectiveness of this government program unless other factors come into play due

to the fact that only commercial mortgages originated on or after July 1, 2008, are eligible for the June round of loans. However, there is talk that the TALF is expected to increase in scope to include older issues under Legacy TALF. The Fed said including commercial mortgage-backed securities in TALF “will help prevent defaults on economically viable commercial properties, increase the capacity of current holders of maturing mortgages to make additional loans and facilitate the sale of distressed properties.”

Using IRAs to Buy Real Estate Using IRAs to Buy Real Estate - Excerpted from MarketWatch’s Chris Pummer’s recent article Six reasons to tap retirement funds now to buy rental property...One of today’s soundest investments is never touted in financial services ads. The reason: Wall Street wouldn’t make any money on it. by Ray Hankamer

Since 1974, Americans have had the ability to use IRA assets to buy investment property... called a self-directed IRA...(it) remains one of the least known and unheralded investment vehicles in the vast financial marketplace. ....residential (and commercial) real estate (may be) a bargain for investors holding cash...if they can put 30% down, IRA investors will find specialty lenders eager to help them leverage their retirement savings with mortgages on rental properties.



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June 009

....homes purchased with IRA funds cannot be used for personal purposes...(but) purchasing a steeply discounted property that can produce annual income of 10% and more is a low-risk strategy for uncertain times - especially for retirees whose fixed-income investments are paying paltry yields right now.

Six reasons to buy: 1. A solid alternative to stocks 2. An investment well-suited to long-term investors 3. Purchasing a significantly undervalued asset 4. A steady income generator- income flows back into the retirement account and is not subject to taxation-this income can be two to three times higher than today’s fixed income offerings 5. A safer means to play the stock market-rental income funneled

into stocks or stock mutual funds today will be buying shares at sharply reduced prices 6. The ability to flip real estate with no tax bite-proceeds from selling IRA-owned (real estate) roll back into the IRA without facing capital gains taxes The bottom line with buying rental properties with an IRA is that the investor retains a level of control over a tangible asset that he or she could never remotely attain in owning shares of a company or a mutual fund. What will yield a better return in the next five to ten years-shares of Microsoft, GE, or Citigroup, or a modest rental home in a decent school district...whose value may soon be juiced by record low mortgage rates and unprecedented tax breaks?


N. Sam Houston Parkway E.

Vacant Land For Sale 2 Acres

Northwest Corner of Park Row and Vanderwilt

Office Building Not a Part of Sale

Lot 2 2.777 Acres 120,945 SF

Westgreen

Lot 1 2.300 Acres 100,175 SF

3.4 Acres

Surrounding the Northeast Corner of Park Row & Westgreen Blvd.

Westgreen

I-45 @ Beltway 8

Park Row

Vacant Land

Beltway 8

Lot 1: 2.30 Acres 100,175 SF

$450,000

Lot 2: 2.777 Acres 120,945 SF 100 Northpoint Drive

$485,000

For Information Call: Gillett Properties, Ltd.

713-532-5353

Real Estate Development Follows Transportation Corridors Book recommendation: Train Time, by John R. Stilgoe. This Harvard professor has written a book which fits perfectly with the timing of the renewed national initiative by Congress and the White House to give some of the same guidance and funding to a national high speed intercity rail network that it has given over the years to long- and short-haul airline industry, and to the highway system. The book points out that: • Real estate development follows transportation corridors, and it gives actual examples of what is happening today - and over the past 20 years- in other densifying regions of the country, such as Portland-Boston-New York-Philadelphia-Baltimore-Washington, and all the suburbs which feed these metropolises • By double-tracking lines, railroads can provide interregional trains which roll at 100-175 mph, enabling commuters to live in say Austin and in other directions and commute daily to Houston, thus intensifying real estate values here • One lane of highway maxes out at about 3,000 cars per hour but one track only begins to max out at 40,000 passengers per hour • By removing long distance eighteen wheelers from concrete to rail we enhance the speed and capacity of our highways, not to mention reduction of pollution, as one train driver can replace some 280 truck drivers with one unitized freight train • The width of right of way needed for double tracks between large metro areas is hugely less than that required for “trans Texas corridors,” and tracks move more volume of freight and passengers in a cleaner way than autos and trucks • Demand for dedicated rail rights of ways is so intense now in some areas that rails to trails are being reclaimed for rails

I-10

I-10 • 262’ Frontage on Park Row • 295’ Frontage on Vanderwilt • Located at entrance to Castle Rock Subdivision • No restrictions • Utilities available • Phase I available • Key Map 446W • Can be divided into two one-acre tracts

Contact: Office: Cell: Email:

• • • • • • • •

Chuck Bremholm 281-994-5180 281-723-6400 chuckb@remax.net

175’ Frontage on Park Row 160’ Frontage on Westgreen No restrictions Utilities available Phase I available Key Map 446X Can be divided Surrounding existing Chevron / Jack-In-The-Box

CINCO RANCH

Sealy West Commercial Park

Hotel • Restaurants • Retail • Office Unrestricted Lots Available For Commercial Development e e an utur ton lL F p e m sch Ha Inn Pe

U.S. Hwy 90 35 38

SE Corner of I-45 and Beltway 8

FM

I-45

Park Row

Corner of U.S. Hwy 90 & Peschel Lane Facing Interstate 10 Unrestricted Lots - Tracts A thru H are Available

The Real Estate Co. 979.885.1200 • 713.982.0324 I




Optimism Reigns

Larry Vickers Tarantino Houston

Sunny Bathija Satya, Inc. Houston

Crista Bromley City of Burnet Burnet

REDNews: Are you seeing more buyers, sellers or tenants this quarter than you did at the beginning of the year? Vickers: Sellers: Seeing some lending institutions lower their prices on troubled assets. Leasing: There are some concessions going to tenants – more in the retail market than in office and industrial. However, it’s not as widespread as you would think. More isolated in soft markets. Some tenants are surprised that landlords are not offering substantial discounts – at least not here in Houston. There has been more of a downturn in the Mom & Pop type retail shops. Bathija: We are gradually seeing more activities from people who have been on the fence. The buyers are still facing the uphill task of meeting more stringent terms from the banks. The sellers are willing to make a deal but no one is discounting as the bargain hunters are expecting. There is definitely more activity from the tenant side. Retail sales are to end users such as automotive & fast food. Previously we had a lot of California buyers in Texas; however, their market is so soft now that they are finding more opportunities there than they are in Texas. About 90% of the Texas market is holding steady – no one in Houston is hurting that much. Most are waiting for the turnaround. However, I purchased an $18 million portfolio of 9 centers last November and sold four of them. I’m also looking for opportunities to buy quality properties. Bromley: Generally, we have not seen more buyers, sellers or tenants year to date. However, a Walgreens was recently completed and we have begun to see some interest in the downtown business district.

Vince Dimare

Equity Secured Capital Austin

Jerry Goldstein Marcus & Millichap Houston

Wile: Yes. The free fall has abated. Consumer confidence seems to have stabilized. On the leasing side, the pendulum has swung to the tenant side in the retail. Some of the national retailers are on the fence while others are looking for opportunities. There is still some uncertainty about the credit worthiness of tenants. Real estate, like any other investment, is impaired by the ability to get reasonably priced financing. Our local economy is being affected by what has happened outside Texas. When they turned off the credit spigot, then commercial real estate became part of the problem itself. We have some structural problems in the US but its gravity didn’t warrant turning off credit altogether. The Feds are talking about “stress testing” the banks’ real estate portfolios, but shutting off credit has unto itself contributed to some of the”stress”. Moreover, we understand that many of the local lenders have been conducting “stress tests” all along. Greenberg: About the same. There are very few buyers for the secondary product that is available right now. Primary properties are not in abundance and there is a big gap between buyer/seller expectations in this market area. The biggest activity is in “new food” buyers. I’m seeing some people buying real estate today thinking it is a bargain because the price is substantially lower than it was a year ago. I am interested in buying in today’s market; however, utilizing common sense and the experience of the 80s means primary locations at below replacement value and there aren’t a lot of those out there right now.

Gene Garcia

GARAN Commercial Houston

Randy Wile

Wile Development Houston

David Greenberg Greenberg & Company Houston

Opatrny: I don’t see a lot of change. I have 30 listings, mostly land, and there is not a lot of activity, although there have been more buyers making inquiries the past month vs. the beginning of the year. Dilick: There is not a substantial amount of more activity than at the first of the year but the market continues to change and if you land a credible user then your goal has been achieved. Beard: There are more industrial buyers and more industrial & office tenants. Also more land for sale. Crosswell: The smaller user type operation - fast food, the smaller retail pad site type operations are still moving; we’re still making progress; we’re still doing a deal a month there. We’re still doing business on sale of sites to apartment developers. The Medical center, Pearland area, Conroe area, west Houston and the area where the Grand Parkway will connect I-10 and 290 and are the most active areas. But for the most part there’s no speculation as far as land is concerned. There will be a substantial change in outlook: first quarter 2010, second quarter. Some people say that’s when we’ll go from feeling hopeless to hopeful.

REDNews: Where are the opportunities in today’s market?

Berry: Our industrial division has stayed strong throughout this year. The office market started showing strength again in May.

Vickers: Reasonable buy/sell opportunities exist, but in smaller quantities, especially if financing is being offered.

Turner: January was a pretty good month for us as usual. February and March were dead. In April and May we had a surprising number of showings and made a couple of deals. There is not a lot of activity from national companies. Typically our lease prospects are +/-5000 SF users and that seems to be picking up slightly again. Tenants are shopping hard and it takes quite a few showings per lease.

Goldstein: There have been progressively less buyers because there are fewer properties that fit the buyers’ expectations. There are some motivated sellers but they are in the minority. There are a lot of buyers out there. The issue is still financing. Lack of financing, less leverage and a higher perceived risk means the buyers are looking for a greater return. Lenders are typically refinancing and extending loans as opposed to foreclosing.

Bateh: Yes, we are in all categories. We are a full service company and we promote our services through advertising and client referral. Professional customer service and value is what our clients receive and as a result we have not seen a downturn.

Bathija: It seems that for every good opportunity there is definitely an opportunity for those with cash in today’s market. These opportunities are short term and once the economy rebounds, they will not be there. There are opportunities in land and buying portfolios as they require a more qualified buyer in these markets. If you have cash and an ability to close soon, there are willing sellers. Many big real estate companies are trying to clear their balance sheet by cashing in on inventory, especially on non-income producing assets, mainly land or un-stabilized centers. They will make a deal if you can close before the end of the year. We are doing some of those deals and buying land which was not on the market and has now become available at reasonable pricing.

Garcia: I handle investment properties. Funding is still the issue. Cash buyers are finding opportunities and I think there will be a lot more in the coming months. I haven’t seen a lot of price reduction; however, I am hearing from more owners who want to put their properties on the market at aggressive pricing.

Rubenstein: We have had more leasing activity in the second quarter than in the first. However, it depends upon location. Office medical has remained strong as well as “primary” retail locations. Rental rates have dropped a little and we’re giving more concessions, but we’re seeing a dip in expenses to offset this somewhat.

Bromley: There are a lot here. We’re 45 minutes from Austin so consider ourselves to be a suburb of Austin. We’re seeing a lot of people leave urban areas to move here for a quieter lifestyle. Our growth rate has typically been 4% a year and we’re anticipating 3% this year, plus we have a few land opportunities in terms of

Dimare: There seems to be more activity from buyers with cash and some sellers who are reducing their asking prices.

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PHOTO

PHOTO

PHOTO

NOT

NOT

NOT

AVAILABLE

AVAILABLE

AVAILABLE

Robyn Berry

Evtex Property Alliance Houston

Bud Turner

Bearden Development Houston

Ron Bateh

Center Resources Sugar Land

residential and retail property, one of which includes developed lots at aggressive pricing. Dimare: Cash buyers can find opportunities right now. However, we’re seeing more activity now in people looking for 3 month - 3 year bridge loans. Goldstein: Motivated sellers are offering properties at deep discounts versus where they were before. Some are excellent buys if they have the right economics. Distress property opportunities are problematic. Most of the shopping centers being foreclosed are nearly vacant. Lender note sales are becoming more prevalent and could produce high returns for the right deal with higher risk. Some are available on an individual basis. We are actually listing and marketing distressed loans. There are large pools of loans from failed institutions that are being offered by FDIC. However, these are priced out of the market for the small - mid size investors and they are only being offered to “qualified investors”. Let’s hope that the government has made the first move toward helping CRE owners with TALF CMBS program. Garcia: Opportunities for the cash buyers and the sellers with aggressive pricing. Wile: There are great opportunities for those who are well placed financially and can act quickly. However, some buyers are reticent because they think and hope that prices will drop further. Greenberg: I’m seeing a lot of owners/users looking for 5000 - 15,000 SF properties and the majority have established banking relationships. Whereas lenders were looking for 20%/80%, they are now looking for 35/65. However, some sellers are offering short term secondary financing. Turner: We still see a lot of entrepreneurs and some well funded start-ups. A lot of our small business tenants are starting new ideas I would never have foreseen and they are across all industries.

Scott Rubenstein Pipeline Realty Houston

Tim Opatrny TAO Interests Houston

Matt Dilick

Commerce Equities Houston

Opatrny: The opportunities are with land that is or was ear marked for residential development. Distressed properties in Houston are not easy to find. There are cash buyers in the market today but they are all looking for deals. On the other hand, sellers in Houston are not discounting their prices much. Dilick: Opportunities exist and some are being solidified but because of limited lender financing you must have a sound location with strong users. Beard: All types. Everyone - tenants, investors and buyers - are all looking for “below market” deals. As balloon notes come due, lease up struggles or occupancies decline, participants are looking to capitalize on these retailers. Crosswell: I think the opportunities have not shown themselves yet. It was a great run we had, and a lot of the developers and land owners, commercial real estate owners have staying power. You won’t see a whole bunch of give-back (default) But some of the properties that were built and the acquisitions made in 2006, 2007, 2008 might have been bought on highs with too much leverage and they may have some issues trying to keep those properties through a downtrend.

REDNews: Are you more optimistic today than you were at the beginning of the year? Vickers: I could be more optimistic about the future if we could have silence from Washington for 60 - 120 days! Just about the time the buyers and tenants start thinking about doing deals again, some goofy policy/legislation comes out of Washington! Bathija: Yes. The New TALF program which launches in June should help CRE lending. Bromley: Absolutely! We are beginning to see some interest in all sectors - retail, commercial and residential.

Bateh: There is still plenty of opportunity and activity in the environment we are in today - our clients tend to pay extra attention to the appearance of their centers making them more attractive to prospective tenants. As a result, we are steadily cleaning, completing build-outs and vanilla boxing vacancies for immediate lease in and around the Houston Metro area.

Dimare: Yes, I think the worst is behind us.

Rubenstein: Most of the opportunities we’re finding today are on the buying side in trying to grow our business. It’s no secret that it’s a buyer’s market. But availability of capital is still the big issue.

Wile: We understand the gravity of the issues: which ones are within our control and which ones are beyond our control. However, as developers, we’re naturally optimistic!

Goldstein: Yes, we’re seeing more activity. Garcia: I’ve always seen this downturn as “opportunity”. That hasn’t changed!

Jeff Beard

The J. Beard Real Estate Co. The Woodlands

Allen Crosswell Crosswell Torian Houston

Greenberg: I expect it will be 2010 yearend before we see a turnaround. There is a lot of CRE money maturing and unless you have a solid relationship with your lender, it could be a problem. However, banks are not in the real estate business. The last thing they want to do is take back property. They want back what they gave out - their money, so they are inclined to work out loans if possible. I think we may be looking at hyper-inflation in the future. Berry: Yes. Our phones are beginning to ring. Turner: I have no expectations that 2009 will be as good as 2008 overall, but our occupancy rate across all of our properties is up slightly from January 1. Bateh: Yes, we are. Early on market outlook may have been uncertain; however, Houston is still one of the most attractive cities for real estate investment and business opportunity. I don’t think we will be adversely affected as we come out of this recession. Houston markets will continue to gain strength. Rubenstein: We’re optimistic about opportunities to increase our market share, but we’re still doing everything we can to shore up our existing portfolio. The struggles in the oil and gas energy in Houston will continue into the foreseeable future and this impacts every other industry in our area. Opatrny: Yes. My general sense of the market is that a shift is taking place. Lenders are beginning to lend and there is a bit more confidence that the economy and real estate markets are slowly improving. Dilick: Yes. Business is a progressive state of improvement of performance and our job is creating optimistic opportunities that make economic business sense. Beard: Yes, although I feel we still have some downside to go in this market, especially in a few sectors. However, once signs of stabilizing values appear, that will give participants some added confidence. Crosswell: I’m more optimistic now than I was a year ago, primarily because I felt this coming and now we’re in it so we’re closer to being out of it. It’s kind of like when you were a kid and you did something bad and you knew you were going to get a spanking. Well, now we’re getting the spanking, but it’s almost over.

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Central / South Texas Austin | San Antonio | Rio Grande Valley

CENTRAL / SOUTH TEXAS

Calendar of Events Sunday

Monday 1

Tuesday 2

Wednesday 3

11:30am to 1:00pm

8

9

Friday

4 CCIM Luncheon

7

Thursday

10

5

CTCAR Commercial Expo

Saturday

Texas Events Austin

6 SABOR Bus Tour 7:30am to 2:00pm

5:00pm to 8:00pm

11

12

13

IREM Luncheon

11:30am to 1:00pm

CREW Luncheon

11:30am to 1:00pm

CLBA Luncheon

11:30am to 1:00pm

IREP Meeting

11:30am to 1:00pm

14

15

16 CREW Luncheon

11:30am to 1:00pm

17

CTCAR Property Information Exchange 7:00am to 9:00am

IREM Luncheon

11:30am to 1:00pm

3:00pm to 8:00pm

GSABA Fishing Tournament

5:00am to 7:30pm

11:30am to 1:00pm

18

NAHREP Meeting

GSABA Fishing Tournament

19

BOMA Luncheon 11:30am to 1:00pm

CCIM Lunch Arounds

20

22

23

24

25

12:30pm to 4:30pm

26

27

RECA Luncheon CREW Dine Around 5:00pm to 7:00pm

IREP Meeting

11:30am to 1:00pm

11:15am

WCR Meeting 11:00am

29

For more information on

CALENDAR OF EVENTS log on to

30

June 2009 Serving

Texas

For Over 15 Years

CCIM ......................http://chapters.ccim.com/ sanantoniosouthtexas CREW .....................www.crew-sanantonio.org IREM........................ www.iremsanantonio.org IREP....................................... www.sairep.com RECSA........................www.recsanantonio.com SABOR (RCA) .......................... www.sabor.com GSABA .............................www.sabuilders.com SIOR (South Texas Chapter) ....... www.sior.com

CCIM Luncheon

11:45am to 1:00pm

28

AMBA .............................. www.austinmba.org BOMA ............................ www.bomaaustin.org CCIM................................ www.ccimtexas.com CLBA .............................. www.clbaonline.com CRE...............................................www.cre.org CREW ............................ www.crewaustin.com CTCAR............................ www.ctcaronline.com IREM................................ www.iremaustin.org NAHREP....................... www.nahrepaustin.org NAIOP........................... www.naiop.org/austin RECA .............................. www.recaonline.com SIOR (South Texas Chapter) ....... www.sior.com ULI .................................... www.austin.uli.org WCR ..................................www.austinwcr.org

San Antonio

IREM Mardi Gras Bowling Tournament

11:30am to 1:00pm

21

Commercial Organization Contacts

Email your events to: Jonathan@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.

Phase Engineering’s reports comply with the EPA AAI Environmental Site Phase Assessment Requirements. Call us for details on how this could affect your real estate transaction. -ELANIE&REGOE%DMUNDSON 0' *AMES$ISMUKES 0%

0HASE)))%NVIRONMENTAL3ITE!SSESSMENTS &ULL2ANGEOF0ROFESSIONAL%NVIRONMENTAL3ERVICES

800-419-8881, ext. 247

WWWPHASEENGINEERINGCOMsMELANIE PHASEENGINEERINGCOM

6

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June 009

,ENDER!PPROVED ,ICENSED#ERTIlED


Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to Jonathan@REDNews.com

IREM San Antonio Luncheon May 14 (L to R) Jamie Denton, Chapter President and Terry Britton, Senior VP Real Estate Development, Port San Antonio.

IREM San Antonio Luncheon May 14 (L to R) Joe Gross, Cindy Vyvlecka, and Bob Wright.

CTCAR Property Information Exchange May 14 (L to R) Paul Ott with The Paul Ott Co., Adeline Rem with Celtic Bank, and Mike Doerr with Keller Williams Realty.

CTCAR Property Information Exchange May 14 (L to R) CTCAR Property Information Exchange May 14 Mike Joe Linsalata with Linsalata Realty Services, Adeline Rem with Doerr of Keller Williams Realty speaks. Celtic Bank, and Mike Looney with Kennedy Wilson.

IREM San Antonio Luncheon May 14 (L to R) Jeannie Swain, Sally Flanagan, Cherry Smith, and Kathy Neilson.

9th Annual Power Luncheon May 1 (L to R) Guest; Rick Albers with Kuperman, Orr and Albers, P.C.; and Jerry Heare with NAI Austin.

9th Annual Power Luncheon May 1 (L to R) Craig Douglas 9th Annual Power Luncheon May 1 (L to R) Kay Andrews with SmithRobertson, Brad Knippa with Jackson Walker L.L.P., with Amelia Bullock Realtors, Tiesa Hollaway with North and Michael O’Malley with Pennybacker Capital. American Title, and Mary Guerrero-McDonald with GuerreroMcDonald & Associates.

ICSC Las Vegas 2009 May 18 Albert Gonzales, Laura Guerra, Fred Gonzales and Donna Jackson with Development Corp of Mercedes at their ICSC booth

ICSC Las Vegas 2009 May 18 Pohl Brown & Associates at their

ICSC Las Vegas 2009 May 18 Brookfield Properties at their

ICSC Las Vegas 2009 May 18 Lincoln Property Company at

ICSC Las Vegas 2009 May 18 The ICSC booth of Venture

ICSC booth

ICSC Las Vegas 2009 May 18 The Cushman Wakefield booth at ICSC

their ICSC booth

ICSC booth

CENTRAL / SOUTH TEXAS

IREM San Antonio Tour Milam Building IREM is working closely with UTSA to encourage students to look into real estate management.

Commercial, Quick & Co., Klein & Associates, and Rohde Ottmers Siegel

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Central / South Texas | Announcements & Deals Done

CENTRAL / SOUTH TEXAS

For a full report of Texas Announcements & Deals Done, log on to www.REDNews.com | Send your Press Releases to Jonathan@REDNews.com CARTER BREED JOINS CBRE ANNOUNCEMENT: Austin - Carter Breed has joined CB Richard Ellis as an associate, specializing in land transactions in Austin and the Central Texas region. Breed was previously president with Wessex Capital Inc. Austin Business Journal 4/6/09

Andy Besing Grubb & Ellis San Antonio

Annie Hilton, CCIM Duff & Phelps Austin

Robert Shonk, CCIM Texas Commercial Partners Austin

CCIM DESIGNATIONS AWARDED ANNOUNCEMENT: Austin - The following professionals have been awarded the CCIM designation by the CCIM Institute. The designation was awarded during the Institute

Michael Lateur, CCIM Duff & Phelps Austin

Frank Stier, CCIM

Frank Steir & Associates Austin

Spring Business Meetings held in Fort Worth: Annie Hilton, CCIM of Duff & Phelps, Michael Lateur, CCIM of Duff & Phelps, Robert Shonk, CCIM of Texas Commercial Partners, and Frank Stier, CCIM of Frank Stier & Associates. Press Release 5/15/09 MARSHALL DAVIDSON JR. JOINS CHRISTOPHER GILL COS. ANNOUNCEMENT: San Antonio - Marshall V. Davidson Jr. has joined Christopher Gill Cos. as president. Davidson will be handling day-to-day operations, as well as working with lenders and other institutions that have troubled assets on their books. Davidson was formerly with Cross & Company. GlobeSt.com 5/13/09 ALLORA WAY APTS PURCHASED APARTMENT: Killeen - Juniper Investment Group has purchased the 200-unit Allora Way Apartments from JOQ Allora Way Ltd. The 70 percent occupied complex is located at 4101 E. Rancier Ave. Apartment Realty Advisors represented the seller. The buyer was self-represented. GlobeSt.com 5/6/09 SAN BENITO GETS 260-UNIT APTS APARTMENT: San Benito - RightQuest LLC plans to break ground this summer on the Class-A 260-unit Villages of Paseo Real. The two-phase development will be fronting Paseo Real Highway near the US 77/83 Expwy. The first units will be available for occupancy in summer of 2010. Press Release 4/20/09

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June 009

HOLIDAY INN NEAR SEA WORLD HOTEL: San Antonio - Hospitality Management Corp. is developing the Holiday Inn Northwest/Sea World. The 194-room hotel will open in late summer of 2009. The property will have 6,000 SF of meeting space. San Antonio Business Journal 4/29/09 THREE HOTELS CHANGE HANDS HOTEL: Austin - Apple REIT Nine has purchased three hotels from Vista Host Inc. for $47.2 million. The portfolio includes the 93-room Hampton Inn at 110 Dell Center Blvd. in Round Rock, the 124-room Hampton Inn at 3908 W. Braker Ln. in northwest Austin and the 97-unit Homewood Suites at 10925 Stonelake Blvd. in northwest Austin. Hodges Ward Elliott brokered the transaction. GlobeSt.com 4/20/09 118-ROOM FAIRFIELD INN OPENS HOTEL: Schertz - Marriott International Inc. has opened a 118room Fairfield Inn & Suites at 5008 Corridor Loop Road in Schertz. It will operate as a Marriott franchise, owned by Corridor Hotel II Ltd. of San Antonio. The hotel is 15 miles from the San Antonio International Airport. San Antonio Business Journal 5/6/09 KERBY DEVELOPMENT WANTS 101 RANCH LAND: Austin - James Kerby of Kerby Development LLC is trying to buy 1,600 acres off of FM 1826 once known as the 101 Ranch. Kerby plans to sell 15 ranches, 100 acres each, to families and individuals. Kerby has named the development XV Ranch. Austin Business Journal 4/30/09 70,000 SF MEDICAL OFFICE BEING DEVELOPED MEDICAL: Austin - Live Oak-Gottesman LLC is developing and marketing the 70,000 SF Cedar Bend Professional Center, which will consist of medical and professional offices. The building will be located at the northeast corner of Cedar Bend Drive and MoPac Expressway near St. David HealthCare’s North Austin Medical Center. Austin Business Journal 5/6/09 AMLI SOUTH SHORE BEING BUILT MIXED-USE: Austin - AMLI Residential is developing a 10.9-acre mixed-use development at 1620 E. Riverside Dr. AMLI South Shore will have 375 apartments, 90 for-sale condominiums and 15,000 SF of ground-level retail space. The project is scheduled to be completed by the end of 2010. Statesman.com 4/30/09 EAST VILLAGE NEARING COMPLETION MIXED-USE: Austin - East Village, a mixed-use project at 1200 E. 11th Street is almost complete. When finished, it will have 18 condos and 6,000 SF of retail space. The retail space is fully leased or sold, while the housing units are 70 percent sold, according to Esperanza Development, the developer. Austin Business Journal 4/29/09 TRANSWESTERN MANAGING 900,000 SF PORTFOLIO OFFICE: Austin - Transwestern is now overseeing two class B office portfolios totaling 897,057 SF. DivcoWest Real Estate Investments is turning over the management reins of its 460,600 SF portfolio to Transwestern, while financial institution UNUM Group has charged Transwestern with management and leasing of its 436,457 SF portfolio, which it received from former owner Equastone. GlobeSt. com 4/9/09 ONEWEST BANK LEASES 173,962 SF OFFICE: Austin - OneWest Bank Group has leased a 173,962 SF office building in North Austin to accommodate its growth. OneWest will occupy the Domain Gateway office building, which Endeavor Real Estate Group is building near Burnet Road and Braker Lane. Statesman.com 4/20/09 OFFICES AT EAST AVE GETS FINANCING OFFICE: Austin - East Avenue Office Holdings LP, developers of the 215,000 SF Offices at East Avenue, landed $39 million in construction financing for the office project, which is the first phase

of a 2.8-million SF mixed-use development on the former site of Concordia University. The office project is part of a development that will include office, retail, multifamily and a hotel. GlobeSt. com 5/5/09 MCALLEN DISTRICT OFFICE COMPLETED OFFICE: McAllen - Developer Harwood & Associates has completed the new four-story McAllen District Office at 1200 N. Commerce Center. The facility consists of 54,300 SF of office, 14,270 SF of warehouse and 11,500 SF of additional space. Commercial Property News 5/4/09 STAR RIVERSIDE CONSTRUCTION UNDER WAY RESIDENTIAL: Austin - Constellation Property Group has begun construction on the first of two phases of its $150 million Star Riverside condominium project at I-35 and East Riverside Dr. The first phase is scheduled to be completed in first quarter 2010. It consists of 64 units in two six-story buildings. Statesman.com 4/23/09 HILL COUNTRY GALLERIA POSTED FOR FORECLOSURE RETAIL: Bee Cave - The $192 million Hill Country Galleria, on Texas 71 between RM 2244 and RM 620, has been posted for foreclosure according to Opus West Corp., which co-developed and manages the mall. The mall’s owners had been unable to refinance the project’s construction loan. It will operate as usual while Opus tries to resolve the situation with its lenders. More than 70 percent of its 1.3-million SF is leased. Statesman.com 4/16/09 FORMER COMP USA LEASED RETAIL: Corpus Christi - NAI Cravey Real Estate Services, Inc. in conjunction with Keller Williams College Station negotiated a lease with SPID Corpus Development, LLC for 12,502 SF at 5701 S. Padre Island Drive (former Comp USA). SPID Corpus Development LLC was represented by Jaime Batten with Keller Williams. Matt Cravey and Lynann Pinkham represented the out of state owner in the negotiations. SPID Corpus Development LLC will operate a cancer treatment facility at the property. Press Release 5/14/09 AQUARENA PLAZA BROKEN GROUND RETAIL: San Marcos - Developer Vance Elliot Ground has broken ground on Aquarena Plaza in San Marcos. The project is located at the intersection of Aquarena Springs and Thorpe Lane, next to Mamacita’s Mexican Restaurant. It will have 20,000 SF of restaurants, retail and office space. Press Release 4/28/09 ZLB BIOPLASMA LEASES 20,000 SF RETAIL: Corpus Christi - NAI Cravey Real Estate Services, Inc. of Corpus Christi and NAI Merin Hunter Codman of Boca Raton, FL, negotiated a lease with ZLB BioPlasma, Inc. for 20,000 SF at Mission Plaza. Mission Plaza, a 162,000 SF shopping center, is located at 4977 Ayers Street. Press Release 5/4/09 H-E-B IN DRIPPING SPRINGS RETAIL: Dripping Springs - H.E. Butt Grocery Co. will develop a 65,000 SF H-E-B store in a shopping center near the intersection of RR 12 and US 290 in Dripping Springs. The store will also have a 9,600 SF retail space to lease to others and a fueling station, with an additional 20,000 SF reserved for future development. Austin Business Journal 4/24/09 FIVE GUYS FAMOUS BURGERS EXPANDS RETAIL: Austin/San Antonio - Five Guys Famous Burgers & Fries announces the opening of three new locations. A 2,605 SF space at Market Heights Shopping Center in Harker Heights; 2,208 SF space at Quarry Village Shopping Center in San Antonio; and 2,497 SF space at 3208 Guadalupe in Austin. Mike Minicucci, Robert O’Farrell, and Todd Wallace of SRS Real Estate Partners represented Five Guys. Jennifer Hargis with Reata represented the landlord for the Quarry Village Shopping Center and Megan Kneipp with Direct Development represented the developer/landlord for Market Heights Shopping Center. Press Release 4/20/09


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Oak Hills Country Club, 5403 Fredericksburg, San Antonio, TX 78229 June 9, 2009 at 11:30am for more information visit: www.crew-sanantonio.org or email: admin@crew-sanantonio.org

Price • $3,000,000 ($63.92 PSF) Location • I-35 to San Marcos. Take exit 201 and go north on the access road to Clovis Barker Dr. Right on Clovis Barker Dr. and left on Civic Center Loop. Zoning, Platting, Utilities • Zoned heavy industrial • Platted 6.4 acre lot • All utilities in place including natural gas Building Details • 40,500 SF (90’ x 450’) insulated metal building with engineered slab • 46,932 SF total square footage with some of the building being on two floors • 44,265 SF manufacturing space, of which 4,965 is air-conditioned • 2,667 SF air-conditioned office space - two levels • (3) 8’ x 10’ overhead dock-high doors • (1) 10’ x 10’ overhead ramp style grade level door • 24’ eve height • 124 parking spaces • Fire sprinkler system in place • Fenced lot area

CENTRAL / SOUTH TEXAS

Instructors: Karl Wagner, CCIM & Troy McClendon, CCIM

IREM Austin Announces Mardi Gras Bowling Tournament June 19th • 12:30pm - 4:30pm 9504 North IH-35, Austin, Texas

Don Garrett, CCIM phone 512-353-1776 fax 512-353-1773 cell 512-757-2814 dgarrett@ccim.net

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Opportunities & Optimism

CENTRAL / SOUTH TEXAS

by Teresa Talerico for REDNews

Bradley Bailey

Associate VP of Investment & Director National Group Marcus & Millichap - Austin

Cynthia Ellison, CCIM Senior Vice President Grubb & Ellis San Antonio

Bradley Bailey, associate vice president of investment and director within the national group at Marcus & Millichap in Austin; Cynthia Ellison, CCIM, senior vice president of Grubb & Ellis in San Antonio

REDNews: How is your company positioning itself in today’s market environment? Bradley: What we’re taking is a very constructive role with the investment owners of commercial real estate and trying to provide as much information on the market as it changes week to week and day to day. There are a lot of people looking for a direction and which way to turn and more information. (They want to) understand better what’s going on. I don’t know that a lot of investors are seeking that counsel. Our company is trying to position ourselves from an investment point of view to let them

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central business district. There are high vacancies down there, partially due to AT&T relocating to Dallas. Because vacancies are high, rents are less. There are opportunities for tenants to get inexpensive deals.

Cynthia: We’re getting more creative in how we market properties and what kinds of deals we broker. For example, an opportunity might be to teach someone about sale leaseback. … Over the next five years, we’re going to see a lot more sale leaseback; it’s a great way to gain capital with very little expense.

Bradley: I’m a lot more optimistic right now. ...Everybody is scrutinizing their rents and making sure that they’re getting as much as possible, but they’re also looking at the operational side on expenses. So we’re back to the fundamentals of understanding and running real estate from day to day. When things were good, I don’t think people were necessarily doing that. I think we got into a situation where it was good times and you start letting your foot off the gas. Next thing you know, you’re not paying attention and you swerve a little bit. I’m optimistic on the direction that the market needs to go and what people need to do. I’m optimistic that the market’s going to get better and there will be more velocity back to the market.

REDNews: What opportunities do you see in today’s market? Bradley: In Austin and Central Texas, all the buyers are looking for opportunities in distressed assets and repurchases from banks. Everybody’s trying to jump on the bandwagon and figure out if there’s a huge deal out there. We’re just not seeing those things start to shake out to the numbers and velocity that everybody thinks might happen. I don’t know whether it will or not.

REDNews: Are you more optimistic today than at the start of the year?

On the value side, I’m not optimistic there; I believe we’re going to see a hit in Texas.

However, for long-term-hold investors, opportunities will present themselves for those who can rely on local or regional experts and understand the real estate. Cynthia: In San Antonio the opportunities right now are in the

Growth and Development Opportunities Along the I-35 Corridor by Janis Arnold for REDNews San Antonio’s Real Estate Council met on May 6 at the Petroleum Club to discuss Growth and Development Opportunities along the I-35 Corridor. Adams & Polunsky, Ad Valorem Tax Advisors, sponsored the breakfast meeting. Speaking to council members about the advantages and development incentives available in some of the I-35 corridor cities were representatives from New Braunfels, Schertz, and Live Oak. Michael Meek and Robert Carrino from the city of New Braunfels reported on the city’s Benchmark Survey 2008 results, noting that New Braunfels continued to experience unprecedented growth through the end of 2008 with median income in the city having increased 48% in the last five years. Employment was up 8.85% during 2008, residential property valuations increased over 87% in the past six years, and commercial property valuations increased 77.5% from 2003. Building permits thus far in 2009 show a slight decline, but there are recent ‘glimmers of hope’ noted as permit applications appear to be increasing.

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know what’s happening right now from a lending perspective, what’s happening from a rental perspective, what’s happening from the expenses and tenants and all the other factors that go into the operation and fundamentals of commercial real estate, so they can make an informed decision about what to do with their investment and how it meets their investment goals. … We’re trying to enlighten people and inform them about what may or may not happen in the next two to three years.

June 009

In December of 2008, Caterpillar announced a major facility in Seguin and HEB announced the expansion of their distribution center in San Marcos signaling the movement of new jobs and capital investment dollars into the tri-city area of New Braunfels, San Marcos and Seguin. New Braunfels’ largest private employer, The Scooter Store, also announced growth plans, and the city representatives discussed the incentive package that was provided to the company. David Harris and George Antuna from the city of Schertz discussed all of the major infrastructure improvements and planned improvements that are contributing to the city’s attractiveness to developers. The city currently has an excellent reliable water source, which is a big part of the reason that sales tax revenues and building permit applications are still up when compared to previous years. Other positive factors noted are: proximity to transportation, excellent average per capita retail expenditures, and the number of businesses and financial institutions already in the city. The city has developed a business retention expansion program that starts off asking current business owners what

the city can do to meet their needs. The city of Schertz is excited about commuter rail and exploring low cost financing for small businesses. David Harris, speaking for the city to Council members, said, “We’re here to do business and we want to work with you!” Matt Smith, Scott Wayman, and Carol Buttler from the city of Live Oak described their approach to overtures from developers as being characterized by a streamlined platting and permit process. They announced that when considering incentives, they will “look at any thing that is legal in Texas.” The city’s largest retail establishment is the Forum Shopping Center, located at the intersection of I-35, 1604, and Pat Booker Road. The Forum ‘really put Live Oak on the map’ and continues to attract shoppers from throughout the region. Another attractive feature of the city of Live Oak is that the residential and commercial sections of the town are somewhat separate. Live Oak is currently working to develop a downtown area and notes that the city park with the lake is very attractive to residents and visitors alike.


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8000 Centre Park

1300 Anderson LE AS E

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

• • • • • • • •

‘Suite A’ For Lease +/- 59,421 sf Building area: +/- 117,682 sf. Office finish: 1,160 sf +/Concrete tilt-wall construction, Built in 2004 10 overhead doors 24 gauge standing seam roof system Ceiling height – 20 to 24 foot clear Asphalt parking with concrete trailer pads Contact: Mike Mangum (mmangum@tarantino.com) 210-212-6222

Windsor Park Place LE AS E

8000 Centre Park • Austin, TX 78754 Join this first class, 3 story, 65,000 SF office building TODAY! Brand new finishes offered in all office suites From 472 SF to 4,248 SF available immediately Located in the Walnut Creek Business Park just east of I-35 and north of 183 • Card key access, easy drive-up parking, professionally managed • Contact: Nick Tarantino (nick@tarantino.com) 512-302-4500

LE AS E

8411 Gavin • Laredo, TX 78045

• 4,500 SF available • NW San Antonio with easy access to IH-10 and 1604 • Close to South Texas Medical Center, USAA, La Cantera & the Rim • Functional and flexible floor plans, some with overhead doors and 14 ft ceilings • 4/1000 SF parking ratio • On-site management • Contact: Mike Mangum (mmangum@tarantino.com) 210-212-6222

• • • •

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1300 Anderson • Austin, TX 78752 • 10,000 to 153,000 SF of space available immediately across 3 buildings • Office, Flex, and Light Industrial Space • Easy access to Hwy 183, Hwy 290, Hwy 130 toll road and I-35 • 24 ft ceiling clear heights • New roofs installed in 2007 on 3 buildings • Contact: Nick Tarantino (nick@tarantino.com) 512-302-4500

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

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

CENTRAL / SOUTH TEXAS

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4941-4977 Walzem • San Antonio, TX 78218 • • • • •

Available suites sizes from 1,500 to 12,700 sf Priced from $9 to $17/sf High traffic count in excellent demographic area Highly visible pylon sign Tenants include: Nationwide Insurance, Curves for Women, H&R Block, Subway • Contact: Mike Mangum (mmangum@tarantino.com) 210-212-6222

www.tarantino.com

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North Texas Dallas | For t Wor th

Calendar of Events Sunday

Monday 1

Tuesday 2

Wednesday 3

Thursday 4

BOMA Dallas Ethics Course

8:00am to 4:30pm

Friday 5

Saturday 6

REFEA Golf Tournament

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

12:00pm

NORTH TEXAS

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

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CCIM.................................... www.NTCCIM.com CREW Dallas ....................www.crew-dallas.org

IREM Dallas Luncheon

BOMA Dallas Skeet & Trap Tournament

11:30am to 1:00pm

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

Starting at 10:30am

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

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

CREW Dallas Luncheon

NTCAR DFW Retail Trends Conference

11:30am

11:00am to 5:00pm

SIOR Chapter Meeting

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

NTCCIM Luncheon 11:30am to 1:00pm

REFEA ........................................www.refea.org

TBA

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

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TREC .................................. www.recouncil.com ULI ..............................www.northtexas.uli.org

For more information on

CALENDAR OF EVENTS log on to

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June 2009



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June 009

Email your events to: Jonathan@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 Jonathan@REDNews.com REDNews.com

CCIM Spring Meeting Fort Worth April 23 (L to R) Joe Garrett and Allen Gump, both with Colliers International.

CCIM Spring Meeting Fort Worth April 23 CCIM Institute President Mac McClure of The McClure Group presents new Designees, including Daniel C. Eng of T.K. Eng & Associates (pictured in cowboy hat).

CREW Dallas Luncheon April 15 (L to R) Marti Nemer, current president of CREW Dallas, with Jones Lang LaSalle greets guest presenter, Dr. Ted C. Jones at the March luncheon/meeting. Over 150 attended the event.

CREW Dallas Luncheon April 15 Enjoying the CREW event are CREW Dallas Luncheon April 15 Executives with CDK Realty members of the program committee: (L to R) Jeanne St. John, Advisors, sponsors of the luncheon meeting, are (L to R): Regina chairman, with Fairways Equities and Tiffany Roberts, co-chair Weaver, CREW member, and Ken Cooley. with Duff & Phelps, LLC.

CREW Careers: Building Opportunities Project May 4 The judges selected included (L to R): Kristian Telkeki, Senior VP of Matthews Southwest, owner of the building; Martha Jansen, assistant editor with The Dallas Morning News; with Entonya Senigaur, event chairman and project manager for CB Richard Ellis/Health Care Services; Wanda Brice, executive director of The Women’s Museum; and Jill Warren, VP administration real estate development for Jackson-Shaw.

CREW Careers: Building Opportunities Project May 4 The winning team from the Irma Lerma Rangel School are pictured in the first row: (L to R) Bianca Williams, Stephanie Garza and Lillian Ramirez. Congratulating them are the sponsors of the CREW Careers: Building Opportunities Project that was held at the Women’s Museum, second row: (L to R) Martha Jansen with The Dallas Morning News, media sponsor; Jill Warren, VP administration real estate development for Jackson-Shaw, Champion Sponsor; and Rob Rothrock, vice president of NexBank, Associate Sponsor.

Duke Realty Takes NAIOP North Texas Developer of the Year Award (L to R) Greg Fuller, President of NAIOP North Texas; Jeff Thornton, Senior Vice President, Duke Realty Corp.; and Pax Glenn, Awards Committee Chairman, NAIOP North Texas.

TREC FightNight April 30 (L to R) Mark Elfenbein; Steve Crosson of Crosson Dannis, Inc. and TREC Boxing Chairman; and Jimmy Lennon, Jr., boxing announcer.

TREC FightNight April 30 (L to R) Steve Bancroft of Crow Holdings and TREC FightNight Chairman; Susan Gwin; and Chris Teesdale of Colliers International.

TREC FightNight April 30 (L to R) Tom Garner of Fidelity Na- TREC FightNight April 30 (L to R) Behringer Harvard’s Jason tional Financial; Jon Napper of Courtland Development; Joycelyn Maddox, Jim Fant, Gary Breskey, Robert Behringer, and Jon Armstrong; and Dennis Noebel of Chicago Title. Dooley.

TREC FightNight April 30 (L to R) TREC Chairman Michele Wheeler of Jackson Shaw, TREC Vice Chairman Chip Cavanaugh of Munsch Hardt Kopf & Harr PC, and TREC President Michelle Corson.

CCIM Spring Meeting Fort Worth April 23 North Texas Board Members with CCIM Institute Board Members. (L to R): Joe Garrett; Susan McClure; Jonathan Salk, Institute Executive Director; Richard Juge, Institute President Elect; Steve Williamson; Mac McClure, Institute President; Frank Simpson, 1st Vice President; unknown and Alex Johnson.

NORTH TEXAS

CCIM Spring Meeting Fort Worth April 23 (L to R) Steve Williamson with Transwestern and Allen Gump with Colliers International.

TREC FightNight April 30 (L to R) Republic Title’s MaryBeth Shapiro, Raelyn Rosemond, Ashley Westfall, and Vicki Summerall.

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North Texas | Announcements & Deals Done For a full report of Texas Announcements & Deals Done, log on to www.REDNews.com | Send your Press Releases to Jonathan@REDNews.com located at 601 N. Park Blvd. is 95 percent occupied. Marcus & Millichap Real Estate Investment Services represented the seller. GlobeSt.com 4/14/09 WILLOW POND APTS ACQUIRED APARTMENT: Dallas - Local buyer WPA Investment Group Ltd. has purchased the 387-unit Willow Pond Apartments, saving it from foreclosure. The property is located at 6003 Abrams Road. GlobeSt. com 4/6/09

David Parker

NORTH TEXAS

Partner Holt Lundsford Commercial

Matt Carthey

Partner Holt Lundsford Commercial

HOLT LUNSFORD NAMES TWO PARTNERS ANNOUNCEMENT: Dallas - David Parker and Matt Carthey have been named Partners at Holt Lunsford Commercial. David Parker joined Holt Lunsford Commercial in August 2004 as Chief Operating Officer to expand and lead the operations and business growth of the company. Matt Carthey joined Holt Lunsford Commercial’s Dallas Marketing Division in January 2005. In June 2007, he was appointed Managing Principal and charged with opening the company’s Fort Worth office. Press Release 5/6/09 NAIOP DEVELOPER OF THE YEAR AWARD ANNOUNCEMENT: Dallas - Greg Fuller, current President of NAIOP North Texas, announced that Duke Realty Corporation has won the prestigious “2008 Developer of the Year” award. NAIOP’s Developer of the Year award is presented annually in recognition of an organization’s outstanding achievements, and is open to firms that developed 200,000 SF or more of commercial space between 2007 and 2008. Press Release 5/12/09 EDGE REALTY PARTNERS OPENS FOR BUSINESS ANNOUNCEMENT: Dallas - Commercial real estate veterans are joining forces to form EDGE Realty Partners, a real estate firm that will offer clients development, brokerage and investment services with a focus on retail. EDGE Realty was formed by Adam Schiller and Brian Murphy. Schiller and Murphy served as principals at Austinbased Endeavor Real Estate Group and purchased the firm’s Dallasarea assets. The pair will run their corporate office at 5950 Berkshire Lane in Dallas. Press Release 4/15/09 CONTI BUYS 232-UNIT BANK OWNED PROPERTY APARTMENT: Dallas - The Conti Organization purchased the 232-unit Eastfield Village in Dallas directly from an unnamed bank for less than $14,000 per unit. Built in 1969 and sitting on a sprawling 14.7 acre site adjacent to Eastfield College, Eastfield Village was a classic turn-around property. The property will be renamed to Villa Bonita Apartment Homes and will undergo a $700,000 rehabilitation that includes a complete exterior facelift. Press Release 4/17/09 WOODRIDGE APTS CHANGE HANDS APARTMENT: Sherman - Hendricks & Partners announced the sale of Woodridge (200 units), located at 301 Highway 1417 North in Sherman, TX. The seller was Centerline Servicing Inc./Wells Fargo Bank, N.A. Trustee for DLJ 2000 CKP1 of Irving, TX. The buyer was Trost Living Trust of Dallas, TX. The transaction was negotiated by Tom Burns and Jay Gunn of the Dallas office of Hendricks & Partners on behalf of the seller. Press Release 5/5/09 ROSA VISTA APTS SOLD APARTMENT: Dallas - The 103-unit Rosa Vista was sold to a syndicator from Miami, FL. The property is located at 3738 Legendary Lane in Dallas. Derrick Caballero of Phillips Commercial represented the purchaser while Todd Franks and Sam Pettigrew of The Cantrell Company represented the seller. Press Release 4/23/09 MOSAIC BUYS OAKS AT PARK BLVD APARTMENT: Grapevine - Mosaic Residential Inc. has purchased the 216-unit Oaks at Park Blvd. from Lynd Co. The Class-B complex

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FLEX-N-GATE GOES FROM SUBLEASEE TO SOLE TENANT INDUSTRIAL: Arlington - Flex-N-Gate Texas, LLC leased 186,344 SF at 2400 Centennial Drive in Arlington. Flex-N-Gate, former subleasee, enlisted Pete and Drew Richardson of Henry S. Miller Brokerage, LLC as their tenant-representation to negotiate the terms of a new lease. Press Release 4/15/09 LEE & ASSOCIATES COMPLETES INDUSTRIAL LEASE INDUSTRIAL: Carrollton - Lee & Associates DFW completed a 68,000 SF lease transaction at 13950 Senlac in Carrollton, TX. Ken Wesson of Lee & Associates DFW represented the tenant, Metal Link, Inc., while Scott Moore represented the landlord, The Realty Associates Fund IV, LP. Press Release 4/23/09 PACE SHAVE BUYS INDUSTRIAL BLDG INDUSTRIAL: Mount Pleasant - Pace Shave has purchased the 162,290 SF building at 1106 Industrial Blvd. from Mastercraft. The facility includes up to 27-foot clear ceiling heights, truck loading capability and rail access. Pace Shave plans to use it as a regional distribution center. Philadelphia-based Binswanger represented Mastercraft in the transaction. Press Release 4/22/09 SERVPRO BUYS 24,272 SF BLDG INDUSTRIAL: Fort Worth - SERVPRO of Lake Arlington acquires a 24,272 SF building located at 4809 Century Drive in Fort Worth. The buyer was represented by Jim Hazard and Todd Hawpe of Henry S. Miller Brokerage, LLC. The seller, Conti Partners, Ltd, was represented by J. Searcy and Chris Stewart of Coldwell Banker, Searcy and Vassuer Group. Press Release 5/14/09 ORTHOFIX INT’L CHOOSES LEWISVILLE INDUSTRIAL: Lewisville - Orthofix International NV has chosen to set up its 144,000 SF regional headquarters, manufacturing and distribution facility in Austin Ranch on eight acres at the corner of Plano Pkwy. and Tittle Dr. The building is expected to be finished early next year. Orthofix was represented by Jackson Cooksey of Dallas. The developer, Billingsley Co., was self-represented. GlobeSt. com 4/16/09 HARD CORNER SOLD TO INVESTOR LAND: Grand Prairie - Pete Richardson and Andrew Richardson of Henry S. Miller Brokerage, LLC completed the transaction of two acres at the corner of Roy Orr Boulevard and Trinity Boulevard in Grand Prairie. TSS Real Estate Holdings purchased the land from local investor and business owner, Edwin Peterman. Peterman, owner of Supreme Golf retail store in Fort Worth, currently leases the 2,500 SF building situated on the property. Press Release 5/7/09 TEXAS HEALTH RESOURCES BUYS 47 ACRES LAND: Fort Worth - Texas Health Resources Inc. has purchased 47 acres at the Landmark Quebec Development located near Loop 820 and Quebec in northwest Fort Worth from LQ Development LLC. Wilson & Stonaker LLC represented the seller. Press Release 4/24/09 279-ACRE CHAMPIONS CIRCLE BEING DEVELOPED MIXED-USE: Fort Worth - Line Diversified Development and Interra Development Group LLC are developing Champions Circle, a $300 million mixed-use development on 279 acres. The project will be built at SH 114 and I-35W and include retail space, offices and residential construction. The project’s first space will be a two-story, 120,000 SF office building. When completed, Champions Circle will contain over three million SF of space. DallasNews.com 4/29/09

60 ACRES PURCHASED FOR MIXED-USE MIXED-USE: Dallas - Developer Richard Seib and Reunion Sports Group LLC have purchased 60 acres on the banks of the Trinity River near downtown with plans to build a $500 million mixed-use project. The development on Industrial Blvd. will be anchored by a minor league baseball park, which is scheduled to open in May 2010. The new owners also envision a water park and hotel, 2,500 apartments, retail and restaurants. DallasNews.com 4/23/09 MILLERCOORS LEASES IN HALL OFFICE PARK OFFICE: Frisco - MillerCoors has signed a five-year lease for 25,271 SF at 2600 Network Boulevard in Hall Office Park for its Southwest Region sales office. The new lease includes an expansion of MillerCoors original 12,357 SF lease signed in August 2006. Jean C. Farris, director of leasing, handled negotiations on behalf of owner and landlord, Hall Financial Group; Bo Estes of Grubb & Ellis represented MillerCoors. Press Release 4/17/09 183,000 SF OFFICE CAMPUS SOLD OFFICE: Addison - Keller Properties has purchased an office campus totaling 183,000 SF. The thirty-year-old, six-building Office in the Park is located at 14673 Midway Road in Addison. Sperry Van NessVisions Commercial in Fort Worth represented the buyer and will manage the property. Press Release 4/21/09 MARCUS & MILLICHAP LISTS 64,267 SF OFFICE CENTER OFFICE: Flower Mound - Marcus & Millichap Real Estate Investment Services has obtained the listing for Silveron Office Center, a 64,267 SF multi-tenant office building located at 601 Silveron Blvd. in Flower Mound. Russell Turman, Ron Hebert, and Micheal Lawrence of Marcus & Millichap are representing the seller, a Dallas-based company. Press Release 5/13/09 SAM MOON TRADING OPENS IN FORT WORTH RETAIL: Fort Worth - Sam Moon Trading Co. is opening its new 168,446 SF shopping center in north Fort Worth. The complex is located at 9120 North Freeway. It will be anchored by a Sam Moon Trading Co. store and a Sam Moon Luggage & Gifts store. DallasNews. com 5/8/09 REDEEMED CHRISTIAN CHURCH LEASES 4,691 SF RETAIL: Grand Prairie - The Redeemed Christian Church of God leased 4,691 SF of retail space at the 43,351 SF Carrier Crossing Shopping Center in Grand Prairie at Pioneer Parkway (Spur 303) and Carrier Parkway. Matt B. Roberts with Paramount Investments represented the landlord in the transaction. Press Release 4/3/09 TOWNE VIEW SHOPPING CENTER SOLD RETAIL: Flower Mound - Brad and Gavin Kam of The Kam Group announced the sale of the 31,939 SF Towne View Shopping Center located in Flower Mound, TX. TKG represented the buyer, a Texas based limited partnership in the sale from the local property owner. Towne View Shopping Center, constructed in 1998, is located off the intersection of Long Prairie Road and Flower Mound Road. Press Release 4/2/09 HFF SELLING 52-PROPERTY PORTFOLIO RETAIL: Irving, Lewisville - Holliday Fenoglio Fowler, L.P. announced that it has been named as a co-advisor for a strategic review of Macquarie DDR Trust’s U.S. based real estate assets and to market for sale a 52-property shopping center portfolio in 20 states. John Pelusi, Barry Brown, Doug Hazelbaker and Lynn De Marco will lead the HFF investment sales team on behalf of the seller. The portfolio includes Lakepoint Crossing in Lewisville and MacArthur Marketplace in Irving. Press Release 4/13/09 NEW YORK GOLD LEASES IN WATAUGA RETAIL: Watauga - New York Gold & Silver leased an additional 2,200 SF of space at 6500 N. Denton Highway in Watauga. John Bielamowicz of Henry S. Miller represented the tenant. US Nails also signed a new lease at the same center. Larry Robbins represented the landlord, Watauga JV 377, in both transactions. Press Release 5/12/09


ANNOUNCEMENTS

NTCCIM June Luncheon Thursday, June 18, 2009 The Park City Club 5956 Sherry Lane, Dallas, Texas 11:30am - Noon: Registration Noon - 1:00pm: Luncheon & Speaker

by Janis Arnold for REDNews Once seen as a model to follow when it comes to urban regeneration, the Victory Park project in Dallas celebrated the 10th anniversary of its formal approval by the city in 2008. The project, planned to include 12 million square feet of office, retail and residential, will eventually span 33 city blocks. The 20,000 seat American Airlines Center sports arena, a 33-story W Hotel, four residential buildings, and three office properties have been completed, with the rest of Victory Park’s components on hold pending a fresh infusion of capital to enable Victory Park to complete planned restaurant and retail development. Changes in the debt market in today’s depressed economic environment have had a negative effect on residents of Victory Park’s high-end condominiums, and the area has not yet achieved the anticipated sales volume needed to support the related retail and restaurant development still planned for Victory Park. To date only 1 billion dollars out of the projected 3 billion that will be spent on development has gone into the retail and restaurant portions of the development. Pullbacks in spending by foreign investors is also a major factor in the overall decrease in 2009 CRE spending. Hillwood (a Fort Worth-based development firm run by Ross Perot Jr.) is in negotiation with its equity partner, UST XVI LP (US Treuhand, a German company), regarding the future of the existing vertical development at Victory Park, according to a recent press release by the development firm. While Hillwood stands to lose an ownership stake in the buildings valued at around $100 million dollars, it is expected to keep control of future development sites in the project and to continue to manage Victory Park. A recent glimmer of hope is found in the March announcement that Hard Rock Café will open a 8900 square foot restaurant on the ground floor of the House, a condominium located at the southern edge of the Victory site. Despite the problems with Victory Park, members of the Association of Foreign Investors in Real Estate continue to see commercial property investments in the U.S. as a safe haven, and expect investments in U.S. projects to pick up when the market hits bottom this year.

AUCTION

AUCTION

Thursday, June 25, 2009 at 2:00 P.M. - ONSITE

COMMERCIAL BUILDING

NORTH TEXAS

What We’re Learning from Victory Park

6540 Camp Bowie Boulevard Fort Worth, Tarrant County, TX 76116 Mapquest 074P

®

Description: This is a former +/- 7,000 SF Bennigan’s restaurant on +/- 40,000 SF of land. This site is located on the highly traveled and historic Camp Bowie Boulevard. Surrounded by retailers such as Pier 1, Kroger, La Madeleine, Jason’s Deli, Taco Cabana, and Good Year. With the reserve price well-below appraisal district value, it is an ideal opportunity for restaurant or pad users who are looking to join the rebirth of a well-known shopping district in Fort Worth. Reserve Price: $700,000

Call (713)722-1250 or visit www.clay-co.com for a complete property information package

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Southeast Texas Houston and Vicinity | Galveston

Calendar of Events Sunday

Monday 1

Tuesday 2

Wednesday 3

Thursday 4

Friday 5

Saturday

Texas Events Houston and Vicinity | Galveston

6

IREM Luncheon

SOUTHEAST TEXAS

11:30am to 1:00pm

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HOLBA Golf Tournament 10:30am

CREW Luncheon

CREN Luncheon

11:30am to 1:00pm

11:00am

NAIOP Membership Meeting

RICH Meeting & Trade Show 8:00am to 4:30pm

11:00am

7

8

9

10

11

12

13

19

20

HRBC Breakfast 7:00am to 8:30am

CREAM Luncheon 11:00am to 1:00pm

CCIM Luncheon TBA

CREN Breakfast

Appraisal Institute Associates Happy Hour

7:00am

TBA

14

15

16

17

CCIM CI-103 Course CREN Breakfast 7:00am

CCIM CI-103 Course 8:00am to 5:00pm

8:00am to 5:00pm

BOMA Luncheon 11:30am to 1:30pm

FBSCR Meeting 8:00am

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18 CCIM CI-103 Course

CCIM CI-103 Course

8:00am to 5:00pm

8:00am to 5:00pm

BACREN Meeting

O’Connor Apartment Forecast Luncheon

GHP Legislative Wrap-Up Luncheon

11:30am to 1:00pm

10:30am to 1:00pm

CCIM CI-103 Course 8:00am to 5:00pm

11:30am to 1:30pm

HOLBA Sponsor Cocktail 5:30pm to 7:30pm

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ACRP Breakfast 7:00am to 8:30am

SIOR Negotiation Skills Course

8:00am to 12:00pm

CREN Breakfast 7:00am

CREN Happy Hour 4:30pm

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ACRP..................................................www.acrp.org *Appraisal Institute ...............www.aihouston.com AAREA ...............................................www.aarea.us BACREN .......................................www.bacren.com BOMA ................................www.houstonboma.org CCIM ............................. http://chapters.ccim.com/ houstongulfcoast CoreNet .............................www.corenetglobal.org CREAM.......................................www.creamtx.com CRE ......................................................www.cre.org CREN...................................www.houstoncren.com CREW.................................. www.crewhouston.org FBSCR ........................................ www.fortbend.org 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 Real Estate Council ............www.houstonrealestate council.org RICH.............................................www.richclub.org SIOR .....................................www.siorhouston.com ULI .........................................www.uli-houston.org * For a complete list of monthly events, visit their website

For more information on

CALENDAR OF EVENTS log on to

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June 2009

June 009

Commercial Organization Contacts

Email your events to: Jonathan@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 ews.com | Send your networking photos to Jonathan@REDNews.com

Colliers Charity Golf Classic April 29 Bob Parsley attempt- SIOR Luncheon May 12 (L to R) Speaker balances a chair ing a swing from “Heat from the Seat”. on his chin while Patti Miller of Mapp Construction stands by and watch.

SIOR Luncheon May 12 Attendees at the SIOR Luncheon.

SIOR Luncheon May 12 (L to R) Justin Bennett with Panat- CREN Spring Seminar May 14 David Brewer with Brewer & CREN Spring Seminar May 14 Michael Butler with Textran- CREN Spring Seminar May 14 Attendees at the CREN Spring toni and Graham Horton of Cushman & Wakefield of Texas, Inc. Escalante speaking at the CREN Spring Seminar. jero at the CREN Spring Seminar. Seminar.

SIOR Commercial Expo April 15 Jim Hurst with the Betz Co and Barbara Cutsinger with Bay Area Houston Economic Partnership

SIOR Commercial Expo April 15th Tarantino Properties at the Commercial Expo

ACRP Spring Fling Networking April 21 (L to R) Dave Gilkeson (ACRP President) with Westchase District and Ty Eckley with Kings Crossing Town Center.

Young Broker Happy Hour (L to R) Lydia Conn with Houstonians for Responsible Growth Happy Hour April Asset Plus, Trey Miller with Moody Rambin, Juli Graves with 11 Alison Brown, Todd Crenshaw and Nik Fusilier at the REDNews, Meaghan Gallacher with Asset Plus and Greg Barra Houstonians for Responsible Growth Happy Hour with Boyd Commercial

SOUTHEAST TEXAS

Colliers Charity Golf Classic April 29 Putt with the President, Pat Duffy (right).

ACRP Spring Fling Networking April 21 (L to R) Chris Pow- ACRP Spring Fling Networking April 21 (L to R) Chris ers and Bruce Walck, both with Powers Brown Architecture. Royster with Morris Architects and Michael Lane with MB Lane & Associates.

ICSC Las Vegas 2009 May 18 Stan Johnson Company at their ICSC booth

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Southeast Texas | Announcements & Deals Done For a full report of Texas Announcements & Deals Done, log on to www.REDNews.com | Send your Press Releases to Jonathan@REDNews.com

SOUTHEAST TEXAS

MARCUS & MILLICHAP PROMOTES JEFFREY FRIPT ANNOUNCEMENT: Houston - Marcus & Millichap Real Estate Investment Services has named Jeffrey Fript to senior associate status. Fript joined Marcus & Millichap in 2005 and specializes in multi-family properties. Press Release 4/8/09

Jeffrey Fript Senior Associate Marcus & Millichap

Michael Anderson Vice President of Leasing Colvill Office Properties

Leslie Brew

Sr. Vice President of Leasing CEC Brokerage

Dan Cooper

MICHAEL ANDERSON PROMOTED AT COLVILL ANNOUNCEMENT: Houston - Michael Anderson has been promoted to vice president of leasing with Colvill Office Properties. With eight years of experience in office leasing, Anderson was formerly leasing manager with Colvill. He has been responsible for leasing more than one million SF since joining Colvill in 2004. Press Release 4/24/09 CEC BROKERAGE HIRES LESLIE BREW ANNOUNCEMENT: Houston - Leslie Brew has signed on as Senior Vice President of Leasing at CEC Brokerage. Brew brings 27 years of real estate experience to the team. Prior to joining CEC Brokerage, he worked as a Senior Property Manager for Caldwell Companies. Press Release 5/6/09 COOPER COMMERCIAL INVESTMENT LAUNCHES ANNOUNCEMENT: Houston - Cooper Commercial Investment Group, launched by Dan Cooper in 2006 within the NAI Daus brokerage firm in Beachwood, is now operating as a stand-alone venture in Mayfield Heights, OH. Cooper Commercial Investment focuses on the sale of retail, office, medical office, flex and light industrial properties and currently has two office buildings in Houston for sale. Press Release 5/11/09 GRANELLO AWARDED CCIM DESIGNATION ANNOUNCEMENT: Houston - Andre R. Granello, CCIM, Co-Managing Principal, Gibson & Granello Realty Partners, LLC, Houston, was awarded the Certified Commercial Investment Member designation by the CCIM Institute. The designation was awarded during examinations held in Fort Worth. Press Release 4/23/09

METAL WORKS PROPERTIES BUY President 50,740 SF BUILDING Cooper Commercial COMMERCIAL: Houston - Metal Works Investment Gourp Properties, LP has purchased a newly constructed 50,740 SF building at 8550 Telephone Road in Houston. The seller, Cerda Corp, LLC, was represented by Stuart Rosen of Greater Houston Commercial Properties. Chris Caudill and Joel Michael of NAI Houston represented the purchaser in the transaction. Press Release 4/15/09 CSI COLLISION LEASES 100,196 SF COMMERCIAL: Houston - CSI Collision Specialist has leased a 100,196 SF automotive facility at 16623 Kuykendahl from Bejjani and Associates. The Vanguard Commercial Group represented CSI. Bejjani and Associates was self-represented. Press Release 5/1/09

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KINTETSU LEASES AT GREENS ROAD COMMERCIAL: Houston - Kintetsu World Express (U.S.A.), Inc. has leased a 6,500 SF facility at 3340-A Greens Road. The landlord, AMB, was represented by Chris Money of Stream Realty. Chris Kugle of NAI Houston represented the tenant in the transaction. Press Release 4/14/09 BRAND SERVICES LEASES 10,108 SF COMMERCIAL: Houston - Brand Services, LLC has leased 10,108 SF at 12650 North Featherwood, a project of Panattoni Development Company. The landlord, 12650 North Featherwood, Ltd., was represented by Jay Kyle and Marshall Clinkscales of Colliers International. The tenant was represented by John Littman of Cushman and Wakefield. Press Release 4/14/09 LIMIN PROPERTIES BUYS 20,700 SF BLDG COMMERCIAL: Houston - Limin Properties, Ltd. has purchased a newly constructed 20,700 square foot building at 7310 West Road. The seller, A.E.N. West Rail Center, L.P. was represented by Steve Adkisson of The National Realty Group. Chris Caudill and Jon Michael of NAI Houston represented the purchaser, Limin Properties, Ltd., in the transaction. Press Release 4/22/09 CCS ENERGY LEASES AT 363 NORTH BELT COMMERCIAL: Houston - CCS Energy Services signed a lease for 7,233 SF at 363 North Belt. The landlord, 363 North Belt, L.P. was represented by Terri Torregrossa and Griff Jaggard of Moody Rambin Interests. CCS Energy Services was represented by Griff Bandy and Jon Silberman of NAI Houston in the transaction. Press Release 4/28/09 BOHLER WELDING RENEWS LEASE IN STAFFORD INDUSTRIAL: Stafford - Bohler Welding Group USA, Inc. has renewed their lease for 33,776 SF of office warehouse space in the Greenbriar Business Park in Stafford. Larry Indermuehle, CCIM, and Lang Motes at Indermuehle & Co. represented the tenant. Tom Brummett at Brummett & Company handled lease negotiations for the landlord and manages the property. Press Release 4/15/09 BUCKEYE INT’L RENEWS 12,224 SF INDUSTRIAL: Houston - Buckeye International, Inc. has renewed their 12,224 SF industrial lease at 16420 West Hardy. The landlord, Houston Industrial Properties, LTD, was represented by Steve Carter of Granite Properties. Darren O’Conor of NAI Houston represented the lessee, Buckeye International, Inc., in the transaction. Press Release 4/22/09 SOURCE REFRIGERATION LEASES 10,500 SF INDUSTRIAL: Tomball - Source Refrigeration & HVAC leased 10,500 SF at 23235 Tomball Parkway. Joe MacDougall of MacDougall & Co. represented the landlord, 23235 Tomball Parkway Ltd. Jarrett Venghaus of Jones Lang La Salle represented the tenant. Chron.com 5/10/09 GUHN ROAD DISTRIBUTION COMPLETED INDUSTRIAL: Houston - McShane Development Co. and MetLife Real Estate Investments completed the 253,838 SF Guhn Road Distribution Center at Guhn and Northcourt Roads in northwest Houston. The facility can accommodate users from 40,000 to 253,838 SF. Kyle Valentine, Justin Robinson and Christopher Money of Stream Realty Partners are marketing the development. Chron.com 5/10/09 JOHN LAWRIE INC. ACQUIRES LAND FOR EXPANSION LAND: Harris County - John Lawrie Inc. purchased 17 acres on Miller Road #1 near U.S. 90 in eastern Harris County for expansion of the company’s existing oil field pipe operations in the area. The seller was Guadalupe Ramirez. Andrew Sowell and Mike Boyd of Boyd Commercial represented the buyer. Chron.com 5/10/09 CITY OF DEER PARK BUYS LAND LAND: Deer Park - The City of Deer Park purchased 8.7188 acres at 6406 Highway 225 for the expansion of the city fire department’s training facilities. The fire department’s current training site is located adjacent to the newly purchased property making it a prime location for their upcoming expansion. Representing the landlord, Monarca Corporation of Seabrook, was Doug Bates and Joel Hill of Henry S. Miller Brokerage, LLC. The buyer, City of Deer Park, was represented by Bobby Grisham of Grisham Associates. Press Release 5/5/09

TCHPA LEASEA AT WOODFOREST PLAZA MEDICAL: Spring - Texas Children’s Hospital Pediatric Associates has signed a ten year lease for 9,000 SF at Woodforest Plaza at 6334 FM 2920, Spring, TX. Jon Silberman and Griff Bandy of NAI Houston represented the tenant. Jeff Tinsley of The J. Beard Real Estate Company, LP in The Woodlands represented the owner in the transaction. Press Release 5/11/09 CLAY DEVELOPING DEERWOOD GLEN MIXED-USE: Deer Park - Clay Development & Construction, Inc. is building a business park in the Port of Houston market. The 150-acre Deerwood Glen mixed-use park will open with a two-story, 88,000 SF, Class A office building located at 4400 Highway 225 that is slated for delivery in August of 2009. John Pruitt, Jessica Ochoa, and John Simons of CB Richard Ellis will handle the leasing and marketing efforts on the four office buildings. Press Release 4/15/09 MOODY RAMBIN IS AGENT FOR 12700 NORTHBOROUGH OFFICE: Houston - Moody Rambin Interests has been retained by Phoenix-based Northborough Corporate LLP as the leasing agent for 12700 Northborough located in the Greenspoint submarket. The entire six story building is available and contains approximately 120,733 SF of office space. Terri Torregrossa and Mark Preston will handle leasing for the building. Press Release 5/1/09 ACOSTA SALES LEASES 27,480 SF OFFICE: Houston - Acosta Sales and Marketing Company has leased a 27,480 SF building at 5050 Westway, Building #5. The landlord, Panattoni Development, was represented by Justin Bennett of Panattoni Development and John Pruitt, Kristin Rabal, Jessica Ochoa of CB Richard Ellis. Acosta was represented by Griff Bandy and Dan F. Boyles, Jr. of NAI Houston and Bill Knight of GVA-Atlanta. Press Release 4/16/09 FROST NATIONAL BANK RENEWS LEASE OFFICE: Bellaire - Frost National Bank renewed its lease of 18,816 SF at 6750 West Loop South. Bill Boyer and Charles Gordon of CB Richard Ellis represented the tenant. Brian Strait of Navisys Group represented the landlord, McCord Development. Chron.com 5/10/09 SPIRE REALTY RETAINS MOODY RAMBIN OFFICE: Houston - Moody Rambin Interests has been retained by Dallas-based Spire Realty Group as the leasing agent for a four building portfolio located in the Central Business District, containing 215,000 SF of office space and 44,000 SF of retail / restaurant space. Kevin Nolan and Mark Preston will handle leasing for the portfolio. The buildings are located at 708 Main, 1000-1010 Prairie, 820 Fannin, and 915 Franklin. Press Release 4/15/09 METHODIST HOSPITAL LEASES IN BAYTOWN OFFICE: Baytown - The Methodist Hospital leased 8,645 SF in the Bank of America Building at 4000 Garth Road in Baytown. Wade Sinclair with Claire Sinclair Properties represented the landlord, ESV Properties. Press Release 4/17/09 FOUNTAIN PLAZA SOLD RETAIL: Beaumont - Marcus & Millichap Real Estate Investment Services announced the sale of Beaumont Fountain Plaza, a 23,524 SF strip shopping center located at 3050 Dowlen Road. Alvin Mansour and Philip Sambazis of Marcus & Millichap marketed the property on behalf of the seller, a LLC in Texas. The buyer, an out of state LLC, was represented by Al Silva and Jason Heard in Marcus & Millichap in the sale of a Fort Worth apartment property and utilized a 1031 exchange to purchase Beaumont Fountain Plaza. Press Release 4/28/09 AUTO PAK-USA BUYS LAND FOR CAR LOT RETAIL: Houston - Auto Pak-USA purchased a 39,204 SF property for a car lot at 4515 Highway 6 from Regions Bank. Randy Connell of Coldwell Banker Commercial United, Realtors represented both parties. Chron.com 5/10/09 MARIACHI’S LEASES 5,400 SF RETAIL: The Woodlands - Mariachi’s Mexican Bar & Grill signed a 5,400 SF lease at Indian Springs Shopping Center, located at 6777 Woodlands Parkway, The Woodlands. John Ernst of The J. Beard Real Estate Company, LP represented the tenant. Press Release 4/29/09


Find Your Inner Rock Star!

June 2, 2009

The Junior League 11:30 a.m. - 1:00 p.m. $35 Members/ $40 Nonmembers Add $10 after May 29

Featuring speaker: Dayna Steele,

ANNOUNCEMENTS

“First Lady of Houston Rock Radio” & Author of Rock To The

ACRP BREAKFAST SPEAKER “Association of Commercial Real Estate Professionals”

June Meeting

Top: What I Learned about Success from the World’s Greatest Rock Stars

HARRIS COUNTY - 2009

Go to www.iremhouston.org more info Thursday, June 18,for2009

Marketing 10:30 AM - 11:45 AM | Networking 11:45 AM - Noon Luncheon and Speakers Noon - 1:00 PM

THE HONORABLE JUDGE ED EMMETT Thursday, June 25, 2009

Speakers: Carol Bernard with 1st American Exchange & Jim Wilkie with Wells Fargo Bank Topics: Carol Bernard: 1031 Exchanges & Jim Wilkie: Commercial Property Finance

7:00 - 8:30 am Networking, Breakfast & Presentation

OF COM M ION E AT

A C R P F O UN D E

9 D1

Houston Country Club-One Potomac Dr.

81

ASS OC I

www.acrp.org

M EMBERS F REE/G UESTS $35.00 P LEASE RSVP

“REDNews works! We had a sublease space in Houston Center that we had for 6 months. It had fair activity and we had done all the traditional marketing on it; but, it hadn’t leased. Then the month we ran the REDNews ad, we got more inquiries than ever before and we leased it! REDNews reaches an audience that I may not touch in any other way.”

IREM June Luncheon Find Your Inner Rock Star!

June 2, 2009

The Junior League 11:30 a.m. - 1:00 p.m. $35 Members/ $40 Nonmembers Add $10 after May 29

Featuring Speaker: Dayna Steele,

“First Lady of Houston Rock Radio” & Author of Rock To The

Top: What I Learned about Success from the World’s Greatest Rock Stars

Go to www.iremhouston.org for more info

Negotiation Skills Presented by the SIOR Houston Gulf Coast Chapter

COURSE DESCRIPTION Taught by SIOR Instructor Bill Burgess, CCIM, SIOR, this course offers three phases of the negotiation process that can assist a broker with a commercial lease negotiation. Attend this seminar to refresh your knowledge of negotiation fundamentals and learn new tips and tricks to supplement your negotiation prowess. TOPICS COVERED INCLUDE: h Key Elements in the Negotiation Process h Win/Win h Setting the Stage h Closing Techniques An application has been submitted to TREC for 4.0 elective CE credits. Non-SIOR’s will receive credit for one elective course toward the SIOR designation.

TO MARTYMCADAMS @ AOL . COM

COURSE DETAILS WHERE: Four Oaks Place Conference Center, 1330 Post Oak Blvd., 1st Floor Houston, Texas WHEN: June 25, 2009 8:00 a.m. - 12:00 noon COST: $25 SIOR & Commgate Members $40 Non-members (Checks should be made payable to SIOR Houston.)

- Jason Whittington NAI/Houston

Works!”

SOUTHEAST TEXAS

Reservation Information: Jerry Wilkins 281-488-3383 e-mail: jerry@jerrywilkins.net | www.bacren.com

Lakewood Yacht Club 2425 NASA Parkway, Seabrook, Texas 77586

S OFES IONAL S• PR

BACREN Members: $18.50 online • Others: $25.00 online • $30.00 at the door

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REAL EST IAL AT RC

CANCELLATION POLICY Requests for refunds must be made in writing; no refunds will be made after 5:00 p.m. on Monday, June 22, 2009. To register please visit www.siorhouston.com. For questions, please contact Michelle Martin at (713) 830-2184 or michelle@houstonrealty.org.

SOCIETY OF INDUSTRIAL AND OFFICE REALTORS®

www.siorhouston.com

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Texas Good News Fed Sees Positive Signs in Manufacturing

Dallas Business Journal - The state’s manufacturing indexes for production, capacity, new orders and shipments are still negative, but showed signs of improvement for the second straight month, according to the Texas Manufacturing Outlook Survey released Monday by the Federal Reserve Bank of Dallas. The Fed Bank of Dallas pointed out Monday that despite remaining in the negative for the most part, any indication of less distress in the indexes is a welcoming sign to the industry.

SOUTHEAST TEXAS

Construction Spending Showing New Trends

New York (CNNMoney.com) - While private construction fell in March, public construction rose - mostly from government spending.

Naval Base to Become Research Center

Ingleside (San Antonio Business Journal) - The Port of Corpus Christi and the Texas A&M University System have partnered to redevelop Naval Station Ingleside into a major research and training center. The Port of Corpus Christi Authority will assume control over a 1,000-acre complex; 576 acres are on the base itself, while 433 acres are owned by the Port of Corpus Christi. The A&M System will manage the redevelopment of the site into a research and training center focusing particularly on renewable energy.

Public construction increased 1.3 percent in February and 1.1 percent in March. The uptick can be credited to state and local governments, which increased spending by 1.3 percent in March.

Following the recommendation of the Base Realignment and Closure Commission, the U.S. Navy base will close in September 2010 as part of a military transformation and cost-saving initiative.

Overall, the $309 billion rate of public construction spending was 2.6 percent higher than in March 2008.

CENTRAL / SOUTH TEXAS Medtronic Bringing 1,400 Jobs to San Antonio

San Antonio (San Antonio Express-News) - A company that specializes in diabetes equipment and education is branching out into San Antonio, bringing with it 1,400 jobs and $23 million in capital improvements to a new office building on the city’s northwest side. California-based Medtronic Diabetes, a unit of Medtronic Inc., will start hiring this summer and begin operations at the 150,000-sf Overlook at the Rim building near Loop 1604 and I-10. At the new Medtronic Diabetes Therapy Management and Education Center, employees will work with diabetes patients, their doctors and insurance companies as they receive treatment.

$13 Million Roadway Project Begins Soon

Mission (globest.com) - Hidalgo County has received $7.4 million through the American Recovery and Reinvestment Act of 2009 to complete the needed funding for its $13 million roadway improvement project. The infrastructure improvements will prevent bottlenecks from occurring throughout Mission when the Anzalduas International Bridge opens this fall. The project, dubbed Farm-to-Market 396 at U.S. Expressway 83 Overpass, will widen FM 396 (Bryan Rd.) from two to four lanes.

Partnership’s Desert Transformation

El Paso (elpasoinc.com) - EP Transmountain Joint Venture is looking to transform 1,000 acres of desert into residential and retail space over the next few years. Plans for the multimillion dollar project could mean thousands of new homes, two new schools, new parks, walking and biking trails, and a lifestyle center off Transmountain Rd. and I-10 on the city’s west side. Work on the first phase - 300 homes and townhouses on about 200 acres - will begin this fall. Ultimately, the development could include as many as 4,000 homes. Desert View Homes will complete the residential developments in phases over the course of a decade, according to Desert View President Randy O’Leary. A 115-acre parcel will be developed as a retail complex and lifestyle center by Transmountain Investors Limited. Construction could begin on one million sf of retail space in two years and be completed in three. The center will include four to five major retail anchors, restaurants and possibly a movie theater, according to W. James Metheny, associate broker for Phase One Commercial Real Estate Services.

NORTH TEXAS Cancer Center’s Capitalization Secured

Dallas (The Marino Organization) - International real estate advisor Savills has arranged a joint-venture capitalization for a new, 460,000-sf Baylor Cancer Center that will be developed by Duke Realty Corporation at the Baylor University Medical Center. Savills’s Healthcare Real Estate practice represented Duke in securing Northwestern Mutual as Duke’s partner in the 100 percent equity transaction, which is valued at $154 million.

The new infrastructure should also ease congestion caused by increased development in area industrial parks such as the 1,200acre Sharyland Business Park and 150-acre Expressway Business Park.

Northwestern will hold a majority interest in the joint venture. BremnerDuke, a wholly owned division of Duke, will serve as developer for the project.

Parkdale Perking Up

The center’s two primary tenants will be Baylor University Medical Center and US Oncology. The ten-story outpatient cancer facility and medical office building will be located at Hall and Worth Streets.

Corpus Christi (Corpus Christi Caller-Times) - The city council this week approved an incentive plan for the redevelopment of the 52year-old Parkdale Plaza shopping center.

San Antonio was selected after a year-long search during which the company considered 930 locations in all 50 states.

Quick & Company will receive up to $1.6 million in sales tax rebates to reimburse it for the cost of repairing the asbestos-ridden center at 4101 S. Staples St.

Increased Lending Hints at Credit Thaw

The Austin-based developer estimates it will spend $10 million on the new shopping center, $1.9 million of which is demolition costs.

June 2009

fast food restaurants. The site plan has been approved by the city’s development services department. The refurbished shopping center is set to open in April 2011.

Hidalgo County will begin the bid process in January 2010, with construction scheduled to start by March. Construction should be completed within 12 to 14 months.

Medtronic Diabetes will receive about $14 million in incentives from the state, city, county, CPS Energy and the developer of the building, Transwestern.

San Antonio (San Antonio Express-News) - In a sign that the credit crisis might be beginning to thaw in Texas, JPMorgan Chase reported Wednesday that it issued more than 300,000 new loans and lines of credit totaling $6.4 billion during the first three months of 2009.

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JPMorgan Chase also made $182 million worth of loans to 473 small businesses and $1.7 billion in new and renewed credit to midsized businesses, large companies and other agencies.

Private construction slipped 0.1 percent in March as a result of a 4.2 percent decrease in residential building, which makes up over a third of the category. The spending rate of $258 billion was the lowest in nearly 12 years.

The 1,400 professional-level jobs will be filled over a five-year period. At capacity, the company payroll will be more than $44 million a year. According to local economic development leaders, this will translate into an annual impact of $75 million.

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The bank awarded $2.4 billion for 12,826 home mortgages, up 24 percent from the previous quarter.

Plans include a 203,000-sf Walmart Supercenter and 44,000 sf of additional retail space for a bank, a sit-down restaurant and two

Baylor Cancer Center will be one of America’s largest outpatient cancer centers and will include cancer treatment services, oncology research labs, physician offices, conference facilities, underground parking for 250 cars and a 50-space surface parking lot. Construction is scheduled to begin during second quarter 2009. Anticipated for completion in 2011, the property will seek LEED Silver certification.

Twinroses Bloom

Irving (rebusinessonline.com) - Work has wrapped up on two


Texas Good News speculative warehouses at the International Commerce Park at DFW Airport, bringing 316,000 sf of distribution-warehouse space to the area. Twinrose Regent I is a 256,000-sf cross-docked warehouse at 2611 Regent Blvd. It features 30-foot clear ceiling heights, 56 dock doors, 267 car parking spaces and 27 trailer parking spaces. Twinrose Regent II is a 60,000-sf facility at 2555 Regent Blvd. The buildings were developed by Dallas-based Twinrose Development and built by Bob Moore Construction.

Dallas (Dallas Morning News) - The number of Dallas-area homes for sale has dropped, a good sign for the residential sector. In North Texas, about 39,000 preowned single-family homes were for sale through the Multiple Listing Service at the end of March. That’s a decline of 13 percent from a year earlier, according to the North Texas Real Estate Information Systems Inc. The average asking price for Dallas homes listed for sale rose 3.6 percent over the last three months, but is still over 5 percent below prices one year ago.

The good news in the Dallas-Fort Worth area, however, is that “tenants are stepping up to backfill the vacant space,” Young commented. He pointed out that Conn’s, for example, is seeing a lot of opportunity in the big boxes vacated by Circuit City and Linens ‘n Things. The problem is, the market can’t depend on the Conn’s of the world to come in and bail out the empty spaces. Young predicted that in 2009 through 2010, vacancy would continue to increase. Furthermore, “the more the category killers reduce, the Staples, the Max’s, the Depot’s, the fewer there will be to backfill,” Young said.

DFW ranks 10th in global competitiveness

Dallas (Dallas Business Journal - by Bill Hethcock Staff writer) Fueled by a strong business climate, the Dallas-Fort Worth area ranked 10th in global competitiveness among 21 international metropolitan regions, according to a report presented at a global summit.

Fort Worth (Dallas Morning News) - Line Diversified Development and Interra Development Group LLC are developing Champions Circle, a $300 million mixed-use development on 279 acres.

Dallas-Fort Worth’s low costs of doing business and low business taxes were the region’s strongest assets, whereas creating a more robust talent base is the region’s biggest challenge, according to the findings of “Global DFW,” a report presented at the CoreNet Global Summit being held at the Hilton Anatole in Dallas.

The project will be built at the corner of SH 114 and I-35W and include retail space, offices, entertainment and residential construction.

Dallas tied for 10th place with Houston, the only other Texas metro area on the list. Tokyo, New York, Paris, Toronto and London made up the top five.

Interra is developing the project’s first space, a two-story, 120,000sf office building.

SOUTHEAST TEXAS

Champions Developing

When completed, Champions Circle will contain over three million sf of space. Developers expect it to create around 7,000 jobs and generate approximately $15 million in annual tax revenue for Fort Worth.

Ports Receive Improvement Money

Young to Crowd: Be Glad You’re In Texas

The Port of Houston will direct the federal funding toward major maintenance, operations and environmental projects associated with the 53-mile-long channel. Funding will also go to provide additional construction and dredged material placement capacity to avoid the increased costs of transporting dredge material to distant sites.

Dallas (www.globest.com by Amy Wolff Sorter) - Population and job growth, combined with prevention of overbuilding on the retail end, mean Texas should weather the economy fairly well. Weitzman Group managing director Bob Young said that, thanks to the attitude that retail space should be demand-driven, Texas doesn’t find itself drowning in a lot of excess inventory. “We learned our lessons from the 1980s,” said Young to participants at Appraisal Institute North Texas Chapter’s North Texas Realty Symposium on May 12. “Construction was done right this time.”

Houston (Houston Business Journal) - The Port of Houston and Port of Galveston have received $98.3 million and $40 million, respectively, in stimulus money from the American Recovery and Reinvestment Act for improvements to their shipping channels.

The improvements will help strengthen the port’s stimulus to the economy by adding 1.5 million direct and indirect jobs and $285 billion of economic activity to the nation.

Even better news for the retail sector is that the grocery sector is in the best shape it’s ever been. “People have to eat,”Young remarked. “The dollars are going to grocers, rather than restaurants.” Kroger is taking advantage of the demand by expanding, as is Wal-Mart, he said. Furthermore, specialty grocers, such as Sprouts, “is taking a health-conscious society into retail,” Young remarked.

The Port of Galveston, through the Army Corps of Engineers, will use its $40 million to complete the Houston-Galveston Navigation Channels Project while improving the Galveston Channel to a depth of 45 ft.

Still, as anyone picking up a newspaper or watching television

Houston (Houston Chronicle) - Home sales in master-planned

Houston MPCs Dominate

communities (MPCs) across the country may be sliding, but evidently that news hasn’t reached Houston yet. The Bayou City dominated RCLCO’s list of the nation’s top-selling MPCs for 2008, with five local housing developments landing in the top ten. Cinco Ranch, Telfair and Eagle Springs - all Newland Communities developments - each sold more homes last year than in the previous year. The Woodlands and Sienna Plantation also made the list, although sales there were down. Ranking first was Mountain’s Edge in Las Vegas with 879 sales. RCLCO is a Maryland-based real estate advisory firm.

Texas’ Restaurant Industry Taking the Lead

Houston (Houston Business Journal) - With roughly $35 billion in sales expected this year, Texas restaurants could lead the industry in growth, according to the National Restaurant Association. That figure represents a 4 percent increase in sales year-over-year. That’s down from 5.6 percent sales growth in 2008 but almost double the 2.5 percent nationally expected increase. “Even in these tough economic times, it is clear that the Texas restaurant industry is the best place to do business in the nation,” said Richie Jackson, executive vice president and chief executive of the Texas Restaurant Association.

Land Purchased for Oil Field

Houston (Houston Chronicle) - John Lawrie Inc. has purchased 17 acres on Miller Road #1 near US 90 in eastern Harris County from Guadalupe Ramirez for expansion of the company’s existing oil field pipe operations in the area. Boyd Commercial represented the buyer.

Whistle Blows on Rail Project

Houston (Houston Business Journal) - The Metropolitan Transit Authority of Harris County has signed a deal with Parsons Transportion Group for the next phase of Houston’s light-rail system, approving a $1.5 billion construction contract.

SOUTHEAST TEXAS

Dallas Housing Inventory Down

knows, the retail sector isn’t firing 100% on all cylinders. The lifestyle concept is struggling, Young remarked, as are malls and high-end restaurants. Even power centers are being hit, especially as the larger anchors declare Chapter 7 and are forced to liquidate.

Metro will spend $632 million on the initial phase of the contract, which includes the building and completion of the East End Corridor. The project is expected to create 25,000 jobs. As the facility provider, Parsons will be responsible for designing, building, operating and maintaining the four lines: North Line, East End Line, Southeast Line and Uptown Line. Parsons will lead a joint venture team operating under the name of Houston Rapid Transit Joint Venture. It includes Watsonville, Calif.based Granite Construction Co., Fort Worth–based Kiewit Texas Construction LP and Alameda, Calif.-based Stacy and Witbeck Inc. The entire project is expected to generate 60,000 direct and indirect jobs before the lines are completed.

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BUZZ Commercial

Straight From the Experts: The latest BUZZ in Commercial Real Estate

Starve a Cold, Feed a Recession

SOUTHEAST TEXAS

New head of Colliers Houston unveils plans to reposition company amid downturn, by Teresa Talerico for REDNews The economic downturn? J. Patrick Duffy has been there, done that. President of Colliers International in Houston, Duffy brings invaluable experience to the firm, which he has overseen for five months: He spent 25 years at the Colliers office in Tampa Bay, Fla., serving as president since 1991. He also helped that office weather the national recession, which slammed places like Florida and California long before it hit Texas. “I arrived here in January, and … this firm had had one of the best Decembers it ever had,” Duffy says. “So they were all flying high, and all I kept hearing was, ‘Houston’s immune.’ And my response was, ‘The world has the flu, and Houston will catch a cold.’” Sure enough, Texas started sneezing. That month state Comptroller Susan Combs announced that the financial crisis had officially arrived, bringing with it an expected 111,000 projected job losses for the first three quarters of 2009 and a projected increase of only

1.8 percent in gross state product, compared with a 4.2 percent increase the previous fiscal year. In March, the Texas unemployment rate rose to 6.7 percent, climbing from the March 2008 rate of 4.6 percent.

In Houston, Duffy has implemented other changes, too: He hired a marketing director, who helped re-brand the office’s marketing materials. He also plans to hire three new veteran brokers, each of whom has at least 14 years in the business.

Lucky for Houston, Duffy packed his Florida-spawned recessionfighting strategies when he moved here, and he’s using them to reposition Colliers’ Houston office in the wake of the recession.

Expanding Colliers’ retail niche is important, Duffy says. The company is well known for its industrial success. Right now he estimates that the company’s Houston revenue relies mostly on industrial and office, at 40 and 25 percent, respectively. He wants to balance the ratio of the firm’s office, retail, industrial, land and investment revenue, so that each category generates about 20 percent.

Overall, Duffy says, brokers must become even more focused on serving as consultants to their clients, who are struggling to recover and downsize without sacrificing productivity. “If you look at the real estate more holistically, you do a better job for the client, the client’s more successful and everybody wins,” he says. “A great real estate broker . . . (becomes) a consultant - it is much more of a consultative approach, and it’s highly focused on what that company is trying to achieve.” For example, in Florida Duffy and his team adopted a “show and tell” approach by using the latest technology - digital maps and other graphic tools - to share helpful visual information with clients. He hopes to incorporate that here.

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June 2009

He recalls a Florida manufacturing firm that was relocating and asked Colliers’ Tampa Bay office to find “the cheapest real estate you can.” However, the most affordable properties were farther away and meant longer commutes for employees, who could end up driving an extra 30 minutes each way. Duffy’s team, which included three mapping and research experts with degrees in urban development and graduate certificates in GIS, created a map of the available properties, including their prices and the additional drive times for each. “We asked... ‘How many employees will you lose if you increase the commute by 20 to 30 minutes?’” Duffy says. “With just that map, they ended up moving 1½ miles from where they were. They actually chose the most expensive real estate option, but it was the least expensive from an operations perspective.”

Pat Duffy, President of Colliers International in Houston

He also plans to grow the office’s property management portfolio. Currently, it manages about 4.2 million square feet. Duffy hopes to bring that up to 10 million or 15 million by the end of 2011. “That’s going to be a major part of our growth,” he says. Duffy had to hit the ground running. Job losses in Houston totaled 6,300 in the year before February 2009; industrial and office markets experienced negative net absorption in the first quarter of this year; and the petroleum-dependent city saw the fall of oil prices from $150 to $50 per barrel. Businesses have downsized or shut down altogether - in their wake, vacancy rates are on the rise. “You can look at job growth and job shrinkage, and it has a direct impact on the need for commercial real estate,” Duffy says. Duffy says when he got here, he immediately recognized the symptoms that led to Florida’s downswing. One of them was an increase in subleases. “I said, ‘I’ve seen this play, and the flare just went off that this market has slammed on the brakes.’ Because that was the first thing we saw (in Florida), and we saw that in 2007,” he says. But Duffy refuses to make it a “doom and gloom” environment at the office. “When I got here, I was seeing things I had already seen, and I frankly kept my mouth shut,” he says of his arrival in Houston. “It would not have been very positive input for these guys. And as a practical matter - good market or bad market - your attitude can affect your behavior and vice-versa. The last thing I wanted to do was take the steam out of anybody’s engine.”


Straight From the Experts: The latest BUZZ in Commercial Real Estate

Residential Market Ups & Downs

According to Inselmann:

• Houston is about the best place in the country to be for the housing industry • There has been a 79% decline nationally in home starts from the peak • Houston homes have enjoyed a steady 3-5% appreciation 20002009, avoiding the wild cycling of values in other markets-this means a home worth $200K in 2000 is worth almost $300K now • Values in Texas residential real estate overall are only down about 1.5% • The swinging “appraisal pendulum” effect caused by home foreclosure on value dampens the housing market some

• Job growth drives housing and commercial growth follows • Nationwide the country has lost 4 million jobs, but jobs only down 1% in Texas • 12 months ending March ‘09 has seen loss of 14,400 jobs in Houston • Loss of homes has forced higher demand for rental homes and higher demand for multi-family • Houston is now in a ‘reasonable place’ with regard to inventory of new and used homes • Residential foreclosures are at a rate of 1,000 per month, far, far below that of the 1980s, and there is a strong demand for the foreclosed houses, thus minimizing lender losses and keeping comps steady, thereby protecting values of all other homes • Houston has fallen from having 16,000 new homes under construction to 6,000, but as long as the margins for homebuilders hold, once the residential industry and its supply chain adjust, 6,000 homes is still a volume at which the industry can be profitable • All Texas markets have a 4-6 months supply of homes in inventory, and this is in balance • Hopefully we have reached the turning point in Houston and will start to grow from here • Houston is getting great national press • Restrictive local government jurisdictions elsewhere slowed the

supply of new home construction, therefore creating high demand and ballooning prices, which now have come crashing down

Will Holder:

• There is pain throughout the residential construction supply system, as suppliers and subs who ramped up for higher volume are now having to shrink back to match current levels of demand • Everyone is working to get unsold inventory down, to “take the slack out of the rope” • There has been a slight uptick of late in builder margins • There have been more people shopping model homes in first quarter of 2009 than in first quarter of either 2007 or 2008... traffic is way up, but buyers are still cautious

Ted Nelson:

• The Houston market still has a very large supply of unsold residential lots • Our current residential market is in no way akin to the crash of the 1980s • Margins are beginning to firm up for most homebuilders • Remember that even if Houston is losing jobs it is still gaining population and that is good for the future of residential and commercial real estate

The Bivins Report It Was a Very Good Year

Houston’s office market hit some of its highest peaks ever last year. So even though things are softening a bit in 2009, the local office market is in fairly good condition. The overall weighted average rent for all Houston buildings was $22.20 per square foot at the end of 2008, up from $21.28 per square foot at the end of 2007, according to a report by Commercial Gateway. That’s a significant gain in rents when you are considering broad, market-wide statistics. Buildings in downtown Houston Class A properties showed huge rental increases last year. At the end of 2008, Class A space in the Central Business District went for $36.37 per square foot, up from $33.52 per square foot at the end of 2007, according to the Commercial Gateway report. Looking back at 2008, the downtown office market became very tight, especially for the Class A market. The vacancy rate for downtown’s Class A buildings dipped to 6 percent at the end of 2008, down from 7.8 percent vacancy a year earlier. Some have expressed concern about the new supply of space being built in downtown - with new towers under construction by Hines and Trammell Crow. But it will be almost two years before those buildings are completed and occupied, so there is no glut on the near-term horizon. Actually, 2008 was really strong overall. So the market can retreat from that pinnacle a bit, and still be in good shape.

Short-Term Leases Booming

In the Houston industrial market today, many tenants are asking for short-term deals. And landlords are giving them. Bill Rudolf, senior vice president of industrial services at CB Richard Ellis, said many leases are being done for three years or less, far less than the typical term for warehouse and industrial space. Lease renewals or extensions are being done for one year. Rudolf told the CBRE First Quarter Press Luncheon that uncertainty with the economy is leading to the shorter term leases. He said in the Houston area, leases of 30,000 square feet to 40,000 square feet seem to be the typical size – larger distribution deals are few. “Overall, it’s not as bad as you’d think,” Rudolf said. Houston’s industrial market has been one of the best in the nation in recent years as the energy business created demand for space and pushed the vacancy rate down to 7 percent. But domestic energy exploration is slowing and the oilfield service companies representing the heart of the Houston industrial market will not need to expand.

Dr. Barton Smith’s Report Card

Houston’s economy will have some B-pluses in 2009, along with its share of Cs and Ds. That’s the general tone of Dr. Barton Smith’s outlook for 2009. Smith, an economist at the University of Houston, has been picking winners and losers in the local economy for more than 20 years.

Houston’s multi-family housing market should be improving its ability to draw tenants, Smith said. With tighter mortgage underwriting for home buyers, more families are going to be heading for apartments, instead of buying homes. Vacancy in apartments will increase, but multi-family housing will be better able to compete against single-family. Home builders have cut back on production of new homes significantly. This is good for the housing market, keeping supply in better balance with demand, Smith said. On the down side of that picture, suburban land prices have declined sharply as the need for new housing communities has dwindled.

SOUTHEAST TEXAS

Mike Inselmann of MetroStudy spoke to the Urban Land Institute at its recent luncheon. Supporting comments were made by Ted Nelson, President of Newland Communities, and by Will Holder, President of Trendmaker Homes. Although the focus of the remarks was on the residential market, it is the return to health of residential real estate/homebuilding by Ray Hankamer which will eventually lead commercial real estate back to robust health, according to leading economists.

Smith, at his annual real estate symposium, said Houston’s economy will lose 61,000 jobs over the two-year period of 2009 and 2010. That’s not good, of course. But for a region with 2.5 million jobs, it is not a large amount. Smith said Houston’s retail real estate market appears to be overbuilt. The industrial market will decline somewhat as oil drilling contracts and office vacancies will be rising. Smith, who regularly draws 1,000 people to his symposiums, also surprised the audience by announcing he will retire a year from now. Ralph Bivins, editor of RealtyNewsReport. com, is the dean of Texas real estate news writers. He is former president of the National Association of Real Estate Editors.

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SOUTHEAST TEXAS

AUCTION

AUCTION Westchase Hilton, 9999 Westheimer, Houston, Texas 77042 Thursday, June 18, 2009 at 2:00 P.M.

PROPERTY # 1* 2 3 4 5 6 7 8 9 10 11 12* 13 14 15 16 17* 18

PROPERTY DESCRIPTION 26,822 SF/Commercial Land 5.35 Acres/Commercial Land 2.7 Acres / Commercial Land 10.6 Acres / Commercial Land 2.4507 Acres/Commercial Reserve 3.2075 Acres/Commercial Reserve 12 Acres/Waterfront Barge Terminal 20,250 SF Multi-Purpose Building 4.2 Acres / Commercial Land 7.42 Acres / Commercial Land 26,151 SF Retail Center ±2500 SF Office Building ±3,647 SF Office Building 4.2 Acres / Commercial Land ±108,509 SF Office Building SOLD! 8.1 Acres/Commercial Land 4.7 Acres /Multi-Use Land 30,504 SF Retail Center

PROPERTY ADDRESS North Eldridge at FM 1960, Houston, TX 77065 14606 FM 2100, Crosby, TX 77532 Ella Blvd at Richey Rd, Houston, TX 77090 Ella Blvd at Richey Rd, Houston, TX 77090 FM 521 at Southern Colony Ave, Fort Bend,TX 77583 FM 521 at Horse Chestnut Creek, Fort Bend,TX 77583 936 E. Floodgate, Freeport, TX 77541 101 Franklin, Houston, TX 77002 1302 Humble Westfield, Houston, TX 77073 West Little York, Houston, TX 77449 6215 Harrisburg Blvd, Houston, TX 77011 215-219 W Sealy, Alvin, TX 77511 211 W Sealy, Alvin, TX 77511 Bammel Rd, Houston, TX 77073 3400 Montrose, Houston, TX 77006 Westheimer Rd at Synott Rd, Houston, TX 77077 N. Eldridge Pkwy, Houston, TX 5010 Louetta Rd, Spring, TX 77679

Thursday, June 25, 2009 at 2:00P.M. ONSITE 19

±7,000 SF Former Bennigan’s Restaurant

6540 Camp Bowie Blvd, Fort Worth, TX 76116

* Absolute Sale

Call (713)722-1250 or visit www.clay-co.com for a complete property information package 36

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June 2009


AUCTIONS

RETAIL CENTERS

6215 Harrisburg Boulevard Houston, Harris County, TX 77011 Key Map 494U

5010 Louetta Road Spring, Harris County, TX 77379 Key Map 331E

Description: 24,783 SF newly designed retail center with 13 suites. Currently has 3 tenants and is an excellent opportunity for owner/user. Well-below replacement costs. Excellent upside potential for new owner. Located on the new METRO East Corridor light rail currently under construction and just east of the new Dynamo Stadium.

Description: 30,504 SF Retail Center at Louetta and Kuykendahl. Well-located in a high traffic area of Spring. Center is 56% occupied. Strong upside potential for new investors and discounted for immediate sale. Excellent opportunity for owner/user.

Reserve Price: $1,700,000.00 (Less than $70/SF)

Reserve Price: $1,800,000.00 ($60.00/SF)

SOUTHEAST TEXAS

AUCTION

Westchase Hilton, 9999 Westheimer, Houston, Texas 77042 Thursday, June 18, 2009 at 2:00 P.M.

Call (713)722-1250 or visit www.clay-co.com for a complete property information package I

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HOTEL

INDUSTRIAL LEASE

Industrial Lease

SOUTHEAST TEXAS

6827 Wynnwood, Houston, TX 77008

“The email blast REDNews sent out for my office investment property resulted in an immediate return. I received 30 phone calls the very next day." Tommy LeBlanc McDade Smith Gould Johnston Mason + Co.

Works!

• Approximately 21,000 SF Free Standing Building with approximately 2,500 SF of Office Space • Sprinklered • Just inside Loop 610 and 290 Glauser Properties, LLC Georgia Wren-McConn • 713.527.8600 gwren@glauserproperties.com

INDUSTRIAL LEASE

Mitchelldale Business Park One - Half Mile From Hwy 290 & Loop 610

Southwest - 15,200 sq. ft. Dock-High Space Available 13120 Mula Court, Stafford, TX 77477

Cash Rd

Building 2 Suite B-5 Gessn er

SM ain St.

Staff ord Rd

Murphy Rd

5,077 SF of dock-high space available immediately

• $ .39 PSF NNN • 15,200 SF Available • Tiltwall Construction • 10% Office • Front-Load Building 1 Ramp; 1 Dock Well; 2 Semi-Docks • Concrete Parking and Truck Court • 18’ Clear Height • Freeport Exemption May Apply

Janae Evans • Tel: (713) 621-3999 5100 Westheimer, Suite 155 • Houston, Texas 77056 Fax: (713) 621-7432 • janae@evtex.com

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June 2009

EVTEX PROPERTY ALLIANCE www.evtex.com

• On-site management and leasing • Tiltwall construction • 12 building complex • Dock high and grade level availabilities • All concrete paving • 100% office/ AC in some spaces • Ample parking • Exterior tenant signage • Immediate access to Hwy 290, Hempstead Hwy and Loop 610 • Park-like setting/ attractive landscaping • Responsive management/ ownership • FedEx/ UPS drops on-site • After-hours patrol Janae Evans or Robyn Berry janae@evtex.com • robyn@evtex.com 713.621.3999 • 713.957.8876


OFFICE LEASE

Office Space Available

Property Management, Leasing, Brokerage, & Development

2190 North Loop West

10700 Richmond

1

2190 N. Loop West

2

10700 Richmond

Robert L. Cullum 713.782.5800

550 Westcott

2180 North Loop West 3

2180 N. Loop West

Robert L. Cullum 713.782.5800

• 638 - 4,536 SF • $14.00 PSF / year • Covered parking, easy access to Downtown or the Galleria via Loop 610, entire common area renovations completed.

1220 Blalock • 1,236 SF, 2921 SF, 1,285 SF • $15 PSF (gross)

550 Westcott

4

• 627 - 3,216 SF • $18.00 PSF / year • Covered parking, located on Westcott between Memorial & I-10 with easy access to downtown & Galleria

Robert Cullum 713.782.5800

Blalock Professional Building 5

• 496 - 4,608 SF • $14.00 PSF / year • Complete building renovations underway with completion scheduled for the 2nd quarter of 2009.

Texas Eye Institute Building 6

7710 Beechnut • 1,688 - 7,405 SF • $19.50 PSF / year + NNN • Conveniently located one block off US 59 on Beechnut

Jon Stup / Mark Gregory 713.782.5800 • Excellent access to Southwest Fwy.

Doug Drew 713.782.5800

Sharpstown Office Building 7

7255 Clarewood Drive

SOUTHEAST TEXAS

Robert L. Cullum 713.782.5800

• 671 - 15,985 SF • $14.00 PSF / year • Covered parking, easy access to Downtown or the Galleria via Loop 610, entire common area renovations completed.

713.782.5800 5151 San Felipe, Suite 2050 Houston, Texas 77056

• 457 SF - 3,747 SF Available • $11.00 PSF / year

8

• Anchored by: Bally Total Fitness

Jon Stup 713.782.5800

• Located off of US 59 next to Sharpstown Mall

509 West Tidwell 8

509 West Tidwell • 1,500 - 7,000 SF

5 2 Westpark

6

7

1 3 4

HOUSTON

• $16.50 PSF / year

Jon Stup / Mark Gregory 713.782.5800

• Newer Medical Office Building with close proximity to NW Hospital, ample parking, close to I-45N and 610.

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OFFICE LEASE

WESTCHASE SQUARE 2825 Wilcrest @ Westheimer (behind Randall’s)

9800 Centre Pkwy Houston, TX 77036

For leasing information contact:

Sonya Romero • 713.782.2233 westplazamanagement@yahoo.com

Building Size: 217,381 SF Lease Term: 3 - 5 years

www.westchasesquare.com $15.00 - $19.00 PSF Annual Recent Renovations! Minutes from BW8, I-10, 59 and the Westpark Tollway Westheimer

On-site leasing, management and maintenance

2825 Wilcrest

Monitored 24 hour card-key access

US SAM HO TON

TOLLWAY

Mead

Door to door mail delivery

owglen

Richmond

Beltway 8

Wilcrest

Conference room available

Building Size: 172,563 SF Lease Term: 3 - 5 years Rental Rates: $16 - $18 PSF 24 hour access, 24 hour video surveillance, on-site maintenance team, on-site management & leasing, ample amount of parking, on-site bank & ATM, on-site deli, security patrol

Class A building, building identity with anchor tenant status, on-site management & leasing, on-site maintenance team, on-site deli, 24 hour video surveillance

pacificacompanies.com

Jared Bellenger

AUCTION Gillett PM

Floorplans and pictures available at www.gillettproperties.com Information Available on CoStar *Brokers Ask For Details

12651 Briar Forest PS FB on us

Westheimer Rd at Synott Rd Houston, Harris County, TX 77077 Key Map 488U • Signage Available • $2.00 Per NRSF BTSA* • $14.40 per NRSF

1

2

• 512 - 4,992 SF Available • Convenient SW Fwy Location • On-Site Management • Signage Available • Small Offices Available • $12.60 per NRSF

June 2009

Thursday, June 18, 2009 at 2:00 P.M.

COMMERCIAL LAND

1

2

Call: Boyd Alexander

AUCTION

Westchase Hilton, 9999 Westheimer, Houston, TX 77042

7011 Harwin Drive

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12941 N. Freeway, Houston, TX 77060

713.778.8043 jbellenger@pacificacompanies.com

Patrol Guard

• Dairy Ashford Location • 9,600 SF Max Contiguous - Private Floor • Covered Parking & New Elevators

40

Wells Fargo Building

High speed internet and fiber optics accessibility

$2 .0 0

SOUTHEAST TEXAS

Centre One Building

713-532-5353

Description: ±8.1 acres located along the north side of Westheimer (FM 1093) at the Synott Road intersection between Dairy Ashford and Eldridge Parkway. 2 Tracts: 7.1376 acres (310,913 SF) and 1.0430 acres (45,433 SF) with over 1000 feet of frontage on Westheimer. The Texas Department of Transportation will allow a curb cut along the 7 acre Westheimer frontage that aligns with Synott creating two corners at a lighted intersection. Well-suited for fast food restaurant, bank, car wash, and other commercial or retail operations. Seller Financing Available!

®

Reserve Price: $4,793,000 ($13.50/SF)

Call (713)722-1250 or visit www.clay-co.com for a complete property information package


OFFICE / MEDICAL LEASE

Locally based. Nationally read. Distributed to 50,000+ readers. Now also available at over 300 newsstands and retail locations!

SOUTHEAST TEXAS

There ARE Tenants & Buyers out there and you don’t want to miss them by waiting for prospects to find you.

July 2009 Special Focus: Industrial & Office Market Call NOW to reserve your space for the July 2009 Issue. Deadline is June 10th Austin: 512.535.4151 • San Antonio: 210.568.3650 • Dallas / Fort Worth: 214.281.8935 • Houston: 713.661.6300 I

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OFFICE / RETAIL LEASE Providing Real Estate Services throughout Texas for over 25 years Leasing. Management. Brokerage.

SOUTHEAST TEXAS

Peggy Rougeou prougeou@tarantino.com

260 North Sam Houston Pkwy.

3315 Burke • Pasadena, TX 77504

260 N. Sam Houston Pkwy • Houston, TX 77060

• First Floor Space Available with Lobby Exposure! • Moving Allowance, Pylon Signage Available • Attractive Tenant Improvement Packages

1811 Bering Drive • Houston, TX 77057

1502 Augusta • Houston, TX 77057

prougeou@tarantino.com

3040 FM 1960 Rd. W. • Houston, TX 77073

Yorktown Office Building

1776 Yorktown • Houston, TX 77063

• Free Covered Parking! Beautiful Lobby Interiors • Monitored After-Hours Card-Key Access System • Newly Remodeled in 2007, One Mile From Galleria

Cypress Landing Shopping Center

RETAIL

Crossroads Shopping Center

3103-3213 E. FM 1960 • Houston, TX 77068

Bingle Village Shopping Center

2305 - 2339 Bingle • Houston, TX 77080 • Conveniently Located between I-10 and 290! • All Air-Conditioned/Climate Controlled, Pylon Signage Available • Easy Access for Deliveries, Roll-Up Doors Available

June 2009

8080 E. FM 1960 • Humble, TX 77346 • Build to Suit in Rapidly Expanding Market! Ample Parking • Pylon Signage Available with FM 1960 Exposure • Consumers From Surrounding High-End Residential Area

Angelton Four Corners Shopping Center

9920 Hwy 90A • Sugar Land, TX 77478

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

edrymalla@tarantino.com

Atascocita Market Square

• 16,217 Contiguous Space Available! Ample Parking • High Visibility on the Corner of Aldine-Westfield and FM 1960 E • Traffic Count Exceeds 78,800 CPD, Pylon Signage Available

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

• Approximately 1 Mile West of Galleria! Building Identity • Recently Remodeled 2008, On-Site Management • After-Hours Card-Key Access, On-Site Guard Patrol

Eric Drymalla

• Retail Center with High Profile Architecture! • Located in Fort Bend County - Fastest Growing County in Texas! • Former 24 Hour Fitness Available! High Income Demographics

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

1505 Highway 6 South • Houston, TX 77077 • Beatiful Lobby Interiors! Competitive Rates & Terms • Monitored After-Hours Card-Key Access • Covered Two (2) Story Parking Garage, Parking Ratio 4/1,000

1502 Augusta

• Conveniently Located Between San Felipe & Westheimer! • On-Site Security with Monitored Card-Key Access • New HVAC and Lobby, Serviced by Two (2) Elevators Peggy Rougeou

1505 Highway 6

• Newly Remodeled! Competitive Rates & Terms • Monitored After-Hour Card-Key Access System • Easy Access to Beltway 8

1811 Bering Drive

Sugar Point Shopping Center

I

Liz Westcott-Brown liz@tarantino.com

Pasadena Diagnostic Clinic

• Great Location in a Rapidly Expanding Market! • Pylon Signage with Exposure on FM 1960 • Traffic Count Exceeds 72,020 CPD, Anchor & Inline Spaces Avail.

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OFFICE

1800-1834 N. Velasco • Angleton, TX 77515 • Anchored by Kroger Grocery Store! Great Location • Center Across street from Wal-Mart, Pylon Signage Available • Ample Parking, Traffic Count Exceeds 13,000 CPD

www.tarantino.com


OFFICE / RETAIL LEASE GRAND PARKWAY - WATERSIDE RETAIL CENTER SE Corner of Grand Pkwy & Mason Rd., Katy, TX

AC E AN HARD CH WA OR RE ED

• Others: Bank of America, Berri Blends, Vet, Shipley, Primrose, Snap Fitness. • Across from new Kroger. • Great Spacing between Cinco & Sugar Land. • 9,400 SF & 3 pads remaining.

KATY FREEWAY LAND

SE & SW Corners of I-10 and Greenhouse Rd., Houston, TX

I-10

• Two parcels: +/- 3 acres & +/- 13 acres. • Three Hard Corners. • Over 1,600’ of I-10 frontage and efficient depths. • Neighbors: Two New Hospitals, Energy Corridor & Second Baptist.

CLEAR LAKE (BAY OAKS) RETAIL CENTER

SE Corner of Hwy 3 & FM 2351(Clear Lake City Blvd.), Houston, TX

EN

DC AP !

• Starbucks-anchored. • 6,800 SF remaining, including end cap. • Front door to affluent Bay Oaks. • Neighbors: Texas Children’s, CVS, Banks, Sonic, Medical & Office.

OFFICE BUILDING - PASADENA Fairmont Parkway at Beltway 8, Pasadena, TX

3,5 00 LEF 5,000 T! SF

• “Boutique” 25,000 SF building. • Heart of new Pasadena - Fairmont Pkwy & Beltway 8. • High-end finishes & amenities. • State-of-the-art HVAC & access controls. • 3,500 SF ready for immediate move in on 1st floor. • Wells Fargo anchored.

VICTORIA RETAIL CENTER

NW Corner of Navarro St & LaSalle, Victoria, TX

DO LOC MINA ATI NT ON !

• Traffic Light Intersection. • Between 675,000 SF Mall & Target, Kohls, Office Depot, Bed Bath, etc. • Buffalo Wild Wings-anchored, 6,000 SF in-line remaining. • Also: Hard Corner Pad & Hotel Site.

BELLAIRE / MEYERLAND RETAIL CENTER NW Corner of Braeswood & Chimney Rock, Houston, TX

SOUTHEAST TEXAS

Second Baptist

NO D REQETEN UIR TION ED

AG G PR RESS ICI IVE NG !

• Heart of Meyerland location. • Adjacent to dominant grocer. • 2,800 SF available, Cotenants: Fioza, UPS, Snap Fitness, Toys. • Over 500,000 pop. in 5-mile radius.

WILE INTERESTS

www.WileInterests.com T: 713.337.3350 | F: 713.337.3352 1811 Bering Dr. | Suite 140 | Houston, TX 77057

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43


OFFICE / RETAIL LEASE

Woodlands Park Shopping Center HAYES

WESTHEIMER

WILCREST

KIRKWOOD

WOODLAND PARK

11372-11470 Westheimer Excellent for Retail Shop or Professional Office Use • Shopping Center Size: 75,620 square feet • Traffic Counts: 82,880 vehicles per day (Westheimer) • First Floor Retail: 1,600 - 4,600 SF • Second Floor Office: 13,000 SF

GESSNER

I-10

8989 Westheimer

WESTHEIMER

. WY FR SW

Competitive Lease Rates on Custom Finish Suites

610 WEST

WESTCHASE

FONDREN

SAM HOUSTON PKWY

GALLERIA

WILCREST

SOUTHEAST TEXAS

FOR LEASE

OFFICE / RETAIL SPACE

Special Features: • Conveniently located midway between the 610 Loop and the Sam Houston Parkway, & the I-10 and the Southwest Freeway • On-site mailing and overnight service facilities • High visibility signage opportunities • Ideally sized suites for new and expanding businesses • Close to restaurants, banking and other businesses support services and preferred residential areas • Numerous property enhancement projects underway

8 WESTHEIMER

Kaleidoscope

10612-10692 Westheimer In the heart of Westchase District

For more information

Kenneth K.Y. Leung 281-467-3535 713-988-0888, ext. 108

44

I

June 2009

• 2 Blocks west of Beltway 8 • 800 SF - 1st floor; 2,952 SF - 2nd Floor • Excellent for retail, office or professional use

• 7,000 SF former Mexican Restaurant Pad Site also for lease


RETAIL LEASE

• • • • • •

Available 1,240 to 6,100 SF High visibility, great demographics and heavy Hwy 6 traffic thru Sugar Land, TX Intersection of Hwy 6 and W Airport Surrounded by apartments, homes, businesses, pharmacy & medical clinics Tenants: Shipley Donuts, Asian Grocery, Beauty Salon, Nail Salon and Chinese Restaurant Profitable location. Ideal for Restaurant, Deli, Pizza, Insurance, Tax, Pediatrics, Physical Therapy and any retail business.

Retail For Lease

Contact: 281-265-8749 • 832-250-8840 • woodbridgeplaza@aol.com

Northland Shopping Center 1401 - 1491 Spring Cypress Road, Spring, TX

Retail Pad Site Available Williams Trace Shopping Center - Sugar Land, Tx

SOUTHEAST TEXAS

Royale Woodbridge Plaza, 11315 Hwy 6 South, Sugar Land, TX

Available Space • 50,000 SF Build To Suit

• Kroger anchored

• 6,318 SF In Line Space

• Freeway frontage

• 6,400 SF In Line Space

• Great visibility

• 3,150 SF Doctors Office • 2,876 SF In Line Space I-45

Andrew Clark 713.468.5005 a1clark@swbell.net www.DZMI.net

Beltway 8

• +/- 3,000 SF Pad Site Available • 5,000 - 10,000 SF Sublease Space Available • Top 10 Fastest Growing Cities in America (170% Growth Since 1990) • Avg HH Income $107,517 • 146,899 Population • Median Age - 34 Years Old • 2 Miles From Hwy 59

59

Hw y6

3404 - 3430 Hwy 6 South

Kenneth Leung • 281-467-3535 • 713-988-0888 ext. 108

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45


RETAIL LEASE

SOUTHEAST TEXAS

PRIME RETAIL FOR LEASE Coles Crossing

Midtown Shoppes

24140 - 24150 Hwy 290 @ Barker Cypress

3030 Travis www.midtownshoppes.com

• 1,400 SF Available - 2nd Generation Space/Shell

• 3,300 SF - End Cap Available

• 1,738 SF Available - 1st Generation Space

• Near Post Oak Grill and Yoga One Studios

• Neighboring Randall’s Grocery & La Fitness

• +/- 5,200 SF Club / Restaurant Space Available

The Shops at Rocky Creek Crossing

7260 Highway 6 • Heavy Hwy 6 Traffic • Between Sienna Plantation & Lake Olympia • 1,216 AF Available • Great for Salon, Cellular, Insurance, Optical, Tutoring

Are you looking for a Commercial Real Estate Company to manage your investment properties? We provide property management solutions to owners with retail, office/professional/medical and office/ warehouse properties in the Houston area. Our Commercial Management services include: • • • • • •

Detailed Monthly / Quarterly Financial Reports Advertising, Leasing and Marketing of Vacant Spaces Property Security & Valet Parking Budget Projections and Planning Assessment of Billing and Collections Automatic / Remote Access Payment of Operating Expense & Debt Service • Build Out and Renovation Management • Lease Negotiations and Renewals

• • • •

Tenant Mix Consultation and Leasing Vendor Contract Oversight and Management Provide Regular On-Site Property Inspection Reports Areas of management: Pearland, Woodlands, Katy, Cypress, and Harris County • Tax Evaluation and Protest of Annual Ad Valorem Taxes with Tax Consultants • CAM reconciliation and annual expense reviews. • 7 Days a Week/ 24-Hour Emergency Response

Contact Pamela Tranpark

office 713.334.0700 direct 281-935-9800 pamngo@yahoo.com 46

I

June 2009


RETAIL LEASE

RETAIL SALE Available for Sale

www.georgecushing.com

OWNER OCCUPIED OPPORTUNITY EXCEPTIONAL MIDTOWN HOUSTON LOCATION SMITH AT GRAY

l

$3,950,000; 7.5% Cap Rate Attractive assumable financing: $2,442,800 loan at 6.10% interest rate through April 2017

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100% occupied with Starbucks, Quiznos and T-Mobile on first floor

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Up to 7,300 SF second floor office space available year-end

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Median home value of over $230,000 in the one-mile radius George Cushing Grubb & Ellis Company 713.599.5165 | george.cushing@grubb-ellis.com

RETAIL LEASE/SALE

SOUTHEAST TEXAS

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COMMERCIAL PROPERTIES

LAND / CHURCHES FOR SALE Daycare & Church Building - Northwest Houston - 18,000 SF............................................$1,485,000 Church/Daycare in Humble - 419 Granberry - 4,500 SF ....................................................... $325,000 First Baptist Church Spring Branch - 1610 Campbell Rd. - 6 acres land... SALE PENDING ...$3,800,000 Sweet Home Baptist Church - 205 Fidelity Rd - 4,950 SF.......................... SALE PENDING ..... $275,000

SOUTHEAST TEXAS

Church/Radio Station - 8560 Howard Dr - 10,000 SF ............................... SALE PENDING ..... $725,000

48

I

Tabernaculo De Vida - 9329 Ponderosa - 5,350 SF............................................................... $585,000 Houston Victory Ministries - 3218 Robertson - 4,600 SF .......................... SALE PENDING ..... $298,000 San Jacinto Christian Academy - 301 Ilfrey, Baytown - 57,000 SF .....................................$2,900,000 Church of Christ - 701 N. Pruett St., Baytown - 12,600 SF .................................................... $575,000 Templo El Buen Samaritano - 1845 Silber - 1.6 Acres ........................................................$2,200,000 Church in East Houston - 5208 Noble - 7,200 SF................................................................... $250,000 Inwood Forest Country Club - 7603 Antoine - 36,000 SF....................................................$4,500,000

International Church Realty (713) 541-4005

June 2009


Mexico

Locally based Internationally read

Hawaii Canada

Australia Ireland Malaysia Switzerland

Apr 09 May 09 Texas Brokers 7,298 7,313 Texas Leasing/Tenant Rep 5,896 5,907 Texas Investors 4,647 4,659 Texas Developers 4,388 4,402 Outside Texas Investors, Brokers, Developers, etc. 25,280 25,295 Readers Nationwide

47,509 47,576

And located at 300+ newsstands throughout Texas

Print & Digital

Magazine Readership 50000 45000 40000 35000 30000 25000 20000 15000 10000 5000

2007

2008

2009

Print

Digital Magazine Readership 50000 45000 40000 35000 30000 25000 20000 15000 10000 5000

Mar 09

Apr 09

May 09

Services Print Marketing Premium Placement (Front Cover, Inside Cover, pages 3-7, Back Cover) ....................................... Starting at $2,100 - $4875 Sponsorship Banner Ad (Networking Page, Calendar Page) ...............................................................................Starting at $700 Display Advertisement (Classified, 1/8, ¼, ½, Full Page) .......................................................................Starting at $195 - $1875 Custom Flyers, Post Cards.................................................................................................................................................................... Call for Pricing Mailing Services, Using REDNews Database or Yours

Online Marketing Property Flyer Email Blast (Print Ad/jpg/pdf) ............................................................................................................Starting at $75 Digital REDNews Magazine (Full Page in Online Magazine/ Direct Link From Your Ad to your website) .......................................................................Starting at $480 Digital Sponsorship (Logo Next to Front Cover in Digital REDNews + Direct Link Newsletter sponsorship) ......................................Starting at $300 Website Tile Ad (Logo or property ad on REDNews website) ................................................................................ Starting at $250 Promotional Video Production (2 minute documentary style video).............................................................. Starting at $400

Website Development

Property Websites ............................................................................................................................................................. Starting at $600 Company Website ......................................................................................................................................................... Starting at $2950

Austin: 512.535.4151 • San Antonio: 210.568.3650 • Dallas / Fort Worth: 214.281.8935 • Houston: 713.661.6300

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49


LAND FOR SALE

Commercial Building & Land For Sale 13623 Stafford Rd., Stafford TX 77477

53 +/- Acres - E. Lake Houston, over 2,000’ waterfront, excellent for boating and fishing with future development potential. Price: $1,010,000 43 +/- Acres - Grant Road frontage, west of Jones Road. Tract has existing water features for detention. Price: $1,650,000 81 +/- Acres - FM 1488 and Bowler Rd. Price: $22,000/acre

Matt Dietz - Realty Executives direct 281.491.3484 • cell 281.635.6081 matt7@flash.net • www.mattdietz.com

Broker - Realty Investors - 713.907.7632

Eminent Domain

2.7 Acres For Sale N

295’

Walters

384’

S. Brentchase Cr.

Road

FM 1960

KeyMap 371C

• SW Corner Walters Rd. and S. Brentchase Cr. • $4.00 PSF • Will Divide • Utilities Available • Adjacent 2.7 acres also for sale

Location

• Just behind Galleria • Easy access to 610 & 59 • Newly renovated • Professional building • Covered parking • Key code entry • Private & quiet • Satellite/cable available • Attractive lobby • Wall coverings • Fully carpeted • Will remodel to suit tenant

Lawrence Wilkerson 713.622.3068

OppOrtunity OppOrtunity knOcks knOcks Short-term commercial realmortgages estate loans Short term commercial Short term commercial mortgages All All property even raw land! propertytypes types ––even raw land! Close oneweek week Closein in one

TAO Interests, Inc. - Broker www.taointerests.com (713) 621-9841 email: tim@taointerests.com

Commercial Land For Sale

Unique Small Office & Suites For Lease 3303 South Rice at Richmond Ave.

Equity Secured Capital

Equity Secured Capital

Representing owners of residential, commercial and unimproved properties involved in condemnation due to road, rail, pipeline and drainage projects.

www.ShowalterLaw.com

www.equitysecured.com

www.equitysecured.com ContACt: Lisa Kelly Kelly | |512-589-5388 CONTACT: Vince DiMare |512-589-5388 512-732-8338 ContACt: Lisa

Texas Private Mortgage Lender Since 1990 texas Mortgage Lender Since 1990 texas Mortgage Lender Since 1990

281.341.5577

CENTRAL / SOUTH TEXAS

• 3 Buildings on 4.123 Acres (179,524 SF) • 2 Buildings 6,000 SF, built in 2002, 20’ Ceilings • Price: $2,750,000 • Owner Financing with 20% down

Leasing Specials

TEXAS CLASSIFIEDS

“ESE has advertised with numerous well-known publications,

Size

Price / SF

FM 1960 East of Lake Houston

+/- 24 Acres

$0.50

but none have brought the kind of exposure and return on

5730 Bintliff Dr. @ Harwin Dr.

+/- 300.80 SF

$9.00

investment like REDNews."

+/- 2.35 Acres

$1.05

+/- 64,000 SF

$12.00

FM 1960 Hardy (Southeast Corner) Also full frontage on Bammel and Hardy Rd.

Antoine @ W. Tidwell Adjacent to Kroger Center

Works!

Contact Lila Co. @ (713) 741-9900

ADVERTISERS | Index A. A. Realty Company ......................................................................44, 45 ACRP.......................................................................................................31 American Realty Group..........................................................................47 Ardent Commercial Realty Group ...........................................................5 Asset Plus Corp.......................................................................................39 BACREN ..................................................................................................31 Bofysil Real Estate....................................................................................9 Capital Resources Insurance Agency, Inc. .............................................50 CCIM Central Texas ................................................................................19 CCIM Dallas ............................................................................................25 Center Resources Inc..............................................................................34 Clay & Company ..................................................................25, 36, 37, 40 CREW Dallas ...........................................................................................25 CREW San Antonio.................................................................................19 CTCAR .....................................................................................................19 David Z. Mafrige Interests......................................................................45 DN Commercial ........................................................................................2 Equity Secured Capital, LP .....................................................................50 ESE Partners LLC...............................................................................22, 28 Evtex Property Alliance..........................................................................38 Freeway Properties..................................................................................7

50

I

June 2009

Garan Commercial Properties Inc..........................................................48 General Property & Services ....................................................................9 Gillett Properties ..............................................................................13, 40 Glauser Properties, Inc. ..........................................................................38 GreatLand Investment...........................................................................45 Greenberg & Co........................................................................................9 Grubb & Ellis.......................................................................................9, 47 International Church Realty ..................................................................48 Investment Realty Advisors...................................................................50 IREM Austin............................................................................................19 IREM Dallas ............................................................................................25 IREM Houston ........................................................................................31 IREM San Antonio ..................................................................................19 Jacobs Properties ...................................................................................11 Johnson Development Corporation ............................................1, 26, 27 Kenneth R. Lilley Comm. Real Estate ....................................................45 Lila Construction ....................................................................................50 Lincoln Harris CSG ..................................................................................41 National Signs, Inc. ................................................................................52 Pacifica Companies, LLC ........................................................................40 Phase Engineering, Inc. .........................................................................16

Bryan Gay President ESE Partners, LLC

Pipeline Realty Company ................................................................41, 47 Randall Morris & Associates ..................................................................19 RCA / SABOR...........................................................................................19 Realty Executives - Sugar Land .............................................................50 Realty Services Group ............................................................................48 REMAX Cinco Ranch...............................................................................13 Royale Emerald States Ltd.....................................................................45 Sheldon Good & Company ....................................................................37 Showalter Law Firm ..............................................................................50 SIOR Houston .........................................................................................31 Southwest Hotel Management.............................................................38 Stanton-Pinckard Realty .......................................................................10 TAO Interests, Inc. ..................................................................................50 Tarantino Properties, Inc. ................................................................21, 42 The Real Estate Company ......................................................................13 U. S. Property Management..............................................................3, 51 Victory Realty Solutions.........................................................................46 West Plaza Management, Inc. ..............................................................40 Wile Interests, Inc. .................................................................................32


HOUSTON MEDICAL CENTER PLAZA 1,000 - 12,000 Sq. Ft. suites available in the Heart of the Medical Center

3,804 SF NRA

Suite 200

10,631 SF NRA

SOUTHEAST TEXAS

Suite 720

440 Louisiana, Suite 300 • Houston, Texas 77002 Cece Garrett • 713.425.5225 • c.garrett@uspm.us

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Your Commercial Real Estate Marketing Source

POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL

5909 West Loop South, Ste. 135 Bellaire, Texas 77401• Fax: 713.610.9015 Austin . . . . . . . . . Dallas/Fort Worth Houston . . . . . . . San Antonio . . . . Outside Texas . . .

. . . . .

512.535.4151 214.281.8935 713.661.6300 210.568.3650 800.836.2191

Address Service Requested NEW LOCATIONS: REDNewsaustin.com REDNewsdfw.com 15588r1_Auto_RED_po_NS.pdf 5/11/09 REDNewshouston.com REDNewssanantonio.com

5:24:48 PM

Signs move you. Auto businesses on the move look to state of the art LED message center technology as a cost effective way to promote their business and attract new customers. From large dealerships to neighborhood repair shops, National Signs has the right marketing solution. Call us today and let us drive more business to you.

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713.863.0600

nationalsigns.com | 2611 El Camino St., Houston TX 77054 | 800.659.6285

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REDNews June 2009 Issue  

Vacant Land Focus

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