REDNews September 2014

September 2014

In this issue: Legal Update: Non-Disturbance Agreements

Bridging the Gap in the I-35 Corridor

Social Media – Are You Doing It Wrong?

Office Space – What the Tenant Reps have to Say

New Construction Reports

FOR 100,000+ CRE BROKERS, INVESTORS & DEVELOPERS

A NEW FORT WORTH LANDMARK Lone Star Business Park

September 2014







THE EPICENTER OF W EST HOUSTONT o w n C e n t r e O n eLEASING

INFORMATION

T O P P E D O U T

September 2014







THE EPICENTER OF W EST HOUSTONT o w n C e n t r e O n eLEASING

INFORMATION

T O P P E D O U T

September 2014







September 2014







SAFETY | AMENITIES | VALUE | VISION | BEAUTIFICATION

Big-business amenities for small-business budgets

Learn more: WestchaseDistrict.com or 713-780-9434 WESTCHASE. WHERE BUSINESS IS MOVING.

There are many big new office buildings in Westchase District perfect for large, international companies. But what if you’re not a giant company? Don’t worry; you can still enjoy all the benefits of the District in a smaller, more affordable multi-tenant building. Many are newly updated. Some offer whole-floor opportunities. And they all offer access to everything you’d expect from the District: great mobility, beautiful surroundings, desirable amenities, close proximity to many of the city’s leading companies, and easy access to our new trail system. So learn more today.

14127 WD Small Office REDnews_1.indd 1 8/19/14 3:00 PM

OWN CENTRE ONET700 Town & Country Blvd.,

Houston, TX 77024

TOWNCENTREONE.COMConvenient access to the offices in the Energy Corridor, Westchase District and The Galleria. BUILDING FEATURES:• 10 Floors/254,452 SF• 26,713 SF floor plates• Town Centre One is part of a 2.2 million square foot

shopping, mixed-use destination• Dedicated attached parking garage 3.9/1,000• Architectural masonry/glass curtain wall• Two-level stone & wood lobby• Class AAA lobby finishes• Gold Leed certified• Dual-pane low-E glass• Four high-speed geared elevators • Dedicated freight elevator•

Climate-controlled walkway from garage

•

24/7 Security

FOR LEASING INFORMATION:Kevin Nolan

[email protected](713) 773-5572

Bob [email protected]

(713) 773-5531

Dan Moody [email protected]

(713) 773-5540

Topped Out Delivers 1Q2015

SAFETY | AMENITIES | VALUE | VISION | BEAUTIFICATION

Big-business amenities for small-business budgets

Learn more: WestchaseDistrict.com or 713-780-9434 WESTCHASE. WHERE BUSINESS IS MOVING.

There are many big new office buildings in Westchase District perfect for large, international companies. But what if you’re not a giant company? Don’t worry; you can still enjoy all the benefits of the District in a smaller, more affordable multi-tenant building. Many are newly updated. Some offer whole-floor opportunities. And they all offer access to everything you’d expect from the District: great mobility, beautiful surroundings, desirable amenities, close proximity to many of the city’s leading companies, and easy access to our new trail system. So learn more today.

14127 WD Small Office REDnews_1.indd 1 8/19/14 3:00 PM

OWN CENTRE ONET700 Town & Country Blvd.,

Houston, TX 77024

TOWNCENTREONE.COMConvenient access to the offices in the Energy Corridor, Westchase District and The Galleria. BUILDING FEATURES:• 10 Floors/254,452 SF• 26,713 SF floor plates• Town Centre One is part of a 2.2 million square foot

shopping, mixed-use destination• Dedicated attached parking garage 3.9/1,000• Architectural masonry/glass curtain wall• Two-level stone & wood lobby• Class AAA lobby finishes• Gold Leed certified• Dual-pane low-E glass• Four high-speed geared elevators • Dedicated freight elevator•

Climate-controlled walkway from garage

•

24/7 Security

FOR LEASING INFORMATION:Kevin Nolan

[email protected](713) 773-5572


(713) 773-5531

Dan Moody [email protected]

(713) 773-5540

Topped Out Delivers 1Q2015

Properties For Sale/Lease 1-3, 5, 7-9, 11, 13, 15, 17, 21, 23, 25, 27, 28, 29, 41, 43

Commercial Services

Construction 19

Environmental 30

Lending 19

Legal Services 41

Moving & Relocation 41

What’s Happening in Texas CRE

Calendar of Events 32, 34, 36

Networking Photos 33, 35, 37

Deals & Announcements 38 - 40, 44

Legal Update: Non-Disturbance Agreements 10More Office Space Needed In Austin 12New Construction Reports 14, 18, 22The Dallas Office Market: A Tale of Two Cities 16Office Expansion Continues in the Houston 20Bridging the Gap in the I-35 Corridor 24, 26Social Media – Are You Doing It Wrong? 42

Tab

le o

f Con

ten

ts

Properties For Sale/Lease 1-3, 5, 7-9, 11, 13, 15, 17, 21, 23, 25, 27, 28, 29, 41, 43

Commercial Services

Construction 19

Environmental 30

Lending 19

Legal Services 41

Moving & Relocation 41

What’s Happening in Texas CRE

Calendar of Events 32, 34, 36

Networking Photos 33, 35, 37

Deals & Announcements 38 - 40, 44

Sarah LanCarte817.259.3512

[email protected]

Lone Star Business ParkLone Star Business Park is a 101 acre, planned business park developed for industrial, flex, office and medical office space. Located at the Northwest corner of Loop 820 and Quebec in Northwest Fort Worth, the business park has 155,000 square feet of Class A industrial space under construction set to be available the first quarter of 2015. The location has great highway frontage on Loop 820 and is in close proximity to I35 W, downtown Fort Worth and is 35 minutes from DFW airport. The business park includes build-to-suit opportunities, lot sales available from 1 to 50 acres and industrial space for lease.

Jeff Givens817.259.3536

[email protected]

LEASING INFORMATION

A New Fort Worth LANDMARK...

1 0 R E D N e w s . c o m

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PUBLISHER

Ginger Wheless [email protected]

EDITOR Marjorie Gohmert [email protected]

ASSISTANT EDITOR Carol Swiantek

STAFF WRITER Janis Arnold

CONTRIBUTING WRITERS Ray Hankamer [email protected] Brad Porter [email protected]

Jim Wilkie [email protected] San Antonio - Kim Gatley

MANAGING DIRECTOR Chris King [email protected]

ART DIRECTOR Connie Marmolejo - [email protected]

Mya Dale - [email protected]

MARKETING MANAGER Amanda Simonian [email protected]

ACCOUNTING Benton Mahaffey [email protected]

SALES Chris King [email protected]

Amanda Simonian [email protected] Ginger Wheless [email protected]

Print & Digital DistributionREDNews is directly mailed each month to commercial real estate

brokers, investors & developers in the following cities /areas as well as 200+ locations throughout Texas:

Texas Brokers 7,650Texas Leasing / Tenant Rep 6,232

Texas Investors 4,979Texas Developers 4,710

Outside Texas Investors, Brokers, Developers, etc 81,577Total REDNews Distribution 105,148

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5959 West Loop South, Suite 135Bellaire, Texas 77401

F O R 1 0 0 , 0 0 0 + C R E B R O K E R S , I N V E S T O R S & D E V E L O P E R S

Dear Readers,

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

The Avison Young tenant reps from Austin, Dallas and Houston we spoke with were unified in their observations that there isn’t enough office space to fill the needs of companies wanting to relocate or expand. As we learned in Real Estate 101, location is a critical factor and it seems many of the companies don’t question rental rates at all, at least in their first choice location. Attracting a talented work force is of utmost concern. It was interesting to learn that some Austin software developers will take a 25% reduction in salary to live in the Austin CBD.

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

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

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

Have a happy Labor Day!

Best Regards,

Ginger Wheless

CYPRESSPRESERVE PARKMaster Planned Business Park

For SaleDevelopment Tracts

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

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

TODD N. EDMONDS, CCIM, [email protected]

MICHELLE [email protected]

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

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

SOLD

Phase II

Phase I

Personalized Service. Proven Results.

www.tarantino.com

Nanes Professional Pasadena Professional

17030 Nanes Dr, Houston, TX 77090• Two Story Medical/Professional Office Building

• Up to 6,571 NRA Available

• Located 2 miles from the Houston NW Medical Center

• 15 Minutes from IAH & The Woodlands

3315 Burke Rd, Pasadena, TX 77504• Three Story Office Building

• First Floor Space Available -- Lobby Exposure

• Conveniently Located Across from Bayshore Medical Center

• Generous TI Packages

908 E. Southmore

908 E Southmore Blvd, Pasadena, TX 77502• 46.462 SF, Three Story Medical Office Building

• 80 Free Surface Parking Spaces

• Recently Renovated Lobby

• Generous TI Allowance

Ashford Professional

909 Dairy Ashford Rd, Houston, TX 77079• Two Story Medical Office Building

• Renovated in 2008

• 30,999 Rentable Square Feet

• Services the Memorial & Surrounding Neighborhoods

Eric Ohlson | [email protected] Peggy Rougeou | [email protected]

Eric Ohlson | [email protected] Peggy Rougeou | [email protected]

Kris Lilly | [email protected] Peggy Rougeou | [email protected]

De Zavala

12770 Cimarron PathSan Antonio, TX 78249• 3,000 – 10,000 SF, Flex Office & Biomedical Space Available

• Climate Controlled Warehouse

• Generous Tenant Finish-Out Allowance

• Northwest Location with Easy Access to I-10 & 1604

Edgebrook Shopping Center

10500 Gulf Freeway Houston, TX 77034• Big Box- 24,343 SF Now Available• Located on Hard Corner of Gulf Freeway & Edgebrook• Pylon Signage Available• Traffic Count Exceeds 222,000 Cars Per Day

Eric Drymalla | [email protected] Peggy Rougeou | [email protected] Jenkins| [email protected]

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

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

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

Personalized Service. Proven Results.

www.tarantino.com

2305-2339 Bingle Road Houston, TX 77055• 3,263 – 8,976 SF Retail Space Available

• Pylon Signage Available

• Extensive Parking

• Landlord will Build to Suit for Credit Tenant

Angleton Four Corners Shopping Center

1804 N Velasco StreetAngleton, TX 77515• Up to 5,444 SF Retail Space Available• Center is Located Across the Street From Wal-Mart• Pylon Signage Available• Traffic Count Exceeds 13,000 Cars Per Day• Retail Center Remodeled in 2014

Eric Drymalla | [email protected] Peggy Rougeou | [email protected]

Bingle Village Shopping Center

1 4 R E D N e w s . c o mwww.PorterPowers.com

A subordination, non-disturbance, and attornment agreement (SNDA) is actually three agreements in one and relates to the respective rights of a tenant, landlord, and the landlord’s lender in a leasing relationship. As discussed below, I think a SNDA is an agreement that every commercial tenant should request when enter-ing into a new lease with a landlord, but a tenant’s inability to obtain a SNDA does not necessarily spell trouble. The subordination portion of the SNDA assures the landlord’s lender that its lien (established upon making a loan to the landlord) is superior to the tenant’s interest in the property. Even if the tenant entered into the lease prior to the loan between the landlord and the landlord’s lender, the SNDA will usually function to subordinate the tenant’s interest in the property to the lender’s interest. The non-disturbance portion of the SNDA assures tenants that their rights to their lease premises established by their lease will be pre-served (not disturbed), even if the landlord defaults on its loan with its lender and that lender then forecloses on the property. The attornment portion of the SNDA provides that the tenant will continue their obligations under the lease in the event that landlord’s lender or another new owner takes over the lease. It assures a lender, generally, that the tenant will attorn to agree to be a tenant to the lender or another purchaser following a foreclosure sale.

I signed a lease with the landlord. I’m protected, right?Your lease is an agreement with a landlord that allows you to use and occupy space based upon certain conditions for a specified period of time. If your landlord sells the building, your lease will still be in full force and effect with the new owner of the building. But, if the build-ing owner defaults and a lender takes over the building, without a SNDA, you have no privity with lender (meaning, the tenant never entered into any agreement with the lender directly). In other words, a landlord’s default under its loan with its lender can eradicate your rights to use and enjoy space in the building. Your lease may be deemed null and void should it be in the best interest of the lender. Technically, without a SNDA, the tenant is screwed; but technically speaking and practically speaking are two very different things.Let’s consider a typical office or retail building. There may be dozens of tenants in the property. These tenants will have signed leases at various times – as such, some are at or above market, and some are below market. If the owner of the building defaults on its loan and a lender takes over, it would be a monumental task for the lender to empty the building of current tenants or even under-market tenants. There would be devastating delays, legal costs, brokerage fees, and construction fees, just to name a few, that would make it very unap-pealing for most lenders to be willing to terminate leases and stop existing cash flow. In other words, the chances of actually getting

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

So, do I need a SNDA or not? Although it is not a bad idea for every tenant to seek a SNDA, prac-tically speaking, it is not imperative for every tenant. The reality is, moreover, that a landlord is much more likely to work with a ten-ant on getting a SNDA when the tenant has leverage – the tenant is renting a large portion of the building, the tenant is a desirable use for the building, the tenant is taking the last unoccupied space, etc. In my experience, the practical reality is that tenants are only kicked out of a building post-foreclosure when the new owner of the building can make more money by having the tenants out of the building than by having them in the building. With that backdrop, if I am repre-senting a tenant, the following are some of the circumstances under which I vigorously seek a SNDA: (1) My client is entering into a long-term lease; and/or(2) My client is wholly assuming or “fronting” (with the landlord to

repay after the tenant is fully permitted and open for business) substantial costs associated with improving the premises to make it ready for the tenant’s use; and/or

(3) My client is renting a large portion of a building; and/or(4) My client is renting a property that “feels” like its highest and

best use is not the current use – such as when a property might be repositioned as another use or razed so that a developer can go vertical; and/or

(5) The landlord purchased the property at the height of the mar-ket, and the market has taken a material turn for the worse, or the property is substantially vacant and likely not-performing.

What should be in a SNDA?At a minimum, the tenant should ensure that landlord’s lender agrees to assume all of the obligations of the landlord. A strong tenant should be more specific, especially if signing a lease for a space that is under construction or requires substantial repairs or renova-tion. In that case, the SNDA should include a provision requiring the lender to complete any unfinished construction begun by the landlord as a pre-condition to collecting rent. This provision might also include a similar covenant for casualty and condemnation repairs. Finally, al-though the SNDA can be referenced in the lease, it should be a stand-alone document that is in recordable form. Upon execution by the ten-ant, the landlord, and the lender, the document can then be recorded in the real property records to put all parties on notice of the SNDA.

What is a SNDA? BRAD PORTERPartnerPor te r & Powers , PLLC

As always, there is plenty more to discuss but not enough space. Feel free to email me at [email protected] or call me at (713) 533-1499 if you would like to discuss.

CRELEGAL UPDATE

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

For all your commercial real estate needs, we’re here to point you in the right direction.LANDLORD & TENANT REPRESENTATION • SITE ACQUISITION • SALES & LEASING • REAL ESTATE CONSULTING • PROPERTY MANAGEMENT

• Multiple suites sizes available• Situated in high growth area of The

Woodlands residential & commercial corridor

• Located 6 miles west of I-45, 1 block from Research Forest Drive.

• Easy access to FM 1488 and FM 2978

Magnolia CrossingFor Lease

33300 Egypt Lane, Magnolia

• Three-story building• 5.0 - acre site• Typical floor plate: 25,000 rentable square

feet• Estimated completion Spring 2014

Vision Park Office BuildingFor Lease

128 Vision Park, Shenandoah

• Space available: Suite 300 – 17,815 RSF & Suite 600 – 17,815 RSF with upgraded finishes

• Town Center Location and walking Distance to Woodlands Waterway, Market Street and adjacent to The Cynthia Woods Mitchell Pavilion

• Excellent Access – under ½ mile to I-45

Timberloch PlaceFor Lease

2002 Timberloch, The Woodlands

• New construction ready for build-out• Direct access to I-45 & the Hardy Toll Road• Great location in The Woodlands Submarket

with excellent freeway visibility • Three-story office building with

approximately 23,000 RSF

The Woodlands GatewayFor Lease

26865 I-45, The Woodlands

• Located at the corner of Kuykendahl Road and Preserve Way, near Creekside Village

• 1,250 SF – 12,500 SF Contiguous Available

• Six buildings, one story total 45,000 SF

The Preserve Office ParkFor Sale or Lease

25420 Kuykendahl Rd., The Woodlands

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

281.367.2220 jbeardcompany.com

• Located in the heart of Town Center, this Class A office building is minutes from Hughes Landing, Market Street and the Waterway

• Surface & garage parking available, granite finishes and double glazed ‘E’ glass, back-up generator, energy management system and onsite storage area

• Two-story, 23,432 SF building, situated on 1.55 acres

• 1,872 SF available -- full service• Located within the heart of the Woodlands

Town Center, close to Market Street & The Cynthia Woods Mitchell Pavillion

• Minutes from I-45 and the Hardy Toll Road, right off Woodlands Parkway

Town Center PlazaFor Lease

Spurwood BuildingFor Lease

9400 Grogan’s Mill, The Woodlands10655 Six Pines Dr.

• Brand new 30,000 SF medical office building

• 4,489 SF available – divisible to 2,000 SF• Generous tenant improvement allowance• Located less than 1 mile from I-45, Memorial

Hermann, St. Luke’s and MD Anderson Hospitals.

• Conveniently located on I-45 in Conroe access road

• 10,000 SF of shell space• 2,500 SF for lease• Built in 2012, on 1.704 acres

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

Office/Office MedicalFor Lease

Emergency Care FacilityFor Sale or Lease

32100 Dobbin HufsmithFor Sale or Lease

3117 College Park Medical, The Woodlands 4019 I-45, Conroe 32100 Dobbin Hufsmith, Magnolia

• Two, 3-story Class B office buildings• 800 SF, approximately 6,000 SF contiguous

available• Convenient location at HWY 249 (Tomball

PKWY), FM 1960, and Beltway 8• Located on the periphery of Willowbrook

Mall

Willowbrook Place I & IIFor Lease

• Building: 8,080 SF, with 2,020 SF - 4,040 SF available for Phase II

• Exceptional visibility and accessibility from Rayford Rd.

• Available office suites will have dedicated front & back door, with 60’ bay depth

• Explosive new commercial & residential growth corridor

Rayford Medical For Lease

1100 Rayford Rd, Spring 17314 & 17350 HWY 249, Houston


What challenges are you facing in Austin’s of-fice market?The challenge is finding space for tenants. The three major markets are downtown, northwest and the southwest and they cater to three differ-ent client types. Downtown is the location for young companies that are fast growing, like tech companies. Their decision to be downtown is based on having an environment with an urban feel that includes housing, food and the bar scene. Those companies are all about creating an en-vironment and a culture that attracts and keeps their talent happy. My son, Burke, was speaking with the CEO of a tech company who said that he could hire a software engineer to his location downtown for about $100,000 a year, whereas he would have to pay $130,000 to that same engineer if he were located in the suburbs. This is the oppo-site of how it was twenty-five years ago, when be-cause of the commute, the higher cost of parking and the way people had to dress, it cost more to employ someone downtown than it did to employ them in the suburbs. Austin has delivered twelve to fourteen resi-dential towers downtown since 2008 and more are on the way. With the residential component, the amount of retail has grown from 500,000 to 600,000 sf to 1,800,000 sf. The city has mandated that retail be a part of the ground floor of any de-velopment downtown, which enlivens the street scene. What is changing, and changing rapidly, is the in-creased demand for office space by technology companies. In the Internet days of the late 1990s, we saw demand from tech companies; however, they were looking for more warehouse and cool space which Austin did not have a lot of. Now, they are looking at traditional office buildings to repurpose into a tech design look, taking out the ceilings, creating open floor plans, sealing con-crete floors and bringing in a lot of natural light.

How much office space is under construction? In downtown there is about 900,000 SF under con-struction or renovation. How much has been pre-leased? Of that space, I would estimate about 60+%. Once the Cousins building opens in December or Janu-ary, that percentage quite likely may be as high as 80-90%. When we broke ground on the Cousins building in June of 2013 there was only one crane on the skyline; now there are probably ten.Is there still a draw for the law firms?The upper bank of the new Colorado Tower is in-teresting. It is primarily law firms, but a Midland oil and gas company, Parsley Energy, came in and took three floors. We have never seen that kind of demand out of oil and gas in Austin.However, I happened to be playing golf with a guy who was in the energy business. He knew the company. I asked him why an oil and gas company would come to Austin, as it is not a normal occur-rence. He said, “First of all there is not any office space in Midland. Secondly, we can do our business any-where these days because of technology.” He said, “I imagine they were sitting around saying we can’t get any space here, so why don’t we go to Austin? “ They took three of the top floors, +/-72,000 square feet, which is 20% of the building. It is just unbe-lievable. There are two technology companies on the lower bank that could take up to four floors. It is going to be a mix of traditional and tech ten-ants, probably most indicative of what Austin’s CBD market is becoming. Law, energy and tech is the demand? Yes, with the demand being, first, technology, sec-ond, law and third, oil and gas. There is only so much space. Where will the nat-ural evolution of space be from that downtown area? They want Downtown first, Northwest or Southwest would be their second choices? Or is it a different group of employers?Certainly there is crossover; however, Northwest is employing a different type of individual. That demographic is comprised of individuals in their late twenties to fifty and likely married with chil-dren. They are interested in being in a good school district, which Round Rock and Leander would qualify for. Their commute will be to The Domain, which will be a second downtown, or the Arbore-tum area and out along 183 and in different spots along 620. Those areas are seeing companies like Apple Service Center, Oracle, eBay, PayPal and HIB Global.What about the appeal for southwest? More headquarters. Southwest is the Eanes In-dependent School District and Lake Travis School District, which is supplanting Eanes as the premier school district in the southwest. Southwest is ex-periencing extensive growth centered around the Hill Country Galleria which entails a lot of execu-tive housing.

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

Are the rates there substantially lower?

Southwest has limited supply and limited avail-ability to deliver new supply because of the SOS ordinance, which limits impervious cover to 15%. There is a scarcity of sites to deliver office hence driving rates.

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

What do you see happening in the next five years?

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

So the issue is whether there will be overbuild-ing?

It will become overbuilt. That is what always hap-pens and it will not be any different this time. It is just a question of when. If investors have a 10-year horizon and the capacity to weather a storm, then they will be fine. Austin is a great place to invest. If an investor has a 3-5 year horizon, then he may not have the best time to exit. An investor with an 18-24 month horizon would probably fare just fine that way too.

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

“The upper bank of the new Colorado Tower is interesting. It is

primarily law firms, but a Midland oil and gas company,

Parsley Energy, came in and took three floors. We have never seen that kind of demand out of oil

and gas in Austin.”

HOUSTON

YTD Absorption | Absorption = 6,189,584 sf 2Q14

600,000+

200,000 - 600,000

60,000 - 200,000

30,000 - 60,000

10,000-30,000

0-10,000

(1) - (15,000)

(15,000)-(100,000)

(100,000)+

Key

Woodlands 3,851,799

Katy Freeway West 751,810

Westchase 349,117

East Fort Bend/Sugar Land 255,053

CBD 238,588

Greenspoint 197,280

Northwest 191,571

West Loop 152,864

Greenway Plaza 107,804

NASA/Clear Lake 102,963

FM 1960 76,452

South Main/Medical Center 59,588

San Felipe/Voss 29,808

Bellaire 23,997

Katy Freeway East 6,729

Northeast Near 6,460

Richmond/Fountainview 4,585

Gulf Freeway/Pasadena 2,355

Kingwood/Humble -3,646

South -4,907

Midtown -45,931

I-10 East -49,033

Southwest -148,961 (100,000)+6,189,584

(1)-‐(15,000)

(15,000)-‐(100,000)

10,000-‐30,000

200,000-‐600,000

600,000+

0-‐10,000

80,000-‐200,000

30,000-‐80,000

YTD Absorption

Gulf Freeway/Pasadena

Nasa/Clear Lake

East Fort Bend/ Sugar Land

Southwest

Midtown

Katy

Freeway

East

Woodlands

FM 1960

Kingwood/Humble

Katy Freeway West

Greenspoint

Northeast Near

BellaireRichmond/Fountainview

GreenwayPlaza

WestLoop

Northwest

South Main/Medical Center

South

Westchase

San Felipe/Voss I-10 East

CBD

Mike Kennedy, Managing DirectorAvison Young - Austin

100 Highland Park Vil lage, Suite 200 Dallas Texas 75205 | Phone 214-751-6160 www.mockingbirdmanagement.com | Alison Hunsicker | [email protected]

Let us help you reach your goals!

Professional Residential Property Management

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

Mockingbird Management, LLC is a regis tered HUB and has exper ience in managing Convent ional and Af fordable Housing including: HUD, Sect ion 42 Tax Credi ts and USDA 515 proper t ies.

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SUBMARKET BUILDING ADDRESS RBA%

LEASED DEVELOPER ETACBD 303 Colorado Street 371,348 49.4% Cousins Sep-14

Southwest 3700 N Capital of Texas Highway 249,870 38.1% HPI Real Estate Services & Investments May-15

North 11501 Alterra Parkway 221,973 0.0% Endeavor Real Estate Group Sep-14

Southwest 320 Capital of Texas Highway 217,490 0.0% Riverside Resources Apr-15

CBD 500 W. 5th Street 195,378 50.3% Endeavor Real Estate Group Sep-14

Southwest 5707 Southwest Parkway 160,935 75.2% Brandywine Realty Trust Jun-15

Southwest 5707 Southwest Parkway 160,935 62.7% Brandywine Realty Trust Jun-15

Southwest 2500 Bee Caves Road 145,437 0.0% Endeavor Real Estate Group May-15

North 11800 Domain Blvd 143,331 80.0% Endeavor Real Estate Group Sep-14

Northwest 6500 N Capital of Texas Highway 115,000 0.0% Endeavor Real Estate Group Oct-14

Northwest 6500 N Capital of Texas Highway 115,000 0.0% Endeavor Real Estate Group Oct-14

Southwest 2500 Bee Caves Road 69,150 20.5% Endeavor Real Estate Group May-15

CBD 311 Bowie Street 40,985 100.0% Endeavor Real Estate Group Sep-14

Southwest 6838 Bee Caves Road 40,000 100.0% Equitable Commercial Realty Sep-14

Southwest 7710 Rialto Blvd 35,000 77.1% Barton Commercial Sep-14

Southwest 7710 Rialto Blvd 27,637 0.0% Barton Commercial Sep-14

Round Rock 411 W Main Street 26,563 0.0% Unknown May-15

CBD 500 W Cesar Chavez Street 24,000 0.0% Trammel Crow/The Hanover Company/Pacific Life Insurance Company

Oct-15

Cedar Park 1785 Whitestone Blvd 16,000 0.0% Unknown Aug-14

Northwest 10815 Ranch Road 2222 15,340 0.0% Equitable Commercial Realty Jul-14

Southwest 5920 William Cannon Drive 14,868 0.0% Equitable Commercial Realty Jul-14

Round Rock 7201 Wyoming Springs Drive 12,000 33.3% Healthcare Real Estate Services Jul-14

Cedar Park El Salido Pky & FM 620 10,500 79.1% Antenora Architects LLP Sep-14

Austin New Construction 2Q Lisa Bridges, Director of Market Research-HoustonBrittany Ofield, Research & Marketing Coordinator

SUBMARKET BUILDING ADDRESS RBA % LEASED OWNER ETAFar West 9500 Westover Hills Blvd 180,000 100.0% CyrusOne, LLC Sep-14

Far West 8100 Potranco Rd 160,000 100.0% Corporate Office Properties Trust Aug-14

Far Northwest 15827 La Cantera Pky 129,015 100.0% Patrinely Group LLC Nov-14

Northwest 4630 N Loop 1604 W 126,626 11.1% Stream Realty Partners, Central Texas L.P. May-15

Northwest 12459 Network 80,569 49.1% Windbreak 4 LLC May-15

North Central 250 W Nottingham Pl 68,000 100.0% Milam Real Estate Investors Sep-14

Northwest 2000 NW Loop 410 Fwy 50,000 100.0% Pape-Daqwson Engineers Aug-14

Far West 10010 Rogers Run 45,000 54.4% Westover Commercial Group Ltd Aug-14

Comal County 601 Creekside Way 42,000 0.0% Transwestern Sep-14

San Antonio New Construction 2Q Lisa Bridges, Director of Market Research-HoustonBrittany Ofield, Research & Marketing Coordinator

713.690.0000CaldwellCos.com

FEATURES •

access

• On-site deli, bank, pharmacy & medical lab

• Recent exterior and interior

• Valet & reserved garage parking

• On-site property management

Call For Pricing

Greenpark One

FEATURES • Adjacent to Cornerstone Hospital

of Bellaire• Centrally located between

Memorial Hermann Southwest and The Medical Center

• Ample parking

Call For Pricing

For Lease - 5420 Dashwood, Houston, TX 77081Bellaire Medical Plaza

Blake R. Virgilio, CCIM

Email: [email protected]

• Monument signage available• Amenities include LabCorp, Medex Plus Pharmacy and a vending area• Within walking distance of several restaurants• 1 block from a METRO route


Art Green is a Principal with Avison Young in Dallas who specializes in office leasing and tenant repre-sentation. Art has over 25 years of experience with clients such as, 21st Century Insurance, Gruma Corporation, Pegasus Solutions, Gehan Homes and Palm Beach Tan .What are the challenges in the Dallas office market today? There are a number of experienced and talented tenant reps providing competition in the mar-ketplace. I think the most interesting thing is the number of relocations that are coming into the area and the dynamic market that we are experi-encing. Are you prospecting differently for clients to-day than you did five years ago? Not really. It’s about working harder than the competition. It’s about diligent research. And at the end of the day, it boils down to relationships. Our job is to be knowledgeable and demonstrate to the clients our commitment to understanding their business objectives---ultimately, delivering best in class service and solutions. What are the most sought after areas in your region? It is a tale of two cities. You have the Central Busi-ness District/Uptown area. Then you have the Pla-

no Legacy area. For example, in the CBD we have two large tenants, Omnitracs and Active Network relocating from California. They received fourteen million dollars in incentives from the city and the state. They’re going to take 300,000 feet down-town which will bring 1,400 jobs to the city. Uptown is exploding and particularly attractive to the young professionals. Numerous apartments are being built and it’s a cool, hip area. The restau-rants, bars and multi-family housing are the main draw, plus Klyde Warren Park, a new urban park, which has been built to bridge the CBD with Up-town. Is the location so important to tenants that they aren’t questioning rental rates? Sometimes. I’ll give you an example. A major law firm moved out of the Central Business District into the Uptown market only ten blocks away, from a space of 175,000 feet to a brand new space that’s about 110,000 feet. It’s a “right-sizing” move. They don’t have law libraries any-more. Everything’s accessible on a desktop. You don’t have these massive stairwells and grandiose lobbies anymore. Within the legal industry, recruit-ing and retaining top talent has become a priority. Part of that begins with the image the firm por-trays with its office space.Have floor plate sizes increased in the DFW area? Areas differ. If you look at the suburban markets, like Plano Legacy, there is more of a horizontal col-laborative campus environment as opposed to a vertical environment. They’re not going up thirty floors. Where else are you experiencing growth out-side of Plano and the CBD?Out to the west, closer to the DFW Airport, Avi-son Young represented Nationstar Mortgage for a 170,000 square foot headquarters build-to-suit. This particular assignment was a consolidation of several locations. In addition, 7 Eleven is relocat-ing their headquarters to approximately 300,000 feet in that same development. The Nationstar re-quirement was a consolidation, but the 7 Eleven relocation out of the CBD is for a more centralized location. In addition, State Farm is doing a massive develop-

ment of nearly two million square feet over in the Richardson corridor, approximately ten miles east of Plano Legacy. Are your B and C buildings being brought up to class A standards?I’m not really seeing a lot of that. I think that it’s tough for them to compete. People like new. It’s more efficient. You can put together amenities. You can put in a nice elevator, renovate lobbies and restrooms and all that sort of thing, but you can’t renovate a floor plate.

How long do you think this up market is going to last? With twenty seven years in the busi-ness, you’ve been through some cycles. Dallas is an interesting market, because there are no physical boundaries. We’re not constricted by water or mountains. It’s a wide-open market so these cycles have not lasted very long. Historically they’ve lasted twenty-four months on the short side, and maybe 30 to 36 months on the long side. Let’s face it; the success that Houston has enjoyed has been driven primarily by the oil and gas busi-ness. Does it not influence all of Texas?Yes, it does. However, Dallas is more of a service and technology driven market as opposed to an energy driven market. Texas has been extremely aggressive in going af-ter companies to relocate here. We have a lot of things to offer. We are a right-to-work state. We have no state income tax. We are pro-business. These are benefits that companies from California and the rest of the United States are looking at when they say to themselves, “Wow, Texas is where we want to be!

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

“People like new. It’s more efficient. You can put in a nice elevator,

renovate lobbies and restrooms and all that sort of thing, but you can’t

renovate a floor plate.”

Art Green, PrincipalAvison Young - Dallas

HOUSTON

YTD Absorption | Absorption = 6,189,584 sf 2Q14

600,000+

200,000 - 600,000

60,000 - 200,000

30,000 - 60,000

10,000-30,000

0-10,000

(1) - (15,000)

(15,000)-(100,000)

(100,000)+

Key

Woodlands 3,851,799

Katy Freeway West 751,810

Westchase 349,117

East Fort Bend/Sugar Land 255,053

CBD 238,588

Greenspoint 197,280

Northwest 191,571

West Loop 152,864

Greenway Plaza 107,804

NASA/Clear Lake 102,963

FM 1960 76,452

South Main/Medical Center 59,588

San Felipe/Voss 29,808

Bellaire 23,997

Katy Freeway East 6,729

Northeast Near 6,460

Richmond/Fountainview 4,585

Gulf Freeway/Pasadena 2,355

Kingwood/Humble -3,646

South -4,907

Midtown -45,931

I-10 East -49,033

Southwest -148,961 (100,000)+6,189,584

(1)-‐(15,000)

(15,000)-‐(100,000)

10,000-‐30,000

200,000-‐600,000

600,000+

0-‐10,000

80,000-‐200,000

30,000-‐80,000

YTD Absorption

Gulf Freeway/Pasadena

Nasa/Clear Lake

East Fort Bend/ Sugar Land

Southwest

Midtown

Katy

Freeway

East

Woodlands

FM 1960

Kingwood/Humble

Katy Freeway West

Greenspoint

Northeast Near

BellaireRichmond/Fountainview

GreenwayPlaza

WestLoop

Northwest

South Main/Medical Center

South

Westchase

San Felipe/Voss I-10 East

CBD

R E D N e w s . c o m 2 1

Kuykendahl Rd.

Ella Blvd.

Tracts 1 & 2

Grand Parkway (Proposed)

Tract 1• 1,136 FF on Kuykendahl Road | 5.69 Acres

Tract 2• 529 FF on Kuykendahl Road | 9.92 Acres • Great visibility on heavily traveled Kuykendahl Road• Located in dense residential area just west of I-45• +/- 400’ Northwest of Ella Boulevard, Houston, Texas• Zoning: None• Utilities: HC MUD #399• Key Map: 372B

PRICED REDUCED! Tract 1: $5.00 PSF; Tract 2: $5.00 PSF

Brokers Welcome

Rachel S. Grant 7887 San Felipe Suite 122,

Houston, TX 77063Phone: 713-789-3133

Cell: [email protected]

R. S. HartCommercial Brokerage, L.L.P.

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



LEASED OWNER ETARichardson 3521 W Plano Rd 1,500,000 100.00% KDC Real Estate Development & Investments Feb-15

Dallas CBD 2323 Ross Ave 450,000 66.40% Hall Financial Group Apr-15

Alliance Feather Grass Rd. 357,214 100.00% USAA Real Estate Company Oct-15

Upper Tollway/West Plano 7250 N Dallas Pky 342,066 15.90% Trammell Crow Company Aug-14

Uptown/Turtle Creek 2801 N Central Expy 250,000 100.00% The Richards Group Feb-15

Preston Center 8111 Westchester Dr. 190,000 100.00% Bandera Ventures Apr-15

DFW Freeport/Coppell 8951 Cypress Waters Blvd 188,440 0.00% Billingsley Company Aug-14

Upper Tollway/West Plano 6111 W Plano Pkwy 180,000 51.90% Billingsley Company Sep-14

DFW Freeport/Coppell 8950 Cypress Waters Blvd 175,585 100.00% Billingsley Company Dec-14

Uptown/Turtle Creek 2950 N Harwood St 167,735 40.70% International Center Development XVIII, LLC Apr-15

West LBJ Freeway Senlac Dr. & Wittington Pl 165,000 100.00% Billingsley Company May-15

DFW Freeport/Coppell 8840 Cypress Waters Blvd 164,784 0.00% Oct-14

Alliance 2201 Lou Menk Dr 164,000 100.00% Burlington Northern Railroad Apr-15

Alliance 9800 Hillwood Pky 157,908 0.00% Hillwood Properties Sep-14

Central Expressway 8020 Park Ln 149,510 0.00% Northwood Investors, LLC Jan-15

Quorum/Bent Tree 16400 N Dallas Pky 123,167 86.00% Spring Valley Construction Company Nov-14

Central Expressway 7859 Walnut Hill Ln 86,383 33.40% The Kroenke Group Jan-15

Ft. Worth CBD 407 Throckmorton St. 75,971 0.00% Sundance West Partners Aug-14

DFW Freeport/Coppell 1350 Lakeshore Dr 47,600 64.60% Lincoln Property Company Oct-14

DFW Freeport/Coppell 1315 S Belt Line Rd 40,600 0.00% Lincoln Property Company Sep-14

Frisco/The Colony 6601 Cascades Ct 34,787 0.00% CBRE Aug-14

Frisco/The Colony 5830 Crescent Dr 31,328 0.00% CBRE Aug-14

Frisco/The Colony 6240 Morning Star Dr 30,079 0.00% CBRE Aug-14

Frisco/The Colony 4850 Hwy 121 24,909 100.00% 121 Office Plaza LLC Dec-14

Frisco/The Colony 6270 Morning Star Dr 24,102 50.00% CBRE Aug-14

Alliance 2488 Golden Triangle Blvd 20,000 100.00% Oxley Williams Tharp Architects Aug-14

Alliance 8429 Park Vista Blvd 15,000 100.00% Yahweh-yireh LP Aug-14

West Southwest Ft. Worth 5700 Edward Ranch Rd 14,579 100.00% Edwards Geren Limited Oct-14

Uptown/Turtle Creek 2504 Maple Ave 14,063 100.00% Mohsen Heidari Dec-14

Office Ctr/West LBJ Ext 950 W John Carpenter Fwy 13,600 100.00% SkyPass Travel, Inc. Aug-14

Westlake/Grapevine 1575 E Southlake Blvd 12,500 100.00% Jefflyn & Company Aug-14

Westlake/Grapevine 2050 Hall Johnson Rd 12,000 88.40% Continental Real Estate Inc. Sep-14

Frisco/The Colony Warren Pky & Legacy Dr 10,000 0.00% Wynmark Commercial Aug-14

Dallas New Construction 2Q Lisa Bridges, Director of Market Research-HoustonBrittany Ofield, Research & Marketing Coordinator


CALL US TODAY FOR A FREE CONSULTATION281.402.6656

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

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

Do you consider all areas of Houston strong?

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

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

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

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

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

Are you seeing open concept more?

There is definitely a trend that way. We still have some users that refuse to transition to the open space concept but across the board we are see-ing the incorporation of more collaborative spaces and open concepts in office design. Many compa-nies that previously were not interested in open concept are starting to trend that way. It creates a more efficient use of space but it also helps with recruiting in some industries.

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

No, not the way it has in Austin, certainly. Be-ing right on the lake, Austin CBD has some natu-ral beauty. That whole culture gravitates around downtown. What we are seeing in Houston are multiple CBDs. There is Westchase, the Energy Corridor, the Woodlands, Sugar Land and Uptown. These areas have created live, work, and play solu-tions that are just as good as the “true” CBD but in other areas. If a person wants to live near the true downtown, it is sort of a challenge from a housing standpoint.

What about flight to quality. Are people want-ing more Class A space?

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

Have floor plates been getting larger?

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

Are you seeing more expansion or relocation of existing companies?

Both. The most interesting deal I have worked on was a company that leased a twenty thou-sand square foot, full floor sub-lease in the Energy Corridor with four employees. This was a new company to Houston, and their comment was, they needed to have a location in Houston. They only had four employees at the time, but they were confident enough that they were going to expand and move employees here so they sub-leased the full floor.

Well that certainly increases your cost per em-ployee, doesn’t it?

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

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

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

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

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

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

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

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

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

Expansion/Relocation to Houston ContinuesREDNews talks to Charlie Neuhaus, Principal with Avison Young, Houston

Charlie Neuhaus, PrincipalAvison Young - Houston

“Looking at what the major oil companies are doing in

Houston... We are going to see thirty-six months of continued positive absorption. It may slow down a bit but it will still be

healthy for Houston. Outside of that, it would take a notable global issue to slow us down from what we

are experiencing right now.”



713-773-5531 (P)

Kevin [email protected]

713-773-5572 (P)

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

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

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

• Site Area 9.3 Acres (405,108 SF)

• Building Area 127,955 SF (3-Story)

• Quoted Rental Rate $18.75 per RSF (NNN)

• Energy efficient building materials, lighting and mechanical systems

• Bright open floor plans with 10’ ceiling heights maximizing natural and ambient lighting

• Oversized restrooms with high quality finishes and granite counter tops

• Registered to be LEED certified core and shell

Mason Creek Office Center II21700 Merchants Way, Katy, TX 77449Strategically located along I-10 just inside the Grand Parkway (Highway 99) in Katy, Texas DELIVERS

2Q 2015

Leasing Information:

2

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

• Easy access to I-10 via a full interchange at Mason Road.• Within the Energy Corridor, one of Houston’s most dynamic and high growth

employment centers.• One quarter mile away from the one and only Tier IV data center in Houston.• Close proximity to strong labor pool, housing, medical facilities, hotels and retail.

Excellent local schools.• Part of master planned, deed-restricted park.• The Grand Parkway extension from I-10 to Highway 290 is now open providing

access to the north and northwest labor pool.

LOCATION

MASON CREEK OFFICE CENTER II

2

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

• Easy access to I-10 via a full interchange at Mason Road.• Within the Energy Corridor, one of Houston’s most dynamic and high growth

employment centers.• One quarter mile away from the one and only Tier IV data center in Houston.• Close proximity to strong labor pool, housing, medical facilities, hotels and retail.

Excellent local schools.• Part of master planned, deed-restricted park.• The Grand Parkway extension from I-10 to Highway 290 is now open providing

access to the north and northwest labor pool.

LOCATION

MASON CREEK OFFICE CENTER II



LEASED DEVELOPER

ESTIMATED DELIVERY

DATEWoodlands 23125 I-45 S 3,000,000 100.00% Gilbane Building Company Jul-14

Westchase 2101 Citywest Blvd 1,100,000 100.00% W.S. Bellows Construction Company Jun-16

CBD 609 Main St 1,057,668 0.00% Hines Feb-17

Northwest Far 5150 Westway Park Blvd 640,000 100.00% CyrusOne Mar-15

Katy Freeway West 925 N Eldridge Pky 600,000 100.00% Trammell Crow Company Dec-16

Galleria/Uptown 1500 Post Oak Blvd 600,000 100.00% Transwestern Oct-16

Katy Freeway West 935 N Eldridge Pky 546,604 100.00% Trammell Crow Company May-15

Woodlands Interstate 45 & Grand Pky 515,000 100.00% Patrinely Group, L.L.C. Dec-14

FM 1960/Hwy 249 SH 249 & Louetta Rd 456,000 100.00% Trammell Crow Company Jun-15

Katy Freeway East 9811 Katy Fwy 452,370 37.79% Anslow Bryant Construction Ltd. Nov-15

Katy Freeway West 11750 Katy Fwy 428,831 12.13% Mac Haik Realty LLC Dec-14

Westchase 10353 Richmond Ave 417,000 100.00% BMS Management, Inc. Sep-15

CBD 1110 Main Street 406,600 100.00% Hines Jul-15

Greenway Plaza 3737 Buffalo Speedway Ave 400,000 22.85% PM Realty Group Jan-15

Katy Freeway West 201 N Dairy Ashford Rd 336,000 100.00% Hines Mar-15



Katy Freeway West 15375 Memorial Dr 334,147 40.80% Skanska Commercial Development Jan-15

Woodlands 1735 Hughes Landing Blvd 331,840 100.00% The Woodlands Development Company Mar-15

Woodlands 1725 Hughes Landing Blvd 317,052 100.00% The Woodlands Development Company Mar-15

FM 1960/Hwy 249 4425 W Sam Houston Pky N 314,000 48.41% Transwestern Apr-15

Katy Freeway West 1414 Enclave 300,907 0.00% PM Realty Group Aug-15

Westchase 3600 W Sam Houston Pky S 300,000 0.00% PM Realty Group Dec-14

Northwest Far 5775 N Sam Houston Pky E 271,384 0.00% Radler Enterprises, Inc. Sep-14

Northwest Far 5725 N Sam Houston Pky W 271,384 0.00% Radler Enterprises, Inc. Mar-15

Greenway Plaza 3801 Eastside Dr 260,437 39.62% Midway Companies Aug-15

Katy Freeway East 700 Town & Country Blvd 254,489 0.00% Moody Rambin Jan-15

Katy Freeway West 17325 Park Row Rd 225,885 100.00% Transwestern Jul-14

Northwest Far 10720 W Sam Houston Pky N 206,754 0.00% Liberty Property Trust Jan-15

Katy Freeway East 825 Town & Country 195,842 47.71% Midway Companies Aug-15

Katy Freeway West 12140 Wickchester Ln 173,608 54.90% PM Realty Group Aug-14

Katy Freeway West 12120 Wickchester Ln 171,475 100.00% PM Realty Group Apr-15

Midtown 2229 San Felipe 170,038 11.66% Hines Jul-15

Woodlands 1575 Sawdust Rd 153,810 0.00% Stream Realty Partners Aug-14

Southwest Outlier 24275 Katy Fwy 151,187 0.00% Freeway Properties Mar-15

Katy Freeway West 16200 Park Row 150,000 25.93% Lincoln Property Company Jul-14

Katy Freeway West 16200 Park Row 150,000 0.00% Lincoln Property Company Sep-14

Katy Freeway East 9807 Katy Fwy 143,830 61.38% Anslow Bryant Construction Ltd. May-15

Northwest Far 5060 Westway Park Blvd 130,451 0.00% Panattoni Development Dec-14

Katy Freeway West 21700 Merchants Way 127,955 0.00% Myers Crow & Saviers, LTD. Mar-15

Southwest Outlier 2707 Commerce Center Blvd 125,000 0.00% Vista Companies Jun-15

Katy Freeway West 2051 S Greenhouse Rd 114,345 19.02% D’Agostino Companies Oct-14

Westchase 10300 Town Park Dr 106,992 100.00% Hines Sep-14

Post Oak Park 4444 Westheimer Rd 99,826 0.89% Oliver McMillan Jan-15

Katy Freeway West Grand Pky & Franz Rd @ Katy Fort Bend Rd 86,800 0.00% The Urban Companies Nov-14

Galleria/Uptown 1 Blvd Pl 83,073 95.87% Wulfe & Co. Jul-14

Woodlands 2829 Technology Forest Blvd 81,865 1.32% Black Forest Ventures Nov-14

Woodlands 128 Vision Park Blvd 75,000 0.00% D’Agostino Companies Jul-14

Southwest Outlier 2717 Commerce Center Blvd 73,796 66.66% Vista Equities Group Inc. Oct-14

Woodlands 460 Wildwood Forest Dr 64,535 22.58% Archway Properties Jul-14

South Main/Medical Center 1801 Binz St 52,362 65.10% Balcor Commercial LLC Jul-14

Southeast Outlier 7509 Broadway St 50,000 100.00% Jacob White Nov-14

Outlying Montgomery Cnty 32731 Egypt Ln 20,000 82.00% SHB Development LLC Jun-14

Houston New Construction 2Q Lisa Bridges, Director of Market Research-HoustonBrittany Ofield, Research & Marketing Coordinator


For Sale - 10,325 SF - User or Investment Property8616 Daffodil St., Houston - Westpark Tollway/Beltway 8 Area

Blake Hillegeist832.860.6066 | [email protected]

• Building has 95% A/C & Heat

• Located on 30,000 SF Land

• Concrete Surface Parking

• Wet - Sprinkler

• Easy Access to Westpark Tollway & Beltway 8

• Asking Price: $899,900

Richmond Avenue

8616 Daffodil St.

Dunvale R

oad

Sam H

ouston Tollway

Westheimer Road

Westpark Tollway

Hwy 59

Owner Retiring & Ready to SellOwner financing available to qualified buyer

Blake Hillegeist Real Estate2813 Newman StHouston, TX 77098Phone: (713) 526-6066Fax: (713) 526-6097

Executive Ranch 20 miles from new Exxon Campus!

21327 Cedar Lane, Tomball, Texas

• 133 acres of beautiful acreagewith Historic 1860’s Farmhouse

• 1 mile to Grand Parkway &40 miles from Houston

• Rare opportunity to purchase oneof the most desirable properties in the Rosehill area

• Close to everything yet acountry setting

• 218 Feet above sea level(One of the highest pointsin Harris County)

• Country home, ExcutiveRanch


Bridging the GapHow The I-35 Corridor is Changing the Face of Texas

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

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

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

The amount of money being invested into the region is also staggering, but absolutely necessary. In just the past 10 years alone, Hays County built $500 million in road infrastructure. According to Patrick Rose, President and founder of Corridor Title, that number doesn’t even include bike paths or sidewalks. That is just true infrastructure designed to make all of this growth possible. The idea is to make the area accessible, and viewed as one region. “The sooner we all get there and associate our businesses and our mindset around that, the better off we will be not only individually, but as a region,” said Rose.

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

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

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

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

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

by Amanda SimonianREDNews

continued on page 26

Speakers at CCIM & CTCAR event in Austin “New Urbanism in Suburbia.” From left to right Adriana Cruz, Patrick Rose and Peter French.

See an enhanced version of this article, including exclusive REDNews video at www.REDNews.com/I35-Corridor


LEVCOR, INC.

www.levcor.comPharr

LEASING INFORMATIONDan Smith

[email protected]

PHARR TOWN CENTEROPEN SUMMER 2015

Pad Sites For Sale and/or Lease:• NEC I-35 & Loop 4, Buda, TX - 3 Pad Sites For Sale

Directly in front of 2 new hotels; next to Starbucks & credit union .....$495K - $790K

• I-35 & McCarty Lane, San Marcos, TX - 3 Retail Pad Sites For Sale or Lease Stone Creek Crossing SC - .913 – 1.080 acres .............................................. Various

• I-35 & Center Street, Kyle, TX 30.25 acres – Retail Pad Sites from .80 – 14.68 acres ................... $5.00 - $17.00/SF

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

Commercial Lots for Sale • North & South sides of Schertz Parkway (fastest growing NE San Antonio area)

Two miles each if I-35, Shertz, Texas 8 lots ranging from 1.092 to 2.222 acres ......................................................... Various

Restaurant Building For Sale• 1121 North I-35, San Marcos, TX – In front of Springtown Mall

9,097 SF on .96 acre ...............................................................................$20/SF AS IS

Bank Building For Sale• 101 Springtown Way (aka Thorpe Lane), San Marcos, TX – Just west of I-35

7,578 SF on 1.214 acres ..........................................................................$1.45 Million

HOT DEVELOPMENT TRACTS IN THE I-35 Corridor!

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

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

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

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

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

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

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

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

continued from page 24

Plum Creek

In just the past 10 years alone, Hays County built $500 million

in road infrastructure.


THE WOODLANDS

Up to 49,372 SF of Prime Office Available2700 Research Forest

Joel Dalak713.974.5226

[email protected]

Subject to change or withdrawal without notice

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• 3 BUILDINGS

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• NOI: $192,000

Completely Renovated in 2014

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

[email protected]


Restaurants are much in the commercial real es-tate news these days as the latest and greatest anchor for retail centers. But they are a mixed blessing, taking up valuable parking from shops, while at the same time generating traffic to the center.

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

Following are some of the boxes which must be checked for a restaurant to be successful, and profitable:

•• Location that is noticeable-preferably on thoroughfare with high traffic.

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

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

ready to spend more freely than for a regular meal? Attracting these diners may be the dif-ference between financial success and failure.•• Lighting-while frequently done poorly or ig-

nored altogether, ideal lighting is with pink tinted bulbs focused on the center of each table. This makes everyone look their best.•• Furniture-high seating is best for chairs and

banquettes at bars and restaurants where people mingle and meet, and eye contact at standing level is important.•• Menu items selected to attract the appropri-

ate clientele-if you have pitcher beer on the menu, for example, that can be a signal to bik-ers. Do you want their Harleys parked outside, and the bikers mixing with your other clien-tele?•• Ethnicity of clientele-this is determined more

by the live entertainment you hire than by your menu items. You may attract low-spend-ing clients who drive away your high-spend-ing ones.•• Menu focus-does the restaurant have dishes

with low cost ingredients such as Mexican, In-dian, Vietnamese, Italian, and pizza, or dishes with high cost ingredients such as steak and seafood?

• What is on the menu and its pricing deter-mine the profit margin for the owner.

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

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

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

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

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

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

The Business of Operating a Restaurant

The monthly Mont-gomery County CREAM meeting at the Wood-lands featured local AVP of Toll Brothers, David Assid, presenting a live-ly and informative dis-cussion about the his-tory of Master Planned Communities (MPC).

Garden Cities, devel-oped after WWII near

London, were the forerunners of the modern MPC. These were designed to be totally self-sufficient communities down to the growing and raising of needed food stocks.

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

The Woodlands became a reality in the mid-70s. The Mall was added in 1994. It is reported that 40% of the top twenty MPCs in the country are in Greater Houston.

Toll Brothers was started in 1967 and has been an active developer of MPCs since their first in 1994 – Blue Bell CC in Montgomery County, PA. They have completed about 21, have 34 in vari-ous stages of development and are in the plan-ning process with 28 more. They have recently

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

David put together some numbers on the net economic effect to the area of an MPC like Wood-son’s Reserve. Basing the numbers on research done by the National Assoc of Home Builders, the 5 year economic benefit of a 1,000 unit MPC is expected to top $300,000,000. That includes de-velopment costs, construction costs, ripple jobs and local sales, tax benefit, and ongoing payrolls.

The next CREAM luncheon is on September 8th. Confirm early. Seating is limited. You can check us out at www.creamtx.com.

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

by Jim Wilkie, CCIMSenior V.P., Seacoast Commerce Bank

Jim Wilkie

RAY HANKAMER Hankamer & Assoc, Broker, Houston Contr ibut ing Wri ter

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Contact: Ray Hankamer• Hotels - Statewide

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• Hotel Site - HWY 281 - Edinburg, TX

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LAND/CHURCHES FOR SALE

International Church Realty(713) 541-4005

www.internationalchurchrealty.com

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

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

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

+/- 13 Acres Beechnut @ Rustling Leaves ........................................$6.25/PSF or $3,539,250

New Beginnings Family Church 6303 Bramley, Pasadena, TX - 8,240 SF. ......................................... ... $499,900

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

Miracle Life Church International 9930 Aldine Westfield - 3,200 SF. ................................................... ..... $259,900

LEASE SPACE - St Paul Presbyterian Church 7200 Bellaire Blvd. - 5,600 SF. .......................................................... $5,000/mo.

Multi-Purpose Facility w/housing 15402 Sellers Rd. - 7,000 SF ..........................................SOLD..............$225,000

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

Morgan Moliver, Client Services Manager

Mobile 817 821 [email protected]

For details on how your due diligence can affect your transaction, call us at

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What’s Happeningin CRE Texas

The following pages contain a calendar of Texas CRE events, networking photos and deals/announcements. For more of the above, log on to

REDNews.com. We update CRE news and events daily!

EVENTS • NETWORKING • DEALS • ANNOUNCEMENTS


Central / South Texas Au s t i n | S a n Anto n i o | R i o G ra n d e Va l l e y

Austin

BOMA ................................................................................ www.bomaaustin.org

CBA Austin ...........................................................................www.cbaaustin.com

CCIM .................................................................................... www.ccimtexas.com

CREW .................................................................................www.crewaustin.com

CTCAR ................................................................................ www.ctcaronline.com

IREM.................................................................................... www.iremaustin.org

RECA .................................................................................. www.recaonline.com

ULI ........................................................................................ www.austin.uli.org

San Antonio BOMA San Antonio .....................................................www.bomasanantonio.orgCCIM ........................................www.chapters.ccim.com/sanantoniosouthtexasCREW .........................................................................www.crew-sanantonio.orgIREM.............................................................................www.iremsanantonio.orgIREP........................................................................................... www.irepsa.comRECSA ............................................................................www.recsanantonio.comSABOR ........................................................................................ www.sabor.comSIOR (South Texas Chapter) ........................................................... www.sior.com

For a complete list of monthly events, visit their website

For more information onCALENDAR OF EVENTS

log on to

Email your events to:[email protected]

Event dates are based on each organization’s typical monthly schedule which is subject to

change. Please verify each event with the related organization.

Commercial Organization Contacts - Dallas | Fort Worth

Calendar of EventsSunday Monday Tuesday Wednesday Thursday Friday Saturday

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September 2014

CCIM Networking Luncheon &

Presentation 11:30 am – 1:00 pm

CTCARTexas Realtors Conference

7:30 am – 2:00 pm

IREM Austin Monthly Luncheon

11:30 am – 1:00 pm

BOMA Austin Community Service/ RMHC Volunteer

10:30 am – 1:00 pmCREW Austin

New Member Orientation 11:00 am – 11:30 am

CREW Austin Networking Luncheon & Presentation

11:30 am – 1:00 pm

CTCAR Property Information Exchange

7:30 am – 9:00 am

CREW San Antonio CREW-tini Mix Off

6:00 pm – 9:00 pm

IREM Austin Ethics for the

Real Estate Manager 8:00 am – 5:00 pm

BOMA Austin Membership Luncheon

11:30 am – 1:00 pm

REC Austin Charity Golf Classic

12:00 pm – 6:00 pm

ULI Austin2014 Texas Council Forum

8:00 am – 5:00 pm

CREW Network Convention & Marketplace (All Day)

ULI AustinA Conversation with

Reconnect Austin5:30 pm – 7:30 pm

CTCAR Networking Luncheon

“Transportation Development”11:30 am – 1:00 pm

ULI Austin 2014 Texas Council Forum

8:00 am – 5:00 pm

REC Austin Ideas Forum

11:15 am – 1:00 pmULI Austin

September Breakfast/Capital Markets 7:30 am – 9:00 am

BOMA San Antonio Monthly Luncheon

11:30 am – 1:15 pm

IREM San Antonio Redneck Bowl

2:15 pm – 5:00 pm

CTCAR Texas Realtors Conference

8:00 am – 3:00 pm

CCIMCharity Golf Tournament

11:00 am – 5:00 pm


Au s t i n | S a n Anto n i o | R i o G ra n d e Va l l e y

Networking For more networking photos, log on to www.REDNews.com | Send your networking photos to [email protected]

CREW San Antonio Luncheon

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

Rob Burlingame, CCIM President and Susie Wallis, CREW President

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

Eric Layne, CCIM and Brett Arabie

CCIM & CTCAR Luncheon

Networking before the luncheon.

Cody Condron, Beth Holman Lise Wineland, CCIM and Eric Layne, CCIM Caroline Pavlinik and Kelly Conway Paul Ott and Bob Rein, CCIM

Attendees at the luncheon.


commercial real estate women

2014 SponsorshipPackages now available!

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

SPONSORSHIP OPPORTUNITIESSTART AT $750.

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

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North Texas D a l l a s | Fo r t Wo r t h

BOMA Dallas....................www.bomadallas.org

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

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

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

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

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

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

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

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

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

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

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

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

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



log on to




Commercial Organization Contacts - Dallas | Fort Worth


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September 2014

CREW Fort Worth Chisholm Trail Ranch

Development Plans with Steve Saxton

11:30 am – 1:00 pm

REC Greater Fort Worth Education Summit

7:30 am – 10:00 am

ULI North Texas Breakfast Hot Topics in Housing

Development 7:30 am – 9:00 am

BOMA Dallas Design, Operations &

Maintenance of Building Systems, Part 1

9:00 am – 4:00 pm

BOMA Dallas Boilers, Heating Systems, and

Applied Mathematics 5:00 PM – 8:00 PM

BOMA Fort Worth Monthly Luncheon

11:30 am – 1:00 pm

CREW Dallas Outstanding Achievement

Award Dinner 6:00 pm – 8:30 pm

IREM Dallas Luncheon

11:00 am – 1:00 pm

NTCAR Young Professionals 3rd

Quarter Event 5:30 pm – 7:30 pm

BOMA Dallas Luncheon Education Seminar

8:00 am – 11:00 amBOMA Dallas

Luncheon 11:30 am – 1:00 pm

NTCAR MCE: Principles of Real Estate

Development + Legal Ethics (Part 1) 8:00 am – 5:00 pm

BOMA Fort Worth Fall Event: It’s Like Totally the 80s

5:30 pm – 9:00 pmNAIOP North Texas

Breakfast How the Pension Money Thinks Today 7:00 am – 9:00 am

NTCAR MCE: Principles of Real Estate

Development + Legal Ethics (Part 2) 8:00 am – 3:30 pm

BOMA Dallas Engineer Lunch & Learn

11:30 am – 1:00 PMCCIM North Texas

Luncheon Midyear Market Panel Review 11:30 pm – 1:00 pmCREW Fort Worth

Roaring 20s Casino Night 6:30 pm – 9:00 pm

NTCAR 3rd Quarter Membership Meeting

7:30 am – 9:00 am

NTCAR YPF Philanthropy: BocceBall

7:30 am – 4:30 pm

IREM Dallas 19th Annual Golf

Tournament 7:00 am Registration

REC Greater Fort Worth 2014 Panther City Dodgeball

Tournament 5:00 pm – 8:00 pm

IREM Dallas Past Presidents Appreciation

Luncheon 11:30 am (Invitation Only)

CREW Network 2014 Convention &

Marketplace (Miami, FL)


CCIM 101 Class Happy Hour at The Flying Saucer


Lisa Novotny Price, Janice Peters, Betsey PriceHillary Lau, Christine Perez, Betsey Price, Michelle Hudson, Rhett Taylor, Amber Terrell

CREW Dallas luncheon

43 students in attendance. Lots of learning going on.

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

Chris Mims, Aarica Mims, with two other North Texas CCIM Members Collin Flynn,CCIM, Debi Carter, CCIM, Ralph Bullard and Clifford Bogart, CCIM


Southeast Texas Ho u s to n a n d Vi c i n i t y | G a l ve s to n

ACRP ..................................................www.acrp.orgBACREN .......................................www.bacren.comBOMA ................................www.houstonboma.orgCCIM ...................................www.ccimhouston.orgCoreNet ...............www.houston.corenetglobal.orgCREAM .......................................www.creamtx.comCRE ......................................................www.cre.orgCREN ................................. www.crengulfcoast.com

CREW .................................. www.crewhouston.orgFBSCR ..............................................www.fbscr.comGreater Houston Partnership ..... www.houston.orgHOLBA ............................................ www.holba.orgHRBC .................................www.houstonrealty.orgIREM ....................................www.iremhouston.orgNAIOP ................................www.naiophouston.orgO’Connor & Associates ............www.poconnor.com

HREC ............... www.houstonrealestatecouncil.orgSIOR .....................................www.siorhouston.comULI ......................................... www.houston.uli.org



log on to




Your real estate deserves real management.Count on a CPM® professional to deliver real results.

To find a CPM®

in your area, visitwww.irem-dallas.org

For optimal returns on your real estate portfolio, turn to a CERTIFIED PROPERTY MANAGER® (CPM®).

A CPM® has:Demonstrated experience in building value Pledged commitment to the highest ethical standardsProven expertise in maximizing returns

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IREM AUSTIN PRESENTS ETH800 -Ethics for the Real Estate Manager

September 10th, 2013, 8:00am – 5:00pmFor more information and registration

visit iremaustin.org

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Contact Ginger Coleman at 713.783.0297or [email protected] /www.ccimhouston.org

CCIM Course ScholarshipsCI 101, CI 102, CI 103, CI 104

or CCR & Exam

Available to current Houston/Gulf CoastCCIM Chapter Members

Networking Educat ion Technology

Commercial Organization Contacts - Houston and Vicinity | Galveston


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September 2014

CREW Luncheon The Changing Retail Landscape

with Dana Telsey 11:30 am – 1:00 pm

CREN Luncheon 11:00 am – 1:00 pm

Greater Houston Partnership Soiree & Afterparty 7:00 pm – 2:00 am

BOMA Houston Monthly Luncheon with Paul

Bettencourt Talkin’ Taxes with the Taxman

11:30 am – 1:30 pmGreater Houston Partnership

Tower Conference 2014 9:00 am – 3:30 pm

SIOR Luncheon 11:30 am – 1:00 pm

CRE Houston/Gulf Coast Fall Luncheon

11:30 am – 1:00 pm Greater Houston Partnership

Member Networking Social 5:30 pm – 7:30 pm

CCIM Houston Monthly Luncheon

11:30 am – 1:00 pmULI Houston

4th Annual Sporting Clays Scholarship Classic

12:00 pm – 6:30 pm

FBSCR Monthly Meeting

8:00 am – 9:00 amIREM

MKL 406 2-Day Course 8:30 am – 5:00 pm

Houston CoreNet Emerging Leaders Fall Event

5:30 pm – 8:30 pmIREM

MKL 406 2-Day Course 8:30 am – 5:00 pm

BACREN Monthly Luncheon

Speaker Barbara Cutsinger 10:30 am – 1:00 pm

HRBC Monthly Meeting

7:00 am – 8:30 amIREM

HRS 402 2-Day Course 8:00 am – 5:00 pm

CREW Sponsor Appreciation Reception

5:00 pm – 7:00 pm

ACRP Breakfast

7:00 am – 8:30 amCREN

Happy Hour 5:30 pm – 8:00 pm

Greater Houston Partnership Cybersecurity Forum 8:30 am – 11:00 am

BOMA Houston HP RPA/FMA Course

High Performance Sustainable Building Principles 8:00 am – 5:00 pm

CREN Breakfast Marketing Session 7:15 am – 9:00 am

Greater Houston Partnership Luncheon State of Transportaion in Texas

11:30 am – 1:30 pmIREM

HRS 402 2-Day Course 8:00 am – 5:00 pm

Houston CoreNET September Meeting

Getting Around: Houston’s Mobility Crisis

7:30 am – 9:30 amGreater Houston Partnership HYPE Thought Leader Breakfast

7:30 am – 9:00 am

IREM Leadership Seminar 8:30 am – 11:00 am

IREM Luncheon: Celebrating Women

in the Workplace 11:30 am – 1:00 pm

BOMA Houston HP RPA/FMA Course

High Performance Sustainable Building Principles 8:00 am – 5:00 pm

C.R.E.A.M. Luncheon, Speaker: Keith

Simon, Coventry Dvelopment Group and Robert Fields of

Patrinely Group 11:00 am – 1:00 pm


Ho u s to n a n d Vi c i n i t y | G a l ve s to n


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

C.R.E.A.M. August Networking Luncheon

Jordan Monroe, Armando Ruiz Chris Bezdek, Ruben Maldonado, Josh Martinez

Bud Friedman, CCIM, Amanda Carrington

It’s a full house at the CCIM luncheon!

CCIM Luncheon

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

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

David Assid of Toll Brothers presenting.Gwen Reilly, First Continental Title and Jim Garrity, Garrity Commercial Real Estate

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

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

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

CREN Luncheon

IREM Houston Prime Time Bowl-A-Thon


ANNOUNCEMENTS & DEALS DONECENTRAL/SOUTH TEXAS (AUSTIN/SAN ANTONIO AREAS) Log on to REDNews.com for daily updates

LANDDripping Springs (SALE) Taylor Morrison Home Corp. (NYSE: TMHC) purchased 100 acres for another new home community within the city limits of Dripping Springs. Bruce and John Endendyk of Case Commercial Real Estate Partners handled the transaction.Killeen (SALE) Gander Mountain Sports has purchased 6.6 acres of land at Athlens and East Central Texas Expressway, Killeen. Charlie Roof of Retail Solutions represent-ed the seller and Daniel Taylor of CBRE represented the buyer.

MULTI-FAMILYSan Antonio (SALE) Falkin Platnick Realty Group Inc. (FPRG) and RZI Bella Made-ra LLC have acquired a 328-unit Class-A apartment community near the South Texas Medical Center. The seller was a Harbor Group International affiliate. FPRG will man-age the property and oversee a capital improvement program to enhance the prop-erty. About $400,000 in upgrades are planned.San Antonio (DEVELOPMENT) A new luxury apartment community has broken

ground. Aura at the Rim is being built by Dal-las-based developer Trinsic Residential Group LLC. The residential project stands four stories tall and encompasses 308 units.

OFFICEAustin (DEVELOPMENT) Los Angeles-

based investor, Karlin Real Estate is a formidable presence in Austin as it breaks ground on the first element of a $1 billion multi-use development in North Austin. The first element under construction is Parmer 3.2, a 192,000-square-foot Class A of-fice building near McCallen Pass on the west side of the development. Karlin will own the Parmer project and Trammell Crow will be the master developer. Mark Emerick and John Barksdale of CBRE Group, Inc. are handling the marketing for the develop-ment.Austin (SALE) New York-based Clarion Partners continues to invest heavily in Aus-tin with the purchase of Plaza on the Lake from Austin-based Endeavor Real Estate Group. Financial details were not disclosed, but the property, which was built in 1987,

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

Austin (Lease) Outbound Engine, Inc. leased 11,199 SF of office space located at 504 Lavaca St. in Austin. The space will house the company’s headquarters. Russell Young and Todd Gilfillan with CBRE Austin represented the tenant. Jason Steinberg with ECR

represented the Landlord.

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

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

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

Manor (SALE) Hunington Properties, Inc. a full service commercial brokerage com-pany has announced the sale of the Shops at Shadow Glen, a 15,438 square foot shop-ping center in Manor, TX. The project is located at the northwest corner of the inter-section of Shadow Glen Blvd. and Highway 290 on approximately 2.5 acres. Edward A. Benton and Huninton Properties, Inc. Aron had the exclusive listing to sell the

property for a Houston developer. The buyer was a local investor from Austin, TX. Hunington Properties, Inc. will continue to manage and lease the property.

Round Rock (SALE) A private real estate fund advised by Crow Holdings Capital Real Estate in Dallas recently purchased a retail power center

in Round Rock from Madison Capital Management of Greenwood Village, Colorado. The price was not disclosed but the Williamson Central Appraisal District values the land and improvements at about $23.7 million. CBRE’s National Retail Investment Group was retained to handle the listing. Brokers included Chris Cozby and Chris Ge-rard in Dallas and Kevin Holland in Houston.

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

San Antonio (SALE) CBRE’s National Retail Investment Group announced the sale of Potranco Village Shopping Center in San Antonio to an anonymous buyer. Texas-based Barshop & Oles Company sold the asset for an undisclosed price. It has

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

ANNOUNCEMENTSMichele Gary will join Adam Zimel — both had a long and successful history with The Weitzman Group — at the Austin-based brokerage and development company.

Kyle Hemminger joined Lan-caster Pollard as vice president of the Austin office. Hemminger will oversee senior living providers and health care project financings

for clients in Central and West Texas, including Austin, Dal-las, Fort Worth, and El Paso.

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

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

Michele Gary

Kyle Hemminger

Scott Lamontagne

Case McCoy


ANNOUNCEMENTS & DEALS DONECENTRAL/SOUTH TEXAS (AUSTIN/SAN ANTONIO AREAS) Log on to REDNews.com for daily updates

ANNOUNCEMENTS & DEALS DONENORTH TEXAS (DALLAS/FT. WORTH AREAS) Log on to REDNews.com for daily updates

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

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

Dallas (DEVELOPMENT) Crow Holdings Capi-tal Partners, LLC announce the development of Mountain Creek, a new industrial park situ-ated along Interstate 20 & Grady Niblo Road in Dallas. Located within the South Dallas sub-market, the 87-acre development will include two buildings totaling 1.3 million square feet of new distribution and warehouse space. Kacy

Jones, Steve Koldyke and Wilson Brown, with CBRE’s Dallas office, have the ex-clusive leasing assignment for Mountain Creek. Crow Holdings Capital Partners has hired McFadden & Miller as contractor, and Azimuth Architecture as architect.

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

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

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

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

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

Dallas (SALE) Capital Commercial Investments Inc. of Austin has bought Two Hickory Centre, an office building in Farmers Branch, Texas, just north of Dallas. The 97,117-square-foot office building at 1750 Valley View Lane is about 40 percent occupied, with tenants including Beazer Homes, Border Foods and Bartlett Cocke. CBRE’s Shannon Brown, Michael Dudley and Ben Davis represented the seller, Los Angeles-based Cathay Bank, in the deal.

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

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

Plano (SALE) The Woodmont Company has completed the sale of a newly construct-ed 14,550-square-foot single-tenant retail property fully occupied by Walgreens. Brad Cruickshank and Randy Bell of The Woodmont Company represented the seller in the transaction, Plano Spring Creek Partners from Fort Worth. The buyer, a California-based private investor, was represented by Patrick McCaughey and Ted Gallagher of Cassidy Turley / Terranomics.

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

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

Sperry Van Ness / Visions Commer-cial welcomes Rickey Wilson, CPA, as accounting manager. Wilson is in charge of annual budgeting, year-end reporting, financial review, payroll and human resources for not

only Sperry Van Ness / Visions Commercial, but also its two sister companies, Visions Realty & Investments and Frontline Property Management. In addition, he works with the man-agement team on business strategy and financial planning.

Emmitt Smith, cofounder of ESmith Realty Partners, and his wife Pat Smith were honored in Washington, D.C. as recipi-ents of the 2014 Congressional Horizon Award for excellence in community service. The pair was recognized for their con-tributions to youth through Pat & Emmitt Smith Charities, a public charity that creates and funds unique educational experiences and enrichment opportunities for underserved children.

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

Chad Ricks

Rickey Wilson

Phil Rosenfeld of Colliers, Eliza Solender of Solender Hall, Heather Lourcey of The West-wood School, Matt Thompson of Colliers

Emmitt Smith

Bo Estes


ANNOUNCEMENTS & DEALS DONESOUTHEAST TEXAS (HOUSTON AREA) Log on to REDNews.com for daily updates

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

CORRECTION: Houston (SALE) REDNews printed the incorrect photo in relation to the sale of the Mitchelldale Business Park in the August 2014 issue. Houston-based REIT Hartman Short Term Income Properties XX purchased the Mitchelldale Business Park at 5151-5401 Mitchelldale St. in Houston, TX from Falcon Southwest for an undisclosed price. Rusty Tamlyn and Trent Agnew of HFF represented the seller, while

Julian Kwok, Dave Wheeler and Russell Turman represented Hartman in-house.

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

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

MULTI-FAMILYHouston (SALE) Marcus & Millichap announced the sale of Tara Oaks, a 126 unit apartment property located in Houston. The asset had a list price of $3,980,000. Clint Roberts, an Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a local investor. Roberts secured the buyer, a foreign national investor, in less than two weeks of marketing the property. Tara Oaks is located at 3800 Sherwood Lane in Houston, TX.

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

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

OFFICEHouston (PURCHASE) The building located at 5100 Westheimer a/k/a HALBOUTY

CENTER was built by Gerald Hines in 1973 on property leased by Hines for a 99 year period. The current owners, represented by Joe. E. Evans and Janae Evans, purchased the Halbouty Center building and assumed the lease in 1991. Joe and Janae Evans of Evtex Companies have announced the successful purchase of the underlying fee title to the property from the original land owner. Joe stated that he has

been negotiating with the land owner for over 20 years to aquire the fee title to this strategic high profile site in the heart of the Galleria. The purchase price paid for the fee title was not disclosed.

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

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

Houston (SALE) A Class-B Energy Corridor office park has been purchased in an off-market transaction. Kirkwood Atrium Office Park consists of two multitenant office buildings standing four and five stories and containing 54,319 and 68,396 sf, respectively. Dornin Investment Group bought the property. Completed in 1979 on 3.7 acres at 11777

Katy Fwy., the property also has a 360-space parking lot. The buildings are 83 percent occupied with average in-place rents of $17.75 per sf. Average rental rates for Class-B buildings in the submarket are over $25 per sf. HFF arranged the sale. Financing was provided by ViewPoint Bank.

Houston (SALE) Colonial Group, LP purchased Plaza Del Oro Professional Building located at 8111 N. Stadium Drive. Randy Hutchison of OAR Realty Partners, LLC represented the buyer, and Joan Collum of Collum Commercial represented the seller. OAR Realty Partners, LLC has been retained by the new owners to handle the property management and leasing assignment for the building. Randy Hutchison will oversee the management and leasing.

ANNOUNCEMENTSSugar Land City Manager Allen Bogard recently selected Jennifer May to serve as director of economic development. May was appointed to the position on an interim basis in April when Regina Morales resigned to pursue new opportunities.

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

Mr. Limperos brings over 25 years of industry experience to the

company. His primary role will be to specialize in the sales and leasing of industrial, land and investment properties throughout Houston.

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

Jennifer May

Dan Healy and Allison Hall

Nick Limperos


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

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

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

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

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

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

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

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

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

Knowing it’s important, but not knowing why. You have to have a strategy. If you go at it all willy nilly you’re probably making all of these (and many more) mistakes. There is a science to it, yes but it’s not rocket science. Sit down. Think about it. Find someone that specializes in it to help you sort it out.

Having no social media at all. Obviously. Social media, when done right, is one of the least expensive and most powerful marketing tools you have at your disposal.

LASTPAGE

Social Media Are you doing it wrong?

by Amanda SimonianREDNews

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

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

10

98765

4321

A A Realty CoAccredited Management Organization

OFFICE/RETAIL SPACEFOR LEASE

A A Realty CoAccredited Management Organization

For more informationKenneth K.Y. Leung281.467.3535713.988.0888 [email protected]

1 2 3

Beltway 8 W

est

Westheimer Rd

Westpark Tollway

1. Woodland Park Shopping Center 11380 Westheimer, Houston 77077

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

2. Kaleidoscope 10612-10692 Westheimer, Houston, TX 77042

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

3. Park West Plaza 8989 Westheimer, Houston 77063

• 20,000+ SF Available• Up to 6,000+ SF Contiguous Space• Aggressive lease terms - $13.00/SF Gross• Generous surface parking at no charge for

open, non-reserved spaces• Card-key controlled access• Pylon signange available• On-site management• Parking ratio - 3.4/1000

5909 West Loop South, Suite 135, Bellaire, Tx 77401

Return Service Requested

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POSTMASTER: PLEASE EXPEDITE TIME SENSITIVE MATERIAL PRSRT STDU.S. POSTAGE

PAIDPermit No. 2436

DALLAS, TX

October 28-29, 201417th Annual COMMERCIAL REAL ESTATE

Co-Sponsored with

LOCATIONGarrett-Townes HallSouth Texas College of Law1303 San Jacinto Street, Houston, Texas 77002 Complimentary Wi-Fi provided

DATE AND TIMETuesday, October 28, 2014 (8:30 am - 5:45 pm); Networking Reception from 5:45 pm - 7:00 pmWednesday, October 29, 2014 (8:30 am - 3:50 pm)

REGISTRATIONView program details and register online atwww.stcl.edu/cle

CONTACT USContinuing Legal Education Department(713) 646-1757 or (800) 646-1253 [email protected]

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

not only the mandatory TREC Legal and TREC Ethics courses, but more than enough TREC-approved elective hours to satisfy your entire 15-hour continuing education requirement.** Attendees will hear from commercial real estate industry experts like Dr. Mark Dotzour about Texas’ economy, Jack Steele about Texas’ changing demographics, Dr. Harold

Goodin about Texas’ transportation. Larry Nettles will cover fracking and the Clean Water Act in his presenta-tion on hot topics in environmental law, Reid Wilson and Professor Matt Festa will deconstruct the Ashby High Rise litigation (and explain why it could happen again), and the Director of Houston’s Planning and Development depart-ment, Patrick Walsh, will provide attendees with glimpse of what the future holds for Houston. Key panels on Land, Energy, and New Development as well as several practical sessions about using (and not using) technology round out the packed agenda.

Patrick Walsh at the end of Day 1 at which attendees and speakers can meet and mingle.

**Does not meet Broker Responsibility course requirements.

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South Texas College of Law / Houston1303 San Jacinto Street, Houston, Texas 77002

Documents

REDNews September 2014