Monday, March 30, 2009

New Ellington Armed Forces Complex

Four Houston companies are set to begin construction at Ellington Field next month.
SpawGlass Construction Corp. will serve as contractor for the new $48.4 million Armed Forces Reserve Complex Phase II.

Gensler & Associates Architects will provide architecture services for the project, Walter P. Moore will serve as the structural and civil engineer and Lockwood, Andrews & Newnam Inc. will provide mechanical, electrical and plumbing and fire protection services.
Construction on the second phase is scheduled to be completed by November 2010.
The design-build project consists of 10 buildings and associated site improvements required for Army Reserve, Navy, Marine Corps Reserve and National Guard support and training missions. It includes a training center building, an entry control facility, a welcome center, a battle projection center, a vehicle maintenance building, a vehicle holding shed, one heated and three unheated storage buildings.
The new AFRC could accommodate Texas National Guard units from areas including Baytown, Pasadena and Ellington Field if the state decides to relocate those National Guard units, according to the U.S. Army. For more information see: or

Friday, March 27, 2009


The Houston Realty Breakfast Club has changed its name to Houston Realty Business Coalition to better reflect the organization’s activities.
More than 275 businesses, real estate professionals and political leaders belong to the political action committee.
“The previous name did not express the purpose or the importance of our PAC and educational activities,” HRBC President David Dominy, said in a prepared statement.
The organization was formed in 1967 to help elect leaders who support rights associated with the private ownership of property. The coalition holds 10 to 15 meetings each year, which often feature top politicians from the city, county and state levels. For more information see or or
or Houston Business Journal - by Jennifer Dawson Reporter

Tenants slow to the gun these day

As we all know and as we are all aware, the recent events in the capital and financial markets have drastically impacted businesses and their decision making process. What has been unusual about the recession of 2008/2009 has been its significant impact on virtually every industry, and we are seeing very high levels of workforce job losses so early on in this business down-cycle. As a result, many businesses have been delaying earlier plans to expand, relocate or upgrade the location or image of their facilities. At present, both the investment sales markets and leasing velocity has slowed considerably as a result of corporate America “treading water” during these current uncertain economic times. This has created an interesting dichotomy however, for owners of commercial office buildings. With many tenants delaying their plans for long term commitments, they are seeking instead to renew in existing locations for shorter terms of one to two years, to give them time to better evaluate their longer term need for space while the market is in turmoil. For landlords of existing buildings with reasonably high levels of occupancy, this has actually been a boon to net revenue generation. The short term renewals that are being consummated are typically at the full asking rents in a building, but with minimal to no concessions such as tenant improvement allowances or rental abatement. Interestingly, from a bottom line perspective, these short term leases are favorable given their lack of costly concessions although they do not add to the long term value of the building. On the flip side, owners of properties looking to add tenants are in the position of competing for a smaller pool of tenants who will actively consider a new location and longer term lease commitment, and as a result, the concessions necessary to secure these tenants has increased measurably. Until more confidence is felt in the overall economy, this cycle will likely continue. So despite the challenging times, the current economic trend has lent an unusual benefit to the owners of those buildings that are well leased and positioned, where many tenants are committing to renew, although for shorter lease terms in many instances. Written by : Tamara Kos, a Broker in the Chicago office of Transwesten Properties who specializes in leasing representation for owner clients in downtown Chicago,For more information see ; or

Thursday, March 26, 2009


Carlson Capital LP, founded in 1993 and based out of Dallas, has opened a new location at the Bank of America building at 700 Louisiana St. in Houston. Carlson Capital is temporarily occupying a space at 700 Louisiana until its 8,774 square feet of space on the 50th floor is built out, a project set to finish in the second quarter. Carlson Capital manages private equity and hedge funds, providing services to pooled investment vehicles and corporations. The new office will be run by Ron Hulme, who was hired in November as Carlson's CEO. For more informaion see: or
or call us at 713 782-0260

Friday, March 20, 2009


Retail powerhouse hungry for Hispanic share
Houston Business Journal - by Allison Wollman

Wal-Mart Stores Inc. is planning to open its first Hispanic-focused supermarket this summer in Houston as the retail giant continues to expand its dominance in the grocery industry.
As part of Bentonville, Ark.-based Wal-Mart’s store refresh program, the company is converting two existing 39,000-square-foot Wal-Mart Neighborhood Markets — one in Phoenix and one in Houston — to Hispanic-oriented grocery stores.
These two stores, which are located in Hispanic communities, will open during the first half of the year under the name Supermercado de Walmart.
Wal-Mart said in a statement that the stores will feature a new layout, signing and product assortment designed to make them relevant to Hispanic customers. The staff will also be bilingual. For more information see ; or

Tuesday, March 17, 2009

Lone Star buys buildings

Lone Star College-North Harris has purchased two office buildings near the Houston Northwest Medical Center that will be used for the college’s health professions building.
The two entities, which have been working together for more than 23 years, offer a program that enables nursing students to rotate through several different nursing units.
The new facilities, located on FM 1960 West, will include a nursing lab, computer lab, a library and a student study area. The entities also plan a simulation lab.
"This acquisition will give the college an expanded presence in the community and will help us meet the growing need for classroom and lab space to train health professionals -- the strongest and highest in demand of the college's work force programs," LSC-North Harris President Dr. Steve Head said in a statement.
The school expects construction to start in October and be finished in May 2010.
Financial resources for the purchase and renovation come from the 2008 Lone Star College System bond. For more information see or

Monday, March 16, 2009

Top 25 Office Space OWNERS

Total Office Portfolio: 93.6 million sq. ft.280 Park Ave., Ste. 22WNew York, NY 10017Phone: (212) 454-3900Web site: Charles B. Leitner, Global Head; Michael Luciano, Global COO
2. Brookfield Properties Corp.
Total Office Portfolio: 59.5 million sq. ft.Three World Financial Center200 Vesey St., Ste. 1100New York, NY 10281Phone: (212) 417-7000Web site: Ric Clark, President/CEO; Dennis Friedrich, President/COO, U.S. Commercial Operations; Tom Farley, President/COO
3. The Blackstone Group
Total Office Portfolio: 57.9 million sq. ft.345 Park Ave.New York, NY 10154Phone: (212) 583-5000Web site: Peter Peterson, senior chairman; Stephen Schwarzman, chairman/CEO; Hamilton James, president/COO
4. Hines
Total Office Portfolio: 55.4 million sq. ft.2800 Post Oak Blvd.Houston, TX 77056Phone: (713) 621-8000Web site: Gerald D. Hines, Chairman; Jeffrey C. Hines, President; C. Hastings Johnson, EVP/CFO
5. CB Richard Ellis Investors
Total Office Portfolio: 49.8 million sq. ft.515 S. Flower St., 31st FloorLos Angeles, CA 90071Phone: (213) 683-4300Web site: Vance Maddocks, CEO; William Harris, President/COO; Robert Zerbst, Chairman
Total Office Portfolio: 47 million sq. ft.730 Third Ave.New York, NY 11762-3206Phone: (800) 842-2733Web site: Scott Evans, EVP, Asset Management; Edward Grzybowski, CIO; Thomas Garbutt, head, global real estate
7. ING Clarion Partners
Total Office Portfolio: 46.8 million sq. ft.230 Park AveNew York, NY 10169Phone: (212) 883-2500Web site: Stephen Furnary, CEO/Managing Director; Bill Kracuh, Global Marketing Head; Frank Sullivan, Managing Director
8. Vornado Realty Trust
Total Office Portfolio: 44.2 million sq. ft.888 Seventh Ave.New York, NY 10019Phone: (212)894-7000Web site: Steven Roth, Chairman/CEO; Michael D. Fascitelli, President; Joseph Macnow, EVP/CFO
9. Boston Properties
Total Office Portfolio: 43.8 million sq. ft.800 Boylston St., Ste. 1900Boston, MA 02199Phone: (617) 236-3300Web site: Mortimer B. Zuckerman, Chairman; Edward H. Linde, CEO; Douglas T. Linde, President
10. LaSalle Investment Management
Total Office Portfolio: 39 million sq. ft.200 East Randolph Dr.Chicago, IL 60601Phone: (312) 782-5800Web site: Jeff Jacobson, CEO; Jaques Gordon, International Director, Research & Strategy; Matthew Reed, International Co-Head, Acquisitions
11. Duke Realty Corp.
Total Office Portfolio: 36.3 million sq. ft.600 E. 96th St., Ste. 100Indianapolis, IN 46240Phone: (317) 808-6000Web site: Dennis D. Oklak, Chairman/CEO; Robert M. Chapman, COO
12. HRPT Properties Trust
Total Office Portfolio: 35.3 million sq. ft.400 Centre St.Newton, MA 02458Phone: (617) 332-3990Web site: John A. Mannix, President/COO; John C. Popeo, Treasurer/CFO; Jennifer B. Clark, SVP
13. Mack-Cali Realty Corp.
Total Office Portfolio: 33.3 million sq. ft.343 Thornall St.Edison, NJ 08837Phone: (732) 590-1000Web site: Mitchell E. Hersh, President/CEO; Barry Lefkowitz, EVP/CFO; Michael Grossman, EVP
14. SL Green Realty Corp.
Total Office Portfolio: 32.2 million sq. ft.420 Lexington Ave.New York, NY 10170Phone: 212-356-4109Officers: Marc Holliday, CEO; Andrew Mathias, President/CIO; Greg Hughes, CFO & COO
15. Brandywine Realty Trust
Total Office Portfolio: 31.9 million sq. ft.555 E. Lancaster Ave., Ste. 100Radnor, PA 19087Phone: (610) 325-5600Web site: Gerard H. Sweeney, President/CEO; Howard Sipzner, EVP/CFO; George Johnstone, SVP, Operations
16. Behringer Harvard
Total Office Portfolio: 30.4 million sq. ft.15601 Dallas Pkwy., Ste. 600Addison, TX 75001Phone: (214) 655-1600Officers: Robert Behringer, CEO; Bob Aisner, President/COO; Bob Chapman, EVP/Co-COO
17. J.E. Robert Cos.
Total Office Portfolio: 27.7 million sq. ft.1650 Tysons Blvd, Ste. 1600McLean, VA 22102Phone: (703) 714-8000Web site: Joseph E. Robert Jr., Founder/CEO; Michael E. Pralle, President/COO; Malcolm LeMay, President, Europe
18. Highwoods Properties
Total Office Portfolio: 25.7 million sq. ft.3100 Smoketree Court, Ste. 600Raleigh, NC 27604Phone: (919) 431-1521Web site: Ed Fritsch, President/CEO; Mike Harris, EVP/COO; Terry Stevens, SVP/CFO
18. Liberty Property Trust
Total Office Portfolio: 25.7 million sq. ft.500 Chesterfield Pkwy.Malvern, PA 19355Phone: (610) 648-1700Web site: William P. Hankowsky, Chairman/CEO; Robert E. Fenza, EVP/COO; George J. Alburger Jr., EVP/CFO
19. Shorenstein Properties
Total Office Portfolio: 21.3 million sq. ft.235 Montgomery St., 16th FloorSan Francisco, CA 94104Phone: (415) 772-7000Web site: Douglas W. Shorenstein, Chairman/CEO; Glenn A. Shannon, President; Richard A. Chicotel, Managing Director/CFO
20. Wells Real Estate Funds
Total Office Portfolio: 20.5 million sq. ft.6200 The Corners Pkwy.Norcross, GA 30092Phone: (770) 449-7800Web site: Leo Wells, President; Don Henry, Chief Real Estate Officer; Kevin Race, CFO
21. KBS Realty Advisors
Total Office Portfolio: 18.7 million sq. ft. 620 Newport Center Dr., Ste 1300Newport Beach, CA 92660Phone: (949) 417-6500Web site: Charles J. Schreiber Jr., CEO; Peter M. Bren, Chairman/President; James C. Chiboucas, Vice Chairman
22. The Inland Real Estate Group of Cos.
Total Office Portfolio: 18 million sq. ft.2901 ButterfieldOak Brook, IL 60523Phone: (630) 218-8000Web site: Daniel L. Goodwin, Chairman
23. AEW Capital Management
Total Office Portfolio: 15.3 million sq. ft.World Trade Center East, Two Seaport LaneBoston, MA 02210Phone: (617) 261-9000Web site: Jeffrey D. Furber, CEO; Steven D. Corkin, Managing Director, Marketing and Client Service; Pamela J. Herbst, Managing Director, AEW Direct Investments
24. Lincoln Property Co.
Total Office Portfolio: 14.6 million sq. ft.500 N. Akard, Ste. 3300Dallas, Texas 75201Phone: (214) 740-3300Web site: Mack Pogue, Chairman; Tim Byrne, President/CEO, Residential Divison; Bill Duvall, President/CEO, Commercial Division
25. Forest City Enterprises
Total Office Portfolio: 13.4 million sq. ft.Terminal Tower, 50 Public Square, Ste. 1100Cleveland, Ohio 44113Phone: (216) 621-6060Web site: Samuel H. Miller, Co-Chairman; Albert B. Ratner, Co-Chairman; Charles A. Ratner, President/CEO

For more information see: or

Friday, March 13, 2009

Rolls - Royce helps Island!

Retreat, hell! Growth firms still see growth
US Airways awards contract to Rolls-Royce
Goodrich, Rolls-Royce forming joint venture

Rolls-Royce plc plans to open a marine service center in Galveston to support the company’s portfolio of marine products.
United Kingdom-based Rolls-Royce bases its marine services network out of Singapore.
Encompassing 40,000 square feet, the Rolls-Royce Commercial Marine service center will provide repair and overhaul expertise for customers throughout the Gulf of Mexico region.
Rolls-Royce invested in the location at the Port of Galveston to respond to a growing customer base and demand in the region, according to the company
The site is expected to be operational in April and, once completed, Rolls-Royce plans to increase its personnel in the Gulf of Mexico region. From HBJ article, for more info call or see or

Thursday, March 12, 2009


Geodis Wilson Projects USA Inc. has leased 61,780 square feet of space in Port One North from Duke Realty Corp. The company will occupy 39 percent of the 158,940-square-foot warehouse/distribution building, which is located at 8210 Humble-Westfield Rd. in Houston. The cross-docked facility features 28-foot clear ceiling heights, 42 dock doors and two drive-in doors. For more information see . or

Tuesday, March 10, 2009

Site Selection rate Houston number 1#

Houston’s domination in the energy sector and its ability to land huge technology deals drove the city to the No. 1 spot for the first time on Site Selection magazine’s list of Top Metro rankings for corporate location and expansion activity.
The ranking is part of the magazine’s 30th anniversary “Governor’s Cup” issue.
Site Selection said Houston clinched the top spot after scoring 179 corporate real estate deals in 2008, unseating three-year incumbent Chicago-Naperville-Joliet.
Dallas-Fort Worth-Arlington finished No. 2 with 156 projects, and Chicago came in third with 138.
Last year, Houston was No. 4 behind Cincinnati and St. Louis for cities with more than 1 million in population.
“Site Selection ’s award adds to the long and growing list of distinctions the Houston area is earning for our business recruitment, business retention, job creation and economic growth efforts,” Jeff Moseley, president and chief executive officer of the Greater Houston Partnership, said in a statement. “We will continue to show that the Houston region is the most attractive place to locate or expand your business in the United States.” For more inforamtion see:

Monday, March 9, 2009

Texas ranks high on corporate facilities list

Texas has placed second on a list of U.S. states with the most new and expanded corporate facilities.
Ohio topped the 2008 Site Selection Governor’s Cup list for the third year in a row and the fourth time in the past six years. Ohio had 503 projects, compared to Texas’ 497. Michigan was a distant third with 296 projects.
The data is tracked by Conway Data Inc.’s New Plant database and published in the official publication of the Industrial Asset Management Council. It does not include retail and government projects, or schools and hospitals.
To qualify, new facilities or expansions must involve a capital investment of at least $1 million, or create at least 50 new jobs or add at least 20,000 square feet of new floor area.
Though Texas placed second, the state’s Tier 1 metropolitan areas (with populations over 1 million) dominated the list. The Houston-Baytown-Sugar Land area ranked first with 179 new and expanded facilities, and the Dallas-Fort Worth-Arlington Metroplex was second with 156.Houston Business Journal - by Ford Gunter Reporter

For more information see; www.houstonrealtyadvisors,com or

Thursday, March 5, 2009

Global Property CEO Florida Conference notes

Call it the sound of collective mourning. Throughout more than 60 roundtable discussions between analysts and real estate investment trust executives gathered this week at Citigroup’s three-day Global Property CEO Conference in Naples, FL, REIT management teams representing all U.S. asset types returned again and again to a now-familiar list of themes and concerns. Stalled transaction activity is inhibiting the market's ability to establish reliable property values, and vice versa. Occupancies, absorption, rents and other property fundamentals are weakening in tandem with the declining job market and shaky consumer confidence. REITs seek to preserve capital by cutting dividends, writing down investments, trimming costs and canceling development projects. And perhaps most urgently, highly leveraged firms are still trying, with limited success, to navigate the frozen flows of capital markets, refinance or retire debt -- and at the same time, try to predict when to make a well-timed re-entry into the acquisitions arena. Citigroup research analyst Michael Bilerman conjectured that the industry may have entered the last of the "five stages of grief" -- acceptance -- after the REIT sector's initial reactions of denial, anger, bargaining and then depression following the financial crisis that first gripped the industry last fall. "I think we’ve now gotten to the acceptance phase," he said. "There are more people who accept where things are now. Companies are focusing on what needs to get done, on their core business and balance sheet ... there's a little more hope than utter and complete chaos." Even so, it was challenging to detect hope among the veteran CEOs in attendance. Interest rate spreads are still way too high for the economy to recover quickly and property prices are at a 10-year low, stated Steven Roth, CEO of Vornado Realty Trust (NYSE: VNO), owner of a diverse mix of New York City office buildings and retail properties in the Northeast. "We’re in a period where asset values are deflated, and that has driven out all normal-course lending because nobody wants to make a loan; nobody knows the value of the collateral of what they’re lending against," he said. "We say frequently, one of the things that makes a bottom is stupid, stupid, stupid low [implied] asset values, and we’re getting to at least the first or second ‘stupid.’" Still, Roth predicts the "greatest opportunity in our lifetime to buy things extraordinarily cheap" will soon be within sight. "If people have the liquidity and the smarts and intelligence to navigate, I think there are going to be some incredible buys whether in the public or private markets. There’s going to be more good quality assets available than we all combined have the capital for. There’s going to be three or four years of investing -- there’s that much product available. There’s more product than there is capital now, and that will continue for years." For more information see: or or

Monday, March 2, 2009

New Food for Sugar Land Town Sq.

THREE RESTAURANTS OPENING AT SUGAR LAND TOWN SQUARESUGAR LAND, TEXAS — Three restaurants are opening new locations within Sugar Land Town Square, a 32-acre master-planned community located at the intersection of U.S. Highway 59 and Highway 6 in Sugar Land. Escalante’s has opened its fifth Mexican restaurant in the Houston area at 15933 City Walk. It is joined by frozen yogurt and smoothie shop Swirll, which is opening its fourth Houston location next door at 15955 City Walk. Finally, July will mark the opening of Japanese hibachi restaurant Taisho, which will open its sixth Houston-area location on the first floor of the recently completed Minute Maid corporate headquarters building.Phases I and II of Sugar Land Town Square are already complete. They include a 300-room, full-service Marriott hotel and conference center, the new 82,000-square-foot Sugar Land City Hall, 167 mid-rise residential condominiums, 208,000- square feet of office space, 182,000 square feet of Main Street-style retail and restaurant space, and a 1.4-acre pedestrian plaza. Upcoming phases of the project include an additional 357,000 square feet of Class A office space and 56,000 square feet of retail, both of which are scheduled for completion in 2010. For more information see: or