Texas Man Sentenced for Hotel Investment Fraud Scheme

An Austin, Texas man was sentenced to 70 months in prison and ordered to pay $5,052,366.92 in restitution for his role in a fraud scheme.

According to court documents, from 2012 until June 2018, Jason Michael Schubert, 47, devised a scheme to bilk hotel investors out of millions of dollars. Schubert identified potential investors by conducting seminars on how to make money from investing in hotel properties, known as “Rich in Five” seminars, charging the participants substantial fees to attend. Schubert then solicited money from the participants for investing in preexisting hotel properties that he would manage and operate while claiming that investors would profit with little effort on their part.

However, many of the hotels were older and in substantial disrepair. Although Schubert had no hotel management experience, he represented that investor funds would be used to renovate the hotels. Instead, he misappropriated the money by paying himself significant “management fees.” Schubert’s fraudulent activities depleted investor funds, causing the hotel properties to go into foreclosure with a loss of over $5 million to investors. Click to read more at www.insurancejournal.com.

The COVID Game-changer: Healthy Offices Now a Must-have, not a Nice-to-have, for Building Owners, Employers

How healthy are offices across the United States? And are employees more likely to return to the office – at least on a part-time basis – if their employers take the steps necessary to boost indoor air quality, improve natural light and surround their work areas with green spaces?

These are questions tackled by Joanna Frank, founding president and chief executive of the Center for Active Design in New York City. The center is the operator of Fitwel, a certification system originally developed by the U.S. Center for Disease Control and Prevention that measures how healthy offices are.

The health of indoor working spaces is a hot topic today, thanks in part to the COVID-19 pandemic and the desire of employers to bring their workers back to the office after so many have worked remotely for more than two years.

Consider these facts from the Center for Active Design:

Indoor air pollutants are generally two to five times greater than outdoor levels of air pollution.

Poor light quality and uninspiring views in offices cause employees to miss more time from work with illnesses.

Employees greatly benefit from natural, green surroundings, which are often a small investment for companies and building owners to make.
Frank said that employers and building owners should invest in ways to improve the health of indoor office spaces, especially if they want to bring their workers back to their conference rooms, cubicles and desks.

To do this, though, owners and employers need to understand what makes a building or office space healthy. Frank said that there are three keys.

No one-size-fits-all solution

First, building owners must address of the needs of the occupants of a building.

“This lets you know that this is not a one-size-fits-all solution,” Frank said. “You have to respond to the needs of the users of a space.”

Secondly, it’s important for employers and owners to enact strategies that have already been proven to produce cleaner air, happier employees and a more productive workplace. Employers should search out the evidence to prove that the investments in healthy spaces they are making will provide results.

And maybe most importantly, employers and building owners must measure the impact of their healthy workspace initiatives. They must also share these results with their tenants and employees.

This means that building owners must be able to show their tenants that healthy initiatives are helping them attract and retain employees and that these workers are more productive now that healthy initiatives are in place. And employers must show their workers that their indoor air quality ratings are high, more outdoor light is bathing their offices’ interiors and that employees are calling in sick less often.

The key here? Companies are not likely to pay more to lease office space just because it is healthier. And building owners are not likely to invest in green space, air-purification spaces and indoor gathering spaces just to be nice. Owners and tenants need to see that these healthier additions will pay off, whether this means giving owners additional tools to attract more tenants and charge higher rents or giving tenants the amenities they need to convince employees to return to the office or attract and retain the best talent.

“The more research-based strategies you have promoting health, the higher the degree of tenant satisfaction,” Frank said. “The more things you do to promote health, the more likely you are to retain workers. You must be able to demonstrate those business outcomes if you are a building owner. Real estate needs that proof. Real estate demands that you can show that return on investment.”

Fortunately, Frank said, this isn’t difficult to prove. As she says, there has always been a direct correlation between the health of a business’ workers and their productivity.

What has changed since COVID, though, is demand: Workers are now demanding healthier office environments.

“People are now demanding that their companies be able to demonstrate how they are promoting and protecting their health,” Frank said. “Before COVID, we weren’t seeing individuals asking for a healthier work environment. That has now changed. That is a game-changer. We knew how to create healthy office spaces before COVID. We had a massive body of evidence showing how to do this. The difference now is that the workers are demanding this, which is persuading companies to explore their options.”

And employees want proof that companies are taking steps to promote their health, Frank said. It’s no longer enough for companies to say that they are taking steps to boost indoor air quality, for instance. Today, they must show their workers actual statistics and test results proving that their claims are true.

“It has changed from health being a nice-to-have before COVID to being a must-have today,” Frank said. “It used to be that building owners would think about healthy building measures after they took care of everything else. But now, owners can lose their Class-A tenants to other buildings that are demonstrating how they are promoting health and wellness.”

Creating the healthy workplace

What are some of the steps, then, that building owners can take to boost the health of their tenants?

Frank said that companies and their workers today are focused heavily on indoor air quality. It’s important, then, for building owners to improve the air-purification systems and air flow in their buildings. They need to bring more outside air into their workspaces.

This will boost not just the physical health, but also the mental health of building occupants, Frank said.

High-quality natural light is important, too, for the physical and mental health of occupants, Frank said. And offices need outdoor light to flood their spaces, not artificial. Frank said that studies have shown that natural light is directly related to employee productivity.

Another key is that building occupants have access to nature and green spaces. This could be a small rooftop garden or even the addition of indoor plants.

“You can do this in any building,” Frank said. “It doesn’t have to be new construction. You can bring nature into a space very effectively by using green walls, plantings, whatever you have. Bringing nature into the office is very important for employees’ mental health and feelings of well-being.”

What also matters is building trust, Frank said. This means that building owners and employers must show workers real numbers showing how effective their healthy measures are. And they must share these numbers even if they show that a particular measure isn’t having as much of an impact as they had hoped.

And if the numbers show bad news? Employers and building owners must share their plans for replacing or improving whatever measures aren’t working, Frank said.

Consider indoor air quality. Building owners and employers can’t just say that they are using a certain level of filtration. They must explain why they are using it, Frank said, and what their air-quality goals are.

“People have become very educated about indoor air quality,” Frank said. “You need to provide details. You need to tell tenants about how much outdoor air you are bringing into the building. You need to be measuring indoor air quality in a consistent way. And what will you do if you are not achieving the results you want? That is a tough one for building owners. There is risk involved. You need to have policies in place explaining how you will respond if your system provides less-than-optimal air quality.”

How healthy are offices across the United States? And are employees more likely to return to the office – at least on a part-time basis – if their employers take the steps necessary to boost indoor air quality, improve natural light and surround their work areas with green spaces?

These are questions tackled by Joanna Frank, founding president and chief executive of the Center for Active Design in New York City. The center is the operator of Fitwel, a certification system originally developed by the U.S. Center for Disease Control and Prevention that measures how healthy offices are.

The health of indoor working spaces is a hot topic today, thanks in part to the COVID-19 pandemic and the desire of employers to bring their workers back to the office after so many have worked remotely for more than two years.

Indoor air pollutants are generally two to five times greater than outdoor levels of air pollution.

Poor light quality and uninspiring views in offices cause employees to miss more time from work with illnesses. Click to read more at www.rednews.com.

MetroNational Unveils Plans for Memorial Town Square

MetroNational revealed plans for Memorial Town Square, a 27-acre, urban infill development comprised of a collection of unique boutiques and iconic brands, locally curated culinary collections and elevated health and wellness services. Located at Barryknoll Lane and Gessner Road, the next-level destination, is part of the holistic development strategy and overall vibrant transformation to take place across Memorial City’s 300 acres including the creation of new multi-family residential units, an office tower, creative office and co-working spaces, and the reimagining of the 1.7 million-square-foot Memorial City Mall. As part of the redevelopment of the 27 acres, the 190,000 square-feet of retail in Memorial Town Square will deliver first with construction to begin in 2023 and completion slated for 2025.

Elevating the Experience
Inspired by the aspirations of the community, Memorial Town Square is envisioned to be intimate, charming and timeless as well as improve the way people come together. With bespoke walkable streetscapes, lush landscape and a pristine town square, Memorial Town Square will reinvent the communal experience and reflect the unique heritage and spirit of Houston — a place where modern Texas-style, easy elegance and casual luxury combine into something that truly feels like part of the fabric of the 77024 neighborhood.

Collective Vision
MetroNational has assembled a world-class design and retail leasing team to include:

Gensler, design architect; Office of James Burnett (OJB), landscape architect; RSM Design, environmental graphics and wayfinding; RUE, leasing consultant and Pacific Retail Capital Partners, development consultant.

MetroNational and Gensler spent several years collaborating with the community, to gather input on desired amenities and guide the master plan’s design. Most notably, the 77024 neighbors felt a paradigm shift in how they wanted to enjoy their lives.

Central to all design efforts was the desire to resonate and align with the footprint set by the Memorial community.

Highly Curated Shopping, Dining and Lifestyle Offerings
The retail landscape is being designed to feature the most coveted names in local and international food and lifestyle retail, with plans to include 40+ aspirational and emerging brands that are both iconic and new to the marketplace. Approximately 35% of the project will be food and beverage, from chef-driven restaurants to fast casual food experiences, all with al fresco dining. To enhance the consumer experience, resort-style hospitality and operational standards will include valet and convenient parking, electric car charging stations, private outing and corporate event planning, car washing and rentals including stroller and baggage, wheelchairs, umbrellas and cell phone chargers. Additionally, MetroNational will implement the latest technology to enhance mobility.

Centered around expansive green space, Memorial Town Square will offer a combination of intimate, sophisticated gathering spaces intentionally crafted for lively and low-key get-togethers. Guests and residents of Memorial’s affluent and expansive community will be able to enjoy thoughtful art, entertainment, and experiential events within a relaxed yet vibrant communal and cultural hub.

Hewlett Packard Enterprise Opens New Headquarters in City Place in Spring

Following just over two years of construction, officials with Hewlett Packard Enterprise announced the completion of its new campus in City Place via a news release April 4.

As previously reported by Community Impact Newspaper, construction first began on the new campus in February 2020. In December 2020, HPE officials announced the new campus would also become the company’s new headquarters, which was previously located in San Jose, California.

Located at 1701 E. Mossy Oaks Road, Spring, the new campus comprises two five-story buildings that are connected by bridges at each level. The campus includes 440,000 square feet of rentable space, structured parking for 2,055 cars and a slate of amenities, among which are a fitness center and cafe as well as a large central courtyard with a multiuse basketball pavilion.

“HPE’s Houston headquarters is the embodiment of our vision for the future of work, designed to enable our hybrid Edge-to-Office work model,” the release reads. “At HPE, 80% of our team members are now designated ‘Edge,’ working primarily remotely but encouraged to come into the office for collaboration. So rather than building a headquarters where teams will spend all their time working, we designated a collection of flexible, high-tech spaces to foster teamwork and social interaction—and accommodate team members’ changing needs.” Click to read more at www.communityimpact.com.

CBRE Pre-leases 169,011-Square-foot Speculative Industrial Development in East El Paso

CBRE has arranged the lease of a 169,011-square-foot speculative industrial building in far East El Paso to an undisclosed logistics company.

CBRE’s William Caparis and André Rocha represented the developer, Mississippi-based EastGroup Properties, in lease negotiations.

EastGroup Properties began construction on the speculative warehouse/distribution building—located at 12291 Gateway Boulevard West—in September 2021 with an estimated completion date of July 2022. The real estate investment trust currently owns a little over 1.2 million square feet of industrial space in El Paso.

Once complete, the building will be 255 feet deep with modern specifications including a clear height of 32 feet, 52- by 50-foot column spacing, and 42 dock-high doors. Additional specifications include skylights, three-phase power and an ESFR sprinkler system. The building will sit on 12.61 acres and include a 135-foot deep truck court with staging for 50 trailers, as well as parking for 163 cars.

The new warehouse is situated in El Paso’s East submarket, a premier industrial corridor with quick access to Interstate 10 and Texas State Highway Loop 375. At the end of the first quarter of 2022, the submarket accounted for nearly half of all industrial construction with approximately 2.1 million square feet in progress according to CBRE research. Of the 4.2 million square feet of industrial space under construction throughout the metro, 2.0 million square feet were speculative developments.

Stonelake Capital Partners Announces Ground Breaking on 48-Acre Industrial Development in Georgetown

Stonelake Capital Partners announced the ground breaking on a 48-acre industrial development located on I-35 just north of Austin in the City of Georgetown, Texas. Stonelake plans to build 620,000 square feet of Class-A warehouse/distribution space across three buildings on a speculative basis. The industrial park, which will be called “Georgetown Logistics Park”, is located at the southwest quadrant of the I-35 and SH 130 intersection at 1800 Aviation Drive, just east of Georgetown Municipal Airport. Stonelake expects to complete construction in March 2023.

Georgetown Logistics Park will feature best-in-class physical specifications and cater to the needs of a wide range of warehouse/distribution and manufacturing tenants serving the greater Central Texas region. Georgetown Logistics Park will include the following specifications and all three buildings will be completed in one phase.

a 426,240-square-foot cross dock building with 40-foot clear height and 82 trailer parking stalls

a 123,200-square-foot shallow bay rear loaded building with 36-foot clear height

a 70,300-square-foot rear loaded building with 32-foot clear height.
Stonelake is a top 10 owner of industrial buildings in Austin and Georgetown Logistics Park will bring Stonelake’s total industrial ownership in Austin to 1.52 million square feet across 28 industrial buildings.

Stonelake is an active buyer and developer of infill warehouse buildings in high barrier to entry submarkets across the United States with a particular focus on Texas and Sunbelt markets where job growth and population growth significantly outpace the national average.

In total, Stonelake owns 265 industrial buildings totaling 23 million square feet in Austin, Dallas, Houston, Atlanta, Phoenix, Nashville, Tampa, Orlando, San Antonio and El Paso.

Ace Schlameus, Kyle McCulloch and Greta Reid, with JLL, will be handling leasing on behalf of Stonelake.

Design services for the project were provided by Powers Brown Architects and Pape Dawson Engineers and the general contractor for the project is Zapalac Reed.