Category: Southeast Texas

Hard stop to full throttle: Houston’s land market generates career firsts in 2020

Posted on by Sarah

Rounding the corner into 2020, things were looking good for the Houston-area land market. “Retail was strong, multifamily was acquiring sites for new development, listings were moving and buyers were very active,” said Kristen McDade, who leads Berkadia’s land services team. As soon as the pandemic took hold, though, the market came to a grinding halt. “Everyone stomped on the brakes as nobody has ever been through a pandemic in the U.S. before,” said Kirk Laguarta, broker at Land Advisors. He said that one thing did accelerate: the home-buying process. Laguarta suggested the increase was due to low interest rates and many people wanting to get out of apartments into new homes. “Bottom feeders” also emerged in the spring, looking to capitalize on what they viewed as a wounded market.
“In April, I had a group make a $25,000 offer on a site listed around $3 million,” McDade said. “When we all finished laughing, they made another similar offer on another tract. I finally told the guy, ‘Even in the worst of times, this is ridiculous.’” She said a couple of her deals dropped, but most buyers paused to evaluate whether to close deals they had under contract. McDade said the majority worked out extensions that allowed them to get a better handle on the market moving forward. Click to read more at www.rednews.com.

MLB Capital Partners Launches Full-Service Commercial Real Estate Firm

Posted on by Sarah

MLB CRE to provide comprehensive third-party leasing and sales solutions

(HOUSTON, TX) – Houston-based commercial real estate investment company MLB Capital Partners today announced the launch of its full-service, commercial real estate brokerage firm, MLB Commercial Real Estate (MLB CRE). After an eight-year stint at Avison Young, Todd Mason, Jeff Lindenberger and their team of dedicated real estate professionals amicably parted ways with the Toronto-based company to embark on this new venture. “The transition has been seamless as our team has been together for many years,” said Todd Mason, Principal, MLB CRE. “At MLB CRE, we are uniquely positioned to deliver customized, value-add solutions for diversified assets. From land to retail, industrial, hospitality and beyond, we look forward to providing comprehensive services for both new and existing clients.” With a combined 55 years of experience and more than $3B in transactions, Mason and Lindenberger have a track record for success in executing acquisitions, dispositions, sale leasebacks, and enterprise solutions for institutional and corporate clients. Over the years, the duo has assembled a talented team of brokers and industry professionals, including Richard Mason, Taylor Wilson, Faith Pate, Andrea Gardner, and Melissa Helm, who will join in leading MLB CRE. As an independent, full-service commercial real estate firm, MLB CRE is expertly equipped to offer third-party leasing and sales solutions in the areas of industrial tenant representation, industrial landlord representation, retail services, investment sales, and self-storage sales, among other services. The team’s proven success has led to corporate representation for notable clients such as Victory Packaging, Best Buy, and CenterPoint Energy, among others. MLB CRE handles the leasing for 130,000 square-feet of retail space at the Houston Farmers Market and 280,000 square-feet of showroom and office space at the Houston Design Center. For more information, visit www.mlbcre.com.

ABOUT MLB CAPITAL PARTNERS
Since 2010, MLB Capital Partners has dedicated itself to sourcing investments with consistent returns. Principals Todd Mason, Jeff Lindenberger and Fred Baca leverage their more than 80 years of real estate experience to discover and add value to commercial properties, delivering consistent, long-term results through diligent investments that are responsibly developed and managed to their full potential. Most notably, MLB Capital Partners purchased the Houston Farmers Market in 2017, a 77-year-old farmers market and cultural landmark in the Houston Heights, which the group is reinvigorating into an experiential retail destination.

#