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Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently leased the retail space located at the Hillcroft Avenue and Beechnut Street intersection in Houston, Texas. Friedman’s Larson Riff advised the landlord in the transaction. Larson is a native Houstonian with a passion for real estate. His focus is on landlord/tenant representation, land acquisition, and investment sales.
Friedman Real Estate recently sold a 530,000-square-foot shopping mall located in Sherman, Texas. The property is slated to be redeveloped and repurposed for mixed-use. Friedman’s Steven Silverman advised the purchaser in the transaction.
Steven Silverman has transacted on more than $500 million worth of commercial real estate, spanning more than 20 million square feet nationwide. Steven specializes in the acquisition and disposition of investment-grade real estate assets and is also a well-recognized expert in stabilized, value-add and distressed property auction sales.
Houston, March 31, 2022 – Colliers is pleased to announce the sale of ±4.8 acres (Lot 3) in Tomball Business and Technology Park located on South Persimmon Street in Tomball, Texas. The buyer, Ralco Houston, Ltd., was represented by Randy Nerren of NewQuest Properties. Tom Condon, Jr., Principal of Colliers in The Woodlands, represented the seller, Tomball Economic Development Corporation (TEDC), in the transaction. Jane Mathews with Stewart Title in Tomball coordinated the closing.
Ralco Houston purchased Lot 3 with plans to build a 45,500 square foot distribution center for the Billiard Factory in Phase I, with the ability to expand an additional 20,250 square feet in Phase II.
Tomball Business and Technology Park is a ±100 acre master planned and deed-restricted business park situated just east of the Tomball Tollway along Holderrieth Road and Hufsmith Kohrville Road. The industrial park features light industrial zoning, fully served with all utilities, and easy access to SH 249, FM 2920 and the Grand Parkway.
The property is located in Houston’s North Freeway/Tomball Parkway industrial submarket. The submarket contains 38.7 million square feet of industrial space, which is currently 94.6 percent occupied. The average asking market rental rate is $8.69 per square foot and there is 466,000 square feet of industrial space currently under construction in the submarket.
Houston, March 29, 2022 – Kimco awards Colliers the leasing assignment for three Baybrook area properties: Baybrook Gateway, Center at Baybrook, and their new development, Shops at Baybrook. The properties are adjacent to each other on the Gulf Freeway at the southeast corner of Bay Area Boulevard and have suites available from 2,400 square feet to 39,998 square feet as well as a 1-acre pad site.
Heading up the assignment from Colliers for Baybrook Gateway and Center at Baybrook is Kimberly Lenardson and Cody Persyn. While the Shops at Baybrook will be headed by Hannah Tosch and Wade Greene.
Future Shops at Baybrook
New tenants for the properties will join retailers such as Party City, World Market, Michaels, Barne’s & Noble, buy buy Baby, Bed Bath & Beyond, Bel Furniture, Hobby Lobby, James Avery, and Jared. Escalante’s, La Madeline, Pappas Delta Blues Smokehouse, Pappas Seafood House, and BB’s are some of the restaurants.
“We are very excited for our new relationship with Kimco and these three Baybrook area properties,” said Kimberly Lenardson, Vice President of Colliers, “The existing retail and restaurant tenants in this market are performing very well for the most part, which is contributing to the area’s occupancy remaining tight.”
The properties are located in Houston’s NASA/Clear Lake retail submarket. The submarket consists of 28.8 million square feet of retail space, which is 94.7% occupied. In addition, there is 140,000 square feet of additional space under construction in the submarket.
About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
The Traveling Spirit, LLC leased 2,000 square feet at 5151 Mitchelldale in Houston, TX. Justin Harrity represented the landlord, Hartman Income REIT.
Freedom Solar Markets Entrance into the Senior Living Industry with a Large Installation at WestminsterPromising Significant Long-Term Savings and a Kinder Environmental Impact
AUSTIN, TEXAS—March 28, 2022. Austin-based Freedom Solar, one of the leading turnkey solar energy installers in Texas and nationwide with operations in nine states, today announced its partnership with Westminster senior living community in Austin to install the first senior living solar energy array in the state of Texas.
“We at Freedom Solar are honored to partner with Westminster on this project, which we believe is the first solar installation at a major senior living community in Texas,” said Freedom Solar CEO Bret Biggart. “The people at Westminster are very forward-thinking in terms of sustainability and reducing their carbon footprint. This is the perfect project to mark Freedom’s entrance into the senior living market, which is increasingly turning toward solar nationwide.”
“Westminster is proud to continue our tradition of leadership in the senior living industry by leading the transition to solar,” said Westminster Executive Director Charles “Chuck” Borst. “We will celebrate our55thanniversary in April 2022and have envisioned making this change for several years. Realizing that vision is a great way to add excitement to this milestone year.”
Borst said Westminster chose Freedom Solar as its solar energy partner because it presented the opportunity to work with a local company that is highly regarded in the commercial solar sector. Westminster’s management was heavily motivated by the long-term financial savings solar brings, in addition to adding an exciting, renewable energy technology to the community. When Westminster factored in the $500,000 Austin Energy direct rebate, covering about 51% of the installation cost, leadership decided the time was right to go solar.
“The Westminster community has pursued the Austin Energy Green Building ratings showcasing energy, efficiency, water conservation, indoor environmental quality and efficient material use; and this renewable energy project ties into those efforts,” said Greg Hunteman, AIA, president of Pi Architects, the architecture firm for Westminster.”Increasingly, energy efficiency is a key part of design for senior communities that promote safe, healthy, and comfortable living spaces. We are pleased to work with Westminster on creating beautiful, comfortable, and environmentally-friendly spaces seniors love.”
Located at 4100 Jackson Avenue in the heart of Central Austin, Westminster is an award-winning continuum-of-care retirement community offering an expansive residential lifestyle with an array of Freedom Solar Partners with Westminster Austin to Install the First Solar Energy Array at a Texas Senior Living CommunityPage 2of 3activities, upscale amenities and social opportunities for active neighbors with shared interests. Built in 1967, it is one of Austin’s first and most established retirement communities. Over the years, Westminster has undergone several expansions. With flat rooftops and full sun, the solar installations will blend in seamlessly with the design of the community.
The Westminster installation will be accomplished in two phases. In Phase 1, Freedom Solar will install solar panels capable of producing 56.1 kilowatts (kW) of solar energy on the roof of the existing Preston Building and panels with a 252.78 kW capacity on the existing Windsor Building. Construction will likely start during the second quarter of 2022. Phase 2 of the project is set to begin in late 2022 and will include the installation of 160.4kW-capacity solar panels on the Carlisle Building, currently under construction.
Once the project is complete, Westminster will realize up to $50,000 in annual savings, and reduced impacts of rising energy costs, carrying on its five-and-a-half-decade legacy as a progressive community leader.
As solar energy becomes more affordable and accessible, senior living communities across the country are actively moving toward reducing their carbon footprint, both in infrastructure and practice. Solar energy provides more reliable energy for their residents, while also increasing owners’ and operators’ net operating income. It is a powerful marketing tool, as seniors are welcoming solar’s introduction. Some studies have even pointed to the introduction of green initiatives providing seniors with greater fulfillment, a higher sense of purpose, and improved mental health.
Since 2020, the federal solar investment tax credit (ITC) has been a big factor in the decisions of many of Freedom’s customers to go solar. As part of a broad initiative to make renewable energy like solar an attractive alternative to traditional electric power, Congress has extended the 26% solar tax credit through 2022; in 2023, it will drop to 22%.
“This is Freedom Solar’s first project in its new Senior Living Division,” said Biggart. “It is our goal to revolutionize the senior living industry with solar energy installations in the same way we are already revolutionizing the automotive industry. We are excited and honored that Westminster is our first partner in this endeavor.”
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About Freedom SolarFounded in 2007, Freedom Solar is an industry leader in turnkey solar installations, providing high-quality, cost-effective, reliable solar solutions for residential and commercial markets nationwide. Headquartered in Austin, Texas, Freedom Solar also has operations in Colorado, Florida, Idaho, Kentucky, Ohio, Michigan, Missouri and West Virginia. Tesla Powerwall Certified Installer and the only SunPower® Master Dealer inTexas, Colorado and Florida. The firm has installed more than 128.8megawatts of solar panels since 2007, ranking as the eleventh-largest solar installer in the U.S and the third largest in Texas. Freedom Solar has completed projects for numerous national and multinational corporate clients, including Whole Foods Market, Shake Shack, Office Depot, Holiday Inn Express, Home2 Suites by Hilton, The University of Texas at Austin and numerous automotive dealerships, such as Alfa Romeo, BMW, Chevrolet, Ford, Maserati, Subaru and Toyota. For more information, visit https://www.freedomsolarpower.com or follow @freedomsolarpwr on Twitter and @freedom_solar_power on Instagram.