Category: Focus 2020

The J. Beard Real Estate Company Facilitates Sale of 10,000-SF Office Building in Tomball, TX

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Neal King of The J. Beard Real Estate Company has represented Lone Oak Holdings, LLC, in the sale of a 10,000-square-foot office building situated on 9.5 acres of land in Tomball, Texas at 1600 East Hufsmith, adjacent to the new Broussard Community Park near F.M. 2978. The property includes a 2,500-square-foot warehouse and recreational area that has a baseball field, volleyball court, shaded pavilion and outdoor restrooms. Joseph Pantoja of Realm Real Estate Properties represented the undisclosed buyer, who will use the property for business operations.

Stream Houston Closes Massive Lease Transactions at New Industrial Park

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Stream Realty Partners’ Houston office has closed four lease transactions totaling over 212,800 square feet at Waypoint Business Park in the third and fourth quarters of 2020. The Stream industrial team of Matteson Hamilton, Justin Robinson and Woody Hillyer represented ownership, a joint venture of 4M Investments and Clarion Partners, LLC, in the transactions. “We’re thrilled about the tremendous interest in the property and are excited to welcome the newest additions to Waypoint.” said Tripp Rice, partner at 4M Investments. “With the site’s unparalleled location in the heart of Houston’s Southwest Industrial market, combined with the unprecedented high demand it is experiencing, we are confident this momentum will continue into 2021.” The recent tenant signings included Advanced Wheel Sales’ 65,520-square-foot lease in Building 2; Edvivi Lighting’s 52,210-square-foot lease in Building 3; Rasa Floors’ 25,169-square-foot lease in Building 4 and Texas Plumbing Supply’s 69,865-square-foot lease in Building 2. Delivered in the first quarter of 2020, the project consists of four buildings totaling over 700,000 square feet with the potential for a second phase of construction in the near future. “There’s no denying that demand remains strong in the Southwest Houston Industrial market, and we expect this to continue as we enter 2021,” said Hamilton, a partner and senior managing director in Stream’s Houston office. “From our perspective, Southwest Houston has been one of the most active submarkets this year. We are confident that despite new supply that has recently delivered in the submarket, Waypoint will continue to out-perform and increase occupancy in the near future.” The park encompasses 60 acres in southwest Houston’s Missouri City, with excellent ingress/egress to Beltway 8 and Highway 90, and S Gessner Road via Cravens Road. In recent years, this area of Houston has become known as a primary distribution hub for logistics and last-mile companies due to its immediate access to major highways and distribution centers. 496,000 square feet remains available for lease at Waypoint Business Park.

Former Williamson-Dickie Manufacturing HQ Listed For Lease

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Transwestern Real Estate Services is the exclusive leasing agent for 319 Lipscomb Street, a 21,548-square-foot, two-story office building in Fort Worth. Rebranded as The Schoolhouse on Lipscomb, the site is the oldest standing school building in Tarrant County and was named to the U.S. National Register of Historic Places in 1983. Originally built in 1892 in the Richardsonian Romanesque style, the building served as the Stephen F. Austin Elementary School until 1977. Famed golfer Ben Hogan and actress Ginger Rogers both attended the school. After purchasing the building in 1980, Williamson-Dickie Manufacturing Co. renovated the space to use as its corporate headquarters until 2020, when the company moved to its current headquarters at 509 W. Vickery Boulevard. Transwestern principal Whit Kelly and associate Dallas Margeson represent the property owner. “This history-rich building offers a one-of-a-kind chance to lease a beautifully designed space in a submarket that has seen incredible growth in recent years,” said Kelly. “Opportunities for single or multi-tenant use are extraordinary, and the design of the schoolhouse only supplements the tenant experience within the unique space.” The campus features multiple expansive executive offices with private restrooms, conference rooms, a catering kitchen, walkable outdoor green space with room for amenities, original chalkboards in most offices and ample parking. Large arches framing the recessed entries are complemented by hardwood floors throughout the space, antique glass, original doors and wainscoting. “The Schoolhouse on Lipscomb served the needs of our employees for decades,” said Philip Williamson, former CEO of Williamson-Dickie, and a long-time Fort Worth native. “It is truly unique, has a fantastic feel and offers a glimpse into the past, while meeting all the needs tenants might require in today’s world. We are excited for the possibility of a new tenant enjoying the space, just as we did.”

Development Depth: EDCs Protect Business, Encourage Growth During Pandemic

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Success in the commercial real estate world has always been about the ability to evolve. Investors are constantly looking for what’s “next,” while developers keep an eye on what the market is asking for. Retailers need to know the trends that their customers will want. And economic development organizations must be able to pivot when their community indicates a change is needed. In so many ways, the COVID-19 pandemic has tested the evolutional capacity of EDCs throughout Texas and a number of them are passing with flying colors, helping the investors, developers and companies that call their towns home weather an incredibly challenging time. At the Greater Houston Partnership (GHP), the team shifted to a strategy of remote working, online meetings and virtual events in March, according to Craig Rhodes, senior director of regional economic development. “The traditional trade shows, conferences and outbound recruitment missions have been replaced with virtual industry roadshows, site consultant outreach and targeted business outreach activities,” he said. An example of that: GHP hosted a virtual business recruitment mission with Houston Mayor Sylvester Turner in October 2020 to connect with companies in Silicon Valley. The event followed up a successful delegation trip in 2019 meeting with California tech companies about the opportunities for growth in Houston. Click to read more at www.rednews.com.

RedSwan CRE Opens First $300 Million Tranche of Commercial Real Estate to Investors

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HOUSTON, Dec. 15, 2020 /PRNewswire/ — RedSwan CRE, the leading commercial real estate (CRE) tokenization platform, today announced their first tranche of Class A & B properties, $300M of a total of $2.5B (USD), are now being offered to major investors. Investments can be made through the company’s platform powered by advanced blockchain technology, allowing for a more secure investment in CRE. This is the first public offering of security token offerings (STOs) at this scale. “No other blockchain-based CRE company has created this much product of high-quality properties to the blockchain as digital securities,” said RedSwan CRE chief executive officer, Ed Nwokedi. “Adoption happens faster when the options for CRE investments are larger. By adding 25-50 properties in various locations and yields, the opportunities for investors to participate significantly increases.” Historically, smaller investors weren’t permitted or invited to participate in major $20M+ projects because the price of entry was too high, making it a challenge to access higher-quality investments. By Investing with RedSwan CRE’s platform, customers can invest alongside major institutional companies with similar or exact search terms. With the first tranche now available, investors will have freedom of liquidity. By using blockchain, the crowdfunding impact will allow investors to reduce the initial investment cost, allowing them to diversify their capital into multiple projects instead of one, without the historical requirement of holding them for 3-10 years before exiting. Based on SEC regulations of Reg D investors, only accredited investors can participate in RedSwan CRE’s STOs. Click to read more at www.prnewswire.com.

How The Pandemic Changed What We Wear to Work—Not Just Where We Work

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“Well, where are you going?” I asked my husband a couple of weeks ago as he rounded the corner in a suit. My visceral reaction got me thinking about how the pandemic has changed how we think about what we wear to work—not just where we work. As a designer, I understand the importance of aligning an organization’s culture, values, and policies with the aesthetic of the space. Lawyers, developers, and bankers in their formal business attire look appropriate in their wood and stone workplaces. Tech firms with concrete flooring and coffee bars are a better fit for the t-shirts and sneakers vibe. It makes sense. But now, whether you have been going to your office or not, I can safely say—we aren’t dressing the same. We aren’t dressing up. In a predominately virtual world, we are dressing for ourselves. We talk about the pandemic being an accelerator of remote work and collaborative technology. It may also accelerate heels and ties right out of our work attire forever. The evolution of the suit and business attire, like all fashion, has followed a trend pattern that mirrors major economic and cultural shifts in our country—a reflection of our values, lifestyles, and sentiment. For example, in the 1920s, embellishment dominated preferences as tie pins gained popularity and shirts became more colorful. Click to read more at www.dmagazine.com.