RESOLUT RE Completes Six Sale and Lease Deals Around Texas

RESOLUT RE recently completed six retail transactions throughout Texas. The deals included sales and leases in the Austin, Dallas and Houston markets. The Healthy Addiction has leased 747 square feet at The Marketplace (500 Lake Air Drive, Waco, Texas). Michael Noteboom and Jacob Nagy of RESOLUT RE represented the landlord. Hutto Liquor has leased 1,200 square feet at Hutto Plaza (FM 685 & Uvalde Drive, Hutto, Texas). Andrew Perkel and Michael Noteboom of RESOLUT RE represented the landlord. Jacob Nagy of RESOLUT RE represented the tenant. A smoke shop and check cashing store has leased 1,240 square feet at The Exchange (10205 N Lamar Boulevard, Austin). Joey Mendez and Samuel Hartley of RESOLUT RE represented the landlord. Steve Orsborn of Berkshire Hathaway HomeServices Texas Realty represented the tenant. Sugar Cookie has leased 1,857 square feet at Trinity Loft (1430 Dragon Street, Dallas). Mai Nguyen of RESOLUT RE represented the tenant. The Lash Bar has leased 1,838 square feet at Basswood Village (900 N Blue Mound Road, Saginaw, Texas). Jeff Lewin and Sam Littlejohn of RESOLUT RE represented the landlord. Salvador Manahan of Texas Connect Realty represented the tenant. An undisclosed buyer has purchased 3.88 acres at the intersection of Massey Tompkins Road and N Main Street in Baytown, Texas. Mohamed Gamal of RESOLUT RE represented the seller Kareem Gamal, president of Gamal Enterprises Inc.

NewQuest Properties Facilitates Seven Retail Deals

NewQuest Properties closed seven retail lease transactions throughout Texas. Pet Supplies Plus has leased 7,500 square feet of retail space in Memorial at Kirkwood, located at the intersection of Memorial Drive and North Kirkwood Road in Houston, from RPI Management. Josh Friedlander and Bob Conwell of NewQuest Properties represented the landlord. Lunden McGill of Baker Katz represented the tenant. J L’Art Salon and Beauty Service has leased 3,000 square feet of retail space in Shoppes at Grand Crossing, located at the intersection of Interstate 10 and Grand Parkway/TX 99, Katy, Texas from POG Kosmos 1099 LP. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Joanna Tran of Realty Alliance represented the tenant. Gloss Nail Lounge has leased 2,926 square feet of retail space in Grand Crossing Plaza, 23641 Katy Freeway, Katy, from Caswell Development LLC. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. John Pham of Realm Properties LLC represented the tenant. Relax Station has leased 1,400 square feet of retail space in Saratoga Town Center, located at the intersection of Saratoga Boulevard and Staples Road, Corpus Christi, Texas from NewQuest Properties. Bob Conwell and David Meyers of NewQuest Properties represented the landlord in the direct deal. Jersey Mike’s Subs has leased 1,297 square feet of retail space in Shops at Spring Town Center, located at the intersection of FM 2920 and Kuykendahl Road, Spring, Texas from NewQuest Properties. Andrew Alvis and Kevin Sims of NewQuest Properties represented the landlord. Lane Zieben of the Retail Connection represented the tenant. Precision PHS LLC has leased 788 square feet of retail space at 1455 FM 646 W., Dickinson, Texas from Vansomar LLC. Kevin Sims and Nick Ramsey of NewQuest Properties represented the landlord in the direct deal.

Cano Health Signs 14,938 SF Lease in San Antonio Texas

SAN ANTONIO, TEXAS — 14,938 SF Lease. Cano Health signs 14,938 square foot lease at Buena Vista Plaza in San Antonio Texas. Cano Health operates healthcare centers specializing in Senior Care and Primary Care for all ages. In addition to primary medical care, Cano Health has specialty programs in the fields of Venous Medicine, Arthritis, Allergy, and Weight Loss. Shawn Ackerman with Henry S. Miller – Houston office handled lease negotiations on behalf of the Landlord. Aamil Safani with Cushman & Wakefield represented the Tenant.

Hartman to Pay Employees $8 Million in Profit-Sharing

This month, Hartman Short Term Income Properties XX (Hartman), a Texas based real estate investment trust, announced a profit-sharing award of $8 million dollars to be distributed to employees. Attached you will find a press release detailing the awards and reactions of both employees and Hartman’s CEO Al Hartman. The photo attached is a picture of Al Hartman, CEO. Houston based real estate investment trust, Hartman Short Term Income Properties XX(Hartman) will pay $8 Million in employee profit-sharing and retention award bonuses to its employees. Hartman(refers to Allen R. Hartman and affliliated companies), which owns and operates over $750 Million in commercial real estate assets across Texas, announced its profit-sharing and retention plan to its employees following the completion of the merger of Hartman Income REIT (HI-REIT), Hartman Short Term Income Properties XIX, Inc. (Hartman XIX), and Hartman Short Term Properties XX, Inc. (Hartman XX). The purpose of the retention plan is to provide a means for eligible employees, under conditions set out, to participate in the current profits of the company. The plan offers an incentive for current employees to continue delivering exceptional service in the future. President and CEO Allen Hartman explains, “This is our way of better aligning our team members with the company’s shareholders. We want to recognize and reward the integral role our employees have had in building this great company and support them as they work towards financial independence and save for retirement.” When announced to employees on September 1, 2020 employees were both surprised and overjoyed. The profit-sharing plan announcement made the offices buzz. Employees received awards ranging in value from $25,000 to $800,000 based on tenure and position within the company and will receive an increase in their monthly income as a result of the award as well as a payment at the end of their retention period. One employee, who has been with the company 8 years and has been promoted 6 times, received an award for $400,000 which amounts to receiving an additional $25,000 each year in addition to their salary. After receiving the award, the employee shared, “It is humbling to work for a company that considers its employees its number one asset and rewards accordingly. One of our core values states, we acknowledge and celebrate our achievements, and the company has certainly done that. The fact that Mr. Hartman is concerned about his employees’ long-term financial well-being is a testament to his faith.” The company’s advisory committee and board of directors began discussions on this program in 2013 and began working through the details several months ago. The company recently celebrated surpassing $750 million in assets, well on its way to achieving its goal of $2 billion by 2025. Another employee, who has been with the company 18 years, shared in the excitement stating, “Hartman offers many opportunities for its employees to grow and gives them the support and tools to do so. I appreciate working for a company that acknowledges and rewards its employees for their hard work and effort.” Others expressed satisfaction that the company had implemented the profit-sharing plan and retention plan to share the profits with the employees. Hartman views the profit-sharing and retention plan as a way to provide an extra incentive for current employees to go above and beyond in delivering exceptional service in all that they do for the company throughout their individualized retention period. Hartman Income REIT Management employs nearly 200 people from across Texas with offices in Houston, Dallas, and San Antonio. Employee average tenure is 3 years. After being named one of the best places to work in Houston in 2019 by Zippia.com, Hartman continues to prove it is deserving of the title.

About Hartman: Hartman is a premier property management company in the Houston, Dallas, and San Antonio markets. Hartman has owned and operated commercial office properties since 1983, offering premium office space at attractive rates. With over 37 years of commercial leasing expertise in Houston, San Antonio and Dallas, Hartman knows exactly what their customers require. For more information, visit www.hi-reit.com.

Constructing Tomorrow’s Buildings: Expect an Explosion in Modular Design

Next year, a new Hyatt Place Hotel will rise in Waco, Texas. Though it will have all of the typical amenities and features of a modern, new construction hotel, it’s what the guests won’t ever see that will be truly groundbreaking. The project is using the latest evolution in modular design and construction. This process that has grown in maturity over the years, with recent innovations that endow tremendous time and cost advantages. The Waco Hyatt project, for instance, will be constructed almost entirely off site, in the fabrication facility that ModularDesign+ operates in Euless, Texas. A strategic partner of global architecture firm CannonDesign, ModularDesign+ hopes to change the way that owners, developers, architects and contractors think about modular construction. The 110-room, eight-story Hyatt Place Hotel Waco, designed by MWT Architects, will feature both rooftop and ground-level restaurants, a shopping center and a parking garage—all of which will be fabricated in Euless. Once completed, 140 stackable units will be shipped over the course of only three to four weeks to their final destination in Waco. That’s the largest incentive that modular offers: speed to market. The quicker that an owner or developer can begin generating revenue on a space, the better. For all its advantages such as reduced material waste and fewer construction days lost to inclement weather, however, building modular hasn’t always translated into cheaper construction costs. “The old-school methodology of modular construction was that an architect team would design a project, then the general contractor would lease a facility close to the job site and bring in the subcontractors to build the modules,” said Josh Mensinger, vice president, ModularDesign+. “They could never really figure out why there were no cost efficiencies.” At their Euless facility, ModularDesign+ uses the principles of DFMA, or design for manufacture and assembly to streamline operations. DFMA is an engineering methodology that simplifies both the design of a product, as well as the assembly of the component parts. DFMA allows a manufacturer—whether they be producing televisions, automobiles or multi-story buildings—to find the most efficient process to assemble that product. The result is greater schedule control and less waste, among other benefits. “We’re a manufacturer, we’re not a contractor. Our 100,000-square-foot facility that we have here in DFW is actually an assembly line,” Mensinger said. “That’s where we drive the costs—not just the schedule—down because we’re actually taking it from the approach of a manufactured good but using subcontractor trades.” In a trend that has shifted the approach that the industry is taking to modular construction and design, ModularDesign+ is producing structural, stackable volumetric modular units. Once on site, these can be craned into place like Lego bricks, constructing the total volume nearly three times as fast as it would take using traditional, stick-built methods. Henry Ford famously quipped that “Any customer can have a car painted any color that he wants, so long as it is black.” Ford, of course, revolutionized the manufacturing process with the introduction of the assembly line, enabling his company to quickly and cheaply produce Model Ts and meet growing demand. While that process allowed for less customizability, the tradeoff was affordability, bringing car ownership to the masses for the first time. According to Mensinger, that tradeoff cannot work with construction and design. That is why each project is unique, absorbing the desires and needs of the client and using the manufacturing facility to fabricate an end product that meets those specs as efficiently as possible. “If you go to a kit of parts, you don’t give the client much freedom to build the designs and the buildings that they want to,” said Mensinger. “What we designed in our manufacturing facility is a unique hybrid assembly line that allows us to adjust to the client’s needs.” This assembly line approach requires smaller construction teams, a real benefit during times of labor shortage. Additionally, job site safety is increased with fewer bodies moving around. Installing one modular unit may require only six to eight construction workers, far fewer than the 30 to 40 that would be needed on a similar project being erected using traditional methods. Modular “cassettes” that are inserted into ready and waiting buildings have been around for a while. They are especially useful and efficient in healthcare, hospitality and other asset types with repeatable interiors. This next evolution of modular construction is still in its nascent stage. There are a handful of projects around the world that have gone ground-up using stackable, modular components. As owners and developers are always looking to cut costs and increase efficiencies, the stage is set for this approach to find wider usage.

Poynter Commercial Properties Announces Building Lease at Commerce Green Office

(HOUSTON) – On behalf of Commerce Green Associates L.P., Poynter Commercial Properties Corp., the leasing and property management company for the Commerce Green Office Park in Sugar Land, announced today that they have signed a 12,485 NRSF lease with Horn Solutions, Inc., at 301 Commerce Green Boulevard. Kevin Poynter and Peyton Poynter of Poynter Commercial Properties Corp. represented the building owner, in negotiations on this lease transaction. Mr. Al Gabosch, of Moody Rambin, represented the Tenant. Commerce Green Office Park is a Class “A” office park complex conveniently located directly off I-59 at the intersection of Sugarcreek Blvd and Commerce Green. The three-building office complex, set on a beautifully landscaped five-acre site, offers both single occupant buildings and a 50,000 square foot multi tenanted building. Poynter Commercial Properties Corp. is a privately-owned Houston based real estate firm specializing in Development, Owner Representation, Tenant Representation, Property Management, Spatial Assessments, Construction Management, Market Analysis, Acquisition, Disposition, Geographic & Demographic Studies, and Feasibility Analysis. To learn more about Poynter Commercial Properties Corp. visit our website at www.pcptx.com.