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GALAXY NOT FAR AWAY
CLEAR LAKE (Galveston Daily News) – Construction crews broke ground last week on the city’s first Class-A office building in 20 years.
The five-story, 110,000-square-foot glass building, dubbed Galaxy II, is being developed by New Jersey–based firm Sherute LLC. The $15 million spec building is at 455 East Medical Center.
Houston-based architect firm Gensler will design the building, which is being touted as green. The project is expected to be completed next year.
SPECULATION ABOUNDS
HOUSTON (grubb-ellis.com) – The city’s almost 394 million-square-foot industrial leasing market posted 2.2 million square feet of positive net absorption during the second quarter, according to Grubb & Ellis’ second quarter Industrial Market Trends survey.
Construction of nearly 7.4 million square feet is keeping up with demand. Consequently, overall
vacancy fell slightly by 30 basis points to 5.7 percent during the quarter.
Overall asking rents were up slightly by $0.10 to $5.13 triple-net per-square-foot-per-year (NNN PSF/YR) during this year’s second quarter, up $0.23 from the same time last year.
Speculative construction, currently about 6.7 million square feet, is now at its highest level in the past ten years.
MODERATE OFFICE LEASING GROWTH
DALLAS (grubb-ellis.com) – The office leasing market maintained a steady pace with 530,000 square feet of positive absorption during the second quarter, according to Grubb & Ellis’ quarterly Office Market Trends survey.
Local gains were 1.1 million square feet higher through last year's second quarter.
While almost all the first-quarter absorption growth was due to demand for Class-B space, nearly
80 percent of the second quarter’s total space gains occurred in Class-A.
Approximately 51 percent of the 900,000 square feet of new speculative space was available and vacant at the time of delivery. New speculative construction coming online combined with local tenants shifting to Class-B and lower caused vacancy to remain flat throughout the first half of this year at 19.8 percent.
Construction is up about one million square feet since this time last year, with 4.7 million square feet going up through the first half of 2007. Overall, Dallas–Fort Worth full-service asking rents were up $1.55 over the 12 months ending this June with a second-quarter average of $21.05 per-square-foot-per-year.
The metroplex’s office space totals almost 177.5 million square feet.
INDUSTRIAL VACANCY, RENTS SLIGHTLY DOWN
DALLAS (grubb-ellis.com) – Despite significant amounts of space coming online, vacancy in the city’s industrial leasing fell below 9 percent, or 1.8 million square feet of positive net absorption, says Grubb & Ellis’ second quarter Industrial Market Trends survey.
Area-wide vacancy in the more than 636 million-square-foot industrial market fell 20 basis points to 8.8 percent since March.
Flower Mound has increased the most this past 12 months with over two million square feet of new industrial space.
Average Dallas–Fort Worth industrial market asking rents lost $0.02 in the second quarter for an average of $4.62 triple-net per-square-foot-per-year.
About 12.2 million square feet were under construction and 5.1 million square feet of space was delivered to the local market through the first half of this year.
RECORD OF THE DECADE
HOUSTON (grubb-ellis.com) – The office leasing market's second quarter absorption count was nearly 2.7 million square feet, the highest absorption reading in ten years, according to Grubb & Ellis’ second quarter Office Market Trends survey.
Overall vacancy was down almost 4 percent from the same quarter last year and is the lowest level in seven years.
Much of the demand for office space has resulted from the energy industry's growth. Class-A absorbed the most space with Chevron’s move into 1.2 million square feet at 1400 Smith.
Currently, the city has 159.5 million square feet of office space, with almost three million square feet under construction.
UPTOWN MOBILITY PROGRESS
HOUSTON (Realty News Report) – Continuing toward its goal of widening San Felipe and enhancing mobility in the uptown area, the Uptown Development Authority has purchased another parcel just east of San Felipe and Post Oak Boulevard.
The property, which had been used for retail customer parking, is one of four parcels the buyer has recently purchased between Post Oak Boulevard and Garrettson Street. Combined, the purchases cover about a half-acre at the San Felipe and Post Oak intersection.
Lewis Realty Advisors represented the Uptown Development Authority in the transactions. The seller was Rosario Messina Properties Ltd.
REDEVELOPMENT AT BULL CREEK, KINGSWOOD
AUSTIN (Transwestern) – Through two recent purchases, Atlanta-based Post Properties and local firm Ardent Residential have secured almost an acre for redevelopment.
The partnership bought Bull Creek Townhomes, the 140-unit residential community at 4320 Bull Creek Rd., and neighboring Kingswood Apartments, the 32-unit complex at 4318 Bull Creek Rd.
Transwestern’s Central Texas Multifamily Group represented the buyers and Bull Creek’s owners, an Austin-based partnership.
JOINT VENTURE PLUNGES IN AT WATERPOINT
CONROE (GPW One LLC) – Gordon Partners LLC and Winkler & Associates Inc. have broken ground on the 14-acre Waterpoint at Lake Conroe.
The mixed-use development at Hwy. 105 and Tejas Blvd. will have 90,000 square feet of retail, restaurant and office space and a 2,000-foot lakefront boardwalk. Construction on the first phase of 200 condominiums will begin later this year.
Live Oak Capital arranged the construction loan from Regions Bank. US Builders of Houston is the general contractor. The community was designed by Gordon Partners Design. The project team includes Ken Anderson & Associates Architects of The Woodlands and Century Engineering of Houston.
OFFICING AT LANTANA
AUSTIN (Austin Business Journal) – Locally based Stratus Properties Inc. will begin construction later this year on two three-story, Class-A office buildings at Lantana, a 500-acre mixed-use development.
The project will total 180,000 square feet and is expected to cost more than $36 million. Construction should be completed late next year.
FORMER COMPAQ HQ PURCHASED
HOUSTON (globest.com) – A joint venture has purchased a four-building office and manufacturing complex that once served as Compaq’s corporate headquarters.
The 44.5-acre property includes three office buildings totaling more than 487,000 square feet and a manufacturing building at 20445-475 Compaq Center Dr.
The buyers, Dallas-based Macfarlan Capital Partners and Buchanan Street Partners of California, plan to convert the manufacturing building to office space and rename the complex Centre at Cypress Creek. When completed, it will have about 630,000 square feet of offices.
Marcus & Millichap represented both sides in the transaction. Holliday Fenoglio Fowler LP arranged acquisition financing and joint venture equity totaling about $100 million for the purchase, renovation and repositioning. Locally based Transwestern will handle leasing and managing.
NORTH BELT III, IV SOLD
HOUSTON (Holliday Fenoglio Fowler LP) – Fort Properties Inc. has purchased North Belt Office Center III and IV from Rainier Properties LP.
The Class-A, single-story office buildings total 107,200 square feet. Located on more than ten acres at 600 and 700 North Sam Houston Pkwy., the buildings are fully occupied by the U.S. Postal Service, ExpressJet and Unisys.
Holliday Fenoglio Fowler’s local office marketed the property for the seller.
ENTERTAINMENT DEVELOPER'S NEW FOCUS
COLLEGE STATION (Bryan-College Station Eagle) – Developer Mike Logan plans to turn Wolf Pen Bowl and Skate into a family entertainment center with multilevel laser tag, indoor miniature golf and a bowling alley.
Logan bought the property from longtime owners Martha and Robert Camp. The sale also included Triangle Bowl, which will be closed.
Plans to transform the almost 72,000-square-foot Wolf Pen Bowl and Skate into Grand Station include renovating the existing bowling alley but scrapping the adjoining roller-skating rink. In place of the skating rink will be an 18-hole miniature golf course, an arcade and video game area, and a 6,000-square-foot, multilevel laser-tag arena.
Logan announced plans over two years ago to build a similar entertainment center at Boonville Road and Earl Rudder Freeway in Bryan. Those plans were put on hold when he found out Wolf Pen Bowl and Skate was for sale.
The renovations on Grand Station should be completed by November.
NEW LIFE FOR HEALTHCARE FACILITY
SPRING BRANCH (Houston Business Journal) – Houston-based CooperWelch has purchased a four-acre tract from Nashville-based HCA Inc. and Spring Branch Medical Center.
The property, north of Westview Drive, between Moritz Drive and Pech Road, includes a closed healthcare facility that will be replaced with 35 patio homes in a gated community and ten townhomes. The mission-styled residences will range from 2,500 to 3,300 square feet and sell for $400,000 to $600,000.
Construction will begin in about three months on the three-story townhomes, which will be ready in late spring 2008. The patio homes will be ready by fall 2008.
NAI Houston represented both the buyer and the seller.
ALAMO CITY'S APARTMENT MARKET COOLS
SAN ANTONIO (San Antonio Business Journal) – According to the latest report by Austin Investor Interests, San Antonio’s apartment market was noticeably quieter during second quarter 2007.
During the first three months of this year, the multifamily research firm reported that construction began on 11 new apartment projects, a new high for the city. In all, these projects are slated to bring another 2,473 units into the city’s multifamily sector.
Between the months of April and June, however, only three projects totaling 765 units got off the ground.
Currently, more than 7,000 new units are in the works in the area, and about 2,800 of those are slated to enter the market before year's end. Of these 2,800 units, 1,700 are market-rate projects, while the remaining 1,100 are for the affordable-housing sector.
BOOMERS WATCHING AUSTIN
AUSTIN (AARP The Magazine) – Texas' capital city has landed on the list of the top four "retirement-friendly" cities to watch, according to AARP The Magazine.
Features that make a community livable, such as mass-transit systems, expanded sidewalks, better healthcare and a wide range of mixed-use housing, were among the criteria for determing the magazine’s list of five great places to live and the four cities worth watching. These features tend to attract residents over age 50. According to the magazine, that age group is estimated to grow by 32 percent in the next 15 years.
The three other places to watch were Burlington, Vt.; Mankato, Minn.; and Traverse City, Mich. The top five places in the nation for retirees were Atlanta, Ga; Boston, Mass.; Chandler, Ariz.; Milwaukee, Wis.; and Portland, Ore.
MUELLER MULTIFAMILY DEVELOPMENT UNDERWAY
AUSTIN (globest.com) – Construction has begun on the first multifamily development at the former Robert Mueller Municipal Airport.
Mosaic at Mueller is a $45 million, 440,000-square-foot complex with 442 apartment units. It is being developed by Austin- and Houston-based Simmons Vedder & Co. in partnership with Dallas-based Crow Holdings Realty Partners IV LP.
The four-story Mosaic at Mueller will include one-, two- and three-bedroom units ranging from 580 to 1,750 square feet. Monthly rents will range from $850 to $2,500, with 10 percent of the units available to low-income renters. Facilities will include swimming pools, a clubroom, fitness center and a business center.
Simmons Vedder was awarded development rights for the site under a ground lease with the 711-acre airport’s redeveloper, Catellus Development Group, a subsidiary of Denver-based ProLogis.
Leasing begins late next summer.
A QUARTER TO GO AT BAYPORT
PASADENA (globest.com) – Phase one of the one-year-old Bayport North Distribution Center is now 72 percent leased thanks to two transactions totaling 204,000 square feet.
Catalytic Distillation Technologies, a Houston-based developer and licenser of refining and petrochemical processes, has leased 60,000 square feet. Memphis-based Mallory Alexander International Logistics LLC will occupy 144,000 square feet.
The two-building, 563,500-square-foot, rail-served office/warehouse at 4330 Underwood Rd. was completed last summer by Vantage Cos. and sold to California-based REIT Carson Cos. Based in Houston, Vantage manages and leases the buildings for Carson.
Carson is currently beginning the project's second phase, which will feature two cross-dock buildings totaling 772,000 square feet.
Leasesquarefeet.com in Houston represented Catalytic Distillation, while Moody Rambin Industrial Realty, also of Houston, represented Mallory Alexander. Vantage represented Carson.
THE RISE AND FALL OF EXISTING-HOME SALES
WASHINGTON (National Association of Realtors) – Sales of existing homes fell last month. Prices rose modestly as inventories eased, according to the National Association of Realtors (NAR).
Total existing-home sales — including single-family, townhomes, condominiums and co-ops — declined 3.8 percent to a seasonally adjusted annual rate of 5.8 million units, 11.4 percent below the 6.5 million unit pace same time last year.
“Although we’ve seen seasonal month-to-month price increases over the past four months, this is the first time in 11 months that the median home price is higher than the year-ago price,” said NAR Senior Economist Lawrence Yun.
Last month’s national median existing-home price for all housing types was $230,100, up 0.3 percent from last year. Total housing inventory fell 4.2 percent to 4.2 million existing homes available for sale, representing an almost nine-month supply at the current sales pace, the same as in May.
Regionally, existing-home sales in the South eased by 1.7 percent to an annual sales rate of 2.3 million, 11.4 percent below a year ago. The median price in the South was $190,800, up 0.7 percent from June 2006.
AUSTIN 'BURBS SALES RISE
LEANDER, CEDAR PARK (impactnewspaper.com) – Home sales in the area increased last month, according to the Cedar Park–Leander MLS.
While the 198 homes sold in June represents a decline from the 295 sold during the same time last year, it is an increase over the 132 homes sold in May.
Last month’s average price per home was $166,287, up from $160,465 per home in May, but down from last year’s $172,265.
NURSING HOME EXPANSION PLANNED
GARRISON (svn.com) – Garrison Nursing Home, a 1960s-era, 43-unit nursing home, has been sold to New York–based Garrison Realty.
The new owner will build a replacement facility containing approximately 100 beds. It is scheduled to open next summer.
Sperry Van Ness in Fort Worth represented Garrison Realty and the seller, Garrison-based Garrison Nursing Home Inc.
CAPITAL CITY'S RECORD LOW
AUSTIN (grubb-ellis.com) – Net absorption in the city’s industrial leasing market this second quarter was over 2.6 million square feet, according to Grubb & Ellis’ second quarter Industrial Market Trends survey.
The overall vacancy rate in the over 68.4 million-square-foot industrial sector fell by 90 basis points to 7.3 percent, the lowest level recorded in seven years. Another more than 1.4 million square feet are under construction.
Among all sectors, the citywide low vacancy rate (3.7 percent) was in the standard industrial product, which led with 1.8 million square feet of growth.
Overall asking rents increased by $0.66 to $7.75 triple-net per-square-foot-per-year (NNN PSF/YR) during this year’s second quarter, a $1.38 PSF increase over the same time last year.
Much of the growth is in the northeast submarket where Samsung Electronics Co. Ltd. opened a 1.6 million-square-foot 30mm NAND flash memory wafer plant, one of the largest single semiconductor facilities in the United States.
ABSORPTION CONTINUES CLIMB, VACANCY SLIGHTLY UP
AUSTIN (grubb-ellis.com) – The office leasing market, which totals more than 39.2 million square feet, recorded its sixth consecutive quarter of positive growth, pushing the year-to-date absorption level to 600,811 square feet, according to Grubb & Ellis' second quarter Office Market Trends report.
Despite the quarterly absorption gain, Austin’s overall vacancy ended the quarter 20 basis points higher at 11.5 percent. Class-B office space has the highest vacancy rate at 12.7 percent, followed by Class-A space at 11.4 percent and Class-C at 6.8 percent.
Landlords are boosting rents beyond levels seen during the previous record high in 2000. Overall full-service asking rents increased by $1.25 to $25.88 per-square-foot-per-year as all classes experienced an increase in asking rents over the quarter.
RIVER CITY'S INDUSTRIAL STRENGTH
SAN ANTONIO (grubb-ellis.com) – The city’s roughly 62.8 million-square-foot industrial market closed the first half of this year with almost 348,000 square feet of positive absorption, bringing the year-to-date growth to just over 500,000 square feet, according to Grubb & Ellis' Second Quarter Industrial Market trends.
General industrial properties closed the quarter with the least absorption at 9,457 square feet. The largest gain, 297,007 square feet, was seen in the warehouse and distribution sector.
Overall asking rents for the quarter increased a slight $0.06 to $5.07 triple-net per-square-foot-per-year. New construction levels rose by 180,000 square feet.
Overall, industrial space vacancy remained level at 8.4 percent.
New construction levels rose by 180,000 square feet. Currently, over 1.4 million square feet of speculative development is underway, with the majority concentrated in the northeast submarket and Port San Antonio.
FIFTEENTH FOR OFFICE ABSORPTION
SAN ANTONIO (grubb-ellis.com) – For the fifteenth consecutive quarter, the city’s roughly 23.6 million-square-foot office leasing market registered positive absorption with the mid-year absorption total at 354,650 square feet, reports Grubb & Ellis’ second quarter Office Market Trends survey.
During the second quarter, the Class-A sector filled the most space (157,062 square feet). Class-B and Class-C sectors posted gains of 90,549 and 14,525 square feet, respectively.
San Antonio’s overall second quarter office vacancy declined 60 basis points to 11.1 percent. Class-C had the largest drop, a full percentage point, to 13.6 percent.
Full-service asking rents increased by $0.33 to $19.45 per-square-foot-per-year (PSF/YR). Class-A led with a $0.26 bump to $22.35 PSF/YR, Class-B increased $0.13 to $17.90 PSF/YR. Class-C full-service increased by $0.21 to $15.81 PSF/YR.
TEXAS EMPLOYMENT SLOWING BUT STRONG
COLLEGE STATION (Real Estate Center) – The Texas labor market is cooling, but the pace of job creation in Texas is still higher than the national average. The state’s nonfarm employment rose 2.1 percent from June 2006 to June 2007, compared with 1.4 percent for the United States.
Texas’ seasonally adjusted unemployment rate fell from 4.9 percent in June 2006 to 4.1 percent in June 2007.
The state’s mining industry, which consists mainly of oil and gas extraction, ranked first in job creation, followed by professional and business services, the leisure and hospitality industry and construction.
All Texas metro areas except San Angelo and Texarkana had positive employment growth rates from June 2006 to June 2007. Lubbock ranked first in job creation, followed by Midland, Austin–Round Rock, Odessa, and Laredo.
Midland had the lowest unemployment rate, followed by Amarillo, Austin–Round Rock, Odessa and Abilene. For more information, see the full report.
CLASS-A WESTBRIDGE SOLD
CARROLLTON (globest.com) – A Boston-based investment group has purchased the 284-unit Westbridge Apartment Homes from Cornerstone Real Estate Advisors LLC.
The Class-A Westbridge was developed four years ago on a 16-acre tract at 2300 Marsh Lane. The 95 percent occupied complex consists of one- and two-bedroom units in 17 residential buildings and a leasing office. The units range from 641 to 1,140 square feet. The average rent is $1.08 per square foot.
Apartment Realty Advisors’ Dallas office represented the Hartford-based seller. Michelson Management Co. will manage the property.
SCHOOL'S OUT, RETAIL'S IN
HOUSTON (Trammell Crow Company) – The former site of the Houston Independent School District’s headquarters will soon be home to Greenway Commons, a two-story, 256,700-square-foot retail center.
The center, being developed by Trammell Crow Company, The Morgan Group and institutional investors advised by Prudential Real Estate Investors, will occupy more than 15 acres of the 24-acre site at Weslayan Road and Richmond Avenue. It will feature a 164,000-square-foot Costco, a 45,000-square-foot LA Fitness health club, a four-level parking garage, a 39,000-square-foot, two-story retail building and two pad sites.
In addition, The Morgan Group will build a 526-unit, high-end, midrise apartment community on the site. Construction begins in December.
CDA Architects is the architect and Miner-Dederick Constructors Inc. is the general contractor for the retail project. Wallace Garcia Wilson is the architect and Morgan Construction is the general contractor for the residential component.
CB Richard Ellis will handle the leasing for the retail side of the project, which is expected to be completed next summer.
LUXURY HOUSING, NATURE HAVEN PLANNED
EL PASO (El Paso Times) – Villagi Communities broke ground yesterday on Heritage Farms, a luxury housing community in the Upper Valley.
About one-third of the 32-acre gated community will be designated as a haven for local plants and wildlife.
Four local home builders have already committed to building custom homes in the development. Lot construction will begin in October or November, and homes will be available for purchase about seven months later.
NEW HILLSIDE VILLAGE OWNERSHIP
DALLAS (Holliday Fenoglio Fowler LP) – Twinrose Investments of Allen has purchased a more than 166,000-square-foot regional shopping center from Dunhill Partners Inc.
The fully occupied Hillside Village is on almost 12 acres at Mockingbird Lane and Abrams Road. It was renovated in 1993, and its tenants include SteinMart, Dollar Tree, Blockbuster Video, 7-Eleven and Washington Mutual.
Holliday Fenoglio Fowler LP’s Dallas office represented the seller and secured a fixed-rate loan through Column Financial Inc. on behalf of the buyer.
PORTFOLIO WITH TWO IN TEXAS
ROUND ROCK (Austin Business Journal) – KBS Real Estate Investment Trust has purchased a portfolio consisting of nine Class-A office, warehouse and distribution facilities, two of which are in Texas.
The largest Texas facility is in Round Rock. The more than 240,000-square-foot Crystal Park II industrial building is within the 38-acre Crystal Park complex at Old Settlers Boulevard and Greenhill Drive. The other Texas property, the just over 131,000-square-foot Corporate Express building, is in the Dallas–Fort Worth area.
Minneapolis-based Opus Corp., which sold the more than two million-square-foot portfolio to California-based KBS for $124.5 million, was represented by CB Richard Ellis.
NEW HOME CONSTRUCTION UP
AUSTIN (Austin Business Journal) – Area home builders started 4,132 new homes during second quarter 2007, according to housing research group Metrostudy.
That is more than 1,100 more homes than builders started during the first quarter, but it is still 8 percent fewer than the number of starts in second quarter 2006. The annual rate of new home starts is also 8 percent below where it was this time last year, according to the study.
That's due in large part to a significant reduction in starts on new homes priced below $200,000. Construction of new homes in the $400,000 to $750,000 range jumped 66 percent during the last 12 months.
Buyers closed on 3,818 new homes during the second quarter, a 13 percent decline from second quarter 2006. The annual closings rate is up 7 percent from last year to 16,125 units.
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FREEBIRDS SALE WRAPPED
COLLEGE STATION (Austin Business Journal, Orlando Business Journal) – Tavistock Restaurants of California has wrapped up its purchase of Freebirds World Burrito.
The chain, known for its oversized "Monster" burritos, is based in College Station and has 19 locations throughout Texas, including four in Austin.
According to Tavistock, Freebirds will continue to operate as an independent brand but be taken nationwide.
Tavistock Restaurants LLC owns restaurants in ten states under a number of brands, including Blackhawk Grille, California Cafe, Napa Valley Grille and Alcatraz Brewing Co.
LEGAL SEMINAR REGISTRATION TO INCREASE
COLLEGE STATION (Real Estate Center) – Registration for the 21st Annual Legal Seminar on Ad Valorem Taxation will increase from $365 to $385 per person Aug. 8.
The seminar will cover a variety of legal, economic and other issues influencing ad valorem taxation. It will be held Aug. 29–31 at the Hyatt Regency in San Antonio.
Information about the seminar and online registration is available at the Center's website. To reserve a hotel room at the special seminar rate, click here.
SUMMIT EARLY REGISTRATION FEE EXTENDED
COLLEGE STATION (Real Estate Center) – Early registration for the 2007 Real Estate Summit has been extended to this Thursday. Beginning Friday, the fee will increase from $20 to $30.
The half-day program, made possible by a grant to Angelina College from the Bert Gann Memorial Trust, will be held Aug. 2 at Angelina College in Lufkin. It will feature a luncheon followed by a three-hour MCE course (elective credit only). Real Estate Center researchers will provide information on housing, residential lending and land markets. An economic analysis and forecast for Texas real estate will also be included.
Information about the conference, including a downloadable brochure, is available at the Center's website.
AFFORDING THE CANAL
HOUSTON (Houston Chronicle) – Locally based Property Group has opened the six-story, 200-unit Canal Place Apartments complex at Canal and Navigation.
In return for offering discounts on 75 percent of the units to qualified, low-income renters, the $23 million complex received incremental federal income tax credits for the next ten years from the Texas Department of Housing and Community Affairs.
The new complex is currently 12 percent occupied and consists of granite counters and cherrywood cabinetry in the one- to three-bedroom units, as well as a swimming pool, fitness center, media and gameroom, and children's playground. The affordable units range from $625 to $863 per month, with the remaining units leasing from $895 to $1,790.
CENTRAL TEXAS HOME RESALES DROP
AUSTIN (Austin American-Statesman) – Sales of existing homes in Central Texas last month fell 6 percent from a year ago, marking the first drop in June in five years, according to the Austin Board of Realtors.
The drops were concentrated in homes costing $130,000 and less, reflecting tighter credit standards lenders have imposed in the wake of the subprime mortgage market collapse.
More than 9,000 homes were on the market last month, 8 percent more than last year and the biggest number in several years.
Meanwhile, the median price for homes continued to rise. It was at $191,050 in June, a 7 percent increase. A 5 percent increase this month would put the median at more than $200,000.
STAYIN' AWHILE
SAN ANTONIO (San Antonio Business Journal) – Marriott International Inc. recently opened the city's first TownePlace Suites. The studio suites, designed for travelers staying a week or longer, are fully furnished with separate kitchens.
The 106-suite extended-stay hotel at 214 N.E. Loop 410 near San Antonio International Airport is owned by Apple REIT and managed by Texas Western Hospitality Management of Dallas.
Washington, D.C.–based Marriott’s TownePlace Suites, which first opened in 1997, are now in more than 120 locations across the United States.
CROWLEY MIXED-USE SPACE PLANNED
CROWLEY (globest.com) – Domus Fund III has purchased 27 acres within the city limits, where the Dallas-based firm plans to develop about 250,000 square feet of retail and office space.
The property, located on SH 1187, is already entitled and served by city utilities.
Domus was represented by Jay Holman, while Colleyville-based seller Crowley Partners Ltd. was represented by NAI Huff Partners LP of Fort Worth.
AIR SUPPLY
TEXAS CITY (The Galveston County Daily News) – Praxair, a producer and distributor of atmospheric, process and specialty gases for industry, is set to begin building a $60 million air-separation plant at its facility at 703 Sixth St. S.
The new plant, on the west side of Praxair’s property near SH 146, is expected to add about ten jobs with yearly salaries exceeding $50,000, said Mayor Matt Doyle.
CENTREPORT OFFICE COMPLEX SOLD
FORT WORTH (Holliday Fenoglio Fowler LP) – Behringer Harvard Real Estate Investments has purchased the CentrePort Office Center from Invesco Real Estate.
The two-building, more than 134,000-square-foot development is on 15-plus acres at 14670 and 14770 Trinity Blvd., within the master-planned CentrePort community. Completed in 1999, the property is 100 percent leased to Dean Foods and Radiant Systems.
Holliday Fenoglio Fowler LP’s Dallas office represented the seller.
TUSCAN TASTE, GREEN SPACE
BEE CAVE (Austin American-Statesman) – Tennessee-based Southern Land Co. will break ground next month on a $160 million, Tuscany-style residential development that will include green space.
Cielo, near RM 620 and SH 71, will have 400 luxury flats, condominiums and townhomes. The development will include more than 20 floor plans for the one- and two-bedroom homes, which will start in the upper $300,000s.
The 78-acre development will be surrounded by the Balcones Canyonlands Preserve, and about 28 acres will be reserved for green space.
The project is scheduled for completion in 2013.
REDEVELOPING BAKERY, DOZEN ACRES
DALLAS (The Dallas Morning News) – An investment partnership has purchased more than 12 acres between Bryan Street and Ross Avenue, including the historic Mrs Baird’s building.
Burlew Street Partners plans to use most of the property for townhouses. It has already lined up a sale of two of its tracts to townhome builders.
In addition, the developer will remodel the two-story, 44,000-square-foot former bakery into residential units.
Local architects Merriman Associates will design the projects.
PUTTIN' ON THE RITZ
DALLAS (The Dallas Morning News) – The 218-room Ritz-Carlton Dallas at 2121 McKinney Ave. opens Aug. 15, marking not only the luxury hotel chain's first presence in Texas, but its first U.S. hotel opening in nearly four years.
J.C. PENNEY'S SIMULTANEOUS OPENINGS
PLANO (Business Wire, San Antonio Business Journal) – On Aug. 3, J.C. Penney Co. Inc. will host simultaneous grand openings of 14 JCPenney stores nationwide.
A 180,000-square-foot department store, which is expected to create 250 jobs, will open at North Star Mall on 7400 San Pedro in San Antonio.
In Cypress, a 100,000-square-foot JCPenney store will open in the Cy-Fair Town Center at 25646 Northwest Frwy. and create about 200 jobs.
The company currently has 1,040 stores and plans to open 250 more through 2011.
COVENANT MEDICAL CENTER BREAKS GROUND
LUBBOCK (The Lubbock Avalanche-Journal) – Covenant Health System broke ground today on a new three-story primary care center that will anchor a larger mixed-use complex.
As many as seven buildings will be constructed at the 30-acre Covenant Health System Southwest Medical Park at 98th Street and Slide Road.
The 65,000-square-foot medical building will be occupied by Covenant as part of a lease-back arranged by the Paul Kite Co. of Indianapolis and the Dallas office of Hammes Corp.
Covenant officials said 18 pediatric, internal medicine and other specialty physicians have committed to the project. Other specialty practices are expected to have an office presence to offer care to patients once the new building is opened.
Construction on the $7.5 million facility should be completed by August or September of next year.
FINDING AVALON
AUSTIN (Austin Business Journal) – Palms of Avalon Apartments Texas LLC, based in Los Angeles, has purchased the 352-unit Avalon Palms apartment complex just off US 183.
The roughly 13-acre property at 9001 and 9003 Northgate Blvd. has a combined property value of $10 million on the Travis County tax rolls. It was built in the early 1970s.
Hendricks & Partners' Austin office represented the seller, an El Paso–based limited partnership. Greg Salyers in Los Angeles represented the buyer.
CHILD-FRIENDLY RENOVATIONS UNDERWAY
AUSTIN (Austin Business Journal) – The Texas School for the Blind and Visually Impaired (TSBVI) is receiving almost $110 million in state funds for major renovations to the 150-year-old campus.
"We are going to be giving our children a much more child-friendly environment," said Phil Hatlen, retiring superintendent of TSBVI, considered one of the country's leading schools for blind and visually impaired students.
Over the next four to eight years, the campus will be modernized through renovations and new construction and by demolishing some buildings and upgrading security and landscaping.
Halff Associates, a Dallas-based architectural and engineering firm with Austin offices, is designing student housing.
Among the upcoming projects are eight student dormitories, a student activity center, an elementary physical education and therapy building, a vocational building, independent-living apartments, a track-and-field facility and indoor pool.
VISTA GOES CASUAL
LEWISVILLE (globest.com) – Jackson-Shaw Co. of Dallas breaks ground late this fall on Vista Oaks, a "casual Class-A office" complex to be built on the last 20 acres in its 50.5-acre Vista Point development.
Vista Oaks will cost more than $40 million and add 250,000 to 300,000 square feet of office space to the Vista Point development, which sits at SH 121 and MacArthur Boulevard.
The four-building complex will be adjacent to the Lewisville convention center on the Lewisville-Coppell border. It is being designed by Good Fulton & Farrell Inc. of Dallas and is expected to open in fall 2008.
BALL CONTROL
SCHERTZ (KENS-5 TV, worldwidesoccersa.com) – A group of investors from Mexico, including spokesman Roberto Camargo, has purchased close to 100 acres on FM 1518 and Maske Road and have plans to develop a world-class soccer arena.
Jay Sparrow, a former semipro soccer player and director of San Antonio–based World Wide Soccer, said the land is being developed in partnership with their organization.
Plans include an air-conditioned facility for fans to watch the game, 25 soccer fields, onsite dormitories and training camps, concession areas, retail shops and restaurants, and a few Mexican coffee shops.
The soccer campus is scheduled for completion within a year.
LONE STAR SPRAWL
NEW YORK (Forbes) – Twenty Texas cities sprawled onto Forbes’ latest “100 Fastest-Growing Suburbs” survey, the most of any state making the list.
Frisco, ranked 7th, grew at a galloping 128 percent while Wylie, ranked 8th, grew at just over 109 percent, according to Forbes.
Other Texas cities making the list were Cedar Park (11), McKinney (13), Rockwall (21), Sachse (22), Pflugerville (23), Corinth (30), Allen (33), Pearland (34), The Colony (47), Round Rock (49), Saginaw (50), Mansfield (54), Georgetown (55), Burleson (58), League City (65), Missouri City (78), Schertz (91) and Terrell (96).
The fastest growing suburb in the country was Lincoln, Calif., which grew last year by almost 237 percent.
SAAD'S PINPOINT PURCHASE
HOUSTON (CB Richard Ellis) – Saad Development Corporation has purchased just over 25 acres in the 351-acre Houston Business Center.
CB Richard Ellis represented both Saad and seller PinPoint Commercial LP in the transaction.
WHEELER-DEALER
HOUSTON (Trammell Crow Company, CB Richard Ellis) – Foster Wheeler USA Corporation has leased the entire Energy Center 1 office building at 2020 Dairy Ashford.
Foster Wheeler will move all local operations to the under-construction 13-story, Class-A, 332,000-square-foot high-rise at the northeast corner of Eldridge Parkway and Katy Freeway.
The building is slated for completion in February 2008.
CB Richard Ellis represented the landlord, a joint venture between Trammell Crow Company and Principal Real Estate Investors. The tenant was represented by Jackson & Cooksey.
KHOSHBIN'S INDUSTRIAL PICKUP
HOUSTON (CB Richard Ellis) – The Khoshbin Company, a California-based commercial real estate management and investment company, has purchased three industrial centers totaling more than 338,000 square feet in north Houston.
The centers include 11 buildings that are 83 percent occupied and have 58 tenants. Included in the portfolio were:
CB Richard Ellis represented seller First Industrial Realty Trust.
THE EIGHTEEN HUNDRED AT 1800
SAN ANTONIO (San Antonio Express-News) – A Dallas-based developer is planning about 200 apartments for the 1800 block of Broadway at Grayson Street.
The San Antonio Historic and Design Review Commission approved The Eighteen Hundred earlier this week, and developer Regent Communities Inc. expects to begin demolition work in November. The three-acre site is presently home to a Snow White Cleaners & Tailors and a vacant building that used to house Fox Photo.
The four-story, four-building complex, designed by James, Harwick + Partners Inc. of Dallas, will include apartments for three income levels, with the lowest starting at about $800 per month for a small one-bedroom.
VICKERY LANE FACILITY SOLD
HOUSTON (CB Richard Ellis) – Corrections Corporation of America has purchased a 108,900-square-foot industrial and warehouse facility at 16038 Vickery Lane.
CB Richard Ellis represented seller World Houston Air Cargo Center Ltd.
TAR PODCAST GOES LIVE
AUSTIN (Texas Association of Realtors) – A biweekly audio podcast is now available to Texas Realtors.
“Texas Realtor Update, the Official Podcast of the Texas Association of Realtors,” will be hosted by Texas Realtor Editor Marty Kramer and include industry news, legal and regulatory information, technology tips, ethics information, and other topics of interest to Texas Realtors.
Texas Realtors can subscribe to the podcast online.
SECOND IN CLOSING COSTS
FLORIDA (bankrate.com) – For the second year in a row, Texas had the second-highest mortgage origination, title and closing costs, according to Bankrate.com's annual survey, which based closing costs on a $200,000 mortgage.
New York topped the list for the third time with an average cost of $3,830; Texas’ was $3,413. Mid-range states were Michigan and Minnesota at $2,694 and $2,692, respectively. Indiana was least expensive at $2,339 — about $1,074 less than Texas.
The next most expensive states were Florida, Pennsylvania, Ohio and Hawaii. After Indiana, the least expensive states in which to buy a mortgage are Wyoming, Illinois, Nevada and North Carolina.
Fees vary from state to state because of differing taxes, customs and regulations.
The survey also found that states with the biggest populations tend to have the highest mortgage-related fees. The five most expensive states are among the seven most populous: New York is third in population, Texas is second, Florida is fourth, and Pennsylvania and Ohio are sixth and seventh.
SPRING ON THE WAY
AUSTIN (Austin American-Statesman) – Work begins Tuesday on the 42-story Spring condominium tower at Third and Bowie.
The building will have nearly 250 units. One-bedroom condos, at 575 square feet each, will start at $237,000, while the two-bedroom, two-bath units will range from $430,000 to $530,000.
The project is being developed by Robert Barnstone, Perry Lorenz, Larry Warshaw and Diana Zuniga with a design by Vancouver-based Rafii Architects.
Construction will wrap in 2009.
HOME SALES FALL IN BAYOU CITY
HOUSTON (Houston Chronicle) – According to figures from the Houston Association of Realtors, area home sales fell for the second month in a row and for the third month this year.
Single-family home sales fell 6.9 percent last month from a year ago, with almost all of the decline involving homes priced from $80,000 to $140,000. Sales of homes priced at $500,000 and higher were up 11.7 percent.
The median price for a single-family home rose in June to a record high of $160,000, an increase of 2.6 percent over last year.
Realtors sold 7,154 single-family homes last month through the Multiple Listing Service — 534 fewer than they did in the same month last year. About 15 percent of those were new homes. In fact, sales of new homes fell 19 percent in June from the same month last year, according to Metrostudy.
Including townhomes, condominiums and other properties, sales fell 8.4 percent during the month.
While pending sales were down 1.5 percent, 37,236 single-family properties were listed for sale last month, an 18.6 percent increase over June 2006 and the 12th month with a year-over-year increase.
THE TWO TOWERS
DALLAS (The Dallas Morning News) – Granite Properties and Gables Residential are spending $200 million on a two-tower high-rise complex on Akard Street.
The complex will consist of a 24-story residential tower with 296 apartments and a 20-story, 330,000-square-foot office building. About 17,000 square feet of restaurant and retail space will be available on the ground floor. A fitness center and swimming pool will be located between the two towers on top of the seven-level parking garage.
Architect Good Fulton & Farrell designed the development, which will break ground in January and open in 2009. Austin Commercial is the general contractor.
BIG D HOME SALES DIP
DALLAS (The Dallas Morning News) – Median home sales prices so far this year are down in 14 Dallas–Fort Worth residential areas, according to data from the North Texas Real Estate Information System.
Sales for existing homes in Westlake, Sunnyvale and Grapevine have dropped more than 20 percent this year, while sales in Coppell are off 35 percent from the first half of 2006.
Statistics show that much of the sales decline this year has been for homes priced at $190,000 or less.
The news is brighter in some areas. Take Lancaster, for example, where home sales were up 37 percent in the first six months of this year.
LAQUINTA PREPARATION UNDERWAY
LONGVIEW (Longview News-Journal) – Mark Patel is developing a three-story LaQuinta Inn at 908 East Hawkins Pkwy.
Locally based Johnson and Pace is doing the engineering work for the two-acre site.
FIRST BUYS TWO
HOUSTON (CB Richard Ellis) – First Industrial Acquisitions Inc. has purchased two industrial and warehouse spaces from South by South Southwest HSO Limited Partnership and Wynnwood HSO Limited Partnership.
The firm bought about 90,500 square feet at 700–760 Industrial Blvd. in Sugar Land and almost 85,000 square feet at 7230–7260 Wynnwood in Houston.
CB Richard Ellis represented the seller.
SIX AMONG BEST PLACES TO LIVE
NEW YORK (CNNMoney.com, Griffin Integrated Marketing) – Six Texas towns recently made CNN/Money’s list of 100 “Best Places to Live” in the United States.
Schertz ranked highest at 40th, while Hewitt was number 44, Keller was 50, Friendswood was 51, Mansfield was 83 and Grapevine was 97.
The 2007 list focused on small towns that have populations between 7,500 and 50,000 and that offer the best combination of economic opportunity, good schools, safe streets, things to do and a sense of community.
U.S. HOUSING MARKET REVERTING TO NORM
NEW YORK (Bloomberg News, Real Estate Center) – The National Association of Realtors (NAR) projects that U.S. home sales and prices will continue to fall this year, and the housing slump will persist into next year as builders curtail production.
NAR reduced its sales forecast Wednesday for the seventh consecutive month and said existing home sales will fall 5.6 percent to 6.11 million in 2007. Prices will drop 1.4 percent. In 2008, single-family housing starts will probably fall to their lowest since 1995.
Dr. James Gaines, research economist with the Real Estate Center at Texas A&M University, said the decline is natural and expected after several years of uncommonly high sales levels.
“Through a series of market factors, sales reached very high, unsustainable levels from 2004 through 2006,” Gaines said. “Now we’re seeing the housing market revert to its norm. The market took several steps forward during the last few years. Now it’s taking a step back.”
ACREAGE EARMARKED FOR OFFICE USE
ADDISON (costar.com) – Opus West Corp. has earmarked 3.5 acres near Addison Circle for office development.
Opus West purchased the site from Staubach Assets Inc., and it is one of the last tracts in town zoned for office development. The company, which represented itself in the transaction, plans to use the tract for a multistory building that could offer between 180,000 and 200,000 square feet of Class-A office space.
NORTHWEST PINES SOLD
HOUSTON (globest.com) – Los Angeles–based JRK Asset Management Inc. has sold the 364-unit Northwest Pines to MNR Inc. of New York City.
Northwest Pines, which sits on more than 11.5 acres at 5801 N. Houston Rosslyn Rd., has one- and two-bedroom units. Rents range from $435 to $625 per month. The Class-B, 27-year-old complex was 94 percent occupied at closing.
The sales price was within 90 percent of JRK’s $11.4 million asking price and had a 8.5 percent cap rate.
Cushman & Wakefield represented the seller, while MNR was self-represented. Asset Plus Corp. of Houston will manage the property.
FOUR NEW TENANTS FOR IDI
DALLAS (globest.com) – Four tenants have signed leases totaling 280,000 square feet of distribution space at area properties owned by Atlanta-based IDI.
IDI represented itself in all four leases, and it also represented Harvel Plastics. NAI Huff Partners represented Contractors Wire and Cable, NAI Robert Lynn Co. represented the Merit Group and the Staubach Co. represented Jupiter Logistics.
IMPROVEMENTS AT PIONEER PARKWAY
GRAND PRAIRIE (costar.com) – The PPA Group has paid $6.1 million for 334 apartment units at 145 Pioneer Pkwy.
The buyer plans to spend about $360,000 to improve some of the amenities and restore the building exteriors.
CB Richard Ellis represented seller Thurman Skillman Woods.
APARTMENTS UNDERGO CONDO CONVERSION
AUSTIN (Austin Business Journal) – Windsong Apartments and Parkside Apartments, which were recently purchased by two different buyers, will be converted into condominiums.
The Sutton Co. purchased the 52-unit Windsong at 2703 Swisher Street, while an unnamed local investor picked up the 18-unit Parkside at 4209 Burnet Road.
Transwestern's Central Texas Multifamily Group represented the sellers.
RIVER PLAZA REDO
FORT WORTH (globest.com) – Trademark Property Co. is developing a $100 million mixed-use project on the banks of the Trinity River.
The River Plaza project, a joint venture of Trademark and RP Partners, will include the complete makeover of a 140,000-square-foot office building at 1701 River Run, the purchase of the Silver Fox Steakhouse for a sale-leaseback and expansion, 95,000 square feet of new specialty retail along University Drive, and a 135-room hotel.
The almost seven-acre site includes 600 feet of frontage along University Drive and another 600 feet along the Trinity River.
Trademark officials say construction will get under way before the end of the year. The first phase will be completed in 2009, while the second, including the hotel, will wrap up in 2010.
POST OAK PLAZA TO FRESHEN UP
HOUSTON (globest.com) – A $38 million renovation of the more than 129,000-square-foot Post Oak Plaza began yesterday, marking the first upgrade for the 40-year-old shopping center.
Improvements to the property at 1751 Post Oak Blvd., near the Galleria, will focus largely on the façade, landscaping and parking lots. The work will take 12 to 18 months to complete.
The center is 85 percent occupied. Major tenants include Linens 'n Things, Whole Earth Provision Co., the Arrangement, Pinto Ranch and Luby's.
Financing was arranged by NorthMarq Capital Inc.'s Houston office. Mony Life Insurance Co. in New York City provided the funding.
SEA GUN A GO
ROCKPORT (Corpus Christi Caller-Times) – A joint-venture partnership is developing a $75 million project on the Lamar Peninsula that will bring luxury town homes, waterfront condominiums and a new marina to Aransas County.
The project will redevelop about 22 acres, including the old Sea Gun Sports Inn property. Plans include creating a private gated enclave with 15 waterfront lots for single-family homes, 50 townhomes with individual boat slips, 100 condominium units, a 165-slip marina and harbormaster building.
The Sea Gun project, which will likely be completed in three to five years, is a joint venture between Brett Bohn of Houston-based Lakeland Development Company and current property owners David Pilgrim and Alan Latham of Aransas Bay Interest.
KEMPWOOD SERVICE CENTER PURCHASED
HOUSTON (Houston Chronicle) – Colette Farms has purchased the Kempwood Tech Center, a more than 113,000-square-foot flex service center on 7.2 acres at 2704-2778 Bingle.
Holliday Fenoglio Fowler represented seller Midway Cos. NewQuest Properties represented Colette Farms.
MARRIOTT MOVING INTO VILLAGE
ALLEN (The Dallas Morning News) – A 225-room hotel will be part of the Village at Allen, a 181-acre mixed-use development at the southeast corner of Central Expressway and Stacey Road.
Construction on the ten-story Courtyard by Marriott hotel will begin this fall and be completed in spring 2009.
The developer is John Q. Hammons of Missouri.
PARADISE FOUND
CORPUS CHRISTI (globest.com) – Post Investment Group LLC has paid $23.5 million for the 783-unit Paradise Bay Apartments.
The California-based real estate company plans to invest $2 million in upgrading the Class-B complex at 5901 Weber Rd.
Paradise Bay was built in two phases between 1973 and 1980. It has a mix of efficiencies and one-, two- and three-bedroom units. Sizes range from 500 to 1,200 square feet. Monthly rents are $475 to $1,100.
Post Investment’s goal is to have $100 million in multifamily properties nationwide by the end of the year, with 80 percent of the activity in Texas.
Hendricks & Partners’ Houston office represented seller Paradise Bay Apartments LP, while Post Investment was self-represented. New York City–based Credit Suisse Inc. financed $21.5 million of the debt. The remainder was provided by private equity sources.
TWO MAJOR HOUSTON-AREA CORPORATIONS RELOCATING TO THE WOODLANDS - US Oncology, service provider to one of the nation's largest cancer treatment and research networks, will relocate to a new 200,000-square-foot, eight-story building in The Woodlands Town Center. Their corporate campus will be linked to Waterway Square by a pedestrian corridor providing easy access and views of The Woodlands Waterway®. The new building (a rendering of which is pictured here) is expected to open its doors to employees in early 2009. Approximately 500 employees are expected to relocate to the new campus. 
CREATION OF "KOI GARDEN" TO BEGIN IN AUGUST ON THE WOODLANDS WATERWAY® - The addition of "Koi Garden" (rendering shown), an Asian-inspired garden and koi pond to be created on and around two existing, "tear-drop" shaped islands in The Woodlands Waterway®, will soon be another significant attraction in The Woodlands Town Center, according to Alex Sutton, president of The Woodlands Development Company. 
THE WOODLANDS 2007 CELEBRATION OF EXCELLENCE GALA'S ENTERTAINING AND INSPIRING PROGRAM ANNOUNCED - "A Hero's Journey" perfectly describes this year's The Woodlands Celebration of Excellence Gala honoring the 2007 Hometown Heroes. One of Newsweek Magazine's "America's Unsung Heroes" Tom Whittaker (top photograph) will present the entertaining and inspirational keynote speech and news anchor Art Rascon (bottom photograph) from KTRK-TV 13 Eyewitness News, the Houston affiliate of ABC, has agreed to serve as master of ceremonies. Whittaker is the first person with a disability to climb to the summit of Mount Everest. 
THE CYNTHIA WOODS MITCHELL PAVILION NAMES NEW DIRECTOR OF SALES, SPONSORSHIPS AND PREMIUM SALES - Jeff Young, vice president of operations for The Center for the Performing Arts at The Woodlands, home of The Cynthia Woods Mitchell Pavilion, has named JD Villaseñor (pictured) as the new director of sales, sponsorships and premium seats for the organization. Villaseñor, who has been the director of premium seat sales for The Center for two years, will continue his role of selling and managing the season seat program and now be responsible for securing sponsors for the Live Nation events at The Pavilion. 
AND SPEAKING OF THE PAVILION - To mark the first time ZZ Top performed at The Cynthia Woods Mitchell Pavilion, members of the band posed with Jeff Young, vice president of operations for The Center for the Performing Arts at The Woodlands, home of The Pavilion; Jerry MacDonald, president and CEO of The Pavilion; and Bob Roux with Live Nation, prior to the sold-out July 14th concert. 
GREAT OPPORTUNITIES AVAILABLE IN CARLTON WOODS CREEKSIDE - Within the Village of Creekside Park is the private, gated enclave of Carlton Woods Creekside, the 500-acre expansion of Carlton Woods. At Carlton Woods Creekside, new properties have recently been released, including a great mix of homesites ranging from ¼-acre patio home sites to 2-acre estate properties. With prices from the low $200s to over $1.8 million, there are opportunities for a wide range of customers. Approximately half of the released inventory has already been purchased in Carlton Woods Creekside. 
THE CYNTHIA WOODS MITCHELL PAVILION RANKS #1 IN THE WORLD - According to the July 23, 2007 edition of Pollstar magazine, the concert industry's leading trade publication, The Cynthia Woods Mitchell Pavilion in The Woodlands ranked first in its listing of top 50 amphitheatres in the world based on the number of tickets sold during the first six months of 2007. The Pavilion's ticket sales totaled 106,723 for shows played between January 1 and June 30, 2007. 
MONTGOMERY COUNTY YMCAs JOIN HOUSTON'S LARGEST-EVER SCHOOL SUPPLY DRIVE - For the third consecutive year, "YMCA Operation Backpack" joins the forces of 38 YMCAs, local churches and other partners to touch the lives of tens of thousands of Houston area children and families this school year. Thousands of school supplies will be collected for children who might otherwise go back to school unprepared. "Too many parents don't have the money to buy the supplies kids need to start the school year off right," said Mark Cochran, South Montgomery County YMCA Center executive director. 
9TH ANNUAL CURE PH GOLF TOURNAMENT EXCEEDS ITS GOAL - The 9th Annual Cure PH Golf Tournament recently raised more than $120,000 to help find a cure for pulmonary hypertension (PH). The event helps raise money each year for PH research. One hundred percent of the event proceeds are distributed to help fund national research of the disease to discover better treatments and find a cure. Pictured at the recent tournament are (from left to right): Bruce Tough, Marcia Stibbs, Kevin Brady, Jack Stibbs, Vicki Fullerton and Matacha Saul. 
THE WOODLANDS LIONS CLUB CELEBRATES 25TH ANNIVERSARY WITH DONATION - In celebration of its 25th year, The Woodlands Lions Club awarded $2,500 to local charities. This anniversary contribution is above and beyond the thousands of dollars that the group donates every year to their designated charities. As a special recognition to each of the club members for their efforts, each member was asked to nominate their charity of choice. Each charity was presented with a check for $100 along with a framed certificate of appreciation signed by all The Woodlands Lions Club members at a recent member luncheon held at The Woodlands Waterway Marriott Hotel. Pictured is Nelda Blair accepting the check and framed certificate for the Conroe Education Foundation, presented by Lion president Larry Smith. 
FOUNDING LION ED JONES ALSO HONORED - In conjunction with The Woodlands Lions Club's 25th Anniversary, founding member Lion Ed Jones was also honored by the club. Jones was one of the original 34 members that joined together to form a local chapter for the international service club. Through the years, Jones has participated in the club at every level including president. Noted for his personal slogan, "Just happy to be here," he was presented with an engraved gavel with the words, "Just happy to be in The Lions for 25 years," at a recent club dinner. 
WINNERS OF 2007 FIRECRACKER ESSAY CONTEST ANNOUNCED - The winners have been announced and prizes awarded to the winning young essayists in the 2007 Firecracker Essay Contest. Participants wrote essays about why they celebrate the 4th of July. The contest was sponsored by Capital One and Town Center Improvement District (TCID). Pictured are (from left to right): Sara Shack, 4th grade; Sarah Marsh, 1st grade; Ryan O'Shaughnessy, Capital One Sterling Ridge; Grand Prize winner Allison McManus, 6th grade; Dylan Corder, 10th grade; Jennifer Bryan and Summer Sanford, Capital One Research Forest. Not pictured are Madison Martinec, 12th grade and Jackson Wright, 4th grade. The Grand Prize was a $1,000 deposit in a minor savings account provided by Capital One, a $100 gift card to The Woodlands Mall, Cinemark movie passes, and four tickets to Splash Town. 
TAMMY KOPPA JOINS FIDELITY NATIONAL TITLE INSURANCE COMPANY - Gladys Sumner, branch manager/assistant vice president of Fidelity National Title Insurance Company has announced that Tammy Koppa has joined the team as marketing representative. She will be responsible for promoting the company's title insurance and real estate related products and services to clients throughout Montgomery County. "With over 10 years of successful sales experience, Tammy's knowledge of the industry will be a great asset to our team and our clients," said Sumner. "We hope that the community will take an opportunity to welcome her during our Fidelity National Title Insurance Company Welcoming Reception and Chamber Ribbon Cutting on Thursday, August 9. Pictured (left) is Koppa, and (right) is Sumner.
