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TEXAS LANDOWNERS DOMINATE
TEXAS (San Antonio Express-News) – Twelve of the nation's 100 largest private landowners hail from South or Central Texas, according to the debut issue of The Land Report. Leading the state is the King Ranch.
The King Ranch landed at number five on the magazine's national list with more than 850,000 acres. Briscoe Ranch Inc., owned by two-time Texas Governor Dolph Briscoe Jr. of Uvalde, ranked 12th in the nation, while the heirs of Alice Kleberg East ranked 17th.
And there is more good news for Texas. The Dallas-based magazine reported that 40 of the 100 biggest ranch families have most or all their lands in the Lone Star State.
The common denominator among Texas' great spreads is beef, said Kaare Remme, manager of the 45th-ranked McCoy Remme Ranches of West Texas.
"A third of the beef in the nation comes out of Texas," Remme said. "Livestock production is a big deal."
Topping the national list was CNN founder and former Atlanta Braves owner Ted Turner, owner of two million acres dedicated mostly to bison.
The Land Report's complete list is available online.
2007 MARKET REPORTS AVAILABLE
COLLEGE STATION (Real Estate Center) – The Texas Real Estate Market Reports for 2007 are now available on the Center’s website.
This year’s reports contain information not provided in previous editions, including comparisons of Texas' and Metropolitan Statistical Areas' (MSAs) occupied housing characteristics, statewide annual wages and statewide nonfarm employment growth.
To view reports for any of Texas’ 25 MSAs, go to recenter.tamu.edu/mreports/.
SALES SLOWING, STILL GOOD
AUSTIN (Austin American-Statesman) – Marking the third month in a row of stalled or declining sales, March preowned single-family homes sales totaled 2,343, a 1 percent increase over this time last year, according to the Austin Board of Realtors.
Central Texas is seeing the effects of the collapse of the subprime lending market, which typically involves lending to borrowers with dubious credit histories and not requiring down payments. The subprime shakeout is hitting first-time buyers harder and is contributing to slowing sales in lower price ranges — $180,000 and below.
"The lenders are becoming a little bit more leery about the loans they are making and underwriting," said Jim Gaines, a research economist with the Real Estate Center at Texas A&M University.
Builders are also slowing production, said Eldon Rude, director of the Austin office of Metrostudy.
Agents are still seeing multiple offers in the area’s premium locations. Overall, homes sold in about 65 days, which is a 4 percent decrease from the same month a year ago. The median price rose to $177,080, up 6 percent from a year ago.
Condominium and townhome sales were also flat compared with a year ago. However, the median price increased 14 percent from last year to $170,000.
"Austin is still continuing to be a fairly strong market," Gaines said. "But nothing goes up forever. Eventually you will hit a year when it's not better than the year before."
CLASS-A WINDMILL SOLD
HOUSTON (Holliday Fenoglio Fowler) – Providence Management Company LLC has purchased the 259-unit, Class-A Windmill Landing Apartments.
Windmill Landing, which is on nearly ten acres at 10121 Windmill Lakes Blvd., consists of seven buildings with six one- and two-bedroom floor plans averaging 866 square feet. Renovated in 1995, the complex is currently just over 95 percent leased.
The Houston office of Holliday Fenoglio Fowler LP secured permanent financing on Providence’s behalf, placing a five-year, fixed-rate, interest-only loan with Column Financial, a conduit lender. The loan had an interest rate of less than 6 percent and represented about 87 percent of the total cost of the purchase.
ALLIANCETEXAS'S BUILDING FRENZY
FORT WORTH (globest.com ) – Hillwood Properties will build two million square feet of industrial flex space on speculation at AllianceTexas this year.
"We have staggered it so that every two months we are breaking ground on a new building," said Tony Creme, marketing manager for Hillwood Properties. The six buildings planned are:
Hillwood is handling leasing duties in-house. Hillwood Construction Services is the general contractor. Gromatzky Dupree Associates Inc. of Dallas and RGA Architects of Roanoke, Texas, designed the industrial buildings. HKS Inc.'s Dallas team designed Heritage Commons II.
With the addition of these buildings, AllianceTexas will have over 26 million square feet in the 140-company park. Hillwood co-owns and manages 11.5 million square feet with Newark-based Prudential Real Estate Investors.
NORTHWEST VISTA COLLEGE EXPANDS
SAN ANTONIO (San Antonio Business Journal) – Northwest Vista College has broken ground on a construction project that will add six buildings — about 380,000 square feet of space — to the 137-acre campus.
Two of the new buildings — Live Oak Hall and Juniper Hall — will add 96 classrooms to the campus. The college currently has 80 classrooms, 24 of which are in portable buildings.
"Our first buildings were built in 98 to accommodate about 3,300 students,” said Dr. Debra Morgan, dean and construction liaison for the college. “Today we serve over 13,000 in the space. That's why we have 24 portable classrooms."
The other four buildings are the Palmetto Fine and Performing Arts Center, the Red Bud Library and Learning Resources building, the Cypress Campus Center and a physical plant. Lago Vista, a pond running down the center of the campus, will also be added.
Pending funding, Morgan says the college plans to develop two more academic buildings, a gymnasium facility and a child development center.
The construction is being funded as part of the Alamo Community College District's bond package, which was approved in 2005. The project contractor is Bartlett-Cocke General Contractors.
SKYLINE SELLS FOX HOLLOW
GRAND PRAIRIE (globest.com) – Skyline Properties of Dallas, the 36-year owner-developer of the Fox Hollow Apartments, has sold the complex to Los Angeles investment group Fox Hollow LLC at just over an 8 percent going-in cap rate.
The fully leased 86-unit complex on almost five acres at 1008 S. Belt Line Rd. sold for $33,700 per unit, besting the area’s previous per-unit record by roughly $2,000.
Renovations are planned for the interiors and the clubhouse in the 12-building complex, which has two- and three-bedroom apartments. The two-bedroom units are 856 square feet with monthly rent of $735; the three-bedrooms are 1,035 square feet, renting for $835 per month.
Hendricks & Partners in Dallas represented the seller. Devonshire Real Estate & Asset Management Group of Dallas will manage the complex.
BARCLAYS' GLOBAL PURCHASE
AMSTERDAM (globest.com) – London-based Barclays PLC has reached an agreement to buy ABN Amro Holding NV for just over $91 billion. Under the agreement, ABN Amro will sell its Chicago-based LaSalle Bank to Bank of America Corp. for $21 billion in cash.
The merged company, to be called Barclays PLC, will be based in Amsterdam but remain a British “tax resident.” The sale of LaSalle to Bank of America requires U.S. regulators' approval and is a condition of the Barclays-ABN merger.
The merger, also subject to U.S. regulator approval, is expected to be completed by year’s end. When complete, Barclays PLC will be the largest institutional asset management firm and one of the world’s top five banks, with about 47 million customers.
NEW HUB FOR OLD DOMINION
DALLAS (Dallas Business Journal) – A North Carolina–based freight company is building a freight terminal that will dwarf its existing terminal.
Old Dominion Freight Line Inc.’s $20 million, 250-door terminal will sit on 60 acres at 3300 Duncanville Rd., a location that will give the nationwide carrier easy access to North Texas' major roadways, including I-35, I-20 and I-30.
Howard Cornelison, the company’s director of purchasing and real estate, said the new building will be much larger than Old Dominion's existing 146-door terminal at 4356 Singleton Blvd.
The 107,000-square-foot building will include a 12-bay, 46,000-square-foot maintenance shop and office, a 36,400-square-foot dock area and 25,500 square feet of office space. Once completed, it will be expandable by another 150 to 200 doors.
Old Dominion’s Dallas location is only one of the company’s four major hubs. It also has hubs in Atlanta, Pennsylvania and its home state. In addition, the company has six regional terminals.
The general contractor on the new terminal is Schwob Corp.
MARCH WINDS HIT HOME
WASHINGTON (National Association of Realtors) – After rising for three consecutive months, total existing-home sales — including single-family homes, townhomes, condominiums and co-ops — fell from 6.68 million in February to a seasonally adjusted annual rate of 6.12 million units in March, an 8.4 percent drop. This was 11.3 percent less than the 6.9 million-unit level for the same time last year, according to the National Association of Realtors (NAR).
Unusually bad February weather is blamed in part.
“We’ve been expecting a weather ‘hit’ on home sales finalized in March, but looking at overall activity in the first quarter we see that existing home sales averaged 6.41 million, a figure that is moderately higher than the sales pace during the second half of 2006,” said David Lereah, NAR’s chief economist. “We also may be seeing some losses as a result of the subprime fallout. However, this is masking improved fundamentals in the housing market, with lower mortgage interest rates and motivated sellers.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.16 percent in March, down from 6.29 percent in February. The rate was 6.32 percent in March 2006.
The national median existing-home price for all housing types was $217,000 in March, which is 0.3 percent below last year’s median of $217,600. Total housing inventory levels fell 1.6 percent to 3.75 million existing homes for sale, which represents a 7.3-month supply at the current sales pace, up from February’s 6.8-month supply.
Single-family home sales dropped 9.5 percent from February's 5.88 million to a seasonally adjusted annual rate of 5.32 million in March. Sales are 11.9 percent lower than March 2006's more than 6 million-unit level. The median existing single-family home price was $215,300, down 0.9 percent from a year earlier.
Regionally, existing-home sales in the South declined 6.2 percent to an annual sales rate of 2.41 million, 9.7 percent below March 2006. The median price was $180,700, up 0.4 percent from a year ago.
For the complete report, click here.
To read the Real Estate Center’s article on Texas home price trends, click here.
SIMON MAKES OVER MALL
RICHARDSON (The Dallas Morning News) – Demolition of a major portion of Richardson Square Mall will begin early this summer.
Sears and SuperTarget are the only two stores which will remain in place during mall owner Simon Property Group’s redevelopment of the aging retail center at Plano and Belt Line Roads.
Ross Dress for Less, a current mall tenant, will be relocated adjacent to a new 130,000-square-foot Lowe's store, which will open in spring 2008.
ROSS AVENUE HIGH RISE SOLD
DALLAS (globest.com) – Moinian Group and SMA Equities have purchased the 33-story 2100 Ross Ave. from IPC US REIT and PNL Cos. for $73 million.
IPC and PNL bought the almost 844,000-square-foot high rise — previously known as San Jacinto Tower — in late 2004. They put the building under contract last December and waited out the prepayment lockout.
Dan Levitan, managing director of Dallas-based PNL Cos., said securities were bought April 16, one day before the interest rate dropped and four days after the conduit loan's lockout provision ended.
2100 Ross Ave. is 76 percent occupied. Among its tenants are Ernst & Young LLP, which has 244,000 square feet leased through June 2009, and CB Richard Ellis, which will continue to lease and manage the building. Jones Lang LaSalle represented the seller, while the buyer was self-represented.
DRAGONS' NEW NEIGHBORS
SOUTHLAKE (globest.com) – Champion Partners will break ground next month on Champion Crossing, a 114,500-square-foot spec office flex next door to Dragon Stadium.
The Class-A project will sit on more than ten acres at the corner of Kimball Avenue and Continental Boulevard. Its six single-story buildings will range from 13,000 to 29,000 square feet and be designed to finish out as 100 percent office space or with grade-level loading areas in the rear. Champion Crossing will be completed toward the end of the year.
Glacier Commercial Realty LP in Dallas represented Champion, while independent Dallas broker Bruce Hursh represented the sellers, two private investors.
Halbach-Dietz Architects Inc. of Dallas designed Champion Crossing. Glacier will handle preleasing.
DEMAND FOR OFFICE SPACE SLOWING
SAN ANTONIO (San Antonio Express-News) – Demand for office space continued to grow in first quarter 2007, albeit at a slower pace than last year.
According to locally based NAI REOC Partners, which tracks the city's commercial real estate markets, the market absorbed almost 22,400 square feet of office space in the first quarter, compared with a quarterly average of 138,000 square feet for the past three years. The market had one of its best years on record last year, absorbing more than 800,000 square feet of office space.
More than 500,000 square feet of new office space is expected to come online this year. Last year, more than 730,000 square feet of new office space came into the market.
Several big office buildings are expected to open soon, including the 97,490-square-foot La Arcata, the 84,000-square-foot Heritage Oaks at Inwood I and 131,000-square-foot Union Square II.
The citywide vacancy rate of 14.4 percent in the first quarter was down from 15.8 percent in the first three months of 2006, and average rents increased 34 cents from the end of last year to $18.89 per square foot.
San Antonio has almost 24 million square feet of office space now, compared with 23.1 million at this time last year.
TEXANS TO HIT THE SLOPES
DALLAS–FORT WORTH (Business Wire) – Midway between the Dallas–Fort Worth and Meacham international airports, Bearfire Resorts LLC plans to bring winter skiing year-round.
Bearfire Resort will use 'Snowflex,' a virtual ski surface technology created by Briton Engineering in the U.K. When complete, Bearfire Resort will be six times larger than existing Snowflex facilities.
Along with a 600-room hotel and a convention center, features will include an outdoor ski and snowboard mountain with ski runs, ski lifts, competition half-pipes, toboggans, snow tubing and ski caves. This man-made mountain range is expected to rank among the world’s largest buildings.
Greg Damron Design developed the resort’s master plan. McGillivray Consulting Group (MCG) will be the project manager. The Jacobson Group of Management Solutions Inc. (MSI) will oversee financing. Baker Leisure Group, the company behind Al Shallal, the largest theme park in the Middle East, will provide the project’s operational consulting and management.
The Dallas-based Bearfire Resorts LLC project team includes Utah’s Park City Olympic Parks Director Rex Dabling and former House Majority Leader Dick Armey.
FAMILY TRUST BUYS LODGE
SAN ANTONIO (San Antonio Business Journal) – The Lodge at Shavano Park, a 322-unit apartment complex near the South Texas Medical Center and USAA, has been sold to Frankel Family Trust of California.
Built in 2001, the complex is currently 93 percent occupied.
Apartment Realty Advisors, a multifamily brokerage and investment advisory firm, represented the seller, KC Ventures of Kansas City.
PLOWING THE NORTH 40
FRISCO (globest.com) – White Rock Capital Inc., the real estate arm of T&M Management Services, has purchased just over 44 acres at the far northern edge of the Dallas North Tollway and US 380.
The Dallas-based developer paid $9.65 million to a local farmer. Tentative development plans are for residential, retail and office space.
Chicago-based ORIX Real Estate Capital Inc. has financed $7.6 million, which will be used for purchasing the land, as well as for the predevelopment and holding costs. The 65 percent loan-to-cost financing is for a two-year term with a one-year extension option at a floating-rate interest exceeding 300 basis points above Libor.
ORIX's Dallas office arranged the financing. Holliday Fenoglio Fowler LP's Dallas office was the mortgage broker.
LAND TURNS TO GOLD
FRISCO (globest.com) – A 23-acre listing with all utilities in place, including waterlines, has been sold for $5.50 per square foot ($239,580 per acre), a record for the city.
The multifamily-zoned land, which is entitled for up to 368 units, features 450 feet of frontage along El Dorado Parkway and lies a half-block from the Dallas North Tollway extension.
Cushman & Wakefield of Texas Inc. represented the seller, a local private investor, in the off-market transaction. The contract is set to close within 90 days.
INLAND LANDING ALEXAN
WEBSTER (globest.com) – Alexan Landing Apartments in the city's Bay Area has been purchased by Inland American Webster Clear Lake LP of Illinois.
The one-year-old, 92 percent leased, 364-unit complex is in the Trammell Crow Residential development at 501 N. Sarah Deel Dr. The average unit is 932 square feet with rents ranging from $796 to $1,274 before concessions.
This is Inland’s second area purchase. Earlier this year the firm spent $64 million for the 296-unit Waterford Place at Shadow Creek Apartments at 200 Business Center Dr.
CB Richard Ellis Inc. represented Clear Lake Apartments LP. Inland American Webster was self-represented.
VILLAGE GETS A TASTE OF EUROPE
PLANO (The Weitzman Group) – Cencor Realty Services, in a venture with the Haggard family, will break ground toward the end of the year on West Plano Village, a 175,000-square-foot mixed-use development anchored by eatZi’s Market & Bakery.
West Plano Village, which will be built on 15 acres at the northeast corner of Parker Road and the Dallas North Tollway, will be designed to complement the nearby Cinemark Tinseltown, a 20-screen flagship theater.
The 12,000-square-foot eatZi’s, a European market–style eatery, will open in 2009, around the same time construction wraps on the Village.
The Weitzman Group represented West Plano Village Ltd, while eatZis’ was represented by ReMax Premier Properties Commercial. The architect for West Plano Village is Hodges & Associates. Leasing will be handled by Cencor’s sister company, The Weitzman Group.
FIRST SELLS TWO
HOUSTON (globest.com) – In two unrelated transactions, First Industrial Realty Trust has sold almost 456,000 square feet of 100 percent leased industrial space in the northwest area.
Beeson-Sirota JV, a local buyer, has purchased a 1980s-era, more than 176,000-square-foot, rail-served warehouse at 1415 W. Loop North, which is leased to Dimare Fresh Inc.
Mir Azizi, also locally based, purchased the 32-year-old, more than 279,000-square-foot warehouse at 3480-84 W. 11th St. According to a marketing brochure, the multitenant facility is leased to the Premier Co., Drake Container, Lindsey's Office Furniture and Morrison Supply Co.
Grubb & Ellis Co.'s Houston office represented the Chicago-based seller.
RESIDENTIAL HOME MARKET UP
AUSTIN (Austin Board of Realtors) – A total of 2,343 existing single-family homes were sold last month. The almost $570 million in sales represented a 6 percent increase in total monthly revenue from March 2006.
The median price for single-family homes was just over $177,000, a 6 percent increase over last year's price. March homes spent an average of 65 days on the market, a 4 percent decrease from a year ago.
Townhouse and condominium sales collected close to $60 million for the local economy, a 19 percent increase from last year. The median price also rose 14 percent from a year ago to $170,000.
AUSTIN APARTMENT OCCUPANCY RISES
AUSTIN (Austin Business Journal) – Apartment occupancy was at 93.7 percent at the end of 2006, and it is expected to reach 95 percent by the end of 2007. Occupancy in both Dallas and San Antonio held at 89.4 percent, while Houston was at 88.1 percent.
Rents in Austin rose to 91 cents per square foot in 2006, up 7 percent from 85 cents in 2005. Rents were driven by increasing demand and a tightening of supply, according to Apartment Realty Advisors' (ARA) Texas Multifamily Report.
Rents in San Antonio and Houston stand at about 77 cents, and Dallas is holding at 82 cents.
The north and northwest Austin areas absorbed the most units at 873, followed by south Austin with 474. The most proposed units are also in the north with 2,879, followed by central Austin with 1,590. According to ARA, the Austin market currently has 140,400 apartments.
HUNTER GOBBLING UP LAND
PROSPER (globest.com) – Hunter Equities LLC, a Dallas-based investment group, has purchased almost 81 acres of mixed-use, entitled land at the northeast corner of La Cima Boulevard and US 380.
Also bordered by Prosper Commons Boulevard, the land has a six-tenths mile of US 380 frontage. All utilities and zoning are in place. Buildout could be as much as 800,000 square feet for retail, office or mixed-use space.
Davidson Real Estate Co. in Prosper represented the seller, which owned the land through an investment partnership between Prosper Hillcrest 60 Ltd. and Frisco Tollway Partners Ltd. Dallas-based Staubach Co. represented Hunter Equities.
In the past 27 months, Hunter Equities has purchased $36 million of land for resale or development.
DROP IN REMODELING SPENDING PREDICTED
CAMBRIDGE, Mass. (Joint Center for Housing Studies) – According to the new Leading Indicator for Remodeling Activity (LIRA) developed by Harvard’s Joint Center for Housing Studies, home improvement spending by homeowners in 2007 is projected to increase by 3.6 percent, which is down from 11.1 percent last year.
However, Dr. Mark Dotzour, chief economist with the Real Estate Center at Texas A&M University, does not anticipate a significant drop in how much Texans will spend on remodeling this year.
“So far, the biggest blow to the Texas residential sales market has been isolated to the new home market, particularly houses valued at less than $200,000,” Dotzour said. “I don't think this segment of homebuyers spends a lot of money on remodeling. To the extent that the housing sales weakness stays focused in the new home market, I would expect Texas remodeling to continue to have strength.”
TRI-COUNTY II NEARING COMPLETION
SCHERTZ (costar.com) – Cross & Co. is set to complete the almost 140,000-square-foot Tri-County II distribution center this summer.
The center is at 976 Associate Drive, on I-35. The industrial park has Foreign Trade Zone status and also qualifies for the Freeport exemption.
Cross & Co. is handling leasing. PSRBB is the architect.
SOCCER COMPLEX COMING TO THE VALLEY
HARLINGEN (Valley Morning Star) – The city is preparing to pay $7.5 million for a soccer complex that will include 14 fields, a concession building, restrooms, ponds, a maintenance building and parking lots.
The first phase of the complex, which includes ten of the 14 fields, will cost about $5 million. Phase two will include the four remaining fields and cost about $2.5 million. Certificates of obligation will pay for $4.5 million of the project.
The complex is being designed by engineering and architectural firm Halff Associates.
CAPITAL CITY INDUSTRIAL OCCUPANCY UP
AUSTIN (Austin Business Journal) – Industrial warehouse and flex markets improved slightly in the first quarter, according to a report from TIG Real Estate Services.
Vacancy in the warehouse sector fell 1.2 percent from last year to 11.7 percent. In the flex market, vacancies fell 2.1 percent to 19.2 percent.
The warehouse vacancy drop occurred despite overall negative absorption of 211,134 square feet, which is largely due to a recently vacated 230,000-square-foot manufacturing building in the southeast.
Warehouse average net rent rose 14 cents per square foot (psf) during the quarter to $6.15 psf. Total marketwide inventory stands at 28.6 million square feet with about 1.1 million square feet under construction.
The flex market absorbed 176,463 square feet, led by gains in the southeast. Rents rose 20 cents to $8.40 psf. Roughly 14.3 million square feet of flex inventory stands available marketwide, with 576,559 square feet under construction.
"There are quite a bit of initial inquiries for large blocks of space from 25,000 to 75,000 square feet," says David Alsmeyer, principal with TIG Real Estate.
D-FW OFFICE LEASING DROPS
DALLAS–FORT WORTH (Grubbs & Ellis) – The Dallas–Fort Worth office leasing market registered almost 571,000 square feet of positive net absorption in first quarter 2007, down from 1.3 million square feet recorded during the same time in 2006.
Unlike March 2006, which saw 87 percent of the growth in the Class-A sector, the majority of the absorption this quarter occurred in Class-B space. Leasing demand for Class-B space dramatically increased to 535,400 square feet, up more than 325,000 square feet from March 2006.
Overall office vacancy remained level at 19.8 percent at the end of March, an improvement of 1.9 percentage points from the same time last year.
Growing demand for Class-B space in recent months led to over 500,000 square feet of gains in first quarter 2007, and a drop of 2.2 percentage points in vacancy over the last twelve months to end the quarter at 22.7 percent. Meanwhile, vacancy for Class-A space stood at 17.1 percent at the end of March, down 1.9 percentage points from early 2006.
Overall average asking rents for the first quarter were at $20.82 full-service gross per square foot per year (FSG/PSF/YR), up 70 cents from year-end 2006 and $1.58 higher than last year at the same time. Average asking rents for Class-A space jumped by 67 cents to $23.89 FSG/PSF/YR. Class-B rents were at $17.70 FSG/PSF/YR, an increase of 71 cents.
HOLLYWOOD: TRAVIS COUNTY STYLE
AUSTIN (globest.com) – With the goal of making Central Texas the next Hollywood, phase one of the $1.5 billion, 681-acre, mixed-use Villa Muse will break ground by summer in the Texas 130 corridor of eastern Travis County.
The first phase will consist of the 200-acre, $125 million Villa Muse Studios, which will include a 50,000-square-foot soundstage, recording studios, a scoring stage and a 70,000-seat amphitheater. The studios are expected to be completed by the end of 2008.
Villa Muse Inc. is partnering with Carpenter & Associates Inc. of Austin, which sold the land and will oversee construction and site work. Project designers are locally based Land Design Studio, Steve Durr Designs in Nashville; Studio Bau:ton in California; and Sam Toyoshima, Acoustics Design Office, a division of JVC Audio Engineering Research Center.
RIATA VISTA PLANNED
AUSTIN (Austin Business Journal) – Riata Vista Business Park will be built on about 36 acres southwest of the intersection of West Parmer Lane and Riata Vista Circle.
The $121 million, 600,000-square-foot office-and-retail project is a joint venture between Chicago-based McShane Corp. and MetLife Real Estate Investments of New York, which had purchased the site from Sun Microsystems Inc. last year.
The development’s first phase will feature a 140,000-square-foot speculative office building. At buildout, the project will total about 560,000 square feet of office and roughly 40,000 square feet of retail space.
Austin-based Studio 8 Architects designed the park, and Cunningham/Allen Inc. is providing engineering services. Construction will be handled in-house by McShane. Aquila Commercial in Austin will handle leasing duties.
Phase one should break ground late this summer and take a year to complete.
MAKING WAY FOR MIXED-USE
NASSAU BAY (Houston Chronicle; bayareahouston.com) – Griffin Partners plans to demolish 12 low-rise office buildings on 27 acres near the Johnson Space Center to build a $150 million mixed-use project.
This will be the first development project of this scale for the Houston commercial real estate firm. Plans include a 200-room hotel, up to 100,000 square feet of retail space, at least 300,000 square feet of office space and some 300 apartments.
Demolition will begin at year’s end when all leases expire on the 50 percent occupied buildings, which total more than 437,000 square feet. Built approximately 40 years ago, five of the buildings were completely empty, with two of those vacant since 1985.
Cushman & Wakefield represented the seller, Nassau Development.
To read a Tierra Grande article about Bay Area Houston, one of the area's best-kept secrets, click here.
CAMDEN BUYS CLASS-A CONGRESS
AUSTIN (Toby Stark Public Relations LLC) – Houston-based Camden has purchased a Class-A multifamily complex in the downtown area from Creekstone Partners.
The 253-unit 1007 S. Congress property has one-, two- and three-bedroom units ranging from 579 to 1,527 square feet. The units have ceramic tile entries, wood plank flooring, gourmet kitchens and walk-in closets. In addition, the complex has 7,433 square feet of street-level retail.
Creekstone Partners, which purchased the property in 2005, is a division of Creekstone Companies. Both are based in Houston.
TANGLEWOOD WEST SOLD
AUSTIN (Houston Income Properties Inc.) – A private investor and condo converter has purchased Tanglewood West in the city’s Tarrytown area.
Built in 1966, the 62-unit complex off Norwalk Lane has units averaging 704 square feet. The average rent is 94 cents per square foot.
The Austin-based buyer paid more than $80,000 per unit at just over a 5 percent cap rate.
Houston Income Properties Inc.'s Austin office represented the seller, also an Austin-based private investor.
FROM BRIDGES TO MARQUIS
HOUSTON (globest.com) – CWS Apartment Homes LLC of Austin has purchased the 270-unit Bridges of Eldridge.
The Class-A property sits on more than eight acres at 2250 Eldridge Rd. The new owner will rename the 92 percent occupied, three-year-old complex Marquis at Eldridge Parkway.
Bridges of Eldridge was developed by Houston-based Dinerstein Cos. and is mostly one- and two-bedroom units with a few three-bedroom apartments averaging 1,059 square feet. Rent averages slightly more than $1 per square foot.
Apartment Realty Advisors' Houston office represented the seller, Los Angeles–based MBS, in the off-market transaction, which tax rolls assess at $20.3 million.
CWS' first local purchase was Pin Oak Green at 5454 Newcastle Dr., which the company bought last summer and renamed Marquis at Bellaire. That complex is about 12 miles from Eldridge Road.
PAST PRESIDENTS MOVING INTO MIXED-USE
PEARLAND (Goswick.com) – Historic Land Development LLC is developing the 50-acre WaterLights District, featuring the Presidential Park at WaterLights.
The mixed-use development on Hwy. 288 at the future South Spectrum Boulevard is slated to open in summer or fall 2008. It will contain department stores, restaurants, hotels, office space and condominiums.
The Presidential Park will be the home of 18-foot statues of all the past U.S. presidents. The statues are the work of Houston-based artist David Adickes, known for his 67-foot statue of Texan legend Sam Houston on I-45 near Huntsville.
REDEVELOPMENT AT LOVERS LANE
DALLAS (The Dallas Morning News) – The apartments at 6044 E. Lovers Lane will soon be torn down to make way for a gated luxury rental community.
The Plaza on Lovers Lane is being developed by real estate investor Behringer Harvard of Addison and Greystar Development and Construction. The complex will contain 155 townhome-like units averaging about 1,350 square feet. Construction on the almost $50 million redevelopment will begin early next year.
The 184 apartments currently on the $5.4 million property were built in 1972.
Behringer Harvard is financing the project and will purchase the complex once it is completed.
UNIVERSITY ICON GETTING MAKEOVER
GEORGETOWN (Austin Business Journal) – A $6 million pledge will be used to pay for an extensive restoration of the Roy and Lillie Cullen Building, one of Southwestern University’s iconic structures.
This is the first major renovation in 30 years for the Cullen building, which was built between 1898 and 1900 and is on the National Register of Historic Places. The building houses classrooms and administrative offices.
As part of the renovation, the building’s many windows will be replaced with energy-efficient versions, fixtures and finishes will be restored, and electrical and mechanical systems will be upgraded. The building will also be updated to meet handicapped-accessibility standards. In addition, a 1,300-square-foot “heritage gallery” will be built on the first floor.
Before the renovation project begins, the school must finish a planned admission building. The admission office is currently on the first floor of the Cullen building.
Group Two Architecture of Austin will spearhead the Cullen project.
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MOCKINGBIRD, HAVE YOU HEARD?
DALLAS (The Dallas Morning News) – New retail and restaurant space will result in an expansion for Mockingbird Station.
Mockingbird Station's owners, a European investment group, are adding about 23,000 square feet of retail space to the seven-year-old development at Mockingbird Lane and North Central Expressway. The expansion will house six to eight new tenants.
A two-story retail building will be built at the north end of the project on what is now surface parking, and a spot on the north central service road has been reserved for a free-standing restaurant. A new two-story parking garage will be built behind the new shops.
Mockingbird Station currently contains 178,000 square feet of retail space, 211 loft-style apartments, 150,000 square feet of office space and an eight-screen Angelika movie theater.
A formal groundbreaking is set for April 26. General manager Sarah Jimenez says they hope to complete the expansion early next year. Capstar Commercial Real Estate Services and United Commercial Realty of Dallas oversee the project.
THERE'S A PLACE FOR US
FRISCO (globest.com) – Cross Development Co. has purchased more than 16 acres from Plano-based Lloyd Investment Co. Ltd. with plans to build a 120,000-square-foot, $24 million specialty center called Preston Place.
Five pad sites are also planned on the acreage, which is at the corner of Preston Road and Hickory Street.
New development nearby includes a Sprout's Farmers Market, Mardel Christian & Educational Supply and Hobby Lobby. The center will also be adjacent to a proposed 200,000-square-foot Wal-Mart Supercenter.
Groundbreaking is scheduled for within six months.
FIDELITY'S MID-SUMMER CONVERGENCE
LEWISVILLE (Market Wire) – Fidelity Investments will lease 160,000 square feet beginning mid-summer at the more than one million-square-foot Convergence office campus at Highway 121 and FM 3040.
Convergence, owned by Brookfield Real Estate Opportunity Fund, is on 185 acres approximately five miles north of Dallas–Fort Worth International Airport.
Brookfield purchased the complex last November and began an extensive capital improvements program. The city is contributing to infrastructure improvements, including new turning lanes into the campus and the addition of a second entrance along Hwy. 121, expected to be completed by early 2008.
Other tenants include Texas Instruments, GMAC Mortgage Corporation, Overhead Door Corporation and Archon Group.
Fidelity was advised by CB Richard Ellis in Dallas and FHO Partners of Boston. CAPSTAR Commercial Real Estate Services, which leases and manages Convergence, represented Brookfield.
ASHFORD'S ACCOMODATING PURCHASE
DALLAS, PLANO (Dallas Business Journal) – Locally based Ashford Hospitality Trust Inc. has completed the $2.4 billion purchase of a 51-hotel portfolio from CNL Hotels and Resorts.
In Dallas, the hotels purchased are Hilton Dallas and the Marriott Suites Market Center. In Plano, Ashford now owns the Marriott Legacy Center, Courtyard Legacy Park and Residence Inn Dallas Plano.
The hotels were purchased in connection with Morgan Stanley Real Estate's $6.6 billion purchase of Florida-based CNL.
WATERSIDE WATERSHED
RICHMOND (globest.com) – Regency Centers Corp. has purchased four additional acres adjacent to its proposed 16-acre Waterside Marketplace development for building a Kroger-anchored shopping center.
Kroger, which will own its almost 103,000-square-foot store, will occupy about 13 acres, leaving about 24,500 square feet of inline space and two out-parcels available. The 127,500-square-foot Waterside Marketplace at the Grand Parkway–Mason Road intersection will break ground by year’s end.
Steven W. Fritzer, Regency's senior management of investments, said the firm had acquired the 16 acres about three years ago and was prepared to build the Kroger-anchored center.
"But then Kroger's prototype expanded substantially from what we were planning on so we had to obtain the four additional acres," said Fritzer.
Read King Commercial Real Estate in Houston is overseeing leasing. CDA Architects of Houston is the architect of record.
FROM HIGHRISES TO HOMESTEADS
SUNNYVALE (The Dallas Morning News) – A company best known for building uptown highrises will begin work next week on its first suburban residential community.
Local developer Harwood International’s 124-acre St. James Park will contain 49 two- to three-acre home sites, with prices starting around $270,000. About seven acres of the development will be set aside for parks and green space.
St. James Park is on Tripp Road north of US 80.
CONSTRUCTION FLURRIES NEAR WATTERS CREEK
ALLEN (The Dallas Morning News) – A flurry of office and retail construction promises to add almost two million square feet of commercial space and bring thousands of jobs and shoppers to the Collin County suburb.
Emerson Partners’ Angel Field Center will have about 166,000 square feet of office space when it opens next year. Set on 15 acres, the eco-friendly stone and glass buildings were designed by award-winning Dallas architects Oglesby Greene. The new office will overlook the Watters Creek mixed-use development.
Meanwhile, developer Duke Realty Corp. is building One Allen Center. The five-story office building is across Bethany Road, also near Watters Creek. The 150,000-square-foot project will open later this year.
"We have coming out of the ground right now about $350 million of office, medical office and retail development," said Jennifer Grimm, marketing director with the Allen Economic Development Corp. "And we have a couple more things in the works that will take that up significantly.”
More information about Watters Creek is available here.
TRUST BUYS GATEWAY
COPPELL (globest.com) – Lexington Realty Trust of New York City has spent about $177 per square foot for the two-story Gateway Office Center on more than seven acres at the Interstate 635–Freeport Parkway junction.
The Class-A Gateway Office Center on 555 Dividend Dr. was built in 2002 by San Francisco–based Catellus Development Corp., which merged in 2005 with ProLogis Real Estate Investment Trust (REIT). The center has two 50,922-square-foot wings connected by an atrium.
Brink's Inc. home security subsidiary occupies 75 percent of the space and is in talks with Lexington to expand its remaining six-year lease. Other tenants include Washington Mutual Bank, which has five years remaining on its lease.
CB Richard Ellis represented ProLogis in the all-cash transaction. The industrial REIT sold the office building because it is a non-core asset.
NURSING THE DREAM
SAN ANTONIO (San Antonio Business Journal) – Skanska USA Building, the New Jersey–based subsidiary of Swedish construction firm Skanska AB, has been awarded the $43.5 million contract to build a new three-story building at St. Philip's College campus.
The new building will house the school's Nursing and Allied Health Career Center, Learning Resource Center and enrollment center. The new building is part of the $450 million community college district bond package approved by voters in November 2005.
St. Philip's College, a member of Alamo Community Colleges, is a historically black college and Hispanic-serving institution serving more than 10,000 students.
Classes are slated to open in fall 2008.
BUSINESS INTERIORS CONSOLIDATES
IRVING (globest.com) – A local wholesaler and retailer of business furniture is rolling two sites into one.
Business Interiors will leave its 132,400-square-foot warehouse at 1101 Valley View Lane and move all operations into the more than 177,000 square feet the company leases at 1111 Valley View Lane.
The consolidation will bring Business Interiors a 5,500-square-foot showroom. The showroom in the vacated warehouse was roughly 1,700 square feet. In addition, the company's 20,000-square-foot headquarters office will be upgraded as part of the repackaged lease.
Staubach Co. of Dallas represented Business Interiors, while CB Richard Ellis' (CBRE) Dallas office represented building owner CLPF-Western Industrial LP. CBRE will handle leasing of the soon-to-be-empty warehouse.
CORRECTION
SAN ANTONIO (Real Estate Center) – In Tuesday's edition of RECON, we incorrectly credited DA Associates as the architect of record for the Vantage at Converse Heights and Vantage at Comal Gardens complexes ("Opportunity Knocks for Affordable Housing"). The correct name of the architecture firm is B&A Architects Inc. of San Antonio.
BECAUSE OF WINN-DIXIE
KELLER (Dallas Business Journal) – Years after Winn-Dixie's mass exodus from the area, Carrollton-based Tabani Group has leased the 85,000-square-foot Keller Crossing shopping center, once anchored by the grocer.
Ace Hardware, Tuesday Morning and a pet store will occupy the Winn-Dixie shell near the intersection of FM 1709 and Keller-Smithfield Road. The developer plans to add another 38,000 square feet of retail space, anchored by Stein Mart.
The city council is considering $290,000 in incentives for the project, including a three-year sales tax rebate and a reduction on building permit fees.
INVESTOR BAGS QUARRY
SAN ANTONIO (San Antonio Business Journal) – The Marquis at Quarry, a 224-unit multifamily property in Alamo Heights, has been sold to Los Angeles–based SCI Real Estate Investments LLC.
The Class-A apartment complex was built in 1994 and is only one of four multifamily communities in the Alamo Heights and Alamo Quarry area, where apartments historically have had occupancy rates exceeding 93 percent.
Apartment Realty Advisors' Austin and Houston offices represented the seller, CWS Apartment Homes LLC of California, in the transaction.
DEVINE INTERVENTION
DEVINE (San Antonio Business Journal) – A San Antonio private investor has purchased Devine Plaza, a 40-unit apartment complex at 100 L.C. Martin Dr.
The seller, also a private investor, is based in Converse.
Hendricks & Partners' San Antonio office negotiated the sale, which was completed in just over 30 days.
ENERGY ENOUGH FOR HALF
LA PORTE (Houston Business Journal) – Wilson Industries Inc., an energy equipment supplier, will consolidate three Houston-area operations into 450,000 square feet at Clay Development & Construction Inc.'s speculative Underwood Distribution Center I.
At 900,000 square feet, the massive distribution center, which will be built in Clay’s 200-acre Underwood Business Park, is big enough to hold 18 football fields. Wilson’s new location will include 50,000 square feet of office space and will ultimately accommodate about 360 office and warehouse personnel.
Colliers International represented Wilson in the transaction, one of the largest-ever leases in one of the biggest industrial structures built on speculation in the Houston area.
David Hudson, vice president of development and leasing in Houston for Duke Realty Corp., can recall larger leases in industrial facilities built specifically for a tenant but not a speculative building.
"In 15 years, I haven't seen a lease that big done in a spec building," he said.
Robert Clay, co-owner of Clay Development, says demand for large distribution space grew in February, when phase one of the Bayport Terminal opened at the Port of Houston to increase the amount of goods being transported through the Bayou City.
SUPERCENTER BRINGING JOBS
LONGVIEW (Longview News-Journal) – The city's newest Wal-Mart SuperCenter will open April 18, creating about 375 jobs.
The 184,000-square-foot store is at 4006 Estes Pkwy., across the street from the new, 13-space Longview Shopping Center.
SOUTHGATE PLUS LAND SOLD
WEATHERFORD (globest.com) – A private investor has purchased the 160-unit Southgate Glen Apartments from a Dallas developer for almost $11 million. The sale included almost 2.5 developable acres.
The eight-year-old, 92 percent leased Southgate Glen is on almost nine acres at 1712 Martin Dr., across from Weatherford College. It includes one-, two- and three-bedroom units averaging 807 square feet. The average rent is 88 cents per square foot.
The California-based buyer, under a tenant-in-common (TIC) arrangement, purchased the Class-A complex using a $5.4 million loan and 1031 exchange funds. The 20-year loan has ten years of interest-only payments at a 5.52 percent fixed-interest rate and 30-year amortization.
Dallas-based Quantum First Capital brokered the sale. Capstone Management Co., also of Dallas, will lease and manage the complex.
For more information about TICs, read "Cotenants: Not So Cozy a Relationship" in the forthcoming issue of Tierra Grande.
HAPPY TRAILS FOR DOMINION COMPLEX
HOUSTON (globest.com) – Equity Residential Properties Trust has sold the 843-unit Trails at Dominion Apartments to Centaurus Investments LLC.
Centaurus, based in San Francisco, has obtained an almost $45 million acquisition-and-rehab loan from California-based ARCS Commercial Mortgage Co. The ten-year loan includes seven years of interest-only payments at a fixed rate of 6.07 percent and a 30-year amortization schedule.
The firm will renovate the 16-year-old, 50-acre, Class-B complex at 200 Dominion Park Dr. The apartments are one-, two- and three-bedrooms ranging from about 550 to 1,486 square feet. Monthly rents currently range from $550 to $1,400.
According to Apartment Realty Advisor principal David Wylie, whose firm represented the Chicago-based REIT, Equity Residential is selling its central U.S. properties to focus its capital elsewhere.
OPPORTUNITY KNOCKS FOR AFFORDABLE HOUSING
SAN ANTONIO (globest.com) – American Opportunity for Housing Inc., in partnership with New Jersey–based Arsenal Real Estate Funds LLC, will spend almost $36 million to build two Central Texas affordable housing projects.
Arsenal is funding the projects with two junior construction loans of more than $10.2 million. Both projects are slated for completion in June 2008.
In San Antonio, construction has begun on the 224-unit Vantage at Converse Heights, an 11.5-acre project at Texas 78 near Sanguin Road.
In New Braunfels, construction is underway on the 228-unit Vantage at Comal Gardens on 11.4 acres along West County Line Road. Both complexes will have one-, two- and three-bedroom units averaging about 860 square feet with an average rent of $816 per month.
The architect of record is DA Associates' San Antonio office. An affiliate of Wood Partners LLC in Houston is the general contractor.
STEADY AS SHE GOES
COLLEGE STATION (Real Estate Center) – The latest revised figures from the Texas Workforce Commission show steady job growth, which is good news for the Texas economy, according to the Real Estate Center’s latest “Monthly Review of the Texas Economy.”
“Texas’ employment growth rate from February 2006 to February 2007 rose to 2.4 percent compared with 1.5 percent for the United States,” reported Real Estate Center Research Economist Dr. Ali Anari.
The state’s seasonally adjusted unemployment rate fell to 4.5 percent in February 2007 from 5.1 percent in February 2006.
Higher oil prices have boosted employment in Texas. The state’s natural resource and mining industry, consisting mainly of oil and natural gas extraction, gained 20,500 jobs from February 2006 to February 2007. This translates to an annual growth rate of 11.7 percent and ranked first in job creation followed by leisure and hospitality industry, professional and business services, construction, and financial activities.
Most new jobs have been created in four major metropolitan areas: Austin–Round Rock, Dallas-Plano-Irving, Houston–Sugar Land–Baytown and San Antonio.
The Midland metro area had the lowest unemployment rate in February 2007, followed by Amarillo, Odessa, Austin–Round Rock and Lubbock.
For more information, see the full report at recenter.tamu.edu/econ/.
MOUNTAIN WEST EXPANDS SOUTHWEST
HOUSTON (mountainwestip.com) – Mountain West Industrial Properties, a Colorado-based real estate developer and investor, has purchased a four-building, almost 93 percent leased portfolio from First Industrial Realty Trust.
Called the Houston Southwest Portfolio, the buildings total more than 337,000 square feet in four projects located at 3727 Greenbriar, 10610 – 10628 Rockley, 10325 – 10415 Landsbury and 8100 Westpark.
Each building is within a business park setting consisting of tiltwall construction and brick facades. Tenants include Tyco Valves & Controls, Puffer Sweiven and Dish Network.
Transwestern will manage and lease the portfolio. CB Richard Ellis Inc. in Houston represented the seller. Mountain West represented themselves in the transaction.
This purchase expands upon Mountain West's current area holdings, which include Kirby Business Center and Beltway Antoine Business Center.
COOPER LIFE EXTENSION
McKINNEY (globest.com) – Wellstone Communities LLC and Dr. Kenneth H. Cooper have bought an additional 140 acres for their Cooper Life development, bringing the planned health-centered concept community to 191 acres. The new land will add another $250 million of mixed-use space to the $900 million development.
Cooper Life will have roughly 250,000 square feet of retail, at least 155,000 square feet of office and medical office space, 225 townhouses or brownstones, a 124-unit condo tower and about 700 single-family homes. Ground will break in two weeks on 18 townhouses.
Located within the 2,500-acre Craig Ranch development, Cooper Life is across the street from the Cooper Institute for Sports Medicine Research and a sports complex anchored by Michael Johnson's Performance Training Center.
For more information about the Craig Ranch development, see the RECON article "Palladium High-rise Coming to 'Burbs."
SEQUOIA/CANONGATE GOLF LLC SIGNS CONTRACT TO PURCHASE THE WOODLANDS' PUBLIC GOLF COURSES AND THE WOODLANDS COUNTRY CLUB - Sequoia/Canongate Golf LLC, owner of 18 private golf clubs and a leader in the Atlanta, GA golf market, has signed a contract to purchase The Woodlands' two public golf courses - The Oaks and Panther Trail - along with The Woodlands Country Club , from The Woodlands Development Company (TWDC), according to Bill Langley CCM, managing director of The Clubs of The Woodlands . 
Recently appointed directors include (left to right): Vicki Richmond, treasurer; Peggy Hausman, vice chairman; Lloyd Matthews, secretary; Nick Wolda , president of the organization and vice president of marketing & public affairs for TCID; Nelda Luce Blair , chairman; Frank Robinson , president of TCID; Karen Hoylman , president of the S outh Montgomery County Woodlands Chamber of Commerce ; and Fred Domenick , general manager of The Woodlands Waterway Marriott Hotel and Convention Center .
ELLIS, ELLIS & BLANCHARD FIRM HOSTS SEMINAR AND HIRES NEW FINANCIAL PLANNER - Byron W. Ellis, CFP®, CLU, ChFC, CRPC, a financial advisor and senior partner of The Woodlands' Ellis, Ellis & Blanchard office of Ameriprise Financial Services will present the "Time Management & Goal Setting" seminar on Friday, April 27, 2007 from 8 am until 10 am at The South Montgomery County Woodlands Chamber offices, located at 1400 Woodloch Forest Drive, Suite 300. The event is free to Chamber members. Ellis will discuss detailed techniques for mastering time management and goal setting. For more information or to reserve a seat, contact The Chamber at 281-367-5777. 
Firm partners Byron Ellis (left) and Barry Ellis (right), CFP®, CRPC, have announced the recent edition of Kiernan A. O'Connor (center), CRPC, as financial planner with the company. 
The Ninth Annual CurePH Golf Tournament will take place on Friday, April 27, 2007 at the Cypresswood Golf Club . The tournament benefits Pulmonary Hypertension (PH), a life-threatening disease. At least 13 of those afflicted with the disease live in Montgomery County including the 14-year old daughter of Jack Stibbs, a resident of The Woodlands and CurePH committee member. 
HEALTH-RELATED SEMINARS
FLOORING AMERICA ANNOUNCES GRAND OPENING EVENT - Flooring America recently opened a new store in The Woodlands Crossing Shopping Center, located at the intersection of Woodlands Parkway and Kuykendahl Road. The Colors of Spring Grand Opening Sales Event is taking place this month. By visiting the store's brand new showroom, guests can register to win up to $10,000 in free flooring and décor advice from a design expert. No purchase is necessary. Shoppers can also take advantage of up to 30% off select styles of Stainmaster, Karastan and Masland carpet and ceramic tile, along with savings on hardwood and laminate floors. The store is open Monday through Friday from 9 am-7 pm, and Saturday from 10 am-5 pm. For more information, visit 
RYAN E. HUIE JOINS STIBBS & CO. ATTORNEYS - Ryan E. Huie , a resident of The Woodlands, recently joined Stibbs & Co., P.C., a legal firm based in The Woodlands. Huie has a business background and will be handling various forms of corporate transactions including contracts, real estate and mergers and acquisitions at Stibbs & Co. "We are excited to add Ryan to the practice," said Jack Stibbs, president and founder of Stibbs & Co., P.C. "He adds a fresh perspective to the field, and we are looking forward to providing our clients with the strength he brings to the firm." Huie earned his Juris Doctor from South Texas College of Law where he was a founding member of Texas Tech Legal Society . He earned his bachelor's degree in public relations with a minor in marketing from Texas Tech University. For more information about Stibbs & Co, call 281-367-2222 or visit 
THE WOODLANDS SWIM TEAM TAKES FIRST PLACE AT TAGS MEET - The Woodlands Swim Team added another Texas Age Group swimming championship banner to its impressive collection with a first place finish at the recent TAGS Short Course Championships in Austin. The team scored a total of 714 points to win the first place banner. Longhorn Aquatics came in second with 670 points and Blue Tide Aquatics took third place with 553 points. The Woodlands Swim Team is a non-profit organization that trains at The Woodlands Athletic Club . For more information, visit 
THE WOODLANDS RESORT EARNS ENDORSEMENTS - The Woodlands Resort & Conference Center, a founding member of the International Association of Conference Centers (IACC), was awarded a 99 percent approval rating during the association's recent on-site quality assurance audit of the property. The 440-room facility features 60,000 square feet of flexible meeting space, including a 13,500-square-foot Grand Ballroom and 32 dedicated meeting rooms. Conducted every four years, the quality assurance audit evaluates conference centers on 30 stringent standards in six key areas, from technology to service. IACC is a non-profit, facilities based organization whose mission is to assist members in providing the most productive meeting facilities around the world. For more information about The Woodlands Resort & Conference Center, visit 
learn how the "Six Conversations" framework, which Hewitt Associates uses to guide its performance management process, can help them seek direction from managers and peers to get their careers on track. 
will also be hosting its Sixth Annual Administrative Professionals' Recognition Breakfast and Vendor Expo on Tuesday, April 24, 2007. Dennis S. Brown , (pictured) a motivational speaker and trainer also known as "Mr. Attitude", will be the guest speaker. For more information, visit 
"LEARNING TO CO-EXIST WITH DEER" IS NEXT WALK IN THE WOODS LECTURE - White-tailed deer are the subject of the Walk in the Woods Nature Lecture on Thursday, April 19, with Lin Poor of Texas Wildlife Management presenting Co-Existing with Deer in the Burbs. The presentation is being held at McCullough Jr. High School, 3800 S. Panther Creek at 7:30 pm. An internationally certified wildlife biologist, Mr. Poor will provide a close-up view of white-tailed deer - their natural history, population characteristics and future in Texas. He will also share tips about enjoying nature, sharing turf with wildlife and deer-proofing landscapes. The free program is sponsored by Community Associations of The Woodlands, The Woodlands G.R.E.E.N. and Courtyard by Marriott . For more information, call 281-210-3900. 
ARE YOU READY FOR SOME BASEBALL? - Listen to the rivalry between The Woodlands High School Highlanders and the College Park High School Cavaliers this weekend on BOB-FM, 105.3 FM and on the web at 
DR. STEVE SUKIN TO DISCUSS FEMALE URINARY INCONTINENCE - Dr. Steve Sukin, M.D., urologist, will discuss the symptoms and current options for treating female urinary incontinence during two free seminars hosted by St. Luke's Community Medical Center (CMC) - The Woodlands on Thursday, April 19 and Tuesday, April 24, 2007 at 6 p.m. in the hospital's Swan Café Lakeview Conference Rooms A & B . The seminar marks the first in a series of educational programs to be hosted by St. Luke's for the local community. Seating is limited, and reservations are encouraged by contacting Marilyn Wachel at 936-266-4009. 
EARTH DAY TO BE CELEBRATED AT THE WOODLANDS MALL WITH SEEDLING GIVEAWAY - On Friday, April 20 beginning at 10 am, while supplies last, The Woodlands Mall will give visitors a fresh spruce seedling to commemorate Earth Day on Sunday, April 22. The giveaway is designed to encourage individuals to reduce their carbon footprints on earth. Along with the seedling giveaway, the mall is using its signage to publicize easy ways to help the environment by adjusting everyday actions. Seedlings will be available at Customer Service in Center Court. 
The Community Associations of The Woodlands will present the 2007 "In the Spotlight" Teen Talent Show on Saturday, June 9 at 7 pm at the College Park High School auditorium. The talent show is the kick-off to Project Youth , a multi-part event dedicated to helping students ages 12-18 develop a healthy and creative lifestyle while uniting the entire community at the same time. The application deadline is Saturday, April 23, with auditions scheduled for Saturday, April 28 from 11 am -10 pm. The auditions will be held at The Woodlands Recreation Center , 5310 Research Forest Drive. The contest is open to ages 13 through 18. All acts are required to audition. 