REDNews September 2012 : Page 37

Austin Offi ce Report Houston First Quarter 2012 -2nd Qtr 2012 Retail Report SOUTHEAST TEX AS Excerpts from NAI Houston 2nd Quarter 2012 Houston Retail Report. Full report at Overview Houston’s retail market ended the 2nd quarter 2012 with an 11.3% vacancy rate. Quoted average rental rates ended the quarter at $18.96 per square foot. Net absorption for the 2nd quarter was positive 394,285 square feet. Ending the 2nd quarter of 2012, a total of 11 buildings delivered to the market totaled 159,231 square feet. Another 1,487,842 square feet was under construction at the end of the quarter. TRENDS: Vacancy Rate include HEB, Wingstop and Maximo’s Pizza. Vintage Dunhill, LLC purchased the 348,000 square foot community center located at 10723 Louetta Rd. Th e center is approximately 40% occupied with tenants that include HEB and some to come Alamo Drafthouse Cinema. FC Marketplace Associates, LP has purchased the First Colony Marketplace, a 112,000 square foot neighborhood center located at 4610 Highway 6. Th e center is approximately 96% occupied with tenants that include Sears Hardware, 99 Cents Only, Smoothie King and Fitness Connection. Net Absorption Karisa Connell Marketing Director NAI Houston Select Sales / Development Wingfi eld Partners, Inc. purchased the 104,000 square foot shopping center located at 10966 Grant Rd. from Weingarten Realty. Th e center is approximately 100% occupied with tenants that include Playa Azul Seafood & Oyster Bar, AlphaGraphics, GNC and FedEx. Weingarten Realty Investors purchased the 36,000 square foot shopping center located at 920 Dairy Ashford St. from Rainer Sunwest Portfolio I, L.P. Th e center is approximately 100% occupied with tenants that Construction Asking Rents RETAIL LEASE BAKER COURT RETAIL CENTER 18,400 SF -LEASE ALL OR PART SEC of Garth Rd & Baker Rd in Baytown, TX NEW OWNERSHIP and 2012 REDEVELOPMENT • 4308 Garth Road, Baytown, Texas 77521 • Baytown’s prominent retail traffi c intersection • Directly across from San Jacinto Methodist Hospital • Remaining corners occupied by a Kroger and Target anchored centers • Lease all or part -Up to 12,300 SF -fi rst fl oor. Additional 6,100 SF of second fl oor-mezzanine level retail/offi ce space available. • 92 parking spaces plus 156 shared parking spaces through crossover agreement with Luby’s. Contact: SITE Chris deZevallos 713.974.1488 Dan D’Acquisto 713.974.1488 9219 Katy Freeway, Suite 120, Houston, Texas 77024 37

Palmas Properties

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