Middle Market Digest: This Week in the South and Mountain Regions

According to the latest Marcus & Millichap research brief, employment momentum and accelerating wages support the outlook for positive real estate performance. The employment market consistently signaled steady economic growth last year despite numerous unanticipated events that could have upended the expansion. Nationally, 2.2 million jobs were created during 2016, with unemployment dropping to its lowest level since 2007. The economy has generated 75 straight months of positive growth, the longest on record.—Lisa Brown

NEWS AND NOTABLES

 DENVER—Savills Studley, the leading commercial real estate services firm specializing in tenant representation, announces that executive vice president, director and central region lead, Rick Schuham, will oversee the brokerage operations and management of the company's Denver office. Industry veterans Todd Roebken and Greg Bante, executive managing directors who recently joined Savills Studley from JLL, will lead the charge alongside Schuham.

HOUSTON—Matthew Kent has been named chief operating officer of Unilev Management Corp., a Houston-based, commercial real estate owner with 4.7 million square feet of office and retail space in Houston and 6 million square feet nationwide. With more than 15 years of property management experience, Kent most recently served as director of property management at Greenway Plaza and Post Oak Central, a 6.2-million-square-foot class-A office portfolio of Cousins Properties.

HOUSTON—The Woodlands Development Company, a wholly owned subsidiary of The Howard Hughes Corporation, will host the annual Arbor Day Celebration in The Woodlands on January 28, 2017 from 10:00 a.m. to 2:00 p.m. at its new location–Hughes Landing on Lake Woodlands. The Woodlands has celebrated Arbor Day for 41 years, making it one of the longest traditions in the community. Since 1977, The Woodlands Development Company has given away more than 1.44 million tree seedlings at Arbor Day. This year, eight different varieties of free tree seedlings will be available. The selection of trees includes Eastern Redbud, Loblolly Pine, Overcup Oak, Pin Oak, Shumard Oak, Sawtooth Oak, Sycamore and Willow Oak.

DEAL TRACKER

AUSTIN, TX—JT Morris Law and MZF Law Firm leased 761 rentable square feet of office space at 610 Brazos. Jason Steinberg with ECR represented the landlord.

EL PASO, TX—Hunt Mortgage Partners LLC provided financing to facilitate the acquisition and moderate rehabilitation of a multifamily property. The total investment was $5.2 million.

HOUSTON—Smartbridge LLC signed a new 10,000-square-foot office lease at One Briarlake Plaza, 2000 W. Sam Houston Parkway. JLL's John Pruitt and Jessica Ochoa represented the landlord, TIER REIT Inc., in the transaction. CBRE's Collin Grimes represented Smartbridge.

HOUSTON—Edifis Group purchased two shopping centers in the New Forest Crossing development located on East Sam Houston Parkway. The shopping centers, 13 miles northeast of Downtown Houston, were built in 2006 and have 100% occupancy. With retailers such as Buffalo Wild Wings residing in one of the largest spaces, the centers span 26,700 square feet across almost 3.5 acres of land.

According to the latest Marcus & Millichap research brief, employment momentum and accelerating wages support the outlook for positive real estate performance. The employment market consistently signaled steady economic growth last year despite numerous unanticipated events that could have upended the expansion. Nationally, 2.2 million jobs were created during 2016, with unemployment dropping to its lowest level since 2007. The economy has generated 75 straight months of positive growth, the longest on record.—Lisa Brown

NEWS AND NOTABLES

 DENVER—Savills Studley, the leading commercial real estate services firm specializing in tenant representation, announces that executive vice president, director and central region lead, Rick Schuham, will oversee the brokerage operations and management of the company's Denver office. Industry veterans Todd Roebken and Greg Bante, executive managing directors who recently joined Savills Studley from JLL, will lead the charge alongside Schuham.

HOUSTON—Matthew Kent has been named chief operating officer of Unilev Management Corp., a Houston-based, commercial real estate owner with 4.7 million square feet of office and retail space in Houston and 6 million square feet nationwide. With more than 15 years of property management experience, Kent most recently served as director of property management at Greenway Plaza and Post Oak Central, a 6.2-million-square-foot class-A office portfolio of Cousins Properties.

HOUSTON—The Woodlands Development Company, a wholly owned subsidiary of The Howard Hughes Corporation, will host the annual Arbor Day Celebration in The Woodlands on January 28, 2017 from 10:00 a.m. to 2:00 p.m. at its new location–Hughes Landing on Lake Woodlands. The Woodlands has celebrated Arbor Day for 41 years, making it one of the longest traditions in the community. Since 1977, The Woodlands Development Company has given away more than 1.44 million tree seedlings at Arbor Day. This year, eight different varieties of free tree seedlings will be available. The selection of trees includes Eastern Redbud, Loblolly Pine, Overcup Oak, Pin Oak, Shumard Oak, Sawtooth Oak, Sycamore and Willow Oak.

DEAL TRACKER

AUSTIN, TX—JT Morris Law and MZF Law Firm leased 761 rentable square feet of office space at 610 Brazos. Jason Steinberg with ECR represented the landlord.

EL PASO, TX—Hunt Mortgage Partners LLC provided financing to facilitate the acquisition and moderate rehabilitation of a multifamily property. The total investment was $5.2 million.

HOUSTON—Smartbridge LLC signed a new 10,000-square-foot office lease at One Briarlake Plaza, 2000 W. Sam Houston Parkway. JLL's John Pruitt and Jessica Ochoa represented the landlord, TIER REIT Inc., in the transaction. CBRE's Collin Grimes represented Smartbridge.

HOUSTON—Edifis Group purchased two shopping centers in the New Forest Crossing development located on East Sam Houston Parkway. The shopping centers, 13 miles northeast of Downtown Houston, were built in 2006 and have 100% occupancy. With retailers such as Buffalo Wild Wings residing in one of the largest spaces, the centers span 26,700 square feet across almost 3.5 acres of land.