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Madison Marquette Earns Three ICSC MAXI Awards: One Gold, Two Silver

Retail Real Estate Firm Recognized for Marketing Expertise and Professional Excellence

Washington, DC — March 25, 2022 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today announced it has earned three coveted and highly competitive MAXI awards from ICSC during the prestigious Global Awards Ceremony held during the ICSC Las Vegas conference earlier this week. The MAXI Awards recognize innovative events, programs and technologies that add value to the marketplaces industry. Award categories are designed to recognize the evolution of the industry while rewarding creativity and innovation.

“We are incredibly proud to announce that Madison Marquette and its shopping centers have earned one gold and two silver MAXI awards at the recent Global Awards Ceremony in Las Vegas,” says Gavin Farnam, President Retail Services, Madison Marquette. “These awards truly showcase the dedication, collaboration and execution that goes into activating top-quality retail real estate as well as the incredible management, marketing and specialty leasing expertise that led to each win. This year’s MAXI awards were incredibly competitive with 70 finalists and 59 winning entries representing 13 countries around the world, making the stakes especially high and the rewards even more gratifying.”

Winning Entries: 2022

Madison Marquette’s CityPlace Doral earned a gold award in the Experiential category for exemplary work in devising unique activations for vacant spaces. The company’s two silver awards were both in the Revenue category: The “Salud to Summer” entry showcased the creative way CityPlace Doral raised revenue for the center while enticing COVID-weary shoppers back to its retailers, and the Pop-Up & Grow program drew attention to the innovative strategies multiple Madison Marquette centers used to meet revenue forecasts, each participating in a joint program that earned more than $1.2 million. To view the winning entries in their entirety, click here. The winning entries included:

CityPlace Doral: “DORCAM Pop-Up Exhibitions & Fashion Art Design”: Gold Winner (Experiential + <500Ksf)

CityPlace Doral: “Modelo ‘Salud to Summer’ Art Experience”: Silver Winner (Revenue + <500Ksf)

Madison Marquette: “Pop-Up & Grow”: Silver Winner (Revenue)

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family.

Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

 

Media Contact:

Deborah Blackford, Blackford & Associates

[email protected]

714.280.8765

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Madison Highland Live/Work Lofts Announces Plans to Develop Next Generation Live/Work Lofts in Key Metro U.S. Markets

DC area real estate leaders join forces to form a strategic investment and development initiative to transform underperforming office buildings to live/work lofts

Washington, DC — April 7, 2022 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, and Highland Square Holdings, the leading developer of live/work properties in the Washington, DC area, today announced the formation of Madison Highland Live/Work Lofts, a strategic investment and development platform to grow the next generation of live/work loft communities in key urban markets across the United States.

“Our strategy is to provide best in class loft style apartment homes by creating additional office and live/work functionality that enables the customer to decide how best to use the units,” said Madison Marquette Chairman, Amer Hammour. “The change to hybrid work environments, buoyed by technological advances, has altered retail and then office products. To retain and grow value in office buildings, we believe that physical space must provide consumers with the same flexibility, utility and value as cyberspace.”

“Having flexible space that can serve more people in more ways is smart business. By expanding loft uses, we increase the number of people we can serve. The net result is a resilient resource that maximizes market demand and stabilizes revenue across changing markets, at all times,” said Madison Marquette Chief Executive Officer, Vincent Costantini.

Madison Highland Live/Work Lofts creates an entity with a full range of expertise, resources and proven results.

“It was a natural fit to combine our strategic vision, development and construction expertise with Madison’s broad market reach, financial capacity, operations and placemaking DNA,” said Madison Highland Live/Work Lofts Managing Principal, Robert Seldin, who has been at the forefront of this unique strategy. “Working with the Madison Marquette team, we believe the Live/Work strategy and platform will grow more rapidly, and in exciting ways, to better serve consumers and communities.”

In addition to the DC area, Madison Highland Live/Work Lofts is targeting select U.S. markets that have seen high knowledge and information-based job growth drive increases in housing costs. The platform’s initial focus will be in select markets in California, the Southeastern U.S., as well as in New York, Boston, Seattle, Austin, Dallas, Denver, and Salt Lake City.

Seldin said the Live/Work Loft strategy targets prospective residents, small businesses, and the growing market of remote and hybrid workers who are actively seeking better and more flexible housing and office options. The demand is fueled by several factors. The remote work population in the U.S. has soared from eight million in 2017 to 58 million today. He said that traditional apartment competitors are not well suited to accommodate this change.

“There are an additional 85 million U.S. households composed of singles and couples to offer greater value and sense of community as well as the 75% of U.S. businesses with fewer than ten employees for whom the rigidity and cost associated with traditional office leasing is sub optimal,” Seldin added.

Madison Highland Live/Work Lofts recently purchased and is seeking entitlements for two additional vacant Class A- office buildings, Skyline 4 and 5, to convert to Live/Work lofts. At 572,000-square-feet, Skyline 4 and 5 are part of the Skyline Center, the largest contiguous, mixed-use development in the DC area.

Seldin led the successful Mission Lofts project in Falls Church, VA, which is an example of how a property can be transformed to meet changing market conditions. The 173,000 square foot office building was vacant for seven years and had seen its value plummet from $51 million to below $20 million. Three years later, as a now stabilized community of 156 Live/Work Loft style units, its value has risen to a level higher than its former high-water mark as an office only asset. Additionally, it was recently named the Best DC MSA Adaptive Reuse Apartment Community by Delta Associates.

“Mission Lofts was a vacant commercial office building with tall ceilings, big windows, an open floor plan, and ample parking that had outlived its use as a single purpose office structure. From its location at the intersection of two main roads, three miles from the Pentagon, it was a perfect fit for our live/work strategy,” said Seldin. “We gained approval to allow for live/work use in less time than most traditional ground-up zoning actions. At the same time, we helped to establish a new asset category in Fairfax County, VA, which has the second highest median household income county in the United States.”

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family.

Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

 

Media Contact:

Peter Bartelme

[email protected]

415.664.1503

Madison Marquette Releases Inaugural 2021 Holiday Trends Report: Opportunities & Headwinds

Consumer and Retailer Trends Support a Robust Outlook for the Holiday Shopping Season

Washington, DC, November 10, 2021 – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today released its inaugural 2021 Holiday Trends Report: Opportunities & Headwinds, which anticipates record-setting consumer spending, a return to in-store shopping, and retailers scrambling to meet demand.

Madison Marquette’s report combines a range of 2021 forecasts and its own trends analysis to provide an inclusive outlook for the upcoming holiday season. The report highlighted that sales growth of 13% could exceed 1999 levels and how retailers are blurring the lines between digital and in-store shopping to maximize sales.

“Consumer spending momentum and their thirst to celebrate after last year’s lockdowns and missed milestones are driving a bullish retail sales outlook,” said Meghann Martindale, Madison Marquette’s Head of Retail Research.

Martindale also warned of wildcards that could cloud the holiday season outlook. “While retailers’ investments to overcome supply chain threats are likely to increase product prices and could impact overall sales, the 2021 holiday season will be remembered as a return to in-store shopping enhanced by digital discovery and purchasing,” Martindale said.

View the Full Report. Key trends identified in Madison Marquette’s analysis include:

Robust Retail Sales Outlook
According to a variety of forecasts, holiday retail sales are expected to grow 7% to 13%, the latter of which would make this holiday season the strongest since 1999. Consumer spending is expected to shift from last year’s homebody lifestyle purchases of athleisure wear, kitchen, home accessories, and electronics to more discretionary and impulse purchases on apparel, jewelry, handbags, accessories, and luxury items.

Supply Chain Threats to Sales Growth
High consumer demand is fueling an optimistic outlook for the holiday season, but several wildcards threaten retail sales, including persistent supply chain challenges, lack of products, and delivery delays. Challenges have forced retailers to enhance stopgap manufacturing, inventory, and distribution measures to meet consumer demand. However, retailers are hitting sales targets by drastically increasing spending on suppliers, logistics, freight, and labor costs. Retailers are trying to absorb most of the burden, but consumers should expect upward pressure on prices. Product shortages include chips for electronics toys, cotton for apparel, food and household staples, even Christmas trees, and décor. Gift cards and spending on experiences could grow more than expected with limited product availability.

Shopping Early & In-store
Consumers are shopping early to buy products amid uncertain supplies while returning to the in-store experience after an accelerated digital migration during the pandemic. According to Placer.ai, foot traffic at the top 100 U.S. malls and at most of Madison Marquette’s properties were back to 2019 levels by August. Consumers must prepare to pay higher prices, have multiple alternate gift ideas, and anticipate longer delivery windows. To retain customers, retailers will need to prepare their employees to help frustrated customers find what they want. Already, retailers are warning consumers early about the lack of product, earlier ship dates and suggesting substitutions for original gift ideas if they are sold out or unable to fulfill in time.

Digital Discovery: The Hybrid Reality
Digital discovery is key to captivating consumers on the path to purchase across all channels. The in-store experience is now more digitally engaging, while online and mobile shopping has evolved into a more immersive experience that mimics the physical store as much as possible. For the first time, Target kicked off Deal Days in October with offerings online, through the Target App, and at all Target stores, allowing shoppers to save across all channels. Social commerce is also one of the fastest-growing segments of retail. Consumers also are embracing live-streamed fashion shows, using artificial and virtual reality apps to try on cosmetics, apparel and accessories, and using personalized digital stylists for gifting this year.

 

 

About Madison Marquette
Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

Media Contact: Peter Bartelme, [email protected], 415-664-1503

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Madison Marquette Completes Long-Term Lease Renewal for Shell at 1000 Main

 

HOUSTON, November 2, 2021 – The Houston office of Madison Marquette today announced that Shell Oil Company, a subsidiary of Royal Dutch Shell plc (Shell) has signed a long-term lease extension for 259,000 square feet at 1000 Main in downtown Houston. Although the original lease was not due to expire until the end of 2025, Shell took an early decision to renew and will continue to occupy eight floors in the 837,161-square-foot Class A office tower.

Madison Marquette’s Wade Bowlin represented the landlord, Germany-based Union Investment, in the transaction, which marks the largest office lease signed in Houston’s CBD year-to-date. Cushman & Wakefield’s Tim Relyea and Joseph Peddie represented the tenant.

“Shell’s lease extension illustrates a rising trend among tenants for amenity-rich office space as they continue to respond to the COVID-19 pandemic,” says Bowlin, central regional president for Madison Marquette’s property services. “Investing in an amenity package elevates the workday routine and provides onsite access to conveniences that appeal to tenants who are fully or partially returning to the office after 16+ months working from home.”

The 1000 Main property is one of several office buildings and facilities used by Shell in the Houston area and is occupied mainly by the company’s Trading & Supply business in the United States.

In June 2021, the property opened a Gensler-designed amenity center to provide tenants alternative venues to the daily workstation along with a variety of spaces to retreat and refuel. The 12,500 square-foot tenant-exclusive lounge area is equipped with wi-fi and high-end finishes along with restaurant and lounge seating surrounding a barista style coffee station. A state-of-the-art conference center offers flexible options to accommodate up to 144 people with town hall seating, or a three-room configuration for board room and classroom style seating. A separate gaming area features two Top-Golf simulators, a pool table, shuffleboard and multiple TVs for an after-hours spot to watch a game or unplug with colleagues. Additional onsite amenities include a fitness center and training studio complete with automated spin and yoga classes, treadmills, free weights, spa-style locker rooms, towel service and quality personal care amenities.

Built in 2003, 1000 Main is a LEED-Platinum certified, 36-story office tower with approximately 42,470 square feet of retail. Located off Main Street and Lamar along the Metro Rail, 1000 Main is linked to the extensive Downtown Houston tunnel system which offers access to a variety of shops, services and additional dining options.

Photography of 1000 Main’s newly constructed amenity center is available for download here.

 

About Union Investment
Union Investment stands for forward-looking real estate investments worldwide. Our business model is underpinned by 55 years of real estate expertise. With assets under management of around EUR 49 billion, Union Investment is one of Europe’s leading real estate investment managers. The company invests in the office, retail, hospitality, logistics and residential sectors and holds around 440 commercial properties across 23 countries worldwide in its portfolio. In the US and Mexico Union Investment actively manages 34 properties worth a total of EUR 5.4 billion. For additional information, visit https://realestate.union-investment.com

About Madison Marquette
Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

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Madison Marquette Expands Retail Services Leadership with New President and Executive Vice President

Gavin Farnam, President, Retail Services, and Heather Almond, Executive Vice President, Retail Services

WASHINGTON, DC – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today announces the strategic addition of Gavin Farnam, President, and Heather Almond, Executive Vice President, to its national Retail Services team. With more than 37 years of combined real estate experience, Farnam and Almond will enhance connectivity across service lines as the firm invests in expanding its integrated service offerings to meet clients’ diverse business goals.

In these national roles, Farnam will be based in the firm’s San Francisco office and Almond in the Seattle office. The pair will report to Madison Marquette’s Chief Asset Services Officer Drew Genova.

“The addition of Gavin and Heather optimizes our retail practice and allows us to deliver innovative and scalable real estate strategies to our national client base. We are investing in expanding our integrated service offerings, and Gavin’s diverse expertise paired with Heather’s track record of growing NOI are a critical piece of that effort,” said Genova. “Their leadership will create unique synergies between Madison Marquette’s full-service platform and Retail Solutions investment arm, enhancing our ability to capitalize on market opportunities.”

Madison Marquette’s CEO Vince Costantini said, “These strategic hires augment the firm’s growth and scale by adding additional talented resources to an exceptional team of professionals across the country as we work to help our clients navigate through the current market disruption. Gavin and Heather’s leadership will also be integral to the expansion of opportunities in support of our retail and mixed-use joint venture investment practice.”

Farnam is a 17-year commercial real estate veteran that joins Madison Marquette from CBRE where he served as Managing Director and Retail Practice Leader for the firm’s retail property management business in the Americas. Farnam will lead the property management and leasing teams under Madison Marquette’s fully integrated retail platform, and will drive client and business development strategy.

Farnam said, “Madison Marquette has a strong retail brand. I’m excited to couple my owner and third-party service experience to deliver growth and returns to our investors and clients.”

Almond will lead property management and marketing strategy for Madison Marquette’s owned and third-party retail assets. She brings over 20 years of experience from two global leaders in the commercial and shopping center real estate industry. She most recently served as Director of National Retail Marketing at CBRE where she led consumer and property marketing for the firm’s national retail property management platform.

“My passion for creating engaging consumer environments and experiences aligns well with Madison Marquette’s legacy as an innovative placemaker and vision for its properties,” said Almond. “I’m excited to partner with Gavin and the property management and leasing teams to build on the longstanding reputation of Madison Marquette.”

About Madison Marquette
Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

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Madison Marquette Opens The Travis in Houston

The 30-story Luxury Apartment Building Begins Welcoming Residents

HOUSTON, TX — July 8, 2020 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, announced today the opening of the Travis in the Midtown neighborhood of downtown Houston. The Travis is a 375,775 sq. ft. 30- story luxury apartment building featuring one, two and three bedroom apartments and two story penthouses. The apartments sit atop 14,000 Sq. ft. of luxury retail including a restaurant scheduled to open Q1-2021.

Interior features of the Travis apartments include floor-to-ceiling windows in every unit, separate shower and soaking tubs, vanities with custom dressers and walk-in closets, hardwood floors, 10-12 ft. ceilings, and quartz and granite fixtures throughout. The building’s community amenities include an aqua lounge with conference room, heated salt water pool, private cabanas with Bluetooth, fire pits, a grand lawn and 24-hour fitness center. The lobby combines a conference center and 24-hour coffee bar with concierge services, bike storage, package locker service, and on-site valet dry cleaning. A seven-story parking garage with reserved parking is also available for residents.

“We are delighted to introduce The Travis to the Midtown neighborhood of Houston,” said Madison Marquette Principal Rick Kirk. “Our new residences offer Houstonians a best-in-class combination of luxury amenities and design excellence while offering convenient access to local public transit.”

Located in the Midtown neighborhood of downtown Houston, near the six-acre Midtown Park, the Travis features Metro-Rail access with a five minute Northbound access to Downtown and a 10 minute Southbound access to the Texas Medical Center.

For additional information on The Travis, or to schedule a tour, visit www.thetravishouston.com.

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

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Madison Marquette Veteran Honored by ICSC

John-david Franklin Receives Trustees Distinguished Service Award

Washington, D.C. — June 19 2020 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, announced today that John-david Franklin, Senior Vice President – Retail Solutions, has received the prestigious Trustees Distinguished Service Award from the International Conference of Shopping Centers (ICSC).

“I am pleased to have been named a recipient of this award by ICSC,” stated John-david Franklin. “At Madison Marquette, we have long been dedicated to the creation of special places and to the strengthening of neighborhoods – something that is important to ICSC and that is reflected in the work done by this year’s and past recipients of the Trustees Distinguished Service Award,” Mr. Franklin added.

The Trustees Distinguished Service Award recognizes ICSC members who have also made significant contributions to the industry and have established themselves as leaders within the organization. It is symbolically a lifetime achievement award bestowed only upon longtime ICSC members and volunteers. The award honors members for their important role in helping ICSC achieve key milestones.

John-david Franklin has been a member of ICSC since 1981 and has held a variety of leadership positions with the organizations. At Madison Marquette, Mr. Franklin has been associated with the success of such iconic projects as Asbury Park Boardwalk and Montgomery Promenade among many others. Mr. Franklin has been a senior leasing executive with Madison Marquette since 2004.

“We appreciate ICSC’s recognition of John-david’s significant contributions to ICSC leadership and to the innovative evolution of the retail environment in the United States,” said Tom Gilmore, Chief Strategy Officer – Retail Solutions. “Madison Marquette has long supported the critical work being done by ICSC to anticipate and meet the changing needs of American retail investors, stakeholders and consumers,” Vince Costantini, CEO, added.

ABOUT MADISON MARQUETTE

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

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Rosen Group expands north Houston offices

By Katherine Feser (as appearing in Houston Chronicle)
Published 7:00 am CDT, Friday, March 20, 2020
The Rosen Group leased space in the Gateway I and II office buildings near Bush Intercontinental Airport.

Oprona, a subsidiary of the Rosen Group, expanded in the Gateway I & II office complex in north Houston to meet the growing demand for its business.

The company, which leased 31,804 square feet, provides automated inspection systems, flowmeters, cleaning tools, coatings and instruments to the oil and gas industry.

The location near JFK Boulevard and Bush Intercontinental Airport factored into the expansion decision, according to Michael Evans, manager of brokerage services at MHW Brokerage Services, which represented Oprona.

The company will grow from about half a floor in one of the buildings to 22,754 square feet in 3663 N. Sam Houston Parkway East (Gateway I) and an additional 9,050 square feet in 15333 JFK Blvd. (Gateway II). Rosen Group also has nearby offices at 14120 Interdrive East.

Jeff Williams and Mitchell Oxman of MHW Brokerage Services represented the tenant in the lease. Marci Phillips, Livy White, Wade Bowlin and Angelina Stone of Madison Marquette represented the landlord, Gateway Houston Partners.

The deal is a score for the North Houston/Greenspoint area, which has struggled since companies such as Exxon Mobil, Noble Energy, Southwestern Energy, FMC Technologies and Insperity departed to new office campuses elsewhere over the last decade.

The North Belt/IAH submarket has the highest office vacancy rate in the Houston region at 49.2 percent, according to Madison Marquette. That’s down from a peak of 50.2 percent at mid-year 2019.

The market seems to have turned a corner, registering three positive quarters of leasing gains after occupancy losses for six consecutive years, according to Madison Marquette.

The Oprona deal is one of nine new leases, expansions and renewals totaling 76,343 in the Gateway I & II portfolio over the past 18 months, according to Madison Marquette. Occupancy of the 268,760-square-foot complex rose to a current 60.7 percent, up from 51.6 percent 18 months ago.

The leases at the complex account for 7 percent of the leasing activity in the North Belt/IAH submarket over the past 18 months, according to Madison Marquette. The submarket’s uptick in activity over the past 18 months consisted mostly of leases under 10,000 square feet.

[email protected]
twitter.com/kfeser

Developer Behind DC’s $2.5 Billion Wharf Aims to Build Something Bigger

Amer Hammour Talks About His Plans to Grow Madison Marquette

Jon Carrasco Appointed Associate Director, Research and Data Analytics for Madison Marquette

(As appears on PR Newswire)

WASHINGTON — Madison Marquette, a leading private real estate service provider, operator and developer, is pleased to announce Jon Carrasco as Associate Director, Research and Data Analytics for Madison Marquette. In this role, Mr. Carrasco will be responsible for supporting the company’s national brokerage platform by providing market intelligence, strategic analytical tools, and insight interpretation that will position the company to deliver more effective, competitive, and successful intelligence and analytics to its clients. He will report to the National Director of Research and senior market leadership to develop and execute strategic research plans to align with Madison’s goals for expanding and improving its Research & Data Analytics platform.

“We are delighted to welcome Jon Carrasco to our research team,” said Ariel Guerrero, SVP/Director of Research and Market Analysis for Madison Marquette. “His expertise in the industry’s leading research data processing tools, combined with his background in intelligence analytics will provide our team with the resources needed to curate custom datasets and industry analysis for our clients.”

Prior to joining Madison Marquette, Jon was a Senior Data Intelligence Analyst for CBRE where he was frequently invited to teach advance Tableau training sessions to research peers across the company. His research presentation platforms have been featured by CBRE Research as a Global Best Practice, and under his leadership, the intelligence team re-developed the company’s proprietary database of lease comps and property data.

“With this addition to our research platform, Madison Marquette continues to enhance its analytics support, offering our clients the insight to drive decisions that add value to their real estate,” said Drew Genova, Chief Asset Services Officer, Madison Marquette.

Jon is currently an adjunct professor of micro- and macroeconomics at Lone Star College, and is a graduate of Rice University with a B.A. in Mathematical Economic Analysis. He obtained both an M.A. in Economics and an M.S. in Finance from the University of Houston, and recently served as Chairman of the Finance Subcommittee for CBRE Cares.

He will be based in the Houston office.

 

About Madison Marquette

Madison Marquette is a leading private real estate investment manager, service provider, developer and operator headquartered in Washington, D.C. As a full-service real estate provider, the company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has over 620 professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

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