Foldetta Commercial leased 6K to West Company Acquisitions for its Landpoint Land Surveying Company office at 525 Sawdust Road in The Woodlands Texas. Ross Foldetta represented the Landlord.
By Terrie Smith
The Woodlands office, one of Houston’s best performing submarkets in terms of demand finished 2018 with a positive absorption and a total vacancy rate of 10.6%, leading all Houston area submarkets in terms of demand over the past year. In Q1 2019, The Woodlands boasted a vacancy rate of 9.1%, one of the lowest out of the five largest submarkets in the Houston metro by total inventory.
Currently under construction is approximately 280,000 sf of office space, a large percentage comprised of CityPlace 1 and 2 in Springwoods Village, expected to be deliver by mid-2019. An additional 568,000 sf Hewlett Packard Enterprise campus is scheduled to begin construction in late 2019 in Springwoods Village.
Long term, The Woodlands office is poised to remain one of the strongest submarkets in the Houston metro.
ABOUT FOLDETTA COMMERCIAL
Foldetta Commercial provides comprehensive leasing services for office buildings, industrial sites, medical facilities, retail shopping centers, flex-office/warehouse and mixed-use developments. We also offer asset management to protect long-term investment value.
We are here for buyers, sellers, landlords and tenants to assist in acquisitions, dispositions, site selection and more. We serve both large and small needs, single transactions and entire portfolios. From start-ups to successful enterprises we focus on growth and sustainability for each client and terms and investigate multiple levels of possibilities for our clients which enables us to provide critical perspective for the evaluation of facility and construction issues.
ABOUT TERRIE SMITH
Terrie, a native Houstonian, has been involved in commercial real estate for 30+ years. She has gained extensive knowledge, disciplines, challenges and opportunities through acquisition, disposition, management and leasing of investment properties including retail, office and industrial/flex. Terrie has additional knowledge with bank owned (ORE) properties, land sales, Tenant Representation and site selection. For more information about Terrie or to contact her, please Click Here.
By: Brynn Rader, Woodlands Online | Published 02/21/2019
REPOST – THE WOODLANDS, Texas — Foldetta Commercial Real Estate has been serving The Woodlands for 15 years. Ross Foldetta, as the principal of the company, brings 35 years of knowledge and experience to clients.
Foldetta Commercial Real Estate offers full-service commercial tenant representation, sales and leasing services. According to their website, Foldetta represents “retail, office, industrial and land properties throughout North Houston and the Montgomery County area, including Spring, The Woodlands, Oak Ridge, Conroe and Montgomery.”
Years ago Foldetta spent much time in office buildings but for very different reasons. “My family was in the commercial janitorial business … I knew quickly after about two years, I didn’t want to be in the janitorial business, not because of the work but because what you’re really doing is trying to hire new employees every six months … it’s a transient workforce. And so that was getting old, and I thought that being in the building, if you will, looked interesting, and professional and sort of glamorous by comparison. So I went down that trail and was very fortunate to get a job with The Woodlands Development Company,” Foldetta said.
Foldetta cherishes the time and experiences during that portion of his career. Foldetta said, “My favorite memories are a culmination of twenty years at The Woodlands Development Company, where the focus was building a city and authentic community and not just a few buildings and some rooftops. I worked with outstanding talent and caring people (some of which are still my closest friends today). The Woodlands team sincerely had a heart for the vision of an outstanding place to live, work and play. It sounds trite at times, but I learned a lot about thinking with more vision than what’s right in front of us, which unfortunately is not all that common in today’s culture.“
After 20 years with The Woodlands Development Company, Foldetta began the operation of his firm, Foldetta Commercial Real Estate. Now the company has six real estate associates along with a transaction coordinator. He said, “I have a saying that if I fill up the conference room, someone needs to duct tape me to the chair, so I don’t hire anyone else. I believe if I keep things small and nimble, I can help oversee all the work and provide true ownership assistance.”
Describing the priority of his business, Foldetta said, “Our culture is such that our focus is not ‘the commission,’ but rather helping a client.” This servient attitude is made easier if the work is enjoyable, and, for Foldetta, it is. The variety afforded by each day brings pleasure to the office. “Every single transaction is different. Every day is different. Every client is different,” said Foldetta.
Misconceptions arise in many professional industries. Real estate is no exception to that rule. Online websites and companies featuring real estate tools seem to be popping up everywhere. Some begin to assume there is no need for an agent with Google at your fingertips. Advising against this approach, Foldetta said, “There’s no talent or help in a challenge by relying on the internet, just shortcuts; and you know what they say about shortcuts, ‘When it comes to success, there are no shortcuts.’” Foldetta cares for client needs throughout the transaction to assist with issues the internet alone cannot.
Foldetta said, “Between my wife and I, we have four adult children who grew up in The Woodlands … And we have four grandchildren.” As a resident of The Woodlands for 35 years, Foldetta said, “I love that it is a community where you’ll see people you know in every setting, and even raise children who find this to be their home as they grow into adulthood.”
“We are members of WoodsEdge Church, and in our spare time, we travel to our place in Crested Butte, Colorado where we usually ski twice each year and hike in the summer and fall. It is a great place to be in July/August,” said Foldetta. Other pastimes enjoyed are reading, attending The Woodlands High School football games and golfing.
Foldetta said, “I used to run, bike and swim for an occasional triathlon, but now I just walk the golf course and carry my clubs for a workout and mental relaxation.” His passion for golf spills over into charitable giving. “Among other efforts, we routinely sponsor the Pulmonary Hypertension Crawfish Festival that Jack Stibbs started as a golf tournament about twenty years ago.”
Now Foldetta plays a major role in the local commercial real estate field. No longer with a mop bucket in tow, he relishes the freedom of running his own firm.
An undisclosed Buyer purchased an existing car wash for future redevelopment located at 3000 FM 2920. The Buyer was represented by Terrie Smith of Foldetta Commercial.
Businesses commonly cite a multitude of reasons for relocating. These include:
Access to talent
Many employers are evaluating potential business locations to better recruit and retain younger, more skilled and specialized talent that can boost productivity. Employees looking for a better quality of life that includes lower cost of living, better education systems, the cultural environment, entertainment options, crime rates, healthcare services and the state of the surrounding area.
Reaching new markets
Business markets, like everything else, will change with time. Existing markets could flatten, and planning and implementing a growth strategy to move closer to a large segment of their market, or to establish a presence in a new market targeting a new customer base, can help develop significant growth.
Lowering costs/increasing cash flow
As businesses grow, they can find themselves in a position where their current location doesn’t offer the space and expanding facilities they need. Rather than investing the extensive time and capital to build new headquarters and upgraded systems, they realize the easier, more affordable option to become more competitive is to relocate.
The list goes on
While the decision to relocate your business could well be a smart move that could catapult your company to the next level of success, the best way to minimize risk is to work with an established commercial real estate consultant in the market you’re considering. That’s why even Fortune 500 companies forgo relying solely on internal real estate departments, and turn to commercial real estate consultants to help them navigate what is a time-consuming, complex process. Consultants who provide an invaluable edge, from listing access to contacts to proprietary market knowledge and analysis. From negotiating leverage to the nuances and legalese of contracts.
For unmatched guidance and expertise in helping you determine and execute relocating to The Woodlands or surrounding areas, call Foldetta Commercial. You want the best? It’s your move.