Congratulations to Timothy Clay, Amy Silvey, & Kevin Dalrymple of Clay & Company who received Honorable Mention for the William C. Jennings Commercial Transaction of the Year from the Texas Association of REALTORS®. See the write up in the March issue of Texas Realtor Magazine.
Over 2011 and 2012, Clay & Company partnered with Lonestar Construction to locate key sites in the Greater Houston area, procure construction financing, and design and begin construction on three facilities for three different triple-net lease tenants. The $12,154,795 project included three properties in three different counties, 136,286 square feet and 16.5 acres; three triple-net leases; three tenants, three lenders, two different partnerships, and nineteen individual partners.
Timothy K. Clay, President, Clay & Co
Specialty: Triple net investments and land
Clay is the founder and president of Clay & Co., which celebrated its 20th year in 2011. Last year, he assisted clients in forming a fund with the purpose of purchasing over $25 million of triple-net investment properties. The fund closed on its first property in October, a Baytown retail space with a 20-year lease to Academy Sports and Outdoors.
Who’s a competitor whom you admire in Houston? Larry Indermuehle, CEO and founder of Larry Indermuehle & Co.
Where’s the weirdest place you’ve closed a real estate deal? On the side of the road
What do today’s tenants get the most excited about on a tour? Amenities
What job did you receive your first paycheck for? Discount Tire store on U.S. Highway 6
When trying to sell Houston as a city, what’s your favorite thing to brag about? Job growth
See full list of Houston’s 2012 Heavy Hitters of commercial real estate here.
Did you know we do business all over the state of Texas? Our most recent transaction is from Austin.
West End Lumber Company signed a 7-year lease for a 37,700-square-foot industrial building and an adjacent one-acre tract at 3601 Silver Dollar Circle. Kevin Dalrymple of Clay & Company represented the tenant.
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OFFICE-WAREHOUSE: Athena Gun Club of Houston has purchased a 53,770-square-foot office-warehouse at 10814 Old Katy Road on the Katy Freeway feeder road east of Brittmore. Tim Clay with Clay & Co. represented the seller, Katy Freeway Associates. (Houston Chronicle, 2/27/2012 and Real Estate Bisnow, 2/22/2012)
APARTMENTS: STYN has purchased a 53,599-square-foot apartment complex at 909 Birnham Woods in Pasadena. Amy Silvey with Clay & Co. represented the seller, Worldnet Telecom Services. (Houston Chronicle, 1/14/2012 and Real Estate Bisnow, 1/17/2012)
LAND: Emerson Process Management Valve Automation has purchased 6.8 acres at North Eldridge Parkway and Crossridge Drive. Phillip Arnett with Paine/Wetzel Associates represented the buyer. Tim Clay and Amy Silvey with Clay & Co. represented the seller, Clay Venture Fund #3. (Houston Chronicle, 12/24/2011)
LAND: Stripes has purchased 2.7 acres at North Gessner and Philippine. Clay & Co. represented the seller, Gessner/Philippine 2.72. Gulf Coast Commercial Group and Wile Interests assisted in the transaction. (Houston Chronicle, 12/24/2011)
Two of Clay & Company’s executives were recently awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute. Amy Silvey, Vice President, and Kevin Dalrymple, Director of the Sales and Brokerage Division, were awarded the designation during the Institute’s fall business meetings on October 12 in Phoenix, Arizona. Amy and Kevin were among the 348 commercial real estate professionals (9 from Houston) who earned the designation last month.
A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The elite designation is earned after successfully completing over 160 hours of case-driven study and submitting a comprehensive portfolio demonstrating the depth of their commercial real estate experience. Finally, they have demonstrated their proficiency in the CCIM skill sets by successfully completing a comprehensive examination. Only then is a designation candidate awarded the coveted CCIM pin, joining the ranks of highly skilled commercial and investment real estate experts.
Houston Chronicle Real Estate Transactions (Sept 5, 2011)
INDUSTRIAL: HAF Enterprises has purchased a 13,092-square-foot office warehouse space at 14038 S. Gessner in Missouri City. Tim Clay and Barton Kelly with Clay & Co. represented the seller, First Bank. Champions Real Estate Group represented the buyer.
Real Estate BISNOW The Deal Sheet (Sept 6, 2011)
Clay & Co has been selected as the exclusive leasing agent for a 94k SF industrial building on the South Loop at Mykawa Road. The building is comprised of 78k SF of warehouse space and 16k SF of office space. Central Transportation Systems occupied the facility through August of this year.
We were honored to have Tim Clay featured this week in the Houston Business Journal’s “Three Shots at a Dealmaker.”
Tim Clay is a 29-year-veteran of the commercial real estate business and founded Clay & Co. in 1991. He has been involved in over $500 million worth of real estate transactions and over 90 commercial real estate auctions. In addition, Clay is an active real estate investor, serving as general partner for over 15 partnerships purchasing multitenant office buildings; retail and industrial buildings on long-term, triple-net leases; and commercial land tracts.
Tell me about the biggest transaction you have been involved with this year.
Our biggest transaction and accomplishment this year has been the creation of the Clay NNN Lease Fund, where I serve as the general partner. The purpose of the fund is to acquire approximately $25 million worth of industrial and retail properties with long-term, triple-net leases in place to strong credit tenants. We currently own four triple-net-leased properties with many of the same partners which led us to establish the fund. We are under contract to purchase the fund’s initial two properties.
What do you predict for the rest of the year in commercial real estate?
We see a tremendous increase in activity, especially in the office/warehouse sector and certain retail sectors. That is where we see the biggest growth coming from for the remainder of 2011.
What has been your greatest professional challenge this year?
It has been financing for transactions. This has been because of the difficult financial markets.
Houston Chronicle Real Estate Transactions
OFFICE: Maranatha Full Gospel Church of Dallas has purchased a 13,098-square-foot office/warehouse at 2714A and 2716 Cypress Point Drive in Missouri City. Barton Kelly with Clay & Co. represented the seller, First Bank.
