Liz Bradley - Energy Real Estate Solutions, LLC

BlogHeader_News_2017

ERES Opens First International Office in Neuquén, Argentina

By | ERES News, The Vaca Muerta | No Comments

The commercial real estate firm has expanded to South America to best service clients operating in the highly active Vaca Muerta shale play

 

Jose Barreto | Project/Facilities Manager

Jose Barreto | Project/Facilities Manager

DENVER, CO — January 16, 2019 — Energy Real Estate Solutions (ERES), a full-service real estate firm providing brokerage, development, property management, construction management, and consulting services to North and South American energy markets, announced today it has opened its first international office location in Neuquén, Argentina. The firm expanded globally in order to provide boots-on-the-ground support to meet the increasing demand of clients operating in Argentina’s Vaca Muerta shale play.

Over the past 12 months the Vaca Muerta shale has attracted over $165 billion in commitments from some of the largest players in the industry as they place large bets on the future success of the play, Argentina’s version of the Permian Basin. This significant growth has provided increased demand for development and support services across all facets of real estate in and around the burgeoning shale play.

“ERES has been providing real estate services in the Neuquén Province for well over a year, but as the needs of our clients continue to grow and diversify it became clear we needed to establish a permanent presence in the market,” said ERES CEO Mike Elliott. “Our firm is unique in that we have full capabilities to answer real estate needs across the entire continuum – from construction to brokerage to facilities management, including workforce housing. By opening an office in Neuquén, we can expedite and strengthen our clients’ expansions in the Vaca Muerta, helping them to efficiently seize current opportunities in an area where infrastructure is still being established.”

To lead the new office ERES has brought on Jose Barreto as Project/Facilities Manager. In this role he will be responsible for the oversite of all client projects, ensuring on-time and on-budget deliveries. Barreto joins the firm with six years of international project management and facilities operation experience, most recently serving as Project Manager for an over $8MM development project in Panama.

Vaca Muerta Shale Play

Vaca Muerta Shale Play

“For oil and gas companies without a solid presence in Vaca Muerta markets, managing real estate projects is nearly impossible,” says Barreto. “Being a part of ERES, who has the experience – and now local resources – to ensure investment success, is exciting as it’s definitely a situation of the right company, in the right market, at the right time.”

This marks ERES’ third office opening in the past two years, with the firm expanding to Houston, TX in October 2018 and Midland, TX in 2017. ERES has three additional offices geared toward other emerging and developed energy markets located in Denver, CO (HQ), Fort Worth, TX and Williston, ND. Visit www.energyreco.com/about-us to learn more.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. The firm currently operates out of six offices located in Denver, CO (Headquarters), Williston, ND, Fort Worth, TX, Houston, TX, Midland, TX and Neuquén, Argentina. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
julia.duval@energyreco.com

Click HERE for .PDF announcment

BlogHeader_News_2017

Kate Waggoner Joins ERES as Chief Operating Officer

By | ERES News | No Comments

Veteran commercial real estate operations leader will help guide ERES’ continued domestic and international growth and expansion

 

kate waggoner

ERES COO Kate Waggoner

DENVER, CO — January 8, 2019 — Energy Real Estate Solutions (ERES), a full-service commercial real estate firm providing brokerage, development, property management, construction management, and consulting services to North and South American energy markets, announced today that veteran commercial real estate executive Kate Waggoner has joined the company as Chief Operating Officer, a new position within ERES.

Leading operations for some of the largest commercial real estate firms in the industry, Waggoner has held a long and successful career helping companies align business and growth strategies with effective operation, financial and sales tactics. Her primary role at ERES is to oversee company-wide operations, human capital and business strategies across all office locations and worksites. Waggoner’s preliminary focus will be on aligning ERES corporate operational strategies and tools with the rapid growth the firm has experienced across the last several years, helping to stabilize an effective approach to client service, human capital and fiscal efficiency.

“Kate’s industry knowledge and depth of experience is an incredible asset to ERES as a company, but most especially to our clients,” says ERES CEO Mike Elliott. “With her at the operations helm ERES will work smarter and more efficiently, helping to strengthen our service offerings and expand our reach to some of the most active energy markets in the world.”

Before joining ERES, Waggoner served as the COO – U.S. Markets at JLL where she oversaw all operations, finance, human resources, legal, marketing, research and client care functions. Prior to that, she served in a variety of operational roles at CBRE, Inc., culminating as their Global Director of Operations.

“I am excited to hit the ground running in this new role at ERES,” says COO Kate Waggoner. “The immense growth our firm has experienced since its 2014 launch is incredible, and with this new strategic operational focus we can enhance our boots-on-ground services and offer them to new markets and clients.”

Waggoner has previously been named as one of the Denver Business Journal’s Outstanding Women in Business and presented with the Colorado Women of Influence Award, among many others.

To learn more about Waggoner and the full-suite of ERES commercial real estate services, please visit www.energyreco.com.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. The firm currently operates out of five offices located in Denver, CO (HQ), Williston, ND, and Fort Worth, Houston, and Midland, TX.

CONTACT
Julia DuVal
Director of Marketing
julia.duval@energyreco.com

BlogHeader_News_2017

ERES Managed Property Receives 2018 Best of Williston Award

By | ERES News, The Bakken | No Comments

The Confluence at Harvest Hills honored as Best Apartment Building in Williston, ND

 

williston

The Confluence at Harvest Hills

WILLISTON, ND — December 28, 2018 — Energy Real Estate Solutions (ERES), a full-service commercial real estate firm providing brokerage, development, property management, construction management, and consulting services to North and South American energy markets, announced today its managed property The Confluence at Harvest Hills was selected for the 2018 Best of Williston Award in the Apartment Building category by the Williston Awards Program.

Each year, the Williston Award Program identifies companies that have achieved exceptional marketing success in their local community and business category. Various sources and criteria are gathered and analyzed to choose the winners in each category, paying close attention to customer service and community involvement. Winners are determined based on the information gathered both internally by the Williston Award Program and data provided by third parties.

“I’m so honored that The Confluence at Harvest Hills has been recognized as the best apartment community in Williston,” said ERES Regional Property Manager Cheri Fox. “At ERES our property management goal is to exceed the expectations of both our property owners and tenants. I, and our entire property management team, work so hard day-in and day-out to reach that goal…and this award is proof it’s working!”

Fox, who has over 22 years of property management experience, has managed The Confluence at Harvest Hills since 2014 continually ensuring top-notch customer service standards and tenant satisfaction. She currently oversees approximately 1,150 multifamily unitns in the Williston, ND area and has served a variety of clients from mid-range to high-end properties. In addition, Fox has served on the Board of the Bakken Apartment Association for two years, last year as Vice President.

To learn more about The Confluence at Harvest Hills, visit www.confluenceapartments.com.

To learn more about ERES property management solutions, visit www.energyreco.com/property-facilities-management.

ABOUT WILLISTON AWARD PROGRAM

The Williston Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Williston, ND area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value. The Williston Award Program was established to recognize the best of local businesses in our community. The organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Their mission is to recognize the small business community’s contributions to the U.S. economy.

ABOUT ERES

Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. The firm operates out of five offices located in Denver, CO (HQ), Williston, ND, and Fort Worth, Houston, and Midland, TX. For more information, visit www.energyreco.com.

 

BlogHeader_Shale Play Market Intel

Energy Market Construction Costs Update | Q3 2018

By | The Bakken, The Delaware, The Permian | No Comments

Bakken, Delaware, Permian Basins | Construction Costs

construction costs

As U.S. crude oil production continues to increase, construction costs across key shale plays have risen alongside it. This is nothing new, as construction costs in energy markets have always been more expensive than the U.S. average. Why? Building in secondary and tertiary markets comes with its own set of limitations, and they are the same no matter the shale play – labor shortages, low workforce housing, high material costs and limited equipment transportation.

Below find a current boots-on-ground snapshot of commercial real estate construction costs in the Bakken, Delaware and Permian Basins to help provide realistic expenditures for your next development.

  • The Bakken: The oil rich Bakken, which includes main hubs Williston and Watford City, ND, has current construction costs at around $100 per square foot for full industrial builds. The market has seen little to no development over the past year across all asset types, which has contributed to a strong labor force that can handle workload. With 2% vacancy we expect this trend to discontinue, as illustrated by a recent increase in permitting. The next 12 months should once again bring several construction projects coming to core markets which will see an increase in costs.
  • Delaware Basin: In West Texas’ Delaware Basin construction costs are dramatically increasing month-over-month, reaching as high as 30-40% average increase per quarter. In the Pecos, TX area current market costs sit around $175 – $250 per square foot and are expected to increase over the next 12 months. The basin is in the midst of a construction boom across all product types, but primarily in steel industrial assets. The good news is that the basin is addressing its labor availability and housing problem, as we are now seeing workers arriving from nearby Carlsbad, NM and El Paso, TX, as well as an uptick in workforce housing construction.
  • Permian Basin: Further along in its real estate development life cycle than other shale plays, construction in the Permian is mostly limited to high-rises and tenant improvement projects. In the Midland, TX market area costs have been consistently increasing month-over-month and currently hover around $50 – $60 per square foot for TI, $85 – $100 per square foot for steel industrial assets, and $150 – $175 per square foot for full build-outs.

Seeking construction insight for your shale play real estate project? Click HERE for entrenched, knowledgeable support and services.

mike elliott

ERES CEO Mike Elliott Recognized as a Top Energy Sector Leader

By | ERES News | No Comments

The Denver Business Journal has named Elliott a 2018 Who’s Who in Energy

bakken real estate

ERES CEO Mike Elliott

Denver, CO — December 12, 2018 — Energy Real Estate Solutions (ERES), a full-service commercial real estate firm providing brokerage, development, property management, construction management, and consulting services to North and South American energy markets, announced today that Chief Executive Officer Mike Elliott has been selected as a 2018 Who’s Who in Energy award winner by the Denver Business Journal. This is the fourth win for Elliott who previously received the award in 2014, 2015, and 2016.

Each year the Denver Business Journal chooses 100 individuals for its Who’s Who in Energy publication, a profiling of top executives whose position, knowledge or expertise helps guide Colorado’s multibillion-dollar energy sector. Considered go-to experts and key players, Elliott and his fellow recipients were chosen based on a combination of industry outreach, internal research and open nomination.

“I’m very appreciative to once again be recognized as a Who’s Who in Colorado’s energy industry,” said ERES CEO Mike Elliott. “At ERES we strive to provide our clients with the first-hand, accurate energy market intel that ensures smart real estate decisions and successful returns. Receiving this award reinforces that we’re doing right by them.”

Elliott’s unparalleled perspective on the current and future state of shale play real estate development has provided ERES clients, energy companies and investors in Colorado (and beyond) with the insight necessary to maximize and monetize their real estate portfolio amidst uncertainty surrounding oil prices. He spends nearly 95% percent of his time in energy markets to be able to provide a true, boots-on-the-ground perspective on market conditions and trends.

To see the full list of Who’s Who in Energy award winners, visit bizjournals.com.

To learn more about Mike Elliott and Energy Real Estate Solutions, visit www.energyreco.com.

ABOUT ERES

Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. The firm operates out of five offices located in Denver, CO (HQ), Williston, ND, and Fort Worth, Houston, and Midland, TX. For more information, visit www.energyreco.com.

 CONTACT

Julia DuVal
Director of Marketing
julia.duval@energyreco.com

BlogHeader_News_2017

ERES Continues Texas Expansion into Houston

By | ERES News | No Comments

Vice President Patrick Kelly has been hired to enhance ERES’ boots-on-the ground brokerage services throughout Houston

 

PatrickKelly_WebHOUSTON, TX — October 2, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today it is further expanding its Texas presence with the addition of a key brokerage position based in Houston. Patrick Kelly has joined ERES as Vice President to enhance the firm’s boots-on-the-ground brokerage services throughout Houston and Texas energy markets.

This marks the company’s second Texas-based brokerage addition in the last three months, adding a Managing Broker to its Midland team in May. Kelly’s hire further sharpens ERES’ focus and strategy in Texas energy markets, where the company has already completed a significant number of brokerage, construction and property management projects through its Fort Worth and Midland office locations.

“Pat’s history and knowledge of the Houston market and energy sector allows ERES to better serve our existing and future clients throughout the state of Texas,” says Mike Elliott, ERES Founder & Managing Principal. “We now have an increased ability to provide full-scale, on-the-ground real estate services in one of Texas’ largest and most active markets.”

Kelly joins ERES with over 18 years of commercial brokerage and development experience, specializing in the acquisition, disposition, development, construction, evaluation and underwriting of investment grade real estate. A vast background in Houston markets and the energy sector, his focus is providing brokerage services for office and industrial properties in the 5,000 to 50,000 square foot range. In addition, Kelly provides ERES clients with extensive experience in the site selection, valuation and acquisition of raw land.

Kelly can be reached at patrick.kelly@energyreco.com or (281) 923-4303. ERES has four additional offices geared toward other emerging and developed energy markets located in Denver, CO (HQ), Fort Worth, TX, Midland, TX and Williston, ND. Go to www.energyreco.com/contact to learn more.

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

BlogHeader_Call For Offers

ERES Announces Call For Offers on High-Return Bakken Multifamily Investment

By | Real Estate News, The Bakken | No Comments

Pheasant Run Apartments is located in the Bakken economic hub of Williston, ND and is comprised of 48-units on 1.9 AC

multifamily investment

 

WILLISTON, ND — September 25, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a 48-unit high-return Bakken multifamily investment.

Pheasant Run Apartments is an exclusive investment opportunity ideally located in Williston, ND, the economic hub of Bakken oil activity and an area currently experiencing increased housing demand.

bakken investment property

Positioned amidst Williston’s recent transportation improvement projects and near the new Williston High School, the smoke-free apartment complex boasts a desirable and accessible location. It offers easy access to area retail, dining, highways and Sloulin Field International Airport.

The property consists of two, three-story, 24-unit garden level apartment buildings on 1.9 acres. The units provide a variety of floorplans and are ideal for energy industry workers and their families.

Unit Breakdown:

  • Studio/One bath | Three units
  • One bed/One bath | Nine units
  • Two bed/One bath | 36 units

OFFER DEADLINE
Tuesday, October 16th at 5:00 p.m. MST

DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement.

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
  • CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota energy markets are experiencing a rapid influx of service workers which is increasing area housing demand. With this demand inching toward outweighing supply, the Badlands II multifamily portfolio is well-positioned as an investment with high-return potential.
  • STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken multifamily vacancy rates shrink to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, multifamily investors now have a strong opportunity for future returns.

PROPERTY CONTACTS
Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

 

BlogHeader_News_2017

ERES Founder & Managing Principal Discusses Bakken Commercial Real Estate Upswing

By | Real Estate News, The Bakken | No Comments

ERES Founder & Managing Principal Mike Elliott was featured today in the Williston Herald providing his boots-on-the-ground insight into the continued upticks in Bakken commercial real estate activity.

Apartment Units Almost Full Again

Commercial real estate market in Williston is poised to take off again

Vacancy rates went up quite a bit during the downturn, stoking fears that the multifamily sector had overbuilt for the long-term need in the Williston region. However, with crude oil prices in the $60 range, Williston apartments have filled up fast.

“Lots of people have gotten hired,” said Mike Elliott, founder and managing principal of Energy Real Estate Solutions. “We manage about 4,000 multifamily units in the (Bakken) market, and I think our average for our portfolio is 92 percent occupancy. A year ago, or even two, you were definitely in double digits as far as vacancies go, and some (multifamily) had really big vacancies.”

bakken commerical

 

BlogHeader_News_2017

ERES Nominated for 2018 Consultancy of the Year Oil & Gas Award

By | ERES News | No Comments

ERES has been selected as a finalist in the 6th Annual Rocky Mountain Oil & Gas Awards

 

eres nominatedDENVER, CO — August 14, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announced today it has been nominated for Consultancy of the Year at the 2018 Rocky Mountain Oil & Gas Awards.

Since 2012, the Oil & Gas Awards seek out the best companies who push the energy industry forward when it comes to the core values of operational excellence, health and safety, corporate social responsibly and environmental stewardship. The awards are broken into four regional boundaries and 25 nomination categories, with winners chosen by a panel of over 100 senior energy executives.

ERES has been nominated in the Rocky Mountain region for the category of Consultancy of the Year. This award recognizes premier third-party consultancy services provided to upstream, midstream and downstream companies. ERES was selected as a finalist by demonstrating an impressive record of delivering innovative, original and consistent third-party advice on strategy, project delivery and execution to energy companies in the Rocky Mountain region.

“It’s an honor to be nominated by the Oil & Gas Awards as Consultancy of the Year” says ERES Founder & Managing Principal Mike Elliott. “Being recognized as a valuable partner is so important to us because we understand how difficult and time-consuming shale play real estate can be for energy companies, especially in rural markets. Our main goal has always been to provide clients with the boots-on-the-ground insight into these markets that are so critical to the success of their business…ensuring positive returns and continued opportunities.”

The 2018 Rocky Mountain Oil & Gas Awards winners will be announced at a gala dinner held August 21st in Denver, CO. The full list of finalists can be viewed here.

To learn more about Energy Real Estate Solutions, please visit www.energyreco.com.

ABOUT ERES

Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.

CONTACT
Julia DuVal
Director of Marketing
720.403.8423
julia.duval@energyreco.com

BlogHeader_Call For Offers

ERES Announces Call For Offers on Exclusive Bakken Multifamily Investment Portfolio

By | Real Estate News, The Bakken | No Comments

The Badlands II portfolio contains four apartment properties totaling 14 buildings and 504 units located in Dickinson, Minot, Tioga and Watford City, ND

multifamily investment

 

WESTERN NORTH DAKOTA  — August 13, 2018 — Energy Real Estate Solutions (ERES), a full-service real estate firm focused on providing brokerage, development, property management, construction management, and consulting services to North American energy markets, announces a call for offers on a premier, high-return Bakken multifamily investment portfolio.

The Badlands II multifamily portfolio is an exclusive investment opportunity featuring four high-end, quality-built apartment communities ideally located in western North Dakota in the heart of Bakken oil activity, a market experiencing increased housing demand.

bakken investment property

The portfolio is only five years old and contains 14 buildings with 504 spacious apartment units and 561 detached garage units. The portfolio was employee housing, however the units have all been opened to the public. Unit layouts and garage types vary per property, but contain the following:

  • One bed/One bath
  • Two bed/Two bath
  • Three bed/Two bath
  • One-car garage
  • Two-car garage

Each property is well-located in its respective market near to area shopping, dining, schools, parks, airports, hospitals and highways. These high-end properties offer numerous amenities and are poised to offer a high investor return. The investment offering can be sold as a full portfolio or per property.

OFFER DEADLINE
Monday, September 10th at 5:00 p.m. MST

DUE DILIGENCE DOCUMENTS
Offering memorandum is available upon request with signed Confidentiality Agreement.

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
  • CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota energy markets are experiencing a rapid influx of service workers which is increasing area housing demand. With this demand inching toward outweighing supply, the Badlands II multifamily portfolio is well-positioned as an investment with high-return potential.
  • STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. We are seeing Bakken multifamily vacancy rates shrink to 7% (and dropping) as rental rates increase 28%-32%. With this stabilization upswing, multifamily investors now have a strong opportunity for future returns.

PROPERTY CONTACTS
Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

ABOUT ERES
Energy Real Estate Solutions (ERES), a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios, provides brokerage, project management, property and asset management, development, workforce housing, and consulting services in and around the world’s most active energy sites. For more information, visit www.energyreco.com.