THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE | JANUARY 2021
2020 Texas Icons
Features Buying time: Austin’s retail market can wait out the pandemic With customers unable or unwilling to go out to physical stores in the manner that they once did, the retail real estate sector took a hit in 2020. But not in Austin, where fundamentals hardly deviated from the previous year.
Future of flex: How employee choice could change offices for good Companies and employees alike have found value in the stay-athome experiment. Some will extend this methodology for the foreseeable future but others are looking for some sort of middle ground. That’s where flex space comes in.
IN THIS ISSUE Preparing for partnerships: Waller County EDP ready for reshoring & FDI opportunities Waller County has a lot going for it—numerous North American headquarters of European firms, cheap labor, transportation access and proximity to Houston. And development here is only just getting started.
Texas Hospitality & Entertainment: A Look Ahead
Tools of the trade: How technology will enable office workers to return we are steadily moving toward post-pandemic life. When it comes to certain parts of commercial real estate, that may not look exactly like it did even a year ago.
2020 Texas Commercial Real Estate Icons
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Letter from the Editor THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE
It’s over. 2020 is in the books. And good riddance. Those of a certain age (and up) remember what the last financial downturn was like, following the housing crash in 2008. It seemed then as if the economy would never rebound. It did, though. And man, did it ever, and the U.S. witnessed a record-long period of economic expansion. In fact, were it not for COVID-19, we very likely would still be reaping the benefits of the last cycle. Every year, economists and thought leaders predicted a plateau or even a downturn, some sort of regression to the mean—but only because we had never seen anything like that before. So what will the next recovery look like? It’s hard to tell since we’re still mired in the pandemic. However, there is a bit of hope since, as of this writing, the very first doses of a vaccine are being administered. It will take time to roll out vaccinations to everyone, but the process is now officially underway. While the economy is more flexible now than it was in 2008, it will be some time, I suspect, before we get back to pre-pandemic levels.
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Recovery will likely come in fits and starts—not only as containing the virus will be a long and onerous task, but also because the new economy won’t look like the one that preceded this event. That doesn’t come without growing pains. We’ve already seen disruptions (for the better in the industrial sector, and for the worse in retail and hospitality). Previously alien concepts such as conferencing over Zoom, contactless food delivery, ghost kitchens and more have nestled into our current way of life. Will these and other changes stick around after the pandemic? It’s hard to say but probably some will and some won’t—and some advancements that we can’t yet imagine will take root in a post-pandemic world.
commercial real estate brokers, investors
But 2020 was not all doom and gloom. This is the year that we unveiled our inaugural Texas Commercial Real Estate Icons. We profile 22 giants of Texas’ commercial real estate markets, those who are leaders to their colleagues and their peers not just for their business acumen but also the decency and generosity.
Outside Texas Investors, Brokers,
I, for one, am looking forward to the next stage of economic recovery—as well as the achievements of these and future Texas Icons. I hope you enjoy this issue and I welcome your comments and suggestions.
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GATEWAY TO THE GULF
Buying time: Austin’s retail market can wait out the pandemic BY MATT BAKER
“Austin continues to experience strong population growth numbers. With absorption of existing retail and back-filling of struggling tenants being healthy and strong.” Kevin Murphy
Think back in time five quarters or so. At the end of 2019, brick-andmortar retail was feeling the pinch of e-commerce. Virtually everywhere in the country, landlords struggled as storefronts went dark. Virtually everywhere, that is, but not in Austin.
“We were not experiencing pre-pandemic challenges in market demand within the Austin MSA,” said Kevin Murphy, vice president on NAI Partners’ retail services team in Austin. “The increased cost of property taxes was causing downward pressure on rates. Nonetheless, development and demand remained healthy.”
The key component of this unexpected performance is population growth. Between 2010 and 2019, U.S. Census figures show that Austin grew by over 177,000 residents, moving up the country’s list of most populous cities from 14th to 11th. Where the people go, so to do physical retailers, even in the age of online shopping. That was 2019; then 2020, of course, altered the trajectory of this and every other asset class. With COVID-19 leaving patrons unable or unwilling to go out to restaurants, stores, bars, bowling alleys and every other type of retail establishment, the sector took a hit.
“Most of the centers are specialty centers supported by the local and regional markets. Unless it is grocer-anchored such as the HEB centers, ‘big box’ retail is not viable in the market today with little to no demand.”
But again, Austin’s retail market proved to be slightly more resilient to the effects of the pandemic. According to NAI Partners data, the metro’s yearto-date retail occupancy rate at the end of October 2020 hovered around 95.2 percent. That’s nearly on par with the year-to-date figures from the previous October, which stood at 95.7 percent. “Austin continues to experience strong population growth numbers,” Murphy said, “with absorption of existing retail and back-filling of struggling tenants being healthy and strong.”
The proof is in the numbers. The year-to-date absorption last October stood at 456,319 square feet. While this was indeed a drop off from the 701,889 square feet over the same time span one year prior, it’s still positive retail absorption, which is more than most other markets around the country can claim. That’s also impressive as nearly 1.1 million square feet of new retail space came to market in 2020 as of the end of October, 77 percent of which is occupied (compared to the 870,000 square feet delivered to the Austin metro retail market one year prior).
City Management JANUARY 2021
“Investors are proceeding with caution on power centers.Although there are still large amounts of available capital, they are looking closely at alternative uses for the big boxes as they struggle against e-commerce, with a slight increase in the expected cap rates for these assets.” Most of the new space is being built in the Cedar Park, Leander and Hutto submarkets—in addition to a few in-fill developments such as the HEB on South Congress with two surrounding shadow anchored developments. One thing that Austin shares with the rest of the country is that new retail properties are far smaller than the sprawling developments of years gone by. “Most of the centers are specialty centers supported by the local and regional markets,” said Murphy. “Unless it is grocer-anchored such as the HEB centers, ‘big box’ retail is not viable in the market today with little to no demand.” Experiential retailers—the gyms, bars, cafes and any other storefront that offers an experience that is unimpeded by e-commerce growth—were meant to be the savior of retail landlords prior to the pandemic. These were the hardest hit, however, once COVID-19 came ashore. According to Murphy, however, there has already been an increase in the traffic among experiential retail tenants. He expects numbers will continue to increase as consumers trend more in this direction once they begin to feel safer. As is the case nationally, the single-tenant, net lease market continues to be the strongest subset within the retail sector. Murphy and his team continue to witness solid fundamentals and investor interest for neighborhood centers. That’s not to say that other retail properties are completely radioactive. “Investors are proceeding with caution on power centers,” Murphy said. “Although there are still large amounts of available capital, they are looking closely at alternative uses for the big boxes as they struggle against e-commerce, with a slight increase in the expected cap rates for these assets.” While population growth for the Austin metro is encouraging, tourism took it on the chin in 2020. In March, organizers of SXSW canceled the annual tech, music and film conference that is typically hosted downtown. In October, the Austin City Limits music festival went virtual. This had a real, economic impact as every $1 spent on a concert generates 10
$12 in economic activity, according to the National Independent Venue Association. Barracuda, Threadgill’s and at least four other Austin music venues have ceased operations due to the pandemic, with more in jeopardy. While some retail and entertainment locations will go dark for good as a result of the pandemic, the overall sector is expected bounce back fairly quickly in Austin, once the virus is under control. But what will that rebound look like? How differently will the retail development of tomorrow look and operate contrasted with how it has in the recent past? There likely will be some lessons learned from the pandemic and best practices to be implemented in response to consumer behavior. Murphy believes, for example, that retail centers will be smaller and more efficient, and we will likely see an increase in drive throughs and outdoor seating. “Looking at the increased market values of Amazon and others in the e-commerce world—and the pivot by many traditional retail consumers in realizing the convenience of these services—big boxes will not be in every submarket. They will be more strategic and scaled to meet the shift in buying habits,” said Murphy. “Traditional malls will continue to be repurposed into ‘lifestyle centers,’ such as Highland Mall and Lakeline Mall, creating a live-work-play environment.” Austin is proof that people really are the center of commercial real estate, as it is an influx of residents that are buoying a troubled sector during its darkest hour. Time will tell how strongly—and in what capacity—the retail asset class can thrive.
Future of flex: How employee choice could change offices for good BY BRANDI SMITH
Of any sector in commercial real estate, the future of office is arguably the most tenuous. Even as some employees return to the office, many may not—now or potentially ever. Companies and their workers have found value in flexibility of the stay-at-home experiment, choosing to extend it for the foreseeable future in some cases. In other instances, a kind of middle ground is being explored: the use of flex space.
“Companies are scrambling to figure out this new world. Ironing out all of this can be overwhelming, especially at a time when companies are knee deep in responding to
“Companies are scrambling to figure out this new world, figure out how they support their employees’ diverse needs, figure out how to create workplaces not only at a headquarters but also near their teams’ homes, and figure out what to do with their leases that now pose even greater liabilities,” said Anna Levine, chief commercial officer of Industrious, which offers coworking and private office space all over the country. “Ironing out all of this can be overwhelming,
all of the other changes the pandemic has brought on.” especially at a time when companies are knee deep in responding to all of the other changes the pandemic has brought on.”
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A Regus flexible office space.
That’s why so many companies—and even individual employees—are turning to outfits such as Industrious. In some cases, the company just isn’t ready to have everyone back in headquarters, while many employees may also favor the convenience of working from home. It isn’t always a perfect environment, however, as any parent can share. A home office is still at home, which comes with an untold number of distractions .
a “perfect storm”—reduced demand combined with increased member cancellations. He said that took a toll on many of the companies focused entirely on coworking space.
“Demand for coworking space is very much driven by people who need a location to work that isn't their home,” said Ben Munn, JLL’s global flexible space lead. “We've seen demand increasing in near-to-home, suburban locations or dense residential areas and it tends to be for smaller requirements.”
Those operators had to adapt—and quickly. At Industrious, that meant studying up on COVID-19 to figure out how to overhaul spaces to keep its team and members as safe as possible.
That’s precisely what Regus, which provides coworking and virtual office space, has witnessed in the past few months. “Currently, we are seeing much greater growth in smaller suburban areas as employees look to cut down on their commute and work closer to home,” a company spokesperson said, touting Regus’ representation in large metropolitan areas, as well as smaller towns and cities. “Our model is very well suited to the changes that are now taking place.” The uptick comes after a stark drop in interest when the pandemic started. Initially, the coworking industry experienced what Munn describes as
“This year has been undoubtedly a very difficult period for coworking operators and flex operators in general,” he said.
“We teamed up with other leading workplace operators and a roster of experts—epidemiologists, mechanical engineers, behavioral psychologists, etc.—to form the Workplace Operator Readiness Council,” Levine said. “We knew this was no time for competition; it was about coming together as an industry to ensure the safest environments for all of our employees, members and partners.” The company also heard from folks who were working from home, using that feedback to create a new membership type called Oasis. “You don’t tend to think of the office as something you can use on Goldilocks terms—just the right amount—but it turns out that tons of people need to
escape their homes a couple days a week,” said Levine. Partnerships also became an important part of moving forward. Industrious worked with landlords to offer tenants options, but it also created new experiences. Partnering with the Wythe Hotel in Brooklyn and Proper Hospitality (which has locations in California and Texas), the company transformed hotel rooms into private offices. “These have become a great retreat for those struggling with work from home fatigue or needing a quiet space to get heads-down work done without distractions,” Levine said. As the calendar turns to 2021, those changes, along with advancements in the fight against COVID-19, mean the outlook is much more positive. “We’re on the precipice of a major change in commercial real estate, and come the spring or summer, as vaccine rates increase, we anticipate most companies in the U.S. making decisions
about how to deliver a hub and spoke, hybrid workplace experience to their employees,” said Levine. JLL’s Munn echoed that, saying he expects employees will have more of a choice where they work in the future. “Those options could include the home office, the HQ, the downtown office, but also potentially a whole network of coworking spaces that might be near to home,” he said. “We absolutely see that flex will be a bigger part of the way companies provide space in the future. There will be a greater spectrum of choice around what flex means and early in 2021, we'll see that begin to manifest in demand.”
An Industrious flexible office space.
The early birds, said Levine, are already confirming those plans and will have a leg up once the world starts emerging again. “The
opportunity to rethink their workplace experience strategies,” she said. “We’re already seeing that move towards the outsourced workplace accelerate, and we’re excited about what it means for the months and years to come.”
Preparing for partnerships: Waller County EDP ready for reshoring & FDI opportunities BY BRANDI SMITH
Development of the 300+ acre Empire West Business Park is now underway in Brookshire, Texas.
When ‘partnership’ is part of your organization’s name, being awarded for working on a partnership is about as good as it gets. Waller County Economic Development Partnership recently took home a bronze award for Public Private Partnership from the International Economic Development Council. “To be judged as one of the best in the world, by the best in the world, is truly both humbling and rewarding,” says Vince Yokom, the EDP’s Executive Director. The EDP worked with the Waller County Road Improvement District and Waller County to help Ross Stores, Inc. build a new distribution center in the community just west of Houston. “Ross has not even occupied the facility yet and it has already been a great corporate citizen in supporting our infrastructure improvements in the area and our economic development effort,” Yokom says. “This was a true 14
partnership effort and one of the best experiences we have had in working with a prospect.” For many companies, Waller County is an obvious choice for a distribution hub. Served by a number of major highways and freeways, as well as rail and an airport, its strategic location on Houston’s west side is an incredible asset. It is now primed for development just as U.S. companies show renewed interest in reshoring operations. For decades, these factors such as cheap labor, inexpensive transportation and endless incentives convinced companies to move their production facilities out of the U.S. But the times, they are a-changin’, as the song goes. According to the Reshoring Institute, “a growing number of businesses have rethought their global manufacturing strategies,” which has led to an increasing number of companies bringing at least part of their production back to the U.S.
“More than half of the executives surveyed reported that they were planning or considering reshoring activities in the next five years,” the institute’s 2019 report notes. “Notably, 97% said that they would consider a domestic source for parts if the price and quality were competitive to foreign suppliers.” Knowing that, Waller County has been preparing for those U.S. companies looking to reshore all or part of their operations, as well as foreign direct investment. The EDP hopes to build on its current success with European companies. “We realize that relocating facilities can be a costly investment. As such we have been preparing to attract new opportunities through our incentive program, working with local schools to develop a workforce and access to workforce grants, and improving our infrastructure,” says Yokom. “While incentives can play a strong role in relocations, the workforce and infrastructure assets are usually considered more important to sustain long-term operations.” That’s why the county worked with TxDOT to reclassify several of its roads as major collectors. By reclassifying the roads, which usually connect directly with the state highway system, the cost of funding through the State Infrastructure Bank is reduced. “As we grow, especially along the Interstate 10 corridor, we are seeing the need to improve these collectors,” Yokom says. “This gives us more options when considering improvements to local roads.” The EDP also established a formal relationship with the Port of Houston, which was approved by the Waller County Commissioners Court in March, then by the Port Commission in April. “This makes us only the second county in the Houston region to have this type of formal relationship with the port in its Alternative Site Framework under Foreign Trade Zone 84 (FTZ 84),” says Yokom. “This relationship will help expedite the FTZ application process and provide many benefits to the FTZ operators.” He adds the EDP took special interest in the program when it learned that roughly 80 percent of FTZ operators are based in the U.S. “It seemed like the perfect fit since both U.S. manufacturing and distribution are joined at the logistics hip with FDI,” Yokom says. Waller County EDP is already seeing the impact of its efforts. This year alone, it responded to more than 30 requests for information. “Over the years we have worked hard to develop relationships with key local developers and brokers in the area. So to see an increase in direct contact enhances our ability to reach even more prospects,” says Yokom. “It’s also a good sign that our marketing efforts are paying off and more prospects, or their representatives, are finding Waller County.”
Germany-based MAN Energy Solutions now calls Waller County home for its North American headquarters.
The result: a number of projects are underway, including the 300+ acre Empire West Business Park and 400-acree The Uplands at Twinwood (both in Brookshire), along with Beacon Hill, which will offer more than 200 acres of commercial development, and the heavy industrial Alegacy Park, both in Waller. Industry-leading European companies now call Waller County home as well. Just in the past few years, companies with ownership or headquarters in Switzerland, Germany, Denmark and Ireland have either built new facilities here or have expanded existing ones. Waller County can now boast the North American Headquarters of MAN Energy Solutions (Germany), Burckhardt Compression (Switzerland) and Grundfos Pumps (Denmark). That’s just the list so far. Yokom says he knows competition for FDI will be intense, but that’s why the EDP started preparing in 2019. Since then, his team’s been researching trends and doing its best to explain why Waller County should be the destination of choice. “Among other things, we have started visiting trade missions of countries we feel are a good fit,” Yokom says. “Of course, with the pandemic, this has made personal visits almost impossible. We did, however, manage to visit with Enterprise Ireland, which has offices in Austin, before the pandemic. In addition, we are working with the Greater Houston Partnership, which has a great FDI program, to see what more we can do together.” That’s the key: together. Living up to its title, Waller County EDP will continue to look for partnerships that can benefit companies and the community. For more information about development in Waller County, visit WallerCounty.org or email Executive Director Yokom at vyokom@ wallercounty.org.
Texas Hospitality & Entertainment: A Look Ahead BY RAY HANKAMER Panelists: Erik Nylen, Beacon Hospitality Advisors; Ryan Walsh, NRG Park; Lily Cabutu Weiss, Dallas Art District; Maggie Thompson, San Antonio Riverwalk Association; Monte Anderson, Options Real Estate Investments; Fred Ortiz, HKS Architects; Bob Bullis, HKS Architects; Molly Alexander, Downtown Austin Alliance; Jonathan Horowitz, Convive Hospitality Consulting; Charles Vallhonrat, Texas Craft Brewers Association
The time of COVID will be a defining moment in our society, like 9/11 was. Many things that are now different will stay different from what they were pre-COVID. Entrepreneurs forced out of business now will come back in new and creative ways. The need to socialize is a strong and driving force; however, office occupancy and large crowded indoor restaurants may be a thing of the past. None of the panelists knows when all will “be back to normal” and likely it will come in increments, as vaccinations increase and people see illness and death tolls drop. Local, state and national government guidelines will shape the future in arts, hotel, travel and development. Hotels • Hotel occupancy, shopping and restaurant/bar sales are no longer on the bottom like they were in March, but they also have a significant ways to go to attain pre-COVID levels • Hotels—most running in 40% occupancy range—cannot even cover operating costs; loan payments and other fees are on hold as operators struggle to retain ownership; forbearance for some hotels will run out in December, and lenders are in a quandary going forward—foreclose or stick with borrower? There is not a deluge of distressed hotels on the market— yet; there is no RTC in place as in the ‘80s; there is a huge spread between ask and offer for hotels currently on the market, due to large loans in place: who eats the unpaid loan balance? • Some private equity groups are “coming to the rescue” of distressed hotels, but that means dilution of ownership and additional high cost debt; the owner has to decide: cut bait now or face possible bigger problem later with crushing debt load? • Roadside, extended stay and suburban hotels are in much better shape than city center hotels in cities with strong unions and which depend on dense concentrations of conventions, meetings and conferences; some of the “big box” downtown hotels have closed; towns with diversified room night demand are better for hotels; New York and San Francisco are hurting, and cities like Austin or Denver, less so
• People want to travel and need to network, but will business travel ever reach pre-COVID levels? • Gateway city hotels are hurt badly since they depend also on international travel and international tourists; drive-to local getaway locations are seeing increasing traffic—people just need to get away from their home confinement; VRBO and Airbnb are showing some improvement • When the market returns, there will be pent-up demand from postponed events such as weddings; many existing bookings for 2021 and forward have not been canceled and remain on the hotels’ books; the younger generation has been brought up on travel and the gathering of experiences it entails, and they will be among the first to hit the road • Corporate domestic travel will be slowest to return, and companies have seen that all business meetings do not need to be in person; also, reducing non-essential travel is a cost savings for companies large and small • The current trend towards outdoor meeting and dining will continue, and in this Texas has an advantage because we have a lot of months with “outside” weather
Sports & Culture
• This is a dark period for stadiums and sports teams, concert halls and musicians, theatres and performers, and other venues whose business models depend on heavy concentrations of people for their revenues—and survival • Large complexes such as NRG and Arlington Stadium are carefully monitoring local government mandates and public sentiment, and are, through surveys and careful attention to them, trying to deliver a “product” that gives attendees an adequate level of comfort: a touch-free ultra clean facility, social distancing entering and leaving their venues, as well as while in attendance; careful coordination in the protection of vendors, venue staff and contractors. Protecting the players and performers from exposure is of utmost importance; what will the public require of these large-scale venues before they are confident to return to full capacity? And, when will that full capacity be reached again? No one knows for sure, and panelist estimates range from one to three years after vaccines start to be deployed • Festivals such as Houston Livestock Show & Rodeo, Galveston Mardi Gras, SXSW in Austin, Fiesta in San Antonio and others across the state bring in billions of dollars to local economies, filling hotels, restaurants, bars, taxis, etc.
“In spite of COVID fears, survey shows that about 22% of fans would return immediately to full stadiums, and “damn the risk;” 17% want to wait for vaccine; 16% would return with no vaccine as long as a sure treatment of COVID existed; 77% would attend if universal mask wearing was ensured.” • In spite of COVID fears, survey shows that about 22% of fans would return immediately to full stadiums, and “damn the risk;” 17% want to wait for vaccine; 16% would return with no vaccine as long as a sure treatment of COVID existed; 77% would attend if universal mask wearing was ensured • Food buffets are currently taboo and post-COVID may not return to previous levels, in spite of Plexiglas barriers and ubiquitous hand sanitizers; when given the chance, most customers/attendees self-distance and do wear masks; with vaccinations beginning, some of the panelists suggest we may be at 75% of pre-COVID capacity in restaurants, bars, and hotels by late spring/early summer 2021…but it will be slow, and incremental as people gain confidence the contamination levels are slowing for good
allow all musicians on stage at once because of distancing requirements • We are at a point where one out of three businesses are in peril and we desperately need more help out of Washington to make it through this crisis • More parks and open spaces in cities may result out of our COVID experience; some large dense cities are losing populations back to the little towns, where people can now work from home and continue to earn their big corporate salaries without having to pay the high cost of living in the dense cities; COVID is resulting in rejuvenation of small satellite towns • We will come out of COVID more grateful as people, as a society
• “COVID views are just as diverse as religious views” • No final decision has been made on the Houston rodeo—it may be allowed to happen but later in the year from its customary springtime show • Focus on cleanliness during this pandemic may have a positive effect on shutting down other transmissible diseases in our society
General Panelist Comments
• Many new habits formed during COVID will continue in our society when the virus has passed; there is some reflexive turn away from mass e-commerce to small local specialty retail and the social contact that comes with it • Smaller restaurants with mostly outdoor seating may be the “new thing” and more economical for the owner to operate; ghost kitchens, with no seating and only take-out and delivery may stay with us; new stadiums, hotels, restaurants and theatres may be smaller in the future; many developers and their architects are “reimagining” the future: shrinking footprints and more reliance on technology (witness the Zoom boom which has arisen out of the pandemic); take-out alcohol has helped restaurant survive this year, and the temporary permission may be made permanent in the next legislature • More concerts may become mobile or out of doors; drive-in movies may permanently return; Broadway shows and the huge revenues they bring to Manhattan may be a long way from returning, with the density of Manhattan being the reason—it is a vertical city and people may remain adverse to mass transit and vertical mass transit via elevators for years to come after COVID—there are many unknowns; symphony orchestras currently cannot
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Tools of the Trade: How technology will enable office workers to return BY BRANDI SMITH
“We soon realised we weren’t the only ones - lots of other companies had similar problems - so we decided to turn Nimway into a commercial solution.” Gunnar Lundgren
As we go to print with this article, the United States has just approved the first COVID-19 vaccine. Experts estimate it will take months before vaccination becomes an option for the general public, but it is a sign that we
are steadily moving toward post-pandemic life. When it comes to certain parts of commercial real estate, that may not look exactly like it did even a year ago.
“To stay ahead of the curve, companies will need to consider key investments across wellness, remote collaboration tools, mobile cybersecurity tech, accessible HR tools, and workforce training programs for professional development and upskilling” Offices emptied at the beginning of the pandemic as companies sent millions of employees home to help prevent the spread of the virus. As we’ve learned more about it and how to protect workers, more are returning to the office. But according to a Qualtrics study, two out of three Americans still feel uncomfortable about returning to their workplace. The CDC outlines its recommendations for bringing workers back, which involves developing a COVID-19 workplace health and safety plan by evaluating whether the building is ready for occupancy, pinpointing weaknesses in the workplace and developing hazard controls. That, in large part, charges property owners and managers with providing peace of mind for their tenants by focusing on outbreak prevention and worker safety in the months ahead. Technology will play an important role in that, enabling employees to feel safer when they return to the office. According to research from CB Insights, “To stay ahead of the curve, companies will need to consider key investments across wellness, remote collaboration tools, mobile cybersecurity tech, accessible HR tools and workforce training programs for professional development and upskilling.” Various new technology offerings have cropped up in the past few months to address the concerns of companies focused on bringing employees back into the office. One example of technology that could aid in the future of office management got its start back in 2017 but is perfectly poised for this moment. “Nimway was initially developed as an internal tool to help Sony’s own employees find their way around the huge campus in Lund, Sweden. With 13 different buildings, people were having a hard time locating meeting rooms, finding available workspaces and even colleagues,” said Lars-Gunnar Lundgren, the head of Nimway. “We soon realized we weren’t the only ones—lots of other companies had similar problems—so we decided to turn Nimway into a commercial solution.” Nimway technology was designed and is being continuously developed with end users in mind, said Lundgren, by supporting employees in their everyday lives and also by providing facility managers with useful occupancy data.
An example: an employee can use Nimway to find and book meeting rooms, which will help companies manage capacity restrictions. Plus, the software’s wayfinding feature guides employees to the chosen meeting room. Nimway also developed new features to help minimize health risks for those who return to the building. Using the technology, employees can book a desk in the office up to 14 days in advance. And when they’ve finished working, Nimway’s desk sensors mark the space as “unavailable” until after it has been cleaned.
FEBRUARY 25, 2021
THE PANTHER DEN A YLC URBAN DESIGN C OMP E T I T I ON
The Panther Den is an Urban Design Competition created by the Young Leaders Council of The Real Estate Council of Greater Fort Worth. The goal is to help young real estate professionals in the Greater Fort Worth area learn about the development process while promoting innovative concepts for difficult and unique sites In Tarrant County.
Visit our website for more info: RECouncilgfw.com
“Nimway allows employees to spend more time and energy on creative and productive tasks. This is fantastic for both staff and business owners since people can put their energy where it really counts. It’s good for company culture …and for the bottom line.” “Obviously Nimway can’t guarantee people’s safety, but what it does is help companies implement the COVID safety policies they’ve decided to apply,” Lundgren said. For that reason, he added, Nimway isn’t encouraging companies to rush into reopening their offices. “Rather, we want to support them with useful tools when their process begins,” said Lundgren. “There are different restrictions in different countries, but one thing we’ve observed everywhere is that it takes time and careful planning to get this right. Our customers are aware of this and that’s why they’re working to get the technology they need in place ahead of time.” Even beyond the pandemic, Nimway allowed users to analyze space utilization and, as a result, improve office layouts. “This reduces the need for additional buildings which, in turn, reduces shortterm raw material use as well as long-term energy consumption,” Lundgren said. “You could say that ‘green’ thinking is built into the Nimway solution.” Companies can also continue using the program as it was originally intended—as a vehicle to eliminate the stress of everyday tasks such as finding a meeting room or colleague. “Nimway allows employees to spend more time and energy on creative and productive tasks. This is fantastic for both staff and business owners since people can put their energy where it really counts,” said Lundgren. “It’s good for company culture … and for the bottom line.” No matter which tools a company chooses to boost employee safety, privacy and morale in the coming months, the office will continue to be a place where workers can connect and innovate—two aspects of work that have been sorely lacking during the pandemic. 20
advertiser index Barshop & Oles Co......................................................................................... 23 Barton Benson Jones.................................................................................... 25 City Management LLC.................................................................................. 9 Cushman & Wakefield of Texas Inc........................................................... 27 Evergreen Design Group.............................................................................. 11 Lane Property Tax Advocates..................................................................... 17 La Marque....................................................................................................... 7 Marcus & Millichap....................................................................................... 2 Marcus & Millichap Houston...................................................................... 42 National Environmental Services, LLC...................................................... 43 Pflugerville Community Development Corporation............................. 29 Phase Engineering......................................................................................... 40 Read King Commercial Real Estate........................................................... 31 The Real Estate Council - Greater Ft. Worth........................................... 19 The Richland Companies............................................................................. 33 RSB Environmental....................................................................................... 3 Worth Associates .......................................................................................... 5 West Star Marketing Group........................................................................ 13 Wilson Cribbs & Goren PC............................................................................ 35
REDnews would like to congratulate the latest inductees into our Texas Commercial Real Estate ICONS Michael Ablon
MLB Capital Partners
J. Cary Barton
Barton Benson Jones PLLC
Robert H. Clay
Clay Development & Construction, Inc.
David L. Cook
Cushman & Wakefield
Phase Engineering, Inc.
Gary S. Farmer
Heritage Title Company
KFM Engineering & Design
Marcus & Millichap
Pflugerville Community Development Corporation
Russell Glen Company
The Richland Companies
Carolyn Hinchey Shaw
Stream Realty Partners
Champion Partners, Ltd.
Catellus Development Corporation
Wilson, Cribbs + Goren
Michael Ablon, the founding partner of PegasusAblon, is a multidisciplinary developer and investor focused on the integration of emerging markets and evolving demographic trends. He has focused his career on studying the underlying paradigm shifts in our cultural tendencies, and working towards building places, spaces, neighborhoods and a city that answers the question of what we really want. “While some focus their profession on one asset class, I have focused mine for the past 30 years on demographic and cultural shifts within the Dallas area,” Ablon said. “The evolution of the experience economy, the digital economy and the maturity of Dallas into one of the largest urban centers in North America won’t slow down, and being a small part of the development community that works towards shaping a city fabric, for all of us, has been a lifelong joy.” Ablon has completed numerous noteworthy projects in the course of his career, including leading the redevelopment of the Dallas Design District from a warehouse/showroom district into a vibrant neighborhood with showrooms, galleries, restaurants, local retailers and lofts and apartments while maintaining the history, vibe and character of the district’s past.
PegasusAblon Dallas, Texas
In addition to the Design District, PegasusAblon aggregated a dominant presence in the Preston Center Office Submarket, Frisco Square, The Harbor in Rockwall, Lower Greenville Avenue and the 7th Street District in Ft. Worth. Ablon’s culture-driven projects include the creation of highly innovative developments including retail, office, and multifamily assets. Ablon received his bachelor of engineering and bachelor of architecture degrees at the University of Texas at Austin and earned his master’s degree from Harvard University. Early in his career, Ablon worked as an apprentice under the world renowned theorist and architect Robert Venturi and has been a visiting lecturer at multiple universities including Harvard and Yale. Amongst other personal awards and recognitions, he was a recipient of a Lloyd Warren Travelling Fellowship in Europe for the Paris Prize Competition, a two-time finalist for the Fulbright United States Scholar Fellowship for architectural theory, named one of the 500 Most Powerful Business Leaders in DFW five times, and the first recipient of the Pioneer Award for Real Estate Impact in Dallas.
SUSAN ARLEDGE, SIOR As executive managing director of Site Selection and Analytics, Susan Arledge specializes in securing optimal locations for clients globally. She focuses on finding locations that reduce attrition, increase productivity, improve quality of service and allow clients to remain competitive by finding a labor force that meets their unique standards. With a career spanning over 35 years, she is a recognized author and frequent speaker on the skills required for site selection, incentive negotiations and tenant representation. “My focus has always been exclusively on tenant representation and site selection for corporate clients,” said Arledge. “My expertise is in identifying and negotiating the best site or real estate location that allows our clients to benefit from talent attraction and retention.” Among the greatest challenges that she has had to overcome during her career was the real estate recession in 2008-2009. While many real estate professionals left the industry and did not return, Arledge points to a number of characteristics that has afforded her a long career.
Executive Managing Director
“Success is this business is all about persistence and resilience, of course, but those alone are not enough,” said Arledge. “ In order to have long-term success, a broker needs four recurring character traits: (1) ability to understand their clients and the client’s business; (2) to be empathetic; (3) to make a personal commitment to each client and (4) to offer creative solutions that meet the client's needs. If you don’t have the ability to provide that last skill, there is not much to differentiate you from the competition.” Among her professional affiliations, Arledge is a member of the Society of Industrial and Office Realtors (SIOR) and has served as the SIOR North Texas chapter president. She also is a member of Leadership Dallas Alumni. She has been named to the Dallas Business Journal’s “Heavy Hitters” and “Forty Under Forty" lists and D CEO has honored her as a “Dallas 500 Leader,” “Power Broker” and “Outstanding Woman in Commercial Real Estate.”
A Stemmons Service Award recipient, she also has been named by Real Estate Forum Magazine as a “Women of Influence.” Away from the office, she enjoys working out, tennis and anything other than watching more Netflix shows.
CONGRATULATIONS! Congratulations to Milo Burdette on being recognized as a Texas Commercial Real Estate Icon! Your partners and colleagues at Barshop & Oles Company are proud of you and your well-earned success. We also send our congratulations and Barshop & Oles Company is a full service commercial real estate development
gratitude to our good friend, Gary Farmer, for his
and management firm based in Austin,
many years of leadership
serving Central and South Texas.
and good deeds for the
www.barshop-oles.com | 512.477.1212
J. FRED BACA As one of the managing principals of MLB Capital Partners, Fred Baca has been on the team since 2013. His leadership, management and marketing skills provide a solid basis for MLB Capital’s accelerated development as a major CRE player. He started out, however, as an entrepreneur. At 24, he developed Baca Publications and “The Baca Report,” the longest-running commercial transaction reporting service in Houston, and the “Commercial Transactions Report” which cataloged sales of non-residential properties. During the 1980s, he developed “The Databank,” a series of commercial property reporting services. In the 1990s his co-venture with Houston-based Stewart Title Company, Baca Landata, developed the first Internet “smart” map of the Greater Houston Area and the first Internet-distributed GIS mapping product for the Harris County Appraisal District. Baca Landata also created the first public record back end to the MLS system allowing Houston-area realtors to instantly research over 2.5 million properties via their proprietary listing tool.
MLB Capital Partners Houston, Texas
The aspect of CRE that Baca most enjoys is getting to know his peers in the industry. He points to the friends and visionaries he encounters as the most rewarding and enjoyable aspect of the business. Building and maintaining those relationships, he said, is impossible without trust. “The foundation of any relationship, whether business or personal, is trust. The best way to be trusted is to be trustworthy,” said Baca. “Integrity, being one with your principles, is key. Be true to your word, treat everyone with respect, do what you say, always do your best, be open to different perspectives, and act principled in everything you do.” Following his years of entrepreneurial endeavors, Baca served as president for Colliers International in Houston and served as president of Mason Partners until it was sold to Avison Young in December 2012. He also joined Cartifact as CEO, where he was on the team that created the mapping technology used by Apple for their map displays. “I always wanted to have a ‘Thank God it’s Monday’ company where everyone was excited to come back from a weekend and get back together and work on exciting goals,” Baca said. “I pretty much enjoy working. It’s not work when you enjoy what you’re doing.”
J. CARY BARTON
Currently the senior member of Barton Benson Jones PLLC, a nine-lawyer firm in San Antonio, Cary Barton has had a long and illustrious career. He both graduated from Harvard Law and joined the State Bar of Texas in 1965. He is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization. Barton served as Attorney-Advisor on the Federal Power Commission in Washington, D.C. for two years and as a Law Clerk for Judge William M. Drennen in the U.S. Tax Court. A United States Air Force veteran, Barton has been in private practice of law in Texas since 1969, with stints in Corpus Christi, Austin and in San Antonio since 1988. A frequent presenter at the State Bar of Texas Advanced Real Estate Law Course, Advanced Real Estate Drafting Course and Advanced Real Estate Strategies Course; and University of Texas Law School Mortgage Lending Institute, he points to staying involved in continuing legal education activities as a writer and as a speaker as a key to his success, among other factors. “I’ve been fortunate enough to be introduced to some very talented, well-regarded and supportive clients,” Barton said, “and tried to follow my first senior partner’s advice of doing the best job I could for a fair price on every assignment I was given.”
Executive Managing Director
Barton Benson Jones PLLC
San Antonio, Texas
Barton was selected as a Texas Super Lawyer in 2003-2020 by Texas Monthly and Law & Politics Magazine, including recognition as one of the Top 50 Lawyers in Central and West Texas in 2006-2007, 2009-2011 and 2018-2020 and one of the Top 100 Texas Super Lawyers in 2007. He is listed in The Best Lawyers in America (Real Estate) (1987-1988 and 1997-2019) and was honored as among The Best Lawyers in America Lawyer of the Year in real estate in San Antonio (2014). He received the lifetime achievement award from the Real Estate, Probate and Trust Law Section of the State Bar of Texas in 2003 for contributions by a distinguished Texas real estate lawyer and was named as one of five 2016 Outstanding 50 Year Texas Lawyers by the Texas Bar Foundation. When not at the office he enjoys spending time with family and friends, bay fishing at Port Aransas and taking road trips through Texas and across the country.
A TRUE TEXAS ICON
J. CARY BARTON As the senior member of Barton Benson Jones PLLC., Mr. Barton has over 50 years of experience and accolades as one of the preeminent lawyers in the State of Texas.
CONGRATULATIONS TO ALL ICON AWARD WINNERS!
LUCY BILLINGSLEY Lucy Billingsley has spent her career in real estate, developing and managing commercial developments. She co-founded Billingsley Company in 1978 hoping to develop lots of properties, have a legitimate business, sleep well at night and have fun along the way. Happily, it worked. From raw land to master planned corporate parks and multifamily neighborhoods she and her partner, husband Henry Billingsley, are involved in every step of design, instruction, leasing and management. International Business Park, Austin Ranch, Cypress Waters and the Arts Plaza campus in Dallas’ Arts District are some of their larger projects. Building a successful real estate business is not without its myriad challenges, but Billingsley has never shied away from them. “There’s the challenge of creating the right strategic approach for your business. There’s the challenge of creating a quality that is superior to others while maintaining costs low and meeting the client’s needs,” Billingsley said. “There are challenges all of the time, and we benefit from these challenges because they enable us to become better.” Her primary civic activities include being a member of Council of Foreign Relations and being on the Boards or Advisory Committees of Southwestern Medical Foundation, Southern Methodist University’s Tower Center for Political Studies and Folsom Institute for Real Estate. Previously, Billingsley founded Chiapas International and was the board chair of both Women for Women International and the Tate Board at Southern Methodist University and served on the Grameen Foundation Board. She was also on the National Geographic Society’s International Council of Advisors, The Real Estate Council, DFW World Affairs Council and the Board of ULI Governing Trustees.
Billingsley Company Dallas, Texas
Billingsley has been inducted into the Texas Business Hall of Fame, the Junior Achievement of Dallas Business Hall of Fame, the NTCAR Hall of Fame and was awarded the 2013 H. Neil Mallon Award. She has also been recognized by CREW as a Distinguished Leader in Commercial Real Estate. Born and raised in Dallas and a graduate of The University of Texas with a B.B.A. in finance, she and Henry currently reside in Dallas. And as for free time? “Being with family is the best! Exercising and getting outside are required; and then when I really have free time, what I want to do is work because work is more fun than play,” Billingsley said.
FRED CALDWELL Fred Caldwell, the president and CEO of Houston-based Caldwell Companies, points to those around him as the pillars of his success. “Our firm has been successful for 30 years in large part due to the amazing team of people we have that are unified around a common goal of honoring God by creating extraordinary communities in both the physical and social sense,” Caldwell said. “Using that as our overriding metric drives a high accountability and helps ensure that our decision making is not for the short term or simply maximizing returns but that our decisions truly make a positive impact on the community around us.” Caldwell added that his wife of 37 years, Susan, “has been a great partner in life which is so helpful in dealing with the day to day challenges of building and leading an organization.” Caldwell Companies serves as a holding company for a family of related companies that develop and construct master planned residential communities; commercial office, retail and mixed-use; multifamily communities and active adult housing. The firm has service business that sell and broker land and provide commercial property leasing and management services. Current planned communities and commercial developments include Towne Lake, The Boardwalk at Towne Lake, Asher Oaks, Willowcreek Ranch, Bridal Creek, Copper Bend, Del Webb Sweetgrass, Mission Ranch, Chambers Creek Ranch and Cypress Crossing.
President & CEO
Caldwell has served on several educational foundations and Texas A&M University boards as well as serving on the JH Ranch International board. He is the author of “Flying Your Business, Leadership Lessons from the Cockpit.”
Caldwell Companies Houston, Texas
A graduate of Texas A&M University, Caldwell received a degree in accounting and a master’s degree in finance while playing football. He was recognized in 2018 as a Distinguished Alumni of Mays Business School. What he most enjoys about commercial real estate is “building extraordinary communities that enrich lives—truly making people’s lives better through their interaction with our developments and our people,” Caldwell said. Away from the office, Caldwell enjoys helping ministries and non-profits grow, building at their ranch and helping families through JH Outback and JH Ranch. Spending time with family, playing golf and traveling, particularly to the West Coast in the summers, are also highlights.
Congratulations! CUSHMAN & WAKEFIELD WOULD LIKE TO CONGRATULATE DAVID COOK. WE ARE PROUD TO HAVE DAVID AS AN INTEGRAL PART OF OUR TEAM.
R O B E R T H . C L AY
Robert Clay, who has been in real estate since his graduation from Texas A&M in 1989, started Clay Development & Construction, Inc. with his father in July 1998. The thing he most enjoys about commercial real estate? The people. “I love meeting business owners and learning about their business,” said Clay. “It is amazing how some people make a living!” Clay began his career with United Equities and Moody Rambin Interests here in Houston. His company, Clay Development & Construction, Inc. is a developer and design/builder of industrial build-to-suit facilities for sale or lease. Over the last 22 years, Clay has developed over 285 industrial and office facilities comprising approximately 17 million square feet, with costs exceeding $1 billion. His projects have run the gamut, from 10,000-square-foot office buildings to 900,000-square-foot distribution facilities. He has been behind 19 industrial parks totaling over 1200 acres of land. “Our company has been successful because we are passionate about what we do, and we make it easy for the client,” Clay said. “We have differentiated ourselves by being a one-stop shop—that includes land development, architectural and engineering design and construction.”
Over the course of his 30-year career, Clay has encountered a number of challenges. The most paramount, he said, has been “letting go of day-to-day operations and trusting that your partners will do it the same way as you.”
Clay Development & Construction, Inc. Houston, Texas
Clay has been married to his wife, Emily, for over 30 years. He has two children, Will and Catherine, both in CRE in Houston. Clay, an avid traveler and hunter, likes to spend free time with family at their ranch in Johnson City and beach house in Cabo San Lucas. He has also been involved with the Houston Livestock Show and Rodeo for 25 years. Past committees/boards that Clay has been on are: Tejas Vaqueros, United Way Accountability Committee, Society of Industrial and Office Realtors, Strake Jesuit College Prep, St. Agnes Academy, St. Dominic Village and Memorial Park Conservancy. He is currently on the board at Uptown Houston and the Belfiore Condo Owners Association.
DAVID L. COOK David Cook, SIOR, CRE, is a vice chairman with Cushman & Wakefield. He specializes in the sale and leasing of commercial, industrial and investment real estate, having completed more than 4,892 assignments valued in excess of $5.2 billion. Bringing more than 50 years of real estate experience to solving a broad range of his clients’ requirements, Cook rapidly became one of the company’s top brokers since joining Cushman & Wakefield. Among those assignments that Cook has been involved in include site acquisitions and dispositions, investment sales, industrial leasing, high-profile land sales, 1031 exchanges and conventional and sealed-bid sales. Since beginning his career in 1967, he has had extensive experience in the marketing and sale of land, including more than 1,600 transactions totaling over 210,000 acres valued at $3.4 billion. A repeat recipient of Cushman & Wakefield’s National Service Excellence Award, he is also a repeat honoree of the company’s Top Global Industrial/Land Broker of the Year for 2002, 2004, 2006, and 2007 2013 and 2015. Awarded the 2020 Strategic Teaming Award by Houston Minority Supplier Development Council in partnership with ARVO Realty Advisors, recognizing the partnership with MBEs. He is a two-time recipient of the Industrial Broker of the Year award from the Houston Chapter of NAIOP Commercial Real Estate Development Association (1993, 1999) and was inducted into the NAIOP Hall of Fame in 2013.
Cushman & Wakefield Houston, Texas
Other accolades include former Commercial Real Estate Professional of the Year and Realtor of the Year by Houston Association of Realtors (HAR), formerly appointed by the Governor of Texas for a six-year term on the Texas Real Estate Commission and was named its Chairman in 1988 and he is a Designated Counselor of Real Estate (CRE) by the prestigious real estate society, the Counselors of Real Estate. Active in the local, state and national levels of various realtor organizations, serving in many leadership capacities, including President of the Houston Association of Realtors, Clay has also served on several boards, including the ESCAPE Center for the Prevention of Child Abuse and the Market Square Historic District, and as past President of the Exchange Club of the Magic Circle. He is a member and former Vice President of the Houston chapter of CoreNet, as well as being a member of the Society of Industrial and Office Realtors (SIOR) since 1976 and serving as President of its Houston Gulf Coast Chapter and on its National Executive Committee.
M E L A N I E E D M U N D S O N , P. G . Melanie Edmundson, P.G. is owner of Phase Engineering, Inc. and has over 30 years’ experience and holds several related licenses in the environmental field. She caters mostly to the commercial real estate transactional market. “As a woman business owner, I feel that I successfully run an ethical business and won’t compromise on any work my company performs which helps keep the commercial real estate industry in check and honest with what my business can offer. Every time we find a contaminated property and get to help on getting that property cleaned up, that is just one small way I get to serve better our clients and our planet. I have found that staying true to yourself and everyone along the way always brings rewards back to you one way or another.” She has received many accolades including CREW Top 15 Women in CRE, CREW local legends award, and RMA Board Member of the year award. Edmundson has written many articles for industry magazines including RMA, IREM, BOMA and REDNEWS. Edmundson’s professional affiliations and leadership roles include Houston CREW charter member, CREW Careers as a presenter and emcee, team captain for the CREW Komen team, HBJ Landmark Awards judge, South Texas College of Law MCE Planning Board and ACRP past president. Edmundson has been involved with many charitable organizations over the years and served on the ASTM committee that helped the EPA create the latest federal regulation for performing Phase I Environmental Site Assessments. For over 25 years, Edmundson has conducted lender and broker training and participates regularly on panel discussions for environmental education on standards and regulations and helps create and updates lending institutions internal environmental risk policies. “You must be constantly present and aware of your environment to become and to remain successful.”
Phase Engineering, Inc. Houston, Texas
Edmundson is passionate about her business and the lasting friendships that have developed along the way. “When it comes to clients, listening is key. You need to hear their needs and be available to help solve their issues when they really need you and let them know you’re going to be there to help get their deal done and find a way to make it happen.” She cites finding equilibrium between her home and work life the most challenging part of her career and it is still a work in progress and mostly due to some major personal events in her life the last several years including the most recent untimely passing of her deeply devoted husband and father to their 7-year-old son. “I recently lost my dear, sweet, loving and supportive husband, Gil, who many in the industry knew well,” Edmundson said. “Gil was instrumental in enabling me to achieve success in my business. His unconditional love and support for me and our son, Richie, was truly a blessing in our lives.”
Congratulations commerical real estate icon nominees!
Welcoming Amazon and our newest neighbor, Tesla! Minutes from downtown Austin, Pflugerville offers fast-permitting processes, proximity to airports, and direct access to three super highways putting it on a short list for many companies. With over 2,000 prime acres along major highways available for development, come see what Pflugerville can do for you! Highly Skilled Workforce • Foreign Trade Zone 183 • Deregulated Electric Rates • Triple Freeport • Opportunity Zone
www.pfdevelopment.com • (512)-990-3725 • JANUARY 2021
GARY S. FARMER
Gary Farmer is president of Heritage Title Company of Austin, Inc. and has been in the title insurance business since 1985. During his tenure, Heritage has been recognized for its excellence in the commercial title insurance arena as it has grown to be among the largest independently owned title agencies in Texas. “As a title Insurance company working primarily in the commercial real estate arena, we have the good fortune to work with all segments of the marketplace—principals, brokers, lenders and lawyers—so it is a pleasure to work with the various professionals as deals progress from negotiation through a successful conclusion,” Farmer said. Farmer is involved in a variety of civic and charitable endeavors. Currently, he serves as chairman of the Greater Austin Economic Development Corporation, Opportunity Austin 4.0 Campaign and co-chair of the Waller Creek Conservancy Capital Campaign. Additionally, Farmer serves as a board member of the following organizations: The University of Texas Chancellor’s Council, The University of Texas Development Board, the President’s Council of The Real Estate Council of Austin, the National Multi Housing Council and The Waller Creek Conservancy.
Heritage Title Company Austin, Texas
Farmer founded the Greater Austin Economic Development Corporation in 2003 and has served as its chairman for 11 years. He is the past chair of Opportunity Austin (1.0, 2.0 and 3.0), past chair of Advantage Austin III, co-Founder and Past Chair of The Real Estate Council of Austin, past chair of Capital Area Transportation Coalition, past chair of Take on Traffic Initiative, past chair of Caritas Community Advisory Board (two terms), and has served as a board member on numerous other civic and charitable boards. He has chaired/co-chaired eight capital campaigns which have raised approximately $145 million for community endeavors. Additionally, Farmer has served on three Mayoral Task Forces dealing with the economy, the environment and healthcare. Farmer and his wife, Susan, are graduates of The University of Texas, the proud parents of three daughters and members of Tarrytown United Methodist Church. In his spare time he enjoys hunting and fishing in various parts of Texas, California wines, travel to exciting destinations and being with family and friends.
to the 2020 Texas Commercial Real Estate Icons
Developing experiences. BuilDing communities. enriching lives.
With more than
3 MILLION SF OF CLASS-A RETAIL
reaD King is houstonâ€™s premier horizontal mixeD-use Developer www.Read-King.com
CRAIG HALL Craig Hall is an entrepreneur, New York Times bestselling author, vintner and philanthropist. The founder and chairman of HALL Group, he formed the firm in 1968 at age 18 with $4,000 saved from small ventures that began at age 10. “Today, we are active in real estate development, ownership and management and have multiple large-scale, mixed-use developments,” Hall said, “and also provide construction financing for ground-up developments across the U.S. with our lending company HALL Structured Finance.” Hall actively supports new entrepreneurs, nurtures young startups and often speaks publicly about the importance of encouraging entrepreneurship worldwide. The greatest piece of advice he has to offer is to trust your instincts, even when others don’t see your vision. “I bought and developed farmland in Frisco in the late-1980s, before the Dallas North Tollway fully expanded through the suburban city and before developers remotely saw any potential,” Hall said. “Today, HALL Park is a 162-acre development with more than 2.2 million square feet of office space in what is now one of the fastest growing cities in the United States. While I certainly consider us lucky, I also believe that risk-taking is a critical component to success.”
Founder & Chairman
Together with his wife Kathryn, Hall has funded the Fulbright – Kathryn and Craig Hall Distinguished Chair for Entrepreneurship to teach entrepreneurship in Eastern Europe. He also founded the Dallas Regional Office of NFTE (Network for Teaching Entrepreneurship).
“Over the years, I have weathered six significant downturns, from the Savings & Loan Crisis in the mid-1980s to the unprecedented crisis we are facing today amid the COVID-19 pandemic,” said Hall. “Each downturn has been different, and we have learned a lot as a company while we have fought to survive. While they are all challenging, we come out the other side stronger as a team and often find opportunities for growth.”
In response to the COVID-19 shutdowns, Hall provided the seed funding for the Revive Dallas Relief Fund, which supports small businesses primarily owned by women and people of color that have been impacted by the pandemic. He is also the author of seven published books, including his most recent, BOOM: Bridging the Opportunity Gap to Reignite Startups, which was published in May 2019.
J I M K N I G H T , P. E . Jim Knight, one of the founders of KFM Engineering & Design, has long been recognized as a leader in the design, planning, real estate and land development communities. Why? Knight has that rare ability to find the best possible solutions to any real estate challenge, creating success for all the parties involved in often complex CRE projects. Like most successful CRE professionals, Knight doesn't rely on any secret formula for success. Instead, he works hard and is honest with his clients. That combination has paid off. "Work ethic and honesty," Knight said when asked how he's built such a successful career. "I can assure you, no other consultant or engineer is willing to outwork me. That with a combination of market knowledge puts you in the position to 'take the last shot.' I have never been afraid of losing. I just want to be in the game and have the opportunity to win." Throughout his almost 40 years of experience, Knight has managed large and diverse teams of professionals working on complicated, large-scale public and private-sector projects. During the last four decades, he has worked on some of the most important CRE projects in the state. These projects include Village Walk in Irving, the Spire in Dallas, The Domain in Austin, Montgomery Farms in Allen and Tech. Ridge in Austin. And when faced with challenges on these projects, Knight relied on what his peers call his outstanding communication skills to build consensus among disparate stakeholders. His fellow CRE pros say that Knight has a knack for finding solutions to problems that stump most others.
KFM Engineering & Design Grapevine, Texas
Knight is also committed to serving his community and sits on several boards and commissions. He served as chairman of The Real Estate Council in 2019, is a former president of the Real Estate Council of Austin and formerly served on the Board of Directors of the Dallas Regional Chamber and Downtown Dallas, Inc. Knight's advice on what it takes to build a thriving career in his field? He recommends that engineers/consultants meet with and help as many people as they can. This requires effort above and beyond, because success is not built in a 40-hour work week. The true success comes in the effort given, but not required. The extra work involved in this pays off, Knight said. "I genuinely care about others more than I do about my success," he said. "Help others and in the long run you will be fine. It is not about the money. You must be the best at anything for the money to follow. Just worry about being the best and caring about others first and foremost." When he's not working, Knight prefers spending time with his wife, children and grandchildren. "I love my family more than life itself," Knight said. Knight also enjoys golf and, when it's time to relax, playing the guitar.
PHILIP LEVY During his 16-year career, Philip Levy has closed more than 600 CRE transactions for more than $1.9 billion. Those are impressive numbers. How has Levy reached them? His peers say that no one boasts a deeper knowledge of Texas market trends. And no one outworks this industry veteran. That combination means that Levy consistently ranks as one of the top-producing agents with Marcus & Millichap, not only in the state of Texas but nationally, too. Levy's clients know that they can trust this CRE icon to work tirelessly for them. He has spent his entire career in the real estate business at Marcus & Millichap, selling shopping centers. This has given him an expertise that less-experienced CRE professionals simply lack. Levy's clients recognize him as a top source of retail and net lease insight. What has Levy enjoyed most about his career? The people. "Meeting and working with people, understanding what they need or want and then executing a plan to help them achieve their goals," Levy said when asked what he appreciates most about the commercial real estate business.
Senior Managing Director of Investments
Marcus & Millichap Dallas, Texas
Levy started his career at Marcus & Millichap in 2004 as an agent in the company's Dallas office. He worked hard here and honed his skills, growing a deep interest in the retail market. Levy also perfected his approach in matching retail and net lease properties with investors. Today, Levy has risen to become a senior managing director of investments at Marcus & Millichap. His advice to others looking to succeed in this field? It's relatively simple: "Always be aware of what’s going on around you, always be available and accountable to your clients and commit to providing them the most up-to-date information to help them make informed decisions," Levy said. When not working, Levy enjoys spending time with his wife and two daughters. The Levys are a family that travel together, exploring new places, experiences and food. Levy also enjoys wake surfing, jet skiing, exercising or just relaxing on the lake or beach.
AMY MADISON, CECD, EDFP How effective has Amy Madison been in her role as executive director of the Pflugerville Community Development Corporation? Since starting her term in 2014, Madison has recruited or assisted in expanding 54 projects that have brought more than 7.1 million square feet of expansion and 4,097 fulltime jobs to the Pflugerville region. The financial impact of these projects has been vast. They added an estimated $621 million to the local tax base for Pflugerville, one of the fastest-growth cities in the United States. Notching these successes isn't easy. But Madison has never shied away from a challenge during her more than two decades in economic development. "I love the challenge," she said. "Every deal is different and presents an ever-changing landscape mixed with politicians, landowners, developers and property development issues. The profession demands creative problem-solving along with the ability to assemble a variety of personalities, perspectives, desires and goals to achieve an all-win. Love it!" Under Madison's leadership, the Pflugerville Community Development Corporation has been recognized as an Accredited Economic Development Organization in 2019 by the International Economic Development Corporation. In 2020, the organization received the gold award for Economic Development Organization of the Year.
Pflugerville Community Development Corporation Pflugerville, Texas
And those aren't the only honors the corporation has received under Madison's leadership. The Pflugerville Community Development Corporation received top honors from the Texas Economic Development Council for having recruited Amazon Services LLC, a 3.8-million-square-foot facility that brought 1,000 job opportunities to the Pflugerville community and contributed $250 million to the tax base during the COVID-19 pandemic. Madison points to that project as her biggest challenge … so far. The project had to be annexed, removed from a municipal utility district and receive entitlements to break ground and begin construction in February. Madison and the corporation also had to lobby and petition the county for essential status so that construction could continue. "It was not a done deal until Amazon finally announced the project in July," Madison said. "The city provided an aggressive schedule. Working with the company and the landowner, we made it happen in spite of COVID." As with many CRE professionals, Madison relies on a simple formula for success. "Building relationships is what it's all about," she said. "This business can be very difficult, and trust is hard to achieve. But it is always what I strive to create. We all compete for projects, but keeping the integrity of relationships built in this industry provides the win in the end." When not working—and during the pandemic—Madison has enjoyed gardening, power walking, riding her mountain bike and singing.
TERRENCE MAIDEN Inspirational. That's how Terrence Maiden's peers describe this industry veteran and chief executive officer of Dallas-based real estate and development company Russell Glen. Maiden's fellow CRE professionals point to his leadership skills and vision as two of the most important factors in his success. They also cite his market knowledge, honesty and work ethic. It all adds up to an impressive career of more than two decades. Today, Maiden continues to make his mark in the Dallas commercial real estate industry. An example of the work he is doing today? He is currently at the forefront of the high-profile $200 million redevelopment of the former Red Bird Mall in Dallas. This isn't to say that forging a successful CRE career, especially in what has largely been an industry dominated by white men, has not been without challenges. "The commercial real estate industry has been dominated by middle-aged white men," Maiden said. "Being young and African American often presents various cultural and relationship gaps. This gap has inspired me to work harder and to be intentional in my efforts of building trust and confidence in my ability." Before he established Russell Glen, Maiden gained valuable experience as the executive vice president of Corinth Properties. While there, he worked on such important projects as Glen Oaks Crossings, Canyon in Oak Cliff, Alexan West Dallas and the redevelopment of the Sears store at Richardson Square.
Chief Executive Officer/ Managing Partner
Despite his busy career, Maiden finds time to give back to his community. He is the chairman of the Maiden Foundation, a nonprofit organization that invests in education and community revitalization projects. He is also active with Methodist Health System, University of North Texas Dallas Foundation, Harmony Community Development Corp., Dallas Black Dance Theater and the Texas Christian Black Alumni Association. "I believe my work in real estate serves a much greater purpose," Maiden said. "Because many of the communities I am most drawn to have historically been underserved and under-invested, it requires a deep level of inspired boldness to move these projects forward. Secondly, I learned early that if you can creatively and earnestly provide people what they need, you will remain relevant and valuable."
Russell Glen Company
Those working in and around the Dallas area have taken notice of Maiden's contributions to his industry and community. He has been listed as one of Dallas' 500 most influential leaders by D CEO Magazine. For eight consecutive years, he has been named to the Dallas Power Broker list. And in 2019 he was named Power Broker of the Year by D CEO Magazine.
Outside of work, Maiden enjoys spending quality time with his family and friends. He also enjoys training and working out whenever possible.
EDNA MEYER-NELSON There is a reason why Edna Meyer-Nelson is considered one of the icons of Texas' commercial real estate industry: During her career of more than three decades, Meyer-Nelson has not only built one of the most successful real estate investment companies in the Southwest, she's also contributed to her community and industry. And she's done this all in a business that is still largely dominated by men. The numbers show just how successful Meyer-Nelson has been in her career: Since founding Houston-based investment firm Richland Companies in 1993, she has amassed a portfolio of 35 properties in five states. Those properties represent more than 2.5 million square feet valued at more than $250 million. As president and chief executive officer, Meyer-Nelson leads all business activities for Richland's many divisions. It's under her leadership that this company has thrived. Today, Meyer-Nelson continues to build The Richland Companies and serve as a role model to other women who want to make their mark in commercial real estate. "The greatest challenge has been competing in a male-dominated industry, although I’ve seen a drastic change in the last five years," Meyer-Nelson said. "I’m thrilled women are taking leadership roles in various capacities." Meyer-Nelson's peers recognize just how important she has been to the Texas real estate industry. She was awarded the Sue Trammell Whitfield Award for Resiliency from The Women's Fund and was named an Executive of the Year and Woman of the Year finalist by REDnews in 2020.
Founder, President, Chief Executive Officer
In 2018, Meyer-Nelson became one of 48 women in the United States inducted into Real Estate Forum's Women of Influence Hall of Fame. A year earlier, she became the first woman to receive the Houston Business Journal's Landmark Lifetime Achievement Award and was honored with CREW Houston's first Circle of Excellence Award. Meyer-Nelson has achieved all this through that most important of traits: She’s not afraid to work hard. She also never gives up on a deal.
The Richland Companies
"I think I’ve been successful because I have tenacity and drive," Meyer-Nelson said. "I study the subject of commercial real estate. I’m involved in industry organizations and understand the importance of mentoring and teaching the next generations." Meyer-Nelson has also found time to give back to her community. A longtime board member of Houston Children's Charity, in 2009 Meyer-Nelson became that organization's first female president. She also serves on the board of the Houston Police Foundation and is a member of The Cooley Circle, a charter member of Baylor Research Advocates for Student Scientists, a recipient of the CAP Cherished Companion Award and a supporter of Houston Crime Stoppers.
When not working, Meyer-Nelson is an avid golfer. She also enjoys spending time with her Pomeranian puppy. And in 2021? She's looking forward to traveling once again.
B O B P A R S L E Y, S I O R Consistency matters. And few commercial brokers have been as consistent as Colliers International's Bob Parsley. This industry veteran—he's logged 38 years in the business—has been one of the top two producers in Colliers' Houston office for the last 15 years. He's also been a winner of the Colliers Everest Award, presented to the top 10 percent of producers for Colliers International in North America, since the award was created. This consistency has paid off. Consider Parsley's 2019: He executed more than $403 million of deals. Parsley is one of those lucky few who have found their ideal career match. In fact, Parsley cites three loves in his life: His family, including his wife Louise and his three children, Elizabeth, Bayless and Garland, whom Parsley says have supported him through the ups and downs of his career. He also pointed to two institutions that he says helped mold him as a person: Strake Jesuit College Prep in Houston and the University of Virginia in Charlottesville, Virginia. And the third love? Colliers International Houston. "I have spent more than half of my life with this organization," Parsley said. "I am proud to have helped grow the company from a small group of individuals to one of the leading commercial real estate organizations in the greater Houston market. The relationships that I have developed at Colliers, not only with the other professionals but also with our staff, and especially with my longtime assistant Lisa Sims, are some of my cherished and abiding achievements."
Chairman and Principal
Parsley didn't start a career in real estate immediately after graduating from college. He first worked as an attorney in a major Houston law firm. After four years, and feeling unfulfilled, he left to join Colliers in Houston. "With a one-month-old baby and a deteriorating economy, it was an unusual and challenging decision," Parsley said. "With the support of my wife, we not only survived a backbreaking recession in the '80s and early '90s, but also succeeded and are still standing." What steps has Parsley taken to succeed in this business?
Colliers International Houston, Texas
He cites integrity as the most important. You must be honest and ethical with your clients. Parsley is also a people person. People are attracted to him because he is genuinely interested in them and invested in their needs and goals. Work ethic matters, too, of course, and no one outworks Parsley. His goal is to be successful in every project he takes on. Parsley also understands how important teams are. He is a team builder, something he says allows him to leverage his time on multiple projects. Finally, he never stops learning. Parsley says that he is constantly studying new technologies and corporate philosophies. Outside of work, Parsley enjoys spending time with family and friends. You might also find him on the golf course or participating in other sports-related activities. And when it's time to relax, he enjoys traveling to his homes in Charlottesville, Virginia, and Hunt, Texas.
JEFF READ Jeff Read co-founded Read King Commercial Real Estate in 1991, and he currently serves as a Principal and Managing Partner, overseeing the firm’s strategic planning, capitalization and major tenant relationships. Under his leadership, Read King has grown into a leading retail, medical office, and build-to-suit developer in the Southwest. In addition, the company provides full-service brokerage and property management services for its own account and for select clients. Within the past 20 years, Read King Commercial has developed more than 3 million square feet of Class-A retail space, more than 30 medical office properties and dozens of build-to-suit projects. The firm has also recently expanded its development expertise to include office condominium and luxury multifamily to complement its horizontal mixed-use initiative. Why has Read been so successful? He points to putting his clients first.
Read King Commercial Real Estate Houston, Texas
“My view is that it really comes down to consistently maintaining a high level of integrity while prioritizing relationships ahead of dollars,” Read said. “The really successful long-term players in our industry are those who focus on doing the right thing, who look for the win/win in each deal or issue and who have fun along the way. Throughout my career, I have been blessed to work with many of those individuals who have encouraged and inspired me.” In 2016, Read co-founded Front Row Development, a wholly owned subsidiary of Read King, focusing on single-tenant buildto-suit development for retail, restaurant and medical clients. Since its founding, Front Row has completed—or has under development—projects with a combined market value of over $300 million. Prior to founding Read King Commercial, Read was an independent broker specializing in retail tenant representation. In that capacity, he completed more than 250 transactions for tenants such as IHOP, Taco Cabana, Walgreens, Whataburger, World Gym, Carrabba’s, Sonic and Amy’s Ice Cream. Read is a native Houstonian. He has been active in retail brokerage, investment and development since earning his BBA in Finance/Real Estate from Baylor University in 1982, where he met Lauren, his wife and most trusted advisor of 33 years. Jeff and Lauren have four adult children: Austin, Travis, Bryan, and Caroline. Austin and Travis are currently employed at Read King. Read is active in numerous real estate, social and charitable organizations. His spare time is spent with family and friends, and
C A R O LY N H I N C H E Y S H A W Since joining Stream Realty Partners, Carolyn Hinchey Shaw has contributed to closing more than 370 transactions totaling 5 million square feet and nearly $300 million. And this production includes some big deals. Hinchey Shaw has closed seven investment sales projects totaling more than $90 million. She has also co-led multiple principal projects for the office, including five property acquisitions, three office developments, three industrial developments and one medical office building, with these deals spanning more than 1.5 million square feet of assets. The secret to Hinchey Shaw’s success? Her peers point to her deep understanding of real estate economics and her experience across all aspects of the industry. Thanks to this winning combination, Hinchey Shaw is recognized as an invaluable leader at Stream. Hinchey Shaw is fortunate: She has found the perfect business for her skillset. She's also found a career that she loves, pointing to the people she's met and the fact that every day is different. "I've got amazing partners, clients and coworkers who make projects fun, and the collaboration that happens when we come together to accomplish a goal is so rewarding," Hinchey Shaw said. "Because every deal is different, you learn something new with each transaction or project. I'll never find myself bored because I'm constantly learning and evolving. Redundancy doesn't exist!" Hinchey Shaw recognizes, too, that she has much more to learn and accomplish in this career. Because of this, she continually strives to learn more about her industry.
Stream Realty Partners
San Antonio, Texas
"The way I see it, I'm in the first lap of a long-distance race," Hinchey Shaw said. "And while I've experienced wins and some immediate successes, I don't consider myself successful just yet. I tihnk to be truly successful, you have to make an impact greater than yourself. You need to be the sponsor, supporter and mentor that helps bring up the next generation." Hinchey Shaw has also found time to give back to her profession and community. She is a member of Stream’s Environmental Social Governance Committee and serves on The University of Texas at Austin Real Estate Center Council’s Executive Committee and Board of Directors and chairs the Associate Council. Hinchey Shaw is also active in the local ULI chapter, where she sits on the San Antonio Owner and Developer Council. Hinchey Shaw, though, considers her greatest achievements to be her marriage to Robert Shaw and the five-year old triplets they share: Bobby, Reeves and Liam. Hinchey Shaw also enjoys hunting, fishing, cooking and baking. "As my kids have gotten older, it's even more fun to share my passions and hobbies with them," she said. "They love to help me with holiday cookies or sit in a deer blind as we watch in anticipation. And if I need to be completely honest, one of my favorite little pleasures is a straight-up dry vodka martini with blue cheese olives."
JEFFREY SWOPE For more than four decades, Jeffrey Swope has been a force in the Dallas-area commercial real estate business. He's made an impact not only through his deal making prowess, but also with his commitment to his industry and community. Some examples? Swope was the founding chairman of the Real Estate Council and founding chairman of the Real Estate and Finance Center at the University of Texas at Austin. He is also a trustee of the Urban Land Institute and serves as a director of the Urban Land Institute Foundation. Swope also serves on the University of Texas at Austin Business School Advisory Board, as a trustee of the Business School Foundation and as a Founding Advisory Board member of the Center for Leadership and Ethics at the University of Texas. His achievements and willingness to serve his industry have not gone unnoticed. Swope was recognized as a Hall of Fame member of both the McCombs School of Business at the University of Texas and the Dallas Board of Commercial Developers. For Swope, the real rewards of commercial real estate, though, aren't the honors he's received or even the many developments and investments he's closed. What he enjoys most about commercial real estate are the relationships he's built.
Founder, Managing Partner
Champion Partners, Ltd. Dallas, Texas
"I've made countless acquaintances in this business over the years, and I feel incredibly blessed to call so many of them my friends," Swope said. "Some of them I've known since the mid-1970s." This doesn't mean that Swope hasn't faced challenges during his long career. Some of them even forced him to refocus his career goals. "The real estate depression in Texas during 1987 through 1991 was a game changer for me," Swope said. "After experiencing that, my previous goal of helping to build and lead a large real estate organization was modified toward being someone who has a sustainable life-work balance and at the same time keeping the entrepreneurial spirit in a range of endeavors." Swope's advice to others in this business? It's relatively simple: "Be curious. Be proactive," he said. "Encourage others. Think win-win. Begin with eternity in mind." When not working, Swope most enjoys spending time with his family, working on his ranch and reading, as he says, "widely and wisely."
GREGORY J. WEAVER How busy is Greg Weaver? A quick look at the projects and redevelopments he is overseeing for Catellus Development Corporation tell the tale: • The Mueller airport redevelopment, a 700-acre mixed-use development located just three miles from downtown Austin; • Novus Innovation Corridor at ASU, the 330-acre redevelopment of the Arizona State University Athletic Facilities District adjacent to Tempe Town Lake; • Prairie Glen Corporate Center, a 92-acre corporate campus that is part of the 1,200-acre Glenview Naval Air Station redevelopment in Glenview, Illinois; • Willow Grove Naval Air-Station, an 862-acre redevelopment in Horsham, Pennsylvania. That's an impressive list. But to anyone who knows Weaver and his nearly 30-yeaer career, it's not a surprising one. This industry veteran is no stranger to big projects. He joined Catellus in 2000 as director of development and was quickly introduced to mixed-use redevelopment with the development of commercial deals for the Stapleton Business Center, part of the Stapleton Airport redevelopment in Denver. Since then? Weaver has been tackling big projects for Catellus, developments that are positively impacting cities across the country. “The thing that I enjoy the most is the creative problem-solving that comes with the job,” Weaver said. “Every day, there is some new challenge to overcome, whether it’s big or small. Sometimes, the challenge is both unique and intense, and it requires working together with a team to come up with the best solution to that specific situation. It’s those moments that really energize me and everyone at Catellus.” Beyond his responsibilities at Catellus, Weaver is actively involved with the Urban Land Institute, both at a local and national level. He is the past president and past governance chair of the Austin District Council and is a member of the Public/Private Partnership Council (Blue Flight).
Executive Vice President
Weaver is also civically engaged in his hometown of Austin, where he serves on the nonprofit boards of the Austin Parks Foundation, the Mueller Foundation, the Austin American Heart Association and St. Andrew’s Episcopal School. He and his wife Jessica are active contributors to a variety of civic organizations and programs, including ZACH Theatre, Leadership Austin, the Austin Community Foundation and the Thinkery children’s museum.
Catellus Development Corporation
Weaver says that he is lucky: He's found a career that is the perfect fit for his personality. He says he's fortunate, too, to have had mentors at Catellus and in the communities where he's worked who have offered sound advice to help him build his career.
One of the other keys to Weaver's success? Patience. "I have the patience to appreciate the fact that the real estate development business is a long-term process," Weaver said. "Even if a deal comes together quickly or a building design is approved with few modifications, the overall timetable for any project is always extensive. Even after an organization moves into a development, that place will be around for generations. You have to be patient, methodical and strategic from the very beginning to the end to ensure satisfaction well after you move onto the next project." When not working, Weaver and his wife enjoy traveling the world, skiing, biking, Tex-Mex and Texas barbecue, live music and the performing arts with their two sons.
REID WILSON Reid Wilson ranks as one of Texas' most respected land use attorneys. Why? He works tirelessly to earn the best results for his clients. His peers describe Wilson as a critical thinker, problem-solver and creative strategist. They also point to his skills as a negotiator. These abilities have served Wilson well as he advocates for a roster of clients that includes residential and commercial developers, property owners, Fortune 500 companies and the owners and operators of industrial sites. Wilson also boasts an in-depth knowledge of the laws governing the land use rights of religious organizations. He's an expert on the constitutional and statutory exceptions granted to these organizations under state and federal law. Reid's practice entails work related to both public and private land use regulations, such as deed restrictions, easements, development agreements, platting, economic development incentives, permitting and denial of permitsand traditional land use matters. “I’ve always focused on deal-making and problem-solving,” Wilson said. “Being in an industry where my best qualities are highlighted helps. Plus, I’ve tried to treat all parties involved fairly, while maintaining the highest level of professionalism in my practice. The real estate industry is a small town. To succeed, you must develop a personal business reputation of integrity and straight dealing.”
Wilson Cribbs + Goren Houston, Texas
Wilson also gives back to his profession and his community. As chair of the Real Estate, Probate and Trust Law Section of the State Bar of Texas, Wilson leads more than 9,200 members. Under his leadership, REPTL is working to update and upgrade relevant laws. Last year, Texas Lawyer magazine selected him to receive its Lifetime Achievement Award, which recognizes lawyers who have made their mark on the state’s legal profession. A former District Council Chair of the Urban Land Institute’s Houston chapter, Wilson has been a long-term contributor to the growth of that council. A prolific speaker and writer, Wilson has a large library of article and presentations to both real estate and legal groups. Outside of work, Wilson enjoys playing tennis, traveling and spending time with his family at their ranch in Boerne, Texas. “The real estate industry is full of positive, forward-thinking, problem-solving and creative professionals,” Wilson said. “I consider myself lucky to be able to sit at the table alongside them. I love problem-solving, and, luckily, there are lots of problems to solve! Unlike many lawyers, I try not to focus on the process, but rather on the conclusion.”
MORGAN hires Jason Hauck as Regional Development Partner
1 Caldwell Co Celebrating at Pucket Island Naming. 2 Caldwell Cos officially name island at Puckett Island celebrating Kent Pucketts retirement. 3 November 2020 Crew Austin Golf Tournament. 4 North Texas CCIM Chapter. 5 Corenet Global Houston Chapter Golf Tournament November 2020. 6 Nov 2020 Crew Austin Congrats to the following members for receiving milestone awards - Elise Giles 5 years Elena Cutshall 5 years - Amy Hurst 5 years - Sarah Scott 10 Years
MORGAN, a leader in multifamily development, construction, acquisitions and property management, today announced changes in its Central Region with the hiring of Jason Hauck as Regional Development Partner. Jason will be responsible for overseeing MORGAN’s continued growth in the Texas market, opening a new regional office in Austin. “Jason brings great experience to MORGAN, especially in Dallas, Austin and San Antonio, where we are looking to expand our Texas presence. I couldn’t be more excited to work with Jason.” Evan Schlecker, EVP, who oversees MORGAN’s development activities across the Eastern and Central regions, said: “Jason brings great experience to MORGAN, especially in Dallas, Austin and San Antonio, where we are looking to expand our Texas presence. I couldn’t be more excited to work with Jason.” Jason joins MORGAN from Trinsic Residential Group where he spent nine years, most recently as Development Director of Central Texas. During his time with Trinsic, he was instrumental in developing more than 7,000 multifamily units, utilizing more than $1 billion of capital investment in Dallas/Fort Worth, Austin, San Antonio and surrounding suburbs. Prior to joining Trinsic, Jason worked for Bank of Texas in its commercial real estate division and is a graduate of Texas Christian University’s Neeley School of Business. “MORGAN’s longstanding commitment to excellence, evident in their high-quality developments, outstanding company culture and thoughtful community involvement, immediately grabbed my attention,” Jason said. “I’m excited to be part of MORGAN’s team and to continue building on an incredible track record in Texas. Houston has always been an active market for MORGAN. I’m looking forward to continuing that tradition and bringing the same level of focus to Dallas, Austin and San Antonio, tapping into the full extent of Texas’ tremendous growth trajectory.” About MORGAN Morgan Group (“MORGAN”) is a vertically integrated, third generation family business that invests in multifamily housing through development and acquisitions in high growth US markets. In its history, MORGAN has built or acquired over $3 billion of multifamily assets, consisting of over 20,000 units. Currently, MORGAN’s owned and managed portfolio consists of more than 10,000 units across Texas, California, Arizona, Colorado and Florida. MORGAN has been headquartered in Houston since 1959 and currently has regional offices in Denver and Miami. In 2019, MORGAN was ranked as the #1 medium sized company to work for by the Houston Chronicle. MORGAN has fostered valuable relationships and strategic partnerships throughout its 60-year history and attributes much of its success to its family values and entrepreneurial, team-oriented culture. For more information about MORGAN, visit www.morgangroup.com.
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