REDnews January 2022 Magazine

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IN THIS ISSUE Features “It’s everywhere”: Demand for Houston industrial space on the rise After several years of lagging new supply, To say that 2021 was a busy year for the team at CenterPoint Properties is an understatement.


Major Texas retail markets are back to pre-pandemic vacancy levels Despite the ongoing nature of the COVID pandemic, there are not only signs of life for Texas retail, but an indicator that the health of the retail market is strong.




Mature & diverse: Predictions for the Dallas office market in 2022 The Dallas office market isn’t just showing renewed signs of life in a post-COVID world, it’s blossoming.



CCIM November Luncheon A recap of the event.


2021 Texas Icons




CRE Marketplace

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STAFF WRITERS Ray Hankamer Brandi Smith



ADVERTISING & CONFERENCE SALES Ginger Wheless Tressa Mogas Barzilla Jeff Johnson Jessica Johnson



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“Texas grew by 4 million residents between the 2010 and 2020 census, the largest population increase of any state.” Have you heard the news? Millions are moving to Texas. I’m just being facetious — of course you already know this. In fact, it’s something that you encounter on a daily basis. The New York Times recently published an interactive story about how many people are moving to Texas, and it’s an interesting exercise in visualizing abstract numbers in a way that makes them feel more real and tangible. So, why is it that so many people are moving to Texas, and will likely continue to do so in 2022? The New York Times piece looks at key variables such as affordability, diversity, climate, and jobs, and circled the Dallas area as the place that hits all of the metrics. And it’s these reasons why Californians make up the majority of those who are relocating to Texas. Interestingly, Californians have been the top group moving to Texas for nearly the last two decades. And no doubt, there has been a tremendous inflow just in the last decade. Texas grew by 4 million residents between the 2010 and 2020 census, the largest population increase of any state. A population boom can be a double-edged sword however. If there is enough migration to Texas cities without improvements in infrastructure and expansion of housing, major Texas cities could go the way of California. In fact, Austin is already one of the most expensive cities in the county. And Dallas is quickly catching up. But it’s still not too late. New construction is everywhere across major Texas cities, and it’s a sight that folks can expect to see for many more years. If the question is: Is there enough room for everyone? Well, there most certainly is, but there has to be a room for everyone.

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AJ LaTrace, Managing Editor

Houston, TX 77063




“It’s everywhere”: Demand for Houston industrial space on the rise BY BRANDI SMITH

Photo by Alain Pham for unsplash

Heading into 2022, he anticipates the market will continue in that direction, lowering vacancy rates and inflating rents.

To say that 2021 was a busy year for the team at CenterPoint Properties is an understatement. “The market is stronger on the demand side than I've seen in my 20-year career,” says Rives Nolen, CenterPoint’s Senior Vice President of Investments. After several years of lagging new supply, Nolen shares that the demand for industrial space in Houston is outpacing new construction this year. “Our vacancy rates are still not quite on par with the rest of the country, but I think with the demand that we're seeing right now, things are moving in the right direction,” he says.



Rives Nolen

“In terms of supply and demand, we are seeing more balance and the vacancy rate is trending back toward historical levels,” says Nolen. “We need another year like 2021, and we’re likely going to get that in 2022.”

He also expects continued demand for larger industrial footprints, a trend Nolen says began nearly a decade ago. The average deal size in Houston this year is roughly double what it’s been historically.

8705 Citypark Loop

“We started noticing larger deals in the market around 2012,” says Nolen. “Since then, it's steadily increased, and that really accelerated over the past three years or so.” Developers, he adds, are now building much larger buildings in Houston to meet that demand in the marketplace. “It'll be interesting to see whether that trend continues in the long term,” Nolen says.

“There was a time when that land was considered just too far away. Many industrial brokers will tell you they used to go dove hunting on the land where these buildings are going up!”

Because much of the need for industrial properties is being driven by e-commerce and consumption, he says companies are staking distribution centers just beyond the traditional scope of the metro area, such as Brookshire or Waller. “There was a time when that land was considered just too far away,” says Nolen. “Many industrial brokers will tell you they used to go dove hunting on the land where these buildings are going up!” Now demand for that land is a function of users needing larger facilities in locations that have good access to labor, amenities, and transportation features like interstate highways. E-commerce demands faster delivery times, so companies are storing more products in large warehouses outside Houston. Some then have smaller warehouses within city limits to get those products to the consumer as quickly as possible.

“It’s all about getting faster delivery times,” Nolen says. As a result, it’s getting tougher to find sites that check all the boxes needed for development: transportation access, labor access and utilities. CenterPoint is looking to acquire property in the area around the Port of Houston’s Barbours Cut and Bayport Container Terminals, as well as in Northwest Houston and along Beltway 8 on the west side of Houston. Nolen says the company is also busy leasing space throughout Houston Continued on Page 26>



Major Texas retail markets are back to pre-pandemic vacancy levels BY AJ LATRACE

Photo by @artificialphotography for unsplash

The pandemic hasn’t exactly been kind to retailers as residents across the nation were asked to stay home for months on end last spring and summer. However, despite the ongoing nature of the COVID pandemic, there are not only signs of life for Texas retail, but an indicator that the health of the retail market is strong. Recent reports from NAI Partners specifically look at the markets in Austin, San Antonio and Houston, and offer compelling evidence of a return to normalcy. Perhaps the biggest story in Texas retail at the moment is the success of the San Antonio market. According to the NAI Partners report, San Antonio retail rents have actually reached a new all-time high. Inflation



concerns aside, the average triple net lease asking rent has risen by nearly a dollar from $16.08 in October 2020 to $17.06 this October. Vacancy and availability is also down in San Antonio. The current vacancy is just 5.2% while the availability rate is just under 7%. The report also notes that this October was the first time in three years that the amount of net absorption was higher than the volume of deliveries between January and October, suggesting that demand is beginning to outpace supply. There were a number of big deals that helped push the leasing activity well

over 2 million square feet. Floor and Decor took 91,000 square feet at 13905 North I-35 while gyms LA Fitness and Crunch Fitness leased 50,000 square feet and 30,000 square feet respectively. The story is similar in Austin as the city continues to witness tremendous population growth and investment. The vacancy rate currently hovers just under 4%, which is the lowest rate in three years, according to the report. This means that this is not only back to a pre-pandemic vacancy level, but this level of low vacancy predates the pandemic by at least a year. A year prior, the vacancy rate was slightly higher at 4.6%. Also similar to San Antonio, overall availability is down and net lease prices are up. The overall availability this October was 5.7% — down from 6.3% a year prior — while triple net lease rents were up a few cents to $21.38. There is less than 700,000 square feet of new retail space under construction in Austin, which could see vacancies and rents continue to head in the same direction as demand increases. Leasing activity was more or less unchanged between October 2020 and October 2021 at 1.78 million square feet.


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Notable leases include H-E-B’s 102,000-square-foot lease in Liberty Hill and a 62,000-square-foot lease in Taylor, the report highlights. Ashley HomeStore claimed a 40,000-square-foot space in Cedar Park, also making it one of the biggest lease deals of the year for Austin. And finally, we take a look at the Houston retail market, which is also quickly gaining ground. Unlike the office market, which has struggled

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Mature & diverse: Predictions for the Dallas office market in 2022 BY BRANDI SMITH

“Leasing activity is picking up from the lull in 2020 and is almost 90 percent of the way back to pre-covid levels.” Kari Beets

The Dallas office market isn’t just showing renewed signs of life in a postCOVID world, it’s blossoming. “Leasing activity is picking up from the lull in 2020 and is almost 90 percent of the way back to pre-COVID levels, and more than 40 leases larger than 50,000 square feet have been signed since March 2020,” shares Kari Beets, Senior Research Manager at JLL. “Sublease space increased in Q3 2020, but has remained fairly stable since.” She says development is picking up as well, with several spec projects scheduled to break ground with little or no pre-leasing. Though vacancy for Dallas overall is 4.1 percent higher than in Q1 2020, vacancy in Class A product built after 2010 is only up 1.6 percent. “The ‘flight to quality’ is a trend that has been ongoing for the past few years and continues to have a large impact on the Dallas office market,” Beets says. “New Class AA space has seen significant activity and absorption, while older product stays stagnant.” Josh White, Executive Vice President with CBRE’s Advisory and Transaction Services group in Dallas, adds that the companies that are confident in committing to an office lease are doing so because they believe that culture is the life force of their business and that a vibrant, amenity rich office solution is a key component to building and maintaining a strong culture. “Our clients that believe they are better together in the office (which is most, by the way) know that they need to create an environment that gives their employees a reason to be in the office,” he says. “There is definitely a good bit of head scratching around what the office will look like going forward from a workplace strategy perspective, but the majority of the companies that I interact with are well past any evaluation of a full work-from-home strategy.” She attributes the trend to the tight labor market. As companies seek to use real estate as a recruiting and retention tool, the quality of the space and its location are key. “We keep hearing about ‘The Great Resignation,’ how workers are resigning 12


Josh White

from their jobs in search of a better work environment or more flexibility, or deciding not to work due to childcare issues or early retirement,” Beets says. “If the labor force participation rate continues to stay low, this will continue to be challenging for employers to find people they need to grow and potentially reshape the labor force.” This, she explains, will have implications on office demand, as companies may slow the growth of their real estate footprint in response. Beets says there are still a number of unanswered questions related to the trend: How long will it last? What will it take for employees to return to the workforce? How will employers accommodate increasing demands for the flexibility in work hours and location that employees experienced during the pandemic? Another uncertainty is the new COVID variant Omicron and how could impact the market. “Delta clearly caused a delay in the return to the office for those companies in the region that were not already back in the office,” says White. “However, most companies that were already back decided to stay in the office and focus on increasing their safety protocols, and they seemed to weather the Delta storm very well.” He and Beets agree it’s just too early to say what kind of significance Omicron will have. “Some companies have been working from home for almost two years and are anxious to get back into the office and experience the collaboration that comes from being in the same space. Some may mandate vaccination or increase precautions rather than push re-entry back again,” says Beets. She suspects we’ll see a response depending on what research says about the variant – if it’s more transmissible than Delta or causes more serious complications. “If the latter, I think we will see timelines pushed back,” Beets says. “National companies with more of a public presence and less risk tolerance have already pushed timelines back, but most smaller companies and companies with local

decision-makers are back in the office.” Of all Texas markets, Dallas may be the best positioned to weather the storm the pandemic generated. It’s more mature and has a much larger inventory than Austin, for example. It’s also more diverse in terms of industry, giving it stability in a downturn. “Overall, the Dallas and Houston markets are tenantfavorable, whereas Austin is more competitive for tenants due to its rapid growth and smaller inventory,” says Beets. “Like other Texas markets, there is high demand for Class AA space in urban areas, and all markets have seen speculative construction in these areas.” As the fourth-largest metropolitan area in the U.S., Beets adds that Dallas has a strong employment base and costs remain considerably lower than coastal markets, which continues to attract corporate headquarters relocations and new backoffice hubs.

Photo by Charl Folscher for unsplash

“We are keeping a close eye on the out-of-state relocation activity,” says White. “Corporate relocations have played a role in our recovery to date, and we anticipate that trend will strengthen in 2022.” Vanguard, which announced a new hub in Plano, is one example of this trend, and several other finance firms are circling the market to either open new offices or expand in DFW.

“Continued attraction of out-of-market firms will contribute to new development and reduce vacancy in the Dallas office market,” Beets predicts. Adds White: “In my opinion, Dallas is far and away the strongest office market in the state of Texas, and it will only get stronger as more companies decide to capitalize on what the area has to offer for their employees.”

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CCIM November Luncheon BY RAY HANKAMER

Speaker: Brian Stoffers-CBRE Global President, Capital Markets Takeaway: Compared to the 2007-08-09 financial crash, the shock to the financial markets by the onset of the pandemic has been taken in stride by lenders, with less panic and more accommodation to borrowers, and their loans. This has set the stage for a smoother recovery, with lots of money and lots of lenders eager to put it out. And there is a lot of investor money domestically and internationally, seeking acquisition deals in the various US commercial real estate (CRE) sectors. Bullets: • Many challenges from the pandemic, and a year and a half ago CRE came to a screeching halt; but lenders were more accommodating, knowing that the adverse climate was not due to any underlying weakness in the industry • Loans were willingly modified by lenders, with forbearance, interest only, and other help from the note holders • Markets are recovering much more swiftly now



• In the ’08-’09 crisis, lenders sold off valuable portfolios at a deep discount to private equity firms and other buyers, who in three or four years sold them for a big profit; this time around there was not panic selling by note holders • There is now a vigorous competition among lenders for deals in all the CRE sectors, a little less so in office; banks, life companies, bridge lenders & private equity firms…all are looking to put out money • Lenders love construction loans to multi-family and warehouse/industrial; and in addition to debt providers, there is a lot of equity seeking solid CRE in strong markets • Manhattan, which received a lot of negative press during the pandemic has bounced back strongly, and many large investment groups want to have a piece of the action there • Industrial remains the most sought-after sector for investment sales; demand is so strong for it and multi-family that these two sectors are seeing compressed cap rates • Retail is also very strong, with grocer-anchored centers leading the way; lodging is coming back too-suburban and extended stay did not suffer too much during the pandemic, but big city-center convention hotels did, as people hesitated to congregate; resorts did ok during the pandemic • Self-storage is another sector which is in demand, as is single family rental properties; medical office buildings and life sciences office are surprisingly strong • As usual, well-capitalized developers/borrowers have the edge over smaller firms; 85% LTV capital stacks can be achieved in this market with strong borrower sponsorship • As for the Houston office market, we have probably just reached the low point, and the bubble of sublease space has shrunk noticeably; landlords are scratching their heads to figure out what the ‘new work force’ wants in terms of buildout; office in Houston is not great but slowly getting better • Interest rates remain low; inflation is generally good for CRE, but labor and materials and management cost inflation may put the brakes on some development; overall supply and demand are in relative balance • Some life companies are restructuring their portfolios and selling them to private equity groups




• There are warning signals coming out of China, where property development makes up 25% of their GDP; with the one-child driven shrinking population, demand for housing is at a standstill, with many empty high-rise buildings; there is some fear that debt default in China could have a ripple effect worldwide


REDnews would like to congratulate the latest inductees into our Texas Commercial Real Estate ICONS Deborah Bauer

Drake Commercial Group

Stephanie Burritt


R.L. “Burr” Buckalew

Riverway Title

Stan Creech

Stan Creech Properties

Dr. Mark Dotzour

Real Estate Economist

Lilly Golden

Evergreen Commercial Realty

Charles Gordon


Al Hartman

Hartman Income REIT Management, Inc.

Simmi Jaggi


Eric Lestin

Cushman & Wakefield

Conrad Madsen, SIOR

Paladin Partners

Ed Nwokedi

RedSwan CRE

Mike Spears, SIOR, CCIM

Lee & Associates

E.W. “Ned” Torian

Torian Commercial Properties


DEBORAH BAUER Deborah Bauer received some sound advice when starting her commercial real estate career in the 1980s: A friend told her to avoid trying to be one the guys, even though CRE was -- and still is -- largely dominated by men. This friend, instead, told her to keep her femininity and integrity and to be always true to her word. Bauer followed this advice, and by living by this rule, she's built the strong relationships necessary to enjoy a thriving CRE career. "I enjoy the opportunity to find the right projects for our investors and developers," Bauer said. "I truly enjoy being involved through the entire process, working with engineers and land planners and getting to see the final project come to fruition." This industry veteran is also fortunate to work with her son, Travis Bauer, who is now president of her firm, Drake Commercial Group. Today, Drake Commercial Group remains successful, attracting a wide range of clients. How has Bauer managed to build such a busy real estate career? She credits her persistence, attention to detail and personalized service. She also responds quickly to her clients' needs, all of which has led to a thriving business. "My success is largely due to my integrity and dedication to our clients," Bauer said. "This commitment has blossomed into longterm client relationships and referrals." And while Bauer's career is a busy one, she's also found time to give back to her community. She and several of her friends started a non-profit organization, Women Give Back. The organization donates 100 percent of the proceeds it earns to charity. Bauer says that this group was created to encourage philanthropic generosity among female leaders who want to give back to a community that has supported them.


Drake Commercial Group San Antonio, Texas

Bauer's peers have recognized her success. Bauer has won several industry awards, including the National Association of Women Business Owners' Spirit Visionary Award, the North Chamber Business Achievement Award, San Antonio Business Journal Best in Commercial Real Estate, CREW Best Deal of the Year and the National Impact Award for Entrepreneurial Spirit. What is most rewarding about this industry? Bauer points to the chance to share with young women starting their own career paths the steps she took to balance family and business life. "It is truly a pleasure to be able to share my experiences with them, as well as some ideas I wish I had started earlier in my career," Bauer said. When not working, Bauer enjoys spending time with her four grandchildren and traveling throughout Europe.

STEPHANIE BURRITT Working in London or Houston? It's never mattered to Stephanie Burritt, principal and managing director of Gensler's Houston office. This designer has always delivered for her clients, no matter the location of her office. Burritt began her career with Gensler in 1989, joining the firm's London office. Six years later, she made the move to Houston, where she has had the opportunity to manage workplace projects ranging from one thousand to one million square feet in size. During her time in Houston, Burritt has primarily focused on designing for energy and professional service firm clients, many of whom are long-term and global relationships. And though Burritt's career is a busy one, she's also taken the time to mentor others entering the architecture and design business. This includes volunteering with several professional development programs including gConnect, a year-long business development course targeted toward future leaders with less than seven years of experience; Emerge, a business development program focused on pushing young leaders to advance their client relationship-building skills; and Pathways to Success, an internal mentorship program at Gensler. "Being able to mentor the next generation of great minds and play a part in their development as leaders has always been my favorite part of the business," Burritt said. "Without mentorship, the ability to sift through different situations and determine for yourself the next best step can be very difficult since you are missing a point of reference." Burritt's hope is that the younger professionals she mentors can learn from her own experiences and challenges of building a career and balancing a family life.

Principal/Managing Director

Burritt said that this balancing act between her professional and family lives posed the biggest challenge in her career. "As a working mom with two now-grown children, I've had to overcome the challenges of communication and the everchanging priorities that come with raising a family while excelling in the workplace," Burritt said. "I've learned how important it is to remain flexible and have a strong support system in place, whether it's your work family or your extended family." What steps has Burritt taken to build her career? Hard work plays a key role, of course. So does delivering top results for her clients. But Burritt said that being a good listener has been important, too.


Houston, Texas

“I am a firm believer that it all comes down to being a good listener,” Burritt said. “When you listen, you might learn something you didn’t know. Instead of jumping to conclusions, you should really stop to understand what it is that person or client is trying to tell you. When an employee comes to me, they are looking for guidance, not for me to talk over them or make comparisons about my past. You simply can’t lead if you aren’t listening.” When not working or mentoring, Burritt serves on the board for Central Houston, a group dedicated to improving the quality of life for Houston residents. She's also a supporter of ByDesign, an internal group of next generation architects and designers at Gensler who conduct design studies intended to foster conversation about the built environment. And when Burritt gets a chance to decompress, you’ll find her on the lake.




There’s very real value in experience when it comes to the commercial real estate industry, and R.L. “Burr” Buckalew is approaching five decades in the title business. This means that he’s ridden the ups and downs, seen the growing impact of technology, and gotten to know numerous colleagues and clients on countless deals. A modest professional, Buckalew attributes much of his success and staying power to his mentors. “When I first entered the business, I was fortunate enough to have been mentored by the best title man ever, Buck Eckels. He owned Lawyer’s Title Company for many years,” Buckalew said about his early days. “Any success I may have had is attributed to him.” But juggling multiple closings at a time requires strict attention to detail and the ability to multitask effectively.

Executive Vice President and Senior Escrow Officer

Riverway Title Houston, Texas

“Before computers, it was much easier to close a real estate transaction but so much less efficient,” Buckalew said about the change in the closing process. “It’s not unusual that I’ll have 50 different people on an email chain when closing a large transaction. Dealing with so many people can create some real challenges in trying to please everyone.” Buckalew’s background includes an education at Texas Tech University, where he graduated in 1972. In 1976, Buckalew moved to Houston and joined Lawyer’s Title Company. In 1998, Buckalew purchased the business and became the sole owner of the company. Then in 2004, the company evolved and its name was changed to AmeriPoint Title Houston. Eventually, the business would merge with StarTex Title, with a transition in 2011. His professional achievements are only a part of his success. Buckalew has two daughters, four grandchildren and is an active member of Chapelwood United Methodist Church.

S TA N C R E E C H Stan Creech has ranked as one of the most successful real estate brokers in Houston since his graduation from the University of Texas law school in 1971. And his company, Stan Creech Properties, has been one of the city's major CRE players. Stan Creech Properties has represented local, national and international clients in the marketing and acquisition of land parcels. Since Creech founded it, his company has sold real estate valued in excess of $3 billion in the Houston market. Creech's success can be traced to a simple formula: He provides his clients with honesty, integrity and professionalism. He also possesses a deep knowledge of the Houston commercial real estate market. This combination has led to a long list of repeat clients, clients who come back to Creech because of the top-level service he provides. Creech also points to his time in the U.S. Marine Corps as teaching him the values of hard work, discipline and perseverance. He cites his time in law school as giving him a legal background that has served him well in the negotiation of real estate contracts. These positives have served Creech well during his career. He first entered the real estate business as a land broker with the R.T. Marshall Company, a position he held from 1971 to 1980. In 1980, he founded Stan Creech properties, a company that is still going strong today. Creech's peers have recognized his accomplishments. He's made the Houston Realtor Association/Houston Business Journal Heavy Hitters list six times and has since been inducted into the Heavy Hitters Hall of Fame.

Owner and Founder

Stan Creech Properties

Houston, Texas

This industry veteran has found time to serve his community, too. Creech was named to the city of Houston Planning Commission by Mayor Kathryn Whitmire in 1991. "My vision on the planning commission led to the development of many of Houston's finest developments, including office towers, retail shopping malls, multifamily apartments, medical hospitals, residential subdivisions and golf courses on prime properties throughout the Greater Houston area," Creech said. To further help the community, Creech established the Stan and Gail Creech Athletics Scholarship at the Kinkaid School to provide academic opportunities for gifted athletes. Creech has also participated in several major deals in the Houston area. He represented the Houston Texans in the team's purchase of land adjoining the NRG Stadium for the Texans' practice and training facilities. He also represented the Texas A&M Foundation in the sale of land that led to the building of Reed Arena on the university's campus. "The most enjoyable aspect of my job is the many relationships and friendships I have made over the years," Creech said. "I love my work. It is my passion, and I have no intention of retiring."



DR. MARK DOTZOUR Dr. Mark Dotzour began his career in real estate in 1975 as a licensed residential salesperson at his father's firm, Dotzour Realtors in Wichita, Kansas. He enjoyed the challenge of selling homes, and still remembers the thrill of taking the phone call that led to his first real estate listing. But selling homes isn't what Dotzour is known for today. No, he's respected as one of the leading real estate economists in the country and is a sought-after speaker at commercial real estate functions, conferences and seminars. His clients include banks, credit unions, homebuilders, engineering firms, trade associations and residential and commercial real estate firms. "I really enjoy interacting with the pros in the business," Dotzour said. "They are the experts, and I learn a lot from them. I have always loved reading and thinking about real estate. I enjoy reading from a wide variety of sources with one singular goal: to translate all the information into real estate business/investment decisions." This success as an economist and speaker isn't surprising. Dotzour has long been a teacher at heart. In 1981, he and his wife, LuAnn, along with their children, moved to Austin. Here, Dotzour entered the PhD program in real estate studies at the University of Texas. During his time at the university, Dotzour not only earned his degree, he also taught for four years. Dotzour next moved to Wichita State University, where he taught for 10 more years, becoming a tenured associate professor. His peers recognized him as an exceptional educator: In 1990, Dotzour received the Faculty Award for Teaching, in 1989 and 1993 the Faculty Award for Exceptional Research and in 1993 the Young Faculty Scholar Award.

Real Estate Economist

College Station, Texas

In 1997, Dotzour moved again, this time to College Station, where he and LuAnn, his wife of 47 years, have lived since. He worked at the Real Estate Center at Texas A&M for 18 years. When he retired from the university in 2015, the Texas Association of Realtors presented him with the REALTOR Champion Lone Star Award. And after retiring from Texas A&M Dotzour still hasn't slowed down. Dotzour loves research and continues to make presentations on real estate and the economy across the country. "Every time that I make a presentation, I think about who will be in my audience," Dotzour said. "I know that they are the experts in their local market. I try to visualize what kind of information they could use to enhance the service that they provide their customers." But it's not just Dotzour teaching his audience. Dotzour says he learns plenty from the real estate pros attending his presentations, too. "Networking with top CRE professionals has also been invaluable to me," Dotzour said. "Many pros will email me when they see something that might help me in my analysis. I value their feedback very much." When not giving presentations, Dotzour enjoys traveling with LuAnn throughout the country. The couple loves to hike in parks, eat in small downtown cafes and shop at musty bookstores and antique stores. Dotzour also enjoys mentoring young people. "At my age, there is nothing better than walking with a fellow human down the sidewalk of their unfolding life," Dotzour said.

L I L LY G O L D E N As principal and founder of Houston’s Evergreen Commercial Realty, Lilly Golden has made a distinctive mark on the Texas commercial real estate market. During her three decades in the industry, Golden has represented some of the most dominant retailers and worked on some of the most important retail projects in the Houston area. These include CITYCENTRE, LaCenterra and the Pearland Town Center. Golden has landed these big projects by following a simple formula: She works hard. She studies her market. And she delivers excellent service to her clients. This strategy has helped Golden build one of the most highly regarded commercial retail practices in the Houston area. The awards that Golden has earned during her career attest to this. Golden has earned the “Heavy Hitters Award” from the Houston Business Journal and the “Costar Broker of the Year Award.” She is a CCIM, the chairman of the Houston ICSC committee and a board member of The Site Source National Retail Broker Network, which includes 45 brokerage companies across the country. Despite her success, Golden has faced challenges. She began her commercial real estate career in Chicago before moving to Houston. Building a career in a new city was no easy task. "After moving to Houston in my mid-30s, it was really difficult to get established in a new market with no contacts and having two toddlers at home," Golden said.


But this challenge didn't slow Golden. Once she moved to Houston, she worked as hard as ever. This meant earning the trust of new clients and steadily building a book of business in her new home city.

Evergreen Commercial Realty Houston, Texas

"I accepted client and project assignments that no one else wanted and worked really hard to make them a success," Golden said. Golden graduated from the University of Michigan with a bachelor of science degree in engineering and from the University of Chicago Booth Graduate School of Business with an MBA. Before forming Evergreen in 2005, Golden steadily built her experience by working at JLL in Chicago, Trammell Crow and Moody Rambin in Houston. When she isn’t representing her clients, Golden devotes her time to several business and charitable organizations. She also plays tennis and golf, enjoys snowboarding and prefers to spend her days hiking with her husband and two daughters. All of those activities? Golden said that they are great ways to keep her out of the kitchen!





Lilly Golden, MBA, CCIM President

CHARLES GORDON Having over five decades of experience in Texas commercial real estate under his belt, Charles Gordon has not only witnessed the evolving industry, but has participated in shaping it. And with so many major companies eyeing a move to Texas, Gordon has the rare knowledge and expertise to help guide stakeholders on such a major investment decision. Throughout his career, Gordon has advised on office deals exceeding a cumulative total of 40 million square feet, or roughly over $20 billion in value. Numerous big-name energy clients are listed on his resume, including ExxonMobile, Shell Oil, Cabot Oil & Gas, PG&E, and many others. There is arguably no one in the Houston market as well versed in advising major energy and financial corporations on office lease deals. But like anyone in the business, Gordon had to start somewhere. He began his career in 1970 with LaGuarta, Gavrel & Bolin and then moved over to Henry S. Miller Co. between 1971 and 1975. It was in 1975 that Gordon opened his own business, Gordon Hoffmaster, when he took the helm of his career and achieved a new level of success. Gordon then founded Trione & Gordon in 1985, which was eventually sold to CBRE in 2003. In 2021, Gordon launched his next chapter by joining JLL.

Executive Managing Director


Some of his accolades include winning NAIOP’s “Office Broker of the Year” award three times, being inducted into NAIOP’s Hall of Fame, numerous mentions on Houston Business Journal’s annual “MVP” list, and being the 2011 recipient of the Edward S. Gordon Award for Lifetime Achievement from CBRE, which recognizes those who go above and beyond for their clients. And we can’t forget to mention that Gordon has also earned a spot on CBRE Houston’s Top 10 Producers list for 18 straight years and was admitted into the NAIOP Hall of Fame. However, this business isn’t a cakewalk, and success doesn’t come overnight.

Houston, Texas

“Brokerage can be a very discouraging business so you have to believe that hard work and perseverance will win in the long term over everything else,” Gordon said about his approach. “You cannot take it personally when you lose a pursuit or an existing client. You also have to believe that the harder you work the luckier you get.” When not brokering deals or advising colleagues, Gordon is an avid golfer and enjoys going on golfing trips with friends and colleagues.

JLL congratulates Simmi Jaggi and Charles Gordon, named Texas CRE Icons by REDNews.

JLL is a growth company, and we are continually hiring talented people to add to our diverse and inclusive culture. Recent JLL Recognitions: • World’s Most Ethical Companies – Ethisphere • CRE’s Best Places to Work – GlobeSt. • Best Places to Work – Houston Business Journal • Worlds’ Most Admired Companies - Fortune • America’s Best Employers for Diversity - Forbes • America’s Best Employers for Women – Forbes • America’s Best Employers for New Graduates - Forbes • Top Companies for Executive Women – Working Mother • America’s Best Companies for Dads – Working Mother • America’s Most Responsible Companies - Newsweek Please visit for information on our open positions.

Simmi Jaggi EVP, Managing Director, Land Advisory Services


Charles Gordon Executive Managing Director, Office Tenant Representation


© Jones Lang LaSalle Americas, Inc., licensed real estate broker

AL HARTMAN What began nearly 40 years ago as an upstart acquisition and management effort of distressed commercial properties has blossomed into Hartman Income REIT, a firm that claims 59 commercial assets, has sponsored nearly 30 investment programs, and has $809 million in assets under management. Al Hartman has always maintained and executed on a value-oriented investment strategy that has led to consistent growth and the ability to take on new opportunities. This means taking chances and making investments when others choose to stand on the sidelines. “Despite the economic downturns that hit Texas in the late 1980s and 1990s, our business continued to grow; this is when we purchased our 20 foreclosure properties,” Hartman says of the strategy. “We purchased them for a great price, then fixed and leased them up into exceptionally performing assets in our portfolio. You can still find opportunity in some of the worst of times.” The pandemic is yet another situation that has shaken the very foundation of the commercial real estate world and forced business owners to evolve and adapt to the moment. Fortunately for Hartman and his team, the firm is on track to close out 2021 with a record number of leases signed.

President, CEO, and Chairman of the Board of Directors at Hartman Advisors and CEO of Hartman Income REIT Management, Inc.

Houston, Texas

While Texas has experienced some tough times, there’s also a tremendous opportunity in the number of corporate relocations, new residents moving in from other states, and ongoing interest from institutional investment for new opportunities. And Hartman is prepared for the next big year in 2022. But like any other executive who has found success in his life and career, Hartman acknowledges the hard work and dedication of his team. “The individuals who work at this firm operate at an elevated level of excellence,” Hartman says of his ethos. “It is known at our firm that the tenant is sacred. Customer service must always be the job of everyone in the company, and when that becomes the case, excellence will follow.” In addition to his passion for and success in commercial real estate, Hartman has dedicated much of his time and attention to his non-profit, serving on the Board of Directors of The Great Awakening Project, and participating as a member of The Elijah Challenge.



SIMMI JAGGI When JLL's Simmi Jaggi looks at a tract of land, she doesn't see just dirt and grass. She sees office buildings, warehouses and sprawling mixed-use developments. That's because Jaggi, who has worked in the Texas commercial real estate industry for 37 years, is one of the top land brokers in the Houston market. She recognizes that land is the key piece of commercial real estate, one that impacts all businesses. Thanks to her expertise and dedication to her industry, Jaggi has ascended the ranks steadily and heads the National Land Advisory Services division at JLL. An expert in site and trade area analysis, Jaggi specializes in suburban master-plan communities and redevelopment. Jaggi has certainly built the track record to back up her reputation. Since joining JLL in 2014, she has assembled a top team specializing in land dispositions and acquisitions. Before joining JLL, she worked with CBRE for 22 years, where she closed more than $970 million in sales throughout the Houston area. How has Jaggi built such a successful career? She points to her hard work and determination. "I'm successful because I chose to be successful," Jaggi said. "With any sales position, it takes determination and focus to achieve success." Jaggi's peers have recognized her talents. She was named to the Women Who Mean Business list by the Houston Business Journal in 2018 and has received the Top Gun designation from JLL five times. She has also been named a Heavy Hitter by the Houston Business Journal several times.

Executive Vice President Managing Director | National Lead for Land Advisory Services

That doesn't mean that Jaggi hasn't faced challenges. When she entered the business, there were few women in commercial real estate. And though the number of women in this field has grown since, commercial real estate remains an industry largely dominated by men. Jaggi, though, didn't let that slow her career. She focused instead on working hard and delivering results for her clients. "Entering the business in the late '80s as a young female was interesting," Jaggi said. "I had to overcome the fact that there were very few female producers and let the industry know that I was here to stay and outwork everyone." And what does Jaggi enjoy most about her career? She points to the people with whom she works, saying that both her clients and colleagues are amazing. She also thrives on making deals, something that means her work is never boring.


Houston, Texas

"Every deal is different, which allows you to be creative in finding solutions," Jaggi said. When Jaggi isn't delivering for her clients, she enjoys spending time with her family, her husband Bobby, daughter Maya and son Cameron. The family spends plenty of time at its vacation home in Galveston, Texas, and also enjoys traveling.


Oftentimes, commercial real estate agents approach their work as a competition where there is a winner on one end, and a loser on the other. However, Eric Lestin believes that there must be a more thoughtful, measured and practical approach to deals in order to find success in one’s career. “Acknowledging that a good deal is a fair deal for all parties involved,” and “recognizing what is important to each side” are just a couple of points of Lestin’s philosophy in the world of deal-making. But being successful also means going above and beyond for clients with difficult or unique needs. With 45 years in the business, Lestin has participated in countless transactions. His expertise and knowledge of the retail landscape in Houston offers his clients a huge leg-up when advising throughout the planning and closing processes. Some of Lestin’s clients include companies such as Island Grill, Grupo Costeno, BSH Home Appliances, Three Brothers Bakery, Duff’s CakeMix, DoorDash, Oche Dart Club, and Powerhouse Gyms.

Managing Director — Retail Lead

Cushman & Wakefield

As an executive with decades of experience, Lestin says that working with and advising younger brokers is one of the more rewarding parts of his career. But he believes that keeping in touch with his network of colleagues and clients is also another important key to success. “Education, keeping up with changes in laws and the market, listening to peers describing solutions they have crafted, and paying attention to new ideas,” are some of the ways that experienced brokers can stay one step ahead, Lestin says.

Houston, Texas


A graduate of the University of Rochester and Captain of the Intercollegiate Golf Team, Lestin has been a guest lecturer at the University of Texas at Austin, Georgia Tech University, Houston Baptist University and Rice University. He has also appeared on the “Heavy Hitters” list from the Houston Business Journal.


When not working on behalf of clients, Lestin can be found playing golf, reading, traveling, or watching college sports.

Ed Nwokedi Founder & CEO

Congratulations! RedSwan CRE CEO and Team on Being Recognized As A 2021 REDnews Texas CRE Icon!

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Solomon Nwokedi

CONRAD MADSEN, SIOR Conrad Madsen has learned the value of harnessing a social media presence in this day and age. With over 20,000+ followers on LinkedIn and recently identified as a Top 5 CRE Influencer in the world, Madsen’s influence on the greater Dallas and Texan commercial real estate landscape stretches far and wide. But there’s more to being an influencer in the world of CRE — there must be value and substance, and Madsen’s mantra of “Make an Impact” and “Give Back” means that he’s always putting his clients, the community (and his vast audience) first. Madsen is frequently invited to speak at engagements and panels about his experience and thoughts on the state of commercial real estate. It’s this credibility that has also launched his name and reputation to the top of mind for reporters and industry insiders who are digging into the bigger picture and looking forward to what happens next in market trends. But like many other successful professionals in the field, Madsen had to remain determined when he first started off in the business 21 years ago. “Breaking into this business isn’t easy at all, as it’s all about relationships,” Madsen said about his early experience in the industry. “Many people in this business are well connected due to them growing up here or coming from a privileged background, however, coming from a small border town in deep south Texas, I had zero connections in Dallas-Fort Worth and didn’t have any business prospects.” Despite the long odds, Madsen continued to trust in himself and pressed ahead.

Co-Founder and Partner

Paladin Partners Dallas, Texas

“I’ve always been a believer in work ethic and persistence winning out at the end of the day. That passion to win has got me to where I am today,” he said. And then there’s the deal-making aspect. While sheer willpower and determination is one key ingredient to success, at the end of the day, brokers must always put the interest and needs of their clients above everything else, which has led to him working assignments in over 150 cities across the globe. “My clients know that I will go to war for them and represent them to the absolute fullest extent. This creates long-term relationships that have lasted decades with many of our partners,” he says of his ethos. Madsen’s drive is also what led him to excel in athletics growing up and ultimately earned him a athletic scholarship before he sought the biggest stage and walked-on at Texas Tech University. Ultimately injuries kept him from competing at the highest level, but he’s still an avid fan of college football and basketball and on his free time you can find him hunting rare and collectible wine and whiskeys and enjoying the great outdoors.

ED NWOKEDI When first breaking into the commercial real estate industry nearly 20 years ago, Ed Nwokedi knew that he needed to take a creative and consistent approach to establish himself and build a career. “I started in the industry without training or knowledge of the business,” Nwokedi says of his early days in the business. “I was fortunate to have an experienced senior partner to teach me the business, but I also learned the tools of the trade by watching the winners in the industry and being fearless enough to keep taking chances and not give into denials.” And in taking chances and investing in himself, Ed is now the Founder and CEO of RedSwan CRE, a real estate platform which connects investors utilizing blockchain technology. The venture is a $2.6 billion marketplace for asset-backed securities and digital real estate. By being an early adopter of this tech in an industry that all too often can be slow to adapt, Nwokedi seeks to stay ahead in an ever-evolving field.

Founder and CEO

RedSwan CRE Houston, Texas

“RedSwan CRE is an industry solution provider creating liquidity, accessibility and affordability to all investors globally. This is a major friction point in our $54 trillion industry,” he says of the technology. “Being ahead of the curve provides freedom to be creative.” Prior to RedSwan, Nwokedi spent over 15 years with Cushman & Wakefield and two years with Colliers focusing on multifamily assets and capital markets. His work in the advisory field oftentimes led to opportunities outside of Texas — and the US for that matter. Ed has worked on deals in Hong Kong, Singapore, China, Mexico and Canada in addition to his primary role in Texas. Ed also stays in close contact with his family in Nigeria and has provided valuable opportunities by sponsoring numerous awards and scholarships for young professionals in his parents’ community. Nwokedi received his B.S. in Accounting and Organizational Behavior from the University of Michigan in Ann Arbor, Michigan, and an M.B.A from St. Mary’s College of California in Moraga, California. Additionally, he has been recognized for his professional achievements by being named to Houston Business Journal’s “Heavy Hitter Award” list in 2010, 2012, 2013, 2014 and 2017.



MIKE SPEARS, SIOR, CCIM With over $1.5 billion in transactions under his belt and over two decades of experience in the Houston commercial real estate business, Mike Spears knows better than anyone that the formula for success is more than simply honing personal and professional relationships. Being versatile, resilient and ready for major challenges is where one shines and gains new strength. The Great Recession, Hurricane Harvey, and the COVID pandemic were some of the upheavals that Spears has faced during his career, but he has continued to lead and foster a strong culture on his team at Lee & Associates. This not only means providing mentorship to current colleagues, but also overseeing and executing a vision for growth. Spears serves on the corporate Board of Directors for Lee & Associates and has overseen the establishment and expansion of new offices across numerous markets. He also developed the “Lee Talks” monthly call to keep associates engaged and connected during the pandemic. But having over 20 years of experience in the field doesn’t mean that there aren’t new opportunities for personal growth. “No matter how long I’ve been in the industry I will always consider myself a student,” Spears says.

Managing Principal

Lee & Associates Houston, Texas

Spears highlights the themes of mentorship and collaboration, as well as ongoing professional development opportunities and designations, including SIOR and CCIM. “Thankfully, I have had some wonderful mentors along the way; and I would encourage everyone to keep going even when they feel unfamiliar with something, and look for those mentors willing to support you in a new endeavor,” Spears said. Spears has been the recipient of numerous awards and accolades during his career, including Real Estate Forum's "Commercial Real Estate’s Best Bosses of 2017," Lee & Associates Innovation Awards in both 2020 and 2021, and an honoree of the prestigious Houston Business Journal's "Most Admired CEO" campaign for 2021. Outside of work, Spears coaches little league sports, enjoys traveling, and experiencing the outdoors through golfing, fishing and hunting.

E . W. “ N E D ” T O R I A N E. W. “Ned” Torian has been a real estate broker for 54 years and is president of Torian Commercial Properties LLC. While he has overseen transactions in all segments of the CRE business, selling or acquiring land has been his primary passion. Having been the recipient of numerous awards, he feels his biggest rewards came from taking an idea and turning it into a successful closing. “If you’re in this business long enough, you can say that you’ve seen it all. Good markets, bad markets and no markets,” Torian said. Torian says that having the ability to do deals in all markets is the key to survival in real estate. Torian recalls making a presentation for a large listing assignment by an exceptionally large institutional landowner in a down market. After explaining that in down markets not everyone worked hard all the time, but that he would, Torian won the listing. That listing resulted in a land sale that now has a development of more than 1.8 million square feet of office buildings on it. Other transactions closed by Torian include the sale of 6,010 acres that is now part of the Howard Hughes Corporation’s Master Planned Community in Bridgeland. He was responsible for the acquisition and sale of the land that is the Sam Houston Racetrack and the sale of 30 acres of land to MD Anderson in the Texas Medical Center. Torian has worked the Grand Parkway area resulting in sales to master-planned subdivisions, school districts and The Lone Star College.


Torian Commercial Properties LLC Houston, Texas

“No one that I know can do it alone,” Torian said. “I have had incredible friendships and partnerships with the likes of Bill McDade, Ed Cummins, Allen Crosswell, John Holland and others who have all contributed to my success. Lawyers, engineers, environmental specialists, title companies and other brokers have all made exceptionally large contributions that enabled me to take ideas to reality.” While Torian has built a busy career, he emphasizes that there must be more to life than just business. He credits his wife, who he says understands him and the business, for much of his success. Torian also takes the time to work with charitable and community organizations. He has served as president of the Ronald McDonald House, chairman of the Texas Children’s Cancer Center Advisory Board, vice president of the Gillson Longenbaugh Foundation, senior advisor to the Torian Longenbaugh Fund, board member of the University of Texas Library Council, member of The University of Texas Chancellor’s Council and other important organizations. “I always get back more than I give,” Torian said. “That’s the way it works. I have no bucket list. A friend of mine told me that if you have a loving family, good health, friends and a satisfying job that lets you help other people, you already have all you need.”



Market St Portfoliio


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< Continued from Page 9

but still has a small number of prime opportunities, including at its The Market Street Logistics Portfolio. The Portfolio features five buildings with 667,770 square feet and has space available for lease by one or multiple tenants. The rare East Houston submarket development offers quick access to Interstate 10, Loop 610 and Highway 90, and a number of desirable features such as excess land for potential trailer storage and options to add rail service. “It’s a great leasing opportunity for one or multiple users,” Nolen says, adding that one of CenterPoint’s six buildings on Citypark Loop in Northeast Houston is also available for lease: the 191,603-square-foot building at 8705 Citypark Loop. Come 2022, he predicts properties like those will be gobbled up in what’s expected to be another record-setting year for demand. To learn more about CenterPoint and its available properties, contact CenterPoint Properties’ senior vice president of asset management Danielle Radtke, at 630-586-8146 or

Blazer Building Texas.................................................................................... 5 CDC of El Campo............................................................................................ 2 Evergreen Commercial Realty.................................................................... 19 First Warranty Realty................................................................................... 13 Hartman Income REIT- Dallas..................................................................... 21 JLL..................................................................................................................... 20 Lane Property Tax Advocates..................................................................... 11 National Environmental Services, LLC...................................................... 31 Phase Engineering......................................................................................... 28 The Real Estate Council - Greater Ft. Worth........................................... 14 RedSwan CRE Marketplace......................................................................... 23 XAG Properties, LLC....................................................................................... 3




< Continued from Page 11

in this last year, the retail market in Houston is back to pre-pandemic vacancy levels, the report reveals. Overall retail vacancy was down to 5.8% this past October, which is a slight improvement from 6.1% during the same period in 2020. Availability is mostly unchanged at 3.925 million square feet versus the 4.046 million square feet from October 2020. However, the big story here is leasing activity and net absorption. Year-todate, Houston has witnessed 6.39 million square feet of lease deals and had 4.87 million square feet of space absorbed. The net absorption is almost double the number from the same period of January-October 2020. In fact, it’s the first time since 2016 that the city has seen a similar absorption rate, the report indicates. The leases highlighted in the report include a 136,000-square-foot deal by Target in Montgomery County, the 77,697-square-foot lease by AXXA Auto on Gulf Freeway and Hobby Lobby’s 56,000-square-foot lease renewal in Willowbrook.



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Stan Nowak will focus on industrial capital markets in Austin region and in San Antonio Avison Young announced that





markets SIOR,





the firm, has relocated from the Southern




Avison Young’s office in Austin.

Nowak will focus on the expansion

of the capital markets team’s

industrial specialty in the Austin

region and in San Antonio.

Nowak’s motivation to relocate to Austin is in line with a growing trend for businesses of all sizes and types that have chosen Central Texas to call home. More companies are

projected to relocate, grow or expand in the Austin area over

the coming years.

“This decision to relocate made sense as numerous investor and developer clients have expressed their interest in

growing a presence in this market,” said Nowak. “While somewhat different, the Central Texas dynamics and growth projections are reminiscent of Southern California

over the past twenty years where I’ve gained valuable experience and built solid relationships that I carry with me. This is an opportunity to capitalize on capital markets


growth here, and to lay down deep roots with a tremendous

team at Avison Young.”

“Stan’s expertise in the industrial capital markets will be paramount for our clients and Avison Young Austin’s continued growth,” said Erin Morales, Principal and

Managing Director of Avison Young’s Austin office. “The industrial market in Central Texas is seeing unprecedented


activity, so his arrival is extremely well-timed. We look forward to his leadership and success in the Austin office.” With more than 15 years of experience in the industrial and office property sector, Nowak has completed more than $500

million in sale and lease transactions totaling in excess of 4.5 million square feet of space. He has also sold hundreds of

acres of land for development projects.


Avison Young creates real economic, social and environmental value, powered by people. As a private company, our clients collaborate with an empowered


partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy,

productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places

that create a net benefit to the economy, the environment,

and the community.


CCIM President with Tressa Barzilla, REDnews at Annual Christmas Party 2021.


IREM-Houston Annual #givingtuesday Event partnering with Plant It Forward, Nov 30 2021.


J. Blanchard of Guard Texas and outgoing Chapter President Kaci Hancock ACoM CPM of REIS Associates.


REDnews North Texas Women in Real Estate Summit.

5 6

CCIM Holiday Party 2021.

Avison Young is a 2021 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for ten consecutive years.

Ray Hankamer CCIM Holiday Party 2021.




CMI BROKERAGE 820 Gessner, Suite 1525 Houston, TX 77024 P: 713.961.4666 Website: Key Contacts: Trent Vacek,; James Sinclair, Services Provided: Central Management, Inc. is a full-service commercial real estate firm providing Brokerage Services; Property, Facility, Construction and Asset Management Services; Landlord and Tenant Representation; Land Sales; Receivership and Real Estate Recovery. Services are available for Industrial, Land, Multifamily, MOB, Office and Retail. Licensed in Oklahoma and Texas. Company Profile: Central Management, Inc. (CMI) was founded by Houston real estate professional Vic Vacek in 1978. Our team understands the intricacies of the markets that offer investors an edge both from a leasing and an asset management perspective. Certified AMO® 1984, IREM, CPM, CCIM, NAR, HAR, NALP, ICSC, and TREC. Notable Transactions/Clients: Armada Big Springs Ptnrs, Barbour Invts., Baytown ISD, Core Real Estate, Hoffpauir Estate, JLC Properties, KBR, Prudential, Rawson Blum & Leon, Subway, Texas Hearing Institute, Triple Crown Invts., US Oncology, Vigavi Realty, Walgreens. FRANKEL DEVELOPMENT GROUP 5311 Kirby Drive, Suite 104 Houston, TX 77005 P: 713.661.0440 Website: Under Construction Key Contact: Bruce W. Frankel, President, Services Provided: Frankel Development Group offers over 33 years of experience and expertise in the retail real estate business. Services include tenant representation, shopping center/ project leasing, investment sales, land sales, and development services. Company Profile: Headquartered in Houston, Frankel Development Group provides comprehensive brokerage services for its clients throughout Texas with an emphasis on the Houston MSA. The company represents over 25 "best-in-class" retailers and restaurants, 15 property owners, and possesses a skillset and depth of experience unmatched in the marketplace. Notable Clients/Transactions: Notable retailers include Orangetheory Fitness, Burkes Outlet Stores, UBREAKIFIX, Escalante's Fine Tex-Mex & Tequila, Three Dog Bakery, Fred Astaire Dance Studios, Pump it Up, WaveMax Laundry, and Rush Cycles. FRIEDMAN REAL ESTATE 34975 W. Twelve Mile Road Farmington Hills, MI 48331 P: 888.848.1671 Website: Key Contacts: David B. Friedman, President/CEO; Gary Goodman, Sr. Managing Director-Brokerage Services Services Provided: Friedman offers a full range of real estate services including commercial and multifamily property and asset management, tenant and landlord representation, investment and loan sale advisory, space planning, design and construction and a unique platform of lenderfocused bankruptcy, receivership and distressed asset services. All services are provided inhouse, though a single point of contact, which guarantees that clients receive the most timely and efficient service available in the marketplace. Company Profile: Founded in 1987, Friedman Real Estate is one of the largest privately held commercial real estate organizations in the nation; currently managing over 15M SF of commercial space and more than 15,000 apartment homes located throughout the country. Friedman’s commercial brokerage team has over 800 current listings with $20 billion in closed transactions. Notable Transactions/Clients: • Troy Technology Park - Troy, MI • Sakthi Automotive Industrial Portfolio - Detroit • Greyberry Apartments - Waterford • Tiffany Plaza - Youngstown • West 11 Tech Park - Southfield

For advertising opportunities in this section, please contact Susan Mickey at or 773.575.9030 30


CONSTRUCTION COMPANIES/GENERAL CONTRACTORS ALSTON CONSTRUCTION COMPANY 1300 W Sam Houston Pkwy S, Suite 225 Houston, TX 77042 P: 713.904.2899 10440 North Central Expressway, Suite 720 Dallas, TX 75231 P: 214.363.0551 Website: Key Contact: (Houston) Nick Dwyer, Director of Business Development, (Dallas) Brittany Schneider, Director of Business Development, Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects. Company Profile: Alston Construction is celebrating 35 years of excellence in 2021, and we believe our success comes from being a true partner. With 21 offices nationwide, we have market knowledge throughout the country, which provides clients with the best building methods and materials available. Our goal is to provide quality, cost efficient projects that leave a positive experience for our clients and their communities. Notable/Recent Projects: Park 249 - 817,920 square feet LEED tilt-wall warehouse facility park including interior finishes for Amazon in Houston, TX; McKinney National Business Park – 150,000 square feet warehouse/distribution tilt-wall facilities in McKinney, TX; Restaurant Depot – 59,565 square feet pre-engineered metal retail building with cold storage in Pasadena, TX; Valley View Lane Warehouse – 160,000 square feet warehouse/distribution facility in Farmers Branch, TX

CADENCE MCSHANE CONSTRUCTION 5057 Keller Springs Road Suite 500 Addison, TX 75001 P: 972.239.2336 F: 972.239.1214 Website: Key Contact: Will Hodges, President, Services Provided: Cadence McShane Construction Company offers over 30 years of experience providing design-build, construction management at risk, preconstruction and general construction services on a national basis. The rm’s diverse expertise includes specializing in the Education, Multifamily, Senior Living, Commercial and Industrial market sectors. Company Profile: Headquartered in Dallas, Texas with regional offices in Austin, Texas, Houston Texas, and San Antonio, Texas, Cadence McShane Construction Company provides comprehensive construction services on a local, regional and national basis for a wide variety of market segments. The firm is the builder of choice in the state of Texas and its surrounding region as it deploys a culture of relentless service with an entrepreneurial spirit that originates from inside of each individual and helps constantly deliver reliable results of excellence. Notable/Recent Projects: Hermosa Village Apartments –Leander, TX – 238 modern farmhouse inspired garden-style units, offering one- two- and three- bedroom options.

DEVELOPERS PROLOGIS 2021 McKinney Ave., Suite 1050 Dallas, TX 75201 P: 847.420.8321 Website: Key Contact: Kate Rutherford, Regional VP, Services Provided: Prologis provides approximately 1,600 real estate professionals worldwide with extensive local market knowledge and development expertise to meet complex logistics and distribution requirements. Customers include third-party logistics providers, transportation companies, retailers and manufacturers. Company Profile: Prologis, Inc. is the global leader in logistics real estate with a focus on highbarrier, high-growth markets. As of September 30, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 797 million square feet (74 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,100 customers principally across two major categories: business-to-business and retail/online fulfillment.

NATIONAL ENVIRONMENTAL SERVICES Houston, Texas • Redlands, California


National Environmental Services, with offices in Houston, Texas and Redlands, California, is an environmental consulting company, established in 1995, that conducts a full range of reliable and cost-effective environmental assessment and corrective services, with competitive pricing and convenient turnaround.

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National Environmental Services 5773 Woodway Dr, Suite 96, Houston, TX 77057: Phone (281) 888-5266 700 East Redlands Blvd, Suite U618, Redlands, CA 92373: Phone (951) 545-0250 Toll Free: (833) 4-Phase1 •

2537 S. Gessner, Suite 126 Houston, TX 77063 Address Service Requested


If this person is no longer with your company, please notify or call 713.661.6300

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