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2024 market insights: Texas CRE growth driven by population boom and high-end demand Rounding out 2024, Texas’ commercial real estate market continued to flourish with Class A properties, multifamily developments and office space in high demand, according to experts who weighed in on the year’s trends and opportunities.
Experiential features and datadriven marketing: Texas retail adapts for the future In an era when online shopping has transformed consumer habits, Texas retail developers are finding innovative ways to draw shoppers back to physical spaces. One standout approach: integrating experiential elements like interactive fountains and themed environments that immerse visitors and encourage lingering.
Leading the way: Celebrating women who drive success in Texas CRE This issue of REDnews proudly celebrates the achievements insights, and leadership of women in commercial real estate, who bring diverse perspectives and vital expertise to the field.
2024 market insights: Texas CRE growth driven by population boom and highend demand
BY BRANDI SMITH
Rounding out 2024, Texas’ commercial real estate market continued to flourish with Class A properties, multifamily developments and office space in high demand, according to experts who weighed in on the year’s trends and opportunities. Brooke Armstrong, president of CBRE’s Advisory Service for Texas, Oklahoma, and Arkansas, painted a vibrant picture of the Texas landscape, with input from Marcy Phillips, senior vice president at Ryan Companies, and Torrey Littlejohn, managing director at JLL.
“2024 was a continuation of trends we were already seeing in Texas,”
Armstrong said. “We are the best place in the country for companies to do business and own real estate.”
This sustained growth is largely tied to Texas’ population boom, a factor that Armstrong said continues to attract businesses and drive a robust demand for top-tier, Class A commercial spaces.
From the office perspective, mixed-use developments have gained popularity as employers seek spaces that reduce commutes and enhance
Photo courtesy of Pixabay
live-work-play experiences. This shift aligns with a post-pandemic trend in which attractive, highquality workspaces lure employees back to the office. Following periods of hesitation in tenant decisions, often tied to financial market uncertainties and shifting workplace mandates, companies are increasingly moving forward with decisions that had been on hold.
“While Q3 and Q4 are usually some of the busiest of the year, it’s been an especially exciting period as more requirements and business opportunities are starting to materialize, which will carry us into the new year,” Littlejohn added.
JLL’s strategies focused on providing customized solutions tailored to each client’s unique industry needs.
“It’s important for companies to understand the benchmarking, challenges and solutions their peers have been able to use,” Littlejohn explained.
By bringing in data from across industries, she said JLL aims to help corporate clients make informed choices that align with market realities. That’s especially valuable as demand for Class A office space has become a competitive race, especially in markets like Dallas’ Uptown area.
“There’s not as much available as it seems, especially with construction dwindling,” Littlejohn said, adding that scarcity has intensified competition among prospective tenants looking for two-floor spaces. “For us, it remains important to be strategic and keep our tenants up to date
2025 San Antonio, TX commercial real estate forecast
Brooke Armstrong Torrey Littlejohn Marcy Phillips
“Site selection has become highly competitive, with developers racing to break ground first. Municipalities just outside the Austin city limits have responded by tightening zoning ordinances, pushing for mixed-use communities instead.”
on what’s happening in the market so they can make informed decisions.” For multifamily and mixed-use projects, Phillips highlighted a natural slowdown in Austin, something she said was expected after a surge of new projects launched between 2021 and 2023. Rising interest rates and slowing job growth further contributed to a more tempered pace, with a projected “supply cliff” in 2025 that could allow the market to stabilize.
“Site selection has become highly competitive, with developers racing to break ground first,” said Phillips of how developers are navigating an increasingly complex entitlement process as city regulations tighten.
“Municipalities just outside the Austin city limits have responded by tightening zoning ordinances, pushing for mixed-use communities instead.”
Looking forward, she predicted strong demand fundamentals in highgrowth submarkets around Dallas, drawing both capital and tenant interest. Phillips sees 2025 as an opportunity for the multifamily sector to provide “best-in-class offerings,” catering to a market increasingly selective about site quality and investment returns.
Armstrong shared Phillips’ optimism about Texas’ attractiveness as a commercial hub. She pointed to Texas’ emerging status as a prime destination for financial services with Dallas set to host the newly announced Texas Stock Exchange.
“This would be an enormous driver for economic growth in Dallas and Texas as a whole,” Armstrong said.
The state’s retail and industrial markets have also demonstrated resilience and growth. Armstrong observed that while e-commerce has prompted retailers to adapt, demand for in-store experiences has remained robust. Meanwhile, industrial demand in Texas has been steady, with surging interest in data centers driven by advancements in AI.
“There have been challenges with uncertainties in the financial markets, particularly with capital markets,” Armstrong said. “Texas has weathered the storm much better than other states, and we expect activity to increase even more now that the Fed has had two consecutive rate cuts.”
Armstrong underscored CBRE’s commitment to helping clients navigate this dynamic landscape. By connecting its local, national and global resources, CBRE aims to deliver value and strategic insights to clients navigating a constantly evolving market. Armstrong highlighted notable transactions this year, including Wingstop’s 112,000-squarefoot headquarters lease in Dallas, as a testament to CBRE’s capacity to drive outcomes even during uncertain times.
As Phillips, Armstrong and Littlejohn prepare for 2025, they each anticipate continued demand for high-quality spaces across Texas’ diverse markets.
“Flexibility is key,” Littlejohn said, whether in terms of office expansion, parking needs or the ability to shift workplace dynamics. “While new construction is amazing and the Dallas skyline has transformed so much over the years because of it, it is not the only answer for tenants looking for office space.”
She added that Dallas-Fort Worth’s mix of newly delivered and highquality existing spaces would continue to meet tenant needs in the coming year.
“As we wrap up 2024 and head into 2025, I am cautiously optimistic,” Littlejohn said.
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Experiential features and data-driven marketing: Texas retail adapts for the future
BY BRANDI SMITH
In an era when online shopping has transformed consumer habits, Texas retail developers are finding innovative ways to draw shoppers back to physical spaces. One standout approach: integrating experiential elements like interactive fountains and themed environments that immerse visitors and encourage lingering.
“Since the pandemic, there has been a significant shift towards creating experiences for retail shoppers, to give consumers a compelling reason
to visit a brick-and-mortar store that they can’t get online,” said Sarah Shores, Vice President of Administration at Outside the Lines, Inc. (OTL).
Shores shared that OTL’s water features and show fountains, seen in high-profile Texas retail centers, are designed not only to beautify but to transform these spaces into destinations.
“We’re seeing outdoor centers and even older shopping malls invest and
EpicCentral in Grand Prairie
reinvest in amenities, including water features, to help create a unique and immersive experience consumers won’t find from behind a screen at home,” Shores explained.
Texas’s strong retail performance, with major cities such as Austin, DallasFort Worth (DFW), Houston and San Antonio boasting occupancy rates above 95%, underscores the sector’s adaptability. Developers have increasingly turned to experiential features to meet shifting consumer expectations. At TexasLive! in Arlington, for example, OTL’s fire-enhanced fountain has become a prime gathering spot, doubling as a popular location for social media photos. Such immersive elements, Shores noted, are powerful tools for retail centers, creating experiences that bring visitors back again and again.
Advanced technology like artificial intelligence (AI) further amplifies the value of these experiential features, elevating the in-person experience while delivering actionable insights. OTL’s Aquarius Interactive™ system, for instance, has added an AI-driven layer to water installations like the Illuvia fountain at EpicCentral in Grand Prairie.
“Aquarius Interactive™ is activated when guests walk by or near the fountain, and the fountain reacts with changes to the water jets and lights,” Shores said.
This AI interaction, which tracks movement, position and size of visitors, enhances engagement by responding dynamically to guests’ presence. Shores emphasized that the AI aspect not only draws in crowds but also captures valuable data on foot traffic and dwell times, helping property managers tailor the space to consumer behavior.
This seamless integration of technology into the physical retail environment is echoed by Leisa Barger, Chief Marketing Officer at Weitzman, who champions data-driven approaches across the company’s Texas retail portfolio.
“Data is today’s currency, and my team and I live by this mantra,” Barger stated, noting that data analysis and advanced customer tracking have become essential tools for retaining tenants and understanding shopper preferences.
AI-driven analytics, Barger added, are pivotal for crafting marketing strategies that enhance tenant engagement and maintain high occupancy across Texas.
“When retail properties offer an amenity that is both entertaining and social-media worthy, it’s a win-win.”
“It’s all about leading your shoppers to where you are as seamlessly as possible,” she said, pointing to search engine optimization (SEO) as one of the most effective tools in reaching consumers. “In some cases, we’re delivering upwards of 100% increases in search and online viewers due to the success of having a highly strategic team implement exciting new SEO search strategies.”
The emphasis on digital marketing has further strengthened Weitzman’s position in Texas’s retail market, especially in grocery-anchored and mixed-use centers. During the pandemic, when foot traffic waned, Weitzman evaluated the digital presence of its 3,500 tenants and assisted those with limited online visibility.
"Small retailers who worked with our team to improve their digital and e-commerce capabilities saw their traffic rise 25% to 28% on average after implementation,” Barger siad.
By bolstering tenants’ online engagement, Weitzman has helped secure Texas’s status as a retail leader, even as digital shopping continues to surge.
Experiential development and AI-enabled analytics are transforming Texas retail in ways that go beyond traditional tenant mixes. Shores sees AI’s role expanding beyond fountains, envisioning future applications like interactive lighting that guides visitors through stores or personalized paths to highlight specific products.
“This technology can add another layer of engagement and excitement for consumers without them even realizing it’s there,” Shores said, underscoring how AI not only enhances the customer experience but also delivers data that helps developers and retailers refine their offerings.
These advanced AI and digital strategies will be integral in meeting shifting consumer demands, according to Shores and Barger, who both believe Texas’s retail landscape is well-positioned for growth thanks to its commitment to creating environments that resonate with communities while leveraging data to optimize every aspect of the consumer journey.
Shores summed it up: “When retail properties offer an amenity that is both entertaining and social-media worthy, it’s a win-win.”
Leisa Barger Sarah Shores
Leading the way: Celebrating women who drive success in Texas CRE
BY BRANDI SMITH
This issue of REDnews proudly celebrates the achievements insights, and leadership of women in commercial real estate. From trailblazing mentors and dynamic advisors to those driving industry innovation, these women bring diverse perspectives and vital expertise to the field. Their stories serve as a testament to the growing influence of women in commercial real estate, inspiring the next generation to build their paths in this challenging yet rewarding industry.
Cathy Nabours: Innovating in capital markets and fostering industry inclusivity
With more than two decades in commercial real estate, Cathy Nabours, Managing Principal at SRS Real Estate Partners, has carved a respected niche in the Central Texas market. Her expertise in multi-tenant investment properties has positioned her as a trusted advisor to top clients, including Crow Holdings and Kimco.
“Ten years ago, I was with a company in which only 5% of the Capital Markets brokers were women,” Nabours recalled, explaining the efforts she led to recruit young women and encourage their advancement in brokerage. “The women working in commercial real estate today are supportive, collaborative and willing to help.”
Her initiatives have paid off, as she has witnessed many of these women transition to significant roles within the industry. Nabours’ forward-thinking approach is also evident in her embrace of new technology.
“The women working in commercial real estate today are supportive, collaborative and willing to help.”
“My patience and expertise have resulted in my clients seeing me as a partner and not just a broker”
“We all need to be up to speed with improvements in technology and especially AI,” she said, describing her team’s recent work on incorporating AI into marketing strategies.
The pandemic was another pivotal moment, allowing Nabours’ team to stay connected with clients across markets.
“Ultimately, these conversations were a terrific reminder of the importance of sharing information—especially when the market is down, and times are tough,” said Nabours.
ADVICE FROM NABOURS: “Seek opportunities to be part of a team where you can add value by being resourceful, hardworking and detailed.”
Jamie Safier: Navigating success with purpose
Jamie Safier, Managing Director of Capital Markets at Marcus & Millichap, brings both financial insight and relational expertise to commercial real estate. Originally from a finance background, Safier pivoted from investment banking to debt and equity advisory, finding her calling in clientcentered, strategic advisement.
“Being an advisor still allowed me to practice finance while also helping clients grow and achieve their goals,” she explained.
Cathy Nabours
Jamie Safier
“While today women are still underrepresented, it is not because they are not qualified or capable of succeeding. If women want to get into commercial real estate, there is nothing that will stop them.”
One early career highlight involved securing $32 million in acquisition financing for a client’s largest deal in Houston’s Spring Branch area. This experience emphasized Safier’s approach to advising not only as a broker but as a dedicated partner.
“My advisory time may not always translate into fees, but my patience and expertise have resulted in my clients seeing me as a partner and not just a broker,” she shares.
Safier’s role is more than transactional; she has cultivated long-term partnerships with clients, some of whom she has guided from their first multifamily acquisition to significant portfolio expansions.
Underscoring the importance of perseverance in a male-dominated field, Safier now uses her journey to leverage her visibility to support other women entering the industry.
“It’s allowed me to be more memorable and stand out,” she said.
A mom of three young children, Safier noted that she’s learned how to balance her work and personal lives while remaining centered.
“Achieving my best professional year while pregnant and raising two children was a product of balance and having a strong support system both with my family and with my professional team,” Safier said.
ADVICE FROM SAFIER: “Prioritize balance and stick with it!”
Allyson Yost: Championing industrial real estate and women’s entry into the field
Allyson Yost, Executive Vice President at Colliers, has built a career that bridges her legacy as the daughter of a broker and her vision for an inclusive commercial real estate field.
“My comprehensive knowledge of the North Texas industrial market has allowed me to maximize my clients’ value,” Yost said, crediting her dedication to market insight as a key to her success.
However, her impact extends beyond client work; in 2020, she co-founded IWIRE North Texas, a supportive network dedicated to integrating more women into the field. Yost’s mission with IWIRE goes beyond mentoring, creating a space for women to share their experiences and receive support as they navigate the industry.
“I have made it a point to find ways to educate and make it comfortable for women to enter the industry,” she stressed. “While today women are still underrepresented, it is not because they are not qualified or capable of succeeding. If women want to get into commercial real estate, there is nothing that will stop them.”
Yost’s pride in her work is evident in a recent project, where she saw several women from IWIRE contribute to a large build-to-suit deal.
“What makes me the proudest is realizing how many women new to the industry were involved in this project and proud to call it their ‘first project,’” Yost said.
ADVICE FROM YOST: “Don’t limit or hold yourself back. Do your research and figure out what part of the industry you want to concentrate on, then get coffee or lunch with others in the industry. Find where you want to be and who will allow you to grow and go for it.”
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Allyson Yost
2024 Houston Women in Real Estate & Construction Summit
BY RAY HANKAMER
Panel One-Women in Real Estate – Leaders & Pioneers
Takeaway: In an industry originally dominated by men, women have become important players, all the way up in some cases to CEO of their companies. Mentorship by helpful men along the way has greatly aided hard-working women in CRE.
Bullets:
• Men continue to give women help and encouragement; most coworkers of both genders are usually available to offer help and counsel
• A woman must know what she can contribute and bring to the table, and then not be afraid to speak up
• “We are all professionals”, and gender should not matter
• Be confident and willing to learn, and speak up when you are sure you can add to the conversation
• Don’t be afraid to approach someone to be your mentor/coach when you are starting out
• Good work most often produces good results; surround yourself with honest, supportive people
• Your hard work will be recognized and will be rewarded in good time; keep dreaming big!
• Don’t be stingy when it comes to attending professional events, which provide good networking; this is a collegial business and we all depend on referrals from people who trust us and respect us as professionals
• While on the way up, pave the way for other women
• Find a synergy with the men in your organization and work with them; be professional and confident
• Make your skills known and don’t be shy to remind colleagues of your contributions and your achievements; articulate and negotiate what you want
• If you allow yourself to accept a low-ball commission on a deal, you are penalizing other women who are coming up behind you
• Focus on doing something in CRE you love, and the money will come
Takeaway: A company cannot grow without diverse ideas, and these come from the men AND women in an organization. Remain open to change and to input from they younger generation, which is often more tech-savvy than the older employees. Never be too shy to speak up when you have something you know is important to add to the conversation.
Bullets:
• Figure out how to be heard in your organization; develop male mentors and advocates who believe in you
• Be seen. Be heard. Never give up as a woman.
• Diverse mindsets are essential to the growth of any organization-our Houston is a wildly diverse city, so take advantage of our momentum
• Always remind open-minded to change
• Start incenting future workers in our industry at a younger age-don’t wait until college, but start in high school, or younger by exposing young students (women!) to careers in CRE
• You must love what you do, and if you don’t you will be miserable
• Older professional women should engage with younger ones in CRE, to help them get started
• Show young entrants the benefits of engaging with fellow professionals through industry organizations
• Never be afraid to jump out of your comfort zone with fresh ideas
• Share with people where you want to be, where you want to go
Panel Three-Jobs & Recruitment: Helping Women Enter the Commercial Real Estate Industry (CRE) Moderator: April DanielREDNews Panelists: Elke Laughlin- Laughlin Consulting Group; Jackie Thomas-Landpark Advisors; Melissa Gerber Brams-Gerber Realty; Susan Hill-JLL
Takeaway: Take another younger woman under your wing until she can fly on her own. Both men and women can mentor young women entering the CRE arena. Older professionals are almost always flattered to be asked to share their experience.
Bullets:
• Always continue to add the people to your network of contacts who have the knowledge and experience that you need
• Never be afraid to pick up the phone and ‘ask someone to coffee’ to get to know them and to establish a relationship
• Help others and it will be remembered
• Personal hand-written thank you notes are often unexpected and sincerely appreciated by the recipient
• Take advantage of the wealth of CRE organizations out there, such as ULI, Biznow, NAIOP, IREM, CCIM, and CREW, where you will meet others like yourself AND learn the latest news about our industry
• Don’t be afraid to ask your fellow professionals “How can we do deals together?” “How can we work together?” SO much of business is done through relationships
• The best way to get business is “to ask for it”
• LinkedIn is a key tool to do background searches on fellow professionals
• Make yourself as visible as possible in our industry
• Never lose an insatiable appetite to learn, and remember how much is online at your fingertips
• How to surmount any pay gap for women? ASK for what you are worth. Your raise may not ‘just automatically come’…
• You gotta be your own advocate!
• Not just one thing creates success-it is a “staircase”…it may not be a straight line to achieve your goals
• Surround yourself with others who share your core values
• Identify what gets you excited in your field, then veer in that direction
• Celebrate your wins and don’t let your losses break your spirit
Takeaway: Office buildings and lease space buildouts are going through a major period of evolution, with employees returning from home and demanding new amenities at the office. Landlords are experimenting with new strategies to snag tenants and hold on to them. There is a burst of creativity underway.
Bullets:
• Office vacancies in Houston on average since 2015 have been in the 70% range, although the market is bifurcated between buildings built since 1985, with the more modern Class A product with state of the art amenities sporting occupancies in the 90s
• Amenities in and around the building are key to attracting tenants’ workers back in from home
• Some building owners are ‘over the barrel’ with their lenders with older buildings and their older buildings are less attractive and the owners find it too costly to add today’s amenities, creating a downward economic spiral
• There are ‘buyers out there’ acquiring distressed assets, buyers who have the funds to bring the buildings up to current standards
• Amenities today include things such as gyms, ample tricked-out conference rooms, large break areas with comfortable furniture (with arms on the chairs for older employees), good security, golf simulators, covered parking, and most recently AI supported electronics in the building
• In buildings there is a flight to quality: C to B, B to A
• Location in an amenity-filled neighborhood is very important, in areas such as City Centre and Memorial City
• More and more landlords are building out spec suites, ready for occupancy, as opposed to leaving full floors unbuilt out, waiting for ‘that big tenant’… spec suites may start as low as 1,500 ft and go up from there…some tenants can’t wait for today’s long buildout time for a custom suite; some full floors stayed vacant for three years but leased up quickly once they were built out with spec suites
• For suburban tenants, West Houston and The Woodlands are in demand… there is migration to the Energy Corridor and the ‘Greater Memorial’ area; Galleria leasing is going fairly well; the CBD is doing fairly well but still has a substantial vacancy rate…Greenspoint and pockets in the SW sector are showing some leasing weakness
• Many office workers live in West Houston, which influences their preferences
• Owners should evaluate what adds and what takes away ‘energy’ from their building; owners and property managers must keep their ears carefully tuned to the evolving desires of tenants, and not abandon the personal touch to tenants large and small
• Our city is well-positioned for population growth, which has been about two per cent this past year alone…there are tons of new jobs but an ever-widening variety of space layouts and amenities are wanted
• Different sub-markets have tenants with different needs for suite size and suite configuration; 10-15,000 SF is the average suite size, and the trend is going away from co-working space back to private and quiet individual offices
• Houston leads the nation in ‘back to work at the office’, and employees are now averaging 4 days a week there
• Lease rates rise in step with increases in construction costs, and other operating costs, such as insurance…so, rental rates are steadily trending up
• Tenant categories poised to expand include life sciences, healthcare, clean energy, and financial services
Panel 2-Management Strategies to Operate Your Building Effectively & Efficiently Moderator: April Daniel, REDNews Panelists: Kelly Wheeler, Transwestern; Kim Hannigan, MetroNational; Lillie Norton, Lee & Associates
Takeaway: There is no longer a one type fits all lease space build out template, and different companies with different cultures demand space that fits them. Tenants know all about the latest technology and want it delivered to them in their building, and new technology abounds. But with all the drift to technology, building managers need to remember the ‘personal touch’ is expected from tenants, and it must not be forgotten.
Bullets:
• Owner/manager/tenant relationships must pivot on the needs of the tenant, and management must be proactive in this area
Ray Hankamer
• Respect and listen to tenants, large and small, and keep in mind that every tenant’s needs are different; constant communication is key
• Tenants may ASK for the latest tech, but do they really want to pay for it?
• AI will change the way management of buildings works; owners have to embrace technology or get left behind by their competitors
• There are many new ‘smart systems’ for buildings, including cameras and other security, but are they cost-effective when it comes to getting the tenant to pay higher rent to cover these systems?
• Managers and owners should prepare for unexpected surprises such as floods, electricity cuts, wind damage with blown out windows, fire, and other. Systems to contact tenants must be in place, no matter what the unexpected event
• Are generators practical and is there a dependable fuel supply to them? Tenants are conditioned to immediate and responsible reaction to the unexpected, and can you as manager measure up?
• Tenants expect operating efficiency in your/their building, and they want management to focus on every detail of their life in your building
• Some tenants may be in their lease spaces not just 8 hours a day, but 24/7… are accommodations in place for this?
• Office managers should borrow from the hotel/hospitality industry to sow goodwill among tenants at every occasion
REAL ESTATE
• Imagine accommodating every different unexpected need of your tenant, including the ‘need’ to bring dogs and other animals into the building….do you have a plan for that?
• Some management teams have smiling greeters in the lobby in the morning and afternoon, as tenants enter and exit the building; make people feel important and that they have a ‘connection’ with the management team
Tenant Improvements & Building Upgrades
Moderator: Brad Porter, Porter Law Firm Panelists: Alyse Makarewicz, AMB Architects; Jay van Kessel, Dunhill Construction; Juli Cash, HOK; Vince Flickinger, Gensler
Takeaway: Designing and buildout of office suites is extremely complicated today, with logistics issues, permitting delays, specialized needs of the various tenants, and not least costing out of the work. Newly popular amenities require expertise for the planners and general contractors that were not called on before, and this may include complicated expansion and redesign of restrooms, for example, as building with denser occupancy per floor demand it. Collaboration among the design teams, the tenants, the contractors, and the owners is needed more now than ever.
Bullets:
• Some buildings are adding pickle ball courts, golf simulators, professional fitness centers, and mothers’ rooms which were never before present in office environments, and this requires collaboration with a whole new set of specialists
• The level of amenities in a stand alone building may be greater if the building is not in an amenity-filled walkable neighborhood
• Good quality furniture in the lobby is increasingly a ‘requirement’, both practically and for the aesthetics of the building
• It pays in today’s market to have built-out spec suites to show the prospective tenant what the building can offer-these spec suites can range from 3,00010,000 SF
• Higher density floors may require re-working restroom capacities
• There has been a lot of ‘turbulence’ in the tenant improvement field in the last five years, both during and following Covid
• There continues to be long wait times for some building materials for TI, exacerbated by demand for new amenities never required in office building before; designers and tenants must be flexible if what they want is not readily available
• Far more coordination among designers and suppliers and contractors is currently required, since so much ‘new’ is coming to lease space buildout
• There is a flight to quality but someone has to pay for it
• For new buildings, TI buildout is more expensive than for those moving into second generation space; some really high end buildouts can get enormously expensive
• And with today in somewhat of a turmoil, we don’t even know what is coming in say five more years!
• Generally it is easier for landlords to work with the less demanding smaller tenant
• Sound control is the latest ‘demand’ for employees who want quiet work space, and noise control is not cheap in a built out space; more and more glass is noisy and hard to sound-insulate
• A suite designer must take into account the office politics of the tenant in choosing what size and location of the offices; overall the trend is going to smaller individual offices, with nearby small conference rooms when needed; every tenant has its own ‘culture’
• Demand for privacy in the employee’s workspace is increasing
Panel 2 - Management Strategies to Operate Your Building Effectively & Efficiently: April Daniel (REDnews), Kelly Wheeler (Transwestern), Kim Hannigan (MetroNational)
Panel 3 - Tenant Improvements & Building Upgrades: Jay Van Kessel (Dunhill Construction), Vince Flickinger (Gensler), Juli Cash (HOK), Alyse Makarewicz (AMB Architects), Brad Porter (Porter Law Firm)
MetroNational’s Cindy Magourik, Kim Hannigan, and Susannah Jenkins enjoy the Summit
Houston Women in Real Estate & Construction Summit
Panel 2 – Women in Construction, Development, & Design: Kimberly Barrow (O’Donnell Snider Construction), Micki Washington (BP), Sally Campbell (Inventure), April Daniel (REDnews)
Panel 3 – Jobs & Recruitment – Helping Women Enter the Commercial Real Estate Industry: Susan Hill (JLL), Melissa Gerber Brams (Gerber Realty), Jackie Thomas (Landpark Advisors), Elke Laughlin (Laughlin Consulting Group), April Daniel (REDnews)
Nathaliah Naipaul: REDnews Woman of the Year, Nathaliah Naipaul (XAG Group) moderates the Women in Real Estate Leaders & Pioneers Panel
Panel 1 – Office Market Update: Logan Dalgleish (CRESA), Drew Hanish (PRAVO Constructions), DeLea Becker (Beck-Reit Commercial Real Estate), Carl Condon ( Avison Young), Alex Taghi (Franklin Street)
Panel 2 – Industrial Market Update: Brett Zimmerman (M2G Ventures) , Matt Jacobs (Cushman & Wakefield), Neerja Kwatra (Asterra), Tripp Rich (DMRE), April Daniel (REDnews)
Always good to see Joe Loverdi (South Texas Survey Associates), April Daniel (REDnews)
Panel 3 – Retail Market Update: Nick Tarantino (Tarantino Properties), Ethan Offenbecher (Sands Investment Group), Michael Noteboom (Resolut RE), John Heffington (SHOP Companies), April Daniel (REDnews)
Panel 4 – Austin Apartment Market Overview: Israel Linares (CoStar Group), Chris Stutzman (Texas Multifamily Advisors), Kent Myers (Institutional Property Advisors), Ari Rastegar (Rastegar)
SCOOP/PEOPLE ON THE MOVE
Benoit Rochard hired at Northmarq
Northmarq welcomes Benoit Rochard to its Multifamily Investment Sales team in Austin. Rochard will lead multifamily investment transactions, bringing extensive experience in acquisitions, asset management, financing and investor relations. Throughout his career, Rochard has led the acquisitions of more than 26,000 multifamily units and raised over $1.25 billion in equity. Previously, Rochard has held leadership roles with GVA, Sonder and CFH Investment Partners.
Jim Henry hired at Southern Land Company
Jim Henry has joined Southern Land Company as Executive Vice President, Single-Family Community Development. With more than 25 years of experience in real estate development, including single-family community development, Jim oversees SLC’s singlefamily and master-planned communities in each phase of their life cycles, from ideation to delivery. SLC has single-family and master-planned communities in development in Tennessee, Texas, and Colorado. Jim is based in SLC’s Plano, Texas office.
Quinn Konitshek hired at Cityview
Cityview, a premier multifamily investment management and development firm, has hired Quinn Konitshek as the firm’s new Director of Acquisitions. Konitshek will help Cityview expand its pursuit of strategic stabilized and ground-up acquisition opportunities across the Southwestern U.S., particularly in Texas, Arizona and Colorado.
Konitshek’s hire comes at a time of rapid growth for the firm when Cityview is highly focused on acquiring deals and deploying capital from its recently closed fund.
Brett Franklin promoted to Senior Vice President at Franklin Companies
Franklin Companies has promoted Brett Franklin to Senior Vice President. In this new capacity, he will continue his work in development while also taking on responsibilities for the company’s financial operations and executive oversight of all communities, including Franklin-owned assets.
Brett graduated magna cum laude with a BBA in Finance and Real Estate from the McCombs School of Business at the University of Texas. While at UT, Brett held a leadership role with Young Life, where he mentored high school students in following Jesus Christ.
Suryadithya (Adi) Rayudu, P.E. promoted to Senior Associate at Terracon Consultants Inc.
Terracon is proud to announce the promotion of Aditya Rayudu, P.E. to Senior Associate. With 13+ years’ experience in engineering consulting, he leads DFW transportation group and provides geotechnical services for vital transportation projects in and around the metro. He is responsible for business development, employee development and ensuring excellence in client service. He currently serves as a board member and Treasurer of American Society of Highway Engineers (ASHE) DFW division.
Texas’ Scarborough commercial real estate adds associate
Tyler, Texas-based Scarborough Commercial Real Estate added Becky Wilson as an associate. In her new role, Wilson will help clients achieve their real estate goals – whether buying, selling, or leasing –across East Texas.
Wilson was previously a Certified Agent Support Specialist and Operations Manager for Marcus &
Millichap REIS, managing the Fort Worth, Tulsa and Oklahoma City offices. Upon moving to Tyler, Becky became a residential real estate agent, as well as the Director of Operations and Marketing for a local commercial real estate firm. She brings nearly a decade of experience in both the commercial and residential sectors of the real estate industry.
Sperry expands into Houston with new affiliate
SPERRY announced that veteran commercial real estate professionals Al Karmali and Ian O’Connor are joining the firm as an affiliate under the name Sperry-MTX Commercial. The new affiliate will be based in Houston, Texas.
Led by Karmali who serves as owner and O’Connor who serves as managing director, Sperry-MTX Commercial specializes in leasing and investment sales of commercial real estate in the Dallas/Fort Worth and Houston, Texas areas.
Karmali and O’Connor are prominent figures in the Texas commercial real estate industry. Kamali also currently serves as President and CEO of DFW Hospitality Group, LLC, Texas Energy, Inc., Sterling Global Resources / Sterling Equity Partners, Alyah Holdings, Inc., and Karmali Holdings, Inc. O’Connor previous worked in real estate development and brokerage for firms including Shamrock Rental Properties LP and The Woodmont Company.
Transwestern Real Estate Services hires manager of sustainability and ESG in Houston office
Transwestern Real Estate Services added Ravi Bajaj as Manager of Sustainability and ESG in its Houston office.
Collaborating with Asset Services, Bajaj will build and implement comprehensive environmental programs that enhance the performance and value of client and investor assets. This includes outlining objectives and tactics, establishing policies and KPIs, and engaging internal and external stakeholders to promote successful ESG initiatives.
CRE MARKETPLACE
ARCHITECTS/DESIGN-BUILD FIRMS
KDS de stijl interiors, LLC
2006 E Cesar Chavez St. Austin, TX 78702
P: 512.457.1332
Website: kdsaustin.com
Key Contacts: Jill Laverentz, Owner, jill@kdsaustin.com; Clark Kampfe, Principal, clark@kdsaustin.com
Services Provided: Programming & Client Process Analysis – Due Diligence & Building Analysis – Schematic Design – Test Fit & Pricing Notes – Project Scheduling Goals – Consultant Team Formation – Cost Analysis & Value Engineering – Design Development – Construction Documentation – Racking, Commodity, & Equipment Coordination – Permit Processing – Project Management – Construction Administration – Project Budgeting & Cost Tracking – As-Built Documents
Company Profile: KDS is a full-service commercial design firm with 30+ years of experience including 25,000,000+ SF of Industrial/Flex and 3,000,000+ SF of Office Projects. We are committed to responsiveness and to providing well designed and implemented solutions. Our extensive knowledge base and adept management of critical milestones creates consistently successful projects.
Notable/Recent Projects: American Canning – Austin, TX – 101,000 SF –Manufacturing & Distribution
FlightSafety International – TX & OK – 186,000 SF Combined – Manufacturing GT Distributors – Pflugerville, TX – 58,000 SF – Retail, Office, Fabrication, Storage & Distribution
LGE DESIGN BUILD
280 E. Levee Street Dallas, TX 75207
P: 469.498.0998
Website: lgedesignbuild.com
Key Contact: Ray Catlin, Regional Vice President, rcatlin@lgedesignbuild.com
Service Provided: LGE Design Build provides comprehensive design and construction services, including architecture, engineering, and interior design. LGE specializes in commercial, industrial, retail, healthcare, and tenant improvement projects. Utilizing a client-centric, design-build model, LGE ensures streamlined processes, reduced costs, and sustainable building practices for customized, high-quality results.
Company Profile: LGE, with dual headquarters in Phoenix and Dallas, provides full-service architecture, design, engineering, budget control, permits, and construction. Renowned for integrity and craftsmanship, LGE has completed over 1,200 projects across industries like industrial, office, hospitality, medical, and more, delivering award-winning designs.
Notable/Recent Projects: LGE Dallas Headquarters, Mesquite 635, Fort West Commerce Center, Houston Point 290, Cypress Creek Distribution Center, McKinney Trade Center II, Sunridge Industrial Park, Park West Phase III, Bottled Blonde / Backyard Fort Worth.
BROKERAGE FIRMS
CMI BROKERAGE
820 Gessner, Suite 1525
Houston, TX 77024
P: 713.961.4666
Website: cmirealestate.com
Key Contacts: Trent Vacek, tvacek@cmirealestate.com; James Sinclair, jsinclair@cmirealestate.com
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.
Key Contact: HOU: Nick Dwyer, Director of Business Development, ndwyer@alstonco.com
DAL: Brittany Schneider, Director of Business Development, bschneider@alstonco.com
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’s success begins and ends with our approach to planning, scheduling, and choosing the right team. We have been adhering to an open and collaborative approach since our founding more than 35 years ago.
Notable/Recent Projects: Innovation Ridge Logistics Park, a 1.1 million SF 3 building industrial business park in Forney; 610 Business District, a 388,795 SF industrial park located in Houston; 1.2 million SF logistics facility located in Conroe.
SUMMIT DESIGN + BUILD, LLC
98 San Jacinto Blvd, 4th Floor
Austin, TX 78701
P: 512.872.6698
Website: summitdb.com
Key Contacts: Adam Miller, President, amiller@summitdb.com;
Doug Hayes, Project Executive, dhayes@summitdb.com; Amber Autumn, Business Development, aautumn@summitdb.com
Services Provided: Summit Design + Build, LLC is a provider of full service general contracting, construction management and design/ build construction services for the commercial, industrial, multifamily residential, office/tenant interiors, hospitality and institutional markets.
Company Profile: Located in downtown Austin and with offices in Tampa, FL, Chicago, IL and North Carolina, Summit Design + Build has been involved in the design and construction of over 400 buildings and spaces totaling more than 10 million square feet over the firm’s 18 year history.
Notable/Recently Completed Projects: Montage – 2323 S. Lamar (Multifamily), Congress Lofts at St. Elmo (Multifamily), UpCampus Student Housing Tallahassee (Multifamily), WeWork (Office TI), Eli’s Cheesecake (Industrial), Lockheed Martin (Industrial), Stadium Lofts North Carolina (Multifamily).
HEALTHCARE MOB
PUREFYT COMMUNITY CARE
14205 N MoPac Expy, Suite 570 PMB #565290 Austin, TX 78728
Services Provided: Mobile Medical Services; emergency medical services; medical service company; emergency medical services; family health medical services; behavioral health services; behavioral mental health; behavioral healthcare services; behavior health services; behavior health service; advanced behavioral health services; mobile iv therapy; mobile iv therapy near me; mobile iv therapy austin; community medical services.
