News Summary
Texas is experiencing a surge in real estate demand, leading to expansions and property acquisitions by major firms like JLL, Newmark, and Stockdale Capital Partners. New appointments include Sean Salas at JLL and Philip Jones at Newmark, with other firms also enhancing their leadership teams. The retail sector is growing, and Capital Commercial Investments has acquired significant properties in Houston. Meanwhile, the Texas Energy Fund is financing new energy projects to bolster grid reliability, further shaping the real estate market in the region.
Texas is witnessing a surge in real estate demand, prompting significant personnel expansions and property acquisitions among leading firms in the region. JLL, Newmark, Stockdale Capital Partners, and DLA Piper are among the companies responding to the increasing need for clean-energy and commercial real estate services.
Sean Salas has recently joined JLL’s energy advisory and sustainability team as a vice president in Houston. With 12 years of industry experience, Salas will focus on sourcing energy-related clients, enhancing property performance, and developing renewable services. His previous role at Galehead Development saw him collaborate with utility operators and investment funds, equipping him well for his advisory role to JLL’s clients across the Americas.
In addition to JLL’s growth, Newmark is expanding its management teams in Arizona and Connecticut. The firm has appointed Philip Jones as a senior managing director and practice leader for its new trusts and estates specialty practice in Phoenix. His focus will be on valuation services for estate and gift tax planning, succession planning, and trust dispute resolution. Jones brings experience from Cushman & Wakefield, where he co-developed the trust and estates practice. Meanwhile, Brian Carcaterra has rejoined Newmark in Stamford, Connecticut, where he will serve as executive managing director, specializing in office tenant and landlord representation.
The retail sector is also experiencing growth as Stockdale Capital Partners enhances its leadership team. The firm has appointed Bastian Peters as managing director and co-head of retail asset management. His role will include overseeing retail management activities and facilitating investment evaluations. Additional appointments at Stockdale include Sam Palmer as managing director of multifamily asset management, Kenny Chu as director of tax, and multiple vice presidents across various asset management disciplines.
DLA Piper is expanding its real estate practice as well, hiring Devan Popat as a partner in Los Angeles. Popat has expertise in joint ventures, acquisitions, financing, and construction advisement. The firm has also welcomed Todd Eisner as a partner in its New York City real estate practice.
Furthermore, Global Location Strategies (GLS) has appointed Phil Schneider as a project principal, focusing on site selection, incentive negotiation, and economic development planning. Schneider’s past engagements include notable corporations such as Apple, Google, and Toyota, as well as collaborations with international economic development agencies.
In the realm of property acquisitions, Capital Commercial Investments has acquired Energy Crossing I, a 240,166-square-foot office building located in Houston’s Energy Corridor. Previously owned by Invesco Real Estate, the acquisition was facilitated by JLL. Capital Commercial also acquired the neighboring Energy Crossing II building in a separate transaction last year.
Despite the uptick in real estate activity, the Houston workforce market faces challenges due to a pullback in the energy sector, influenced by significant mergers and acquisitions. Nevertheless, Houston ranks fifth nationally for office investment volume this year, with total sales reaching approximately $1.2 billion.
Amid these shifts, NRG Energy has secured a $216 million loan from the Texas Energy Fund to establish a new natural gas-run power plant in Houston. Operations are set to commence in the summer, which is expected to bolster grid reliability in Texas. Current projects funded by the Texas Energy Fund could provide electricity to around 1.5 million homes by 2028.
Established to encourage the construction of additional gas-fired power plants following severe weather-related power outages, the Texas Energy Fund continues to play a pivotal role in addressing the region’s energy needs.
Deeper Dive: News & Info About This Topic
- Commercial Search: Invesco Sells Houston Asset
- Bloomberg: Trump’s Drill Baby Drill Meets Empty Real Estate in Houston
- JLL: Class A Office Building in Houston Trades Hands
- Houston Chronicle: Texas Energy Fund Greenlit $216 Million Loan
- Realty News Report: Real Estate Briefs Texas
- Wikipedia: Houston
- Google Search: Texas real estate
- Google Scholar: Real estate investment in Texas
- Encyclopedia Britannica: Texas
- Google News: Texas real estate market
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