Retail Capital Markets Group Expands in Houston
9 Oct, 2012, Houston
Cushman & Wakefield of Texas, Inc. (C&W) announces the addition of Trey Lipsitz and Kris Von Hohn to the retail investment sales team led by Tom Salanty, executive director in C&W's Dallas office. Both brokerage professionals will be based in Houston, focusing on clients and opportunities in the Houston metro area.
"While we have been active in Houston for many years, the area's explosive job growth, the lowest unemployment numbers among Texas major metros, household formation at double the national average, and Houston's annual retail sales growth of 15% (outpacing the national average by 50%), accelerated the need to expand our presence in the market," said Mr. Salanty.
Mr. Lipsitz and Mr. Von Hohn come to C&W from NAI Houston, where they created a successful Retail Investment Services Group, specializing in buyer representation and property dispositions for single-tenant, multi-tenant and large power center properties. Together Mr. Lipsitz and Mr. Von Hohn have more than 14 years experience in retail real estate. Prior to joining NAI, Mr. Lipsitz was the founder of Independence Properties, a full service brokerage firm specializing in retail.
"We are excited to be part of this team and the timing could not be better," said Mr. Lipsitz. "Our clients will benefit from merging our experience and market knowledge with the robust Cushman & Wakefield platform."
C&W's Texas-based retail investment group is now an eight-person team with the additions of Mr. Lipsitz and Mr. Von Hohn, consisting of more than 100 years combined experience. The group focuses on the sale of investment grade retail properties including grocery anchored, big box, and lifestyle properties in Texas and surrounding states, as well as urban-high street and regional mall properties nationally. The group is currently marketing and has closed more than $353 million of retail investment properties during the past 12 months.
"We expect Texas retail real estate values to improve as job growth continues and retailers adjust to proper store sizing," adds Mr. Salanty. "Dominant retail locations continue to out-perform most asset classes."
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