REDNews February 2026

2025 TEXAS ICONS

NATIONAL ENVIRONMENTAL SERVICES

Houston, Texas • Redlands, California

A 360° A PPR O A C H

T O ENV I RONMEN T A L

SE R VICE S

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.

• Phase I Environmental Site Assessments (ASTM E1527-21)

• Transaction Screens (ASTM E1528-22)

• Asbestos & Lead-Based Paint Inspections (Licensed Texas Asbestos Consulting Agency)

• RSRAs (Records Search with Risk Assessments)

• Phase II Subsurface Investigations*

• Remediation and Corrective Activities*

• Soil, Water, and Air Testing Services

• Remediation and Corrective Activities*

• Indoor Air Quality/Mold Surveys (Licensed Mold Consulting Agency)

• Underground Ground Storage Tank Testing Services*

THE TEXAS COMMERCIAL REAL ESTATE NEWS SOURCE

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Texas Investors Rethink Risk: San Antonio gains ground as discipline strengthens Texas investment sales activity has not disappeared, but it has slowed, narrowed and grown more deliberate. Capital that once moved quickly across markets is now advancing cautiously, shaped by higher borrowing costs, conservative underwriting and a persistent gap between buyer expectations and seller pricing.

No Longer One Market: Why Texas industrial demands a closer look For much of the past decade, Texas industrial has been discussed as a single, statewide phenomenon, buoyed by population growth, corporate relocations and an almost limitless appetite for space. But as the market moves further from the breakneck pace of the pandemic years, the differences between its major metros are no longer subtle. Scoop/People on the Move REDnews Events: Houston Industrial Summit

Texas Commercial Real Estate Icons We are thrilled to honor the 2025 REDNews Texas Commercial Real Estate Icons! CRE Marketplace 6

Texas Investors Rethink Risk: San Antonio gains ground as discipline strengthens

BY BRANDI SMITH

Texas investment sales activity has not disappeared, but it has slowed, narrowed and grown more deliberate. Capital that once moved quickly across markets is now advancing cautiously, shaped by higher borrowing costs, conservative underwriting and a persistent gap between buyer expectations and seller pricing. The Federal Reserve’s decision at the end of January to hold interest rates steady, signaling no urgency to cut, reinforced what many investors have already

That restraint is visible across Texas where deal volume remains uneven and transactions increasingly hinge on pricing realism and income durability. According to CBRE’s 2026 U.S. Real Estate Market Outlook, U.S. commercial real estate investment activity is expected to increase 16% in 2026, nearly matching pre-pandemic averages, but returns are projected to be driven primarily by income rather than appreciation. Asset selection, underwriting discipline and active management are expected to be the defining factors of this cycle.

Within that environment, San Antonio is emerging as a market that aligns closely with where capital is today. Rather than chasing momentum, the metro is benefiting from restraint, affordability and stability, qualities that are increasingly attractive as investors recalibrate risk.

“San Antonio's investment activity has been more muted compared to other major Texas markets, with multifamily transaction volume down 14% yearover-year,” said Robert Wooten, Senior Managing Director and Austin and San Antonio Office Co-Head at JLL. “While national multifamily volume increased 15% during the same period, San Antonio's measured pace reflects seller discipline rather than a lack of investor interest.”

That distinction is critical. In San Antonio, fewer transactions do not reflect a collapse in demand, but rather a market where many owners are unwilling to transact at pricing that no longer aligns with today’s capital costs. As a result, deals that are getting done are often driven by necessity rather than opportunism.

“Over the past 18 months, most sales in our market follow a similar pattern — there's a real need to transact, whether it's a debt maturity or a need for liquidity in a specific fund that owns an asset,” Wooten said. “Looking forward, we expect this transaction volume to rebound in San Antonio in 2026.”

That expectation is supported by the metro’s defensive characteristics, which have taken on greater importance in a higher-for-longer rate environment. According to Wooten, San Antonio’s affordability and employment base provide insulation against volatility that capital increasingly values.

“San Antonio offers compelling defensive characteristics that are increasingly attractive in today's environment,” he said. “The metro ranks as the No. 2 most affordable large market in the U.S. with an 18.5% rent-to-income ratio, significantly below the national average.”

Beyond housing costs, San Antonio’s economy remains anchored by large, stable employers. Joint Base San Antonio employs more than 82,000 people, while private-sector employers such as H-E-B and USAA contribute to a diversified employment base that has historically softened the impact of economic cycles.

“San Antonio's diverse economy ... provides stability during economic uncertainty.”

“Additionally, San Antonio's diverse economy, anchored by Joint Base San Antonio's 82,639 employees and major employers like H-E-B and USAA, provides stability during economic uncertainty,” Wooten said. “The metro's historically countercyclical military presence and cost of doing business that's 11% below the national average further enhance its defensive appeal.”

Those fundamentals are increasingly resonating with investors who may have previously overlooked the market. While San Antonio has often been viewed as secondary to faster-growing Texas metros, its demographic and economic trajectory is reshaping that perception.

“Investors who overlook San Antonio underestimate the metro's fundamental strength and growth trajectory,” Wooten said. “The market has added 23,100 jobs in the past 12 months, ranking 10th nationally for job growth, while maintaining the nation's second most affordable rent structure.”

Population growth continues to reinforce that outlook. San Antonio has added more than 10,000 young adults year over year and ranks among the top U.S. metros for domestic net migration, trends that support long-term demand and income durability.

“They miss the demographic story — San Antonio added over 10,000 new young adults year-over-year and ranks No. 5 nationally for domestic net migration,” Wooten said. “The metro's population is forecasted to reach 3 million by 2032, supported by a thriving cybersecurity ecosystem and $4.4 billion in manufacturing investments from companies like Tesla and Toyota.”

At the state level, capital markets behavior reflects a broader recalibration rather than retreat. A recent Walker & Dunlop report notes that while investors remain active, capital deployment has become more selective, with greater emphasis on downside protection, conservative leverage and longterm cash flow stability. Equity and debt providers continue to engage, but underwriting assumptions have tightened as investors prioritize basis and income over growth narratives.

CBRE’s outlook echoes that assessment, projecting that debt markets will remain functional in 2026, with tight lending spreads and ample liquidity, even as underwriting standards remain prudent. The firm expects many maturing loans to be extended rather than forced into resolution, contributing to a slower but steadier recovery in transaction activity.

Against that backdrop, San Antonio appears well positioned for what comes next. With construction starts at historically low levels and population growth continuing, Wooten sees the market approaching a turning point that could support renewed transaction activity.

“San Antonio is positioned for a significant inflection point,” Wooten said. “With construction starts at historic lows and demand continuing to outpace supply, we're approaching what we call the supply cliff that will drive meaningful rent growth over the next several years.”

In a capital markets cycle defined by restraint, realism and risk management, San Antonio’s combination of affordability, demographic momentum and economic stability aligns closely with investor priorities. While transaction volume may remain measured in the near term, the market’s fundamentals suggest that capital positioning today could yield both income stability and long-term upside as conditions normalize.

No Longer One Market: Why Texas industrial demands a closer look

BY BRANDI SMITH

For much of the past decade, Texas industrial has been discussed as a single, statewide phenomenon, buoyed by population growth, corporate relocations and an almost limitless appetite for space. But as the market moves further from the breakneck pace of the pandemic years, the differences between its major metros are no longer subtle. Dallas, Austin, Houston and San Antonio are responding to the same economic pressures in distinct ways and that is reshaping how risk, opportunity and growth are defined across the state.

In North Texas, the industrial conversation has shifted away from velocity and toward discipline. Development pipelines have thinned, financing remains selective and the margin for error has narrowed. Rather than chasing demand, developers are increasingly responding to it, particularly in submarkets where new construction has slowed.

“We’ve had quite a bit of absorption over the last year and vacancy rates are falling across the board,” said Bill Baumgardner, Executive Vice President in Development for VanTrust Real Estate’s Texas office. “Financing conditions are still tight, which has limited how much new product can come out of the ground, and that’s helped the market regain balance.”

That reset has exposed weaknesses in certain product types that once moved quickly. Buildings that were conceived for speed rather than durability are now facing longer lease-up periods, forcing developers to reconsider what tenants actually prioritize.

“Buildings around 250,000 square feet have struggled to find tenants,” Baumgardner said. “Today, the site really has to work. Ceiling heights, truck courts, parking — everything has to be right. The buildings where corners were cut are the ones dragging in the market now.”

At the same time, Dallas has seen renewed traction at the largest end of the market. After a period when million-square-footplus buildings lingered on the availability list, absorption has thinned that segment considerably, altering development conversations once again.

“The majority of those large buildings have now been absorbed,” Baumgardner said. “What’s left tends to have configuration issues, which is why developers are starting to look at big-box product again. By the end of this year, there will be very few of those buildings available.”

If Dallas reflects a market recalibrating around fundamentals, Austin illustrates how volatility can be both a challenge and a defining feature.

“The vacancy rate in Austin is the highest in the Top 50 metros, and it is probably the biggest challenge we have when discussing the Austin industrial market with investors, developers or lenders,” said Sam Owen, Managing Director and Partner at Stream Realty Partners. “This is a new reality and is tied to historic growth in our market.”

Much of that vacancy is tied to recently delivered, first-generation space rather than a collapse in tenant demand.

“Because we are a smaller market, dynamics can shift quickly,” Owen said. “If you are an owner with a particular property type that is in demand, you can realize an above-average return, but you have to be in the market.”

Austin’s demand profile also sets it apart from its larger Texas counterparts. While logistics remains part of the picture, the market is increasingly shaped by advanced manufacturing and technology-oriented users, driven by major corporate investments and a highly skilled labor force.

“Generally speaking, demand right now is probably 60% manufacturing versus 40% traditional logistics,” Owen said.

That distinction has influenced both leasing activity and development decisions, particularly as land constraints limit where new industrial product can be delivered. Unlike Dallas or Houston, Austin’s industrial identity is less about scale and more about specialization.

“Austin has its own unique story and it is one that is tied to innovation and tech,” Owen said. “High-tech manufacturers are setting up in Austin, which draws more people to the area via employment.”

Houston, by contrast, continues to operate on a different plane altogether. According to Cushman & Wakefield’s fourth-quarter 2025 industrial report, the metro recorded 13.2 million square feet of net absorption in 2025, with vacancy holding at 6% despite elevated construction activity. More than 20 million square feet was under construction at year-end, giving Houston the second-largest industrial pipeline in the country behind Dallas-Fort Worth.

Rather than signaling oversupply, Cushman & Wakefield data shows absorption closely tracking deliveries, supported by port activity, manufacturing demand and large-format users. Sublease availability declined throughout 2025, falling to just 0.7 percent of total inventory, while average asking rents ended the year at $7.78 per square foot, up nearly 5 percent year over year.

San Antonio presents yet another variation on the Texas industrial theme. Cushman & Wakefield reported that the market closed 2025 with an 11.7% vacancy rate, down slightly from the prior quarter, even as new supply continued to outpace demand. Net absorption totaled nearly 590,000 square feet for the year, driven primarily by warehouse and distribution users.

Leasing activity remained steady with more than 4 million square feet signed in 2025, and nearly half of the space under construction already preleased. Asking rents averaged $8.60 per square foot, down modestly year over year, reinforcing San Antonio’s appeal as a more affordable alternative within the state.

Taken together, the data and market-level insight reveal a Texas industrial landscape that is no longer moving in unison. Dallas is refining its approach; Austin is absorbing rapid, manufacturing-led growth; Houston is leveraging scale and diversification; and San Antonio is advancing through steady, costconscious demand.

Houston Women in Real EstateSCOOP/PEOPLE ON THE MOVE

Nathan Golik, hired at Ryan Companies US, Inc.

Ryan Companies US, Inc. has named Nathan Golik as South Central Region President. With more than 25 years of experience, Nathan will oversee development and construction efforts across Texas. He joins Ryan from NexCore Group where he served as executive vice president. Nathan has led over $2 billion in healthcare, office and data center developments nationwide and is regarded for delivering complex, high impact projects. He is an active member of The Salesmanship Club of Dallas.

Dallas-based Premier names chief executive officer

Premier, a Dallasbased firm providing architecture, interior design, procurement, project management, and corporate engineering services to the real estate industry, promoted Johannes Michalsky to Chief Executive Officer, effective Jan. 1.

Michalsky brings more than 12 years of leadership experience at Premier to the position, and has played a central role in the firm’s growth and geographic expansion. Most recently serving as Chief Operating Officer since 2024, he led a strategic repositioning of the organization focusing on third-party business objectives. During his tenure as COO, Premier improved operational efficiency and elevated client service through the continued evolution of its integrated service approach.

As Chief Executive Officer, Michalsky will build upon Premier’s established expertise across key real estate development sectors, including hospitality, multifamily residential, student housing, and mixeduse developments. He will also lead the firm’s longterm strategy, focusing on sustained growth across all markets, and the continued advancement of Premier’s fully integrated platform. In 2025, Premier’s active development pipeline of projects under construction or in planning surpassed $1 billion in estimated value – a portfolio Michalsky intends to expand further.

Michalsky’s appointment follows the promotion of Premier’s former CEO Hector Sanchez to the role of President of Ashford Inc. late last year. Premier is a privately owned subsidiary of Ashford Inc.

Ryan Fassett hired at Oxford Partners

Oxford Partners announced the addition of Ryan Fassett as Senior Vice President. Fassett brings 15 years of commercial real estate experience with a primary focus on office and industrial tenant representation. His background includes advisory roles at UGL Equis and Moody Rambin, where he built a long-standing tenant practice, as well as prior experience at Lee & Associates. He joins Oxford Partners with a reputation for analytical rigor, disciplined execution, and client-focused service.

Lisa Ann Murphy hired at Wilson Cribbs + Goren

Wilson Cribbs + Goren has welcomed Lisa Ann Murphy as Senior Counsel. Murphy brings nearly 20 years of experience in commercial real estate, with a focus on retail leasing and shoppingcenter development. She advises landlords, developers, and national tenants on complex transactions nationwide and supports the firm’s transactions team across multiple asset classes.

Murphy earned her J.D. from The John Marshall Law School and a master’s from Middlebury College.

Stream Realty Partners adds SVP in San Antonio

Stream Realty Partners hired Karen Bryant as Senior Vice President of Healthcare based in Stream’s San Antonio, Texas, office.

In her new role, Bryant will focus on healthcare tenant representation and identifying acquisition, development, and growth opportunities across Texas while also supporting clients and initiatives nationwide.

Bryant brings over 22 years of executive leadership experience in healthcare, including the last decade

dedicated to healthcare strategy and business development. Her extensive background positions her to guide healthcare systems and providers as they navigate complex real estate solutions that directly impact patient care, operational efficiency, and long-term growth.

Prior to joining Stream, Bryant served as Group Vice President of Strategy and Business Development for CHRISTUS Health, where she partnered with health system leadership to develop and execute growth strategies across South Texas. Her experience includes leading key acquisitions of medical group practices and hospitals, as well as the development of specialty and primary care clinics, freestanding emergency centers, and other healthcare facilities.

Earlier in her career, Bryant spent 12 years as a hospital administrator with HCA/St. David’s, University Health System, and CHRISTUS Health, overseeing hospital operations.

VanTrust Real Estate adds manager in Dallas office

VanTrust Real Estate, LLC promoted Jen Conyers to real estate manager in its Dallas office. She will support a wide range of projects across VanTrust’s Texas portfolio, including commercial and office developments.

In her new role, Conyers will focus on building and maintaining strong relationships with brokers, engaging with municipalities, and managing architects, engineers, consultants and contractors. She is actively involved in all phases of the commercial real estate development process, from identifying and evaluating opportunities, to managing and delivering both build-to-suit and speculative projects.

Conyers leads project coordination, proposal preparation, and the administrative and financial components of development from inception through completion, and to date has managed over two million square feet of Class A office space across the Dallas market.

Conyers is a member of the National Association of Industrial and Office Parks (NAIOP), CREW Dallas, a nonprofit organization for women in commercial real estate, and Ladies-in-CRE, a networking group with a mission to empower women in the Dallas-Fort Worth commercial real estate industry. She is also affiliated with the Texas Notary.

She earned her Bachelor of Science in Business Management from Western Governors University.

Dallas-based KDC expanded its national data center development platform with the addition of Robert Child as Executive Vice President of Data Center Development.

Child’s role at KDC is to lead and scale the firm’s data center platform nationwide, overseeing strategy, site development, capital alignment, and delivery of complex, mission-critical facilities.

Child has over 15 years of experience with delivering build-to-suit projects and data center solutions to enterprise and hyperscale clients worldwide. Prior to joining KDC, he held leadership roles at CyrusOne, where he led several global enterprise accounts through capacity planning and digital transformation programs.

Earlier in his career, Child managed business development for Structure Tone’s Mission Critical group in New York. In that role, he helped deliver ground-up data center and technology facilities for hyperscale and enterprise clients globally.

Dallas office of Ware Malcomb adds director of architecture

Mike Snyder has joined the Dallas office of Ware Malcomb as Director, Architecture.

In this role, Snyder will be responsible for leadership, growth, and management of the architecture studios, prioritizing client satisfaction, project performance, and mentoring the office’s architecture team.

Snyder’s 30-year professional background includes nine years of experience working with Ware Malcomb in its Irvine office. Most recently, he served as an industrial architecture practice leader for a full-service architecture firm in Seattle before rejoining the Ware Malcomb team.

Snyder is a licensed architect in Washington State and has successfully managed projects and teams throughout the West Coast and Southwest. His primary specialty areas include office and industrial buildings and tenant improvements.

Gensler adds healthcare planning director in Houston office

Annabella Koloskov has joined Gensler as Healthcare Planning Director in Houston.

With nearly four decades of experience, she brings visionary healthcare planning expertise and a unique blend of strategic insight, clinical understanding, and design excellence.

Koloskov joins Gensler from Page, where she served as Lead Senior Healthcare Planner and guided complex initiatives for institutions including Memorial Hermann, Houston Methodist, MD Anderson, and Baylor College of Medicine.

power of Partners’ integrated full-service platform.

Houston Construction Summit

Her experience spans the full continuum of healthcare delivery, from master planning and programming to schematic design and construction documentation. She holds a BS in Biology and Chemistry from Houston Baptist University and a Master of Architecture from the University of Houston.

Industry veteran JJ Leonard joins Partners Real Estate as Equity Partner and Managing Director, Dallas—fueling firm’s continued evolution

Partners Real Estate (“Partners”), a private partnership-led fullyintegrated commercial real estate firm, today announced the hiring of JJ Leonard as an Equity Partner and Managing Director of its Dallas office. Mr. Leonard, a highly respected industry veteran, transitions from Stream Realty to lead the day-to-day operations and drive the continued growth of Partners in the DallasFort Worth market.

This announcement comes on the heels of Peter Mainguy joining Partners (former CBRE Houston head) as Partner and Executive Managing Director of Services for its Texas Region. The addition of both Mr. Leonard and Mr. Mainguy speaks to the attractiveness of Partners’ unique partnership structure, which puts the client at the center of everything the firm does—dramatically increasing collaboration and significantly reducing silos, which are so prevalent in the traditional commercial real estate services model. Mr. Leonard’s extensive experience and proven track record in Dallas will be instrumental as Partners continues its strategic growth trajectory.

“JJ is a true leader and highly accomplished professional with deep commercial real estate leadership experience and market expertise, which he will continue to provide to his office leasing clients. He has an exceptional track record in Dallas, and has continually demonstrated client service excellence,” said Jon Silberman, Partners’ Chief Executive Officer. “JJ’s appointment to Managing Director of our Dallas office is a testament to our strategic investment in top-tier talent to drive our expansion and enhance our service offerings for our clients in one of the nation’s most dynamic real estate markets. We are very excited to welcome him to the firm.”

With a history and experience of leasing a portfolio punctuated by several of the most prized office properties in DFW, Mr. Leonard will also continue to provide exceptional service as an Office Agency Leasing broker, further growing his business leveraging the

Functioning as a player-coach, similar to a role he held with Stream for many years—and the same dual role that fellow producers and Equity Partners Ryan McCullough and John Colglazier, the company’s Austin and San Antonio leaders, have thrived in since their promotions last summer—will ensure seamless continuity and sustained high performance for Partners’ clients.

“Joining Partners, a powerhouse among the nation’s fastest-growing independent commercial real estate firms, is an exciting opportunity to shape something extraordinary,” said Mr. Leonard. “I’m inspired by Partners’ bold vision and rapid rise. As Dallas office leader I’m ready to continue to provide exceptional service to my clients, while driving our momentum, elevating our national presence, and signaling to the industry that Partners is building on its strengths to redefine what’s possible in commercial real estate.”

Matt Stoops, PLA promoted to Senior Director of Houston Planning & Landscape Architecture at LJA Engineering

LJA Engineering has promoted Matt Stoops, PLA, to Senior Director of Houston Planning and Landscape Architecture. He will integrate the firm’s Planning and Landscape Architecture teams to provide a unified, creative approach for our land development and public clients. Stoops joined LJA more than seven years ago and has grown the Planning team from four members to twenty-four members, expanding its work to include major public projects such as the Western League City Master Plan and the Port Lavaca Downtown Waterfront Master Plan. With over 30 years of experience, he has led planning efforts for Houston-area developments including Harvest Green, Jubilee, Pomona, George Ranch, and Twinwood.

Shaun Kirk, PE, professionally recognized at Dunaway

Dunaway has appointed Shaun Kirk, PE, to Principal. Shaun serves as a Senior Director in Dunaway’s Structural Engineering practice, bringing nearly three decades of experience and a proven track record of exceeding client expectations. His work spans diverse market sectors, including corporate commercial campuses and highly complex urban infill and mixeduse developments, where his technical leadership and strategic insight drive project success.

Houston Industrial Summit

events

Acho Azuike, DC Partners

Webber Beall, Lincoln Property Company

Martin Bronstein, BHW Capital

Will Curtis, Browning Commercial

Nikhil Dhanani, Dhanani Private Equity Group

Peyton Easley, Titan Commercial

Allen Gump, Colliers International

Ryan Hartsell, Oxford Partners

Farhan Kabani, CBRE

Rob Killen, Killen, Griffin & Farrimond, PLLC

Raymond Kane, Kane Russell Coleman Logan PC

Stephen Kuper, Lee & Associates

Jim Lake, Jim Lake Companies

Chris Lewis, Lee & Associates

Patti Miller, E.E. Reed Construction

Mehrdad Moayedi, Centurion American Development Group

Heather Nguyen, NewQuest Properties

Ford Noe, Marcus & Millichap

Edward Nwokedi, RedSwan Digital Real Estate

A. David Schwarz III, Transwestern

Brad Reid, Scott + Reid

Ash Shah, Impex Capital Group

Roman Stephens, Emerge Living

Ben Suttles, Disrupt Equity

Liz Trocchio Smith, The Trocchio Advantage

Katie Van Dyk, Norton Rose Fulbright US LLP

Mathew Volz, Pagewood

Shane Waddell, Porter Law Firm

TEXAS ICONS 2025

DC Partners

Houston, Texas

Acho Azuike: Executing complex capital to bring ambitious design to life

When capital markets seized up and uncertainty rippled through every corner of commercial real estate, DC Partners kept building. That moment tested the difference between vision and execution. For Acho Azuike, it was precisely where his role mattered most.

As chief operating officer of DC Partners, Azuike has spent more than a decade operating at the intersection of ambitious design and financial reality. Since joining the firm in 2009, he has helped guide its evolution from an emerging developer into a platform known for high-design, internationally funded mixed-use and hospitality projects across Texas. His responsibilities span development, acquisitions and management, but his defining work often happens behind the scenes, structuring capital stacks and navigating complexity so projects can move forward when conditions are anything but predictable.

The Allen, DC Partners’ flagship mixed-use development in Houston, became a proving ground for that approach. As markets tightened and traditional financing grew more cautious, Azuike led the project’s refinancing, layering CPACE and EB-5 capital into one of the most complex funding structures in the region. The CPACE loan ultimately became the largest of its kind in Harris County at the time, allowing the development to advance despite broader volatility.

“His leadership has consistently resulted in high-quality, design-forward, financially complex developments that redefine destination living across Texas,” wrote the industry peer who nominated Azuike said.

That financial rigor proved equally critical during the COVID-19 pandemic. While retail leasing stalled across much of the country, Azuike helped guide the full lease-up of The Allen Retail Pavilion, securing first-to-Houston concepts such as Toca Madera and Meduza at a time when uncertainty dominated decision-making. The achievement underscored his ability to combine disciplined underwriting with an understanding of how experiential retail and hospitality function within larger mixed-use environments.

Beyond The Allen, Azuike has been instrumental in expanding DC Partners’ geographic and product reach. He spearheaded the firm’s first multifamily and hotel development in San Antonio along with a six-acre mixed-use project in Houston and has played a central role in projects such as the Arabella, Marlowe, 44 Eleven San Felipe, The Arts Residences San Antonio and The Meuse, a Kimpton hotel and retail development in Fredericksburg designed to elevate the Hill Country’s hospitality profile.

Azuike’s commitment to the industry also shows up in the classroom. He serves as an adjunct professor at the University of Houston’s Bauer College of Business, teaching graduate-level real estate development while remaining deeply involved in active projects. The balance reflects a broader throughline in his career: pairing theory with execution and ambition with discipline.

For Azuike, progress is rarely loud. It is measured in capital structures that hold under pressure, projects that move forward when others pause and developments that reach completion without compromising the original vision. In a market that often celebrates the visible, his impact has been defined by what happens when complexity threatens momentum and someone has to make the numbers work.

Executive Vice President

Lincoln Property

Company

Dallas, Texas

Webber Beall: Building corporate real estate services in the early days

In the early 1990s when most real estate firms were still transaction-focused and fragmented, Webber Beall envisioned something more progressive: a fully integrated, single-platform advisory and service model designed to serve corporate clients over decades,. That vision would shape both his career and a significant segment of the commercial real estate industry.

Beall is an executive vice president at Lincoln Property Company where he serves as managing director of the firm’s Healthcare Services group and is a senior leader within Corporate Advisory & Solutions (CAS). His work spans strategy development, transaction management, business development and executive-level advisory services, with a focus on long-term client partnerships.

“Webber Beall played a pivotal role in envisioning and launching Lincoln’s corporate services business in 1992, now called Corporate Advisory & Solutions, at a time when fully integrated real estate outsourcing platforms were still in their early days,” his nomination noted.

At that time, the concept of outsourcing real estate strategy, execution and portfolio management to a single provider was still emerging. Beall sourced the group’s first major client, one of the largest U.S.-based financial institutions, and helped design a scalable service model centered on a simple but enduring principle: strategy first, client first. The approach proved durable, producing high client retention, long-term partnerships and repeated performance recognition.

Beall’s influence has been especially significant in healthcare real estate. Under his leadership, Lincoln’s Healthcare Services group grew into one of the largest platforms in the country, now encompassing more than 50 million square feet and approximately 2,000 transactions annually. One of the group’s earliest healthcare clients, HCA, selected Lincoln in 1997 and remains a client nearly three decades later, a longevity Beall views as a measure of trust rather than scale.

“Without question, the most enjoyable part of the business is the personal relationships that are fostered — with clients, associates, and colleagues,” Beall said. “Those relationships are what make the work meaningful and rewarding. Second to that is the opportunity to solve challenging problems for clients, particularly those that are complex and seemingly daunting.”

Beall has worked in commercial real estate for more than 44 years, a span that includes some of the industry’s most challenging moments. He recalls the savings and loan crisis of the 1980s and early 1990s as a defining test.

“It had a crippling effect on the commercial real estate industry,” Beall said. “Despite those conditions, Lincoln was fortunate to start our corporate services business and maintain consistent profitability over the years.”

Asked about the foundation of his success, Beall is quick to credit others.

“I attribute my success to the many great people with whom I have had the opportunity to work,” Beall said. “A few in particular stand out: Hank Dickerson, who set a high bar for integrity and character; Bobby Halpin, a man of fine character who hired me at Lincoln; and Bill Duvall, one of the best real estate minds in the business, who enabled the launch of the corporate services business from the ground up and supported us through its successes and challenges.”

Outside of work, Beall enjoys time with family and staying active through biking, running, hiking, scuba diving and skiing — pursuits that mirror the balance and perspective he brings to his professional life.

For Beall, the legacy is not a title or a transaction count. It is a real estate services model that continues to endure because it was grounded from the very beginning in strategy, relationships, trust, and superior client service.

Principal

BHW Capital

Houston, Texas

MARTIN BRONSTEIN

Martin

Bronstein: Reinventing

a real estate career across multiple eras

Most careers in commercial real estate have a single defining act. Martin Bronstein has built several.

More than 50 years into the business, Bronstein is still evolving, still building and still choosing reinvention over retreat. As a founder and senior principal of BHW Capital, he now focuses on acquiring, developing and repositioning institutional-quality real estate across asset classes, a role that represents the latest chapter in a career defined by scale, adaptation and persistence.

“Martin has been a CRE industry titan in Houston since the early 1970s,” the person who nominated Bronstein said. “Martin has worked in a variety of different capacities notable not only for his financial successes, but also for his exceptionally diverse scope and attributes of the different operating companies, investment partnerships, completed transactions and fiduciary obligations which were carried out.”

Bronstein entered commercial real estate in 1972, beginning as a broker hustling opportunities and learning the business from the ground up. In 1985, he founded Situs, a Houston-based firm that grew from a local brokerage into one of the world’s leading commercial real estate consultancies. Under his leadership, Situs expanded to more than 400 employees across nine offices in the U.S. and Europe, providing due diligence, asset management and loan servicing to investment banks, insurance companies, pension funds, the FDIC and the RTC. In 2011, Bronstein sold Situs to Helios AMC, sponsored by Ranieri Partners, in a transaction that marked the end of one era and the beginning of another.

Rather than retire, Bronstein partnered with longtime collaborator Ralph Howard to launch BHW Capital in 2012. The firm specializes in acquiring, developing and managing real estate across cycles, with a growing focus on multifamily development. Since 2015, BHW has developed over 1,000 units across four award-winning communities in Houston and San Antonio and maintains a robust development pipeline.

Bronstein credits “constantly learning and reinventing myself,” as well as “always trying to hire and partner with the right people” for his success.

His willingness to adapt has not always been easy. Bronstein is candid about relying on others to help him navigate technological change, viewing collaboration as a strength rather than a weakness.

Beyond transactions, Bronstein has remained deeply engaged in service and mentorship. He serves on the University of Texas at Austin McCombs School of Business Real Estate Finance and Investment Center Executive Council and has held leadership roles with the Houston Jewish Federation’s Commercial Real Estate Society. He is also a founding board member of Second Servings of Houston, the city’s only prepared food rescue nonprofit.

When he is not working, Bronstein spends time offshore fishing, working out and with family — pursuits that mirror the balance he has learned to value over time.

After more than five decades in commercial real estate, Bronstein’s career resists a neat conclusion. Instead, it reflects a pattern: build, evolve, adapt and do it again. In an industry shaped by cycles, his legacy has been defined by the willingness to keep starting new chapters.

Managing Director

Browning Commercial

San Antonio, Texas

WILL CURTIS

Will Curtis: Raising industry standards through education and service

Before many professionals ever close their first deal, Will Curtis, CCIM, CPM is already teaching them how to think about the next ten years. For Curtis, commercial real estate has always been about more than transactions. It is about helping people understand what they are building, why it matters and how to steward assets, careers and institutions over time.

Curtis is managing director of Browning Commercial and principal of Crossed Sabers Asset Management, where he advises owners, occupiers and investors across Texas on leasing strategy, investment sales, property management and operational consulting. Over 16 years in the business, he has completed more than $1.2 billion in commercial real estate transactions across office, industrial and retail, bringing an operator’s mindset to every assignment.

“Will Curtis has emerged as one of the most influential commercial real estate leaders in South Texas, recognized for his transaction expertise, commitment to education, and steady governance leadership during one of the most pivotal periods in the real estate industry,” the nomination noted.

Curtis’ path into real estate began immediately after his service in the U.S. Army, when he entered the civilian workforce while beginning his undergraduate studies. What kept him in engaged the past 16 years isn’t the close, but the outcome.

“One of the things I love about teaching and working with clients is watching their plans and dreams come to reality,” Curtis said. “If that is a family bringing their business off their coffee table into the first commercial space, that investor hit the income goals they have for retirement or even the agent trying to find success in commercial real estate.”

That perspective carries into his role as an educator. Curtis serves as a faculty member for both the CCIM Institute and the Institute of Real Estate Management and is an adjunct professor at Trinity University. He is widely known for making complex real estate, economic and operational concepts understandable and immediately usable, whether he is teaching investment analysis, market evaluation or property operations.

“When I was a young soldier, I was told the only way you are truly a great leader is because of thecoaching and guidance you proivde, if you are a great leader your soldiers will far exceed what you could accomplish,” Curtis said. “I feel I have been blessed to see that both in my military and post military careers and finding those around me hit their own successes.”

Curtis has also played a significant leadership role in organized real estate. He has served as chairman of the board for the San Antonio Board of REALTORS, president of the CCIM San Antonio/South Texas Chapter and regional vice president for both Texas REALTORS and The CCIM Institute. During his tenure as board chair, he helped guide the association through industry-changing litigation, including starting the strategic separation of LERA MLS into an independent entity to reduce legal exposure and strengthen governance.

The challenges he faced transitioning from the military to a civilian, sales-driven world shaped his service-oriented leadership style.

“From the day I joined the Army, I knew what I had to do to promote and win,” Curtis said. “Whereas the civilian world and in sales it is completely up to you and your drive and work ethic. Some people will help, others will work against you and there are 100 different roads to success, whereas the military there was really just one. “

That experience led him to create the “Vets in Real Estate” podcast, a platform designed to help transitioning service members find clarity and community as they enter the industry.

“We have helped careers grow, build relationships with veterans from across the country and show that we can be just as successful out of uniform as we were in the uniform,” Curtis said.

Curtis holds a bachelor’s degree in real estate finance and development from The University of Texas at San Antonio and an MBA from St. Mary’s University. He lives in San Antonio with his wife, Desiree, and their three children.

Across advising, education and governance, Curtis’ impact is measured not just in deals closed, but in standards raised. By choosing to teach as he operates, he has helped shape an industry better prepared for the future.

President of Dhanani Private Equity Group

Dhanani Private Equity Group

Stafford, Texas

Nikhil Dhanani: Building an institutional-grade real estate platform from a family enterprise

At Dhanani Private Equity Group (DPEG), progress is not measured in transactions, but in transformation. Assets are continuously acquired, repositioned, and refined with a singular objective: long-term value creation. Under the leadership of President Nikhil Dhanani, that evolution has been intentional, disciplined, and relentlessly strategic, reshaping a family-owned operation into a vertically integrated, institutional-grade real estate platform.

As President, Dhanani leads day-to-day operations while helping shape the firm’s long-term investment strategy across a rapidly expanding commercial real estate portfolio. Over the past decade, he has played a central role in scaling the platform from approximately $20 million to more than $2.5 billion in assets under management, transforming DPEG into a diversified private equity firm with significant holdings across retail, multifamily, and mixeduse developments.

“Nikhil is the driving force behind DPEG’s Houston commercial real estate strategy and execution,” said his nominator. “He combines authority, vision, and accountability, overseeing acquisitions, asset performance, tenant strategy, and redevelopment initiatives across a growing portfolio of high-impact retail and mixed-use assets.”

Dhanani’s leadership philosophy is rooted in experience. He began his career within the family’s retail operations, developing firsthand knowledge of asset operations, tenant dynamics, and customer behavior before transitioning into development and private equity. That foundation continues to inform his highly hands-on approach. He remains closely engaged across every phase of the investment lifecycle, from underwriting and acquisitions to leasing, operations, redevelopment, and investor relations, ensuring disciplined execution at every level.

Today, DPEG operates more than 45 retail centers in the Houston metropolitan area alone, each managed with a focus on operational excellence, tenant performance, and long-term durability. Tenant strategy has become a hallmark of Dhanani’s leadership. Under his direction, the firm has attracted leading national and lifestyle brands including Trader Joe’s, STK, Arhaus, Restoration Hardware, Fiesta, Hibbett, and J.Jill, transforming shopping centers into high-performing destination environments while elevating surrounding commercial corridors.

Dhanani has led the acquisition and revitalization of numerous underperforming assets throughout Houston, executing strategic capital improvements and operational enhancements designed to elevate tenant experience, increase leasing velocity, and strengthen long-term asset performance. His approach blends institutional-grade systems with entrepreneurial adaptability, allowing DPEG to scale with rigor while remaining agile in dynamic market conditions.

Known for his direct, disciplined leadership style, Dhanani emphasizes proactive asset management, conservative underwriting, and operational precision. He believes sustainable scale is built not through rapid expansion, but through tight fundamentals, strong controls, and unwavering accountability.

His impact has earned broad industry recognition, including features in Houston Business Journal and Fort Bend Focus Magazine, multiple RedNews awards, and community honors from the City of Stafford. He also serves on the board of the International Council of Shopping Centers (ICSC), strengthening the firm’s engagement within the national retail real estate community.

For Dhanani, growth is not an end in itself. It is a responsibility. A responsibility to investors, tenants, communities, and the legacy of a family enterprise. Through disciplined leadership and institutional vision, he has ensured that as DPEG scales, its focus only sharpens. In an industry where expansion often dilutes performance, his stewardship has achieved the opposite: clarity, control, and enduring value.

PEYTON EASLEY

Peyton Easley: Using culture as a recruiting and retention advantage

At Titan Commercial, culture is not a perk. It is the product. Walk into the office and the tone is immediately clear: collaborative, direct and grounded in mutual respect. For Peyton Easley, that environment is not accidental. It is the result of building a firm around values first, then using culture as a competitive advantage in recruiting, retention and performance.

Easley is the founder and CEO of Titan Commercial, a Houston-based brokerage he launched in 2022 after nearly a decade in the industry. Since then, Titan has grown quickly, establishing a recognizable brand while gaining market share across industrial, land and development transactions throughout Texas. Over the course of his career, he has been associated with over $250 million in gross consideration.

“Peyton Easley is the kind of leader who truly sets the tone for a new generation of commercial real estate,” the peer who nominated Easley said. “From someone who works on the back end of the CRE world in marketing, his leadership has made Titan Commercial an exciting and inspiring place to come into work every day.”

Before founding Titan, Easley began his career at ICO Commercial, where he earned multiple top sales awards and worked on several of the firm’s largest transactions. During that time, he represented Alphalete Athletics in the acquisition of a corporate campus totaling 87,720 square feet across five buildings on 18.31 acres in Stafford. The experience sharpened his technical skills and exposed him to traditional brokerage structures that ultimately shaped his decision to build something different.

Titan was born from Easley’s belief that commercial real estate brokerage could be reimagined without sacrificing performance. He saw an opportunity to remove ambiguity around expectations, compensation and culture, creating a place where brokers could work hard, close deals and enjoy the process.

“The culture Peyton has built fosters genuine collaboration, respect and confidence across all roles, not just brokers,” the nominator said. “There is a strong sense of trust and rapport throughout the workplace, creating an environment where everyone feels valued and empowered to grow.”

That people-first approach extends beyond recruiting. Easley is deeply invested in mentoring young professionals and creating clear pathways for growth inside the firm. Titan’s culture emphasizes learning, openness and shared success, reinforcing Easley’s belief that long-term performance depends on retaining good people, not just attracting them.

Easley holds two of the industry’s most recognized designations, earning his CCIM in 2021 and SIOR designation in 2023. He is frequently invited to speak on Houston’s industrial market, offering insight shaped by active dealmaking and on-the-ground experience. A graduate of Baylor University’s Hankamer School of Business with a degree in entrepreneurship, he remains active in the broader commercial real estate community.

Outside of work, Easley and his wife, Grace, live in Houston with their two children. Time spent with family, along with basketball, golf and supporting Baylor University and Houston sports teams, provides balance to the intensity of brokerage.

For Easley, Titan Commercial represents more than a successful startup. It is proof that culture, integrity and performance can coexist and that in a competitive industry, people-first leadership can be the most effective strategy of all.

Executive Vice President

Colliers International Dallas, Texas

ALLEN GUMP

Allen Gump: Earning trust and longevity in one of the nation’s most competitive markets

In a market as fiercely competitive as Dallas-Fort Worth, longevity is never accidental. For Allen Gump, it has been built deal by deal, relationship by relationship, over more than four decades in commercial real estate. As executive vice president at Colliers, Gump has spent his career earning trust in one of the most demanding brokerage environments in the country, where reputation travels fast and performance is never assumed.

“This member was the former SIOR global president and has made more contributions to our great commercial real estate industry and our local community than I can count,” Gump’s nomination emphasized. “He is probably one of the most trusted members of our community here in North Texas.”

Gump’s path into the business began close to home. A Dallas-Fort Worth native and a 1979 graduate of the University of Texas, he credits his work ethic to growing up alongside his father, Harry Gump, who ran an insurance agency and set an early example of integrity and discipline. After college, Gump worked in property and casualty insurance before his brother, Bill, introduced him to commercial real estate in 1984. That introduction launched a career defined by steady growth rather than quick leaps.

After eight years at The Baldwin Co. and a period working independently, Gump was recruited in 1998 by Jerry Fults to lead the industrial division at Fults Co. The role marked a turning point, giving him his first opportunity to build and lead a team within a larger organization. When the firm was later sold to Kennedy-Wilson, Gump made another pivotal move, joining Colliers in 2002 as managing director of the Dallas office. With Colliers having acquired the Baldwin Company, the transition felt less like a change and more like a return.

More than two decades later, Gump remains with Colliers, having watched both the firm and the DFW market evolve dramatically. Through it all, he has stayed grounded in fundamentals: deep market knowledge, relentless service and a commitment to professionalism. In a region known for its intensity, he has never shied away from competition.

“Without a doubt, the best brokers in the country reside in DFW,” Gump said. “To overcome, you have to be at the top of your game, know your market and deliver great service to your clients.”

That mindset has shaped not only his own success, but the careers of others. Gump has long believed in the value of mentorship and professional involvement, earning both the SIOR and CCIM designations and serving in leadership roles within NTCAR and SIOR, including a term as global president. His industry peers have recognized those contributions with honors such as the Stemmons Award and the National Association of Realtors’ National Commercial Award for Outstanding Achievement.

Perhaps the most meaningful chapter of his career, however, has come closer to home. Over the past 13 years, Gump has worked alongside his daughter, Allyson Yost, and Madeleine Supplee at Colliers. Watching her earn her SIOR designation and step into leadership as incoming president of NTCAR has been a source of immense pride.

Beyond the office, Gump and his wife, Kim, remain deeply involved in their Catholic church and charitable work, grounding influences that have kept perspective front and center. These days, time with their five grandchildren is the ultimate reward, a reminder that while deals come and go, relationships endure.

After 42 years in commercial real estate, Gump measures success less by transactions than by the people who remain part of his life long after the deals are done. In a business defined by constant motion, that constancy has become his hallmark.

Managing Partner

Oxford Partners

Houston, Texas

Ryan Hartsell: Choosing

structure over ego to build a durable brokerage

At some point in a brokerage career, success presents a choice. For Ryan Hartsell, that moment came when he realized he could either stay on the transaction treadmill or step back and build something designed to last. He chose structure over ego and that decision reshaped Oxford Partners.

Hartsell is managing partner and co-founder of Oxford Partners, a Houston-based commercial real estate firm that exclusively represents tenants and buyers. Over more than 17 years in the industry, he has helped grow Oxford from a two-person startup into one of Texas’ most trusted independent brokerages, completing more than 250 transactions annually and sustaining triple-digit revenue growth without private equity or institutional backing.

“One of the biggest challenges I’ve overcome was making the intentional decision to step off the transaction treadmill and build a real business,” Hartsell said. “I could have focused solely on maximizing short-term income as an individual producer, but instead we decided to turn a practice into a business.”

That shift required rethinking how brokerage firms operate. Rather than relying on informal norms, Hartsell led the development of systems most firms leave undefined: structured onboarding, standardized training, disciplined client procurement and clear accountability frameworks. The result was a firm built to scale without sacrificing service quality.

“Another major challenge was building operational rigor in a relationship-driven industry,” Hartsell said. “We systematized what most firms leave informal: how to train and onboard new hires, how to identify and pursue clients, how to recruit talent and structure transactional support, how the brokerage firm can build additional pipeline for its agents, and how to deliver services to our clients.”

The person who nominated Hartsell points to that discipline as the differentiator.

“Ryan has grown Oxford Partners from a two-person startup into one of the largest independent tenant-representation firms in Texas,” the nominator said. “His model centers on conflict-free representation, rigorous agent mentorship, and strategic systems that elevate service quality across the board.”

Hartsell’s leadership philosophy evolved alongside his business. Through involvement with Entrepreneur Organization and Strategic Coach, he began viewing his role less as a top producer and more as a service provider to his team.

“I’ve come to genuinely view my role as that of a service provider to our agents and staff,” Hartsell said. “Our leadership team is very focused on creating an environment where talented, experienced brokers have the resources, support, and autonomy they need to thrive and provide excellent services to their clients.”

That mindset proved especially valuable in 2015, when Oxford expanded into industrial real estate and later during the COVID 19 pandemic when they invested early in technology and virtual practices to maintain momentum. Those choices helped the firm continue growing amid uncertainty, earning repeated recognition on the Inc. 5000 list and honors as a top workplace.

“Success in this field comes from relentless procurement, a sincere focus on clients, continuous learning, and adaptability,” he said. “Just as important has been recognizing that no business scales or sustains excellence on individual effort alone. Surrounding myself with highly capable, accountable people has been one of the most meaningful drivers of our success at Oxford Partners.”

Outside the office, Hartsell prioritizes time with his wife and three young children, embracing what he calls the chaos of this season of life. The balance reinforces the same principle that guides his professional decisions.

For Hartsell, building a brokerage was never about personal production alone. It was about creating a structure that endures, one where clarity outlasts cycles and ego never outruns the foundation.

Executive Vice President, Debt & Structured Finance

Dallas, Texas

FARHAN KABANI

Farhan Kabani: Delivering capital execution in volatile markets

When markets turn volatile, certainty becomes a scarce commodity. For Farhan Kabani, those moments are where his work matters most. Over more than two decades in commercial real estate capital markets, Kabani has built a reputation for calm execution, disciplined preparation and an ability to bring clarity to transactions unfolding in uncertain conditions.

Kabani is an Executive Vice President in Debt & Structured Finance at CBRE, where he advises private and institutional clients on debt and equity solutions across all major asset classes. His work spans acquisitions, refinances and development financing nationwide, with a focus on middle-market transactions that demand precision, creativity, and trust.

“Farhan has closed thousands of transactions and arranged billions of dollars of capital for clients in the retail, industrial, medical office, multifamily, net lease (or single tenant net lease), and specialty sectors of the CRE industry,” his nomination noted.

That steadiness has been earned. Kabani entered the industry more than 20 years ago and quickly learned that market noise rarely rewards reaction. Instead, he developed a solutions-driven approach rooted in preparation, communication, and a deep understanding of how capital behaves under pressure. Dramatic market shifts, he says, have reinforced the importance of discipline over speed.

“I have worked through different market cycles, which has taught me how to approach risk, develop strategy, and help clients make the most viable long-term decisions,” Kabani said.

Before joining CBRE, Kabani held executive leadership roles at multiple firms and founded and exited a capital markets platform of his own. Those experiences shaped his perspective as both an advisor and an operator, sharpening his ability to anticipate challenges and structure capital accordingly. At CBRE, he has played a key role in expanding the firm’s private and middle-market lending platform, supported by long-standing relationships with national and global capital sources.

Kabani’s work often centers on complex transactions that require alignment among multiple stakeholders. He views each deal as a problem to be solved methodically, starting with clear objectives and ending with execution that leaves no surprises.

“I enjoy solving problems,” Kabani said. “Each transaction has unique opportunities and challenges. I find the best results are discovered by asking questions, understanding key objectives, brainstorming solutions, and identifying achievable paths towards success. The execution of the strategy gives me joy, but building lasting relationships along the way is by far the most enjoyable and fruitful outcome.”

Building and mentoring a high-performing team has been a consistent focus throughout his career, and he considers helping others develop their own successful paths among his most meaningful professional accomplishments.

Service also plays a central role in Kabani’s life. He and his wife, Lizna, co-founded The Kabani Foundation, which supports initiatives focused on education and mental health. The foundation reflects the same values that guide his professional work: long-term thinking, intentional investment, and a commitment to meaningful impact.

Away from the office, Kabani prioritizes time with family and reflection, practices he sees as essential to maintaining perspective. In a field often defined by urgency and volatility, his approach remains grounded in fundamentals.

For Kabani, success is not measured by how loudly deals close, but by how steadily they hold together. In uncertain markets, that consistency has become his calling card.

Attorney

Killen, Griffin & Farrimond, PLLC

San Antonio, Texas

ROB KILLEN

Rob Killen: Guiding complex development toward civic alignment

In land use and economic development, most conversations start with friction. Property owners want flexibility. Cities want safeguards. Residents want assurance that change will make life better, not harder. Rob Killen has spent more than two decades working in that tension, guiding complex projects through competing priorities and toward outcomes that serve both private investment and public good.

Killen is a founding partner of Killen, Griffin & Farrimond PLLC, a San Antonio–based law firm focused on land use, zoning, economic development and infrastructure. Over more than 24 years advising clients in the commercial real estate industry, he has represented property owners, developers and businesses navigating some of the region’s most complex entitlement, annexation and development agreement matters. His work sits squarely at the intersection of public policy and private capital, where clarity, credibility and relationships matter as much as legal expertise.

“Rob Killen has profoundly shaped the trajectory of commercial real estate in San Antonio through his leadership in land use, economic development, and infrastructure innovation,” said Stephanie Reyes, CEO of the Real Estate Council of Texas.

Killen’s practice is rooted in problem-solving rather than posturing. He works closely with municipalities, elected officials and community stakeholders to structure projects that can withstand public scrutiny and political change while remaining economically viable. That role requires patience and an ability to translate across constituencies that do not always trust one another.

“The biggest challenge in securing land use entitlements and the approval of economic development agreements is convincing a wide variety of stakeholders that the project will ultimately benefit the community,” Killen said. “It is much easier to say no than to say yes, so the challenge is getting to yes.”

What allows him to do that work effectively, Killen says, is a combination built over time.

“Expertise, experience and relationships,” Killen said. “One of the most important things we can do is to stay engaged in the community and continue to build connections with others, both those more experienced and those who are still learning.”

That long-term approach has positioned Killen as a trusted advisor not just to clients, but to civic institutions. He has played a role in projects such as Cibolo Canyons, Briggs Ranch, Landmark and other large-scale developments that required careful coordination between public infrastructure planning and private investment.

Beyond his legal practice, Killen has built a deep record of civic leadership in San Antonio. He has served as chairman of the Metro SA Chamber, chair of the North San Antonio Chamber of Commerce and president of the UTSA Alumni Association, and currently holds leadership roles with the San Antonio Mobility Coalition and the San Antonio Medical Foundation Board of Trustees. His broader service includes involvement with the San Antonio Economic Development Foundation, VIA Metropolitan Transit Authority’s Citizens Advisory Council and numerous educational and cultural organizations.

That civic engagement is not separate from his professional work. It informs it.

“I like the people I work with — clients, other professional consultants and public policy makers, including elected officials and local government staff,” Killen said. “I also enjoy seeing the results of our efforts in the form of new projects taking shape that create jobs and build the economy.”

Recognition has followed, including the Philip M. Barshop Founder’s Award for impact on San Antonio’s real estate development industry and multiple honors for leadership and public service.

For Killen, success is not defined by speed or volume. It is defined by durability, projects that move forward because stakeholders are aligned, communities are strengthened and the answer ultimately becomes yes.

Director

RAYMOND KANE

Raymond J. Kane: Structuring real estate to endure beyond the closing

Some professionals measure success by closings. Raymond J. Kane measures it by endurance. Across more than four decades in commercial real estate law, Kane has built a reputation for structuring projects, relationships and institutions that are designed to last — not just through a deal cycle, but through decades of ownership, market disruption and generational change.

Texas

Kane is a founding director of Kane Russell Coleman Logan PC, where he concentrates his practice on real estate, lending, corporate and federal taxation matters with a particular emphasis on leasing and construction across all phases of commercial development. His work spans office, industrial, mixed-use, retail and hospitality projects, as well as complex ownership structures, distressed assets and long-term governance frameworks.

“Ray is a highly regarded Texas attorney known for his leadership and strategic counsel in complex real estate, lending, corporate, and federal tax matters,” his nomination noted.

Kane’s relationship with land began before law school. His earliest professional experience as an oil and gas landman sparked a fascination with land, title and ownership that would define his career.

“My original experience as an oil and gas landman formed the basis for my fascination with land and title to real property,” Kane said. “Combined with my years working as a commercial real estate attorney, I have been blessed to be able to work on land and development projects for over 45 years.”

What Kane enjoys most about the business is not a single transaction, but the full lifecycle of a project from inception through maturity.

“While I have enjoyed the wide variety of legal work that I see day in and day out, the most enjoyable aspect of my career has been starting a project from scratch,” Kane said. “Beginning with the initial land planning, negotiating the entitlements, guiding the due diligence and property acquisition process and drafting and structuring all relevant agreements …. and most of all, negotiating a portfolio of long-term lease agreements which are both financeable and marketable, some of which will survive me by decades!”

That long view has been shaped by hard-earned experience. Kane practiced through the savings and loan crisis of the 1980s, multiple boom-and-bust cycles and the disruption that followed COVID. Those periods reinforced a core set of principles that now anchor his work.

“My keys for success in this business were hard-learned,” Kane said. “Always know the ‘rules of engagement’ and stay within the law, and follow the rules which govern your real estate activities; when you make a commitment always produce what you promised; and never turn your back on a friend or other relationship.”

In 1992, Kane and his partners founded Kane Russell Coleman Logan PC, committing to build a Texas-based and Texas-owned law firm capable of providing sophisticated legal services at mid-market rates. As the firm enters its 35th year, Kane remains proud of competing against national mega-firms while maintaining local roots.

Beyond his legal practice, Kane is a frequent speaker on real estate law, has served as an adjunct professor at Southern Methodist University and remains deeply engaged in civic leadership. One of his most meaningful personal projects involved the development of an in-channel mitigation bank restoring miles of Texas streams and hundreds of acres of land.

“That project will likely survive my eventual demise,” Kane said, “but the chance to restore an entire watershed has been a true blessing.”

For Kane, the ultimate measure of success is not how quickly a deal closes, but how well it holds together over time. In a business often driven by urgency, his career stands as a reminder that the most enduring work is built with patience, principle and respect for the long arc.

We are proud to congratulate

Raymond Kane on being named a 2025 Texas Commercial Real Estate Icon by REDnews

Vice President, Broker

Lee & Associates

Houston, Texas

Stephen Kuper: Sustaining industrial relevance through fundamentals

In industrial real estate, longevity is not an accident. It is built deal by deal, cycle by cycle, through fundamentals that hold when markets change and patience when others rush. For Stephen Kuper, that long view has defined a career that continues to matter nearly four decades in.

Kuper is a vice president and broker at Lee & Associates – Houston, where he advises clients on industrial acquisitions, site development, construction, leasing and sales. With 39 years in commercial real estate, he has guided local businesses and national corporations through complex transactions involving large-scale facilities of up to 480,000 square feet. In the past three years alone, he has completed more than $150 million in transactions, a testament to sustained relevance in a rapidly evolving market.

“Stephen Kuper has made a remarkable and enduring impact on Houston’s commercial real estate industry through nearly four decades of exceptional brokerage, development expertise, leadership and mentorship,” wrote the peer who nominated Kuper.

Kuper’s work has always been grounded in practicality. He values efficiency, flexibility and time management, believing that how and where work gets done matters as much as the work itself.

“I value the ability to engage with clients efficiently through phone and computer, which allows me to spend less time confined to a traditional office environment,” Kuper said. “This flexibility enables me to conduct business wherever I am, as long as I have access to my technology. With only 24 hours in a day, how and where time is spent is critical, and I take pride in using that time productively by working wherever business requires.”

That efficiency creates space for what he finds most rewarding: watching people and businesses grow over time.

“Equally rewarding is the opportunity to grow alongside the companies and people I work with,” Kuper said. “Watching businesses scale, teams develop, and individuals advance in their careers is incredibly fulfilling, and being able to play a role in that growth is one of the most enjoyable aspects of this business.”

Patience has been a constant requirement. Many of Kuper’s most challenging deals were not complicated by speed, but by duration and complexity.

“Some of the greatest challenges I have encountered involve transactions that require years of persistence to identify the right opportunity for a client, as well as deals complicated by significant legal or environmental issues,” Kuper said. “Successfully navigating these situations required patience, problem-solving, and a longterm commitment to seeing each transaction through to completion.”

That commitment is anchored in transparency. Kuper has never approached brokerage as a quick close or a sales exercise.

“I attribute much of my success to persistence and to not approaching this business like a car salesman focused solely on closing a deal,” Kuper said. “My priority has always been to help my clients by clearly explaining both the good and the bad of any property or transaction.”

Recognition has followed naturally. Over the years, Kuper has earned multiple TNRG Rainmaker Awards, the TNRG Pacesetter Award and recognition as a Top Producer. Most recently, he received REDnews’ Most Significant Lease Transaction Award for the Gulf Inland Logistics Park project. Beyond transactions, his influence extends through mentorship at both TNRG and Lee & Associates, where he has guided young brokers whose careers continue to benefit from his example.

Outside of work, Kuper enjoys saltwater fishing, traveling, cruising and time with family, pursuits that mirror the same patience and perspective he brings to his profession.

In an industry often defined by momentum, Kuper’s career is defined by consistency. By staying disciplined, transparent and focused on fundamentals, he has built relevance that endures by focusing not on what was changing, but on what was constant.

CONGRATULATIONS

STEPHEN KUPER

LEE & ASSOCIATES - HOUSTON would like to congratulate you on being named a REDnews Texas Commercial Real Estate Icon.

STEPHEN KUPER | Vice President skuper@lee-associates.com D 713.744.7405

CEO

Jim Lake Companies

Dallas, Texas

Jim Lake Jr.: Reimagining overlooked places through conviction and time

Before the Bishop Arts District became a destination, it was three blocks of boarded-up buildings most people avoided.

Before the Dallas Design District became a hub for creativity, it was a collection of aging warehouses few could imagine living in, much less building a neighborhood around.

Jim Lake Jr. saw something different.

Lake is the CEO of Jim Lake Companies and one of the most influential figures in Dallas’ modern redevelopment story. Over more than four decades in commercial real estate, he has built a career around conviction-driven adaptive reuse, taking overlooked industrial and historic properties and reshaping them into places where communities could take root.

“Jim Lake Jr. has made a transformative impact on urban redevelopment in Dallas and surrounding areas over a 40-plus-year career,” the person who nominated Lake said.

Lake’s path into real estate began early. After graduating from Baylor University in 1981 with a degree in real estate, he started as a broker before joining his father, Jim Lake Sr., at Jim Lake Companies in 1985. It was nine years into his career when he discovered what would become his life’s work: redevelopment that required imagination, patience and a willingness to hear no.

“What I enjoy most about the business of real estate is being able to see the bigger picture of taking something that most people overlook and bringing it back to life,” Lake said. “I love the result of redeveloping historic buildings that in some cases have been vacant and ignored for years and revitalizing them and seeing the successful outcome years later.”

That vision took its first defining shape in Bishop Arts. In 1985, Lake brokered the sale of three blocks of abandoned buildings to his father, then partnered in their redevelopment. The effort was slow and often uncertain. Tenant mix took years to refine. Community trust had to be earned. Financing came with skepticism. The payoff was long-term.

“Despite negative perceptions, we took a risk to make the investment because we believed in it and now Bishop Arts District has become a Dallas destination,” Lake said. “Over a 20-year period we were able to see the positive impact that the redevelopment of Bishop Arts made within the community.”

He carried that same approach into the Trinity Industrial District, later known as the Dallas Design District. Lake acquired and repurposed warehouses into creative office and residential spaces, including Trinity Lofts, the district’s first mixed-use multifamily redevelopment, and International on Turtle Creek, a former parts warehouse that had sat vacant for a decade.

“International on Turtle Creek sat vacant for 10 years before I took my vision to GFF architects and they helped turn my vision into a reality that changed the Dallas Design District,” Lake said.

Redevelopment, Lake says, is rarely easier than ground-up construction. Hidden conditions, outdated building codes and regulatory hurdles require persistence and creativity. He also learned hard lessons during the real estate recession of the late 1980s, when deals were poorly structured and capital was unforgiving.

“I received a lot of nos,” Lake said. “I learned a lot about how to not structure real estate deals.”

That long view has remained consistent. Lake and his wife, Amanda Moreno-Lake, rarely sell assets, instead focusing on building distinctive destinations with carefully curated tenant mixes that encourage authenticity and community engagement.

“We wanted to make a reasonable return on our investment but also positively impact the community as well,” Lake said. “What has allowed us to thrive in our business has been being selective of our tenants and creating a diverse environment where people can embrace their authenticity.”

Outside of real estate, Lake finds grounding in the outdoors and at the family ranch, places that mirror the patience and perspective his work demands. His legacy is not defined by speed or scale alone, but by the willingness to see potential where others see decline. In Dallas, entire districts stand as proof of what happens when conviction meets time.

CONGRATULATIONS Mehrdad Moayedi 2025 REDnews Texas ICON

Congratulations Mehrdad on receiving the 2025 REDnews Texas ICON award!

This achievement is an award that you have earned through hard work, perseverance, grit, determination, and integrity. It’s incredible to reflect on how far we’ve come since our friendship began more than 40 years ago and the blessings along the way. You are so deserving of this award, and I am proud to call you a dear friend and partner!

Wishing you continued success and many more accomplishments ahead!!

David H. Craig CEO/Chairman Craig International

Managing Principal, Broker

Lee & Associates

Houston, Texas

CHRIS LEWIS

Chris Lewis: Adapting office strategy when the playbook breaks

Office markets don’t reward complacency. For Chris Lewis, the past several years has underscored a reality he has understood for most of his 25-year career in commercial real estate: markets change, fundamentals shift, and success belongs to those willing to adapt faster than conditions deteriorate. Reinvent yourself often, have multiple backup plans, and lead with technology & innovation, Lewis would tell you. As Managing Principal and broker at Lee & Associates – Houston, Lewis has built his reputation not on waiting for cycles to turn, but on navigating them with discipline and strategy.

Over the course of his career, Lewis has become one of Houston’s most influential office brokers, completing more than 300 transactions valued at more than $350 million in the past five years alone. He is also the founder and co-managing principal of Lee & Associates – Houston, where he transformed an eight-person startup into a nearly 45-person firm, while helping shape national strategy as chairman of the Lee & Associates Landlord Agency Group and leader of the firm’s Datacenter and Mission Critical Team.

“Chris Lewis has made a transformative, profound, and far-reaching impact on Houston’s commercial real estate industry through his extraordinary and visionary leadership, consistent top-tier production, exceptional market expertise, and deep commitment to community advancement,” the person who submitted the nomination said.

Lewis’ work has long centered on acquisition and revitalization, particularly in the office sector. His approach is rooted in the belief that underperforming assets can regain relevance with the right combination of capital planning, physical upgrades, technologized marketing, and leasing discipline. Repositioning a building, improving tenant experience, modernizing systems and aligning those investments with a clear leasing strategy are not abstract concepts for Lewis. They are daily practice.

“I’ve seen multiple cycle booms, downturns, credit tightening, and now a post-COVID environment that’s reshaped how people use office and mixed-use space,” Lewis said. “That experience matters because today’s challenges require more than ‘wait for the market to bounce back,’ they require strategy, creativity, and execution.”

That philosophy has been tested repeatedly in recent years. Office attendance has not fully recovered, interest rates have reshaped valuation expectations and tenants are downsizing or rethinking space altogether. Rather than retreat, Lewis has leaned into adaptation, helping landlords compete through flexibility, experience, and transparency with the client goals as the primary focal point.

His operating principles are straightforward and non-negotiable: thoroughness, honesty, transparency, and relentless follow-up. Lewis believes clients can handle difficult news, but not surprises, and he prioritizes actionable recommendations over vague guidance. Momentum, he often says, dies in silence, which is why communication and presence remain central to his work.

“I never stop pursuing solutions. If the old playbook isn’t working, you adjust,” Lewis said. “I make a point to reinvent myself every year, both personally and professionally, because markets, tenants, and capital evolve, and long-term success belongs to those who keep learning and adapting.”

Beyond brokerage, Lewis’ influence extends into mentorship and civic engagement. He serves on the University of Houston Bauer College of Business Executive Advisory Board and is active in organizations including SIOR, ULI, NAIOP, the Greater Houston Partnership and the Houston Livestock Show and Rodeo, where he has been involved for more than two decades.

Away from the office, Lewis spends much of his time at his children’s sporting events, a season of life he describes as busy but grounding. That perspective carries into his professional life as well, reinforcing a long view shaped by trust, relationships and consistency.

In a market defined by uncertainty, Lewis’ value has been built on something steadier: experience, adaptability and the confidence that comes from having navigated difficult cycles before.

CONGRATULATIONS CHRIS

LEE & ASSOCIATES - HOUSTON would like to congratulate you on being named a REDnews Texas Commercial Real Estate Icon.

CHRIS LEWIS, SIOR | Managing Principal

clewis@lee-associates.com D 713.744.7441

Patti Miller: Turning business development into a strategic growth engine

At E.E. Reed Construction, business development was not always central to the company’s strategy. Over time, that shifted—intentionally—and Patti Miller was a key driver of that transformation.

Miller is a Vice President at E.E. Reed Construction, where she has spent 15 years reshaping how business development functions inside a commercial construction firm. What began as a support role evolved into a strategic engine. Strong alignment with marketing, operations, long-term vision. Today, business development at E.E. Reed extends beyond pursuits. Intentional growth. Cultural alignment. Disciplined execution.

“Patti has proven that business development is not just shaking hands and attending events; it’s about disciplined strategy, accountability, and alignment between revenue generation, operations, and culture,” the nominator said. “She has been instrumental in tying together our marketing, BD, and operational efforts so we are intentional about which projects we chase, how we serve our clients, and how we show up in the market. Her leadership has strengthened our brand, deepened our client relationships, and helped ensure that our growth is both sustainable and aligned with our values.”

Miller’s career spans public relations, engineering, commercial construction, business development, marketing and operations, giving her a cross-functional lens that informs how she leads. She works closely with executive leadership to align market positioning with operational readiness, ensuring the firm pursues the right work at the right time with the right teams in place. That alignment, she says, is essential in an industry where growth can easily outpace infrastructure.

“I’ve been involved in commercial real estate and the AEC industry for roughly two decades, primarily through commercial construction and business development leadership,” Miller said. “Over that time, my role has evolved from supporting client pursuits to helping shape strategy at the executive level— aligning market positioning, relationship management, and operational readiness.”

Her work sits at the intersection of people, planning and accountability. Miller believes commercial real estate and construction are fundamentally collaborative, requiring clarity across disciplines that do not always speak the same language.

“What I enjoy most is the intersection of people, strategy, and building something tangible,” Miller said. “Commercial real estate is ultimately a team sport—when it’s done well, it requires trust, clarity, and collaboration across disciplines that don’t always speak the same language.”

A defining aspect of Miller’s leadership has been her focus on structure. She has helped build internal systems that connect business development, marketing and operations, creating accountability and consistency as the firm scales. That work has strengthened client relationships, protected company culture and positioned E.E. Reed for sustainable growth rather than opportunistic expansion.

Her influence extends beyond the firm. Miller is an active leader in Houston’s commercial real estate and development community, currently serving as treasurer for the Urban Land Institute and holding leadership roles with NAIOP, ACRP, CoreNet Global and the Greater Houston Women’s Chamber of Commerce. She is also deeply involved in philanthropy, including leading the Make-A-Wish Builders of Hope Sporting Clays Tournament.

Opening doors for others, particularly women, has been a throughline in Miller’s career. Early on, she saw firsthand how few women occupied strategic leadership roles in business development. That experience shaped how she leads today, with intention and advocacy.

“One of the biggest challenges was simply being a woman in a space where there were very few women in business development—and even fewer in strategic leadership roles,” Miller said. “That experience shaped how I lead today: with confidence, preparedness, and a commitment to creating more visible pathways for others.”

Miller holds a bachelor’s degree in communication studies from The University of Texas at Austin and an MBA from Texas A&M University. She has been recognized as a Houston Business Journal Women Who Mean Business honoree and Bisnow’s Deal Maker of the Year.

For Miller, success is not defined by visibility alone. It is defined by alignment: when strategy, people and execution move in the same direction and growth becomes intentional rather than reactive.

President

& CEO

Centurion American Development Group Farmers Branch, Texas

Mehrdad Moayedi: Developing communities with long-term civic responsibility

For Mehrdad Moayedi, development begins long before the first home is built. It begins with people, with cities and with the responsibility that comes from shaping places where thousands of families will live their lives. As president and CEO of Centurion American Development Group, Moayedi has spent more than four decades building not just projects, but long-term community frameworks across North Texas.

Moayedi founded Centurion American in 1990 after early work in landscaping and construction introduced him to the development process. Since then, the company has delivered thousands of homes and helped shape more than 75,000 acres of land through master-planned communities, residential developments and public-private partnerships. Centurion’s work spans major Texas markets as well as Colorado, with a focus on aligning growth with civic priorities.

“Mehrdad is a visionary leader whose developments transform communities, elevate property values, and foster economic growth,” the person who nominated Moayedi said. “Beyond his projects, he is deeply committed to philanthropy and civic engagement, supporting education, health initiatives, and community enrichment programs that enhance the quality of life across North Texas.”

Moayedi’s approach is rooted in collaboration with municipalities. He works closely with city leaders to define long-term visions for growth, whether guiding small towns like Gunter and Howe through future planning or partnering with the City of Dallas on landmark redevelopments such as the Statler Hilton and Old Library project.

“I really enjoy working with municipalities and communities on creating a new vision for their spaces,” Moayedi said. “Whether we’re working with small municipalities to define their futures or preserving the past with projects like The Statler, our team loves to find the best in each city.”

That sense of responsibility is deeply personal. Moayedi immigrated to Texas as a teenager during a period of upheaval in Iran, an experience that shaped his view of opportunity and obligation.

“Moving to Texas as a teen during the time immediately before the Shah was removed from power was so difficult,” Moayedi said. “This country welcomed me in ways I couldn’t have imagined, and every day I work to give back for that reason.”

Giving back has become a defining throughline. In 2004, Moayedi founded Operation Forever Free, an organization that provides homes for injured military service members. He has underwritten and supported numerous charitable initiatives across North Texas and was honored as Citizen of the Year by the Friends of the Dallas Police Awards Banquet. His industry peers have also recognized his work with honors including Fort Worth Builders Association Developer of the Year and the John Harbin Visionary Award.

At Centurion, Moayedi emphasizes commitment as the foundation of success.

“The single greatest factor to our success is our commitment: commitment to people, to places and to projects,” Moayedi said. “I have always asked those who work with me to commit to the projects and communities we serve, and we create lifelong partnerships with those cities.”

That philosophy extends to leadership development. Moayedi takes pride in training the next generation of residential real estate leaders, ensuring Centurion’s values carry forward.

Outside of work, he spends time with his two daughters, travels and follows sports, grounding influences that reinforce perspective.

For Moayedi, development is not measured by speed or scale alone. It is measured by stewardship — by what communities look like decades later and whether the people who live there are better for it.

Development Partner & Executive Vice President

NewQuest Properties

Houston, Texas

Heather Nguyen: Curating global retail concepts into lasting U.S. destinations

The most consequential retail developments often begin far from the site itself. For Heather Nguyen, they begin overseas. As managing director of Asia Pacific Advisory Services, executive vice president and development partner at NewQuest, Nguyen has spent decades traveling internationally to identify emerging retail concepts and bring them to U.S. markets. Her work centers on curation, timing and alignment, turning global ideas into resilient domestic destinations that feel both distinctive and durable.

“Heather has traveled to multiple countries to bring concepts back to the states where they open highly successful stores,” the person who nominated Nguyen said. “Many of those stores are in redevelopments that she has been instrumental in pulling together.”

Nguyen joined NewQuest in 2000 and has since helped shape some of the firm’s most prominent retail developments and repositionings. Her portfolio includes projects such as The Shops at Pearland Parkway, Carrollton Town Center, Frisco Ranch Shopping Center and The Shops at Katy Grand, West on West as well as recent developments and redevelopments in Arizona, Georgia and Illinois. Across more than 30 years in commercial real estate, she has facilitated over $10 billion in transactions, combining development insight with deep leasing expertise.

What sets Nguyen apart is not just her global perspective, but her discipline. Every project she touches is guided by a careful curation of a tenant mix that brings the richness of the Asian cultural experience together in one destination, allowing visitors to engage with it locally rather than having to travel abroad.

“One of the biggest challenges I encountered early in my career was entering an industry that is heavily relationship-driven at a time when there were very few women—and even fewer Asians—in commercial real estate. When I started over 30 years ago, I often found myself as the only Asian woman in the room, navigating spaces where long-standing relationships already dictated opportunity. I realized early on that competing for the same opportunities wasn’t where I could add the most value—I needed to create my own lane,” Nguyen said.

Her strength lies in bridging two worlds—combining a deep understanding of Asian brands with the ability to translate that insight into successful U.S. market launches. Recognizing a clear gap in the market, she developed retail centers that created a platform for Asian concepts capable of resonating with mainstream audiences, at a time when such opportunities simply did not exist.

“That clarity led me to focus on serving the Asian business community and creating a platform for Asian companies to successfully enter and scale in the U.S. market. I often saw strong Asian concepts overlooked by major landlords—not because they lacked quality, but because the brands and business models were unfamiliar. I understood those concepts, their cultural nuances, and their operational needs, and I knew I could bridge that gap. That became my niche and my strength: helping Asian brands strategize, secure real estate, and launch successfully in the U.S. .”

Her work often centers on entrepreneurs, particularly international brands entering the U.S. market for the first time. Nguyen sees those relationships as collaborative rather than transactional, built on trust, preparation and follow-through.

“Working with entrepreneurs and meeting incredibly inspiring people is what I enjoy most,” Nguyen said. “I love building relationships, connecting people, and helping entrepreneurs think through solutions and strategies that support their success and long-term growth.”

That relationship-driven approach has earned Nguyen widespread industry recognition, including multiple Top Producer Awards, the CoStar Community Impact Award, Houston Business Journal’s Women Who Mean Business and H Texas Magazine’s Women in Business honor. She has served on boards including Commercial Gateway and the Midtown Redevelopment Authority and remains active with ICSC.

Outside of real estate, Nguyen and her husband, Dr. Shawn Taher, co-founded Toys Fore Kids Foundation, a nonprofit supporting organizations such as Texas Children’s Hospital, Driscoll’s Children’s Hospital, Kidz Harbor Foster Care, Santa Maria Hostel and the Houston Area Women’s Shelter. Family time and travel remain central to her life, reinforcing the curiosity and cultural fluency that shape her professional work.

For Nguyen, successful retail is never accidental. It is curated, sequenced and built on relationships that span borders. The result is development that feels both global in perspective and grounded in execution, shaping destinations that last well beyond the opening day.

First Vice President and Regional Manager

Marcus & Millichap Houston, Texas

FORD NOE

Ford Noe: Resetting brokerage growth through systems and talent development

Before 2018, Marcus & Millichap’s Houston office was productive but unsettled. Headcount was modest. Growth was uneven. The foundation needed work. When Ford Noe stepped into the role of market leader that year, he saw the moment clearly: before the office could move forward, it needed a reset.

Noe is the senior managing director and market leader of Marcus & Millichap’s Houston office, where he has overseen one of the firm’s most dramatic growth stories. Since assuming leadership, the office has quadrupled its headcount and revenue and completed more than $10 billion in transactional volume, emerging as one of the company’s top-performing markets nationwide.

Noe joined Marcus & Millichap in 2013 as an associate focused on multifamily investments in Los Angeles. His early success as a producer shaped his understanding of brokerage at the ground level, but leadership, he realized, required a different skill set. When he arrived in Houston, his focus shifted from individual transactions to building systems that could scale talent, performance and accountability across an entire platform.

“What I find most rewarding about commercial real estate is the opportunity to develop people and help them build lasting careers,” Noe said. “To see individuals fulfill personal goals and aspirations is extremely rewarding.”

Central to that transformation has been Noe’s emphasis on people. He believes brokerage success is not just about recruiting talent, but about preparing it. That philosophy led him to create Marcus & Millichap’s Summer Internship Program, a firmwide initiative designed to standardize training and expose students to the realities of commercial real estate brokerage.

Previously, each office ran its own version of an internship program with inconsistent outcomes. Under Noe’s direction, the program was rebuilt as a rigorous, eight-week curriculum focused on hands-on experience, mentorship and accountability. Now in its fifth year, it operates across offices nationwide and has become one of the most competitive entry points in the industry, drawing tens of thousands of applicants annually for a limited number of spots.

“Many former interns have since returned to the firm, launching successful careers as brokers and contributing to Marcus & Millichap’s ongoing growth,” the individual who submitted the nomination said. “It stands as a testament to Ford’s ability to identify high-potential talent and prepare them for lasting careers in commercial real estate.”

For Noe, the program reflects a broader belief that culture and performance are inseparable.

“To thrive in this industry, I have focused on building a high-performing team and creating scalable systems for recruiting and development,” Noe said. “I have worked to create a culture of accountability, performance, and mentorship that allows professionals at every level to grow.”

A Texas native and graduate of Southern Methodist University’s Cox School of Business, Noe balances his professional focus with time spent golfing, running and spending time with his wife, Emily and two daughters Charlotte and Rosemary. That balance mirrors his leadership philosophy: set a high bar, provide the tools to meet it and give people room to run.

For Noe, the Houston office’s growth is not the finish line. It is proof of what happens when vision, systems and talent development align and a blueprint for what comes next.

Founder + CEO

RedSwan Digital Real Estate

Houston, Texas

Edward Nwokedi: Reengineering real estate investing through tokenization and liquidity

Traditional commercial real estate investing was never designed for speed, access or liquidity. For decades, capital flowed through a system built on long hold periods, high barriers to entry and limited transparency. Edward Nwokedi built his career inside that system, then set out to reengineer it.

Nwokedi is the founder and CEO of RedSwan Digital Real Estate, a Houston-based platform that has emerged as a pioneer in the tokenization of commercial real estate. Through RedSwan’s SEC- and FINRA-compliant marketplace, more than $9 billion in commercial real estate assets have been tokenized, expanding access to investment opportunities that were once reserved for institutions and ultra-high-net-worth investors.

“Ed is moving CRE investing into the present future via tokenization,” the person who submitted his nomination said. “He is ensuring that the largest asset class is inclusive and liquid for all investors”

Before launching RedSwan, Nwokedi spent more than two decades in commercial real estate and capital markets, including a tenure as executive director at Cushman & Wakefield where he oversaw $2.7 billion in multifamily transactions in Texas. That experience gave him a front-row seat to the inefficiencies baked into traditional investment sales, from illiquidity to limited investor participation.

Rather than stepping away from the industry, Nwokedi chose to challenge its assumptions.

“I realized that competing on the open market wasn’t enough,” Nwokedi said. “I had to learn how to disrupt, differentiate, and win.”

RedSwan was built to do exactly that. By transforming real estate into fractional, digitally tradable securities, the platform allows investors to buy, sell and diversify positions with a level of flexibility historically unavailable in commercial property ownership. The model emphasizes liquidity, affordability and transparency, reframing real estate as an asset class that can move at the pace of modern capital markets without sacrificing regulatory compliance.

Digital Capital Markets is growing fast with stablecoins, money market funds and treasuries. Now this expanding pool of capital will have exposure to tokenized real estate as an investment option. “Stablecoin transactional activity reached $33T last year”.

Nwokedi’s approach is deliberately infrastructure-focused. RedSwan is not positioned as a speculative tech venture, but as a compliant marketplace designed to integrate with rapidly expanding digital capital markets eco system. Nwokedi holds both Series 82 and Series 65 FINRA licenses, and the platform’s emphasis on compliance reflects his belief that innovation only matters if it can scale responsibly.

The strategy is rooted in discipline as much as vision. Nwokedi often describes commercial real estate as a series of puzzles, each defined by timing, motivation and structure. Tokenization, in his view, is not a replacement for fundamentals, but an enhancement wrapper with more speed, transparency and efficiency.

“We’re entering a new era of investment real estate, and staying ahead of that shift has been essential,” Nwokedi said. “Liquidity, affordability, accessibility, and transparency are reshaping the landscape, and positioning RedSwan early in this evolution has been a key factor in our success.

Beyond RedSwan, Nwokedi remains closely tied to the industry’s next generation. He serves on the advisory board of the University of Houston’s Bauer College of Business Real Estate Program, contributing insight shaped by both traditional brokerage and emerging financial technology.

Nwokedi’s career reflects a throughline of adaptation. Having worked through multiple market cycles, he now operates at the intersection of real estate and finance, building systems meant to outlast individual deals. For him, the future of commercial real estate is not abstract or theoretical. It is already taking shape, one tokenized asset at a time.

Vice President

Transwestern Houston, Texas

A. DAVID SCHWARZ III, SIOR

A. David Schwarz III: Practicing patience in a business defined by long horizons

Practicing patience in a business defined by long horizons

Land brokerage teaches patience in a way few corners of commercial real estate do. For A. David Schwarz III, that patience has defined more than five decades in the business. As Vice President at Transwestern, Schwarz has built a career navigating the longest timelines, the highest uncertainty and the most unforgiving margins in commercial real estate, all while earning a reputation for trust that has outlasted multiple market cycles.

Schwarz began his career in the early 1970s, entering commercial real estate at a time when the industry itself was still taking shape. After working with several boutique firms, he founded A. David Schwarz III Inc. in 1977, eventually joining REOC as Executive Vice President and later becoming a partner and shareholder at McDade, Smith, Gould Johnston & Mason. When that firm closed in 2010, Schwarz partnered with Carlos Bujosa and joined Transwestern, where the two have worked side by side ever since.

“Commercial land brokerage is one of the most complex segments of CRE due to long timelines, entitlement risk, valuation challenges, limited buyers and market unpredictability,” Schwarz said.

That complexity is precisely where Schwarz has spent his career. He specializes in the acquisition and disposition of land, freestanding assets and multitenant properties as well as tenant representation, often representing projects that require years of diligence before a deal ever materializes. His client list spans developers, institutions, public entities and nonprofit organizations and his work has touched some of the region’s most consequential sites.

Schwarz’ longevity is not accidental. He has navigated the real estate downturns of the 1970s, the savings and loan crisis of the late 1980s and the financial crisis that rippled through the industry around 2010. Each period reinforced the same lesson: fundamentals matter, relationships matter and discipline is non-negotiable.

While transactions anchor his professional life, service has long shaped his identity. The person who nominated Schwarz highlighted that he has held leadership roles across nearly every major real estate organization in Texas, including serving on the boards of the Houston Association of Realtors, Texas Association of Realtors and National Association of Realtors. Schwarz continues his service to the Realtor Community by serving on both HAR’s Political and Governmental Affairs Advisory Groups. He is a past president of the Gulf Coast Chapter of SIOR and a lifetime member of the University of Texas Ex-Students Association, the Houston Livestock Show and Rodeo and the FBI Houston Citizen’s Academy.

Civic involvement has never been a sidebar. Schwarz has served as president of the Rotary Club of Houston during its peak years and remained deeply involved with the Rotary Lombardi Award. He has also supported organizations including the American Cancer Society, American Diabetes Association and JDRF, reflecting a belief that leadership carries responsibility beyond the office. For his service to the community David was honored to receive HAR’s John E. Wolff Community Service Award.

Today, Schwarz holds both Realtor Emeritus and SIOR Emeritus status, honors that speak not only to longevity but to consistency. He still approaches each assignment with the same mindset that carried him through decades of volatility.

“I personally believe you should serve your clients’ needs first and success will follow,” Schwarz said.

After 55 years in commercial real estate, Schwarz measures achievement not by how fast deals close, but by how long relationships last. In a business often defined by urgency, his career stands as proof that patience, integrity and stewardship still have a place at the center of the profession.

President & Co-Founder

Scott + Reid

Addison, Texas

BRAD REID

Brad Reid: Building at scale without losing craftsmanship or trust

Brad Reid has never been especially interested in titles or grand explanations. When asked what he does for a living, his answer has long been simple: “We build stuff.” It is not a throwaway line. It is a philosophy that has guided nearly four decades in commercial construction and helped turn Scott + Reid into one of the largest privately owned general contractors in Texas.

Reid’s career began the way many builders wish theirs had: at the ground level. After college, he went straight into commercial construction, starting in estimating and learning how projects work from the numbers outward. That foundation gave him a rare fluency across every phase of a build, from early budgeting to jobsite execution. In 1992, he co-founded Scott + Reid with business partner and longtime friend Chris Scott, setting out with a clear goal to build projects the right way and work with people they respected. More than 30 years later, that goal still defines the firm.

“Brad built the operational framework, safety systems, quality-control processes and team culture that transformed a two-person startup into what it is today,” the person who nominated Reid said. “It is thanks to Brad’s steadfast leadership that the company scaled the right way and was able to maintain Scott + Reid’s reputation for quality for over three decades.”

Under his leadership, Scott + Reid expanded far beyond its early focus on office interiors, delivering ground-up construction, capital improvements and complex renovations across retail, industrial, medical, education and corporate campuses. The firm’s fingerprints are now on more than 6,000 completed projects representing more than $3 billion in construction, including landmark properties such as The Crescent, Old Parkland and Pegasus Park. Yet scale was never pursued at the expense of craftsmanship.

Reid is widely respected for his technical mastery. He can walk a jobsite and immediately understand the full picture: what works, what does not and what will need to change to keep a project moving. That ability has proven essential as the firm has grown, particularly through periods of industry and organizational change. Reid is candid about the difficulty of managing growth and evolution, especially when success has been built on long-standing habits and processes.

“I have learned that successful change requires listening, clear communication, and respect for the people who helped build the company,” Reid said. “When everyone understands the direction and feels included in the process, change becomes something the team moves through together rather than something that happens to them.”

That approach has translated directly into loyalty. More than 85 percent of Scott + Reid’s work comes from repeat clients, many of whom have partnered with the firm for two decades or more. Those relationships are built one project at a time, grounded in reliability, transparency and a willingness to stand behind the work long after a job is finished.

Reid oversees a team of more than 125 employees, many of whom look to him as a mentor as much as a leader. His focus on developing talent, strengthening client relationships and maintaining rigorous safety and quality standards has earned Scott + Reid 15 consecutive Dallas Morning News Top Workplace awards, including a No. 7 ranking in 2025.

Outside of work, Reid finds balance on his family ranch, where farming and ranching offer a different kind of building: slower, tangible and grounded. The work reinforces the same values that have shaped his career: patience, responsibility and pride in doing things the right way.

For Reid, success has never been about chasing the next job. It has been about earning the one that comes after.

Scott + Reid is a commercial general contractor specializing in high-profile corporate remodeling, transformative capital improvements, and new construction. Since its founding in 1992, the company has grown to become one of the largest privately owned construction firms in the state of Texas with offices in Dallas, and Houston. For more information visit scottandreid.com.

President & CEO

Ash Shah: A legacy of success in commercial real estate

Ash Shah’s career reflects a consistent focus on building scalable businesses across industries. As the founder and CEO of Impex Capital Group, a Houston-based commercial real estate investment firm that grew out of his Shah Family Office, Shah oversees a portfolio exceeding $2.1 billion in assets across 20 states. Over two decades, he has led investments spanning multifamily, industrial, office, retail, hospitality, senior living, self-storage, and land development, positioning the firm as a diversified national platform.

Under Shah’s leadership, Impex Capital Group has acquired more than 10,000 multifamily units, developed an additional 1,500 units through new construction and build-to-rent communities, and assembled over 2.3 million square feet of industrial and office space, along with 400,000 square feet of retail and mixed-use properties. Today, Shah serves as a co-sponsor, key principal, or equity owner in more than 75 properties, reflecting his creative approach to capital formation, deal structuring, and long-term asset strategy.

Houston, Texas

“Our goal has always been to build a portfolio that can perform through multiple market cycles, not just chase short-term opportunities,” Shah said. “We focus on strong fundamentals, the right partners, and assets we believe will hold their value over time.”

Before entering commercial real estate, Shah built his first major venture in the manufacturing and distribution sector. As founder and CEO of Impex Global, a plastic films, paper, and packaging company, he expanded operations across North America and into international markets. The company’s growth and performance ultimately led to a successful sale to a private equity firm in 2012.

Shah holds an MBA from the Thunderbird School of Global Management. His companies have been recognized among the “Top 100 Fastest Growing Companies” by the Houston Business Journal and Inc. 5000, and he was named “International Entrepreneur of the Year” by the Indo-American Chamber of Commerce. He has also held membership with the Forbes Finance Council.

Outside of work, Shah prioritizes family, community involvement, and hobbies. He is actively involved in supporting charitable and community initiatives and values spending time with his family. He especially enjoys traveling worldwide with his wife, kids and family & friends; watching and playing sports with his two boys, socializing with friends and trying different restaurants around the city. “Work is important, but the moments that you spend with family and your philanthropic giving is what truly lasts a lifetime. My favorite slogan is: Life is not measured by the number of breaths you take, but by the moments that take your breath away!”, Shah said.

Chief Operating Officer

Emerge Living Houston, Texas

ROMAN STEPHENS

Roman Stephens: Driving value creation through operational discipline

When performance falters, systems get exposed. For Roman Stephens, those moments are not setbacks. They are entry points. Over nearly 25 years in commercial real estate, Stephens has built a career stepping into underperforming or complex environments and turning operational discipline into durable value creation.

Stephens is president of Disrupt Group, the parent company of Disrupt Equity, Emerge Living and Stealth Renovations. Previously, he served as chief operating officer of Emerge Living, where he built and led the firm’s operating platform across a growing multifamily portfolio. His promotion reflects a broader mandate: aligning people, process and performance across vertically integrated real estate businesses.

“Roman Stephens has made a transformative impact in the multifamily real estate space by optimizing investment outcomes through operational excellence and strategic leadership,” one nominator said.

“His leadership focuses on creating value for residents, associates, and investors through innovative operating strategies and exceptional customer experience,” shared a second nomination.

Stephens’ career spans the full lifecycle of real estate. He began on the investment, fund management and development side before evolving into an operating executive responsible for large, complex portfolios. Along the way, he has held senior roles at organizations including Hines, Camden Property Trust, Northland Investment Corporation and Beam Living, a Blackstone portfolio company.

“That breadth has shaped how I think: real estate is never just about buildings or spreadsheets—it’s about people, process, and long-term stewardship of capital and communities,” Stephens said.

Many of the defining moments in Stephens’ career began with challenge. He has repeatedly stepped into organizations undergoing leadership transitions, operational strain or cultural misalignment.

“Turning around performance without losing people requires clarity, empathy, and consistency,” Stephens said. “I’ve learned that the hardest problems are rarely technical; they’re human. By listening first, setting clear standards, and empowering teams with ownership and accountability, I’ve been fortunate to help convert difficult moments into defining successes.”

At Emerge Living, that philosophy translated into tangible results. Stephens hired and developed more than 145 team members in a single year, emphasizing accountability alongside fulfillment. His leadership style centers on listening first, walking communities and engaging frontline associates before implementing change.

“What I enjoy most is the intersection of strategy and execution—taking a vision and turning it into tangible results. I’m especially energized by building and leading teams, simplifying complexity, and helping organizations unlock performance they didn’t realize was possible,” Stephens said. “Walking communities, listening to frontline associates, and translating those insights into better outcomes for residents and investors is deeply rewarding. Real estate is one of the few businesses where disciplined decisions can materially improve lives while also delivering strong financial returns, and that dual impact continues to motivate me.”

Stephens credits curiosity, discipline and humility as constants in his approach. He believes sustained performance depends on data-driven decision-making paired with human judgment, and on empowering teams with ownership rather than control. For Stephens, operational excellence is not a back-office function. It is the engine. When systems work and people are aligned, value creation follows — not just at closing, but every day after.

Outside of work, Stephens values time with family, travel and mentoring emerging leaders, experiences he says sharpen perspective and reinforce long-term thinking.

Managing Partner

Disrupt Equity

Houston, Texas

BEN SUTTLES

Ben Suttles: Growing a multifamily platform without sacrificing mission or discipline

Disrupt Equity did not grow by accident. For Ben Suttles, scale was never the goal on its own. It was the byproduct of discipline, operational rigor and a belief that multifamily investing should create value for residents, investors and communities at the same time.

Suttles is the co-founder and managing partner of Disrupt Equity, a Houston-based multifamily investment firm that has grown to more than $1 billion in assets across Texas, Florida and Georgia. Over the past several years, the firm has acquired and managed thousands of units, moving from early deals to a fully built platform without cutting corners along the way.

“Ben Suttles has redefined multifamily investing in Texas through innovative deal structures, operational excellence and a mission-driven approach,” one person who nominated Suttles said.

Suttles’ career in commercial real estate spans more than 15 years, beginning with early investments in multifamily assets and expanding through entrepreneurship in both real estate and technology. Prior to Disrupt Equity, he founded and scaled multiple companies across sectors, an experience that shaped how he approached growth once he committed fully to real estate. From the beginning, his focus was not just on acquiring properties, but on building systems that could sustain performance through market cycles.

“I find the most enjoyment in building communities and creating lasting impact—not just through delivering strong returns for investors, but by improving the quality of life for residents,” Suttles said. “I’m passionate about strategic growth, team building, and mentoring others in the industry. What I love most about multifamily investing is its dynamic nature—every deal presents new opportunities to learn, innovate, and create value.”

That mindset became especially important as Disrupt Equity reached an inflection point. Scaling from a handful of initial acquisitions to a multistate portfolio required credibility, disciplined underwriting and the ability to execute consistently in volatile conditions. Early challenges included navigating economic swings and earning trust in a competitive multifamily landscape, particularly while growing operations at speed.

Through strategic partnerships and a commitment to operational excellence, Suttles helped guide the firm through those pressures. Disrupt Equity has since gone full cycle on multiple deals, delivering strong returns while maintaining a people-first operating philosophy. The firm’s emphasis on execution and integrity has become a defining feature of its growth.

Suttles’ role extends beyond acquisitions and capital markets. He is deeply involved in team building, mentorship and the development of internal systems designed to scale efficiently without sacrificing culture. His belief that success in multifamily investing depends on trust and transparency has shaped Disrupt Equity’s approach to investors and residents alike.

Giving back is also woven into the firm’s mission. Through Disrupt Gives, Suttles has emphasized that business success should generate social impact, reinforcing the idea that long-term value creation goes beyond financial performance alone.

Away from the office, Suttles prioritizes time with family, fitness and travel, grounding influences that mirror his professional focus on balance and sustainability. Nearly two decades into his commercial real estate career, his trajectory reflects a consistent throughline: disciplined growth, operational integrity and a refusal to take shortcuts in pursuit of scale.

For Suttles, the real measure of success is not just how fast a platform grows, but how well it holds together as it does.

Founder & CEO

The Trocchio Advantage

Dallas, Texas

Liz Trocchio Smith: Turning executive experience into leadership transformation

Liz Trocchio Smith did not leave corporate leadership because she had reached the end of her career. She left because she realized she had more to offer. After more than three decades in commercial real estate, including senior executive roles at Cushman & Wakefield, The Woodmont Companies and Hines, Trocchio Smith reached a personal inflection point. She had built companies, led offices and mentored countless professionals. What came next was not another title, but a new way to scale impact.

Trocchio Smith is the founder and CEO of The Trocchio Advantage, an executive coaching and consulting firm built on the belief that leadership is learned through experience, not theory.

“She empowers high-potential professionals, especially women, to step out of their comfort zones, take on new challenges, and advance in their careers with confidence,” the person who nominated Trocchio Smith said.

Trocchio Smith’s career began in brokerage and development, but her leadership trajectory accelerated at Cushman & Wakefield, where she ran the Dallas office and later oversaw the firm’s Midwest region. Along the way, she became known not just for operational excellence, but for building teams and opening doors in an industry that was, and often still is, male-dominated.

“I built my career in commercial real estate — an industry that was, and often still is, very male-dominated,” Trocchio Smith said. “Early on, I realized that success required more than talent. It required understanding the dynamics, the politics and how to lead confidently in environments not built for you.”

Rather than allowing those challenges to narrow her path, Trocchio Smith leaned in. She founded and chaired Cushman & Wakefield’s Professional Women’s Global Gateway, a network that connected more than 1,500 women worldwide and helped recruit, retain and elevate talent across the firm. That experience planted the seed for what would later become her full-time focus.

After years in corporate leadership, Trocchio Smith launched The Trocchio Advantage to help others navigate the same inflection points she had faced. Her work spans executive coaching, leadership development, strategic alignment and succession planning for family-owned and corporate businesses. Clients include senior leaders, emerging executives and organizations seeking to strengthen their leadership pipelines.

“Now I help others to become who they truly want to be,” Trocchio Smith said. “Executive coaching, leadership development, workshops and key note speeches give me that opportunity.”

Trocchio Smith’s approach blends intuition with discipline. She holds an MBA from Southern Methodist University’s Cox School of Business and has earned advanced coaching certifications from Harvard University, the International Coaching Federation and Gallup. She is also a licensed Texas real estate broker, grounding her coaching in the realities of business rather than abstraction.

Industry recognition has followed, including honors such as Dallas Business Journal’s Most Influential Women in Business, Cushman & Wakefield’s first Diversity Service Award and CREW’s Outstanding Achievement Award. Trocchio Smith is also a co-author of “Winning Ways in Commercial Real Estate,” a best-selling book written with 17 other women leaders in the industry.

Outside of work, Trocchio Smith prioritizes time with her husband, Randy, her 7 year old twins, Max and Jordan (the 4 legged furry kind) and finds balance on the golf course, a place she jokes has become an obsession. The throughline, both personally and professionally, is intention.

For Trocchio Smith, leadership is not about authority. It is about influence. By turning executive experience into a platform for transformation, she has built a second act that extends her impact far beyond the offices she once led.

Head of Commercial Real Estate, United States

Norton Rose Fulbright US LLP

Austin, Texas,

KATIE VAN DYK

Katie Van Dyk: Bridging business, creativity and complexity in real estate law

She might be advising a small bakery on a lease one moment and helping secure a gigawatt-sized data center the next. That range is not an outlier for Katie Van Dyk. It is the point.

Van Dyk is a partner in Norton Rose Fulbright’s Austin office and serves as head of commercial real estate for the firm in the United States. Her practice spans every major asset class, from multifamily and hospitality to industrial, data centers and entertainment real estate, positioning her at the intersection of business strategy, legal precision and creative problem-solving.

“Katie Van Dyk is a driven professional with an innate ability to navigate uncertainty and see the big picture,” the industry peer who nominated Van Dyk said.

Van Dyk’s path into commercial real estate law began early. While still an undergraduate finance student at the University of Texas at Austin, she took a job at a boutique real estate law firm and was introduced to transactional practice. After earning her law degree from Tulane University Law School, she returned to Austin and began her career focused on land use and entitlements, a niche that would shape her approach to complex development work for years to come.

That foundation allowed Van Dyk to grow a broad transactional practice grounded in fluency across disciplines. Today, she advises clients on acquisitions and dispositions, joint ventures, debt and equity financing, leasing and distressed real estate matters. She is also an integral member of the firm’s data center team, guiding clients through the acquisition, development, leasing and operation of mission-critical facilities.

“What I love about practicing commercial real estate law is having the opportunity to be involved in projects across the US that I can actually physically experience, and that make a difference in people’s lives,” Van Dyk said. “real estate affects everyone and everything. I truly enjoy having a transactional practice where collaboration, creativity, and determination are the main ingredients for successfully closing a deal.”

Alongside her commercial work, Van Dyk has become one of the most sought-after real estate lawyers in Texas for arts and entertainment clients. She has represented studios, performance and music venues, galleries and film schools across the state, bridging the gap between creative industries and the business realities that support them. For more than a decade, she has served on the board of Texas Accountants and Lawyers for the Arts, including the past five years as president, helping build a statewide network of volunteer lawyers providing pro bono services to artists and arts nonprofits.

“I believe I have thrived because I am not tied to one specific asset class or type of work, but have remained a generalist within commercial real estate,” Van Dyk said. “This has made me able to say ‘yes’ to a variety of work and be agile as markets change.”

That adaptability has earned her widespread recognition, including listings in The Best Lawyers in America for Real Estate Law and Lawdragon’s Leading Dealmakers in America and Leading Global Real Estate Lawyers guides. She has also been named one of Austin’s top 50 attorneys and recognized as a Woman Leading Real Estate by Bisnow.

Beyond the office, Van Dyk balances a demanding practice with family life, creative pursuits and entrepreneurship. She and her husband, Ben, operate an independent film production company, The January July Company, which brings together her legal expertise, business instincts and love of the arts. She is candid about the challenge of balance and unapologetic about defining success on her own terms.

“For me, success is having the freedom, flexibility, and support to do what I want and then getting it done,” Van Dyk said. “I largely credit my successes so far to having the ‘get it done gene.’”

In an industry that rewards specialization, Van Dyk’s influence has been built on range. By moving fluidly between business, creativity and complexity, she has carved out a practice that reflects the full scope of what commercial real estate can be and where it is headed next.

Managing Partner

Pagewood Houston, Texas

Mat Volz: Building a real estate firm from the ground up

Inside Pagewood’s office, growth didn’t arrive with fanfare. It arrived through systems, shared responsibility and a deliberate decision to build deliberately without outside capital. For Mat Volz and Paul Coonrod, that choice shaped everything that followed.

Volz is a managing partner of Pagewood, a Houston-based real estate owner-operator and investment firm, leading all day-to-day operations and growth initiatives alongside founder Paul Coonrod. In just five years, the firm has grown to more than 80 properties totaling approximately $350 million in assets under management across industrial, housing, retail and office product types within the Houston metropolitan area. Pagewood’s rise over the last five years has been steady rather than splashy, built one relationship and one decision at a time.

“What truly defines him is how his leadership inspires collaboration, builds morale, and drives lasting success for Pagewood and every individual on our team,” the person who nominated Volz said.

Before joining Pagewood, Volz spent eight years at Stream Realty Partners, where he served as vice president and executed service business and joint-venture investments alongside institutional clients. During his tenure, he helped source and oversee more than 4.5 million square feet in Houston and completed more than $300 million in transactions, building technical fluency in leasing, capital markets and investment execution. Those skills became essential when he and Coonrod chose to build Pagewood without outside corporate investors, a decision Volz describes as both challenging and defining.

“Starting with limited resources demanded creativity, resilience, and an unwavering belief in our vision and long-term strategy,” Volz said. “It’s required wearing multiple hats, making difficult trade-offs, and earning trust one relationship at a time. At the same time, my wife and I have been raising a young family while navigating these demands of an entrepreneurial start-up business. Balancing those responsibilities has been both challenging and grounding; and it’s ultimately been a ton of fun and very rewarding.”

Culture has become a cornerstone of Pagewood’s identity. Volz leads from alongside his team, emphasizing listening, shared accountability and mutual respect. He believes real estate is ultimately a relationship-first business, one where insight and execution depend on trust.

“What I find most enjoyable about commercial real estate is the way it blends relationships, tangible assets, and disciplined analytics,” Volz said. “It is a relationship-first business where people and partnerships drive deal flow, paired with physical assets that allow you to directly see and measure the value created through business plan execution.”

Volz’s leadership has earned industry recognition, including being named RedNews’ Emerging Leader of the Year in Investments in 2025 and an HBJ Heavy Hitter in Office. He remains active in NAIOP Houston and community organizations, reflecting a commitment to developing talent beyond his own firm.

Away from work, Volz spends time with his wife and their two young children, enjoys watching football and playing golf and tennis. The balance mirrors his professional philosophy: growth is meaningful only if it is sustainable.

For Volz, Pagewood’s success is not measured by speed, but by durability. Building from the ground up has demanded patience, conviction and trust, the same qualities now embedded in the firm’s foundation.

Attorney

Porter Law Firm

Houston, Texas

SHANE WADDELL

Shane Waddell: Applying an owner’s lens to real estate transaction law

For Shane Waddell, real estate law starts long before signatures. It starts with land: raw, undeveloped and full of possibility. Over the past nine years, Waddell has built a practice focused on guiding that land from concept to completion, helping owners, developers and tenants navigate transactions with a calm, practical sensibility shaped by experience on both sides of the table.

Waddell is an attorney at Porter Law Firm, where he concentrates on commercial real estate transactions, development, leasing, title matters and proactive tax planning. In parallel, he serves as an attorney asset manager at Bridgewell Property Management. Through those dual roles, he has been directly involved in more than $500 million in transactions, while Bridgewell has collectively facilitated more than $1 billion in real estate deals across the Houston metroplex.

“Since 2016, Shane Waddell has quietly but powerfully helped shape the face of commercial real estate in Houston and its surrounding communities,” noted the person who nominated Waddell. “Shane’s impact is woven into the growth of Greater Houston’s suburban and master-planned communities, including Fulshear, Manvel, Beasley, Iowa Colony, Conroe, and Montgomery.”

Waddell’s interest in real estate law took shape early when he joined Porter Law Firm as a summer clerk in 2016.

“That initial experience gave me a front-row seat to both the legal side of transactions and the realities of owning and investing in real estate, and I quickly realized this was the path I wanted to stay on after graduation,” Waddell said. “I’ve been here ever since.”

What keeps him engaged is seeing legal work translate into physical outcomes.

“There’s something satisfying about seeing a “piece of dirt” turn into a developed site or a finished project,” Waddell said. “I especially enjoy working with clients who are building or expanding a business—helping them negotiate a lease for their first location and then watching their business grow into multiple locations over time.”

That work has touched fast-growing suburban and master-planned communities including Fulshear, Manvel, Beasley, Iowa Colony, Conroe and Montgomery. Waddell has guided landowners and developers as vacant tracts become retail centers, neighborhood hubs and mixed-use projects serving daily needs. On the tenant side, he has supported franchisees and small business owners bringing first locations to market and expanding footprints over time, working with brands such as My Fit Foods, Cold Stone Creamery, Jet Set Pilates and Perspire Sauna Studios.

“I’ve learned that even the most straightforward transactions can develop unexpected issues,” he said. “The hard part, and the part I take pride in, is working through those complications with clients and keeping the deal on track.”

That steady approach extends to complex, high-profile projects, including hospitality and mixed-use developments as well as retail and industrial projects. The work reflects Waddell’s ability to manage layered timelines, sophisticated counterparties, and long-term obligations.

“Being an investor and real estate owner myself keeps me plugged into what’s happening in the market,” Waddell said. “It helps me bring a more practical, business-minded perspective to client conversations.”

Board certified in commercial real estate law by the Texas Board of Legal Specialization, Waddell is also active in the State Bar of Texas Real Estate, Probate and Trust Law Section and frequently moderates industry panels. He is known internally for mentoring younger attorneys, emphasizing not just legal mechanics but business judgment.

For Waddell, success is not about theatrics. It is about helping projects move forward, problems get solved and land become something, lasting one carefully structured deal at a time.

Shane Waddell PARTNER

TEXAS ICONS

Michael Ablon 2020

Jorge Abreu 2024

Susan Arledge 2020

John Atcheson 2022

Deborah Bauer 2021

Fred Baca 2020

J. Cary Barton 2020

Lucy Billingsley 2020

Cliff Booth 2023

Hans Brindley 2023

Stephanie Burritt 2021

R.L. “Burr” Buckalew 2021

Fred Caldwell 2020

Dougal Cameron 2022

Gary Carr 2024

Bill Cawley 2022

Robert H. Clay 2020

Roberto Contreras 2024

David L. Cook 2020

Paul Coonrod 2024

David Craig 2022

Stan Creech 2021

Sean Dalfen 2023

Lynn Davis 2022

Nick Dhanani 2023

Hachem Domloj 2024

Dr. Mark Dotzour 2021

Lynn Dowdle 2023

Patrick Duffy 2022

Emily Durham 2023

Melanie Edmundson 2020

Gary S. Farmer 2020

Steve Fithian 2023

Andy Flack 2022

Jerry Frey 2023

Daniel Galvan CCIM, SIOR 2023

Rex Glendenning 2024

Lilly Golden 2021

Pam Goodwin 2022

Charles Gordon 2021

Abe S. Goren 2022

Craig Hall 2020

John Hammond 2023

Al Hartman 2021

Lispah Hogan 2022

Simmi Jaggi 2021

Michael Jones 2024

Patton Jones 2022

Dr. Steven Kaufman CPA 2023

Jim Knight 2020

Sarah LanCarte CCIM, SIOR 2023

Eric Lestin 2021

Philip Levy 2024

Philip Levy 2020

Tanya Hart Little 2023

Amy Madison 2020

Conrad Madsen, SIOR 2021

Bobby Magee 2024

Terrence Maiden 2020

Mark Masinter 2024

Nikelle S. Meade 2022

Edna Meyer-Nelson 2020

Sandra McGlothlin 2023

Michael McGrath 2024

Taylor Mitcham 2024

David Mitchell 2023

Bob Mohr 2023

Feras Moussa 2024

Nathaliah Naipaul CCIM 2022

Ed Nwokedi 2021

Brian O’Boyle 2023

Rebecca Olaguibel 2022 Bob Parsley 2020

Tom Pearson SIOR, MBA 2023

Stephen Pheigaru 2023

Jennifer Pierson 2022

Brad Porter 2024

Tanya Ragan 2024

Jeff Read 2020

Alfred (Tom) Rohde 2022

Michael G. Scheurich 2022

Philip Schneidau 2022

Chris Scott 2024

Carolyn Hinchey Shaw 2020

Mike Spears, SIOR, CCIM 2021

E.W. “Ned” Torian 2021

Jay Sears 2023

Cindy Simpson 2023

Jeffrey Swope 2020

Justin Tunnel 2024

Victor Vacek 2024

Timothy Veler 2022

Reed Vesta 2024 Eric Voyle 2024

Christen Vestal 2022

Greg Weaver 2020

Michele Wheeler 2022

Reid Wilson 2020

David Wolff 2023

John Zikos 2023

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.

ROOFING COMPANIES

HIGHUP ROOFING

6620 Isabelle Dr. Austin, TX 78752

P: 512.566.9989

Website: highuproofingllc.com

Key Contact: Nasir Hussain, Owner, highuproofing94@gmail.com

Services Provided: Flat Roof Coating, Roof Repair, Roof Installation, Roof Maintenance, Torch Down Roofing, Commercial

CONSTRUCTION COMPANIES/GENERAL CONTRACTORS

ALSTON CONSTRUCTION COMPANY

HOU: 1300 W. Sam Houston Pkwy S

Suite 225, Houston, TX 77042

DAL: 10440 North Central Expressway

Suite 720, Dallas, TX 75231

Website: alstonco.com

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

P: 512.775.3704

Website: purefytcc.com

Key Contact: Ge'O-Vanna Smith, Owner, mobileivtherapyaustin@gmail.com

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.

Roofing, Residential Roofing.