Author: Mia Goulart

Erik Hill joins Partner Valuation Advisors healthcare and life science practice

Posted on by Mia Goulart

Partner Valuation Advisors, a national commercial real estate valuation advisory firm, appointed Erik Hill, MAI, CCIM, MRICS, as managing director in Dallas. Hill will deliver valuation and advisory services for healthcare and life sciences properties nationwide, as well as be responsible for overseeing the growth in Dallas.  

Since launching in September 2022, Partner Valuation Advisors has completed more than 700 valuations across 40 states with an aggregate commercial real estate value exceeding $20 billion. The Chicago-based, technology-forward firm has grown to more than 50 employees in 20-plus markets nationally, making it one of the fastest growing commercial real estate valuation advisory companies in the U.S. Partner Valuation Advisors serves investors, lenders, investment funds, and real estate occupiers.  

Hill brings nearly 17 years of commercial real estate experience. In his previous role as managing director and national sector lead of healthcare and life science at JLL Valuation Advisory, Hill focused on providing valuations for properties in the healthcare and life science sectors. That included hospitals, medical office buildings, surgery centers, imaging centers, behavioral hospitals, substance abuse treatment centers, labs, GMP/cGMP facilities and others. The array of valuation and advisory services he delivers includes real property and going-concern appraisals, fair market rent studies for lease negotiation and Stark compliance, purchase price allocations for FASB ASC 805 and ASC 820 compliance, and other consulting services.  

Prior to joining JLL in 2016, Hill served on the National Healthcare Practice at Integra Realty Resources in Dallas. Prior to his career in appraisal, Hill spent 10 years as a commercial real estate broker with Coldwell Banker Commercial in Waco, Texas, where he was involved in sales, acquisitions and leasing of retail, office, industrial and multifamily properties. 

Hill holds a MAI designation from the Appraisal Institute, earned a CCIM designation from the CCIM Institute, and is a member of the Royal Institution of Chartered Surveyors (RICS). He earned a broker license from the Texas Real Estate Commission, is a member of the North Texas Chapter of the Appraisal Institute and an is an affiliate member of the National Association of Realtors. Hill received a bachelor’s degree in business administration from Baylor University and an MBA from Tarleton State University.

Uptown Dallas’ Chateau Plaza gets new name as multi-million-dollar makeover revealed

Posted on by Mia Goulart

An 18-story Uptown Dallas tower has dropped its moniker of more than 30 years as owners begin a multi-million-dollar capital improvement project.

Chateau Plaza will now be called 2515 McKinney to highlight the property’s opportune address in the increasingly popular submarket known for its diverse mix of residential, retail and office spaces. The property is owned by institutional investors advised by J.P. Morgan Global Alternatives.

J.P. Morgan Global Alternatives worked with Stream Realty Partners to reimagine the building’s identity as a complete renovation starts on the lobby, tenant lounge, public corridors and boardroom. A fitness center and outdoor patio also will be added to enhance the tenant experience and attract companies seeking employee-centric office spaces in buildings with modern amenities. Dallas-based Entos Design has been retained to oversee the design and construction, which is expected to wrap up in the fall.

Stream, a national commercial real estate firm offering an integrated platform of services, is headquartered in Dallas and provides leasing and property management services at 2515 McKinney. Managing Director Rhett Miller and Associate Patrick Cruz serve as leasing agents. Blair Miller is the Property Manager.

Chateau Plaza was built in 1985 and last renovated in 2011. The building, with 178,970 square feet, sits on the corner of McKinney Avenue and Fairmont Street, near a host of fast-casual restaurants and popular retail shops that tenants will appreciate. Interstate 35 East, U.S. 75 (Central Expressway), and Woodall Rogers Freeway (Texas Spur 366) are all easily accessible for commuters.

2515 McKinney is home to the privately held, state-chartered financial institution Nexbank; national healthcare strategy and transaction advisory firm VMG Health; and national business advisory company Riveron. The building offers suites from around 1,500 square feet to full floors–including the 13th floor available in November 2023 and the 10th floor available in June 2024–at more than 18,000 square feet. 

Partners Real Estate lands industry veteran to oversee Central Texas

Posted on by Mia Goulart

Partners Real Estate, formerly known as NAI Partners, has hired commercial real estate industry veteran Steve Druth as managing director of its Austin and San Antonio offices.

In his new role, Druth will lead the day-to-day operations of the company’s Central Texas offices, and focus on growing revenue, supporting the sales team, recruiting, providing office leadership and coordinating efforts with other offices and teams. Druth will report directly to Scott Lunine.

Prior to joining Partners, Druth accumulated 35 years of experience in commercial real estate brokerage, management and sales training. A previous agent at Marcus & Millichap in both Manhattan and Miami, Druth was also president and CEO of Druth Commercial Real Estate, focusing on investment sales and leasing. In that role, he became known for his leasing/marketing expertise and the high occupancy levels in his properties.

Most recently, Mr. Druth worked at Franklin Street, where he is based out of the firm’s Tampa headquarters. In addition to his role as a broker specializing in commercial investment sales, he was an accomplished commercial real estate coach, overseeing the development of 50 high-performing agents. In this role, he focused on helping the full-service commercial real estate firm grow throughout top metropolitan markets with the best professionals performing across all lines of business.

Jason Johnson appointed CEO of MetroNational

Posted on by Mia Goulart

MetroNational, the Houston-based privately-held real estate investment, development, and management company, has announced that, effective April 1, 2023, Jason Johnson has been promoted to CEO.

MetroNational, founded by Jason’s grandfather in 1954, owns and manages more than 10 million square feet of commercial real estate properties primarily located in Greater Houston. MetroNational’s largest development is the 300-acre mixed-used development Memorial City located in West Houston.

Jason joined the family business in 2013 and has served as the company’s president and vice chairman since 2015. In addition to serving as CEO he will remain in his role as president. He assumes the role of CEO from his father Roy Johnson who will now serve as executive chairman.

Partners Real Estate arranges 19,755-square-foot lease in Houston

Posted on by Mia Goulart

Partners Real Estate recently arranged a 19,755-square-foot lease located at 8430 N. Sam Houston Parkway W in Houston.

Partners’ Travis Land represented the landlord, 8430 North Belt, LLC, in the transaction. Will Austin with Bridge Commercial Real Estate represented Tenant Ocean Edge Services.

Travis Land will be marketing the building next door at 8440 N Sam Houston Pkwy W, which will be available soon.