Equity | ECS Promotes Three Executives

Columbus, OH – August 3, 2021 – Equity | ECS is excited to announce the promotion of three executive team members: Patrick Wathen has been promoted to President of Equity (previously Senior Vice President); Austin Wathen has been promoted to Executive Vice President of Brokerage and Business Development (previously Senior Vice President of Brokerage and Business Development); Dave Jones has been promoted to President of ECS (previously Vice President).

“These executive team changes position us for success in the future,” Steve Wathen, Founder and CEO of Equity | ECS, said.

Equity is a national full-service commercial real estate company that provides complete, professional development, construction, brokerage, property management, asset management, and investment services.

Equity Construction Solutions (also referred to as ECS), provides construction services as part of Equity’s full-service platform, but also goes to market on its own.

Patrick’s initial goals as President are to accelerate growth across divisions and geographies and to continue to grow and develop Equity | ECS’ best-in-class team.

“This year, we’ve seen really exciting growth across the country,” Austin Wathen explained.

In April of 2021, Equity opened its 8th office in Atlanta, Georgia, followed by its 9th office opening in Chicago, IL in May.

With the addition of the Atlanta and Chicago offices, Equity now has locations in five states. Equity’s other seven offices are located in Columbus, OH (Equity’s headquarters), Cincinnati, OH, Dayton, OH, Tampa, FL, Orlando, FL, San Antonio, TX, and Austin, TX.

These expansions are part of Austin Wathen’s initiative to expand Equity’s brokerage services into new markets. Since the beginning of 2021, Equity’s brokerage division has grown by 34%.

“The recent growth is exciting,” Patrick Wathen said. “but, with these executive team changes, we are positioned to scale more aggressively while maintaining exceptional results.”

Darwin Realty/CORFAC International Brokers Industrial Lease in Dallas Area

Darwin Realty/CORFAC International Associate Mandy Lewandowski represented third party logistics provider Betters Trucks Last Mile, LLC in its lease of a 30,826 square foot space in Norcross, GA, and a 40,000 square foot lease in Arlington, TX. The growing trucking company is based in Chicago and expanding across the country. For both transactions, she worked in conjunction with CORFAC International network brokers in out-of-state offices.

“As its name indicates, this company is looking to be the best in last-mile delivery services in many cities throughout the country,” Lewandowski says. “We were able to find ideal spaces for them in two of the fastest-growing industrial markets in the southeast.”

In Arlington, Lewandowski worked with Bradford Commercial Real Estate/CORFAC International’s Joe Santaularia to find a new space for Better Trucks, which leased a 40,000 square foot space at 3701 E. Randol Mill Road, Suite 200. Located in Dallas’s Great Southwest industrial submarket, it has easy access to I-30, SH-360 and TX-161. The building has 3,186 square feet of office space, 28-foot clear height ceilings, and a 200-foot shared truck court. Cushman & Wakefield’s David Eseke and Clay Balch represented the building owner, Prologis.

In Norcross, the tenant sublet 30,826 square feet at 6510 Jimmy Carter Boulevard, Suite D. Better Trucks is subleasing from Northeaster Swimming Pool Distributors, Inc. The building is southeast of Alpharetta and has 3,320 square feet of office, fenced outdoor storage, seven dock doors, one drive-in door, and motion sensor T-5 lighting. The sublessor was represented by King Industrial Realty, Inc./CORFAC International’s Anthony Cicio and Wilson Covington.

Here’s Why The Leverage That We Can’t Track Matters

Despite all we hear about asset classes increasing in value across the board and the unprecedented strength of the U.S. economy, as a real estate entrepreneur and former professional trader, here’s what keeps me up at night: I believe we only know part of the story and that the piece we’re missing — our current inability to account for “invisible” or “hidden” leverage can have significant implications for our country’s economic health.

The hitch? We likely won’t know until it’s too late.

In a nutshell, “leverage” is the term for funds that are borrowed (outright or against an asset) with a goal of using those funds for further financial gain. Applied wisely, leverage has fueled wealth and economic growth for centuries; however, as with any debt, when things go south, borrowers can find themselves underwater, financially speaking. This is simply the reality of our economic system.

The risk is amplified when investors leverage assets that are inherently more difficult to track — such as cryptocurrencies, fine art, collectible cars and wine collections — and that are likely used far more often than our economic data shows. Trickier still, this kind of borrowing masks the multiplier effects of risk and debt, and it tends to be prevalent during times like these when we’re feeling optimistic and asset valuations “seem” to be on a never-ending upward trajectory. Click to read more at www.forbes.com.

First Look: Victory Park’s Newest Luxury Multifamily Garners Sky-High Rents

Creatively fitting a towering multifamily in a neighborhood like Victory Park required deep thought by international developer Hines and their team of architects and designers. The infill development of a former parking lot on the northeast corner of Nowitzki Way and Victory Park Lane, The Victor is now the tallest building in Dallas’ Uptown—and it’s garnering some of the highest rents in the area at about $370 a square foot.

Typically, such a building would be long and rectangular, much like the high-rises you see in downtown Dallas. But such a design would crowd the neighborhood’s urban fabric, Munoz + Albin Principal Jorge Munoz tells me as we walk along Nowitzki Way to tour the site.

Comprised of 344 luxury residences and adjacent to the American Airlines Center, the 40-story tower blends beautifully into the neighborhood. To do so, designers broke the masing of the tower into two distinct shapes to accentuate its verticality: a thin floating glass volume on the east and a masonry volume on the west. Click to read more at www.dmagazine.com.

Construction Begins on 17-Story Fairfield Inn & Suites in Austin

General contractor Arch-Con® Corporation is underway constructing a 17-story Fairfield Inn & Suites located at 76 East Avenue near Downtown Austin and Interstate 35 in the popular Rainey Street District.

“This isn’t your typical Fairfield Inn & Suites,” Arch-Con Senior Vice President Marc MacConnell who leads the company’s Central Texas Region said. Arch-Con, headquartered in Houston, opened an office in Downtown Austin earlier this year to serve the area’s growing market. “This high-rise suite hotel is in a popular, walkable location and will offer views of Downtown Austin, a rooftop terrace and balconies to enjoy the city.”

Developed by RGB Hospitality and designed by MCS Architects, LLC, The Fairfield Inn & Suites will have 126 rooms and suites and feature a large lobby, lounge, dining area and pantry market for grab-and-go conveniences. The top three floors of the hotel will house an outdoor rooftop terrace, fitness room, pool and spa, multi-purpose room, presidential suite and sweeping views of Austin for an added layer of luxury to this Marriott-brand hotel. Several guest rooms also come equipped with outdoor balconies. Exterior lighting will illuminate the hotel and amenity deck. A six-level, 57,930-square-foot concrete parking garage provides parking for its guests.

The building is constructed of cast-in-place concrete on piers with exterior finishes that include a combination of EIFS, metal paneling and glass. The hotel is on a tight site with the Homewood Suites just 11 inches from the project site line and, therefore, Arch-Con has worked with neighbors and our safety team for optimal laydown and safe construction practices.

Arch-Con has built more than a million square feet of hotel rooms for nearly every major hotel brand. This project will rise in height to 192 feet and use a specific tower crane that will increase from 10-stories to 19-stories as the building height progresses. “This type of crane that stacks itself, or rises in height, is simply more economical and practical due to the tight site,” MacConnell said.

A focal point for the high-rise hotel juxtaposing the bungalow bars and restaurants that line Rainey Street is a mature, majestic tree on the property of which the entire project team, as well as an arborist, are taking great care and attention. The tree will frame the entrance of the hotel in keeping with the charm of the area.

The Fairfield Inn & Suites plans to open late 2022, increasing the walkable hotel options for Austin and this vibrant neighborhood.

Massive Business Relocation Jet-Fuels Texas Economy and Real Estate Boom – ‘White Commercial Real Estate’ Positioned to Offer Smart, Stealthy Commercial Realty Angles for Eager Investors

‘Six of the top ten fastest-growing counties in the U.S. are here in the Lone Star State. There is no better time to purchase Texas property than right now…’

HOUSTON, July 29, 2021 /PRNewswire/ — White Commercial Real Estate (WCRE) highlighted its unique role helping investors capitalize on the resurgence of the Texas economy, recently featured in a glowing public assessment by Texas governor, Greg Abbott. As the 9th largest economy in the world by GDP, Texas remains positioned for more economic expansion over the next five years, based on strong employment and income growth forecasts. Much of this is due to a healthy pro-business atmosphere fostered by the state, along with being the home base for 100 of the 1000 largest public and private companies in the U.S. Experienced and exclusive boutique real estate firms like WCRE, with strong roots in the area, are the surest way for property investors to seize upon the recent Texas economic upsurge. Click to read more at www.prnewswire.com