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Johnson Development has promoted Jacob W. Rice to Vice President and General Manager of its new community in Katy. Rice has been with Johnson Development since May 2022 serving as Senior Development Manager at Cross Creek Ranch before his promotion. He previously worked as Senior Land Development Manager at Toll Brothers and has been involved with three award-winning master-planned communities. Rice holds both a bachelor’s degree and a master’s degree from Texas A&M University.
MetroNational is excited to announce Dennis Hall has joined the executive leadership team as Chief Technology Officer. Dennis will lead the teams responsible for delivering innovative technology solutions that align with the MetroNational mission to Build Better Lives. Dennis has over 30 years of experience working as a leader in the technology industry, most recently for Celebrity Financial, Fiserv, Northern Trust, JPMorgan, and Accenture. Over the Summer, Dennis joined Metro National as a strategic technology advisor, helping to redefine their strategic technology operating model.
NAI Hiffman, one of the nation’s largest independent real estate services companies, and Hiffman National, the firm’s Management Services division, announced the elevation of current president, John Heiberger, to the additional role of chief executive officer, effective Jan. 1, 2024. Heiberger’s appointment will coincide with the launch of a new national Advisory Services group, including an expanded Lender Services business, in response to rapidly changing market conditions and associated client needs. Advisory Services will be housed within Hiffman National.
Current CEO Dave Petersen will transition to chairman of the board of directors, while Dennis Hiffman, a 50-year industry veteran who founded Hiffman in 1981, will transition to founder and chairman emeritus of the board of directors. The executive succession and group launch have been planned for more than two years.
“We are excited about what can go right in these times, despite current challenges in the market,” said Petersen. “We have grown significantly in recent years because of our high-touch, people-driven approach to business, along with our deep market knowledge, investor and lender relationships and data-driven way of maximizing opportunities. We’ll bring that same combination to advisory services, giving us the ability to serve our customers’ needs more broadly and holistically than before.
“Our investor clients are not looking for firms that are pulling back, laying off valued talent or pausing growth initiatives to wait out the market,” said Petersen. “They are telling us they want to work with firms that can lean into these market shifts. We are not running from but running toward 2024 with great optimism, a solid business plan and clients who want our assistance in making the most of a changing market. John is a proven leader whose deep knowledge and extensive relationships will propel our company into its next chapter of growth.”
Advisory Services
Adding Advisory Services to Hiffman’s best-in-class brokerage and management offerings allows the firm to more fully serve its existing client base while becoming an even more attractive alternative to prospective clients, according to Heiberger.
“Since before the Great Financial Crisis, Hiffman has been working with lenders in need of receivership, investment sales, note sales, leasing and management services,” Heiberger said. “With the choppiness of the current environment, we see great opportunities to support our lending clients in the bank, insurance, private lending and servicing industries, all while bringing the same relationship-driven approach that has made Hiffman stand out in brokerage and management services. Our ability to quickly step in on behalf of our clients to stabilize troubled office, retail and industrial assets will allow us to use our core competencies to serve a wider pool of clients.”
In addition to lender services, Advisory Services will include project services, which has become crucial as owners look to update their assets to maintain a competitive edge, and lease administration, responding to client feedback and needs. Bob Assoian, currently head of Hiffman National, will lead the new group as executive managing director, head of Advisory Services. He will be based in Hiffman’s headquarters in Oakbrook Terrace, Illinois.
Promotions
Heiberger joined Hiffman as president in January 2023. Prior to that, he spent more than two decades in senior real estate finance positions including the U.S. head of portfolio management at Canadian Imperial Bank of Commerce (CIBC), chief strategy officer at The PrivateBank, and group senior vice president, commercial real estate for ABN AMRO Bank N.V.
“In just one year with Hiffman, John has steered strategic financial decisions that have improved our bottom line and enhanced our customer-centered approach to business,” Petersen said. “As we look to grow Hiffman, we are confident in the leadership John provides. We have built a great foundation, and now with John at the helm, we’re excited to build on this growth and provide services the market is calling for now.”
Petersen, who joined the firm in 2006 and has been integral to its regional and national expansion, will continue to lead day-to-day activities and remain a shareholder and member of the board. Among other contributions, Petersen helped the firm cultivate relationships with customers, attract and retain talent, and win workplace and industry awards, including the Chicago Tribune’s “Top Workplaces” recognition for 10 consecutive years.
The new leadership structure and company growth goals have led to the hiring of Ann Wallin as chief financial officer. To ensure continuity and the ongoing development of client relationships and business lines, several promotions will take place within the company, leveraging Hiffman’s deep talent pool and philosophy of promoting from within. Carrie Szarzynski will serve as senior managing director, head of management services, while Sarah Cannella has been named managing director, head of strategy and development, a new department for the firm. Current COO, Michael Flynn, will maintain his role within the company.
“Since our firm’s inception, we have navigated numerous market cycles and understand how to help clients capitalize on opportunities, positioning their businesses for success,” Petersen added. “Now is the perfect time to expand the scope of advisory services we offer, empowering our clients to make informed real estate decisions even amid broader economic uncertainty.
Newmark announces that DrinkPAK, a canned beverage manufacturer headquartered in California has closed on two industrial leases totaling 2.9 million square feet in its expansion to Fort Worth, nearly tripling the company’s real estate footprint. These leases represent the largest new industrial occupier leasing commitment completed in a single market across the U.S. this year and are projected to create 1,000 full-time jobs in the area by 2026. Additionally, the city has approved a 10-year tax abatement valued at $21 million for DrinkPAK’s expansion in support of the area’s long-term development.
Newmark Executive Managing Director Patrick DuRoss, SIOR, Vice Chairman John DeGrinis, SIOR, Senior Managing Director Jeff Abraham, SIOR, and Associate Director Javier Galvan, in cooperation with Vice Chairmen Adam Faulk and James Cooksey, Director Garrison Efird and Associate Adam Faulk Jr. represented the tenant in the transaction. Newmark has played a pivotal role in aiding DrinkPAK’s expansion since 2020, securing multiple leases totaling over 1.5 million square feet in the North Los Angeles region.
As part of DrinkPAK’s $452 million investment plan to develop the advanced manufacturing assets for the production, warehousing and distribution of various alcoholic and non-alcoholic beverages, the project is expected to bring significant investment to the local community and reaffirm Fort Worth’s ongoing dedication to fostering the growth of industrial-using jobs. Encompassing approximately 1.5 million and 1.4 million square feet, the sites are located, respectively, at Trammell Crow’s development at 25001 Eagle Parkway and at Carter Park East, which is owned by Crow Holdings Capital, Rob Riner Companies and Clarion Partners.
Founded in 2020, DrinkPAK is the most technologically advanced manufacturer of canned beverages in the world, providing full-service support for procurement, batching, processing, filling, packaging, warehousing and distribution for both large, complex organizations and high-growth emerging brands.
Kim Croley joins The Signorelli Company as Senior Vice President of Marketing. She will lead the development and execution of an innovative and integrated marketing and communications strategy to help drive the company’s business development goals and dynamic expansion opportunities. Croley brings nearly 25 years of commercial real estate marketing and communications experience to the new role, most recently serving as Chief Marketing Officer for commercial real estate firm Transwestern.
NOVO Construction, a leading firm in Central Texas’s commercial construction sector, is proud to announce Roy Womack’s promotion to Vice President, Business Development. This advancement is a testament to Roy’s significant contributions and leadership in business development and customer relations within the dynamic Central Texas market.
Roy’s professional journey spans over 10 years, primarily in the construction and healthcare industries. His expertise in project management, sales, marketing, product development, and business development has been instrumental in NOVO’s growth. His in-depth knowledge of the Austin commercial real estate, design, and construction markets has uniquely positioned him to drive the company’s success.