Graycor Construction helps bring Dick’s House of Sport to Houston

Graycor has completed the renovation of two DICK’S House of Sport and Golf Galaxy locations in Baybrook and Katy, Texas. These newly redeveloped retail spaces included interior and exterior updates.

Each newly renovated DICK’S House of Sport store totals about 100,000 square feet. The House of Sport store concept includes in-store experiences such as a climbing wall and multi-sport cage, while Golf Galaxy features golf simulation hitting bays and a putting green. The newly designed stores also feature new clerestory windows, allowing more natural light to filter in. Throughout the process of re-merchandising and reopening the stores, Graycor’s team remained actively involved.

Graycor Construction Company was the general contractor and Fox Design was the project architect for the two projects.

Nick Rowntree hired at One Development Solutions

One Development Solutions, a CRE Development and Project Management services company, is pleased to welcome Nick to the firm. Nick has over 25 years of domestic and international experience in planning and managing large-scale commercial projects. He graduated from UT Austin, is a licensed professional engineer, and has worked for both private and public developers successfully delivering mixed-use, hospitality, high-rise, luxury multi-family, adaptive re-use, interiors, and industrial projects.

Rob Singer hired at Pape-Dawson Engineers, LLC

Pape-Dawson Engineers proudly announces our newest Vice President of Commercial Land Development, Rob Singer. Mr. Singer joins Pape-Dawson with 32 years of civil engineering experience in industrial, commercial, and residential land development, water and wastewater, dam safety, utility infrastructure, roadway, renewable energy, oil and gas, and more. Mr. Singer has joined our Dallas team and leads Commercial Land Development operations in the Metroplex.

CapRock Partners adds Taylor Starnes as VP of Acquisitions for Central U.S. Region

DALLAS (Oct. 18, 2023) – CapRock Partners, a leading Western and Central U.S. industrial real estate investor, developer and asset manager, welcomes Taylor Starnes as Vice President of Acquisitions for the Central Region. He will lead CapRock’s acquisition efforts in Texas with a focus on existing value-add industrial asset acquisitions and ground-up industrial development opportunities. 

“As we begin our strategic portfolio expansion in the Texas industrial real estate market, we wanted an acquisition leader with deep local knowledge of the Texas markets, and Taylor is a talented professional who adds great value to our Texas-based team,” said Jon Pharris, President of CapRock Partners. “Taylor’s experience and integrity align with our values, and we are grateful to have him as we build our portfolio in Texas and the Central U.S.”

In his new role, Starnes will oversee all Texas acquisitions and will be building out an acquisition team that covers all major industrial markets in the state.

“CapRock is a premier institutional investor and developer that is well known in the Western U.S. but is new to the Texas market. Despite the macro-economic climate, demand for industrial warehouse space remains strong in Texas’ key logistics markets and I look forward to bringing my skills, relationships and considerable knowledge to help grow the CapRock portfolio in Texas,” Starnes said.

Prior to CapRock, Starnes was a director and investment sales broker for the Southwestern region at Cushman & Wakefield, where he represented institutional and private clients in the disposition and capitalization of industrial properties and portfolios. During his nearly eight years at Cushman & Wakefield, Taylor transacted more than $5 billion of industrial investment sales as well as facilitated joint-venture equity placements representing more than 65 million square feet across Texas and the U.S.

“The trending market environment and current reset of asset and land values creates an exceptional opportunity for CapRock to expand across the Central Region,” Starnes said. “CapRock is well capitalized across various funds and its outstanding industry reputation is built on its great people and a culture of integrity, leadership and excellence.”

CapRock’s existing portfolio includes more than 17 million square feet of best-in-class industrial real estate assets in the Western and Central U.S. In Texas, Starnes is targeting value-add industrial assets and land for industrial development in Dallas-Fort Worth, Houston, Austin, San Antonio, El Paso and Laredo submarkets.

Partners Real Estate hires Matthew Steitz as Chief Financial Officer

Houston, TX, October 17, 2023 – Partners Real Estate (“Partners”), one of the largest independent commercial real estate firms in Texas, today announced it has hired Matthew Steitz, MBA, as Chief Financial Officer, a new role at the firm. Mr. Steitz will be responsible for driving Partners’ financial strategy, managing financial operations, and providing strategic financial guidance that complements the company’s growth.

“Matt brings an exceptional depth of financial expertise and a proven track record of strategic leadership to our team at Partners Real Estate,” said Jon Silberman, Managing Partner. “His extensive experience in building and optimizing financial operations, coupled with his ability to drive growth through sound financial strategies, make him the ideal CFO for our organization. We are excited to welcome Matt to the firm.”

Throughout his career, Mr. Steitz has demonstrated a proven ability to formulate revenue-generating strategies in competitive markets. Prior to joining Partners, he spent 6 years at Conquest Completion Services, LLC, where he served as Vice President of Finance (Deputy CFO), Director of Finance and Treasurer, and FP&A and Corporate Development roles. At Conquest, he was instrumental in multiple credit restructurings and capital raises that deleveraged the balance sheet and turned around operations for eventual exit.

Mr. Steitz’s career highlights include managing over ten asset divestitures that resulted in $12 million in proceeds, creating a unit economics model that evaluated ROI, payback period, and IRR, resulting in $5 million in revenue in the first year and $7 million in the second year. Additionally, Mr. Steitz spearheaded a complex 13-week cash flow model that effectively preserved liquidity through COVID-19 and subsequent restructuring, showcasing his ability to adapt and strategize during challenging times.

Mr. Steitz holds a Master of Business Administration degree with a Finance concentration from Rice University, Jones Graduate School of Business, and a Bachelor of Arts in History from the University of Georgia.

Partners recently celebrated its first anniversary as Partners Real Estate, and during that time the company hasn’t skipped a beat. In addition to continuing to attract the top talent in the commercial real estate industry—underscored by CRE expert Stan Nowak joining the company in Austin—and ranking among the top deal-makers in Texas, Partners placed among the Business Journal’s top 25 brokerages in each of the four cities in which the firm operates, as well as on all four Best Places to Work designations.

Remedy Medical Properties and Kayne Anderson Real Estate acquire specialty surgical hospital in Dallas-Fort Worth

Joint venture partners Remedy Medical Properties and Kayne Anderson Real Estate announced the acquisition of the 161,264-square-foot Baylor Scott & White Frisco Medical Center in the Dallas-Fort Worth suburb of Frisco. 

The two-story, 68-bed specialty hospital, located at 5601 Warren Parkway, sits on 7.4 acres and is 100% occupied by Texas Health Ventures Group, a joint venture between Baylor Scott & White (BSW), the largest non-profit health system in Texas and one of the largest in the country, and United Surgical Partners International (USPI), the nation’s largest ambulatory surgery platform. 

BSW Frisco Medical Center is a world class surgical center consistently ranked among the best in the country, featuring 11 operating rooms including two robotic surgery rooms. The hospital’s services include orthopedics, OB/GYN, labor delivery/NICU, urology, spine, radiology, and general surgery, as well as an emergency department and onsite pharmacy. The facility boasts a suite of resort-like amenities for both patients and guests, such as complimentary valet parking, private rooms, and more. Included in the purchase is the adjacent two-story parking garage.

Frisco is the fastest-growing large city in the country over the past decade, according to the U.S. Census, with a compound annual growth rate (CAGR) of 10.9%, compared to a median CAGR of 0.9% nationwide. The city’s average household income is $181,000, which is 74% higher than the national average. 

The campus location is ideal, with easy access to two of North Texas’s primary thoroughfares, the Dallas North Tollway and Sam Rayburn Tollway and within 10 miles of six major hospitals, including Children’s Medical Center Plano and Baylor Scott & White Centennial Hospital. It’s also just one mile from The Star, the headquarters and training facility of the Dallas Cowboys.