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Chase Merritt Plans $500M TX Investment

AUSTIN-The California company opens a new office locally to have feet on the ground as it prepares to acquire more assets throughout Texas during 2008.

By Amy Wolff Sorter | Updated on December 06, 2007

AUSTIN-In a move to build more of a local presence, Chase Merritt has opened locally, with plans to invest $500 million in Texas within the next year. The next asset targeted is the 430,000-sf Four Corners, a value-add office project in Houston’s Galleria submarket, which is scheduled for a Q1 2008 closing.

According to Chase Merritt regional VP Max Moss, a presence in Texas made sense, especially given all the activity Chase Merritt generated in the marketplace during the past year and a half. “It was best we had a local office here, so we could get things done quicker and more efficiently,” comments Moss, who joined Chase Merritt from CB Richard Ellis Co.’s Austin office. Moss says he’s charged with getting deals done efficiently and managing local relationships.

The Texas operation currently consists of Moss, who works from space at the Arboretum Plaza at 9442 N. Capital Texas Highway. Moss tells GlobeSt.com that he plans to hire an asset manager as quickly as possible, then see where things go from there as to future personnel additions.

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