HOUSTON-Transwestern has hired Ken Page and his two-person team to lead the firm’s local office investment sales efforts. Page, a 27-year industry veteran, is known for his high-profile dispositions including the largest office sale in the city’s history, Williams Tower.
Page and his team, which consists of Scott Myers and Rachel Glass, joined Transwestern from Grubb & Ellis Co.’s local office. The trio has worked together for three years, during which time they closed more than $1 billion in deals include including the $275 million BMC Campus. Page and Myers have worked together for more than eight years, first at Cushman & Wakefield of Texas Inc.
Page served as an executive vice president at Grubb & Ellis, while Myers held the position of vice president with the firm. Glass served as marketing assistant with Grubb & Ellis and will be responsible for the development and production of marketing collateral, market research, and coordination of web-based marketing activities during the transaction process.
Page says GlobeSt.com that Transwestern’s stability was a key part of the team’s decision to join the firm. Moreover, the team was excited to work with a firm that has such deep leasing and management relationships with local owners.
“We can work with the leasing and management teams to put buildings in the best position for sale,” Page explains. “We will be able to help structure buildings in terms of leasing and operations. The investment sales perspective completes the asset management picture.”
Page tells GlobeSt.com that the team’s first order of business is to work with Transwestern’s local leasing and management teams to begin leveraging relationships across the state. “Our goal is to increase Transwestern’s market share in the investment sales business,” he says.
Page believes Houston’s strong real estate fundamentals and robust job growth provides fertile ground for investment sales. “For the core office assets, we’re seeing prices getting bid up,” he notes. “What we’re not seeing yet – but I think we will soon – is activity in the class B office segment. Investors looking for core assets are starting to have a hard time competing, and I think they will start to move down into B assets. There’s a lot of opportunity there for our team and for investors.”
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