FORT WORTH-A robust Texas and southwest retail commercial real estate market, combined with retail development activity in other states, has been the catalyst for Woodmont Co.'s hire of four brokers within the past four months. According to company chairman and CEO Stephen Coslik, more hires are planned – his hope is to have four more on staff by the end of 2014.
In an interview with GlobeSt.com, Coslik says last spring's hire of Gwen MacKenzie as president of brokerage services got the expansion process rolling. "I asked her to enhance and beef up the brokerage group," Coslik explains. "The result is the addition of the four individuals to better serve our clients and their brokerage needs, whether those needs are leasing or investment sales."
The four additions are:
- Jacob Cox; vice president, with specialization in landlord and tenant representation. Cox previously had commercial real estate jobs with Cushman & Wakefield and Colliers International.
- Erik Coslik, who rejoins Woodmont Co. as vice president, in which he specializes in landlord leasing of existing projects and new developments.
- Randy Bell, hired as an associate who specializes in investment property sales.
- Jordon Gronholz, who comes on board as an associates specializing in landlord and tenant representation.
According to Coslik, Woodmont's expansion is directly linked to the Texas and southwest commercial real estate market. "With our regional focus, we've been insulated from the rest of the United States," he says. "Leasing velocity has picked up over the last 12 months, both in the properties we manage for third parties as well as our own properties. Bluntly, we were short of people to serve our clients."
But it isn't only the active southwest CRE sector that has moved Woodmont toward more hires. Coslik points out that the company has developed centers in 33 states. Right now, for example, the company is involved with a 300,000-square-foot ground-up development in Bismark, ND and recently completed the first phase of a 350,000-square-foot outlet mall in the St. Louis area. As a result, "we manage and lease properties in 13 states now," Coslik says.
All of this means that Coslik and MacKenzie are interested in adding four more people to the staff within the next year. Coslik's preference is that two of the new hires have experience, with the other two "just joining the industry."
But along with the hires, will Woodmont expand its operations outside of Fort Worth? Coslik acknowledges he and his staff have been kicking around the idea of such expansion. "We'd be looking at the opportunity of opening additional offices in Texas, but not outside the state," he adds.
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