2018 Annual



2018 Annual



NAI Partners is the 5th-largest Houston-Area Commercial Real Estate Brokerage,

the #1 Mover of Square Feet among leasing and sales brokerages, the largest

independently owned and among the largest owner-operated commercial real

estate firms in Houston, Texas, per The Houston Business Journal. NAI Partners

was founded and is headquartered in Houston and has offices in San Antonio

and Austin; offers the geographic expertise to complete real estate transactions

throughout the state of Texas; and can leverage the power of the NAI Global network

to arrange deals in any location throughout the world. NAI Partners employs more

than 100 real estate professionals, and arranges more transactions than any of its

competitors, completing over 500 commercial lease and sale arrangements every

year. NAI Partners is a full-service firm offering client leasing and sales solutions in

the areas of office tenant representation, office landlord representation, industrial

tenant representation, industrial landlord representation, landlord services, retail

services, property management, investment sales, an investment fund, and

project management, among other services. The company has been named a

Best Place to Work by the Houston Chronicle, Houston Business Journal and

Austin Business Journal, and is among the University of Houston’s Cougar 100

Fastest-Growing Companies.

01 NAI Partners

2018 Year in Review

08 Teams

09 Office Tenant Representation

11 Industrial Services

13 Retail Services

15 Landlord Services

17 Investment Fund

20 Top Producers, New Hires

& Promotions

30 Individual & Company Accolades

50 Philanthropy

54 Market Trends & Highlights


Roundtable interview with Jon Silberman, Managing Partner

of NAI Partners; Dan Boyles, Partner and Head of the company’s

Office Tenant Rep Group; John Ferruzzo, Partner and Head

of the company’s Industrial Services Group; Jim Tainter, Partner

and Managing Director of the Landlord Services Division;

and Jason Gaines, Senior Vice President of Retail Services.

NAI Partners 2018

Year in Review


Jon Silberman: We had a great year

in 2018—almost certainly the best in

company history by most measures.

From a revenue perspective we’re

going to finish at $26-27 million—a

significantly record-breaking year.

Ferruzzo and industrial are having

a monster year, which is a big part

of the story. Property Management

under Jim has become a significant

contributor to the company’s bottom

line. Austin and San Antonio have

grown as well—all the things we set

the groundwork for have begun to

pay off. The Investment Fund has

really grown—it drives everything

else—property management, office

leasing, retail leasing—that recurring

revenue is critical.

Jim Tainter: In 2018, Property

Management and OPL really found

their traction. It has taken us a

couple of years to get property

services up and running, but as

John Ferruzzo told me, “you just

have to keep showing up. You have

to keep hearing ‘no,’ and trying to

get to where you want to go, and

then at some point somebody says

yes, and recognizes that you’re able

to compete with people they didn’t

think you could compete with.”

And this was the year that that

happened. In 2017 we had to figure

out what to do with OPL, which

went from zero to two teams of

hungry and energetic brokers who

have done a great job of getting

the messaging about the Landlord

Services platform out there. Since

the end of last year we’ve tripled

the size of our listings on the OPL

side, and Property Management

has gone from under 2 million to

5.5 million sq. ft. So people are now

seeing us differently—we’re a player

where we weren’t before. That’s the

positive. The challenge is that we’re

still not quite where I want us to be

and we still have a long way to go,

but 2018 was a year I thought we

gained traction.

The Fund work that we’re doing is

important both strategically as well

as from a property management

and leasing standpoint. Execution


is critical for the Fund to continue

to build their case for the next

Fund, and so they’re in a similar

place to where Landlord Services

is on the growth curve, so I’ve

been very sensitive to the fact

that we need to continue support

them and help them execute so

the properties get bigger and the

clients get better.

Another deal I was notably excited

about is that a client we’ve been

working on in Houston has asked us

to open an office in Tampa, Florida

where we will oversee 2 million sq.

ft. This is particularly exciting as

they are an institutional client that

also has about 2.5 million sq. ft.

of office and industrial product in

Houston as well.

Dan Boyles: Because of the

continued recovery in the office

market, the areas I’m most excited

about are the other areas of our

brokerage and the Fund. As Jon

said, it’s exciting to see the seeds

really grow this year, and as a result

of that it’s also been exciting to

see those leaders of those groups

join the club in terms of their

becoming partners in the holding

company. We’ll keep grinding it out

on the office brokerage side, but

seeing those other segments of

our company achieve success has

been very satisfying.

“All the things we

set the groundwork

for have begun to

pay off.”

-Jon Silberman




Silberman: We have real momentum

in San Antonio. We have a company

culture that is really strong, and

our sales professionals there have

seen their books of business grow

dramatically in the three years that

office has been open. We’ve also

seen continued strong growth in

Austin as well, and I’m excited to

see both of these offices continue

to evolve into powerhouses in their

own right.

John Ferruzzo: 2017 had set a

benchmark as the best year in the

Industrial Group’s history, and we

wound up exceeding it in 2018. We

had the top producer and seven of

the company’s top 10 producers. I

never thought I’d see our Industrial

Group as the top-producing service

line in the company two years in a

row. Everything’s been great but

I’m also a realist and I tell the guys

“don’t believe your press clippings,”

because what goes up must go

down. We’re in a hot market—

everyone’s encouraged that oil

prices are low and the industrial

market is still great.

There’s a reason why we’re making

the fees we’re making—land prices

are 3-4 times what they were years

ago; building sales are up; we’re

doing larger deals; spec buildings

“It’s going to

get harder and

harder with more

competition than

ever before, but it

makes it that much

more satisfying to

have the recent run

of success we’ve


-John Ferruzzo

are being constructed larger than

ever. I think the Houston industrial

market has changed for good. I

don’t think we’ll go back to the way

it was a few years ago, but I also

know that there’s a likelihood that it

will slow down a little.

We still have market share we can

gain. I’m excited about what’s

coming up in the future. It’s going

to get harder and harder with more

competition than ever before, but it

makes it that much more satisfying

to have the recent run of success

we’ve experienced.

What excites me more than anything

is that we’ve had at least 30 sixfigure

commissions, which is another

record for the Industrial group. If I had

to call out one deal, the 675,000-sq.-

ft. sale of the Oakmont spec

warehouse is pretty eye-opening and

not something you see every day.

Continuing to gain market share;

and growing in multi-tenant project

leasing on the industrial side is an

area where we can really collaborate

with Jim and his team and gain more


Jason Gaines: Retail shopping

centers in Houston have had

another strong, stable year of sub

5% vacancy, low cap yield, and

subdued new construction. This

has been great for property owners,

a struggle for fee brokers as there

has just not been the vacancy

or even tenant migration that

brokerage craves. There has been a

prolonged run of significant average

rent growth, particularly in any of

the higher demand sub-markets.

Over this year, however, there has

been the start of a run on retailers

in operational/business trouble that

will likely be the lead story over the

next two years, particularly should

the public markets correct or dip.

Completing the business cycle is

always the best/most energizing

business. This means taking on

the leasing of a property in need

of attention, getting it full, and

then being the exit sale broker. It’s

a stream of small fees to keep the

lights on, then ultimately a big sale

fee to make it worth the effort.

If you had to use one word to sell

a prospective client on why they

should select NAI Partners over

the competition, what would it be?

Silberman: Partnership. It’s stability,

along with depth of experience and

capability. The people working on

your transactions are the senior

people at the company. We’re not

being handed off to junior brokers—

something the largest firms do, but

we don’t. That’s because we’re a


true professional partnership and

not a publicly traded company.

Tainter: Customer-centric. We don’t

force-feed our clients a cookiecutter

program, we truly listen to

what the client needs and wants and

we tailor-make our services so that

what they need is what they get.

Boyles: Dedicated. You walk around

this office and talk to people and

how they handle their business and

they are just dedicated to doing the

best job they can for their client. It’s

just not typical in the industry—all of

our people like that, and it’s a tribute

to our culture.

Ferruzzo: Aggressiveness: Whether

you’re on the listing side or buyer/

tenant rep side, I think being

aggressive is among the most

important ways in which we can

differentiate ourselves.

As far as why a recruit should join

us—that’s easy. It’s culture. Not

only from a bonding standpoint—

everyone’s pretty tight here—

but it’s also about informationsharing

and being willing to

work with each other. When you

walk down the hall, people are

willing to give information and not

withhold it. Everyone’s looking

out for everyone’s best interests.

Gaines: Agreed on culture.

Could you have imagined in 1999-

2000 that the company would get

to where it is today?

Boyles: I wouldn’t say I couldn’t

have imagined it, but we have this

strategic planning meetings every

year where Jon throws out these

huge ideas and numbers and my

first thought is usually “no way, we’re

not going to be able to do that” and

in many cases we have. So yeah, I

guess it would be hard to imagine.

Ferruzzo: I’m actually extremely

surprised. Not that we’ve accomplished




“Our culture’s

great, now we just

need a working

environment that

matches the size

and enthusiasm

of the company.”

-Dan Boyles

it, because there’s been a ton of

hard work, especially on the part of

Silberman and the partners, but the

way we were able to rebound from

both the 2009 financial crisis as

well as the oil crash of 2014 is what

shocks me more than anything is

how fast we are at this stage after

some setbacks with the national

and local economies.

Silberman: I have a vivid imagination,

so imagining it wasn’t necessarily a

problem as much as it seemed to

take us longer than I might have

expected. It took us a lot of years

to make a lot of mistakes and learn

a lot of things and we’ll make plenty

more, but as we continue to get our

structure organized right, the pieces

have fallen into place in a more

cohesive and rigorous way.

To open our Austin and San Antonio

offices as well as the Investment

Fund took a significant amount of

capital, and you have to be a certain

size to even be able to do that in the

first place.

To open our Austin and San Antonio

offices as well as the Investment

Fund took a significant amount of

capital, and you have to be a certain

size to even be able to do that in the

first place.

So I could certainly imagine it, but

the execution piece is where you

have to be patient. It’s nice to see

the growth, but I really truly believe

we’re just getting started on what

we can do.


NAI Partners’

2019 & beyond

Silberman: We’re working on our

next strategic plan, with a push

toward becoming a company that

does $50 million in revenue. We’re

also looking to add a valuation &

advisory line of business sometime in

2019. We know we have to continue

to grow by planting new seeds and

continuing to grow the seeds we’ve

already planted.

Gaines: For me personally, work

harder at working smarter to

maximize my productive hours. Time

management is the chief burden of

high operating people.

Ferruzzo: We’ll finally be moving into

new office space in Houston. The

staff is excited about having things

like a bigger kitchen and more open


Boyles: Our culture’s great, now we

just need a working environment that

matches the size and enthusiasm of

the company.








Office Tenant


Year in and year out, NAI Partners’ Office Tenant Rep Group is among the most active in Houston,

Austin and San Antonio, routinely closing more sq. ft. of office lease transactions than every

other firm. 2018 was no different, as the group continued to shine in spite of challenging market

conditions locally.

Our Office Tenant Rep experts provide a full spectrum of transaction expertise, scaling our

services to fit our clients’ needs. Our unique consultative process offers security and direction

from local experts on the ground, who can deftly navigate the details of comparable properties,

market data, rental rate negotiation and TI options—finding you the best deal possible.



Notable Transactions


NAI Partners arranges 47,000-sq.-ft. sublease for FairfieldNodal

at Air Liquide Center

NAI Partners’ Jon Silberman, John Ferruzzo and Nick Peterson arranged a

46,720-sq.-ft. sublease for FairfieldNodal at Air Liquide Center at 9811 Katy

Freeway in Memorial City.

“As FairfieldNodal has continued to grow in Sugar Land, an expansion to

Houston became inevitable, and we’re pleased to have been able to partner

with them and secure prime Class A space in one of the city’s fastestgrowing

submarkets,” Silberman said. “This deal also underscores the

positive indicators we’ve been seeing in the office market, as sublease space

continues to come off the table. Our recently released NAI Partners Sublease

Index—a significant indicator of the health of the marketplace—is down to

15%, continuing a thinning out of available sublease space in Houston that

began in Q3 2016.”


NAI Partners Austin arranges office lease for SPEER at 1201

Spyglass Rd.

NAI Partners Austin arranged the 4,284-sq.-ft office lease for SPEER at 1201

Spyglass Rd. SPEER’s mission is to accelerate the adoption of advanced

building systems and energy efficient products and services in the southern

United States.

NAI Partners’ David Dawkins represented the tenant in the transaction. The

landlord was represented by Stephen Pannes with ECR.

San Antonio

NAI Partners San Antonio arranges office lease for Westover Hills

Birth Center at 9410 Dugas Dr.

NAI Partners San Antonio arranged a 3,965-sq.-ft. office lease for Westover

Hills Birth Center PLLC at 9410 Dugas Drive in San Antonio, Texas.

NAI Partners’ Joe DeCola represented the tenant Westover Hills Birth Center

PLLC in the transaction at 9410 Dugas Drive, while Parker LeBarge and

David Ballard represented the landlord. Westover Hills Birth Center PLLC

specializes in taking a natural approach to child birth.



Industrial Services

Our Industrial Group has always been one of the most productive in each of our cities, but in

2018 they outdid themselves, not only delivering the best collective revenue year ever for the

NAI Partners industrial team, but also outproducing the office group for the first time in company

history. With that, it was no surprise that 7 of NAI Partners’ Top 10 producing brokers for 2018

hailed from the industrial side of the business.

NAI Partners’ Industrial Group’s reputation is built on our ability to deliver premier solutions for

industrial companies locally, nationally and globally, exceeding expectations each and every time.

Whether the need is 3,000 or 3 million sq. ft., we provide all of our clients the same level of attention.

We focus on the details of your industrial transaction, so you can focus on your core business.



Notable Transactions


NAI Partners sells 700,000-sq.-ft. distribution center in one of the largest

industrial transactions of the year

In one of the largest industrial transactions in all of Houston in 2018, Miamibased

Southern Glazer’s Wine and Spirits purchased a 673,785-sq.-ft.

distribution facility in Katy, which was developed by Atlanta-based Oakmont

Industrial Group and broke ground in Houston-based Parkside Capital’s

West Ten Business Park in September 2017.

John Simons and Holden Rushing of NAI Partners’ Industrial Group

represented Oakmont in the deal. Southern Glazer’s is the largest distributor

of wine and spirits in North America, according to Forbes, and is the 17th

largest private company in the U.S. The company completed roughly $16.5

billion in sales in 2016, according to Forbes.


NAI Partners Austin arranges industrial sublease for Porter at 4301 Willow

Springs Road

NAI Partners Austin arranged an 11,200-sq.-ft. industrial sublease at 4301

Willow Springs Road in Austin, Texas. NAI Partners’ Troy Martin represented

The Porter Company in the Austin industrial sublease. The subtenant that

leased The Porter Company’s space is Accurate Leak and Line.

For nearly 70 years, The Porter Company has maintained its reputation as

one of Texas’ premier, multi-faceted mechanical contractors. The company’s

dedicated, experienced, and highly motivated team provides full-service

mechanical, HVAC, and specialty piping systems.

San Antonio

NAI Partners San Antonio arranges sale of 30,000-sq.-ft. industrial property

along with 20 acres

NAI Partners San Antonio arranged the sale of a 30,000-sq.-ft. commercial

property along with 20 acres at 11820 W IH-10 in Marion, Texas. NAI

Partners’ Joshua Swank and Brett Lum represented the seller His Majesty

Saint Adams in the transaction.

“The new ownership was aggressive in their pursuit of the property,” said

Mr. Swank. “We are excited to see the plans that come to fruition while they

work with the city of Cibobo to build additional commercial and industrial

properties on the site.”



Retail Services

The NAI Partners Retail Services team prides itself on outworking and outhustling its competitive

set in every facet of business. In aggregate, the group has overseen the successful lease-up of

more than 150 retail properties totaling more than 3 million sq. ft. of space, and have managed

more than 25 investment grade properties totaling more than 3.8 million sq. ft.

NAI Partners’ Retail Services team works with a wide range of retail tenants, from restaurants, to fast

food franchises, clothiers, lifestyle companies, boutiques, and many more. Our retail professionals

are natives of their cities, and know the availabilities inside and out—as well as spaces yet to come

to market—and will ensure you find the perfect location for your retail enterprise.



Notable Transactions


NAI Partners Retail team signs Texadelphia to third Houston-area location

since its 2017 re-entry

On the heels of returning the franchise to Houston the year prior, NAI Partners

recently arranged a 3,400-sq.-ft. retail lease for Texadelphia Restaurant at

1228 Seawall Blvd. in Galveston, Texas.

NAI Partners’ Jason Gaines and Griff Bandy represented the tenant, APEX

Galveston, LP in the transaction. The location will be the 3rd location in the

Houston area since the brand re-entered the market in 2017, with additional

locations to come. Texadelphia is a 38-year-old franchise restaurant company,

founded in Austin, Texas and currently based in Dallas, Texas.


NAI Partners Austin arranges sale of 79,000-sq.-ft. retail property at 405

E. Braker

NAI Partners Austin arranged the sale of the 78,753-sq.-ft. retail property at 405

E. Braker Ln. in Austin, Texas. The building is currently occupied by a Dollar

General store.


NAI Partners arranges lease for popular math & reading center Kumon in

League City

NAI Partners Retail Services team arranged a 2,045-sq.-ft. retail lease for

Kumon at 2211-2251 Grand Avenue in League City, Texas.

NAI Partners’ Laura Diggs and Jason Gaines represented the landlord Irapak

Investments LLC in the transaction.



Landlord Services

NAI Partners’ Landlord Services Division platform has expanded at a greater clip than perhaps

any other component of the company, experiencing more than 300% growth in both its property

management and project leasing portfolios during the past two years. As a result, our Landlord

Services Division platform is now providing management and leasing to nearly 15 million sq. ft.

of commercial real estate properties in Houston, Austin and San Antonio.

Our Landlord Services value proposition in both the private investment and public company

environments is our ability to offer our services from an owner’s perspective in all the product

types and life cycles of commercial real estate. Always customer-centric; we listen to our owners’

needs and objectives, and then utilizing a tactical marketing plan and industry leading research

analytics we create a cohesive and proactive approach to leasing and managing space that

provides the most value for your property, ensuring success for your CRE investments.



Notable Transactions


First Service Credit Union selects NAI Partners to lease and manage its

Energy Corridor office building at 16430 Park Ten Place

First Service Credit Union selected NAI Partners’ Landlord Services Division

to exclusively lease and manage its office building located at 16430 Park Ten

Place in the West Houston Energy Corridor. Zach Leger and Jacob Aldridge

of NAI Partners’ Office Project Leasing team are handling the leasing duties.

“We’re very excited to be working with First Service Credit Union. Their

commitment, through this extensive redevelopment plan of 16430 Park

Ten Place, is exemplary and something that is really needed in the Park

Ten submarket. From a marketing perspective, the immediate access and

visibility to Interstate 10 coupled with the close proximity to popular area

amenities including City Center, Top Golf, and numerous restaurants, really

makes 16430 Park Ten Place well positioned,” said Jim Tainter, Managing

Director of NAI Partners’ Landlord Services Division.


NAI Partners selected to lease and manage two office buildings at 2550

North Loop West and 3131 West Alabama

NAI Partners’ Landlord Services division was named the exclusive leasing agent

and property manager of 2550 North Loop West and 3131 West Alabama, two

office buildings totaling approximately 225,000 sq. ft.

Andy Parrish and Lesley Rice of NAI Partners’ Office Project Leasing team are

handling the leasing duties for both buildings.

San Antonio

NAI Partners Landlord Services Division enhances its San Antonio presence

with Kotel Investments retail portfolio property management assignment

Kotel Investments, Inc. named NAI Partners’ Landlord Services Division as

manager of its San Antonio retail portfolio. As a result, NAI Partners has

brought veteran San Antonio-based Property Manager, Cindy James, on to

oversee the six-property, 205,000-sq.-ft. portfolio—a significant San Antonio

property management assignment that includes 1546 Babcock and 12066

Starcrest Drive, among other retail centers.



Investment Fund

The NAI Investment Fund was organized by NAI Partners to invest in office, industrial and retail

multi-tenant properties in Texas that can be acquired at prices substantially below replacement

cost, are currently generating (or with repositioning or additional leasing at market rental rates

would generate) positive cash flow after debt service payments, and offer the prospect of

significant cash flow and appreciation over a projected holding term of three to five years.

The NAI Investment Fund platform stays competitive through flexibility and efficient decisionmaking,

allowing it to add significant value in a relatively expedient timeframe.



Notable Transactions


NAI Investment Fund sells Retail Center on I-45

The NAI Investment Fund divested the 10,433-sq.-ft. retail building located at

19752 North Freeway, one of the two buildings located at Spring Park Village

purchased by NAI last October. The property was leased to a strong roster of

local and national tenants, including Starbucks, AT&T, and OneMain Financial.

Andrew Pappas and Adam Hawkins of NAI Investment Fund worked with Todd

Carlson of Hunington Properties to close the deal and partnered with Peyton

Jones at Green Bank to close the refinancing of the second half of the property

at Spring Park Village.

“Our platform stays competitive through flexibility and efficient decisionmaking,

allowing us to add significant value in a relatively expedient timeframe,”

said Andrew Pappas, Senior Vice President of NAI Investment Fund. “ With

the efforts of NAI’s Retail Services team, we negotiated the building’s critical

renewals and executed our business strategy less than one year into the hold

period, resulting in a successful exit for our investors.


NAI Investment Fund II buys Royal Montreal Plaza

NAI Partners’ Investment Fund purchased Royal Montreal Plaza, a 40,300-sq.-

ft. neighborhood retail center located in Katy, Texas. NAI plans to significantly

improve the asset’s aesthetics and enhance the overall tenant experience

through its hands-on management approach.

“This property pairs nicely with Fund II’s overall portfolio and we are confident

in our ability to generate short and long-term value for our investors. With

a strong roster of service-oriented tenants, Royal Montreal Plaza provides

our investors insulation to near-term ecommerce rollover risk.” said Andrew

Pappas, Senior Vice President of NAI Investment Fund.

San Antonio

NAI Investment Fund II acquires Wells Fargo Business Park

NAI Partners’ Investment Fund II added Wells Fargo Business Park, a

104,212-sq.-ft. two-building, one-story flex office park in north Houston,

adjacent to I-45, to its portfolio. has completed six transactions in the past

12 months, with two more expected before the close of 2018. NAI plans on

making significant capital improvements to the asset.





Top Producers,

New Hires &























& Company




Four NAI Partners brokers

named NAI Global 2017

Top Producers

Congratulations to NAI Partners’ John Ferruzzo, John

Simons and Travis Land of the company’s Industrial

Services group, and Dan Boyles of the firm’s Office

Tenant Rep team, on being recognized among NAI

Global’s 2017 Top Producers!

NAI Partners Austin’s

David Dawkins & Tim Laine

awarded SIOR industrial

scholarships by NAI Global

Congratulations to our own David Dawkins and Tim Laine

on receiving SIOR industrial scholarships from NAI Global!

David and Tim will use their SIOR scholarships at the

upcoming SIOR Spring World Conference in Austin—

where the NAI Partners Industrial team will also

prominently feature—and will have SIOR Ambassadors

guiding them through the conference and taking them to

a special reception.

Jon Silberman featured

guest on debut episode of

Apto’s “Common Area with

Tanner McGraw” podcast

NAI Partners’ Managing Partner Jon Silberman was

recently featured on the very first episode of Apto’s new

commercial real estate podcast, “Common Area with

Tanner McGraw.” Jon discusses his background, how

he got into the commercial real estate business, the

growth of NAI Partners, and the critical importance of

prospecting, among other topics.



NAI Global again named #4 Most-

Recognized Brand in Commercial

Real Estate

NAI Global has been named the

4th-most recognized brand in

commercial real estate, per The

Lipsey Co.’s 2018 Commercial

Real Estate Brand Survey. The

organization trails only (1) CBRE, (2)

Cushman & Wakefield & JLL, and (3)

Colliers. NAI Global was also ranked

#4 in the Lipsey Co.’s 2017 and 2016

surveys as well.

This is Lipsey’s 17th year conducting

its survey of the Top 25 Brands in

Commercial Real Estate. It uses

a combination of 3 data points: 1)

The annual Lipsey ballot, 2) Phone

interviews, and 3) Focus groups.

The balloting is quantitative and the

phone interviews and focus groups

are subjective.




ZeroCater needed a

real estate provider

that understood

its needs innately.


The corporate foodservice

startup sought to move quickly

as it expanded into Austin with the

mission of providing local businesses

with a comprehensive, data-driven

office food program designed to

improve employee engagement,

productivity and office culture.

Commercial real estate services provider NAI Partners Austin was

something of a startup itself—having launched operations two years

ago as the result of the continued growth and expansion of its Texasbased

parent—and recognized the critical importance of being both

comprehensive and nimble in assisting ZeroCater in executing on its

goals. Especially in one of the city’s proudest and most competitive

arenas—its food scene.

NAI Partners Austin’s sales professionals were able to draw on their

substantive ties to both local and regional markets, while also leveraging

their dexterity in partnering with ZeroCater to secure the right space in

Austin for the San Francisco-based startup right now. Thanks to its prime

Austin office location, ZeroCater has been able to focus on continually

exceeding the expectations of the businesses it services, and further

growing its roster of corporate clients.


512 580 6025





In honor of Texas Independence Day, indep


has been impacting

skyline for more than two decades, thro

industrial and retail leases; property ma

assignments, and much more.

NAI Partners’ Texas roots run

deep. We are an independent,

intrinsic part of the local business

community, founded in Houston

more than 20 years ago. A top

5 commercial real estate firm in

Houston, we offer solutions to

Tenants, Landlords and Investors

across Office, Industrial and

Retail product types.

NAI Partners is the #1 Mover of Square Feet amon

and sales brokerages, and the largest independent

commercial real estate services company foun

headquartered in Houston.

2224 Bay Area Blvd 5433 Westheimer 2201 Market St



ugh offce,


From the Galleria to Downtown, from the

Energy Corridor to Katy, from Northwest

Houston to Humble to Beltway 8 to 290 to

the ports and everywhere in between—we’ve

completed real estate transactions across

every square mile of our city.

g leasing

ly owned

ded and

As a stalwart Texas company owned by nobody but ourselves, and

that continues to impact the Houston skyline in unforgettable ways,

NAI Partners is proud to join our home state in the celebration of 182

years of Texas Independence on March 2.

5850 San Felipe 10451 Clay Rd 11301 Fallbrook

From partner-level


Gray Gilbert, Partner, Industrial Services

To mid-career veterans...

Jason Ridenbaugh

Senior Associate

Investment Sales

Nick Terry

Senior Associate

Office Tenant Rep

To the latest generation

of professionals...

Rani Jones, Associate, Office Project Leasing

NAI Partners is proud to announce the newest additions

to our growing team of real estate professionals.

We’re a top five—and the largest privately-owned—commercial real estate firm in Houston,

and among the largest commercial real estate companies in the city where the clientservicing

professionals own the business. We’ve always done things our way, differently

than other firms, and we’ll continue to do so—as the strongest company we’ve ever been.

Real estate. Reimagined.

1900 West Loop South, Suite 500

Houston, Texas 77027

tel 713 629 0500




Women’s Day

In honor of International Women’s

Day, celebrated every year on

March 8, we’re proud to celebrate

the exceptionally talented women of

NAI Partners.

Ferruzzo, Pritchett named 2017 CoStar

Power Brokers

Congratulations to John Ferruzzo,

Partner and Team Leader of NAI

Partners’ Industrial Group; and Clay

Pritchett, Partner; on being named

2017 CoStar Power Brokers! This

is the second year in a row John

has received this designation, and

the 10th time overall in his career.

Additionally, at the firm-wide level,

NAI Partners was once again

named both a 2017 CoStar Top

Leasing Firm and Top Sales Firm.

This is the 16th year in a row NAI

Partners has been named a CoStar

Top Leasing Firm, and 2nd year in

a row the company received a Top

Sales Firm recognition (and 8th

time overall).





How does a company get named a

Best Place to Work four years running?

Where do we start?

We’re NAI Partners, and we’re proud to once

again be recognized as one of the Houston

Business Journal’s Best Places to Work.


Commercial Real Estate Services

1900 West Loop South, Suite 500

Houston, Texas 77027

713 629 0500

Last year, we demonstrated an ability

to listen to our clients as we continue

to enhance our service delivery. This

year, NAI Partners’ Landlord Services

Division unleashes BEAST MODE.

Jacob Aldridge

Lesley Rice

If you didn’t know...

Jim Tainter

Randy Nerren

Zach Leger

Rani Jones

Andy Parrish

Now you do.

Some customers prefer to play it safe. And that’s fine. However, we

believe that in order to fully unlock the value of one’s assets, property

owners should hire strategically. And that means a CRE services

partner that embraces an ownership perspective.

If you own a building in Houston, Austin or San Antonio and want a

leasing agent and property manager that is hungry, ready to run fast,

jump high and take it personally, then we’re the platform for you.

NAI Partners Landlord Services. Brokerage is just the tipping point.

NAI Partners’ Office Project Leasing line of business is better and bigger than ever.

During the last 10 months, our OPL group has not only doubled in size, added a

second team and brought on seasoned Houston commercial real estate veteran Randy

Nerren, but more than doubled the total square footage of its assignments, amassing

a sizable leasing portfolio in Houston.

And we’ve experienced that growth while never losing focus of what makes our

OPL offering unique: our incomparable combination of relentless attention to

detail—sweating the small stuff is how we made our name—institutional knowledge,

responsiveness, and tenacity. We approach every single assignment as if we were the

owner, with a razor-sharp focus on producing the best possible results for our clients.

NAI Partners Office Project Leasing. Experience matters. Growth matters.

Representation matters.


1900 West Loop South, Suite 500

Houston, Texas 77027

tel 713 629 0500

Jim Tainter

Managing Director | Landlord Services

tel 713 629 0500


1900 West Loop South, Suite 500

Houston, Texas 77027

tel 713 629 0500


Josh Lass-Sughrue

NAI PARTNERS Investment ANNUAL Sales 2018

Chris Caudill


Griff Bandy


Nick Peterson


Jason Gaines


Clay Pritchett


John Simons


John Ferruzzo


Dan Boyles


Travis Land


Three years ago NAI Partners embarked on a strategic plan to diversify

our business offerings beyond Office and Industrial Services. It didn’t take

long for that decision to pay off. We’re pleased to welcome Retail Services

and Investment Sales leads to our 2017 Top Producer circle, alongside

the highest-earning specialists from our commercial real estate industryleading

Industrial and Office teams.

Congratulations to our

2017 Top Producers.

1900 West Loop South, Suite 500

Houston, Texas 77027

tel 713 629 0500


Now that we have your attention.

Let NAI Partners Austin satisfy

your commercial real estate needs.

With more than two decades of commercial

real estate dealmaking in Houston under our

belt buckles, you may not know that NAI

Partners also has a dedicated office in Austin

that provides our distinctive services to local

owners and occupiers of office, industrial and

retail space. With the geographic expertise

to complete transactions anywhere in the

city, throughout the state, or around the

country by leveraging the power of the NAI

Global network, we can be your partner

every step of the way.


701 Brazos Street, Suite 320

Austin, Texas 78701

tel 512 580 6025


Heavy Hitters finalists announced

The HBJ has announced the finalists for its 2018 Heavy

Hitters recognition program, honoring the city’s top

commercial real estate brokers based on their gross

dollar volume of deals completed the previous year in six

sectors—office tenant, office landlord, industrial, retail,

land and investment.

NAI Partners is proud to announce that four of our

professionals have been named to the esteemed Heavy

Hitters list: John Ferruzzo, John Simons and Travis Land

in the company’s Industrial Services group; and Jason

Gaines, head of the firm’s Retail Services division.

The Heavy Hitters rankings in each sector will be revealed

at a reception on May 10 at 5:30 p.m. at the Wynden on

Post Oak.

Ryan Searle on list of Top

100 commercial real estate

influencers on Twitter

Ryan Searle industrial broker is a member of NAI

Partners’ Industrial Services group, and works with

tenants and landlords to lease and sell small single-tenant

office/warehouse buildings, crane-served fabrication/

manufacturing buildings, investment grade bulk distribution

centers, and other industrial product types.

To learn more about Ryan, head over to his website, and

connect with him on LinkedIn.



Tenant Operating Expense Analysis

When was the last time you studied

your operating expense bill in detail?

We provide an Operating Expense Analysis service offering

at no cost to you or commitment. This analysis may

uncover errors that save our clients significant money.

Let NAI Partners do the heavy lifting for you

NAI Partners’ Operating Expense Analysis is a value-add service that we offer at no cost or commitment.

We review your current Operating Expense Reconciliation Statement and compare it to the

lease definition of operating expenses, as well as compare against historical Reconciliation

Statements from prior years.

We will determine:

• If your landlord correctly calculated and summarized escalations due by you—the tenant.

• How your building's OPEX details compare to other similar buildings in your submarket.

• If you were correctly billed.

The operating expense calculation process is surprisingly complex, and often has errors.

We’ve been doing this for 20 years and know where to look for the errors—incorrect billings,

mathematical miscalculations, etc.

We’ve completed a significant number of Operating Expense analyses, and have saved our

clients hundreds of thousands of dollars in aggregate.

Ultimately our Operating Expense Analysis ensures

your interests are protected as an office tenant.




NAI Partners San Antoni

with 20 years of experien

With two decades of commercial real estate dealmaking

that NAI Partners also has a dedicated office in San

owners and occupiers of office, industrial and retail spa

Like Fiesta,

we are a unique

San Antonio institution

because we’re built differently

than everyone else.

Our office is entirely comprised

of proud Alamo City

natives who know this city

inside and out.



o is open for business—


in Houston under our belt buckles, you may not know

Antonio that provides our distinctive services to local


We have the

geographic expertise

to complete real estate

transactions anywhere in

San Antonio, throughout

Texas, or around the

world, by leveraging

the power of the

NAI Global




be your


every step

of the way.

Find out more

or contact us at



tel 210.446.3655



Here’s what today’s office tenants

are demanding

“Over the past several years, the criteria of the

corporate office user has been redefined. They’re

wanting to be in locations that have the amenities

that attract a workforce. Those opportunities will be

in projects that are fully amenitized. The Woodlands

is a great example, Springwoods Village is a great

example and the area west of Interstate 10 is a great


NAI Partners named Cougar 100

Company for 5th straight year

NAI Partners is proud to have once again been named a

Cougar 100 company. The company has been selected

in all five years of the Cougar 100 list’s existence, and

last year was ranked 75th-fastest growing!

Nick Terry on list of Top 150

commercial real estate influencers

on LinkedIn

Nick Terry of NAI Partners’ Office Tenant Rep Group was

recently named one of the 2018 Top 150 Commercial

Real Estate People You Must Connect with on LinkedIn

by Duke Long.



NAI Partners named to Houston

Business Journal’s Best Places to

Work list for fourth year in a row

NAI Partners is proud to announce that it is one of

just 102 companies named to the Houston Business

Journal’s 2018 Best Places to Work list. This is the 4th

year in a row the company has ranked on the HBJ Best

Places to Work list, and 9th time overall in the 17 years

the HBJ has been publishing the HBJ Best Places to

Work list.

NAI Partners’ Graphic Designer

wins prestigious art competition

Our own Padaric Kolander, Graphic Designer, who won

the Hunting Art Prize in 2016, was recently the subject of

a profile written by his alma mater, Eastern New Mexico


The Hunting Art Prize, sponsored by Hunting PLC, an

international oil services company, was an annual art

competition for Texas artists with a $50,000 award.

Artists submitted a single two-dimensional painting or

drawing, with a winner being determined through a twotiered

jury process.

“My work was in a main gallery area, where I also had a

piece shown in a previous year, and I could see it hanging

on the opposite end of the room the entire evening and

during the presentation. Like every dumb artist, I thought

I could win, so I kept looking at my work to see if they

would grab it off the wall for the announcement. At some

point, I got distracted and an usher kept asking me to

move closer to the stage. I thought they needed more

room for people behind me.”

“Then, they announced my name as the artist selected

for the prize. Somehow I made it to the stage, shook

hands and mumbled a couple of sentences. It took a

long time for it to sink in. I had a great time each year,

and the people at the gala could not be more genuine,

helpful or generous. The event’s marketing coordinator

had even purchased my previous two entries. I was just

looking forward to coming back. I still hear from people

with them and remain in contact.”










NAI Partners’ fundraising efforts

provide new backpacks and school

supplies for the school year

NAI Partners’ annual internal fundraising event

on behalf of Child Advocates was once again

a rousing success, as the company raised

enough money to buy school supplies to

support 225 elementary school-aged children

for the 2018-19 school year.

“Passion and dedication are two of our

company’s core values,” said Travis Land,

a Partner at NAI Partners, member of the

Industrial Services group, and organizer of

the successful fundraiser. “We’re thankful for

the opportunity to show our passion for our

local communities and dedication to giving

back on behalf of this important cause.”

Child Advocates is a private, non-profit

organization in Houston dedicated to breaking

the cycle of child abuse through the court

appointed special advocate system.





Market Trends

& Highlights




In Austin, small industrial space becoming

near-impossible to find; legacy restaurants

are being displaced; and the office market

remains defiantly tight

NAI Partners Austin recently held its inaugural Austin

Press Luncheon at its home base at 701 Brazos Street,

and featured a panel of the company’s experts—including

David Dawkins, Troy Martin, Todd Mahler and Stephen

Wentworth—holding forth on a variety of trends and

topics in Austin real estate they are seeing across the

company’s Office, Industrial, Landlord Services and Retail

service offerings, respectively.

Highlights from the Austin real estate luncheon include:

Troy Martin on Industrial:

“In the very big warehouse distribution space — the

20,000-sq.-ft.-plus level — there are actual spaces and

availabilities for what feels like the first time in a long

time. I feel like I have choices for my clients. Trying to find

a small building, say 3,000 sq. ft. of industrial anywhere

near downtown — is virtually impossible.”

Stephen Wentworth on Retail:

“One of the overarching trends in the retail space we’re

seeing is the sheer volume of new developers coming

in and kicking out long-established, neighborhood

restaurants. Taxes continue to rise, rents continue to rise

— it’s a challenging pill to swallow for many a smaller

restaurateur and retailer.”

David Dawkins on Office:

“The office market in Austin remains tight. Five years ago if

you had to put 500,000 sq. ft. on the ground, you’d wonder

how long it would take to lease up. As Austin continues to

increase its appeal for companies of all sizes — including

names like Indeed and HomeAway—these types of spaces

not only are filled very quickly, but are fewer and farther




NAI Partners’ report on Houston Coworking

featured in Forbes

Our report on Houston Coworking has been featured in

Forbes, in an article entitled Coworking Space Occupies

Only 0.7% Of Houston Office Market, Report Finds.

The story also quotes our own Dan Boyles on Houston

Coworking heavily:

A less anecdotal assessment, by NAI Partners’ office

market study of coworking space in Houston, finds the

trending concept “continues to be a hot topic but is less

pervasive than expected.”

The city’s current inventory of 115 coworking venues is

dispersed around the metro area. Their combined space

totals 1.5 million square feet, which the report ranks as

“a mere” 0.7% of the 207 million square feet of office

space in Houston’s 17 submarkets.

Dan Boyles, partner in NAI’s office tenant group, says

the report explored a real estate segment getting a lot

of attention from the industry and investors but lacking

metro level data to track historically.

“The report dispels the myth,” he says.

As defined by the study, coworking properties encompass

a variety of workspace delivery and workspace-use

experiences, from a strictly open floor plan and “hot

desking” model with community-building culture, to

more traditional executive suites with assigned offices.

Coworking locations are starting to flourish near large

employment centers around the city, especially where

the urban density is increasing, Boyles notes. Ditto in

the suburbs, which have a lot of office space—and room

for more given the lack of physical barriers to growth, he

says, something many large cities encounter.

Houston’s outlying southwest and northwest submarkets,

for example, weigh in with 2.7% and 2.3% of coworking

space, the report shows, with a majority of submarkets

hovering below 1%. The NASA/Clear Lake submarket

located southeast of downtown hovers at just under 2%.

Coworking properties appear to be attracting tenants at

both ends of the scale spectrum, Boyles notes. Small

users (such as startups, entrepreneurs and so-called

“creatives”) are seeking short lease terms and synergy

opportunities within collaborative environments. Larger

companies are looking for turnkey office solutions, handy

for getting satellite operations up and running.

“It’s still a fairly fragmented business,” Boyles says. “The

traditional office will continue to dominate the market for

the foreseeable future.”



GlobeSt: Eighth-largest Austin industrial sale

corresponds with hot market

From’s recent story on NAI Partners Austin completing the 8th-largest

industrial sale in Austin this year:

In the private buyer category, the eighth-largest

industrial sale in Austin for this year just hit the record

books. The 57,500-square-foot industrial property is

located at 10611 N. I35.

The buyer is an owner of multiple luxury sports car

dealerships that will likely use the property as an offsite

auto repair location, learns. The price

was undisclosed.

“Overall, the Austin industrial market has continued

its strong 2018. Midway through the third quarter, the

vacancy rate dropped 30 basis points to 6.5%, compared

to 6.8% the month prior. Occupancy of the almost 1.1

million square feet delivered to the market year-to-date

stands at 60.9%, and of the 38 properties with 2.5 million

square feet currently under construction, 86.4% of that

space is available for lease,” Leta Wauson, NAI Partners’

director of research, tells




We're proud.



NAI Partners ranks among the firms with the most

transactions in Houston every year; features a fullservice

commercial real estate platform across

multiple geographies; and provides unparalleled

client service. We’ve been doing this for 20 years.

And we’re just getting started.

Let’s have a conversation about your real estate

needs today.



tel 713 629 0500


Houston Office

1900 West Loop South, Suite 500

Houston, TX 77027

tel 713 629 0500

Austin Office

701 Brazos Street, Suite 320

Austin, Texas 78701

tel 512 580 6208

San Antonio Office

1020 NE Loop 410, Suite 810

San Antonio, Texas 78209

tel 210 446 3655


More magazines by this user
Similar magazines