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December 11, 2013
Close Up With Wade Bowlin
PMRG's Central Region has 10 projects under construction, 70M SF of existing product, and 600 employees. And somehow managing director Wade Bowlin oversees it all. Meet the man, the mystery, the ... future poker champion?
Wade tells us he's been particularly enjoying PMRG's evolution to more development and company-owned properties. It's currently working on major developments like Jacobs Plaza, Westchase Park II, and 3737 Buffalo Speedway in Houston, and he says the firm's pipeline is more extensive than ever. Wade joined PMRG in '01 and was made a partner in 2007. He did stints in property management and leasing, and now he does both as head of PMRG's property services for the Central US. Houston is the firm's largest city with 40M SF.
Here Wade's golfing at Pacific Dunes in Oregon with Prudential's Barry Howell, PMRG's John Dailey, and ApexOne's Ernest Johnson. (You can find buried treasure there if your idea of treasure is lost golf balls.) How'd he get where he is today? When he graduated from Texas Tech in 1984, he had acceptance letters from two law schools, but his older brother convinced him to go into real estate to make more money. (Naturally, he went broke four years later. The '80s were a wild time.) In 1989, Wade moved to Dallas to get institutional experience, and in '92 he came here to manage One Park 10 Plaza for Fults. He built the Houston portfolio up to 12M SF before the firm was bought by Kennedy & Wilson.
Back at home, Wade spends plenty of time chasing around his four kids ranging from two to 26 (that explains his trim figure). He managed to wrangle everyone for this picture around Thanksgiving. With all that, he still up for almost anything involving hunting or golfing, and he tells us he takes part in several World Series of Poker tournaments every year. He'd love to win the whole shebang, but it could never happen—the final leg you see on ESPN is a three-week tourney, and who has time for that?
From the ICSC Floor
We stopped by Cushman & Wakefield's booth at ICSC's New York National Conferece Tuesday, where we snapped Americas retail services leader Matt Winn (right) with NY senior director Steven Soutendijk. According to Matt, the top three retail stories to watch in 2014: 1) the continued rise of luxury as it branches into off-prime locations--think Ulaanbaatar couture; 2) further urbanization worldwide as people move back to cities (50% of Asians live in cities today, projected at 75% by 2040); and 3) a greater focus on outlets ("on fire, everywhere, every brand...people want a perception of value," he says). Over 7,000 retail-related pros attended this year's conference, held at the New York Hilton and Sheraton.
Thanks to the Internet, regional luxury fashion names began desiring national recognition, JLL's (and colleague photobomb victim) Michael Hirschfeld tells us. Now they want to be multinational. That's partly why his brokerage, Surge Retail, was acquired by JLL over five months ago; his clients wanted overseasadvice.
Introducing 2014 Org Presidents
It's the time of year when local real estate orgs announce new boards. That includes the Appraisal Institute, which just named O'Connor & Associates' Buddy Trotter as president. (Above, he's being sworn in.) He'll focus on an outreach program to area high schools and junior colleges to present the appraisal profession as a vocational choice. BOMA also named its 2014 board, including new prez Transwestern SVP Brett Williams. Memorial Hermann's Marshall Heins was selected as president-elect.
A few wise pros pointed out that keyboards do have locks--cap lock, num lock, scroll lock (has anyone ever used that one?). So our last riddle may not have worked after all! Maybe this one will be better: There's a 100-pound watermelon lying in the sun. 99% of its weight is water. After a few hours, 98% of the watermelon's weight is water. How much water evaporated? Tell Catie Dixon, email@example.com.