Transwestern Prepares for Big Expansion
Transwestern is growing around the country and will be announcing new markets soon, according to president of the Americas Chip Clarke (we snapped him with director Jodie Jiles and president of the Southwest Kevin Roberts at Transwestern’s ULI Spring Meeting reception last night). It’s deepening within its 34 markets but is also widening its footprint; Chip tells us it’ll announce new offices by the end of the summer. It’s reorganizing the west—Rob Bagguley just took over in San Francisco, and Transwestern is growing there and in Seattle. In the Northeast, under leader Steve Purpura, it just moved into new office space in New York and is growing in New Jersey and Connecticut.
Chip says it’s a great time to be in real estate with all the major M&As. He feels that deals like DTZ’s acquisition of Cushman & Wakefield are good for those groups and also for Transwestern. And despite gloom-and-doom reports, he feels great about Houston and is happy to have such deep roots HQ’d there. He says the market was about to overheat, so the pause was perfectly timed. He’s starting to see activity increase again across product types. Chip’s heading to USC this week to watch his youngest daughter graduate.