When Nate Newman was a kid growing up in The Woodlands, he only remembers one (not very good) restaurant. Now The Woodlands is awash with opportunity, luxury and fine dining. As a native who’s now heading Marcus & Millichap’s investment transactions in the area, few people have a better understanding of the submarket. Don’t miss your chance to hear Nate at Bisnow’s Future Of The Woodlands event on May 11.
Nate’s family came to The Woodlands in 1973. His father worked for George Mitchell in the early days and his mother went into residential real estate. (She's still going strong 43 years later.) After graduating from Baylor, Nate decided to make his own path by focusing on commercial real estate. Nearly 10 years later, he leads a team of investment sales brokers, with a primary focus on his hometown. At the end of last year, Nate completed the sale of a Walmart-anchored retail center on Woodlands Parkway. The deal was very competitive and received nine offers. Nate has 14 active investment sales listings (shopping centers and office buildings). Three are under contract but the others are fair game…got an offer?
Expertise like Nate’s is needed in a unique submarket like The Woodlands. Development is tightly constrained because Howard Hughes Corp owns the land and doesn’t sell to outside developers. As a result, investment offerings in The Woodlands are very competitive and command a premium. Additionally, as the community’s build-out nears completion, developers and investors have looked to the surrounding areas for opportunities.
Nate says development is natural and is inevitable in Montgomery County. You can’t fight it, so the key is to manage it well. Roads are a vital part of handling the growth, though they’ve been used as political fodder. The Grand Parkway has been especially important for the areas surrounding The Woodlands, such as Springwoods Village and the Exxon campus. With improved mobility, reverse commuting into The Woodlands has also become more popular. In fact, two Millennials who work for Nate reverse commute from The Heights.
Nate is an active member at WoodsEdge Community Church. He and his wife, Marifer (above), will celebrate their one-year wedding anniversary next week. They love to travel together and are leading a mission trip in July. A voracious reader, Nate goes through a couple of books a week. He’s currently reading Titan: The Life of John D. Rockefeller.
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