Christen Vestal, one of Houston’s only female industrial leaders, has left Vigavi Realty to join Provident Realty Advisors as it establishes a Houston office.
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Vestal will be Provident’s first female development partner and lead the new office of the Dallas-based firm, according to the Houston Business Journal, which first reported the plans Monday. She is in the process of leasing office space and plans to hire at least three analysts and two development partners, the HBJ reported.
Her work with Vigavi focused on industrial real estate. Among Vigavi’s recently announced projects is a 178-acre industrial development off Highway 290 in Waller County, northwest of Houston. Before Vigavi, Vestal worked for Corporate Built Solutions and Avera Cos., both based in Houston.
Provident’s Houston-area projects include The Grid, a mixed-use, $500M development on a former Texas Instruments campus in Stafford, and The Star, a multifamily complex in the former Texaco building downtown.
Vestal is a 2021 Bisnow Houston Power Woman, who previously told Bisnow she hopes to complete 1M SF in transactions this year.
In an interview with the HBJ, Vestal said Provident was patient during the yearlong interview and transition process, especially considering she was nine months pregnant during their first interview. They gave her ample time to have her baby and close out projects with Vigavi, she said in the article.
“In a male-dominated industry, it can be intimidating for a woman to interview with 10 guys at once, especially in industrial, which is even more male dominated,” Vestal told the HBJ. “But they couldn’t have been more kind and understanding. It just wasn’t a thing.”
Vestal predicted that in about six months, industrial space will be lacking, driving rental rates up. She pointed to industrial leasing being at all-time highs, decreasing absorption and construction likely coming to a virtual standstill as her rationale, the HBJ reported.
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