Nuveen Real Estate launches new office in Dallas, Texas
Nuveen Real Estate has opened a new office in Dallas, Texas as the firm continues to expand its presence both nationally and within the Lone Star State. Graydon Bouchillon, Managing Director and Head of the U.S. Industrial sector for Nuveen, will lead the company’s newest U.S. office location which is located in the heart of Uptown at The Union.
“At Nuveen, we believe that reinforcing our local presence in a dynamic, growth-oriented market like Dallas will best serve our clients and investors as our real estate platform continues to evolve and expand,” said Bouchillon. “The Dallas-Fort Worth Metroplex and the entire State of Texas offer vibrant economies and attractive fundamentals that make this a promising region for enhancement of our investment capabilities.”
The Dallas office is staffed by a seven-person team that is expected to grow significantly as Nuveen Real Estate expands its investments in the region and builds a hub for its industrial and logistics sector team. To that end, the company recently added three senior level industrial professionals to the Dallas office roster including Louis Bauer, Kyle Patterson and Holly Losey who have collectively accumulated nearly 40 years of combined experience in the industrial sector.
Nuveen Real Estate currently owns over 29.1 million square feet of commercial real estate property in Texas. In the DFW metroplex, the firm’s investment portfolio comprises nearly 7 million sq. ft. across all real estate sectors which is highlighted by approximately 5 million sq. ft. of industrial assets and the Lincoln Centre office project.
The firm has been investing in the industrial sector since 1953 and currently manages approximately $11.2 billion of industrial properties globally. The firm’s U.S. industrial holdings total approximately $9 billion across both equity and debt investments in the sector, including nearly 11 million sq. feet of industrial assets in Texas.
According to Nuveen Real Estate's Think U.S. cities 2019 outlook, the firm forecasts that rent growth in the industrial sector will continue to outperform other sectors in 2019 as supply will remain constrained, especially for light industrial properties in urban areas that are benefiting from e-commerce activity.