Sunday, December 13, 2009

Adam Saphier to lead Trammell Crow Co. in Dallas

Dallas-based Trammell Crow Co. has appointed Adam Saphier to lead the company’s Dallas-Fort Worth business unit, a role in which he will oversee all development and acquisition projects, new business pursuits, finances and day-to-day operations.

Saphier will succeed Denton Walker, who has run the D-FW business unit since 2001 and will remain with the group as a senior managing director. Walker will focus on office and retail projects, including the company’s Timber Creek retail development in Northeast Dallas and its Legacy office project in Plano.

It's an exciting time to be heading into the Dallas market, Saphier said. The Dallas-Fort Worth area "continues to be one of the best long-term commercial real estate markets in the U.S.,” he said.

"The challenge for us is to identify the best opportunities to create value in new real estate pursuits," Saphier said in an interview. "Those opportunities are being brought about by the turmoil in the real estate industry."

Saphier said he's especially interested in the possibilities for build-to-suit office development in the Legacy business park in Plano. Trammell Crow originally purchased 404 acres in Legacy and now has 234 acres left for purchase or build-to-suits.

"I don't think there's going to be much, if any, speculative office development (in North Texas in 2010), but I do think there will be build-to-suit opportunities," he said. "One of the things I'm really excited about is the land we own at Legacy. I think it is best-in-class quality, and we will have development there in 2010."

Bob Sulentic, Trammell Crow CEO, said Saphier's customer focus and his ability to drive growth and business performance will serve him well in his new leadership role.

“Adam is an excellent leader whose dealmaking and management skills make him the ideal choice for TCC’s headquarters city and one of the company’s most significant markets,” Sulentic said in a press statement.

Saphier joined Trammell Crow in 2005 and previously served as a principal with the firm’s Houston business unit. He specializes in the development of Class A office buildings, both on a fee basis and as principal investments.

Saphier's recent work has focused on the sourcing, financing, development and leasing of 1.5 million square feet of office projects with total project costs of about $500 million. These projects represent Trammell Crow's largest in Houston, including Energy Center I, Energy Center II and Hess Tower.

Saphier serves on the Urban Land Institute’s Houston Executive Committee as co-chairman of their sustainability committee and on Trammell Crow's national sustainability task force. He received a bachelor's degree from Pomona College and an MBA from the Darden Graduate School at the University of Virginia.

Trammell Crow, an independently operated subsidiary of CB Richard Ellis Group Inc., is one of the nation’s leading developers and investors in real estate. It has developed or acquired more than 500 million square feet of buildings with a value of more than$50 billion. As of September, Trammell Crow had more than $6.1 billion of projects in process or in its pipeline.