taylor stearns [Image sources: Courtesy photo; DI]
Real estate investment firm CapRock Partners is expanding in the Texas market, bringing on new executives to lead acquisitions in the state.
The California-based company announced it has hired Taylor Stearns as vice president of acquisitions for its central region, with a focus on Texas. In his new role, Stearns will oversee all acquisition activity in the Lone Star State as CapRock looks to “begin expanding its strategic portfolio” in Texas, according to company president John Farris. He will be supervising.
“We were looking for an acquisition leader with deep local knowledge of the Texas market, and Taylor is a talented professional who will add great value to our Texas-based team,” said Farris. said.
Stearns, who is based in Fort Worth, spent nearly eight years at commercial real estate services firm Cushman & Wakefield, where he was responsible for more than $5 billion in industrial investment sales in Texas and throughout the United States, Caplock said. , has accumulated a wealth of experience.
“Trends in the market environment and the current reset in property and land values create an excellent opportunity for CapRock to expand throughout the Central Region,” Stearns said in a statement. “CapRock is well capitalized through a variety of funds and its outstanding industry reputation is built on its strong people and culture of integrity, leadership and excellence.”
Stearns said Caplock will target high-value industrial assets and development sites in key Texas markets of Dallas-Fort Worth, Houston, Austin and San Antonio, as well as submarkets of El Paso and Laredo.
A “unprecedented opportunity” to expand your business
“CapRock is a leading institutional investor and development company well known in the Western United States, but new to the Texas market,” he said. “Despite macroeconomic conditions, demand for industrial warehouse space remains strong in Texas’ major logistics markets.”
Stearns said current market conditions create “excellent opportunities for CapRock to expand across the mid-region,” adding that the company “has ample capital across a variety of funds.”
CapRock currently owns and manages more than 17 million square feet of industrial facilities in the Western United States, but Texas is a new move for the company as it seeks to expand nationally. Mr. Stearns' connections and market knowledge will be a key asset as CapRock establishes itself in the highly competitive Texas real estate sector.
Founded in 2009, the privately owned investor and developer claims to have more than $3 billion under management in industrial real estate across the western and central United States. The company specializes in value-add acquisitions and the development of large-scale Class A warehouses, according to a news release. To date, he has acquired, developed or entitled over 30 million square feet of industrial space.
“I look forward to leveraging my skills, relationships, and wealth of knowledge to contribute to the growth of the CapRock portfolio in Texas,” Stearns said.
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