Arcadia Management to expand in Texas – Austin Business Journal – The Business Journals

A Phoenix-based property management company plans to expand in Texas.
Arcadia Management Group Inc. promoted Sara Pilar to the new role of regional director of property management in the state, the company announced. In her new role, Pilar will assume responsibility for day-to-day management of AMG’s Texas portfolio as it adds both properties and personnel.
Pilar will relocate to Austin from North Carolina. She was previously an AMG senior property manager, where she managed a campus in that state’s Research Triangle Park. Throughout her career, she’s managed “millions of square feet of space” that includes medical office, retail, industrial and class A office properties.
Across the country, AMG provides property management, construction management, maintenance and accounting services for more than 60 million square feet of commercial real estate, according to the announcement. The firm entered Texas in 2017 and manages properties primarily in Austin, San Antonio and Midland.
With Pilar in her new role, AMG hopes to grow its portfolio both in those markets and “additional Texas cities.”
AMG ranked No. 10 Austin Business Journal’s latest list of commercial real estate property management firms, with 4.22 million square feet managed as of January. That was an increase from the start of 2021, where the company ranked No. 12 with 3.22 million square feet managed. Major properties managed by AMG include Parmer Innovation Center and Research Park.
“I’m thrilled for this next stage in my career, at a company where I truly love the culture, the people, the clients and the values,” Pilar said in a statement. “I’m ready to dive in to the Texas market as an active member of the CRE community and as a leader tasked with growing our Texas presence through new relationships and an expanded in-house team.”
AMG’s top local executive is Joe Ford, president of Texas operations. The company is led by President Gary Shaw.
Office space availability remains high in the Austin area, according to a recent Partners report. Metro-wide vacancy was about 14% in the second quarter, while availability, which includes space that is occupied but will soon be on the market, was nearly 21%.
A total of 11.3 million square feet of office space was under construction in the metro last quarter, which represented about 11% of the existing 102.1 million square feet of space.
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