Cover Story Developer of the Year 2017
care buildings as well as retail space.
In 2004, he became TCC’s central
region president. Three years after
CBRE purchased TCC, Khourie was
selected to head CBRE Global Investors, CBRE’s real estate investment
management subsidiary. In 2016, he
was named CEO of TCC. “I was very
excited by this opportunity, because
my ;rst love in the real estate business is development,” he says.
Although it’s been many years since
Trammell Crow himself headed the
company, Khourie stresses that a
spirit of entrepreneurship and partnership continues to thrive at TCC.
“It is a culture at the foundation of
our company,” he explains. “There
is a strong bond of partnership
among all of our 16 of;ces. When
one of;ce needs expertise from another, our team members are always
willing to assist.”
The culture of entrepreneurship is
also stronger than ever, according to
Khourie. Much of this has to do with
how the company is structured; it is
centered around its business units.
This enables local professionals in
each of TCC’s of;ces to re;ne their
own strategies, and to uncover and
make the most of the best real estate
opportunities that their markets offer.
TCC now has local business units
in Atlanta, Austin, Chicago, Dallas,
Denver, Houston, Los Angeles, Newport Beach, Philadelphia, Phoenix,
Pittsburgh, Portland, St. Louis/Kan-sas City, San Francisco, Seattle and
DEVELOPMENT FALL | 2017
Trammell Crow Company’s Impacts
On Local Communities and NAIOP
Trammell Crow Company makes its biggest impact on the local communities in which it works through its contributions to the built environment.
It uses best-in-class practices to create developments that address the
economic, environmental and civic needs of the community.
At the same time, TCC’s headquarters and all of its of;ces are involved
with their local communities at a granular level. TCC supports many
national charities and its employees are actively involved with more than
155 local community and civic organizations. Employees have done
everything from selling Christmas trees to raising money to send at-risk
youth to summer camps, to participating in a long-distance bike ride that
bene;tted the Leukemia and Lymphoma Society.
TCC’s Dallas-Fort Worth of;ce also transformed a 2,000-square-foot
laundromat into classroom space for an overcrowded YMCA preschool.
The TCC development team designed and constructed three new classrooms with built-in shelves for storage, added windows to bring in natural
light and painted all of the rooms in bright colors. Their work increased
the preschool’s capacity by 45 percent.
TCC is also a strong supporter of NAIOP, which it views as the nation’s
leading real estate trade association. It encourages its employees not only
to become NAIOP members, but to also take on leadership roles in the
association. Sixty-one TCC employees are currently members of NAIOP;
four TCC executives are members of NAIOP chapter boards:
Scott Krikorian, senior managing director, is currently president of NAIOP
Thomas A. Bak, senior managing director, serves on the board of NAIOP
Inland Empire in California and is a former NAIOP SoCal chapter president.
Grady Hamilton, principal, sits on the board of NAIOP Chicago and is
a former chapter president.
Campbell Smith, principal, serves on the board of NAIOP DC | MD.
Other former chapter presidents include Aaron Thielhorn, managing
director (NAIOP Houston), Denton Walker, senior managing director
(NAIOP North Texas) and Kirk Olsen, senior vice president (NAIOP
From Business Unit to
Khourie describes how the company
works with its local units by highlighting a recent project in Austin, Texas.
In 2008, the city accepted proposals
from developers to redevelop approximately 4.4 acres in downtown,
the former home of Austin’s Thomas
Green Water Treatment Plant. The
local TCC of;ce saw the site as an
excellent opportunity to revitalize the
area and went to work on a plan.
After winning out in the RFP selection process over four other national
developers, TCC entered into negotiations with the city. The negotiation
process included several presentations to the TCC Investment Committee. It concluded in 2012 with the
city’s ;nal approval of a conceptual
master plan that included four separate towers totaling over 1.8 million