SRS Real Estate Partners has promoted its first president.
Garrett Colburn, who’s been with the Dallas-based commercial real estate firm since 2012, will fill the role. Colburn is the managing principal and co-market leader of SRS’ five offices in California. He’s served on the board since 2016. He’ll continue to serve in both roles, according to a news release from SRS.
Colburn will work with CEO and board chairman Chris Maguire to grow the firm’s platforms, the release said.
Colburn came up in SRS’ retail operation. He and colleague Terrison Quinn grew SRS’ Southern California operation from an office of two to a group of more than 45. Colburn is also a founding member of the company’s national net lease team, which completed $2.2 billion in transaction value last year, according to the release.
Prior to joining SRS, Colburn was a retail associate at commercial real estate services firm Grubb & Ellis (the firm was acquired by BGC Group in 2012), according to his LinkedIn profile.
“This move signals a continued commitment to growth for SRS,” Maguire said in a statement.
The news comes as demand for retail real estate reaches a historic high, especially in Sun Belt markets. Given the volatility of office and multifamily products, investors are looking at shopping centers. The inventory of brick and mortar retail is low, since little new retail has been built in the last decade. As a result, rents are higher than ever.
In Dallas-Fort Worth, retail rents rose nearly 9 percent between the first quarter of 2024 and a year earlier, according to a report from Partners released in May. About 66 percent of retail projects in the pipeline are pre-leased.
SRS was founded in 1986 as Staubach Retail Services and changed its name in 2013, after Roger Staubach joined JLL. SRS specializes in retail real estate and also works in the industrial sector. The firm has 29 offices around the country.
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