Allen Crosswell's company, TGB Crosswell, is acquired by NewQuest.

HOUSTON- NewQuest Properties continues its expansion with the announcement of its new division, NewQuest Crosswell. As of March 1, NewQuest Properties will join forces with Houston real estate brokerage and investment group TGB Crosswell.

NewQuest Crosswell will leverage the resources of NewQuest Properties with Crosswell’s knowledge, experience and relationships within the industry to develop retail centers throughout Texas. “The joining of NewQuest Properties and Allen Crosswell signals to the industry that the retail development market is ramping back up,” says Katherine Hatcher president and CEO of NewQuest Properties in a press release. “We highly value the expertise and creativity that Crosswell brings to us and are excited about the opportunity to increase our retail development activity in Texas with Allen and his team.”

Allen Crosswell, co-founder of TGB Crosswell is a highly- respected developer with more than 20 years of experience in Houston’s land brokerage and development arenas. Several others from TGB Crosswell will also be joining NewQuest Crosswell including Tod Greenwood, Ned Torian and Eric Lestin, as well as many of their brokers.

“I’ve never been more confident about the vibrancy of the industry,” Crosswell says in the press release. “This is the right time, chemistry and team to align with. Our philosophy of building client trust through service along with a daily commitment to honor and fulfill that trust fits perfectly with that of NewQuest Properties’.”

This latest move by NewQuest Properties follows the recent acquisition of Texas/Southwest Group, leading to the launch of NewQuest Epic Investments. NewQuest Epic Investments, a new division created approximately three months ago locates and acquires existing grocery-anchored retail centers in the top 60 markets nationally.

Representatives from NewQuest and TGB Crosswell were not immediately available for comment. An update will follow shortly.