Henry S. Miller Cos. Beefs Up Commercial Strategy with Residential Division Sale

DALLAS-The Henry S. Miller Cos. has hawked its 1,500-associate residential business and mortgage company in a move that guarantees a beefing up of commercial activity in Texas and surrounding states. NRT Inc., based in Parsippany, NJ, now has the keys to Texas and Colorado for Miller’s residential sales offices and American West Mortgage Co.

Vance C. Miller, CEO and chairman, tells GlobeSt.com that many a suitor has been turned away through the years, but the timing hadn’t been right until seven weeks ago when NRT came knocking. More importantly, he says, the timing is right to expand commercial development in Texas and enter markets of surrounding states.

Henry S. Miller Commercial has two shopping centers under construction in Texas, but is plotting another 10 ground-breakings this year of community-based convenience centers, Miller says. The deals are still in the option stage and not ready to be announced. “It’s going to be a pretty interesting program,” he assures GlobeSt.com.