National real estate services firm Stream Realty Partners has named a new chief operating officer with a focus on growing the brokerage's business lines within its 14 existing coast-to-coast offices while keeping an eye on the effects of inflation and interest rates on the commercial real estate industry.

The Dallas-based company has promoted Blake Kendrick, a veteran of the company and the executive managing director of its Dallas-Fort Worth market, to serve as its next chief operating officer. Kendrick, who is consistently one of the top industrial brokers in the Dallas area, replaces longtime Chief Operating Officer Liz Sheff, who plans on retiring by the end of the month after more than a dozen years with Stream Realty and a 32-year career in the commercial real estate industry.

Kendrick's promotion to the company's C-suite after 16 years at Stream Realty comes as the commercial real estate industry continues to consolidate and high-profile real estate executives have changed teams to keep up with those moves.

He has held several leadership positions at Stream Realty since joining in 2006 after graduating from Texas A&M University.

In his new role at the firm, Kendrick is responsible for alignment, processes and profitability in the company's 14 offices, while managing the Dallas and Fort Worth operations. Initially, his top priorities will be to ensure the firm's infrastructure can handle its undisclosed projected growth. He will work alongside President Chris Jackson on that future growth strategy.

Stream Realty's new COO is a "forward-thinking, empathetic leader" who understands the culture at the brokerage firm, Jackson said, adding that Kendrick is trusted and respected by the firm's leaders, whom he will work closely with helping guide Stream's future growth.

Kendrick said his experience in overseeing and managing Dallas, the firm's largest market, will help guide him in his new role as he navigates a bit of a "learning curve," with nuances in certain markets and states. It also helps that he was "an end user of many of our operations," which has helped him see what Stream Realty does well and how it could become more efficient in the future, he added.

"Our goal is to provide our customers and partners the best service available in each of our markets," Kendrick said. "We don’t want to be the largest; we want to be the best. There is a lot of focus on growing our current business lines across our existing footprint."

Even as the commercial real estate industry faces macroeconomic headwinds, Kendrick said the firm really likes the markets it operates in and believes when the economy changes it will create "opportunities for us to grow, expand into new service offerings." He declined to disclose the new service offerings Stream Realty was considering adding.

The brokerage firm has existing offices in Atlanta, Georgia; Austin, Dallas, Fort Worth, Houston and San Antonio in Texas; Charlotte, North Carolina; Chicago, Illinois; Denver, Colorado; Los Angeles, California; Nashville, Tennessee; Northern Virginia; Phoenix, Arizona; and Washington, D.C.

Stream Realty is seeking to build its culture and hire the right talent to fill key positions, with people being the brokerage firm's greatest asset, Kendrick said, adding, "We are always looking to open new offices, but the timing must work and, more importantly, we have to find the right person or people to lead each new market."