Industry Pioneer Roger Staubach Is the Ultimate Power Broker

Commercial real estate services have evolved to include everything from space planning and data analytics to incentives negotiations. But in the early days, it was a simple matter of development and leasing. It’s hard to convey the huge impact the advent of tenant representation—and the unlikely disruptor who helped pioneer it—has had on the industry.

Heisman Trophy winner Roger Staubach was a 27-year-old rookie when he joined the Dallas Cowboys in 1969, after keeping his commitment of service to the U.S. Navy. Earning a salary of just $25,000, he began looking for work in the offseason. A Naval Academy friend connected him with the Henry S. Miller Co.

Staubach joined in 1970, working briefly in its insurance division until he talked firm leaders into letting him get involved on the real estate side of things. “I worked every offseason until I decided that I wanted to make real estate a future for me, outside of football,” he says.

After learning the ropes at Miller, Staubach joined developer Robert Holloway in a boutique venture in 1977. He retired from football in the spring of 1980, and two years later formed his own firm, The Staubach Co. It was an amicable split; Holloway wanted to focus on development, and Staubach wanted to build a company around his interest in representing tenants. Click to read more at www.dmagazine.com.

McAllen, Texas; a Booming Binational Border Community

Since 1988, The McAllen Economic Development Corporation has attracted manufacturing companies from across the globe. The organization’s recruitment efforts focus primarily on using their strategic border location to give companies a cost-effective, globally competitive manufacturing solution, delivering quality products, that in some cases, are made to order and require a much more robust lead time.

Located along the United States – Mexico Border, the city of McAllen is home to several well-known manufacturing companies. Target industries include: Automotive, Electronics, Aerospace, Medical Equipment, Customer Care Centers, Data Centers, Hi-Tech companies that focus on Software
Development, Robotics and the Semiconductor business in the near future.

With an emerging binational population of 2.5 million and a manufacturing workforce of over 150,000, this international metro offers highly skilled talent with over 30 years of industrial experience. Local educational partners are focused on extensive training, skills development apprenticeship programs with a focus on Industry 4.0, artificial intelligence, and automation. Click to read more at www.rednews.com.

Real Estate In The Digital Age

The Rise of Proptech

Real estate is one of the largest asset classes in the world, comprising over $225 trillion; ~$50 trillion in the United States alone. Historically, the industry has been a slow adopter of technology due to its capital intensity and illiquidity, the longevity of assets, many different stakeholders, and disjointed workflows. However, over the last 10 years we have seen that begin to change with the emergence of ‘PropTech’, or property technology. PropTech can be thought of as any technology that impacts the built world.

A wave of venture-backed companies has emerged to help solve pain points across the real estate lifecycle and to bring traditional real estate processes and offerings into the 21st century. Some major trends and themes that have become popular for investors include fintech and insure-tech solutions, workflow management software, data and analytics software (often utilizing AI and machine learning), “smart buildings” via IoT devices, co-working and flexible space offerings, residential real estate platforms, use of robotics in construction, and modular or prefabricated homes.

Over the last 5 years, over $95B in funding has been invested into PropTech startups and PropTech-specific venture capital firms such as Nine Four Ventures, Fifth Wall, MetaProp and Zigg Capital. New players continue to emerge in the space as technology evolves, so it’s no surprise that with the recent rise of NFTs the real estate industry has reacted in unprecedented ways. Click to read more at www.forbes.com.

$100 Oil Unleashed a Commercial Real Estate Boom in Houston a Decade Ago. What’s Different Now?

The last time oil prices hit $100 a barrel nearly a decade ago, Houston’s commercial real estate market flourished.

Real estate investors poured money into Houston. Developers raced to build new office space. Oil and gas companies, flush with cash from the fracking boom, planned lavish new campuses and snapped up long-term office leases, often taking on more space than needed as they looked confidently to future growth.

This time around, $100-a-barrel oil is not stoking the same fervent optimism.

Even with oil prices expected to climb higher, energy companies — burned by two wrenching oil busts in five years — aren’t clamoring for more real estate. Under pressure from Wall Street to control costs, they’ve figured out how to do more with less – including fewer employees and fewer desks — while incorporating remote and flexible working arrangements that became popular with employees during the pandemic.

Throughout the pandemic, many oil and gas companies delayed leasing decisions, opted out of big expansions or consolidated real estate holdings. It’s too soon to say if high oil prices will change that behavior, experts say, but no one is expecting a repeat of the shale-induced real estate boom of a decade ago. Click to read more at www.houstonchronicle.com.

A New Real Estate Class that Combines Business and Pleasure

XSPACE IS BRINGING ITS UNIQUE “COMMERCIAL CONDO” CONCEPT FROM AUSTRALIA TO TEXAS—AND FINDING A GOOD FIT IN THE STATE’S BOOMING REAL ESTATE MARKET.

As business relocations to Texas continue, one side effect is a piping hot commercial real estate market.

In late 2021, the National Association of Realtors’ list of top commercial office markets of the year was bookended by Austin at #1 and San Antonio at #10. Meanwhile, Colliers’ 2022 Global Investor Outlook recently forecast Dallas as the top market for commercial real estate investment in 2022. Houston is not lagging either: In the third quarter of 2021, it boasted the largest volume of commercial real estate transactions in the country.

Of course, as every urban Texan knows, the residential side of real estate is also hot. As people move in from around the country, many homes are on the market for the blink of an eye.

Into this ecosystem comes a new “commercial condo” concept from XSpace, cofounded by Australians Byron Smith and Tim Manson.

The XSpace concept is a blend of existing real estate classes. XSpace units are currently for sale in a nearly completed building 15 minutes from downtown Austin, and they can serve a whole range of functions, from showroom to office to man cave to podcasting studio.

Click to read more at www.ytexas.com.

Plano Retailers Expect to Continue ‘Tech and Mortar’ Balance in 2022

Downtown Plano boutique Lyla’s Clothing, Décor & More did not have a significant online presence when businesses closed at the beginning of the coronavirus pandemic in March 2020.

Once a website was set up, Lyla’s owner Meagan Wauters said the page brought in nearly 50% of her revenues before people started feeling comfortable shopping in person again. And while that in-person traffic is now even better than it was before the pandemic, she said e-commerce still makes up nearly 15% of Lyla’s revenues.

“Store pickups have slowed down because people are excited to get out, but people are still utilizing it,” Wauters said.

That return to in-person shopping is happening throughout the Dallas-Fort Worth metroplex, according to Texas-based commercial real estate firm Weitzman.

“We’re in a much better place today [than March 2020],” Weitzman Executive Vice President Michelle Caplan said during the firm’s annual forecast that was live-streamed in January. “We’ve navigated risk and achieved one of the greatest market turnarounds ever.” Click to read more at www.communityimpact.com.