Changing the Way We Work

The invention of smart phones came with an exponential amount of change to the way people work; email became portable and acquiring information became instantaneous. This advance in technology almost instantly created a mobile labor pool with the ability to work outside of the confines of the office. No longer tethered to their desks, employees began to spend more and more time during "work hours" working from their home, coffee shops, or directly with clients at their office locations. No one is taking advantage of this freedom more than the Generation Y and Millennial demographic. This demographic (birth years from 1980 to early to 2000's) is currently 74 million strong in the US. In less than five years, this age group will make up roughly 50% of the entire workforce. While they may not want to conform to the antiquated punch in and punch out model of working in an [...]

2018-04-19T13:24:21-05:00November 17th, 2015|Commentary, Featured|

One Millennial’s Take on the Press

If you open the newspaper on any given day, undoubtedly, you will come across an article about “Millennials.” A Millennial is loosely defined as those born between 1980 and 2000 (after Generation X and synonymous with Generation Y). There are demographers that argue this generation group stops at 1996 and those that coined “Generation 9/11” as individuals between the ages of 10 and 20 years old on September 11, 2001. I am on the upper end of that definition, and I certainly remember September 11th very well, but I offer this piece as one man’s... scratch that… one Millennial’s take on the press… and the research. Companies across North America spend hundreds of thousands of dollars to pay professionals (mostly Baby Boomers and Gen Xers) to decipher the trends of the coming “Millennial Wave.” The wave is here, and according to Cushman & Wakefield Global Business Consulting’s publication Facing the [...]

2018-04-19T13:24:21-05:00October 2nd, 2015|Commentary, Featured|

Location! Timing! Demographics!

For 36 years I have enjoyed the opportunity to work in the commercial real estate industry. It is interesting to work on all types of transactions including leases, sales, and investments. In this business, one has the opportunity to meet many people in a variety of businesses and work with other great real estate professionals. No matter how much experience one has in this industry, there is always something new to learn and ways to improve. There are also those things which are said and repeated by people which real estate professionals need to question and correct those who say it. Now is the time to change the oldest saying. I am speaking about those words you have heard hundreds of time come out of the mouths of so many, real estate is all about “location, location, location”. Ask yourself, what does that mean? Whenever I ask someone to explain [...]

2018-04-19T13:24:22-05:00August 17th, 2015|Commentary, Featured|

Economic Update: Fed Time Is Coming

After last week’s Federal Reserve Open Market Committee meeting it is clear that employment data will be the trigger for deciding when the central bank begins to raise interest rates. We think it is highly likely that the first interest rate increase will come in September as long as the employment data remains strong. This will not be negative for commercial real estate values because the reason for higher interest rates is an improving economy with strong employment growth. This economic environment will lead to stronger demand for all types of commercial real estate. Please feel free to share this report with your colleagues. Click to open PDF You can also find this report on our web site HERE

2018-04-19T13:24:22-05:00August 3rd, 2015|Commentary, Featured|

Remember When There Was A Summer Break

I came to the office this Monday morning already behind on the things I need to get done. Not because I slacked off last week, but because over the week-end the work continues! I have a full week starting with a day-trip to Los Angeles, followed by a packed schedule of conference calls, client meetings, tours, running analyses and an entire complement of activities that drive value to our clients on a day-to-day basis. I feel incredibly fortunate to be doing what I do - especially in DFW. I remember the days when June would hit, the work weeks would slow down and you didn’t feel so guilty if you took a day away to spend with family, hit the golf course with friends or even took a summer trip-of-a-lifetime Alaskan fishing expedition (ok, so I did this recently, but you would have too!) The commercial real estate market is [...]

2018-04-19T13:24:22-05:00July 29th, 2015|Commentary, Featured|

Strategies For Working With Procurement Specialists

“The good news is our business unit leaders and functional managers are squarely in your corner. You’ve clearly elevated yourselves above your competitors and you’ve presented a compelling case as to why your offering is the best for us, but I will not allow them to go forward with you.” This is what a prospective client’s procurement specialist once told me following a two-month courtship. And for business pursuit leaders, these words are chilling. My team had successfully won the hearts and minds of the company’s business associates. However, their procurement team was preventing us from moving forward with a highly coveted assignment. Why? Because I had failed to connect some vitally important dots until it was almost too late. This pursuit began with a site tour that gave us a front-row seat to the issues the client was experiencing, as well as a chance to start developing a personal [...]

2018-04-19T13:24:22-05:00July 21st, 2015|Commentary, Featured|

No End In Sight For Vibrant DFW

The renaissance of the Dallas-Fort Worth market continues in full swing as the market attracts high profile, evermore diversifying companies and residents to the market. A few high points that illustrate the market strength include the jobs pace – 136,900 job added in 2014 and a similar pace in 2015. Wages buck the national trend as well increasing by 4.1% year over year. By 2018, Moody’s predicts DFW will lead the nation in cumulative growth by 730,000 residents and 480,000 new jobs. These factors added together equal a massive swell in demand for housing. On the homebuilding side, we have fallen behind greatly on the necessary supply of developed lots required to keep home inventories up. Therefore, more rentals will be required to house the new participants we welcome to this thriving, expanding economy. As we wrap up the first half the year, we stand at a 5.1 percent vacancy [...]

2015-07-07T14:02:02-05:00July 7th, 2015|Commentary, Featured|

Industrial Real Estate 911

It was 7:15 am on recent Sunday morning and I was sitting at my desk at home when I received a call from one of our long time clients from New York. I answered and ask him if everything was OK and he told me it was not. Their 350,000 sq. ft. distribution center in Farmer’s Branch had just been hit by a tornado and was damaged pretty bad. He asked if I would go to the building and meet with his local manager to help him deal with the disaster. When I arrived about 45 minutes later, trees were uprooted with broken limbs everywhere; large pieces of the roof and the huge ventilation fans were spread across the parking lots in front of the building and all along Valwood Parkway. When I got inside there wasn’t much damage in their 50,000 sq. ft. two-story office, but the warehouse was [...]

2018-04-19T13:24:22-05:00June 30th, 2015|Commentary, Featured|

The Impact of Intermodal Rail on DFW

As I read my emails today I noticed another announcement of an additional 600,000 square feet of distribution/warehouse space being offered to the market. It reinforces the amazing run of development and leasing activity that has occurred the past two years in the Dallas-Fort Worth (DFW) area. DFW’s distribution market had a positive net absorption of 6 million square feet of industrial space in the 1st Quarter of 2015. This total ranked #1 in the USA ahead of Chicago, Atlanta and the Inland Empire/Northern California areas which have also rank in the top five of markets realizing significant growth the past two years. The speed to market of product is extremely important for corporations worldwide and supply chain professionals are daily investigating a better way to deliver product to the end user. Trucks have been the major mover of goods for domestic distribution, however with the industry having an average [...]

2018-04-19T13:24:23-05:00June 10th, 2015|Commentary, Featured|

Cushman & Wakefield Retail: What makes up a relevant consumer experience?

As you may have noticed there are less traditional shopping centers being built today than 10 years ago and many are being torn down, back-filled with non-traditional retail uses or are slowly declining into obsolescence. You may know of some that were torn down and replaced with an apartment project, have been backfilled with self-storage, a church or a medical user, or you drive by and wonder why it’s still there! What you may not realize is that you are witnessing a major disruption in the retail industry caused by the Internet / technology and demographic shifts. Consumers today are demanding something different than what the old retail model provided. So what are consumers today demanding? They still want the same goods and services, but they want to acquire and consume them differently. As such, shopping centers today have become either “experientially relevant” or “experientially obsolete”. While there are still [...]

2015-06-02T17:15:57-05:00June 2nd, 2015|Commentary, Featured|