Archive for February, 2010

“Take Me Out to the Ball Game”

February 22, 2010

Last week I was talking about the great quarterbacks who played in the Super Bowl this year and I got to thinking about how long I have known Drew Brees. I met him when our company – still The Staubach Company back then – had a baseball event at Wrigley Field. We had leased a box and brought a number of our clients to the game. When the stadium staff heard our firm was leasing the box, and that I was going to be at the game, they gave me a tour of the stadium.

As I was touring the stadium, they were also giving a tour to a young quarterback from Purdue named Drew Brees and the beautiful blonde he was dating (and would later marry). Drew and I met up in the locker room and chatted a bit about football. I asked him if he wanted to sing the 7th inning stretch with me. (Harry Carrey used to sing the 7th Inning Stretch for the Chicago Cubs, so since he died they have had celebrities do it.) The woman from Wrigley Field that was touring us around pulled me off to the side and asked, “Hey, you want to do that by yourself…don’t ya?” I told her I didn’t want to do it at all − I can’t sing. So I told Drew I needed someone else to help take the blame for the bad singing. He said he would love to do it so Drew and I sang “Take Me Out to the Ball Game” together.

When I was in Miami for the Super Bowl a couple weeks back, I met Brittany Brees, and she asked me if I remembered meeting her at Wrigley Field. I said, “Golly Brittany, I was hoping you would remember me.

This last year’s Super Bowl showed what a team can do.

February 15, 2010

I think this last year’s Super Bowl showed what a team can do.  The Saints got off to a fast start and were undefeated for a while.  You know, when you lose that first game you want to make sure it’s not the playoffs.  I think when they lost to the Cowboys, they really learned a lot about the things they had to do to improve, especially in the big games – and it paid off in the play-offs.  The Saints took some chances and gambled on defense and made some big plays, both against the Vikings and Colts. It showed that they are a very well-coached team. Obviously, the two plays in the second half made the difference – the onside kick and the interception.  The Saints saw an opportunity from the Colts film and capitalized on it.  Then that interception…When Tracy Porter saw Reggie Wayne break inside, he anticipated that they were going for the quick first down.  As soon as Peyton started to throw the ball, Porter jumped the route in time for the interception.  When he did that, it was just perfect timing.  Overall, just a great game!

This Super Bowl was played by two well-versed teams that were led by quarterbacks who play as good a game as any quarterbacks have ever played in the NFL – and they are also great people.  The atmosphere, before and after the game, was about how Drew and the team relate to the City of New Orleans.  When the Cowboys won the Super Bowl, I think Dallas was really proud, but there is something special about what’s taken place in New Orleans.  With all that New Orleans has been through, it’s really satisfying to see how they have come back as a community.  It is great to see how the city has supported the Saints – and to see how the Saints have supported New Orleans.

The story of this Super Bowl is going to be about how the win is for New Orleans, not just being in the Super Bowl for the first time, but winning it.  It is really such a great thing for the City to have this win after all they have been through.  Both Peyton Manning and Drew Brees are strong representatives of their cities as well as of their teams.  I was caught in the middle of who to root for because I have known the Manning family forever.  Archie and I were contemporaries and I met the kids when they were in high school, so I was caught with mixed emotions.  But the way it turned out with New Orleans was great.  I bet probably even the Colts fans had a feeling inside that said, “Hey listen, if we’re going to lose to somebody, let’s lose to them.”

This past weekend’s NBA All-Star game is an indication of what the new Stadium will mean for North Texas – over 100,000 fans in the stadium with all that excitement just shows what we have to look forward to next year.

How will the Super Bowl bolster commercial real estate?

February 15, 2010

We’ve all heard a lot about how much money the Super Bowl can bring to its hosting city, and I know we all want a piece of the pie.  The year 2011 will bring a national focus to North Texas, and will certainly be a benefit to the area.
 
What does this mean for commercial real estate? From listening to what my clients and prospects say, there will be many companies directly reaping the benefits of added jobs and excess capital brought to the area by Super Bowl XLV. If you consider what it takes to pull off an event of this magnitude; small to medium sized businesses will be bolstered by the procurement needs of the Super Bowl.  Everything from audio/visual to event planning, and food services to set design will be needed throughout the year and will in turn create a need for additional space for warehousing and offices in the surrounding area. 
 
Will we see a huge increase in the numbers that Miami saw with this past year’s Super Bowl?  It’s too soon to tell.  However, we can count on one thing – anything we see dollar-wise and job-wise rolling in will have a positive effect in North Texas; not only for the economy, but for the real estate industry as well.

What’s the impact of a Super Bowl, economically speaking?

February 15, 2010

Notes from our researcher, Steve Triolet
There’s been plenty of debate going on over the years about how much a city gains in economic growth by winning the golden ticket to host a Super Bowl. The figures are painted with a broad brush and vary significantly whether they are quoted by The NFL, an accounting firm or an economist.

The NFL claims $400 million was the magic number back in 2007 for Miami, and Arizona scratched off a $500 million lotto ticket in 2008. Keep in mind though; times were good back in ’07 and ’08. Really good (or so we thought).

PricewaterhouseCoopers estimates the 2010 game totaled out at $153 million in gained economic growth for South Florida; dropping their estimate from their 2007 figure, which they estimate brought in $195 million. Why the $42 million dollar difference? Well, we are in a recession after all.  

Some economists are arguing that the impact is much lower still.  Victor Matheson, a Holy Cross economics professor—who co-authored a study back in 2006 about this very topic—estimated that the absolute highest economic impact was around $90 million; with the low-end impact estimate falling in the $30-40 million range.  

Regardless of which number sounds right to you, there’s no doubt that hosting the big game brings in the big bucks. It’s no wonder Jerry Jones built the new Cowboy’s stadium this past year in order to bring North Texas into the spotlight. Was the $40 million TV worth it? Well, we’ll let you decide.

As our conversation progresses over the next year, we will delve deeper into the numbers to see what assumptions are behind this data.  The burning question is how will North Texas stack up? After all, Super Bowl XLV is projecting 30,000 more fans will pile into the Dallas-Fort Worth area next year than Miami saw the weekend of February 7, 2010. As the saying goes, everything is bigger in Texas. Let’s hope that holds true for the value we realize this coming year.

Countdown to Super Bowl XLV

February 8, 2010

The countdown has officially begun to the 2011 North Texas Super Bowl, being hosted in the brand-new Cowboys stadium in Arlington.  We’re looking forward to having you join us for a year-long journey that takes you behind the scenes and shows you what it takes to pull off an event of this magnitude.  We’ll also tell you about the impact the North Texas economy will experience as it hosts the football nation the weekend of February 5-6, 2011.

Along the way, you’ll hear regularly from Roger Staubach, Jones Lang LaSalle’s Executive Chairman for the Americas, NFL hall-of-famer and four-time participant in The Big Game.  Roger’s blog contributions will include behind-the-scenes intelligence on what it took to win the 2011 Super Bowl contract—he chaired the North Texas bid committee—as well as reports on special events and fundraising progress, even some flashbacks of his four Super Bowls and other football legends such as his original “Hail Mary” pass.  Roger will be joined by some guest bloggers that you won’t want to miss!

You’ll also hear from Jeff Staubach, Roger’s son and a Senior Vice President at Jones Lang LaSalle, who will analyze the anticipated business and economic impacts of Super Bowl XLV on North Texas.  Jeff will be blogging regularly on everything from real estate perspectives and labor and employment trends to retail sales and airport logistics.  We hope he’ll have the opportunity to talk about a few big businesses heading south to the great state of Texas. 

So whether you’re looking for business analysis or just want to soak up the football commentary, join us right here every Monday as we take you inside the week’s hot topics.