Archive for October, 2010

The ‘Boys are bigger off the field

October 27, 2010

Notes from our researcher, Steve Triolet
The NFL is big business; big names and big plays generate even bigger revenues. The league pulls revenue from numerous sources including television contracts, ticket sales and team merchandising. But, only one team can be “America’s Team” and The Dallas Cowboys have earned the nickname.  The ‘Boys have won five Super Bowl championships, 10 conference championships, 10 division championships and 11 players who have been named to the Pro Bowl Hall of Fame.

However, off the field is where the team truly shines (especially in recent years). In early 2010, Bandera Ventures completed a build-to-suit distribution facility for Dallas Cowboys Merchandising. The consolidation and expansion took them from two facilities to one 400,000 SF location at 2500 Regent Boulevard in Irving. Previously they occupied a 100,000 SF distribution facility and a 44,000 SF headquarters at 4251 W. John Carpenter Freeway.  They were able to complete the expansion because they are the only NFL team to design/market/distribute its own merchandise and their sales are virtually unbeaten.  Since 1979 when the NFL began tracking data, The Dallas Cowboys have consistently been among the fop five teams in merchandise sales. In 2009, Forbes magazine estimated that Tony Romo’s jersey was the most popular jersey in the U.S. with over half a million pieces sold! The Dallas Cowboys are also the only NFL franchise with their own retail chain dedicated exclusively to their own merchandise. Opened in 1996, the mall chain now has 35 retail locations throughout Texas, Oklahoma, Louisiana, and Arkansas. In addition, the apparel can be purchased at over 700 retail outlets in the U.S., including Dillard’s, JC Penney and Academy Sports.

Let’s go Rangers!

October 23, 2010

We all wore our Rangers’ gear today at Jones Lang LaSalle in support of the team.  Let’s finish it off tonight in game six. 

Good luck to Colby Lewis and the Texas Rangers! 

Tony’s fan

October 15, 2010

I’m a big Romo fan and have been for quite a while.  Tony is a big play guy, and you can tell he wants to make plays.  I see him still scrambling when other quarterbacks would have been stopped.  Against the Bears – he threw 51 passes.  Not all were good, but he keeps at it.

People talk about coaching quarterbacks and their style and what works best.  I think you don’t change your DNA as a quarterback; you just get smarter about how you’re doing it.  When I was playing, I ran forward a lot – if I saw the chance for the first down I went for it.  Others scramble more, and there are theories about what works best.   Tony knows what works for him.  Running can be really useful if you know how to use it, and Tony is getting a lot smarter at using it.

I love the Cowboys, and it sure is good to see some other Texas teams doing well.  Good luck to the Rangers on their first ALCS game against the Yankees.

A look at the market – heading into 2011

October 8, 2010

“It’s already the end of the 3rd quarter – and just like the 3rd quarter in football, it is time to see where we stand.  Last week I participated in 2 panel discussions about the market.  One was the 10th Annual North Dallas Chamber of Commerce Real Estate Symposium, and the second was our Jones Lang LaSalle Market Breakfast.  Here are my thoughts.

 Is our local market in recovery yet?  Maybe not quite, but getting pretty close.  In my talk for the North Dallas Chamber I looked at why companies are coming to Texas.  When you compare us to California our pro-business attitude, favorable tax structure and inexpensive housing makes us a clear choice.  That means more businesses locating to Texas, more jobs, more home purchases and greater demand for commercial real estate.  I think we’ll see positive absorption at the end of 2010 which is necessary for our market recovery. 

What submarkets will be strong next year?  We are bullish on Far North Dallas, Las Colinas, Central Expressway, Preston Center and Uptown.  We still see more of a bear market for Richardson/Plano, LBJ Freeway (construction on 635 will hinder this market for a long time), Stemmons Freeway, and the CBD.

We’ll have to see if we stall out at the November elections as people look to see what policy changes there could be for 2011.  There are transactions in the pipeline that have to move forward, but I think it will be 2011 before we see much “new” expansion.”