Posts Tagged ‘Jones Lang LaSalle’

Predicting the Super Bowl champ by square feet not yardage!

February 3, 2011

Here’s a little peek at a fun news release that went out yesterday regarding Super Bowl XLV.  Read about our brilliant idea of predicting this Sunday’s champ by looking at historical vacancy rates over the past 10 years in the opposing teams’ hometowns.  It was picked up by the Wall Street Journal in yesterday’s Plots and Ploys. 

Here’s the story as it appeared in the Wall Street Journal 


Wall Street Journal
Plots and Ploys

Reading the CRE Leaves

Like many Americans, Roger Staubach thinks he knows who will win the Super Bowl. Like not so many Americans, Mr. Staubach says his analysis is based on comparative office-building vacancies in Green Bay and Pittsburgh.

“You can mark my word: the Packers will prevail,” says Mr. Staubach, who led the Dallas Cowboys to two Super Bowl victories in the 1970s and later became a real-estate tycoon.

Mr. Staubach’s word was relayed in a press release by Jones Lang LaSalle Inc., the commercial-real-estate brokerage where he serves as executive chairman of the Americas. The company says that teams based in cities with a higher percentage of vacant office space have won the Super Bowl “nearly two-thirds of the time since 2000.”

That trend would hand the title to the Packers of Green Bay, Wisc., (office vacancy: 18.9%) over the Steelers of Pittsburgh (office vacancy: 12.1%).

Jeremy Kronman, a broker in Pittsburgh for Jones Lang LaSalle rival CB Richard Ellis Group Inc., wasn’t impressed with his competitor’s forecast. His reasoning for why the Steelers will win: Some of the healthiest office markets in the country—New York City, San Francisco, and Pittsburgh—are also home to three of the most successful Super Bowl teams.

—Anton Troianovski

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Giving back this holiday season

December 11, 2010

Today we had the pleasure of hosting lunch for over 200 members of our Armed Forces with the USO out at DFW Airport as they prepared to depart to the Middle East.  Many of the soldiers were travelling with colleagues they didn’t know, so we wanted to make the transition at the airport as easy as possible.  We kept hearing “thank yous” from them, but it was the Jones Lang LaSalle crew that is truly thankful for their service. 

Private First Class Parker was sitting with this family earlier this week in Mississippi celebrating the holiday, and next week he’ll be patrolling the streets near Kandahar in an armored vehicle subject to IED blasts each day.  While we enjoy the holidays with our families, it’s important not to forget soldiers such as Private First Class Parker’s service, sacrifice, and commitment.  I hope Santa will be making a stop in Kandahar this year.

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.”

How about those Cowboys

September 30, 2010

I predicted a win over Houston; in fact I bet on it and won $10.  I originally thought they would be 12 and 4, now maybe I think 11 and 5.  I don’t want to jinx them, but I think the team is really talented.   

It’s not all bad to start slow, especially for a talented team where the expectations are high.  A slow start keeps you from listening to too much of the hype. Starting 0 and 2 you’re still in the hunt, but you know you have to get focused.  I think we saw that in the Houston game…they were fired up, and that game was a much more coordinated effort.  Now, if they’d gone 0 and 3, that’s tougher.  At 0 and 3, players start pointing fingers and blaming each other, and that’s not where you want to be. 

Right now the offensive line is really good, but we need them to stay healthy.  And we’ve got great receivers…Roy Williams is really good, and I think we’ll see him getting a lot better. And we’ve got Miles Austin and Dez Bryant, too.  So, I think we’ll see more great games ahead.

The Super Bowl countdown continues

September 16, 2010

Last Friday night we kicked off the weekend with the last of the three Super Bowl concerts at the Dallas Cowboys stadium in Arlington.  To celebrate the 50th anniversary of the Cowboys, there was a recap of the Cowboys Super Bowl wins with former Cowboys – myself included – speaking with Brad Sham about those past games.  Emmitt Smith was honored as the latest Hall of Fame inductee, and then there was a concert performance by Tim McGraw.  It was hard to tell whether the crowd was there more  for the Cowboys or for the music – but it was a great evening.  We were able to host a good number of military men and women there in appreciation for everything that they have done for our country, and we had a nice crowd of our employees from Jones Lang LaSalle, too.

Emmitt Smith speaking at the event Friday, September 10

Saturday morning my family and I were up with the sun to participate in the 2010 Start! Heart Walk in downtown Dallas. This year I was proud to serve as the Honorary Chair and was able speak to a big crowd about the importance of heart health.  Jones Lang LaSalle helped raise money, and it felt great to see about 50 of our employees walking the streets of Dallas to support such a great cause.

Walking for a cause

August 30, 2010

This year I’m proud that the American Heart Association asked me to serve as Honorary Chair of the 2010 Start! Heart Walk. Physical fitness has always been such a big influence in my life, and I encourage everyone, including our Jones Lang LaSalle employees to take care of their health by participating in wellness programs. I thought the walk was a great way to combine my interests in fitness with JLL’s passion for community service in Dallas. We’ve put together four teams of walkers to fundraise and combat cardiovascular disease.  Come out and join us for a day of family fun that supports a great cause.

Event Details
September 11, 2010
5K Walk
Victory Park at the American Airlines Center
9:00-11:30 a.m.
Click here to join a team or donate online

Where we are 2 years post merger

July 24, 2010

It was two years ago this month that the Staubach Company merged with Jones Lang LaSalle.  Just like in sports, it’s important to put the team agenda ahead of the personal agenda.  Despite our great 30 years as The Staubach Company, I felt we needed a broader global platform to fully service our clients.  We are very fortunate to have made such a good match with Jones Lang LaSalle.  Two years later, I know it was definitely the right decision.  Here in Dallas, we are all together in one office, and so far the two firms have  transitioned smoothly into one team.

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.