Posts Tagged ‘Super Bowl’

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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Market expectations and reality

January 14, 2011
Notes from our researcher, Steve Triolet

2010 has come and gone, and like many years, there has been a stark contrast between what we thought was going to happen and what really happened.  This holds true for the Dallas Cowboys 2010 season (with their Super Bowl aspirations before the season began) and for the Dallas office market (which was expected to perform poorly throughout the year).

When I look back at both, there’s one large parallel between the two – they both changed dramatically halfway through.  For the Cowboys, did anyone still have any hope of anything positive happening after a one and seven start?  The coaching change did help, the cowboys didn’t go undefeated thereafter, but they were competitive for the remainder of the season.  For the Dallas office market, things looked relatively bleak at the beginning of 2010.  The recession which, had been slow to hit Dallas in comparison to most parts of the country, was still weighing heavily on the commercial real estate sector. For many in the business world there was a secret fear that the worst for Dallas was still yet to come – that we would be as adversely impacted as the rest of the country, but just at a later date.

Dallas was certainly impacted by the national recession.  At mid-year, the total vacancy rate for Class A & B office product was 24.8 percent and the total net absorption was a negative 914,343 square feet (downsizing by tech companies in the Richardson/Plano area being the largest contributors).  Average asking rental rates were in a steady decline, hovering at $20.72 per square foot (full service gross).

In the second half of the year, however, due to a combination of no new office construction, modest job growth, corporate relocations, and an increase in leasing activity, the market has appeared to have turned the corner.  The total vacancy rate at year-end was 23.6 percent, net absorption for the year was a positive 479,116 square feet and rental rates, though not yet rising on a weighted average basis, have stabilized at $20.34 per square foot.  Rents are actually showing the first signs of increase with a handful of landlords raising their on properties that have seen significant rises in occupancy.  Given all the available facts, things look better for 2011 whether you’re a Cowboys fan or just a member of the Dallas business community.

One month and counting

January 8, 2011

It’s one month and counting until the Big Game, and the activity is already starting to heat up in the new year.  Check back with us on Monday for more news as we take a look back at what happened in real estate in 2010.

And what about that exciting news for the Cowboys announced yesterday?  Maybe 2011 will be their year.

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.

This is just the beginning

March 31, 2010

I know I’m supposed to talk about real estate and football, but I can’t help myself when it comes to the NCAA basketball tournament.  My first college basketball experience was in 1986 when my dad took me to the Final Four at Reunion Arena in Dallas.  We saw the Duke Blue Devils, Louisville Cardinals, LSU Tigers, and Kansas Jayhawks compete.  I fell in love with the Final Four at first sight.

This past weekend my dad and I went to Houston to see my alma mater, Duke, take on the Baylor Bears.  Sitting next to my dad watching John Scheyer, Kyle Singler and Nolan Smith brought back memories of an 11-year-old kid sitting next to his dad watching Johnny Dawkins, Quin Snyder, Danny Ferry, and Tommy Amaker. 

The Final Four is a lot like the Super Bowl.  There’s hype, marketing, high ticket prices, rabid fans, and most importantly, a champion.  Jerry Jones and his team will bring the NCAA Champion to North Texas in 2014.  The 2011 Super Bowl is just the start of what Cowboy Stadium will bring to North Texas and my clients.  Thanks to all the hard work by the team who put together the plans for the stadium, we have a first-class facility to serve the citizens of North Texas for many years.

Jeff Staubach and Roger Staubach at the Elite 8 game March 2010

 

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.