60x80_Fall2016_FOR_FLIPBOOK_Neat

A look at the 4,800 square miles that are Dallas – Fort Worth

Live
Work
Play

A JLL publication

Growing
density in DFW

AT THE INTERSECTION
OF WORK AND LIFE

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A Letter from

5the publisher

Every day we're giving people a 9 16 20
reason to move to Dallas/Fort
Worth. Our economic diversity, 13 16 AT THE INTERSECTION OF TODAY
strong employment pool, and enticing AND THE FUTURE
incentives for relocating headquarters TABLE OF Interview with Sally Bane,
are helping to make all corners of the CONTENTS Executive Director of Economic
metroplex larger and denser. Over the Development for the City of
past six years, nearly 600,000 jobs have 4 SUBURBAN TO URBAN Plano
been added within our region across a A look at the growing urbanization
variety of industries. of the Dallas suburbs 20 FORTY YEARS
R oger Staubach - Looking back,
The outlying areas of DFW, which 9 WHY THE SUBURBS moving forward
were traditionally the feeder stops to Top 3 reasons companies are
the downtown areas of Dallas and moving toward the suburbs 22 WE'VE GOT THE EATS
Fort Worth, have become destinations A glimpse into a variety of
for commuters, like Las Colinas and 10 ON THE CORNER standout eating establishments
CityLine in Richardson. A new wave A prime destination for urban
of live and play amenities are following explorers and suburban seekers 24 DFW SECTOR WATCH
suit, capitalizing on the influx of JLL experts talk about what is
people working and making these 13 COMMUNITY SPOTLIGHT happening in each sector of
submarkets their home; with new retail A look at North Texas Food Bank DFW's commercial real estate
and flourishing multifamily/mixed- market
use properties being delivered. As a 14 STACKED
homegrown, Dallas kid, don't get me Frisco's The Star takes center stage 27 MEET THE STAFF
wrong - there will never be a substitute As they share their favorite DFW
for the allure of living and working hotspots
within the urban markets of DFW's
downtown areas. New amenities and
offices are breaking ground here as well,
such as The Union in downtown Dallas
and Frost Tower in Fort Worth, but
the strengthening and densification of
our metroplex as a whole is something
that can't be denied.

This is a testament to the planning and
foresight by civic leaders, corporate
decision makers and developers focused
on serving the needs of their respective
residents and clients. There's never been
a better time to do business in DFW!

Jeff Staubach

President, South Central Region
JLL

DENTON

CORINTH frisco mckinney
allen
HIGHLAND Sam Rayburn Tollway
VILLAGE
Dallas North Tollway PLANO
lewisville
flowermound

SOUTHLAKE Grapevine CARROLLTON RICHARDSON
Lake
ADDISON
GRAPEVINE FARMERS
BRANCH
garland

Dallas/Fort Worth IRVING Lake Ray
International Hubbard
Airport

EULESS

HURST

DALLAS

mesquite

ARLINGTON grand prairie

oak cliff

SUBURBAN Dallas-Fort Worth has seen morning and drive to higher
TO URBAN tremendous population growth density employment centers either
over the last several decades. On in the suburbs or the urban core. As
Tipping Point average, we welcome upward of such, these bedroom communities
How DFW’s growth is 150,000 new residents each year. are quiet during the day, with little
transforming the suburbs To accommodate this growth, activity or vibrancy.
into urban markets the community has consistently
expanded its infrastructure as In contrast, the employment centers,
4 pockets of the metroplex have filled be they suburban or urban, almost
out, built up, and become denser. always have more action going on.
This growth has helped many areas As the environment becomes more
reach a tipping point, driving an urban, higher densities are common,
evolution in our built environment with people who live, work, shop,
from the traditional suburb to and play all in one location. So how
denser, more urban enclaves. is this move toward higher densities
playing out in DFW? Let’s look at
As a quick review, the traditional a few areas.
suburb in DFW is no different than
the rest of the United States. Mostly We'll take a look at these three, key
described as a bedroom community, areas and discuss each in the order
people leave their homes in the they were developed.

Through the 1980s and into the ’90s, Las Colinas
was in the path of DFW’s economic and physical
expansion. Quite simply, it was the “perfect”
corporate location.

LAS COLINAS: LET'S CALL IT LEGACY 1.0 While today’s live, work, shop, North Tollway extended just north
and play environment did not fully of there.
The planning for Las Colinas goes come to fruition in this era, it was
back to the 1970s. At the time, the a start, and at the time, Las Colinas As the 1990s began, companies
Carpenter Ranch was a huge swath was the cutting edge of master like JCPenney, HP, and Dr.
of land between Dallas and the new planned community development. Pepper Snapple moved further
international airport. The timing As new commercial areas continue north to establish large corporate
was right on many fronts to create a to emerge in DFW in response campuses. Land for business
new development area. Our region to our growth and infrastructure and housing development was
was growing fast. The new airport improvements, market forces have plentiful. Combine this with
(call that infrastructure) became the shifted development in Las Colinas DFW’s economic prosperity and
anchor for Dallas’ western edge, to a more suburban character the 1994 extension of the Tollway
and a renaissance was taking place with projects like Cypress Waters. to Headquarters Drive, and you had
in new community development in What is clear, however, is that Las the ingredients necessary to fuel a
places like Mission Viejo and Irvine Colinas remains a solid business development boom that stretched
Ranch in southern California, and residential location and is in the boundaries further north.
Highlands Ranch near Denver, and the path of growth. Today, that
The Woodlands in Houston. growth is taking the form of infill In these early years, commercial
development at higher densities. development was skewed to
While many of these places led with Recently, DART’s rapid rail was large, internal-focused corporate
housing, early master planning introduced to serve the Urban campuses. These employee enclaves
recognized that they were in the Center and run between DFW even had on-site cafeterias to serve
path of growth, saw the value of International Airport and Dallas’ the daily needs of the workers and
urban densities and planned for a urban core. While it will take years limit the need to move off-campus.
variety of significant commercial to see the long-term benefits of Who says Google and Facebook
uses. In 1980, the land holdings for improvements like this, it sets the
Las Colinas totaled 12,000 acres, stage for Las Colinas 2.0. are revolutionizing the employee
and the plans were forged for Las experience?
Colinas and Williams Square – LEGACY: THE CENTER OF THE NORTH DALLAS
Legacy 1.0. WORKFORCE Because of Legacy’s strategic
location near ample housing, good
Through the 1980s and into '90s, The wheels were set in motion schools and strong regional access,
Las Colinas was in the path of decades ago. In hindsight, it is easy multi-tenant office space took off
DFW’s economic and physical to see Dallas’ consistent northward to serve employers who wanted
expansion. Quite simply, it was the growth, but it may not have been the same environment. By the
“perfect” corporate location. It was so obvious back in the day. In the
close to new, high quality housing early 1980s, the Galleria mixed-use 5
and offered a variety of office space development defined the northern
options, including urban densities in suburbs, Then, in 1987, the Dallas
Williams Square, as well as an easy
run to the new airport for traveling
executives.

Legacy may define the classic “edge
city” and what many consider the
successful live, work, shop, and play
environment.

Corporate HQ relocations through the decades

1923 1976 Associates 1984 1986 1994
Corporation of
The Dr Pepper Company Kimberly-Clark relocates Greyhound Lines leaves Pizza Hut leaves Kansas
moves from Waco to Dallas. America national HQ HQ from Wisconsin to Minnesota for Dallas and moves into first DFW
2015 Dr Pepper Snapple
Dallas HQ location
moves HQ to Plano, TX
GTE Las
moves to Las Colinas 1990 Colinas HQ

    

1956 Boy Scouts national 1985 1987 Nortel campus in
HQ relocates to 1978 Richardson
TI opens in Las Colinas BNSF moves HQ from Minnesota to Fort JC Penney makes
Richardson Worth move from New York 1989 Adams Golf moved
1979 from Abilene
to Dallas

American Airlines Exxon HQ moves from New York
moves HQ from New to Dallas
York City to Dallas.

6 SUBURBAN TO URBAN

early 2000s, Legacy had expanded Looking ahead, growth will take the population has expanded north, the
geographically and had become greater Legacy area to more than 47 corridor has evolved into a diverse
denser, with a true town center million square feet of office space job center.
taking shape. At the same time, and 12,000+ apartment units over
North Dallas’ growing white collar the next few years. This is a great The newest large-scale project in
workforce, between the Tollway boon, but this success is also Legacy’s this area is CityLine. Breaking
and Central Expressway goalposts, greatest challenge. Because it is in ground only a handful of years
hit a critical mass to support the path of growth, it will continue ago, this project is transforming
significant new shopping. While to expand. The question facing this historically suburban area
the creation of Stonebriar Mall and Legacy today is how to manage and into a higher density, mixed-use
the Shops at Willow Bend were guide that growth – which can be development. The first major
large-scale game changers, the accomplished through a variety of relocation, Blue Cross Blue Shield
Shops at Legacy, which came at means, including advancing even of Texas, served as a seed for the
the heyday of lifestyle U.S. retail higher, urban-scale densities for the area and has since been joined by
development, provided the catalyst future of this emerging suburban State Farm and Raytheon.
to evolve Legacy from a suburban “city”.
job center into a higher-density, CityLine has 4 million square feet
urban development model. In CITYLINE: HIDDEN IN PLAIN SIGHT of modern office space in place
many ways, Legacy defines the today, and additional sites that can
classic “edge city” and what many CityLine is located in Richardson, accommodate another 2+ million
consider the successful live, work, near the intersection of I-75 Central square feet. As we know, however,
shop, and play environment for the Expressway and the President it is not all about employment. It
88,000 employees who work in the George Bush Turnpike. In many is also about the other uses that
area. ways, this is not a new location complement the job base and
because it sits at the northern create that “vibe” that is sometimes
Today, greater Legacy includes boundary of I-75, which was hard to achieve that a cohesive
38.5 million square feet of office dubbed Dallas’ “Telecom Corridor” urban-scale project brings. For
space, 9,000 apartment units and in the late 1990s. Like Legacy’s CityLine, 900 apartment units
6.2 million square feet of retail and early days, the development model have recently been delivered, with
restaurant space. for the corridor was traditional current buildout planned for more
suburban campus development. than 3,000 dwellings. Retail and
Those telecom days have passed. As

2010

2002 2006

1998 Federal Express opens Torchmark moves to MoneyGram moves from Minneapolis 2014
North American HQ Dallas from Alabama to Dallas to open HQ
United States HQ was
set up in Dallas 2007 2011

Comerica relocates HQ Fonality relocated HQ to Plano Hilti brings HQ from Oklahoma
from from Los Angeles City to Dallas

Detroit to Dallas CBD

   

2001 2004 2008 2012 2015

Dean Foods relocates its Fortune Celanese opens Fortune 500 AT&T leaves San Antonio for Top Golf leaves Illinois to Toyota brings North American HQ to
500 HQ from Illinois to Dallas HQ in Dallas Dallas HQ open Dallas HQ Dallas from Los Angeles

2009 2013 2017

Interstate Batteries moves to Big Brothers Big Sisters Liberty Mutual plans campus in
Dallas from Kansas City moves from Plano that could bring more than

Philadelphia to Dallas 4,000 workers

7

entertainment has also begun to locations became impediments. "
be added, including Whole Foods, When you have
Eisemann Center, and LOOK As the area continued to such rapid growth,
Cinema, as well as a new 150 room accommodate growth, the leadership
Aloft hotel to serve onsite lodging within each municipality was tasked you have lots of
needs. with being stewards of the areas in revenue to play
question. Utilizing the established with, but it taxes
From an infrastructure standpoint, infrastructure, particularly roads,
the inclusion of DART rail and mass transit, and creative zoning, your existing
improved highway access positions has encouraged densification and infrastructure.
this property to accommodate much proven to be a successful solution
higher densities than what had been to continue growth without the Infrastructure
conceived earlier in this suburban need to geographically expand projects take a long
market. Clearly, CityLine is on further. New developments and
the path to become another urban- redevelopments have been ignited time to create, to
scale employment center, albeit in within new and existing locations,
the suburbs. Over time, it will also like the Galleria and along the LBJ "improve, and to
serve as a hub for new development Freeway. expand.
– and redevelopment – in the
surrounding community. The growing pains are inevitable,
but with strategic planning and
GROWING UP, NOT OUT foresight, key areas across the
In the past, expanding to the metroplex have capitalized on
suburbs was the standard means of lessons learned, increased infill
growth for the metroplex, primarily developments, and have helped
because of the abundance of land. communities to become denser,
Eventually, the growing distance more walkable, and more urbanized.
and amount of traffic to get to these

8 SUBURBAN TO URBAN

WHY THE SUBURBS?

Top three reasons
companies are moving
toward the suburbs.

© Michael Robinson Photography

According to Byron Edgmon,
JLL Managing Director

LIVE | WORK | PLAY

1 Companies of all sizes and types are emphasizing work-life balance as a means of attracting and retaining
talent. Another realization - why have your employees commute an hour to work? Why not locate in the
heart of where all the people are living? A great example is Frisco. Fifteen years ago the population was
33,000. Today, the population has grown 300% topping out at 150,000. Companies are relocating from
out of state and downtown offices to metroplex suburbs to accommodate the desires of the workforce.

2 With the rise of innovative technologies and the desire for work-life balance, traditional office space is
giving way to collaborative workplaces, with team oriented spaces and open environments. Employees
are working remotely, saving companies millions of dollars by downsizing their footprint. Occupancy for
real estate is one desk station for every 1.3 workers. By 2020, the average amount of space per employee
will drop from 400 square feet to 150 square feet. Companies are competing for talent by designing
workplaces with employee amenities such as daycares, fitness centers, shuttle services, and medical clinics.

3 The traditional notion of suburbs being “bedroom communities” is no longer valid. Cities are
making huge capital investments through public and private partnerships in large scale entertainment
venues. Communities with high discretionary incomes commonly invest in entertainment
and social venues, which leads to new business growth opportunities in the community.

9

On the corner RESIDENCES ENTERTAINMENT

Ametropolitan neighborhood with no 7 6 5 43
shortage of gathering spaces and a prime 12
destination for urban explorers and suburban 98
seekers, CityLine offers access to major 10
highways, DART, DFW International airport,
Love Field, abundant parking, hike and bike OUTH CREEK PARKWAY Future
trails and plenty of fresh air. The dream for Development
urban walkability is now a suburban reality.
DevFeulotupr
Nearly 5 million square feet of office
space for blue chip companies like R
State Farm, Raytheon and others
Fernandos Tom Chee Coal Vines
Three outdoor parks with Edoko Tricky Fish Nestle
connectivity to regional trails Jaspers Top Pot Food Court
and nature preserves

12-screen high-end dine-in
AMC Cinema

Wellness office building anchored
by Texas Health Resources and
Children’s Medical Center

125,000 square foot retail center
anchored by Whole Foods Market

150-room ALoft by W Hotels

Entertainment options including
150,000 square feet of restaurant
and retail space

5,000 square foot fitness center

10

CityLine, Richardson's New City Center

RETAIL OFFICE PARKS HOTEL DART

GEORGE BUSH TURNPIKE DevFeulotuprme ent

19 20 21 22 23 24

Future
Multi-family
Development

CITYLINEPDLRANIVOEPARKWAY 18 11 12

17
14 15 16

prme ent 13

RENNER ROAD Corporate Office

N Multi-family

Hotel
Retail

es Good Union Starbucks Smashburger 19 Hopdoddy 22 Bread Zeppelin
Pei Wei 20 Tritip Grill 23 Frost Gelato
FIsh City Grill Modmarket FedEx 21 Chipotle 24 Twig’s Bristro

urt Taco Diner Luna Grill 11

A GLIMPSE AT TRAVIS MCLAUGHLIN
DFW RETAIL
FINISHING CONTRACTORS
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The entire trade area is a CALL FOR A FREE ESTIMATE
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creating distinct urban CALL NOW FOR A FREE CONSULTATION
neighborhoods and the demand
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residents.

Retail, at least in bricks and
mortar, is moving toward

generating an atmosphere that
appeals to shoppers’ senses. People

no longer want just to go out
and buy something, they want
to be somewhere – somewhere
that is “cool.” The focus is on
ramping up the vibrant, thriving
urban cores consisting of cool,
residential multifamily living,
restaurants, shopping, services, and

entertainment.

These urban mixed use projects are
just booming and what is being

built is often exciting and different.
They are creating places where
people want to be.

Mark Newman

Executive Vice President
JLL Retail

12

Community spotlight

A look at North Texas Food Bank, a top-ranked
nonprofit relief organization, providing access to more
than 170,000 meals each day for hungry children,
seniors and families.

NORTH TEXAS In North Texas, more than 853,000 people are considered food insecure. These working parents, seniors
FOOD BANK and even children, might not know where their next healthy meal will come from. The North Texas Food
Bank believes that nourished people create communities that flourish and thrive, which is why they work to
provide healthful foods for our neighbors in need. Each day the NTFB provides access to 170,000 meals for
hungry North Texans, but the true need is for 250,000 meals each day. They are working tirelessly to close the
current meal gap that exists in our community to provide 92 million meals by 2025. There are many ways to
get involved by donating these things:

TIME FUNDS HEALTHFUL FOODS YOUR VOICE

Join the more than 40,000 Make a difference in the lives Host a canned or virtual food drive Spread the word about
volunteers who lend their of hungry children, seniors and encourage donations of items hunger, advocate for the
time and talents to the NTFB and families. $1 provides 3 such as peanut butter, or low sodium
NTFB.
annually. meals goods.

13

91 acres 400,000 sf 2,270 sf
office space largest exterior
of retail, restaurant video board
and office space 25,000 sf in high school
meeting space with football
retail and fitness center

SthTeAstaCrKS UP

Frisco is creating a true urban center with the live, work and play amenities that draw in new residents and top
corporations at staggering rates. There's now a new mega attraction to add to the mix – The Star. This new
development shines as big and bright as Texas – and has football fans of all ages cheering. The new world headquarters
for the Dallas Cowboys encompasses entertainment, retail, and office space.

At a recent Women’s Business Network event hosted by JLL, Executive Vice President and Chief Brand Officer of
the Dallas Cowboys Charlotte Jones Anderson spoke about her role in enhancing and expanding the Dallas Cowboys
brand experience – establishing ties with the North Texas community. When the Cowboys were considering
relocating from their Valley Ranch training facility, there were many contenders in the race including Arlington,
Irving and Frisco. Ultimately, Frisco provided a key component with something near, dear, and deep in the hearts of
most Texans – a growing school district with nine high school football teams ready to hit the field.

14

10,000 SF 300 room
indoor athletic hotel featuring
facility ballroom, guest
tower, and rooftop
patio

The Ford Center at The Star, which serves as an indoor practice facility for the Dallas Cowboys, now also serves as
one of the region’s elite high school stadiums. The stadium is drawing in huge crowds and filling the 12,000 seat
venue on a weekly basis thanks in large part to the landmark partnership between the Dallas Cowboys franchise, the
City of Frisco, and Frisco ISD.

Beyond football, The Star also has office and retail options. Liberty Burger, Mi Cocina, Neighborhood Services,
and many other retailers are expected to open soon. The residents of Frisco and the surrounding area will have no
shortage of new entertainment options. The first high school games have already kicked off for the season and the
high school players are getting the experience of a lifetime. As players take their marks, a new era of live, work, play,
and big footfall in Frisco has risen.

*Sources for this article include www.thestarinfrisco.com, www.friscoisd.org and www.gensler.com

15

AT THE
INTERSECTION
OF TODAY
AND THE FUTURE

Plano's Sally Bane is someone who has seen the growth and urbanization trend from the front lines. As
Executive Director of Economic Development for the City of Plano, she has been involved with more than
100 relocation and expansion projects including such high profile news-makers as Toyota, Liberty Mutual,
JPMorgan Chase and FedEx Office. Her 20 years with the city gives her a vantage point for both past and present.

Left to right: Sally Bane with Bruce D. Glasscock, Plano City Manager; Akio Toyoda,
President and CEO of Toyota Motor Corporation; and Plano Mayor, Harry LaRosiliere

16

60 X 80: IN YOUR 20 YEARS WITH THE CITY certainly goes beyond K-12. This 60 X 80: THE GROWTH IN THE NORTHERN
OF PLANO, WHAT CHANGES HAVE YOU SEEN region has an enormous workforce
THAT STAND OUT? that comes from all of the higher SUBURBS HAS BEEN SO AMAZING; LET'S
education institutions throughout
Bane: Initially, Plano’s growth North Texas. Plano has that, as do TALK ABOUT THE GROWING DENSITY.
strategy was based on a cluster many of our neighbors in Collin
complex; we relied on companies County. There is a pipeline of Bane: I think that Plano has been
in similar industries that would college graduates who come from mindful of the obligation to think
capitalize on the strength of the these 25 universities in the region, ahead. That certainly was true
community. This cluster was who then supply a lot of those about things as fundamental as
primarily telecom and information entry-level, very talented, very infrastructure. So, did we anticipate
services. smart workers that our companies we would need to create more
are seeking. dense clusters for people to live in?
Since then, we have broadened I think we assumed that it would be
business sectors represented in necessary to provide people with
Plano. We have done this very the opportunity to live, work and
purposefully in an effort to insulate play within a reasonable distance.
the community from any economic
downturns that any one sector 60 X 80: WHEN ATTRACTING COMPANIES 60 X 80: TRAFFIC IS WHAT IMMEDIATELY
might experience. So, today we TO THIS REGION, WHAT IS IMPORTANT TO COMES TO MIND.
are very diverse; our industries are THEM?
spread across a number of sectors “Traoffficsuicscaesssy.m”ptom
so we are somewhat insulated from Bane: There are fundamental things
any industry related or any business that any project looks for, but there Bane: The city is wrapping up a
related downturns. are always unique critical elements mobility study in concert with
of the decision for them. So NTTA, TX DOT and a number
60 X 80: WHAT ARE THE BIGGEST although it can vary considerably of existing and future employers
INDUSTRIES IN PLANO NOW? from project to project on a large and also a few cities surrounding
list of things, fundamental for most us. Traffic is a symptom of success.
Bane: One of our biggest strengths is searches is the ability to attract and We know it is part and parcel to the
in business and professional services retain a high quality workforce. fantastic opportunity that some of
- 19-20% of our employment Plano does a great job in that. We
centers around that. We are have a highly educated citizenry these corporate campuses are
very thrilled with that because bringing us. I think the city
projections indicate that this “Fundamental for most is looking for ways right now
business sector will grow a to help increase mobility, and
little over 3% year after year searches is the ability to that study is not quite finished.
the next 10 years. So we have a They are wrapping up some of
high concentration of business attract and retain a high the points on it.
and professional services, as
well as a lot of opportunity for quality workforce, and However, what is really
growth in that sector, and that interesting is that it is not just
has helped us really appeal to a Plano does a great job.” a public obligation to address
number of companies in many mobility. Companies are as
different industries because they with about 55% having a bachelor’s concerned as government is about
are all seeking that highly skilled, degree, and quite frankly, many of getting people where they need
talented and professional business them have advanced degrees. That to be, and for those companies
workforce. is also similar to the communities that means getting them to their
around us, because Plano actually place of business and to their jobs.
60 X 80: WHAT ROLE DOES EDUCATION imports employees from outside our So, some of them are looking at
PLAY IN THE GROWTH OF THE BUSINESS city limits. By definition we are the creative ways in which to help their
FORCE AND HOW DOES IT AFFECT THE opposite of a "bedroom community" people achieve that. That may
ABILITY TO ATTRACT AND RETAIN TALENT? because we import employees to include some unique carpooling
work in this community as opposed opportunities; it may include some
Bane: A good qualified and to a "bedroom community" which special coaches that are private and
talented workforce starts with a sends employees away during the designated coming from pockets
really excellent K-12 system, but it day. of employee concentrations and

17

allowing them to get on this express ground up. It may be clearing the because it is listed consistently as one

bus and do their email while they site entirely, and putting something of the best places to find a job, one

ride in comfort. Flexible hours entirely new in its place. Here’s of the best places to work and one of

is another classic way to address an example of that in the Legacy the best places to raise a family. The

transportation density. Town Center: there was an early accolades never are boring for me,

and they generally come in one

We may also see technology or two per week. I am also not

as a way to address it. Things “Plano remains a terrific worried about labor because
like an app that might help I think we have a really good

in a number of ways to get city in which to live and handle on it. We subscribe
people to and from their place to a very sophisticated service
sof business. raise a family.” that allows us to drill down

to job positions and do some

There’s going to be forecasting on the demand that

conventional as well as some a project may have for that

new and exciting ways in which retailer by the name of Robb & particular job classification: what it

mobility is going to be addressed. Stuckey that was headquartered out is like today and what it will be like

of Florida. In 2008 and 2009, the in 10 years. In most cases, it is all

country experienced a recession, and very positive in terms of having an

60 X 80: LET'S LOOK AHEAD TO THE people were not buying furniture - ample supply of the kind of labor

FUTURE. HOW CLOSE IS PLANO TO BEING especially not expensive furniture that we need.
BUILT OUT? - and this store languished. It was When companies looking at our
no longer the highest and best use
Bane: For the last few years Plano of the corner, so it was demolished area are external to this market, they
has been within residential built and now there today we have the encounter road construction and
out. By classic definition, that Legacy Tower that Trammell Crow that is something we discuss – that is
means less than a 5-year supply built.
of lots to be taken down. The not a lingering concern. Due to the

evolving thinking, however, is that enormous success that we have had

there are other opportunities which with the relocation announcements
include rezoning. Redeveloping
or repurposing sites that may 60 X 80: DO YOU HAVE WORRIES OR recently – Toyota, JPMC, Liberty
originally have been designated for CONCERNS? Mutual, FedEx – when you have
other purposes but may now evolve that concentration of companies
into a residential component. We Bane: I do worry about the cost coming into an area, transportation
probably have about 6% of our environment. As we continue to and labor are topics that you end up
commercial land available for develop and land becomes perhaps talking about. I think because of
development. Having said that, more valuable as a function of our our ability to address very specific
it is really almost impossible to success, I worry about how that cost labor-related questions, people
quantify because a lot of campuses component factors into a location leave without concerns.
in our community are absolutely decision - mostly in the cost of land
going to be undertaking some form or development – things that are 60 X 80: SO, WHAT'S THE FUTURE OF
of redevelopment, and that very out of our control. PLANO?
redevelopment will increase the
density of the commercial space I am not concerned about Bane: We are far from having
in it so we are very far from being transportation. This is absolutely peaked. I think Plano will be a
complete. being addressed. Yes, we are going thriving business center that is
to have more density. That will known throughout the Southwest
mean more cars, which will be an and across the country as a premier
adjustment, but not one I think destination for business and a terrific

60 X 80: DOES THIS MEAN MORE DENSITY? will be difficult; nor do I think it city in which to live and raise a
compares to the congestion you see family.
Bane: The answer to that is yes and in other major metropolitan areas.
no. Because in some cases it will

increase the commercial density, Nor am I worried about labor. This
in other cases it may be removing area continues to see an enormous
entirely what was there and the influx of people coming here
redevelopment may be from the

18

STYLE • SUBSTANCE • SOPHISTICATION

stunning look, legendary location

ANN CUELLAR | Senior Special Events Manager, Certified Wedding Consultant
[t] 214 368 0400 | [d] 469 232 4948 | [email protected]
5954 Luther Lane | Dallas TX | www.dallasparkcities.hilton.com

source: www.plano.gov

PLANO'S SPIN Plano residents not only work, they play. With trail networks that
ON CYCLING extend from Highway 121 down to President George Bush Turnpike,
there are so many ways to explore Plano.

76 40 168
MILES
trails MILES

Approximately 76 miles 40 trails – two newest On-street bicycle routes
of network trails with an trails: Rowlett Trail incorporate 168 miles of
additional 10 miles of loop & Park Boulevard the 2,700 miles of total

trails in parks Overpass roadways in Plano

In addition to bike trails, the City of Plano has implemented a roadway network for on-street 19
bicycle transportation. This network provides riders more access and opportunities to cycle to
and from work as well as for leisure.

JLL's Executive Chairman of do the same.
the Americas Roger Staubach
discusses the upcoming 40th After cementing his Hall of Fame
anniversary of The Staubach legacy, he decided to go into the
Company’s founding and how JLL real estate business full time and
was the perfect fit to increase their started The Staubach Company.
client reach and the overall level of
customer service. “I’d wake up at 2:00 in the morning
worried about opening up an office in
During his NFL off-seasons in the Houston,” he says. “I was intrigued
1970s, Roger Staubach worked with it. It was like an adrenaline rush.
for the Henry S. Miller Company, It was like as an athlete I’d always be
a major brokerage and property worried about the next game, but in a
management company in Dallas- positive way. Real estate was the same
Fort Worth. way. When I look back on it, I kind of
miss that.”
“[Henry S. Miller] was really the
beginning of my business life. I just had Staubach created the building
a great example there – a great mentor,” blocks of the company based off
says Staubach. “The best advice I got in what he learned during his time at
the business was from him. He preached the Henry S. Miller Company, like
a message of integrity and how making establishing a Leadership Council.
the right decisions now would affect the Its goal was to establish best
future. He built a really good firm.” practices and create a collaborative
environment for employees.
Staubach would inevitably go on to
As a Dallas Cowboy

YEARS Holiday card 1978

Looking back, moving forward

20

“Getting the right people in the right "I also was lucky I had a high school football coach that told me I needed
places was critical, but getting the right to play quarterback instead of a defensive back and receiver. I told
people in the right places working him I didn’t want to be quarterback. [Coach] Jim McCarthy told me,
together was the difference when we
started the company,” says Staubach. ‘The reason I want you to be quarterback is I’ve seen your arm playing
“It was an important part of what we baseball, and the other guys listen to you.’ I’m thinking, ‘So what?’
did. It became our culture.” But that changed my life." - Roger Staubach

The Leadership Council itself is a
practice the company still utilizes
today.

“That’s really important – the customer
comes first,” he said. “Our guys have
heard me say that a billion times. You
want to win the business. You want
to do it right, and then the rewards
follow.”

At the time, it was unique to
represent corporations that were
looking for a new facility, but the
Staubach Company was able to
successfully carve its niche in the
DFW market.

“We grew because our customers were And as client demand increased,
really driving us to make sure we could The Staubach Company was able
do the things they were asking us to to find a partner in JLL able to
do,” he said. “I always told everybody accommodate.
that we need to listen to our customers,
and we need to be sure our priorities “When we did the first Commercial
are our customers’ priorities. The Metals deal [during The Staubach
customers drove us to where we were as Company days], the only thing we
The Staubach Company and now they were able to do was their lease,” he
are driving us where we need to be as says. “JLL taught us how to do other
part of JLL.” things. Companies today are realizing
how important real estate is more than
Coming up on the 40th anniversary ever before. They really care more now
of when The Staubach Company about creating great places for their
first started, Staubach says the work employees.”
of his firm, the client successes, and
the accomplishments have exceeded The companies shared the same
his expectations. values – commitment to teamwork,
ethics, and excellence for all clients.
“Well, 40 years is a long time, and it’s JLL was a perfect fit, he says.
been beyond my dreams as far as how
fast we started to grow and where we “These last eight years also have
ended up. Really, the customer has shown that it has been more than
taken us over these 40 years,” said perfect,” Staubach said. “The thing I
Staubach. “Once the customer started am pleased about is it has worked for
asking for more services, we expanded JLL, and it definitely has made sure
our business. They wanted more The Staubach Company has lived up
geography, so we opened more offices.” to its responsibilities. We have to be
sure we can provide more services to our
As The Staubach Company grew, it customers, and we now have services all
formed partnerships and networks, around the world. It’s one company.”
nationally and internationally.
21

WE’VE GOT
THE EATS!

Anyone who has visited DFW knows we are home to a plethora of eating establishments. Below is a mere glimpse
into the variety as we spotlight three standout options.

1 One90 Smoked Meats 2 Cuellar’s Fajita Ranch 3 Ruthie’s Rolling Cafe

WHO WE ARE: One90 Smoked Meats WHO WE ARE: Cuellar’s Fajita Ranch – WHO WE ARE: Ruthie’s Rolling Cafe
from the family who brought you
ESTABLISHED: 2015 El Chico ESTABLISHED 2011

WHERE YOU CAN FIND US: Northeast ESTABLISHED: 2016 WHERE WE ROLL: Our gourmet grilled
Dallas, at Northwest Highway and cheese trucks roll all over town
Easton Road - check us out at: WHERE YOU CAN FIND US: Plano, just off of to both private and public events!
www.one90smokedmeats.com I- 75 and Parker Road Please check our website for daily
www.fajitaranch.com locations:
TYPE OF RESTAURANT: Quick, casual www.ruthiesfoodtrucks.com
TYPE OF RESTAURANT: Ranch-Mex, from
BEST ITEM ON THE MENU: Beef Tenderloin the heart of Texans TYPE OF RESTAURANT: A delectable rolling
Sandwich cafe
WHAT TO EXPECT…Cuellar’s Fajita Ranch
WHAT OUR CUSTOMERS ARE SAYING... offers diners “Texas-Mex” cuisine, SPECIALTY MENU: Gourmet Grilled Cheese
“Incredible business catering lunch defined as Texas ranch casual
today for about 75 employees! cuisine served in a Hill Country PRESS AND PRAISE...We are so proud
Everyone LOVED the brisket, atmosphere. of the kudos and awards received
sausage, chicken, beans, slaw, salad, from clients and media...we have
cherry cobbler, and especially the been named Grilled Cheese Food
banana pudding! Bringing the Truck of the Year by Mobile
smoker was a good upgrade and Cuisine and voted Favorite Food
everyone was so impressed with Truck by SMU Daily Campus
how the food was presented as well paper....D Magazine named our
as the taste. You can’t go wrong award-winning grilled cheese
with them! Fantastic!” sandwich “The Boss” one of the 10
Best Dishes of 2013. Description: A
”The best brisket in town. Grab generous scoop of smoky barbecue
a pack to go as well! It heats up brisket sits between layers of thick,
perfectly. My mouth is watering just hot, melting cheddar cheese. The
thinking about that smoked brisket 10-napkin sandwich wonder is held
with that thin layer of rendered together with two pieces of golden
fat that melts in your mouth!” grilled sourdough bread.

22

From live music, to botanical gardens and grand cultural venues, Fort
Worth has it all. Whether you're an art lover or a fan of the Old West,

Fort Worth's got you covered.

FOR THE ART LOVERS FOR THE MUSIC LOVERS

Kimball Art Museum Bass Performance Hall
Sid Richardson Museum Ridglea Theater

The Herd Stagecoach Ballroom

HISTORIC ADVENTURES ADDITIONAL ATTRACTIONS

Stockyards Sundance Square
Billy Bob's Texas Fort Worth Zoo
Log Cabin Village Water Gardens

Planning a visit to Fort Worth?
Discover more at www.fortworth.com

23

CLAY SMITH - RETAIL TORREY LITTLEJOHN - TENANT REP

Retail here and nationally is pretty much unchanged. The sector is still Tenants continue to experience sticker shock. This goes beyond the high
reconciling store locations and performance. For DFW, we are in good rent increases, and now spills over into paying for parking for the first time
shape because limited development continues to drive tenant demand in and increased construction costs for refitting their space. To balance costs,
our fast-growing market. In fact, construction lags the “good ole” days my tenants are looking for ways to become more efficient. The story of
by a wide margin. For example, we delivered 6 to 8 million square feet increasing density is not new, but it is a reality that not all buildings can
annually from 2000 to 2008. Today, it is around 2 million. This lack of accommodate this shift. Even properties built in the late 1990s and 2000s
supply has shopping center occupancy now closing in on 94 percent, with are ill-equipped to accommodate this density. The issue is not merely more
most “good” spaces fully leased. The one sector that is growing to serve employees, it is the increased parking and demands on building systems like
our expanding population is grocery, as new and existing players such as HVAC, elevators, and restrooms. This is a challenge to owners on how to
Winco, Fresh Market, HEB, Tom Thumb, and Albertson’s carve out their make these older assets “competitive”. Lower rents alone will not attract
territories. In contrast, most other formats have been guarded, although tenants to these properties. Rather, new capital investment is necessary
fast-casual restaurants, some junior anchors, and theaters continue to scout to keep these properties marketable to both tenants and investors over the
longer-term.
for opportunities.

MICHAEL SWALDI - LAND TIM JORDAN - CAPITAL MARKETS

Over the past five years we’ve seen a steady rise in pricing across all sectors. As we sit here in the last half of 2016, the capital markets remain strong.
At this point, the rapid increases have begun to stabilize – but it is hard to There is good liquidity in the market, with life companies, CMBS, and
generalize because it depends on a location, land use, and most importantly, banks all continuing to be active. The key driver for our DFW area is
unique site attributes. For single family, land has hit the top, especially in the dynamic growth we are seeing, with job gain of well over 100,000
some northern suburbs, because building economics are now stretching annually fueling all the major property types. The one challenge we see is
affordability. As I say that, pockets are emerging in south and east DFW, construction financing, partly due to the recent “high volatility commercial
like Midlothian, that are affordable, have good public schools, and easy real estate” (HVCRE) banking regulations that seek to balance CRE loan
access to employment centers. In comparison, demand for multifamily land risk. At this point in our cycle, this has helped moderate the development
has slowed as developers are positioned to accommodate today’s pipeline. pipeline across all property types, ensuring that projects with good
In contrast, office, retail, and industrial are in high demand. Actually, I’m sponsorship and solid equity are taking the lead.
glad to be here in DFW. Even though economic cycles come and go, our
growth outlook will continue to make land acquisition and development an
important business ahead.

dfw sector watch
24

JEFF PRICE - MULTIFAMILY CAPITAL SCOTT BOER - PROJECT AND DEVELOPMENT SERVICES

Multifamily development remains brisk in response to unparalleled The market has calmed down quite a bit since last year. For the last few
population and job growth, making DFW one of the top target markets years, the high demand from commercial construction projects, around our
for multifamily investment by domestic and international buyers. While region and nationally, created an environment of rapidly escalating prices
certain submarkets may experience sluggishness in rental rate growth, and labor challenges. While prices are still rising, that curve has flattened.
that is largely due to units delivering prior to job gains. We believe most In addition, competitiveness is returning to the “buy” side of the business,
submarkets will achieve equilibrium in 2018. There is a strong headwind making it easier to identify, procure, and obtain building materials. The
for development – limited site availability, fewer equity options, increasing reason for this, especially in north Texas, is that many of the “mega”
construction costs, and banks tightening their belts due to new HVCRE campus projects that have been underway are nearing completion. This
regulations. Unit absorption and occupancy, however, remain high is freeing up some labor and making materials more available for projects
compared to history. We also believe the number of properties being in other sectors as contractors look to their 2017 to 2018 business plans.
offered for sale has hit an historic high as developers and owners seeking to Although the market will remain hot with sectors like industrial, retail, and
take advantage of a low cap rate / low interest rate environment, as well as health care seeing dynamic growth, budgeting and timing are becoming
owners with debt maturities are seeing now as the optimum time to trade.
more predictable for our clients.

CRAIG JONES - INDUSTRIAL JEFF ECKERT - AGENCY LEASING

DFW continues to be balanced and healthy. Given last year’s large Our market continues to benefit from tremendous job gains. Office
development pipeline, I expected vacancy to rise a percentage-point, to the absorption is above our 15-year average and rents are higher. What is
low-to mid-sevens. Instead, we have been pleasantly surprised by continued interesting is that Class A has accounted for 85 percent of demand over
high demand that has maintained our vacancy near our historic low. This has the last few years. That’s a signal that tenants want quality space – and are
put upward pressure on rents – which is raising the question of affordability willing to pay higher prices. The driver of this is tenants putting a high
as some tenants are seeing 20-to 25-percent bumps at lease renewal. Overall, value on amenity-rich, walkable neighborhoods, and meaningful property
I believe the market will remain balanced for the next 18 months. For amenities. In some ways, human resource departments are also now at the
example, even though there is now a large variety of options in the 200,000 table in making location decisions because of the importance in establishing
square foot to 500,000 square foot range, which might raise some eyebrows, company culture and maximizing talent acquisition and retention. A spin-
active tenants will likely absorb that space. Combine that dynamic with off we are also seeing is capital reinvestment by existing and new owners to
some slowing of construction, few land options, and a prudent development keep buildings competitive. And, while “make-ready” space / prefinished
community and you have the ingredients necessary to power through 2017 suites have been the exception, it is becoming more common to win
tenants that need space quickly.
and into 2018.

25

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Delicious Pies

The Naturally Curly Cook is a personally owned catering and baking operation that fits perfectly into special events

looking for something different. As an in�uisitive chef, I like to explore different ingredients and methods in the kitchen,

investing the time and research into preparing every component of a delicious meal. We specialize in hand-prepared

foods, with simple, natural ingredients.

Stop in to check out
our sweet treats

Come visit us at various farmers markets in

Dallas, and remember us as you make your

preparations this holiday season. Our

scratch kitchen is revving to go with some

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Please check out our website for more \. 903.714.6863
information on where you can find us and
naturallycurlycook.com
about our catering options!

26

1Kristina Alfano dfw hotspots 8lee ann ridley

Mexican Sugar, Plano The Sixty by Eighty crew dishes Kona Grill, NorthPark
“Great margaritas Center
on their go-to HOTSPOTS in DFW “Wine Down
and tacos - even better Sam Rayburn Tollway Wednesdays: 1/2 price
atmosphere!” bottles and apps ‘til 7p.m.”
Dallas North Tollway 1
2April Kaiser 2 9walter bialas

Cru' Food & Wine PLANO Lake House White
Bar, Plano Rock Bar & Grill,
3 Dallas
“Great atmosphere “Relaxed vibe and a
with an excellent wine 4 dog-friendly patio.”

selection!" CARROLLTON 10mary louise gibbons

adrienne mageors ADDISON 5 RICHARDSON Javier’s, Dallas
“A Dallas institution
Hash House a Go Go, 7 FARMERS 6 - some of the best
Plano BRANCH food and drinks (read:
margaritas) in town!”
3“Go for the brunch, stay
for the mimosas!” 11harvey mireles
steve triolet
IRVING 8 Windmill Lounge,
Bent Tree Piano Bar 9 Dallas
& Grill, Dallas “This dive serves some
11 10 of the best old-school
“Low key, live music, 12 cocktails around.”
DALLAS
4Daglelanser/oFuosrtpWouorsr,thand zero 13 12halley terrill
pretension.”
Mot Hai Ba, Dallas
karen wiseman “Cozy and so unique -
the food is insane and a
Mesero, Prestonwood non-traditional take on
“The best patio - looks Vietnamese food.”

5like a resort.” 13lacey pruitt
christian hernandez
Let us know your favorite HOTSPOT Black Ship Little
Haystack Burgers & @jlldallas #DFWhotspot Katana, Dallas
Barely, Richardson “Best sushi in town!”

“Locally owned, 27

6awesome burgers and

great beer selection.”

7sherry demster

54th Street, Irving
“54 beers on tap,

relaxing patio and
awesome fried pickles.”

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