D CEO April 2024

CRANES STILL FLY THE WHERE

Other markets can sit on the sidelines. Dallas creates its own destiny. And here, commercial real estate continues to perform.

Excellence in Construction and Engineering Award winner Fred Perpall

WHERE VISION MEETS VALUE.

In the dynamic landscape of commercial real estate, precision and foresight are paramount. Whitley Penn stands as your strategic partner, weaving together the financial intricacies that bring your vision to life.

Connect with our advisors by scanning the QR code to connect with an advisor or visit whitleypenn.com today.

The Loop Dallas: A Real Estate Trailblazer

Dedication, tenacity and perseverance are required for public-private partnerships. The Loop Dallas is possible because of a trail-blazing collaboration between the City of Dallas, Dallas County, Texas Department of Transportation and private donors. The result is a $135 million legacy asset and amenity that makes Dallas stand apart when you travel by trail.

The Loop Dallas is connecting Dallas to Dallas in new, exciting ways. The project will link 39 miles of existing, disconnected trails to create a

50-mile circuit around the city and offer residents and visitors a full experience of the city’s diverse landscapes. Nine of those 11 new miles will be complete or under construction in 2024. Trails help walkers, runners and bike riders connect to parks and places to work, shop and dine and are a vital part of urban life. And research shows that for every $1 invested in trails Dallas receives a $50 ROI in economic impact. That’s a trailblazer. theloopdallas.org

The Monarch HALL ParkFinalist for Best New Multifamily Project

As a financial planning and wealth management firm based in Dallas for nearly 50 years, we understand the pride that can only be earned by forging your own way, leading others down innovative paths, and taking calculated risks that allow you to achieve your dreams. Our firm is, and always has been, independent, never answering to a parent company or stockholders with agendas that contradict what is right for clients. Our 16 Certified Financial Planner practitioners remain proudly, fiercely independent, ensuring your needs come first. We sleep well at night, knowing we’ve worked hard to do the right thing for every client, every time. In today’s financial environment of aggregation and consolidation, how independent is your financial advisor?

We create dynamic environments for an evolving world

Elevate your business with the retail experts at SRS.

We pioneered retail tenant representation 38 years ago, so at SRS Real Estate Partners, retail expertise runs deep. That’s why owners, tenants and investors consistently choose SRS as their go-to firm for their retail real estate needs.

Check out the SRS difference at SRSRE.COM

Innovative Spaces. Captivating Places.

31

Congratulations to Steven Levin, Centennial’s founder & CEO, on being named a 2024 Commercial Real Estate Executive of the Year nalist by D CEO

22M

300 Employees

PRESENTS

Taste Addison cordially invites you to an elevated tasting experience brought to you by Chamberlain’s Steak & Fish & a CFBISD hosted culinary competition.

APRIL 26TH

5:30p - 9:00p • Galaxy FBO

Tickets: $25

A portion of the proceeds to benefit: Sack Summer Hunger Program FOR MORE INFORMATION

VISIT:

We create the buildings of tomorrow, so our clients and communities thrive.

the future of health in Dallas

The Texas Tech University Health Sciences Center community shapes the future of health through education, training, and steadfast service. Graduating more health care professionals than any other institution in Texas, our influence reaches beyond the walls of our university.

TTUHSC graduates are passionate about improving access to care and delivering expert-driven service to the people of Dallas and beyond. As one of the largest universities for depth and breadth of health care programs, we are fueling and advancing the health care workforce.

Our determination drives change. We are The Future of Health

The

The Lasting Legacy of Michael Wyatt

about seven years ago, i took an 18-month break from business journalism and worked in communications at Cushman & Wakefield’s Dallas office. I had reported on commercial real estate since 2000, and it was interesting to see the industry from the other side. I also enjoyed getting to know the brokers more and seeing how hard they worked to get deals across the finish line.

Among my C&W colleagues was longtime tenant rep broker Mike Wyatt. Extremely well-read and well-traveled, I could always count on Mike to make me smile by filling me in on some fascinating, esoteric fact. I also saw how he was an exceptionally dedicated mentor who no doubt changed many lives.

The industry was shocked when Mike took his own life last September. Those closest to him knew of his ongoing struggles with depression. His obituary describes him as “a titan of Dallas, consummate gentleman, bastion of civic pride, curious adventurer, attentive listener, dot connector, eternal optimist, history buff, crusader of overlooked causes, loyal friend, and a noble mentor to many.” All 100 percent true. (Find it online and read the whole thing; it beautifully documents a life well lived.)

As part of this year’s Commercial Real Estate Awards program, we created an Industry Impact Award to honor Mike and his many contributions to the city he so deeply loved. (See page 58.) We also hope it will help build awareness of mental health at a time when U.S. rates of depression have reached new highs. The Suicide & Crisis Center of North Texas offers resources if you need help or are concerned about someone who may. Don’t hesitate to seek support.

For now, I’ll leave you with a quote from an interview I once did with Mike: “People in Dallas don’t sit around and wait for things to happen. People in Dallas make things happen. I’m a firm believer in being an ambassador and trying to do what’s best for the city and the region.”

May we all aspire to be able to say the same.

Christine Perez Editor

PHOTOGRAPHY BY ELIZABETH LAVIN

Innovation Awards 2024

on jan. 24, more than 260 innovators , entrepreneurs, and pioneers attended The Innovation Awards, presented by D CEO and Dallas Innovates. The fifth annual event recognized trailblazers who are shaping the future of the region—and beyond. D CEO Editor Christine Perez and Dallas Innovates Editorin-Chief Quincy Preston revealed winners and presented awards, alongside Matt Anderson of Munck Wilson Mandala and Jeff Winton of Pariveda. The program recognized 74 finalists and winners across 17 categories and various company sizes. Honorees included Deven Panchal of AT&T, Pedro Lerma of LERMA/ Agency, Balanced Media Technology, and more.

You can view the full list of winners in the January/February issue of D CEO. Thank you to our title sponsors, Munck Wilson Mandala and Pariveda, for supporting this inspiring event.

Kraig Smith, Linda Silver

Harry LaRosiliere, Mackenzie Huemoeller, Armani Miller-Jackson

Will Edwards, Chrissy Liotta

Trey Bowles

Krystal Wilburn, Tavian Harris

David Bell, Eric Appel

Pedro Lerma

RecNation team

Abby Brookshire, Melissa Plaza

Kim Waiyaboon Roys, Jason Roys

Persuasion Skills: Apologies, Part I

ROGGE DUNN, CEO, ROGGE DUNN GROUP

for years i have been writing articles on persuasion This is my most important article: read it, study it, save it. Trust me, you will use the techniques in this series of articles for the rest of your life.

On a weekly basis your loved ones, friends, and business associates will expect an apology from you. Studies show that even the sincerest apologies are rejected or disbelieved through the psychology of the prism in which the offended person views the apology. This series of articles will help you make persuasive apologies.

When I first read psychological studies regarding apologies, I was blown away by how complex the circumstances are that impact whether apologies are effective or rejected—even when people are sincerely apologizing. This series of articles explain the psychological complexity of apologies, why so many family relationships, friendships, and business associations fall-out permanently, beyond repair.

Just how valuable can an apology be? Colorado law encourages medical professionals to apologize to patients for their mistakes, by preventing an apology to be revealed in court.

Proceed with caution when apologizing. An apology can often make things worse and generate unintended consequences. A perfunctory, clumsy, or late apology can make the victim of our wrongdoing, real or perceived, more upset and compound the problem. Victims’ and transgressors’ differing psychological viewpoints cause apologies—even genuine apologies—to be ignored or rejected. Even worse, they can cause the victim to become more upset by the apology than the original offense. The timing of apologies is also critical.

Innate Instinct to Avoid Apologies

Professor Tyler Okimoto at the University of

Queensland determined that, generally, most people are disinclined to apologize. Psychologically, not apologizing gives them a short-term feel-good because it boosts their self-esteem by concluding they were in the right. Self-preservation is part of our psychological make-up—a primal instinct is to protect ourselves. Whenever we feel threatened, whenever we’re being questioned, whenever we’re being challenged, we are inclined to vigorously defend our position because no one wants to admit they were at fault. Sometimes the psychological desire to defend against a verbal attack is so strong that people sacrifice longstanding relationships rather than apologize. They think that as a matter of principle, I’m not apologizing when I did nothing wrong.

We Don’t Recognize the Hurt We Cause

No one likes to admit they’re at fault. We easily understand our perspective, it’s more difficult to appreciate the hurt the offended person feels. The psychological barriers to apologizing noted above make it easier to deflect, justify our actions, and/or minimize any wrongdoing. We are not wired to apologize, much less take the time to craft a comprehensive and effective apology, so we need to recognize and set aside our inherent, primal barrier to apologizing.

ROGGE DUNN represents companies, executives, financial advisors, and entrepreneurs in business and employment matters.

Clients include the CEOs of American Airlines, Baker Hughes, Beck Group, Blucora, Crow Holdings, Dave & Busters, Gold’s Gym, FedEx, HKS, Texas Motor Speedway, Texas Capital Bancshares, and Texas Tech University, and sports figures like New York Mets manager Buck Showalter, NBA executive Donnie Nelson, and NBA Hall of Fame coach Larry Brown.

Dunn’s corporate clients include Adecco, Beal Bank, Benihana, Cawley Partners, Match.com, Rent-A-Center, and Outback Steakhouse.

In 2021, 2022, 2023 and 2024 Dunn was included in D CEO Magazine’s Dallas 500 list, which recognizes the most influential business leaders in North Texas.

He has been named a Texas Super Lawyer every year that award has been given and recognized as one of the top 100 attorneys in Texas by Texas Monthly (a Thomson Reuters service) and a D Magazine Best Lawyer 15 times.

YOU NEED TO KNOW

A Newcomer’s Mission to Gain Market Share

After arriving from Los Angeles, Douglas Elliman’s regional CEO Stephen Kotler aims to grow the firm into his new hometown’s top residential brokerage.

story by BEN SWANGER portrait by JILL BROUSSARD

Sstephen kotler says dallas is primed for a residential boom. The CEO of brokerage for Douglas Elliman’s Western region uprooted from Los Angeles to Highland Park last fall with his fiancée Callae Brownstein and their two pups, Axel and Lola, to seize an opportunity. The luxury brokerage’s Western region encompasses California, Colorado, Nevada, and Texas, but North Texas shone the brightest. “The move was based solely off the idea that our Dallas business is going to grow—a lot,” he says. “Dallas is the No. 1 city in the country for office construction, which means there are more people moving here, which means there are more houses that people will want to buy.”

Kotler hails from New Jersey; his father worked on multifamily projects in New York City. In 1982, the younger Kotler dropped out of Ithaca College his junior year to follow his dad to Aspen to open Ruthie’s, a restaurant at the base of the famous trail, Ruthie’s Run. But he quickly learned that hospitality operations in a small, snowcapped town wasn’t his speed. So, he ventured to New York to become a broker.

He got his career off the ground with New York City’s largest rental brokerage at the time, J.I. Sopher and Co. In 1991, he joined Douglas Elliman, and several months later, Elliman acquired J.I. Sopher Co., setting Kotler up for immediate success. He found his niche working for Fortune 50 corporations to help them relocate new employees, and his team of 12 brokers

worked on between 300 to 400 transactions a year. In 2005, Kotler got a big break in the form of the New York City apartment building 40 East 66th; he brokered its sale to Vornado for $158 million. Based on the per-unit price— the property had just 45 apartments—it was the largest sale for a multifamily asset in New York ever. After that, Kotler went to Elliman’s Chairman Howard Lorber and said, “I want to manage an office.” Lorber signed on, and Kotler began to run the office in which he worked. “I get antsy to do more,” Kotler says. “I’m always wanting to do something more difficult.”

Kotler built Elliman’s California brokerage from a new player no-name into a powerhouse in just a decade. A year after entering LA, he helped orchestrate Elliman’s purchase of Beverly Hills competitor Teles Properties through an unsolicited offer. At the time of the acquisition, Elliman and Teles had a combined sales volume of $4 billion in California. Douglas Elliman’s gross transaction value in 2023, in 10 states, Washington D.C., the Bahamas, and other international locales, was $34.4 billion with an average sale price at $1.58 million.

His newest challenge is North Texas. “I may use the same playbook from California, but it’s still to be determined,” Kotler says.

Looking at the state of the local market, he is hopeful that housing inventory starts to open up. “I tried to get a crystal ball from Amazon, but they were all out,” he says with a laugh. “But we’re already seeing interest rates fall into the fives in some cases. We think once that stabilizes into the fives, it’s going to free up inventory. Our prediction is that there will be a 50-basis point change by the summer and maybe one more before the election.”

As the market stabilizes in the short term, Kotler is diving into understanding his new hometown—and how Douglas Elliman, which boasts nearly 7,000 agents nationwide, can steal market share from the local brokerages. “When I look at how we grew in Beverly Hills, everyone told me it would be hard to grow our business there, but that’s the story we’re told everywhere we go,” he says. “Dallas is not a short-term move for me. I’m trying to have more success than we did in California—and I’m here to turn Elliman into the best brokerage.”

OUTLOOK State of the Market

The Dallas-Fort Worth housing market started strong in 2024.

According to the RE/ Max National Housing Report, 5,208 homes were sold in January, which is 648 more sales than in January 2023. The jump was the second highest year-over-year increase in the country, just behind Salt Lake City, Utah. Regarding listings, DFW has seen an increase of nearly 41 percent compared to the previous year, and inventory was up almost 79 percent compared to 2023. “We feel the confidence of buyers and sellers is increasing,” Stephen Kotler says. “Business for the first half of the year is going to be moving at a good pace, but once we hit late summer, typically in an election year, we see things start to taper off.” Locally, Kotler says the neighborhoods seeing the most success include Castle Hills, a 4,300-home, 2,900acre master-planned community in Lewisville, and housing around Legacy West in Plano.

1 ACRE PLUS ESTATES LOTS

MARINA

3,014 ACRE MASTER PLANNED COMMUNITY 100 ACRES OF INTERNAL LAKES AS SHOWN HERE PLUS 9 MILES OF FRONTAGE ON LAKE TEXOMA

GOLF CART, HIKE & BIKE TRAILS

THROUGHOUT COMMUNITY

ACTIVE ADULT COMMUNITY

MARGARITAVILLE RESORT

NUMEROUS HOME CHOICES

TOWN CENTER

OVERLOOKING

LAKE GAYLE

CECE COX

CEO

RESOURCE CENTER

as ceo of resource center, cece cox leads one of the largest LGBTQIA+ and HIV/AIDS service organizations in the U.S. She manages a 90-person staff and delivers services to more than 60,000 people a year. “People need to be allowed to self-actualize,” she says. “There are too many LGBTQ individuals living in fear and unable to realize their potential.” Recent achievements include the launch of a $31 million affordable housing development and the growth of a primary medical care practice that prioritizes the LGBTQIA+ community. Cox says she’d like to see public perception of nonprofits change. “They are as vital to our communities and economy as for-profit organizations,” she says, “and worthy of significant investment.”

I would love that turned out to be a beat-down. I was able to evaluate why it wasn’t a fit, and that helped me focus on what does bring me joy and meaning in life.”

I COLLECT: “Bird feathers”

FAVORITE MOVIE:

“Brokeback Mountain The emotion that comes through the screen and the things unsaid bring me to tears every time.”

MUST-READ:

“The Elements of Style by E.B. White”

EDUCATION:

Southern Methodist University (JD), Northwestern University (BS)

FIRST JOB:

“Running the grill and snack bar at a pool in the summer. You still have to serve food with a smile when the air conditioning goes out and it’s 106 degrees outside.”

BEST ADVICE:

“My dad once told me, ‘Keep your nose to the grindstone.’”

TOUGHEST CHALLENGE:

“Purchasing land from four different sellers and working with a team to put together $31 million in financing for Resource Center’s affordable housing development that is LGBTQIA+ affirming.”

KEY STRATEGIES:

“Staying focused and determined on the vision (the long game), and treating everyone with

respect—employees, clients, customers, donors, volunteers, and adversaries.”

DESTINATION OF CHOICE: “I love to visit New Mexico. Hiking all day and a cold drink at night? Yes, please.”

HOBBIES/PASSIONS:

“Exercising outside and joyful morning walks”

FAVORITE THING: “A purple Teletubby figure my mother gave me. It’s a long story, but a special one.”

LAST MEAL:

“I’d choose fried chicken, mashed potatoes, coleslaw, and fudge pecan pie.”

FUN FACT:

“I frequently burst out dancing in my office, especially if I hear a funky groove.”

PIVOTAL MOMENT:

“I once had a job I thought

LOCAL FARE:

“My favorite is Ngon Vietnamese Kitchen on Lower Greenville. It has the tastiest noodle dishes and great peoplewatching on the patio.”

FIRST CAR:

“A pea-green Fiat with no heat or air-conditioning”

SPIRIT ANIMAL:

“The blue heron. It brings the gift of self-reflection.”

ALTERNATE REALITY:

“If I didn’t have my current career, I’d be growing vegetables and teaching kids about healthy eating.”

GUILTY PLEASURE:

“Eating a half-pint of Ben and Jerry’s Chunky Monkey from the carton”

CUSTOM CLOTHES

Alautus Clothing’s Alana Matthews taught herself about fabrics and how to tailor suits.

Next-Level Style in the C-Suite

Alautus Clothing creates high-end, tailored clothing for fashion-minded women execs.

during her time as general counsel for the Dallas Stars, Alana Matthews looked around and noticed that what women wore in male-dominated workplaces mattered. Frustrated by an inability to find clothing for the job that showcased her personal style, she decided to design her own garments, instead. That led to the launch of her brand, Alautus Clothing. “I knew this was an area where I could serve women and help them dress in all the places they work,” Matthews says. “I could help them have an offering that has previously not been focused on or offered. It also aligned with my passion and love of fabrics, details, and empowerment through how you present yourself.” Using fabric sourced from Europe, each item is custom-tailored in New York using consumer-provided measurements. Alautus offers six different products through its website, including dresses, coats and blazers, and trousers ranging from $500 to $800.

—Layten Praytor

Wells Fargo Las Colinas

Local startup Yendo is revolutionizing lending for the financially underserved with a vehicle equity-secured credit card.

dallas-based yendo offers credit cards to customers who can’t qualify through traditional avenues by tapping into the equity of their vehicles. The company, which launched in October 2022, has secured $40 million in equity financing and is growing at a rapid pace. But, for CEO Jordan Miller, it hasn’t been a straight path to success.

story by BEN SWANGER

In 2016, he was a founding employee of Titus Industrial, a logistics and supply-chain concern. By 2019, the company had more than $100 million in annual contracts. During his tenure, Miller helped build a collateral-based lending program to help small business suppliers in Asia overcome working capital constraints. But the pandemic was brutal for Titus, and it eventually broke up and was sold. Afterward, Miller joined forces with former Titus exec George Utkov and now Yendo CTO Daniel Ashy on a new project. “We started wondering how to create collateral-based lending systems for people who don’t qualify for credit—and ultimately landed on the biggest problem: consumer credit,” Miller says.

The trio wanted to help those underserved by financial institutions—about 100 million people in the U.S.—and co-founded Yendo. With about $8.5 million from early investors, including Mark Cuban, the partners could build and launch the product. Halfway through its initial raise, when the product was just a concept, it sold Mastercard on the idea and struck an exclusive partnership to deliver its offering. With some guidance through its R&D journey from Aaron Frank—widely credited as the creator of the Apple Card—Yendo launched its product in October of 2022. In 2023, Yendo grew by 700 percent. “Today, we have thousands of cardholders across 23 states, and by the time 2024 ends, we will be in all 50 states,” Miller says.

Yendo provides comparable rates to Chase Sapphire or Amex Platinum to borrowers who typically wouldn’t qualify for those products, Miller says. “We want to ensure people never go to payday or title loans where they take half of one’s paycheck in interest,” he says.

Yendo’s Mastercard costs $40 a year at an APR of 29.88 percent. And more lies ahead. “We are looking at bank accounts, savings accounts, sending money internationally—the full financial suite,” Miller says. “We want to be the financial service provider for those the financial system has ignored.”

Minutes to everything. Second to none.

With quality as a goal in everything from development and public facilities, to education and recreation, Mansfield is recognized as one of the best places to live, work and play in the country.

WALNUT CREEK COUNTRY CLUB, GOLF LESSONS, HISTORIC DOWNTOWN

Why Monica Christopher Switched Gears to Lead TWU’s Dallas Campus

She broke grantmaking records at Communities Foundation of Texas. Now, the longtime nonprofit exec aims to have a similar impact in education.

story by CHRISTINE PEREZ illustration by JAKE MEYERS

after 15 years with communities foundation of Texas and with a milestone birthday looming, Monica Christopher began exploring new career opportunities late last year. “I thought if I was going to do something different, now was the time to do it,” she says. At the same time, Texas Woman’s University Chancellor Carine Feyten was seeking an inaugural president for the school’s Dallas campus—someone who could elevate its profile, forge partnerships, and help with fundraising. Christopher was a perfect fit.

After all, she had been connecting with people her whole life. Her father, a mechanical engineer, worked for the same company for 45 years. His climb up the corporate ladder often required him to take posts in new towns. “It was very traumatic to move every four years or so, just as I was feeling like I was getting established,” Christopher says. “But in retrospect, it forced me to meet new people and helped me see a lot of different perspectives, which I now really appreciate.”

Ultimately, the family settled in Canton, Ohio, home of the Pro Football Hall of Fame. Like the rest of her family, Christopher loved sports—a passion that only deepened when she attended The Ohio State University. Her dream of becoming a sports journalist brought her to Dallas in 1996 to work as an intern at WFAA-TV. “Dale Hansen had a woman sports reporter on his team at the time, Susie Woodhams, and I followed her around for a whole summer,” Christopher says. “It was great. But the biggest thing I took away from

that experience was that I loved Dallas—the cando attitude of the people, the opportunities, and the weather.”

After earning her degree, she took a job working in community relations for The Dallas Morning News and WFAA, ultimately coordinating more than 150 nonprofit sponsorships and educational and charitable programs. From there, she joined CFT, where she oversaw grantmaking, donor relationships, and North Texas Giving Day. Her drive led to record-breaking gifts and grants. Christopher aims to have a similar impact in her new role at TWU. Founded in 1901 as the Girls Industrial College, it’s the nation’s largest university system focused on women. (Men have been admitted since 1972.) TWU expanded beyond its main campus in Denton in 2011 when it opened a Dallas site that specializes in nursing, other health sciences, and healthcare administration. It also has a center in Houston. Texas legislators established the school’s three campuses as the state’s seventh university system in 2021.

The organization is “very clear about why it exists,” in a market that has bountiful educational options, Christopher says. “I’ve seen in my work that getting a great education is the surest form of poverty intervention,” she says. “TWU provides wraparound support for first-generation college students, single parents, and other nontraditional students. As North Texas and its workforce needs continue to grow, there are gaps that all of us can fill if we work together.”

Seven

The Largest Digital Art Display in Texas

Wicked Bold Chocolate CEO and Comedian Deric Cahill Proves It Pays to Be Funny

if you tune in as one of deric cahill’s 1.1 million tiktok or 300,000 -plus instagram followers, you know that he has irreverent and hilarious takes on life and parenting and an ongoing national comedy tour, with three sold-out shows. But you may have to look a little harder for another of his significant successes: Wicked Bold Chocolate.

The company’s vegan, gluten-free, bite-size squares of 70 percent dark chocolate include just four ingredients and come in flavors like cayenne, hazelnut, and sea salt. The products are in nearly 1,900 retail locations nationwide, including Walmart and Sprouts.

story by WILL MADDOX

But Cahill’s dual successes in chocolate and comedy didn’t come easy. The Boston native (hence, “Wicked,” commonly used as a synonym for “very” in New England) moved to Florida when he was 16 and has long had an entrepreneurial itch. Past ventures include an auto detailing business, a home internet installation service, and a short-lived startup where he sold boxes of dirt with vulgar messages that customers could buy and send to their least favorite neighbor or coworker.

“I’ve learned this over the years: There’s nothing inherently you can’t go do,” Cahill says. “You can do anything. Many people let the fear of striking out or not having enough resources hold them back.”

Fortunately for Cahill, his social media success gave him an advantage over the average aspiring chocolatier: he already had hundreds of thousands of followers—or, as he viewed them, potential customers—who would tune in to social media to watch him and his wife, Brooklynn, make chocolate. Cahill’s banter and reactions in his posts kept things entertaining through the R&D process.

He founded Wicked Bold in 2019 and launched direct-to-consumer and farmers market sales. Three years later, Whole Foods put Cahill’s chocolate in 14 stores. Come 2023, he quit his day job and Walmart and Sprouts came on board as customers. (Whole Foods no longer carries the product.) Wicked Bold reported $50,000 in sales in 2021 and $605,000 last year.

CLEAN BEAN Entrepreneurs

Cahill

Getting the company to this point has been far from rainbows and sunshine, but Cahill says reflection and persistence have been key. “Learning is such a blessing because the only way you can learn is to fall down and scrape your knees,” he says. “I’m not always sure what steps to take, but I’ve learned over the years that any step is the right step. That’s what I do every day–figure out what steps I can take today.”

Deric

and his wife Brooklynn make dairy-free, gluten-free chocolate.

Perks of Doing Business in a Revitalized Historic Downtown

AYAKO SCHUSTER, DIRECTOR OF ECONOMIC DEVELOPMENT, CITY OF GARLAND ASK THE

Downtown Garland has experienced a revitalization in the past few years. What are some of the biggest transformations the city has enjoyed?

The City of Garland facilitated a variety of redevelopment efforts in our Downtown involving extensive collaboration with public and private stakeholders.

Last October, the City unveiled our Downtown Square, a $25 million investment featuring a reimagined pavilion, event lawn, public art, children’s play area and streetscape improvements. The City has also partnered with GroundFloor Development to rehabilitate the historic five-story Garland Bank and Trust building. This is part of the Draper, a $30 million mixed-use, multiphase project that features 155 multifamily units, 26 townhomes, and retail space with Chase Bank as the anchor tenant.

What are some of the most exciting retail and restaurant developments taking place in Downtown Garland?

The transformation of Garland’s historic Square has generated a flurry of unique retail and restaurant concepts that make Garland an enviable destination. Many of our downtown businesses have enjoyed long-term success and remain the social hub of the community. Some of the most exciting developments include State & Main Merchant Groceries & Provisions, The Full Monty Oddities and Antiques, Le Beauty Spa and Café Frida—a speakeasy-style coffee shop inspired by artist Frida Kahlo and accessible via a hidden door inside Scoop N’ Buns! Coming soon to Downtown Garland are Smith Spot BBQ and Fortunate Son, a Newhaven-style pizzeria from the owners of Goodfriend Beer Garden & Burger House.

What are the plans for the historic 519 West State Street building?

Garland’s Downtown is undergoing a renaissance, and this is an exciting time for residents and business owners to witness. The former H.W. Jones Hardware & Furniture Company building was recently added to a select list of sites ready for redevelopment in Downtown. 519 West State Street is a landmark site that offers a rare opportunity to redesign one of the oldest buildings on the Square. Our intent is to issue a request for proposal to engage innovative developers with significant experience in historic preservation and urban design. Preliminary conceptual renderings of 519 West State Street illustrate a premier entertainment venue, reimagined rooftop patio and outdoor seating space.

Has this revitalization made the live/ work/play concept more attractive for those moving to the Dallas area?

Our recent residential developments are designed with modern amenities that embrace flexibility, connection with community and proximity to entertainment and retail sites. Access to transportation is crucial and the Downtown Garland DART Station has been a major amenity for residents living Downtown.

Why is being located in a revitalized historic Downtown Square like Garland’s a good business decision for small businesses?

Garland is known for its authenticity, embracing cultural diversities and unique food destinations. Our businesses reflect our community in performing arts, entertainment, cuisines, outdoor recreation and gathering spaces. Although our population exceeds 250,000, Garland offers big-city amenities with a small-town vibe.

ABOUT THE EXPERT:

Ayako Schuster, director of economic development, was born and raised in Japan. Growing up, she was never interested in the private sector; she always wanted to help people. Once she came to the United States, she attained her graduate degree in applied economics from the University of North Texas. She began an internship with the Garland Chamber of Commerce, which blossomed into a more than 20-year career with the City’s Economic Development team. She welcomes all stakeholders to the table and encourages open discussion about projects, focusing on hitting private stakeholder targets while progressing the community vision. Get started by visiting GarlandEDP.com.

ECONOMIC DEVELOPMENT

Other markets can sit on the sidelines. Dallas creates its own destiny. And here, commercial real estate continues to perform. Take a look at the projects, transactions, and industry professionals leading the way.

Cranes Where the FlyStill

stories by CHRISTINE PEREZ and BEN SWANGER

portraits by KATHY TRAN

Knox Street Development

IN A COLLABORATIVE EFFORT BETWEEN SOME OF DALLAS’ LARGEST INDUSTRY players—including The Retail Connection, Trammell Crow Co., BDT & MSD Partners, Highland Park Village Associates, and Beal Bank—the new Knox Street development is upping the luxury in an already bustling Dallas neighborhood. The mixed-use project will be anchored by a 140-key Auberge Resorts Collection dubbed The Knox and the 48-unit, luxury Knox Residences. Nearby, a nine-story, 150,000-square-foot office building will be the district’s center of business, with ISN Software occupying the top four floors. On the south side of the development, a 27-story, 173-unit multifamily asset will offer luxurious living. And at the base of the three buildings, 100,000 square feet of retail and restaurant space will stretch from end to end. Just steps off the Katy Trail, the project will also feature an acre of green space.

DEAL

Fred Perpall

AS A 12-YEAR-OLD GROWING UP IN THE BAHamas, Fred Perpall spent his summers working with his uncle, mixing cement and lifting blocks at construction sites. When the architect would stop by to check on things, then drive away in his air-conditioned Jaguar, Perpall says, “I’d think to myself, ‘I want that job.’ It led me down the path to where I am today.” He joined The Beck Group as an architect at 24 and today is its CEO. The firm is known for its design-build prowess and constructing some of the region’s most high-impact developments. Looking back at high points from 2023, Perpall points to Thomas Jefferson High School and Walnut Hill International Leadership Academy in Dallas. “My favorite part of my work is the opportunity to impact lives—from our employees to clients to the broader community,” he says. “We do more than build buildings; we build up communities and people, too.”

FINALISTS:

Warren Andres, Andres Construction; Steve French, Pacific Builders

DEVELOPER OF THE YEAR

“The biggest lesson I’ve learned is to keep your head down, chop wood, and leave your ego at the door. Development is a team sport; individual egos only slow down progress.”

Scott Krikorian, TRAMMELL CROW CO.

FINALISTS: Gabriel Barbier-Mueller,

INDUSTRIAL LEASE

DrinkPak

represented by NEWMARK

Santa Clarita-based beverage manufacturing giant DrinkPak spent $452 million on two massive industrial facilities in Fort Worth totaling 2.9 million square feet. Both facilities—Eagle Parkway, developed by Trammell Crow Co., and Carter Park East, developed by Rob Riner Cos., Clarion Partners, and Crow Holdings—are slated to be up and running by the first quarter of 2025 and create 1,000 local jobs with an average annual salary of $70,000. The Eagle Parkway facility will house manufacturing for energy drinks, teas, sodas, waters, hard seltzers, beer, wine, and spirits. The Carter Park East facility will be the company’s first venture into producing coffees, protein drinks, milk, and alt-milk products, including oat, almond, and soy beverag-

BEST COMMERCIAL PROPERTY SALE

es. DrinkPak expects the sites to more than double the brand’s manufacturing output to up to 5 billion cans per year. “Fort Worth was really our opportunity to build the crown jewel in North America of aluminum can facilities,” DrinkPak CEO Nate Patena says. Both facilities will be fully robotic and all vehicles on site will be autono-

mously guided. Newmark represented DrinkPak in the transaction—the largest deal completed in North America of any single occupier of space in all of 2023. This North Texas footprint will ultimately produce about 4 to 5 percent of all cans in North America.

FINALISTS: DSV; Hayes Co.; Southwire

BEST RETAIL LEASE OR PROJECT

CityLine

AFTER A COMPETITIVE BIDDING WAR OF eight offers and national marketing efforts by Newmark, Robert Sarver, the former owner of the Phoenix Suns and Phoenix Mercury, emerged as the buyer for Richardson’s CityLine. Anchored by State Farm, the $1.6 billion development constructed in 2016 is a more than 2 million-square-foot mixed-use property comprised of four office buildings, 120,000 square feet of retail, and a 42,000-square-foot medical office building. The transaction was the largest office sale by consideration and square footage in North America last year.

Within a historic, 75-year-old neighborhood shopping center in Oak Cliff, TARGET found a site to build its next Dallas retail location. At roughly 111,000 square feet—nearly 30,000 square feet smaller than a typical Target footprint—the Wynnewood Village store will provide retail goods for an often overlooked and underserved Dallas neighborhood. SRS’ Karla Smith likens it to fitting 10 pounds of sugar into a 5-pound bag. Despite the challenges, the store is scheduled to open in August 2025 and create roughly 200 jobs for the community.

FINALISTS: Cosm at Grandscape; Harwood Hospitality Group; Popstroke at Grandscape

FINALISTS: NOVEL Turtle Creek, Qorvo Semiconductor, Stemmons

BEST

Harwood International; Will Hendrickson, Granite Properties; Jessica Miller Essl and Susan Gruppi Miller, M2G Ventures; Joseph Pitchford, Crescent Real Estate; Katy Slade and Nick Venghaus, Mintwood Real Estate

Towers, Texas Osprey Portfolio

The Monarch Hall Park

IN 2017, CRAIG HALL BEGAN TO THINK about what his Frisco campus would be for generations to come. Soon after, HALL Group initiated a $7 billion masterplan to turn the area into a vibrant mixed-use development. Just a short drive from attractions such as Legacy West, PGA Frisco, and several sports venues, the first manifestation of that plan has come in the form of The Monarch Hall Park, a luxury 19-story apartment tower located on the future site of Kaleidoscope Park, a 5.8-acre green space set to open this summer. The 214unit high-rise has an average unit size of 1,150 square feet and boasts resort-style amenities such as a club room, pet spa, 24-hour concierge team, and a 10,000-square-foot eatery with nine restaurant options and a full bar.

FINALISTS: The Bohéme, Depot on Main, Oakhouse, The Quinn

“I get to be a salesman, a poor man’s architect, financial analyst, amateur engineer, small business owner, and adviser to some of the world’s largest institutions—all in one day.”

STEVE TRESE, CBRE

FINALISTS: Ryan Hoopes,

Wells Fargo

developed by KDC

KDC, Corgan, and Austin Commercial began construction on Wells Fargo’s new $500 million Irving campus in April 2023. The 22-acre site, just minutes away from Toyota Music Factory and the Irving Convention Center, will boast an 850,000-squarefoot facility that will house about 3,000 Wells Fargo employees when it opens at the end of 2025. At that time, the San Francisco bank, which has just under 7,000 DFW employees spread throughout 14 offices in the region, will consolidate its local office footprints. The campus will be the company’s first netpositive energy office space through the use of rooftop solar panels, electric vehicle charging stations, and native plantings to minimize water requirements. The design utilizes solar PV

canopies on the buildings and parking garages and reclaims gray water from a nearby lake for the water-cooled HVAC system. Developers are implementing numerous amenities which include a coffee shop, a food hall with open-view cooking stations, a dining hall overlooking Lake Carolyn, a library with high-tech workshop space, multiple gyms, and well-being rooms. The campus, which has a 4,000-spot parking garage, is designed to eventually double in size

with a second phase of construction. Wells Fargo stands to gain $36 million in state and local incentives for its campus, $5 million of which is from the state and $31 million from the City of Irving. It’s the largest incentives package the city has ever offered. JLL assisted Wells Fargo in its site selection.

FINALISTS: 6275 West

Plano Parkway, Granite Park 6, Harwood No. 14, The Offices at Southstone Yards, The Quad, Thirteen Thirty-Three and River Edge

Cushman & Wakefield; Seth Koschak, Stream Realty Partners; Andy Leatherman, JLL; Karla Smith, SRS Real Estate Partners; Chris Teesdale, Colliers

COMMERCIAL

REAL ESTATE EXECUTIVE OF THE YEAR

Ran Holman

Over the years, Ran Holman has built a reputation for developing winning business strategies and exceptional work cultures and recruiting top teams. That’s exactly what he has done at Newmark since joining the firm in 2020, adding superstars like Mark Masinter and Jack Fraker. “Last year we brought together pros from four different mergers along with some highly sought-after recruits, into one state-of-the-art office in Uptown,” Holman says. “The ethos that emerged has been incredible.”

FINALISTS:

Chad Lavender, Newmark; Steven Levin, Centennial Real Estate Management; Terry Montesi, Trademark Property Co.; Tony Ramji, Victory Real Estate Group; Mimi Tran, KA Commercial Group

BEST HOSPITALITY PROJECT

JW Marriott Arts District

OFFICIALLY OPENED IN JULY 2023, THE JW MARRIOTT DALLAS ARTS DISTRICT is already proving to be an anchor in the district. Developed by the Sam Moon Group on top of land that used to be a 10-story parking garage, the hotel is a 267-key property with 13 suites. Its luxurious, yet approachable charm takes inspiration from the Dallas Museum of Art, Nasher Sculpture Center, and Crow Museum of Asian Art, all part of the world’s largest contiguous arts district that surrounds it. The hotel boasts orchestral brass fixtures, diverse art pieces, and digital representations of vinyl albums in the guest rooms. It also commissioned 20 one-of-a-kind art pieces, including a monarch butterfly painting by Sam Moon Group’s VP and General Counsel Daniel Moon’s daughter. Dallas’ HKS served as the hotel’s architect and DPR Construction as the general contractor. Uptown-based Looney & Associates led interior design.

FINALISTS: American Airlines’ Skyview 6, The Knox Hotel, Miyako Hybrid Hotel Plano

Johnston Frizzo Allison

ALLISON JOHNSTON FRIZZO LIKES

JOKE that she got her start in real estate as a 4-year-old in the 1980s, tagging along on an office tour with her mother. “According to her, I took the prospective tenant’s hand and walked him through the space, showing him each room,” she says. “So, I guess you could say I was a natural.” Along with her impressive brokerage achievements, the young leader is one of the region’s most dedicated industry and community volunteers. It all started in 2012, when she founded Ladies in CRE after not finding other networking groups that catered to young women in the business. What began with just 35 members has grown to more than 600 members today. In 2021, she launched Hart Commercial with her mentor, Tanya Hart Little. “It was a gamble, but we persevered,” she says. “We are committed to building a special firm for the next generation of commercial real estate leaders.”

FINALISTS: Tom Dosch,

Dosch Marshall Real Estate; Garrison Efird, Newmark; Geoff Ficke, Colliers; Ali Greenwood, Cushman & Wakefield; Summitt Hogue, Growe; Bryce Jackson, Thirty-Four Commercial; Daniel Poku, SRS Real Estate Partners; Charles Rombold, MW Builders; Andrew Shaw, Edge Realty Partners

TO

HART COMMERCIAL

EMERGING COMMERCIAL REAL ESTATE PROFESSIONAL OF THE YEAR

EXCELLENCE

IN ARCHITECTURE AND DESIGN

“I’m excited about the potential that technology can bring to innovation and invention to the entire building design and construction industry. It’s overdue for reinvention.”

Dan Noble, HKS

FINALISTS: Milton Anderson, Merriman Anderson Architects; Scott Ruch, Corgan; Deeg Snyder and Steven Upchurch, Gensler

Preston Harbor

developed by CRAIG INTERNATIONAL

The $6 billion Preston Harbor development on Lake Texoma was one of the largest land purchases in Grayson County’s history. It’s projected to nearly double the size of Denison. According to Mayor Janet Gott, the city expects the project to attract 20,000 new residents. A driving force behind the massive development is Sherman's construction of billions of dollars worth of semiconductor plants that are slated to add thousands of new jobs to the northern sector. Spread out over more than 3,000 acres, Preston Harbor will include 7,500 homes, multifamily units, retail, restaurants, a town center with a park overlooking Lake Texoma, and an upscale marina with up to 600 boating slips. But the anchor of the mixeduse development will be a

200-key, $100 million Margaritaville resort, an escape that celebrates the coastal vacation culture immortalized in the music of the late entertainer Jimmy Buffett. Preston Harbor, one of the largest undeveloped tracts on Lake Texoma, will include more than nine miles of lakefront and feature an extensive trail system interconnecting interior lakes,

parks, marinas, Lake Texoma, and the resort. David Craig, the developer behid the 2,200 acre Craig Ranch in McKinney, is leading the project as its developer and general partner. The Choctaw Nation is also part of the investment.

FINALISTS: Anna Ranch, Fifield Residential, Turtle Creek, Green Meadows, The Vickery

BEST INDUSTRIAL PROJECT

BEST REDEVELOPMENT OR RENOVATION

The Sinclair

CONSTRUCTED FROM THE BONES OF THE former Energy Plaza, The Sinclair is a premier mixed-use high-rise in downtown featuring 450,000 square feet of office space and nearly 300 multifamily units. Developed by Todd Interests, Shawn Todd and his team completely gutted the building and repurposed it into luxury living and Class A office space that boasts green amenities and an abundance of natural light. As one of the country’s largest adaptive re-use projects last year, The Sinclair touts apartments that top out at $14,000 a month. HKS served as the architect on the project.

Developers broke ground on the 1.35 million-square-foot TRADEPOINT 45 WEST in the fourth quarter of 2022 and the project, fully leased by solar provider giant Trina Solar, will open in late 2024. Built by Champion Partners and Cresset Partners, the Wilmer property is the largest speculative industrial building constructed in the history of Texas. Additionally, the lease is the largest deal to sign prior to a speculative building’s shell delivery. Once operational, Trina Solar will invest $200 million into the facility and create 1,500 DFW jobs.

FINALISTS: Live Oak Logistics, McLaren, Mesquite Airport Logistics Center, Southport Logistics Center

FINALISTS: Crown Block, Dallas County Records Building, GoodSurf, Sylvania Industrial Park

BEST LAND DEAL

The Crescent Fort Worth

CAPITALIZING ON UNDERUTILIZED ACREage, Crescent Real Estate developed Crescent Fort Worth, a mixed-use project in the heart of Fort Worth’s Cultural District. Five years in the making, the new development features 170 luxury residential units, a 160,000-squarefoot Class A office building, a 26,000-squarefoot Canyon Ranch Wellness Club, and a 200-key Crescent Hotel. The hotel has opened to rave reviews and has already set a new benchmark for rate and occupancy in the Fort Worth market. The office component was 90 percent leased upon ribbon cutting, and plans are already in motion for an adjoining office space to be built in 2026. Additionally, Duro Hospitality will open its first Fort Worth restaurant in late 2024 at the site.

FINALISTS: EpicCentral, Lincoln Property Co. headquarters,

“I am changed—better—through the people I have met along the way, especially those who devote their lives to causes they believe in.”

MIKE GEISLER, Venture Commercial

FINALISTS: Charles “Chuck” Dannis, National Valuation Consultants; Karyn Martin, Interprise

Design;

Frank Mihalopoulos, Corinth Properties

The Kessler School

The redevelopment of Calvary Baptist Church into The Kessler School’s new campus is not just about a school needing more space for its students. It's a story about revitalizing the surrounding neighborhood and saving a historical structure in an Oak Cliff community where teardowns and gentrification are a frequent occurrence for unused buildings. The Kessler School, a private, pre-kindergarten through seventh grade institution, was formerly leasing a 12,000-square-foot space in the Kessler Park United Methodist Church Now, its space is nearly six times larger. Despite receiving slightly higher offers for its former space that could have been repurposed into commercial space or trendy lofts, Calvary Baptist—now congregating in Duncan-

ville—voted unanimously to sell the property to The Kessler School. For years, the old church, which touts 100-year-old neoclassical architecture, was largely abandoned, attracting break-ins and loitering, but now the space is an educational environment filled with the laughter and curiosity of children. Main enhancements include the replacement of bleak asphalt landscape with green, lively spaces conducive to learning and community engagement. Additionally,

after its reimagination, the community has been sparked by innovation. Other redevelopment and reuse projects in the Sunset Hill neighborhood are launching thanks to The Kessler School. A notable example is Cenzo’s Pizza & Deli, which recently opened in a repurposed old gas station, replacing a rundown laundromat.

FINALISTS:

1632 MLK

Boulevard Retail, Harwood Park, The Loop Dallas, The Place at Honey Springs, South Dallas Cloud Kitchen

Presidium Cotton Mill

COMMUNITY IMPACT

represented by SOLENDER HALL

Michael Wyatt INDUSTRY IMPACT

Cushman & Wakefield

Mike Wyatt was one of the region’s top tenant rep brokers before his tragic passing last September, but his impact on the community far and away surpassed his achievements as a local dealmaker for Cushman & Wakefield—the firm he served since 1988. A cancer survivor, Wyatt founded Team Nuts and became a leading advocate for male cancer awareness. He helped bring Klyde Warren Park to fruition, as a nature and outdoors enthusiast he served the Trinity Park Conservancy for two decades, and founded Urban Armadillos, which created an app for a self-guided tour of downtown Dallas. D CEO is proud to honor his legacy with its first Industry Impact Award.

Bank of America at Parkside

THE 72-STORY BANK OF AMERICA PLAZA has long been home base for the company’s employees in downtown Dallas. But the bank is entering a new era. And last year, it announced plans to move to Parkside, a 500,000-squarefoot tower that’s being developed by KDC and Pacific Elm Properties. The new building will sit adjacent to the popular urban greenspace Klyde Warren Park on land owned by Miyama USA. At 30 stories, it will be the tallest tower in Uptown. The bank will occupy more than 238,000 square feet in the facility, designed by Kohn Pedersen Fox, with Corgan and OJB Landscape Architecture also contributing. In recognition of its anchor tenant, the skyscraper will be known as Bank of America Tower at Parkside. The financial institution will relocate about 1,000 workers to the new digs in 2027. Putting the deal together were Andy Leatherman of JLL, Aarica Mims of KDC, and Sara Terry of Pacific Elm Properties.

FINALISTS: Gearbox, HF Sinclair, ISN Software Corp., JBB Advanced Technologies, Meriton/Texas Air

Jack Matthews

Matthews Southwest

LAST YEAR, FOR THE FIRST TIME SINCE GROWING

Matthews Southwest into a global development firm, Jack Matthews brought together his full leadership team—everyone who owns a piece of the company. Because he’s one who believes in sharing the wealth, it wasn’t a small group. Leaders flew in from outposts in Dubai, Toronto, Vancouver, and Dallas. They met in Squamish, a stunningly beautiful small town in British Columbia. It’s where Matthews is underway with one of his latest projects, a 20-acre oceanfront parkthat opens to a green-focused, mixed-use development that will have residences, a hotel, and retail shops. “I realized we had been working in silos and thought, ‘We have all these talented people, let’s bring them together,’” Matthews says.

At the gathering, people shared details about projects they had been working on in other parts of the world. “Everyone was blown away because it’s generally one step beyond what the normal development would be,” Matthews says. “The Museum of the Future in Dubai is off the charts, but then some of the stuff we’re doing in Vancouver and Toronto—it’s not what people typically get to do. I got quite emotional seeing everything together all at once.”

ters for the Dallas Police Department, South Side on Lamar, Gilley’s Dallas, and Alamo Drafthouse.

“I was more ignorant than smart,” Matthews jokes. “What led me there was the value of the land. I couldn’t understand the great disparity in land prices between north and south. I knew that a longtime bias needed to be corrected and that the only way that was going to happen was for us to be successful. And so far, we’ve been pretty successful.”

More development has since occurred in the area, but not as quickly as Matthews had hoped. “It’s slower than I would like, but everything that has been done has continued to work and has stayed. And I think reorienting the Convention Center north and south, versus east and west, is really going to help. Of course, it’s up to us to put interesting things there.”

The “us” Matthews references is Inspire Dallas, a team he leads that was selected last September to oversee the massive redevelopment of the Kay Bailey Hutchison Convention Center. Other members of the Inspire Dallas team include Kaizen Development Partners, Azteca Enterprises, and nearly 30 subcontractors. The redevelopment plan was updated just weeks ago after discussions between Inspire Dallas, the city, TxDOT, Union Pacific Railroad, and High-Speed Rail. An initial deck park concept was killed and replaced by more urban open space. And the planned location of the convention center itself was shifted deeper into downtown to accommodate construction on Interstate 30

The firm’s growth—both geographically and into various real estate product types—wasn’t in the developer’s mind when he moved from Canada to seek his fortunes in North Texas 30 years ago. Matthews had become president of his father’s Canadian construction business in 1982 while still earning his MBA. He shifted the company’s focus to development and grew annual revenue from $70 million to $500 million. In 1994, he bought the Southwest division, which he had launched in Dallas in 1988, and split from the larger organization.

Looking around for development opportunities in his new home base, he decided to focus on the area south of downtown. He couldn’t understand why other developers had eschewed the area so close to the city’s core. Soon, projects were springing up where they hadn’t been before: a new headquar-

Matthews Southwest transformed the historic Dallas High School into office space in 2018.

and existing Union Pacific Railroad tracks. The plan focuses on more than just renovating a building—it aims to elevate the city’s infrastructure, provide an economic boost, and create better connections with The Cedars, South Dallas, and Southern Dallas through urban development and various community initiatives.

It was those possibilities that got Matthews so passionate about pursuing the project—the chance to further link South Dallas with downtown. “It will be incredible for Dallas,” he says. “The flow out of the convention center by visitors will go east, north, and south into other areas of the city. It will correct a lot of sins that happened when Interstate 30 was put in.”

Matthews was the obvious choice to lead the endeavor, given his development prowess, his success in bringing forth the Omni Dallas Convention Center in 2011, and his commitment to the city. Less obvious to most are his innovation, team-building, creativity, and problem-solving skills. That’s because Matthews likes to keep a low profile—and share the credit.

He also likes to share opportunities. In the last decade or so, he has formed about 10 different partnerships that involve nonprofits or minority owners—people who otherwise would be challenged to get financing or equity, he says. Matthews Southwest provides 100 percent of the funding for development projects but creates 5050 partnerships. The company also provides guidance on things like working through permitting red tape. The end goal is for his partners to achieve success by earning profits—and buying him out.

“I love working with people from the community who are going to invest in the community,” Matthews says. “They have to be able to make a profit; otherwise, they can’t be sustained.

“You want to look after the place that has looked after you,” he adds. “I want people to know that you can do the right things and still be very successful. It requires patience, but you can do all the things you need to do for your family and still be helpful to others.” — Christine Perez

PIONEER AWARD

PROJECT PHOTOGRAPHY COURTESY OF MATTHEWS SOUTHWEST

RESURRECTION THE OF AN INDUSTRIAL

story by JENNIFER WARREN

Economic growth and shifts owing to the pandemic and geopolitics are driving the redevelopment of brownfield assets. With Sandow Lakes, Xebec Realty’s Randy Kendrick is leading the way.

A TEMPERATE MID-JANUARY DAY, with a bird’s eye view from the helicopter of Dallas, then South Dallas, Randy Kendrick narrates the pieces of an infrastructure puzzle he’s connecting. Soon, we come upon the vast central plains of Texas and the mega-site of Sandow Lakes Ranch. Kendrick, CEO of Dallas-based Xebec Realty, relays how he sees his development syncing with shifting supply chains, logistics, and transportation infrastructure—the type of transformational convergence that’s only seen about once every 100 years.

We land at the office by Alcoa Lake, across from the industrial structures of “power island” and the defunct aluminum smelter. The success of the prized brownfield site was manifested by Tommy Hodges, a former Alcoa employee who’s now COO of Sandow Lakes. A six-year marketing odyssey by local broker Bernard “Bernie” Uechtritz further shaped the story. The two found their perfect suitor in developer Kendrick.

The Chernobyl-looking industrial land, surrounded by earth and lakes so pristine and poetic, is being remade into a modern-day township of technological innovation, creativity, and intelligence. “Sandow is in the sweet spot of Texas’ Golden Triangle—nothing like it exists,” Uechtritz emphasizes.

The development is 17 miles long and 50 square miles—more than twice the size of Manhattan. Just south a short distance from Rockdale and east of Taylor, where a Samsung chip foundry is being built, it’s anchored by the 914-acre Alcoa Lake, the former cooling waters of a mothballed Alcoa aluminum plant.

Built in the early 1950s, it was the largest aluminum foundry in the world for decades. It closed in 2008, having employed nearly 2,500 people. The new Alcoa foundry built in Iceland needs just 100 employees to run it, Kendrick says. “It’s a 50year rule surrounding the lifespan of an industrial facility.” He refers to an infrastructure stock turnover rate not apparent to most. The Alcoa plant’s place in time has passed.

And now, reindustrialization is emerging in unique and Texas-style ways. With economic growth and shifts owing to the pandemic and geopolitics, there is a need to innovate and repurpose brownfield assets. North Texas visionaries on the vanguard are connecting energy, innovation, infrastructure development, and land use trends—with Sandow the posterchild.

AGENTS OF CHANGE

The transformation of the Alcoa property from preparation for sale to where it is today is complex. During the hand-off to Kendrick, who acquired the asset in November 2021, Hodges parted with these words: “Just don’t mess it up.”

Key in rebranding the mega-site as Sandow Lakes Ranch was

Uechtritz of Icon Global. Responding to a request for proposal by Alcoa shortly after his renowned $725 million Waggoner Ranch sale in 2016, Uechtritz was selected to represent the industrial behemoth. “It was 33,000-plus acres of an incredible-looking sculptured landscape that was extraordinarily out of place in a Central Texas setting,” he recalls. “The terrain outside of Sandow is harsh and tough, gravelly and scrubby. But this site looked like it popped out of a Montana or Wyoming guidebook.”

In juxtaposition to rolling hills and a string of lakes were two hulking power plants. About a third of the site, 600 acres, was designated as industrial area, with two coal-fired power plants and the longest coal-carrying conveyor belt in the world.

Uechtritz was attracted to the deal by its novelty and sheer challenge. Once in his charge, he realized the daunting road ahead. “I had never done anything like this,” he says. “I wondered how I was going to do it. There’s a lot of water—and all this rusty metal. I honed in on the high value of the water [resources], given the demand and apparent pipelines from Austin and Georgetown to San Antonio.”

Along with its power island, the Alcoa development had a mega-switch and a

Bernie Uechtritz specializes in luxury ranches. But he began his career selling distressed properties in California.

Sandow Lakes, twice the size of Manhattan, aims to be a model of supply chain, logistics, and transportation innovation.

Class 1 railroad switch. Alcoa even bought back a railroad spur it sold to add to the appeal. But future business neighbors and local communities became a big part of the draw in selling the site.

Uechtritz and Hodges paved a path with potential revenue streams to justify a price tag of $240 million. Meanwhile, the clock was ticking on the requirements for repurposing a brownfield site. “The picturesque landscape was largely unchanged through the sales process, but the industrial part changed dramatically,” Uechtritz says. Water deals were teed up to water utilities, which would ultimately sell to end users such as Samsung. Amazon and Tesla later moved to the area.

the average ranchland in Central Texas.

At one point, the site became an industrial ghost town with just a guard checkpoint and Hodges’ office. One coal-fired power plant shut down, and another was decommissioned, with Luminant’s bankruptcy in 2017. The old 25-mile conveyor belt sat idle.

New and different opportunities materialized. Some potential buyers wanted to store whiskey; others thought to build datacenters or the largest solar farm ever. A tech firm wanted a secret science lab; another hoped to convert Wyoming trash to energy, given the railway access. Ultimately, time and events favored the man who would emerge as Sandow’s new owner.

THE CARETAKER’S PLANS

On board at Alcoa since 1983, Hodges oversaw the $350-million reclamation of the 17,500-acre Sandow mine that ran the smelter, creating the ultimate canvas for industrial and commercial use. Kendrick and Uechtritz credit him for envisioning the natural landscape that once was—and what it could become again.

Hodges managed almost every aspect of the land and venture, from making aluminum to power generation and mining coal. “I had a hand in acquiring and developing the property,” he says, “and then on the backend, its restoration.” The Sandow Mine, permitted as No. 001 in 1976, and 1,000 inspections later, was closed out by the Texas Railroad Commission in 2018.

In 1986, Hodges pioneered a technique for how materials were handled in the mining process based on the geology and terrain. At Sandow, having mined an average of 180 feet down, the surface-level hard clay gave way to sandy loam underneath, which Hodges repositioned as the high-grade topsoil for a rich and fertile future. Kendrick says it’s five times more fertile than

THE CIRCULAR ECONOMY

How the global approach to innovation is shifting.

Sandow Lakes Ranch stands as a model of sustainable development. Adding advanced manufacturing means creating space for the new with the old in mind. Given the economic growth in the Texas Triangle, landman and carbon capture expert Jonathan Grammer observes how the availability of relatively large, flat, affordable parcels inspired Samsung and Tesla to move to Texas. Previously classified as farmland, this region’s access to infrastructure and other business factors played a role, too. Sandow’s sheer size will allow for Kendrick’s vision beyond commercial uses—including housing. He aims to honor the histories while allowing for creative, next-gen growth “one brick at a time,” he says.

In 2018, the Department of Interior recognized the property as the best mine reclamation initiative in the U.S.

Under Hodges’ direction, some years past, Boy Scouts had planted trees—pecan, hickory, cedar, and oak groves. They cover nearly half of the entire property. Wildlife and nature are abundant. The 14 Hodges-made lakes of Sandow Lakes Ranch cover roughly 1,960 surface acres. Their bodies of water are “deeper than most lakes in Texas,” Kendrick says.

The Alcoa aluminum smelter was the major economic engine for Rockdale and surrounding counties. Today, the economic multiplier of Sandow will be significant. Its location downstream from Samsung and its suppliers suggests another hub in Texas’ expanding innovation and advanced manufacturing ecosystem.

Alcoa began looking for an end-game to posture the property for sale around 2010. “We wanted to create a path forward that could restore some, if not all, of that economic engine,” Hodges says. “This was going to be all-or-none. That’s how we approached it.” Once the sales team was formed, we realized the need to demonstrate the revenue potential outside of agriculture to potential buyers. “By the spring of 2020, we had that pretty well mapped out,” Hodges says, “enabling Alcoa to move on.”

The metamorphosis of Alcoa to Sandow happened organically. “I saw the pastures, water, and rolling hills and thought this was the sell,” says Uechtritz. “The ugly industrial bits and power island could be someone else’s problem because I didn’t know how to make that go away or deal with it.”

Hodges and Uechtritz mapped out a strategy like they were playing a game of chess. “Tommy moved the pieces around—how much resources they would use, water, fiber, and how to share them—including contenders like the Amazons and Musks,” Uechtritz says. “He was the supreme chess player, never taking his eye off the game. And now and then, he said ‘checkmate.’”

As the anchor in the middle, Hodges knew that selling the property required a certain mix of brokerage and synergy. Countless others tried to make end runs around him and Uechtritz. Hodges held the line.

THE VISIONARY

Hodges and Uechtritz courted 40 potential suitors for the Alcoa property; then Randy Kendrick came along. It happened by accident, in an unrelated meeting, Uechtritz says. “On a regular 8 a.m. call the next day with Tommy, I said, ‘I think I met our guy.’”

Kendrick was impressed after seeing the property for the first time. “I couldn’t believe there was 50 square miles of land in the fastest-growing area in Texas,” he says, calling it a “true mixeduse super-structure.” Unfazed by the ugly site, he was attracted to its “location, place in time, water resources, and power.”

Kendrick, 59, was born in Las Vegas. His father worked in

construction—specifically in rebar. His family then moved to Los Angeles. As a University of Southern California graduate, he did his first real estate development deal at age 22. He aligned with brokers who knew where the action was. Based in Dallas since 2018, after relocating from California, Xebec has a 30-plus year track record and 43 projects under development.

The advent of the shipping container played an outsized role in his success. Global ports had to coordinate and come to an agreement to allow for the globalization of the 1986-to-early 2000s phase. The day we visited Sandow, as we flew across North Texas, Kendrick explained and showed how railroads are still a foundation of American commerce. Online shopping rocket-boosted this modifying industrial era. The shipping container allowed for intermodal transportation—from ship to train to truck, that is.

Now, with the Walmarts and Amazons, online shopping and fulfillment, another level of many ‘forces converging’ is apparent to Kendrick. “Developers make something out of nothing,” he says. But that’s not all.

The Texas Railroad Commission shut down the Sandow Mine in 2018. Xebec has taken on its ambitious redevelopment.

The pandemic reshuffled the global economic deck in new ways. It was kerosene poured onto the fire for a renaissance in American manufacturing. Nowhere is that more apparent than the reindustrialization that’s taking hold in Texas.

A LOT OF COOL

As Uechtritz and Hodges prepared Sandow for its next owner, the pandemic revealed competitive gaps and vulnerabilities. The Biden Administration passed the Bipartisan Infrastructure Deal in November 2021, followed by the CHIPS and Science Act, a $52 billion investment signed in August 2022, after the Sandow deal closed. This signaled the U.S. recognized its need to return manufacturing and supply chains to America.

In early 2022, Samsung broke ground in Taylor on what has become a nearly $30 billion semiconductor foundry, or fabs, to power next-generation tech in areas like 5G, AI, and high-performance computing. Sandow is supplying water resources to Samsung, a significant benefactor of Sandow’s infrastructure. We flew over the foundry’s construction, with Kendrick commenting on the 24/7 activity to move into chip production.

The first-announced phase of Sandow’s master plan, the

Advanced Manufacturing and Logistix Campus, or “AMLC,” will feature up to 50 million square feet of industrial space. Prospects include Amazon and national third-party logistics firms but also high- and lowtech manufacturing. Kendrick mentions that 3D printing and additive manufacturing are game-changers for reshoring supply chains to America. He expects the densest part of Sandow’s gross domestic product to be the AMLC, reflecting “modern-scale economic activity.”

The potential of the water and energy resources was a significant point of attraction for Kendrick in the Sandow deal. He well understands how critical water supplies have become, given his Los Angeles experience. The rechargeable Simsboro aquifer lies underneath the property and will have a conscious caretaker.

Power island, with its many industrial leftovers, offers Kendrick “adaptive reuse opportunities,” he says. On the day of the visit, power was top of mind with Winter Storm Uri still fresh in the collective consciousness. Kendrick notes that Texas is short 16 gigawatts in the Triangle, based on a Texas A&M study. Sandow is part of the solution. Its renowned Sandow switch is 1.5 gigawatts—strategic infrastructure for connecting the northern and southern parts of Texas to the grid. Two new switches are planned, as is a state-of-the-art natural gas power plant—a 1,200-megawatt, ultra-efficient facility expected to break ground in 2025 and be operational by 2028—and solar. Energy demand is growing. Datacenters, quantum computing, and AI require a lot of power. But availability and reliability could become a growth-limiting factor. Kendrick is planning electrical infrastructure with carbon neutrality in mind.

Uechtritz says a certain entrepreneurial vision was required to realize the possibilities. “A place like Sandow requires a guy to walk in and say, ‘I got this,’” he says. “One that says, ‘F—k, this could be really cool.’ He isn’t bothered by the obstacles; he knows in himself he’ll overcome them and find those with the right answers. That’s who Randy is.”

The reindustrialization theme in land use has examples scattered across the U.S., with rust and worn-out infrastructure that can be revitalized—true circular economy dreams. Ultimately, Sandow Lakes will house tenants from high- and low-tech manufacturers—names old and new—to “creative types and tech-forward innovators.”

As we wrapped up our conversation, I asked Kendrick about Sandow’s aesthetic: “Eclectic” was his one-word reply. To him, Texas is like California in the 1970s, with a lot of cool yet to be created.

Tommy Hodges and Alan Gardenhire of Sandow Lakes go over redevelopment plans with Xebec’s Randy Kendrick.

The advanced manufacturing and logistics campus at Sandow could contain up to 50 million square feet of industrial space.

MAKE IT HAPPEN MAKE IT HERE

Downtown Dallas continues to surge forward, o ering unparalleled opportunities for success. Visit DOWNTOWN DALLAS NOW to discover how this vibrant hub serves as the epicenter of endless opportunity.

The Investor’s Playing Field

In recent decades, the valuations of U.S. sports teams have outperformed the S&P 500. So, it’s no wonder that private equity and serial investors are now in the game—and shaping sports franchise ownership for generations to come.

story by BEN SWANGER

Valuations for sports teams have never been higher. Mark Cuban’s recent majority interest sale of the Mavericks to the Adelson and Dumont families valued the franchise at $3.5 billion. Per Sportico, the Rangers are worth just under $2 billion, and the Stars are valued at $1.11 billion. We all know the most valuable franchise in the world is the Dallas Cowboys at $9 billion.

In recent decades, U.S. sports teams have outperformed the S&P 500. Typically, teams are owned by high-net-worth individuals, families, or corporations. But there are only so many Jerry Joneses, Mark Cubans, Rob Waltons, and Steve Ballmers of the world who can purchase a sports team and tack on billions in value. Enter private equity—which Bill Yates, co-founder of

DFW sports investment fund Top Tier Sports and consultant to Rangers’ ownership, calls “the next best option to a sole owner.”

The Rangers are one of 18 MLB teams, per Pitchbook, to have a private equity connection. In late 2023, the ownership group was reportedly shopping a 10 percent sale to Sportsology Capital Partners and Ares Management that would value the World Series champs at more than $2 billion. “The Rangers are doing it right,” Yates says. “There are plenty of places to invest, whether it’s the stock market or traditional investment institutions, but firms are investing in sports because it’s a trusted place.”

The growing valuations mean this investment space is quickly becoming an arms race. Local firm Arctos Partners is one of the most active private equity players exclusively investing minority stakes in sports franchises. As of last year, the firm held $6.6 billion in assets.

RedBird Capital Partners, which oversees $10 billion in assets—70 percent of which are in sports, media, or entertainment—is another big player. In 2021, its investment in Fenway Sports Group, the parent of the Boston Red Sox and Liverpool FC, valued the company at $7.35 billion in enterprise value and $6.5 billion in equity value. According to Gerry Cardinale, RedBird founder and managing partner, after adding the PGA Tour, SpringHill Co., and the Penguins to the entity, Fenway’s valuation is now between $12 billion and $13 billion. RedBird also purchased the Dallas-based XFL out of bankruptcy in 2020 for $15 million. Last year, the firm merged the XFL with the United States Football League.

“We all get lumped in as ‘private equity,’” Cardinale says. “But PE, to me, charges fees and carry, which implicitly means that we as investors are very hands-on in adding value to the companies we’re buying or building. There are other ways to invest in sports that is not PE. Taking minority stakes in teams at control premium valuations where you have no governance, limited information rights, and no pathway to liquidity is not PE. That’s unlevered or levered beta, pretty much a Schwab Index fund.” Cardinale is adamant that sports teams are not an asset class despite some investors treating it as such. “We need to be careful classifying sports as an asset class because the economic constructs un-

derpinning sports are not necessarily developed enough to warrant it,” he says.

So, when will the dominoes fall? “European football teams trade as a multiple of revenue,” he says. “That’s lazy. They should trade as a multiple of cash flow, and once that happens, sports will be better positioned to be an asset class.”

Yates’ Top Tier Sports, co-founded by Rangers COO and Co-owner Neil Leibman, holds minority equity stakes in minor league hockey club the Allen Americans, Major League Rugby’s Dallas Jackals, minor league baseball team Cleburne Railroaders, and National Lacrosse League’s Panther City Lacrosse Club. In 2024, though, the fund is eyeing an entrance into the NHL, MLB, or MLS. “The firms investing in sports don’t just get a piece of what you see on the field or the court,” he says. “It’s the team’s real estate surrounding the stadium like restaurants or hotels, its F&B contracts, there’s tech involved—and that’s why so many investors are realizing they can use sports as their crown jewel.”

Top Tier’s first investment was the Dallas Jackals, whose COO and co-owner is Rodd Newhouse. “Interest rates and high inflation ran private equity investments in sports aground in 2023,” he says. “But interest never waned, and now, with inflation and high rates subsiding, people feel like they can put their money back on the street.”

Both the MLR and the Jackals are searching for investors. Former league commissioner George Killebrew spent a great deal of time looking for the right investor during his tenure from 2019 to 2023, he told D CEO. But at the end of the day, Killebrew wasn’t comfortable “giving up a pound of flesh” to get where the league needed to be, he says. “Private equity is still private equity,” Newhouse says. “It’s all about making money. But sports is a good investment class because even in tough economies, people still want to spend their money on sports.”

Despite the success, Cardinale warns that, yes, sports valuations are increasing, but nothing grows forever. “We’ve had these euphoric spikes, but we haven’t seen the disappointment. There’s been a linear escalation in asset valuations, but this has not kept pace with the people, infrastructure, and business models that are needed to support those valuations. To me, that constitutes to some form of a bubble.”

BOX SCORE

Proof in the Numbers

How sports assets owned by Arctos and RedBird have performed since acquisition.

GOLDEN STATE WARRIORS

In 2021, Arctos acquired a 5 percent stake that valued the NBA franchise at $5.5 billion. Today, it owns 15 percent of the Warriors, now valued at $8.28 billion, per Sportico

TAMPA BAY LIGHTNING

Arctos acquired up to 10 percent of the NHL team in January 2022. Prior to the deal, the team was valued at $805 million; in 2023, the Lightning was valued at $1.25 billion, per Sportico

AC MILAN

In 2022, RedBird purchased controlling ownership of the Italian football club for $1.2 billion. Less than a year later, Forbes calculated the club was worth $1.4 billion.

BOSTON RED SOX

in 2021, RedBird acquired a stake in Fenway Sports Group, the Red Sox’s controlling owner, that valued the entity at $7.35 billion. Per Forbes, its MLB asset was then worth $3.5 billion; today, the Sox are worth $4.5 billion.

What’s the toughest business challenge you’ve had to overcome?

edited by LAYTEN PRAYTOR

JOSH IRVING

Co-Founder and CEO I&A AGAVE SPIRITS

“Understanding that when starting a business, for employees to have parallel passion for your company, you must break down how and why every employee is motivated. As we have scaled, maintaining that intense focus has become a huge challenge that requires a massive amount of time and energy. However, through weekly calls and team retreats, I continue to sharpen my craft of keeping others motivated by knowing what motivates them.”

illustrations by JAKE MEYERS

ELIZABETH BLAU

Founder and CEO BLAU + ASSOCIATES

HENRY WOODRUFF

Managing Director EPIQ CAPITAL GROUP

“In 2019, I was presented with a film called A Fine Line that addressed the continuing gender inequity in the restaurant industry. The film highlighted a staggering statistic: although 50 percent of culinary school graduates are women, fewer than 7 percent become an executive-level chef or restaurant owner. Along with two other colleagues, I co-founded the Women’s Hospitality Initiative with a mission to accelerate the development and advancement of women leaders in the industry.”

“When we established EPIQ in 2018, it was a hugely exciting but challenging business endeavor to be a part of. As a member of the founding team that came out of ICONIQ, we helped build EPIQ from the ground up. It was very demanding but incredibly rewarding, and I have never learned more in my life. The days were intense and the weeks were tough, but after the first year, we looked back and saw how far we had come and where we were going with our momentum.”

THANK YOU

to everyone who contributed to the successful development of Tradepoint 45 West and the 1,351,372 SF lease with Trina Solar.

SPORTS TECH EXEC CHRISTIANA YEBRA GOES FOR CHIC AND SPORTY FASHION.

continued from page 075

WHAT I DO:

“I’m chief marketing officer for nVenue, a tech company that generates predictive analytics for live sporting events. I also own a 360-photobooth tech company.”

STYLE ICON:

“I’ve drawn a lot of inspiration from F1. Lewis Hamilton’s fashion is high energy, sporty, and chic. He has inspired me to try new textures, prints, and sleek eyewear in my looks.”

ON THE JOB:

“Each of my roles has crossover between sports, tech, and events. NVenue recently signed a deal with the NBA, so my sneaker game has improved.”

STYLE DEFINED:

“If Nike and Club Monaco curated a closet, it would look a lot like mine.”

FASHION ESSENTIAL:

“I never leave home without my Smartish phone case. I’ve never liked purses, so it turns my phone into a sleek, minimalist wallet. ”

GO-TO LOOK:

“If you see me, there’s a 99.9 percent chance I’m wearing a tailored, high-waisted trouser, a long-sleeve body suit, a blazer, and a slickedback bun.”

HOW I ACCESSORIZE:

“Gold hoops and my Yankees cap”

WEEKEND LOOK:

“My weekends are focused on my photobooth events. We work with brands like Red Bull and the Mavericks, so I like to introduce more playful looks with bright colors and dope sneakers.”

FAVORITE STORE:

“My two favorites are both woman- and locally-owned brands: PWR WMN and By Way of Dallas. I love PWR WMN’s blazers.”

Executive Book Club

Area leaders tell us the one book they think everyone should read—and why.

“American Cities by Jane Jacobs stands the test of time and provides an understanding of how design and infrastructure impact urban living and quality of life. America’s future is in our cities; we need to ensure that they are rebuilt with people in mind. This is especially true in Dallas; in fewer than 15 years, our metro will be larger than Chicago’s. We have the opportunity today to create the infrastructure needed to take this growth on as a benefit and raise as many people up as possible.”

PHILIP HIATT HAIGH | The Loop Dallas

“The Effective Executive by Peter Drucker has helped me focus on what I’m capable of doing with my time and resources. When the need is greater than the resources available, we must be creative to be effective.”

“With the Bark Off: A Journalist’s Memories of LBJ and a Life in the News Media by Neal Spelce. His stories are riveting and have never been told. If you love history, politics, or just Texas, you’ll love this book.”

“Shoe Dog by Phil Knight is the story of how a small company with funny-looking running shoes became the biggest name in sports retail. The book is a must-read for small business owners who dream of growing into something great.”

“The Road Less Traveled by Dr. M. Scott Peck. There is an inextricable link between pain, love, and growth. We’re hardwired to try to avoid pain; we push it away, medicate it, and will do almost anything to avoid it.”

“The Body Keeps the Score by Bessel van der Kolk. He teaches about the ripple effects of trauma, how the body stores trauma, and how the psychology industry is fractured in treating these issues with medicine versus therapy.”

“Can We Agree

by Sabine Landolt and Agathe Laurent shares scenarios from the perspective of two different cultures and offers suggestions to both sides. It is fascinating to see the world through the eyes of someone else.”

to Disagree?

FLORENCIA V. FORTNER The Concilio CRAYTON WEBB Sunwest Communications

SANA SYED Allyn Media

GENE BESEN Bradley

JEANETTE TECKMAN Match Group

FRANK M. CASTORA Eviden

www.corinthproperties.com

At Link Logistics, we partner with local teams to develop best-in-class infill facilities tailored to market demands. It is an honor to be recognized alongside our partners MW Builders, GSR Andrade Architects and Halff for our Live Oak Logistics project. Congratulations to all finalists and winners, including MW Builders’ Charles Rombold, who was named in the Emerging Commercial Real Estate Professional of the Year category.

Find out more about Link Logistics and MW Builders at: LINKLOGISTICS.COM/DEVELOPMENT MWBUILDERS.COM

Deeg Snyder’s Mischievous Years as MSU’s Mascot

The Gensler co-managing director’s personality and zest for fun were unleashed wearing the Bulldog costume.

story by BEN SWANGER

In 1992 , deeg snyder enrolled as an architecture student at Mississippi State University and quickly learned, for one reason or another, that “architecture programs discourage a lot of outside involvement in university life, which I had a huge problem with,” he says. So, naturally, Snyder became overly involved with university life. As a freshman, he rushed and joined a fraternity, became involved in student govern-

ment, and tried out for and made the school’s cheerleading team.

When MSU’s 1993 football season was approaching, the team’s former mascot had graduated, and Snyder—now co-managing director for Gensler’s Dallas office—had eyes on a new role. “I don’t have to do anything except show up, be mischievous, play around, and have fun? And I can retain anonymity? Sign me up,” he recalls thinking.

To say Snyder had fun sporting the Bulldog costume is an understatement. Before the school’s game against the University of Arkansas in 1993, Snyder worked the tailgating lots and found an MSU fan smoking a hog. “So, of course, I asked for the head,” he laughs. Snyder paraded the hog’s head around the stadium and offered to feed pieces of it to fans.

A few weeks later, the Bulldogs played at the University of Florida. Snyder’s envious eye found Albert, the Florida mascot, crowd-surfing in the stands on the opposing side. “I went up to him and said, ‘Hey, at halftime, do you think we could switch outfits? I really want to crowd surf,’” Snyder remembers. “So, he said, ‘Sure, why not,’ and we switched outfits for an entire quarter so I could do that.”

The architect says he consistently pushed the boundaries as a mascot. He remembers his coach sticking up for him a time or two against the athletic director to ensure Snyder did not lose his cheer scholarship. “Let’s just say some of the things I did probably wouldn’t have passed somewhere like UC Berkeley,” Snyder jokes.

The most fun he ever had, he says, was at mascot camp at the University of Georgia. “We used to spend all day working on ways to expand our characters while the real cheerleaders trained— so we had a lot of downtime,” Snyder says. “One of our skill-building days was spent wreaking havoc at a grocery store. And one night, all the mascots went out in full costume and did a bar crawl.”

If there’s one lesson from the experience Snyder has transferred to the executive ranks, it’s getting noticed. “In the professional world, I feel I was able to advance in my career because I established my brand and made an impression,” he says. “Today, as a leader, I think it’s important to understand everybody has a hidden talent; you just have to develop that connection to better understand what it is.”

BULLDOG DAYS

Deeg Snyder was known for pushing the boundaries as Mississippi State’s mascot, but it was all in good fun.

SNAPSHOT

NAMED #1 MULTI-UNIT RESIDENTIAL BUILDER IN 2023 BY ENR TX & LA.

Founded in 1991, ANDRES is a 100% employee-owned general contractor that specializes in a wide array of project types such as high-rise residential, woodframe multifamily, o ce, institutional, adaptive reuse, hospitality, retail/restaurants, student housing, and senior living.

URBAN OASIS

The Maybourne Beverly Hills is a block from Rodeo Drive but feels miles away from civilization.

COZY DIGS

The property’s design is as welcoming as it is luxurious, making the five-star hotel’s guests feel right at home.

Beverly Hills, California

The Maybourne Beverly Hills is a luxurious home base to explore the best of Los Angeles, a frequent destination of Alto CEO Will Coleman.

story by WILL MADDOX

POOL VIEWS

The property’s rooftop pool makes for a yearround destination with views of the Hollywood Hills.

SMOKY DEN

The Maybourne’s Cigar and Whiskey Bar is a great place to escape L.A.’s hustle and bustle.

FULL-DAY FARE

Meal offerings range from fresh breakfasts served at dawn to underthe-stars dining at night.

ELEGANT ESCAPE

Dining among lemon trees on the sunny patio at The Maybourne’s Terrace is quintessential Southern California.

WELL TRAVELED

CITY OF ANGELS

Beverly Hills is the perfect home base to experience Los Angeles’ mountains, beaches, and entertainment.

Wwhere else in the world can you shop at Hermès and Cartier between under-an-hour drives to enjoy sandy beaches or hike in the mountains? The question occurred to me as I settled into a suite at The Maybourne Beverly Hills, a five-star hotel one block from Rodeo Drive. The answer to that question, especially enjoyed in the sunny and breezy California weather, is nowhere.

The only problem with staying at The Maybourne, surrounded by some of the best shopping, entertainment, and food in the world, is that you may not want to venture off its grounds. The rooftop pool club, dining options, and expansive spa make it a difficult place to leave, even for the beaches of Malibu or the San Gabriel Mountains, where a hike and waterfall made my wife and I feel like we were hours from civilization.

As we unpacked into our luxurious suite, which was larger than our first duplex, we couldn’t help but notice the homey feel established by comfortable furniture complimented by curated, unique art and coffee table books.

A patio lunch at The Terrace at the Maybourne among lemon trees screamed California. We enjoyed cocktails and tagliarini topped with the best lemon crème fraîche sauce I’ve ever eaten.

Even though it was January, we didn’t want to miss a chance to see the beach, so we made the

quick trip to Malibu to have dinner as the sun set over the Pacific.

We loved our fare in Koreatown (cook-atyour-table barbecue) and appreciated the extra volume of breakfast burritos (compared to Dallas’ local breakfast tacos), but the Maybourne’s dining and cocktail experiences were truly memorable. In addition to The Terrace, the hotel has a café grab-and-go option and The Cigar and Whiskey Bar, a wood-paneled nook where one could imagine deals had been closed.

The complexity of the unique cocktails at The Maybourne Bar has stayed with me. The extensive and creative menu made me regret only ordering two, though I can vouch for the Bourbon-based Bounty Law and Demon Slayer.

The Maybourne Hotel Group is a more than 200-year-old Qatari-owned British hotelier whose Beverly Hills property was its first outside London. The property was replete with eye-catching art like Alex Israel’s “Wave” and Marc Newson’s aluminum surfboards. The hotel’s spa services were top-notch, with my wife enjoying a husband-free day, getting a massage, and soaking in the mineral pool. Meanwhile, I took advantage of the gym, rivaling any private fitness club.

The Maybourne opened a rooftop bar and restaurant, Dante, a West Coast outpost for the original Dante in New York City. The spicysweet Diavola pizza paired well with the savory Dante’s Burrata, and the Fireside Old Fashioned was tough to beat while looking out at the lights of the Hollywood Hills.

A Runyon Canyon hike that overlooked Hollywood and nearby comedy shows were icing on the cake for our stay and an advantage to lodging at The Maybourne. For a mom and dad with two energetic young sons, it was the perfect escape.

TRAVEL TIPS

Soak Up the Sun

Los Angeles is one of the largest markets for ride-share brand Alto, meaning CEO Will Coleman is in Southern California every few months. While there, he loves a morning run on the beach and spending time in Beverly Hills, which he says feels like an oasis within the hustle and bustle. Two of Coleman’s favorite spots are the Santa Monica rooftop of Italian restaurant Élephante and The Rooftop by JG in the Waldorf Astoria Beverly Hills, which provides an eye-catching panorama of the surrounding hills. “Beverly Hills reminds me of Highland Park, but even more luxurious,” Coleman says. “It’s a similar vibe with residential, great shopping, and restaurants. It’s relatively dense but pretty easy to get around the area.”

PHOTOGRAPHY COURTESY OF THE MAYBOURNE BEVERLY HILLS AND SHUTTERSTOCK

ARNOLD SHOKOUHI

M

CATHERN, SHOKOUHI, EVANS

ON THE MOVE

After fleeing Iran with his

and

in

countries before he was 7 years old.

A SAFEGUARD

Shokouhi with his mother, Mahim (center), who did whatever necessary to ensure a better future for her family.

story by LAYTEN PRAYTOR

illustration by JAKE MEYERS

arnold shokouhi left iran in in 1979 with his family during the Iranian Revolution. He was an infant when his mother fled the country with his middle brother and him, after his oldest brother left on his own to avoid being drafted before the Iran-Iraq War. Shokouhi crisscrossed Europe as a child before eventually landing in Austin in 1986. Now a managing partner at his law firm, Shokouhi credits his mother with the life he leads today. “My mom is the hero of the story. She was married to my father, who was an absentee father and eventually fell out of the picture. She took my brother and me and escaped through some tunnels and got us to Turkey. That is when we applied to the American Embassy to come to the U.S. We lived in Turkey for two years until all our documentation was approved. Our next stop was Italy, and we were there two years before we landed in

Las Vegas, of all places. From there, my mom picked Austin. She wanted a college town because she understood education would be important in her children’s lives. My mom came to this country and did not speak a lick of English. My oldest brother came over from Europe and met us. So, it was my mom and her three sons. She went to cosmetology school, became a hairstylist, and now has her own salon. She never remarried and just did it on her own. We are the American dream. I have a unique American experience because we were adamant about not taking advantage of social services and making something of ourselves in the process.”

ROOTS

Managing Partner

BROTHERLY LOVE

Shokouhi and his older brother Mike (far right) stuck by each other’s side during their journey to America.

mother

brother, Shokouhi lived

three different

An infant Shokouhi with his immediate and extended family. After being separated for decades, they all now live in the U.S.

2024 D CEO

Real Estate

Executive Education Guide

During times of economic disruption, professionals and executives turn to higher education so they can make a strategic career move. Fortunately, Dallas-Fort Worth has several advanced degree programs recognized throughout the country for excellence and results.

The University of North Texas

ADMISSIONS/ RECRUITMENT CONTACT

Nichole Tyler, M.A.

940-565-3038

Nichole.Tyler@unt.edu

UNT AT FRISCO

12995 Preston Road, Frisco, Texas 75033  940-369-8977

1

What is the one thing that you want prospective students to know about your school/program?

The DBA degree at UNT is a practitioner-oriented program anchored in industryfocused research problems. It is designed to allow students the flexibility to work while they earn their doctorate.

2

4

Prospective students are interested in the return on their investment. How does your program prepare students in terms of salary potential, career opportunities, and specific competencies?

The DBA program opens diverse career options for executives and managers who want to become thought leaders in their fields, advance in their current industry as consultants, lead new entrepreneurial ventures, and use advanced research skills to analyze business problems within their current positions. Graduates may choose to join academia as business school faculty as a second career.

Businesses need quality leaders to grow and thrive. How does this program prepare professionals to assume leadership roles?

Small classes taught by expert faculty prepare leaders through development of advanced research and analytical skills. Unique courses that enhance leadership skills include Value Creation Theory and Practice, Strategic Business Management, Innovation and Entrepreneurship, Digital Transformation, Transformative Leadership, Managing Complexity Theory and Practice, and The Global Marketplace.

What types of partnerships should higher education, business, and the community be engaged in?

Business education must be anchored in current business practice. The Ryan College of Business has strong partnerships with major corporations who advise on curriculum, speak in classes, mentor students, and support research progress. Our goal is to prepare our students for future business evolution by providing them with a robust tool kit to address business problems through critical thinking and analysis.

DBACOBA@unt.edu

FORMAT OPTIONS AND LENGTH

Hybrid format meeting four weekends each semester for 36 months

TOTAL PROGRAM ENROLLMENT

Average cohort size - 15

TUITION RANGE

Total cost per semester credit hour (SCH) - approximately $2,375

Overall approximate cost for three-year program - $114,000

CONCENTRATIONS

Degree focus is strategic management and leadership with student research that is individualized and industry-focused

AVAILABILITY OF ONLINE/ HYBRID COURSES

Hybrid with online content and instruction supplementing weekend in-person sessions

RANKINGS

All MBA program formats are ranked in the U.S. News & World Report top 100

Ranked No. 10 Best Online DBA

Programs for 2024, according to College Consensus

ACCREDITATION

SACSCOC and AACSB

DESIGNATIONS

Designated a Hispanic-Serving Institution (HSI) and Minority Serving Institution

“Since 1942, the G. Brint Ryan College of Business at the University of North Texas has been preparing students for success in business and public service. We continue to be recognized as a leader in business education and scholarship. We accomplish these goals by recognizing and practicing the core values and mission of the College in our everyday teaching, mentoring, and scholarship. The DBA program, our newest degree, provides advanced research skills to managers and executives seeking to grow intellectually and increase their opportunities for the future.”

Marilyn Wiley,

3

The G. Brint Ryan College of Business Doctor of Business Administration (DBA)

Dean, G. Brint Ryan College of Business

UTD

Naveen Jindal School of Management

1 What is the one thing that you want prospective students to know about your school/program?

“This program will boost your already successful business career to the next level and give you knowledge, confidence, and techniques to solve real-world business problems.”

– Vijay Mookerjee, PhD, Director, DBA, Professor

2

Prospective students are interested in the return on their investment. How does your program prepare students in terms of salary potential, career opportunities, and specific competencies?

“Corporations need good strategic thinkers and problem solvers who can base their decisions on the correct analysis of data and information. Graduates of our program are prepared to emerge as adaptable professionals capable of resolving complex business challenges, thus enhancing their career prospects and elevating their potential.”

– John Barden, Associate Dean, Executive Education, Clinical Professor

3 Businesses need quality leaders to grow and thrive. How does this program prepare professionals to assume leadership roles?

“Converting data into meaningful knowledge for decision-making is becoming an increasingly important leadership skill. “The use of analytics in business decisionmaking is the latest tool for managers who want to be leaders in their fields. Our faculty has deep expertise in the area and has experience working with businesses. While we teach analytical skills in our highly acclaimed Ph.D. program, busy executives do not have the time to complete such a long program. Inspired by constant queries from local businesses over the past few years, we created our DBA program, which addresses the needs of experienced executives.”

– Amit Mehra, PhD, Co-Director,

DBA, Professor

Vijay Mookerjee, PhD, Director, DBA, Professor

John Barden, Associate Dean, Executive Education, Clinical Professor

The University of Texas at Dallas

EXECUTIVE EDUCATION SCHOOL AND/OR PROGRAM NAME

Naveen Jindal School of Management Executive Education

ADMISSIONS/RECRUITMENT

CONTACT

Lori Brannon

972-883-5851

Lori.Brannon@utdallas.edu

FORMAT OPTIONS AND LENGTH

Cohort Learning Format

Saturday Only Classes

Three years to complete the program

Eight hours/week for the first two years (Classes)

Nine hours/week for the third year (Dissertation)

CAMPUS LOCATION

Richardson, Texas

TOTAL PROGRAM ENROLLMENT

10 to 20 students per cohort

TUITION RANGE

$20,000 per semester

RANKINGS

No. 2 worldwide and in North America in research contributions 2018-2022

The UTD Top 100 Business School Research Rankings ™ (2023)

No. 17 among public programs and No. 30 overall Fortune Best Executive MBA Programs (2022-2023)

ACCREDITATION

AACSB

Amit Mehra, PhD, Co-Director, DBA, Professor

ONE WORD TO DESCRIBE THE DOCTOR OF BUSINESS ADMINISTRATION AT UTD

Thought Provoking Collaborative Exhilarating Intensive

Challenging Quickening

Fascinating

Rigorous Engaging Awesome

The inaugural Doctor of Business Administration class embodies a diverse cohort of trailblazers, leaders, and innovators. Our program cultivates high-level thinkers and problem solvers, bridging academia with real-world experience. Students engage closely with our experienced faculty in our dynamic learning environment, simulating real-life boardroom scenarios. Experience the future of business leadership with our DBA program. Scan the QR Code to explore how you can join the next DBA cohort today!

Naveen Jindal School of Management

THE UNIVERSITY OF TE XAS AT D ALLAS

Amee’ra Fuller UT Austin – Dell Medical School

Aaron Galloway Airbus Helicopters, Inc.

James Harbur Greystone

Rami Hasan SNP Transformation

Ramiro Ortiz The Hackett Group, Inc.

Helena Pugh Iola Marie Corporation

Varsha Ramanathan ESAB

Joshua Rangel United Musculoskeletal Partners

John Trevino Trevino Solutioning, LLC.

Nathanial Walker Collin College

THE UNIVERSITY OF TEXAS AT ARLINGTON

1 What is UTA’s key differentiator in the marketplace?

The UTA Executive MBA (EMBA) program combines intellectual study, professional development programming, and a unique global business experience, providing an exceptional foundation for a fulfilling career. The EMBA includes a Leadership Laboratory and global immersion experience so students benefit from real-world, hands-on business scenarios.

2 3 What are some descriptions of a UTA EMBA student?

Our students come from diverse industry and cultural backgrounds. Typically, around 50% of our students are director-level and above with 10-plus years of management experience. About 79% of our students are Texas residents, and their average age is 36-38.

How does your institution prepare a diverse executive workforce for a global economy?

UTA’s EMBA provides an unmatched, one-of-a-kind global immersion experience for students to intimately understand and explore the nuances of international business.

Congratulations to all the 2024 D CEO

Real Estate Awards Finalists and Winners!

For 30 years, TREC Community Investors (TREC CI), the philanthropic arm of The Real Estate Council (TREC), has partnered TREC members’ industry expertise with community organizations to create catalytic change that transforms neighborhoods, empowers communities and turns vision into reality.

Together through the Dallas Catalyst Project (DCP), they have completed 22 projects that are revitalizing South Dallas’ Forest District, including the long-vacant historic building at 1632 MLK Blvd. and the South Dallas Cloud Kitchen, the neighborhood’s first commercial kitchen. These projects provide essential services to residents and foster sustainable success in one of Dallas’ most historically underserved neighborhoods. Join us as we begin work in our next DCP neighborhood – East Dallas’ Mill City.

The Man Who Refined Dallas

Dstory by BRIDGET REIS

allas oilman everette lee deGolyer was born in Kansas and studied mining engineering at the University of Oklahoma. He got his start in Mexico’s energy industry and, at 24, he was part of a group that struck oil. He went on to form several oil companies and revolutionized exploration techniques. “Prospecting for oil is a dynamic art,” he once said. “The greatest single element in all prospecting, past, present, and future, is the man willing to take a chance.” After rising to president of Amerada Petroleum Corp. (now the $11.3 billion Hess Corp.), he moved to Dallas in 1932. He invested in Geophysical Services Inc. with Texas Instruments founder Eugene McDermott and future Dallas mayor J. Erik Jonsson, then formed DeGolyer & MacNaughton, an oil services consulting firm.

In 1939, he and his wife Nell built a 44-acre estate known as Rancho Encinal on the banks of White Rock Lake, ultimately gifting their 13room Spanish Colonial Revival home to Southern Methodist University. It is now operated by the Dallas Arboretum and Botanical Society and listed on the National Register of Historic Places. DeGolyer served as director of conservation with the Office of the Coordinator for National Defense and in other oil-related government roles, sat on the boards of the Dallas Museum of Art, Dallas Arboretum, and Dallas Public Library, and helped found St. Mark’s School of Texas. A fan of rare books, his collections were donated to the University of Oklahoma and The University of Texas at Austin. A gift from his estate established the DeGolyer Library at SMU, and a Dallas ISD school also bears his name.

WELL-READ Along with shaping the oil industry, Everette DeGolyer was a noted collector of rare books.