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CONTENTS MARCH 2021

VO LU M E 1 6 | I S S U E 0 2

24 Other People’s Money Legacy Knight’s Matt Ogle and Abe Minkara are harnessing the power of family offices with their entrepreneurial endowment model. story by WILL MADDOX photography by SEAN BERRY

30 The Magic of Make-Believe Former Mattel executive Geoff Walker is adding a spark of innovation at KidKraft, unleashing imagination and driving record-breaking sales. story by CHRISTINE PEREZ

P H OTO G R A P H Y BY J O N A T H A N Z I Z Z O

portraits by JONATHAN ZIZZO

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CONTENTS

8 EDITOR’S NOTE

DOSSIER

1 3 YO U N E E D T O K N O W

Diana Mao, Nomi Network 16 MEET THE 500

Rob Walters, Gibson Dunn 1 6 L O C A L LY S O U R C E D

ParkHub 1 8 I N N O VAT I O N

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Nomad Grills 2 0 O N T H E TA B L E

Alvaro Luque, Avocados From Mexico 22 WINE

Sarah Shadonix, Scout & Cellar

FIELD NOTES 37 LESSON LEARNED

3 8 H E A LT H C A R E

The pandemic has led to unprecedented collaboration between the region’s hospital systems. 40 ON TOPIC

Rogers Healy of Rogers Healy and Associates Real Estate, Trudy Sullivan Stoudamire of Health Catalyst, and Ted Ogawa of Toyota Motor North America on what they learned from their first jobs. 42 DIVERSITY AND INCLUSION

Tré Black on how executives can help create a new model of economic equity by supporting Black-owned businesses.

OFF DUTY 45 STYLE

Daniel Mofor, Don Morphy 4 6 G R E AT E R G O O D

Brad Hunstable, Linear Labs P LU S

COMMERCIAL

REAL ESTATE ANNUAL

48 SNAPSHOT

F E AT U R I N G

OUR 2021 CLASS OF POWER BROKERS

Jessica Nemmers, Elevate Credit 48 PURSUITS

Taylor Rex Robertson, Haynes and Boone

5 0 W E L L -T R AV E L E D : B I G S K Y, M O N TA N A

Doug Chesnut, StreetLights Residential

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MARCH 2021

Legacy Knight’s Matt Ogle and Abe Minkara are harnessing the power of family offices.

52 ROOTS

Carlos Vaz, CONTI Organization 100 ENDMARK

John Neely Bryan

ON THE COVER: Matt Ogle and Abe Minkara of Legacy Knight, photographed by Sean Berry on location at Catbird in The National.

G R I L L C O U R T E S Y O F N O M A D G R I L L S , S T Y L E BY E L I Z A B E T H L A V I N , T R AV E L C O U R T E S Y O F S P A N I S H P E A K S M O U N T A I N C L U B , S N A P S H OT C O U R T E S Y O F J E S S I C A N E M M E R S

Jared Pope, Work Shield

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LETTER FROM THE EDITOR

Playing the Market for Beer Money

PLAN. WORKSITE FINANCIAL RETIRE. EDUCATION ENJOY.

Gardner Wallace specializes in lifeexperienced cycle financial planning The team at Gardner Wallace Financial Solutions and delivering worksite provides a wide array of financial financial are solutions to education. their clients, We working closely with them Financial to identify CFE Certified needs, develop appropriate Educators® trained to deliver solutions and implement a plan financial Contact that evolvesliteracy. with them throughus all life stages. Because no two for more information on this individuals or businesses are highly appreciated identical, the Gardnerbenefit. Wallace team crafts customized plans to help you meet your unique goals.

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P H OTO G R A P H Y BY E L I Z A B E T H L A V I N

Enhances EE Benefit Participation Robust Financial Curriculum Enhances EE Production Customized Financial Plans

my youngest son has a job as an intern, but i still occasionally help him with expenses while he finishes his education. Toward the end of January, I realized it had been a long time since he had asked for money. I wondered if he had gone back to Uber driving or if he was just managing his $8-an-hour income exceptionally well and gave him a call to find out. “Oh, I’m fine,” he told me. “I’ve been investing in the stock market.” I was, to put it mildly, surprised. (I don’t know how you were raising beer money when you were in your early 20s, but I can assure you, I was not investing in stocks.) My son told me he wasn’t one of the meme-stock investors spurred on by Reddit—although he did double his money on AMC, quickly getting in and out; he began investing with the first stimulus check he got last April. “I threw money in when things were down, pulled back around August, and then when I got the second stimulus check, I put more in,” he said. He trades on Webull, a mobile, commission-free app. About 20 of his friends also actively invest. “I mostly do some SPACs and EV stuff,” he said. “What are specks?” I asked. “SPACs,” he clarified. “Special purpose acquisition companies. And EVs are electric cars.” “I know that,” I said, a bit miffed that he knew more about the topic than his business-magazine-editor mom. “Where do you get info?” I asked. “Discord and Twitter and group chats,” he said. “What’s Discord?” I asked. “You know you can Google this stuff,” he replied. Mine isn’t the only kid getting into the market. “I’ve got to say I LOVE LOVE what is going on with #wallstreetbets,” Mark Cuban recently tweeted. “Speed and density of information and retail is giving the little guy an edge. Even my 11-year-old traded with them and made $.” It will be interesting to see what impact these young investors will have going forward, but I’d rather my son spend his free time studying up on businesses than playing Fortnite any day.

Christine Perez Editor

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P U B L I S H E R Gillea Allison EDITORIAL EDITOR Christine Perez MANAGING EDITOR Will Maddox ONLINE MANAGING EDITOR Bianca R. Montes ASSOCIATE EDITOR Kelsey J. Vanderschoot CONTRIBUTING WRITERS Richard Alm, W. Michael Cox, Art Stricklin EDITORIAL INTERNS Ellie Beeck, Maria Hieber, Mariah Terry, Chance Townsend Meet the 51 changemakers who are disrupting business in North Texas—and beyond. JANUARY/FEB RUARY 2 02 1

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J U N E /J U LY:

Women Leadership + State of Healthcare Roundtable Space Reservation: May 14 AU G U ST:

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BUSINESS CONTROLLER Debbie Travis ACCOUNTING MANAGER Sabrina LaTorre STAFF ACCOUNTANT Lesley Killen IT TECHNICIAN Luan Aliji

WEB EDITORIAL DIRECTOR Matt Goodman

MAIL 750 N. Saint Paul St., Ste. 2100, Dallas, TX 75201 The magazine assumes no responsibility for the return of unsolicited manuscripts. WEBSITE www.dmagazine.com/publications/d-ceo MAIN OFFICE 214-939-3636 ADVERTISING 214-939-3636 x 128 REPRINTS 214-939-3636 SUBSCRIPTION SERVICES For immediate assistance, call 214-939-3636 x 232. For other inquiries, e-mail customerservice@dmagazine.us. SUBSCRIPTIONS 11 issues for $54 in the United States, possessions, APO and FPO; $70 per 11 issues elsewhere. Please provide old and new addresses and enclose latest mailing label when inquiring about your subscription. For custom publishing inquiries, call 214-540-0113.

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Ample digital opportunities, special sections, and custom sponsorships available as well. Contact president and publisher Gillea Allison to get started: Gillea@dmagazine.com.

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EDITOR-IN-CHIEF AND CEO Christine Allison PRESIDENT Gillea Allison CHIEF FINANCIAL OFFICER Thomas L. Earnshaw CHIEF OF STAFF Rachel Gill FOUNDER Wick Allison

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MARCH 2021

DOSSIER TRENDS

WATC H

a n d

NORTH TEXAS NEWSMAKERS

YOU NEED TO KNOW

Diana Mao Is Fighting Dallas’ Human Trafficking Problem COURTESY OF N O M I N E T W O R K

The Nomi Network president and CEO is partnering with corporate supporters to help victims break free. story by KELSEY J. VANDERSCHOOT

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DOSSIER

diana mao, the co-founder, president, and CEO of Nomi Network, developed a passion for human trafficking service work during a research fellowship trip to rural Cambodia while pursuing a finance degree at NYU. “After we had interviewed [a finance client], he proceeded to offer my male colleague his daughter, in broken English,” she says. “You like her, you take her,” the client said. Mao’s travel group had also seen girls as young as 12 with foreign men on the streets near Phnom Penh’s brothels. “That really opened my eyes to the issue,” she says. When she returned to New York in late 2008, Mao joined a business consulting firm and began conceptualizing what would become Nomi Network. Spending her nights and weekends building out the nonprofit, she returned to Cambodia and interviewed about a dozen anti-trafficking organizations before deciding to dedicate her efforts toward workforce development. “I had the idea of ‘Well, what if we could create job opportunities for women and girls in these communities and keep families together so that families wouldn’t have to send their children to go work in the city or wouldn’t have to resort to selling their own children,” Mao says. While there, she met an 8-year-old survivor, Nomi, who had been trafficked by her stepfather and was on the road to

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healing. “I thought, ‘She is our client,’” says Mao. She named her nonprofit after the young girl, founding Nomi Network in 2009. Three years later, she left her consulting career to focus on the organization full time. From 2012 to 2019, Nomi Network served more than 10,000 human trafficking survivors in Cambodia and India, where half of those living in slavery worldwide reside, through workforce development assistance. “In these rural communities where there’s sometimes no access to running water or electricity, women are now able to secure the means to provide for their families, keep their children in school, and prevent the next generation from being trafficked,” Mao says. A 2015 Presidential Leadership Scholar and New York Academy of Medicine Fellow, she has written advocacy articles for the U.S. Chamber of Commerce and served on the White House’s council to end human trafficking. Now, Mao has relocated to North Texas to expand Nomi Network in America, starting with Dallas, which has the country’s third-highest incidence of human trafficking and the nonprofit’s first U.S. training program for adolescent girls. “There was just a real strong demand for similar type services that we offer in India,” Mao says. The program will help 50 women in the Letot “Companies young Juvenile Detention Center want to get in North Dallas—who have involved and faced charges of prostitution or other nonviolent help tackle crimes—foster professional the issue of skills and find internships. human Attracted to Dallas in part by the corporate base in the trafficking.” area, Mao plans to leverage existing relationships with Gap, Fossil, AT&T, and Sephora and is in talks with leaders at Neiman Marcus, Southwest Airlines, and Hilti. “More companies want to get involved and help tackle the issue of human trafficking, and that has definitely worked in our favor,” Mao says. The program will launch in June. Mao will then review success metrics with the hope of replicating the program across the state and, eventually, beyond. “For us, it’s really a matter of continuously staying on top of data and which cities have the highest prevalence rates,” she says.

S TAT I S T I C S

A Concealed Crisis Although human trafficking may not be as evident in the United States as it is in third-world countries, the numbers for Dallas and the state of Texas are astonishing. 40 million people live in slavery worldwide. Half of them reside in India.

In the U.S., runaway and homeless youth are among those with the highest risk of being trafficked.

Texas and California have the highest number of human trafficking cases in the U.S.

Houston has the most incidences of human trafficking; Dallas ranks third.

New Friends New Life, which supports survivors, reports that an estimated 400 teens are sold for sex every night in Dallas, as part of a $99 million illegal industry.

Overall, the nonprofit reports, human trafficking affects more than 300,000 annual victims statewide.

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DOSSIER

FRESH IDEAS

Changing the Way We Park MEET THE 500

ROB WALTERS Partner-in-Charge GIBSON DUNN

along with his leadership role at gibson Dunn and his work as a trial and antitrust lawyer, Rob Walters dedicates his time to nonprofit and community endeavors. He was instrumental in making Klyde Warren Park a reality, and he recently took the helm of the Dallas Citizens Council as chairman. “I’m excited about the emerging consensus in Dallas about who we want to be,” he says. EDUCATION: The University of Texas at Austin, JD, BA BIRTHPLACE: Gene Autry, Oklahoma BEST ADVICE: “Don’t be afraid to ask the tough question. Own your mistakes. And don’t worry about the credit—you’ll get far more done.” DINNER PARTY: “If I could have dinner with any two Dallas-Fort Worth business leaders, I’d choose Ron Kirk and Fred Perpall. They represent the best of Dallas and are committed to inclusive growth and prosperity.” MUST-READ: “I think everyone should read the book Sapiens by Yuval Noah Harari. It answers so much about who we are as a species.” FAVORITE PET: “Jessie, a seven-pound

Casserole and Blue Bell Cookies ’n Cream ice cream.” BEVERAGE OF CHOICE: “Sadly, Diet Coke” LOOKING AHEAD: “I’m excited about the opportunity for all of us in Dallas to build a better city, together.”

rescue chihuahua” FAVORITE THING: “Having dinner in a scenic place with my family” PROUD MOMENT: “A highlight was prevailing over the Department of Justice in AT&T’s $108 billion acquisition of Time Warner.” 2020 TAUGHT ME: “Everybody has a plan until they get hit.”

SPORTS FAV

ParkHub’s system is popular with the four major pro sports leagues.

the world’s first parking meter was installed in 1935 in Oklahoma. The ensuing years didn’t bring much in the way of innovation. Then, George Baker came along. The CEO of ParkHub created a way to digitize parking for lot owners and create a contactless platform for drivers. His system is now used at 650 destinations, adding up to more than 3.7 million parking spots across North America. “I’m always trying to innovate and provide a better solution; that’s just at my core,” Baker says. As he developed his idea, he realized he “had lightning in a bottle.” ParkHub’s product takes care of some operational processes that a parking attendant would typically manage and works with external booking engines like Ticketmaster. It has a 48 percent market share among the four major sports leagues—NBA, NHL, NFL, and MLB. Baker says his company hit nearly 40 percent year-overyear growth for 2020, despite the pandemic. “We’re finding more uses for our technology,” he says. —Jenny Rudolph

WA LT E R S BY J A K E M E Y E R S ; PA R K H U B C O U R T E S Y O F P A R K H U B

With ParkHub, George Baker uses technology to disrupt an industry that has been around for decades.

A BETTER DALLAS: “If there was one thing I could change about Dallas to make it even better, I would plant more seeds of growth and prosperity in southern Dallas.” NONPROFIT CAUSE: “Klyde Warren Park. It’s where Dallas gathers—our town square.” LAST MEAL: “For my last meal, I’d choose King Ranch

This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the region’s most influential business leaders. Visit www.dallas500.com for details.

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DOSSIER

ENTREPRENEURS

story by WILL MADDOX

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if you asked the average person 20 years ago if they would be paying hundreds of dollars for an ice chest, they might have laughed at you. But Yeti made the cooler a lifestyle choice, and customers are willing to pay top dollar for a statement product that’s as much about form as it is function. Dallas-based Nomad may be doing the same thing for the portable grill and smoker. The aptly named company was launched by founders Cam Leggett and John Veatch, who came up with the idea in 2016 and spent several years researching and developing the design. “It takes a minute to build anything that’s worthwhile,” Leggett says. The grills, which sell for $599, are crafted with durable aircraft-grade aluminum that keeps the shell temperature low during use, meaning you can grill on the tailgate of a truck or other unconventional surfaces. It has venting that controls the heat for low and slow smoking, all while folding up like a suitcase, weighing under 30 pounds, and providing up to 425 square inches of grill space. The product gives barbecue enthusiasts a grill that maintains portability, size, and quality while letting them grill or smoke with high-quality charcoal and wood. Leggett and Veatch focused on details that most wouldn’t even consider when thinking about a grill: honeycomb-shaped grill grates to maintain strength, a charcoal line that is sourced in Thailand and burns hotter for longer, and, for future iterations, removable rubber pieces to change the trim color. “This is not a pet project,” Leggett says. “We’ve gone deep.” Leggett and Veatch left careers in homebuilding and marketing, respectively, to launch Nomad. Their grill’s design and functionality immediately gained traction and is attracting customers all over the world. Since the product was introduced a year ago, the entrepreneurs have had trouble keeping enough inventory to meet the demand. Nomad grills have been purchased in nearly every state and shipped to Australia and 24 countries throughout Europe and the Middle East. “It has all these rad touchpoints and rad materials,” Veatch says. “But at the end of the day, the versatility and performance of the cast cook box hold the heat in extremely well.” You can find the grills online or at Nomad’s showroom FOOD TRUCK Due to its in Bishop Arts District. But temperatureyou may need to get on a controlled shell, cooks can use waiting list; Leggett and Vethe Nomad grill on tailgates and atch sold out of their current other nontradiinventory in January. tional surfaces.

P H OTO G R A P H Y C O U R T E S Y O F N O M A D

BBQ to Go: Nomad founders Cam Leggett and John Veatch are disrupting the portable grill market.

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2/8/21 1:38 PM

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DOSSIER

O N T H E TA B L E

How Alvaro Luque is Reinventing the Way Food Is Marketed With innovative strategies and a powerhouse budget, he has built “the Coca-Cola of produce” at Avocados From Mexico.

story by CHRISTINE PEREZ illustration by JAKE MEYERS

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when i reached out to set up lunch with Alvaro Luque, CEO of Avocados From Mexico, there was no real question about where he’d want to dine. AvoEatery in Trinity Groves opened in early 2020, just weeks before COVID-19 wreaked havoc on, well, everything. But the restaurant is doing surprisingly well, and there’s already talk of expansion—at Trinity Groves and in sports venues around the country. The eatery showcases the versatility of the avocado, from appetizers to dessert. During our visit, we tried items from the winter menu, including pumpkin spice guacamole and avocado apple cobbler, as well as staples like the signature AvoBurger. A native of Costa Rica and former Mission Foods marketing exec, Luque took the helm of Irving-based AFM in 2014, about six months after it was formed. It’s a unique partnership between the Mexican Hass Avocado Importers Association, which represents hundreds of importers and distributors in the U.S., and a Mexican trade group representing more than 29,000 avocado growers and about 65 packers, and is overseen by the USDA. AFM’s budget is based on annual import numbers. At 2.1 billion pounds for FY2020, that’s close to $60 million a year—and it must all be spent on promotional endeavors. Luque calls it a marketer’s dream. He has built AFM’s promotional strategy around three

strengths: the avocado’s health and wellness benefits, versatility, and year-round availability. Most avocados from Mexico are grown in the state of Michoacán, where, because of its volcanic soil, altitudes, and weather conditions, avocados have four blooms per year. In other places, such as, say, California, they only have one bloom. In his first meeting as CEO with the AFM board, Luque proposed an idea that reflected his big-thinking style: a Super Bowl commercial. “I didn’t know how they would react to the idea of spending $4 million on a 30-second ad,” he says. “But we had a very good case for doing it, and I believe it changed the future of this company.” Since then, Luque has built what he calls “the Coca-Cola of produce,” recruiting a team of star marketers from Procter & Gamble, Disney, and, yes, Coca-Cola. During his seven-year tenure, AFM’s market share has gone from about 60 percent to 85 percent, and brand preference has grown from 20 percent to 55 percent. The Super Bowl ads set the stage, but growth has come from a sophisticated strategy that involves digital activites, a culinary institute, and other experiential initiatives, such as AvoEatery. AFM also is jumping into e-commerce; Luque predicts that in the next five years or so, 20 percent of avocados from Mexico will be sold online. He’s most excited, though, about opportunities in mass personalization. AFM already has a robust consumer data platform with info on more than 80 million consumers. “We are investing a lot into how to enrich those IDs as much as possible because we know that in two years, we’re going to lose cookies,” he says, referring to tools that are used to monitor online browsing activity. “Companies that move first and create their own first-party data—they’re going to win.”

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DOSSIER

E-COMMERCE

Former attorney Sarah Shadonix is making a case for clean-crafted wines with Scout & Cellar.

P H OTO G R A P H Y BY M A T T H E W S H E L L E Y

story by MARIA HIEBER

nine years into her legal career, former dallas attorney sarah shadonix abandoned business litigation and contract law practice to pursue winemaking. “I had this deep-seated passion to go pursue this desire to work in wine,” she says. She spent a year earning professional winemaking certifications, became a member of the Dallas Sommelier Society, and surrounded herself with others in the industry. She soon secured a job in Sonoma, California, sourcing producers for Wine Country Connect, an e-commerce venture that connects wine producers with con“The authenticity sumers nationwide through a collection of B2C websites. that begins in the While in Sonoma, Shadonix noticed that even small amounts vineyard is preserved of wine often left her feeling ill. “I thought I was living the dream, exin your glass.” cept I wasn’t,” she says. She spoke with winemakers, growers, and physicians and discovered that many wines can include hundreds of pesticides and chemicals that are allowed under federal and state regulations. “Pesticide residue can remain in the grapes after harvest, and therefore, can be present in the wine,” she says. Shadonix realized there was a market gap for chemical, additive, and sweetener-free wines and founded Scout & Cellar, a winery that produces clean-crafted wines, in Dallas in 2017. The brand grows many of its grapes in California and Oregon, then sorts yields by hand, removing clusters that may taint the wine during fermentation. “This removal process is important to clean-crafted wines since our standards don’t permit the usage of any additives to correct an unhealthy fermentation,” Shadonix says. The selectivity means smaller yields and slower harvests, but Shadonix says the sacrifice is worth it. “The authenticity that begins in the vineyard is preserved in your glass,” she says. Less than 1.5 percent of the $75 billion U.S. wine industry was sold online when Scout & Cellar launched. Shadonix’s model quickly gained traction. “We ran out of wine a lot,” she says. The company also outgrew its facility five times during its first 18 months. Since then, it has grown 70 percent year over year and over 100 percent since 2019. WINE TIME Sarah Shadonix’s The brand produces hundreds of varietals, Scout & Cellar some bottled in Texas, and has responded well has seen rapid growth since its to the increased demand for both e-commerce launch in 2012. The company’s and alcohol in 2020. “It’s been a busy year overrevenue doubled all for us,” Shadonix says. in the past year.

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Legacy Knight’s Matt Ogle and Abe Minkara are harnessing the power of family offices with their entrepreneurial endowment model. story by

WILL MADDOX

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Legacy Knight, cofounded by Matt Ogle, left, and Abe Minkara, puts clients in the driver’s seat when it comes to making decisions on deals.

photography by

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WHEN MATT OGLE PREPARES TO MEET WITH A

prospective client, he does a practice meeting before the encounter, rehearsing questions that might be asked, how he will answer, and how he wants to guide the discussion. He needs to overprepare; he may not get another shot, and the stakes are incredibly high. Ogle, CEO and founding partner of Legacy Knight, asks families to trust him with a sizable chunk of their fortunes. Clients of his fast-growing multi-family office have an average net worth of $100 million. “The pitches, early on, are extremely nerve-racking,” “Uber-high-net-worth families want to Ogle says. “With the amount of wealth that’s out transact and grow there, the pressure is there, for sure.” their wealth, rather than just protect it,” No two clients are alike. Some wealthy families says Legacy Knight’s Matt Ogle. are recently self-made and may lack sophistication and nuance in their investments. Others are several generations into significant investing and diversification, with names that adorn university buildings and fine arts venues. But whether the family made its money from the hottest new app or a mining conglomerate, they probably have a few things in common. First, they want to protect their wealth for future generations. That can take a lot of different forms, from property and businesses to stocks and bonds. At a certain level of wealth, families need to hire someone to manage their investments, often forming a family office to ensure their wealth is protected. A family office can be costly, but if they want to make significant investments, they need

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more than a Charles Schwab account. The middle ground between the two can be challenging to find. Another common trait is a preference for control. They didn’t get to where they are today by neglecting details and passing the buck. That desire for control translates to how their money is invested. It can be difficult for a principal member of a wealthy family to over-

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WHAT SETS THEM APART

CO N SO LIDAT ED REP O RT IN G.

MU LT IP LE A LT ERN AT IVES.

WIDER GU IDA N CE.

DIR ECT INVESTMENT.

There are four major points that differentiate Legacy Knight from other wealth management opportunities, Ogle says:

Unlike investment banks, Legacy Knight can aggregate all previous investments and provide a clearer picture of where things stand and where opportunities lie.

Legacy Knight can offer private equity and real estate investment opportunities at lower prices than investment banks, where fees can add up.

Investment banks can’t offer advice on past investments that aren’t through products they offer. Legacy Knight is not bound by those limitations.

Many clients want to put their money directly into businesses they believe in. Legacy Knight’s approach and mindset allows its clients to do so.

see every decision in their business and then sign over their investments to an anonymous investment bank. Families want a say on where their money ends up. The third commonality is that these families are busy. They often don’t have a ton of spare time to research new investments, listen to drawn-out pitches, or waste time on an opportunity that isn’t right for them. Legacy Knight has found a way to thread the investment needle for wealthy families between an autonomous yet cumbersome family office and the anonymity and lack of control of an investment bank, with a model Ogle calls “entrepreneurial endowment.” “Uber-high-net-worth families want to transact and grow their wealth rather than just protect it,” he says. “Our model adds a lot of output to the portfolio and puts them in the driver’s seat on making the decisions on deals. Our families get the opportunity to opt-in or opt-out. “It’s about understanding the data in order to articulate it in a way that everybody can understand it,” Ogle says. “Framing up opportunities is extremely important because you have limited time. They’re all really good at what they do. But framing up the massive world of capital in shorter conversations is a hard skill set to acquire.”

GLE GREW UP IN OKLAHOMA,

a tennis standout who played at The University of Oklahoma and spent a year on the pro circuit before moving into finance. He spent a decade in the world of private and investment banks, developing relationships with wealthy people to offer opportunities provided by the bank. After earning his MBA at SMU, he got to know Dallas’ Crow family through his job at Credit Suisse. A few years later, the Crows were looking to spin their family office into a multi-family office, where wealthy families could pool their capital to get access to deals that required larger investments without footing the entire bill. Ogle joined the venture in 2012 and worked to recruit families with a net worth of $100 million to $1 billion to join the Crows. During his five-year tenure, Ogle managed the wealth of 16 families with an average net worth of a couple hundred million dollars. He learned the ins and outs of the business, from pitching investment opportunities to ancillary responsibilities, such as buying private planes and servicing and staffing yachts. “Anything that was needed for the family, we would do that,” he says. In 2017, one of the families came into some additional capital and wanted to break off and form their own family office, and they asked Ogle to lead it. He agreed, but with the caveat that he could one day roll it into an additional multi-family office and recruit other investors to join. In 2019, he launched that venture; it was time to take his show on the road. One of his first pitches was to Mark Cuban’s family office. Cuban wanted in, but Ogle picked up more than just funds—he added a business partner, too. Ogle had gotten to know Abe Minkara, a managing director at One of Legacy Mark Cuban Cos. who handled Cuban’s Shark Tank investKnight’s direct ments. Minkara was intrigued by Ogle’s concept and the investment companies is Oura, which makes entrepreneurial opportunity it could provide. “I thought rings that track sleep and other biometric it was an opportunity that I shouldn’t miss out on,” says data. Its clients include the NBA. Minkara. “I got Mark’s blessing, and we just gave it a shot.”

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POOLING RESOURCES

The families that invest with Legacy Knight range from the wealthy to the super-rich.

One of the first things on the to-do list was giving the firm a name. When Ogle began dreaming up his for a multi-family office, he started with the name Legacy. It was an obvious choice, as he is protecting the legacy of wealthy families. Minkara pointed out that “legacy” was a common name in the world of wealth management and suggested adding something to reflect its unique investment strategy. On a chessboard, the knight is one of the most strategic pieces because it is the only one that can jump over other pieces, and its job is to protect the king on the board. “I was a little apprehensive at first, but the more we talked about the business model and how it is the differentiator, it really started to mix well,” Ogle says. Legacy Knight increased its visibility in January 2020, with the co-founders fine-tuning their marketing strategy—how they wanted to present their firm, what they stand for, what they represent—and building the company from the ground up. Minkara’s role with Cuban was to lead the team vetting the Shark Tank and technology companies, to make sure their sales, debt, revenue, and other metrics matched their pitches. Once part of the portfolio, he supported the companies with operations and sales, helping them scale their businesses, and providing them with financing and exit opportunities. This skillset serves him well at Legacy Knight, where, among other things, he vets companies to pitch the Charitable and nonprofit families for their direct investment opportunities. organizations benefit

THINKING BEYOND THE BOTTOM LINE from Legacy Knight investments, too.

Ogle leads a faith-based life that emphasizes giving back, and he has imprinted that mindset on Legacy Knight. The firm is about to hire a European dignitary to lead an arm of the business that invests in things that improve society. There may be lower returns on these investments; still, many of the firm’s clients have a strong urge to give back through entities like the Communities Foundation of Texas or their personal family foundations, though they give with a shrewd eye to make sure their money is invested wisely. “They treat giving away their capital to the right charities like they are operating a private equity business,” Ogle says about one family focused on philanthropy. “They travel all around the world to find charities. The main principle is giving away the majority of their wealth.”

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EGACY KNIGHT’S ENTREPRENEURIAL

endowment model is a balance between traditional investments and direct investments. They don’t provide capital to entrepreneurs to get their companies off the ground but focus on series B investments or later. Ogle says having more options beyond the traditional equity-bond mix that most wealth management firms provide is very important to families as it provides multiple opportunities that are uncorrelated to economic cycles. “This is where alternatives outperformed in a significant way over the last three recessions,” he says. Jack Selby, who helped found the tech giant PayPal, is an adviser to Legacy Knight. Now a managing director at Thiel Capital in California, he agreed to serve on the firm’s advisory board because of its unique model and approach. “Just bringing money to the table is not going to give you a seat,” Selby says. “What are you going to do to add value? It is a diverse group that [Legacy Knight] is working with who have operational expertise. They bring that to bear, which gives them access to the deal.” Selby is a member of the so-called “PayPal Mafia,” a group of former employees and execs who went on to found

$100M

AVERAGE FAMILY NET WORTH

$25M

MINIMUM NET WORTH

$100K

MINIMUM DIRECT INVESTMENT

$250K

MINIMUM FUND INVESTMENT

$10M

MULTI-FAMILY MINIMUM FUND INVESTMENT

or support other technology ventures, including YouTube, Yelp, Tesla, and LinkedIn. He met Ogle through the family office network and sees Legacy Knight as a unique option in a wealth management world. “Looking at one offering versus another, all options are virtually the same,” Selby says. “Matt is going above and beyond and finding unique deal flow for his clients.”

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Legacy Knight’s model gives families the control they are looking for when protecting their wealth. They aren’t forced into a specific product or offering. “Participating in each deal is entrepreneurial because each deal we do has a unique structure to it,” Minkara explains. “As an investor, you can opt-in or out. That’s the best part.”

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Family offices have emerged as influential players in the venture capital ecosystem, supporting startups and helping more established companies expand through direct investments. For compliance and privacy reasons, Legacy Knight doesn’t broadcast its families’ direct investments. Still, Ogle did share a couple major moves that provide a glimpse into the firm’s investment strategy. One company most will be familiar with is Topgolf Entertainment Group, which is expanding in Southeast Asia with the help of Legacy Knight families. Topgolf has more than 60 venues in five countries and is adding locations in Singapore, Thailand, Malaysia, Vietnam, the Philippines, and Indonesia. Legacy Knight also is co-lead on an $80 million Series C investment in Oura Health, which makes rings that track sleep and biometric data. The rings were used by NBA players in their bubble to help track COVID-19 symptoms and contact trace to contain the spread of the disease. Because the Legacy Knight managers are not beholden to any of the deals they present to clients, they can take a sober look at opportunities and give honest opinions. Advisory board member Dewey Corley, an experienced investor with a background in oil and gas, says he was attracted to the way Ogle and Minkara were “not in sales mode,” he says. “They are not selling a product, and there is no attachment to any of the things they recommend. The managers are the product.” The Legacy Knight families are entrusting their futures to their wealth managers, and the connecAbe Minkara’s experience tion between the two parties is more profound vetting Shark Tank than a transactional business relationship. Both investments for Mark Cuban has set him sides have to maintain a deep level of trust in one up well for assessing opportunities at another for things to work well. With so much on Legacy Knight. the line, both sides are sizing each other up, researching potential partners, and doing their best to determine the right fit. Is there a connection? Do you feel comfortable sharing intimate financial details? Considering the recent volatility of the stock market, these questions have become even more essential, and neither side can afford to shy away from the tough questions. “When you are engaging with families, it’s OK if they question you, and it’s OK if they disagree with you,” Ogle says. “We are an extension of their family, even though we are ‘employed’ by them. They still need to treat you with respect and treat your staff with respect, too. Most families at that level are very engaged. They just want to learn.”

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KidKraft is known for its quality wood products like this farmhouse-style cottage, which has creative details like a pivoting built-in bench.

Former Mattel executive G E O F F W A L KE R is adding a spark of innovation at KidKraft, unleashing imagination and driving record-breaking sales. story by CHRISTINE

PEREZ

portraits by J O N AT H A N

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Matt Rubel had a challenge on his hands. MidOcean Partners, the middle-market private equity firm he chairs, needed a new CEO to run one of its businesses, KidKraft. MidOcean had acquired the Farmers Branch-based maker of children’s furniture, playsets, and toys in 2015. But three years later, growth at KidKraft had stalled. Rubel, a seasoned retail exec whose background includes leading Cole Haan and Tommy Hilfiger, had moved to Dallas a few years prior to run Varsity Brands. Because of his expertise and because he was already in North Texas, New York management at MidOcean asked Rubel if he would lead the effort to find new leadership for KidKraft. For decades, the company had been run by Steven and Charmaine Lampert, owners of a custom furniture shop called Mica Designs, who acquired KidKraft in 1995. Steven ran operations; Charmaine was the innovator and creative force behind product development. In 2000, former Tandy and Bollinger exec David Barr joined the Lamperts at the reorganized KidKraft. The company, which was first launched in the 1960s, had been generating sales through catalogs and other means. But bigger buyers, such as Costco predecessor Price Club, were interested in its madefrom-wood, heirloom-quality children’s furniture. Barr, who had experience in product development, supply-chain, and overseas procurement and manufacturing, was brought in to help take things to the next level. KidKraft’s production shifted to Asia in 2001. Within eight years, KidKraft opened offices in China and Amsterdam. It expanded beyond its furniture roots and applied its panel-assembly processes to dollhouses, play kitchens, and more. It also added outdoor furniture, playhouses, and swing sets, a segue that was boosted in 2016 when it ac-

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quired Solowave, a Canadian company behind the Big Backyard and Cedar Summit brands. Despite being on, as Barr says, “a 20-percent growth kegger for 20 years,” MidOcean saw plenty of untapped potential at KidKraft. The operation is still relatively small, with about 300 total employees in Farmers Branch, Amsterdam, and China. “MidOcean is an expert at enabling transitions from founder to larger-scale,” Rubel says. “The key was finding someone with the ability to do that who also had the creativA “toy guy” from ity to do it in the imaginative play space. We an early age, searched all over the world for someone we Walker is one of the most admired believed could unlock the spirit of the way the executives in the industry and serves company was set up by the founders and take as vice chair of The it to the next stage of growth.” Toy Association.

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The search ultimately led to Geoff Walker, a 23-year Mattel veteran who had a string of impressive successes in both product development and operations. Walker had turned around a number of Mattel businesses, including Hot Wheels and Fisher-Price; he ran its U.K. and Eastern European operations and expanded into Russia. He was well regarded in the industry and an active leader in The Toy Association, a trade group representing businesses that drive the $27 billion U.S. toy market. (Walker currently serves as the organization’s vice chair.) Everything fit. When Rubel reached out, Walker was serving as Mattel’s head of innovation—another strength. “Geoff stood out for his outstanding leadership but also his love of the consumer and for unlocking creativity and fun and engagement,” Rubel says. Barr, who remains at KidKraft as executive vice president of product development, global procurement, and supply chain, knew it would be hard to replace the Lamperts. But “it was immediately clear that Geoff brought the right mix,” he says. “I had been through a lot of interviews and temporary people in the position who did not. Geoff’s a toy guy. He’s been a toy guy his whole life.”

WALKER

was born in New Jersey, but his father’s job took him and his family to Palos Verdes, California, outside of Los Angeles, when he was 10 years old. He became buddies with a neighbor, Tom, whose father, Gene Kilroy, worked in advanced product development for Mattel. “He would bring home what I now know were early production pilots and let Tom and me play with them, like these little hand-held football video games,” Walker says. The experience left a lasting impression. “It made me want to work with a product I could touch and feel and enjoy,” Walker says. “Gene Kilroy was one of the big driving forces in my career.” After getting an accounting degree at the University of Southern California, he worked at KPMG as an auditor for four years, then enrolled at Vanderbilt University in Nashville to pur-

sue an MBA in marketing. Its Owen Business School was up and coming at the time; Walker liked the school’s energy. After graduating in 1994, he applied at Sega, Nintendo, Mattel, and Hasbro, but the job market was in a funk, and no one was hiring. Through a friend, he found work doing marketing for Dep, a hair products company in L.A. After about a year, he again pursued Mattel and was hired as a junior assistant brand manager, an entry-level marketing role for MBAs. His first assignment: shutting down a project. Mattel had inked a deal with the Sylvester Stallone movie, Judge Dread. Two weeks before the movie opened, the company learned the flick had been given an R-rating—not at all in line with the toymaker’s action figures target of 3- to 8-year-old boys. Walker says the experience taught him a lot about working with entertainment properties and “being beholden to the screen.” He closed Judge Dread and segued into other burgeoning properties, including Mighty Ducks, a Disney animated series, and, eventually, Batman, after winning a license from Warner Bros. “That was a great victory to go out and do a big tentpole movie event that we could drive behind, a long-term property that had been in the marketplace for years,” Walker says. His success quickly caught the attention of higher-ups, says Tom Kilpin, Walker’s former boss at Mattel, who now leads PlayMonster in Beloit, Wisconsin. “We saw Geoff as a future leader and started moving him around to get more and different experience,” Kilpin says. “We sensed how much he loved the business and how attuned he was to the industry. My boss and my peers and I would look at Geoff and say, ‘Oh yeah; he’s ready to be stretched. Let’s give him more of an opportunity. He has earned it.’”

BUILDING BRANDS AT MATTEL 1995 Walker managed action figure brands such as A Bug’s Life and Mighty Ducks. Grew revenue in the category to a 15-year high.

1998 Led Mattel’s $30 million NASCAR business, growing the category by 10 percent. Oversaw all marketing with a $12 million budget.

1999 Led the $500 million Hot Wheels car, track, and playset group, growing sales by 20 percent and exceeding profit goals by 45 percent.

2000 Managed Mattel’s global action figures business, growing it from $100 million to $250 million in three years.

2003 Oversaw the worldwide entertainment portfolio (Harry Potter, Batman, Superman, etc.), totaling $300 million in revenue.

2006 Ran the $1.3 billion Wheels division (Hot Wheels, Matchbox, and radio control), including licensing, entertainment, and digital. continued on page 034

FAMILY TIME

After Vanderbilt, Walker lived in a townhome in Manhattan Beach, California, with two young women. It was very Three’s Company. “Their names were Alex and Chrissy—I kid you not,” Walker says. He married one of his next-door neighbors, Shauna; the couple has a daughter and son, a senior and freshman at Greenhill School, respectively. The family has moved countless times for Walker’s career, including several stops on both coasts and a two-year stint in the U.K. “I’m very fortunate to have a partner like Shauna who has gone on the journey, and our kids, too,” Walker says. “We love Dallas. It’s an easy city to get around, compared to all of the traffic in L.A.. The people we’ve met in Dallas have been so welcoming, and our kids absolutely love it here. I see Dallas as a long-term place for us.”

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2008 Added Games (Uno, Apples to Apples, etc.) and Radica (youth electronics) to responsibilities—a $1.8 billion retail business.

2011 Managed Mattel operations in the United Kingdom and Eastern Europe and opened a new subsidiary in Russia.

2013 Turned around Mattel’s $3 billion Fisher-Price division and HIT Entertainment, managing 1,400 people in New York and London.

2015 Ran the $3 billion North America Commercial division. Grew operating profit by 17 percent. Launched direct-to-consumer initiative.

2016 Led Mattel’s efforts to leverage technology. Developed venture capital model, taking stakes in startups to accelerate growth.

2018 As executive VP and head of innovation, led product design, marketing, and digital initiatives. Developed speed-to-market platform.

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KILPIN

put Walker in charge of the Wheels division, which includes Hot Wheels and Matchbox. “It was an important piece of business, and it was struggling,” Kilpin says. “It was my sense that Geoff was the person to develop a new strategic direction. As a leader, you’re always looking at your team to see who is riding along with you. Sometimes you know they’re with you, and sometimes you’re not sure if they’re really invested. Through all the time Geoff worked directly for me, I knew he was riding with me. And when he disagreed with me, he told me— whatever it might be—and he always came up with another idea.” Working with Hot Wheels, Walker focused on product branding, marketing, and innovation. It led to double-digit sales growth for a group that had been declining for years. Games (Uno, Pictionary, Scrabble) and Radica (youth electronics) were added to Walker’s responsibilities—putting him in charge of a $1.8 billion operation. In 2011, wanting to give Walker experience in operations, company leaders asked him to run its European business. Its U.K. group had been in decline for several years, and Mattel also wanted to expand into Eastern Europe and Russia. “It gave me a good scope of the different lens you can look through in different marketplaces—how you deal with retailers and changing shifts in consumer patterns,” Walker says. He focused on e-commerce in the

UK., making a big bet on Amazon, which at the time had just 3 percent of the market. He used traditional retail partners to open Russia and grow in Eastern Europe. In 2013 he returned to the U.S., heading up Mattel’s Fisher-Price division in Buffalo, New York, where he became a diehard Bills fan. Walker’s turnaround of the $3 billion brand was framed around targeting millennial versus Gen-X parents. Two years later, he was back at Mattel’s corporate headquarters in L.A., leading its North American commercial division. The sales-focused role took him away from the creative side of things and required him to dig into the numbers and think more short-term versus long-term. After Margo Georgiadis joined Mattel as CEO, she wanted to reinvent the company around technology, and Walker was named chief strategic technology officer. In the role, he operated more like a tech startup CEO than an exec at a global enterprise. “One thing technology companies do very well is test and learn,” Walker says. “They cast a wide net then quickly scale the things that are working and walk away from things that aren’t.” Walker was deep into new play patterns and new consumers for Mattel when Matt Rubel and KidKraft came calling.

THERE

was a lot to love about the opportunity. KidKraft is a great brand with quality products that had made significant e-commerce inroads. It needed someone with commercial experience with strengths in branding and innovation—two big hot buttons for Walker. It also gave him a chance to bet on himself. “It meant going from a big company with a lot of bumpers around and a lot of resources to a smaller company where there’s no one else to blame,” he says. “Charmaine and Steve had built this amazing company, and when they left hands-on leadership, there were some bumps in the road. I was brought in to get it back on the road of innovation.” Walker references Google’s 70-20-10 philosophy, where 70 percent of innovation time is spent on a business’ core (current models and revenue streams), 20 percent on adjacencies (products related to the core business), and 10 percent on blue sky. Walker calls it “magic or tragic.” When you go blue sky, he says, “you can get some things that are amazing—or you can totally miss what the consumer is looking for.” After building his team—including bringing in a new CFO, Todd Whitbeck—and making sure cash flow and working capital were set up KidKraft’s products in a way that allowed the compaare broken down ny to move forward, Walker coninto three categories: furniture, centrated on product innovation, playsets, and toys, like this train set, refocusing the company around which encourages imaginative play. As beautiful as imaginative play.

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P R O D U C T I M AG E S C O U R T E S Y O F K I D K R A F T

BUILDING BRANDS AT MAT TEL

KidKraft’s newest Disney dollhouse has a rotating rooftop carousel.

“The last 10 to 15 years have been about globalization. What we’re seeing now is localization. People are becoming very local.”

little more here. I was used to big budgets; managing cash here is different, too. You have to treat it like it’s your own money and manage everything to a tight budget while still giving it over for innovation and future projects.” Two years into his CEO post, Walker says the biggest challenge has been maintaining culture while so many employees are working from home. He’s the kind of guy who likes to work the room and connect with people on his team. For now, he’s holding Zoom meetings with employees in North Texas and Amsterdam. Due to growth, KidKraft has been hiring. Walker introduces new staff during the Zoom meetings by asking them five rapid-fire questions, including “What’s your favorite toy?”He says if people don’t bond with one another, it makes retention more of a challenge. Walker also has spent time on what he calls helping the company “build new muscle.” Adding play and other kid-targeted features had to be taught, as did risk-taking. For years, people in product develop-

they were, KidKraft products were a bit static. A partnership with Amazon led to a role-play, Alexa-enabled play kitchen, working with Echo and voice recognition to “gamify” the experience. Another new KidKraft product is Disney Princess Dance and Dreams, featuring a rooftop carousel where the dolls can twirl around to music. Both products were smash hits this past holiday season. KidKraft’s outdoor products—playhouses and swing sets—are getting plenty of innovation attention, too. A $1,500 outdoor Nerf battle zone, a collaboration with Hasbro, will be released this summer. “They are amazing setups in forts we’ve created that will allow kids to take their blasters and have the greatest Nerf battles out there,” Walker says. “As kids are spending so much time on screen, people are looking to take their backyards and make them special. I want to creTom Kilbin, me,” Kilbin says. who’s now a the fact that you Walker’s former “He was always CMO at Home push back and ate backyard envy; I want every family that has a boss at Mattel, thinking about Franchise don’t let me get backyard to think, ‘Wow. I have to get that.’” says people where his peoConcepts. “As away with any Another revenue boost for KidKraft has come would often ple were in their a mentor and B.S. Not many lobby him to career paths leader, Geoff is people do that from its furniture line—especially children’s get to work on and challenging phenomenal. at this level.’ desks, with school closures due to COVID-19 Walker’s team. them and bringHe is open, Geoff is great at leading parents to set up at-home learning spac“He’s probably ing them along.” transparent, and building teams Mattel execs quickly es. The company ramped up desk production in identified Walker’s the best motiAmong them smart, but he of people who leadership potential. vator who has was Heather also listens. He’d complement early 2020, with new deliveries consistently sellHe’s pretty good at ever worked for Nykolaychuck, say, ‘I appreciate each other.” cultivating talent, too. ing out. Growth across all three product lines led to record-breaking sales in 2020. And it’s a trend Walker expects to continue, buoyed by ongoing shifts in consumer patterns. “The last 10 to 15 years have been about ment were executing ideas that came from Charmaine. They had to globalization,” he says. “What we’re seeing now is localization. People learn to share their own blue-sky concepts. Some have landed with are becoming very local.” a thud, but others that have taken off, such as an A-frame playhouse with a rock wall and a turtle-themed balance beam—both designed by a former barista who has no formal design training. “The amount of new, interesting, creative play concepts that are coming from the company are just incredible,” Walker says. “We has a name for his growth strategy: “Ages and took the positive growth from this past year and invested for the Stages.” It speaks to taking each of the comfuture. This summer, with the outdoor business, and next Christpany’s categories and bringing users in younger and keeping them mas will be bigger than ever for us. And we have amazing things longer as they get older. A new, expanded preschool line focuses coming in 2022, too.” not just on play, but on developmental benefits, nurturing climbRubel is happy with the results of his recruitment effort to land ing, walking, and other skills. From preschool, the children move Walker, who has turned KidKraft into a growth company. But by into the core of KidKraft’s products—swing sets, playsets, and the celebrating make-believe, he says, the new CEO and his team are like. Then, as they continue to grow, they move into things such as accomplishing so much more. “They’ve reignited a mission that’s the Nerf battle zone, which targets children age 8 and older. so important to all of us—unlocking the imagination of the youth “The talent here is amazing,” Walker says of his design team. “The of America. This little gem in Dallas is quietly impacting things in challenges are in consumer insights research at a small company, a positive way.” versus what I was used to at Mattel. You have to trust your gut a

P R O D U C T I M AG E S C O U R T E S Y O F K I D K R A F T

TAPPING INTO TALENT

WALKER

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MARCH 2021

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N O R T H T E X A S B U S I N E S S A D V I C E , A N A LY S I S ,

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C O M M E N TA R Y

LESSON LEARNED

Tuning Out the Naysayers Jared Pope, CEO and Founder WO R K S H I E LD

SHUTTERSTOCK

“i’ve always been a fan of controlling what you can control and not worrying about anything else. It’s something that I learned selling books door-to-door for three summers while attending Texas Christian University. That being said, I think one of the biggest lessons that I’ve learned is to trust my gut and intuition. Too many times, we listen to naysayers as young adults and professionals or think that another person’s perspective is golden while simultaneously squashing our own. Looking back over the past 20 years, I’ve had some creative ideas and perspectives but listened to naysayers who said, ‘That won’t work,’ or ‘That’s a crazy idea,’ only to see a few years later that same idea or solution implemented by someone else. To me, the biggest inhibitors to innovation are not the ideas themselves but the willingness to act on those ideas and take them forward. Believing in your own capabilities and vision and listening to your inside voice is something that allows us, as a society, to move forward. Imagine what we can accomplish if we come to understand this earlier in our lives.” —As told to Will Maddox

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H E A LT H C A R E

Health System Symbiosis Unprecedented collaboration among North Texas hospitals during the pandemic is paying dividends now and setting us up for the future.

story by WILL MADDOX

throughout north texas, hospital systems are expanding and laying claim to outlying communities, building hospitals literally across the street from each other. They are continually making attempts to outdo one another with innovative technology, the most talented practitioners, best customer service, and the latest amenities. Although competition is usually a benefit to the consumer, it can cause division as well. It was into that competitive environment that Ebola made its way to Dallas in 2014. In planning a community-wide response, local health system CEOs began a weekly call to discuss the disease’s spread and its impact on the region. The conversations were facilitated by the Dallas-Fort Worth Hospital Council (DFWHC), an organization that has been around for more than 45 years. Competing systems put aside old

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C O U R T E S Y O F M E T H O D I S T H E A LT H S Y S T E M A N D S H U T T E R S T O C K

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rivalries and came together to create a strategy to deal with a potential Ebola outbreak. Thankfully, the spread was contained, and the disease only impacted a handful of North Texans, but the moment uncovered a collaborative spirit beneath the veneer of competition. The healthcare industry, in general, attracts people who want to give back to society, but the COVID-19 pandemic has bred an unprecedented level of camaraderie and collaboration in the region. Since the beginning of the pandemic, there have been cross-system calls between multiple entities. CEOs, Chief Medical Officers, Chief Nursing Officers, and human resources leaders have virtually met to discuss best practices and breakthroughs and share resources about how best to address the pandemic. “To me, those were not competitors on the other end of the phone,” says Dr. Martin Koonsman, chief medical officer at Methodist Health System. “They were medical colleagues who were all tackling the same virus and doing their very best to keep patients and staff safe.” Weekly calls during the pandemic between health system leaders paid great dividends in treating the virus and preventing its spread. Hospitals had never faced this level of stress on their supply lines for personal protective equipment and could share and learn about how other systems were tackling the issue. In the early days, there was a lack of clarity about masking in general, highlighting the importance of a sounding board. “There was a lot of ambiguity about how effective they were, whether or not people should be wearing them, who should be wearing them, and what type of mask,” says Dr. Brett Stauffer, associate chief quality officer at Baylor Scott & White Health. “People brought as much evidence as we could gather from all around the country, and we tried to collectively move together so that we were sending consistent signals.”

Masica, chief medical officer of Texas Health Resources. “We have something unique in the DFW area with a very strong regional collaborative.” During the pandemic’s peak, many North Texans were afraid to call 911 and get treatment at the hospital. Local emergency operators reported a significant drop in 911 calls and an uptick in patients who died in their homes before ambulances arrived, meaning residents avoided care with deadly results. Hospital leaders compared notes on emergency statistics and worked to get the word out that hospitals were safe and had made adjustments to protect patients from the virus. “Having health system leaders speak with a common voice about how we’re deploying tests and how to use them properly has been key,” says Dr. Miguel Benet, chief medical officer of Medical City Healthcare. “If we were not messaging similarly, it would create a lot of confusion, especially with the rapid evolution of information.” The hospital systems plan to build upon the relationships forged during the crisis to address future problems collaboratively. Questions about the logistics of the COVID-19 vaccine and coordination between hospitals and long-term care facilities are two areas that will benefit from increased cooperation between the systems throughout the pandemic. “We’re doing a lot more than we’ve ever done before,” says Steve Love, president and CEO of DFWHC. “All the hospitals are realizing it’s not about competition. It’s about trying to improve the health of the community.”

UNIFIED FOR GOOD

Collaboration: Past and Present North Texas healthcare entities have come together several times in the past 50 years to bring about needed change. Two independent blood supply nonprofits formed in Dallas and Fort Worth in the 1950s, but the two organizations felt they could better serve the region together. Local hospital systems played a role in facilitating a merger between the Dallas and Fort Worth blood supply organizations to form Carter BloodCare in 1998. The organization now serves North Texas and beyond. Area hospitals also worked to get tort reform legislation passed in the 1990s, limiting the liability of healthcare practitioners. The systems continue to speak with a united voice through the Dallas-Fort Worth Hospital Council about expanding Medicaid, addressing Texas’ growing uninsured population, and other critical issues.

ALL FOR ONE

The pandemic demanded that hospital systems work together, and the region’s ability to battle COVID-19 benefitted.

UNIQUE NORTH TEXAS ADVANTAGE

When the government began distributing shipments of Remdesivir to the hospitals, leaders discussed how they were balancing the drug with other treatments, such as steroids and intubation. Sharing strengths and weaknesses in dealing with the disease is not part of the everyday DFWHC discourse, but the pandemic brought about a willingness to share, learn, and build relationships. “It was very collegial, and I always left those calls feeling like I learned something new,” says Dr. Andrew

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ON TOPIC

What was your first job, and what did you learn from it? edited by WILL MADDOX

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illustrations by JAKE MEYERS

TRUDY SULLIVAN STOUDAMIRE

ROGERS HEALY

TETSUO “TED” OGAWA

Chief Communications and Diversity, Equity & Inclusion Officer H E A LT H C ATA LY S T

Owner and CEO R O G E R S H E A LY A N D A S S O C I AT E S R E A L E S TAT E

President and CEO T OYO TA M O T O R NORTH AMERICA

“I started working at Quinn’s Restaurant & Lounge, our family’s business in Boise, Idaho, when I was in the fourth grade. I washed dishes, peeled potatoes, swept the parking lot, and did whatever else was needed. I learned the importance of a strong work ethic, initiative, grit, and the value of customer intimacy. About 60 percent of restaurants fail in the first year. Because of my father’s deep commitment to customers, Quinn’s celebrated its 50th anniversary last year.”

“I’ve worked pretty much my whole life; I always enjoyed it. The first time I had a formal job was at Blockbuster Video, when I was in high school, and at the same time, I was a sandwich artist at Roly Poly. Through those jobs, I learned how to read people and how to talk to people. I then worked as a waiter, and did that all through college. The psychology of sale is something I had to perfect early on, and it positioned me well for the world of real estate.”

“I joined Toyota Motor Corp. in 1984 as a buyer. The best jobs in purchasing were those responsible for main vehicle parts; my job was buyer of all miscellaneous goods, such as office supplies, stationery, and even tea leaves for serving guests. At first, I was disappointed in my job, but I built relationships with my suppliers, and after one year, I was able to significantly reduce our costs. I learned to always look for ways to improve a process, no matter what your job may be.”

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THOUGHT LEADER

A New Model For Economic Equity

and status as a minority business to win bids. Not only did we not receive notification of the awarded opportunity, we were never contacted to participate in the opportunity. This practice significantly hurts minority businesses, and it happens over and over again.

P H OTO G R A P H Y C O U R T E S Y O F T R E C O I N V E S T M E N T S

COVID-19, along with the complexities of recent racial unrest, has exposed socio-economic deficiencies, says TreCo Investments’ Tré Black.

HIRE MORE BLACK conomic equity and genuine inclusion are the BUSINESSES. Checking most pressing challenges when it comes to creating a box for the sake of change. Systematic inequality and penurious economreporting does not allow the programs like M/WBE ic opportunity have stifled Black progress for years. (Minority/Women Business COVID-19, along with the complexities of recent racial Enterprises) and HUB (Historically Underutilized unrest, has exposed many socio-economic deficiencies. Businesses) to fulfill their As a member of the leadership team of On-Target Supgoals of achieving equity. plies & Logistics, I have experienced firsthand the chalOur company, On-Target Supplies & Logistics, has lenges of being a Black business leader. For generations, experienced large firms my family has built a business here in North Texas, and for generations, we using our reputation have faced the same challenges of true equity and inclusion. The only way to achieve real, resilient, and sustainable change is to deal with the deep-rooted disparities that exist. Although broad public support of racial equality in recent months from companies is appreciated and applauded, real change must come from boardrooms and C-Suites that go beyond public statements and social media posts. Here are some ways you can help:

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OFFER MINORITY FIRMS MORE REMUNERATIVE OPPORTUNITIES. The profitability behind business transactions must become more equitable. Only then can small businesses have a real shot at success with longevity by investing in their talent, technology, and overall growth.

SUPPORT WORKFORCE READINESS TRAINING PROGRAMS. Preparing youth and adults entering into the new economy is imperative if we are to win the argument for future economic independence. These initiatives cannot be successful without leadership in C-Suites and boardrooms who are willing to speak up and challenge the status quo.

DON’T SIT ON THE SIDELINES. Dallas is a mecca of opportunity. It has a foundation of economic strength, is a sought-after business market, and our population is 25 percent Black. These dynamics make us ideal for establishing a new model of economic equity. We can take the lead and show the nation that real strides can be made. Tré Black is president of TreCo Investments, an affiliate of OnTarget Supplies & Logistics.

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o f

DFW BUSINESS LEADERS

ART OF STYLE

MENSWEAR DESIGNER AND CEO DANIEL MOFOR IS A FASHION TRENDSETTER

GOBAL APPEAL:

P H OTO G R A P H Y BY E L I Z A B E T H L A V I N

A native of Cameroon in Central Africa, Daniel Mofor launched his Dallas company in 2014.

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SHINING A LIGHT

Hunstable helped create Almost Thirteen, a short film that aims to raise awareness about preteen and teen suicide. It was released in late 2020.

continued from page 045

WHAT I DO: “I am the founder and lead designer at Don Morphy, an award-winning, custom menswear brand based in Dallas.”

ON THE JOB: “At Don Morphy, we love colors and bold prints and patterns. So as a designer for Don Morphy, and knowing that I am my brand when I walk out in the streets, I continue to wear bold, eye-catching colors, vibrant patterns, and those statement pieces that are often really great conversation starters via my street style.” INSPIRATION: “My travels and my African roots inspire my style. We have a lot of bold patterns and colors in Africa, and I’ve tried to marry those influences into the products we offer with the Don Morphy label.” STYLE DEFINED: “My style is best described as being clean, bold, and colorful. Some men are afraid of prints and colors, but not me; it’s the true foundation of how I get dressed every day.” FASHION ESSENTIALS: “I never leave home without my Sun Shades.” GO-TO LOOK: “When in thought, I wear blue pants, a white shirt, and any color jacket to pop the look.” ACCESSORIES: “If I am wearing a tie, it will match the color of my pants. I also wear contrasting pocket squares with my pants because it looks better than having the same color.” WEEKEND LOOK: “I absolutely love wearing white V-neck T-shirts on the weekends and in my downtime.”

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FULL OF LIFE

Hayden was a normal kid who loved to laugh and play football, Hunstable says.

G R E AT E R G O O D

Finding Light in the Dark Linear Labs CEO Brad Hunstable aims to help others after the tragic suicide of his young son.

“this year has taught me the value of community and having places of congregation for our mental health—most important, that conversations matter. In April 2020, my sweet son, Hayden, tragically took his own life just days before his 13th birthday. I’ve since learned a lot about resilience and the importance of business and political leaders doing the right thing and stepping up to support sensible approaches to online gaming, social isolation caused by COVID-19, and other mental health issues that are hurting our kids. I can’t stress enough the importance of learning how to have authentic conversations at home and work to support our loved ones. We created HaydensCorner.org to address two critical issues. The first is to begin the journey to fund and provide K-12 schools, students, parents, and school systems with learning content focused on the social and emotional development of our youth. The second is to create a public service announcement campaign aimed at educating both kids and parents on responsible gaming and oversight from parents and gaming corporations.” —As told to Will Maddox

PERFECT STORM

Hunstable says a disrupted routine and social isolation contributed to his son’s tragic death. voluptatur,

P H OTO G R A P H Y C O U R T E S Y O F B R A D H U N S T A B L E

STYLE ICON: “My style icon is Tom Ford. He is innovative, a visionary—all the while being classic and unapologetically bold with his designs.”

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EN POINTE

Jessica Nemmers says her career as a ballet dancer taught her physical and mental discipline.

PURSUITS

The Cabernet Counsel Attorney Taylor Rex Robertson puts his analytic skills to use as a sommelier and award-winning wine taster. story by ELLIE BEECK SNAPSHOT

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learning,” he says. “I love something that’s analytical and productive, and for better or worse, wine and wine tasting checks all those boxes.” The rigorous exam, offered by the Court of Master Sommeliers, has three parts: service, theory, and a blind taste test—Robertson’s favorite. He finds his thought process when analyzing a wine to be similar to his work as a lawyer. “When you’re in law school, and you’re trying to figure out a fact pattern or whether you can allege breach of contract or negligence, and you know all the elements of a case, you try to look through the fact pattern to find all those elements and make an argument for why you can meet however many elements. Blind tasting is extremely similar. You are taking all of the clues and trying to fit them in these boxes.” Robertson’s work as an attorney sometimes makes it difficult for him to be taken seriously in the sommelier world. The Court of Master Sommeliers, for example, won’t allow him to take the next level of exams through their organization. So, he’s doing so through another certifying body, the Wine & Spirit Education Trust. Already a national champion, Robertson plans to one day become a Master of Wine, one THE NOSE of the highest honors in the KNOWS industry, with fewer than 400 Wine expert Taylor Rex Robertson, masters worldwide. below, and at left with tasting He says his notoriety in the partner Jacob wine world is great for buildFergus. ing relationships in his law career. “It’s always the first thing that comes up with clients or even opposing counsel,” Robertson says. “I’ll introduce myself and they say, ‘Oh, you’re the wine guy.’”

Elevate Credit’s security chief Jessica Nemmers’ star turn as a professional ballerina. Jessica Nemmers took her first ballet class when she was 6 years old. By 12, she was training to be a professional ballerina. She made her professional debut when she was a senior at Ursuline Academy, and before long, went from being cast as “human scenery” to performing in the corps de ballet in Tchaikovsky’s Waltz of the Flowers in The Nutcracker. Now Elevate Credit’s chief security officer, Nemmers says she loved performing and the “smell” of the theater. “As a ballet dancer, you can smell it, and you can taste it,” Nemmers says. She switched to IT and then cybersecurity after Ballet Dallas went bankrupt. “My hardest day in corporate America still cannot compare to a typical day as a professional dancer,” she says. “My ballet training and experience has been valuable at all stages of my IT and security career. It taught me physical and mental discipline, time management, and fortitude.” — Kelsey J. Vanderschoot

P H OTO G R A P H Y C O U R T E S Y O F T A Y L O R R E X R O B E R T S O N A N D J E S S I C A N E M M E R S

dallas attorney taylor rex robertson’s passion for wine tasting has taken him all over the world. A certified sommelier, he won the U.S Wine Tasting Open in 2019 with tasting partner Jacob Fergus. That earned him a spot at the World Wine Tasting Championship in France. At both events, Robertson was the only lawyer in the room. “I’ve had situations where I’ve been not invited to tasting groups because of [not working in the service industry],” he says. “I’ve had to fight a little bit of that resistance.” Now a trial lawyer at Haynes and Boone, Robertson developed a passion for the history, production, and marketing of wine while working as a waiter and bartender at a bistro in Oklahoma City. He was biding his time before starting law school, and began to consider becoming a professional sommelier instead. “My parents are happy that I chose law,” he says. He didn’t give up his passion for wine, though, and in 2018 became a certified sommelier. “I love

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UPHILL TRAVEL A wind-proof cab with heated seats makes for a luxurious ride up Andesite Mountain.

COWBOY CHIC

Horn & Cantle at Lone Mountain Ranch enhances the Old West with elevated, locally sourced fare.

W E L L T R AV E L E D

Big Sky, Montana When adventure calls, StreetLights CEO Doug Chesnut heads to his home away from home.

ROOM WITH A VIEW

THE GREAT ROOM

Winter or summer, views from the dining room at Spanish Peaks impress.

Munge Leung redesigned the entrance of Spanish Peaks Mountain Club.

FARM TO TABLE

The recently opened Westward Social at Big Sky Resort turns comfort food up a notch.

PLUSH SUITES

Luxurious rooms are available for Spanish Peaks Mountain Club members and their guests.

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P H OTO G R A P H Y C O U R T E S Y O F B I G S K Y R E S O R T A N D S P A N I S H P E A K S M O U N T A I N C L U B

story by BIANCA R. MONTES

OFF DUTY

GREAT ESCAPE

P H OTO G R A P H Y C O U R T E S Y O F B I G S K Y R E S O R T A N D S P A N I S H P E A K S M O U N T A I N C L U B

Spanish Peaks Mountain Club, a private ski and golf resort, sits on 3,530 pristine acres in Montana.

have you ever traveled to a destination and instantly fallen in love? That’s what happened when I landed in Bozeman, Montana, and made the scenic, hour-long drive through the breathtaking Gallatin Canyon to the Spanish Peaks Mountain Club nestled in the Madison Mountain Range of southwest Montana. Designed for yearround luxury adventurers and outdoor enthusiasts, the quaint community evokes a European ski village with timbered mountainsides and river rapids that dance between snow, catch the sun, and sparkle like diamonds. Midway between Bozeman and West Yellowstone, Big Sky, Montana, boasts 5,850 skiable acres draped from the summit of the 11,166-foot Lone Peak at Big Sky Resort. Depending on your visit’s timing, other recreational options include fly-fishing, hiking, wildlife spotting, and biking. Spanish Peaks also offers an 18-hole Tom Weiskopf-designed golf course. The slopes in Big Sky are about as close to the Alps as you get in the U.S. for vast terrain and off-piste skiing. Big Sky Resort is in the midst of a $150 million renovation to its lifts and infrastructure. In addition to its high elevation and

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high-adrenaline slopes, it offers the world’s most technologically advanced chairlifts. (The seats are heated, and each of the eight-seat cabs has a price tag that rivals a Porsche.) If you’re looking for a true “scare yourself silly” moment, try the Dictator and Big Couloir chutes from Lone Peak. Or, if you’re not a fan of schussing down the slopes, check out the Nordic and snowshoeing trails. During a recent trip, I stopped at Moonlight Basin Club, snapped on a pair of snowshoes for the first time, and took a guided, two-mile trek around Ulery’s Lake. It was hands-down one of the most exhilarating things I’ve ever done. The renovations at the resort reflect the significant economic boom happening in Big Sky. Last year, The Wilson Hotel, a Residence Inn by Marriott, became the first major brand to open in Big Sky’s town center. A $400 million ultra-luxury Montage Big Sky will open its doors for the 2021-22 ski season within Spanish Peaks, a 3,500-acre private golf and ski community. Also, an award-winning five-star hotel brand (sorry, I swore to not reveal which one) is planned at Moonlight Basin. No trip is complete without top-notch dining, and Big Sky delivers. If you’re looking for an elevated experience, Horn & Cantle is a must. Led by former Dallas Chef Diego Fernandes (of Flora Street Café and The French Room), the atmosphere can best be described as sophisticated cowboy with a Western Steampunk tinge. Diego is working to bring his own spin to the menu with more outdoor cooking—think underground smoked meats—current favorites include the Emmental Swiss fondue appetizer and the buttery Tomahawk or Heluka Pork Schnitzel. Westward Social inside Big Sky Resort’s Vista Hall delivers a more down-home feel, with winning appetizers like the super-rich cheese beignets with truffle oil or crispy hash browns with seasoned sour cream and salmon roe. For entrées, I highly recommend the grilled king salmon curry or the smoked pork shank with braised collards, crispy polenta, a sunny side egg, and warm honey.

T R AV E L T I P S

Work, Ski, Repeat Although it’s known for some of the best skiing in the nation, Doug Chesnut says the recreational opportunities in Big Sky Country go far beyond the slopes and include everything from hiking and mountain bike riding to fly-fishing and paddleboarding. But what the StreetLights Residential CEO loves most about Montana, he says, are the people. “No one asks you what you do for a living; they talk about what you did today,” Chesnut says about the state’s “no airs” attitude. “In some ways, it feels like you stepped back in time 40 years ago. It’s the kind of place where you work for half a day, go ski for a bit, and go back to work in the afternoon.”

DOWNHILL DREAM

Chasing powder on a bluebird day is a common occurrence in Big Sky during winter.

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OFF DUTY

FAMILY TIME

Vaz (at right in the image below) with sister and brother-in-law, shortly before he moved to the US.

ON THE WATER

A young Vaz on a fishing boat in Brazil. He says he grew up appreciating the simple things in life.

TEAM SPIRIT

Vaz, as an infant below, grew up working on the family farm with his siblings.

ROOTS

CARLOS VAZ

as told to MARIAH TERRY illustration by JAKE MEYERS

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carlos vaz was in his 20s and had just $300 to his name when he left his home country of Brazil to seek his fortune in the United States. Today, he’s the CEO and co-founder of CONTI Organization, a Dallas real estate investment company that manages a $1 billion portfolio and more than 9,000 apartments. Here, he shares his journey: “I’m from a state called Minas Gerais, near São Paulo. I’m number eight of nine kids, so I was very much part of a team. It was a humble beginning; my parents didn’t have much from day one. We didn’t have anything fancy to eat; it was the very typical rice with beans, and maybe a fried egg. My dad was a butcher, and my mom was a homemaker. I remember my dad waking me up at 4 a.m. when I was 7 years old so I could help him on the farm. My dad did a good job by instilling in us a work ethic and giving us chores.

I worked with my brothers, and we learned very quickly that if we worked together as a family, we could finish early. Family was the core of everything. Growing up in Brazil, you appreciate the simple things in life. I learned that you can be happy with fewer things, as long as the family is OK. We used to work from 7 a.m. to 1 p.m., and then we would go home to have lunch before getting together with my cousins to play soccer. There was this joy in the small things in life. I also carry with me a huge gratitude toward the U.S. It’s such a blessed country that provides so much. Ultimately, it doesn’t matter where you’re from; people just want to be happy. I think some values are universal.”

P H OTO G R A P H Y C O U R T E S Y O F C A R L O S V A Z

CEO C O N T I O R G A N I Z AT I O N

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Effective Virtual Communication — Part 1 R O G G E D U N N , PA R T N E R , R O G G E D U N N G R O U P

How can you ensure effective virtual most important skill is effeccommunication in today’s remote work tive persuasion of their oppoenvironment? nents, jurors, and judges. As The pandemic has caused the trend toward virtual Henry Kissinger advised, “Recommunication and working remotely to accelerality is not as important as the perception of reality.” ate exponentially. This means it’s time to up your Effective attorneys study psychology, peogame regarding how you communicate virtually. ple’s proclivities, social trends, and sales techThose who do not adapt to this phenomenon, niques. This means knowing how to persuade—not which will likely survive and thrive post-pandemjust with words and data, but how to present and package your message. ic, will be less likely to retain existing clients and Since virtual meetings are here to stay, you attract new ones. should focus on creating professional and effecChanging consumer demographics will accelerate the virtual meeting trend. Studies indicate tive virtual meetings. First and foremost, invest in that by 2030, Gen X and Gen Y will pass Baby technology to ensure a quality presentation. Use a green screen or other professional background. Boomers as the generations holding the most wealth in the U.S., and many of them will be the Our firm invested $20,000 in a dedicated state-ofdecision makers for companies. The New York the-art HD broadcast quality Zoom studio. Why? Times reported more than 60 percent of AmeriBecause as the cliché teaches us, “You never get a cans are now working from home. Despite heavy second chance to make a good first impression.” marketing from the health and insurance indus While Zoom fatigue is real, it’s less of an issue tries before the pandemic, telehealth visits were in our studio, since it provides a crystal-clear aurelatively small. Surveys indicate that since the dio and visual experience. Our studio has sound pandemic, 75% of Americans are interested in baffling, radio microphones, a sound mixer, a teletelehealth services. Analysts predict that remote prompter, and HD cameras. The cameras have telehealth visits may surpass 1 billion in 2021. A zoom and wide-angle features that improve podcasts and enhance display of three-dimensional survey revealed that 63 percent of investors desire models and exhibits. virtual visits with their financial advisors. These trends make it imperative that companies, execWe have all seen people look unprofessional in utives, and salespersons use quality technology Zoom meetings from their home with distracting, and presentation techniques to make a persuasive unkept, or cluttered backgrounds. appearance via video conAlways remember that ferencing platforms. your virtual environment Successful attorneys are is a direct reflection on perceived as finding the law, you. The takeaway: Upusing legal technicalities, and grade your technology and improve your background collecting evidence to win 500 N. Akard St., Suite 1900 Dallas, Texas 75201 as a first step to persuasive in court. While that is part 214.888.5000 | info@roggedunngroup.com video meetings. of their job, ultimately their www.roggedunngroup.com

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ROGGE DUNN represents companies, executives and entrepreneurs in business and employment matters. These include the CEOs/presidents of American Airlines, Baker Hughes, Beck Group, Blucora, Crow Holdings, Dave & Busters, Gold’s Gym, Halliburton Energy Services, Kinko’s, Texas Motor Speedway, Steak ‘n Shake, SunEdison, Texas Capital Bancshares, Texas Tech University, Tuesday Morning, and Whataburger. Corporate clients include Adecco, Beal Bank, Benihana, CBRE, Cintas, DuraServ, Match.com, Rent-ACenter, and Outback Steakhouse. Dunn was recognized as one of the Dallas 500 in 2021 by D CEO. He has been honored as a Texas Super Lawyer every year that award has been given and named to the Super Lawyers’ list as one of the top 100 attorneys in Texas by Thompson Reuters Service and a D Magazine Best Lawyer 11 times. Dunn is one of only approximately 25 attorneys in Texas Board Certified in both Civil Trial Law and Labor and Employment Law.

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ASK THE EXPERT

Marketing JA N E T C H I S O N L E E , V I C E P R E S I D E N T A N D H E A D O F M O B I L E M A R K E T I N G , S A M S U N G E L E C T R O N I C S A M E R I C A

What is it like to be the head of U.S. mobile marketing for a leading technology company? The marketing world, in general, is very hectic. In order to be successful, it’s important to simultaneously be in tune with consumer sentiment, while driving a strategy that stays in-line or ahead of market trends. To add another dynamic, we are always working with cross-functional partners and must keep in mind that they may not be as knowledgeable when it comes to how marketing can benefit a business. My team and I make it our priority to ensure that everyone involved – from product conception to eventual sale – understands the importance of a sound marketing strategy. As someone who manages a team, how does technology help you stay organized? Given the challenges that come with remote work, we all find ourselves in an extraordinary situation. With our new “normal” work environment, I don’t think our team could function without constant communication. As we aren’t able to physically be together, it’s more important than ever to find ways to build special connections with your team. It’s crazy to think that I have hired people that I still have yet to meet in person! That’s why holding regular video chats, whether they’re one-on-one or with the full team, are especially important. When it comes to staying organized personally, I keep work-related apps on my smart phone. Aside from constantly checking my calendar to stay ahead of what’s next, I rely on messaging apps, which we use heavily. These tools are crucial for me when it comes to staying connected to my team, remaining on top of our schedules, and making urgent decisions. What is your leadership philosophy and approach to team building/motivation? My objective as a leader reaches beyond being nice and staying diplomatic. I believe the first mission that any leader should set out to accomplish is to determine how to get the best quality of work out

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of their team. If you are straightforward as a leader and don’t shy away from difficult conversations, it will pay off in the long run—resulting in team members who are persistent, loyal, and will rise to any challenge. In order to get top performance out of my team, I set very clear expectations and standards. I try to lead by example and take the time to sit with each team and provide them with feedback that is fair and factual. I apply the same rules and standards to everyone on my team, to myself, and to our agency partners. And above all, I push my team to not just be taskers, but to be thinkers. To build a team of thinkers, it is the leader’s responsibility to clearly convey why you are assigning projects, what the objectives are, and how to deliver successfully. A team of thinkers will outperform a team of taskers every day of the week. What is the greatest challenge you and your team have encountered due to the pandemic? As a team, the largest challenge has been the inability to connect in person. Yes, we have video conferencing, and I can see their faces and reactions on the other side of the screen, but it’s kind of like artificial sweetener—not sugar. While we don’t get to celebrate important milestones, like weddings and baby showers, together, we have all been pleasantly surprised by the things we can do more efficiently in this environment. We have managed to stay very focused and productive together. How do you keep your team motivated and focused amidst the challenges the pandemic has created? People are most motivated when they feel like what they are doing matters and is driving impact on the business or the brand. When you give your team a vision for all the things they can do, they will drive results. We all have fun together and are motivated when we do our job well. This team has a demanding workload, but what we have accomplished together so far has certainly made an impact.

JANET CHISON LEE is the vice president and head of mobile marketing at Samsung Electronics America. In this role, Lee leads mobile device marketing for the U.S. market, and is responsible for developing and executing brand strategies for the company’s lineup of mobile devices. Lee joined Samsung Electronics America in 2017. Prior to joining SEA, Lee held positions in marketing and brand strategy at Shiseido, Elizabeth Arden, and L’Oréal. Lee received her bachelor of arts in philosophy from the University of California Los Angeles and holds a master of business administration from Northwestern University’s Kellogg School of Management in marketing, management and strategy, and decision sciences.

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2/5/21 10:17 AM

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WOMEN LEADERS in LAW

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The go-to, trailblazing Women Leaders in Law on the following pages are well-respected and sought after in the Dallas area. Assisting a wide range of individuals and commercial clients, they are considered foremost experts in their specialties and held in high regard as valuable resources and counsel by their firms, legal peers, and the clients they zealously represent.

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BOGDANOWICZ FAMILY LAW High-conflict litigation deserves a high-powered advocate, which is what you’ll find at Bogdanowicz Family Law. Not only is the firm woman-owned, all of the attorneys are women as well. “Our clients need someone who will fight for them and someone they can trust,” Erin Bogdanowicz says. “This is a complex field of law. Experience and results matter because clients are going through some of the worst times of their lives.” Bogdanowicz is a skilled negotiator and trained in collaborative law, but the courtroom is where she and her team shine. “I’m known for being fairly aggressive,” she says. “We are a client-driven firm. Their needs are our top priority.” P H OTO G R A P H Y BY B R E T R E D M A N

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Left to right: Misty Cole, Erin Bogdanowicz*, Carla De La Cruz * Board Certified in Family Law by the Texas Board of Legal Specialization

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P H OTO G R A P H Y BY V A N E S S A G A V A LY A

FAMILY L AW

SPECIAL ADVERTISING SECTION

CLOUSE BROWN PLLC LABOR & E MPLOY ME N T L AW 2020 was the year no one expected and a particularly difficult one for businesses. The team at Clouse Brown PLLC had one of its busiest years yet. “Workplaces, and consequently employment law, were immediately impacted by the pandemic,” says Alyson Brown, partner. “We immersed ourselves in the new COVID-19 regulations, advising employees and employers on next steps.” The experienced women lawyers of Clouse Brown PLLC understand the challenges women face, both in and out of the workplace. They’ve been there. “As women, we are used to multi-tasking,” Brown says.“We’ve positioned our firm to pivot and do whatever is needed to meet our clients’ needs. Our clients face the same challenges we do during the pandemic—trying to stay safe and healthy, dealing with remote schooling, and evolving our business operations. We’re there when clients need us most, and have successfully adapted to trying cases remotely. We recognize we’re in a new normal and haven’t missed a beat.”

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Pictured: Aubrey M. Connaster

2/9/21 11:53 AM

P H OTO G R A P H Y BY M A T T S H E L L E Y

Aubrey Meachum Connatser and the women attorneys at Connatser Family Law remain committed to results-oriented problem solving in all matters of family law. Divorce, child custody, complex property settlements, premarital agreements, modifications, and collaborative law—they are sought-after experts who are as gifted at settling cases as they are at trying cases in court. They understand divorce looks different for each family and offer sage counsel and proactive planning based on each client’s individual needs and goals for their family. Each attorney, widely known and respected throughout the state, is a leader in her own right, and the Tier 1 divorce firm continues to receive awards and recognition for its impressive results.

McCLURE LAW GROUP 10 0 % FA M I LY L AW At McClure Law Group, every client, case, and employee are important to the firm—and the team proves it. They are known for their experience, talent, and insightfulness—a result of the diverse pool of attorneys at the firm. With an appellate attorney, licensed CPA, and board-certified veterans on staff, McClure Law Group is equipped with a team who is ready—financially and procedurally—for the most complex cases. Whether a case involves a family with a multi-business estate or one with complicated family dynamics, the McClure Law Group has handled it all and knows the best way to approach each situation. The concierge, in-house services provided at the McClure Law Group remain unmatched by other firms. If you find yourself in the middle of a divorce, in need of a prenup, or having a custody dispute, Kelly McClure and attorneys are The McClure Law Group are the team to call.

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P H OTO G R A P H Y BY V A N E S S A G A V A LY A

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Left to right: Kate Mataya, Partner; Georganna Simpson, Of Counsel; Kelly McClure, CEO and Managing Partner; Francesca Blackard, Managing Partner.

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Family-owned, boutique Starr Law Firm, P.C. has deep roots in Dallas-Fort Worth and is known for developing close working relationships with and providing personalized services for clients. Recognized by Super Lawyers as a top-rated estate planning and probate attorney, Laura Starr achieved a Rising Star designation for 2020 to 2021 and was selected as 2021 Best Lawyers Under 40 by D Magazine. Laura is passionate about educating her clients on the best legal approach to protect them as well as their families and businesses given their unique goals and circumstances, then creating with them a complete and customized estate plan to best accomplish those goals. Laura is active in female-focused professional organizations and frequently speaks to organizations about the importance of estate planning.

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The 660-acre PGA Frisco development will house PGA of America’s headquarters and feature two championship golf courses.

Letter From The Editor P72

The Biggest Real Estate Stories of 2020 It was a year unlike any other. Still, Dallas-Fort Worth’s commercial real estate market held firm, with big relocations, record-breaking investment property sales, a booming industrial sector, and notable executive moves. story by BIANCA R. MONTES

P78

What to Watch in 2021 North Texas is expected to be a big winner in the post-coronavirus recovery. Here are some projects and trends to keep an eye on. story by BIANCA R. MONTES

P81

Expert Opinions More than 100 market leaders serve as contributing editors for D CEO’s real estate site. Plus: Our full lineup of experts on board for 2021. story by CHRISTINE PEREZ

P93

Power Brokers 2021 Executives at 92 North Texas firms employing more than 2,240 brokers tell us who generates the most revenue for their companies. 2021 E D IT IO N

Hoque Global plans to break ground this year on O N E N E W PA R K , a 30-story tower near Dallas City Hall.

story by MARIAH TERRY

THE YEAR S TOP STORIES PLUS

I M AG E C O U R T E S Y O F P G A F R I S C O

OUR 2021 CL ASS OF POWER BROKERS

The industry’s biggest deals, hottest trends, and most surprising executive moves.

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ON THE COVER:

Hoque Global plans to break ground this year on One Newpark, a 30-story tower near Dallas’ city hall and farmer’s market.

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LETTER FROM THE EDITOR

“D CEO’s commercial real estate site and newsletter has become the town square that our industry has always needed.”

The Big Real Estate Recovery Times of trial often prove to be the most opportune for growth. Our region’s resiliency will propel us forward.

RAN HOLMAN

Be a part of it

dmagazine.com/realestate

REAL ESTATE Reports on North Texas Commercial Property Deals

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P H OTO G R A P H Y BY N A T A L I E G O F F

Executive Vice President & Texas Leader of Newmark

when i joined d ceo as real estate editor in 2019, the region was still experiencing an up cycle that was lasting well beyond historical norms. Dallas-Fort Worth ranked as one of the most desirable investment markets in the country, and corporations were continuing to relocate and expand here. Headline-grabbing developments and redevelopments filled the Dallas skyline with cranes. And downtrodden neighborhoods, from Bachman Lake to Old East Dallas, were seeing a flurry of revitalization efforts. Then COVID hit, and everything changed. Although this might feel like the perfect place to grumble; I won’t. Why? If I have learned anything over the past decade as a journalist, it is that times of trial often prove to be the most opportune for growth. Seeing the resiliency of the community, I fell in love with Texas all over again—just like I did when I moved here from California nearly 20 years ago. There is nothing like the can-do spirit of a Texan. It’s that spirit that will continue to propel us forward. Although office occupancy in Dallas-Fort Worth will probably not improve significantly until the second half of 2021, it will bounce back. And although the retail market has fluttered, it will pivot and adapt. Commercial real estate plays a huge role in the economic vibrancy of North Texas, which is home to some of the most influential players in the country. The region will continue to attract people and companies. We will thrive.

Bianca Montes Real Estate Editor

DCEOMAGAZINE.COM

2/9/21 8:43 AM

Tollway North Office Park

Legacy Town Center

3811 Turtle Creek

Highland Park Place

Providence Towers

Tower 909

Preston Commons

Sterling Plaza

THANK YOU! During a historic time in commercial real estate, KBS thanks each of you for your resiliency, dedication and support. Cheers on a job well done! Andrew Hegmann

David Balogun

Tyler Howarth

Maggie Birnbach

Renee Castillo

BD Amend

Elizabeth Loving

John Beach

Matthew Huckin

Rich Flatten

Bill McClung

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Fischer

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Newark Newark

JLL

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Dental Space Advisors

NAI Robert Lynn

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N/A

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Louis Pascuzzi

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CBRE

Westgrove LLC Avison Young Cushman

For more information, please contact: BRETT MERZ (949) 417-6545 bmerz@kbs.com

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BIANCA R. MONTES

THE B I

GES

REAL ESTATE STORIES

OF A LTH O U G H TH E COV I D PA N DE MI C TE MP E R E D DE A L- M AKI NG ACT I VI T Y

in 2020, North Texas remained a hotbed for transactions. It led the country in investment property sales—knocking Manhattan right out of the top spot with large deals such as the $400 million sale of the Galleria office towers and the $370 million sale of The Union development in Uptown. Relocation activity continued, with two Fortune 500 companies among those moving into the region. The state’s largest-ever historic renovation lit up the Dallas skyline for the first time in a decade, and the Texas Rangers were welcomed into a new $1.2 billion, HKS-designed stadium. These stories were among those that generated the most traffic on our D CEO Real Estate site in 2020. We also talked with a number of market experts who shared their opinions on projects and deals that stood out. Here are our picks for the industry’s 10 most notable news stories of the year.

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The COVID-19 crisis significantly impacted commercial real estate in North Texas and forever changed how we work. Stay-at-home orders threw a wrench into bustling office and retail markets, causing companies to reevaluate their office space needs. Net leasing dropped by nearly 4 million square feet, and merchants pivoted to online models during the most significant disruption to hit the retail industry in three decades. It wasn’t all bad news in 2020, though. DFW saw major industrial sector gains, thanks to an e-commerce boom. And in the true Texas spirit, the region saw innovation, with companies such as VARI renovating the former IBM Southlake campus to host short-term renters and restaurateurs shifting to ghost kitchen models.

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Although construction was delayed due to the pandemic, PGA of America broke ground on its new Frisco headquarters in late September.

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Designed by architect Page Southerland Page, the 106,622-square-foot office building is expected to open in early 2022, just south of U.S. Highway 380. The headquarters will anchor the 660-acre PGA Frisco campus, which will also feature two championship golf courses and an Omni Hotel and Resort. PGA of America announced it was moving its base from Florida to Frisco back in 2018. The PGA Frisco development will have an initial public-private investment of about $520 million and is anticipated to have an economic impact of more than $2.5 billion over the next two decades.

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EXECS ON THE MOVE Some of the region’s largest commercial real estate firms got new leaders as 2020 came to a close.

RA N H OL MA N

MIK E LAF IT T E

DANIEL TAY LO R

One of the most signifi-

CBRE, the world’s

The sudden departure

cant executive changes to

largest commercial real

of Colliers Internation-

make headlines last year

estate firm, shuffled

al’s Steve Everbach was

came when Ran Holman,

its C-Suite deck at the

followed by the news that

a 30-year industry veter-

end of 2020. It put Mike

the firm had hired

an, left his leadership role

Lafitte, global chief of

Daniel Taylor, a divisional

at Cushman & Wakefield

the firm’s investment

managing director of retail

to take a statewide post

business, also in charge

at CBRE, to run its North

at Newmark. Once a minor

of its development arm,

Texas office. As executive

player in the local market,

Trammell Crow Co. He

managing director and

2020 was a big year for

replaces Matt Khourie,

market leader, he will

Newmark, which also

who is moving into a Chief

oversee all brokerage

welcomed Gary Carr, John

Investment Officer role

operations and service

Alvarado, and Robert Hill

at CBRE and, in April, at

lines, focusing on new

of CBRE and Chris

Trammell Crow Co., when

business development,

Murphy of JLL.

CIO Craig Cheney retires.

recruitment and retention.

Dallas was the nation’s top commercial real estate market in 2020, with nearly $20 billion in investment property transactions. Commercial property sales volume took a roughly 40 percent dip last year, but DFW still managed to emerge as the national leader for commercial real estate deals, according to Real Capital Analytics. The pre-pandemic sale of the Galleria Office Towers, a three-building asset, for $396 million started the year off well. At $730 per square foot, the $370 million sale of The Union set a record for the market. Other notable deals included the former American Airlines headquarters, Centura Tower, Douglas Center, and Creekview Corporate Center I & II in Richardson.

BOOMING HOUSING MARKET

When COVID hit, residential developers planned for the worst. But as stay-at-home orders eased up, the market took off—extending the buying season well into the fall. Why? To start, buyers got comfortable working from home and traded in tight quarters in dense urban Dallas for large floor plans in the suburbs. Out-of-town dwellers also continued to buy as job relocations stalled by the pandemic picked back up. Interest rates, at or near historic lows, were a factor in driving deals, too. All of these trends have 2021 poised to be an even better year, with sales forecasted to be 5 to 10 percent higher than 2020.

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CENTER FOR GROWTH

Texas continues to draw corporate relocations and expansions. Here are two significant 2020 moves.

COVID-19 couldn’t slow down DFW’s industrial boom. Instead, it pushed it years ahead.

C BRE Brokerage giant CBRE finally made its North Texas relationship official, announcing plans to relocate its corporate headquarters to Dallas after calling California home for more than 100 years. The move was inevitable; North Texas has been the company’s de facto headquarters for nearly a decade as its largest operating center and home to several senior executives.

The 2020 Major League Baseball season didn’t go the way anyone imagined, but the Rangers ultimately began play at their new home. Designed by HKS, Globe Life Field received national attention when it hosted post-season and World Series games. Although not everyone is a fan of the facility’s exterior, its design makes it ideal for watching baseball under the hot Texas sun. The 40,300-seat stadium comes with a massive, 24 millionpound retractable roof that opens in less than 12 minutes.

LEADING T H E PAC K

C H A RLES SCHWAB

DEMAND

CBRE reports that Q4 2020 marked the 41st consecutive quarter of positive net absorption for DFW industrial, and five years of annual absorption topping 20 million square feet.

Another Fortune 500 company deciding to call DFW home was Charles Schwab, which said goodbye to pricey San Francisco and hello to Hillwood’s Circle T Ranch in Westlake. The move was primarily spurred by its $26 billion merger with TD Ameritrade, which housed about 2,000 employees in Southlake.

SUPPLY

Developers responded by building nearly 32 million square feet of industrial space in 2020, according to Cushman & Wakefield. Build-to-suits accounted for 14 percent of the total.

E-COMMERCE

A shift in how we shop led to major deals to advance last-mile delivery. Last year, North Texas saw seven 1 million-square-foot industrial leases signed.

A REINVENTED FAIR PARK

Dallas City Council members approved an extensive plan to revitalize Fair Park in October. The intention is to make it more of a year-round destination, rather than just the home of the State Fair of Texas. Plans for the 277-acre complex include 52 acres of new or expanded parks and open spaces and the removal of concrete and blacktop, which will be replaced with things like a 2.3-acre Music Green. Funding will be a huge part of renovations as the first phase alone—the parks—is estimated to cost $85 million. The six- to 10-year second phase will focus on a parking deck, hotel, and other growth stimulators for the neighborhood.

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I N N OVAT I O N

Supply-chain shortfalls have highlighted a need to up the game on industrial’s most significant challenge: transportation. Work in autonomous trucking is already happening at AllianceTexas.

O P E N I N G S P R E A D A N D I C O N S S H U T T E R S T O C K , T H E N AT I O N A L C O U R T E S Y O F G U S T A V F O T O , A L L OT H E R C O U R T E S Y O F C O M P A N I E S

Although baseball stalled for a bit last year, the Texas Rangers moved into their new $1.2 billion ballpark, Globe Life Field in Arlington.

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The vertical white lights on the former First National Bank tower lit up for the first time in over a decade. LED BY DALL AS-BASED TOD D I N T ER E STS , I N PA R TN E R S H I P W I TH

Moriah Capital, the $460 million redo of the 52-story, George Dahl-designed building marks the state’s biggest adaptive reuse project. The 1.5 million-squarefoot tower, now known as The National and bounded by Pacific Avenue and Akard, Field, and Elm streets in the heart of the central business district, had been vacant for more than a decade. Last year, Downtown Dallas Inc. leased 23,000 square feet in the building, which houses a vibrant combination of office space, luxury apartments, a 219-room Thompson Hotel, and retail and restaurant space— including the new Catbird restaurant, shown here.

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MARCH 2021

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North Texas is expected to be a big winner in the post-coronavirus recovery. Here are some projects and trends to keep an eye on. story by BIANCA

R. MONTES

P R O J E C T P H OTO S C O U R T E S Y O F C O M P A N I E S , B LU E P R I N T: S H U T T E R S T O C K

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SUBURBAN VS. THE LON G-TER M R A MI FI CATI ON S OF THE R EMOTE-WOR KI N G

OV E R T H E PAST FE W YE ARS ,

there has been a big push to revitalize South Dallas and restore historic areas and buildings. Groups like South Dallas Progress have been leading the charge. New developments on the edge of the city’s downtown like the Southern Gateway deck park and Hoque Global’s Newpark Dallas highlight this push. And then there is the planned high-speed train between Dallas and Houston, which should spark ancillary development. Also of note are plans for at least $200 million in investments over the next five years at Fair Park and the ongoing redevelopment of Redbird Mall.

model will largely depend on how and when workers return to the office. Last year saw an unprecedented uptick in sublease space in North Texas, coming in at about 9 million square feet at the end of 2020. Industry experts, though, predict Dallas will begin to see a rebound with office workers returning by mid-summer and new tenants coming to town. The general consensus is that most sublease space will be absorbed by 2022.

URBAN

Dallas’ suburban neighborhoods appear to be outpacing bigcity life. And it is not just getting more bang for your buck when it comes to housing. Companies are seeking space that is less dense and less expensive in suburbia. For example, average Uptown office rents come in at $40 plus per square foot, while corporate office space in Richardson is going for $24.76. During the past decade, 32.3 million square feet of office space was developed in suburban submarkets.

THE REINVENTED

WORKPLACE Design experts say COVID has made us realize that the most important aspect of working in the office is the social aspect and the ability to foster a company’s culture. Similar to retail, the office of the future will be much more about the experience than cramming bodies into space. Trends will focus on outdoor areas that function as an extension of the office, more flexibility in spaces—especially with the emerging hybrid office model—and upgraded technology that creates an experience worth the commute.

BACK TO THE FUTURE:

More developers are eyeing projects that use mass timber and engineered wood products. Mass timber is an emerging trend in low- to midrise office developments, as it is both scalable and sustainable. Compared to traditional materials like concrete, mass timber buildings are environmentally friendly, unique looking, and less

expensive. The trend of returning to wood for office buildings started in the Northwestern U.S. but is slowly moving across the country and into Texas. A mass timber office planned for Trinity Groves is planned to be around five stories

and 300,000 square feet, while Hunt Realty is looking at a seven-story building on Field Street. A next step in the revolution will be updating building codes in Dallas that limit the number of stories allowed in mass timber projects.

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Rothschild Capital Solutions Signature Bridge Loan Senior Secured Debt - Acquisitions $15 million to $50 million - New Home Subdivisions - Condo Development - Affordable Housing Community Development

Gary Williams LaSalle James Financial Center Suite 691 650 Warrenville Rd, Lisle, IL 60532 708.540.1711

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TRIBU T ON

by C H R I S T I N E P E R E Z illustrations by J A K E M E Y E R S

ED I TO R S

EXPERT OPINIONS

More than 100 market leaders serve as contributing editors for D CEO’s real estate news site.

SHUTTERSTOCK

Luis Delgado | AECOM Matt Dornak | Stream Realty Partners Steven Duong | AECOM Garrison Efird | Newmark

I T H AS B E E N 1 0 Y E A R S S I N C E WE LAUNCHED D CEO ’S

commercial real estate news site. Back then, it was known as RealPoints. Our mission was to cover the region’s large, diverse, and vibrant commercial real estate market in a new way, going beyond the who-what-when-where of news to tell you how it happened and why it matters. And from the beginning, we wanted it to be for, about—and by—those in the industry. So, we invited area experts to serve as contributing editors. That first year, 75 industry notables shared their on-the-ground reports and insights. That number has since grown to 115 and includes research pros, emerging leaders, and top execs like Bill Cawley, Fred Perpall, Diane Butler, and Herb Weitzman. On the following pages, we feature top blog posts from the past year and reveal our full list of contributing editors for 2021.

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NTRIBUT

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Originally published Oct. 8, 2020

It’s The Perfect Time to Experiment in Real Estate

M I C H A E L DA R D I C K C EO, G ranite Prope r ties

RETAIL WILL BECOME ALL ONLINE. NEW YORK IS DEAD.

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Yay suburbs, boo urbanity. Everyone will work from home—always. We can all live anywhere, and work from there. Malls are dead. Business travel and hotels will never come back. ... As we have all heard many times since the start of this health pandemic, COVID is just accelerating existing trends in real estate. These above statements may be directionally correct, but they may be a little—or a lot— off on the timing. All of this talk brings to mind a quote from Bill Gates: “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next 10. Don’t let yourself be lulled into inaction.” phone” you can imagine. (Look it up, folks; one of I think the important part of Gates’ the first mobile phones.) Now, a whole computer quote is, “Don’t let yourself be lulled into infits on a device the size of my hand. How about action.” When disruptions occur, adapt and leaps forward in using mobile phones for geoinnovate to meet changing needs. I have caching to determine traffic patterns, and then been lucky to be in real estate for a long applying machine learning to the massive data time, and it has been fun to see the many sets for conclusions? From self-driving cars to leaps forward in the industry. The capital Uber Air taxis like those on The Jetsons, changes formation became further institutionalized in transportation were depicted five decades ago. with the advent of securitization, public (Google the show’s opener: “Meet George Jetson REITs, private REITs, and other financial … Jane, his wife.”) The point is this: Our world is vehicles. Development always advances moving fast, which is awesome, but we should all with the creation of new materials and contake time to understand the underlying fundastruction techniques—a six-story tilt wall, mentals and benefits of the changes. This likely a million square feet of warehouse under takes more time than it feels like we have, but we one roof, and timber construction for office have time to experiment and innovate. buildings all come to mind. I am excited to see all of the great Dallas real Technology has impacted all industries, estate community innovations to develop new including real estate. I don’t want to give products, locations, services, and capital during my age away, but I had the coolest “bag this time of incredible disruption.

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continued from page 081

Originally published Jan. 24, 2020

An Overlooked Contributor to the Affordable Housing Crisis: Parking Requirements THE CURRENT DALLAS CITY CODE REQUIRES TOO MANY PARKING spaces. Many have decried the abundance of surface parking lots and parking garages that interfere with the flow of walkable neighborhoods. Less discussed are the costs associated with meeting parking requirements. A good rule of thumb is that a multifamily parking space can cost the renter around $1,200 a year because building costs are passed through in rent. (And the beloved below-grade parking that we all want costs twice as much to build.) Because of these parking obligations,

Robert Grunnah | Younger Partners

I have had to develop multifamily buildings where entire floors of parking garages

Dan Harris | Stream Realty Partners

sit empty overnight.

Lynne Hejtmanek | Cushman & Wakefield

There is also an opportunity cost—parking to code often limits what else a developer can do, as it utilizes space that could be dedicated to better amenities

Elizabeth Herman | CBRE

for the community and better design integration with the neighborhood. We need

Ran Holman | Newmark

to amend the zoning code to reduce the strain of high parking demands and make

Rami Issa | AECOM

housing more affordable. The car is not going away, but we can start with some easy items for immediate change while task forces evaluate meatier reforms.

HERE ARE SOME POTENTIAL QUICK WINS: • Allow for tandem parking spaces to qualify for the parking minimums in all circumstances, not just specific districts. This reduces the amount of building area needed for a parking space. • Allow for more compact parking spaces to qualify as off-street parking; dedicate less lot and building area to the car.

Nate Kowallis | McCarthy Cos.

• Allow bike parking spaces and proximity to DART stops to count

Eric Krueger | Balfour Beatty US

toward a parking reduction universally, not just in specific districts.

Tatum Lau | AECOM

• Reform the code to require no more than one space per unit as a minimum, rather than one space per bedroom.

JJ Leonard | Stream Realty Partners

• Exempt buildings from parking minimums if they are within close

Steve Lieberman | The Retail Connection

proximity of high-frequency transit stops.

• Help the long-term residents realize gains: Work with residents in rapidly developing neighborhoods to alleviate parking requirements that make it impossible to convert a single residential lot into something of higher value. Otherwise, the resident has to sell the property and the profits to someone else who consolidates multiple lots. These code revisions would immediately impact the affordability of housing before needing to spend taxpayer dollars on subsidies or other incentives. Rest assured, there will still be ample parking–current estimates are that there are eight parking spaces

Jeremy McGown | JLL

built for every registered vehicle. All of these proposals rest on the general premise that

Linda McMahon | The Real Estate Council

a developer is incentivized to ensure a project is economically feasible and desirable

Ryan McManigal | KDC

to the market and still offers a minimum parking parameter controlled by City Hall.

Rick Medinis | NAI Robert Lynn Greg Miller | Henry S. Miller Marshall Mills | Weitzman

K AT Y S L A D E P rin cip a l a n d Fo u n d e r M int wo o d Re a l E s t ate

Bob Mohr | Mohr Capital continued on page 086

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Originally published Oct. 6, 2020

The Ups and Downs of Corporate Relocations

STEVE TRIOLET Dire c tor of Research , Younge r Par tn e rs

DALLAS-FORT WORTH HAS ATTRACTED MORE THAN ITS

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fair share of corporate relocations and expansions. Having a large portion of corporate headquarters is economically advantageous for a metro area, as they typically provide a large number of higherthan-average paying jobs. But there can be complications to having a large concentration of corporate headquarters when an economy is in a recession. Due to shareholder pressure, corporate America reacts very strongly to dips in profitability with mass layoffs, furloughs, and other cost-cutting measures. American Airlines and Southwest Airlines have done this. Other companies have shed mies in the U.S. and is outperforming most other fewer jobs but are trying to control costs major markets. Longer-term, our region’s affordby dumping large amounts of sublease able home prices, lower costs of living, and tax office space on the market or consolidating advantages are expected to play a key role in high multiple locations into one. net-migration to North Texas. Companies and The immediate impact has been a reindividuals from higher-priced coastal markets cord level of sublease space available. At the like San Francisco, Los Angeles, and New York end of September 2020, there was about 9 City have made a mass exodus to other parts of million square feet of office sublease space the country. Texas and Dallas-Fort Worth, in available. DFW typically does have a fair particular, have been one of the primary benefiamount of sublease space with larger tenciaries of this trend. State Farm, Toyota, Deloitte, ants that have new facilities built-to-suit McKesson, Charles Schwab, JP Morgan Chase, for them often have overlap on their older Liberty Mutual, and other companies have all properties and sublease them out. The longeither relocated or significantly expanded their term average amount of sublease space for North Texas operations over the past few years. the DFW office market is slightly more than The DFW office market’s primary current down5 million square feet, including sublease side risk is the sheer volume of sublease space availnumbers from the past 15 years. able, particularly in large corporate offices. Large But all is not doom and gloom. Even as office users typically opt for brand new buildings corporate America continues to struggle, over second-generation space or sublease space. DFW has one of the most diverse econo-

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Corbett Nichter | Adolfson & Peterson Dan Noble | HKS Amy Nott | JLL Brian O’Boyle | Newmark Originally published Feb. 26, 2020

Nathan Orbin | Cushman & Wakefield

Three Questions to Ask When Determining The Next Steps in a Deal

Fred Perpall | The Beck Group Ian Pierce | Weitzman Don Powell | BOKA Powell Christina Quiñones-Kurzyniec | CRESA

AS THE TRAGIC NEWS OF KOBE BRYANT AND OTHER PASSENGERS

Fred Ragsdale | JLL

losing their lives in a helicopter crash in California hit the wire, I found myself becoming

Dev Rastogi | JLL

very reflective. I felt the same way when our friend Steve Thelen, his wife Gina, and

Courtney Richardson | BOKA Powell

eight others left us all too soon last year. One quote from Kobe that has always struck a chord with me is: “Every day when I wake up, my goal is to outwork my potential.”

John Riggins | Talley Riggins

My life experiences have taught me that many of us have aspirational goals—with most

Scott Rodgers | DuWest Realty

of them fading into thoughts about what could have been. How many times have you

Andrew Schendle | Hunt Construction

figured out ways not to try something for reasons known and unknown? Maybe you

Matt Schendle | Cushman & Wakefield

convinced yourself it was market conditions, or lack of capital, or perceived lack of experience–fill in the blank with the excuse—but you get the point. Or, maybe if you

Dupree Scovell | Woodbine Development

were honest with yourself in those quiet times, you would realize it was just fear.

David Seifert | Velocis

When I left a big firm and co-founded a company back in 2008, I can recall all the reasons I shouldn’t have leaped. The market was horrible with the DOW at 6600; it

Saadia Sheikh | JLL

was my first time serving as a CEO, there was no visibility beyond 18 months of cash

Alan Shor | The Retail Connection

flow, and everyone doubted our delivery approach to real estate. One of my mentors at the time challenged me by saying, “Yes, all of those things are true, but you are also

Cindy Simpson | Gensler

getting a chance to try something many don’t get the opportunity to try. So, consider

Katy Slade | Mintwood Real Estate

going for it, because you can always come back if it does not pan out.”

Karla Smith | SRS Real Estate Partners

In hindsight, it was one of the greatest gifts I ever received that motivated me. It was the “gift of doubt.” It kept us sharp; it kept us motivated, it kept us hungry. To

Eliza Solender | Solender/Hall Inc.

this day, I continue to be thankful for those who doubt us–and it can be the fuel that

Jo Staffelbach Heinz | DLR/Staffelbach

empowers you as well! Imagine what you could achieve without the fear of failure—

Evan Stone | Goodwin Advisors

not just professionally but also in your relationships. We all have seasons in our life

Jack Stone | Greysteel

where we lose focus, we say things we don’t mean, we make decisions that we would take back, we sit on our hands when we should stand proud. But what if you chose

Chelsea Story | CBRE

a bolder path instead??

Nick Summerville | Kaizen Development Partners

I once had the pleasure of being part of a great conversation with former Notre Dame great Lou Holtz one evening. He was asked a question about dealing with

Sara Terry | Colliers International

pressure. His reply was: “Ninety percent of people don’t care about your problems,

Tarisa Tibitt | Worldwide Commercial

and the other 10 percent are happy you have them, so you may as well not worry about them.” After an initial chuckle about how witty the statement was, I realized

Steve Triolet | Younger Partners

that he was right. I have learned through trial and error always to choose passion over

Clay Vaughn | CBRE

polish. When determining the next steps in a deal, I whole-heartedly recommend

Carlos Vaz | CONTI

asking yourself three questions before deciding to align yourself with partners: Can I trust you? (Because without trust, you’re done.) Are you committed to excellence?

Herb Weitzman | Weitzman

Do you care about me? (Don’t just say it; are you authentic?)

Michele Wheeler | Jackson-Shaw

In the business world, we all try to time the market, review analytics, create risk-

King White | Site Selection Group

adjusted transactions, etc. But at the end of the day, we are not in total control, and

Craig Wilson | Stream Realty Partners

the illusion of anything to the contrary is fictitious. Accept it, take your shot, and exhaust yourself in being ethical, trustworthy, and hard-working.

Lindsay Wilson | Corgan Bob Young | Weitzman Moody Younger | Younger Partners

DEREK EVERS C EO, Kaize n D eve lo p m e nt Pa r tn e r s

Keyan Zandy | Skiles Group John Zikos | Venture Commercial Real Estate Steve Zimmerman | The Retail Connection

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D M CAEROC M H A2G0A2Z1 I N E . C O M

2/4/21 12:09 PM

Now Leasing Retail & Office 972-410-6600 972-375-0527

CONNECTED LIKE NEVER BEFORE The Realm is a master-planned 324-acre community offering office, retail and luxury living. Inspired by outstanding urban community design, located just south of State Highway 121, minutes west of the Dallas North Tollway. The Realm serves to connect people with each other and their environment. RECOGNITION 2021 D CEO Developer of the Year Finalist (Bright Realty) 2020 D CEO Best New Mixed-Use Project Finalist 4400 State Highway 121, Lewisville, TX 75056 www.TheRealmCastleHills.com

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NTRIBUT

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Originally published Oct. 23, 2020

Rethinking Space is Key to a Real Estate Recovery

L I N DA M C M A H O N Preside nt and C EO, Th e Real E state Council

LAST YEAR, THE COMMERCIAL REAL ESTATE INDUSTRY

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contributed $50 billion to the state’s economy, making its recovery essential for Texas’ long-term vitality. Although the North Texas market experienced relatively fast recoveries from past economic downturns, this pandemic poses an entirely new set of challenges. Long-term recovery will require us to rethink how people are going to use various spaces in a time when they want to be around fewer people who are spaced farther apart. It also means that companies are considering new site options as they become more protective of their manufacturing and supply chain capabilities. Each asset type and class has its distincners, or voice-activated devices, will also be intetive challenges. So far, the office market is grated to minimize public touchpoints. not experiencing a major slowdown due One of the biggest questions impacting the ofto COVID-19. Although not robust, there fice market is whether more companies will adopt is activity taking place as rents are being remote working. The shelter-in-place experience paid at 80 percent, and leases are still being helped many companies realize that virtual consigned. Most of the discussion among real ferencing, online presentations, and other techestate and corporate professionals is focusnology tools are viable ways of conducting busiing on how offices will function in the funess. At the same time, employees have become ture. In recent years, co-working emerged reluctant to give up additional family time for as one of the biggest office trends. Demand long commutes on overcrowded roadways. will likely decrease as more people who utiHowever, working from home does not elimilized co-working space may decide to work nate the need for corporate office space. Employfrom home or look for options that provide ees need daily interactions to feel connected to more individual space. coworkers. Creating a corporate culture cannot In this era of social distancing, we also be accomplished if employees are not working in expect to see the return of private corporate the same space. Culture is essential for a brand’s offices. They have largely gone away in reidentity since a dynamic culture supports talent cent years in favor of open workspaces with recruitment and inspires loyalty among employas many workstations as possible. Touchless ees, customers, and other stakeholders. technologies, like automatic doors, bio scan-

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DCEOMAGAZINE.COM

2/4/21 12:10 PM

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ASK THE EXPERT

Commercial Title B I L L S H A D D O C K , OW N E R & C EO, C A P I TA L T I T L E- C O M M E R C I A L A N D S H A D D O C K N AT I O N A L H O L D I N G S

What do you see as the biggest opportunity for commercial real estate dealmakers in the region right now? Every week there is an announcement of companies relocating from the east and west coasts to the Dallas-Fort Worth region. The potential for expansion and growth in North Texas is unlimited. It’s that “can-do” Texas attitude that makes for a bright future in Dallas-Fort Worth. Where do you see 2021 expansion in commercial real estate in Dallas? Based on our closings, it seems that multi-family and warehouse-related uses have been the most active areas of the commercial real estate market. I expect that trend will continue with the uncertainties present in the retail and office markets due to Covid-19. What are the primary differences between commercial title and residential title closings? The level of closing expertise and broad legal knowledge are necessary components of a successful commercial transaction closing. The demands in a commercial title setting are significantly higher than in a more conventional residential closing environment. How has your company grown along with the Dallas commercial market? Capital Title-Commercial has significantly grown and expanded during the last five years. We have seven designated commercial offices out of our 50plus office network in Dallas-Fort Worth. We now have specifically designated commercial offices in every major metropolitan area of Texas. Capital Title was recently ranked one of the “Top 100 Places to Work” by the Dallas Morning News. What makes your company culture so unique? It’s all about our people and our culture. Peter Drucker said, “Culture eats business strategy for breakfast.” We believe we have the best people in

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the industry. We are all about positive outlooks and positive attitudes. We are committed to delivering excellence in every transaction. We operate our company according to a strong set of values and ideals in a people-first, servant leadership environment. Your company slogan is ‘We Deliver Excellence.’ What does that mean? Delivering excellence to demanding commercial clients is a fully integrated process that begins with a local staff of experienced title examiners, many of whom are real estate attorneys themselves. It is then necessary to have experienced commercial closers review the title commitment with the parties to the transaction. They must have the knowledge to perform curative work with the commitment, provide necessary endorsements, and determine all the financial-related issues and prorations associated with the closing. Finally, the closing and funding must be timely and flawless. There must be excellent communication between the title company and the parties to the transaction, from the initiation of the contract until the funding and closing of the transaction. What is distinctive about Capital Title? We are the largest independent title company in the United States. All services are performed by local professionals in Texas. We don’t offshore any title-related services. We firmly believe this helps us to deliver excellence to our customers. While we successfully compete nationwide alongside Fortune 500 companies, we are proud to be a Dallas-based and family-owned business. What are the company’s future growth plans? Capital Title-Commercial is in the process of expanding our Shaddock National Holdings platform into a national title company with operations in every major market in the United States. We have recently purchased four large title operations outside of Texas which give us the ability to close deals on a nationwide basis.

BILL SHADDOCK is the owner/CEO of Capital Title-Commercial and Shaddock National Holdings. He is the owner and chairman of the board of First National Title Insurance Company, which is the ninth-largest title insurance underwriter in the U.S. Shaddock is also chairman of the board of Willow Bend Mortgage Company and a partner in Shaddock Development Company. In addition to his professional accomplishments, Shaddock has earned numerous business and humanitarian awards for his business acumen and selfless work for the Dallas community.

DCEOMAGAZINE.COM

2/3/21 4:20 PM

TRUSTED. NATIONWIDE. EXCELLENCE. DFW Commercial Offices

Corporate 2400 Dallas Parkway | Suite 560 Plano, Texas 75093 972-682-2700

Preston Center 8333 Douglas Avenue | Suite 1525 Dallas, Texas 75225 214-396-9222

Galleria 13155 Noel Road | Suite 710 Dallas, Texas 75240 972-355-2055

Park Cities 8222 Douglas Avenue | Suite 570 Dallas, Texas 75225 214-265-7979

Uptown 3333 Lee Parkway | Suite 210 Dallas, Texas 75219 972-919-3000

National Commercial Services 4851 Lyndon B. Johnson Fwy | Suite 1100 Dallas, Texas 75244 214-919-3030

Downtown Fort Worth 301 Commerce St., | Suite 200 Fort Worth, Texas 76102 817-992-6609

COMMERCIAL

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The Largest Independent Title Company in the United States

www.capitaltitlecommercial.com

2/3/21 1:13 PM

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POWER BROKERS 2021

The Top Commercial Real Estate Professionals in Dallas-Fort Worth CO M M E R C I A L R E A L E STATE I S A H U G E E CO NO M I C D RI VER I N T EXAS,

contributing $20.6 billion to the state’s economy in 2020, according to the National Association of Industrial and Office Parks. A sizable chunk of that activity happened in Dallas-Fort Worth, one of the top markets in the nation. Each year, D CEO recognizes the region’s top brokers by asking the leaders of area real estate firms to tell us who generates the most revenue for their companies. This year, 92 firms employing 2,243 licensed brokers participated in our study, with data based on 2020 production numbers. Members of the 2021 class of D CEO Power Brokers are presented on the following pages in alphabetical order by area of specialty.

SHUTTERSTOCK

compiled by M A R I A H T E R R Y

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POWER BROKERS 2021

DATA CENTERS Brant Bernet, CBRE Chris Herrmann, CBRE Curt Holcomb, JLL Bryan Loewen, Newmark Michael Rareshide, Site Selection Group INDUSTRIAL PROJECT LEASING Scott Axelrod, Henry S. Miller Co. Josh Barnes, Holt Lunsford Commercial Wilson Brown, CBRE Steven Burris, Capstone Commercial Matt Carthey, Holt Lunsford Commercial Forrest Cook, Stream Realty Partners Stephen Cooper, NAI Robert Lynn Luke Davis, Stream Realty Partners Matt Dornak, Stream Realty Partners Matt Elliott, NAI Robert Lynn Jason Finch, Bradford Commercial Real Estate Services Andrew Gilbert, Holt Lunsford Commercial Reid Goetz, Hillwood John Gorman, Holt Lunsford Commercial Adam Graham, Lee & Associates Kurt Griffin, Cushman & Wakefield Nancy Halliday, Henry S. Miller Co. John Hendricks, CBRE Matt Hyman, Duke Realty Craig Jones, JLL Elizabeth Jones, JLL Kacy Jones, CBRE Steve Koldyke, CBRE Seth Koschak, Stream Realty Partners David Martin, Capstone Commercial Rick Medinis, NAI Robert Lynn J. Scott Moore, CBRE Greg Nelson, Paladin Partners Nathan Orbin, Cushman & Wakefield Sarah Ozanne, Stream Realty Partners Brian Pafford, Bradford Commercial Real Estate Services Larry Robbins, Capstone Commercial Joe Santaularia, Bradford Commercial Real Estate Services Canon Shoults, Holt Lunsford Commercial Michael Spain, Bradford Commercial Real Estate Services Nick Talley, Bradford Commercial Real Estate Services Randy Touchstone, JLL Steve Trese, CBRE Ben Wallace, Holt Lunsford Commercial Ken Wesson, Lee & Associates Stephen Williamson, Lee & Associates Brock Wilson, Bradford Commercial Real Estate Services

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INDUSTRIAL TENANT REP Chad Albert, NAI Robert Lynn Reid Bassinger, Lee & Associates Josh Bays, Site Selection Group Randy Blankenship, Biel Partners Ryan Boozer, Stream Realty Partners Keenan Cook, Mercer Co. Eric Crutchfield, Stream Realty Partners J. Holmes Davis IV, Binswanger Tyson Erwin, NAI Robert Lynn Adam Faulk, Newmark Trey Fricke, Lee & Associates Brian Gilchrist, CBRE Jeff Givens, Transwestern Garrett Goldstein, Rich Young Co. Andy Goldston, Citadel Partners Allen Gump, Colliers International Michael Haggar, JLL Shawn Hall, TenantBase Todd Hawpe, Transwestern Jim Hazard, ESRP Real Estate Corby Hodgkiss, Mercer Co. Melissa Holland, JLL Todd Hubbard, NAI Robert Lynn Scott Jessen, Citadel Partners Seth Kelly, CBRE Jordan Ketchens, Rubicon Representation Greg Lance, Cushman & Wakefield Nathan Lawrence, CBRE Huntley Luna, Henry S. Miller Co. Conrad Madsen, Paladin Partners Chris Mason, Newmark Tom McCarthy, JLL Mike McElwee, Avison Young Jeff Mercer, Mercer Co. Jeremy Mercer, Mercer Co. Chase Miller, NAI Robert Lynn Mark Miller, NAI Robert Lynn Michael Newsome, NAI Robert Lynn Louis Pascuzzi, Newmark Tom Pearson, Colliers International Krista Raymond, CBRE Ward Richmond, Colliers International Travis Sapaugh, CBRE Jade Scott, Whitebox Real Estate Vann Shank, TenantBase Dan Spika, Henry S. Miller Co. Michael Stanzel, NAI Robert Lynn Brad Struck, ESRP Real Estate Chris Teesdale, Colliers International Tim Vogds, CBRE

Tom Walrich, Lee & Associates David Walters, CBRE Allyson Yost, Colliers International Rich Young Jr., Rich Young Co. LAND & COMMERCIAL PROPERTY SALES Adam Abushagur, Marcus & Millichap Mark Allen, Greystone John Alvarado, Newmark Tiffany Angelle, Colliers International Matt Aslan, Marcus & Millichap Randy Baird, CBRE Daniel Baker, CBRE Will Balthrope, Marcus & Millichap Doug Banerjee, Greysteel Bill Behr, Transwestern Randy Bell, Real Capital Investments John Bielamowicz, Biel Partners Bill Bledsoe, Henry S. Miller Co. Jonathan Bryan, CBRE Tom Burns, Berkadia Gary Carr, Newmark Tom Clarke, Transwestern Jud Clements, Cushman & Wakefield Dillon Cook, Range Realty Advisors Robert Denninger, Marcus & Millichap Lynn Dowdle, Dowdle Real Estate Lucy Durbin, CBRE Cooper Eddy, Wicker & Associates Jeremy Faltys, CBRE Scot Farber, Younger Partners Geoff Ficke, Colliers International Jaclyn Fitts, CBRE Nick Fluellen, Marcus & Millichap Todd Franks, Greystone Chris Gainey, Marcus & Millichap Chris Gomes, Marcus & Millichap Pamela Goodwin, Goodwin Commercial Tom Grunnah, Younger Partners Jay Gunn, Berkadia Mike Hardage, Transwestern Ron Hebert, Marcus & Millichap Robert Hill, Newmark Taylor Hill, Berkadia David Hinson, Younger Partners Bard Hoover, Marcus & Millichap Tom Hudson, Hudson Peters Commercial Russell Ingrum, CBRE William Jarnagin, Berkadia Randy Jay, Preston Bend Commercial Real Estate Jamie Jennings, Stream Realty Partners DCEOMAGAZINE.COM

2/8/21 12:14 PM

Dallas’ creative class has a new home. A QUADRANT INVESTMENT PROPERTIES DESIGN DISTRICT OPPORTUNITY NOW LEASING 1,800 – 14,000 SF

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POWER BROKERS 2021

Farhan Kabani, Marcus & Millichap Jim Kelley, Champions DFW Commercial Realty Kevin Kelly, CBRE Maureen Kelly Cooper, Cushman & Wakefield Drew Kile, Marcus & Millichap William Kim, Marcus & Millichap Vince Knipp, Marcus & Millichap Lane Kommer, Henry S. Miller Co. Scott Lake, DB Urban Chad Lavender, Newmark Jim Leatherwood, Silver Oak Commercial Realty Philip Levy, Marcus & Millichap Eddie Liebman, Weitzman Ryan Maconachy, Newmark Ben McCutchin, Younger Partners Mike McDonald, Cushman & Wakefield John McGregor, Marcus & Millichap Todd McNeill, Marcus & Millichap Jake Milner, DB Urban Brian Murphy, Newmark Chris Murphy, Newmark Jonathan Napper, Cushman & Wakefield Chibuzor Nnaji, Greystone Brian O’Boyle Jr., Newmark Matthew Otte, Whitebox Real Estate Kim Parker Schwimmer, Dynamic Commercial Real Estate Nicole Patel, Marcus & Millichap Alex Perry, Biel Partners Bill Pyle, EDGE Realty Partners Jerad Rector, Worldwide Commercial Kenneth E. Reimer, Venture Commercial Robby Rieke, Cushman & Wakefield Matthew Rosenfeld, Weitzman Sunny Sajnani, Marcus & Millichap Casey Schaefer, CBRE Steve Shrum, Glacier Commercial Realty Al Silva, Marcus & Millichap David Sours, CBRE John St. Clair, Younger Partners Wilson Stafford, EDGE Realty Partners Creighton Stark, Colliers International Tom Sterquell, Range Realty Advisors Jack Stone, Greysteel Tom Strohbehn, Younger Partners Ryan Thornton, CBRE Matt Troutt, Altschuler and Co. Tommy Tucker, SHOP Cos. Joey Tumminello, Marcus & Millichap William Vonderfecht, CBRE Will Walters, DuWest Realty Michael Ware, Berkadia 096

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Bart Wickard, Newmark Calvin Wong, ENGVEST Commercial David Zoller, Weitzman OFFICE PROJECT LEASING Steve Aldrich, Hillwood Trae Anderson, Younger Partners Ben Appleby, Dogwood Commercial Chris Axley, Lincoln Property Co. Dennis Barnes, CBRE Eric Blais, Bradford Commercial Real Estate Services Paul Blight, Glacier Commercial Realty Rachel Boelter, Hudson Peters Commercial T.D. Briggs, JLL Bill Brokaw, Hillwood John Brownlee, JLL Bob Buell, Fults Commercial Real Estate Austin Busse, Dogwood Commercial Kim Butler, HALL Group Debi Carter, Capstone Commercial Bill Cawley, Cawley Partners Tony Click, Crescent Real Estate Cynthia Cowen, HALL Group Ashely Curry, JLL Sean Dalton, Younger Partners Ben Davis, CBRE Chris Doggett, JLL Jeremy Duggins, Cawley Partners Nathan Durham, Transwestern James Esquivel, JLL Trevor Franke, JLL J. Tracy Fults, Fults Commercial Real Estate Brad Gibson, HALL Group Clay Gilbert, CBRE Eric Goodwin, Champions DFW Commercial Realty Ruth Griggs, Thirty-Four Commercial Duane Henley, Transwestern Burson Holman, Granite Properties Barbara Houlihan, JLL JP Humphrey III, Advisors Commercial Real Estate Bryce Jackson, Thirty-Four Commercial Robert Jimenez, Granite Properties Russ Johnson, JLL Allison Johnston Frizzo, Gaedeke Group Doug Jones, Cushman & Wakefield Whit Kelly, Transwestern Tabitha Layne, Sunwest Real Estate Group Marijke Lantz, Billingsley Co. Addie Ludwig, Cawley Partners Holden Lunsford, Holt Lunsford Commercial Clint Madison, Cushman & Wakefield

Sam Meginnis, Altschuler and Co. Justin Miller, Transwestern Aarica Mims, Granite Properties Travis Moore, Dogwood Commercial Kathy Permenter, Younger Partners Debra Perryman, Silver Oak Commercial Realty Elliot Prieur, Gaedeke Group Joel Pustmueller, JLL Gini Rounsaville, JLL Matt Schendle, Cushman & Wakefield Chuck Sellers, Avison Young Geoff Shelton, Holt Lunsford Commercial Blake Shipley, JLL Jerrod Simmons, Biel Partners Grant Sumner, Avison Young Chris Taylor, Cushman & Wakefield Hannah Waidmann, Harwood International Kelly Whaley, Harwood International Matt Wieser, Stream Realty Partners Worthey Wiles, Lincoln Property Co. Michael Williams, JLL Jeff Wood, JLL Chris Wright, JLL Jake Young, Lincoln Property Co. John Zogg, Crescent Real Estate OFFICE TENANT REP Matt Albritton, TenantBase Baron Aldrine, CBRE Cribb Altman, JLL Susan Arledge, ESRP Real Estate Brooke Armstrong, JLL Robbie Baty, Cushman & Wakefield John Beach, Newmark Eric Beichler, Mohr Partners Robert Blount, JLL Jim Buddrus, Swearingen Realty Group Jordan Buis, CBRE Scott Bumpas, Cresa Dallas Jerry Cobb, Jr., CBRE Alex Coe, Cresa Dallas Michael Collins, MedCore Partners James C. Cooksey, Newmark Matt Craft, Lincoln Property Co. Peter Danna, CBRE Harlan Davis, CBRE Larry Denisoff, Weitzman David Ditchman, Cresa Dallas Jeff Ellerman, CBRE John Ellerman, CBRE Matt Flory, Ryan and Bell Realty Partners DCEOMAGAZINE.COM

2/8/21 12:14 PM

Back to Business at

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2/8/21 1:31 PM

POWER BROKERS 2021

Emmitt Smith, E. Smith Advisors Jeff Smith, Transwestern Kent Smith, NAI Robert Lynn Eliza Solender, Solender/Hall Andrew Taguwa, JLL Cameron Tapley, Swearingen Realty Group Hyatt Thompson, Swearingen Realty Group Tamela Thornton, E. Smith Advisors JR Tomlinson, Newmark Billy Vahrenkamp, Colliers International Howard Watkins, Transwestern Seth Weinstein, Newmark Jordan White, Site Selection Group Josh White, CBRE King White, Site Selection Group Warren Willey, CBRE Corey Wiskow, Ryan and Bell Realty Partners John Wolf, Newmark Mitch Wolff, Newmark Peery Wood, CBRE

Fiona Forkner, JLL Sharon Friedberg, Fischer & Co. Lawrence Gardner, OMS Strategic Advisors Ben Goldthorpe, Swearingen Realty Group Jim Graham, Newmark Michael Griffin, Transwestern Scott Hage, JLL Alan Harrington, Transwestern Will Haynes, Colliers International Bret Hefton, JLL Matt Heidelbaugh, Cushman & Wakefield Stephen Hemphill, Mohr Partners Campbell Henry, Lincoln Property Co. Drew Jacoy, TenantBase Granville Jenkins, Swearingen Realty Group Kelley Kackley, JLL Mike Kay, CBRE Gianni R. LaBarba, Vestian Global Greg Langston, Avison Young Andy Leatherman, JLL Nick Lee, NAI Robert Lynn Kyle Libby, MedCore Partners Curt Linn, Avison Young Torrey Littlejohn, JLL Esmeralda Martinez, Lincoln Property Co. Conor McCarthy, JLL Stephen McCoy, Transwestern Jeremy McGown, JLL Jon McNeil, JLL Bob Mohr, Mohr Partners Jim Montgomery, Swearingen Realty Group Christopher Morrow, Morrow Hill Scott Morse, Citadel Partners Jeff Pappas, ESRP Real Estate Dan Paterson, Swearingen Realty Group Hal Penchan, Altschuler and Co. Al Piniagua, Swearingen Realty Group Rob Pipkin, Mohr Partners Dan Polanchyck, Henry S. Miller Co. Grant Pruitt, Whitebox Real Estate Sam Pruitt, Site Selection Group Phil Puckett, CBRE Terry Quinn, Avison Young Steve Rigby, CBRE Damian Rivera, ESRP Real Estate Bob Robbins, Banner Commercial Mike Sandel, Henry S. Miller Co. Chelby Sanders, CBRE Brad Selner, JLL John Shaunfield, Newmark Chris Sido, CBRE 098

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RETAIL David Adams, The Woodmont Co. Derek Anthony, The Woodmont Co. John Bishop, Matthews Real Estate Investment Services Greg Blandford, Venture Commercial Greg Bracchi, Edge Realty Partners Frank Bullock, Henry S. Miller Co. Jake Burns, Structure Commercial James Cagle, Inroads Realty Mike Cagle, Inroads Realty Michelle Caplan, Weitzman Jay Ceitlin, SHOP Cos. Jordan Cluff, DuWest Realty Taylor Cluff, DuWest Realty Mark Cohen, CenterPoint Commercial Properties David Copeland, Edge Realty Partners Alex Dawkins, SRS Real Estate Partners John Day, Venture Commercial Eric Deuillet, Structure Commercial David Disney, Disney Investment Group Jake Dutson, STRIVE Bryan Dyer, The Woodmont Co. Daniel Eng, ENGVEST Commercial David English, Ridge Pointe Commercial Real Estate Steve Ewing, Edge Realty Partners Chris Flesner, Resolut RE Jennifer Frank, Segovia Partners Rob Franks, JLL Mike Geisler, Venture Commercial Thomas Glendenning, SHOP Cos.

Adam Gottschalk, STRIVE Steve Gray, Advisors Commercial Real Estate Dawn Greiner, SRS Real Estate Partners Tyler Grisham, Edge Realty Partners Andrew Gross, Matthews Real Estate Investment Services Alden Harris, SHOP Cos. Darrell Hernandez, CBRE Jackson Hill, Fischer & Co. Jonathan Hill, Morrow Hill Ryan Johnson, SRS Real Estate Partners Joey Keffler, Weitzman Taylor LeMaster, Inroads Realty Larry Leon, Venture Commercial Steven A. Lieberman, The Retail Connection Jake McCoy, The Woodmont Co. Jon McDaniel, NAI Robert Lynn Megan McNulty, TenantBase Danny McQuaid, Matthews Real Estate Investment Services Will Merritt, STRIVE Mark Miller, Hillwood Bob Moorhead, Secure Net Lease Troy Morgan, Structure Commercial Luke Mullen, Brand Capital Partners Scott Muller, CBRE Mark Newman, JLL Jennifer Pierson, STRIVE Amy Pjetrovic, Venture Commercial Pete Podesta, SHOP Cos. Anthony Pucciarello, Secure Net Lease Sam Rhea, Hillwood Scott Rodgers, DuWest Realty Kornel Romada, Segovia Partners Kyle Rozell, STRIVE Brettany Schovanec, Fischer & Co. David Schnitzer, ASCEND Commercial Real Estate Brian Sladek, Resolut RE Russell Smith, Secure Net Lease Warren Smith, EDGE Realty Partners Austin Speni, JLL Jamie Streeter, The Retail Connection Terry Syler, The Retail Connection Alex Tower, Secure Net Lease Paul Vernon, Henry S. Miller Co. Nick Virani, CenterPoint Commercial Properties Jason Vitorino, STRIVE Easley B. Waggoner Jr., Venture Commercial Jack Weir, The Retail Connection Jim Weir, The Retail Connection Amanda T. Welles, Venture Commercial Carlie Wilmes, Fischer & Co. Luke Wilson, The Retail Connection DCEOMAGAZINE.COM

2/5/21 11:05 AM

A Dallas Legacy STEPS AWAY FROM A WORLD OF AMENITIES

500 N. AKARD ST ROSSTOWER.COM 214-954-3300

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END MARK

EARLY ABODE

The Man Who Named Dallas J O H N N E E LY B R YA N Dec. 24, 1810–Sept. 8, 1877

story by WILL MADDOX

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rader, lawyer, farmer, and pioneer john neely bryan first visited what he would later name Dallas in 1839. He returned two years later to settle on the Trinity River’s east bank, convincing several families at Bird’s Fort to the west to join him—and marrying the daughter of one of those families, Margaret Beeman. The pioneer served as postmaster general for the Republic of Texas and operated a ferry where Commerce Street now crosses the Trinity. He began to struggle with alcoholism, though, and sold his land and fled Texas in 1855 after he shot a man for insulting his wife. Bryan fought in the Civil War but was discharged for his advanced age and declining health. He returned to Dallas in 1862 and regained respectability in the city he founded. After a decade or so, however, his mental health began to falter. Bryan’s son, Edward, testified at his father’s lunacy hearing in 1877 that “He sometimes tries to burn up his bedclothes and tries to get away, says this is not his home, and tries to get through the walls of the house.” The founder of Dallas spent his final years in Austin in what was then known as the State Lunatic Asylum.

FROM THE COLLECTIONS OF THE D A L L A S H I S T O R Y & A R C H I V E S D I V I S I O N , D A L L A S P U B L I C L I B R A R Y

Below, Margaret Beeman stands in front of a cabin built in the 1840s by her husband, John Neely Bryan. At left, visitors take in a replica of the cabin, constructed in the 1930s at Founder’s Plaza in downtown Dallas.

DCEOMAGAZINE.COM

1/27/21 11:01 AM