Category: News

Bisnow reports that the US economy added 160,000 jobs in April. That’s according to the Department of Labor’s jobs report, making April the weakest hiring month since September 2015—and flying in the face of Bloomberg and Wall Street Journal surveys of top economists who on average expected 200,000 and 205,000 jobs added, respectively. Given the poor employment showing, Bisnow sat down with top economists for their take on the odds of a June Fed rate hike.

Bisnow’s slideshow shares the debts here.

By Younger Partners Property Services President Greg Grainger

Zig Ziglar has often said, “It’s impossible to consistently behave in a manner inconsistent with how we see ourselves. We can do very few things in a positive way if we feel negative about ourselves.” Ziglar has a very practical, common-sense wisdom that he has shared with people for years. Nathaniel Branden, a psychotherapist and expert on the subject of self-esteem, says nothing is more important in people’s psychological development and motivation than the value judgments they make about themselves. Every aspect of their lives is impacted by the way they see themselves, Branden adds.

John Maxwell, who is well-known for teaching the Law of the Lid from The 21 Irrefutable Laws of Leadership suggests that you imagine that you want to do something great in your life that impacts a lot of people. Perhaps you want to build a large organization. That desire, no matter how great, will be limited by your leadership. It is a lid on your potential. Well, your self-esteem has the same kind of impact. If your desire is a 10 but your self-esteem is a 5, you’ll never perform at the level of a 10. You’ll perform as a 5 or lower.

We need to understand that the value we place on ourselves is usually the value others place on us, too. One of my favorite stories is about a man who went to a fortune-teller to hear what she had to say about his future. She looked into a crystal ball and said, “You will be poor and unhappy until you are 45 years old.”

“Then what will happen?” asked the man hopefully.

“Then you’ll get used to it.”

It is sad that most people live their lives that way – according to what others believe about them. If the important people in their lives expect them to go nowhere, then that’s what they expect for themselves. That’s fine if you’re surrounded by people who believe in you. But what if you’re not? You shouldn’t become too concerned about what others might think of you. You should be more concerned about what you think of yourself. If you want to become the person you have the potential to be, you must believe you can!

To build self-esteem, apply the following suggestions.

1. Guard your self-talk. 

Whether you know it or not, you have a running conversation with yourself all the time. What is the nature of yours? Do you encourage yourself? Or do you criticize yourself? If you are positive, then you help to create a positive self-image. If you’re negative, you undermine your self-worth. Where does negative, critical self-talk come from? Usually from our upbringing. In their book The Answer, businessmen-authors John Assaraf and Murray Smith talk about the negative messages children receive growing up. They write, by the time you’re 17 years old, you’ve heard “No, you can’t” an average of 150,000 times. You’ve heard “Yes, you can” 5,000 times. That’s 30 no’s for every yes, creating a powerful belief of “I can’t.”

That’s a lot to overcome. If we want to change our lives, we have to change the way we think of ourselves. If we want to change the way we think of ourselves, we need to change the way we talk to ourselves. And the older we are, the more responsible we are for how we think, talk and believe. Don’t you have enough problems in life already? Why add to them by discouraging yourself every day with negative self-talk?

You need to learn to become your own encourager, your own cheerleader. Every time you do a good job, don’t just let it pass; give yourself a compliment. Every time you choose discipline over indulgence, don’t tell yourself that you should have anyway; recognize how much you are helping yourself. Every time you make a mistake, don’t bring up everything that’s wrong with yourself; tell yourself that you’re paying the price for growth and that you will learn to do better next time. Every positive thing you can say to yourself will help.

2. Stop comparing yourself to others. 

When I started my career, I looked forward to my organization’s annual report, which showed statistics for each leader. I’d immediately check my standing and compare my progress with the progress of the other leaders. After about five years of doing that, I realized how harmful it was. What happens when you compare yourself to others? Usually you either perceive the other person to be far ahead of you and you feel discouraged, or you perceive yourself to be better than the other person and become proud. Neither is good for you, and neither will help you to grow.

Comparing yourself to others is a needless distraction. The only one you should compare yourself to is you. Your mission is to become better today than you were yesterday. You do that by focusing on what you can do today to improve and grow. Do that enough, and if you look back and compare the you of weeks, months or years ago to the you of today, you should be greatly encouraged by your progress.

3. Move beyond your limiting beliefs. 

I love the old comic strip Shoe by Jeff MacNelly. In one of my favorites, Shoe is pitching in a baseball game. In a conference on the mound, his catcher says, “You’ve got to have faith in your curveball.”

“It’s easy for him to say,” grumbles Shoe. “When it comes to believing in myself, I’m an agnostic.”

Unfortunately, that’s the way a lot of people think about themselves. They don’t believe they can accomplish great things. But the greatest limitations people experience on their lives are usually the ones they impose upon themselves. As industrialist Charles Schwab said, “When a man has put a limit on what he will do, he has put a limit on what he can do.” 

4. Add value to others. 

Because people with low self-esteem often see themselves as inadequate or feel like victims (which often starts because they actually have been victimized in their past), they focus inordinately on themselves. They can become self-protective and selfish because they feel that they have to be to survive.

If that is true of you, then you can combat those feelings by serving others and working to add value to them. Making a difference—even a small one—in the lives of other people lifts one’s self-esteem. It’s hard to feel bad about yourself when you’re doing something good for someone else. In addition to that, adding value to others makes them value you more. It creates a cycle of positive feeling from one person to another.

Memorial Day is more than just a day to barbecue and celebrate a day off work, but many people struggle to even know the difference between Memorial Day and Veterans Day. Learn more below about Memorial Day history and the military, law enforcement, firefighters and rescue personnel we support. Do you have 60 seconds to learn more? Sure you do. Watch this. 

You can contribute to Younger Partners’ $2,000 goal here.

We’re always looking for ways to improve efficiency and Sarah Chang at The Muse came up with a list of some out-of-the-box suggestions. Here’s a a few:

• Sort your email with a new tactic: Next, next, next.
• Use social media to increase work output. (seriously)
• Laugh more. Really, Forbes says so.

What works for you?

Steve Brown of the Dallas Morning News has some big news: Dallas office building rents have for the first time topped the $50-per-square-foot mark.

That’s what developers are asking for choice business digs in new buildings on the way in Big D’s booming Uptown market.

“Based on recent proposals, rents continue to skyrocket in these premier, existing assets — and are now coming in at around $52 per square foot,” said Walter Bialas, vice president with commercial real estate firm JLL. “We must emphasize that these existing buildings are not run-of-the-mill class A properties — they are the premiere players in the submarket.

“They also are essentially full in terms of occupancy, so limited space options exist,” he said in a new report. “Combine that with the need to wait for 6 to 18 months for the new properties to be completed, and you have a unique situation where existing tenants and renewing tenants have few top-tier location options.”

The sky-high office rents being quoted in some of Uptown’s newest office developments are about twice the citywide average. Those rents are more than $20 per square foot higher than the average downtown and in the Legacy-Frisco market in Collin County.

Since 2011, office rents in Uptown’s prime buildings have shot up by almost 30 percent, according to JLL.

Some of the the city’s largest legal and accounting firms have made the move from downtown north of Klyde Warren Park to land in the newest Uptown towers.

So far there’s no sign of oversupply and a slowdown in rent growth. If anything, higher land prices are adding to the pressure on office rents in the area north of downtown Dallas.

“With a continued strong local economy for the next two plus years, there is no sign of rents plateauing in high-demand locations,” Bialas says.

While a high-water market for Dallas, rental rates in Uptown are still significantly below what first class offices go far in coastal cities including New York, San Francisco and Los Angeles.

“$50  per square foot for our new buildings is a new high, but still low compared to other major cities existing stock,” Bialas said.

On Feb 29, Younger Partners expanded the team to include long-time Bisnow reporter Tonie Auer. She will be responsible for the social media and expanding YP’s brand awareness.

Last night, Dowdle Real Estate’s Lynn Dowdle & E Smith Realty’s Susan Arledge set up a welcome celebration at Sevy’s for Tonie as she transitions to the other side of the CRE world.

Here’s just a few pics from the festivities.

Tonie & Kathy Permenter

Tonie & Moody Younger

Back row: Younger Partners’ Lacey Queen, Garrett Marler, Trae Anderson. Front row: Tonie & Colliers’ Lindsay Wolcott

Dowdle Real Estate’s Lynn Dowdle, The Trocchio Advantage’s Liz Trocchio, Tonie & Hudson Peter’s Cincha Kostman.

Just a reminder that we’re shooting for a team goal of raising $2,000 to help Carry the Load, which strives to protect the true meaning of Memorial Day. It isn’t just about a day off from work and cook-outs. It’s about restoring the true meaning of Memorial Day with a 2,000 mile national walk and local community events. Help us by making a contribution here.

We love making deals and helping our clients. Candace Carlisle and the Dallas Business Journal spotlighted one of our big wins here.

Landing Milwaukee-based heating and air conditioning giant Johnson Controls Inc. (NYSE: JCI) wasn’t easy, but the landlord and leasing team were able to make some in-house adjustments and help the company’s North Texas expansion.

The team — Denver-based DCT Industrial and Dallas-based Younger Partners — had to shuffle around some of the tenants at 1615 Diplomat Drive in Carrollton (pictured below) to make way for Johnson Controls, which also leases an adjacent facility.

DCT Industrial’s Art Barkley said the landlord and development firm said another company in the building wanted to give up some space in the building and the move made sense.

“We strive to accommodate our customer’s every-evolving supply chain,” said Barkley, a senior vice president at DCT Industrial.

With that, Johnson Controls signed a lease for 55,000 square feet of space at the Carrollton facility, which sits in a central part of the region and helps the company move product from Fort Worth to Garland.

CBRE’s Jeremy Halbeck represented Johnson Controls in its real estate search. Younger Partners’ Carter Crow and JT Samford represented DCT Industrial in the real estate negotiations.

Crow, a real estate broker with Younger Partners, said the company could’ve gone to any landlord, but selected DCT Industrial because of the firm’s reputation.

“The space and location were great, but the landlord and owner makes a big difference,” he said. “A good landlord saves tenants a lot of headaches and knowing that DCT is a long-term holder is also reassuring.”

Meanwhile, DCT Industrial has two other new industrial projects underway in North Texas. They include:

• A 107,000-square-foot industrial facility, called DCT Freeport West, at 1204 W. Bethel Road (rendered above) that is slated for completion in the third quarter

• A 347,000-square-foot distribution center, called DCT Waters Ridge, at 514 Bennett Lane (rendered above) in Lewisville that is expected to be complete in the third quarter

Barkley said DCT Industrial is bullish on the economic outlook of North Texas and expects to continue landing leases like Johnson Controls.

The company owns interest in 5.52 million square feet in the Dallas-Fort Worth.

“Dallas has been one of the great job growth stories in the past 20 years and we don’t expect that to change,” he said.

Make no mistake, successful people often share the same traits and practices. Younger Partners Property Services President Greg Grainger says he’s learned five mistakes that successful people avoid doing from bestselling author and KPI and Big Data guru (clearly a great title to have) Bernard Marr. Here they are under Greg’s smiling mug:

Mistake 1. Avoid responsibility – “The price of greatness is responsibility.” –Winston Churchill

One of the first things you will notice that successful people don’t have is a blaming or victim mentality. When things go wrong, what is your first response? Successful people won’t say, “I couldn’t succeed because of X, Y, and Z” or “It’s actually this person’s fault.” They’re much more likely to own a mistake rather than blame others for their failure or misfortune. I believe the key here is that by owning a mistake, we are more likely to learn from it and much less likely to repeat it.

Mistake 2. Procrastinate – “Procrastination is the bad habit of putting off until the day after tomorrow what should have been done the day before yesterday.” ~Napoleon Hill

Successful people tend to take action, regardless of whether it is the “perfect” time or not. When Gutenberg invented the printing press, the literacy rate was almost nonexistent—not exactly perfect market conditions for mass producing books. And no one knew they needed a “smart” phone until Apple invented one. Don’t wait for the perfect time to do something. Work hard and don’t give up—regardless of what might be going on around you. Success is very often the accumulation of many small achievements over a long period of time.

Mistake 3. Follow the trends – “Great things are not accomplished by those who yield to trends and fads and popular opinion”. –Jack Kerouac

Every day we produce 2.5 quintillion (1018) bytes of data. In that flood of information, it’s tempting to think that we have to jump at every new development, try every new thing. (We sometimes call it “shiny object syndrome.”) But jumping at every new thing will leave no time to develop the deep understanding that pursuing lifelong learning might. Focus your energies on understanding the root of what you hope to succeed at and ignore the rest. For example, if you hope to succeed in sales or marketing you might choose to study human psychology rather than the latest social media marketing schemes.

Mistake 4. Try to go it alone – “Life is not a solo act. It’s a huge collaboration, and we all need to assemble around us the people who care about us and support us.” –Tim Gunn

One of the most vital things successful people do is to surround themselves with other successful people. No man is an island, and having a network, a mastermind group, surround oneself with clever people can make all the difference between success and failure. This is true whether you hope to succeed at a personal goal like weight loss (studies show people lose more weight in a group than alone) or a business goal.

Mistake 5. Lack of belief

“Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.” –Norman Vincent Peale

This isn’t about positive affirmations or visualizing success, but rather, as Peale says, “a humble but reasonable confidence” that you can achieve what you set out to achieve. Think about it the other way round if you are skeptical; if you don’t believe that you can succeed, why would you even try? You must cultivate a strong belief in yourself even in the face of setbacks or adversities if you hope to ultimately be successful.

Avoiding these mistakes will help you succeed at work or a single goal or task, but to be truly successful, we also need to be happy.

U.S. employers added 160,000 jobs in April, and the unemployment rate was unchanged at 5%. Here’s a look into what we can learn by diving into the details of the monthly employment report.

Over the past year, the economy has added a total of 2.7 million jobs. This is a somewhat slower pace than was seen over the course of 2015 when the economy was adding about 3 million jobs a year.

Read the full report here.

Memorial Day is about honoring and celebrating those who have paid the ultimate sacrifice for our freedom. Join our national movement to restore the true meaning of Memorial Day.

We, at Younger Partners, are joining the cause. We’ve set up a team to raise funds and awareness. Please consider contributing to our team effort to raise $2,000 for Carry the Load. You can contribute here.

Tell us who you are celebrating this Memorial Day with #CarryTheLoad. Who are you carrying? For more information about Carry The Load, visit carrytheload.org

All stars continue to stay aligned in the DFW area.  As a result, the DFW Industrial market continues to thrive.  With steady demand, strong rental rates and lack of land availability we are seeing record setting values being paid for institutional quality assets. The lack of land in key markets is creating a barrier to entry into the DFW Industrial market, which in turn has led the institutional investor to seek out existing Class A product.

We continue to see e-commerce driving some of the larger Industrial transactions.  Amazon continues to challenge the likes of Wal-Mart as evidence of Wal-Mart‘s recent announcement of 450 employees being laid off at the company’s Bentonville, Arkansas headquarters.

Now on to the jewel of the Metroplex—the Texas Rangers clinched the AL West on the final day of the 2015 season.  Their journey to the World Series will begin when they face the Toronto Blue Jays in a 5 game series, starting in Toronto on Thursday, October 8, 2015.

Todd Jones

Just when it appeared that Texas’ oil-related woes were diminishing,  the state loses 13,700 jobs in August, tying with New York for the most jobs lost last month

Uptown building announcement boom continues. This is the 7th new building planned and announced for Uptown. If all buildings are built the total will add 2,600,000 square feet of space to the submarket. Currently there is 1,657,000 square feet of office space under construction or renovation in the Uptown submarket including the north edge of the CBD.

Developer Harwood International plans new Uptown office tower