commercial real estate
It’s been a little over a year since UCR joined forces with CBRE, a big step toward CBRE becoming the top name in retail. Fresh faces entered the mix and a new momentum has begun to build.
I sat down with our new Managing Director of Retail for the South Central United States, Daniel Taylor, to discuss the market and get to know him a bit more on a personal level.
A 16-year veteran of the industry, Taylor’s expert knowledge and fresh ideas have positively positioned the company for growth and profitability. Check out our Q&A below.
How long have you been with CBRE? Five years starting out on the CBRE side.
Why did you get into real estate? I’m a 4th generation Dallas real estate broker. Real estate is what my family talked about and still talks about at the dinner table. I never really considered any other career path. I love the thrill of the chase and working on behalf of a client aiding in their ability to reach business goals and ultimately affect their future success. I like the competition and the entrepreneurial aspect of retail real estate, and I enjoy interacting with the people in this industry.
What do you like most about working for CBRE? I love the people I work with. They are incredibly hardworking group of people and I’m lucky to be surrounded by such a talented group of professionals. I also appreciate the company’s current focus and commitment to the retail division. In the past, other divisions have required sizeable resources. CBRE has really gotten behind retail by investing money, technology, talent, etc. to ensure our success.
Where do you see retail heading in the future? I see consolidation amongst brokerage firms and omni-channel becoming a much bigger part of the retail spectrum. Urban street and retail environments are gaining more traction as opposed to suburban lifestyle centers, and large boxes will continue to right size. Class A fortress malls will remain strong due to high barriers of entry, but Class B- and C malls will continue to struggle.
What is your vision for CBRE retail moving forward? The company is strongly focusing on retail with a plan in place to aggressively grow our platform and brand. Additionally, we’re lucky to be in the market we’re in. Texas is consistently in the news, making headlines for its healthy economy and strong real estate market. We had a tremendous 2015 and anticipate an even better 2016 with the new resources CBRE is investing in for our retail division.
What does the DFW retail market look like currently/for the rest of 2016? The market is still strong. We’re still seeing new development but it’s tenant-driven versus spec. The companies moving to the area are spurring new residential development, which drives retail growth. The market should remain steady throughout 2016 and into early 2017, however the effects of this year’s election are unpredictable.
What about the region? We are carefully watching the price of oil and how it’s affecting Houston and Oklahoma, but Austin and Dallas continue to be on fire.
What is your greatest accomplishment thus far in the industry? Marrying my wife. She was an office broker when we worked together at The Staubach Company. My second greatest accomplishment was working on the Verizon account for 15 years. I started with them when they were occupying 2,500 SF in grocery centers and had only 6 different phones. Today, I manage the account in 4 states; they have doubled their size and moved into freestanding buildings; and now have more than 40 different types of devices. I’m also proud of bringing In-N-Out Burger to Texas.
What advice would you give someone starting out in the industry? Find a mentor. Work hard early in your career because the long hours you spend now will pay off later. Always be honest with your clients, even if it hurts. It’s easy to throw out half-truths to clients on a particular deal, but you will build a respectful, trustworthy reputation through transparency.
How do you spend your free time? Right now, my two little boys and my wife take up my free time, which I love. I also enjoy playing golf, basketball or fishing with friends.
What is your favorite restaurant? Javier’s. The Filete Cantinflas with the cheese in the center is my favorite. I can’t resist the chips and butter either.
What is something about yourself that people would be surprised by? I’m kind of a homebody and seem to turn into a pumpkin around 10 p.m. Well, maybe that might not surprise so many people.
Those who know Jack Gosnell and his passion to revitalize downtown Dallas will not be surprised to learn that he has been named a finalist for the Stemmons Service Award. Considered one of the highest honors in commercial real estate in DFW, the Stemmons Award is given by NTCAR (North Texas Commercial Association of Realtors and Real Estate Professionals).
Jack, a senior vice president with CBRE, has spent the last 40+ years negotiating some of the biggest commercial real estate deals in Dallas. It seems only fitting that he would be considered for this prestigious award, which is given to the professional who has earned the respect of his or her peers, and is an active and productive broker who successfully resolves the intricacies of bringing two parties together in a real estate transaction. Jack does all of these things and more for the real estate market in Dallas.
Jack has been nominated for this award because of his tireless dedication to his clients, his colleagues and the city of Dallas. With a genuine passion for his work and a drive to redevelop downtown and revitalize the retail scene there, Jack embodies the ideals of the award. After being named D CEO’s 2014 Commercial Real Estate Retail Broker of the Year, winning the Stemmons Award would be another well-deserved milestone in Jack’s successful career.
We heard from a number of industry professionals who agree that Jack is an ideal candidate for this special honor:
I first met Jack Gosnell when he was my father’s right-hand man some 40 years ago. Jack knows the real estate business as well as anyone in the business, and he continues to conduct himself with the integrity and expertise that he learned from my father. Jack also has the same wry sense of humor that my father had. Anyone who has worked with Jack knows what a pleasure and just plain fun it is to be associated with him. I am proud to be able to call Jack Gosnell my friend.— Jackie Stewart, President, Henry S. Miller Interests, Inc.
Jack is an expert in his craft. He speaks from the heart and his absolute passion for what he does is infectious. Jack’s approach to the urban core is beyond business—it’s a science. He has taught me not just how to be a better broker, but how to be a better thinker. It has been a great honor to work with Jack. I am tremendously lucky to have had the opportunity to work on his team and have him as my mentor. His kindness, sincerity, and creativity are unparalleled.— Sasha Levine, Sales Assistant, CBRE
I have known Jack Gosnell since I was a lowly college intern in 1976, and Jack took an interest in me and helped me begin my real estate career. And for the last 40 years, Jack has become a mentor, a colleague and a friend. Jack is one of those real estate professionals who has the ability to bring interesting and passionate people together in complex real estate transactions. Jack also has the intuitive sense of what makes a great retail project, and in turn, why we need great retail projects to become the fabric of a great city. Throughout his career, Jack has demonstrated the highest standards of the real estate profession, and as the consummate professional with his artistic sense, he has helped create some of the most unique and important real estate developments in our city.— Philip Wise, Founding Partner, Cienda Partners
I know or have known most of the past Stemmons Award winners and I truly believe Jack Gosnell’s rare soul and sophistication actually improve this noteworthy band of brokers who have won the award. His ability to communicate is distinctive and refreshingly authentic and his results as strategic producer prove it. He is a gracious giver of time and is a truly great spokesman for the UCR brand, now proudly CBRE.”— Mickey Ashmore, Vice Chairman, CBRE
Jack is one of those guys who is truly passionate about their business. His involvement in Oak Lawn, Uptown and Downtown retail has really shaped the retail landscape of these submarkets.— Brian Murphy, Managing Principal, EDGE Realty Partners
Every day is a new adventure working with Jack Gosnell. From hearing reports of him being seen driving down McKinney Avenue with his briefcase on top of his car, getting stuck on a rooftop with a prospective tenant, or sitting in the basement of a vacant building late at night while Gary Busey played his guitar to test out the acoustics, the days are never dull. Jack is a very caring, patient, gracious, generous, entertaining guy who has made the last 33 years fly by. I think we have all worked with or have known people in our careers about whom we have said, ‘not in a million years would I work for him.’ I can’t imagine showing up to work without him.— Valerie Staton, Client Services Coordinator, CBRE