BAD YEAR, GOOD RIDE
Calling 2009 an anemic year, Jones Lang tenant rep managing directors Steve Thelen and Brad Selner see few factors indicating a stronger 2010 CRE market. Steve says CFOs are seeking ways to slash costs, resulting in tenants more inclined to renew leases and stay put. As loans mature, many properties will be refinanced,foreclosed, and sold, Brad says, and new owners will have lower basis than those who bought in '05-'07. That'll lead to a continual slide in rental rates and an increase in concessions, he adds, making later this year and next a great time to be tenant.
After hours, this gang motors their way to dirt bike tracks across North Texas. Flanked by Steve and Brad are H. Forshey Hoobler(our favorite name since Linbeck’s South Cole), Jeff Staubach (note the resemblance to dad Roger) and Josh White (who claims to have no game on the court, despite sharing a name with the top UNT point guard). Brad says riding dirt bikes isn’t that dangerous, but Bisnow heard rumors of broken noses and near-misses from dumping bikes into bodies of water.