Bill Cawley, CEO @ Cawley Partners, discusses his near-death experience and finding faith, navigating the 80's crisis in Dallas, the evolving office market, and advice for those entering real estate.
The speaker shares his experience during the real estate collapse of the late 80s and early 90s, including negotiating debts and making amends.
The podcast episode discusses the changing nature of office spaces, highlighting the impact of factors such as commuting preferences and employee experiences.
The podcast episode delves into the current state of the office real estate market and explores potential opportunities for investors.
Deep dives
Starting from scratch in Dallas
The speaker recounts moving to Dallas with little money and starting a career in real estate after his father's influence.
Building on the tollway
The speaker describes how he took advantage of opportunities on the Dallas North Tollway, starting with office condo conversions and later securing key tenants for new office buildings.
Weathering the collapse
The speaker shares his experience during the real estate collapse of the late 80s and early 90s, including negotiating debts and making amends.
The changing office market
The speaker reflects on the current state of the office market, discussing the impact of COVID-19, the importance of well-located buildings, and the need to control tenant improvement costs.
Changing Landscape of Office Spaces
The podcast episode discusses the changing nature of office spaces, highlighting the impact of factors such as commuting preferences and employee experiences. The speaker suggests that the traditional office setup is evolving, with the focus shifting towards creating a better work environment that promotes productivity and employee satisfaction. Examples of this include providing on-site amenities like food options and gathering spaces. The speaker emphasizes the importance of employees feeling cared for and valued, and mentions how the office design should cater to these needs to enhance productivity and employee well-being.
Opportunities in the Office Real Estate Market
The podcast episode delves into the current state of the office real estate market and explores potential opportunities for investors. The speaker discusses the potential for buying quality office buildings at attractive prices due to the shifting market dynamics and the willingness of institutional owners to sell their best assets. Examples are given of institutional owners offloading properties that require significant maintenance or have low leasing rates. The speaker advises that disciplined investing is crucial, and highlights the importance of finding the right opportunities in areas such as well-located B-grade office buildings and mixed-use developments.
Bill Cawley is the brand and vision behind Cawley Partners, a full-service, Dallas-based real estate company historically focused on commercial office product. Over the course of his career, Bill has owned all classes of commercial real estate in multiple markets across the country. He is continually recognized as one of the most influential business leaders in Dallas-Fort Worth.
Cawley Partners has been the premier office developer along the Dallas North Tollway, developing more than $500 million of Class A office space and totaling more than 1.5 million square feet within the last 5 years.