UPDATED at 5:30 p.m. June 18, 2008
As most of the commercial real estate industry knows by now, the years-old rumors that Jones Lang LaSalle is buying Staubach Co. were true. The official announcement came June 16, after most major news groups covering commercial real estate reported that a deal was imminent. As so Hall of Fame quarterback Roger Staubach finally agreed to sell the company he created for $613 million.
Interesting thing is if the Dallas Cowboys had paid its superstar quarterback what it pays superstars such as Terrell Owens today, Staubach Co. might never have existed.
Here’s why. Staubach went into commercial real estate while still playing football because he needed the money. The thought of taking off the spring and coming back to condition at summer camp did not exist. Players, even future hall of famers, often had a second career.
“They weren’t paying football players the way they do today,” Staubach told me in a 1997 interview for Atlanta Business Chronicle. “So, I decided I had better work during the off-season.”
Being in Dallas – home to commercial real estate legends Trammell Crow, Henry S. Miller, Mack Pogue and others – Staubach naturally was drawn to commercial real estate. He began his career at Henry S. Miller Co.
Commercial real estate soon got into Staubach’s blood. “I liked it and stuck with it,” he said.
Staubach founded Staubach Co. in 1977 (two years before retiring from the NFL) and quickly developed a focus on representing tenants. His company prided itself on forming a strategic partnership with its clients instead of just brokering a quick deal to earn an easy fee. “Everything is based on the tenant,” he said. We kind of get away from the fee-and-me approach.”
Staubach Co.’s approach and success caught the eye of Jones Lang LaSalle and others. "The Staubach Company is recognized for exceptional tenant representation expertise and is a leading presence in markets throughout the United States. We are delighted that they have decided to join our company," said Colin Dyer, Chief Executive Officer of Jones Lang LaSalle.
Roger Staubach, who ruined several Sundays and a few Thanksgivings at our Redskins-loving house in Maryland, no longer will have to worry about working two jobs.
It’s hard not to be happy for No. 12.
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