This week marks the fifth anniversary of the global coronavirus pandemic, a crisis that was “going to change everything” about work as we knew it.

 
 
Unsplash/Michael Walter
 
   
 

At first, it did. As most of the world went remote, offices gathered dust, and everyone got intimately acquainted with Zoom, Teams and Slack. Business travel ground to a halt. With no one going anywhere, smog cleared from cities like Los Angeles even as airlines and the hospitality industry teetered at the edge of disaster.

For commercial real estate, it was a singularly defining shock, plunging sectors like office into the abyss and lifting others like industrial and retail to new heights.

But many early CRE predictions were dead wrong. “Six-foot offices,” workers toiling in secure glass boxes and other extreme hygiene measures fell away. Hub-and-spoke offices didn’t become the new norm. The death of business travel was greatly exaggerated.

Some impacts have lingered. The word “hybrid” entered the work lexicon for good, and many employers embraced flexible work for the first time despite a recent push to get workers back to the office.

Texas was already there. After leading the RTO push in the early days of the pandemic, its cities are still out in front, according to Kastle System’s Back-to-Work Barometer. The property security company’s results for the week ending Feb. 26 show that 63.9% of workers were back to the office in Houston compared to prepandemic activity. Dallas was close behind at 61.3%, and Austin sat at 60.5% versus a national average of about 54%.

That’s still a lot of people working remotely or hybrid, though. We’d love to hear how you think the pandemic has — and hasn’t — remade the world of work in the Lone Star State.

— Katharine Carlon, Billy Wadsack and Maddy McCarty

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What's The Big Deal?

 
   
 
Wikimedia Commons/Karen Almond
 
   
 

After more than 40 years in Denton, Sally Beauty Holdings is moving to Plano. 

The beauty product retailer will lease 140K SF of office space at 7900 Windrose Ave. for its corporate headquarters. The company also plans to relocate around 600 employees to the city.

The retailer sold its headquarters to Denton County for $45M in September and has faced financial challenges for years, but CEO Denise Paulonis said the company could add more employees over the next decade thanks to the move.

Read more here.

Best Of Bisnow

Tesla plans to build a 1M SF battery factory outside of Houston, the company revealed via a tax abatement agreement with Waller County. The battery plant will take over a space the electric vehicle manufacturer already leases near Katy. Honda also announced plans to bring its hybrid Civic production to Indiana in response to tariffs.


This year’s Women In Construction Week was tempered by concern about DEI-abolishing executive orders. The construction industry has invested significant time and money recruiting women into the industry, with measurable success. But Trump administration executive orders have some concerned that recruitment could become more difficult as the industry grapples with a worker shortage.


A long-anticipated luxe furniture emporium with a rooftop deck and restaurant may be coming to Houston’s Highland Village. RH, the chain formerly known as Restoration Hardware, has seemingly abandoned its 2021 plans for a new build in Autry Park as developers seek approval to build a new facility across the street from the existing RH Houston on Westheimer Road.


DFW hosting nine matches for the 2026 FIFA World Cup is just one of a host of sports-related events and projects touted as phenomenal opportunities for the Metroplex by commercial real estate professionals. They say the influx of teams, spectators and media from around the world will bring new hotels and opportunities for years to come.


The site of the former Valley View mall is back on the market after redevelopment plans to build an $80M mixed-use building stalled. Beck Ventures, which owns 100 acres at the site, intends to remain involved in efforts to turn the property into a global showplace for the planned 450-acre Dallas International District.

Best Of The Rest

Growing Pains (Houston Public Media): Houston officials unveiled details of the first phase of a three-decade, multibillion dollar plan to overhaul the George R. Brown Convention Center area, but the announcement wasn’t greeted with fanfare by all. Protesters turned out to lament that the Phase 1, 700K SF expansion of the center would also mean abandoning Polk Street, a key connection between the East End and downtown.


Care.com To Relocate HQ To Dallas (DBJ): The online marketplace for healthcare services announced it will move its headquarters from Austin to the Uptown area of Dallas in pursuit of greater opportunities for its clients. A spokesperson said the company plans to add hundreds of jobs at the new headquarters in the years ahead.


New Stadium? Not So Fast (HBJ): Following a report that the Houston Texans are considering using public funds to build a replacement for NRG Stadium, Texans President Mike Tomon cleared the air. The focus remains on renovating NRG Stadium, not building a new venue, he said.


No Pronouns Allowed (Austin-American Statesman): A former Texas Real Estate Commission employee has come forward to say he was fired from his role after refusing to remove pronouns from his email signature after a directive from Gov. Greg Abbott. Frank Zamora, who was born male and identifies as such, said he could not contribute to a “broader effort to make LGBT+ people feel unwelcome” in the state.


Richardson Office Buildings To Be Redeveloped As Apartments (Community Impact): A trio of projects will add new residential options in the built-out suburb as developers move on from unused and outdated office buildings. Work on The Glenville and Sherman Lofts redevelopments are already underway, while the project at 250 E. Arapaho Road was approved last month.

Number Of The Week

$2B

— The economic impact expected to be generated by the 2026 World Cup in North Texas alone. Much of that is expected to flow to the region’s hospitality industry and spur a raft of new hotels and other development.

Hot Tea, In Person

Grab a cuppa, network and learn about the latest trends at these upcoming events:

March 19: National DICE Power Capacity, Energy And Sustainability

March 20: Future Of Houston Industrial

April 15:   Austin Office, Mixed-Use And Urban Living

April 16:   Future Of Downtown &Uptown Dallas

April 17:   Houston State Of The Market

April 23:   Dallas Healthcare Summit

May 6:      DFW Bisnow Multifamily Annual Conference (BMAC)

May 9:      Austin Health Care And Life Sciences Summit

Brewing In The Texas Job Market

This week’s career opportunity from SelectLeaders, Bisnow’s CRE focused job board.

Associate - This candidate will play an active role in all aspects of the acquisition and asset management of multifamily and industrial real estate. The Houston-based team is looking to hire a candidate who will thrive in a dynamic, entrepreneurial environment and grow with the firm. This candidate will be working directly with the firm’s managing partners and be a part of every aspect of the real estate life cycle from acquisitions to asset management to disposition. This entrepreneurial role will directly contribute to investment underwriting, due diligence, buy-hold analyses, market research reports, broker correspondence and the exploration of new markets.

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