#328 - Herb Weitzman - Executive Chairman @ Weitzman -The King of Texas Retail

Herb is Executive Chairman of Weitzman. In 1990, after nearly 30 years in the real estate business, Weitzman founded the company, a full‐service commercial real estate brokerage firm that now ranks as one of the largest retail‐focused real estate services firms based in Texas. On the brokerage side, Weitzman leases a retail portfolio of approximately 44 million square feet in Austin, Dallas‐Fort Worth, Houston, and San Antonio. As a property manager, Weitzman is responsible for managing a statewide portfolio of more than 22 million square feet of retail and commercial properties.

On this episode, Chris and Herb discuss:

• Herb's real estate career
• Timeless lessons for success in real estate
• What makes a great retail deal
• Leadership philosophies
• The future of DFW
• Innovation in retail

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Topics:

(00:00:00) - Intro

(00:04:06) - Herb’s career in RE

(00:16:02) - Timeless lessons for being successful in RE

(00;16:42) - Future growth for DFW

(00:18:18) - The opportunity to buy 25% of Highland Park Village for $100k

(00:22:21) - What it takes to see the future potential of a market

(00:24:38) - Starting Weitzman

(00:33:10) - Experiencing the 80’s Savings and Loan Crisis

(00:42:08) - Raising capital

(00:43:45) - Why have you chosen to stay exclusively in Texas?

(00:49:30) - Leadership philosophies

(00:52:25) - What makes a great retail deal and what do people get wrong?

(00:55:01) - Suburban vs. urban retail

(00:59:22) - Ikea

(01:00:53) - The importance of relationships in retail

(01:05:33) - Thoughts on construction pricing

(01:10:02) - What areas of DFW are going to explode over the next 10 years?

(01:12:50) - Innovation in retail

(01:19:44) - What does work look like for you today?

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