The Fort Podcast: 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
Listen on:
Spotify
Apple Podcasts
YouTube
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?
Episode Summary:
In the podcast episode featuring Herb Weitzman, a renowned figure in real estate, Weitzman shares his extensive experience and insights into the real estate industry. He recounts his early exposure to real estate, beginning with his childhood and moving through significant career milestones. Weitzman discusses his strategies in various sectors, including farm and ranch real estate, property development, and retail spaces, highlighting his adaptability and forward-thinking approach. Key themes include the evolution of market trends, the impact of economic downturns like the savings and loan crisis, and the influence of online shopping on traditional retail. Weitzman also emphasizes the importance of vision, decision-making, and staying informed in the dynamic real estate market. The episode offers valuable lessons on leadership, mentorship, and the significance of building strong tenant relationships in the property management sector.
The FORT is produced by Johnny Podcasts