Dallas Cowboys legend Roger Staubach remembers well his first real estate negotiation with current team owner Jerry Jones.
Jones was building what is now AT&T Stadium in Arlington, where the Cowboys play. Staubach wanted a luxury box.
Jones asked Staubach to pay up front to have the box for 20 years.
“I said, ‘Well how much would that be, Jerry?’” Staubach recalled at a recent real estate industry event. “He said, ‘How about $3.5 million?’”
“I said, ‘Well how about $3 million?’ And he said, ‘OK,’” Staubach continued. “I thought, ‘Well, why didn’t I say $2 million?’”
Staubach shared the story May 10 while inducting Jones, a trailblazer in both sports and real estate, into the North Texas Commercial Association of Realtors and Real Estate Professionals Hall of Fame.
Click through the slideshow with this story to see Commercial Real Estate Hall of Fame inductees from this year and legends inducted in the past.
Jones, founder and CEO of Blue Star Land Co. and owner, president and general manager of the Dallas Cowboys, was inducted along with Toby Grove, president of KDC; and Mickey Ashmore, current chairman of retail services Americas for CBRE and previously president/CEO and majority shareholder of UCR. Ashmore received the Michael F. McAuley Lifetime Achievement Award for community service.
KDC’s biggest project in development under Grove is CityLine, a 186-acre mixed-use project in Richardson that will build out to 5 million square feet of office space, almost 4,000 apartment units, two hotels and two parks.
KDC along with Karahan Cos. and Columbus Realty formed “Team Legacy” to develop Legacy West, a 240-acre mixed-use project in Plano. JPMorgan Chase’s corporate campus is currently under development at the project, which also includes Liberty Mutual’s regional headquarters, Toyota’s new North American Headquarters, and FedEx Office’s corporate headquarters.
Ashmore has created and taught classes on commercial real estate and is the founder of an annual scholarship contest designed to showcase the best photographic interpretations of “Retail as Art” from DFW high school students. He has also been involved with The Family Place, Genesis Women’s Shelter and CASA.
Jones’ Blue Star Land Co. has developed AT&T Stadium in Arlington and The Star in Frisco, the Dallas Cowboys’ training headquarters. Starwood, a 550-acre residential development in Frisco; Riata, a 2,000-unit multifamily community in Austin; and StarCreek, a 500-acre mixed-use development in Allen, are among other Blue Star developments.
Jones also was inducted into the Pro Football Hall of Fame in February of 2017 and completed his trek to Canton with the unveiling of his Hall of Fame bust and induction ceremony in August 2017.
Which brings us back to the story that Staubach, the Cowboys quarterback turned real estate mogul, shared at the NTCAR induction.
After settling on $3 million for the stadium box, Staubach told Jones that the price tag was more money than he’d made in 11 years playing for the Cowboys.
To which Jones replied, “Well, golly, I’m gonna frame that check,” Staubach said, eliciting laughs from the real estate crowd.
“He framed it and he’s never cashed it,” Staubach said. “And if you believe that…”