Business Spotlight: Next Gen Real Estate

Tom and Jill McLoud spent nearly 18 years working in commercial real estate, doing business with major companies like Walmart Inc. (NYSE: WMT) and Hy-Vee. They decided to form their own commercial leasing business in the fall of 1992, making way for McLoud and Co. LLC to take shape in November that year.

Their first leasing agreement followed soon after with American National Insurance Co.’s Corporate Centre on East Sunshine Street. The McLouds managed the property for 25 years – and built an office and retail portfolio of 900,000 square feet in southwest Missouri and northwest Arkansas, according to McLoud.net.

As business continued to grow, Tom McLoud unexpectedly died on Nov. 18, 2009; current owners declined to disclose the cause. Jill took on a new role as sole owner and entrusted employees to help her keep running the business. She continued leading the company over the next decade-plus.

In March 2022, however, much like her husband years prior, Jill McLoud, 64, suddenly died at home. Company officials declined to disclose the cause.

Her two sons, Jason and Joseph McLoud, along with broker Sandy Harrel, took over the company as co-owners. The trio say they have a simple goal: to honor Tom and Jill McLoud by ethically and profitably providing professional real estate services to the community. Company clients have included the University of Arkansas, Southwest Baptist University, Boy Scouts of America, Pregnancy Care Center and Camp Barnabas.

Joseph McLoud, Tom and Jill’s son and the new owner of the company, is currently serving in support of Sandy Harrel, who is now co-owner and broker. Joseph is also in the process of learning the ins and outs of the business as he takes a more hands-on role in the daily operations.

“I’m looking forward to the opportunity to see where I can take the business in the next year and into the future,” says Joseph, who had been serving as his mother’s personal assistant for her health care needs.

The majority of its clients are in company-owned shopping centers at Campbell Avenue and Walnut Lawn Street as well as at Battlefield Road and Fremont Avenue, known as Battlefield Place. McLoud and Co. also has land, a 15,000-square-foot manufacturing warehouse in Ozark and an 85-unit storage facility in Monett under management for customers. 

In conjunction with McLoud and Co. reaching its 30-year anniversary on Nov. 1, the company-owned Sheid’s Plaza shopping center at 3322 S. Campbell Ave. was renamed McLoud Plaza.

“This was to honor Mr. and Mrs. McLoud for the many years they have made an impact on commercial real estate in southwest Missouri,” says Harrel.

Much like the long run with American National’s Corporate Centre, McLoud and Co. also has been working with Cedar’s Family Restaurant at McLoud Plaza for nearly 21 years. Dennis Butzlaff is the owner of Cedar’s and has worked closely with the McLoud family throughout the years.

“It’s been wonderful to work with McLoud and Co. over the last 21 years; my son is taking over the business and hopes to be here for another 21 years,” Butzlaff says.

Cedar’s is one of 37 tenants at McLoud Plaza, in which Harrel says the firm has invested $200,000 in landscape, signage, parking lot and paint improvements. It’s now 85% occupied, she says, with other lengthy tenants in The Review Shoppe and Wash House – South. Harrel says the four vacant spaces range from 1,500 square feet to 8,400 square feet.

McLoud and Co. does most of its business with small, local companies looking for their first space. It also helps businesses that are looking to expand.

Industrywide, concerns have grown about revenue generation in the wake of the 2020 pandemic and its impact on real estate – causing companies to look at business strategies. In Deloitte’s 2023 Commercial Real Estate Outlook, 48% of businesses surveyed indicated revenues for commercial real estate companies would decrease in 2023, while 40% expected an increase.

The revenue expectations represent a strong dip from the prior year’s outlook, when 80% projected increases. Still, over 66% of those surveyed by Deloitte believed commercial real estate would experience improving or stable conditions next year.

”I would have to agree with the 66% who have the more positive outlook,” Harrel says, citing recent expansions by tenants Jungle Gym and Healthy Planet, as well as a lease extension by LT Fleet Services. “I am having calls for people wanting to buy properties, current tenants who are expanding into larger spaces, existing tenants renewing leases and new tenants starting businesses.”