NAIOP Colorado

Members Share Experiences from the 80s

Submitted by Patrick Devereaux, Cushman & Wakefield

The June 9th breakfast meeting titled “How We Will Survive This Crisis: Lessons Learned From The 80s,” featured NAIOP Colorado members representing multiple disciplines within the commercial real estate industry.  Presenters included Peter Coakley of Inverness Properties, Steve Clark of Prime West Development, Mary Sullivan of CB Richard Ellis and Mike Cantwell of Johnson Capital Colorado.

The panel was moderated by Patrick Devereaux of the Chapter’s Programs Committee, who revealed some of the presenter’s favorite entertainment memories from the 80s (Madonna, Saturday Night Live, Caddy Shack, and Prince to name a few). Each panel member shared their experiences, war stories and lessons learned from the 80s and discussed how those lessons can be applied to our businesses today. Three members of the Chapter’s Developing Leader group then posed challenging questions to the panel members. 

Colorado becomes first Corporate PAC Gold Champions for 2009

Submitted by Bob Moody, VP of Government Affairs, NAIOP Colorado

NAIOP Colorado continues to play a significant role in ensuring that the voice of the commercial real estate development industry is heard on Capitol Hill not only in Colorado but in our Nation’s Capitol.  By becoming the first Chapter in 2009 to reach NAIOP-PAC Gold Champion status we maintain a strong presence in our nation’s capital which is more vital than ever before in light of the unprecedented economic challenges the industry is currently facing. Issues and pending legislation that would have significant impact on commercial real estate development include the availability of credit for commercial markets, legislative efforts to more than double taxes on compensation from partnership carried interest and establishment of strict federal mandates forcing states to increase energy efficiencies in building codes.  Thanks to our corporate PAC Trustees – Larry Lance, Jim Mulligan, Michelle Brokaw and Kathie Barstnar.  Thanks also to our other corporate PAC donors – your help and participation in this process, including your personal financial commitments ensure the protection of our industry and that our voice is heard!

Here is how NAIOP Colorado compares to the other large chapters in Corporate PAC investments:

Click Here, for more information or to become a corporate PAC Donor and follow the instructions.  Get involved – it feels good and protects your industry as we move through this downturn and look toward a future bright with possibilities.

Volunteers Brave the Elements at Gates Camp

Submitted by Mark Cheeks, Ware Malcomb

Saturday, May 30, 2009 was NAIOP’s twelfth annual Spring Work Day at the Boys and Girls Clubs Gates Camp.  It was a great day, despite heavy rain showers in the mountains.  The volunteers met at the Broomfield Park and Ride for a light breakfast and car pooled up to the camp.  About ten of the camp counselors volunteered their time as well.  Tyler Edmonson is the camp’s director and is always eager to have us come up because we are the final push needed to get the camp ready for the campers coming this summer.

We did prep work to get the camp ready for opening the following week, so the Boys and Girls Clubs really count on us to lend some elbow grease to the projects.  There are always a variety of jobs to choose from, this year there were things such as, putting up the large outdoor tents, staining the barn, setting up the archery targets and area, lining trails with cut posts and constructing a stepping post course.

NAIOP Rallies, Despite the Weather and Economy

Submitted by Ken Whitelam, Golf Committee Chair and Senior VP, Colorado Capital Bank 

The 2009 NAIOP Classic Golf Tournament was held on June 1st, despite Mother Nature’s efforts to ruin the fun. After many enjoyable years at the Inverness Country Club and Golf Course, this year’s tournament was held at Valley Country Club in Aurora.  Over 120 players “Rallied at the Valley” for tournament play and competed in various contests, including a marshmallow putting challenge hosted by First American Title Insurance Company.  Play finished in less than six hours, which is remarkable, considering participants were pulled off the course for lightening at one point.

DL Mentor Program Thrives in Tough Economy

Submitted by Doris Rigoni, Mentor Program Chair and Assistant Vice President, Chicago Title

Unlike the economy, the NAIOP Colorado Developing Leader (DL) Mentoring Program is thriving in the beginning of its third year.  From its inception in 2007, the Mentoring program has seen an increase in applicants each year and more involvement from industry mentors. 

The DL Mentoring Program was designed to match the Developing Leaders members, those individuals 35 years of age and under, with more experienced real estate professionals who have been in the industry for ten plus years.  To date, the program has had over 75 Mentee participants and demand continues to grow each year.  Applicants are selected through an application and interview process.  The Mentor/Mentee match is then made by understanding applicants goals and by specific Mentor requests through a selection committee.   Below are some testimonials from previous year participants:

“I was part of the 2007-2008 Mentoring Program.  In addition to obtaining very beneficial career advice and gaining a friendship, my mentorship had an unanticipated immediate positive impact on my career; it directly led to a job “opportunity” – Dan Metzger, Divided Capital Trust, 2007 Participant

“The mentor program offers young professionals a unique and valuable opportunity to network and develop a relationship with a leader in the commercial real estate industry.  I have found the program to be very beneficial with career goals, market intel, specific deal issues, and developing a trusting relationship that I can rely on in the future.  Additionally, the mentor program has provided me with the opportunity to meet not only with my mentor but other leaders in the commercial real estate industry” – Ben Kuruvila, U.S. Bank, 2007/2008 Participant

“The mentor program has been extremely beneficial for me, and applying to the program was one of the best decisions I made as a Developing Leader in NAIOP.  The program allowed me the opportunity to have access to an industry professional who has been instrumental in offering advice and perspective on my specific niche in the real estate industry. Our industry leaders volunteer their time and energy to committing to helping someone in the early stages of their career. That is a huge commitment on the part of the mentors and NAIOP and I encourage other DL members to take advantage of the opportunity” – Sara Croot, Compass Bank, 2008 Participant

“The NAIOP mentoring program is something all Developing Leaders should strongly consider.  It allows you to tap into industry leaders who have experienced all facets of the commercial real estate industry on a more personal level.  The one-on-one relationship allows for a stronger understanding and a platform to ask any type of question; from career advice to specific transaction knowledge to helping facilitate new introductions.  It is a great program that proves to get better every year” – Doris Rigoni, Chicago Title of Colorado, 2007 Participant

Mentor and Mentee Applications are now being accepted for the 2009-2010 DL Mentor Program.  Deadline for applications is June 12th.  For more information, please visit the Developing Leaders page of the NAIOP Colorado website at www.naiop-colorado.org.

 

Going Green to Find Gold in Your Existing Building Series

Submitted by Tom Coalson, LEED-AP, PMP 

On  Wednesday, May 20th, the NAIOP Green Series Education Committee kicked off this year’s Sustainability Series  “Going Green to Find Gold in Your Existing Building.” This 5-part breakfast series is designed for building owners, property managers, real estate professionals, developers and others who want to build on last year’s green series with additional, pertinent and to-the-point subject matter on the particulars of “greening up” an existing building.

The premier session, “Improving the Asset,” was put together by Tom Coalson, formerly of C&A Companies and Karen Van Heukelem of Colorado Hardscapes. Session One provided specific details for taking the first steps necessary to proceed with a sustainable upgrade to an existing building.

The first guest speaker was Steve Alschuler of Beaudin Ganze Consulting Engineers. Steve not only holds an MBA from the University of New Mexico, but is a registered P.E. and an accredited LEED-AP as well. His 30-minute presentation dealt with, among other items, the real value and practical benefits of an energy audit, where to start, how to select the right help for conducting the audit and what the deliverables should be.

Developing Leaders Tour 1800 Larimer

Submitted by Brad Sicard, AECOM

On Thursday, May 14, the Developing Leaders (DL) Group held their second annual DL Project Tour. This year’s tour was held at Westfield Company’s 1800 Larimer in downtown Denver. When completed, 1800 Larimer will be Denver’s first LEED Platinum office tower. Attendees were provided with safety equipment courtesy of Construction building services, Kiewit Building Group, Pinkard Construction Company, and Mortenson Construction. Participants were given a safety briefing and split into four groups. Each group toured the project site with members of the design and construction team including RNL Design, SRI, and Mortenson Construction. The tour focused on the unique challenges faced by the design and construction team as a result of the building location, complex design, and LEED accreditation requirements as well as the innovative solutions that the team used to overcome those challenges. The developing leaders were enthusiastic to learn about the design-build process and asked many questions of the project team. Touring the project site at such an early stage in construction was a rare opportunity for the DL members. The project team worked very hard to allow the DL members to access the structure without interrupting the construction schedule.

NAIOP 12th Annual Boys & Girls Club’s Spring Work Day

Submitted by Mark Cheeks, Ware Malcomb

Each year, the Colorado Chapter of NAIOP supports the Boys and Girls Clubs of Denver by spending a day prepping the Gates Camp.  Gates Camp is a beautiful 80-acre camp in the Indian Peaks Wilderness area that was developed for and continues to provide a wilderness experience for inner-city children for a minimal fee.

Saturday, May 30, 2009 will be the twelfth annual Spring Work Day for NAIOP.  It will be a great day.  The volunteers meet at the Broomfield Park and Ride for a light breakfast and we will car pool up to the camp.  About ten of the camp counselors volunteer their time as well.  Tyler Edmonson is the camp’s director and is eager to have us come up because we are the final push needed to get the camp ready for the campers coming this summer.

We do all the prep work to get the camp ready for opening the following week, so the Boys and Girls Clubs really count on us to lend some elbow grease to the projects.  There are always a variety of jobs to choose from, last years there were things such as cleaning up the cabins, putting up the large outdoor tents, clearing out cut or fallen branches, digging post holes and setting posts, and staining a cabin.

The camp depends on this group of volunteers each year.  The one day of work that the volunteers give the camp is like having 15 people spend a 40-hour week on the multiple projects.  While the work is the primary focus, other added bonuses are: networking in an unconventional setting up in the mountains, enjoying a beautiful day, the drive back and forth is a beautiful ride and the food and the drinks taste that much better after a hard day’s work.

This year we will have the abbreviated version of the day again; leaving at 7:30 and returning to Denver by 2:30.  The more hands we have there are the more we can get done for them.  It will be a rewarding day as usual and it just makes you feel good to know you are helping to make the experience better for the 600 campers that will stay there throughout the summer.  We look forward to seeing all the volunteers this year.  As the camp cheer goes: Heepwah!

For more information or to register, click here http://www.naiop-colorado.org/pdfs/ev09_workday.pdf.

 

Renewable Energy: A Bright Spot in Colorado’s Economy

Submitted by:  Kathryn G. Spritzer, City and County of Denver Asset Manager 

On April 14, 2009, NAIOP Colorado’s breakfast meeting featured a panel of speakers discussing Renewable Energy.  The program moderator, reporter Steve Raabe of The Denver Post introduced the renewable energy experts on the panel to over 250 attendees at the Downtown Marriott City Center.  The program was designed to give the audience an overview of the renewable energy industry in Colorado, and discuss the impact of the new energy economy from a real estate perspective.

Doug Arent, Director of Strategic Energy Analysis, of the National Renewable Energy Lab (NREL) gave the audience an overview of NREL’s impact on our economy.  Mr. Arent joked that NREL’s slogan could be “30 years to overnight success”, as NREL has been present here for 30 years but only recently has had a significant impact on the economy.  This year, for example, NREL has a robust budget and plans to add 300-400 jobs, despite the slow economy.  Steve Raabe noted that companies locating in Colorado often cite NREL as an influence for coming here.  Mr. Arent pointed out that all types of renewables have shown exponential growth over the past 7 years.  However, he went on to say that renewable energy still represents only a small fraction (6%) of energy usage in the U.S. (compared to 13% worldwide).  This figure is expected to grow modestly to 9% (14% worldwide) by the year 2030.  In addition, developers of real estate who build or retrofit to “green” standards will be better able to attract tenants and lower operating expenses.  In many cases, payback periods are very fast and fixing what you have can make a bigger impact than building new.  And for more bang-for-the-buck, many states provide lucrative incentives for developing renewable energy resources.  For a comprehensive listing, Mr. Arent recommends visiting the Database of State Incentives for Renewable Energy (DSIRE).  Click Here to view Mr. Arent’s presentation.

Rick Gilliam, Director of Western States Policy for SunEdison, a solar energy firm who has developed an 8.2 megawatt photovoltaic solar energy facility in Colorado’s San Luis Valley, spoke next.  Mr. Gilliam noted that SunEdison sells energy back to the grid and provides power for users including Whole Foods, Staples, WalMart and Kohl’s.  He stated that buying land for photovoltaic facilities can be very complex, with buyers needing to consider not only land cost, but property taxes, neighboring landowners' concerns, nearby uses and transmission concerns.  Later in the program, Mr. Gilliam addressed the economic benefits of solar in terms of job creation:  the development and installation process employs 15 to 30 people per megawatt, but there is little work once the facility is up and running.  For this reason, he noted that SunEdison subcontracts their services for one-off smaller installations in between major developments.
Nick Lenssen, Senior Specialist in Market Intelligence for Vestas-American Wind Technology, Inc. gave a brief overview of Vestas.  A Danish company, Vestas is the world's largest producer of wind turbines.  Vestas has a large wind turbine blade plant located in Windsor, Colorado, and is planning the world's largest wind tower factory in Pueblo.  He expects that at full build out, Vestas will employ 2,500 people in Colorado.  Mr. Lenssen noted that Vestas chose to locate in Colorado because of the state's central location, making it easy to ship parts up and down through the "wind belt".  When asked who the competitors are in wind turbine development, Mr. Lenssen cited GE, Mitsubishi, and Siemens.  He noted that most of these competitors produce wind turbines overseas and while none of them currently have plans for Colorado facilities, there is increased interest in expanding into North America.

NAIOP now offers use of "Member of" Logo

Members can now use the NAIOP “Member of” logo to identify that you are a member of NAIOP.  Use it on your email, your LinkedIn profile, anywhere to identify that you are a member of NAIOP, the Commercial Real Estate Development Association.  You will be required to adhere to the NAIOP usage guidelines.  If you are interested, please email Kathryn Hamilton at hamilton@naiop.org and she will send you the logo and usage agreement.

Developing Leaders’ 2nd Annual Dinner With The Icons Lifts Spirits

Submitted by T.J. Johnson, Fuller and Company

On February 25th, the Developing Leaders held their hugely successful “Dinner with the Icons” event at The Magnolia Ballroom for the second consecutive year.  Icons from the development, brokerage, legislative, banking, legal and architectural communities were on hand to share insight and offer guidance to over 80 attendees that came out for the event.  The event was offered almost exclusively to Developing Leader membership and then opened to the broader NAIOP Colorado community and included a three course dinner, cocktails and access to some of brightest industry minds in a round table format.

Mindy Humphrey, who chaired this year’s event, remarked that the great turnout in spite of the turbulent economy was a testament to the quality of Icon panelists this year and the past success of the event.  Jason Newcomer, 2009 co-chair of the Developing Leaders committee, was master of ceremonies and helped orchestrate as tables of 6-8 recipients spent time posing questions to each Icon.  After 15-20 minutes,  each Icon would move on to another table in succession to face a new set of questions and concerns about ways to navigate through these uncertain times.

If you are interested in Developing Leader involvement or have questions about our program, please contact Jason Newcomer at Jason@urbanvillages.com or Sara Croot at Sara.Croot@compassbank.com.

Awards handed out at NAIOP Annual Luncheon

The NAIOP Annual Awards of Achievement Luncheon was held on February 19^th.  The event was hosted by 2009 Chapter President, Craig Poulter, Managing Director at The PrivateBank.  Among special guests present was Tom Bisacquino, NAIOP Corporate President.  Tom spoke briefly to the group about the organization as a whole and how our role as 4^th largest chapter nationally fits into that picture.  Legislator of the Year, Representative Joe Rice spoke about the importance of the role NAIOP Colorado plays down at the legislature working on behalf of our members’ interests.  Special recognition was given to Presidents Award Winner, John Freyer, Land Title Guarantee Company.  The NAIOP Colorado Chapter also recongnized the following winners in the listed categories:

Mixed Use Development of the Year – 1400 Wewatta, Opus Northwest, LLC

Office Development of the Year – Lincoln Station, Westfield Development Company, Inc.

Development of the Year – 1001 17th Street, Miller Global Properties, LLC

Special Development of the Year – Brighton Learning & Resource Campus, Community Reach Center Foundation & Brighton Urban Renewal Authority

Owner/Developer of the Year – Opus Northwest, LLC

Retail Broker of the Year – Jonathan Weisiger, CB Richard Ellis, Inc.

Land Broker of the Year – Stew Mosko, Fuller Real Estate

Industrial Broker of the Year – Jim Bolt & Mike Camp, CB Richard Ellis, Inc.

Office Broker of the Year – Barry Dorfman, Jones Lang LaSalle

Investment Broker of the Year – Michael Winn & Timothy Richey, Cushman & Wakefield of Colorado, Inc.

Broker Outstanding Achievement Award – Kenneth Egan, Fuller Real Estate

Member of the Year – John Logan, Laff Campbell Tucker & Gordon, LLP

DL Member of the Year – Jason Newcomer

Award of Excellence – John Ellis, Security Title Guaranty Company

Click on the link below to see pictures from the event.

And They’re Off…!

The 7th annual NAIOP Rocky Mountain Real Estate Challenge began with a bang as 80 people packed the Solterra Community Center, The Retreat, in Lakewood for the formal kickoff to this year’s challenge.

The Challenge pits the best and brightest from the University of Colorado and the University of Denver against each other in a high profile competition for the rights to the coveted NAIOP Cup. This year’s site is sure to prove challenging and rewarding as students scramble to present their development visions for Carma’s 194-acre Solterra Centre located at C-470 and Alameda.

More than 30 students attended the kickoff event where they were introduced to their assigned architectural resources and were given inspiring words of wisdom from Guy Arnold, the Challenge Chair, prior to embarking on what is sure to be a rewarding and formative experience over the next four months.

Students waited suspensfully as the NAIOP coin was tossed into the air - ultimately landing in DU’s favor; DU Professor Jeff Engelstad chose to have DU present first before the judges and the crowd on the big day. We hope you’ll join us on May 6th in honoring the students’ hard work and seeing what the industry’s future leaders have to say about a project that is sure to define Denver’s Western Submarket!

This year’s architectural resources are as follows:

4240 Architecture
OZ Architecture Boulder
CLC Associates, Inc.
Gensler
dtj Design

Watch for registration information to arrive in the mail late next week or check our website for updates at www.naiop-colorado.org. 

NAIOP Colorado takes university pilot program to DU

Submitted by Jill Jamieson-Nichols, Colorado Real Estate Journal

After launching its Careers in Commercial Real Estate pilot program in November, NAIOP Colorado took the program to the University of Denver the afternoon of Jan. 21.

NAIOP Colorado teamed up with the University of Denver Real Estate and Construction Management Club to present the program to 23 DU students, offering roundtable discussions on commercial real estate development, architecture, ownership, brokerage, finance and entitlement/due diligence.

Most student participants who responded to a survey about the event said it helped them decide in which area to focus their career, and all said they would recommend it to other students.

Questions revolved around the instability of the credit market and career searches.  One industry professional urged DU students to “network like crazy” and focus more on getting started in the industry than on a specific role. 

MacKenzie House served as the development partner for the event, providing insight into the process of developing its Asbury Green student housing project, including hurdles that had to be overcome – like removal of 12 inches of soil from the site. The 171-unit, 350-bed LEED Silver development is under construction near the campus at East Asbury Avenue and Josephine Street.

The Careers in Commercial Real Estate program is part of a NAIOP Colorado effort to reach out to Colorado university students as they look forward to beginning careers in commercial real estate. The program provides students with the opportunity to explore the commercial real estate industry through interactive dialog. The roundtable discussions are led by veteran commercial real estate professionals and members of the Developing Leaders program.

Helping make the DU program a success were: Pete Tobin, Charlie Davis, Frank Kelley, T.J. Johnson, Todd Grover, Sara Croot, Greg Kelly, J.D. Praeger, Patty Gage and Tim Yeager.

Check out the Student Participants’ Resumes:  Click Here

NAIOP Colorado’s 2009 Annual Economic Forecast

Submitted by:  Martha S. Nachman, Esq./Ballard Spahr Andrews & Ingersoll, LLP

On January 13, 2009, NAIOP Colorado kicked off its 2009 program series with its traditional January presentation of the Annual Economic Forecast for the forthcoming year.  The program moderator, Charles E. (Chuck) Sullivan, the Managing Director of ProLogis, Inc.’s operations in North America, introduced the outstanding panel of three economists to the more than 350 attendees at the Downtown Marriott City Center.  The program was designed first to provide perspective on the forces creating turbulence in the global and national economies, then an analysis of how these forces have been and are expected to affect Colorado’s economy and real estate in 2009.

The first speaker was Mike Englund, Principal Director and Chief Economist of Action Economics, LLC, the premier provider of real time commentary and analysis for trading room professionals in the global bond and currency markets.  Dr. Englund’s extensive power point slides illustrated the unprecedented collapse in asset and liability values, the spectacular spending declines by consumers since September 2008, the gyrations in market interest rate yields, and the gap in U.S. Treasury receipts and outlays expected under the Obama administration in 2009 and 2010.  Dr. Englund cogently explained that the United States real estate reversal was the “canary in the coal mine,” and the true forces affecting world economies and asset values was global deleveraging and the reassessment and repricing of portfolio risk.  He further explained that, despite the large and swift U.S. policy response relative to past downturns, the cumulative effects of the unwillingness of consumers and businesses to spend, the reluctance of investors and banks to commit to new transactions, and the increasing market yields despite monetary easing by U.S. and other governments, could dwarf governmental policy responses to the global economic crisis in the near future.

Patricia Silverstein, President of Development Research Partners, a real estate analysis and economic development research company, who also serves as the consulting chief economist for the Metro Denver Economic Development Corp. and the Denver Metro Chamber of Commerce, spoke next.  Ms. Silverstein’s graphs clearly demonstrated Colorado has been faring better than the U.S. as a whole, a trend she expects to continue in 2009.  She believes Colorado will continue to experience job loss and unemployment rates that will be less severe than for the nation as a whole and that the state will have more stable retail sales and home prices.  Ms. Silverstein also anticipates that Colorado should see a decline in residential foreclosures and that metro Denver should experience a slight recovery in home prices in 2009.  In her conclusion, Ms. Silverstein predicted lenders will return to more sound financial underwriting practices, households will reassess spending priorities, and state and local governments will face challenges due to declining sales and property tax revenues.

The final speaker, Tom Thibodeau, is the Global Real Estate and Capital Markets professor at the University of Colorado Leeds School of Business.  Professor Thibodeau’s data confirmed the relative stability of home prices in the Denver metropolitan area compared to numerous other cities.  Professor Thibodeau also presented a wealth of statistical information regarding interest rates that demonstrated U.S. Treasury interest rate decreases are not flowing through on jumbo mortgages or to commercial borrowers.  In his analysis regarding commercial properties, Professor Thibodeau’s charts showed recent declines in the number of Denver area sale transactions for apartment, office, industrial and retail properties, as well as declines in the average per unit price of apartment properties and per square foot price in Denver office and industrial properties.  Professor Thibodeau predicted that in 2009, cap rates will increase to 7.5 to 8.5%, commercial loan delinquency rates will increase to above 6%, and spreads on commercial loans will remain high.

In the brief question and answer period that followed their presentations, the speakers agreed that risk revulsion and the hoarding of cash were exacerbating the downturn, governmental responses could improve consumer confidence levels, and a return of consumer confidence would be a key component of the recovery.

Click here to access the speakers slide presentations.

 

Chapter Launches University Outreach Program

Submitted by Jill Jamieson-Nichols, Colorado Real Estate Journal

University of Colorado real estate students got an inside look into the commercial real estate industry as NAIOP Colorado launched a University Outreach Pilot Program in Boulder Nov. 12.

Thirty-eight University of Colorado graduate and undergraduate students sat down with veteran commercial real estate professionals and Developing Leaders in roundtable discussions focusing on ownership, development, brokerage, finance and entitlement/due diligence.  The W.W. Reynolds Company sponsored the program at its Colorado Building, providing students with a glimpse of the company’s plans for a future mixed-use redevelopment of the downtown Boulder site. 

The event kicked off expanded chapter efforts to reach out to real estate students throughout Colorado.  Bridgette Waldron of NAIOP National selected the Colorado chapter to pilot a program because of its record of engaging young industry professionals.  Results of a student survey will be used to refine the program and roll it out to other universities in Colorado and, perhaps, nationally in 2009. 

Special thanks go the presenters for getting the program off to a successful start. They are: Rick Woodruff, Jason Newcomer, Charlie Davis, Jake Hawkins, Todd Wheeler, T.J. Johnson, Todd Grover, Eddie Watters, Greg Kelly and Chris Becze. 

Check out the Student Participants’ Resumes:  Click Here. 

DL’s Strike a Networking Success

Submitted by:  Sara Croot, Compass Bank

On Tuesday November 19th, the NAIOP Colorado Developing Leaders held their year-end Cocktails and Conversation event at the Lucky Strike in Belmar. With over 50 attendees, the evening kicked off with food, drinks and networking and evolved into a spirited night of competition as the DL’s dusted off their bowling shoes and hit the lanes. 
 
The event was open to all NAIOP members as well as non-members. It was an opportunity for DL’s to connect with their peers as well as those participating in the Mentorship program to connect with their mentors. The University contingent was well represented with many student members in attendance looking to connect with other industry professionals.

These are tough times for the Commercial Real Estate Industry and the year-end Cocktails and Conversations event was an opportunity to pay a significantly reduced registration fee to participate in the event. The NAIOP Developing Leaders program is open to any NAIOP member 35 years of age and under and the Colorado chapter’s inaugural year is coming to a close.  2009 will be full of opportunities to participate in educational events, an educational project tour and many additional networking and community development events.

The Cocktails and Conversation events will resume on a quarterly basis in 2009. Additional details will soon be available on the website with location and dates.

If you are interested in Developing Leader involvement or have questions about our program, please contact Jason Newcomer at Jason@urbanvillages.com or Sara Croot at Sara.Croot@compassbank.com.

To view additional pictures, please click on the link below:

Holiday Party to Benefit Denver Children's Home

Submitted by:  Monique Lowe, Herman Miller

The 2008 NAIOP Annual Holiday Reception will be held at the Brown Palace on December 9th from 5:00pm-7:30pm. A portion of each registration fee will benefit the Denver Children’s Home.  Attendees are also encouraged to bring additional monetary gifts – which will be used to purchase gifts from the Denver Children’s Home wish list!

The Mission of the Denver Children’s Home:   The Denver Children's Home's mission is to provide a therapeutic, safe place for emotionally distressed children, adolescents and their families to heal and grow.

The Purpose of the Denver Children’s Home: They care for Colorado’s abused and neglected children. They serve a significantly challenged population. 98% of the children at DCH come from families whose income levels are below federal poverty guidelines. By the time clients reach DCH, more than a third of them have been involved with the Juvenile Justice system, the majority has passed through the social services system, and most have failed in one or more academic and/or mental health settings.

Denver Children's Home:
• Provides the most effective, but least restrictive type of treatment based on the individual needs of each child.
• Progresses children, even those with the most serious disorders, through the levels of care and eventually return them home or to an alternative community-based setting.
• Offers a positive alternative to psychiatric hospitalization, combining intensive therapy, individualized academic support, and advanced drug treatments for biologically based mental illnesses.
• Helps children take ownership of their treatment; to understand their reactions and responses to life events, accept responsibility for their actions, control their behavior, and develop coping mechanisms for difficulties beyond their control.

In 2007, the NAIOP Colorado Chapter raised over $6,000 in donations and gifts for the Denver Children’s Home. We hope that you will join us again this year in making the lives of so many Denver Children that much brighter with the simplest of needs. Click here for more information or to register today.  Please also Click Here to watch this video to learn more about the Denver Children’s Home and what your help will support.

 

 

What makes a good broker/owner?.... Especially in today’s market

Submitted by: Greg Morris, President/CEO of Fuller Real Estate

On November 11, 2008, NAIOP Colorado hosted its monthly breakfast meeting with a powerful panel of speakers, including Peter Culshaw, Executive Vice President of Shea Properties, and Barry Dorfman, Senior Managing Director of Jones Lang LaSalle, Dave Naus, Principal of Equity West Investment Partners and Doug Wulf, Senior Vice President of Fuller Real Estate.  The event was held at the Downtown Marriot City Centerb with approximately 200 in attendance.  The format, after a brief introduction of these high profile, powerful and successful commercial real estate professionals, was series of questions relating to commercial real estate brokerage. Some of the highlights included the following:

Negotiation Seminar is a Hit with DLs

Submitted by Edmond Watters, Johnson Capital

On October 28, 2008 NAIOP’s Developing Leaders Group held its first annual Educational Event, a seminar on “How to be a Better Negotiator”.  The event took place at the Oxford Theater in the historic Oxford Hotel in downtown Denver.  There were more than 50 attendees for the four hour conference, which included a continental breakfast and refreshments throughout.   

The seminar was directed by Barry Elms, president of Strategic Negotiations International out of Boston, Massachusetts.  Mr. Elms is acclaimed by many as America’s business coach on negotiation skills.  He has been speaking for more than 20 years, and has given over 2,000 presentations worldwide.  His extensive client list includes General Motors, Ford Motor Credit, American Express, Verizon, Dell Computers, Shell Oil, and the Federal Reserve.

October Green Series Presentation: Future Trends

Submitted by Jeff Kroll, Frontier Renewal

The final series in the Green and Sustainable Development Educational Series on October 15th focused on Future Trends for Green Development. The featured speakers were Andre Pettigrew, Director of Economic Development for the City & County of Denver ; Lauren Yarmuth, Principal of YRG Sustainability Consultants; Matthew Wilson, Ph.D of CH2MHill, and Paul Kowalis, Market Manager for Xcel Energy.

The first five sessions in this educational series focused on various topics in Green and Sustainable Development, including economics, market demand, cost benefit, mechanics, and the LEED ND Program. This final session was designed to allow experts in the fields of design and development, sustainability, and energy production & consumption to forecast the future of sustainability and the impact on the commercial real estate industry.

Andre Pettigrew gave introductory remarks, and talked about how Denver has become a hot spot for Green and Sustainable Development.  Andre mentioned that Denver was one of seven cities in the nation selected by the Rockefeller Foundation to participate in a Green competition.  This competition is designed to promote the use of Green & sustainable buildings practices, and ultimately reduce energy consumption.  Andre was very insightful, and stated that while the City and the Mayor’s Office were focused on building all future municipal buildings to achieve LEED certification, that local economic development and planning entities needed to work proactively with building owners and developers to create incentives for the private sector.   

Lauren Yarmuth currently serves on the national board of directors for the USGBC, and sits on the LEED steering committee.  Lauren talked about changes in the LEED 2009 accreditation system, and that it would be more focused on operations than previous LEED rating systems, and that innovation and regional energy concerns would play a larger role.  Lauren made the correlation between the nutritional content of food products to the commercial building industry.  She pointed out that more and more employees and tenants were demanding to know the quality of the air and water in the places they lived and worked, and the potential impacts to both their personal health and the environment.  Lauren talked about climate change, land planning, and transportation, and that the next generation of consumers is much more socially conscious and choosing brands that align with their social causes.

Matthew Wilson’s presentation focused on climate change and energy constraints, and how energy supply and demand were impacting global markets and politics.  He analyzed the history of energy supply and demand, and the correlating effect on the global climate.  He talked about the incredible potential and opportunities for renewable energy sources, but also talked about the difficulties and constraints related to these renewable sources.  Matthew explained how decreased energy usage increased economic efficiency, and that this dynamic would be the ultimate driver in the reduction of energy consumption rather than social concerns.  He explained how opportunities for improved energy efficiency exist today, and that future technologies will also have an impact on the supply and demand of current energy sources.

Paul Kowalis built on the energy supply and demand topics that Matthew presented, and explained how and why Xcel Energy was focused on reducing energy consumption by it’s customers.  Paul explained how reducing consumption was not only good for the environment, but also good for energy prices.  He talked about legislative pressures facing the public utility companies, and why Xcel Energy was recognized as an environmental leader because of their voluntary energy reduction and conservation programs.  He explained how Xcel was incorporating more renewable energy, and also addressed the challenges of renewable sources, such as transporting the power generated by wind energy back into the grid and into the major population centers.  Paul also highlighted some of Xcel’s programs, where Xcel helps customers to identify areas for improved energy efficiency and the financial incentives and rebates available to help their customers to capture these efficiencies.

October Breakfast Recap: Downtown Denver Retail Hotspot

Submitted by:  Susan Stanton, CLC Associates, Inc.

Four well versed speakers discussed the downtown retail environment from different perspectives:  one from the community perspective – Tami Door, Downtown Denver Partnership; another as a downtown residential developer and civic leader – Mike Zoellner, Red Peak Properties/DDP Retail Task Force; one from a tenant – Alan Lewis, Natural Grocers by Vitamin Cottage; and one from the most recent downtown retail acquisition – Mark Slidell, Gart Properties.

During the course of the discussion, Tami Door presented the following facts:

•  Downtown population: 63,000 residents within a 1.5 mile radius
•  CBD, LoDo & CBV population: 10,000 residents
•  Workforce: 110,000
•  Pedestrian counts, summer 2008: Over 30,000 pedestrians on 16th Street Mall on a weekday.
•  Auraria Campus & Emily Griffith Opportunity School:  Over 55,400 students, faculty & administrators
•  Visitors, 2007: 12.2 million

Tami and Mike discussed the downtown area plan and the Downtown Denver Partnership’s retail task force.  Some highlights include:

•  Reinforce existing retail centers and/or develop new retail clusters
•  Establish retail management plan for 16th Street Mall between Welton and Curtis Streets
•  Develop a public market – a regional destination
•  Implement marketing plan for Downtown retail
•  Encourage neighborhood-serving retail in every district

Downtown Denver’s seasonal shopping pattern is a bit of an anomaly when compared to traditional retail trends.  Currently, Downtown Denver does not experience spikes in retail sales tax revenues during the holiday season.  Civic leaders are looking to change this pattern.

Alan Lewis from Vitamin Cottage talked about their decision to locate in Downtown Denver (near the Highlands neighborhood).  One of the most interesting differences, he noted, between their downtown location and other sites is that their customers are more transient (i.e. convention visitors, downtown residents) moving in and out, as well as downtown workers.  The company is also seeing a trend that indicates their shoppers spend less on each visit, but visit more often.

The program ended with a recap of the Gart/ING purchase of the Denver Pavilions.  The Pavilions project is reaching its ten year anniversary.  Gart Properties intends to make major changes in the center targeting new retailers and creating a more inviting environment.  The convention center hotel and other major investments around the Pavilions are creating an opportunity that will serve to help re-energize the center.

Urban infill retail is one area that is still seeing national retailer activity.  Downtown Denver has come a long way in the last three decades.  Major new investments and civic leadership will continue to drive the agenda for our downtown.

Record Breaking Attendance at the 2008 Metro Denver Virtual Property Tour

Submitted by Marty Slaught, Fuller Real Estate

The annual NAIOP Colorado property tour was held on September 9th without using any buses, light rail trains or walking shoes.  This year’s property tour was a Virtual Tour followed by a cocktail party held at the Newman Center for the Performing Arts at the University of Denver. 

This years Property Tour was a huge success with attendance of over 350, the largest ever attendance in the 22-year history of the Property tour.  There were 34 properties presented, including 3 live presentations on major new projects and 31 custom-produced videos, along with 5 live presentations by the largest economic development organizations in the Denver metro area, all in only 2 hours.  Compared to the traditional 6-7 hour bus tours, we presented twice as many properties in only 2 hours.  The cocktail reception following the virtual tour was one of the best of the year, with great food, a first class location and fun networking.

This multimedia event was made possible only because of the participating property owners and sponsors.  NAIOP Colorado and the Property Tour Committee would like to sincerely thank every property owner and sponsor for their enthusiastic participation in the 2008 NAIOP Metro Denver Virtual Property Tour. 

Miss the tour?  Click Here to order your copy of the Virtual Tour DVD today or contact the NAIOP office at 303-782-0155.  Click the link below to view pictures of the event.

September Green Series Presentation: Sustainability on a Large Scale

Submitted by Dan Cohen, Catellus

The September 17th Green Series presentation(Session 5 of 6) focused on sustainability approaches to large scale development. The featured speakers were Drew Torbin, Manager – Sustainability for ProLogis; Dan Cohen, Vice President of Planning and Development for Catellus; and Pat Dawe, Associate Principal and Director of Urban Design for RNL.

Sustainability and green design is most commonly discussed with regard to building design and energy conservation. This session was designed to provide information regarding sustainability programs, practices, and trends pertaining to large-scale development involving design and construction of multiple buildings and related infrastructure. The program introduced the LEED for Neighborhood Development rating system, discussed trends supporting sustainable development, and addressed an approach to carbon footprint reduction. 

Drew Torbin outlined the U.S. Green Building Council’s new LEED for Neighborhood Development (LEED-ND) program designed to provide recognition for sustainable projects involving land development and multiple buildings. Currently in its pilot phase, LEED-ND credits are organized in three main categories: Site Location and Linkage; Neighborhood Pattern and Design; and Green Construction and Technology. The program is weighed towards development on infill sites, mixed-use and transit-oriented design, green buildings, on-site energy generation and other environmental techniques. Drew explained how green urban design aims to promote both environmental quality and public health by discouraging dependency on the automobile while promoting walking and cycling.

Dan Cohen offered a definition of sustainability related to large-scale development that is inclusive of more than energy conservation, but that also addresses site selection, economic development impacts, diversity, affordability, quality design, pedestrian friendliness, and environmental remediation, amongst other factors. Dan argued that there is increasing demand for mixed-use, infill, sustainable development and this is the development pattern of the future based on five major trends we are witnessing: 1) Growing awareness of “green” amongst the general public; 2)Changing land use patterns; 3) Changing macro-economic patterns; 4) Public sector regulatory demands; and 5) Increasing demand from tenants and customers.
 
Pat Dawe presented findings of his research showing the correlation between LEED-ND credits and reduction in a development’s carbon footprint. He argued that this is a growing and perhaps more effective tool for measuring environmental performance.  The relationship between LEED-ND and carbon footprint is strong, as both tools evaluate environmental consequences of commuting, building operation, site performance and other factors. However, Pat explained how attaining zero carbon emissions would require the integration of all potential environmental planning and design techniques offered by LEED-ND.  Pat encouraged building professionals to use and exceed LEED-ND credits to measure progress toward zero carbon development.

DL's Celebrate Mentoring Program

Submitted by: 

Edmond Watters, Johnson Capital

The second annual NAIOP Developing Leader Mentoring Program is now in full swing.  The commencement of the Innagural Class of 2007–2008 and the kickoff of the 2008–2009 program was held on Thursday, August 21^st.  After a very successful first year, applications for the second year doubled and NAIOP has every reason to believe the program will flourish going forward.

The event was held on the fifth floor veranda of Herman Miller, at

1899 Wynkoop Street

.  The space affords great views of downtown, including Coors field only a block away.  There was excellent attendance from both first and second year participants in the Program.  It is refreshing to see a mix of seasoned real estate professionals and Developing Leaders conversing at a real estate event.  While there is no doubt the mentors will be able to help the mentees in countless ways, it is the committees’ hope and expectation that the mentees will also be able to add value to the relationship, and NAIOP as a whole.

17th Annual Brokers Benefiting Kids Event was a big success

Submitted by Morgan Landers, Brownfield Partners, LLC

For those of you who were able to attend BBK this year, you undoubtedly had an amazing day! This was my first time attending the event, and like many others, I was surprised and excited by the amount of people that have made this event so energetic and entertaining.

NAIOP's team had 13 participants this year from the sponsoring companies which gave everyone the opportunity to play if they wish or live out their dreams of being a cheerleader for the greatest professional Bocce Ball team in the country...NAIOP!

The Developing Leaders committee would like to thank the sponsoring companies and are excited to further strengthen our participation in this event in the future. The charities that benefit from this event are critical components of the growth and development of Denver's children and NAIOP is happy to contribute to such a great cause and have a lot of fun at the same time.

Thank you to our NAIOP sponsor companies!

Andrea Ackerman
Stacey Hekkert, Anton Collins Mitchell
David Owen Tryba Architects PC
Melissa Hirst, Franke Greenhouse List & Lippit
Chandra Downey, Galloway
Herman Miller
Land Advisors Organization
Dan Metzger, Lowe Enterprises
Mile High Banks
Stephen Bryant, PSI
Security Title Guaranty Co
Turner Collie and Braden
University of Denver
Vector Property Services, LLC
Zions Management Services Company

We hope that more companies will be able to participate with NAIOP next year!! For your enjoyment, click on the link to continue the story and take a look at some of the live-action-shots straight from the camera of our own DL Committee Chair, Monique Lowe.

CREW Denver 9th Annual Women of Influence Awards

submitted by: Kathy Thurston, The Private Bank

On October 23rd, CREW Denver will hold its 9th Annual Women of Influence Awards event at the Grand Hyatt from 11am to 1pm.  This signature event honors accomplished women from the field of commercial real estate in four award categories including the Woman of Influence award.  A number of NAIOP members and member firms have been nominated for the 2008 Women of Influence Awards and in October, past Woman of Influence award winner, Mary Sullivan, CB Richard Ellis, will present the title award to this year's Woman of Influence.  For more information on how to register to attend or sponsor this exciting event please visit www.crewdenver.org and click on the Women of Influence button.

The Mechanics of Sustainable Development: Design, Construction and Operation

By: Tom Hootman, RNL

The fourth segment of NAIOP Colorado’s six-part Green Series was held on August 20th and featured Courtney France of France Sustainable Solutions and Katherine Wagenschutz of CTG.

The segment was divided into three sections. The first section featured Courtney France discussing how to integrate LEED into new construction projects. Then Katherine Wagenschutz discussed how to integrate LEED into existing buildings. The two presenters finished the presentation by tag teaming a discussion on their top ten recommendations for the group in pursuing LEED and green buildings.

Courtney and Katherine’s Top Ten Recommendations:
1. Education & Training
2. Determine Rating System or other Metric to measure success
3. Prioritize Environmental Goals
4. Integrate Key Consultants (& prequalify them!), dedicate Champions
5. Risk Management for Sustainability
6. Use your vendors
7. Integrate reports with current reporting structure
8. Understand the relationship with tenants
9. Create high level understanding of building operations
10. LEED EB is a part of the journey

Please click here to download a copy of the presentation.

Please click here for more information on the LEED rating system. 

Please plan on attending the fifth segment of the series, titled “Sustainability on a Large Scale” Mixed-Use & Infill Development”, on September 17th. Speakers will include Drew Torbin from ProLogis, Daniel Cohen from Catellus  and Pat Dawe from RNL. Please click here for more information on the Green Series and to register for the next event.

Local Company from Golden, CO wins National NAIOP Green Development Award

Projects to be honored at development ‘08: the annual meeting for commercial real estate

The National Association of Industrial and Office Properties (NAIOP), the nation’s leading organization representing the interests of commercial real estate executives engaged in industrial, office and mixed-use development, announced that it has selected two development companies as the recipients of its annual Green Development Award.

Aardex LLC of Golden, Colo., is being recognized for its speculative project, The Signature Centre, while Hamilton Partners is being honored for its build-to-suit project, HSBC-North America Headquarters, in Mettawa, Ill.

The award will be presented during a special ceremony sponsored by Liberty Property Trust and Swinerton Inc. on Tuesday, October 21, at NAIOP’s development ‘08: the annual meeting for commercial real estate, in Las Vegas.

“These projects continue to symbolize the innovation, creativity and sustainable approach that our members are utilizing to develop model properties,” said NAIOP President Thomas J. Bisacquino.

Click here to read the full announcement.

August 12th Breakfast Meeting Recap – “2008 Election Update”

Submitted by Bob Moody, Executive Director Legislative Affairs, NAIOP Colorado

The August 12th monthly breakfast focused on the upcoming election and featured a presentation by Republican Senate nominee Bob Schaffer.  Mark Udall, the Democratic nominee was also invited but was unable to attend. 

Congressman Schaffer gave a brief presentation on his candidacy stressing his commitment to limited government and the freedoms he believes make our country strong.  NAIOP President John Ellis followed with several questions for the candidate focusing on national issues of importance to NAIOP and its members.  In general, Congressman Schaffer supports the Chapter’s positions on capital gains taxation, carried interest taxation at capital gains rates, rather than as ordinary income, support for water storage, changes to the current environmental protection laws, and our position on eminent domain.

Rick Reiter of Coloradan’s for Responsible Reform, who is heading the campaign against the four labor-backed initiatives, then spoke briefly about the campaign.  Click here to read a summary of the initiatives and what their potential outcome would be.  The four initiatives are as follows:

- Amendment 74: Criminal Liability
- Amendment 76: Just Cause
- Amendment 92: Mandatory Health Care
- Amendment 93: Safe Workplace

Passage of any one of these initiatives has been described as “disastrous” for the business community and rumors abound about major companies either leaving the State if these measures pass, or delaying discussions about relocation pending the outcome.

Coloradan’s for a Stable Economy representative, Mike Beatty of Beatty & Wozniak Energy Law, followed with a very well done and impassioned plea to vote “no” on the Severance Tax ballot initiative being promoted by Governor Ritter.  Beatty, a Democrat, discussed the amendment and its effects and urged a “no” vote.  NAIOP Colorado has taken this same position on the initiative.  Click here, to view Mike Beatty’s presentation.

If you have questions, comments or concerns regard these initiatives contact Bob Moody (rmoody@wmrdenver.com) at (303) 782-0155.

 

Apply NOW for the 2008 Transit Alliance Citizens' Academy

The Transit Alliance Citizens’ Academy is a program that will host a maximum of 50 participants over 7 weeks to discuss the complexities of combining transportation and community development to support the regional success of Transit Oriented Development (TOD) in the Metro Denver area.

Metro Denver is emerging as THE learning laboratory for revitalizing our communities through the development of a multi-modal transportation infrastructure.  NO ONE else is in the nation is doing what we are here in Denver.  Thanks to our voter support of FasTracks in 2004, we will have more than 90 transit stations in the metro region in just 9 short years.

To read more about this exciting opportunity available to proven leaders and to apply to participate, click here.

It'n not too late to get involved with BBK!

It's not too late to get involved with BBK. With the long awaited event just 3 weeks away, the NAIOP Developing Leaders Committee is looking for your participation. The Brokers Benefiting Kids event has over 20 teams registered this year which means that hundreds of commercial real estate professionals and the like will be there. Don't miss your chance to attend this great event that benefits one of the most important groups of people....Denver's Kids!!!! Money raised at this event will be dispersed to over 25 organizations that help Denver's kids on a wide variety of levels.

The half day event is on August 23rd and NAIOP team participation fee is only $250! If you can't be there the day of the event...don't worry, these charities still need our help and your company's donation is appreciated.
Deadline for recognition at the event is this Friday (August 8th) so don't delay!!!

What you get:
1. Opportunity to attend the event.
2. Recognition on a banner at the event.
3. Recognition at various NAIOP events.
4. Recognition in the Colorado Real Estate Journal.
5. The satisfaction that your company gave back to the community that supports it!!

Thank you to these registered NAIOP Team Participants, it will be a great day!!

Herman Miller
Starr Realty
Mile High Banks
Land Advisors Organization
Vector Property Services, LLC
Security Title Guaranty Co
Galloway
Franke Greenhouse List & Lippit
Lowe Enterprises
Zions Management Services Company
Anton Collins Mitchell - Stacey Hekkert
National Valuation Consultants
PSI

For more information on how you can participate, please contact Morgan Landers (morganr.landers@gmail.com) or click here.

Chapter raises over $5K for Gates Camp

Submitted by:  Mark Cheeks, Ware Malcomb

Each year, we at NAIOP Colorado support the Boys and Girls Clubs of Metro Denver by spending a half day prepping the Gates Camp.  Gates Camp is a beautiful 80-acre camp in the Indian Peaks Wilderness area that was developed for and continues to provide a wilderness experience for inner-city children for a minimal fee.

Saturday, June 7, 2008 was the eleventh annual Spring Work Day for NAIOP.  The 35 volunteers from our Chapter met at the Broomfield Park and Ride for a light breakfast and rode the chartered bus up to Indian Peaks.  About ten of the camp counselors volunteered their time as well.  Tyler Edmonson, the camp’s director was eager to get going on the projects that they had lined up for the volunteers.

The camp depends on this group of volunteers each year.  This half-day of work that the volunteers give the camp is like having 15 people spend a 40-hour week on the multiple projects.  While the work was the primary focus, other added bonuses were: networking in an unconventional setting up in the mountains, enjoying a beautiful day, the bus ride back and forth is a gorgeous ride and the food and the drinks taste that much better after a hard day’s work.

This year the Community Relations Committee thought it would be a good idea for to give an opportunity to those individuals who could not make the trip to contribute in other ways.  So, the Chapter set a goal to raise $5,000.00 to sponsor the camp for a full week.  The donations raised added up to $5,700.00.  NAIOP presented the money to Amy Robinson, the VP of Development for BGCMD at the July monthly breakfast meeting.  It was a great goal to set and we hope to raise even more in the future.   Thank you to all the volunteers and those individuals and/or companies who donated this year.  As the camp cheer goes:  Heepwah!

Market Demand for Sustainable Development

Submitted by:  Daniel Pabon, Holland & Hart

The third segment of NAIOP Colorado’s six-part monthly Green Series was held on July 16th in Downtown Denver and featured keynote speakers T. Armory Host from Peak Solar and Tim Swan from CBRE, who talked about the market demand for sustainable development. 

Mr. Swan emphasized his work with the Signature Centre in Golden, while Mr. Host delved into the economics of solar energy applied in the residential setting.  Subject matter included tax incentives, return on investment models, and cost-savings analysis.  To view Mr. Swan’s and Mr. Host’s presentations, click here.  

The fourth segment of the series titled “The Mechanics: Design, Construction and Operations” is scheduled for Wednesday, August 20th and will cover a broad range of topics including economic, technical and  political trends of sustainable development.  For additional information or to register, click here.

CREW Women of Influence Award Nominations now Open

Attention Developers, Brokers & Owners: Now is your chance to recognize an outstanding woman in the field of commercial real estate.  CREW Denver's 9th Annual Women of Influence Awards Luncheon will be held October 23rd and CREW is seeking nominations for individuals, teams and companies who have made a difference in our industry.  This is an awards lunch for industry professionals and not just CREW Members!  Award categories are: Women of Influence Award, Team Award - The Women Who Make the Deal, Champion Award and Rising Star Award.  Nominations are open for a limited time!!!  Please submit your nominations at www.crewdenver.org/woi/nomination.htm.

COMMERCIAL REAL ESTATE MARKET FORECASTED

July 8, 2008

Submitted by:  Todd Grover, Sr. V. Pres. Compass Bank

Today, NAIOP Colorado hosted a panel of top Denver brokers to forecast the market for commercial real estate.   

First, Frank Kelly, Office Leasing Broker at CB Richard Ellis, commented that 16 consecutive quarters of positive absorption have reduced vacancy rates on office buildings to 12.9% in Metro Denver.  These lower vacancy rates have driven the average lease rate up to $20.93.  The hottest of the office submarkets is downtown with a vacancy of only 11.2%.   Although there are major commercial projects planned, Kelly predicts that an increase in interest and expense rates, combined with higher construction costs, will slow construction.  He further predicts that rental rates will continue to increase, but taper to levels only slightly above inflation.

Bill Thompson and Jim Bolt, industrial leasing brokers at CB Richard Ellis addressed the future of the industrial market.  The duo believes that vacancy is likely to increase, despite construction of new product being off of the record levels experienced in 2006 and 2007.  Zero to moderate rent growth is expected from the sector.  Construction costs in this sector also continue to increase, which will lead to lower new construction starts as well.  Bright areas include the energy and renewable energy sectors; both industries continue to absorb space in Denver.  Other trends that Thompson and Bolt see continuing are a shift from core assets to value added assets and a tendency for developers to focus on in-fill industrial sites for non-industrial uses. 

David Fried, Retail Broker for Fuller Real Estate, predicts that “times will get tougher before they get better”.  The added expense of gas is reducing discretionary income of the consumer and is hurting retailers.  This, in combination with difficult credit markets, will slow all but the best located retail development.  Rents will flatten and possibly decline.  Projects noted for likely success are The Streets at Southglenn, Cornerstar, and River Point and any retail located in the Colorado Blvd/Cherry Creek area.  Conversely, projects in the northeast part of Denver are predicted to struggle.

NAIOP COLORADO TEAM OFF TO A GREAT START!

Submitted by Morgan Landers, Brownfield Partners, LLC

This year, the NAIOP Colorado Developing Leaders Committee has taken the lead in organizing a NAIOP Colorado team to participate in the 17th Annual Brokers Benefiting Kids event on August 23, 2008. Industry professionals from all over the Denver Metro area gather to participate in this crazy field day and this year proves to be even more competitive than the last.

This event is a great way to network with not only other NAIOP Colorado members, but other industry professionals as well. The NAIOP Colorado DL committee is inviting all NAIOP Colorado member companies to participate on the team. The team participation fee is only $250 per company and you can bring as many people from your company as you like.  Special recognition will be given to each company participating on the NAIOP team.

For more information or to participate on the NAIOP team, click Here (link to www.bbkdenver.com). Payments can be made by mailing a check or by credit card online. Be sure to list NAIOP Colorado as your team name.  If you have questions, please contact Morgan Landers (link to morganr.landers@gmail.com).

COME SUPPORT DENVER KIDS AND NAIOP DURING THIS AMAZING FUN-FILLED EVENT!!!

McWhinney Named in Top 50 Workplace List

McWhinney has been named #11 of the 50 Best Small & Medium Companies to Work for in America. The list was announced today before an audience of more than 15,000 at the Society for Human Resource Management's (SHRM) 60th Annual Conference & Exposition in Chicago. In 2007, McWhinney ranked #13 of the top 25 small companies in America.

This annual list, now in its fifth year, ranks the top 25 small and top 25 medium-sized companies in America that use smart people management strategies to develop successful organizations with highly productive and satisfied workforces. The organizations, ranging in size from 50 to 999 employees, were announced by SHRM and selected and ranked by the Great Place to Work® Institute (GPTW). The results were based on a randomly distributed employee opinion survey. Each company evaluated was given a score based on employees' responses to a detailed questionnaire about the organizations' workplace cultures.

McWhinney, headquartered in Loveland, Colorado, is a team of talented people who are passionate about creating great places for people. For over fifteen years, the company has developed innovative and sustainable master-planned communities and vertical commercial and mixed use projects.

"From the humble beginnings of being a strawberry stand owner with my brothers, to now having McWhinney stand for over 75 incredible associates working towards making the world a better place, it is with much pride that we accept the honor of being named the 11th greatest place to work in America," said Chad McWhinney, Co-Founder and CEO – McWhinney.

"This award is a tribute to the dedication and innovation of all the associates who work at McWhinney who have succeeded even in the face of tough economic times," said Troy McWhinney, Co-Founder & Principal, McWhinney. "Each of our associates carries the torch of our culture in their commitment to continuous improvement, fabled service, and excellence."

Sustainable Development: The Economics (Part I) Explored in NAIOP Colorado's Green Series

By: Ryan Chamberlain, FirsTier Bank

The second segment of NAIOP Colorado’s six-part monthly Green Series was held on June 18th in the Wells Fargo Center located in Downtown Denver.  The featured keynote speaker for this segment was Alan Whitson of Corporate Realty Design Management Institute.

“The Economics – Part I: Cost, Benefit & Value” was the topic for segment two.  Mr. Whitson discussed the various components of how to construct and/or retro-fit buildings to become sustainable.  Subject matter included lighting, thermal efficiency, HVAC systems and water management.  These “best practices” were utilized in real world scenarios to show how sustainability is achievable and how to increase your ROI.  Please click here to view Mr. Whitson’s power point presentation.

The third segment of the series titled “The Economics – Part II: The Market” is scheduled for Wednesday, July 16th will feature T. Armory Host from Peak Solar, Matt Stokes from Continuum and Tim Swan from CBRE.  Topics will include economic framework, market demand, pro forma, building valuation, green leases and investing.  Please click here for the Green Series programming information or to register for the next event.

The racers were "off" at the Annual "Inverness 500" Golf Tournament

Under sunny skies and a well groomed “track”, the annual “Inverness 500 – Need for Speed” was held, with a new speed record of five hours, five minutes etched into the record books.  With few “cautions” and no rain delays, the field recorded an impressive split time of two hours, three minutes for nine holes!

The starting grid was full with 132 racers vying for the ultimate prize – a jug of ice cold milk. Mark Biagiotti’s SDA team, running in the red # 28 carts bested the field with a combined shamble score of 128, or 12 under par.  Coming in just a “car length” behind was the Key Bank team in the blue # 86 carts led by Lane Hamilton, who with a combined score of 129 bested the Johnson Capital group entry led by Charlie Babb in the black # 3 carts. The Key Bank team edged the Johnson Capital team, who had the same “time” of 129, by the front wheel of their golf cart  - the thinnest of margins!

Team SDA celebrated with the ceremonial chugging of the milk – a Need for Speed tradition. While Team SDA basked in the “winner’s circle”, the real winner was the National PAC, which was the recipient of more than $2,700 in proceeds from the sales of “space tires” (mulligans) and “extra gas” (Tiger drive sales).  Hats off to a dedicated team of “track volunteers”, who manned the pit crew and pace carts, to make the afternoon safe and enjoyable for all who participated.

Finally, a big thank you to the Developing Leaders, led by Monique Lowe, who coordinated the involvement of several DL’s that assisted in making the afternoon a tremendous success. 

The goal for next years “race” is a sub five hour pace.  The “track” and the safety and pace crews will be ready!

A Message from John Ellis, 2008 NAIOP Colorado President

As the year approaches the half way mark, now is a perfect time to pause and reflect on 2008 and the successes and opportunities NAIOP Colorado enjoyed.

As one of over 55 Chapters internationally, and well over 16,000 members, NAIOP remains a leader in the Commercial Real Estate Industry.  Our mission on both the broad scope, as well as locally, remains to serve Developers, Owners and Professionals involved in Commercial, Industrial and Mixed Use Real Estate.  We remain committed to our industry by supporting diversity, providing educational opportunities and advocating for sensible legislation that benefits the communities where we work and live.

Locally our Chapter takes pride in being the “Voice of Commercial Real Estate”.  We are often referred to as the three legged stool of Networking, Education and Legislation.  Our existing structure serves these three legs well.

The Colorado Chapter has seen fantastic growth in the last year.  Led by our Membership Chair, Craig Poulter, and his committee, we currently have over 810 members which ranks us as the 5th largest chapter nationwide.  We are especially proud of the fact that 22% (180+) of our Membership is made up of the under 35 Developing Leaders Group.  This segment of our Membership has shown its own independent energy by creating, within our framework, networking opportunities, educational forums and becoming involved legislatively.  The Chapter is especially proud of the first year of the Mentor/ Mentee Program and its success.  Our entire Developing Leaders (DL) Program was recognized as the Most Outstanding at the NAIOP Leadership Retreat held in Washington, D.C in February.

Transformation of a Denver Icon - Union Station Redevelopment Update

by Cyd Petre, CoBiz Financial

Members and guests at NAIOP’s June 10th breakfast meeting, held at the Marriott City Center, were provided rare insight into the inner-workings of the Public/Private partnership to redevelop Denver’s Union Station and the surrounding area, through a panel of presenters introduced by Bob Blodgett of R.S. Wells LLC.

The panel included Bill Sirois, Manager of Transit Oriented Development for RTD; Ellen Ittelson with the City and County of Denver Planning Department; and Frank Cannon, the Development Director for Continuum Partners, representing Union Station Neighborhood Company, a joint venture between Continuum and East/West Partners, and the “Private” portion of the public/private partnershipf.

NAIOP Colorado members - we are officially on LinkedIn!

What is LinkedIn?

LinkedIn is an online network of more than 20 million experienced professionals from around the world, representing 150 industries.

When you join, you create a profile that summarizes your professional accomplishments. Your profile helps you find and be found by former colleagues, clients, and partners. You can add more connections by inviting trusted contacts to join LinkedIn and connect to you.

For those that already have LinkedIn  profiles you can search for our network by typing NAIOP Colorado in the search area. If you want to set up a LinkedIn profile you can follow this link and do so: https://www.linkedin.com/secure/register?trk=hb_join

We will be sending out an invitation to join the NAIOP Colorado group in the coming month if we do not see you in the network.

 

University of Denver wins 6th Annual Rocky Mountain Real Estate Challenge

by Jonathan Brahmer

In a matchup culminating months of hard work, two student finalist teams competed in the 6th Annual NAIOP Rocky Mountain Real Estate Challenge on May 7, 2008 at the Marriott City Center Downtown. In front of a crowd of over 600 real estate professionals, government officials, educators, students, and friends, the six-student team from the University of Colorado, Leeds School of Business and the six-student team from the University of Denver, Franklin L. Burns School of Real Estate and Construction Management each presented their vision for the development of “Brookfield Plaza at Tremont”—consisting of Blocks 173, 196, and 197 located at 15th and Tremont in Downtown Denver.

In a full day of competition, which included presentations and a question and answer period with a panel of judges consisting of real estate experts and the evening’s final presentations to the entire audience, the best and brightest from both schools presented their plans. At the evening’s main event, Denver Mayor John Hickenlooper gave the opening speech, commending Brookfield Properties and NAIOP for their commitment to higher education and the learning process, and praising the students for their hard work as they are to become the future leaders of our community. Also in attendance to introduce the student teams and announce the winner was long-time supporter of the Challenge, and President of the Metro Denver Chamber of Commerce, Joe Blake. Master of Ceremonies for the event was the NAIOP Challenge Committee Chair, Kathy Thurston of CoBiz Financial.

Energy Policy Released by NAIOP; Urges Commercial Real Estate Community to Increase Energy Efficiency

Statement on Energy Efficiency in Commercial Development Announced by NAIOP
Commercial real estate organization commits to helping reduce energy usage in commercial development

Washington, D.C. — The National Association of Industrial and Office Properties (NAIOP), the leading trade association for developers, owners, investors and other professionals in industrial, office and mixed-use commercial real estate, today announced an official association policy on energy. 

In a proactive approach to engage its members and the commercial development industry in advancing an economically prosperous and sustainable built environment, NAIOP commits to:

· Encourage the real estate development industry to employ every technically feasible, cost-effective, sustainable strategy available to increase energy efficiency of new and existing buildings, and to employ cleaner, low carbon energy alternatives (including onsite energy), wherever possible.
· Advance public policies that accelerate ongoing energy efficiency and sustainability gains; support cleaner (including onsite) energy alternatives; and promote, wherever practical, less carbon intensive transportation options to and from buildings.
· Engage in educational programs, seminars and conferences to help employ best practices for energy efficient development.

The entire statement can be found at:  http://www.naiop.org/greenresource/energypolicy.cfm.

 

Developing Leaders Tour Gateway Station in Golden

by Edmond Watters, Johnson Capital

On Thursday May 15^th, NAIOP Colorado’s Developing Leaders (DL) Group participated in its inaugural property tour.  After careful consideration of several projects by the DL committee, NexCore Group’s exciting Gateway Station project in Golden was chosen.  There was good attendance by the DL’s, and their overwhelmingly positive feedback has deemed the event a success.  The reasons for choosing this project & developer are important, and made for a great first property tour. 

Governor Ritter Helps NAIOP Colorado Kickoff Green Series

by Abe Laydon, Fairfield and Woods, P.C.

The first segment of NAIOP Colorado’s six-part monthly Green Series was held on May 21^st in downtown Denver.  Colorado Governor Bill Ritter provided an introduction for the educational series, which will examine the entire life cycle of sustainable development.

“The Green Wave…Are You Riding It?” was the topic for the first series meeting and included discussion on topics such as: Colorado’s political stance as it relates to sustainable development; impacts on the environment; an introduction to LEED; and an overview of the costs and benefits of green building.

Featured speakers were Rocky Scott of McWhinney Enterprises; Renny Fagan, the State Director for Senator Ken Salazar’s Office; Tom Plant from the Governor’s Energy Office; Tom Hootman, Director of Sustainability at RNL Design and President of the Colorado U.S. Green Building Council; and Melissa Knott, Director of Sustainability, Forest City Stapleton.  To view the speaker presentations, Click Here.

The next segment of the series “The Economics – Part I: Cost, Benefit & Value” is scheduled for Wednesday, June 18^th and will feature Alan Whitson of Corporate Realty Design Management.  Click Here for Green Series programming information or to register.

Colorado Developing Leaders Launch Webpage

by Edmond Watters, Johnson Capital

The Developing Leaders Committee is proud to launch the official Developing Leaders (DL) web page.  The web page is a micro site of the NAIOP Colorado Chapter’s web site, and contains information specifically tailored to the DL Program.  All DL members are encouraged to visit the site frequently to find out information about upcoming events.  This will be the best way to stay connected with what’s going on with the DL Program.  Click Here to visit the DL web page and make sure you don’t miss out on anything!

The left hand side of the web page is identical to the main NAIOP Colorado web site.  The right hand side contains information that is specific to the DL’s, including upcoming events, a comprehensive calendar of events, information on the mentoring program, and links to the DL weblog and the NAIOP National DL web page.  The center of the page will provide general information about the DL activities including education, community outreach, and networking programs, as well as articles on recent events.

A unique feature of the DL web page is the DL Member Spotlight – an in depth profile on local Chapter DL members that will be updated monthly.  This is an excellent business opportunity for DL members to get exposure to the entire group of Developing Leaders.  Our current DL Member Spotlight features Deidra Gonzalez, Co-Chair of the local DL Program.  Click Here to learn more about what Deidra is involved in.  If you are a DL member and would like to submit your personal profile, Click Here.

The DL Committee invites any feedback you may have on the web page.  You will find a Suggestions & Comments link on the DL web page.

Two Recent Green Building Studies confirm LEED and ENERGY STAR Buildings Deliver High Performance and High Value

By Tom Hootman, RNL / USGBC Colorado

Several weeks ago, the U.S. Green Building Council put out a press release announcing the release of two new studies on LEED and ENERGY STAR buildings. The two studies demonstrate that LEED and ENERGY STAR buildings outperform conventional buildings in energy savings, occupancy rates, sales price and rental rates.

The National Buildings Institute (NBI) study compares the energy use of LEED and ENERGY STAR buildings to conventional buildings and found that on average LEED buildings generated energy savings of 25 to 30% compared to conventional buildings, with LEED Gold and Platinum buildings approaching energy savings of 50%. The complete NBI study can be found at: https://www.usgbc.org/ShowFile.aspx?DocumentID=3930

The CoStar study compares rental rates, occupancy rates and sales price of LEED and ENERGY STAR buildings to conventional buildings and found that LEED buildings generate rent premiums of $11.33 per square foot over conventional buildings with a 4.1% higher occupancy rates. ENERGY STAR buildings also generated value with rent premiums at $2.40 per square foot and occupancy rates 3.6% higher than conventional buildings. LEED buildings are selling for $171 per square foot MORE than conventional buildings and ENERGY Star buildings are selling for an additional $61 per square foot over conventional buildings. The complete CoStar study can be found at: http://www.costar.com/partners/costar-green-study.pdf

 

NAIOP has 11 year history of working with Boys and Girls Club of Metro Denver

by Mark Cheeks, Ware Malcomb

NAIOP is coming upon its 11th year of working with the Boys & Girls Clubs of Metro Denver (BGCMD) by preparing the Gates Camp in the Indian Peaks wilderness area for its Summer Campers.  It has been a rewarding contribution and a way for NAIOP to give back to our community.

The connection to BGCMD started with an idea 12 years ago by a small group of people on the NAIOP board:  Jim Mulligan, Bob Moody, Matt Smith, John Shaw and Tracy Wilkes.  They were looking for way to get NAIOP more involved with the community.  Wilkes was at a retreat with the Washington Chapter of NAIOP and heard that Seattle was reaching out to their community by getting involved with the Boys & Girls Clubs there.

Upon returning to Denver the BGCMD was contacted and John Matthews, the Camp Director, had some great ideas of how NAIOP could help.  There were originally two trips planned a year.  The larger capital projects were worked on in the fall by Contractors volunteering their time and donating their machinery and construction materials.  The large projects included such things as winterizing the cabins, window replacement and insulation so that they could be used in the wintertime, a heavy-timbered fence, a basketball court, and most recently the completion of a visitor’s cabin a few years back.  The other trip took place just before summer, volunteers would go up for the final clean of the camp. 

In more recent years, Steve Johnson and Greg Kelly have respectively spear-headed the efforts to get the volunteers excited about going up for this worthy cause.  The efforts are now being led by Mark Cheeks.  Cheeks interviewed Kelly and Wilkes to get some history of NAIOP’S connection to BGCMD.  “The idea was once the larger capital projects were completed up at Indian Peaks, that NAIOP could transition the idea into the Boys & Girls Clubs actually in Denver,” said Wilkes.  “We have done some great things, but there’s still more that could be done.”  That goal has not yet been reached.

Plans to reach deeper into this and other worthy organizations are in the works as we speak.  The Community Relations Committee for NAIOP continues to work on ways to broaden their scope of community involvement.  On June 7, 2008, NAIOP will continue the tradition that was started eleven years ago.  We will work toward reaching the goals set by a small group of concerned leaders wanting to give back to our community.  As professionals in this great city that we work in, it is a goal worthy of our attention.  If you would like to sign up to help out on June 7^th, click here for more information.  If you are not able to help us on June 7^th, you can still contribute by sending a kid to camp this summer, click here and read the 2^nd page for more information on how to do this.