NAIOP Colorado

Congratulations to our NAIOP Young Professionals of the Year!

Each year, NAIOP looks at the Young Professionals within the organization across the country to see who stands out among the crowd.  NAIOP evaluates the nominees to find out who among them is at the top of the class.  The judges look at the Young Professionals'  accomplishments, career goals, lessons learned, obstacles overcome and how they are using their membership in NAIOP to influence the industry.  Click here to learn more about our local winners, Brian McDonald and Deidra Gonzales.  Brian and Deidra will be honored at the Development '11: The Annual Meeting for Commercial Real Estate next month in Scottdale, AZ. 

Congratulations Brian and Deidra!

Mid Year Commercial Forecast - Denver Poised for a Rebound

If you missed the Mid Year Commercial Forecast on July 12th, there was some good news that you will want to know about.  Dennis Huspeni from the Denver Business Journal was at the event and posted a great summary about the information shared by the speakers.  Click here to read that posting.

Annual Economic & Business Forecast

Submitted by: Lea Ann Fowler, Brownstein Hyatt Farber Schreck

The Annual Economic Forecast, held on January 11, 2011 at the Ritz Carlton, featured a panel of local experts, including Bruce Alexander, Patty Silverstein, Thomas Wootten and moderating the panel, Leonard Sahling, First Vice President of Pro Logis.

Patty Silverstein, Chief Consulting Economist for Metro Denver Economic Development, opened the program with a presentation on Moving the Economy Forward: Lessons from Driving School, which was an interesting parallel of our local and national economic trends with that of car racing.  Primary highlights discussed in moving the economy forward were (i) "Road Hazards" including minimal job opportunities, duration of unemployment and federal, state and local government budget issues and (ii) "Green Lights" including corporate profits rising (after tax profits up 17% YOY in Q3), consumers spending again, outstanding consumer credit decreasing (down 3.5% YOY in Q3), residential real estate stabilizing, commercial real estate potentially having hit bottom and local infrastructure development activity (DIA, FasTracks).  She stated that while the recovery does feel slow and that job growth will remain slow, with only a 1% expected job growth rate in Colorado for 2011, consumer confidence is actually getting better, evidenced by a decline in spending of only 4.3% in 2010, compared to an unprecedented 11% decline in 2009.  Expected growth industries include the professional services and health care sectors.  Click Here to view Patty's slides.

Industry Clusters Position Region for Economic Recovery

Sixth annual report details the Metro Denver and Northern Colorado region's competitiveness compared to the 50 largest U.S. metro areas

A major step in crafting a region's economic development strategy focuses on the types of industries to target for company growth and retention. Today, the Metro Denver Economic Development Corporation (Metro Denver EDC) released its sixth annual Industry Cluster Study, a competitive analysis of industries leading the nine-county Metro Denver and Northern Colorado region's recovery and future job expansion.

The study, completed by the Metro Denver EDC's Chief Economist Patty Silverstein of Development Research Partners, analyzes seven major industries in the nine-county region: aerospace, aviation, bioscience, broadcasting and telecommunications, energy, financial services, and information technology-software. The analysis factors new employment data from third quarter 2009 to third quarter 2010.

Click here to read the full story as well as find out more about the complete study.

MDEDC Reports Commercial RE Market Making a Comeback in Metro Denver

Earlier this month, the Metro Denver Economic Development Corporation (MDEDC) sent out an email sharing some good news for Commercial Real Estate in Denver.  According to data compiled in its recent Monthly Economic Summary for January 2011, the MDEDC reported that the commercial real estate market appears to be recovering from the economic downturn. 

Click here to read the full article to learn more about the trends in vacancy rates and to access full Economic Summary for January 2011.

Developing Leaders Real Estate Panel Discussion a Success!

by Whitney Hake, Cassidy Turley Fuller Real Estate and Justin D. Pless, Pless Law Firm, LLC

The Mentorship Panel was a success! After working the room, the attendees snagged a stadium seat in the audience to learn from Bill, Bob, Dave, Jason and Leanne. As the first Panelist up to the plate, Bill Lucas, from Cassidy Turley Fuller Real Estate, discussed  whether the glass is half-full or half-empty for office markets. He concluded that there is not an oversupply of office space in Denver, especially in the central business district (CBD). In fact, many California corporations are moving their office headquarters to Denver’s CBD market, like DaVita. The glass is half-empty for buildings in the Denver Tech Center (DTC), like Terrace Towers (Alliance Commercial Partners’ recent acquisition).

Next, Dave Ramsay and Bob Holmes addressed how deals are getting done in today’s commercial real estate (CRE) market from a business perspective and a legal perspective. Bob, from Holme, Roberts & Owen, LLP, concluded that it’s better to purchase a distressed asset before it goes into foreclosure. Dave, from Alliance Commercial Partners, cited the inconsistencies and outliers of buying distressed assets across the United States. These two Panelists had enough material to talk about for days! Jason Newcomer, from DCS, Inc., followed up this class act with a unique perspective of development. Jason shared his redevelopment ideas for medical users and his realization of deeply-discounted construction and design costs with the audience.

Commerical Real Estate continues to recover as Vacancy rates decline in Metro Denver

According to the recent Monthly Economic Summary from the MDEDC, vacancy rates in Metro Denver's industrial and retail markets declined in the 3^rd  quarter.  Results of a survey released by PricewaterhouseCoopers suggests commercial property investors are returning to the market in many areas, including Metro Denver.  Investors are generally focused on high performing, Class A assets, and some respondents said debt financing is again available.  Respondents also said Metro Denver remains a buyers' market for office property but is on-track for recovery.

Click here to read the full report.

Metro Denver EDC releases 6th Edition of Toward a More Competitive Colorado

This annual benchmark study examines competitve factors related to economic growth.  In this sixth edition, the MDEDC reports its annual benchmarking of Colorado's strengths, challenges, and opportunities for future job growth. 

“Our findings in this latest edition show that Colorado continues its trend toward becoming a weaker competitor for new jobs and investments,” explained Patty Silverstein, chief economist for the MDEDC and author of the report.  “In many respects, the state continues to live off of the investments it made in the past.”

To read the full story and find out how you can get a copy of Toward a More Competitive Colorado, click here.

NAIOP Supports Lee National Denim Day - Friday, October 8, 2010

Submitted by:  Karen Van Heukelem, Colorado Hardscpaes, Inc.

Did you know that one in every eight women in the U.S. will be diagnosed with breast cancer in her lifetime? That's one every three minutes. There's something you can do to fight back against this disease, and we are asking for your help.

Lee National Denim Day is one of the largest single-day fundraisers for breast cancer. On Oct. 8, millions of people nationwide will slip into their favorite jeans and make a $5 donation to support the Women's Cancer Programs of EIF, who are bringing together world-class scientists to develop an early detection blood test and working in Lee Labs nationwide to find less toxic, more effective treatments for breast cancer patients.

NAIOP Colorado supports this event and the fight against breast cancer.  Join the NAIOP Colorado Team today by visiting http://www.denimday.com or Click Here to donate directly to the NAIOP Colorao Team.  You can also Click Here to access a printable flyer a printable flyer to share with your colleagues, family and friends.

Tags: Cancer, Breast+Cancer, Lee+Denim+Day

ReENERGYze Your Real Estate Education Series Wraps Up!

by Blair Daniels, Brownstein Hyatt Farber Schreck

The fifth and final session in NAIOP Colorado's "ReENERGYze Your Real Estate" Education Series, held on September 22, 2010 at ProLogis, focused on the myriad of public policy, legislative and regulatory issues affecting the future of renewable energy, advanced biofuels, climate change initiatives and clean technology from a global, national and statewide perspective. 

David Bernhardt, a Shareholder in Brownstein Hyatt Farber Schreck's Washington D.C. office and member of the firm's Natural Resources, Government Relations and Litigation practice groups, discussed the inherent challenges of drafting meaningful renewable energy legislation based on the numerous stakeholders working in the United States Congress, the White House and related federal agencies and explained the "life cycle" of the most recent renewable energy legislation passed by the United States Congress.  Additionally, David provided insight as to the potential effect of the November 2010 election on future renewable energy legislation. 

Mike McAdams, President of the American Biofuels Association and Policy Director in Brownstein Hyatt Farber Schreck's Washington D.C. office, discussed the diverse array of second generation biofuel technologies and the need for the federal government to promulgate functional, fair policy initiatives to support the further development of such technologies.  David and Mike encouraged attendees to engage in a lively question and answer session, where the group focused on public policy and international issues related to renewable energy and solutions for the future.  Attendees were urged to participate in influencing policy decisions by joining NAIOP-Colorado's Legislative Affairs Committee, contributing to its Common Cents Fund and supporting NAIOP's lobbying efforts in Washington D.C. through their membership dues and contributions.