NAIOP Colorado

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.

You think your job interview was tough? Try presenting at 2011 Rocky Mountain Real Estate Challenge!

Submitted by Stephen Sanders, RMREC Committee Member

After beating out 40 of their classmates the winning teams from University of Colorado and University of Denver showed up Tuesday night, May 3^rd, to be judged not only by 13 industry leaders such as Michael Winn of Cushman & Wakefield, Chris Ernst of Aardex, and Stephanie Lawrence of Granite Properties just to name a few, but over 650 commercial real estate professionals. 

The evening started out festive with lots of shop talk by the sell out crowd and a beautiful ball room at the Marriot (kudos to the NAIOP Management and RMREC Committee for a wonderful setup).  As the attendees settled in the mood turned serious quickly and University of Colorado took the stage.   The superb support by OZ Architecture, RNL Global Design, CLC Associates, SEM Architects, The Mulhern Group and semplebrowndesign was evident as each team took the stage and their presentations came to life.  While both teams were polished and their proposals well thought-out, there could only be one winner.  After the dust settled University of Denver was presented with the winning Challenge Trophy and $5000.00 Scholarship by City of Aurora’s Mayor, Ed Tauer.  By the tone of the attendees the evening and the presentation was a great success!

A special thanks has to be given to John Buckley for sponsoring the event and providing such a great Challenge Site for the teams to work on. 

NAIOP’s next major event is a great cause Boys & Girls Clubs of Metro Denver Gates Camp Clean-up!  On June 4th from 7am-2pm help get the camp ready for the kids!  This is a great team event for a great cause!   Hope to see you there!

Public Officials Support 2011 Rocky Mountain Real Estate Challenge

Submitted Thursday, April 14, 2011by Stephen Sanders, RMREC Committee Member

By the end of business today the winning teams from both the University of Denver and the University of Colorado will be determined for this year’s NAIOP Rocky Mountain Real Estate Challenge.   The importance of a project with the potential of Nine Mile Station, located at Parker Road and I-225, to the surrounding neighborhood and City of Aurora as a whole cannot be overstated.  The officials from the City of Aurora will have a front row seat for the team’s presentations May 3rd.  Additionally we are excited by having both State Senator Suzanne Williams from District 28 where the project resides and State Representative Nancy Todd representing House District 41 making introductory comments at the event.  To wrap up the Event, City of Aurora’s Mayor, Ed Tauer will be presenting The Challenge Trophy and $7500 prize money to the winning team.

 This is the 9th year of the Challenge for NAIOP Colorado and we are sure to have a sellout crowd again of over 600 commercial real estate professionals.  There will be plenty of time to network before the event.  Sign up early to make sure you get in! The 9th Annual NAIOP Rocky Mountain Real Estate Challenge takes place on May 3rd at the Denver Marriott City Center, networking starts at 5pm.  2 hours of Real Estate Continuing Education credits are awarded for attending.  Tickets and tables are now on sale, click here for more information or call 303-782-0155.  In the next Blog we will begin looking at who’s on the DU/CU teams and who’s coaching them!

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.

Introducing NAIOP's Mini City - Inaugural Property Fair

The NAIOP Colorado Chapter has completely reformatted their annual property tour for 2010.  That means no buses, no stuffy auditorium, and no virtual presentations!  Instead, NAIOP’s Mini City: 2010 Property Fair , scheduled for Wednesday, October 13, 2010, will feature an extensive showcase of both company and property exhibits in unique setting with an Oktoberfest Theme! 

Attendees will enjoy Colorado inspired cocktail reception along with other exciting highlights including:

• Over 30 property and company exhibits
• Guided tour through property showcase with representatives from all of Metro Denver’s submarkets
• Exclusive Guide Book with details for featured projects and companies
• UNLIMITED Networking Opportunities

This unique Property Fair will also include a Continuing Education Slideshow featuring a FasTrack Update from Phil Washington, General Manager, Regional Transportation District and NREL Zero Energy Building by Jeffrey Baker, Director, U.S. Department of Energy. 

Don’t miss the must attend event of the year.  Join us for NAIOP’s Mini City: 2010 Property Fair on Wednesday, October 13, 2010 from 4:30 pm – 7:00 pm at the Marriott City Center in downtown Denver. 

For more details and registration information, click here.

All of this is made possible through the generosity of our Major Sponsors:

Title Sponsor:

 

Thank you to our Silver Sponsor:

Thank you to our Program & Bag Sponsor:

Full sponsor list

Want to see your name listed in the full list of sponsors, there are limited marketing opportunities still available!  Click here to learn more.

Addressing the Real Estate Needs of the Renewable Energy Economy

By John V. Miller, First American Title Insurance Co.

The fourth session of NAIOP-Colorado’s Educational Series “How to ReENERGYze Your Real Estate” addressed the real estate needs of the Renewable Energy Industry. Erik Abrahamson of CB Richard Ellis, Dan Belin of Ecology and Environment, and Greg Vallin of Brownstein Hyatt Farber and Schreck discussed market trends, critical information about siting of generation and transmission facilities, and tips for streamlining the zoning permitting and land use processes.

Erik Abrahamson’s presentation focused on recent deal activity and trends in the marketplace. He cited statistics that point to ever increasing demand for energy in the years to come and linked that phenomenon with real estate absorption in Colorado, thanks, in part, to policies designed to foster a “New Energy Economy.” Erik showed the clear connection between growing energy needs and the demand for real estate from the Renewable Energy Industry, demonstrating that economic factors are driving growth of renewable energy providers as well as their need for space. Click Here to read Erik's presentation.

Dan Belin discussed the practical considerations in siting renewable and non-renewable energy developments and transmission facilities and mapped the labyrinth of the Federal, state, and local permitting process. Dan demonstrated that, while the permitting process is rife with pitfalls, it can be expedited. Early coordination, consultation, and communication with key stakeholders, along with an understanding of the regulatory environment, will make or break a project. It was invaluable information for anyone considering an energy related project.  Click Here to see Dan's presentation.

Greg Vallin brought elements of Erik’s and Dan’s presentations together in a discussion that weighed the regulatory and policy considerations that make Colorado a great place to do business if you are in the renewable energy industry against the growing “Not In My Backyard” sentiment found in many communities across the country, Colorado included. He discussed the state and local incentives that are driving activity, the state of Colorado’s policy decisions that have expedited the development process, and practical considerations when putting a project together. Click Here to view Greg's presentation.

The speakers delivered three excellent presentations that captured the difficulty and the opportunity offered to real estate practitioners as they meet the needs of the Renewable Energy Industry.

Project Finance Opportunities in Energy Generation

By Greg Johnson, Patton Boggs, LLP

In recent years, there has been a dramatic increase in the amount of project finance opportunities for energy generation.  In part, these developments have been the result of an increased public awareness of the desire for energy independence, and a desire for cleaner sources of energy.  This has created opportunities to increase demand for clean-burning natural gas to fuel large central power plants for generating electricity throughout the U.S., and for applying wind and solar technology to generate electricity.  As a result, Patton Boggs represents and works with many developers of electrical generation and transmission facilities, and financial institutions, which are involved in construction and financing of projects using a variety of state and federal assistance to access the capital markets.  The new finance and regulatory environment has made it possible to finance generation and transmission facilities on a more cost effective basis.

Build Green, Save Green - Energy Tax Deductions Benefit More Than Building Owners

By Lee H. Johnson, CPA, CCIFP
Clifton Gunderson LLP

High energy costs have always been an incentive for improving the energy efficiency of commercial buildings. Now the threat of global climate change and record-high costs has ratcheted up the urgency of efforts by the government to promote energy-conscious building practices.

Federal tax deductions passed in 2005 give commercial property owners, and in some cases architects, engineers and contractors, generous allowances for the construction or renovation of energy-efficient commercial buildings.

That’s good news for property owners and the environment. Additional good news is that this law doesn’t expire until after 2013.

NAIOP Features Metro Denver's Southeast Market Update

Submitted by:  Bob Blodgett, Principal, R.S. Wells LLC/Clifton Gunderson LLP

NAIOP Colorado’s August 10th breakfast meeting program featured key players in Denver’s southeast market sharing information about current and future projects along the I-25 corridor, projections for office and retail demand, major lease and sales transactions and future trends.  The panel consisted of four speakers with diverse backgrounds in the corridor:  A commercial real estate broker, the new President of the Southeast Business Partnership, the IKEA U.S. Real Estate Manager and the Development Director at the RidgeGate mixed use project. 

June ReENERGYze Series Focused on Renewable Energy Profits

Submitted by Drew Torbin, Vice President – Renewable Energy, ProLogis

The second session of the NAIOP “How to ReENERGYze Your Real Esate” series focused on the opportunities in photovoltaics from a landlord’s perspective.  Representatives from  ProLogis gave a detailed overview of the market demand drivers, the approach that ProLogis has taken, some project case studies and the technical considerations for a project.

Wayne Barrett, Vice President and Market Officer for ProLogis, kicked off the session by introducing the crowd to the company, the markets they are active in and the type of product they build.  He then passed the microphone to Drew Torbin, so that he could take the group through the macro demand drivers in the industry.  Mr. Torbin touched on the need for an inexhaustible, cheap, clean source of energy and the country’s current strategy to achieve this.  Building on that concept, Torbin next discussed the solar supply chain and real estate’s role in it.  Given that most other constraints have been or are in the process of being removed, real estate is emerging as the predominant bottle neck in many of these projects.  An active and educated real estate sector can have a positive impact on the efforts in this space.  Next, Torbin covered the typical ownership structures of these projects and the roles played by each stakeholder.  Additional time was spent explaining the landlord and construction management roles that ProLogis plays.  Mr. Torbin concluded by talking through a few of ProLogis’ projects and one in-depth case study. 

Matt Singleton, Vice President – Renewable Energy at ProLogis, took over at this point.  He built upon what was previously discussed by walking the audience through ProLogis’ Spain tranche I project.  Next, he went through an in-depth technical explanation of photovoltaics.  Matt covered the history of the technology, the different types of modules, the make up of a typical system, the other balance of system components, some example pricing and even discussed cell efficiency and his view of what the future may hold.  

To conclude, the ProLogis representatives took questions from the attendees.  Most questions centered around policy and other macro drivers with a few audience members keying in on projects that held specific interest for them.  Click Here to see copies of the event presentations.