NAIOP Colorado

Rocky Mountain Real Estate Challenge Announces Architect and Judge Selection at Kickoff Event

Submitted by Jeff Corn, Fleisher Smyth Brokaw, LLC

NAIOP Colorado announced the selection of architects and judges to take part in this year’s Rocky Mountain Real Estate Challenge.  The announcement was made privately on Thursday, January 28^th at the Denver Coliseum, the subject of this year’s Challenge, as participants and organizers gathered to formally kickoff the 8^th annual event.

“These professionals represent the best and brightest in our industry, and we are pleased to announce their involvement in this year’s Challenge”  said Al Colussy, Principal with the architectural firm klipp, and Chair of this year’s Rocky Mountain Real Estate Challenge Committee.

Architect and Judge selections were made based on relevant experience, expertise, and community involvement. After a three-month selection process beginning last October, NAIOP selected from dozens of potential honorees, ultimately choosing seven architectural firms and eleven judges to take part in this year’s Challenge, which culminates with student presentations at a banquet dinner on May 5^th.

City of Denver, RTD and NAIOP Task Students with Redevelopment of Denver Coliseum Site

The City of Denver and RTD have teamed up with NAIOP Colorado to get recommendations from some of commercial real estate’s best and brightest graduate students.

The Coliseum has been a Denver landmark for nearly than 60 years, and visions for its future now lie in the hands of graduate students from the University of Denver and the University of Colorado. 

The City of Denver and RTD are teaming up with NAIOP Colorado for this year’s 8^th annual Rocky Mountain Real Estate Challenge.  The Challenge asks student teams to evaluate and make recommendations for the Coliseum’s redevelopment as they compete with one another to present viable proposals.  The City will take into account the students’ suggestions as future options for the site are developed.

Over the next four months, nearly 50 students will analyze every aspect of the feasibility of redevelopment and will ultimately present their findings to the City at a banquet event on May 5, 2010.  Ticket sales for the event will be open to the public in mid February. 

NAIOP Explores Efficiency Incentives/Rebates in Commercial Real Estate

Submitted by Joseph Dischinger, Fairfield & Woods PC

ResourceSmart Colorado presented an informative breakfast program on October 13 about technical assistance and financial incentives available to the owners and operators of commercial buildings for reducing consumption of water and energy.  ResourceSmart Colorado is a ground-breaking partnership among NAIOP Colorado, Denver Water and Xcel Energy to promote conservation in office buildings, warehouses and other commercial real estate in the Denver metropolitan area.

The program began with a brief quiz show titled “Are You Smarter Than Jim Creighton?”  Moderator Susan Stanton asked audience members and the Chapter’s Programs Committee Chairman Jim Creighton multiple choice questions about resource conservation, which Mr. Creighton gamely answered incorrectly.  During the quiz show, the audience was treated to a running toilet – an actor, dressed in a toilet costume, ran through the crowd.

Announcing 2009 Virtual Property Tour of Downtown Denver & CBD Update

Join the NAIOP Colorado Chapter and major sponsor Security Title Guaranty Company on Tuesday, September 22, 2009 from 5:00 to 7:30 pm at the Newman Center for the Performing Arts (located at the University of Denver) for the 2009 Virtual Property Tour of Downtown Denver and Central Business Districut Update. 

This unique media experience will feature new and ongoing projects in downtown Denver.  Including a variety of commercial, mixed use, residential and hotels such as:
 
- 17th & Larimer Centennial Realty Advisors
- 1899 Wynkoop Centennial Realty Advisors
- Parkway Office Centre DPC Development
- 1800 Glenarm Fuller Real Estate
- Trinity Place The Broe Group
- SugarCube JE Dunn
- Granite Tower Granite Properties
- Denver Place LBA Realty
- Hilton Garden Inn Downtown Stonebridge Companies
- Hilton Garden Inn Cherry Creek Stonebridge Companies
- Tower Private Residences Four Seasons
- Glass House JE Dunn
- Republic Plaza Brookefield Properties
- Dominion Tower CB Richard Ellis
- US Bank Tower CB Richard Ellis
- Mile High Center The Broe Group
- The Spire JE Dunn

See what's going on with the Denver Zoning Commission.  Plus, hear a market update on the various real estate segments in downtown featuring Tom Clark of Metro Denver Economic Development Corporation and Tami Door of Downtown Denver Partnership.  Mr. Clark and Ms. Door will also share commentary on key issues and enticements for owners, investors and developers considering a downtown project.
 
No live presentations!  All pre-recorded in just under 60 minutes!  Register by September 8 and pay reduced registration rates!
 
Click Here for more information or to register now! Or, Click Here for a printable registration form.

Additional marketing opportunities are still available!  Include your company’s full or half page ad in our onsite event program.  For more details, contact Jayma File of NAIOP at (303) 782–0155 or jfile@wmrdenver.com.

August Green Series Meeting: The Legalities

Submitted by Dan Cohen, Urban Investment Group

On Wednesday, August 19th, the NAIOP Green Series Education Committee held its fourth session of this year’s Sustainability Series, “Going Green to Find Gold in Your Existing Building.” This five-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. Session Four, “The Legalities," was organized by Dan Cohen, formerly a Vice President with Catellus Development, now with his own firm, Urban Investment Group.

The session included three speakers. Carolynne White, a land use attorney with Brownstein Hyatt Farber Schreck, gave a presentation entitled: "The Legalities: The Regulatory Environment." The presentation was an overview of the current regulatory environment at the federal, State, and local levels with regard to regulation and funding for energy efficiency plans and improvements. At the federal level, Ms. White discussed a variety of programs, including funding headed to Colorado cities from the Energy Efficiency and Conservation Block Grant (EECBG) program. At the State level, Ms. White explained a number of bills considered or passed and indicated that most of the State's climate action efforts are actually implemented at the local level. At the local level, the trend in Colorado is for more green building regulations. Cities such as Denver, Aurora, Lakewood, and Wheat Ridge are all amending their codes. Ms. White closed with the prediction that the trend will be for more regulation in the future in Colorado.  Click here to see Ms. White’s presentation materials.

NAIOP Colorado, Xcel Energy and Denver Water Launch Precedent-Setting Partnership to Promote Commercial-Sector Conservation

 Three of Colorado’s leading organizations, NAIOP Colorado, Xcel Energy and Denver Water, have formed a groundbreaking partnership to promote energy and water conservation in office buildings, warehouses and other commercial real estate in the Denver metropolitan area.  Known as ResourceSmart Colorado, this program aims to make a significant difference in improving the energy and water efficiency of Colorado’s commercial real estate sector.

“By bringing together two of the region’s largest utilities with NAIOP Colorado, ResourceSmart Colorado has the potential to create unprecedented change in promoting greener, more environmentally friendly practices in Colorado’s commercial buildings,” said Kathie Barstnar, executive director of NAIOP Colorado. “The program will give the key decision-makers of the commercial real estate industry the tools they need to implement the best, most cost-effective conservation programs and cutting-edge green building practices. It’s a win-win for all involved.”

The United States commercial real estate sector uses a tremendous amount of energy and water. Commercial buildings consume 36 percent of all electricity produced in the country and use an estimated 10 billion gallons of water each day in the United States.  In the Denver Metro area alone, Denver Water’s commercial customers use more than 14.7 billion gallons of water annually — enough water to pour one foot of water onto 45,000 football fields. 

Both Xcel Energy and Denver Water have made commercial-sector conservation a priority and offer a variety of related programs and incentives, including audits and financial incentives for customers who switch to more efficient technologies. While these programs have been successful, the challenge has been making sure that the right people in the commercial real estate sector know about them.  That is where NAIOP Colorado, the Commercial Real Estate Development Association, came in. 

NAIOP’s Colorado chapter is one of the largest and most active chapters in the country, with nearly 800 members representing the owners and key decision-makers in the region’s commercial real estate industry. After some initial discussions with Denver Water and Xcel Energy, it became readily apparent that by working together, these three entities could make significant strides in saving water and energy while also helping local businesses to lower their costs and improve their bottom line. 

Governor Bill Ritter, whose administration has been a champion of climate change issues, has already voiced his enthusiastic support of the partnership. He said: “In this time of increasingly scarce natural resources, it is more important than ever for commercial buildings to be as efficient as they can be.  This unprecedented partnership will not only help the environment, it will also help Colorado’s economy by enabling businesses to save money on utility costs.”

Through ResourceSmart Colorado, the Colorado chapter of NAIOP will work with both utilities to promote the need to conserve energy and water and to make its members aware of the programs and incentives that are available. This will be achieved through a variety of forums, events, programs and communication tools. As a part of the program’s launch, NAIOP Colorado plans to:

• Launch a new Web site devoted specifically to water and energy conservation, providing tips, conservation incentives and more;
• Host a breakfast meeting on Oct. 13 for NAIOP Colorado members to learn about the programs and incentives each utility offers;
• Act as a facilitator in bringing individual commercial real estate companies together with Xcel Energy and Denver Water for one-on-one consultations; and
• Identify additional opportunities to educate NAIOP Colorado members of the many conservation programs that Denver Water and Xcel Energy offer.

                                                                                               Additional initiatives in conjunction with ResourceSmart Colorado will be announced in the coming months. For more information about the program, or to schedule an interview with a representative from NAIOP Colorado, Denver Water or Xcel Energy, contact Megan Lane from GBSM at (303) 825-6100, Stacy Chesney from Denver Water at (720) 232-7214, Mark Stutz from Xcel Energy at (303) 294-2300 or Kathie Barstnar from NAIOP Colorado at (303) 782-0155.

ABOUT THE PARTNERS

NAIOP Colorado is a chapter of NAIOP, the Commercial Real Estate Development Association, and it comprises nearly 800 members serving the market.  NAIOP is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate, with 15,000 members in North America.  NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop-colorado.org.

Denver Water proudly serves high-quality water and promotes its efficient use to 1.3 million people in the city of Denver and many surrounding suburbs. Established in 1918, the utility is a public agency not funded by taxes, but by water rates and new tap fees. It is Colorado's oldest and largest water utility.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

Denver Market Forecast

Submitted by Sherman Miller, Cushman & Wakefield

The July 14th breakfast meeting titled, “Mid Year Commercial Forecast”, featured a panel of the 2008 NAIOP Brokers award winners.  The presenters included Mike Winn and Tim Richey of Cushman & Wakefield (Investment), Barry Dorfman of Jones Lang LaSalle (Office), Jim Bolt and Mike Camp of CB Richard Ellis (Industrial), Stew Mosko of Fuller Real Estate (Land), and Jon Weisiger of CB Richard Ellis (Retail). Sherman Miller of Cushman & Wakefield moderated the panel presentation and discussion.
           
The program featured videos clips from each of the presenter’s children and their candid remarks about their individual fathers were funny and poignant at the same time.  Each of the speakers then presented an overview of how their specialty market has been performing.  While the information was generally down due to the market conditions, each speaker provided some hope for recovery.  The general consensus was that Denver will see the market trend upwards in 2011.  This cycle has not featured the over building as in the past and the Denver economy has diversified from prior cycles.

Special recognition goes to Charmaine Rodden of Cushman & Wakefield for her work behind the scenes with the videos.  Click Here to view the featured speakers slide presentations.

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. 

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.

 

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.