NAIOP Colorado

2012 President Mike Komppa Looks Forward to 2nd Term

Be sure to visit the NAIOP Colorado website to read the welcome letter from Mike Komppa, NAIOP Colorado's 2012 incoming President.  Having previously served as Chapter President back in 1988, Mike brings a unique perspective to his leadership position and the history of the Chapter.  Here's just a sample:  "As I prepare to serve as Chapter President for 2012, I reflect on my prior experience in this position in 1988, when our chapter was relatively new.  It is gratifying to see how much NAIOP has grown in membership and influence over the years as a real force in the world of commercial real estate." 

Click here to read Mike's entire letter, as well as to take a moment to browse the website and see where you would like to get involved in 2012!  Contact the NAIOP Office at 303-782-0155 if you have any questions or would like to join a committee.

Day at the Capitol Event Recap

NAIOP, the International Council of Shopping Centers and the Colorado Apartment Association co-hosted a Day at the Capitol for their respective members on Monday, March 7.  The half-day event featured short speeches by several prominent figures within the Colorado Government including:

• Senator Mark Scheffel – Senate Minority Caucus Chair, and NAIOP legislator of the year
• Representative Amy Stephens - House Majority Leader
• Representative Sal Pace - House Minority Leader
• Representative Tom Massey
• Representative Jerry Sonnenberg
• Representative David Balmer
• Henry Sobanet - Director, Governor’s Office of State Planning and Budgeting      
• Walker Stapleton - State Treasurer                          

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.

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

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. 

Ten great days for Metro Denver - Good news arrives in many packages

A recent Investor e-Alert from the Metro Denver Ecnomic Development Corporation shared that "Good news is hard to find these days, even for Metro Denver.  But the last 10 days have given us renewed confidence in Metro Denver's ecnomic rebound".  Click here to read why Tom Clark, Executive Vice President of the MDEDC, is so optimistic.

NAIOP Colorado Developing Leader Member in Development Magazine!!

David Grissom, director of capital markets for Alliance Commercial Partners, LLC, is featured in the cover article, “Reinventing Finance” in the latest issues of Development Magazine.  Click here to read the featured article!