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Rob Nahigian, SIOR, Briefs the SIOR Carolinas Chapter on Logistics and Supply Chains

The SIOR Carolinas Chapter welcomed Robert Nahigian, SIOR, as keynote speaker for its Spring Conference in Charlotte, N.C. Nahigian’s presentation entitled “From Shanghai to Your Shelf: Logistics/Supply Chain Site Selection Decision-Making” hit home with the 150 members and sponsors in attendance who were eager to hear his latest statistics and forecasts. Also in attendance were six students from Carolina State University, Clemson University, and Coastal Carolina University, who received scholarships from the chapter and the SIOR Foundation to attend this celebrated event.

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SIOR Florida Chapter Does Not Disappoint with Highly Anticipated Spring Conference

More than 100 members and sponsors were joined by SIOR President-elect Patricia Loveall, SIOR, at the SIOR Florida Chapter’s Spring Conference in Tampa, Fla. Held at the Marriott Tampa Water Street, the conference featured a full day of educational programming, including presentations from more than 10 of the chapter’s sponsors. In addition, IBG members convened a special session for more focused discussions, such as concerns over build-out coordination and technologies, as well as the shift from LIBOR to SOFR rates as the benchmark for determining variable rates. They observed that the market is currently landlord-friendly, with office brokers noting spaces in the Miami suburbs are increasingly hard to find.

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Double the Fun: SIOR Inland Empire & Orange County Chapter Combines Awards Presentation with Market Update

More than 70 members, sponsors, and guests looked on as the SIOR Inland Empire & Orange County Chapter presented the Largest Transaction Awards at the Lido House in Newport Beach, Calif. Putting a new twist on this year’s event, the chapter also recognized the smallest transactions of the year. Congratulations are in order for chapter members Juan Gutierrez, SIOR; Paul Earnhart, SIOR; Doug Earnhart, SIOR; Dan de la Paz, SIOR; Thomas Pierik, SIOR; David Mudge, SIOR; Charles Belden, SIOR; Rick Ellison, SIOR; Kyle Kehner, SIOR; Tim Pimentel, SIOR; Scott Sanders, SIOR; Jeffrey Ruscigno, SIOR; and Joseph Brady, SIOR. To round out the evening, several chapter members presented a regional market update for both the industrial and office sectors.

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SIOR Inland Empire & Orange County Chapter Highlights Challenges and Opportunities with Industrial Logistics Update

Guest speaker Jon DeCesare of WCL Consulting addressed more than 70 members, sponsors, and guests at the Water Grill South Coast Plaza in Costa Mesa, Calif., to provide an update on the world of logistics. DeCesare provided a summary of the recent problems plaguing the Ports of Long Beach and Los Angeles as well as an overview on the automated operations currently taking place at the ports. The group also discussed the impact that the recent supply chain chaos has had on the region. Perhaps the most interesting topic of the evening centered around the breakdown on site selection dynamics that frequently drives corporations outside of the IE/OC region to the Las Vegas or Phoenix markets.

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SIOR LA/MS/AL/NWFL Chapter Invests in Member Engagement at Spring Meeting

The Grand Hotel Golf Resort and Spa in Point Clear, Ala. served as a stunning backdrop for the SIOR Louisiana/Mississippi/Alabama/Northwest Florida Chapter’s Spring Meeting. The goal of the two-day event was to enhance member experiences by fostering the relationship between the chapter and SIOR Global through increased member engagement and impactful recruitment programs. In addition to networking and sponsor recognition, the chapter held a successful business meeting to discuss the treasurer’s report, membership, and future events. The event culminated in a tour of the new South Alabama Logistics Park, which currently features more than six million square feet of available warehousing space for lease in Phase I of the project.

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SIOR Northeast Regional Event Delivers with Perfect Mix of Networking and Industry Expertise

Along with some much-needed networking at the BC Club and Intercontinental Hotel in Boston, the SIOR Northeast Regional event featured a full day of educational sessions and panels that answered the question “What is it that we don’t know?” More than 120 attendees filed into the conference facility of Boston Properties on Congress Street to hear presentations on the northeast office market, industrial, life sciences, and more. Moderated by Bob Cleary, SIOR, the office panel highlighted a divide between Class A and B along with a reduction of available sublease space in the Boston area. For the industrial market, Doug Landry of Langan Engineering noted that the sector is setting historical performance levels in all measurable categories and examined the effects that last mile online delivery companies have had on the market. In the life sciences and bio manufacturing category, Dave Provost of Boston Properties gave an introduction on the significant increase of life science development which preceded a discussion on how the process of taking a drug to market can affect real estate decisions. For a more local perspective, Kristin Blount of Colliers gave an update of the Seaport Market, where vacancy is at 13.8% and fast-growing residential populations bode well for office demand.

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SIOR Northern California Chapter Kicks Off Year at Historic Ferry Building

Starting the year off strong, the SIOR Northern California Chapter held its annual kick-off event at the 1898 Beaux-Arts style Ferry Building in San Francisco. Seventy members, sponsors, and guests heard from industry experts Todd Berryhill, Travis Durfee, Drew Gordon, Paul Single, and Miles Treaster. Single—of City National Bank—observed that interest rates were up 175 basis points since December 2021 and Gordon—of Hudson Pacific Properties—noted that Class A office buildings with new health and safety features will far outperform Class B and C buildings. Overall, the panel concluded that the 1% increase in construction materials and labor costs over the last 18 months, along with longer lead times for items like steel roofing, can exacerbate construction. With e-commerce fueling the need for large amounts of warehouse space, industrial land in parts of the East Bay have reached $100 per square foot. Additionally, companies concerned about supply chain issues are taking extra space as a safety measure.

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Sun Valley Provides Picturesque Setting for SIOR Northwest Regional Event

Between fruitful networking activities and Idaho’s best skiing, guest speakers were the focal point of the SIOR Northwest Regional Winter Conference at the Sun Valley Inn in Sun Valley, Ida. Filmmakers Tom Hazdor and Jennifer Isenhard inspired members to make every day a new adventure and to embrace new challenges. On a more practical note, Neil Nelson, who serves as president of the largest commercial construction company in the state, shared the impacts construction, tariffs, and inflation have had on the commercial real estate industry. Finally, former quarterback of the New England Patriots, Drew Bledsoe, roused members with his life story and how he transitioned from the NFL into a new career as a successful entrepreneur.

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Joint Annual Economic Forecast Brings in the CRE Pros

Along with CREW Greater Philadelphia and the PA/NJ/DE chapter of CCIM, the SIOR Philadelphia Chapter hosted its annual Economic Forecast at the Union League Liberty Hill in Lafayette Hill, Phila. Lauren Gilchrist, of Longfellow Real Estate Partners, took the stage to discuss trends from the past year and to highlight what commercial professionals can expect heading into 2022. She noted that construction materials saw a 32.6% increase from year-end 2020 to November 2021. And while Q3 2021 offered some reprieve in pricing, scarcity and supply chain disruptions have injected another layer of uncertainty into the market. Real estate has returned to the office at the highest rate of all sectors, with education, flexible office providers, and tech returning at the slowest rates.

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Top Deals of the SIOR Pittsburgh Chapter

The SIOR Pittsburgh Chapter’s Top Deal Awards, held at the Fairmont Pittsburgh with over 100 attendees, recognized the 2021 practitioners involved in the largest real estate transactions in the region. An esteemed selection committee, chosen by the chapter’s executive committee, cast their votes on the best Top Deals nominated by local brokers. Congratulations to chapter members David Thor, SIOR; Jeffrey Deitrick, SIOR; Joseph Tosi, SIOR; Dan Adamski, SIOR; Gary Wilson, SIOR; Randall McCombs, SIOR; John Bilyak, SIOR; Brian Goetz; Michael Connor; Evan Cicirello, SIOR; Matthew Virgin, SIOR; and Louis Oliva, SIOR.

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Lunch and Learn at the SIOR San Antonio/South Texas Chapter Meetings

The SIOR San Antonio/South Texas Chapter started 2022 off on the right foot, hosting Kirk King, Josh Hullum, and Eddie Gonzalez of USAA Real Estate, and Tom Long of Greater SATX at the chapter’s meetings. King and Gonzalez addressed the current development pipeline and supply chain challenges, including a forecast that material issues like steel availability will persist through 2022, while Long emphasized recent wins for the region, including the relocation of corporate headquarters for Navistar, Victory Capital, and DeLorean to San Antonio. February’s speaker Will Holshouser of Trinity Real Estate Finance spoke on the impact of inflation and rising interest rates on lending and capital markets. His team sees inflation as the driving force, with continued above-average inflation sending lending and interest rates into uncharted waters. Most recently, Bill Hardy of BH Properties presented on his firm’s current assets and acquisition targets for Texas as well as their bullish outlook on the state’s market.

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UTSA Students Granted Scholarships from the SIOR San Antonio/South Texas Chapter

In keeping with its tradition of recognizing two outstanding students at the University of Texas at San Antonio’s Real Estate Program, the SIOR San Antonio/South Texas Chapter awarded seniors Anthony Flores and Tashona McIntosh with a total of $5,000 in scholarships. Both students are active in their local communities and hope to translate those skills into their professional careers. Upon graduating, Flores hopes to become a real estate agent and branch off into commercial real estate or commercial property management. In the same vein, McIntosh has set her sights on working in property management and building her real estate portfolio. In addition to the annual scholarship contribution, the chapter hosted students from UTSA at both their January and March meetings, presenting them with $1,000 and $500 scholarships in honor of USAA and BH Properties, respectively.

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SIOR Virginia Chapter Receives Update on Dollar Tree Corporate HQ Mixed-Use Development

Current and prospective members of the SIOR Virginia Chapter were treated to a development update event at Summit Pointe in Chesapeake, Va. Summit Pointe is Dollar Tree’s 69-acre mixed-use urban lifestyle community centered around their new 650,000 square foot headquarters office building. Once complete, the development will incorporate over one million square feet of office space; 750,000 square feet of retail, hospitality, and conference space; and over 1,400 multi-family residences. Led by Perry Frazer and Jeff Parker of Colliers, the development team reviewed pitfalls to overcome during the development process, provided insight on Class A leasing trends, and shared news of several exciting new office and retail businesses committing to the project. While the project came to market during the pandemic, activity has remained strong with lease rates generally unaffected; however, the team’s biggest challenge has been securing construction materials due to supply chain delays.

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Experts Wow the Crowd at the SIOR Wisconsin Chapter’s Industrial Outlook

Jeff Hoffman, SIOR, moderated the SIOR Wisconsin Chapter’s long-awaited Industrial Panel at GATHER at the Deer District in Milwaukee. Panelists Todd Battle, Doug Fisher, Peter Mork, and Chad Davis took part in a lively discussion centering around the hottest areas for development, increasing construction costs, cap rates, and supply chain challenges. Davis remarked that the increase in labor and construction costs were unsustainable, though they have likely peaked and plateaued. He remained optimistic that costs would eventually decrease but cautioned that they would not return to pre-2019 prices in the near future. Battle commented on the southeast Wisconsin labor market, noting that the area needs more robust population grown the sustain the amount of new development.