If you haven’t investigated the REALTORS® Property Resource (RPR) by now, this is the perfect time to get an eyeful of this truly cutting-edge data and demographics tool from NAR. Help a business find the best place to locate using demographic, psychographic and spending data to identify areas with the most target customers for the retail business or desirable talent pool for office recruitment. Check out this video to learn more about your REALTOR® benefit!
When customer attributes drive location decisions, business success follows. But getting the right view of the right demographic sections is no easy task. RPR was built with the commercial client in mind at every stage, and it shows with every tool and drilldown capability. Learn more about the incredible RPR at the RPR Blog.
INDIANAPOLIS – During the Indiana Commercial Board of REALTORS® 20th anniversary celebration at the Indiana Commercial Real Estate Conference, June 20, Brad King was announced as the association’s 2014 REALTOR® of the
Held at the NCAA Conference Center, nearly 250 commercial real estate professionals attended the conference
which provides brokers the opportunity to complete all state continuing education requirements in one day.
Following conference, many gathered to find out and honor this year’s outstanding professional in commercial real
King, a broker with RE/MAX Ability Plus Commercial Division since 2011, was presented the REALTOR® of the Year
award by ICBR in recognition of his professional success, commitment to furthering the commercial real estate
profession and dedication to community involvement.
“Brad is a deserving recipient of the 2014 REALTOR® of the Year Award, based on his continued success and
dedication to the industry,” said Steven Martin, 2014 ICBR President. “His involvement and volunteerism over the
years with ICBR and many other professional and community organizations demonstrates his leadership ability and
passion for commercial real estate. I am honored to be able to present him with this award.”
With more than 20 years of experience in real estate marketing, project management, planning and zoning,
economic development and regulatory assistance, King provides clients expertise in tenant representation, owner
representation, incentive procurement and zoning compliance assistance.
As a staff member of former Indianapolis Mayor Stephen Goldsmith starting in 1994, King served as the recording secretary for the Metropolitan Development Commission, then as township administrator followed by five years at the Indianapolis Economic Development Corporation and Indy Partnership. While involved in local economic development, King played a role in implementing the first regional approach to economic development, fostering some of the highest job creation and retention in the City’s recent history.
About The ICBR
The Indiana Commercial Real Estate Conference is recognized as the premier event for real estate professionals to
earn commercial continuing education credits and to gather with like-minded peers. This year’s event is sponsored
by Bradley Company, Hays & Sons Complete Restoration, Sperry Van Ness Commercial Real Estate Advisors,
Brickman Group, Colliers International, Zeller Realty Group, August Mack Environmental, Browning Chapman,
Citimark, Duke Realty, First Financial Bank, Holladay Properties and Quality Building Maintenance. For complete
details, visit www.myICBR.org.
ICBR is a commercial overlay board for commercial real estate professionals. Its members are dedicated to serving
the needs of commercial clients in aspects of brokerage, leasing, appraising, property management, and
development. ICBR has a statewide membership base of more than 600 professionals. For more information, visit
the ICBR website at www.myICBR.org.
First Wave of the 2012 Commercial Building Energy Consumption Survey (CBECS) Released
The first sets of data from the 2012 Commercial Building Energy Consumption Survey (CBECS) were released last week in Washington, DC. The data, which is one of several sets to be released by the US Energy Information Administration (EIA) over the next several months, provides important insights into the national commercial buildings profile and energy use.
The CBECS takes four years to complete from start to finish and the data is referred to by the year of the survey initiation.
What Is The CBRECS?
The CBECS is a national sample survey that collects information on the stock of U.S. commercial buildings, including their energy-related building characteristics and energy usage data (consumption and expenditures). Commercial buildings include all buildings in which at least half of the floorspace is used for a purpose that is not residential, industrial, or agricultural. By this definition, CBECS includes building types that might not traditionally be considered commercial, such as schools, hospitals, correctional institutions, and buildings used for religious worship, in addition to traditional commercial buildings such as stores, restaurants, warehouses, and office buildings.
This initial data set identified more than 100 unique subcategories of building types within the commercial sector, comprising 87.4 billion square feet of floorspace. Buildings used for lodging were shown to be the largest building type measured in square footage. Half of all building types increased in number from 2003 to 2012. The last CBECS was completed in 2003. Please visit the CBECS web site to learn more about the survey and the data available.
PROJECTED SCHEDULE OF 2012 CBECS DATA RELEASES
Building characteristics (BC) preliminary estimates
Released June 2014
BC detailed tables
BC public use microdata
Consumption & expenditures (C&E) preliminary estimates
C&E detailed tables
C&E public use microdata
For more information on the CBECS survey, please contact Stephanie Spear of NAR Commercial Policy at 202-383-1018.
A few days ago, Stephanie Spear, NAR’s Policy Representative for Commercial Real Estate attended the 3rd Annual Washington DC Federal Property & Public/Private Partnerships Summit put on by Bisnow. As Stephanie was kind enough to share her notes, a quick report follows on the three sessions, each dedicated to a different aspect of public/private partnerships.
Take it away, Stephanie:
GSA is undergoing a cultural shift in terms of how they approach space and how space is used. This is a result of the Total New Workplace initiative and the executive order to Freeze the Footprint. There are enough large sized, high profile P3 projects that have been successful that it is reasonable to expect more P3 opportunities in the future.
Bottom line for commercial members is that while government funding isn’t increasing, it’s staying steady and there are many opportunities to do business with the government through traditional landlord/tenant relationships and the emerging P3 arrangements. Building owners/lessors who can accommodate the changing needs of the modern workforce will have a better chance of a successful working relationship with the GSA.
Panel 1: GSA Operations Now And The Future, featuring the Commissioner of the GSA Public Buildings Service and the director of the GSA’s National Capital Region office.
Freeze the federal footprint – is happening but is creating more opportunities for private industry partners (landlords, building owners) because agencies have to be more creative with how they use space
Market is more competitive because agencies are signing shorter leases so there is more churning going on
GSA wants to have agencies be more forward-thinking about the end of their leases and work with landlords to think about it well in advance, work with landlords to get new needs met, concessions, manage the progress from upstream
Increased emphasis on reducing the number of lease holdovers being held by GSA
Agencies are being responsive to funding challenges and cooperating with shrinking footprint efforts because they understand that it frees up more money for running the actual program
“Total New Workplace” – GSA encouragement of new building designs for a remote workforce, hoteling spaces and cooperative work spaces
GSA personnel, telework, technology, IT priorities all go into the shrinking footprint and what exactly the remainders look like
GSA transparency goals
Making a lot of use of Section 14/412 construction/swap authority to be creative about using space, rebuilding, etc
Many success stories of P3 projects – The Yards, Old Post Office, St Elizabeth’s – hope to be a model because private industry partners are where the money is – govt doesn’t have, won’t have access to huge cash needed to do these big deals
GSA surplus property
Trying to be more mindful of using govt resources, part of a larger data-driven effort to be more efficient
Property Disposal Unit – 669% increase in properties sold in FY2013 over Fy2012
Panel 2: Talked about a P3 project in DC – was very interesting but hyper-local to DC
Panel 3: Perspectives on Leasing with GSA
Cultural shifts from GSA are having an impact on the way agencies use space – ‘total new workplace’ goals are main culprit
Skepticism about whether this new style of work will stick around, we have seen it come and go in private sector
Competition for contracts has focused on price only instead of best value
Structural requirements in procurements are challenging to accommodate in leases
Avoiding holdover leases
Working with tenants in advance of the lease termination to avoid vacancies
Shorter leases will favor new buildings because old buildings can’t be prepared fast enough to accommodate tenants’ needs
Global capital loves real estate. Attracted by its stability, performance and close indication of economic health, the wealth of the world sees real estate as a haven for growth. Opportunities abound for anyone looking out for them.
Making the transition from doing business in a single country to going international is not without its challenges, but as with any specialty, there are proven ways to get there. As always, networking and education top that list of ways. So, heads up: in October, Los Angeles will play host to a global real estate event packed full of both.
Destination Los Angeles is a special conference focused exclusively on working with global clients. Located just a few miles from downtown L.A. on October 2-3:
A networking reception at Noor, one of Pasadena’s coolest social venues.
A full day of sessions on Oct. 3 featuring experts who will share information about how to grow global business.
The current lineup of speakers includes:
Jennifer Bodetto, the “Hollywood Feng Shui Master,” who has been featured on HGTV’s “Selling LA” show and authored books and articles on this ancient science of design principles.
Carmela Ma, CIPS, an international real estate practitioner since the 1970s, is a longtime CIPS instructor who has done business in dozens of countries and spoken around the world on a variety of business topics.
Ronald Wong, a political and communications strategist with more than 30 years of experience who has worked for Fortune 500 corporations and served in President Clinton’s Administration. Wong is an expert in targeted outreach, marketing and communications.
Destination LA takes place at the Pasadena Convention Center, nestled in between the city’s Old Pasadena and Playhouse Districts and located just a few miles from downtown Los Angeles. The Pasadena Civic Auditorium, which hosted the Emmy Awards for two decades, sits adjacent to the Destination LA venue.
Access to all events will be $175, though registration for the CIPS course, the networking reception and one-day global event can be purchased a la carte. To learn more about or to register for this event, visit bit.ly/destinationLA or contact Jamie Hu at 626/446-2115 or [email protected].
In the latest Commercial Connections Podcast: Alex Ruggeri interviews Leil Koch, Chair of the 2014 NAR Commercial Committee and President of Equity One Real Estate. Leil is an international property specialist and former president of the Hawaiian Association and Maui Board of REALTORS.
When you’re willing to give your time and expertise to serve on local professional organizations, it’s a win for your local association and a win for your own career. Networking only adds new relationships, and most new business comes from new relationships.
Commercial real estate professionals should hear that leasing to the federal government just got a lot easier.
The General Services Administration’s mission is to manage and support the space requirements and other basic functions of the “alphabet soup” of federal government agencies. Of course that includes lots of Washington, DC real estate, but a recent expansion of a technology-supported property and space acquisition program has added Los Angeles, Seattle, Boston, Philadelphia, Denver and Dallas to the
It’s a savings to taxpayers to streamline the leasing process, and that’s what GSA has undertaken with its expanded Automated Advanced Acquisition Program (AAAP) program. As the GSA says, AAAP will
[…] [make] it easier than ever before for realtors, brokers, lessors, property managers, building owners and developers to electronically offer building space for lease to the federal government. The goal is to drive savings to taxpayers by improving federal leasing efficiency in the real estate market. GSA’s Automated Advanced Acquisition Program (AAAP), which originally launched in 1991 in the Washington, D.C. area, is now available in LA, Seattle, Boston, Philadelphia, Denver, and Dallas.
Here’s How It Works Registered commercial real estate participants can submit and update offers to lease space to the federal government within specified time frames, in response to a GSA Request for Lease Proposal. The submission process is web-based, which as you can guess leads to
a more efficient lease process
cheaper acquisition of real property lease assets
improved agency satisfaction
Keep in mind, AAAP is one of several procurement platforms GSA currently uses to lease office space in Washington, D.C., Atlanta, Chicago, New York, and Kansas City.
Ah, the political season. The time when persons with sometimes monumentally odd ideas about cause and effect stand on a stump and broadcast these ideas loudly and clearly.
Well, loudly, anyway.
Meet Ben Carson. A retired surgeon from Detroit, Carson’s political star is rising thanks to a strong showing in a recent straw poll. Riding the wave of recent notoriety brought him to a radio appearance, where an interviewer asked, in the context of Carson’s self-declared religious faith, if he had ever been “angry with God”.
Incredibly, his answer somehow included one of the real estate industry’s most venerable tax deferments and a favorite topic here at The Source: the IRS 1031 exchange.
The only other question I was given time to pose came […] when I asked Carson, who self-identifies as deeply religious, if he’s ever doubted or been angry with God.
Yes, indeed, he indicated, recounting an incident in which the Lord apparently subjected him to Job-like tortures over a problem involving residential real estate. After buying a new house, he just couldn’t unload the old one. “My house was on the market for five years. And I said, ‘I pay my tithes. I am faithful. I try to help people. So why is this happening to me?’ ” Carson told me.
“And [then] I found out about the ‘1031 Exchange’ [named for a tax code provision] where if you sell a piece of property and you make a very, very large profit on it, you don’t have to pay huge taxes on it if you can roll it over into another property of higher value.”
Carson’s story went on in this disjointed fashion, and didn’t seem particularly illuminating, except to suggest that it definitely wasn’t an ordinary crisis of faith and the Almighty must be a savvy adviser on the Internal Revenue Code.
So Where Did 1031 Exchanges Come From?
While it’s far from clear if Carson believes 1031 exchanges to be the work of a higher power than Congress, his answer provides food for thought. Given that I’ve written about 1031 so many times, I thought I might contribute some clarity on the point.
1031 exchanges first appeared as part of the Revenue Act of 1921, passed as a package of federal tax reductions by a Republican-majority Congress on November 23 of that year. Lauded by Treasury Secretary Andrew Mellon, the Act repealed a tax on wartime excess profits, reduced the top marginal rate on individuals from 73 to 58 percent and instituted a new and more easily avoided corporate tax.
Specifically for Dr. Carson’s benefit: everything Congress votes on is in the public record. And a quick look at that 1921 Senate vote (found here) lists many luminaries, including future President William McKinley (voted aye), Wisconsin firebrand Bob LaFollette (nay), and Delaware’s quasi-aristocratic Thomas du Pont (no vote).
The almighty, however, is not listed in the roll call.
Are you working toward the prestigious Accredited Land Consultant (ALC) designation? There’s no better time than this month to come to Chicago to pick up all three required courses and all three electives. Additionally, three courses on the track for ALCE Advanced designation are on offer.
Once upon a time, the term “office drone” made us conjure up images of the guy from three cubicles over who keeps handing in his TPS reports late.
But because we’re now living in the era of unmanned aerial vehicles — and because we’ve got office square footage to lease — the entire concept of “office drone” has gotten a serious makeover.
Today’s clip is the in-flight video capture of a radio-controlled vehicle’s tour of a large office space in Orlando. The “drone” vehicle: the AR Quadricopter. The video tour: an excellent overview of a raw space, its lighting and views. Usable as part of a sales package in its unedited video form (or even more effectively with time-compression video editing), this kind of fly-through video is packed with descriptive power.