As we approach mid-year 2010 it feels good to report that I can sense our industry’s cautious optimism, especially when compared to this time last year. At mid- 2009, many of my NAIOP SoCal colleagues thought the world was coming to an end. Well, we survived.
If you look at the market reports today you’ll see that acquisition activity has increased in Orange and Los Angeles counties led by both familiar and new players. While leasing activity remains soft there is a definite sense that we’ve neared or hit bottom. The credit markets are also moving forward, having opened up a significant amount in the last several months. With a great sigh of relief, I can say that things are not getting worse. And that is much better for all of us.
I am proud to also share that our chapter has remained strong. In both good times and bad we’ve continued to demonstrate our value to members, sponsors and the real estate community. During difficult times, there are many choices to make. I am honored that so many remain actively engaged in NAIOP SoCal. It was exciting to see so many industry friends and peers turn out for our recent Night at the Fights event. We neared 800 in attendance this year, a strong increase from last year as our industry starts to seek out opportunities.
Sadly, we are also witnessing the struggles of our cities and states as they fight to survive their own fiscal crises. Unfortunately, as in past cycles, government agencies look to the real estate industry. Our Legislative Committee needs your help to fight carried interest tax increase legislation, split roll property tax and impact fees that threaten our jobs and the economic recovery. NAIOP SoCal’s Legislative Committee works hard to provide the information you need to join the fight against these threats. I implore you to take action.
Finally, I want to recognize the emerging leadership amongst our Young Professionals Group (YPG). The YPG program provides educational sessions, networking sessions, access to and training by key industry decision makers and leadership training. This exciting extension of our chapter has evolved into a very proactive and organized 160-person strong alumni (check out the NAIOP Facebook page to see their events and community outreach). On June 3 we invited these up and coming leaders to join a chapter board meeting followed by a joint board member/ past presidents / YPG networking event. Special Guest Larry Pobuda, NAIOP Corporate Chairman of the Board, noted that “NAIOP SoCal continues to raise the bar and set industry trends. Their leadership in establishing the YPG program was the impetus for today’s Developing Leaders program at NAIOP Corporate, and we salute them for their innovation and contribution to continuing education for young real estate professionals.”
I’m looking forward to the rest of 2010. With a platform that continues to deliver on its commitment to education, business development and legislative advocacy, NAIOP SoCal can do even more when we work together, stay involved and take action.
Greg Blomstrand
President
