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Commercial Connections First Quarter 2013: The Young Professionals

Commercial Connections First Quarter 2013: The Young Professionals

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Published by REALTORS®
Commercial Connections First Quarter 2013: The Young Professionals
Commercial Connections First Quarter 2013: The Young Professionals

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Published by: REALTORS® on Mar 29, 2013
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06/27/2014

 
THE NATIONAL ASSOCIATION OF REALTORS
®
COMMERCIAL REAL ESTATE NEWSLETTER VOLUME 14 ISSUE 1
FIRST QUARTER 2013
COMMERCIAL
CONNECTIONS
 www.realtor.org/commercial
THE LATEST
Expanding NAR’sCommercial Footprint
.
2
EXPECTATIONS ANDMARKET REALITIES
Turning the Page onthe Past Few Years.
 By the Numbers
3
FISCAL CLIFF AGREEMENT
Short on LongTerm Solutions
.Capitol Report
8
REach
TM
-ING-OUT
…to the CommercialReal Estate Industry.
Tech Savvy
10
Their Future Is Today
PAGE
4
 
NAR PRESIDENT
Gary Thomas
Anaheim, CA
NAR COMMERCIAL LIAISON
Jim L. Helsel, GRI, CCIM, CPM, CRB, CRE, SIOR
Camp Hill, PA
COMMERCIAL COMMITTEE CHAIR
Linda St. Peter, CCIM, CIPS, GREEN
Wallingford, CT 
SENIOR VICE PRESIDENT
Janet Branton
Commercial & Global Services 
VICE PRESIDENT
Jan Hope, RCE
DEVELOPMENT MANAGER
Jean Maday
MARKETING MANAGER
Jorge Rivera
MEMBERSHIP COORDINATOR
Melanie Sligh
POLICY REPRESENTATIVE
Vijay Yadlapati
MANAGER COMMERCIAL RESEARCH
George Ratiu
Reach any of us at:
NARCommercial
@
realtors.org
430 N. Michigan AvenueChicago, Illinois 60611-4087800.874.6500
DESIGNER
Dave Hunter
www.dhdd.net
PRINTED BY
Omega Printing, Inc.
An Inc. 500 and NAPL Hall of Fame Company 
www.omegaprinting.com
tinyurl.com/REALTORCommercial
www.facebook.com/NAR.CommercialRE
www.Twitter.com/commsource
NAR EXPANDSCOMMERCIAL FOOTPRINT
AN IMPORTANT ORGANIZATIONAL CHANGE
finds it roots in arecommendation from the Membership Structures PAG, which metthroughout the summer last year.In an effort to enhance the visibility and priority of Commercialactivities, NAR combined the Commercial Division with the GlobalServices Division. Under the oversight of Janet Branton, NAR willbe providing increased emphasis and renewed acknowledgement tohow important both the Commercial and International areas are.Janet’s title will be SVP of Commercial and Global Services.Division VP Jan Hope will have primary responsibility forintegrating NAR’s domestic and international commercial priorities.
REACH™-INGFOR COMMERCIAL MENTORS
ONE OF NAR’S NEWEST INITIATIVES
isREach™ –a new type of acceleratorprogram developed to introduceinnovative technology companies to the real estate market place.Of the 100 companies applying for a spot in the program, only 6-10will be accepted and garnering a spot will provide access to one of the world’s largest industries and NAR. REach™ offers NARmembers a unique opportunity to work closely with thesecompanies looking to shape how you and your clients conductbusiness in the future.
Interested in becoming a mentor? Read the REach
TM
article on page 7 orvisit:
www.NARReach.com
for more information.
w
 THELATEST
2COMMERCIAL
CONNECTIONS|Q1 2013
REALTORS
®
HAVE"OFFICE SPACE”AT RECON
ARE YOU A REALTOR
®
attendingICSC RECon 2013 in May? NAR isproviding space to meet with aclient, write up a contract and closenew business. As a complimentary member benefit, you have theopportunity to schedule an appointment in our booth (Booth#C2113) at one of three private tables in 30 minute time slots. Andeven if you don't need meeting space, please come by and spendtime with NAR staff, learn about current legislative issues, and thelatest resources available to you as an NAR member.
C
C
Make your space reservations today by emailing:
NARCommercial@realtors.org
w
 
BY:
NATIONAL ASSOCIATION OF REALTORS
®
RESEARCH TEAM
hen Real Estate Research Corporation(RERC), Deloitte, and the NationalAssociation of REALTORS
®
(NAR) begandiscussions to publish the annualExpectations & Market Realities in Real Estate 2013,they hoped that some of the uncertainty that hasdominated the commercial real estate outlook for thepast few years would be in decline. Instead, what theyfound was that the economy and capital marketsappeared even more uncertain, and that there weremajor hurdles still to overcome before investors wouldhave the clarity they have been wishing for.Although a few questions have been answered — theFederal Reserve has initiated a third round of quantitative easing and has extended the time frame forkeeping the federal funds rates low to mid-2015, and theNovember elections are over — other uncertaintiesremain. It appears that the political gridlock we have hadfor the past couple years will continue, at least to somedegree, and we wonder if calmer heads will prevail. Sloweconomic growth, weak job growth, and unsustainabledebt levels are here for the foreseeable future and wequestion if any industry can provide a meaningful boostto growth. Tax burdens and expenses of the newhealthcare legislation are beginning to be felt, and newbanking regulations are on the rise. The credit crisis inEurope has spread and the U.S. is beginning to feel theeffects through lower export growth, all while thechallenges in the Middle East are intensifying.If there is one thing investors appear ready to do —perhaps even eager to do — it is to turn the page on thepast few years. In general, investors want to put the pastbehind them, and although they may not know exactlywhere they are going, they know where they have beenand that they do not want to return there. They knowwhat they are dealing with, they realize that thissituation will be with the nation for the foreseeablefuture, and they need to make adjustments in order tomaximize commercial real estate investmentperformance and yield in this kind of environment. Webelieve that much of the critical research and analysisneeded to do just that is provided in our new outlookreport:
 Expectations & Market Realities in Real Estate2013 — Turn the Page
.The first chapter of Turn the Page takes a look at theeconomy as the investment environment in which peopleinvest. The outlook is for a continued slow recovery, withmodest economic growth over the next few years and forslow job growth to continue. It is expected that oncebusinesses get used to the new tax increases, thatbusiness spending (including hiring) may increase. Inaddition, it appears that the residential real estatemarket is finally starting to stabilize, and we may finallybegin to see positive growth in this sector.The capital markets take center stage in Chapter 2, asthe report looks at the demand for commercial realestate as an investment alternative, as well as theavailability and discipline of capital for investing in thisasset class. Both debt and equity committed tocommercial real estate investment are discussed.Chapter 3 offers highlights and expectations for thefive major property sectors—the office, industrial, retail,apartment, and hotel markets.Analysis examines volume, pricing, capitalizationrates, vacancy/occupancy rates, absorption andcompletions, and rental rates/revenues for each of theproperty sectors.The final chapter contains the collective analysis of Deloitte, Real Estate Research Corporation and theNational Association of REALTORS
®
, of the investmentenvironment, the capital markets, and the propertymarkets as each presents its outlook for commercial realestate for 2013 and beyond.
C
C
To turn the page on this 57-page annual collaborationbetween Deloitte, Real Estate Research Corporationand the National Association of REALTORS
®
, visit:
http://tinyurl.com/cqsh7pk 
where you can viewand download!
w
BY THE
NUMBERS
EXPECATIONS AND MARKETREALITIES IN REAL ESTATE 2013- TURN THE PAGE
 W
COMMERCIAL
CONNECTIONS|Q12013
3

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