PA/NJ/DE CCIM Chapter

The New Tax Plan and 1031 Exchange Recap

Twenty commercial real estate professionals gathered on February 15 at the Hamilton Kitchen in downtown Allentown to learn about the Tax Cuts and Jobs Act (TCJA) and 1031 Exchanges.

Bruce Johnson, MBA, CEM, founding partner at Capstan Tax Strategies, spoke about the upcoming changes in the TCJA, specifically how they may impact cost segregation and accelerating depreciation.

1031 Corp.

1031 Corp.

Margo McDonnell, CRE, CES and President of 1031 Corp. spoke at length about 1031 Exchanges, sharing two case studies about the power of using an exchange to defer a tax event during a sale transaction as opposed to the traditional sell and buy again.

Bruce Johnson’s presentation is available for download here in PDF format.

Special thanks to Cindy Feinberg, CCIM of Feinberg Real Estate Advisors for arranging the event.

…a good outlook for 2018!

On Friday, February 1, the PA/NJ/DE CCIM Chapter along with CREW Philadelphia held it’s annual Economic Outlook with Dr. Peter Linneman. Dr. Linneman’s unique blend of scholarly rigor and practical business insight has won him accolades from around the world, including PREA’s prestigious Graaskamp Award for Real Estate Research, Wharton’s Zell-Lurie Real Estate Center’s Lifetime Achievement Award, Realty Stock Magazine’s Special Achievement Award, being named “One of the 25 Most Influential People in Real Estate” by Realtor Magazine and inclusion in The New York Observer’s “100 Most Powerful People in New York Real Estate”.

This year did not disappoint – we found value in his insights about national and global data and trends. Linneman discussed everything from multifamily asset sales volumes compared to previous years to retail sales and the impact of “clicks versus bricks”.

 

2018 Economic Outlook, Philadelphia, PA

2018 Economic Outlook, Philadelphia, PA

2018 Economic Outlook, Philadelphia, PA

2018 Economic Outlook, Philadelphia, PA

Brief from NAR: Tax Cuts and Jobs Act

The National Association of REALTORS® helps to outline some of the points of the recent Tax Cuts and Jobs act as it pertains to Real Estate professionals and ownership. Read it here: NARBrief_TaxCutsJobsAct

Played some craps at Triple Play, because I was feeling lucky!!

I Played some craps last week at the Triple Play REALTOR® Convention & Trade Expo in Atlantic City this Monday, because I was feeling lucky!!

The Convention ran from December 4-7, and had a great turnout! I couldn’t believe how the registrations grew:

November 4 (30 days prior): 6 people registered
November 27 (7 days prior: 16 people registered
December 1 (3 days prior): 22 people registered
December 4 (1st day of event): 34 people registered!

As you may be aware, the CCIM Institute has required candidates to complete a Commercial Real Estate Negotiations course as part of the designation process. This requirement was added after I received my designation, but I decided to take the Commercial Real Estate Negotiations since it was being offered at Triple Play. The course was amazing! It was formatted to keep us entertained and provide real tips to achieve win/win outcomes in interest-based negotiations.

I want to sincerely thank the Triple Play REALTOR® Convention & Trade Expo planners for putting together such a great group of practitioners that came ready to learn.

I also want to give a shout out to Barbara Crane, CCIM who also pulls Triple-duty as the Commercial Real Estate Negotiations course author, instructor and the International CCIM Institute 2019 President. She cares so much about the CCIM Institute that she took time out of her leadership schedule to instruct us on Monday!

-Jeff Hoffman, CCIM
PA/NJ/DE CCIM Chapter President 2017, 2018

CCIM Global Meeting Recap & Pinning!

I’m writing this  after just returning from the CCIM Global Conference in Toronto – what an incredible event! In addition to governance of the CCIM institute, the Global conference included speakers, forums, and interactive sessions on technology, brokerage and demographics. I would highly recommend everyone to attend these worthwhile events. This year, the keynote presentation was an interview between CCIM’s Chief Economist, Kiernan “KC” Conway, MAI, CRE and Steve Forbes, Editor-in-Chief, Forbes Media.

Mr. Forbes shared some great great stories about the past and also provided insight into what we can expect in our economy both in the months and years to come. There was also an amazing presentation titled the Upside of Global Upheaval by author, expert futurist in the field of demographics, Kenneth W. Gronbach, President of KGC Direct, LLC.

One of my biggest highlights of the trip to pin 5 new CCIM Designees from our region. We have been working with these candidates from classes to portfolios, so what a what a feeling of accomplishment and euphoria for everyone at the pinning ceremony! These new designees come from diverse backgrounds, including a developer, a broker, a leasing director at a REIT, but also a Director of Real Estate for a major metropolitan city and another who works for a retailer. Hopefully you will meet them at one of our upcoming events or at our Joint Annual Dinner which will be held early in 2018.

Congratulations and Welcome to: Shannon Comolli, CCIM; Melissa Meyer, CCIM; Joseph Notarianni, CCIM; Candis Presley, CCIM and Matthew Wolf, CCIM!

Looking forward to our next deal together,

Jeff Hoffman, CCIM
PA/NJ/DE CCIM Chapter President

Jeff Hoffman, CCIM, Assists with Successful September ICSC Idea Exchange Convention

The PA/NJ/DE CCIM Chapter is has successfully completed its first joint partnership event with the International Council of Shopping Centers (ICSC) at the annual Philadelphia Idea Exchange hosted in Atlantic City this past September 12-13.

The 2-day event and trade show featured roundtable discussions, panels, “retailer speed dating” and developer forum sessions. The event’s keynote presentation was delivered by Todd Carmichael, the CEO of La Columbe, a specialty coffee café and roaster with locations in Philadelphia, New York, Washington, Boston, Chicago, and Los Angeles.

PA/NJ/DE CCIM Chapter President, Jeffrey Hoffman, CRX, CCIM, of JPH Realty Advisors, was an integral part of the planning committee that brought together over 1,800 retail real estate professionals. Mr. Hoffman also directed the Development of the Special Interest Group (SIG) sessions, among which included topics entitled “Women in Real Estate” and “Legal, Operations and Leasing” and “Finance/Capital Markets.” Mr. Hoffman personally facilitated the “Finance/Capital Markets” discussion forum where 35 people participated in a dynamic discussion about the current status of the Capital Markets’ effect on retail real estate.

“This is one of the most important event for professionals in the ever-changing retail sector of Commercial Real Estate. Having our CCIM Chapter partner with the ICSC brings cutting-edge information and insights to owners, tenants, architects, builders and anyone else involved with our industry. The Idea Exchange was a great event, and we are looking forward to more joint collaboration in the future,” says Jeffrey Hoffman, CCIM.

Additionally, The PA/NJ/DE CCIM Chapter also participated as a Cocktail Reception sponsor for the show’s Keystone Event.

The mission of the PA/NJ/DE CCIM Chapter is to provide its designees and candidates with the highest quality of marketing and networking opportunities, services and education to broaden, enhance and enrich their business. For additional information about The PA/NJ/DE CCIM Chapter, please visit panjdeccim.com

Fun & Sun, Networking & Education Oceanside in Delaware!

The PA/NJ/DE CCIM Chapter hit the beaches of Delaware last week for some oceanside fun, sun, learning and networking. Presented were an outline and tour of the main economic drivers in the area: Meds (medical office), beds (residential, multifamily and hospitality), Suds (Tourism) and Buds (Medical Marijuana). The program included tour of new developments on Delaware’s famous “Jolly Trolley”.

Participants visited a medical center under construction in Milford where the conversation also included the expansion plans of Southern Delaware’s healthcare leader, Bayhealth since these developments will spur additional growth in the medical, office and retail sectors in addition to their positive impact on land valuations.

Another stop on the tour was Sussex County’s only Medical Marijuana outlet. Discussed were the intricacies of the of approving, financing and building new growing and dispensary facilities. Lastly, for recreation, PA/NJ/DE CCIM Chapter members and their guests got to experience a literal flavor from the 8 breweries in the areas followed by lunch at the Big Chill Surf Cantina in the Indian River. This new beachfront facility is a great showpiece of the public/private partnership between an operator providing food, drink, sundries and facilities to beachgoers on on oceanfront land owned by The Delaware State Park Commission.

The final stop on the tour was a sneak peek at the partially constructed Hyatt Place hotel with residences in Dewey Beach. The tour and day were concluded at the Dogfishead Brewery in Milton where participants were invited to sampled local produce at their farmer’s market.

A great pre-weekend day at the beach courtesy of the PA/NJ/DE CCIM Chapter!

Another Great Networking Event, PA Capitol Region

The PA/NJ/DE CCIM Chapter hosted a unique indoor and outdoor networking event at Duke’s Riverside Bar and Grille in Wormleysburg, Central Pennsylvania. Shaun Donovan, Melissa Stone and Paul Van Winkle from the Capitol Region Economic Development Corporation (CREDC) presented information to over 30 CCIMs and their guests about the geography of the region and the different economic drivers and transportation options that service the counties in its purview all while in the shadow of the Pennsylvania State Capitol Building overlooking the beautiful Susquehanna River. The event was made possible by the generous support of Rock Commercial Real Estate and BL Companies.

Great Event at the FMC Tower at Cira Centre South by Brandywine Realty Trust

Another first for the PA/NJ/DE CCIM Chapter: an early look at the groundbreaking, 49-story, 730-foot-tall luxury mixed-use skyscraper called the FMC Tower at Cira Centre South by Brandywine Realty Trust.

A select group of 50 commercial real estate professionals, Certified Commercial Investment Members (CCIMs) and their guests were treated to a walkthrough of the cutting-edge facility that combines iconic architecture with the latest in advanced engineering and LEED-based sustainable design. The preview was led by Steve Rush, Brandywine Realty Trust’s Vice President of Leasing.

The event was held on Level 28, the shared amenity floor, which deluxe amenities include a skyline terrace with fire pits; hydrotherapy spa; state-of-the-art fitness facility; 72-foot lap pool; media lounge and theatre; yoga studio; golf simulator, and much more.

“Transit-oriented development is the future,” explained Steve Rush, who also oversees all of Brandywine’s leasing efforts in Philadelphia’s Central Business District. He continued to explain to the attendees that Brandywine’s vision for the future includes 14 acres of development, named Schuylkill Yards, adjacent to 30th Street Station – one of the top three busiest train stations in the country. This future development by Brandywine Realty Trust and partner, Drexel University, includes 6.9 million square feet of office space, retail space, lab/technology space and a dedicated green space.

“Our CCIM Chapter is pleased to offer compelling events like these related to Commercial Real Estate in the PA/NJ/DE area. We also wanted to specially thank Brandywine Realty Trust for their graciousness to serve as our hosts and for their willingness to give us this sneak-preview” says Jeff Hoffman, CCIM, CRX, PA/NJ/DE CCIM Chapter President.

Additional information about Brandywine’s FMC Tower can be found online at ciracentresouth.com and Schuylkill Yards at schuylkillyards.com.

Chapter Announces W. Duncan Patterson, Jr., CCIM and Darbin Skeans, CCIM Endowed Scholarship for CCIM Candidates

Duncan Patterson, CCIM (left), Darbin Skeans, CCIM (right)

The PA/NJ/DE CCIM Chapter is proud to announce another Endowed Scholarship designed to assist Candidates of the CCIM Designation earn their status as a CCIM. Through the generosity and diligent efforts of Darbin Skeans, CCIM and W. Duncan Patterson, CCIM, our chapter is pleased to announce the The Duncan Patterson and Darbin Skeans Scholarship Fund.

“As a chapter, we are incredibly lucky to have two past Presidents of the National CCIM Institute involved in our chapter (Darbin Skeans, 2001 and W. Duncan Patterson, 2000). Additionally, their commitment to making top-notch commercial real estate education available to all is a testament to their belief in the power of the CCIM Designation” says Jeff Hoffman, CCIM, PA/NJ/DE CCIM Chapter President.

The PA/NJ/DE CCIM Chapter serves its members, CCIM Candidates and Designees with the understanding that, with the guidance and giving of our membership, we all continue to grow stronger together.

The CCIM Designation is Commercial Real Estate’s Global Standard for Professional Achievement. A CCIM is a recognized expert in the commercial and investment real estate industry and is proficient not only in theory, but also in practice. CCIM is part of a global commercial real estate network with members across North America and in more than 30 countries. This professional organization closes thousands of transactions annually, representing a projected $400 billion in value.

For additional information about The Duncan Patterson and Darbin Skeans Scholarship, please visit panjdeccim.com/scholarships or contact Kristin Tornetta, PA/NJ/DE CCIM Chapter Executive Director at: kristin@panjdeccim.com or (610) 560-1266.

 

Special Thanks to our Annual Corporate Chapter Sponsors
1031 Corp.
1031 CORP
BL Companies
BL Companies
Brandywine Realty Trust
Brandywine Realty Trust
Centric Bank
Centric Bank
Certified Abstract
Certified Abstract Company
National Integrity, LLC
National Integrity, LLC
Rittenhouse Capital Advisors
Rittenhouse Capital Advisors
Stark & Stark
Stark & Stark Attorneys at Law
Title Resource Group
Title Resource Group
Univest Bank Corp.
Univest Bank and Trust Co.
Sponsorship Opportunities
Sponsorship Opportunities are Available!