On Wednesday January 16, 2019 the CCIM PA/NJ/DE Chapter teamed up with the SIOR Philadelphia Chapter and CREW Philadelphia to host the annual economic forecast featuring Dr. Peter Linneman. High above Center City Philadelphia at the Pyramid Club, Dr. Linneman captivated a sold-out room with his insights and narratives. The feedback from the event was overwhelmingly positive, and a wonderful way to kick off 2019 for our chapter.
Whether we have a huge showing or a small turn out, our chapter’s open Breakfast Club Meetings are always great opportunities to learn something relevant to commercial real estate and to network with professionals in our industry.
Most recently, our meeting was representative of the professional diversity attracted to the CCIM designation, curriculum and professionals, including property owners, developers, appraisers, leasing agents, sales brokers and a mortgage broker.
Together we discussed regional mixed use development, the potential of a multifamily housing bubble bursting, apartment rent and amenity trends. Additionally, we discussed generational and tax implications relating to real estate at certain points in the owner’s lifetime.
I have always tried to insure that our chapter be committed to excellence and to offering opportunities that you can’t afford to miss! These Breakfast Club Meetings have always had a special place in my presidency of our PA/NJ/DE CCIM Chapter as a worthwhile investment of time with colleagues to connect and discuss issues impacting our businesses, our careers and our personal lives.
Please join me for our next Breakfast Club Meeting – they’re open to everyone and the schedule is posted on our web site: panjdeccim.com/events
Wishing you a happy, healthy and prosperous New Year!
-Jeff Hoffman, CCIM
PA/NJ/DE CCIM Chapter President 2016-2018
The PA/NJ/DE CCIM Chapter has elected John Birkeland, CCIM as its Chapter President for the 2019 calendar year. Birkeland replaces Jeffrey Hoffman, CCIM who served as Chapter President since 2016.
Mr. Birkeland has been an active member of the chapter, and has served on its board since 2016. He served as Chairperson of the Central Pennsylvania Region.
“Due to Jeffrey Hoffman’s tireless efforts, our chapter is headed in the right direction and has good momentum to continue educating commercial real estate practitioners on the benefits of earning the CCIM designation. I am grateful for the foundation that Jeffrey has built for our Chapter and am excited to build upon that foundation through educational and networking events,” says Birkeland.
“After three years, I am very excited to turn over the presidency to John Birkeland. I’m also looking forward to continuing to serve under his direction and help wherever I can,” says Hoffman on the transition.
The PA/NJ/DE CCIM Chapter is comprised of over 150 members, both CCIM designees and candidates. The CCIM Designation is awarded to commercial real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying industry experience. Less than one percent of commercial real estate professionals in the world hold the CCIM designation. All CCIMs earn the designation by passing the Institute’s Comprehensive Examination, the final element in the designation process.
CCIMs are recognized experts in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis. The Chicago-based CCIM Institute is an affiliate of the National Association of Realtors® and is the governing body of the largest commercial real estate network in the world. For more information about CCIM, please visit: ccim.com
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 more information, please visit: panjdeccim.com
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True to our form, the PA/NJ/DE CCIM chapter holiday party was educational, cutting edge, and fun.
Hosted by Brandywine Realty Investment Trust, our party began with a tour of 426 West Lancaster Avenue in Devon, PA. 426 is a 1980s-era building that has recently been gutted and is presently being marketed for lease.
After discussing the project’s history, upgrades and marketing goals, the Chapter’s holiday party began with the installation of John Birkland, CCIM who will serve as our 2019 Chapter President. Jeff Hoffman, CCIM was recognized for his exceptional service and leadership to the Chapter, most recently serving as Chapter President for the past three years.
“I have had a wonderful run as Chapter President since 2015, and now I am looking forward to continuing to support our chapter and the leadership of John Birkland, CCIM,” said Hoffman.
NAR Released a great video series with Evan Liddiard, Director of Federal Tax Policy for the National Association of REALTORS®, and Peter Baker of the Business Planning Group giving an overview of 2018’s new tax laws. The series offers guidance for individuals and families filing tax returns, the tax incentives of owning a home, as well as business tax changes for real estate professionals. The four-part series is made up of:
- An Introduction to the Tax Cuts and Jobs Act of 2017
- Major Changes Affecting Individuals
- Changes Affecting Tax Incentives of Owning a Home
- Tax Changes for the Real Estate Professional
The entire series, including videos, slideshows, transcripts, is available online at:
The only constant of the Commercial Real Estate field seems to be change. One thing that hasn’t changed as the PA/NJ/DE CCIM Chapter led its fourth annual Developer’s Forum was that it was, again, deftly moderated by Natalie Kostelni, reporter for the Philadelphia Business Journal. She was a fantastic panel moderator as she was able to tease out the items and trends that make modern mixed-use developments work. She led the discussion among a panel consisting of innovative mixed-use developers, consisting of: Paul Commito, Senior Vice President of Development at Brandywine Realty Trust; Mark Fitzgerald, President & Chief Operating Officer of High Associates, Ltd.; Michael Hankin, Chief Operating Officer of Hankin Group and Michael Markman, President of BET Investments.
A mixed-use development is different from the multi-use development of 20 to 40 years ago. Historically, multi-use projects segregated uses and was more about efficient use of land and grouping similar uses together. With mixed-use in the present day, the interplay of the uses is at the heart of the development. The mixed use developments that work are not contrived or forced by government, rather they are created to be part of the community and bring the community together. The developers discussed the various challenges of developing vertical and horizontal mixed-use projects in diverse locations from urban to suburban to exurban. Each developer designed their respective developments to each create a sense of “place”.
Another observation was that amenities are a key differentiator in creating that place-making experience. It was noted that all demographics are interested in the amenities, but that they are used most often by the baby boomer generation as the millennials cite that they don’t have the time to take advantage of having them.
Special thanks to Natalie Kostelni, and to our developers to make tonight’s event a success. Additionally, thanks to the Daniel M. DiLella Center for Real Estate at Villanova University for to continue to host our developer’s forum. What great night!
The PA/NJ/DE CCIM Chapter has recognized three chapter members who recently earned the Certified Commercial Investment Member designation, the global standard for professional achievement, from the CCIM Institute.
The following PA/NJ/DE CCIM Chapter members were among the 210 industry professionals who earned the CCIM designation during the organization’s 2018 Fall Business Meetings October 7-11 at the Swissotel in Chicago, IL:
- Robert Fuller, CCIM, CBRE, Trenton, NJ
- Dominic Janidas, CCIM, MBA, Berkshire Hathaway HomeServices The Preferred Realty, Pittsburgh, PA
- Isaac Rothermel, CCIM, TSB Capital Advisors & Realty, Paoli, PA
“Through hard work and determination, each designee dedicated themselves to achieve the CCIM designation, which will pay off throughout their entire commercial real estate career,” says 2018 PA/NJ/DE CCIM Chapter President Jeffrey Hoffman, CCIM. “I am honored to welcome this new group of designees into our esteemed network of CCIM real estate professionals that are consistently sought out globally for their competence, work ethic and expertise.”
To earn the CCIM designation, commercial real estate professionals must complete more than 160 hours of case-study driven education covering topics such as interest-based negotiation, financial analysis, market analysis, user decision analysis, investment analysis, and ethics in commercial investment real estate. Candidates must also compile a portfolio demonstrating the depth of their commercial real estate experience and pass a comprehensive examination.
CCIM Institute is a global community of 13,000 members, more than 50 chapters, and 30 countries that educates and connects the world’s leading experts in investment strategy, financial analysis, and market analysis.
Last Thursday, the PA/NJ/DE CCIM Chapter held an innovative program focusing on the impacts of oil and gas development on the real estate market at the Lancaster Country Club.
This event was an eye-opening affair. Greg Elko from Langan Engineering presented an amazing talk about how oil and gas are forging change in the real estate industry. Beginning with an overview of the science behind oil and gas, he then discussed the present technologies related to the field concluding with the extraction and use of the fossil fuels. Elko also discussed the real estate development opportunities that are being fed by this industry saying, “we are on the precipice of a boom in the industries and development opportunities surrounding oil and gas. As the industry continues to mature, the real estate opportunities that support the industry will continue to grow.”
This event is another great example of how the PA/NJ/DE CCIM chapter remains on the cutting edge of real estate opportunities, news and education, consistently bringing first-rate presentations to its membership and guests.
In June CCIM was honored by The Association Forum (the association of associations in Chicago) as the inaugural recipient of “The Welcoming Environment Organizational Award”
This honor recognizes an association that has demonstrated exemplary outcomes in providing an inclusive and welcoming environment and culture. Association Forum created a short video featuring the EVP/CEO of the CCIM Institute, Gregory J. Fine and Alex Hanba, the CCIM Institute’s Director of HR and Administration.
The PA/NJ/DE CCIM Chapter held a sold-out event at the historic Union League of Philadelphia to learn about RealNex. Jeffrey M. Finn, RealNex President and CEO demonstrated the power of the RealNex solution, which is a full-service commercial real estate deal engine combining an area for agents to manage and upload their listings, a marketplace to shop for properties along with a Customer Resource Management (CRM) tool. RealNex, which describes itself as “the technology behind the deal” combines the former REA, REI Wise and Property Line. This streamlined solution is a great tool for both commercial real estate owners and brokers. There is a huge amount of interest in learning about – and deploying – the RealNex technology, as evidenced by the amount of participants at today’s event.