The Most Influential Commercial Real Estate Events
Those who want to stay updated with latest real estate information need to understand the importance of real estate conferences. During such events you can obtain relevant real estate news and tendencies that are going in the real estate market. We offer you to check on the most significant real estate event of this year and find the information that would be useful exactly for your interests.
11th Annual Commercial Real Estate Forecast Conference
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The 11th Annual Commercial Real Estate Forecast Conference was held in Chicago on the 22nd of January, 2013 by Chicago Industrial Properties, Midwest Real Estate News and Illinois Real Estate Journal. The prominent speakers of the event were Andy Hochberg, managing principal and chief executive officer of Next Realty, Scott Carr, executive vice president of Inland Real Estate Corporation, Marlon Stone, executive vice president of Colliers International, and Charles Margosian III, senior vice president of Highland Management Associates Inc.
They predicted that 2013 would be a powerful year for retailers based in Chicago and its neighboring areas. Â Stone said that the optimism expressed by the members at the conference held last year was truly justified and the retailers he worked with made significant gains. The members said that Chicago was an excellent place for commercial real estate investment with everyone agreeing on the fact that the dearth in new construction and the demand for retail witnessing a growth.
Carr said that their expectations had exceeded in 2012. He added that leasing volume had grown across the range of retailers. However, there is one kind of retailer that seems to be performing remarkably-discounters. According to Stone, people now are tightening their purse strings and are living on a restricted income. Until this undergoes a transformation, the discounters will carry on expanding.
The members at the conference also said that Chicago and its suburbs are witnessing a jump to quality among various retailers. In the past, retailers who would have opened shop in Class-B hubs are flocking to A-level centers on account of low rents. However, a challenge still remains-are there any tenants now ready to do business from a C-level retail outlet?
These were some of the questions that drew the maximum attention at the commercial real estate conference.
The commercial real estate market in Chicago is an evolving and a vibrant one. The real estate brokers working here hardly suffer on a dull day.
28th Annual Triangle Commercial Real Estate Conference
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The 28th Annual Triangle Commercial Real Estate Conference was held at Raleighâ€™s PNC Arena on August 2nd, 2013. The program was organized by NAI Carolantic Realty. At the conference held last year, NAI Carolantic had predicted that 2012 would be a positive year with the rental rates hitting rock bottom. Jimmy Barnes, President of NAI Carolantic said that the overall performance of the commercial real estate market was strong and thereâ€™ll be plenty of room for further growth and development. He said this at a packed conference hall of more than 1,700 of eminent leaders from the business community. The conference is regarded as an authenticated report on the real estate sector of the Triangle.
Steve Stroud, Chairman of NAI Carolantic, greeted the guests and requested everyone to scrutinize a QR code to answer five questions that were business related. These questions pondered over the things that kept them awake at night and the issues that ought to be addressed in the beginning by Governor McCrory. The answers to these questions were displayed after 30 minutes.
According to Stroud, when NAI Carolantic organized its first commercial real estate conference 28 years back, genuine information on the market and property were difficult to obtain. He said that despite living in an era that is technologically driven at present, the company focuses on the fact the business of commercial real estate is a local relationship domain.
What Jimmy Barnes had to say
Jimmy Barnes took on the main role of reviewing the commercial real estate sector of 2012 and highlighted the prediction for 2013.
He said that investors from the US are still keen for holdings in the Triangle Region as itâ€™s getting difficult to penetrate into global metropolitan cities. He anticipated a continuous investment growth in second tier cities, which will be led by buyers of apartment, even though the retail sector has witnessed a great turmoil during the end of the year. The prices of well-located properties will see a growth since national builders can derive great benefit from raw land, according to Barnes.
The survey and examination by NAI Carolantic showed that in the Triangle Region, which has approximately 246 million square feet of commercial real estate property (shopping center space, office and multipurpose space), the amount of vacant space at the end of the year stood at 29 million square feet. Barnes said that the vacancy decreased in the multipurpose and office sectors, and fell by one point in the shopping center sector. He also said that improvement was seen in absorption in 2012. The company also anticipated the least number of construction starts in Q1 of 2013.
Barnes concluded his speech by saying that the apartment sector remains on fire with the falling of vacancy rates to 5.5%, which is the lowest since 1998.
Investor outlook for commercial properties in 2013
The investor outlook for the commercial real estate sector for 2013 is as follows:
- Trophy properties in great demand, however, availability is restricted.
- Hence, there is a growing fondness in second-tier markets, and cities like Durham and Raleigh are leading the way.
- Restricted availability of money and product results in the fall of cap rates to an all time low.
- Steady low rates of interest are the key that hold the investment environment together. (The interest rates will remain low all through 2014.)
- Institutional investors will carry on unloading properties belonging to Class-B and C. (You need to be cautious in this case.)
- Investment activity will go up by an additional 40%.
Speech by Dr Peter Linneman
Dr Peter Linneman, founding principal of Linneman Associates and CEO of the American Land Funds took the center stage after the speech by Barnes. He served for 32 years as Professor Emeritus of Real estate at the Wharton School of Business. He has a Masters as well as a Doctorate degree in Economics from the University of Chicago.
Linneman gave some insight into the economy recovery process of the nation and offered his perspective for 2013. He said that the US recovery is still underperforming and is â€śmediocreâ€ť for such a great nation.
The research by NAI Carolantic indicated a drop in area-wide vacancy rates falling in the office category to 14% in 2012 from the figure of 2011, which stood at 16%. The vacancy in shopping center dropped to 5% from 6%, and the multipurpose class dropped to 13% in 2012 from 16% a year ago. The multipurpose class includes industrial, flex and warehouse space. The minimum amount of new constructions is expected by the office category followed by the multipurpose class.
The Research Triangle submarket witnessed the highest office vacancy rate which stood at 19% which translates to 3.2 million square feet. However, this was a remarkable improvement compared to the figures of 2011, which stood at 23%.
The submarket in East Raleigh had the highest shopping center vacancy in 2012 at 9%. The maximum number of new constructions for 2013 is expected to take place at Cary/Morrisville, with around 200,000 square feet mainly in the Park West Village power center.
Global Retail Real Estate Convention
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The Global Retail Real Estate Convention, the biggest retail and shopping center conference took place in Las Vegas in May 2013. The three-day event, which had a record attendance, was a major stop for retail real estate owners and brokers, and is considered a forerunner in the health of the real estate sector in important markets. Around 33,000 guests were present this year, which was the highest number since 2007, as stated by the spokesman of the International Council of Shopping Centers (ICS).
Robert Knakal, chairman of Massey Knakal Realty Services said that the increase in attendance this year is an indication of the overall optimism among investors not only in the retail sector but the commercial real estate market too. He added that the transaction volumes have gone up, and people are very positive about the real estate market in the country. During the fall of the economy in 2008, the attendance level had fallen down to 26,000.
Glenn Rufrano, chief executive of Cushman & Wakefield Inc stated that the mood at present with respect to the commercial real estate market is upbeat. He added that 2013 will see a steady improvement in the economy with a global growth of 1.5-2% in GDP.
According to Rufrano, 2013 will witness modest rent growth and falling vacancy rates for each of the major commercial real estate sectors.
CUâ€™s Annual Real Estate Conference
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CUâ€™s Annual Real Estate Conference was held in downtown Denver on March 2013. Commercial real estate icons John Cushman and Gerald Hines treated commercial real estate professionals and students to a forthright discussion about their careers.
Hines, whose exceptional buildings adorn the globeâ€™s skylines, discussed on how a penchant for great architecture and innovation has directed his career, which started with a building of total area 5,000 square foot he constructed for his neighbor. Cushman, founder of Cushman Realty, now referred to as Cushman & Wakefield mesmerized the audience with the story of the headquarter shift of Boeing Co to Chicago from Seattle. Both the icons spoke about the main influencers in their careers and Gen Yâ€™s fondness for dense and small living spaces.
Hineâ€™s said that he would rather trade comfort to large commercial real estate buildings and rather make a short commute. Cushman told the students that young people usually take a shortcut. However, the needs of the client have to be addressed first as this will pay off greatly during the course of oneâ€™s career, he added.
Realshare Apartments Conference 2013
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The much talked about Realshare Apartments Conference is scheduled to be held on the 11th of Nov, 2013 at Viceroy, Miami. The broadening of the Panama Canal and the way this increased capacity will have an impact upon the distribution of items from the ports to and from the East & Gulf Coasts will be the most important topic that will be discussed.
Why should you attend this event?
Participants can have admittance to the vital thinking of renowned industry leaders and speakers, besides the ability to build new business partnerships with various leading owners, investors, lenders, service providers, brokers and developers from across the country.
The event with more options of corporate branding, more leadership positions, more visible exhibitor spaces, will provide its marketing partners with a compatible environment, wherein they can promote the message of their company to around 250 high-level decision makers.
Click here to know more.
Importance of Commercial Real Estate Conferences and Conventions
Some importance of commercial real estate conferences besides the usual cocktail parties, dining and dancing are as follows:
The serious side of commercial real estate conferences is the education opportunities offered via lectures and workshops.Â Trainers, thought leaders, top industry experts and renowned speakers offer information on great issues and topics that are valuable to team leads, agents and brokers. If you were to acquire the same training from outside sources, it would have cost you thousands of dollars. The conference halls are always packed with new technology and numerous vendors who offer innovative ways for the smooth and smart running of your business.
Besides learning opportunities from these vendors, they offer a lot of engagement with these important partners to your business-closing gift companies, sign companies, office supply, photographers, mortgage lenders, insurance, lead generation, e-mail marketing, transaction management and contact management among others.
All of us want some degree of inspiration, and whatever we hear at these commercial real estate conferences inspire us to excel. While attending a conference, if a prominent leader discusses on how he became successful, youâ€™ll surely model his techniques.
Bottom line: Commercial real estate conventions are a great way to keep yourself updated with the market. It also offers a perfect platform wherein you can voice your opinion and learn from the top leaders in the industry.
Click here to know more about the conferences to be held this year.