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February 7, 2014
Last Night at Trendlines
Is commercial real estate taking a page from the Redskins? At the Reagan Building last night for Transwestern's 17th annual Trendlines, we learned that succeeding in today's market may require a new playbook. (Just as long as it doesn't involve a new football coach.)
In front of 1,000 (wait, maybe it was a soccer game), Delta Associates CEO Greg Leisch (second from right) said big opportunities exist for owners in DC despite real estate's sluggishness. Greg's suggested playbook includes transforming obsolete assets, investing more in asset performance, and financing while rates are still low. Oh, and those guys with the hardware? Public sector nominee and Capitol Riverfront BID prez Michael Stevens and private sector honorees and StonebridgeCarras founders Doug Firstenberg and George Carras. With them: Transwestern's Eric Mockler, Keith Foery, and Phil McCarthy.
We snapped Spartin Planning's Anne Planning and Boston Properties' Jon Kaylor in the Reagan atrium. Two more opportunities, according to Greg: the new two-year budget approved by Congress in December finally gives the region some certainty with which to operate, as well as a national economy Delta expects to keep improving after a strong 2013. Back to these two pictured: Anne tells us she's done legal work on lots of Boston Properties' projects, including Market Square North, 901 New York Ave, 2200 Penn, and Reston Town Center.
Also in the atrium, we caught up with architect Bob Fox and Brookfield's Dave Bevirt, who tells us he's excited for his firm's upcoming revamp of 2001 M.
Easterly Partners managing director (and former public buildings commish) Joe Moravec, Transwestern's Jim Millard (down from NYC), and Ed Rynne of the Smithsonian Institution, who tells us the renovation is finishing up at the Arts & Industries Building. (How can they tell what's construction and what's just an exhibit on the construction industry?)
The gang from Bozzuto: Eric Fenton, Tess Guinn, and Mark Franceski. Eric and Tess are on the development side (Eric on the firm's Reston Station project, currently in the design phase, Tess on the soon-to-deliver Cadence at Crown in Gaithersburg), while Mark serves as director of research.
PNC Realty Investors' Clay Flanagan, Allison Prescott, and Andrew Rosti help manage the AFL-CIO's Building Investment Trust, which a few years back (with Trammell Crow) bought 400 6th Street SW, a vintage office building that was torn down and is being turned in to a new 470k SF property.
Yesterday at the Press Club
Also yesterday, we stopped by the National Press Club for Turner Construction's market forecast breakfast, where we snapped the event's moderator, Board of Trade CEO Jim Dinegar. Jim reports that “hearing from members of the board, the outlook is better than it feels.” (We had him swear on the National Press Club podium so you know he's telling the truth.)
We also caught up with Michael Tabassi of Tadjer-Cohen-Edelson Associates and the Eller Group's Wade Eller. Wade was excited to tell us that the company just broke ground on a new off-campus student housing project at UC-Berkeley, after recently completing a similar project at U of Michigan. Wade says this makes five ground-up student housing projects for Eller Group in the past six years.
Wear Red Day!
We know it's not Valentine's Day just yet, but some of Bisnow's finest decided to #GoRed anyway in support of National Wear Red Day, to support women's heart disease awareness. The American Heart Association says since the first National Wear Red Day in 2003, 34% fewer women have died of heart disease. Snapped here momentsago: (front) Rachel Fulchiero, Channing Muller, Laura Bellantoni and (back) Marie Finnegan, Scott Pacheco, Robyn Menish. You can learn more about the Go Red for Women campaign and how to prevent heart disease here.
Send Us Your Fish Tales: Both True and True But Unverifiable
Want to combine the two things you love? Go fishing, and you can win a ticket to a Bisnow event. We're rewarding people in every market we cover. Send us your biggest catch or your biggest fish story, and we'll pick the best. So if you catch tiny bass but tell big stories, you can still win. Need some fishing tips? Ask Quantum Real Estate Advisors EVP Jordan Kaufman in Chicago (above, on a recent fishing trip in Wyoming). The prize is a ticket to a Bisnow event in your market (or another market if you're looking for an excuse to find new lakes, streams, ponds, and oceans). Send your stories and pics to Sibley Fleming: email@example.com.
Calling All Cardinal!
Hi, this is your publisher speaking. The Stanford real estate community in Washington intends to gather for the first time, and yours truly (class of '73—yikes!) will loyally be there. If you're an alum or parent, mark down the evening of Feb. 12 for a group cocktail reception and networking dinner at a cool new DC restaurant. SPIRE (Stanford Professionals in Real Estate) is hosting, and the cost is $65 (or $45 for young alumni 10 years out), prices generously subsidized by SPIRE. Please RSVP to SPIRE's Andy Walburger and get full details: firstname.lastname@example.org. Hope to see you there. ("Fear the Tree" t-shirt optional.)
Now that Leno's gone, will you switch to Fallon? Or are you a Letterman person? Or can you not even stay up that late? Email email@example.com