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Speakers and Panels

Michael Panzica

Michael Panzica

Principal

Hemingway Development

Cecilia Hyun

Cecilia Hyun

Partner

Siegel Jennings Co., L.P.A.

Michael Panzica

Principal

Hemingway Development

Mr. Panzica has been in the commercial real estate industry for over ten years and has participated in the acquisition and development of projects totaling over $500 million. His primary focus is sourcing of projects, the financial analyses on development and acquisition initiatives and determining the economic feasibility of these potential opportunities. He is responsible for initial due diligence, financial structuring of transactions, sourcing of debt, and on-going due diligence through closing. In addition, Michael has worked to obtain financing through New Markets Tax Credits and State and Federal Historic Tax credit programs for complex urban projects.

Cecilia Hyun

Partner

Siegel Jennings Co., L.P.A.

Cecilia is a partner at the firm and represents taxpayers in all aspects of the property tax challenge process from local review boards through the Ohio Supreme Court, reviews and monitors property tax assessments, and counsels investors on tax implications of acquisition and disposition. She also served as the 2017 President of CREW Cleveland, a chapter of CREW Network, an organization of approximately 10,000 commercial real estate professionals of all disciplines located in 70+ major markets in the United States, Canada, and the United Kingdom. Her articles on property tax issues have been published in the Heartland Real Estate Business, Properties Magazine, Cleveland Metropolitan Bar Association Bar Journal, Restaurant Facilities Business Magazine, and the IPT Insider. Her article, “Big-box retail offers property tax lessons for industrial owners” published in the National Real Estate Investor, is referenced in the IAAO Library Big-Box Retail Store Valuation Subject Guide. Education: Cleveland-Marshall College of Law, magna cum laude; McGill University, BA, English Literature; East Asian Studies; Bar Admissions Ohio – 2004. Professional Associations: CREW Cleveland; Institute for Professionals in Taxation (IPT), and Ohio State Bar Association.

Opening Remarks

Frank Jackson
OPENING REMARKS

Frank Jackson

Mayor

City of Cleveland

Frank Jackson

OPENING REMARKS

City of Cleveland

Cleveland’s 56th Mayor, Frank G. Jackson, took office January 2, 2006. He has since been re-elected three times - in 2009, 2013, and 2016.

As Mayor, Jackson is focused on ensuring that the City offers an excellent quality of life for every resident, business and visitor; and, is addressing every aspect of operations and policy to guarantee that he reaches that goal. He is committed to providing exceptional, quality service and has led positive change throughout his tenure as mayor, particularly in the areas of Public Safety, City Finances and Operations, Education, Sustainability and Development.

Mayor Jackson is a Cleveland Public Schools graduate and Army veteran. He earned an associate’s degree from Cuyahoga Community College and his bachelor’s degree, master’s degree, and law degree from Cleveland State University. Jackson began his public service career as an Assistant City Prosecutor in the Cleveland Municipal Court Clerk’s Office. From 1990 through 2005, Jackson represented Cleveland’s 5th Ward on Cleveland City Council. From 2002 – 2005, Jackson also served as President of Cleveland City Council.

The NEO Story

The Role of Cleveland's Industrial Market

Ed Asher

Ed Asher

President of Business Development

Weston Inc.

Ferdinand Seefried

Ferdinand Seefried

Executive Chairman

Seefried Industrial Properties

Terry Coyne

Terry Coyne

Vice Chairman

NKF

Adam Goldberg

Adam Goldberg

VP of Construction

Seefried Industrial Properties

Kieran Jennings
Moderator

Kieran Jennings

Managing Partner

Siegel Jennings Co.

Ed Asher

President of Business Development

Weston Inc.

Ed joined Weston in 1987, the first of the Asher brothers to join the corporation.  He has since

held positions in acquisitions, development, dispositions, property management, financing and leasing.

Ed has identified attractive acquisition and development opportunities to expand Weston’s

footprint.  He has worked on multiple complex debt and financing transactions including over $200 million

of Federal and State Government loans, and conventional bank, insurance company and conduit loans

and Port Authority Bond financings.  He has also raised over $50 million from various equity sources

including Federal and State Historic Tax Credits and private and institutional investors.

An active participant in the corporation’s Board of Directors, he has served on numerous

Boards including The City Club of Cleveland, The Salvation Army, The American Task Force for Lebanon

and the Aitaneet Foundation.

Ed received a Bachelor’s degree from Auburn University and Master’s degree in Business

Administration from Case Western Reserve University.  A Cleveland native, he resides in Russell, Ohio

with his wife, Becky and their three children.

Ferdinand Seefried

Executive Chairman

Seefried Industrial Properties

Mr. Ferdinand Seefried founded Seefried Properties in 1984 to develop industrial real estate,

focusing on locations near airports and targeting international freight forwarding and

transportation companies.

With Mr. Seefried's close ties to European financial institutions and leading international freight

forwarders, the company quickly emerged as the leader in warehouse development around

Hartsfield-Jackson Atlanta International Airport. Mr. Seefried has expanded from his origins as a

European capital investor in Southeastern U.S. commercial real estate to become one of the most

active builders of highly functional distribution and warehouse facilities in the United States.

Starting in the 1990s Mr. Seefried expanded his successful business to Orlando, Tampa, Dallas-

Ft. Worth, Houston, Phoenix, Los Angeles, Salt Lake City, Chicago, and Washington, D.C.

Seefried Properties is now actively developing bulk distribution and air cargo warehouses in all

these markets. Mr. Seefried's vision for the company is to grow a significant presence in all

major U.S. distribution markets. The company has developed 60 million square feet of industrial

properties and is managing over 25 million square feet of warehouses.

Prior to starting Seefried Properties, Mr. Seefried served as an executive for Transatlantic Group,

a European based real estate advisory group. He was responsible for the acquisition and property

management of a commercial real estate portfolio in excess of $450 million.

Mr. Seefried has served as a diplomat for his native Austria since 1989. He is Honorary Consul

General of Austria for Georgia, Alabama and Tennessee. He is a member of the Capital City

Club Atlanta, the US Austria Chamber of Commerce New York and holds a Director position in

Stonebranch, Inc., Atlanta. Mr. Seefried is also a member of the Advisory Council of Emory

University, Department of German Studies and a board member of the Goethe Zentrum Atlanta.

Mr. Seefried holds a master's of business administration from the University of Munich.

Terry Coyne

Vice Chairman

NKF

Terry Coyne is a vice chairman in the Cleveland office of commercial real estate services firm, Newmark

Knight Frank (NKF). Over the past ten years, he has been involved in the sale or leasing of more than 1

billion dollars’ worth of real estate. In his 20-plus- year career, his specialty has become large, complex,

industrial and investment properties that cover the northern part of the state of Ohio.

A top earner in the Cleveland office since 2002, Terry has recently earned the distinction of being the

top-producing industrial broker for NKF nationally in 2013, 2014 and 2016. He has placed in the top 50

(2013) and top 20 (2014) amongst all commercial real estate brokers in the United States. In 2017, Real

Estate Forum selected Terry as 13th in the United States in overall industrial leasing and 13th in the

United States in overall industrial investment sales from July 1, 2016 to June 30, 2017. Terry is also a

multiple winner of NAIOP Broker of the Year, Industrial Transaction of the Year and Investment Broker

of the Year. He is a Midwest Commercial Real Estate Hall of Famer.

Terry is a member of the Society of Industrial and Office Realtors (SIOR), is a Certified Commercial

Investment Member (CCIM) and a member of the Cleveland Area Board of Realtors (CABOR). In addition

to being an active industry leader, he is a dedicated community leader as a board member of the Rock

and Roll Hall of Fame and Museum, Village Capital Corporation and Magnificat High School. Terry earned

his master’s degree from the University of Chicago and his bachelor’s degree from the University of

Notre Dame. He has also attended St. Catherine’s College, Oxford University.

Adam Goldberg

VP of Construction

Seefried Industrial Properties

Mr. Goldberg joined Seefried in May 2016 as Vice President of Construction. He is responsible for

managing development and construction activities for Seefried’s build-to- suit and speculative

developments throughout the United States from entitlements through construction completion.

He has recently completed an Amazon fulfillment center in Houston, TX and a two building

speculative development in Buford, GA. Currently he is managing the two new Amazon

fulfillment centers being built in NE Ohio – North Randall and Euclid.

Prior to joining Seefried, Adam spent 11 years with ARCO Design/Build as a Senior Project

Manager on industrial speculative & build-to- suit projects and cold storage facilities on the

Eastern half of the United States for companies such as Whole Foods, Icelandic, Topgolf, Mando

America, Vistar and American Tire.

Prior to ARCO, Adam spent 8 years at The Facility Group as a Project Manager on industrial and

food processing projects across the Unites States and France for such companies as Coca-Cola

Enterprises, Dairy Farmers of America, Randalls Markets and Meadowbrook Farms.

Adam earned a Bachelor of Science in Building Construction from The Georgia Institute of

Technology and is a LEED Accredited Professional.

Kieran Jennings

Moderator

Siegel Jennings Co.

Kieran Jennings is Managing Partner at Siegel Jennings Co., L.P.A. Previously a Certified Public

Accountant (CPA), Kieran focuses his practice on real property taxation and general state and

local tax litigation. He has successfully tried cases before administrative boards, tribunals,

courts, and appellate courts, including the Ohio Supreme Court. Kieran has experience in

managing real property tax appeals throughout the U.S. and Canada and assists clients in due

diligence property acquisitions, tax planning, and structured agreements between taxpayers

and taxing jurisdictions.

Kieran is the Vice President and a member of the Executive Board of the American Property Tax

Counsel (APTC), a national organization of which Siegel Jennings is a founding member. Kieran

was the 2022 Chair and 2023 Vice Chair for the Central and Northern Ohio Chapter of the

Counselors of Real Estate and previously served on the Board of Directors for the Northern

Ohio Chapter of NAIOP. Kieran regularly conducts seminars and workshops on various property

tax issues for industry groups like the National Retail Round Table, The Ohio Society of CPAs,

Institute for Professionals in Taxation (IPT), National Business Institute, and Lorman Education

Service.

In 2016, Kieran was awarded the CRE (Counselor of Real Estate) credential by The Counselors of

Real Estate, an international group of high-profile real estate practitioners who provide expert

advisory services to clients on complex real property and land-related matters. Of the over

150,000 practitioners in commercial real estate today, fewer than 1,100 currently hold the CRE

credential.

Downtown Cleveland

What to Expect in 2018?

Richard Pace

Richard Pace

CEO

Cumberland Development, LLC

Michael Barron

Michael Barron

Senior Managing Director

Institutional Property Advisors (IPA), a division of Marcus & Millichap

Cindy Kula

Cindy Kula

Senior Manager, Tax

Walthall Rea CPAs

Suzanne Hamilton
Moderator

Suzanne Hamilton

Vice President, Commercial Real Estate Loan Officer

First Federal Lakewood

Richard Pace

CEO

Cumberland Development, LLC

Richard Pace is a registered architect in Ohio. Upon receiving his architectural degree from the

University of Michigan in 1979, Pace began his practice with Dalton, van Dijk, Johnson

Architects in Cleveland, Ohio. During his time at the firm, he managed numerous large and

complex projects, including master plans for the city’s waterfront, Warehouse District and

University Circle, as well as corporate headquarter projects for BF Goodrich, Lubrizol and

Parker Hannifin. He also managed the preservation of the Society for Savings Building on

Public Square (KeyBank Headquarters) as well as the preservation of President Garfield’s home

in Lawnfield.

Pace became Partner at the firm in 1989 and Managing Partner in 1992. During his time in

management, the firm integrated engineering into its services; an office in Phoenix, Arizona was

added; the firm’s staff more than doubled to 125 people, and revenues increased from $4 million

to $18 million annually. At the end of 2001, Pace sold his ownership in the firm to his Partners

and, in 2002, founded Cumberland Development, LLC.

Cumberland Development currently owns and manages two properties - the Cleveland Clinic

Foundation Business Operation Center in Independence, Ohio, and the Baker Electric Building

in Cleveland, Ohio - and maintains a master lease on the ground floor retail portion of a third -

the historic Euclid and Colonial Arcades, now branded as the 5 th Street Arcades, in downtown

Cleveland.

In early 2014, the City of Cleveland selected Pace as the developer for the Cleveland Lakefront

project. In June 2014, Cleveland City Council approved plans for the $700 million development

that will be built over three phases. The project, a joint venture between Cumberland

Development and Trammell Crow Company of Dallas, is situated on 20+ acres north of the

Cleveland Browns’ stadium and Rock and Roll Hall of Fame and Museum, and will include a

school, a boutique hotel, restaurants, office space and apartments.

Pace’s other real estate development experience includes the purchase, renovation,

management and successful sale of three apartment buildings in University Circle and a

commercial project, the Lorenzo Carter Building, in downtown Cleveland’s Warehouse District.

Dick lives in Shaker Heights, Ohio with his wife, Cheri, and his son, Alex and daughter,

Catherine. He currently serves as a Trustee for the Breakthrough Charter Schools.

Michael Barron

Senior Managing Director

Institutional Property Advisors (IPA), a division of Marcus & Millichap

Michael Barron is a senior managing director of Institutional Property Advisors (IPA), a division of

Marcus & Millichap. Mr. Barron and his business partners, Daniel Burkons and Joshua Wintermute,

oversee IPA’s Midwest multifamily operations.  Mr. Barron is one of three original founders of Marcus &

Millichap’s Cleveland Office. His leadership and specialization within the Midwest apartment market

enables him to create substantial value for major private and institutional investors.  Mr. Barron joined

the firm in 2003 and he and his team, Barron, Burkons, Wintermute Group (BBWG) have sold over

42,000 units across 14 states totaling over $1.83 billion. In 2012, Mr. Barron was inducted into the

Midwest Commercial Real Estate Hall of Fame , he currently holds the CCIM designation, and he

received his Bachelor of Arts degree from The Ohio State University.

Cindy Kula

Senior Manager, Tax

Walthall Rea CPAs

With more than 40 years of public accounting experience, Cindy has spent

the majority of her career concentrating in taxation.

Regularly assisting clients with tax, financial, and estate planning. She

specializes in partnership and corporate tax law with an emphasis in the real

estate, health care, and dental industries.

A graduate of Cleveland State University with a Bachelor of Science in

computer and information science, Cindy is a frequent speaker to and writer

for industry, business, and community groups and trade associations.

Cindy is a member of the American Institute of CPAs, The Ohio Society of

CPAs, and The OSCPA Scholarship Committee. She also sits on The OSCPA

Global Advisory Committee and previously was part of the planning

committee of the MEGA Tax conference.

Cindy is a Eucharistic minister and former PSR instructor at St. Columbkille.

In addition, she served on the strategic planning committee of Parma City

Schools. An honorary lifetime member of both the National Parent Teacher

Association and Ohio PTA, Cindy held many different offices over the years,

including president.

In her spare time, she enjoys walking, volunteering, and spending time with

family.

Suzanne Hamilton

Moderator

First Federal Lakewood

A seasoned financial professional with more than two decades of experience, Suzanne Hamilton

is Vice President and Commercial Real Estate Loan Officer at First Federal Lakewood, the largest

independent depositor-owned bank headquartered in Ohio with assets of $1.6 billion. In this

role, she cultivates new client relationships, provides expert profitability analysis of project

investments, and manages commercial real estate customers. Suzanne has received several

professional accolades including the CREW Award for Exceptional Achievement and the CREW

Member of the Year Award. She was also inducted to the Biltmore’s “Who’s Who” list in 2007

and in 2008 was named as a YWCA Woman of Professional Excellence. Suzanne graduated with

a degree in Accounting and Finance from Otterbein College and holds a Master of Business

Administration degree in finance and marketing from The Ohio State University.

BUSINESS DEVELOPMENT

• As the Vice President at a $162 billion international financial organization, generated $150

million in new business annually.

• Developed and managed portfolios ranging in size from $56 million to $300 million.

• Increased commercial real estate sales for a local financial group from $20 million

to $56.5 million within 18 months.

• Implemented initiatives with the commercial real estate team of a $58 billion regional

financial institution and the treasury management group that increased deposits by

27% in one year.

PORTFOLIO MANAGEMENT

• Structured financial solutions for investors and developers that included loans,

derivatives, deposits, and cash management strategies.

• Created a loan portfolio for Real Estate lnvestment Trusts and REIT-sized companies

of $230 million.

• Delivered an innovative model of Optimal Customer Relationship strategy to

Commercial Real Estate teams.

UNDERWRITING

• Directed the Underwriting process to ensure viability and accuracy.

• Developed analyses and valuations on commercial properties, investments and projects.

CIVIC & PROFESSIONAL ASSOCIATION INVOLVEMENT

• Advisory Council member and former President of Commercial Real Estate Women

• Current member and former President of Greater Cleveland Real Estate Association

• First American National Commercial Services Advisory Board

• YWCA Board of Directors

• Member of Commercial Real Estate Women (President 2002) and NAIOP

• HRC Board of Directors

• Guest Lecturer at Cleveland State University, College of Urban Affairs

• Treasurer of the United Church of Christ Council

Event Emcee

Brian Hurtuk

Brian Hurtuk

Managing Director, Principal

Colliers International

Brian Hurtuk

Managing Director, Principal

Colliers International

Brian A. Hurtuk serves as Managing Director

for Colliers International in Cleveland. In his

role, Mr. Hurtuk provides the leadership and

guidance necessary to elevate the Colliers

International brand to a wide variety of

commercial real estate users. With more than

30 years of commercial real estate and

business development expertise, Mr. Hurtuk

utilizes his extensive background in office

sales and leasing to serve as market leader

for the Cleveland office.

PROFESSIONAL ACCOMPLISHMENTS

Mr. Hurtuk is an active member of numerous

professional associations and also has been

recognized for his professional expertise by

many of the organizations below:

• National Association of Industrial and

Office Properties (NAIOP), “Investment

Deal of the Year” Winner, 2012

• Newcomer of the Year, Colliers

International, 2013

• Midwest Real Estate Hall of Fame, 2013

• Crain’s Cleveland Business, Forty Under 40

• NAIOP Board of Trustees, 1989-Present

• Leadership Cleveland-Class of 2002

• NAIOP, President (Northern Ohio Chapter),

1992-1993

• CoStar Power Broker, 2012, 2014 & 2016

• St. Peter Chanel High School Alumni Hall

of Fame, 1989

BUSINESS BACKGROUND

Mr. Hurtuk began his career at Ernst &

Whinney (now Ernst & Young) as an auditor.

After more than five years in the accounting

field, he made the transition into the

commercial real estate industry when he

joined Ostendorf-Morris Co. as a sales and

leasing specialist.

In 1992, he accepted a position with Amsdell

Companies where he oversaw the ongoing

leasing of more than 25 business parks

throughout the United States, and

spearheaded the development of several new

projects in Northeastern Ohio. Prior to

leading the Cleveland office of Colliers

International, Mr. Hurtuk served as First Vice

President for CBRE and specialized in office

leasing in Cleveland’s Central Business

District.

COMMUNITY INVOLVEMENT

• The Ohio Foundation of Independent

Colleges

Board of Trustees

• The Cathedral of St. John The Evangelist

Lector

Summary

1) What are developers evaluating in the context of their larger development plan for Greater Cleveland and Downtown?

2) How dependent is Greater Cleveland on its’ NEO counterparts and where are the best opportunities to be had?

3) What are the odds of relaxed regulation in Cleveland, particularly in gaming & medical marijuana industry and how does this impact the local CRE market?

4) How are Cleveland’s local players increasing the City’s appeal to Millennials, Generation Z and the cohorts that follow?

Venue

Metropolitan at the 9 Hotel Cleveland
2017 E. 9th St.
Cleveland, OH 44115

Ballroom: Mint Ballroom, Level b1 (level below lobby)


Valet Parking at $20 per car

Off-SiteHalle Bros. Parking Garage: 1212 Huron Rd E, Cleveland, OH 44115
Early bird rate (before 8:30 am): $8
After 8:30 am: $11

**Please click here for other off-site parking options.

Agenda

Time Activity
Tuesday February 20, 2018
1:50 PM
2:00 PM
Opening Remarks from Mayor Frank G. Jackson
2:00 PM
2:45 PM
Panel 1: The NEO Story & Where Cleveland Lies
2:45 PM
3:30 PM
Panel 2: Downtown Cleveland - What to Expect in 2018?
3:30 PM
4:30 PM
Post-Panel Networking
Wednesday February 21, 2018
1:00 PM
1:50 PM
Breakfast & Networking

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