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What's New!

Dear Valued NAIOP Members and Leaders in the Real Estate Industry:

At the beginning of the year, we predicted that 2011 would be a healthier year for our regional industry than 2010. Admittedly, our forecast was far from controversial. Our region experienced falling vacancies, rebounding rents in select submarkets, and increasing investor willingness to categorize vacancy as opportunity. That said, the headwinds were strong, representing both macro-economic and political uncertainties and, in many cases, justifiable fears.

While a consensus has been forming that our upward trajectory will continue in 2012, there are enough dissenting voices that contrarians are wondering which side they should pick. These are the circumstances that create markets for buyers and sellers, tenants and landlords, bulls and bears. Each trade has two sides, and we are seeing enough differences of opinion to create opportunities for both.

NAIOP's San Francisco Bay Area Chapter strives to provide the tools for our members and sponsors to navigate this environment. Our educational programs, networking opportunities and legislative advocacy are considered best in class. This will continue in 2012, with a full calendar of events such as:

• The 23rd Annual Real Estate Challenge
• 4th Annual San Francisco Bus Tour
• 7th Annual NAIOP Golf Tournament
• 9th Annual Capital Markets Lunch
• 4th Annual Developing Leaders CEO of Tomorrow event
• Our 1st Annual Real Estate Excellence Awards Dinner
• Our 1st Annual Fleet Week Rooftop Barbecue

We will continue to grow our 100 member-strong Developing Leaders program, providing the next generation of decision makers a forum for advancing their careers and our industry.

We are exceptionally proud of the efforts of our Legislative Affairs Committee (LAC), who, on behalf of our members, advocate on legal issues affecting the commercial real estate industry on a national, state and local level.

• AB 350 (The Displaced Property Service Employee Opportunity Act) – The LAC helped defeat this bill which would have required service providers (such as building maintenance, security, window cleaners, etc.) with a new contract for a particular property to hire all of the prior vendor's employees.


• Mandatory Benchmarking Regulations (AB 1103 /AB 531) – Beginning July 1, 2012, commercial real property owners will start becoming impacted by AB 1103, which will require disclosing the energy efficiency information for a building when selling, leasing or financing that building. Through the specific input of the LAC, the timing of these reporting requirements was moved back to after executing a particular purchase agreement, lease or loan application (as opposed to the original proposal which would have required disclosure before bringing the transaction to market).


• Split Roll Property Tax Initiatives – The LAC helped stop: (i) an initiative to enact an immediate 55 percent increase in all private non-residential state property taxes; and (ii) a legislative bill that would have automatically reassessed all corporate commercial properties every three years.


• Like Kind Exchanges – The LAC helped stop two separate bills that would have disallowed 1031 exchanges for California real estate.

In 2012, the LAC will continue to fight legislation adverse to our industry, meet on a regular basis with the federal, state and local representatives and increase its advocacy on a local level by building coalitions with other Bay Area advocacy groups.

I am honored to represent the San Francisco Bay Area Chapter of NAIOP and wish to thank all our members for their continued participation support of our chapter. I look forward to working with you in 2012!

Terry Daly
2012 President
NAIOP San Francisco Bay Area Chapter