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COMMERCIAL BROKER QUARTERLY
November 15, 2010

4Q 2010 Edition

Letter From the President

Letter from the PresidentGood grief...seems like only yesterday I accepted the honor from Chris Sowick of Cassidy Turley to become president of GWCAR...and now the year is practically over.  How did that happen?

 

In a tough economy, GWCAR has done surprisingly well. We started the year with an esteemed panel of industry leaders speaking out on the state of the commercial real estate market at our January Summit.  Moderated by Alex Orfinger, publisher of the Washington Business Journal, panelists were asked, "if the industry were analogous to a baseball game, in what inning are we?"  Answers ranged from "top of the second" to "the players are just putting on their uniforms".  Now, only ten months later, the general opinion is that the commercial real estate industry's recovery is somewhere in the 7th inning.

 

Much has happened in the region and so it has with GWCAR as well.  Membership held steady, our annual awards dinner enjoyed a record attendance, the golf outing was one of the best ever, RealTOUR which focused on NoMa, captured the interest of over 200 brokers, and our "Best Practices" seminar series had a collective attendance of more than 385 real estate professionals.

 

In addition to these special events, we updated the organization's Strategic Plan, created a new Retail Committee and began a concerted effort to help young professionals connect with seasoned brokers and appreciate the importance of being a GWCAR member.

 

As this year draws to a close and Gary Cook from Vornado takes the reins of leadership, I want to thank a number of people who have made 2010 a memorable year.  First and foremost is the exceptional staff of GWCAR, led by Chief Executive Officer, Amy Ritsko-Warren. To Amy, Ed Krauze, Meredith Weisel, Charmaine Flanagan, Heidi Bogdansky, Bobette Banks and Sandy Hargis, I give heartfelt thanks for the extraordinary efforts you've given to GWCAR this year.

 

For volunteerism above and beyond the call of duty, special thanks go to Amy Bowser (Awards), Katie Burton (RealTOUR) and Kay Chewning (Education) as well as to members of the Board of Directors who guided us with their thoughtful opinions and sage advice.

 

To our sponsors, we deeply appreciate and thank you for your involvement and support throughout the year.  And to our members, make your New Year's resolution now to get involved and remain active in this region's only organization that serves as the official voice for commercial real estate brokers  We now have Facebook and LinkedIn pages, so check us out!


Susan A. Pepper
2010 GWCAR President
Grubb & Ellis Company

Bruce Pascal Recognized as 2010 NAR Commercial National Awards Recipient

Congratulations to Bruce Pascal, Executive VBruce Pascalice President, CB Richard Ellis, for his outstanding professional achievements in commercial real estate.  Bruce is featured in the Winter 2010 edition Commercial Connections, the publication that showcases the 2010 Awards recipients.  The publication is circulated to over 20,000 commercial real estate practioners across the United States.  Read about Bruce and the other award recipients.


RealTOUR 2010 Highlights NoMa and Capitol Hill

The Capitol rotunda was the perfect backdrop for this year's RealTOUR on September 23.  The day was hot and steamy, but attendees enjoyed the expansive space at 300 America's Square at New Jersey Avenue, the site of the Development Expo.  With more than 200 registered attendees and over 20 exhibitors, attendees networked with fellow colleagues, and then embarked on the walking tour through NoMa and Capitol Hill led by tour captains, Bruce Pascal - CBRE, Scott Franklin - Tishman Speyer, Katie Burton - Akridge, and Mark Sullivan - Cassidy Turley. 

The day ended with a reception hosted by Premiere Sponsor Tishman Speyer at their showcase location, 1100 First Street, NE, which provided a panoramic vista of DC from the 12th floor space.  Listen to highlights from Tishman Speyer's Dan Dooley and other attendees.  

Many thanks to Katie Burton, 2010 RealTOUR Chair, the RealTOUR committee, and of course our sponsors for a great event!
2010 GWCAR RealTOUR
Tishman Speyer's Dan Dooley welcomes guests to 1100 1st Street, NE



2010 GWCAR RealTOUR
GWCAR CEO Amy Ritsko-Warren, and RealTOUR Chair Katie Burton, Akridge, present check to Tracy Monson of So Others Might Eat (SOME)

2010 GWCAR RealTOUR
GWCAR Board Member Chris Lucey, Cassidy Turley (far right) joins a tour group


Thank You Susan Pepper

Your leadership and vision as 2010 GWCAR President has been a tremendous benefit to the commercial real estate community.   

GWCAR Launches Facebook and LinkedIn Pages

GWCAR has launched its Facebook and LinkedIn pages!  Check them out and let your fellow colleagues know about the many benefits of GWCAR membership! 
Transforming Tysons - July Best Practices Seminar

The adoption of the Comprehensive Plan for Tysons Corner in late July proved to be excellent timing for the Best Practices Seminar, Transforming Tysons on July 28.  Attendees packed the main auditorium at the Concourse Building  to hear Tony Calabrese and Jill Parks from the Land Use and Zoning Practice at Cooley, LLP discuss updates on the Silver Line Rail to Dulles and important developments in the Reston-Herndon corridor, in addition to details about the Tysons Comprehensive Plan.

Best Practices July 2010
2010 Best Practices Chair Kay Chewning, Vornado, Susan Sonley, Grubb & Ellis, Tony Calabrese & Jill Parks, Cooley LLP, Mark Sullivan, Cassidy Turley, & Andy Eichberg, Tishman Speyer

Best Practices July 2010
Kay Chewning, Susan Sonley, and featured speakers Tony Calabrese and Jill Parks of Cooley, LLP



50 Ways to Get Business
October Best Practices Seminar Featured Bruce Pascal
 
A sold-out crowd packed the training room at CBRE on October 7 to hear Bruce Pascal's presentation on 50 Ways to Get Business.  Seasoned veterans and rookies alike were poised with pen in hand to capture Bruce's tips on ways to get and keep business.  With over 20 years of experience in commercial real estate, Bruce stressed the value of building and maintaining relationships and going the extra mile. He reminded the crowd that opportunities can be found where you least expect them and everyone is a potential business lead.  Visit www.gwcar.org to get a copy of Bruce's presentation 
Best Practices Oct. 2010
Best Practices Oct. 2010
Bruce Pascal waits to address crowd
GWCAR President-Elect Gary Cook with Cy Kouhestani, Cushman & Wakefield 
Best Practices Oct. 2010
Best Practices Oct. 2010
Bruce Pascal, with from L - R,Sandy Michaels, Vornado,Kathyrn Ciliberti, DBI Architects, and Kay Chewning
Bruce Pascal with Gary Cook


There was a captive audience for the last Best Practices event of the year - Social Media Networking in Commercial Real Estate - How Can It Help You? on November 10.  The event was sponsored by Carr Properties and Washington Workplace and featured Dave Groobert and Kristen Wesley from Environics Communications.  Attendees heard why tapping into this ever changing and growing network should be a part of your marketing strategy.
Best Practices Nov. 2010 Best Practices Nov. 2010
Sarah Gabriel, Washington Workplace, Mark Sullivan, Cassidy Turley, 2010 GWCAR President Susan Pepper, Grubb & Ellis, Amy Bowser, Jones Lang LaSalle, and GWCAR Treasurer Moe Hamilton, Cushman & Wakefield
GWCAR Past President Chris Sowick, Cassidy Turley, with featured speakers Dave Groobert & Kristen Wesley from Environics Communications
G W C A R   ME M B E R S  G I V I N G  B A C K

Amy Bowser Empowers Others Through Her Work With KEEN


Amy Bowser of Jones Lang LaSalle sits on the Board of Directors and Executive Committee for KEEN Greater DC.  She is also Co-Chair of the Development Committee and a Co-Chair of KeenFest 2010, the organization's largest yearly fundraiser. This year's sold out dinner and silent auction  - Passport to Paris - took place on November 5 at the French Embassy and featured Bezu Restaurant's Executive Chef, Dennis Friedman.


KEEN (Kids Enjoy Exercise Now) is a national, nonprofit led organization that provides one-to-one recreational opportunities for children and young adults with developmental and physical disabilities at no cost to their families and caregivers. KEEN's mission is to foster the self-esteem, confidence, skills and talents of its athletes through non-competitive activities, allowing young people facing even the most significant challenges to meet their individual goal. KEEN is modeled on an innovative program established in Oxford, England by Elliott Portnoy, who brought KEEN to the Washington, DC area in 1992. With help from a handful of parents and volunteers, KEEN started as a single program in the Greater DC area. To learn more about the organization or to make a donation, visit, www.keenusa.org.

KEEN
KEEN athlete receives medal at the Proud Circle award ceremony
KEEN
KEEN athlete gets autograph from honorary board member Dominique Dawes while Amy Bowser looks on
Third Quarter Market Report

Courtesy of Cassidy Turley


Washington, DC Market Report3rd Quarter Market

The DC region has experienced a surge in demand in 2010, especially from the public sector. The region has absorbed over 5.1 million square feet (net) year-to-date, well on its way to meet our forecast of 5.7 million square feet of absorption by the end of 2010.Read more >>>


Maryland Market Report

Suburban Maryland continues a slow, but steady recovery in the third quarter of 2010. Demand is on the rise, evident with the continued increase in tenant activity this quarter. Net absorption registered at 253,000 square feet, up from 138,000 square feet last quarter. Significant deals this quarter were Trax International, a government contractor, signing for 120,000 square feet at 6301 Ivy Lane in Northern PG County and Reznick Group relocated and downsized to 105,000 square feet at 7501 Wisconsin Ave. Read more >>>


Northern Virginia Market Report

Northern Virginia's office market had one of its busiest summers in recent years, as it experienced a great deal of leasing activity in the third quarter. The market posted gross absorption of 3.25 million square feet, a 10% increase over a year ago. Net absorption in the third quarter came in at approximately 514,000 square feet, bringing the year-to-date total to 1.57 million square feet, compared to negative (1.75) million square feet in all of 2009.Read more >>>


DC ELECTION UPDATE

In the District of Columbia elections, it was SIX for SIX - the number of WDCAR RPAC-endorsed candidates who won their races on November 2.

Vincent Gray for Mayor
Kwame Brown for Council Chair
Phil Mendelson for At-Large Councilmember
Harry "Tommy" Thomas, Jr. for Ward 5 Councilmember
Tommy Wells for Ward 6 Councilmember
David Catania for At-Large Councilmember
NEWS FROM THE NATIONAL ASSOCIATION OF REALTORS®
2010 Commercial Real Estate Advocacy Timeline


Learn about the most current NAR advocacy for legislation that helps support REALTORS®and commercial issues. 
Read more >>>
 2011 Committee Applications
Are Open


Here's a chance to get involved in one of the GWCAR committees in 2011. 


Awards
Commercial Summit
Community Involvement
Education
Golf
Membership/Sponsorship
RealTOUR
Retail Committee
Young Professionals


To get information on these committees go to www.gwcar.org,or click here to apply now.
Deadline is November 30.

MARYLAND ELECTIONUPDATE 

GWCAR did not make any endorsements in the Maryland elections, but GCAAR, the residential association, endorsed the following candidates who won in the Montgomery County and Maryland General Assembly elections: 

County Executive - Ike Leggett - WON

Council At-large:
Nancy Floreen - WON
George Leventhal - WON
Marc Elrich - WON
Hans Riemer - WON

County Council District 1 -
Roger Berliner - WON

County Council District 2
-
Craig Rice - WON

County Council District 3
-
Phil Andrews - WON

County Council District 4 -
Nancy Navarro - WON

County Council District 5
-
Valerie Ervin - WON

 

Read More >>>


Join us for the 2010  Holiday Party, Annual Meeting, and Installation


The Greater Washington Commercial Association of REALTORS® 

 

Cordially invites you to the holiday party, annual meeting, and installation of the 2011 Officers and Directors with
 
Gary Cook
As 2011 President

Thursday, December 2, 2010
8:00 a.m.-10:00 a.m.
at
The Metropolitan Club
1700 H Street NW
Washington, DC 20006

Continental breakfast will be served.


Register today


The Metropolitan Club is made available through the courtesy of Matt Gannon.

No cell phones or personal communication devices are permitted to be used in the Clubhouse. Please observe the dress code - coat and tie for gentlemen, commensurate attire for ladies.
GWCAR BOARD OF DIRECTORS GWCAR SENIOR ADVISORY COUNCIL
President
Susan Pepper
Grubb & Ellis

President-Elect
Gary Cook
Vornado/Charles E. Smith

Immediate Past President
Christopher A. Sowick
Cassidy Turley

Treasurer
Moe Hamilton
Cushman & Wakefield

Secretary & CEO
Amy Ritsko-Warren
GWCAR

DC REGION DIRECTORS
Katie Burton, Chair
Akridge

Amy Bowser
Jones Lang LaSalle
Andrew Eichberg
Tishman Speyer Properties

Suzanne Keech
Studley, Inc.

Bruce Pascal
CB Richard Ellis, Inc.

MD REGION DIRECTORS
Ken Smondrowski, Chair
Mack-Cali

Rob Pugh
EDGE Commercial


Scott Randolph
Transwestern

Rich Rhodes
Cresa Partners

Quinn Rousaville
The JBG Companies
VA REGION DIRECTORS
Susan Sonley, Chair
Grubb & Ellis

Kay Chewning
Vornado/Charles E. Smith

David Goldstein
Jones Lang LaSalle

Frank Hyre
Boston Properties, Inc.

Chris Lucey
Cassidy Turley

PRESIDENTIAL APPOINTEES
John Asadoorian
Asadoorian Retail Solutions

Mark Sullivan
Cassidy Turley

Marty Almquist
Eric Berkman
David Bevirt
Scott Brody
Brendan Cassidy
Lou Christopher
Bill Collins
Stephen Conley
Brian Connolly
Audrey Cramer
Jim Creedon
Caulley Deringer
Dave DiNardo
Zeke Dodson
Dan Dooley
Rick Farren
Brian Fitzgerald
Scott Frankel
Tom Fulcher
Art Greenburg
Trip Howell
Scott Johnston
John Kevill
Rich Lane
Robert Liss

 

John McEvilly
Brian McVay
Philip Meany Jr.
Glenn Meltzer
Greg Meyer
Pat Nalls
Sharon Oliver
Jay Olshonsky
Douglas Olson
Nick Pappas
Bruce Pascal
Susan Pepper
Bill Prutting Jr.
Art Santry
Julie Schuelke
Robert Schwartz
Paul Schweitzer
Neil Simon
Chris Sowick
Spencer Stouffer
Susan Thomas
Philip Thomas Jr.
Bob VeShancey
Lois Zambo