| December 2011
|
3rd & 4th Qtr 2011 Edition
|
|
Letter From the President 
I would like to take this opportunity to sincerely thank each and every one of you for the honor to serve as the President of GWCAR for the past year. I am extremely grateful to have had the opportunity to work with an all-star group of my peers that make up the GWCAR Board of Directors. Looking back we should be proud that our organization hosted four of our industry's best events of the year:
- We started the year with a bang. In March we hosted the Real Estate Summit featuring Steve Roth and Sam Zell at the historic Warner Theater. The evening was insightful, entertaining and informative. This event was a lot of work that was shouldered by Amy Ritsko-Warren, Charmaine Flanagan, Bobette Banks, and their staffs - thank you ladies.
- Next in April came a sold-out Award Dinner with an all-star line up of presenters including: Brian Connolly, Doug Donatelli, Douglas Jemal, Greg Meyer, Mitchell Schear, Ray Ritchey and Joe Stettinius. A special thanks to Amy Bowser, Mark Sullivan, and their dedicated committee of over 20 volunteers that made the evening so special.
- Mother Nature did her part in May to give us a beautiful day on the golf course at Kenwood, but Ken Smondrowski and his team did the hard work - herding over 100 brokers into carts to get around 18 holes in under 5 hours!
- Finally, in October we rounded out the year with MealTOUR - which was the brainchild of your new fearless leader Moe Hamilton. MealTOUR took our traditional RealTOUR that features office space (the way most of us make our living) and added a tasting from some of the top restaurants in the area. Moe, along with David Dochter, Caitlin Slowinski, Katie Gorretta, and the entire MealTOUR committee created the best new event of the year, and we look forward to doing it again in 2012. You can see pictures from MealTOUR in this issue.
So as you can see, your organization did a lot this year through the dedicated hard work of the members and staff. I am grateful to have been a part of such a great group. GWCAR will be celebrating 30 years of serving the commercial real estate community in 2012, so stay tuned for more great things from us throughout next year.
Best wishes for a joyous holiday season and may 2012 be a year of peace and prosperity for all.
Gary Cook
2011 GWCAR President
|
|
|
2012 GWCAR Officers Installed
An elegant downtown club was again the setting for the installation of 2012 President Moe Hamilton and the GWCAR Board of Directors. Attendees enjoyed a sumptuous breakfast while they mingled with colleagues and invited guests. Guests included Maryland Association of REALTORS® CEO Mary Antoun, and Bonnie Casper (President-Elect) from the Greater Capital Area Association of REALTORS®.
Congratulations to the 2012 GWCAR Board:
President Moe Hamilton, Cushman & Wakefield
President-Elect Mark Sullivan, Cassidy Turley
Immediate Past President Gary Cook, Vornado/Charles E. Smith
Treasurer Andrew Eichberg, Tishman Speyer
DC DIRECTORS
Chair: Katie Gorretta, Akridge
Amy Bowser, Jones Lang LaSalle
Andrew Felber, CB Richard Ellis
Randy Lennon, Cushman & Wakefield
MD DIRECTORS
Chair: Kenneth Smondrowski, Mack-Cali Realty Corporation
David Dochter, Cushman & Wakefield
Mark Ezra, The Ezra Company
Mindy Saffer, West, Lane & Schlager
VA DIRECTORS
Chair: Rich Rhodes, Cresa Partners
Matthew Levin, West, Lane & Schlager
Wright Sigmund, Vornado/Charles E. Smith
Susan Sonley, Grubb & Ellis
DIRECTORS AT LARGE
Art Greenberg, Studley, Inc.
James Malloy, Jones Lang LaSalle
Jud Ryan, Cassidy Turley
PRESIDENTIAL APPOINTEES
Peter Marcin, Cushman & Wakefield
Pat Nalls, Newmark Knight Frank
CEO & Secretary Amy Ritsko-Warren
|
|
Newly-elected President Moe Hamilton with 2011 Immediate Past President
Susan Pepper
|
|
|
GWCAR CEO Amy Ritsko-Warren and Moe thank outgoing President Gary Cook
for his service
|
|
|
Moe receives welcome gift from Maryland Association of REALTORS® CEO Mary Antoun
|
|
|
Amy Ritsko-Warren with 2012 Executive Board: L-R, Gary Cook, Moe Hamilton, Mark Sullivan, and Andrew Eichberg
|
|
|
|
|
GWCAR Thanks Gary Cook
Your leadership and vision as 2011 GWCAR President has been a tremendous benefit to the commercialreal estate community.
|
|
MealTOUR - A Tasty Twist Featuring DC Commercial Properties
One Franklin Square was the site of GWCAR's first MealTOUR - a take on the traditional RealTOUR event the Association has hosted in the past. "This year we decided to put a tasty twist on our usual RealTOUR event and I think we hit a home run," said 2011 GWCAR President, Gary Cook. "We showcased some premier properties and gave our guests an opportunity to sample some great food as well." The evening was capped off by the sounds of legendary rhythm and rock blues band The Nighthawks, who had the crowd grooving to their funky blues tunes.
Many thanks to the Cushman & Wakefield team of Moe Hamilton - Chair, David Dochter- Co-Chair, and Caitlin Slowinski, who worked tirelessly to secure the restaurants and space, the MealTOUR committee, Marisa Michnick of Hines for providing One Franklin Square as the venue, and to the participating restaurants and sponsors.
Host Sponsor:
One Franklin Square (1300 K Street, NW)
Bar Sponsor:
CoStar Group
Premier Sponsors:
Cushman & Wakefield
Tishman Speyer
Hines
Band Sponsor
Washington Workplace
Elite Sponsors:
600 Thirteenth
1200 New Hampshire
1800 M Street, NW
Akridge
First Potomac Realty Trust
The JBG Companies
Quadrangle Development Corporation/The Wilkes Company
Three Constitution Square
Vornado/Charles E. Smith
General Sponsors:
ASD,Inc.
Monument Realty
Restaurants
901 Restaurant & Bar
BlackFinn American Saloon
Brasserie Beck
Hudson Restaurant & Lounge
Luke's Lobster
PS 7s
Taberna del Alabardero
Tuscana West
Gift Certificates
Againn DC & PJ Clarke's
|
|
2011 GWCAR President-Elect Moe Hamilton, Cushman & Wakefield, and 2011 GWCAR President Gary Cook, Vornado/Charles E. Smith
|
|
|
Cushman's MealTOUR superstars: Caitlin Slowinski, David Dochter & Moe Hamilton,
with Gary Cook
|
|
|
2011 MealTOUR Committee
L-R, Gary Cook, Moe Hamilton, Marisa Michnick, Susan Pepper, Andrew Eichberg, Elizabeth Miller, David Dochter, Caitlin Slowinski, Matthew Alexander, Katie Gorretta,
Christopher Sowick, Bruce Pascal, Mark Sullivan
|
|
|
L-R, Michael Sims, Advisory Real Estate Services, LLC; and Lorenzo Wooten,
Keller Williams Preferred Properties
|
|
|
L-R, Joe Coleman and Morgan Anderson, CB Richard Ellis; Alex Alperstein, CoStar Group
|
View additional pictures on Facebook
|
|
G W C A R G I V E S B A C K
Bobby Schwartz Making Lives Better Through Kidsave
 Millions of kids around the world go to bed at night without someone telling them, "good night, I love you. Today, the non-profit Kidsave is working to change that," says Cassidy Turley's Bobby Schwartz.
"I was introduced to Kidsave through a friend of mine and I was shocked to learn about the extent of the international orphan crisis and especially the problems within our own foster care system - it is truly a broken system."
Kidsave's model programs connect older kids forgotten in orphanages abroad and in the US foster care system with families who host them in their homes for weekends and school breaks, advocate for their adoption and make lasting connections. Since 1997, Kidsave has helped more than 10,000 children find parents and lasting connections. Kidsave's goal is to give one million children families and connections by 2020.
Here's an example of how Kidsave is making a difference:
Joe was in nearly 40 different foster placements. When Joe met his host Joy through Kidsave, he felt angry, alone and confused. His grades were bad and he was not going to graduate high school on time. Then, something miraculous happened. Joe slowly began to trust Joy. He realized she was not going to give up on him. After spending a lot of time building a relationship, Joe moved one more time - this time into a real, permanent home, with Joy. Joe's grades improved dramatically and he was able to graduate - on time. Today, Joe is 18 years old and attending his first semester at community college, where he is studying theatre. By making it to college, Joe has already beaten the odds.
You can help Kidsave reach this goal by supporting Kidsave events like the Annual Holiday Gala, National Marathon mini walks, or Weekend Miracles mentoring program. I hope you will join me in supporting this great cause. Learn more at www.kidsave.org
|
|
In Memoriam
Suzanne Keech
October 20, 1965 - November 7, 2011
 It is with great sadness that the GWCAR family mourns the loss of GWCAR Board Member Suzanne Keech, who passed away from cancer on November 7. A Corporate Managing Director with Studley, Suzanne was a remarkably warm and vibrant person who attacked life's trials, toils, and pleasures with a gusto and resolution that made her a beloved friend to many, a brilliant achiever in education, and a formidable talent in her profession. Suzanne graduated Phi Beta Kappa from Barnard-Columbia University, and earned an MBA from Columbia's business school.
Tom Fulcher, executive vice president of Studley where Suzanne pursued her career for the last 11 years, commented, "Suzanne was a remarkable and vibrant presence in our office and we will miss her dearly. She was an asset to Studley, her clients, and, what was very important to her, to the community."
She is survived by her parents, Mary and Mike Keech; her sister, Leslie; and brother, J.R. Keech. Visit guest book.
|
New Member Spotlight
 Caitlin Slowinski
Associate - Retail Services, Cushman & Wakefield
How long have you been in the business?
2 years as a broker.
Why did you join GWCAR?
I joined GWCAR because it's a great opportunity to interact with leading commercial real estate figures and stay involved in the industry.
What have you gotten out of the organization so far?
It's created a platform of relationship building that is crucial to new brokers. They recognize the best in the industry and it's a great way to interact with them directly.
What would you like to see the organization focusing on in the future?
I'd like to see them build up their younger memberships - it's important for people just entering the industry to be as involved as possible and this organization offers a number of ways to do that between networking events, educational seminars, and community service programs.
|
3rd Quarter Market Report
Courtesy Grubb & Ellis
 Washington, DC
The Washington, DC office market's third quarter 2011 total net absorption was negative 232,000 square feet, which, combined with vacant new construction, caused vacancy to rise by 60 basis points to 11.5 percent. This was the first time since the first quarter of 2009 that quarterly absorption was negative. However, total absorption for the year stands at positive 616,000 square feet. Read more.
Suburban Maryland
The Suburban Maryland office market posted nearly 119,000 square feet of positive absorption, and vacancy dropped by 20 basis points to 15.2 percent. Not surprisingly at this point in the recovery cycle, most of the demand occurred in Class A properties, as tenants took advantage of lower rental rates to upgrade from Class B space. Read more.
Northern Virginia
The Northern Virginia office market recorded positive absorption of 625,000 square feet in the third quarter, which led to a 30 basis point decline in vacancy to 14.3 percent. Much of the positive absorption was due to Northrop Grumman moving into nearly 330,000 square feet at 2980 Fairview Park Drive in Merrifield, as it relocated its headquarters from California. Read more.
|
 Mindy Saffer Named National Woman of the Year
GWCAR Maryland Regional Director Mindy Saffer, LEED AP, a principal with West, Lane & Schlager, was recently named the National Woman of the Year for 2011-2012 by the National Association of Professional Women (NAPW) for her outstanding achievements in the commercial real estate industry.
Fewer than 1 percent of the NAPW's 220,000 members are eligible for this award, which serves as an exclusive network for professional women to educate, empower, exchange ideas, and interact. Read more.
|
|
Virginia Networking Mixer Packs a Crowd
The lobby of the Lerner Building in Tysons provided an elegant setting for the Virginia Networking Mixer on October 12. Attendees packed the lobby to learn more about the benefits of joining GWCAR and to meet fellow industry colleagues.
|
| Mixing and mingling at the Lerner Building
|
|
| 2011 GWCAR President-Elect Moe Hamilton, GWCAR CEO Amy Ritsko-Warren, 2011 GWCAR President Gary Cook, VA Regional Director Kay Chewning
|
|
| Moe Hamilton with Marc Cummings, MEC Realty
|
|
| Mark Stranquist, AtSite; Beau Pearce, Vornado/Charles E. Smith; and GWCAR Treasurer Mark Sullivan
|
|
|
|
DC PUBLIC POLICY UPDATE
 TESTIFYING on RECORDATION TAXES
B19-371, "Recordation Tax on Refinances of Security Instruments Clarification Act"
Introduced by Evans - referred to Finance and Revenue
Councilmember Jack Evans (Ward 2) introduced legislation to address issues brought forth by attorneys Jeffrey Mitchell and James Stanton of the Oldaker Law Group. Read more.
|
|
GWCAR Announces Mentoring Program!
If you have less than 5 years in the industry, it's time to sign up for the 2012 Mentoring Program led by GWCAR member and Executive Vice President of CB Richard Ellis Bruce Pascal and other industry leaders. The Mentoring Program will include an array of classes designed to foster leadership skills. All participants will have access to a group of seasoned professionals who will share their secrets of success and help them navigate the commercial real estate industry. The cost is free to GWCAR members. Get the details and application.
|
|
GWCAR 2012 Committee Applications Still Open
GWCAR will be celebrating 30 years of bringing exceptional service and programs to the commercial real estate industry in 2012. Here's your chance to get involved by joining one of these GWCAR committees:
Awards
Commercial Summit
Community Involvement
Education
Golf
Membership
RealTOUR/MealTOUR
Young Professionals
To get information on these committees go to www.gwcar.org, or click here to apply now.
|
News from the National Association of REALTORS® (NAR)
Growth in Commercial Real Estate Markets Expected in 2012
Improving fundamentals mean a more positive trend is expected in 2012, according to NAR. Looking at commercial vacancy rates from the fourth quarter of this year to the fourth quarter of 2012, NAR forecasts vacancies to decline 0.6 percentage point in the office sector, 0.4 point in industrial real estate, 0.8 point in the retail sector, and 0.7 percentage point in the multifamily rental market. Read more.
Commercial Real Estate 2012 Issues and Actions
Three main problems continue to negatively impact commercial real estate financing: bank liquidity, an equity gap, and a contraction in small business lending.
1. Bank Liquidity
Plummeting commercial real estate values have forced many regional and community banks - a significant source for commercial real estate lending - to take steep write-downs, resulting in bank failures and a reduction in credit.
2. Equity Gap
Over half of all commercial mortgages are currently "underwater" and many lenders are now demanding that borrowers come up with additional capital to cover this gap - especially problematic when a loan needs to be refinanced.
3. Small Business Lending
Credit to the small business community has declined, leading to a decreased workforce and business failure. This has also elevated commercial vacancies, forcing prices to fall thus placing even more pressure on community banks and reducing credit - accelerating a negative economic cycle.
Take a look at the solutions NAR is developing to address these issues in 2012. Read more.
|
|
|
MARYLAND PUBLIC POLICY UPDATE
 Maryland General Assembly
The new legislative session begins January 11, 2012 and pre-filing of legislation began on November 15, 2011. For more information visit the Government Affairs news section at www.mdrealtor.org. Staff is reviewing and monitoring the recently-introduced legislation. Read more.
|
|
VIRGINIA PUBLIC POLICY UPDATE
 2011 General Election Results
General elections were held November 8, 2011, for the Virginia General Assembly. Preliminary listings for members-elect of the Virginia House of Delegates and Senate of Virginia are available. Please know that these listings reflect unofficial results. More detailed information on members of the 2012 General Assembly is forthcoming. Read more.
|
| GWCAR Unveils New Brochure
Membership has its benefits, and the new GWCAR brochure, details what you GET with a GWCAR membership. The brochure was unveiled at the Virginia networking mixer with panels highlighting the benefits of membership in GWCAR - an organization that has been serving the commercial real estate industry for almost 30 years.
|
|
Louis Christopher Recognized As 2011 NAR Commercial National Awards Recipient
Congratulations to Lou Christopher, Cushman & Wakefield, for his outstanding professional achievements in commercial real estate. Lou is featured in the Winter 2011 edition of Commercial Connections, the publication that showcases the 2011 Awards recipients. The publication is circulated to over 20,000 commercial real estate practitioners across the United States. To see Lou and the other award recipients, go here.
|
|
|
|
GWCAR BOARD OF DIRECTORS
|
|
GWCAR SENIOR ADVISORY COUNCIL
|
|
President
Gary Cook
Vornado/Charles E. Smith
President-ElectMoe Hamilton
Cushman & Wakefield
Immediate Past President
Susan Pepper
Grubb & Ellis
Treasurer
Mark Sullivan
Cassidy Turley
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
MD REGION DIRECTORS
Ken Smondrowski, Chair
Mack-Cali Realty
Corporation
David Dochter
Cushman & Wakefield
Quinn Rounsaville
The JBG Companies
Rich Rhodes
CresaPartners
Mindy Saffer
West, Lane & Schlager LLC
|
VA REGION DIRECTORS
Kay Chewning, Chair Vornado/Charles E. Smith
Henry Fonvielle
The Rappaport Companies
Chris Lucey
Cassidy Turley
David Goldstein
Jones Lang LaSalle Americas
Susan Sonley
Grubb & Ellis
PRESIDENTIAL APPOINTEES
Scott Russi
Transwestern
Pat Nalls
Newmark Knight Frank
|
Marty Almquist
Eric Berkman
David Bevirt
Scott Brody
Brendan Cassidy
Lou Christopher
Bill Collins
Stephen Conley
Brian Connolly
Gary Cook
Audrey Cramer
Jim Creedon
Caulley Deringer
Dave DiNardo
Zeke Dodson
Dan Dooley
Rick Farren
Brian Fitzgerald
Scott Frankel
Tom Fulcher
Art Greenburg
Moe Hamilton
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
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
|
|
|
|
|
|
|
|
