2017 - November 2017 Newsletter

In This Issue                     

President's Message
Featured Sponsor
Past Events Highlights
Committee Updates
Upcoming Events

 

                                 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                             

President's Message:

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As your president, I am so proud of the community we have created within our dynamic Chapter. We have attracted a diverse membership base comprised of people from all over the world who are at various stages in their careers and play a wide range of interesting and important roles within some of the world’s most prominent companies. Together, we have forged a fellowship of professionals sharing common attitudes, interests and goals.  My pride is deepened by the fact that members share generously with each other, that we have created a culture that welcomes new members warmly, and that we offer something for everyone with our diverse array of special interest groups such as the Women of CoreNet and the Young Leaders.


Recently, we have seen unthinkable devastation wrought upon communities within California,  in the U.S. and around the globe by wildfires, hurricanes, earthquakes, as well as the tragedy in Las Vegas.  I have been moved by the countless stories of caring people jumping in without hesitation to help.  Those indelible images of brave women and men risking their own safety to rescue and support the most vulnerable illustrate the power of community and reinforce our human bonds. The affected communities have along way to go to heal; however, ultimately they will indeed persevere.  

As I processed these events, I immediately felt a strong sense of gratitude to be part of our exceptional CoreNet community.  It has been built through the contributions of our amazing volunteers, who help build our community by getting involved.  While I hope that events such as these never happen in our area, I can’t help but believe that we, as a Chapter, would rise to such a challenge.  For many, the Chapter represents one of the most effective ways to extend their professional lives into the meaningful human bonds that result in a strong community.  As Chapter leaders, we are as committed as ever to creating opportunities to further strengthen the bonds between us.

In addition to highlighting the value of strong communities, these destructive natural disasters also underscored the importance of leveraging communications tools to keep communities informed and engage. For example, it was fascinating to see the role that social media played in distributing critical information to citizens during these emergencies. Twitter played an essential role in executing the emergency preparedness plans of many government agencies and disaster relief organizations.

Naturally, hearing these stories further solidified my commitment to our goal of raising the bar on our chapter communications.  Thanks to the hard work of our Communications Committee, we will launch our new chapter website soon and we are implementing a well-crafted social media strategy, which is already resulting in expanding our follower base, driving member engagement and increasing awareness of CoreNet Northern California on Twitter and LinkedIn.

Additionally, we are focused on increasing membership overall and have a special emphasis on growing our end-user base to ensure a healthy balance within our community going forward.  I am thrilled to announce the recent appointment of our fantastic new Membership Committee co-chairs who are leading this new initiative, Pierce Neinken, global portfolio manager at Airbnb and Cyndi Innecken, global accounts executive at Haworth. We are so lucky to have them as part of the chapter leadership.

Finally, I would like to encourage all of you to strengthen your connections to our outstanding community. We invite you to join a committee, invite your friends and colleagues to an upcoming event or simply reach out to CoreNet members you do not know and introduce yourself.  We are all so fortunate to be connected with each other, and I am so honored to be your leader as we work to strengthen the bonds of our community even further.

Jay

Featured Platinum Sponsor

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A leader in the real estate outsourcing field, JLL’s Corporate Solutions business helps corporations improve productivity in the cost, efficiency and performance of their national, regional or global real estate portfolios. JLL creates outsourcing partnerships to manage and execute a range of real estate services including property and corporate facility management services, transaction services, project and development management, and corporate real estate strategic consulting. This service delivery capability helps corporations improve business performance, particularly as companies turn to the outsourcing of their real estate activity as a way to manage expenses and enhance profitability.

JLL is a leader in diversity with six D&I-driven employee resource groups including our Women’s Business Network (WBN).  The goal of WBN is to “empower a culture of gender partnership to attract, develop and retain the best women in the marketplace,” which has provided tremendous advantages for JLL in recruiting, retention and brand value. Over the last few years, the Northwest WBN chapter has hosted more than a dozen events with upwards of 130 JLL and 50 client-based colleagues participating from across the region.  Nationally, we have been recognized two years in a row as one of the “NAFE Top Companies for Executive Women” (the only real estate firm honored this year).

http://www.us.jll.com/united-states/en-us/news/4445/jll-named-a-top-company-for-executive-women-for-second-straight-year

Featured Platinum Sponsor

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HGA has recently completed the 60,000 square-foot Visa office space in Palo Alto, California. Palo Alto’s tree lined streets and surrounding native tree population drove the design theme for Visa’s new office. HGA thoughtfully placed elements of wood and materials to emanate the ambiance of the theme in an understated and indirect way. HGA was challenged to creatively approach concerns around acoustics, technology infrastructure and security of the space. The result is a workplace that Visa is both proud of and very excited about.

HGA has recently completed the 60,000 square-foot Visa office space in Palo Alto, California. Palo Alto’s tree lined streets and surrounding native tree population drove the design theme for Visa’s new office. HGA thoughtfully placed elements of wood and materials to emanate the ambiance of the theme in an understated and indirect way. HGA was challenged to creatively approach concerns around acoustics, technology infrastructure and security of the space. The result is a workplace that Visa is both proud of and very excited about.


http://inside.hga.com/visa-palo-alto  

CoreNet NorCal Podcasts

The CoreNet Northern California Chapter is pleased to bring you the latest in our series of podcasts: Tips for Success from Two Accomplished Young Leaders. This edition features two exceptional young corporate real estate professionals, Michelle Lagos, member of the Client Solutions team at CBRE and Maja Henderson, former director of global facilities at Square, who is now a consultant.  Both have been recognized within the industry for contributing at impressively high levels relatively early in their careers and for taking their respective worlds by storm.  

Podcast host, Melissa Pesci, principal at HGA Architects and Engineers and member of the Chapter Leadership Council interviewed these two dynamic young leaders and asked them to share some of the secrets of their success.  The resulting conversation is chalk full of inspiring insights from their paths and also offers a unique look at some of today’s most pressing issues through the lens of young professionals.

http://nocal.corenetglobal.org/communityresources/new-item

July Chapter Meeting Recap
The chapter hosted a fascinating look at how new technologies are reshaping the real estate landscape called “Reimagining the Built World.”  The program featured renown venture capitalist, Brad Greiwe, a partner at Fifth Wall who gave a thought-provoking presentation about technologies currently disrupting the industry.  He gave an overview of his firm’s portfolio and then led a lively discussion with the audience. The event, which was part three in the three-part series “Technologies Changing Corporate Real Estate,” was held at Netapp in Sunnyvale and attracted a crowd of more than 150 members and guests.

Griewe graciously agreed to share his slides with the membership.  Please see the link below for his presentation in its entirety. Here is a brief summary his key points:

Background on Fifth Wall

  • Raised $240 million
  • Investors = largest real estate owners and operators
    • CBRE
    • Prologis
    • Equity Residential
    • Lennar
    • Macerich
    • Host Hotels and Resorts
    • Hines
  • Investing in tech investors plan to adopt and partner with
    • Mitigates distribution challenges
Built World Opportunity

  • Real Estate Tech = Rare “White Space” in VC Ecosystem
    • Sector-focused funds rapidly emerging
    • No such funds in real estate tech
  • Scale of Opportunity 
    • $267B aggregate value created in real estate tech companies
  • Real estate is one of the fasted growing verticals in tech
    • $7.2 billion in global real estate tech investment in last five years
    • 2nd largest unicorn category with aggregated enterprise value of $64B
    • Including:
      • Airing – $31B
      • Wework - $20B
      • TenX - $1.2B
      • Opendoor (Fifth Wall portfolio co) - $1.05B
  • Drivers of Tech’s Dramatic Growth
    • Enormous addressable market
    • Increased institutionalization
    • Changing of the guard
    • New asset classes and threats
    • Bifurcation of services from assets

Fifth Wall’s Investment Portfolio

  • VTS – Leading cloud-based leasing and portfolio management platform with $300 million valuation
  • B – Software powered retail showroom – consumers can access next gen hardware, IoT and other tech products with $35 million valuation
  • States Title – Data driven approach to underwriting title insurance with $25 million valuation
  • Notarize – First on-demand remote electronic notary service with $47 million valuation
  • Classpass – marketplace for fitness classes with $470 million valuation
  • Clutter – On-demand storage service with asset-light logistics model with $240 million valuation
  • Opendoor – Tech-enabled residential real estate company with $1.05 billion valuation
  • Wheelhouse – Distributed hospital brand in the short term rental space with $45 million valuation
Here is a link to Greiwe’s full slides:

CoreNet Apprentice Program Update

The CoreNet Apprentice Program (CAP) just completed another successful summer internship season!  The CAP committee paired five talented undergraduates from University of California -- Berkeley with five impressive companies based on their skills and interests and the sponsors unique needs. The group recently held their capstone event, and the students rocked it!

The chapter extends special thanks to all the sponsors as well as the CAP committee who contributed their time and energy to create enriching experiences for our amazing students. We will be following up with these bright young stars and reporting to you on their career progress in upcoming newsletters.

Here is a list of the CAP interns and their sponsors:

Wilton Qiu interned with Robert Teed at ServiceNow
(Wilton will continue working at ServiceNow part time until he graduates next Spring when he will become a full time employee!)

Gabriel Grossman interned with Jeff Gagnon at Cresa

Tyler Zhou interned with David Nelson, Jessica Hanks and Jeanne Ho at Wells Fargo

Luis Valadez interned with Barry Toner and Vishal Shah at CBRE

Cassandra Clay interned with Don Davis at VISA

Congratulations to all!

Young Leaders Update

Corenet Norcal’s Young Leaders had a successful kickoff to the mentorship program at Juniper Networks. We had a record number of participants and look forward to a great program!  In our mid-year event, mentors and protégés will meet again to get and give feedback on the program.


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Upcoming Chapter Events

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November Chapter Meeting: Real Estate on Demand
The emergence of co-working 'fourth places' and 'office market networks'; are they making the CRE industry more efficient?

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Thursday, November 16 
| 4:00 pm - 7:00 pm
WeWork: 2 Embarcadero Center, San Francisco, CA 94111 


According to a recent HOK study, global commercial space utilization rates are at 50% or less. This inefficient use of assets combined with advancing technology has driven a new wave of companies to redefine how the industry services commercial real estate needs for everyone from solopreneurs through to SME's and large corporations. This discussion will explore how a seismic shift in technology, along with people's evolving expectations around business priorities and their working environment are creating the ideal environment for services like LiquidSpace and WeWork to innovate ways to utilize office space more effectively for the end user. Our panel will provide insight from these new service providers and corporate end users, it will be moderated by workplace thought leader Kay Sargent from HOK.

Panelists:
  • Dan Harvey, Vice Chairman, CBRE
  • Elton Kwok, GM, WeWork
  • Eric Zellhart, Sr. Product Manager, LiquidSpace
  • Moderator: Kay Sargent, Senior Principal, HOK
  • More panelists will be announced soon!
Cost: 
  • Member Price: $35.00
  • Non-Member End User: $60.00
  • Non-Member Service Provider: $85.00

Register Now!

Sponsor the 20th Annual Northern California CRE Awards Gala Afterparty!

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The 20th Annual CRE Awards Gala is one of CoreNet NorCal's premier events with more than 600 attendees. This formal evening begins with with a reception, plated dinner and awards ceremony followed by an unmatched celebratory afterparty complete with live music, dancing, dessert and six bars!  
  
By sponsoring the CRE Awards Gala Afterparty, you can 
  • Build your brand awareness through branded signage throughout the venue, online and on stage
  • Grow your business by building relationships with potential customers
  • Connect with decision-makers before projects begin in 2018
  • Network with your current customers to stay top of mind 
CoreNet NorCal connects you with end-users who are looking for your product and/or service. Sponsor the CRE Awards Gala Afterparty to secure a strong closing to 2017 and launch into 2018 ahead of budget.

Get recognized. Grow your business.

20th Annual CRE Awards Gala 
Friday, December 1  |  Westin St. Francis Hotel  |  San Francisco
The CRE Awards Gala is almost sold out! Only a few individual tickets remain!
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Young Leaders Holiday Party! 
Wednesday, December 6  |  Local Edition  |  San Francisco

Join CoreNet Young Leaders for our Holiday Party for drinks and appetizers at Local Edition to celebrate a great year and spread holiday cheer with our amazing network. All CoreNet Young Leaders members (ages 35 and under) are invited to attend. Space is limited so register as soon as possible. Look forward to a casual and entertaining evening to kick off the holiday party season with your peers enjoying holiday drinks and light bites in one of San Francisco most popular and coolest “speakeasy” bars – underground!

Register Now!