You know that “Christmas Letter” that people send to their friends and families, recounting family adventures and triumphs of the last 12 months? Well, because we are a family, here is my CoreNet Christmas Letter to you!
In the spirit of brevity, I’ll focus on our CoreNet family adventures in the last few months. The thank-you list for the November Corporate Real Estate Executive dinner is long: Nancy Morse and LindaMarie Santiago, Ken Miles and the Holland-Parlette (HPA) team, plus Dan Williams from PianoFight Productions, to name a few. Of course, Jim Morgensen and Steve Hargis were worthy honorees. The result of all the hard work was the largest event the Chapter has ever staged, with more than 670 attendees, a 20% increase from 2015. I’m not sure how to explain the almost 50% increase in wine consumption over the year before…
The Programs Committee wanted to make the December Chapter meeting an event that reflected the more relaxed spirit of the holidays. We hosted Cheryl Strayed, author of the hugely popular best-seller “Wild” at the Wilsey Center in San Francisco. “Wild” was the appropriate description of our Bay Area weather that night, but those who braved the elements were treated to a very unique program evoking an emotional response to Cheryl’s encouraging all of us to live a life of determination and perseverance. Her message, “The right way to do it… is to do it!
No Christmas Letter would be complete without a look to the future, so a quick mention of the January 19th meeting at Electronic Arts in Redwood City. This is the annual economic outlook meeting featuring Ken Rosen, chairman of Rosen Consulting Group. Ken has joined our January meeting for several years to present his view of the economic outlook. Ken looks locally, nationally and globally with insights that are generally colored by political realities. The United States presidential inauguration takes place January 20th, so I’m sure Ken will have some fascinating predictions.
It’s December, which means you may have received a renewal notification from Global. The chapter receives around $100 of your renewal fee BUT there’s a catch: for our Chapter to participate in this bounty, your renewal must be received by Global no later than March 31st 2017. Many of you are currently working on our company’s fiscal plan, so please don’t forget your CoreNet membership, and please be mindful of the March deadline as we want the Chapter to receive the maximum benefit. Our current renewal rate is 35%, so we have lots of upside opportunity.
Special thanks to Ted Klaassen, Shannon Knuth, Erin Carew and the entire Communications Committee team for their efforts in pushing out to members interesting and relevant content (including this newsletter), managing the Chapter’s social media presence, and overseeing and updating the website. I hope everyone enjoys the enhanced communications.
On behalf of the entire leadership team, we wish you Happy Holidays and a prosperous New Year. Thanks to all our members, our amazing sponsors, and the HPA team for your strong participation and support in 2016.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2015 revenues of $10.9 billion. More than 70,000 professionals (in over 480 offices, in 68 countries) provide exceptional outcomes for clients in 60+ countries by combining local market insight, broad services, specialized expertise and premier tools and resources.
CBRE has been included in the Fortune 500 since 2008, ranking #259 in 2016, and was named the 15th Best Employer in America by Forbes earlier this year. It also has been voted the industry’s top brand by the Lipsey Company for 15 consecutive years, and has been named one of Fortune’s “Most Admired Companies” in the real estate sector for four years in a row. Its shares trade on the New York Stock Exchange under the symbol “CBG.”
The Company serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
Please take a look at an interesting new white paper from CBRE on How Millennials Live, Work and Play
Much has been written about the millennial generation—where they live, how they work and how they spend their money—but what’s fact and what’s fiction?
As millennials become a larger segment of the workforce, grow in affluence and start forming their own families, the myths about their generation begin to peel away. What are their true preferences and how are their choices impacting residential, office and retail real estate globally? To help answer these questions, CBRE conducted one of the most extensive and detailed global studies of how this generation chooses to live, work and play:
19th Annual CoreNet NorCal Corporate Real Estate Awards
Our 19th Annual CRE awards dinner was held at the Westin St. Francis on November 17. With more than 670 attendees, the CRE awards have become big news, and this year, The Registry wrote articles on each of our two honorees, Steve Hargis of Woods Bagot, and Jim Morgensen, of LinkedIn.
The Steve Hargis article can be found here:
The Jim Morgensen article can be found here:
In case you missed the party, or you just want to re-live a great night, you can find photos and videos here:
CAP Host Companies Needed
Our renowned CoreNet Apprentice Program (CAP) is set to have another great year in 2017. We have a long list of interested apprentices but could use a few more host companies. This is a mutually beneficial endeavor that rewards both the apprentices and the host companies. If you would like to host a CAP student, please see the flyer attached HERE, or get in contact with Brian Thomas (firstname.lastname@example.org) or Robert Teed (email@example.com), our CoreNet NorCal CAP co-chairs. If you would like to read about the benefits of the CAP program from both the student and host perspective, please see the Q&As below.
Q&A - CAP Student Valeria Beljaeva
Valeria Beljaeva is currently pursuing her bachelor of business administration degree with a concentration in Finance at Hult International Business School in San Francisco. She will be graduating at the end of April 2017. Originally from Russia, Beljaeva was born in Kyrgyzstan, grew up in Belgium and speaks Russian, Dutch and English. She spent a year studying in London, before relocating to San Francisco. This summer, she interned at Gensler as part of the CoreNet Apprenticeship Program and shared a few of her observations regarding her experience:
1. What was the greatest value for you in participating in the CAP program?
Not only did I get to work with one of the biggest architecture/design firms, I also learned a great deal about the different sides of and paths in real estate. The CoreNet events are very valuable because they allow students to get personal and first-hand insights from people in the industry.
2. What was the biggest learning experience of your internship?
During my internship I had the opportunity to rotate between three departments; firm-wide finance, the global department and administration. It was really interesting to see how everything comes together and the importance of every single department. Apart from these, I would say that my biggest learning experience was being able to learn how global accounts are set up and managed.
3. How did the experience match with your expectations? Meet, exceed?
Gensler is a great company, and the people were amazing. They treated me more like a full-fledged employee than an intern, more like a true team member. They handed me so much responsibility and exposed me to so many more opportunities than I expected. So, all in all, my experience with Gensler was extremely enriching!
4. What would you tell your fellow students considering becoming a CAP intern?
I think it is a great program! It is really important to gain as much experience as possible, and the program gives students exactly that. I have learned so much in my degree program. However, I learned so much more while actually doing the work on the job. The CoreNet Apprenticeship Program gives students a great deal of exposure to the industry and facilitates the opportunity to use your education in the 'real' world.
5. Did the fact that you have international experience and speak several languages come in handy?
Knowing cultural differences does really come in handy when dealing with global projects. Speaking a different language did give me an advantage when I was doing research for a project in the Netherlands, since some information was only available in Dutch.
6. Additional comments?
I would really like to thank everyone that made this happen.
Q&A CAP Sponsor, Vishal Shah of CBRE/Yahoo
Vishal Shah is a Global Finance Director for CBRE on the Yahoo account. Through the 2016 CoreNet Apprentice Program, Yahoo hosted Eli Kiani, an undergraduate majoring in Economics at the University of California, Berkeley. Shah provided a few thoughts on his experience having a CAP student on his team.
1. What was your overall experience like hiring a CAP intern?
2. What type of work did you have your intern perform?
Eli worked on few different projects while he was with us for 10 short weeks. I wish it could have been longer. During his time, he worked on following projects:
• Portfolio Optimization Report – Reported and analyzed the OPEX and occupancy Efficiency of all buildings globally in the portfolio and made optimization recommendations.
• Energy/Utility Projects - Analyzed savings generated by solar panels and other sources that Yahoo has invested in mainly in Sunnyvale.
• Accounting/Finance ME close process – Partnered with the finance team to facilitate ME close process. Worked cross functionally with facilities manager and FCs to gather necessary information.
3. How productive what your intern? Did they meet or exceed your expectations?
Eli was extremely productive and welcoming to the entire team. He exceeded our expectations.
4. What was the greatest value to you in the sponsoring experience?
Eli brought new perspective to things with his innovative ideas.
5. What would you tell your peers considering hiring a CAP student?
Go for it! It's not only good for the employee pipeline, but it will surely bring fresh new ideas to the company. They are also good at questioning process and can often see a better way of doing things. I will be hiring an intern again next year!
CoreNet Northern California “Day on the Bay” Event Back by Popular Demand and More Spectacular than Ever!
By Erin Carew, Instigate
CoreNet Northern California hosted its Day on the Bay event in celebration of Fleet Week in San Francisco on October 7th aboard the California Hornblower, one of the largest luxury yachts on the West Coast. CoreNet member Ed Shea, a U.S. Merchant Marine officer, captained the 183-foot vessel taking almost 400 CoreNet members and guests for a breath-taking spin around the Bay and got the group in position to watch the amazing airshow featuring the Blue Angels. Shea, who is the West Coast director for Currie & Brown, spends much of his free time out on the water and has served as relief captain on the California Hornblower since 1996.
This year’s weather cooperated beautifully, featuring crystal clear blue skies and temps in the low 80s. The crowd soaked in the sun while dining on delicious food, sipping beverages and, of course, enjoying one of the best networking experiences of the year. After cruising around the Bay and out past “The Gate” Captain Shea secured the perfect vantage point just in time for the Blue Angels to do a thunderous fly-by to start their awe-inspiring show.
The Chapter thanks and congratulates the Special Events committee chaired by Aimee Hallgrimson of XL Construction and Tyler Kellogg of Cushman and Wakefield, who took the lead on planning the event. Additional thanks go to volunteers Jadie Fanganello of Woods Bagot, Jean Chene of Service Master, and Kristi Pearch-Percy of Cuschieri Horton Architects as well as to Ed’s wife, Betty Shea, with Events with a View, who managed the event with the Hornblower.
Finally, the Chapter would also like to express its gratitude to the Sponsors whose generosity and commitment to CoreNet made the extraordinary event possible including:
Master Sponsors: Haworth, AlfaTech and XL Construction
Table Sponsors: SC Builders, Arup, DPR Construction, InsideSource, Paradigm Tax Group, Teknion, Baker’s Floor and Surface, Shaw Contract Group, DES Architects + Engineers, NOVO Construction, BCCI Construction Company, Allied Universal, Cushman & Wakefield, AP+I Design, CBRE, Turner and Two.
Bar Sponsor: Enterprise Florida.
View more photos of the event here!
Young Leaders Update
The Corenet Young Leaders group was fortunate enough to recently tour the new San Francisco HQ space for Dropbox. Post tour, the group was treated to an insightful panel discussion that included a variety of project stakeholders who helped the HQ come alive, including insights from: Theo Skinner (Dropbox), Kyle Brown (Kilroy Realty), Jonathan Haugh (CRE Group) and August Petersen (Rapt Studios). Keep an eye out for more great events like this in 2017!
Request for New CoreNet NorCal Committee Members
Get more involved in CoreNet NorCal! One of the best ways to increase your involvement and really get to know other members of CoreNet NorCal is by joining a committee. The CoreNet committees create and organize the events, meetings, programs and publications that you enjoy. Committees you can join are: Young Leaders, Special Events, Programs, Membership, Community Reinvestment, Communications, and Technology. All of our committees are looking for volunteers. If you are interested in joining a committee, please contact our Administrative Director, Michelle Lagos, at firstname.lastname@example.org or (415) 720-0366, and she will connect you with a committee.
January Chapter Meeting: Annual Market Forecast with Ken Rosen
Thursday, January 19th 3:30PM-7:00PM | Electronic Arts, Redwood City
Join us for our Annual Market Forecast event with Ken Rosen, Chairman of
Rosen Consulting Group and of the FisherCenter for Real Estate and
Urban Economics, which will be moderated this year by Matt Werner,
President, Enterprise Facilities Management at CBRE. With real estate
and stock market dynamics at record levels the economy appears to be set
for continued growth. Many analysts and market participants are still
digesting the aftermath of the recent election so with a new US
President to be sworn in the following day, this promises to be a
special meeting. We'll discuss forecasts, risks, structural and policy
issues to watch for that may be the catalyst for challenges and
opportunities in the future of our economy.
Learn more and register here!
Young Leaders Holiday Party
Thursday, January 12th 5:00PM-7:00PM | Golden Gate Tap Room, San Francisco
Join CoreNet Young Leaders as we raise a
glass to toast the extending the holiday celebration and the ringing in
the New Year! Enjoy the Warriors and College Football Bowl season in San
Francisco’s premier sports bar with a selection of over 100 beers on
tap. All CoreNet Young Leaders members (ages 35 and under) are invited
to attend. We’ll gather at Golden Gate Tap Room for an evening of
networking, drinks, and small bites. This is a members only event.
Cost - $15
Please pre-register as the venue has a strict reservation policy!
Learn more and register here.
Northern California Holiday Party
Learn more and register here!
Save the Date! Women of CoreNet present Mentors
Wednesday, March 1st 3:30PM-7:00PM | NetApp, Sunnyvale
As they wrap up WOC 'Year to be Inspired', WOC final program of the year will be focused on Mentors scheduled for March 1st at NetApp. Life Coach/Counselor Dr. Marj Barlow will be the primary speaker. WOC will also feature narratives from local WOC members and their mentors as part of this program.