Q4 2018
What a Year! Reflecting on 2018... Looking to the Future An event to “Connect, Reflect While the CRE scene was and Celebrate” capped off an eventful booming, a number of legislative year for BOMA. The Annual Meeting and regulatory issues threatened our & Directors’ industry, and Election CelebraBOMA’s comtion in October mittees provided brought members strong support together for the to tackle them. new format of “We were blindnetworking and sided by the programming. introduction of “What a two proposed Year!” exclaimed commercial rent outgoing BOMA taxes in the San Francisco June election: BOMA members gather at October event. President Marc Propositions C Gille in his opening and D.” A major remarks, noting that in San Francisco mobilization occurred by BOMA the year brought a 6.3% increase in members. Although Prop. D was asking rent, 3.5 million square feet in rejected, Prop. C passed by a slim net absorption— the highest annual margin. BOMA is joining other amount in history, resulting in 4.5% business groups in a lawsuit to vacancy — the lowest in 18 years. challenge the legality of the measure. “And just like the market, BOMA Other advocacy efforts included: San Francisco continues to deliver working with the City in the crafting value to members.” of the Tall Buildings Seismic Study, (Continued on page 14)
Codes Seminar Highlights Political Challenges, Tall Buildings Safety Issues Following the recent election, commercial real estate interests will work with a majority of members of the San Francisco Board of Supervisors who may not fully understand the business community in San Francisco, attorney Manny Fishman told a packed audience at BOMA’s Annual Codes Seminar. Fishman, whose firm Buchalter focuses on commercial real estate, appealed to members of BOMA San Francisco to get involved in government affairs and to better educate supervisors about the need to keep the City an appealing place to do business. (Continued on page 12)
What’s Inside Views... n n n n
Q&A with New BOMA President • Page 2 Cyber Threats and Resiliency • Page 4 Zero Waste by 2020 • Page 7 Meet BOMA Members • Pages 8 & 9 Left: Scene from the wine tour. See more photos on page 19.