Outstanding Buildings’ Teams Recognized for Excellence Commercial real estate movers and shakers donned their party attire to pay tribute to winners of the TOBYs and other awards at the 2016 BOMA Bay Area Annual Awards Gala. Held at the elegant ballroom at Marines’ Memorial Club on February 11, this was the second year that BOMA San Francisco and BOMA Oakland/East Bay joined together to recognize prestigious BOMA member buildings and reward building excellence. After winning a TOBY (“The Outstanding Building of the Year” Award), buildings move on to the Pacific Southwest Region to compete against other Best Office Building buildings for the honor of moving on Over 1 million square feet One Market Plaza to international competition. San Francisco “We were delighted with the increased Paramount Group, Inc. number of buildings that entered the com(owned & managed) petition and were impressed with their creativity in making their properties truly outstanding,” said Karen Cowan, who led the organization of the awards competition. San Francisco’s One Market Plaza, which is owned and managed by Paramount Group, Inc., earned the TOBY in the category for buildings of more than one million square feet. “One Market Plaza’s unparalleled amenities include a newly renovated state-of-the-art lobby, atrium, food hall and 42,000 square feet of retail space,” said Christine Mann, General Asset Manager at Paramount Group, Inc. Cushman & WakefieldBest Office Building managed 201 Spear took 250,000-499,000 square feet home the TOBY for the 201 Spear St. • San Francisco best office building in KBS Realty Advisors (owner) Cushman & Wakefield (manager)
(Continued on page 8)
What’s Inside Views... n n n n
BOMA Goes to Capitol Hill • Page 2 Meet BOMA Members • Pages 4 & 5 Members on the Move • Page 6 CREATE Gala • Page 15
On the Carpet at Awards Gala... Page 10
2 On Capitol Hill with BOMA With John Combs BOMA San Francisco President At the end of your career, what do you think you will look back upon and remember? A promotion, an award, an experience, a big bonus, your team, your client? Sometimes when it is happening you know and realize it. Other times you don’t. Just like with children, I look back and know of some of the times we knew were going to be a memory, and other times my adult children bring up an event I have no recall of happening. On February 3, I knew I was having a career memory and appreciated every moment of it. I went to the BOMA Winter Business Meeting and lobbied on Capitol Hill with fellow BOMA members from California. In particular, we had a 30-minute sit-down with Senator Dianne Feinstein to discuss three topics important to our members and the commercial property industry. Our issues included: 1) a request to reduce the depreciation schedule for the installation of new fire sprinkler systems; 2) support for new legislation to protect the real estate industry from “drive by ADA lawsuits,” requiring a compliance opportunity before one could bring a private, civil action under ADA; and 3) a request to modify existing tax incentives for energy efficiency before the 12-31-16 deduction expires. Specifically we want to increase the amount of the maximum deduction from $1.80 psf to $3 psf for whole building efficiency improvements, and from $.60 psf to $1 psf for any single system upgrade. The current legislation requires a 50% reduction in annual energy cost to obtain the tax credit, but because California buildings have already implemented so many energy conservation strategies and are far more efficient than other buildings across the country, we are recommending a sliding scale so that there is credit for partial reductions and not the current cliff of nothing unless 50% is achieved. BOMA had some amazing and long-sought accomplishments in 2015, with the extension of the energy tax credit and making permanent the 15-year leasehold depreciation rule. I have always appreciated BOMA and its leaders for lobbying on behalf of our industry, but never considered becoming a part of this until I became the BOMA San Francisco President. I am so glad I participated. To go and visit our elected officials in their offices, tour the Capitol and meet face-to-face with our elected officials and learn the challenges they face in getting things achieved was fascinating. If you have not previously participated in BOMA’s advocacy efforts, (Continued on page 16)
Thanks to Our 2016 Corporate Sponsors* Platinum Sponsor
Gold Sponsors ABM NRG Energy Center San Francisco Pacific Gas and Electric Company ProTech Security Services, Inc. Recology Golden Gate San Francisco Electrical Contractors Assn., Inc. Universal Protection Service Silver Sponsors Alliance Roofing Company, Inc. CBRE Hines Hudson Pacific Properties Kilroy Realty Corporation Marble West Metro Electric. Paramount Group, Inc. Unique Elevator Interiors, Inc. Vornado Bronze Sponsors AT&T Boston Properties Deutsche Asset & Wealth Management Georgia-Pacific, LLC GSH GROUP Hathaway Dinwiddie Construction Co. Impark JLL McMillan Electric Co. RiverRock Real Estate Group Securitas Security Services USA, Inc. Shorenstein Realty Services, L.P. The Swig Company, LLC Friends of BOMA Bauer’s Intelligent Transportation CB2 Builders Cole Supply Co., Inc. CTC-California Technical Contracting, Inc. Cushman & Wakefield D Zelinsky & Sons, Inc. (an FDT Company) GCI General Contractors Perfection Services R.N. Field Construction, Inc. Rossi Builders, Inc. Swinerton Builders The Lawson Roofing Co. Inc. Transwestern Wilson Meany Young Electric + Communications *For sponsorship opportunities, please contact Tory Brubaker at toryb@BOMA.com
Future Proof Your Cell Coverage as Mobile Usage in Buildings Soars
Rely on DAS Services from Young Wireless Solutions Group • Cell coverage is more important than ever as mobile device usage soars and workers multitask with multiple devices. • DAS (distributed antenna systems) solutions provide relief from saturated cell towers and prevent lapses in cell coverage. • The Young Wireless Solutions Group brings expertise to DAS projects and turnkey services from design/engineering to installation and project management. • Iconic projects include: 555 California, Levi’s Stadium, 77 Beale, 595 Market, San Francisco International Airport, Kaiser Permanente, One Market and many more. To learn how DAS can improve your property’s cell coverage, contact Len Beatie at 415.230.8619 or firstname.lastname@example.org
Shown from top: 555 California Street, San Francisco; 77 Beale Street, San Francisco and Levi’s Stadium, Santa Clara. Photos by Nick Elias.
4 Principal Member Profile
Marc Gille, Director of Asset Management Embarcadero Capital Partners
As Director of Asset Management for Embarcadero Capital Partners, Marc Gille manages the company’s San Francisco and Seattle property portfolio. Embarcadero Capital Partners is a real estate investment and management firm based on the Peninsula. The firm invests in dynamic development-constrained U.S. markets that are known for intellectual capital and a creative business culture. “I work with the property managers, construction managers and leasing teams to execute on the business plan,” he says. Gille hails from a BOMA and CRE family, with both parents in the industry. “Our family vacations usually were centered around where the BOMA conventions were going to occur.” After earning degrees in forestry and horticulture, he spent five years in commercial landscaping and was a certified arborist focusing on urban areas. Marc Gille enjoys quality family time. However, he says that the CRE bug never left him. Subsequent career moves included stints at PM Realty Group/Alameda Point and CAC Real Estate. While at CAC he worked at 650 California Street—“which was like a homecoming since my dad managed the building during the 80’s,” One Sansome Street and the Beacon Capital portfolio until it was sold to Broadway Partners in 2007. Gille stayed with Broadway until all the assets were sold or in a JV (with one of them being jv’d to Embarcadero) and then joined Embarcadero Capital Partners. Gille is bringing his expertise to his role on the BOMA San Francisco board. He is the newly elected treasurer of BOMA San Francisco. During his down time, Gille stays active with his family — “three great kids, a wonderful wife and a new dog.” Cycling and barbecuing are favorite activities.
Award-Winning Services for Interior and Capital Improvement Projects Jeff Hutson 925.674.8850 email@example.com www.richlen.com
Construction Clean-Up Pressure Washing High-Rise Window Washing
Associate Member Profile Kyle Peacock, President/CEO, Peacock Construction Construction inside high-end, occupied commercial and healthcare facilities is the specialty of Peacock Construction, which frequently works with BOMA member buildings that are “best in class with stringent operating requirements,” observes President/ CEO Kyle Peacock. “We pride ourselves on working with the building teams and tenants to meet their construction needs within those requirements.” Peacock Construction is currently undertaking a variety of projects, including replacing diesel fire pumps at 3 and 4 Embarcadero Center, while maintaining Peacock and his wife in Switzerland. building operations. Another project is a lobby remodel and canopy installation at 33 New Montgomery, combined with an eight-corridor remodel in the upper floors. The firm is also working on a multi-floor, multi-phase refresh of the Federal Home Loan Bank’s headquarters. Despite this booming time in construction, Peacock finds time to give back to BOMA. He recently put together a career workshop for young professionals. “I started my career with Boston Properties, running construction at its San Franciscoregion properties. Currently, we own a few buildings in Arizona and Colorado and have construction needs there,” he said. “The workshop was structured around managing tenant improvement construction as a landlord representative, so I drew from those experiences as well as my general contracting experience. The workshop focused on building a great team and the process. The main takeaway: Construction can be rewarding and a lot of fun with a great team, proper planning and follow-through.” His advice for young professionals in BOMA: “Attend as many workshops as you can, but more importantly, join a committee. Through its committees, BOMA has built an incredible structure for its members to positively affect their industry. The relationships you forge working on a committee will stay with you your entire career.” During his leisure time, Peacock enjoys hiking with his dog, hunting, snowboarding and traveling with his wife, Suzie.
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Members on the Move Joel Hirigoyen joined JLL Consulting in its San Francisco office as Vice President and Associate Director in the People and Process Group. His primary areas of focus are advising CRE teams on organizational optimization, benchmarking and risk management initiatives. Prior to joining JLL Consulting, he was a Regional Area Manager with JLL Corporate Solutions on the Wells Fargo Account.
As a newly appointed PG&E Account Manager, Neema Yazdi works with a team of energy professionals, serving as the PG&E liaison for a number of large commercial accounts in San Francisco. He helps others understand various energyefficiency incentive programs, rate structures, service planning processes and safety-related topics. He is a graduate of San Jose State University, a BPI/LEED accredited professional and is working towards his Certified Energy Manger (CEM certification).
Send your personnel changes for Members on the Move to Tory Brubaker at toryb@BOMA.com.
One Market Plaza Shines at TOBYs Paramount Group, Inc. is thrilled to add One Market Plaza to our growing list of TOBY award winners. The recognition as the best office building in the over 1 million square feet category confirms our long-standing strategy to focus on the best markets, own the best assets, provide superior tenant service and hire and retain the best people. Please join Paramount Group in congratulating the One Market Plaza management team on their outstanding achievement and continued success!
8 TOBY Awards (Continued from front page)
the 250,000-499,000 square-foot category. And Harsch Investment Properties’ team at the art deco-style 450 Sutter building won a TOBY for best medical office building for the second year in a row. In the Suburban Office Park, Low-Rise category, Stoneridge Corporate Plaza in Pleasanton was honored. The property is managed by Next Play Consulting. The TOBY for Renovated Building excellence went to the Kilroy Realty Corporation-owned and managed 360 Third Street property in San Francisco’s SOMA district. And in The City’s Jackson Square area, One Jackson Place at 633 Battery Street garnered a TOBY in the Historical Building category. The building is managed by Brannan Management Company. TOBY winners showed creativity with community outreach, as well as strong emergency preparedness programs. Technology was at the forefront, enabling buildings to deliver a high level of services to tenants and owners. The Outstanding Building of the Year “TOBY” Awards were developed in 1985 by BOMA International to honor and recognize the quality in office building operations and award excellence in buildings management. The TOBY mission is: “recognizing operational efficiency, tenant retention, emergency planning and commitBest Medical Office Building • 450 Sutter tee impact.” St. • San Francisco Also honored at the Awards Gala were: Harsch Investment RPA designees, BOMA 360 performance Properties program buildings, Innovative EARTH (owned & managed) Award Winners, and the outstanding members of the year for BOMA San Francisco and BOMA Oakland/East Bay and engineer of the year (see page 10).
Best Suburban Office Park • Stoneridge Corporate Plaza • Pleasanton NPC Holdings (owner) Next Play Consulting (manager)
Best Historical Building • One Jackson Place • San Francisco One Jackson Place Associates (owner) Brannan Management Company (manager)
Best Renovated Building • 360 Third St. • San Francisco Kilroy Realty Corp. (owned & managed)
A special thanks to our Premier Spotlight Sponsors, Able Services and R.N. Field Construction, and other sponsors listed on page 11.
9 In the TOBY Winnersâ€™ Circle Kudos to the Winning Building Teams!
One Market Plaza/Paramount Group, Inc. team
201 Spear Street/Cushman & Wakefield team
360 Third Street /Kilroy Realty Corporation team One Jackson Place/Brannan Management Co. team
450 Sutter/Harsch Investment Properties team Photo credit: Olivia Smartt Photography
Stoneridge Corporate Plaza/Next Play Consulting team
10 Scenes from the 2nd Annual Awards Gala
Clockwise from top left: Bob Briones, Susan McKeon and Jeff Palmer, Able Services. John Combs, BOMA SF President and Anne Sparks, BOMA OEB President. Michael Oddo, Michaela Morgan, and Larry Garibaldi, Metro Services Group; and Lynn Linhares, CBRE. Stefanie Medious, Mina Tao, Mark Arsenault and Mark Malatesta, Recology. Ballroom set-up. Photo credit: Olivia Smartt Photography
360 THIRD 2015 TOBY AWARD WINNER
Congratulations to the 360 Third Street team for their outstanding work and innovation. The building serves as a testament to Kilroyâ€™s commitment to providing exceptional environments for the modern workforce.
Clockwise from top left: Alicia Tobias and Diane Stanton, CBRE; Emily So, R.N. Field Construction and Colleen Henriksen, M. Moser. Kurt Westendorf, Wilson Meany; Lisa Tanner, Gap, Inc.; Diana Barnard and Paul Richards, Wilson Meany.
Congratulations BOMA Oakland/Eastbay & BOMA San Francisco TOBY winners!
TOBY Award Winner BOMA Bay Area
Medical Office Building 450 Sutter Serving San Francisco and the Medical Community since 1929
Congratulations Engineer of the Year Tim Danz of 345 California!
HARSCH INVESTMENT PROPERTIES
HARSCH INVESTMENT PROPERTIES W W W . H A R S C H . C O M
Thank You to Our Gala Sponsors
BOMA San Francisco Members of the Year Congratulations to:
Premier Spotlight Sponsors
2015 Principal Member of the Year Blake Peterson, MBA, RPA, LEED AP Cushman & Wakefield 2015 Associate Member of the Year Andrew Junius, Esq., Reuben, Junius & Rose, LLP
Grand Entrance Sponsors Cushman & Wakefield • Kilroy Realty Walk of Fame Sponsors Ace Parking • Baker’s Floor & Surface • CBRE • Gachina Landscape Management • Marble West • Matrix HG • Restoration Management • RiverRock Real Estate Group Choice Award Sponsors Impark • Kastle Systems • Metro Services • The Shooter Co. • Skyline Construction • Universal Protection Service • Waxie Sanitary Supply Floral Sponsor Gachina Landscape Management
2015 Engineer of the Year Tim Danz, Cushman & Wakefield Blake Peterson
Anne Sparks and Tim Danz
12 Share the Clean Energy Experience NRG Energy Center San Francisco delivers environmentally sound, energy-efficient heating to downtown buildings. The benefits include: Environmentally safer buildings with no on-site fuels or chemicals Lower operating costs with no capital expense for NOx boiler retrofits Reliable 24-hour staffing by district energy professionals
To partner with us, contact our local Energy Center at 415.644.9666.
Your commercial IPM/green/LEED specialists
Count on Crane for Pest Management Expertise Serving commercial property managers throughout the Greater Bay Area...since 1930 NPMA GreenPro Certified
BOMA San Francisco Upcoming Events Membership Luncheons March 24 July 28 September 15
October 27 November 17
General Membership Networking Events April 20 – BOMA at the BALLPARK May 19 – Second Annual CREATE Gala September 19 – Annual Elmer Johnson Golf Tournament December 1 – Holiday Party
415-922-1666 • 800-592-7777
Visit www.bomasf.org for a complete listing of events.
From bridges to buildings and everything in between
www.NCCRC.org Facebook.com/NCCRC Twitter.com/NCCRC
Each year, BOMA International offers the most accurate and comprehensive benchmarking resources for both the office and industrial sectors — the Office Experience Exchange Report (Office EER) and the Industrial Experience Exchange Report (Industrial EER). But before BOMA can provide these critical resources to the industry, we need you to share your data by March 31. Market fundamentals are continuing to strengthen, and competition in both the office sector and the fast-growing industrial sector are heating up. The benchmarking data in this year’s report will be vital for successfully navigating new market realities. That’s why your participation in the 2016 EER surveys is so important. Help BOMA continue its legacy of benchmarking excellence—and use the detailed income and expense data collected to position your property or portfolio for success when the reports are launched in June. To learn more, visit https://eer.boma.org
Help Students Launch Their Commercial Real Estate Careers... Hire a Summer Intern “What strikes me about the students is that they are mature, dedicated, take initiative and arrive ready to work” — Jeff Eichenfield, The Presidio Trust “We have hosted summer interns during the past two years, and our company hired our interns in both instances. Awesome!” — Marsha Ramsey, Cushman & Wakefield Supported by CREATE – Commercial Real Estate Alliance for Tomorrow’s Employees, an alliance of:
Employers interested in offering internships, please email firstname.lastname@example.org or call 415.362.2662 x117.
15 Show Your Support for CRE Education at CREATE Gala Join Us in Honoring Commercial Real Estate Visionary John Kilroy The current and growing talent CREATE (Commercial Real drought threatens the long-term Estate Alliance for Tomorrow’s viability of commercial real estate. Employees) is a collaboration of How can you help expand and BOMA San Francisco, BOMA strengthen the CRE workforce? Oakland/East Bay, IREM San Join us on May 19 at the Francisco Bay Area Chapter and elegant Bently Reserve for the NAIOP San Francisco Bay Area. second annual CREATE Gala, Funds raised at the event which will honor CRE visionary will support San Francisco State John Kilroy, President, Chairman University’s Commercial Real of the Board and CEO of Kilroy Estate Certificate program, which is Realty Corporation. preparing a “job ready” talent pool In addition to event attendance, for our industry. there are sponsorship opportuni“Combining classroom ties that give your firm visibility instruction with job shadowing, and benefits. Webcor Builders is mentoring and internships is a Kilroy will be honored at the CREATE gala. the event’s Signature Sponsor, and cornerstone of the program,” notes sponsorships at other levels are still available. Contact Marc Intermaggio, BOMA San Francisco Executive Tory Brubaker at email@example.com to learn more. Vice President.
Save the Date! 2nd Annual Commercial Real Estate Alliance Gala Thursday, May 19 • 5 – 7:30 PM Bently Reserve, San Francisco
Signature Sponsor Sponsorship opportunities available. Contact firstname.lastname@example.org
The Commercial Real Estate Alliance for Tomorrow’s Employees (CREATE) supports our industry’s growing employment needs. We provide college level instruction to train and attract “job ready” candidates who are prepared to make a difference. We mentor and offer internships. Participating employers can save money on talent recruitment, and improve the quality and engagement of new hires.
Supported by CREATE – Commercial Real Estate Alliance for Tomorrow’s Employees, an alliance of:
16 Reach Your Targets with BOMA Views BOMA Views offers a unique opportunity for you to reach decision-makers who buy or influence purchases of products and services like yours. There are two ways you can tell your story to this targeted audience. A display ad showcases the benefits of your products or services. In addition, you may demonstrate the value you deliver through a sponsored report. Presented in an article format, these are very persuasive. And you can use them in your own marketing and promotion—both print and online. Telling prospects how your company’s services or products benefit them— using statistics, photos, graphics, charts and testimonials—is an effective way to increase sales. BOMA Views is mailed to BOMA members and distributed at events. In addition, the digital version is emailed to members and is displayed on the BOMA website (current and past issues). As you plan your marketing for 2016, consider advertising in BOMA Views. To learn more, contact Ellen Eason at 415.596.9466 or email@example.com
President’s Message (Continued from page 2)
I strongly encourage you to get involved. Any BOMA member can become a part of this. You don’t have to be an officer or a board member.
Cleaveland, Marc Intermaggio or John Bozeman how best to engage.
During our Washington, D.C. meetings, I was so proud to be a part of You can start by our group. Everyone sitting in on a meeting we met with either of our Government knew BOMA, knew Affairs Policy Analysis some of our members, Committee, which hears or was aware of BOMA’s from policymakers and lobbying efforts. We addresses local issues. could not have had a You can participate in stronger presence in BOMA California’s these relationships BOMA San Francisco and Orange County members and staff met with June legislative thanks to Marc, Ken, Leader Nancy Pelosi's staff in the Rayburn Room of the U.S. Capitol during the BOMA National Issues Conference Capitol Hill Day. meetings in Sacramento. John and Tory. They have You can plug into BOMA worked hard to fulfill the International’s federal lobbying efforts. And, by all Advocacy tenet of BOMA San Francisco’s mission, which means, you can support our local, our state, and our delivers VALUE to members and their owners, each and national Political Action Committees. Just ask Ken every day.
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The Last Word (Continued from back page)
$72 billion in new personal earnings; and added $228 billion to the national economy? Besides the value we create for owners and operators via our legislative and regulatory advocacy, we bring value to citizens residing within the communities in which we operate, as detailed in my Fall 2015 column. BOMA has been actively engaging constituencies throughout the City with our support for a variety of programs that help children and families in San Francisco. At the building level, we deliver ROI via many programs allowing you to benchmark and recalibrate your operating practices so you can reduce costs. These range from things like our local 100-point sustainable operations checklist to the Experience Exchange Report—BOMA International’s operating income and expense benchmarking tool; from the BOMA 360 Performance Program to properly measuring your space using BOMA International’s American National
Standards Institute (ANSI) approved standard. Then of course, at the personal level, BOMA’s education and networking opportunities yield incredible dividends. BOMA supports career advancement by connecting you with professionals who willingly share their problem-solving knowledge and support each other’s professional growth. And, our education programs—both for “newbies” and those for industry veterans (learning never stops)—will keep you abreast of changing industry practices, technological developments, government regulations, and economic influences. To get the most from your membership, please enroll in a class or seminar, build your professional network via participation in our social events or BOMA committee work, and ask us how you can support our advocacy work. BOMA is enriched by a high level of member engagement, and YOU will personally benefit by becoming more involved!
Marc Intermaggio, CAE, is the Executive Vice President of BOMA San Francisco.
19 Mixing & Mingling Scenes from the Annual Holiday Party at the Julia Morgan Ballroom. BOMA members generously donated toys for the SFFD Toy Program.
Associates Committee and BOMA staff: Tory Brubaker, BOMA; Derek Schulze, Able Services; Jacki Nolen, Pyro-Comm Systems, Inc.; Kim Tamayo, Pyro-Comm Systems, Inc.; Tiffany McLaughlin, Waxie Sanitary Supply; Rennie Ediger, Perfection Sweeping Co.; Liz Thomas, Universal Protection Service; Marc Intermaggio, BOMA; and Mark Kelly, Able Services.
Top photo: Aaron Killen, John Hancock Real Estate; Michaela Morgan, Metro Services; and Michelle Funkhouser, Hines. Middle photo: Julia Grinberg, PG&E; and Chris Baker, Bakerâ€™s Floor & Surfaces. Rick Buziak, Kilroy Realty; Michael Freeman, McCarthy Cook; and J. Timothy Falvey, Hanford Freund & Company.
About BOMA VIEWS Brooke Barnecut, Whitney Jorgensen, Dan Babcock, Laura Pasquini and Megan Pusateri, Kilroy Realty.
Published quarterly by BOMA SF Associate Publisher: Tory Brubaker Editor: Henry Eason Ad and Art Director: Ellen Eason Eason Communications LLC Contact Ellen Eason at 415.596.9466 or email@example.com
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for a long while); extending tax deductions for energy efficiency improvements; extending the Terrorism Risk Insurance Act; and passage of the “Tenant Star” program that will create benchmarking for energy use in leased spaces. To ensure we continue to achieve similar outcomes, we encourage you to write a personal check to BOMA International’s political action committee, “BOMAPAC.” A well-funded national PAC is essential to ensure our voice is heard and responded to! Another way to gage the impact of our members is to measure our industry’s economic contributions. According to “Where America Goes to Work: The Contribution of Office Building Operations Office Building Operations’ Economic Impact to the Economy,” in San Francisco alone, our industry provides $4.5 billion in value to our state’s economy. Moreover, within the eight marketplaces where BOMA is active in California, our industry creates in excess of $25 billion in economic value for the state. And did you know that nationally, from just the 93 local markets where BOMA is active, we support 46.6 million office jobs contributing $4.93 trillion to U.S. GDP; generate nearly
The Last Word: Marc Intermaggio BOMA Creates Lasting Value for Our Industry, Individual Members and Our Communities In his column on page 2 in this newsletter, BOMA San Francisco President John Combs relates his observations during BOMA’s Winter Business Meeting in Washington, D.C. He highlights specific legislative goals we pursued with elected officials, which, if adopted, will deliver cost savings to commercial building owners and operators. These are in addition to a number of recent federal legislative victories for BOMA, including making permanent the 15-year depreciation schedule for leasehold improvements (which stood at 39 years
(Continued on page 18)