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The Commercial Real Estate Development Association

2016 NAIOP MASSACHUSETTS ANNUAL REPORT


PAST PRESIDENTS 2015 Steve Marsh 2014 Marci Loeber 2013 Tom DeSimone 2012 Paul Marcus 2011 Brian Kavoogian 2010 Sarah Abrams 2009 Kevin McCall 2008 Jonathan Davis 2007 Jay Doherty 2006 Paul Nasser 2005 Young Park 2004 Maryann Gilligan Suydam 2003 Eric Schlager 2002 Peter Barber 2001 James Karman 2000 Thomas Alperin 1999 Frank McCourt 1998 Steven Fessler 1997 Stephen Murphy 1996 Daniel DeMarco 1995 Gayle Blakeley Farris 1994 Frank Wuest 1993 Ted Tye 1992 Ogden Hunnewell 1991 Chris Maietta 1990 Michael Grill 1989 Dana Rowan 1988 David Begelfer 1987 Jonathan Kay 1986 Matt Dwyer 1985 Steve Johnson 1984 Tony Orbe 1983 Ranne Warner 1981 - 1982 Peter Forrester 1978 - 1980 William Bradshaw

A MESSAGE FROM

DENNIS CLARKE 2016 PRESIDENT

As a leading voice for the commercial real estate community, NAIOP Massachusetts represents the interests of companies that own or manage office, retail, multifamily, industrial, laboratory, mixed use, and institutional real estate in the Commonwealth, as well as the interests of all professions that serve the industry. In addition to providing outstanding education and networking opportunities for more than 1,700 members, NAIOP advances responsible commercial real estate development and advocates for policies that support the industry. Sincere thanks is owed to all of the companies and individual members who have contributed to the strength and vitality of our Chapter through their support and participation in leadership positions, committees, and other activities. Our Board of Directors, Gavel Members, Executive Committee, and event sponsors deserve special recognition and much gratitude for giving so generously of their time, expertise, and financial support throughout the year. Those of you who have yet to become actively engaged are encouraged to participate. The benefits to you, your colleagues, and your firm are sure to pay substantial dividends. It has been an honor to serve as your president this year, and I look forward to continuing to work with all of you in the coming years.

- Dennis Clarke

President and CEO, Cummings Properties

MISSION STATEMENT NAIOP Massachusetts is the leading association representing the interests of the real estate industry, including developers, owners, and other professionals engaged in real estate development, investment and ownership in the Commonwealth. Part of an international commercial real estate association, the Chapter provides its members with outstanding services that are effective, visionary and responsive to their professional needs. Core organizational values include:

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Providing visionary leadership Practicing and promoting absolute integrity and professionalism Promoting inclusivity and diversity Supporting career-long learning and networking opportunities Contributing to the economic well-being and sustainability of the Commonwealth


57

EVENTS

7,100

1,726 MEMBERS

200

active government affairs issues pursued

ATTENDEES

525

companies represented by members

187

CORPORATE MEMBER FIRMS

437

Developing Leader members

NAIOP BY THE NUMBERS

100+

leading CRE principals on Board of Directors and Gavel

23%

female members


BOARD of DIRECTORS

Brian Kavoogian Charles River Realty Investors

Young Park Berkeley Investments, Inc.

Sarah Abrams Iron Mountain

Mark DiNapoli Suffolk Construction Company

Jonathan Kay JBK Ventures

Frank Petz JLL

Susan Allen The Drew Company

Jay Doherty Cabot Cabot & Forbes

Bryan Koop Boston Properties, Inc.

Dana Rowan Exeter Companies

Luis Alvarado Newmark Grubb Knight Frank

Douglas Fainelli The Gutierrez Company

Charles Leatherbee Eric Schlager Skanska USA Commercial Development The Bulfinch Companies, Inc.

Thomas Alperin National Development

Gayle Farris GB Strategies, Inc.

Marci Loeber Griffith Properties, LLC

Sarah Shank Beacon Capital Partners

Thomas Andrews Alexandria Real Estate Equities

Steven Fessler SDF Properties LLC

Christopher Maietta Combined Properties, Inc.

Kimberly Sherman Stamler Related Beal

Kevin Benedix Boston Global

Sam Flood TIAA-CREF

Paul Marcus Marcus Partners, Inc.

Joel Sklar Samuels & Associates

Donald Briggs William Gause Federal Realty Investment Trust Leggat McCall Properties, Inc.

Steve Marsh MIT Investment Management Co.

Mark Smith Equity Office Properties

James Carlin Crosspoint Associates, Inc

David Greaney Synergy Investments

Edward Marsteiner National Development

Patrick Sousa Skanska USA Commercial Development

Sara Cassidy JP Morgan Asset Management

Abby Goldenfarb Trinity Financial

Kevin McCall Paradigm Properties, LLC

Marilyn Swartz-Lloyd MASCO

Dennis Clarke Cummings Properties, LLC

Michael Grill Fairlane Properties

William McLaughlin AvalonBay Communities, Inc.

Kirk Sykes Urban Strategy America Fund

Lawrence Curtis WinnDevelopment

Pamela Herbst AEW Capital Management LP

Peter Merrigan Taurus Investment Holdings

Ted Tye National Development

Cappy Daume The Davis Companies

Andrew Hoar CBRE / New England

Maura Moffatt Synergy Investments

Lauren Vecchione Colliers International

Jonathan Davis The Davis Companies

Michael Hogan A.D. Makepeace Company

Stephen Murphy Campanelli

Mark Weld Clarion Partners

Daniel DeMarco Campanelli

Ogden Hunnewell Nordblom Company

Paul Nasser Intercontinental Real Estate Corp.

Stephanie Williams Bozzuto Group

Thomas DeSimone WS Development

Douglass Karp New England Development

Thomas O’Brien The HYM Investment Group, LLC

Joseph Zink Atlantic Management Corp.

PRESIDENT

VP EDUCATION

PRESIDENT-ELECT

ASSISTANT VP EDUCATION

SECRETARY

VP CHARITABLE EVENTS

Dennis Clarke Cummings Properties, LLC Douglass Karp New England Development Ed Marsteiner National Development

TREASURER

Sara Cassidy JP Morgan Asset Management

VP CHAPTER AFFAIRS

Michael Wilcox The Bulfinch Companies, Inc.

SPECIAL CHAIRS - BUS TOUR Kerry Hawkins CBRE / New England Wendy Pierce Solomon McCown

Lauren O’Neil HFF Bryan Lee Transom Real Estate Deb Danik Nitsch Engineering

ASSISTANT VP CHARITABLE EVENTS Alison Powers CBRE / New England

VP GOVERNMENT AFFAIRS

Terrence McNeil Pembroke Real Estate

ASSISTANT VP GOVERNMENT AFFAIRS Greg Sampson Brown Rudnick

EXECUTIVE COMMITTEE VP PROGRAMS

VP DEVELOPING LEADERS

ASSISTANT VP PROGRAMS

ASSISTANT VP DEVELOPING LEADERS

SPECIAL CHAIRS - AWARDS

VP MARKETING AND MEMBERSHIP

Matt Devine Baynorth Capital Allen Breed MIT Investment Management Co. Ben Sayles HFF Daniel McGrath Berkeley Investments

SPECIAL CHAIRS - STRATEGIC INITIATIVES Kathy McMahon National Development

Adam Weisenberg Sullivan & Worcester LLP

Derrick Goodwin Margulies Perruzzi Architects Abby Middleton Oxford Properties Group Danielle Simbliaris Campanelli

ASSISTANT VP MARKETING AND MEMBERSHIP Alexandra Saccone National Development

SPECIAL CHAIRS - GOLF TOURNAMENT Tom Andrews Alexandria Real Estate Equities Kathy Bachman WilmerHale


ME MBE R SHI P With over 1,725 members, NAIOP Massachusetts membership is at an all-time high and remains the largest chapter in the nation. The Chapter has reached record numbers for individual, corporate, and Gavel memberships. NAIOP’s strength in recruiting and retaining members is due in large part to a very active and creative Membership and Marketing Committee, with support from the Board of Directors and staff.

MEMBERSHIP BREAKDOWN NAIOP Members by Profession:

NAIOP Members by Sector:

MEMBER ONLY EVENTS The Chapter held several member-only events this year, including:

- Break the Ice: NAIOP Member Mixer at Frost Ice Loft - New Member Connections: Benefits Over Breakfast - Two sold out Coffee with Colleagues held at Redgate and Paradigm Properties - Two Leadership Lunch + Learns that were hosted by Goodwin and Samuels & Associates - 2016 NAIOP Annual Meeting with NAIOP Board of Directors featuring James Eckenrode of Deloitte Center for Financial Services - Three Developing Leaders Executive Dinners (with Charley Leatherbee of Skanska USA Commercial Development, Dennis Clarke of Cummings Properties, as well as Leslie Cohen and Joel Sklar of Samuels & Associates), open only to Developing Leader members, where a small group shares a casual dinner with an industry leader

NAIOP RECRUITS CLUB The Chapter launched a member-get-a-member contest that encourages current members to recruit friends and colleagues to join NAIOP. By recruiting just one person to join, they become a member of the NAIOP Recruits Club and earn prizes for their recruitment efforts. The 2016 top recruiter was Wendy Pierce of Solomon McCown with a total of 10 recruits!


GOVE RNME NT AFFAI R S As the voice of the commercial real estate industry, NAIOP fights tirelessly to encourage economic growth and development in Massachusetts. If laws, policies or regulations affecting the industry are being considered, NAIOP is at the table, providing members with strong and effective representation. NAIOP works to ensure legislators and regulators understand the industry’s key issues and the government affairs team works to enact important changes. The year brought the conclusion of the 2015-2016 legislative session on Beacon Hill, the implementation of numerous regulatory reform initiatives, and a continued development boom. In 2016, NAIOP aggressively worked to shape a wide range of regulations, policies, and legislation affecting the industry. None of this work would have been possible without the support of NAIOP Gavel Members and NAIOP’s volunteer Government Affairs Committee members. The following are just some of this year’s government affairs activities: DID YOU KNOW?

ADVOCACY

NAIOP represents the interests of companies that • Removed Right of First Refusal language from Municipal Modernization legislation, which own or manage office, retail, would have given a municipality a right of first refusal if a property owned by a non-profit was sold or multifamily, industrial, developed (or if there was a change in use). The language would have chilled development laboratory, mixed-use, + opportunities at sites throughout the Commonwealth. institutional space in the • Supported two important zoning changes in the final omnibus economic development bill. The changes Commonwealth.

extended (from 6 months to 12 months) the period of time within which an applicant must begin construction following the issuance of a building permit or special permit before being subject to subsequent amendments to local ordinances. The bill also extended (from 2 years to 3 years) the life of a special permit if construction has not commenced.

• Educated lawmakers on the negative impacts of proposed zoning legislation on commercial and residential real estate development. Successfully blocked passage of legislation. • Succeeded in ensuring $45 million in funding for the depleted Brownfields Redevelopment Fund. • Increased the total number of projects allowed per community under the I-cubed program to 10 projects. • Opposed creation of Coastal A Flood Zones in draft 9th edition of building code that go beyond FEMA requirements. This will continue to be an issue in 2017. • Supported $500 million for MassWorks in economic development bill. • Led coalition to defeat wage theft legislation. The radical bill would have targeted and punished companies that had no way of knowing about any wage violations by subcontractors. • Continued to advocate for additional reforms at the MBTA through participation in the Coalition for a World Class Public Transit System. • Provided extensive input on MCP Guidance documents, which affect the cleanup of contaminated sites. Supported significant changes to the final documents.

Jeffrey Mullan (L) of Foley Hoag, and David Begelfer (R) of NAIOP with Secretary Stephanie Pollack of MassDOT.

At the Arts, Culture + Regulation on the Waterfront program.

At Governor Baker’s press conference regarding the Economic Development bill that was supported by NAIOP.


ADVA NCE + CHANG E • Represented CRE industry on DPU Interconnection Task Force, which was created to discuss the current processes used by utilities to provide new services to commercial projects. • Provided detailed input on building code changes including the draft 9th edition and changes to the 8th edition of the energy code. Defeated proposed solar rooftop readiness and electric vehicle readiness requirements in amended 8th edition. • Supported passage of Commercial PACE in Massachusetts, which creates a financing mechanism for energy efficiency improvements in commercial properties. • Blocked problematic climate change legislation which went well beyond planning and contained subjective and far reaching language that could have had extremely negative consequences on development. • Supported Climate Change Executive Order signed by Governor Baker in August. Met frequently with City of Boston on climate issues. • Supported changes to Chapter 91 Facilities of Public Accommodation regulations. The regulations, expected by end of year, will benefit development projects that have historically struggled with meeting the existing FPA requirements. • Created coalition to successfully defeat water banking legislation, an impact fee on new development. • Represented industry on a wide range of stormwater issues. • Met frequently with cabinet secretaries and commissioners to provide input on draft policies and to discuss issues of interest to the real estate industry with policymakers. • Provided detailed feedback on Draft Policy and Guidelines for Transit Oriented Development issued by MassDOT/MBTA. • Appointed to special Senate Committee on Housing and contributed to housing report issued in April. Future legislation is expected to follow next session. • Sought feedback from Gavel members on creative solutions to produce middle-income housing. Met with representatives from Baker Administration & City of Boston to discuss middle-income housing concepts and next steps.

NAIOP NATIONAL CAPITOL DOME AWARD

• Supported the creation of a new starter home program as part of Chapter 40R to encourage the production of middle income housing. The program encourages the production of densely located, smaller, single family homes, with a requirement that at least 20% of the homes in the district be affordable to and occupied by households with incomes at or below 100% of AMI.

EDUCATION: INCREASING AWARENESS Educating NAIOP members on the various government affairs issues that affect the industry is a vital part of the association’s mission. This year NAIOP continued its very popular government affairs series with the following educational programs: • Innovation and the Future of Transportation Conference - This special conference featured innovators, the Commonwealth’s Secretary of Transportation, and others on the future of transportation and its impact on economic development in Massachusetts.

At NAIOP National’s Chapter Leadership & Legislative Retreat in February, Tamara Small, Senior Vice President of Government Affairs, received the 2016 Capitol Dome Award for excellence in Government Affairs advocacy.

• Arts, Culture and Regulation on the Waterfront - Representatives from the BPDA and DEP discussed the impact of Chapter 91 on the waterfront and the latest regulatory changes. The Society of Arts & Crafts presented a case study on its experience with Chapter 91. • Government Affairs Roundup - This event featured a presentation by DHCD Undersecretary Chrystal Kornegay, as well as presentations on legislative and regulatory changes affecting the real estate industry.


CHAPTE R CONNE CT I ONS NAIOP Massachusetts constantly works to promote the image and reputation of the Chapter to the legislature, business community, press and membership through a variety of mediums.

CONNECTING THE INDUSTRY NAIOP Massachusetts works hard to keep its members, and the entire commercial real estate industry, informed, educated and connected.

• Continued to increase media and industry partnerships with Banker and Tradesman, Boston Building Wraps, Elisif Andrews Brandon Architectural Photography, The Real Reporter, High Profile Monthly and Solomon McCown.

• Enjoyed a strong presence in regional media including, The Boston Globe, Boston Herald, Boston Business Journal, New England Real Estate Journal, High Profile Monthly, Banker & Tradesman, WBZ, and The Real Reporter.

SOCIAL MEDIA INITIATIVES NAIOP Massachusetts continues to build brand awareness through social media platforms and has been exploring new outlets and ways to connect with the Commercial Real Estate Industry. • NAIOP Policy and Trends Blog 24,508 views 205 posts • LinkedIn NAIOP Massachusetts Group: 585 members NAIOP Massachusetts Company Page: 727 followers • Facebook NAIOP Massachusetts: 420 likes NAIOP Massachusetts Developing Leaders: 126 likes

• Twitter 3,452 followers • YouTube 42 videos posted 5,071 video views • Instagram 262 followers 56 posts

DID YOU KNOW? You can connect with NAIOP Members directly through the online Membership Directory.

NAIOP WOMEN’S LEADERSHIP NETWORK The Chapter launched the Women’s Leadership Network, a forum comprised of female members of the Board of Directors and Gavel representatives. The group met in May for a dinner and a tour of H.A.T.C.H. at Fenway. They also hosted an evening of networking at One Greenway for female Developing Leader members.

NEW! CREST DIVERSITY INTERNSHIP PROGRAM LAUNCHES In a focused effort to diversify the workforce in Boston’s commercial real estate industry, NAIOP formed a Leadership Diversity Committee, comprised of NAIOP Board and Gavel Members. The Committee worked with Kage Growth Strategies to pilot the CREST (Commercial Real Estate Success Training) program this summer, partnering with Dick Galvin and his team who developed the very successful CV Academy 3 years ago.

Four NAIOP member companies participated in the pilot: Berkeley Investments, Cummings Properties, The Davis Companies, and Samuels & Associates. Each organization hosted one intern for the ten week program. Interns gained valuable industry exposure, participated in professional development workshops, visited project sites, and attended the NAIOP Rock N’ Real Estate Harbor Cruise. NAIOP is expanding upon the success of the pilot and is launching the CREST program in 2017!


CHARITABL E OUT R E ACH The commercial real estate industry is known for its generosity towards civic and charitable endeavors, and in this area NAIOP Massachusetts continues to be a leader. In 2016, the Chapter maintained a strong presence in the community and actively contributed to many worthwhile charitable organizations.

COMMUNITY SUPPORT

• Hosted Community Connect along with AAREP New England, BSA, CoreNet New England, CREW Boston, SMPS Boston, SWEP and ULI Boston to benefit Cradles to Crayons. Close to 150 volunteers helped sort, organize and package donated clothing and children’s items. Their efforts benefited over 1,000 local children.

• Held several donation drives at regularly scheduled events in partnership with Building Impact, including a Toy and Gift Card Drive at the Annual Holiday Party and a school supply drive at the Rock ‘N Real Estate Harbor Cruise.

• Supported the Massachusetts Housing & Shelter Alliance’s Home for Good event honoring NAIOP Members Santander and Goulston & Storrs.

• Made donations to Somerville Homeless Coalition in honor of Federal Realty Investment Trust (2016 Distinguished Real Estate Award recipient) and Project Hope in honor of Bill McCall (2016 Edward H. Linde Public Service Award recipient) at the Annual Awards Gala.

• Supported the United Way and its 23rd Real Estate & Building Industry Leadership Breakfast honoring Steve Samuels.

• Sponsored B’nai B’rith Housing’s Distinguished Achievement Award event honoring Barry Bluestone.

• Donated to the Martin Richard Foundation for the 2nd Annual One Boston Day.

• Supported MassEcon’s Economic Impact Awards Luncheon.

• Sponsored Building Impact’s 4th Annual NonGala honoring The Bulfinch Companies, Inc.

TOTAL DONATIONS MADE TO HEADING HOME REACH $2.7 MILLION Donated $205,500 to Heading Home from proceeds of the 28th Annual NAIOP Charitable Golf Tournament, bringing the total raised to over $2.7 million. NAIOP Massachusetts continues to be Heading Home’s largest corporate contributor in its mission to end homelessness.


DID YOU KNOW? Members can post jobs for free on the job board at naiopma.org.


DID YOU KNOW? NAIOP Massachusetts University offers onsite continuing education courses.


ED UCAT I ON + E VE NTS NAIOP Massachusetts prides itself on offering timely and informative programs that provide industry professionals with the critical information they need for career development and industry success. Special thanks to the NAIOP Education Committee and Program Committee for putting together an exciting line-up of pertinent programming with high level speakers and industry experts. Programs covered a variety of topics highlighting all sectors, current development trends and important regulatory issues. All of these events and programs were made possible through the generous support of NAIOP’s sponsors. A full list of this year’s programs and event sponsors can be found on the following pages.

2016 DISTINGUISHED REAL ESTATE AWARDS GALA

SPECIAL EVENTS 2016 Distinguished Real Estate Awards Gala

Federal Realty Investment Trust was honored with the Distinguished Real Estate Award, and Bill McCall was honored with the Edward H. Linde Public Service Award. Registrations for the Gala were over 1,000, providing the most significant networking opportunity of the year.

Life on the Edge: Boston’s New Frontier Bus Tour

Over 300 attended this fast-paced, informative, live market update tour focused on the amenityrich environments along Boston’s “New Frontier” in Somerville, Watertown, Charlestown, Medford, Malden, Cambridge, and Allston, including North Station and Northpoint. Attendees were surveyed after the tour and their feedback was extremely positive.

INTRODUCING

NAIOP MASSACHUSETTS LEADERSHIP INSTITUTE This year the Chapter launched the NAIOP Massachusetts Leadership Institute to help midlevel real estate professionals develop the practical knowledge and leadership skills that are necessary to advance their careers. The Leadership Institute provides a combination of educational and experiential training, along with unique opportunities to network with industry and business leaders to improve individual, team and organizational effectiveness. Students will also gain a deeper understanding of both government affairs and corporate responsibility. Over the course of eight months (September - May) students will participate in a total of 17 hours of classroom training, lecture series led by industry and business leaders, and time on Beacon Hill. The 2016-2017 Leadership Institute class is sold out, with a total of 30 candidates participating. The kick-off celebration event featured John Fish of Suffolk Construction Company. The first two classroom training sessions have been completed and post-class surveys have been extremely positive.

NAIOP MASSACHUSETTS UNIVERSITY The Chapter continued to offer NMU programming this year. Onsite course topics included: Real Estate Capital Markets, Commercial Leasing, Construction Management, and Real Estate Finance Fundamentals. All of the courses were sold out. The NAIOP @ Noon seminars were also very well attended. Seminar topics included: Parking Down the Road, Inspired Placemaking, Rounding Out the Capital Stack, Smart Building and Industrial Demand.


LEARN + NE T WOR K NETWORKING NAIOP works hard to offer multiple ways for professionals to engage with the industry. In addition to its regular programs, the chapter also hosted several networking events. These events are very popular and are almost always sold out. • Two well-attended Coffee with Colleagues, which were open to all industry professionals, but free for members, hosted by Redgate and Paradigm Properties • Over 100 attendees enjoyed a day on the slopes for the 6th annual NAIOP Ski Day at Loon Mountain, which presented fun networking opportunities for all • Two sold-out NAIOP @ Nights were held at The Merchant and Coppersmith • The 6th Annual Rock ‘N Real Estate Harbor Cruise, the industry’s most popular summer event, was once again sold out with over 300 on board • The Student Association Membership Meet and Greet was held at Red Thread and attracted over 30 new students

DEVELOPING LEADERS The Developing Leaders (age 35 and under) is NAIOP Massachusetts’ fastest growing membership segment and continues to make a significant mark on the Chapter. The Developing Leaders Committee is comprised of 150 rising professionals, who represent all facets of the industry. Several members of the committee also held leadership roles on NAIOP’s Executive Committee. Besides presenting a full line-up of programming and networking events, the DLs also showed support for the community by providing strong representation at Community Connect, and partnering with Building Impact through drives and volunteer nights. The DL Committee continues to assist the chapter with the Student Association Membership program to develop university partnerships and introduce local real estate students to NAIOP

Developing Leaders Annual Sponsors

NAIOP is grateful for the financial support of the 2016 sponsors below, which enables Developing Leaders members to receive a significant discount on membership dues and event registrations.

New York City Overnight Trip - NEW!

In June, 30 Developing Leader members traveled to New York City to explore the city’s newest developments. While there, they visited Hightower to hear about Tech + CRE, HFF gave a presentation about NYC Investment Fundamentals, property owners and developers then toured the group around Vanke Luxury Midtown Condos, Hudson Yards, Brookfield Place, and the World Trade Center Transportation Hub. The trip was a huge success and the Developing Leaders Committe is excited to plan similar trips to other cities in the future.


2016 PROGRAMS

Hotel Hot Streak

January 21

5th Annual NAIOP Ski Day

January 29

Break the Ice NAIOP Member Mixer

February 4

Developing Leaders Executive Dinner with Samuels & Associates

June 28

Kendall Square by Foot

July 20

NAIOP @ Night at Coppersmith

July 26

Real Estate Capital Markets Onsite 6th Annual Rock ‘N Real Estate Course Harbor Cruise February 24 and March 2 Building + Furthering a Career in CRE: SAM Career Panel

February 24

Windows on the Waterfront II

NAIOP @ Noon: Parking Down the Road

February 25

Brain Train: The Red Line’s Effect + Influence on Real Estate

March 1

NAIOP Breakfast Briefing Primer on Infrastructure Programs

March 15

NAIOP @ Noon: Inspired Placemaking - The Secret to Development Success

March 23

NAIOP @ Noon: Parking Down the Road

Community Connect

March 30

Commercial Leasing Onsite Course

April 5 and 12

New Member Connections Benefits Over Breakfast

April 6

Cocktails and Conversation: Imagine Boston 2030

April 7

Transportation Trailblazers:

Leadership Institute Kick-Off with John Fish of Suffolk Construction Hot Technologies Paving the Way

August 10

Women’s Leadership Network Cocktail Party

September 13

Windows On the Waterfront II: The Next Phase of Development in the Seaport

September 15

Leadership Lunch + Learn at Goodwin

September 20

Construction Management for Developers + Owners Onsite Course

September 22 and 29

NAIOP @ Noon: Industrial Demand and the New Economy

October 6

Coffee with Colleagues Paradigm Properties

October 7

Arts, Culture + Regulation on the Waterfront

October 25

NAIOP Meet and Greet Student Association Membership

October 26

Real Estate Finance Fundamentals Onsite Course

October 28 and November 4

for Innovation

7th Annual Women of Influence Luncheon

Developing Leaders Executive Dinner with Dennis Clarke of Cummings Properties

Leadership Lunch + Learn with Samuels & Associates

April 13

April 28

Coffee with Colleagues at Redgate

May 5

November 1 November 3

Distinguished Real Estate Awards Gala

November 10

Cocktails and Conversation: Cocktails and Conversation: Wynn What’s Brewing in Boston? Casino Case Study November 12

May 11

NAIOP @ Night at Coppersmith

Life On the Edge: Boston’s New Frontier Bus Tour

May 18

28th Annual Charitable Golf Tournament

June 8

CRE Conference: Innovation. Threats. Opportunities.

November 17

Developing Leaders Executive Dinner with Charley Leatherbee of Skanska Commercial Development

November 29

Developing Leaders New York City NAIOP/SIOR Annual Market Forecast Overnight November 30

June 9 and 10

Hot Off the Hill NAIOP/SIOR Mid-Year Market Roundup Government Affairs Roundup

June 14

December 7

NAIOP @ Noon: Rounding Out the Capital Stack

NAIOP Annual Holiday Party

June 15 Leadership Lunch + Learn at Goodwin

NAIOP @ Noon: Smart Building Boot Camp

June 21

December 8

Game Changers Redefining CRE: 2016 Annual Meeting

December 13


EVENT SPONSORS Acentech Inc.

Cushman & Wakefield

KeyPoint Partners LLC

Related Beal

AHA Consulting Engineers

Cutler Associates, Inc.

KS Partners LLC

The Richmond Group

Alexandria Real Estate Equities

Dacon Corporation

Laz Parking

Riemer & Braunstein LLP

Anchor Line Partners

The Davis Companies

Lean Box

R.J. O’Connell & Associates

Arup

Dellbrook/JK Scanlan

Leggat McCall Properties LLC

Robinson+Cole

Atlantic Management Corporation

Deutsche Asset Management

Marcum LLP

Samuels & Associates

Avison Young

DLA Piper

Marcus Partners, Inc.

Sanborn, Head & Associates

Bala TMP Consulting Engineers

Dyer Brown Architects

Margulies Perruzzi Architects

Sasaki Associates, Inc.

Bank of America Merrill Lynch

Eastdil Secured, LLC

Marino

Saul Ewing LLP

Beacon Capital Partners LLC

Eastern Bank

Massachusetts Port Authority

Sherin and Lodgen LLP

Bergmeyer Associates, Inc.

Elkus Manfredi Architects

MassDevelopment

Skanska USA Commercial

BioMed Realty Trust, Inc.

Equity Office

Maugel Architects, Inc.

Blue Hills Bank

Faithful + Gould, Inc.

McCall & Almy, Inc.

Stack + Co.

Bohler Engineering, P.C.

Federal Realty Investment Trust

McNamara Salvia, Inc.

Stantec

Boston Properties, Inc.

Foley Hoag LLP

McPhail Associates, Inc.

Stateside Construction Group

Brookline Bank

Development Inc.

Gensler

Mintz Levin

Street-Works

The Bulfinch Companies, Inc.

Goodwin Procter

MIT Investment Management Co.

STV | DPM

Burns & Levinson

Goulston & Storrs

Morgan, Lewis & Bockius LLP

Suffolk Construction Company

Callahan Construction Managers

Greenberg Traurig LLP

NAI Hunneman

Sullivan & Worcester LLP

Cambridge Savings Bank

Griffith Properties LLC

National Development

Supreme Industrial Products

Campanelli

Group One Partners, Inc.

Newmark Grubb Knight Frank

Synergy Investments

Capital One Bank

Haley & Aldrich, Inc.

Nitsch Engineering

Taurus Investment Holdings

CBRE | New England

HFF

Nordblom Company

Tetra Tech

CBT Architects, Inc.

Hightower Inc.

Norel Service Company, Inc.

Timberline Construction Corp.

Century Bank

Hinckley Allen

Northern Bank & Trust Company

Tishman Speyer

Chapman Construction/Design

Hines

Nutter McClennen & Fish, LLP

Transwestern | RBJ

Cherrytree Group

J. Calnan & Associates

Paradigm Properties, LLC

VHB

Citizens Commercial Banking

Jacobs

Perkins + Will

WilmerHale

Clarion Partners

Janitronics Building Services

Posternak Blankstein & Lund

WS Development LLC

Colliers International

WSP | Parsons Brinckerhoff

JLL

PROCON, Inc.

Control Point Partners

Jumbo Capital Management, LLC

Rackemann, Sawyer & Brewster

Copley Wolff Design Group, Inc.

Keller Augusta Partners

Radius Bank

Cresa Boston

Kevin P. Martin & Associates

Red Thread

Cummings Properties, LLC

Key Bank, N.A.

Redgate

DID YOU KNOW? NAIOP advocates on hundreds of bills before the Legislature affecting CRE.


CORPORATE MEMBERS A.D. Makepeace Company ADD Inc, now with Stantec AEW Capital Management, L.P. Alexandria Real Estate Equities, Inc. Apartment Realty Advisors Arrowstreet, Inc. Atlantic Management Corporation AvalonBay Communities, Inc. Avison Young Bank of America Merrill Lynch Beacon Capital Partners LLC Benchmark Senior Living Bergmeyer Associates, Inc. Berkeley Investments, Inc. Berkeley Management, Inc. Beveridge & Diamond, P.C. Bingham McCutchen LLP BioMed Realty Trust, Inc. Boston Global Investors Boston Properties, Inc. Boston Realty Advisors Bowditch & Dewey, LLP Bozzuto Group Brookline Bank Brookwood Financial Partners L.P. Brown Rudnick LLP BSC Group, Inc. The Bulfinch Companies, Inc. Burns & Levinson LLP Cabot Cabot & Forbes Calare Properties, Inc. Cambridge Savings Bank Campanelli CBRE/New England CBRE Investors CBRE | Grossman Retail Advisors CBT Architects, Inc. Charles River Realty Investors, LLC Choate, Hall & Stewart LLP Citizens CommercialBanking Clarion Partners The Collaborative Companies Colliers International Commodore Builders CommonWealth REIT Cranshaw Construction Crosspoint Associates, Inc. Cummings Properties, LLC Cushman & Wakefield of MA Dain, Torpy, LeRay, Wiest & Garner, P.C. Daniel O’Connell’s Sons, Inc. The Davis Companies Davis, Malm, D’Agostine, P.C. Demoulas Supermarkets, Inc. D.F. Pray, Inc. DiMella Shaffer Associates, Inc. Divco West DLA Piper Doerr Associates The Drew Company The DSF Group DTZ

Duffy Properties LLC Dyer Brown Architects Eastdil Secured, LLC Eastern Bank EBI Consulting Elkus Manfredi Architects Ltd Epsilon Associates, Inc. Equity Industrial Partners Corp. Equity Office Eversource Federal Realty Investment Trust Fidelity Real Estate Company, LLC Fidelity Real Estate Group Foley Hoag LLP Forest City | Boston Gensler Gilbane Building Company Gilbane Development Company Goodwin Procter LLP Goulston & Storrs Greenberg Traurig LLP Griffith Properties, LLC The Gutierrez Company GZA GeoEnvironmental, Inc. Haley & Aldrich, Inc. HFF Hinckley Allen Hines Howard/Stein-Hudson Associates, Inc. Holland & Knight LLP Hunneman Capital Group Intercontinental Real Estate Corporation Jacobs J. Derenzo Company Janitronics Building Services JLL K & L Gates Keller Augusta Partners KeyPoint Partners, LLC KS Partners LLC Leggat McCall Properties LLC Lincoln Property Company Locke Lord LLP Marcus Partners, Inc. Marcum LLP MassDevelopment McCall & Almy, Inc. McCarter & English, LLP Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C. MIT Investment Management Company ML Strategies LLC NAI Hunneman Commercial NAI Hunneman Management & Development Co. National Development NB Development Group Neoscape New Boston Development Partners New Boston Fund, Inc. New Boston Management Services, Inc. New England Development Newmark Grubb Knight Frank Nitsch Engineering Nixon Peabody LLP Nordblom Company Nordblom Management Company

Northland Investment Corporation Northmarq Capital LLC Nutter, McClennen & Fish, LLP O’Connell Development Group Inc. Oxford Properties Group Paradigm Properties, LLC Pembroke Real Estate Pierce Atwood LLP Prince Lobel Tye LLP Prologis Rackemann, Sawyer & Brewster Rackemann Strategic Consulting, Inc. R. G. Vanderweil Engineers, LLP R.J. Kelly Companies R.J. O’Connell & Associates, Inc. Redgate Red Thread Related Beal Retail Management & Development Riemer & Braunstein LLP The RMR Group Robinson & Cole LLP Rockland Trust Ropes & Gray LLP Rubin and Rudman LLP Samuels & Associates Sanborn, Head & Associates, Inc. Sasaki Associates, Inc. Seyfarth Shaw LLP Shawmut Design & Construction Sherin and Lodgen LLP Sierra Architects Skanska USA Commercial Development Inc. Solomon McCown & Company Sovereign Santander Structure Tone, Inc. Suffolk Construction Company, Inc. Sullivan & Worcester LLP Symmes, Maini & McKee Associates Synergy Investmens Taurus Investment Holdings Taurus Management Services, LLC TD Bank Tetra Tech TIAA-CREF Tighe & Bond Tishman Speyer Properties Transwestern | RBJ Trinity Financial, Inc. Tsoi/Kobus & Associates, Inc. Turner Construction Company VHB The Wilder Companies WilmerHale Wingate Management WinnDevelopment Woodard & Curran, Inc WS Development


GAVEL MEMBERS None of NAIOP’s important advocacy would be possible without the support of the Gavel members, a select group of principals from the area’s leading real estate companies and those associate firms that service the industry. The Chapter is grateful for their support. It is their contributions of both time and money which have made it possible for NAIOP to be a leader in government affairs advocacy for the commercial real estate industry. The Chapter has a total of 96 Gavel Members, a complete list is below.

GOLD GAVEL MEMBERS A.D. Makepeace Company AEW Capital Management, L.P. Alexandria Real Estate Equities, Inc. Atlantic Management Corporation AvalonBay Communities, Inc. A.W. Perry, Inc. Beacon Capital Partners LLC Berkeley Investments, Inc. Benchmark Senior Living BioMed Realty Trust, Inc. Boston Global Investors Boston Properties, Inc. Boylston Properties The Bozzuto Group The Bulfinch Companies, Inc. Cabot Cabot & Forbes

Campanelli Charles River Realty Investors, LLC Clarion Partners Cottonwood Management Crosspoint Associates, Inc. Cummings Properties, LLC CV Properties The Davis Companies Divco West The Drew Company Equity Industrial Partners Corp. Federal Realty Investment Trust Fidelity Real Estate Company, LLC Forest City | Boston Griffith Properties LLC The Gutierrez Company

Hines Hobbs Brook Management LLC The HYM Investment Group, LLC John M. Corcoran & Company JP Morgan Asset Management Leggat McCall Properties LLC Madison Properties Marcus Partners, Inc. MassDevelopment MIT Investment Management Company National Development New England Development Nordblom Company Normandy Real Estate Partners Paradigm Properties, LLC Patriot Place

Prologis Redgate Related Beal Retail Management and Development R.J. Kelly Companies R.W. Holmes Realty Co. Inc. Samuels & Associates Skanska USA Commercial Development Synergy Investments TA Associates Realty Taurus Investment Holdings TIAA-CREF Tishman Speyer Properties Trinity Financial, Inc. WinnDevelopment WS Development

SILVER GAVEL MEMBERS Arrowstreet, Inc. Bank of America Merrill Lynch Beveridge & Diamond, P.C. Brown Rudnick Burns & Levinson LLP CBRE/New England CBIZ Tofias Citizens Commercial Banking Colliers International Consigli Construction Co. Inc. DLA Piper

Eastdil Secured Elkus Manfredi Architects Ltd. Foley Hoag LLP Goodwin Procter LLP Goulston & Storrs Greenberg Traurig LLP HFF JLL Key Bank, N.A. Locke Lord LLP Marcum LLP

Suffolk Construction Company, Inc. Margulies Perruzzi Architects Mintz, Levin, Cohn, Ferris, Glovsky and Popeo Sullivan & Worcester LLP New England Economic Development Corp.Tarlow, Breed, Hart & Rodgers, P.C. TD Bank Newmark Grubb Knight Frank Timberline Construction Company Nitsch Engineering Transwestern | RBJ Nutter, McClennen & Fish, LLP VHB Perkins + Will WilmerHale Robinson + Cole LLP Rubin and Rudman LLP Sasaki Associates, Inc. Sherin and Lodgen LLP

DID YOU KNOW? NAIOP Board of Directors + Gavel Members represent over 80 of the leading CRE development, investment and professional organizations.


COMMITTEES Participating on one of NAIOP Massachusetts’ volunteer committees is an exclusive benefit of membership. Volunteers develop lasting relationships with key business leaders, stay abreast of the latest industry developments, and help shape the agenda of the state’s leading commercial real estate organization.

MEMBERSHIP AND MARKETING

CHARITABLE EVENTS

PROGRAM

BUS TOUR

This committee offers direct contact with the top decision makers in the Massachusetts real estate community, and is a terrific networking opportunity. Develop strategic marketing campaigns to promote membership, sponsorship, event attendance and other initiatives. Vice President - Danielle Simbliaris, Campanelli Assistant Vice President - Alexandra Saccone, National Development

Take an active role in demonstrating NAIOP’s commitment to the community. Help coordinate and implement charitable activities for the Chapter, including the Annual Golf Tournament, Community Connect and several donation drives that allow NAIOP to continue its tradition of supporting local charities. Vice President - Deb Danik, Nitsch Engineering Assistant Vice President - Alison Powers, CBRE / New England

Continue building NAIOP’s proud history of providing cutting-edge and relevant programs tailored specifically for Boston’s real estate professionals. Use creative thinking and contacts to ensure members are challenged and inspired by a wide-range of NAIOP programs. Vice President - Matt Devine, Baynorth Capital Assistant Vice President - Allen Breed, MIT Investment Management Co.

The NAIOP Bus Tour is a nationally attended event that provides the real estate community with a unique opportunity to learn about the latest deals and view the latest developments in the area. Help design the tour and all its associated events and publications. Co-Chair - Kerry Hawkins, CBRE / New England Co-Chair - Wendy Pierce, Solomon McCown

EDUCATION

DEVELOPING LEADERS

Knowledge is necessary - especially in the constantly changing world of commercial real estate. Help facilitate NAIOP Massachusetts University (NMU) - a vision incorporating the overarching idea of a recurrent focus on continuing education through relevent online and onsite courses, hot topic conferences, and timely workshops. Vice President - Lauren O’Neil, HFF Assistant Vice President - Bryan Lee, Transom Real Estate

Young professionals age 35 or younger can join peers on this fun and friendly committee that plans a variety of educational, networking, and social events tailored to the unique needs and interests of younger professionals. This is an excellent way to get involved in NAIOP and to prepare for other leadership roles, all while building a network! Vice President - Derrick Goodwin, Margulies Perruzzi Architects Assistant Vice President - Abby Middleton, Oxford Properties Group

SPECIAL EVENTS

Members of NAIOP’s Government Affairs Committees actively shape laws and policies affecting the commercial real estate industry. The Chapter maintains three Government Affairs Committees: Environmental, Energy & Infrastructure, and Hazardous Waste (21E). Vice President - Terrence McNeil, Pembroke Real Estate Assistant Vice President - Greg Sampson, Brown Rudnick

Help plan and implement NAIOP’s special events including the signature annual Distinguished Real Estate Awards Gala, which publicly recognizes a deserving company for its significant contributions to the commercial real estate industry and is a top priority for the chapter. Vice President - Ben Sayles, HFF Assistant Vice President - Dan McGrath, Berkeley Investments

GOVERNMENT AFFAIRS


NAIOP STAFF

David Begelfer

Reesa Fischer

Tamara Small

Rachel Meyer

Debbie Osheroff

Taylor Pederson

Chief Executive Officer (781) 453-6900 x1 begelfer@naiopma.org

NAIOP Massachusetts 144 Gould Street Suite 140 Needham, MA 02494

(781) 453-6900 phone (781) 292-1089 fax

Senior Vice President, Government Affairs (781) 453-6900 x5 small@naiopma.org

Chief Operating Officer (781) 453-6900 x2 fischer@naiopma.org

Director of Marketing and Communications (781) 453-6900 x6 meyer@naiopma.org

www.naiopma.org Director of Membership and Administration (781) 453-6900 x3 osheroff@naiopma.org

CONNECT WITH NAIOP MASSACHUSETTS ON:

@naiopma naiopmablog.org www.naiopma.org

Program Manager (781) 453-6900 x7 pederson@naiopma.org


144 Gould Street, Suite 140 | Needham, MA 02494 (T) 781-453-6900 (F) 781-292-1089 www.naiopma.org


2016 NAIOP Annual Report