New England SIOR board of directors meet September 17
The New England SIOR board of directors met at the offices of Cushman & Wakefield to plan the fall of 2009. The following board members were present: Greg Klemmer, Tom Farrelly, Mark Stevens, Jim Boudrot, Rob Nahigian, Peter Hayes and Tony McDonald. Here is the summary of this meeting.
Treasurer's Report
The Chapter is still very solid financially and has been able to attract sponsors for its events. The sponsors have benefited with access to the top office and industrial brokers in the Boston market and the Chapter members have benefited with timely news on upcoming real estate development.
National Recruitment Funds
Klemmer announced that SIOR National has a new program that allows once a year funding of $1,000 for a Chapter recruitment luncheon. The Atlantic Beer recruitment event was a good example of such an event. Considering the success in attracting potential candidates, the Chapter plans to hold more.
Admissions
The Chapter has three new brokers that are applying for Candidate status and have been accepted. Congratulations to Mike Zieja, John Dolan and Bill Lynch all of Meredith & Grew for being accepted into the Candidate Program. Klemmer congratulated each one of them in a separate email as well and plans to make a formal announcement at the Scholarship night on October 21.
Recruitment Programs
The board discussed holding a recruitment event at Christmas time or after the first of January. A Bull N' Bear event on November 19 was discussed as well for a recruitment event and to also have some of the new Candidates involved on committees.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary