NAIOPWA has been involved with the state legislative process for more than four decades. It’s with this depth of experience that we report both that the 2021 session was one of the more challenging for our industry in recent years, and how we managed to come out with three significant wins this year.

During the session, dozens of bills were introduced that, if passed, would have had a devastating impact on the commercial real estate development community. While in the end, some of these were favorably amended and several others failed, many of the same issues are expected to return in 2022.

Did you notice that we skipped a week of reporting? Greg Hanon was busily attending sessions, advocating for legislation that supports the CRE industry. One example: this week, an amendment was added to the proposed capital gains tax that exempts real estate. The session is scheduled to end on Sunday, April 26. Click here to continue reading this post (login required). 

NAIOPWA's state lobbyist, Greg Hanon, sends weekly reports for NAIOPWA members during the legislative session. These include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update. Member login is required to view the full update.

The state legislative session heads into the home stretch this week, with just 33 days left in session, a Friday deadline for bill reporting and a draft budget expected from the senate this week. Click here to continue reading this post (login required).

NAIOPWA's state lobbyist, Greg Hanon, sends weekly reports for NAIOPWA members during the legislative session. These include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update. Member login is required to view the full update. 

NAIOPWA’s Sustainable Development Committee held its fourth annual Change Makers event on June 27, 2019. The event brings together voices from a diverse group of local change-making organizations making social, environmental, and economic impacts, and establishing Seattle as a leader in sustainable development and beyond. The goal was to pool our collective wisdom, challenge assumptions, reach across boundaries, and explore what's possible when everyone pulls in the same direction.

On June 20, the South Sound Committee, in conjunction with several local, active companies, including Davis Property and Investment, joined in on the Big Invitational, a fundraiser golf/networking event held annually at Washington National Golf Club in Auburn and put on by Big Brothers Big Sisters of Puget Sound.

Over the years, BBBSPS has worked with the South Sound Committee to keep the tournament specific to commercial real estate, and the excitement in the south-end development market shone strong this year with this twelfth annual Big Invitational selling out more than a month ahead of time and raising over $112,000 for Big Brothers Big Sisters!

Most of us know the ports in Washington as little industries within themselves, responsible for Washington’s link to international trade around the globe and the distribution infrastructure of our region. Ports also manage airports and public marinas, and support additional recreational opportunities via parks and open spaces. 

The predictions for the year ahead at the annual Broker Forecast were as sunny as the morning itself. The words butterflies and pots of gold, and phrases like riding the top of the wave, were used amid the rising lines of the charts and statistics shared as the three key real estate professionals talked about the aspects driving tenant decisions today and for the year ahead, as well as trends driving the industrial market.

I didn’t think I was surrounded by hockey fans, but I couldn’t have been more wrong.

At the March breakfast, we joined the Real Estate Challenge Committee for the culmination of the 16th Annual Challenge with three university teams presenting their proposals for Merlino Properties’ 5th and Bell site, and we heard from four Belltown neighborhood experts on the area’s future growth.

Wednesday’s meeting started with the passing of the gavel and official induction of Scott Mathews as the 2019 President of NAIOP Washington State. Scott is the Senior Director, Acquisitions & Residential Development, for Vulcan, Inc. Much gratitude was given to Tony Toppenberg of Turner Construction Company for his service this past year.

On Wednesday morning, we heard from three of Seattle’s commercial real estate innovators on their strategies in affordability amid the city’s rapid growth and development.

Who demands multiple mentors, likes working individually and has an attention span of eight seconds? A despondent Gen X’er? Nope. A forgetful Baby Boomer? Nah. Look no further than those born the same year Windows 95 was released. We found out about this generation and their values and expectations at this month’s NAIOPWA breakfast.

Programming Committee Co-Chair Ed Scherer introduced the October panel about augmented, virtual and mixed reality technologies and how they are changing the commercial real estate industry. These technologies are becoming more and more seamlessly embedded and integrated into the design and delivery process, providing immersive experiences, and streamlined and more efficient construction and maintenance.

New Programming Committee Chair Chris Beza introduced the September panel about the quickly transforming University District. The new Link light rail station, neighborhood upzone, and UW Master Plan are key factors influencing the area, each of which is a substantial change. Together, they add up to some remarkable changes that will continue to shape the ever-changing University District. It was an insightful morning and the only thing that could have made it better would have been a cameo of one or two of the iconic musicians that have sung about The Ave over the years (maybe an idea for next year, programs committee?!).

We all hope for a better future. On July 31, the NAIOPWA Sustainable Development Committee and the Developing Leaders Committee co-hosted the third annual Change Makers networking event, with the goal of getting closer to that better future.

To do this, the committees brought together voices from a diverse group of local change-making organizations caring for our environment, charting innovative codes and policy, and establishing Seattle as a leader in sustainable development and beyond. The goal was to pool the attendees’ collective wisdom, challenge assumptions, reach across boundaries and explore what's possible when everyone pulls in the same direction.

On July 11, NAIOPWA held our monthly breakfast meeting at the Georgetown Ballroom to learn about the future of urban industrial and take a field trip to the nearby Prologis Georgetown Crossroads, the first multi-level distribution center of its type.

President Tony Toppenberg kicked off the meeting by thanking our breakfast sponsor, Sierra Construction, and our stellar group of annual sponsors. We sincerely thank them for their involvement.

On Wednesday, NAIOP WA State interacted with a panel from CrowdStreet, Inc., their sponsors Scanlan Kemper Bard and SMARTCAP, and Stoel Rives LLP about online real estate investment, which is experiencing exponential growth. The online investment market allows for a diversity in investment profiles, potentially higher gains, and an increase of available analytical data. Molly Moore, CMO from CrowdStreet, moderated the panel where they talked online investment and legal implications and regulations.

Mary P. Hull, a Partner at Stoel Rives LLP, gave a brief introduction on the legal landscape explaining whether it is legal to raise capital for commercial real estate online (yes), and going over the ins and outs of the Jobs Act 2012, Angel List of 2010, and general securities laws such as Rule 506(b) and 506(c).

On Wednesday morning, we heard from Seattle’s neighboring cities that are emerging markets in our area (and don’t have a head tax!).

Before the program started, there was a recap on the Spring Property Tour and a Fred Hutchison representative gave their appreciation to everyone that came out earlier in the month. NAIOP WA State then presented a generous donation for $4,000 to the cancer research study organization.

April Breakfast: 2018 Broker Forecast: Is the Air Getting Thin? [Event Recap]

A “battle royale” was held at the NAIOP Breakfast Meeting on March 21, also known as a lively and illuminating discussion with two premier economists from our area.

President Tony Toppenberg began the meeting by showing even more features from the NAIOP WA app. It really does have some great features including the presenters’ slides for each breakfast meeting, downloadable for one month after each event. New members were introduced and we heard the sad news that Sharlyn Turner of Peterson and Sullivan passed away.