Source: Lowe Enterprises Real Estate Group
Actions to Guide the Industry through Tough Times
HERNDON, Va., January 26, 2009 – NAIOP today announces "NAIOP's Four-Point Promise to our Members During these Difficult Times."
The Promise captures the specific steps NAIOP will take in 2009 to protect the interests of its members and the industry-at-large, and to provide solutions that sustain its members businesses and facilitate returning the industry to good health.
"NAIOP recognizes the unprecedented challenges facing the commercial real estate development industry," said Thomas J. Bisacquino, NAIOP president. "While frozen capital sources, a turbulent global economy and the decline in transactions and employment have significantly affected our businesses and the industry's immediate future, we are confident that NAIOP members need their association more than ever to overcome these challenges and be prepared for tomorrow."
In 2009, NAIOP will:
1. Respond to the Credit and Capital Crisis"NAIOP's commitment to its members parallels the valuable, enduring role commercial real estate plays in our nation's economy," said Bisacquino. Commercial real estate has a tremendous impact on our nation's economy, with construction-related spending reaching $549 billion and adding 839 million square feet of existing building space in 2007, the latest comprehensive data available. It is one of the leading employers in the United States, supporting 4.89 million full-time equivalent jobs in 2007, and generating personal earnings of $170.1 billion.
NAIOP has established a member-driven Commercial Credit and Capital Advisory Board of capital experts to interpret fast-moving markets and how they affect the industry. NAIOP met with the Obama administration and Congress to ensure they understand the vital role commercial real estate plays in the economy, and will continue to protect the industry's interests with strong advocacy efforts that safeguard against public policies adverse to commercial real estate.2. Present Crucial, Relevant Viewpoints and Education
NAIOP is launching a new audio series of "Economic Insights," up-to-the-minute, straightforward economic reports on news that affects the industry. Specialized education on surviving in tough markets, presented by seasoned industry veterans, will be delivered via Web-based sessions, acknowledging reduced travel policies while maintaining the high-standard of education expected from NAIOP.3. Deliver Meaningful Research
The NAIOP Research Foundation has produced new studies on commercial real estate's economic contributions to the nation and macro-economic indicators that drive new development. This information will enable the industry to identify tomorrow's development trends and how to be positioned for capitalizing on ensuing business opportunities.4. Offer Exceptional Membership Services
NAIOP will offer support that allows members to continue membership in tough times, and put forward career tools and professional development resources.
About NAIOP
NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP comprises 18,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.