HERNDON, Va., January 17, 2012 – Commercial real estate development and construction is a perpetual and valuable economic engine, with spending and directly related outlays generating a significant financial impact despite slowed growth and the nation's economic strain, says a new report issued by the NAIOP Research Foundation.

The compounded economic impact of commercial development and construction spending reached $231.7 billion in 2010:

• $120.2 billion in hard costs (actual construction costs)
• $111.5 billion in soft costs (architecture, engineering, marketing, legal, management), site development and tenant improvements
• $1.86 billion in building operations (maintenance, repair, custodial services, utilities and management)

Total construction spending fell in 2010 for a fourth consecutive year, reflecting both the length and depth of the economic contraction of the national economy. Construction hard costs took the biggest hit, with spending for office, industrial, warehouse and retail totaling $41.7 billion - down 53.2 percent from 2007. A total of 228.4 million square feet of building space was added to the inventory - a decrease of 72.8 percent compared to 2007.

Commercial construction spending, employment and personal earnings in a 2010 vs. 2007 (the peak) comparison:

	2010	2007
Commercial Construction Spending Totals (includes direct spending and related economic impacts)	$231.7 billion	$548.7 billion
Employment Totals	1.76 million jobs	4.89 million jobs
Personal Earnings Totals	$70.1 billion	$170.1 billion

Report data shows that building (both commercial and residential) and non-building (roads, bridges, etc.) construction spending in 2010 totaled $803.6 billion and accounted for 5.5 percent of the Gross Domestic Product (GDP), well off its high in 2007 when spending totaled $1.16 trillion and accounted directly for 8.5 percent of the GDP.

"This decline in construction spending has resulted in a noticeable effect on the nation's economy, and it has negatively impacted the ability for some communities to emerge from the recession," said Thomas J. Bisacquino, NAIOP president and CEO. "A healthy real estate economy is vital to a prosperous U.S. economy, and the report shows that the national economy will remain muted until commercial and residential construction and development return to normal levels. It's critical that lawmakers develop economic policies that will strengthen the economy and create jobs."

The data and analysis are detailed in "The Contribution of Office, Industrial and Retail Development and Construction to the U.S. Economy" a report authored by Dr. Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University, and funded by the NAIOP Research Foundation.

Industry Prepared for Employment Growth
Commercial development is on the leading edge of the eventual economic upturn and will be prepared to meet companies' expansion needs as employment grows. Using standard jobs-per-square foot estimates, the new space developed in 2010 has the capacity to house 559,200 jobs with an annual payroll of $23.5 billion.

The potential productive value of this new building space represents a significant annual contribution to the local, state and national economies. In addition to the significant contribution to GDP and job and income growth nationwide that constructing 228.4 million square feet of new building space represents, these buildings continue to provide economic benefits to their economies after construction is completed. These economic impacts include outlays required to maintain and operate these buildings and the value of the work done in them.

• The operating outlays associated with the office, warehouse and retail space built in 2010 are estimated to total $731.8 million annually.
• This direct spending for building operations adds 1.86 billion to GDP, supports 13,114 new jobs and generates $543.8 million in new personal earnings.
• These operating outlays are annual and recur yearly over the life span of the building.

State Rankings
The 10 states with the largest construction values (hard costs only) accounted for 56.1 percent of the construction outlays in the United States, while the top 20 states accounted for 79.4 percent. The most populous states and those with the largest or best performing economies tended to rank highest by value of construction outlays, although there were variations depending on building type. Top 10 States by Construction Value, 2010

Ranking	Office	Industrial	Warehouse	Retail	All Categories
1	New York	Texas	Texas	Texas	New York
2	California	Georgia	Illinois	Florida	Texas
3	Washington, D.C.	Missouri	Florida	California	California
4	Texas	Ohio	Ohio	New York	Florida
5	North Carolina	Michigan	California	Pennsylvania	Georgia
6	Oregon	New York	New York	Illinois	Ohio
7	Florida	Pennsylvania	Indiana	Georgia	North Carolina
8	Maryland	Tennessee	North Carolina	Ohio	Missouri
9	Missouri	Louisiana	Utah	Virginia	Pennsylvania
10	Washington State	Minnesota	Louisiana	North Carolina	Illinois

Sources: McGraw-Hill Construction Analytics, GMU Center for Regional Analysis

About the Report
This report enables the commercial real estate industry to quantify the numbers that demonstrate its considerable and sustained contribution to the U.S. economy. With this data, public, state and local governments can learn the ways that commercial development makes a positive and lasting contribution to their communities, including:

• Supporting the creation of jobs;
• Generating personal earnings, and;
• Promoting new spending activity across the breadth of the economy.

The report was produced using data provided by the Bureau of Economic Analysis, U.S. Department of Commerce, U.S. Census Bureau, McGraw Hill Construction and a NAIOP member survey. The NAIOP Research Foundation published three previous editions of this report in 2006, 2008 and 2009.

To access a copy of the report, please contact Kathryn Hamilton, NAIOP vice president for marketing and communications, at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., November 15, 2011 – NAIOP, the Commercial Real Estate Development association, has named its 2012 Executive Committee, led by William E. Hunt, president of Pittsburgh-based The Elmhurst Group. Hunt will serve as chairman for the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate.

In addition to Hunt, ten NAIOP members and NAIOP President Thomas J. Bisacquino will lead the association as members of the Executive Committee. In their roles, these members will work with the corporate committees and NAIOP's corporate staff to plan and execute 2012's programs and activities.

Members of the Executive Committee are as follows:

Chairman-Elect Eugene Reilly Prologis Boston, Mass.	Treasurer Gregory Walz Northwestern Investment Management Company Milwaukee, Wis.
Immediate Past Chairman Alex Klatskin Forsgate Industrial Partners Teterboro, N.J.	Vice Chair, Membership and Chapter Relations Jean Kane Welsh Companies LLC Minneapolis, Minn.
Vice Chair, Government Affairs Jonathan Tratt Tratt Properties LLC Phoenix, Ariz.	Vice Chair, Business Development Ted Willcocks Manulife Financial Toronto, Ontario
Vice Chair, Education Ashley Powell RREEF San Francisco, Calif.	Vice Chair, Industry Trends Task Force Steve Martin SDM Partners Atlanta, Ga.
Vice Chair, National Forms Ralph Heins Primera Companies Inc. Dallas, Texas	Secretary and Vice Chair, Information and Research Jim Neyer Al Neyer Inc. Cincinnati, Ohio

For more about NAIOP, visit the online press room at www.naiop.org/pressroom.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., November 9, 2011 – The NAIOP Research Foundation today released the Industrial Space Demand Forecast, the fourth forecast from a model that analyzes important economic factors and net absorption data to predict future demand for industrial real estate.

View Larger Graphic.

According to the data:

• The current annualized rate of growth (3Q2011) was 1.16 percent - in line with the forecast of 1.0 percent and consistent with the readings during the past several quarters that have ranged from 1-1.26 percent.
• 3Q2011 growth was on the low end of historical norms that range from 1-2 percent per year. This finding is consistent with readings of the overall economy that has seen GDP growth that is positive but below long-term averages.
• Nevertheless, 3Q2011 marks the fifth consecutive quarter of positive growth in industrial demand, following seven prior quarters of deep contractions.
• Looking forward (see Table 2), all of the demand drivers have trended downward in sync with the somewhat stagnate U.S. economy. While the current conditions remain in the normal category, the direction and magnitude of the slowdown is troubling looking ahead to future quarters. Strong demand growth isn't expected until 2012, contingent upon the overall economy resuming more normalized growth.
• Therefore, the demand for industrial space will grow at an annualized rate of 1.09 percent in 4Q2011, which is at the low end of the normal range. Increasing rates of growth are expected to begin to occur into 2012, barring exogenous shocks.

"Sluggish industrial demand signifies that the industry, and this property sector in particular, are reliant on much-needed growth in the national economy," said Thomas J. Bisacquino, NAIOP president and CEO. "Although minimal, the positive growth industrial has experienced during the past several quarters is a small sign of optimism. It is evident that the industry won't return to more normal rates of growth until the overall economy stabilizes and businesses begin to spend again."

This is the fourth forecast for industrial space demand, part of ongoing data and analysis by Dr. Randy Anderson, University of Central Florida, and Dr. Hany Guirguis, Manhattan College. To read a research report regarding the methodology of the forecast and to download an accompanying graphic, visit www.naioprf.org.

Methodology for Industrial Space Demand Forecast Model
Drs. Anderson and Guirguis developed the forecasting model for the demand of industrial space at the national level. Utilizing variables that comprise the entire supply chain and lead the demand for space, the model is able to capture the majority of changes in demand.

While leading economic indicators have been able to forecast recessions and expansions, the indices used in this study are constructed to forecast industrial real estate demand expansions, peaks, declines and troughs. The Industrial Space Demand model was developed using the Kalman Filter approach, where the regression parameters are allowed to vary with time and thus are more appropriate for an unstable industrial real estate market.

This research initially examined nearly 40 real estate, economic and stock market variables that should theoretically be related to demand for industrial space. These variables included measures of employment, GDP, exports and imports, as well as air, rail and shipping data. Two variables, the Federal Reserve Board's Index of Manufacturing Output (IMO) and the PMI Index from the Institute for Supply Chain Management PMI (ISMPMI), capture the majority of the variation in demand and the entire supply chain.

The IMO is released monthly by the Federal Reserve Board of Governors. The index measures the quality of goods produced, excluding mining and utilities. The ISMPMI is constructed using a survey of purchasing managers' expectations. The Institute's monthly survey has five components: new orders, production, employment, deliveries and inventories. ISMPMI leads the IMO and is a leading indicator of production in the industrial sector, followed by the actual goods that are produced, which are portrayed and captured in the IMO data. The information leads firms in their decision making on how much industrial real estate they will demand.

Industrial Space Demand Forecast Data
Issued quarterly, the NAIOP Industrial Space Demand Forecast is based on Purchasing Manager Index (PMI) data provided by the Institute of Supply Management (ISM), Index of Manufacturing Output (IMO) data provided by the Federal Reserve, and net absorption data provided by CBRE Econometric Advisors.

The Industrial Space Demand Forecast was calculated using the data in the following tables:

Table 1	3Q2010	4Q2010	Current Condition	Trend
PMI: Purchasing Managers Index	55.30	58.30	Strong	Up
PMI - New Orders	51.6	62	Hot	Up
PMI - Production	58.1	63	Hot	Up
PMI - Employment	56.9	58.9	Strong	Up
PMI - Deliveries	53.8	56.7	Strong	Up
PMI - Inventory	56	51.8	Normal	Down
	1Q2011	2Q2011
IMO: Index of Manufacturing Output	1.79%	6.06%	Hot	Up

Table 2	2Q2011	3Q2011	Current Condition	Trend
PMI: Purchasing Managers Index	55.3	51.6	Normal	Down
PMI - New Orders	51.6	49.6	Normal	Down
PMI - Production	54.5	51.2	Normal	Down
PMI - Employment	59.9	53.8	Normal	Down
PMI - Deliveries	56.3	51.4	Normal	Down
PMI - Inventory	54.1	52	Normal	Down
	2Q2011	3Q2011
IMO: Index of Manufacturing Output	3.8%	3.64%	Strong	Down

To access the full report, please visit the NAIOP Research Foundation Web site or please contact Kathryn Hamilton at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., November 1, 2011 – NAIOP, the Commercial Real Estate Development Association, has named William E. Hunt as its 2012 Chairman of the Board. Hunt will serve as chairman for the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate.

Hunt accepted the leadership gavel from 2011 Chairman Alex Klatskin, partner with New Jersey-based Forsgate Industrial Partners, during NAIOP's Development '11: The Annual Meeting for Commercial Real Estate, held recently in Scottsdale, Ariz.

"NAIOP is privileged to have Bill leading the association next year as corporate chairman," said Thomas J. Bisacquino, NAIOP president and CEO. "His wealth of leadership experience in the commercial real estate industry, our association and his local community will prove invaluable as he connects with our local chapters and guides the organization's vision forward into 2012."

Hunt is President of The Elmhurst Group of companies - a 36-year-old Pittsburgh-based organization that invests in commercial real estate and operating businesses. Elmhurst's real estate holdings total more than 2.5 million square feet of office, distribution, flex space and a hotel, all in Western Pennsylvania. The firm has also invested in the retail, medical, hospitality, oil and gas, and electronic security industries.

He joined NAIOP in 1994 and has been extensively involved in the association. He is a member of the Nominating Committee, the Private Developers I Forum and a NAIOP Research Foundation Governor. He is a former Chairman of the Government Affairs Committee and President of the Pittsburgh Chapter.

Outside of NAIOP, he is actively involved in community affairs and charitable organizations, including the Duke University Graduate School of Visitors (Chair), the Carnegie Museum of Art (Chair), National Association of Industrial and Office Properties (National Board Chair-Elect), Pittsburgh Downtown Partnership (former Chair), Pittsburgh Public Theater (former Chair), as well as a Board member of the Pittsburgh Foundation, the Pittsburgh Cultural Trust and the Roy A. Hunt Foundation.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Charlotte, N.C., October 4, 2011 – NAIOP, the Commercial Real Estate Development Association, today announced that it has selected North Carolina-based Bissell as the recipient of its annual Sustainable Development Award.

Bissell is being honored for the Boyle and Harris office project, twin ten-story commercial structures located in Charlotte, N.C.

The award will be presented during a special ceremony on Wednesday, October 19, at NAIOP's Development '11: The Annual Meeting for Commercial Real Estate, in Scottsdale, Ariz.

"This project exemplifies the dedication of our members to create innovative and sustainable projects that contribute value not only to the developments themselves, but to the community and people they serve," said NAIOP President and CEO Thomas J. Bisacquino. "The Sustainable Development Award is one of many ways that NAIOP reiterates its commitment to sustainable development. NAIOP and its member companies are strong proponents of energy efficiency and are committed to continuing to couple increased efficiencies with the overall prosperity of the industry."

The Boyle and Harris buildings were awarded LEED® Gold Certification for the project's unique green design and construction features which include:

• Use of non-VOC materials
• Use of low-flow water fixtures throughout the buildings
• Higher levels of indoor air quality
• Use of 100 percent recycled steel materials
• Exposure to natural light
• Reflective roofs to reduce heat absorption
• Use of captured rainwater to reduce water usage
• Use of native and adaptable landscaping
• Use of solar heating panels

Founded in 1964, Bissell is widely recognized as the principal developer of Charlotte's Ballantyne and SouthPark developments - two of the Southeast's largest and most successful mixed-use communities. The company has had a primary focus during the past 15 years on the development of the 2,000-acre Ballantyne master-planned community. Ballantyne features numerous residential options in addition to schools, medical offices, childcare facilities, retail, restaurants, hotels, fitness facilities and more than 3.5 million square feet of commercial office space. Bissell's Ballantyne Corporate Park features more than one million square feet of LEED Gold certified office buildings, representing one of the largest commitments to the development of sustainable, fully speculative office space in the Southeast.

Located in Ballantyne Corporate Park, the Boyle and Harris buildings are centrally located to the development's many amenities, including an Audubon-certified golf course.

2011 Marks Seventh Annual Award for NAIOP
NAIOP established the Sustainable Development Award in 2005 to recognize the growing number of firms engaged in green development. NAIOP and its member companies are committed to developing model properties adhering to the highest standards in the industry and believe that socially conscious development is essential to the economic vitality of the industry.

Applicants were judged on a number of criteria, including company commitment to sustainability, project history, economic analysis, water efficiency, energy efficiency, accessibility, innovation and other sustainable attributes. Entries for the award were reviewed by industry leaders.

In 2011, the Sustainable Development Award is sponsored by Jones Lang LaSalle, KTR Capital Partners and Liberty Property Trust.

Previous recipients of the award include: (2010) Vulcan Real Estate for Alley24 in Seattle, Wash., and Pacific Plaza LLC for Pacific Plaza in Tacoma, Wash.; (2009) ProLogis for its sustainable distribution center for S. C. Johnson & Son, Inc., and Forest City Covington for its office building that houses Fidelity Investments at Mesa del Sol; (2008) Aardex LLC of Golden, Colo., for its speculative project, The Signature Centre, and Hamilton Partners its build-to-suit project, HSBC-North America Headquarters, in Mettawa, Ill.; (2007) the Georgetown Company, New York, N.Y., for their speculative project, the Lazarus Building, and Liberty Property Trust for the build-to-suit JohnsonDiversey project in Milwaukee, Wis.; (2006) Hines for their project at 1180 Peachtree in Atlanta, Ga.; and (2005) Corporate Office Properties Trust for its development at 318 Sentinel in Annapolis Junction, Md.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., September 6, 2011 – Fifteen exemplary young professionals have been named the recipients of the 2011 Developing Leaders Award, presented by NAIOP, the Commercial Real Estate Development Association.

The Developing Leaders Award is an annual award bestowed upon up-and-coming professionals who have distinguished themselves in their profession and show great promise as future leaders of the commercial real estate industry.

The recipients of the 2011 Developing Leaders Award are:

• Allison Beall - Director of Business Development, Pacific Building Group; San Diego, Calif.
• Andrew Cheney, CCIM - Principal, Lee & Associates Arizona; Phoenix, Ariz.
• Drew Dolan - Director of Development, Titan Development; Albuquerque, N.M.
• Brian Gates, LEED AP - Project Manager, H.G. Fenton Company; San Diego, Calif.
• Eli Gilbert - Senior Research Analyst, Jones Lang LaSalle; San Diego, Calif.
• Brendan Gill - Vice President, MacKenzie Management LLC; Lutherville, Md.
• Deidra Gonzales - Director of Business Development, Redland Inc.; Littleton, Colo.
• Fiona Haulter, P.E., LEED AP - Project Manager/Land Planning Business Development Lead, Gresham, Smith and Partners; Nashville, Tenn.
• Paul Jones - Vice President, CBRE; Newport Beach, Calif.
• Timothy Jones - Attorney, Lane Powell PC; Seattle, Wash.
• Greg Martz - Business Development Director, Keystone Corporation, Indianapolis, Ind.
• Brian McDonald - Business Development Officer, Stewart Title - Commercial Division; Denver; Colo.
• Andrew Patterson - Associate Finance Officer, Norris, Beggs & Simpson Financial Services; Seattle, Wash.
• Carlos Pineda, LEED AP - Vice President, VeenendaalCave Inc.; Atlanta, Ga.
• Shannon Van Gemert - Senior Production Analyst, CBRE Capital Markets; St. Paul, Minn.

NAIOP President and CEO Thomas J. Bisacquino spoke of the importance of the Developing Leaders Award, stating, "The Developing Leaders program recognizes the vital roles that the young visionaries of our industry play in commercial real estate today and encourages diversity and professional growth among these outstanding professionals who will lead commercial real estate into the future."

Recipients of NAIOP's Developing Leaders Award will be celebrated at Development '11: The Annual Meeting for Commercial Real Estate, where they will benefit from unique networking opportunities and publicity surrounding the award. Development '11, which takes place October 18-20 in Scottsdale, Ariz., features three days of industry education, information sharing and events aimed at ensuring that NAIOP members have the most up-to-date information on industry trends, best practices and business strategies to achieve success.

In an effort to engage and encourage up-and-coming young commercial real estate professionals, NAIOP established the Developing Leaders Award in 2006. The honor was designed to engage tomorrow's leaders and connect them with NAIOP's increasing education and benefits available to new and developing professionals.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., August 9, 2011 – The NAIOP Research Foundation today released the Industrial Space Demand Forecast, the third forecast from a model that analyzes important economic factors and net absorption data to predict future demand for industrial real estate.

View Larger Graphic.

According to the data:

• The current annualized rate of growth (2Q2011) came in near 1 percent, which is slightly lower than the 1.1 percent growth in 1Q2011 and the 1.26 percent growth registered in 4Q2010.
• 2Q2011 growth was on the low-end of historical norms that range from 1-2 percent per year. The finding is consistent with that of the overall economy that has seen GDP growth that is still positive but below long-term averages. In fact, 1Q2011 GDP growth was just revised downward to 0.4 percent and preliminary 2Q2011 GDP growth was a disappointing 1.3 percent.
• 2Q2011 marks the fourth consecutive quarter of positive growth in industrial demand, following seven prior quarters of deep contractions. While many of the underlying fundamental variables at best remained stable this quarter, several categories, including production and inventories, did trend downward.
• Looking forward (see Table 2), virtually all of the demand drivers have trended down in sync with the faltering U.S. economy. While the current conditions remain in the strong to normal categories, the direction and magnitude of the slowdown is troubling looking ahead to future quarters. Strong demand growth isn't expected until 2012, contingent upon the overall economy resuming GDP growth above 2.5 percent to 3 percent.
• Therefore, demand for industrial space is projected to grow at an annualized rate of 1 percent in 3Q2011, which is at the lowest end of the normal range. Increased rates of growth are expected to occur beginning toward the end of 2011 and into 2012, barring exogenous shocks.

"Demand is slowly returning to what's considered a 'normal range', which gives our members and industrial real estate a bit of optimism moving forward," said Thomas J. Bisacquino, NAIOP president and CEO. "Much of our continued success is dependent on growth in the GDP and the rebounding economy. As they return to more customary levels, demand for industrial real estate will ensue."

This is the third forecast for industrial space demand, part of ongoing data and analysis by Dr. Randy Anderson, University of Central Florida, and Dr. Hany Guirguis, Manhattan College. To read a research report regarding the methodology of the forecast and to download an accompanying graphic, visit www.naioprf.org.

Methodology for Industrial Space Demand Forecast Model
Drs. Anderson and Guirguis developed the forecasting model for the demand of industrial space at the national level. Utilizing variables that comprise the entire supply chain and lead the demand for space, the model is able to capture the majority of changes in demand.

While leading economic indicators have been able to forecast recessions and expansions, the indices used in this study are constructed to forecast industrial real estate demand expansions, peaks, declines and troughs. The Industrial Space Demand model was developed using the Kalman Filter approach, where the regression parameters are allowed to vary with time and thus are more appropriate for an unstable industrial real estate market.

This research initially examined nearly 40 real estate, economic and stock market variables that should theoretically be related to demand for industrial space. These variables included measures of employment, GDP, exports and imports, as well as air, rail and shipping data. Two variables, the Federal Reserve Board's Index of Manufacturing Output (IMO) and the PMI Index from the Institute for Supply Chain Management PMI (ISMPMI), capture the majority of the variation in demand and the entire supply chain.

The IMO is released monthly by the Federal Reserve Board of Governors. The index measures the quality of goods produced, excluding mining and utilities. The ISMPMI is constructed using a survey of purchasing managers' expectations. The Institute's monthly survey has five components: new orders, production, employment, deliveries and inventories. ISMPMI leads the IMO and is a leading indicator of production in the industrial sector, followed by the actual goods that are produced, which are portrayed and captured in the IMO data. The information leads firms in their decision making on how much industrial real estate they will demand.

Industrial Space Demand Forecast Data
Issued quarterly, the NAIOP Industrial Space Demand Forecast is based on Purchasing Manager Index (PMI) data provided by the Institute of Supply Management (ISM), Index of Manufacturing Output (IMO) data provided by the Federal Reserve, and net absorption data provided by CBRE Econometric Advisors.

The Industrial Space Demand Forecast was calculated using the data in the following tables:

Table 1	2Q2010	3Q2010	Current Condition	Trend
PMI: Purchasing Managers Index	55.30	55.30	Strong	Stable
PMI - New Orders	57	51.6	Normal	Down
PMI - Production	59.6	58.1	Strong	Stable
PMI - Employment	55.6	56.9	Strong	Up
PMI - Deliveries	57.7	53.8	Normal	Down
PMI - Inventory	46.6	56	Strong	Up
	4Q2010	1Q2011
IMO: Index of Manufacturing Output	4.9%	5.11%	Strong	Up

Table 2	1Q2011	2Q2011	Current Condition	Trend
PMI: Purchasing Managers Index	61.2	55.3	Strong	Down
PMI - New Orders	63.3	51.6	Normal	Down
PMI - Production	69	54.5	Normal	Down
PMI - Employment	63	59.9	Strong	Down
PMI - Deliveries	63.1	56.3	Strong	Down
PMI - Inventory	47.4	54.1	Normal	Up
	1Q2011	2Q2011
IMO: Index of Manufacturing Output	5.11%	3.4%	Strong	Down

To access the full report, please visit the NAIOP Research Foundation Web site or please contact Kathryn Hamilton at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., August 1, 2011 – NAIOP, The Commercial Real Estate Development Association, is bringing its annual meeting to Scottsdale, Ariz., October 18-20. Development '11: The Annual Meeting for Commercial Real Estate brings together industry professionals from across North America to focus on the timely issues and trends influencing the transitioning commercial real estate market. Nearly 1,000 commercial real estate professionals representing all sectors of the industry are expected to attend the conference, held at the Fairmont Scottsdale Princess.

The fluctuating state of the economy has greatly impacted the commercial real estate industry during the past several years and Development '11 will identify emerging trends and offer new strategies for doing business in light of the economic recovery. The most current data and information available will be presented during in-depth educational sessions on such vital industry topics as capital markets, retail and healthcare development, raising equity, public-private partnerships, asset management, construction costs and the state and future of the office and industrial markets, among others. These sessions will be led by some of the most recognized leaders in commercial real estate today, including distinguished industry CEOs Michael Alter, Philip Hawkins, Thomas Roberts, Ed Roski, Pat Ryan and Jeffrey Schwartz.

"In today's changing market, it's more important than ever for commercial real estate professionals to have access to the most timely and relevant information available on where to find new opportunities and meet the challenges the current business climate presents" said Thomas J. Bisacquino, NAIOP president and chief executive officer. "Development '11 provides our members with the crucial market information they need to formulize their business plans and lead the industry forward."

In addition to education sessions and keynote addresses, conference attendees will have the opportunity to tour two of Scottsdale's most unique, state-of-the-art properties during Development '11's Project Tours. The optional tours will feature the extraordinary Musical Instrument Museum and Frank Lloyd Wright's Taliesin West.

For registration information and information on the complete conference program, visit www.naiop.org/development11.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Media are invited to attend Development '11: The Annual Meeting for Commercial Real Estate at no charge, but must be pre-registered. To register, contact Kathryn Hamilton (703) 904-7100. For additional conference information, or to learn more about NAIOP, visit www.naiop.org.

HERNDON, Va., July 19, 2011 – NAIOP, the Commercial Real Estate Development Association, today announced that CenterPoint Properties has been selected as the 2011 Developer of the Year.

CenterPoint is the largest owner and developer of industrial real estate in metropolitan Chicago. The Company acquires, develops or sells nearly $1 billion of industrial property annually. With its affiliates, the company owns and manages more than 34.1 million square feet for 260+ customers. Currently, CenterPoint owns or controls 8,100+ acres of land for future development in Chicago and other hub-cities around the country. Unique in its infrastructure and transportation-related development, and the only company in the nation to develop an intermodal logistics center in its entirety, CenterPoint is developing several of these large-scale, public/private partnership developments in key markets

"CenterPoint Properties' position as an industry leader is evidenced by its ability to outperform no matter what the real estate cycle," said Thomas J. Bisacquino, NAIOP president and CEO. "NAIOP is proud to recognize CenterPoint for its development of outstanding projects and its ability to extend its practices to capitalize on opportunities and meet the demands of today's markets."

The award announcement follows CenterPoint's statement that Chief Executive Officer Michael Mullen will retire on September 30, 2011. Mullen, a founder of CenterPoint who guided the company as CEO since 2005, will become vice chair of the Board of Trustees and will also serve on the firm's Asset Allocation Committee.

"Mike's leadership in the Chicago real estate community and beyond is a driving factor behind CenterPoint's success," said Bisacquino. "Throughout his career with CenterPoint and during his leadership as NAIOP Chairman in 2007, Mike's skill for identifying the best opportunities, building great teams and conceiving the finest projects is remarkable. It's our honor to present him with this pinnacle award."

NAIOP will present the Developer of the Year award on Wednesday, October 19, at NAIOP's Development 11: The Annual Meeting for Commercial Real Estate in Scottsdale, Ariz.

Leadership in Intermodal Center Development; Strategic Investment Decisions
CenterPoint is a leader in the development of intermodal centers - single-hub locations specializing in receiving, transferring, storing, and distributing international and domestic cargo via air, rail, and highway. The company has developed leading intermodal facilities in California, Illinois, Missouri, Georgia, Texas and Virginia. Public/private partnerships have been the foundation of the company's large-scale projects and its success is due to creative collaboration with economic development and environmental protection agencies, transportation departments and key individuals from local, state and federal government.

CenterPoint Intermodal Center - Joliet (CIC-Joliet) is the largest master-planned inland port in North America. Situated on more than 6,000 acres just 40 miles southwest of downtown Chicago, CIC-Joliet is strategically positioned at the epicenter of the region's immense transportation infrastructure. Adjacent to the I-55/I-80 interchange and anchored by the BNSF's Logistics Park-Chicago and Union Pacific's-Joliet Intermodal Terminal, CIC-Joliet is home to the nation's top retail, shipping and distribution companies, including Walmart, Home Depot, Bissell, Stepan Chemical, Delong Companies, American President Lines (APL), Mediterranean Shipping Company (MSC), Georgia Pacific, Potlatch, McKesson, and the Dry Storage Corporation.

CenterPoint has emerged as a top developer in the government service sector, with particular regard to the U.S. Department of Energy. Currently, CenterPoint is under development of a National Nuclear Security Administration's (NNSA) manufacturing complex and research facility in Kansas City, Mo. The $700 million LEED Gold certified complex will comprise five buildings totaling 1.5 million square feet on 186 acres immediately north of CenterPoint Intermodal Center-Kansas City.

The CenterPoint Intermodal Center-Savannah (CIC-Savannah) comprises 250 acres available for development and will ultimately contain more than 1.3 million square feet of industrial facilities and 30 acres of container and trailer storage management. Located just 4 miles from the Georgia Port Authority and within minutes of I-95 and I-16, CIC-Savannah offers access to world-class transportation amenities, including direct Norfolk Southern rail service and the Norfolk Southern's Dillard Intermodal Yard, a domestic intermodal facility that can handle 150,000+ containers annually, is situated on 40 acres and is operational 24 hours a day. In November 2010, Coastal Logistics Group's 320,000 square feet rail served facility was the first build-to-suit at CIC-Savannah.

Investment by the company typically falls into two broad categories; strategic assets to hold long term and opportunistic assets for trade, both located in CenterPoint's targeted hub markets. CenterPoint remains one of the most active national industrial investors. During the last year, CenterPoint acquired more than $390 million of product. This includes the transfer of 87 North American Terminal properties throughout 38 states. The transaction was successfully completed in just 45 days.

On the disposition side, CenterPoint recognized the demand from the capital markets for high-quality, well-occupied industrial product. CenterPoint completed a three-building portfolio sale totaling 399,669 square feet. The transaction was valued at approximately $31.5 million and was a combination of a new development asset and acquisitions of leased product in liquid submarkets. It was an opportune time to recycle capital from select assets where significant value was created.

Leadership in Real Estate and General Business Communities
CenterPoint Properties recognizes the impact that buildings have on the environment and is committed to being socially responsible through its design/build initiatives. Through the years, CenterPoint has shown a commitment in providing innovative and sustainable facilities for tenants and investors. The company is committed to building energy efficient and sustainable buildings. CenterPoint completed two LEED (Leadership in Energy and Environmental Design by the U.S. Green Building Council) projects in 2009, with more than 500,000 square feet of sustainable development.

CenterPoint also exhibits leadership through technology, including the award winning CenterPoint Universal Business System (CUB), an enterprise portal integrating internal and external information into a cohesive .NET Web application that recognizes the power of a superior interface to enhance productivity. Inspired by best practices in data visualization, and designed to facilitate the company's business processes, CenterPoint used a "buy when you can/build when you can't" philosophy to combine their ERP solution, custom applications, MS Active Directory, MS SharePoint, EMS exchange, unstructured corporate data and external Web services into a system that provides the right information to the right people at the right time.

About Developer of the Year
Since 1979, the Developer of the Year award has been presented annually to one member-developer company that best exemplifies leadership and innovation in the commercial real estate industry. It is determined by a selection committee of industry peers, using six criteria to evaluate entries: industry and business leadership; involvement in NAIOP; quality of products and services; financial consistency and stability; ability to adapt to market conditions; and social consciousness. Past winners of the award include Alter Group; Highwoods Properties; Liberty Property Trust; Ryan Companies; Bentall Capital; ProLogis; Colonial Properties Trust; and Lowe Enterprises.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

About CenterPoint Properties: CenterPoint, a leading industrial real estate company, focuses on the acquisition, development and redevelopment of port and intermodal related properties offering customers supply chain savings. The company's investments, including 8,100+ acres under development in intermodal logistics business parks, are strategically located in the nation's transportation hubs. In early 2006, after a 13-year run as a publicly-traded real estate investment trust (REIT) on the New York Stock Exchange, the company was acquired by the California Public Employees' Retirement System, the nation's largest pension fund. For more information, please visit www.centerpoint-prop.com.

Washington, D.C., June 16, 2011 – The NAIOP Research Foundation announced today the appointment of William E. Hunt as one of the Foundation's 37 Governors.

Hunt is president and CEO of the Elmhurst Corporation, a private equity fund located in Pittsburgh, Pa. Elmhurst's real estate's holdings include more than 2.5 million square feet of office, flex and distribution space in the Pittsburgh region. In addition to his community involvement and participation on the boards of several charitable organizations, Hunt serves on NAIOP's Nominating Committee and is a member of NAIOP's Private Developers I National Forum. He will serve as the NAIOP chairman in 2012.

The mission of the NAIOP Research Foundation is to foster building better communities through practical research and education that advances the quality and makes evident the benefits of commercial real estate ownership and development.

Shirley Maloney, executive director of the NAIOP Research Foundation, said, "Contributions to the Foundation enable this important group to establish an endowment fund for the future. The Research Foundation plays a vital role in providing resources to shape our communities." Individuals who make a substantial contribution to the endowment fund of the NAIOP Research Foundation are invited to accept the lifetime distinction of Governor. Governors are eligible to serve as Foundation Trustees and help shape the Foundation's future research agenda.

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization that accepts tax deductible contributions. Its purpose is to support individuals and organizations engaged in real estate development, investment and operations. The Foundation strives to make available the very best research information regarding how real properties - especially office, industrial and mixed-use properties - impact and benefit communities throughout North America.

The Completed Research section of NAIOP's Research Foundation Web site features completed reports available for complimentary download. Visit www.naiop.org/foundation/completedresearch.cfm. For details on the Research Foundation, contact NAIOP at (703) 904-7100 or visit www.naioprf.org.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 to provide objective information and thoughtful insight about issues that affect professionals and organizations in the commercial real estate industry now and in the future. For more information, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., June 16, 2011 – The NAIOP Research Foundation announced today the appointment of Gerard H. Sweeney as one of the Foundation's 37 Governors.

Sweeney has served as president, chief executive officer and trustee of Brandywine Realty Trust since 1994 and as president since 1988. He serves as Chairman of the Schuylkill River Development Corporation and on the Board of Philadelphia's member station, WHYY. Sweeney is co-chair of the World Class Greater Philadelphia initiative, in addition to serving on the boards of several other Philadelphia-based organizations.

Sweeney is actively involved with NAIOP and Real Estate Roundtable, and he serves on the Board of Governors for NAREIT.

The mission of the NAIOP Research Foundation is to foster building better communities through practical research and education that advances the quality and makes evident the benefits of commercial real estate ownership and development.

Shirley Maloney, executive director of the NAIOP Research Foundation, said, "Contributions to the Foundation enable this important group to establish an endowment fund for the future. The Research Foundation plays a vital role in providing resources to shape our communities." Individuals who make a substantial contribution to the endowment fund of the NAIOP Research Foundation are invited to accept the lifetime distinction of Governor. Governors are eligible to serve as Foundation Trustees and help shape the Foundation's future research agenda.

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization that accepts tax deductible contributions. Its purpose is to support individuals and organizations engaged in real estate development, investment and operations. The Foundation strives to make available the very best research information regarding how real properties - especially office, industrial and mixed-use properties - impact and benefit communities throughout North America.

The Completed Research section of NAIOP's Research Foundation Web site features completed reports available for complimentary download. Visit www.naiop.org/foundation/completedresearch.cfm. For details on the Research Foundation, contact NAIOP at (703) 904-7100 or visit www.naioprf.org.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 to provide objective information and thoughtful insight about issues that affect professionals and organizations in the commercial real estate industry now and in the future. For more information, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., June 6, 2011 – NAIOP, the Commercial Real Estate Development Association, is bringing its annual industrial real estate conference to the Renaissance Long Beach in Long Beach, Calif., on June 22-23.

I.con: The Industrial Real Estate Conference, held in partnership with NAIOP SoCal and NAIOP Inland Empire, will bring together industrial commercial real estate leaders from across North America to focus on the most current trends, data and business strategies impacting the industrial sector.

Some of the vital industrial issues that will be explored at I.con include:

• The Panama Canal expansion and its potential impact on U.S. ports
• How today's economy and future logistics issues affect end users' location decisions
• The various demand drivers affecting industrial real estate
• What's happening in industrial leasing
• The outlook for industrial development, build-to-suit and spec opportunities
• The current landscape and the future forecast for industrial investment
• What kinds of industrial transactions are being brokered in the current market

"The changing shifts in the global economy present new challenges and opportunities for the industrial real estate market," said Thomas J. Bisacquino, NAIOP president and chief executive officer. "I.con will offer the timeliest information on everything from emerging leasing trends to the industrial investment outlook presented by some of the industry's foremost leaders."

The event will also spotlight two of the country's busiest logistics hubs during I.con's conference tours. Attendees will have a choice of seeing the twin Ports of Los Angeles and Long Beach or Union Pacific's Intermodal Container Transfer Facility (ICTF) by boat during the tours.

Media are invited to attend I.con at no charge, but must be pre-registered. To register, contact Kathryn Hamilton at (703) 904-7100. For additional conference information, visit www.naiop.org/icon11.

About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., May 16, 2011 – The NAIOP Research Foundation today released the Industrial Space Demand Forecast, the second forecast from a model that analyzes important economic factors and net absorption data to predict future demand for industrial real estate.

View Larger Graphic.

According to the data:

• The annualized rate of growth (1Q2011) is 1.1 percent. It is in line with previous forecasts, but slightly lower than the 1.26 percent annualized growth rate forecasted last quarter.
• 1Q2011 growth fell in line with historical averages that range from growth of 1-2 percent per year. This finding is consistent with an economy marked by growth in output and improving labor markets.
• Prior to 3Q2010, the industry had been in "contraction mode" marked by seven consecutive quarters of negative demand for industrial space. In fact, in 4Q09 demand declined at an average annualized rate of 1.2 percent, which was well below the rate of decline in the prior quarters of 2009. The 1Q2011 results mark the third consecutive quarter of growth in demand.
• Underlying data from 2010 that impacted this quarter's forecast remains strong, but is trending down from the beginning of 2010 as exogenous shocks impacted the economy and real estate markets.
• Looking forward (see Table 2), virtually all demand drivers have trended up and have moved into the "hot" category. As such, while the next couple of quarters are likely to remain solid, strong growth should result towards the end of 2011 and into 2012.
• Therefore, demand for industrial space is projected to grow at an annualized rate of 1.5 percent in 2Q2011, which is in line with historical averages. Increased rates of growth will begin to occur towards the end of the year, barring exogenous shocks.

"The growth in demand returning to what can be called 'normal demand' is a very positive sign for the industrial real estate industry," said Thomas J. Bisacquino, NAIOP president and CEO. "It signifies a renewed confidence and increased activity in the industrial market, which is in response to job growth across all sectors."

This is the second forecast for industrial space demand, part of ongoing data and analysis by Dr. Randy Anderson, University of Central Florida, and Dr. Hany Guirguis, Manhattan College. To read a research report regarding the methodology of the forecast and to download an accompanying graphic, visit the NAIOP Research Foundation Web site.

Methodology for Industrial Space Demand Forecast Model
Drs. Anderson and Guirguis developed the forecasting model for the demand of industrial space at the national level. Utilizing variables that comprise the entire supply chain and lead the demand for space, the model is able to capture the majority of changes in demand.

While leading economic indicators have been able to forecast recessions and expansions, the indices used in this study are constructed to forecast industrial real estate demand expansions, peaks, declines and troughs. The Industrial Space Demand model was developed using the Kalman Filter approach, where the regression parameters are allowed to vary with time and thus are more appropriate for an unstable industrial real estate market.

This research initially examined nearly 40 real estate, economic and stock market variables that should theoretically be related to demand for industrial space. These variables included measures of employment, GDP, exports and imports, as well as air, rail and shipping data. Two variables, the Federal Reserve Board's Index of Manufacturing Output (IMO) and the PMI Index from the Institute for Supply Chain Management PMI (ISMPMI), capture the majority of the variation in demand and the entire supply chain.

The IMO is released monthly by the Federal Reserve Board of Governors. The index measures the quality of goods produced, excluding mining and utilities. The ISMPMI is constructed using a survey of purchasing managers' expectations. The Institute's monthly survey has five components: new orders, production, employment, deliveries and inventories. ISMPMI leads the IMO and is a leading indicator of production in the industrial sector, followed by the actual goods that are produced, which are portrayed and captured in the IMO data. The information leads firms in their decision making on how much industrial real estate they will demand.

Industrial Space Demand Forecast Data
Issued quarterly, the NAIOP Industrial Space Demand Forecast is based on Purchasing Manager Index (PMI) data provided by the Institute of Supply Management (ISM), Index of Manufacturing Output (IMO) data provided by the Federal Reserve, and net absorption data provided by CBRE Econometric Advisors.

The Industrial Space Demand Forecast was calculated using the data in the tables below for 1Q2011:

Table 1	1Q2010	2Q2010	Current Condition	Trend
PMI: Purchasing Managers Index	60.40	55.30	Strong	Down
PMI - New Orders	62.9	57	Strong	Down
PMI - Production	64.3	59.6	Strong	Down
PMI - Employment	55.8	55.6	Strong	Stable
PMI - Deliveries	64.1	57.7	Strong	Down
PMI - Inventory	54.7	46.6	Weak	Down
	3Q2010	4Q2010
IMO: Index of Manufacturing Output	5.37%	3.60%	Strong	Down

Table 2	4Q2010	1Q2011	Current Condition	Trend
PMI: Purchasing Managers Index	58.5	61.2	Hot	Up
PMI - New Orders	62	63.3	Hot	Up
PMI - Production	63	69	Hot	Up
PMI - Employment	58.9	63	Warm	Up
PMI - Deliveries	56.7	63.1	Warm	Up
PMI - Inventory	51.8	47.4	Weak	Down
	4Q2010	1Q2011
IMO: Index of Manufacturing Output	3.6%	4.93%	Strong	Up

To access the full report, please visit the NAIOP Research Foundation Web site or please contact Kathryn Hamilton at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

About NAIOP:

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., February 23, 2011 – The NAIOP Research Foundation has made individual state reports available that detail the state's data for commercial construction spending, employment and personal earnings in a 2009 vs. 2007 comparison.

The reports, for all states where NAIOP has a chapter, are available through an interactive online map.

"This report demonstrates the significant financial impact that commercial development and construction has on the state and national economies, and it reconfirms that a healthy real estate economy is vital to a prosperous U.S. economy," said Thomas J. Bisacquino, NAIOP president and CEO.

Report data is from the recently issued "The Contribution of Office, Industrial and Retail Development and Construction to the U.S. Economy," a report authored by Dr. Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University, and funded by the NAIOP Research Foundation.

National Outlook
Commercial real estate development and construction is a perpetual and valuable economic engine, with spending and directly related outlays generating a significant financial impact and helping to counter the recessionary forces that have undermined the economy's performance since December 2007.

The compounded economic impact of commercial development and construction spending reached $288 billion in 2009, as follows:

• $148.6 billion in hard costs (actual construction costs)
• $139.4 billion in soft costs (architecture, engineering, marketing, legal, management), site development and tenant improvements
• An additional $2.52 billion were spent on building operations (maintenance, repair, custodial services, utilities and management)

Development and construction spending declined in 2009 due to the recession's economic contraction, yet it still generated an overall positive contribution to the U.S. economy. Direct outlays for construction spending for office, industrial, warehouse and retail totaled $46.6 billion, down 48 percent from 2007. And although an additional 264.6 million square feet of building space was added to the inventory, it represents a decrease of 68.5 percent compared to 2007.

National commercial construction spending, employment and personal earnings in a 2009 vs. 2007 comparison:

	2009	2007
Commercial Construction Spending Totals	$288 billion	$549 billion
Employment Totals	2.4 million jobs	4.89 million jobs
Personal Earnings Totals	$89.1 billion	$170.1 billion

Report data shows that building (both commercial and residential) and non-building (roads, bridges, etc.) construction spending in 2009 totaled $908 billion and accounted for 6.4 percent of the GDP, well off its high in 2007 when construction spending totaled $1.16 trillion and accounted directly for 8.5 percent of the GDP.

About the Report
This report enables the commercial real estate industry to quantify the numbers that demonstrate its considerable and sustained contribution to the U.S. economy. With this data, public and state and local governments can learn the ways that commercial development makes a positive and lasting contribution to their communities, including:

• Supporting the creation of jobs;
• Generating personal earnings, and;
• Promoting new spending activity across the breadth of the economy.

The report was produced using data provided by the Bureau of Economic Analysis, U.S. Department of Commerce, U.S. Census Bureau, McGraw Hill Construction and a NAIOP member survey. The NAIOP Research Foundation published two previous editions of this report in 2006 and 2008.

To access a copy of the report, please contact Kathryn Hamilton, NAIOP vice president for marketing and communications, at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., February 15, 2011 – NAIOP, the Commercial Real Estate Development Association, honored several NAIOP chapters for their outstanding achievements during its annual Chapter Merit Awards ceremony, held in Washington, D.C., on February 9.

The volunteer panel of judges did not have an easy job selecting the award winners from among the more than 125 outstanding nominees representing a host of categories, including the coveted Chapter of the Year award.

"NAIOP has a long tradition of honoring its chapters, and this year's event was no exception," said Thomas J. Bisacquino, NAIOP president and chief executive officer. "Our panel of volunteer judges had a challenging task in choosing the award winners from the many outstanding nominations that were received. On behalf of the association, I congratulate each and every nominee, and offer special recognition to all who were honored during our celebration."

The following is a list of 2011 NAIOP Chapter Merit Award winners:

Chapter of the Year - honors a chapter in each category for their outstanding work, participation and achievements. The winning chapters each receive a $1,000 education grant to further educational programming on the local level, as well as a trophy that is displayed in NAIOP's corporate office and the chapter's local office.

• NAIOP North Carolina Piedmont Triad (small chapter winner)
• NAIOP San Diego (medium chapter winner)
• NAIOP New Jersey (large chapter winner)

Special Awards

• Outstanding Contribution by a Chapter Executive: Constance Wrigley-Thomas, NAIOP Greater Toronto
• Outstanding Contribution by a Chapter President: Joseph Tufariello, NAIOP New York City
• Volunteer of the Year: Sallie Doebler, NAIOP Southern Nevada

Annual Publication

• NAIOP Colorado: Spotlight Supplement
• NAIOP New Mexico: New Director/Member Notebook

Community Service

• NAIOP Georgia: Partnership with Ron Clark Academy
• NAIOP Tampa Bay: RE Lives Program

Developing Leaders

• NAIOP Arizona: DL Quarterly Newsletter and DL Web Site
• NAIOP Northern Ohio: DL Membership Growth and DL Events
• NAIOP San Diego: DL Lunch and Learn Series, Mentorship Program and Job Shadow Program

Education

• NAIOP Georgia: School Challenge
• NAIOP Nashville: Music City Real Estate Challenge
• NAIOP South Florida: College Challenge
• NAIOP Northwest Florida: Coastal Crisis

Legislative/Government Affairs

• NAIOP Southern Nevada: Position Paper and Public Policy Initiative
• NAIOP New Mexico: Statewide Effort to Change Energy Conservation Code

Membership

• NAIOP North Carolina Piedmont Triad: Member Retention, Ambassadors and VIP Program
• NAIOP San Francisco Bay Area: Retention Plan and Membership Committee Outreach
• NAIOP Greater Toronto: 90 Percent Retention Rate and Free Member Events

Periodical Publication

• NAIOP Arizona: Developing Leaders Newsletter
• NAIOP Central Florida: Bi-monthly Newsletter
• NAIOP North Carolina Piedmont Triad: Monthly Electronic Newsletter

Special Events

• NAIOP Georgia: NAIOP Night
• NAIOP Greater Toronto: REX Awards
• NAIOP Pittsburgh: "Feel the Energy" Gala Event
• NAIOP Silicon Valley: Developer Hall of Fame

Sponsorship Program

• NAIOP Greater Toronto: Chapter Sponsorship Program
• NAIOP Houston: High Sponsorship Renewals
• NAIOP North Carolina Piedmont Triad: 22 Corporate Sponsors

Technology

• NAIOP Minnesota: Chapter blog, e-newsletter and Web site
• NAIOP South Florida: Chapter Web site

Chapter Leadership and Legislative Retreat Brings NAIOP Leaders Together
The Chapter Merit Awards are a traditional highlight of NAIOP's Chapter Leadership and Legislative Retreat, which brings together more than 300 chapter leaders and executives representing 55 chapters throughout the United States and Canada.

This annual gathering provides exceptional education sessions and the opportunity to network with chapter leaders from across North America. Attendees also gain insight into the political process from keynote sessions throughout the event. Keynote speakers at this year's conference included election analyst Larry Sabato; U.S. Representative Kristi Noem (R-S.D.); and U.S. Representative Heath Shuler (D-N.C.).

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., February 3, 2011 – The NAIOP Research Foundation today released the Industrial Space Demand Forecast, a new study and model created for NAIOP that predicts future demand for industrial real estate by analyzing various economic factors and net absorption data.

View Larger Graphic.

According to the data:

• The current annualized rate of growth (4Q2010) is 1.24 percent, which is in line with the historical average of 1 to 2 percent.
• Prior to 3Q2010, industrial space demand had been in "contraction mode" marked by seven consecutive quarters of negative demand for industrial space. In 4Q09, demand declined at an average annualized rate of 1.2 percent, which was below the rate of decline in the prior quarters of 2009.
• The two main variables used in the calculation - Purchasing Manager Index and Index of Manufacturing Output (see below for details) - are strong and suggest positive increases in demand during the next several quarters.
• Two of the demand drivers (PMI-Employment and PMI-Inventory) are currently ranging from average to strong however; they are trending down from previous quarters, suggesting the industrial market is unlikely to expand exceptionally until the overall economy becomes more robust.
• The remaining demand drivers (PMI-New Orders, PMI-Production and PMI-Deliveries) are currently ranging from average to strong and are trending up, which suggest an increasing demand for industrial space.
• The outlook for demand of industrial space is similar to the overall outlook for the economy - in that markets are stabilizing and beginning the process recovery. However, in the early phase of a recovery period, markets remain sensitive to exogenous shocks and events.
• Therefore, demand for industrial space in 1Q2011 is projected to grow at a 1.70 percent annualized rate, which is on par with historical averages suggesting that the sector is improving.

Issued quarterly, the NAIOP Industrial Space Demand Forecast is based on Purchasing Manager Index (PMI) data provided by the Institute of Supply Management (ISM), Index of Manufacturing Output (IMO) data provided by the Federal Reserve, and net absorption data provided by CBRE Econometric Advisors.

"Industrial property investors, lenders and forecasters have an explicit need for a concise measurement for industrial space demand, and this new forecast provides that data in a snap-shot format," said Thomas J. Bisacquino, NAIOP president and CEO. "The upward trend demonstrates renewed confidence and increased activity in the industrial market, and the data provides valuable information for the developers and financiers to make better transaction decisions."

The data and analysis are detailed in "Industrial Space Demand," a report co-authored by Dr. Randy Anderson, University of Central Florida, and Dr. Hany Guirguis, Manhattan College, and funded by the NAIOP Research Foundation. To read the complete whitepaper regarding the methodology of the Forecast, visit the Research Foundation Web site.

Methodology for Industrial Space Demand Forecast Model
Drs. Anderson and Guirguis developed the forecasting model for the demand of industrial space at the national level. Utilizing variables that comprise the entire supply chain and lead the demand for space, the model is able to capture the majority of changes in demand.

While leading economic indicators have been able to forecast recessions and expansions, the indices used in this study are constructed to forecast industrial real estate demand expansions, peaks, declines and troughs. The Industrial Space Demand model was developed using the Kalman Filter approach, where the regression parameters are allowed to vary with time and thus are more appropriate for an unstable industrial real estate market.

This research initially examined nearly 40 real estate, economic and stock market variables that should theoretically be related to demand for industrial space. These variables included measures of employment, GDP, exports and imports, as well as air, rail and shipping data. Two variables, the Federal Reserve Board's Index of Manufacturing Output (IMO) and the PMI Index from the Institute for Supply Chain Management PMI (ISMPMI), capture the majority of the variation in demand and the entire supply chain.

The IMO is released monthly by the Federal Reserve Board of Governors. The index measures the quality of goods produced, excluding mining and utilities. The ISMPMI is constructed using a survey of purchasing managers' expectations. The Institute's monthly survey has five components: new orders, production, employment, deliveries and inventories. ISMPMI leads the IMO and is a leading indicator of production in the industrial sector, followed by the actual goods that are produced, which are portrayed and captured in the IMO data. The information leads firms in their decision making on how much industrial real estate they will demand.

Industrial Space Demand Forecast Data

The Industrial Space Demand Forecast was calculated using the data in the tables below for 4Q2010.

Table 1	4Q09	1Q10	Current Condition	Trend
PMI: Purchasing Managers Index	54.9	59.6	Warm	Up
PMI - New Orders	64.8	61.5	Hot	Down
PMI - Production	59.7	61.1	Hot	Up
PMI - Employment	50.2	55.1	Warm	Up
PMI - Deliveries	56.8	64.9	Hot	Up
PMI - Inventory	43	55.3	Warm	Up
	2Q10	3Q10
IMO: Index of Manufacturing Output	7.7%	6.26%	Hot	Down

Table 2	3Q10	4Q10	Current Condition	Trend
PMI: Purchasing Managers Index	54.4	57	Warm	Up
PMI - New Orders	51.1	60.9	Hot	Up
PMI - Production	56.5	60.7	Hot	Up
PMI - Employment	56.5	55.7	Warm	Down
PMI - Deliveries	52.3	55.9	Warm	Up
PMI - Inventory	55.6	51.8	Average	Down
	3Q10	4Q10
IMO: Index of Manufacturing Output	6.26%	5.54%	Warm	Down

To access the full report, please visit the NAIOP Research Foundation Web site or please contact Sarah Milans, NAIOP marketing manager, at (703) 904-7100 or milans@naiop.org.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., February 3, 2011 – Thomas J. Bisacquino, president of NAIOP, the Commercial Real Estate Development Association, today issued a statement regarding President Obama's announcement of the "Building Better Initiative."

NAIOP and its members are encouraged by President Obama's proposal of new efforts to improve energy efficiency in commercial buildings across the country. This issue has long been championed by NAIOP, as the commercial real estate development industry is steadily working toward being a more energy-efficient, responsible sector of business.

The President's aggressive approach to provide incentives for commercial building retrofits and new construction projects, as well as a new proposed competitive grant program, will be important factors in building owners' ability to retrofit and improve their properties. These incentives will not only make a difference to commercial owners, but are also valuable to schools and hospitals.

NAIOP will work with its membership to utilize these incentives and other resources to advance energy efficiency and move one step closer to improving air quality and lessening energy expenses.

NAIOP and the industry look forward to learning the specifics of this proposal and working with the administration and Congress on future programs and legislation related to this initiative.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

Washington, D.C., January 12, 2011 – Commercial real estate development and construction is a perpetual and valuable economic engine, with spending and directly related outlays generating a significant financial impact and helping to counter the recessionary forces that have undermined the economy's performance since December 2007.

In a new report issued by the NAIOP Research Foundation, the compounded economic impact of commercial development and construction spending reached $288 billion in 2009, as follows:

• $148.6 billion in hard costs (actual construction costs)
• $139.4 billion in soft costs (architecture, engineering, marketing, legal, management), site development and tenant improvements
• An additional $2.52 billion were spent on building operations (maintenance, repair, custodial services, utilities and management)

Download the full report on the NAIOP Research Foundation Web site.

Development and construction spending declined in 2009 due to the recession's economic contraction, yet it still generated an overall positive contribution to the U.S. economy. Direct outlays for construction spending for office, industrial, warehouse and retail totaled $46.6 billion, down 48 percent from 2007. And although an additional 264.6 million square feet of building space was added to the inventory, it represents a decrease of 68.5 percent compared to 2007.

"This decline in construction spending has resulted in a noticeable effect on the nation's economy, and it has negatively impacted the ability for communities across the county to pull out of the recession," said Thomas J. Bisacquino, NAIOP president and CEO. "This report reconfirms that a healthy real estate economy is vital to a prosperous U.S. economy, and the industry is depending on lawmakers and the administration to continue to free sources of capital so that development can recommence, and the trickledown effect will be seen in increased employment numbers and consumer spending."

Commercial construction spending, employment and personal earnings in a 2009 vs. 2007 comparison:

	2009	2007
Commercial Construction Spending Totals	$288 billion	$549 billion
Employment Totals	2.4 million jobs	4.89 million jobs
Personal Earnings Totals	$89.1 billion	$170.1 billion

Report data shows that building (both commercial and residential) and non-building (roads, bridges, etc.) construction spending in 2009 totaled $908 billion and accounted for 6.4 percent of the GDP, well off its high in 2007 when construction spending totaled $1.16 trillion and accounted directly for 8.5 percent of the GDP.

The data and analysis are detailed in "The Contribution of Office, Industrial and Retail Development and Construction to the U.S. Economy" a report authored by Dr. Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University, and funded by the NAIOP Research Foundation.

Recession Effects
The effects of the 2008-2009 recession were felt by all segments of the economy, and the construction sector was disproportionately impacted by the collapse of the financial markets and subsequent decrease in demand for new housing and non-residential building space.

Residential construction peaked in 2005 with starts totaling 2.07 million units and declined to 554,000 housing units in 2009, a decrease of 73 percent. During the first three years of this same time period (2005-2008), non-residential building construction outlays continued to increase, peaking in 2008.

This extended spending helped offset an industry-wide decline that would worsen in 2009 and has continued through 2010. However, with the national economy's accelerating recession, non-residential building construction outlays fell by 20.4 percent in 2009.

Industry Prepared for Employment Growth
Commercial development must be on the leading edge of the eventual economic upturn and be equipped to meet companies' expansion needs as joblessness numbers decline and employment grows. Using standard jobs-per-square feet estimates, the new space developed in 2009 has the capacity to house 674,300 jobs with an annual payroll of $29.8 billion.

The potential productive value of this new building space represents a significant annual contribution to the local, state and national economies. In addition to the significant contribution to GDP and job and income growth nationwide that constructing 264.6 million square feet of new building space represents, these buildings continue to provide economic benefits to their economies after construction is completed. These economic impacts include outlays required to maintain and operate these buildings and the value of the work done in them.

• The operating outlays associated with the office, warehouse and retail space built in 2009 are estimated to total $871.2 million annually.
• This direct spending for building operations would add $2.525 billion to GDP, support 21,222 new jobs and generate $801.4 million in new personal earnings.
• These operating outlays are annual and recur yearly over the life span of the building.

State Rankings
The 10 states with the largest construction values (hard costs only) accounted for 56.1 percent of the construction outlays in the United States, while the top 20 states accounted for 79.4 percent. The most populous states and those with the largest or best performing economies tended to rank highest by value of construction outlays, although there were variations depending on building type.

Top 10 States by Construction Value, 2009

Ranking	Office	Industrial	Warehouse	Retail	All Categories
1	New York	Illinois	Texas	Texas	New York
2	Virginia	Ohio	California	Florida	Texas
3	California	Texas	Florida	California	California
4	Texas	New York	New York	Illinois	Virginia
5	Florida	Arizona	Pennsylvania	New York	Florida
6	North Carolina	Pennsylvania	Arizona	Georgia	Illinois
7	Washington State	California	Georgia	North Carolina	Ohio
8	Maryland	New Mexico	Ohio	Pennsylvania	Pennsylvania
9	Oklahoma	Louisiana	Washington State	Ohio	North Carolina
10	Washington, D.C.	Colorado	North Carolina	Washington State	Arizona

Sources: McGraw-Hill Construction Analytics, GMU Center for Regional Analysis

About the Report
This report enables the commercial real estate industry to quantify the numbers that demonstrate its considerable and sustained contribution to the U.S. economy. With this data, public and state and local governments can learn the ways that commercial development makes a positive and lasting contribution to their communities, including:

• Supporting the creation of jobs;
• Generating personal earnings, and;
• Promoting new spending activity across the breadth of the economy.

The report was produced using data provided by the Bureau of Economic Analysis, U.S. Department of Commerce, U.S. Census Bureau, McGraw Hill Construction and a NAIOP member survey. The NAIOP Research Foundation published two previous editions of this report in 2006 and 2008.

To access a copy of the report, please contact Kathryn Hamilton, NAIOP vice president for marketing and communications, at (703) 904-7100.

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., December 15, 2010 – Thomas J. Bisacquino, president and CEO of NAIOP, the Commercial Real Estate Development Association, issued the following statement following the Senate's passage of Senate Amendment 4753 to H.R. 4853, The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.

"NAIOP commends the United States Senate for today passing an important tax package that extends tax cuts for all Americans and continues tax provisions vital to the commercial real estate industry.

In this time of economic recovery in our nation, it's important that Congress and the administration continue to take responsible actions that prevent tax increases. NAIOP urges the House to quickly pass their bill so that the legislation can move to President Obama's desk for signature and begin to have an immediate, positive impact on the nation's economy.

For commercial real estate, this legislation brings significant value to property owners and developers - and particularly for small businesses - and their ability to depreciate certain leasehold improvements, restaurant buildings and improvements, and retail improvements over 15 years. Also included is an extension of a provision that allows for the expensing of costs associated with cleaning up hazardous brownfield sites. Both were extended for two years, through 2011, and both have been legislative priorities for NAIOP.

NAIOP is particularly pleased to see an extension of the current capital gains and dividends rates for all taxpayers for an additional two years, through 2012.

A healthy real estate economy is vital to a prosperous U.S. economy and produces an immense ripple effect with job creation and personal earnings that quickly roll over into increased consumer spending. A recent study by the NAIOP Research Foundation shows that total real estate construction spending in 2009 reached $900 billion - approximately 6.4 percent of the nation's Gross Domestic Product. Commercial development supports 2.4 million full-time equivalent jobs in the United States and generates personal earnings of $89.1 billion."

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., November 12, 2010 – Global shifts in manufacturing, consumption trends and international competition are three leading factors that will shape the future of goods movement and the demand for warehouse and distribution space, according to a report issued by The NAIOP Research Foundation.

The report, Trends in Global Manufacturing, Goods Movement and Consumption, and Their Effect on the Growth of United States Ports and Distribution, provides:

• An overview of manufacturing as an industry and the competitive issues facing domestic and foreign manufacturing.
• The accommodations being made in the logistics industry to support manufacturing.
• An array of drivers that impact site selection for warehouses and distribution centers.
• A perspective on the headwinds facing the United States manufacturing industry and the challenges that they will face from global competition.
• Insights into the inter-relationships and demands that exist between manufacturing, distribution and warehousing and how they may create new leasing, sales, development and construction opportunities.

Sponsored by the Foundation and prepared by Curtis Spencer and Steve Schellenberg with IMS Worldwide Inc. in Webster, Texas, the full report is available for complimentary download at www.naioprf.org.

Manufacturing Trends
Global shifts in manufacturing have occurred as supply chain tracking systems and logistics networks better support remote production sites that offer lower labor costs. However, challenges with the extra distance - including efforts to deliver parts for production and the delivery of the finished product - make it more difficult to retain predictability in the supply chain. Additionally, managing the longer and more complex supply chain adds expense, which must be tracked to make sure it does not erase lower-cost labor benefits.

Traditionally, products with high labor content have historically sought global production centers where they can access the lowest possible labor costs in wages and benefits. Manufacturing in the United States has been subjected to competition from countries with lower wages and viable platforms for business operations with an infrastructure to support production of labor intensive products. With adequate export systems, many countries have taken lower value-added jobs from the United States and used them to begin their own evolution toward economic stability.

Consumption Trends
It is estimated that in 2025, India and China will account for nearly 25-40 percent of the total world demand for goods and services¹, as the demand for consumer goods such as clothing, food, automobiles, phones and pharmaceuticals is driven by growing populations and a new and expanding global middle class. These consumers will have a dramatic impact on the site selection process for the manufacturing facilities and distribution centers supporting the flow of goods between global production centers and consumers.

In 2011, China is expected to out-produce the United States for the first time, producing $1.87 billion in goods output while the United States is expected to produce $1.71 billion in goods output. In the United States, this production value has created 12 million jobs within the manufacturing industry, which accounts for approximately 10 percent of the overall United States workforce².

Global Competition
International markets are improving their attractiveness to business and competing with the United States for multi-national marketing, investment, research and development and manufacturing. Increasing pressure from new entries into the roster of countries that are attractive to multi-nationals include the BRIC (Brazil, Russia, India and China) countries as the top locations for foreign direct investment in 2009-2011³.

Additionally, U.S. government policies have a profound impact on manufacturing and manufacturing-related employment in the United States. Decisions that are made by multi-national corporations go well beyond the selection of manufacturing locations, and include decisions about where to locate corporate headquarters, research and development centers, production centers and distribution networks. Four have a varying impact on when, where and why companies select and locate facilities:

1. Corporate Income Tax Policies
2. Research and Development Policy
3. Export Policy
4. Environmental Policy

A key to retaining competitiveness and attractiveness in the United States is to re-frame business policies with a focus on corporate taxes, research and development taxes and consistent application of policy regulations. This is vital to ensure that companies based in the United States are not hindered and that there is an environment where investment is seen as less risky in the United States than in other countries.

Containerized Trade and the Effect on Real Estate
Containerized trade is the engine that drives warehouse and distribution space. Goods flow from origins to destination buildings in ocean containers are measured in 20 or 40-foot equivalent units (TEUs). These containers are transferred from a ship to the terminal, and then loaded on a train or truck for local, regional or inland delivery.

Growth in containerized traffic is an indicator for creating new industrial demand. Total United States container volumes in 2008 were 42.7 million TEUs and declined to 37.2 million in 2009, which is a total net reduction of 13 percent⁴. Given a total estimated TEU capacity at United States ports of 64 million, there is significant latent capacity without adding new port infrastructure.

Historically, United States trade volumes track at 2.5 times the GDP or economic growth. Thus, findings suggest that containerized trade growth of 6-8 percent in the United States is in line with historic performances and expectations.

An important, but unknown, factor for East and West Coast ports is full comprehension of how much of a transition of all-water services from western ports to eastern ports has already occurred and how much "transfer" cargo still exists that could make the western-to-eastern coastal shift. According to an August 2009 Jones Lang LaSalle report, as much as 25 percent of current goods that flow to inland ports through western gateway ports could shift to eastern or Gulf Coast ports after the completion of the Panama Canal expansion. The authors of this report offer an alternative view and believe that much of the cargo that will shift from western ports to eastern ports has already done so. New ships that carry larger loads of cargo will have a more dramatic impact on the eastern ports, as ships with only regional capacity will be segregated from those with the necessary infrastructure to support the larger ships and will move goods efficiently and competitively both on a regional and national platform.

* Numerous citations are credited within the full report, available for download on www.naioprf.org.

---

¹ Anil Gupta, Smith School of Business, University of Maryland
² National Association of Manufacturing
³ United Nations Conference on Trade Development, World Investment Survey 2009-2011
⁴ American Association of Port Authorities

About the NAIOP Research Foundation:

The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations. The Foundation's core purpose is to provide these individuals and organizations with the highest level of research information on how real properties, especially office, industrial, retail and mixed-use properties, impact and benefit communities throughout North America. For more information on how to contribute or for complimentary research reports, visit www.naioprf.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., November 1, 2010 – NAIOP, the Commercial Real Estate Development Association, has named its 2011 leadership, led by S. Alex Klatskin, partner with Forsgate Industrial Partners, a private industrial real estate development and investment firm based in Teterboro, New Jersey. Klatskin will serve as chairman for the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate.

Klatksin accepted the leadership gavel from 2010 Chairman Lawrence Pobuda, partner with the Minneapolis-based Stewart Lawrence Group, during NAIOP's Development '10: The Annual Meeting for Commercial Real Estate, held recently in Orlando.

"NAIOP is privileged to have Alex leading the association next year as corporate chairman," said Thomas J. Bisacquino, NAIOP president and CEO. "His extensive involvement in the commercial real estate industry and his contributions to NAIOP are a tremendous strength, and we look forward to his astute and forward-thinking leadership throughout 2011."

Klatskin joined NAIOP in 1998 and has been extensively involved in the association. He is founder of the Family Owned Business National Forum, a governor for the NAIOP Research Foundation and a trustee and former chairman of NAIOP-PAC. He previously served as president of the NAIOP New Jersey chapter.

Outside of NAIOP, he is a roundtable member of the Real Estate Roundtable, a member of the Board of Regents of the American Architectural Foundation and serves on the advisory boards of Johns Hopkins University's St. John Department of Real Estate and the University of Maryland School of Architecture, Planning and Preservation.

Klatskin is a registered architect in New York, New Jersey and the District of Columbia, and a licensed planner in New Jersey. Earlier this year, he was recognized by the American Institute of Architects and elevated to its College of Fellows.

Executive Committee Leadership Named In addition to Klatskin, 10 NAIOP members and Bisacquino will lead the association as members of the Executive Committee. In their roles, these members will work with the corporate committees and NAIOP's corporate staff to plan and execute 2011's programs and activities.

Members of the 2011 Executive Committee are as follows:

Chairman-Elect
William Hunt
Elmhurst Group
Pittsburgh, Pa.

Vice Chair, Government Affairs
Gene Reilly
AMB Property Corporation
Boston, Mass.

Vice Chair, Education
Jean Kane
Welsh Companies
Minnetonka, Minn.

Vice Chair, Membership and Chapter Relations
Jonathan Tratt
Tratt Properties
Phoenix, Ariz.

Secretary and Vice Chair, Information and Research
Larry Lance
Alliance Commercial Partners LLC
Lakewood, Colo.

Treasurer
Greg Walz
Northwestern Investment Management Company
Milwaukee, Wis.

Immediate Past Chairman
Lawrence Pobuda
Stewart Lawrence Group
Minneapolis, Minn.

Chairman, Business Development Committee
Ashley Powell
RREEF
San Francisco, Calif.

Chairman, Industry Trends Task Force
Steve Martin
SDM Partners
Atlanta, Ga.

Chairman, National Forums Committee
Ralph Heins
Primera Companies Inc.
Dallas, Texas

For more about NAIOP, visit the online press room at www.naiop.org/pressroom.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., September 23, 2010 – Three keynotes addressing the impact of the economic and political landscape on commercial real estate will address the nearly 1,000 attendees expected to attend NAIOP's Development '10: The Annual Meeting for Commercial Real Estate, held October 27-29 at the Peabody Orlando in Orlando, Fla.

• Ed Gillespie, former Chair of the Republican National Committee and Counsel to President George W. Bush, will address the heated political situation leading up to the mid-term elections and how election results will impact a slowly recovering economy and future public policy.
• Mark Vitner, Senior Economist with Wells Fargo, will present an economic forecast for 2011 and discuss where the economy stands in terms of long-term recovery.
• Chris Lee, president of CEL & Associates, a noted real estate expert, will discuss the evolution of real estate cycles through history and illustrate new growth opportunities as a result of the current cycle.

"NAIOP recognizes the crucial role that a robust economy and favorable governmental policy plays in the well-being of our industry," said Thomas J. Bisacquino, NAIOP president. "The Development '10 keynote speakers will share their timely perspectives that will help our members make decisions and potentially shape the future of the industry."

Development '10 is presented by NAIOP, the Commercial Real Estate Development Association. It brings together commercial real estate development professionals from across North America for education sessions that focus on the topics impacting commercial real estate in today's transitioning market.

In addition to keynote addresses and exceptional education sessions, attendees get an insider's view of the UCF College of Medicine, state-of-the-art medical facility, as part of Development '10's Project Tour. Attendees will have an opportunity to get a ground-floor look at this innovative property, located at Medical City at Lake Nona. The optional bus tour will also point out some of Orlando's other distinctive properties along the tour route.

Media are invited to attend Development '10: The Annual Meeting for Commercial Real Estate at no charge, but must be pre-registered. To register, contact Kathryn Hamilton or (703) 904-7100. For additional conference information, or to learn more about NAIOP, visit www.naiop.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., September 21, 2010 – NAIOP, the Commercial Real Estate Development Association, today announced that it has selected two development companies as the recipients of its annual Sustainable Development Award.

For the first time, awards will be bestowed for one building renovation and one new construction.

• New construction: Vulcan Real Estate for Alley24 in Seattle, Wash.
• Building renovation: Pacific Plaza Development LLC for Pacific Plaza in Tacoma, Wash.

The award will be presented during a special ceremony on Thursday, October 28, at NAIOP's Development '10: The Annual Meeting for Commercial Real Estate, in Orlando.

"These projects symbolize the innovation, creativity and sustainable approach that our members are utilizing to develop model properties," said NAIOP President Thomas J. Bisacquino. "The Sustainable Development Award is one of many ways that NAIOP exemplifies its commitment to sustainable development. NAIOP and its member companies are strong proponents of energy efficiency and are committed to continuing to couple increased efficiencies with the overall prosperity of the industry."

Note: Detailed information about Alley24 and Pacific Plaza are available. Photos available upon request.

Vulcan Real Estate's Alley24: Building a Sustainable Community through Cooperation and Consensus
Alley24 is located on a two-acre urban infill site spanning a full city block in Seattle. The 362,000 square foot project converted dilapidated buildings and contaminated soils on a brownfield site into a lush, active, pedestrian-oriented urban environment. Separated by a public alley, the West block contains 172 apartments and two restaurants that incorporate a City landmark designated historic building, and the East block contains 180,000 square feet of office space, 23,000 square feet of retail space and a shared parking structure serving both sides of the block.

Alley24 East's office space was 90 percent pre-leased when it opened in February 2006, and the project's office and retail space is currently fully leased. More than 1,000 employees work onsite.

Alley24's sustainability measures are providing a much healthier environment for the building's tenants, increasing employee productivity and satisfaction, as well as significantly reducing operating and utility costs throughout the project's entire lifecycle. Skanska, one of the two largest office tenants, reported a 30 percent decrease in sick days in their first year of occupancy, and NBBJ (another anchor tenant) reported a 10.3 percent increase in net fee revenue per FTE (productivity per person) after moving into its new space from its previous location.

Alley24 East met its goal of diverting 80 percent of demolition and construction materials that would otherwise have ended up in landfills. Wherever possible, materials that were removed - such as old timber - were salvaged and reused elsewhere on the site as benches, loft stair treads and shelving. Project materials were selected for cost-effectiveness, local sourcing, low maintenance and authenticity, with at least 20 percent of the building materials utilized in the development manufactured in the Northwest region.

The combination of modern design and sustainable systems at Alley24 has helped set a green development standard for the City of Seattle and country, including achieving greater than 50 percent energy savings over the national baseline average for office buildings. Alley24 East achieved an ENERGY STAR score of 97 in its first year of operations, placing it in the top 3 percent of the national building stock in terms of energy efficiency.

Seattle-based Vulcan Real Estate offers a full range of services including development, urban planning, portfolio management, marketing and leasing, market research and appraisal, and financing. With 10 LEED Certified projects totaling 1.8 million square feet in its portfolio, Vulcan has developed more known New Construction and Core & Shell LEED Certified buildings than any other private developer in Washington State.

Pacific Plaza Development LLC's Pacific Plaza: A Successful Public/Private Partnership
Pacific Plaza has set a new benchmark of achievement for office and retail properties in downtown Tacoma. The nature of the public/private partnership between the City of Tacoma and Pacific Plaza Development LLC allowed for an overall development cost of $163 per square foot ($42 million total project cost), which includes renovation of a parking garage.

The project began in 2005 when the City of Tacoma solicited proposals from developer-led teams to revitalize the two garage parcels. Dubbed the "Tombstones of Tacoma" the two decaying parking structures were broadly considered civic eyesores. Pacific Plaza Development's proposal was selected as the only scheme that intended to adaptively reuse, rather than demolish, the existing structures.

Pacific Plaza added 35,000 square feet of high-end retail-ready street frontage, a completely renovated garage and three floors of new construction above the existing garage. The top two floors provide a combined 74,000 square feet of Class-A office space - the first infusion of such office space in the Tacoma market in a decade. The complete project is fully leased with a tenant mix of non-profit and private sector tenants, as well as state and federal agencies.

Pacific Plaza has obtained LEED Platinum Certification from the U.S. Green Building Council. The company estimates that more than $2 million in sustainable expenditures was invested by Pacific Plaza and the City of Tacoma toward achievement of this certification, comprising 5 percent of the total development cost.

The company utilized the expertise of the entire design and build team and choosing mechanical, electrical, envelope and structural strategies that minimized the project's reliance on energy, materials and water. Product decisions were made with the intent on maximizing value and using recycled content and regional materials as appropriate, while minimizing waste and resource consumption.

All products used at Pacific Plaza meet LEED thresholds for low-emitting materials, with the primary focus on carpets and flooring, paint, sealants and adhesives, and composite woods, with the value of recycled products at 36 percent of total construction value. Twelve percent of construction value was harvested, manufactured and transported within 500 miles of Tacoma.

The integrated disciplines and approach of the Pacific Plaza team resulted in an innovative building and a cost-effective solution for Washington State's first LEED Platinum Core and Shell project. Pacific Plaza Development LLC made a commitment to environmental stewardship and civic leadership from its inception.

2010 Marks Sixth Annual Award for NAIOP
NAIOP established the Sustainable Development Award in 2005 to recognize the growing number of firms engaged in green development. NAIOP and its member companies are committed to developing model properties adhering to the highest standards in the industry and believe that socially conscious development is essential to the economic vitality of the industry.

Applicants were judged on a number of criteria, including company commitment to sustainability, project history, economic analysis, water efficiency, energy efficiency, accessibility, innovation and other sustainable attributes. Entries for the award were reviewed by industry leaders.

In 2010, the Sustainable Development Award is sponsored by NorthMarq. NorthMarq provides commercial real estate services for investors, developers, corporations and tenants. It offers mortgage banking and commercial loan servicing in 32 offices and property management of commercial space in 22 markets, along with corporate services, brokerage and investment sales.

Previous recipients of the award include: (2009) ProLogis for its sustainable distribution center for S. C. Johnson & Son, Inc., and Forest City Covington for its office building that houses Fidelity Investments at Mesa del Sol; (2008) Aardex LLC of Golden, Colo., for its speculative project, The Signature Centre, and Hamilton Partners its build-to-suit project, HSBC-North America Headquarters, in Mettawa, Ill.; (2007) the Georgetown Company, New York, N.Y., for their speculative project, the Lazarus Building, and Liberty Property Trust for the build-to-suit JohnsonDiversey project in Milwaukee, Wis.; (2006) Hines for their project at 1180 Peachtree in Atlanta, Ga.; and (2005) Corporate Office Properties Trust for its development at 318 Sentinel in Annapolis Junction, Md.

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 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., September 15, 2010 – Fifteen commercial real estate professionals have been named as recipients of the 2010 Developing Leaders Award, presented by NAIOP, the Commercial Real Estate Development Association.

The Developing Leaders Award is an annual award bestowed upon up-and-coming professionals who have distinguished themselves in their profession and show great promise as future leaders of the commercial real estate industry.

The recipients of the 2010 Developing Leaders Award are:

• Justin Beck - President, Beck Property Company Inc., Pensacola, Fla.
• Dana Berggren, LEED AP, CCIM - Vice President, Commerce / Cushman & Wakefield, Las Vegas, Nev.
• Apollo Carey - Attorney, Sandberg Phoenix & von Gontard PC, St. Louis, Mo.
• Ryan Egli - Senior Associate, CB Richard Ellis, San Diego, Calif.
• Erica-Nicole Harris - Project Manager, WISPARK LLC, Milwaukee, Wis.
• Malcolm Johnson - Vice President, Global Corporate and Investment Banking, Bank of America Merrill Lynch, Los Angeles, Calif.
• Jeff Kroll - Vice President of Real Estate, Frontier Renewal, Denver, Colo.
• Jaime Northam - Regional Asset Manager, Healthcare Trust of America Inc., Scottsdale, Ariz.
• Matthew O'Malley - Preconstruction Executive, Clark Construction Group LLC, Bethesda, Md.
• Trevor Sawatzky - Asset Manager, GWL Realty Advisors, Calgary, Alberta
• Joshua Skarsgard, Esq., C.P.A. - Founder, The Skarsgard Firm P.C., Albuquerque, N.M.
• Jennifer Turchin, NCARB, AIA, LEED AP - Senior Project Manager, Energy & Environmental Solutions (E2), Las Vegas, Nev.
• Jamison Weinbaum - Director/ D.C. Office of Zoning, Washington, D.C.
• Kenneth Wire - Associate, McGuireWoods LLP, Washington, D.C.
• David Young - Senior Associate, Morrison Commercial Real Estate, Orlando, Fla.

NAIOP President Thomas J. Bisacquino spoke of the importance of the Developing Leaders Award, stating, "The Developing Leaders program advances NAIOP's agenda and enhances our diversity by acknowledging and encouraging the involvement of these accomplished young professionals who will lead our organization and the commercial real estate industry into the future."

Recipients of NAIOP's Developing Leaders Award will be celebrated at Development '10: The Annual Meeting for Commercial Real Estate, where they will benefit from unique networking opportunities and publicity surrounding the award. Development '10, which takes place October 27-29 in Orlando, features three days of education, interaction and events all tailored to help NAIOP members achieve success.

In an effort to engage and encourage up-and-coming young commercial real estate professionals, NAIOP established the Developing Leaders Award in 2006. The honor was designed to engage tomorrow's leaders and connect them with NAIOP's increasing education and benefits available to new and developing professionals.

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 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., September 8, 2010 – NAIOP, the Commercial Real Estate Development Association, today announced that The Alter Group has been selected as the 2010 Developer of the Year.

The Alter Group has developed more than 100 million square feet of prime build-to-suit and speculative office and industrial space throughout its 55-year history. Currently, the company has 4 million square feet of ongoing development, including sustainable, high-image office and industrial buildings for major corporations, in addition to healthcare campuses and student housing - the two sectors most critical to the nation's economic recovery, according to the Obama administration and Congress.

"The Alter Group's diverse business practices and position as an industry leader are evidenced by its ability to outperform no matter what the real estate cycle," said Thomas J. Bisacquino, NAIOP president. "NAIOP is proud to recognize The Alter Group for its development of outstanding projects and its ability to extend its company's practices to capitalize on opportunities and meet the demands of today's markets."

NAIOP will present the 2010 Developer of the Year award to Michael Alter, The Alter Group's president, and other members of the Alter team on Thursday, October 28, at NAIOP's Development 10: The Annual Meeting for Commercial Real Estate in Orlando, Fla.

Since 1979, the Developer of the Year award has been presented annually to one member-developer company that best exemplifies leadership and innovation in the commercial real estate industry. It is determined by a selection committee of industry peers, using six criteria to evaluate entries: industry and business leadership; involvement in NAIOP; quality of products and services; financial consistency and stability; ability to adapt to market conditions; and social consciousness. Past winners of the award include Highwoods Properties; Liberty Property Trust; Ryan Companies; Bentall Capital; ProLogis; Colonial Properties Trust; and Lowe Enterprises.

Diversity in Products and Strategic Outlook
The Alter Group has remained an industry leader with its commitment to its core beliefs: real estate must hold to solid fundamentals; credit has to be based on real value; underwriting should assure the stability and viability of the asset over the long term for the client; and a strong cash position is critical to deal with the shifting marketplace and to inspire confidence in employees, customers and the capital markets.

The company has a track record of anticipating changing business environments with a strategic approach that prepares for the contingencies of the market. The Alter Group anticipated difficulties in the capital markets and, in response, sold assets to build up the company's cash reserves, including a $100 million portfolio sale in 2000.

Diversification in products and services has established The Alter Group in positions of leadership throughout the industry. The company has established new affiliates to fill market niches, including:

Alter Asset Recovery, providing expedited solutions for lenders and investors with distressed properties.

Alter Construction Management, providing program management services for major construction projects through the country.

Alter Asset Management, providing third-party property management and leasing services for institutional, corporate and private investors as well as for Alter's 17 million SF national portfolio.

EnTrust Realty Advisors, providing disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing.

Alter 360°, providing turnkey real estate brokerage representing small-to medium sized business owners and private real estate investors and owners.

The Alter Group was one of the first developers to commit major resources to develop in the two product categories that have best withstood the recent economic downturn: healthcare and student housing.

Almost 15 years ago, the company created a dedicated healthcare affiliate, Alter+Care, to specifically bring its expertise in building world-class facilities to a sector that previously relied on independent consultants and contractors. Alter+Care finances, designs, develops and owns major medical office buildings and outpatient campuses that enable hospitals to deliver better medical and financial outcomes. Since 1996, Alter+Care has developed more than 1 million square feet of outpatient healthcare facilities.

The company's entry into student housing was the redevelopment of a 147,000 square foot dormitory in Chicago. To reach its millennial tenant population, The Alter Group created a social media platform utilizing a mix of online collateral, pay-per-click advertising and interactive Web capabilities to offer innovative virtual tours and a new-media leasing process. This highly creative approach was key in the marketing and successful leaseup of the dormitory rooms. The marketing of Fornelli Hall demonstrated The Alter Group's leadership in creative leasing strategies and deploying the latest technology, including social media; the company currently draws more than 10,000 people a week to its blog and podcasts.

Additionally, the company is committed to incorporating green design initiatives and environmentally sensitive efficiencies into its buildings, currently retrofitting buildings with higher energy efficiency systems. Through its developments, The Alter Group has made a compelling case for how green technology lowers insurance premiums and energy costs, conduces to healthier and more productive tenants, and benefits the surrounding community.

The company was an early adopter of energy-saving technologies predating the sustainability movement. As early as the 1970s, the company incorporated mechanical systems into buildings which were designed to take advantage of outside air to cool the interior in mild weather conditions. It was also a pioneer in heavy landscaping, using trees to cut down on the heat-island effect. The company has worked hard to improve indoor environmental quality by using low-emitting paints and flooring, as well as providing more individual control over lighting and mechanical systems. On new projects, it uses white roofs; installs fewer parking lot lights to avoid light pollution; builds close to public transportation whenever possible; and uses water-efficient landscaping, innovative wastewater technologies and water-use reduction systems. It also recycles all construction debris. The company has seen its buildings achieve better tenant retention and, ultimately, lower cap rates by virtue of its green building program. The Alter Group is a member of the U.S. Green Building Council.

The company's traditional products -- office and industrial -- remain strong components of The Alter Group's overall portfolio. In addition, it is a leader in mixed-use development: its latest project is one of the country's largest mixed-use developments, Cornerstone in Grayslake, Ill. The development of the 650-acre parcel will result in 3.5 million square feet of light industrial/office space; 600,000 square feet of restaurants, shops and entertainment; and 800 homes - yielding 9,000 jobs within the project and an additional 7,000 supporting jobs within Lake County, Ill.

Social Consciousness
The Alter Group's spirit of social responsibility runs deep within the company, evidenced not only in the company's commitment to sustainable development, but within its involvement with AmeriCorps, a national service organization uniting diverse young professionals, to its support of minority-owned businesses, including affiliate EnTrust Realty Advisors, one of the country's few minority-owned investment advisory firms.

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 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

About The Alter Group

The Alter Group is a national corporate real estate development firm of office, industrial and healthcare facilities. Additionally, the firm provides comprehensive services in brokerage, construction, investment services, and property and asset management.

Founded by William A. Alter in 1955, The Alter Group has developed approximately 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. This year, the company has 4,000,000 SF of space, worth $600,000,000, under development in national markets. The firm was recently ranked as # 3 in the National Real Estate Investor survey of America's top office developers. Information at www.altergroup.com.

HERNDON, Va., July 8, 2010 – NAIOP, the Commercial Real Estate Development Association, is bringing its annual real estate conference to the Peabody Orlando from October 27-29, 2010. Development '10: The Annual Meeting for Commercial Real Estate will bring together commercial real estate development professionals from across North America for education sessions focusing on the topics impacting commercial real estate in today's transitioning market, along with numerous opportunities to network with other industry leaders from all sectors of the industry. Some of the most notable leaders in commercial real estate will share their experiences in meeting the challenges of the economic downturn and formulating new strategies to adapt to a changing economy via panel discussions and the popular CEO Insight series.

Two of the education sessions, A View from the Top: CEOs Reflect on the Changes in Commercial Real Estate and Top Broker Strategies on Repositioning for the Recovery, will feature invaluable perspectives from the CEOs of industry-leading companies AMB Property Corporation, Cushman & Wakefield, EastGroup Properties, FPL Advisory Group, Jones Lang LaSalle, Liberty Property Trust, Marcus & Millichap, USAA Real Estate Company and Welsh Companies. Development '10 will also spotlight four industry pioneers who will share their experiences, lessons learned through the challenges of the past two years and vision for the future through the CEO Insight series. Dennis Doyle (Welsh Companies); James Heistand (Eola Capital); James Jacoby (Jacoby Group); and Mats Johansson (Skanska USA Commercial Development Inc.) will speak about their experience at the helm of their respective companies in a candid and informal setting

Development '10 will also feature three distinguished keynote speakers who will provide their individual and timely viewpoints on the changing political issues and the state of the economy, along with their impacts on the commercial real estate development industry. Ed Gillespie, former Chair of the Republican National Committee and Counsel to President George W. Bush, will share his views on what the current political climate means for the American economy. Mark Vitner, Senior Economist with Wells Fargo, will present an economic forecast for 2011 and explore the current state of the commercial real estate market. Lastly, noted real estate expert Chris Lee, president of CEL & Associates, will discuss the evolution of real estate cycles through history and illustrate new growth opportunities as a result of the current cycle.

"NAIOP recognizes the challenges facing commercial real estate professionals and their need for the most up-to-date information in today's transitioning economy," said Thomas J. Bisacquino, NAIOP president. "This year Development '10 is proud to feature some of biggest leaders in the industry who will provide invaluable insight and personal experience on successfully doing business and recognizing new opportunities in a rapidly-changing market."

In addition to leading-edge education and keynote sessions, attendees can also get a glimpse into a state-of-the-art medical facility, UCF College of Medicine, as part of Development '10's Project Tour. Attendees will have an opportunity to get a ground-floor look at this innovative property, located at Medical City at Lake Nona. The optional bus tour will also point out some of Orlando's other distinctive properties along the tour route.

Media are invited to attend Development '10: The Annual Meeting for Commercial Real Estate at no charge, but must be pre-registered. To register, contact Kathryn Hamilton at hamilton@naiop.org or (703) 904-7100. For additional conference information, or to learn more about NAIOP, visit www.naiop.org.

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 15,500 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., May 28, 2010 – Thomas J. Bisacquino, president of NAIOP, the Commercial Real Estate Development Association, issued the following statement following the House of Representative's passage of the "American Jobs and Closing Tax Loopholes Act" (H.R. 4213) . This legislation changes the treatment of taxation on carried interest compensation, severely negatively impacting many partners in real estate development ventures:

"NAIOP and members of the commercial real estate development industry are deeply troubled by Congress' actions to further damage the recovery of the nation's economy by significantly increasing the taxes paid by real estate partnerships. The passage of this legislation was done without the full consideration of the resulting harmful impact to one of the largest contributors to the nation's GDP.

On Friday, May 28, the House of Representatives passed a bill that changes the tax treatment of "carried interest" income from its current treatment as capital gains (at 15 percent) to a mix of capital gains and ordinary income. Beginning in 2011 through 2013, carried interest will be taxed 50 percent as capital gain; 50 percent as ordinary income. Thereafter, carried interest would be taxed at 25 percent capital gains, and 75 percent ordinary income.

This significant tax increase is inflicted upon non-guaranteed income resulting from real estate partnerships. At a time when the real estate industry and the nation's economy are struggling, this is a severe blow to entrepreneurs who would otherwise be contemplating undertaking new deals - ultimately the source for much of the industry's job creation. Candidly, many development projects will now not be taken on due to this legislation.

NAIOP will continue the important work of ensuring that members of Congress better understand the importance of a healthy real estate economy. NAIOP members have been extremely active in this fight, writing thousands of letters and communicating with elected officials. These efforts are not in vain and will simply augment NAIOP's continued strategy to protect the interests of commercial real estate.

A healthy real estate economy is vital to a prosperous U.S. economy and produces an immense ripple effect with job creation and personal earnings that quickly roll over into increased consumer spending. Before the most recent economic downturn, total real estate construction spending reached $1.16 trillion - approximately 8.5 percent of the nation's Gross Domestic Product. Commercial development supports 4.89 million full-time equivalent jobs in the United States and generates personal earnings of $170.1 billion."

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., April 20, 2010 – In response to shifting demographics among the commercial real estate industry, NAIOP has created a Developing Leaders (DL) Diversity Task Force. The group will examine diversity's role in the development industry and how NAIOP can further expand its efforts in support of various initiatives towards its mission of advancing responsible commercial real estate development.

The DL Diversity Task force comprises 13 NAIOP DL members, aged 35 and under. It is led by co-chairs Megan Creecy, leasing and development manager with EJM Development Co. in Scottsdale, Ariz. and Erica-Nicole Harris, project manager with WISPARK, LLC in Milwaukee, Wis.

Creecy and Harris directed the task force in promptly establishing a mission statement to guide their diversity objectives and future projects: "The Developing Leader Diversity Task Force facilitates the development of strategies and ideas to position NAIOP and the commercial real estate industry to attract and engage members that are diverse and reflective of the communities in which we work and live."

"NAIOP steadfastly supports diversity within our industry," said Thomas J. Bisacquino, NAIOP president. "We are committed to shining a spotlight on diversity and supporting women, minorities and younger generations as they increase in numbers and flourish in our industry. I'm proud of the work that the DL Diversity Task force is committing to this important business and cultural issue."

Diversity and inclusion are significant to NAIOP members and the commercial real estate industry because:

• Diversity increases the ability to effectively compete and respond to the changing demographics of decision makers.
• Commercial real estate yields greater innovation with diverse teams.
• Greater diversity ensures that the future of commercial real estate will gain talented individuals representing a wide variety of backgrounds.
• Businesses need to reflect the global nature of today's commercial real estate industry.
• Clients are diverse themselves and thus value diversity from their vendors.

The DL Diversity Task Force convened for the first time during NAIOP's Chapter Leadership and Legislative Retreat in Washington D.C., with a second meeting planned in April during NAIOP's National Forums Symposium in San Francisco. In addition, task force members will continue to meet monthly via conference calls.

For further information about the DL Diversity Task Force and its work, please contact Sarah Milans, marketing manager, at (703) 904-7100 or milans@naiop.org.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., February 22, 2010 – NAIOP, the Commercial Real Estate Development Association, honored several NAIOP chapters for their outstanding achievements during its annual Chapter Merit Awards ceremony, held in Washington, D.C., on February 2.

Nearly 120 nominations were received by NAIOP for chapters in the small, medium and large division category, as well as recommendations for chapter of the year and outstanding performance by a volunteer, chapter executive and chapter president.

"NAIOP has a long tradition of honoring its chapters, and this year's event was no exception," said Thomas J. Bisacquino, NAIOP president. "Every nomination this year was excellent, and our volunteer panel of judges were challenged to narrow down the award winners. On behalf of the association, I congratulate each and every nominee, and offer special recognition to the 25 chapters who were honored during our celebration."

The following is a list of NAIOP Chapter Merit Award winners:

Chapter of the Year - honors a chapter in each category for their outstanding work, participation and achievements. The winning chapters each receive a $1,000 education grant to further educational programming on the local level, as well as a trophy that is displayed in NAIOP's corporate office and the chapter's local office.

• NAIOP Oregon (small chapter winner)
• NAIOP New Mexico (medium chapter winner)
• NAIOP Minnesota (large chapter winner)

Special Awards

• Outstanding Contribution by a Chapter Executive: Kathie Barstnar, NAIOP Colorado
• Outstanding Contribution by a Chapter President: Richard Lechtman, NAIOP New Work City
• Volunteer of the Year: Gordon Hess, NAIOP San Francisco Bay Area

Annual Publication

• NAIOP Tulsa : Tulsa Commercial Properties
• NAIOP Inland Empire: NAIOP Inland Empire
• NAIOP Arizona: Supplement in Arizona Commercial Real Estate Magazine

Branding

• NAIOP Greater Toronto
• NAIOP San Francisco Bay Area

Community Service

• NAIOP San Diego: "Adopt a Marine Buddy" Program
• NAIOP Central Florida: Real Estate School at University of Central Florida
• NAIOP Update New York: Habitat for Humanity Event

Developing Leaders

• NAIOP Minnesota: DL Membership Growth and DL Committee
• NAIOP Central Florida: Development 101 Series and DL Programs
• NAIOP Northern Ohio: DL Membership Growth and DL Events

Education

• NAIOP Colorado: Annual Real Estate Challenge
• NAIOP New Mexico: Annual Seminar on the State of the Markets
• NAIOP Connecticut & Suburban New York: Developer Showcase Programs

Legislative/Government Affairs

• NAIOP New Jersey: Chapter Advocacy Fund, Legislative Programs and Stateside Jobs Initiative
• NAIOP New Mexico: Chapter PAC and Legislative Successes
• NAIOP North Carolina Piedmont Triad: Legislative Coalition

Membership

• NAIOP Washington State: Membership Retention Program and Targeted Prospecting
• NAIOP New York City: Chapter Awareness and Membership Growth

Periodical Publication

• NAIOP New Jersey: WeekEnder Brief: News for NAIOP New Jersey Leaders
• NAIOP Vancouver: Annual Municipal Survey

Special Events

• NAIOP Georgia: School Challenge Program
• NAIOP Southern Nevada: Annual Spotlight Awards
• NAIOP San Francisco Bay Area: Real Estate Challenge Program
• NAIOP Northwest Florida: Event to Raise Funds for Statewide Organization

Sponsorship Program

• NAIOP SoCal: Corporate Sponsorship Program
• NAIOP Nashville: "Season Pass" Corporate Sponsorship Program
• NAIOP Hawaii: Corporate Sponsorship Program

Sustainability Program

• NAIOP Colorado: ResourceSmart Colorado
• NAIOP New Mexico: Sustainability Seminars and Governor's Blue Ribbon Task Force

Technology

• NAIOP North Carolina Piedmont Triad: Chapter Web Site
• NAIOP San Francisco Bay Area: Chapter Web Site
• NAIOP Colorado: Integrated Communications

Chapter Leadership and Legislative Retreat Brings NAIOP Leaders Together
The Chapter Merit Awards are a traditional highlight of the association's Chapter Leadership and Legislative Retreat, which brings together more than 265 chapter leaders and executives representing NAIOP's 56 chapters throughout the United States and Canada.

This annual gathering provides exceptional education sessions and the opportunity to network with chapter leaders from across the country. The educational sessions are broken down into concurrent sessions focusing on the specific chapter roles of each attendee. This year's sessions focused on Leadership, Government Affairs, Management and Membership.

Attendees join together for keynote sessions throughout the event. Keynotes at this year's conference included political analyst Charlie Cook; Dr. Ann Atkinson from Atkinson & Associates LLC; and Chairman of the National Republican Senatorial Committee, Senator John Cornyn (R-Texas).

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.

HERNDON, Va., February 18, 2010 – NAIOP, the Commercial Real Estate Development Association, recently unveiled The Center for Education, the primary source for exceptional industry education for today's busy commercial real estate professional. The Center for Education offers first-rate education developed to teach the core competencies that NAIOP members have identified as being essential to success.

"The Center for Education offers an integrated source for world-class continuing education," said Thomas J. Bisacquino, NAIOP president. "This innovative center was created for professionals involved in all aspects of commercial real estate who are pursuing comprehensive industry education to give themselves a competitive advantage in today's market."

A wide range of programs on relevant topics - from development to finance to construction management - will be offered through The Center for Education in both live online formats, as well as the traditional classroom setting, to accommodate individual learning styles and preferences.

In 2010, these programs will be presented in the form of eight NAIOP courses, 14 Education Webinars and six adapted courses available through NAIOP's Chapter Education Partnership. The Center assigns an educational credit value for all of its offerings, and these values are measured in the form of both Professional Development Hours (PDH) and Continuing Education Units (CEU). NAIOP is also a registered provider of Learning Units (LU) through the American Institute of Architects' Continuing Education Service. In addition, programs are structured to accommodate individual learning levels, from introductory to expert and are open to NAIOP members and non-members.

For those wanting to pursue a more rigorous path of continuing education and enhance their professional standing, The Center for Education also offers participants the option of earning two certificates to confirm completion of the challenging curriculum of core courses. Students can pursue an Advanced Certificate of Study in Commercial Real Estate Development through NAIOP by completing 73 hours of study via a planned curriculum of core courses, electives or Chapter Education Partnership courses and Webinars. Another certification is available through NAIOP's Online Executive Graduate Certificate program, held in partnership with the University of Denver.

For more information on The Center for Education, including a complete listing of course and Webinar offerings, visit www.naiop.org/thecenter.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, www.naiop.org.

HERNDON, Va., January 21, 2010 – NAIOP today announces its Four-Point Promise.

The Promise captures the specific steps NAIOP will take in 2010 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. "The obstacles - frozen capital sources, a turbulent global economy and the decline in transactions and employment - are beginning to show signs of improvement, yet their sustained impact will yield a considerable recovery period. In difficult times, NAIOP members need their association more than ever."

In 2010, NAIOP will:

1. Seek Solutions to the Credit and Capital Crisis
   NAIOP's government affairs team will continue to work for public policy solutions that increase capital sources, create jobs and assist commercial real estate in its recovery. In addition, NAIOP maintains a Commercial Credit and Capital Advisory Board of experts to interpret trends and advise members on strategies for accessing capital.
   
   
2. Provide Critical Education and Information
   NAIOP has expanded its array and delivery method of industry education to include online courses and Webinars, chapter-delivered programs and traditional, live courses and conferences. NAIOP will continue its popular online "Solutions Series" briefings that offer real-time viewpoints and practical strategies about industry trends, opportunities and strategies.
   
   
3. Identify Innovation and Trends that Yield Opportunity
   NAIOP will share news on innovation, positive trends and key strategies that will advance the industry via member communications and the NAIOP Web site. The NAIOP Research Foundation will continue to produce forward-looking studies and vital reports that identify future development opportunities, assess employment trends and reveal the vital role commercial real estate plays in the economy.
   
   
4. Protect the NAIOP Member Advantage
   NAIOP is offering complimentary membership to long-standing NAIOP members who become unemployed, while they are seeking employment within the industry. Additionally, NAIOP will dedicate resources to support Developing Leader members (members age 35 and less) and strengthen the chapter structure so that members are afforded local, regional and North American networking and education opportunities.

"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.

A video message from Bisacquino and the full text of the Promise are available online.

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 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.