The beginning of 2011 is giving us new hope that the commercial real estate market, which has been limping back from a terrible fall, might actually get into a full stride quite soon.
Capital and credit have eased significantly, absorption in most markets has stopped moving negative and there are signs of life in the ashes. As our own companies regain their balance and confidence, we should look to the people and things that have been the most helpful during the past few years of discomfort.
During that time we quickly learned which one of our vendors and customers were stable and which ones were precariously situated. We also learned which organizations kept their promises and provided us with wisdom and forward-looking guidance during the terrible storm. I believe that NAIOP is one of those organizations and I am honored and humbled to be chosen to lead it in 2011.
During the downturn of the past few years, NAIOP has provided its members with valuable tools and information to make their businesses perform as well as possible. There have been excellent networking opportunities to meet the people who are doing the few deals that may be in any particular market. If there was a deal in the market, it was also in the room at NAIOP.
Rewarding educational opportunities continued to be offered. These events helped us all keep abreast of the leading trends and movements in the markets so that we could continue to be sharp and on point in a quickly changing environment.
NAIOP also continued with full force and conviction with what I believe is the most important thing we do: advocacy. Most chapters, and of course NAIOP Corporate, have not let up their advocacy on the legislative and regulatory issues that could be a detriment to our industry. They are constantly reviewing ideas that come from our informed members in order to encourage legislation that will benefit our industry. The advocacy team has been relentless and we should admire them for that. These are the reasons I think NAIOP has been a valuable resource and a committed partner to our businesses.
As I have the pleasure of travelling around North America this year to visit many chapters, I look forward to meeting NAIOP members and learning more about the individual markets and the NAIOP leadership in those markets who make us what we are.
Each one of us can learn something from the business practices in other locations. While some of us are with companies that practice all over the country and some may only do business in one market, real estate is often a local business, conducted and invested in on a national stage.
If there is something happening in your market that might benefit the rest of the membership, please share it. If there is something that we can do better as an organization, also let us know. Thank you for your confidence in me as 2011 Chairman — I look forward to visiting as many members as possible.