at the May Breakfast Meeting:
C-Suite View: A discussion with national decision makers
President-Elect, Dwight Bell (President/CEO, Cannon Equities) began the meeting by introducing NAIOP GA Advisory Council member and Ron Clark Academy board member, Jeff Mixson, and NAIOP GA Executive Director, Debbie Koenig, for a special presentation about NAIOP’s work with the Ron Clark Academy. Attendees were treated to a moving speech by former RCA student, Jalil Allah, who was accompanied by his mother, Nadege Allah-Delva. Jalil was the recipient of NAIOP’s first-ever Xtreme Dream Room Makeover, and he excelled at the Ron Clark Academy after that amazing transformation. Jalil then went on to succeed and graduate from high school with ROTC honors.
Chris Riley (Vice Chairman, CBRE) moderated as the panelists commented on a wide array of topics from talent to challenges, how information has changed our industry and the opportunities for firms, big and small. Here are some highlights:
Donald Miller, CEO & president of Piedmont Office Realty Trust, said that it’s hard not to be bullish in the Atlanta office market. Don commented that our market was late to the game, so we’re still catching up – but in order to stay competitive, we need to improve our regional planning standpoint. He also mentioned three major changes in what his firm is doing, including path of travel, increased parking and re-positioning their portfolio to be closer to 24-7 live, work, play environments.
Gene Reilly, CEO, The Americas, Prologis, commented on how much talent has changed. Gene said that you no longer just need to be a ‘real estate person,’ but you need to understand culture and human resources to be successful. Gene noted that the leasing market was white hot, and there’s an opportunity for rent growth. He’s bullish about Atlanta and thinks it still has excess capacity for development talent.
Michael Dardick, president and CEO of Granite Properties said some of the qualities for achieving success in our industry include believing in people and wanting to grow others in the industry, along with humility, curiosity and keeping a learning orientation your whole life. Looking through history, each cycle comes every 7 years, so if history repeats itself, we should have another 2 years left in this cycle. While office still has massive supply in several markets, Michael is also bullish about Atlanta.
Jay Cornforth, global head of industrial at Brookfield Property Group and CEO of IDI Gazeley Brookfield Logistics Properties said he believes we’re in the 2nd period of a 3-period hockey game; he said that while we’re still catching up to 2007, we’ve destroyed a lot of value on the way. We’re seeing ramp up in supply, but we still have a couple years of rent growth. Jay advised the crowd to be prepared for the next downturn – be well capitalized and be on the offense. Because of all the land in Atlanta – in all directions – and because Atlanta lagged in its recovery, there is still demand for industrial.
Click here to view Part 1 of the program.
Click here to view Part 2 of the program.