Philadelphia Chapter NEWS Advancing Corporate Real Estate Summer 2012 Chapter Members Plan for 2012-2013 Make the most at PECO Economic Forecast Breakfast of your membership… volunteer today! Active members of the Philadelphia Chapter will tell you that peer-to-peer networking On April 18, the Chapter Education Committee provided a look into real estate and gaining value from the chapter starts strategies for 2012 and what to expect in the next 12-18 months. The event, hosted at the committee level. There are many by PECO and moderated by Daniel Fishbein, SLCR, featured presentations by: opportunities to participate no matter how • Kevin Gillen, PHD, Vice President and Economist at Econsult Corp much (or how little) time you have to give, so please contact a Committee Chairperson • Bob Walters, Executive Managing Director, CBRE and get started! • Dennis Cronin, Chief Operating Officer, Steel Orca Young Leaders: This group is focused on identifying potential members new to the • Phil Eastman, Manager of Economic Development, PECO industry (35 years old and younger) to help them get a jump start on their professional Gerald O’Brien, Vice President, Real Estate, Comcast Cable Communications development while establishing a forum for welcomed close to 90 chapter members and guests who attended the Forecast as continuing education, mentoring and social President of CoreNet’s Philadelphia networking. Chapter. The program provided Communication: The team works to an opportunity to learn more develop positive exposure and awareness about the most pressing real estate about the CoreNet Global Greater decisions facing end users today Philadelphia Chapter by writing press and how those decisions are best releases, taking photos at events, writing handled within our ever-changing continued on page 5 economic landscape. Topics of discussion included: Economic trends and their impact on real estate market; macro and micro office and industrial market Don’t Miss These Events! trends; trends in data center usage and development and economic July 12: Campbell Soup Company importance; and economic Program and Tour development in Philadelphia and Chapter President Jerry O’Brien with July 26: Summer White Party the Delaware Valley region. Comcast Cable, J.J. Broderick with Morgan, Lewis & Bockius LLP and guest Sept. 10: CoreNet/NAIOP Annual Golf Outing Visit the events section of the chapter 2. President’s 4. Annual In This 3. White Party 6. Sponsors website for more information and to register. Issue Letter Golf Outing Letter from the President Happy Summer! It’s about 100 degrees as I write this note. Thankfully, we moved our Summer Solstice\White Party back to the cooler temperatures of July instead of tonight. Whew….better to be lucky than good. Here we are halfway through the year and it’s flying by. The chapter continues to have a great nucleus of members who dedicate their time and talents to our success. Your efforts promote the fellowship and learning environment that CoreNet provides all of us. Our focus this year is on two areas where we seek improvement – membership and sponsorship. Our committees need your help in referring and recruiting people and companies that look to get more involved through these avenues. We want to be the place to be for corporate real estate in Philadelphia. A couple of recent highlights include the Boston Eastern Regional Symposium attended by 30 chapter members. The annual ERS always presents relevant educational and topical programs. We have put our name in contention to host the ERS again in Philadelphia 2013. Our Young Leaders continue to put on excellent programs to include the recent speed mentoring event, and we had two great educational sessions at PECO and Morgan Lewis during the spring. In July we have two exciting events coming up. On the educational front, we’ll be at Campbell’s Soup in Camden, NJ on July 12 for an enlightening program about their corporate HQ. On July 26 we have what promises to be the real estate fiesta of the summer - our Summer White Party. Our Special Events Committee has planned a first class event at Water Works that will feature a band, great food, and of course libations. Make plans to be there and bring a guest- it is going to be fun. Looking to the future, we have our golf outing on September 10 in partnership with NAIOP, so get out there and work on your game. Everybody have a great summer, and I look forward to active participation in our upcoming events! Best regards, Gerald O’Brien Vice President, Real Estate, Comcast Cable Communications President, Greater Philadelphia Chapter, CoreNet Global Philadelphia Executive Committee Greater Philadelphia Chapter Chapter President: Jerry O’Brien • Comcast Cable Executive Vice President: Gerry Guidice • TD Bank Secretary: Jonathan Grosser • Stradley Ronan Stevens & Young Treasurer: Bob Clements • Newmark Grubb Knight Frank NEWS Past President: Ken Zirk • CBRE CoreNet Global • 133 Peachtree Street, N.E., Suite 3000 • Atlanta, GA 30303 Summer 2012 Attendees Learn Why Lease Execution Takes Forever On May 10th close to 60 chapter members and guests gathered at Morgan Lewis & Bockius LLP to explore current market reasons for lease execution delay. Lisa Westerfield with Structure Tone moderated a panel of industry leaders including JJ Broderick with Morgan, Lewis, Bockius LLP; Jerry O’Brien with Comcast; Ron Cariola with Jones Lang LaSalle; and Peter Stevens with CBRE as they discussed conflicting tenant and landlord perceptions of the market and the essential, but complicated role of the lender. Different strategies to expedite lease execution were explored on a business and legal level. Special Lisa Westerfield with Structure Tone and Thanks to Morgan Lewis LLP for Chapter President Jerry O’Brien with Comcast Cable sponsoring this event! John Bullen with Comcast Cable and Matt Knowles with CBRE Young Leaders Make Connections at Speed Mentoring Event Speed mentoring session You’re invited to join the Greater Philadelphia Chapter of On May 23, the Young Leaders committee of the CoreNet Global CoreNet Global as we celebrate summer! Join us on July Greater Philadelphia Chapter held the Second Annual Speed 26th at Water Works, Philadelphia’s Landmark Restaurant. Mentoring Event. With a tremendous turn-out of nearly 40 Guests will nosh on delicious food and drinks, while attendees, including Philadelphia’s top real estate luminaries and enjoying the cool sounds of David Brodie Jazz overlooking young professionals, the event offered ample opportunities to the river under the Grand Pavilion. Please come in your make new connections. Offering decades of experience in the brightest white attire to kick off the summer season! The real estate industry, mentors shared career advice in one-on- price per ticket is $75/Members and $99/Non-Members. one conversations with mentees. “As expected the 2012 speed Guests and spouses are welcome to attend! mentoring event was better than ever. It provided me a wonderful opportunity to meet some of Special thanks to our event sponsors: Newmark Knight commercial real estate’s most Frank Smith Mack, The Sullivan Company, CFI, prominent professionals,” Herman Miller and KlingStubbins. said Matt Knowles, CBRE Transaction Manager and a Event Details: Young Leaders Committee member. The committee When: Thursday, July 26, 2012 received overwhelmingly Time: 6:00pm – 9:00pm positive feedback on this fun and fast-paced night, and Where: Water Works, 640 Water Works Dr, will undoubtedly continue Philadelphia, PA 19103 to include speed mentoring Fees: $75/Members and $99/Non-Members events in future planning. Alex Bord with Comcast Cable and Jacob Malikkal with TD Bank Registration: Click here to register Campbell Soup Company CoreNet/NAIOP Reinventing its Headquarters - Annual Golf Outing Partnering for a Stronger Community Join members of the Greater Philadelphia and Mid-Atlantic Chapters of Once again this year we will be partnering CoreNet Global for with NAIOP for the Annual Golf Outing. a presentation and This year’s event will be held on September tour of the Campbell 10th at the Green Valley Golf Club in Soup Company’s Lafayette Hill, PA. Situated on 180 rolling World Headquarters. acres in the Greater Philadelphia area The presentation will of Lafayette Hill, Green Valley offers a focus on the planning private, William Flynn-designed 18-hole and strategy for the championship golf course. The cost is $1100 renovation of the for a foursome and $300 for single players. company’s global headquarters, including the recently completed Campbell Employee Center Don’t golf, but still want to network with (CEC). Campbell’s design objectives include fostering a more collaborative your colleagues? Join us for the reception work environment and a rejuvenation of corporate image. The construction starting at 5:30pm. The cost is $35/Members of the CEC and the improvements made to the surrounding infrastructure are and $55/Non-Members. part of the Gateway Redevelopment Project. The project is an important part of a joint public, private, and community effort to inject new vitality into the Event Agenda: City of Camden, NJ. 10:30am - Registration, Putting Green, Moderator: Daniel Fishbein, SLCR, Asset Manager for Corporate and Driving Range & Lunch Investment Real Estate, Lecturer, Consultant 12:30pm - Shotgun Start Speakers will include: 5:30pm - Cocktail Reception, Awards & Networking • Rebecca Bagin, Vice President Human Resources, Campbell Soup Company Event Details: • Tracy Brower, Director, Performance Environments, Herman Miller When: Monday, September 10, 2012 • Beth Jolly, Director, Internal Communications, Campbell Soup Company Time: 10:30am – 7:30pm • Richard Landers, Vice President Tax & Real Estate, Campbell Soup Company Where: Green Valley Golf Club, 201 W. • Amy Manley, Associate-Workplace Strategist, KlingStubbins Ridge Pike, Lafayette Hill, PA 19444 • Anthony Perno, Cooper Ferry Partnership Registration: Click here to register Immediately following the presentation, attendees will be taken on a tour of the Campbell Employee Center and Office Space, which will be followed by Sponsorship Opportunities networking in the Campbell Café.