Commercial real estate was not immune from the prolonged economic downturn that began in 2008, and over the last five years many commercial real estate practitioners retired, went into another profession, or lived on credit and savings in order to survive.
CCIM (Certified Commercial Investment Member) Institute also faced challenges on both the local and national levels. Membership dropped, budgets were slashed, and the leaders of CCIM had to develop new and innovative ways to conduct business in order to continue providing the high levels of education, technology and networking that are the trademark of CCIM.
The commercial real estate market has made a slow but steady recovery. Some segments, multifamily and NNN single tenant, in particular, are hotter than ever with deals trading at cap rates of 4 and 5 percent. The real estate practitioners who stayed in the game are beginning to reap the rewards, but it is unlikely that anyone who lived through this time will ever forget the struggle of the past five years.
As the real estate market recovers, commercial real estate professionals are again realizing that in order to be at the top of their game, they need to continually improve their market and business skills, and CCIM is the clear choice. Our first lunch and learn of the year was a sellout with more than 90 attendees, and our first education course of the year, CI 101, is also full with a wait list.
CCIM San Diego includes the leading real estate practitioners in San Diego. Our membership is diverse and includes brokers, asset managers, attorneys and CPA’s. Our members are leaders in their fields, and include the heads of real estate at Sharp Healthcare, the City and County of San Diego, and brokerage and law firms. Our Lunch and Learn programs, the third Wednesday of every month in UTC, are usually sold out and our speakers include top brokers, attorneys and other industry leaders who provide excellent and timely education at a good value.
Find out what CCIM can do for you by becoming a member today. Visit us at chapters.ccim.com/sandiego for our schedule of programs and events. Get to know the top commercial real estate decision makers and practitioners in San Diego. You do not need to be a designee to join our Chapter. Anyone working in the commercial real estate industry or supporting industries is welcome.
Wishing you a prosperous and exciting 2013!
-Hines is the managing director and president of Sperry Van Ness and Promus Commercial and president of CCIM San Diego.