22A — January 2024 — M id A tlantic Real Estate Journal
www.marej.com
M id A tlantic R eal E state J ournal
Local chapter has more than 400 members NAIOP Maryland elects new Officers & Board Of Direc tors
By Howard Applebaum, Corporate America Realty & Advisors Fed’s swift interest rate pivot in Nov.: A panic-induced move
There has been a historical “Lag Effect” that results from the effects of FED Interest swing(s) (up or down) that take about historically 5-9 months for the Nation’s Economy to react to. 2024 is a significant political year, with an upcoming Presi- dential Election! The “cadre” saw various sectors of the economy head- ing towards or already start- ing to be affected by their pre-planned damage (higher interest rates) to slow infla - tion, which was accelerating quicker than “designed.” Inflation is slowing down to about 3.5% annual levels. Will the FED, with its’ delayed action of Failing to gradually raise interest rates, perhaps starting in March 2021 rather than waiting approximately one year later (March 2022), and their delayed rapidly in- creasing interest rate moves (500 “basis points” in a year, possibly now head us into cre- ate a period of “Deflation of prices, layoffs, bankruptcies and maybe worse”? Stay tuned! May 2024 be a profitable year and may you reach your professional goals with many industrial and Commercial real estate deals. Howard Applebaum is president of Corporate America Realty & Advisors. MAREJ targeted audience. The affiliation between the Mid Atlantic Real Es- tate Journal and CRE TV is a significant milestone in the industry’s media land- scape. The synergy of chan- nel ownership, strategical distribution, and advanced technologies positions this affiliation as a trailblazer in providing premium content to CRE professionals, allied trades, and beyond. As the real estate sector evolves, this collaboration showcases the power of innovation, connectivity, and a commit- ment to delivering trusted and valuable insights. In- dustry leaders featured in the Mid Atlantic Real Estate Journal now have a power- ful tool to amplify their in- fluence and make a lasting impact in the dynamic world of real estate. PJ Argen is CRE TV News and Technology Editor. MAREJ
RUTHERFORD, NJ — I believe in the “Lag Effect” and that the economy historically
ALTIMORE, MD — NAIOP Maryland has elected its slate of office and Board of Directors for 2024. Kate Jordan, SIOR, prin- cipal, Lee & Associates | Maryland, is president; Sean Doordan, executive vice president, acquisitions & growth, St. John Proper- ties, Inc. is president-elect; and Christopher Nevin, re- gional manager investment real estate, First National Bank is treasurer. John Hermann, vice president, asset management/leasing for COPT Defense Proper- ties is immediate past presi- dent. Each will serve a two- year term. Part of NAIOP, a network of more than 50 chapters in North America, NAIOP Maryland is comprised of commercial real estate de- velopment companies and professionals engaged with affiliated service companies including the architectural, brokerage, construction, in- terior design, and legal in- dustries. With more than 400 members, the local chapter is among the largest chapters. New professionals joining the Board of Directors are Matt Laraway, executive vice president, partner, Chesapeake Real Estate Group and Michael Trail, chief investment officer, MCB Real Estate. The remaining board mem- bers include: Elizabeth Alli- son, leasing, Merritt Prop- erties; William Barroll, B
moves sev- eral months behind Fed- eral Reserve Bank inter- est rate ad- justments. Most of us are now aware that the FED should have
Howard Applebaum
Shown from left top row: Tim O’Ferrall, Matt Laraway, Kate Nolan Bryden, Tom Ballentine, Kate Jordan, Christopher Nevin, Sean Door- dan, Scooter Monroe, Michael Tait, Elizabeth Allison, Scott Wimbrow. Bottom row: William Barroll, Tom Pilon, Michael Trail, Jannine Hayes, John Hermann, Karen Cherry. Whitney Wasson Photography
started gradually raising in- terest rates at least 1 year earlier than when they began in March 2022 in their “quest” to bring inflation down to a 2% annual rate. Instead, they mad-dashedly rushed to parabolically raise in- terest rates by 500 basis points from March 2022 until they hit their “Emergency Brakes” in November 2023. The FED decided to pause raising the borrowing costs they charge their member banks. Jerome Powell, the head of The Federal Reserve Bank, and his cadre of board members (Biden appointed four) saw ac- celerating “numbers” in various sectors of the economy in their attempt to slow down the over- all US Economy through their rapid interest rate policies. The Federal Reserve Bank’s Board of Governors “cadre” sees “economic data/ numbers” well before publicly publishing them! The Mid Atlantic Real Estate Journal, known for its industry insights, now integrates CRE TV to en- hance its offerings. This col- laboration seamlessly blends knowledge and news from top qualified experts, state- of-the-art distribution tech- nology, and content creation and coverage by award-win- ning TV news producers. It aims to be a comprehensive and trustworthy resource for residential and commercial real estate professionals, setting a new standard for industry-focused media. This collaboration unique- ly fuses cutting-edge tech- nology, the expertise of award-winning news pro- ducers, and MARE Journal’s extensive network of con- tributing CRE profession- als and experts; delivering content that is not only informative but also tailored to the evolving needs of a
from the board. “NAIOP Maryland has played an extremely signifi - cant role in the evolution of my professional career and, together with an extremely strong and diverse group of officers and board of direc- tors, I am anxious to tackle the on-going challenges faced by the commercial real estate industry,” said Kate Jordan . “Commercial real estate pro- vides places for companies to operate and employees to work and is a substantial driver of and contributor to Maryland’s growing economy. “The projects created by our members are integral in mak- ing the lives of Maryland’s more comfortable and pro- ductive, she continued. “Our industry remains sensitive to the impact our projects have on the local environment and we work diligently to deliver sites that are significantly bet - ter for the environment than when the development process started.” MAREJ
chief business officer, COPT Defense Proper- ties; Karen Cherry, vice president, leasing officer, Prologis; Jannine Hayes, commercial leasing rep- resentative, Knott Realty Group; Scooter Monroe, vice president office leas- ing, MAG Partners, Kate Nolan Bryden, senior vice president, MRP Indus- trial; Tom Pilon, executive vice president, develop- ment, St. John Properties, Inc.; Michael Tait, leasing representative, St. John Properties, Inc.; Nicole Wilhelm Smith, director of business development, Plano-Coudon Construc- tion and Scott Wimbrow, president and principal, MacKenzie Commercial Real Estate Services, LLC. Danielle Schline, senior vice president, market offi- cer, Prologis, Inc. and Paul Giulio, vice president of development, Hill Manage- ment Services, Inc. retired
continued from page 2A The MARE Journal & CRE TV. . .
JERICHO, NY — Kimco Realty announced it has re- ceived Nareit’s 2023 Leader in the Light Recognition Award for Retail for the second con- secutive year, marking the fourth time overall that the company has received this prestigious recognition for its sustainability initiatives. “At Kimco, ESG principles are deeply ingrained in how we innovate solutions and plan for the future,” said Kim- co CEO Conor Flynn . “This recognition reflects our dedica - tion to driving positive change and upholding the highest standards of corporate citi- zenship in everything we do. Being recognized once again for our ongoing commitment to Kimco Realty recognized as Nareit’s 2023 Retail Leader leading on environmental, so- cial, and governance issues is a true honor. The progress we’ve achieved motivates us to keep bettering our communities and delivering sustainable growth that positively impacts all our stakeholders, ultimately enhancing shareholder value.” Kimco continues to focus on its ESG goals, enhance partnerships with industry organizations, and expand opportunities for employee feedback and programming. In 2022, Kimco achieved two of its mid- and long-range ESG goals ahead of schedule and renewed its $2 billion credit facility, which includes sus- tainability-linked adjustments to align with the company’s Science-Based Target. To advance social respon- sibility initiatives, Kimco launched the Milton Cooper Trailblazer in Real Estate Award, expanded its partner- ship with Project Destined, and continued engagement with Management Leader- ship for Tomorrow. Kimco’s employee-led DEI Council also laid the groundwork for the launch of our Employee Resource Groups. “The sustainable, socially responsible, and transparent steps that REITs have taken, combined with new initiatives underway, are impressive and vi- tal to REITs and their investors,” said Nareit president & CEO Steven A. Wechsler. MAREJ
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