Sponsors of the 2011 CoreNet New York chapter were recognized for their continued support of the organization on November 10th at the historic “21” Club.   During the event, sponsors met with organization members, discussed current events, and joined in pre-holiday festivities.

This year’s dinner was a celebration of “The People of CoreNet Global NYC” and the event recognized all the members and industry professionals who have contributed to the organization’s growth as the premier learning organization for corporate real estate and workplace executives. The chapter produces nearly 50 educational and networking events annually to support the professional growth of its members and to elevate the importance of corporate real estate within companies and organizations worldwide.

“Our chapter’s long history of success comes from the incredible individuals behind the organization, and that’s why tonight is about the “People of CoreNet,” said Chapter Chair Kathy Winkler of Prudential Financial in her opening remarks to dinner attendees. “We salute our more than 700 members, past and present committee chairs and volunteers, and our sponsors. All of these people have shared their time, forward-thinking ideas and invaluable professional expertise for the benefit of the organization.”

“The annual dinner has become a ‘must-attend’ event for the corporate real estate industry and is a valuable networking opportunity for senior-level professionals in all aspects of the industry -- from corporate tenants to those in commercial brokerage, finance, development, architecture and interior design, engineering and construction” said Lucy Carter of Ted Moudis Asssociates, Boardmember, who chairs the Special Events committee of the Annual Dinner.

The Annual Dinner was made possible by generous support from Platinum Sponsors: Herman Miller, Cushman & Wakefield, Jones Lang LaSalle, Newmark Knight Frank, Tishman Speyer, Ted Moudis Associates, CB Richard Ellis, Knoll, Lane Office, and Teknion; and Gold Sponsors: Citigroup, Colliers International, CresaPartners, ?Gardiner USA, Gensler, Grubb + Ellis, RAKIA, Henegan Construction Inc., NAI Global,?Plaza Construction Corp., ?Steelcase, Studios Architecture, HOK, J.T. Magen & Company, Inc., and Tobron.

CoreNet Global NYC has been active this winter with a variety of events including a recent program on Lower Manhattan that looked at tenants making the move downtown, as well as an educational workshop for members that explored construction cost savings through transaction and legal considerations. The chapter will present a workshop for members on March 30th entitled “Building a Corporate Sustainability Plan,” and is planning a capital markets program for April. The Eastern Regional Symposium will be held June 6-7 in New York City.

About Core Net Global
CoreNet Global is the world's leading professional association for corporate real estate and workplace executives serving leading multinational companies from the Fortune and Global 1000. More than 7,000 members manage over $1.2-trillion in real estate and workplace assets in Asia, Australia, Europe, Latin America and North America.

The New York City Chapter, with more than 700 members, is the organization's largest and most active chapter. Noted for its extensive, progressive programs and innovation, the Chapter produces approximately 50 events annually, all designed to accelerate the professional growth, knowledge and accomplishments of its members. For more information visit: www.corenetglobalnyc.org

Membership Chair Hussain Ali-Khan awarded iPads to Mindy Williams-McElearney and Rachel Casanova, who each recruited the most new members during the fall membership drive.  In addition, the members-only event motivated six new members to join on the spot.  The Chapter now has more than 670 members and continues to grow.

The event focused on Related’s Hudson Yards and Brookfield Properties’ Manhattan West, and also touched upon other neighborhoods undergoing redevelopment, including the Atlantic Yards, the Highline, Seward Park, Life Sciences development along the East River and Lower Manhattan. In addition, the conversation looked back at some of New York’s historic and most transformative development projects like Grand Central, Times Square, Battery Park City and MetroTech in Brooklyn, to see which lessons from those projects could be applied today.
 
The evening’s distinguished panel of experts included Seth Pinsky, president of New York City Economic Development Corp. (NYEDC); Jay Cross, president of Related Hudson Yards; and Veronica Hackett, senior vice president of development for Brookfield Office Properties, developer of Manhattan West. The discussion was moderated by James Stuckey, divisional dean at NYU’s Schack Institute of Real Estate who served as NYEDC president under Mayor Koch.
 
“Real estate’s job is to understand what society needs,” Stuckey said as he introduced the panelists. “A good developer sees where society is going.”
 
Attendees had the opportunity to hear from the panelists about various issues they’ve addressed in these projects such as community relations, developing around existing infrastructure, financing in the current economy, calculating rents, and attracting tenants.
 
The event was organized by the Chapter’s Programs committee and Co-Chairs, Rachel Casanova and Pay Wu. The next Program is slated for November.

The event, which was held at Steelcase and is part of the ongoing Young Leaders’ Community Reinvestment Challenge, united some 25 Young Leaders from CoreNet’s New York City Chapter with approximately 25 young adults, ages 18-24, from OBT’s Young Adult program.

Sarah Currie of VVA, LLC, who organized the event with Christine Bennett of Wells Fargo, acted as moderator for a panel featuring Tyler McNeil of Cushman and Wakefield, Tommy O'Halloran of Structuretone, and Marisa Falletta of Citi.

Panelists presented insight into "a day in the life" at their jobs, as well as information on entry-level positions in their fields, and explained how they got their start.  Marisa Falletta focused on management training programs, while Tommy O’Halloran discussed the transition from a sales background to construction, and Tyler McNeil addressed the nuances of working in brokerage.

Following the panel there was a Q&A session, mock interview training, and networking.

"Every year this event gets better, and the young adults show more confidence,” said Currie. “It’s very exciting for us to give them information that could inspire them as they earn their GEDs, apply for college and set career aspirations.”

Following the panel discussion the Young Leaders lead mock interviews with the young adults and answered school and career-related questions. Afterwards, a networking session enabled the young adults from OBT to mingle with Young Leaders and talk informally about starting careers, coursework in college and networking.

The Young Leaders committee has worked with other New York City community groups, including Harlem RBI, New York Cares and the beautification of New York City parks, and looks forward to organizing community outreach events on a regular basis.

The New York City chapter recently held its first workshop in a three-part series focused on reducing construction costs. Entitled “How to $ave Money on Construction: Transaction & Legal Considerations,” the panel discussion featured expert commentary from a leading tenant-rep broker, commercial real estate attorney, corporate end-user and project manager. The luncheon workshop was held at Steelcase’s showroom at 4 Columbus Circle.

Mark Chiapperino, managing director at project management and consulting firm VVA, LLC served as a moderator for the workshop. Lee Kosmac, a senior managing director at Newmark Knight Frank, explored lease construction; Sam Sultanik, partner at law firm Hughes Hubbard, discussed construction agreements; and Alan Di Sciullo, director of global real estate at Shearman & Sterling LLP, offered insight on teamwork strategy in the planning stages.

The interactive discussion looked at the importance of building a business case and getting “buy-in” before investing time and construction planning dollars; how to assemble a team based off internal expertise and relationships with service providers; and offered tips for developing a “playbook” and setting realistic expectations among all team players.  The panelists shared insight on construction clauses in leases and suggested consulting facilities personnel to review specific lease components.

The issues of free rent, tenant improvement allowances and dispute resolution were discussed, as well as what to look for when choosing a construction manager or general contractor and which option might be better for savings opportunities, depending on the scope of a project. The panelists also discussed how to “value” pre-built space, cost controls, time management and the importance of input from IT in construction planning.

Part II or the “Design” phase of the “How to $ave Money on Construction” workshop series will take place Wednesday, April 13 at Scandinavia House

Alliance for Downtown New York President Liz Berger served as moderator for the evening and began with a brief overview of Lower Manhattan’s more recent history. She talked about the 1995 formation of the Downtown Alliance, now the city’s largest business improvement district, and its vision of “Wall Street and Main Street as the same street.”

Ms. Berger described how today’s Lower Manhattan, with its more than 56,000 residents, 18 hotels, 9 million annual visitors, dozens of new retail offerings and a comprehensive transportation network, “is not your father’s Wall Street.” Having grown tremendously from its 14,000 residents just 20 years ago, the area continues on an upward trajectory with the World Trade Center redevelopment and other cutting-edge projects, all while attracting an increasingly diversified mix of commercial tenants, she says.

Ms. Berger introduced an esteemed panel of Lower Manhattan real estate experts that included CB Richard Ellis’ Brad Gerla, an executive vice president at the firm’s Downtown office; David Cheiken, vice president of leasing for Brookfield Properties, which owns 12.8 million square feet in Lower Manhattan, including the World Financial Center; and James Love, Americas head of Real Estate Transactions at Goldman Sachs, which has made a long-term commitment to Lower Manhattan.

The panelists discussed the diversity of industries making the move downtown, particularly media companies such as Condé Nast, The Daily News and American Media. Panelists cited media companies moving closer to their workforce in order to recruit and retain talent, with a majority of their employees living south of 14th Street in Manhattan, in Brooklyn and Hoboken/Jersey City. Other industries also seeing growth in Lower Manhattan are healthcare, technology and not-for-profit organizations.

The panelists also discussed construction and leasing activity at the World Trade Center, the redevelopment of Water Street, the Downtown Alliance’s vision for Greenwich South, commercial-to-residential conversions, the long-anticipated opening of the Santiago Calatrava-designed Fulton Street Transit Center, and Goldman Sachs’ redevelopment and rebrand of Embassy Suites in Battery Park City.

The next learning program, “Capital Markets and Corporate Real Estate Strategy: Opportunities and Threats,” is slated for Wednesday, April 7.

As one of the Young Leaders' most popular networking events, this year's member-guest evening drew more than 60 attendees, half of which were new to CoreNet Global NYC. Prospective new members from various companies including Gensler, Goldman, Sachs & Co., Bank of America, BlackRock, Hess Corporation, Deutsche Bank, Marsh McClennan, Hunter Roberts Construction, and New York University were in attendance. Afterwards, many attendees offered positive feedback about the evening's welcoming and intimate atmosphere, as well as the impressive venue.