7:25 – 7:55
Registration and Continental Breakfast

7:55 – 8:00
Opening Remarks
Hear From:
  • Brian Klebash, Director of Events, GreenPearl Events
  • Ryan Slack, CEO, GreenPearl Events
8:00 – 8:25
State of the Market Presentation: Analysis and Review of Office Market Fundamentals & Investment Sales Volume

  • Key Cities: Comparison and analysis of Boston, Philadelphia, New York markets
  • Tertiary Markets: Where is the most activity outside the key cities?
  • Value Add: Contrast between sales volume in Class A versus Class B/C
  • Asking / Rental Rates: How as the recent recession impacted rental rates? Which cities have been hardest hit and why?
  • Vacancy rates: Where are vacancy rates now? How do these rates compare with past history and what do they tell us about the future?
  • New Development: What new construction / development is occurring in the office sector, including retrofits?

Hear From:

  • Sam Chandan PhD FRICS, Global Chief Economist & Executive Vice President, Real Capital Analytics
8:25 – 9:20
Deleveraging the Office Market: Investment Scenarios & Opportunities in the Next 12 Months

Blockbuster office sales may be delayed as lenders and special servicers amend and extend loan terms, however, the “delay-game” may be a short-term trend, with the real investment opportunity arriving around the corner. In this session, high-level and active investors representing private and institutional capital will assess the state of the investment opportunity in the face of economic recovery, significant deleveraging and the evolving debt market. The supply-demand imbalance continues, though investors see mounting pressure for this market to crack. Will the buying opportunities arrive this year, or later?

  • Investors and economists are increasingly raising the possibility of a double-dip recession, due in part to European debt woes. Are the odds of a double-dip increasing, and how is this outlook affecting investment strategy?
  • Will the office market recovery lag the turnaround in multifamily, retail and hospitality?
  • Should investors buy now, or wait for the likelihood of distressed debt sales?
  • What are the local markets and “pockets” prime for investment, despite the current climate?
  • Is the current regulatory environment–and prospect of additional financial regulation–keeping the market at a standstill?
  • What is the profile of today’s investor in class-A trophy buildings?
  • Are CMBS and portfolio lender special servicers handling troubled loans in a manner similar to–or different from the other property types?
  • The key east coast cities: Boston, New York, and Washington D.C. continue to attract global capital. Are foreign investors deploying capital?
  • “Structure for deflation and price for inflation?” How should buyers approach the next 12 months?
  • Will office investors strike gold in 2012 or 2013?

Hear From:

  • Moderator: Mark Marasciullo, Managing Principal, New Canaan Partners
  • Kevin Davis, Partner, AREA Property Partners
  • Paul Fried, Managing Director, Traxi, LLC
  • George S. Hasenecz, SVP – Investments, Brandywine Realty Trust
  • Saul Lubetski, Vice Chairman, Harbor Group International
  • Tim Wang, Ph.D., Senior Vice President, Research & Investment Strategy, ING Clarion
  • Isaac Zion, Managing Director, SL Green Realty Corp.
9:20 – 9:45
Green Design & Leasing: Has the Recession Led to a True Turning Point for the Future of Green Building Design and Sustainability?
Recently, One Bryant Park (Bank of America Tower) officially opened, commanding premium rental rates in Manhattan—despite the recession. Not only did the class-A building command high rents, it’s fully-occupied. The Manhattan office building is the first skyscraper to attain a Platinum LEED Certification. The project’s designer Serge Appel, AIA, LEED-AP, Associate Partner, Cook+Fox Architects, will share some of the green secrets of One Bryant Park, the skyscraper which has set a new global precedent for sustainable office building design. Additionally, this session will explore the connection between “greener” buildings, higher rental rates and lower vacancy of office buildings. Is green a sage investment, and is it paying dividends for office building owners?

  • A Green Design & Leasing Success Story in the Face of Economic Malaise: The Story Behind The Bank of America Tower at One Bryant Park
  • Retfrofits: With value in question, is green the best way for owners to add value?
  • New Building Design: Should sustainability be discussed from the first meeting?
  • Exploring the importance of well-run owners/managers in new design and retrofit selection
  • Analysis and review of the “green lease” vs. “non-green lease; understanding green lease terms, i.e. watts per square foot
  • Did green truly lead to the success of Bank of America Tower at One Bryant Park, or did other factors, such as location, “building newness” and tenant profile lead to higher rental rates and lower vacancy?
  • How is green working for office building owners in terms of quality of air and interior environment?
  • Educating tenants, brokers and consultants on LEED definitions and benchmarks

Hear From:

  • Moderator: Neil R. Tucker, Partner, Kramer Levin Naftalis & Frankel LLP
  • Serge Appel, AIA, LEED-AP, Associate Partner, Cook+Fox Architects
  • Alanna Martin, Principal, Green Properties New York

9:45 -10:05
Networking Break

10:05 -10:55
The Office Debt Players–Will the “Unexpected Turnaround” in Debt Financing Continue?
  • What will the effects of the European debt crisis be on financing commercial real estate in the United States?
  • What are the factors that have led to the “unexpected turnaround” in the past 90 days? Is this a trend short-term?
  • Has mezzanine debt re-emerged for office deals?
  • Is CMBS back, and here to stay?
  • Is the improvement in debt availability for New York City office deals spreading to less than investment-grade portfolios?
  • What will the debt market look like in 12 months from now?

Hear From:

  • Moderator: Peter Lewis, President, Wharton Equity Partners
  • Dan E. Gorczycki, Managing Director, Savills Granite, LLC
  • Mitchell Gould, Executive Vice President, BRT Realty Trust
  • Barclay Jones, Executive Vice President-Investments, iStar Financial
  • Scott A. Singer, Principal, Singer & Bassuk Organization
  • Robert Verrone, Principal, Iron Hound Management Company, LLC
  • Marc Weil, Senior Associate, Real Estate Group, Avenue Capital Group
10:55 – 11:40
Landlord & Broker Roundtable: Signs of Optimism, or Too Soon To Get Bullish?
A group of office investors/landlords and brokers will discuss the state of the office markets in New York City, and Washington D.C.–two cities which appear to be resisting broader industry trends. Get their thoughts on foreign investors’ appetites for East Coast office buildings, and the outlook for leasing in the next 12 months.
  • Realities of the Recovery: Where is the market today?
  • Investor/Landlord Perspective: Is the recession truly over? Will a “double-dip” occur? And, will landlord strategies change under the “double-dip” scenario?
  • Non-Performing Leases: How far should building owners and managers go to accommodate existing long-term tenants? How are these leases playing out?
  • New Leasing Activity: What are the sectors and tenants driving new leasing activity and renewals?
  • Chasing Deals, “Shocking” Cap-Rates and the Next 12 Months: Are cap rates simply too low? And, what deals will get done in Q3, Q4, and 2011?
  • New York and Washington D.C. as “bubble markets?” Why are the east coast commercial markets resisting broader industry trends? And, are New York and Washington D.C. out of the woods of economic malaise and weakening fundamentals, and for how long?
  • The presence of foreign investors: How are foreign investors approaching class A/trophy building opportunities in New York and Washington D.C.? How is their buying appetite in the current recovery similar to, or different from past cycles?

Hear From:

  • Moderator: Robert S. Nash, Partner, Schulte Roth & Zabel LLP
  • Abraham J. Hidary, President, Hidrock Realty
  • Andrew G. Simon, Executive Managing Director, NAI Global — New York City
  • Nick Smith, Executive Vice President and Chief Investment Officer, First Potomac Realty Trust
  • James R. Wacht, President, Sierra Realty Corp.

11:40 – 12:25
Suburban Office Markets: Are Corporate End-Users Becoming the New Landlords? And, Will Westchester, Long Island and New Jersey Markets See New Rent Growth in an Economic Recovery Period?

  • Suburban Office: Has the recession and subsequent recovery created new investment and/or development opportunities in suburban office properties?
  • Faced with higher rents, are traditional urban tenants considering suburban locations?
  • Finding Opportunity: Which suburban markets have the most promise? What are the characteristics and criteria for market selection? Where specifically are medical, legal, and tech growing the fastest in the Northeast suburban markets?
  • Suburban Property Repositions: Are non-office building owners of underperforming properties considering repositions to boost NOI? Which property types are ripe for conversion?
  • The ramifications of unprecedented deleveraging on suburban office values: Where is value today?
  • Landlord challenges in today’s climate, including: lease renewals, increasing vacancy concessions, and recapitalization
  • The play of local and regional banks for suburban office deals
  • Emerging trendline: Corporate end-users as the “new buyers”
  • Unrealistic vs. Realistic Expectations: Where is the market today in terms of leasing and sales volume, and are some buyers/sellers and brokers becoming bullish, too soon?
  • Where are deals trading, and what has been the profile of recent investors and properties in recently-closed deals?

Hear From:

  • Moderator: Kevin P. Welsh | Senior Vice President, New York Capital Markets, CB Richard Ellis, Inc.
  • James Houlihan, Principal, Houlihan-Parnes Realtors, LLC
  • Frank Kenny, Founder and CEO, Willet Companies LLC
  • Michael Schor, Executive Vice President/Counsel, The Treeline Companies
  • Jonathan Schultz, Co-Founder and Managing Principal, Onyx Equities, LLC
  • Shekhar Shah, President, SRS Property Group LLC
12:25 – 1:10
The New Investment Alternative: Exploring the Rise of Data Centers in Investor and Developer Portfolios

  • Supply vs Demand: In an increasingly technology-dependent business climate, is the current data center infrastructure adequately meeting demand?
  • How would current owners stand to benefit by repositioning properties to data centers? And, what’s required?
  • Where is the most new data center development occurring: suburban or urban locations?
  • What is “co-location” of data centers?
  • How is the concentration of financial service firms in the New York City metro area impacting data center demand and supply in the local market?
  • What are the main obstacles to data center development in the Tri-State Area?  And, how can they be overcome?
  • Will the Tri-state data center market eventually “top out”?
  • How is the current economic cycle, driven by technology demand, different from the dot.coom boom (and bust) which began in the late 1990’s?
  • Analysis and review of cap rates on recently closed deals

Hear From:

  • Moderator: Hugh P. Finnegan, Partner, Sullivan & Worcester LLP
  • Colton Brown, Regional Director Sales & Leasing, DuPont Fabros Technology
  • Jeff Hipschman, Senior Managing Director, CB Richard Ellis | Brokerage Services
  • Jim Kerrigan, Executive Vice President, Grubb & Ellis
  • Josh Rabina, Co-President, Sentinel Data Centers
  • David Spiewak, Executive Vice President, CS Technology
1:10
Office Leasing, Finance & Investment Summit Concludes