Summer Doldrums?? Not feeling it this year! In Silicon Valley, we continue to need to compress operating expenses and keep rental rates low but now are seeing more real demand and less kicking the tires by prospective customers. Existing customers are still challenging landlords to lock in low rates but they are also mentioning the “G” word again – that’s G as in Growth. Capital is freeing up but banks and institutions are getting some property back. They need help and expertise in repositioning and leasing to ultimately be sold.
You might call this part of the cycle the “Time of the Building Manager”– now more than ever, cutting expenses adds real dollars to our owner’s pockets, keeping existing customers saves precious capital and downtime, and attracting new customers is critical given how many choices are out there. This is where we get to flex our knowledge (our own and that of our BOMA Associate members that help us) and make significant impacts to the investment returns our buildings provide.
Another reason I am not feeling the Summer Doldrums is all that we have going on at BOMA – Silicon Valley right now. Programs and activities that will add much more to your arsenal of knowledge. Here is a snapshot of what is on tap through the fall:
- Our new Vice President – President Elect, Liz Walker, is currently teaching a Fundamentals of Real Property Administration course
- We completed a Blueprint Reading Seminar on 8/5/10
- Partnering with Environmental Institute of America, we have LEED AP Courses on 8/25-27/10
- The Design, Operations, and Maintenance II Course starts on 9/23/10
- We have our annual Celebration of Commercial Real Estate Dinner on 10/7/10
- The Ethics is Good Business Course starts on 10/22/10
- The Membership Committee will be holding its October Harvest Celebration on 10/28/10
So get to the BOMA-Silicon Valley website and check all of our activities out. The key is to be PLUGGED IN: take a course, come to a lunch, get on a committee, join our BOMA-SV Group on LinkedIn, or just introduce yourself to a couple of people through our Membership Directory. You will be amazed at how quickly you will add to your knowledge and resource base – which ultimately will help you maximize your power and your property’s returns. This is our Time – let’s make the most of it!!
Eric Dameron-Drew
President,
BOMA Silicon Valley
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