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HOME > Marketplace Reflections > issue 107
"Excellent firms dont believe in excellence-only in constant improvement and constant change." Marketplace Reflections: Issue 107We hope you enjoy this issue of Marketplace Reflections. Dudley & Associates has been engaged in Executive Search and Recruiting since 1983. Our web site is www.dudleyandassoc.com. The phone number is (972) 265-7915. ANNOUNCEMENTSwww.dudleyandassoc.comOur new and expanded website is now complete. Please visit and let us know your thoughts about the format and content. We are very thankful to the professionals at Creative Crate who designed it, and all the team at Dudley & Associates who worked on various aspects. This newsletter, which originated in 1996 by Sayres Dudley as a simple email tool to answer hiring questions, has evolved through the years to its current format. We have consistently tried to provide market information, announcements on meetings, uplifting stories, and introductions to new positions that the firm is representing. What started as a one man shop in 1983, Dudley & Associates, is now a formal partnership between Sayres Dudley and his wife, Kathy Dudley, and the company is a nine person firm. Over the next months, Marketplace Reflections will also be changing to reflect our growing company. Different members of the D&A team will be contributing and we will explore the addition of new features which will hopefully benefit our readers. OPPORTUNITIES288 J Senior Director of Leasing/Operations Industrial(Los Angeles)The private equity arm of a global real estate investment management firm is seeking a Senior Director of Leasing/Operations-Industrial Properties. The successful candidate will be joining a very successful team of dedicated professionals focused on the acquisition, development, and repositioning of large institutional quality assets in major markets around the US that exhibit a significant value add opportunity. The new Director will have the challenge of managing the development, leasing and operations of 12.5 million square feet of industrial product in the Inland Empire. This exciting opportunity is still available, and may be right for you. Contact Jon Torgeson at jatorgeson@dudleyandassoc.com289 SM VP of Business Development Real Estate Investment Banking(San Francisco)One of California's truly outstanding private companies, a national real estate investment bank providing real estate capital and advisory services for owners and developers, has created a new role in their San Francisco office. We seek an outstanding business development executive to reach new development and investment clients for their broad debt and equity needs. Are you tired of missing deals because your platform is too narrow? This opportunity may be for you. Contact Scott McGinnis at scott@dudleyandassoc.com290 M Senior Development Manager Commercial/Retail(Ft. Lauderdale, FL)A truly premier national private developer has opened a new South Florida operation and the new partner is seeking a right hand person. Do you love to execute from concept to completion on new commercial developments or redevelopment opportunities? Then you will love this deal, and have significant opportunity to participate in a profit share tied to the projects. Sound good? Contact Marvin Sadovsky at ms@dudleyandassoc.comMEETINGSNAIOP I-CON 2007June 27-28, 2007 Renaissance Hotel, Long Beach, CA For more information, go to www.naiop.org/conferences/Icon-07 Global Real Estate Investment Summit (prior to ICSC) May 17-18, 2007 Venetian Hotel, Las Vegas For more information, send email to: info@globalrealestatesummit.com ArticlePREVIOUS ISSUES On March 27, Real Estate Forum hosted its annual Southern California spring conference at the Los Angeles Convention Center for 1200 registrants. Four members of our team attended and contributed to the following overview. As usual, the speakers and panelists were outstanding, including a keynote address by Michael Pralle, President/CEO of GE Real Estate. Though GE will continue to increase its investments overseas, he believes US cap rates will go up but cash flow growth should outpace them. Due to rising construction costs, GE will continue to buy existing assets in larger proportion than joint-venturing in development deals. In general, most speakers were very positive about the 2007 California market. Some of the top brokers gave statistics on the amount of investment sales activity. David Doupe from JLL indicated that west coast sales were up 8% in the fourth quarter and believes that 2007 will be better. Though SoCal is experiencing some current deal fatigue, that should be temporary. Mike Kamm from NAI BT in San Francisco shared that their market has absorbed 15MM SF of office since the recession ended and that 2007 is poised to see additional rent growth. One of the most interesting panels was a group of investors, including Robert Brunswick Buchanan Street Partners, Mark Macedo Hanover, Tarak Patolia Sterling American, Richard Pink ING, John Strockis CBREI, Robert White Real Capital Analytics, and Moderator Bill Lindsey PCC. In 2006, these companies alone invested $10.5 BB worldwide, with a significant portion in California. Bob White shared national statistics from 2006 which indicated that YTD, investors have closed or have under contract $150 BB in CRE. Interesting stat: California investors purchased more property in Texas in 2006 than Texans. All agreed that replacement costs plus rent growth continue to drive investment over new development. Have a great week. Sayres Dudley Dudley & Associates 80 S. Lake Ave. #702 Pasadena, CA 91101 Phone (626) 564-0800 Fax (626) 564-0802 www.dudleyandassoc.com Copyright © Dudley & Associates 2007 All Rights Reserved
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