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HOME > Marketplace Reflections > issue 108
""Love is to the heart what the summer is to the farmer's year. It brings to harvest all the loveliest flowers of the soul."
" Marketplace Reflections: Issue 108We 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. ANNOUNCEMENTSDudley & Associates is pleased to announce the addition of John Lester to our consulting team. Many of you in Dallas and Houston know John from his many years in the development and leasing business. He is a former Partner with Trammell Crow and Gerald Hines in Houston, before migrating north to Dallas where he enjoyed a great career with Bradford. John’s diversified experience in commercial real estate will be a great asset as he manages executive search assignments for our clients. If you know John, please send him an email at jlester@dudleyandassoc.com.OPPORTUNITIES292 J Managing Director/Market Leader(San Francisco)A global real estate services firm is seeking a Managing Director/Market Leader for their San Francisco office. The successful candidate will be joining a company whose entrepreneurial and creative culture has positioned them as one of the global leaders in real estate brokerage, capital markets, valuation/consulting, and property management. If you are a proven leader with the ability to develop and execute a compelling growth strategy, then you do not want to miss this exciting opportunity. Contact Jon Torgeson at jatorgeson@dudleyandassoc.com293 S Development Partner(Houston, TX)An outstanding national developer with significant private equity is seeking a local Partner to open and operate a full-service development operation in Houston. Projects will encompass office, industrial, and retail. This prestigious opportunity provides a major equity ownership stake for both development and investment projects. Partner must demonstrate a history a principled dealings throughout the Houston real estate community. Contact Sayres Dudley at asdudley@dudleyandassoc.com294 SM Chief Financial Officer(Orange County, CA)Our client is a private Orange County based full service real estate development company with complete construction, marketing, and property management services. Product types include office, hotels, industrial, retail, and multi-family. The CFO will direct the organization's financial planning and accounting practices. He/She will interface with lending institutions, partners, and the financial community by ensuring company accounting procedures conform to generally accepted accounting principles. Contact Scott McGinnis at scott@dudleyandassoc.com295 S Development Partner(Dallas, TX)An established multi-disciplined development operation seeks a Partner to lead and grow its operations in North Texas. We desire a visionary and entrepreneurial leader, known and trusted by the brokerage community, who desires a dynamic, aggressive platform for both new development and redevelopment opportunities. The company has a strong capital component and enjoys long term stability through creative value-added ventures. Contact Sayres Dudley at asdudley@dudleyandassoc.com296 JL VP Capital Markets(DFW Area, TX)Our client, based in North Texas, invests in development projects nationwide, providing real estate investment programs to individuals desiring to diversify their holdings. Assets include shopping centers, office buildings, hotels, and multi-family projects. The new VP will raise private equity through high net worth individuals and financial planners/wealth managers. This requires a good understanding of the capital stack and a successful background in sales and business development. Contact John Lester at jlester@dudleyandassoc.com297 S Regional Partner(Dallas, TX)International development company is strengthening their presence in the Southwest with the hiring of this newly created position. Responsibilities will include leadership and collaboration with the local city partners, plus strategic planning and business development for the region’s profitability. Role includes very serious direct ownership stake in all projects. Contact Sayres Dudley at asdudley@dudleyandassoc.comMEETINGSReal Share Orange County 2007August 28th, 2007 Hyatt Regency Irvine For more information, please visit: http://www.almevents.com ICSC San Diego 2007 September 18-20, 2007 San Diego Convention Center For more information, please visit:http://www.icsc.org NAIOP Development ‘07 October 16-19, 2007 Omni Hotel Atlanta, GA For more information, please visit: http://www.naiop.org ArticleI.con 2007 – The National Industrial ConferenceOver 500 people, including Kathy and Sayres Dudley, Jon Torgeson, and Scott McGinnis, gathered in Long Beach, CA for the I.con Conference on June 28, 2007. Among the many sessions, we heard from numerous experts on logistics and transportation, and representatives from the ports. There were ongoing discussions on the challenges of goods movement from LA/Long Beach into the distribution system. The general consensus is that the industrial industry will remain strong through 2007 and the growth of inland ports, and upgraded rail systems, will eventually relieve some of the congestion. The most interesting presentation came from our keynote, Walt Rakowich, CEO with ProLogis. He shared an overview of their worldwide operations and his observations on Asia and Near East. World trade has grown from $3 Trill. - $10 Trill. in the last 20 years with China leading the way. That country has seen 200% growth in TEU traffic in the past 10 years, with U.S. west coast ports handling 66% of that traffic. As a result, ProLogis now has 45% of their assets outside the United States. China has experienced an 8+ % GDP growth over the last 20 years. This is the greatest growth in world history. 9% of that GDP has been invested in infrastructure, including 15K miles of new expressways since 2001. In comparison, India is the second fastest growing country, with 6%-8% annual GDP growth. The government though, has only invested 4% in infrastructure, so goods movement in India is very difficult. In Japan, major changes have taken place. Whereas most real estate was formally corporate owned, now companies are moving real estate off their balance sheet. Most of the product is old, so this has created a demand for new buildings. Lack of land though, requires the building of multi-story industrial. Finally, Walt commented on Europe. The European Union has created cross country trading, without the need for distribution centers in each country. Since most of the company owned facilities are obsolete, new state of the art industrial is needed. ProLogis will do $1.2 BB+ European development in 2007. Copyright © Dudley & Associates 2007 All Rights Reserved
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