Old Dominion University Hampton Roads Real Estate Welcome! Market - PDF document

3/3/2011 Old Dominion University Hampton Roads Real Estate Welcome! Market Review and Forecast 2011 2011 John R. Lombard, Ph.D . Director E.V. Williams Center for Real Estate and Economic Development Presented by: Department Chair Department of Urban Studies and Public Administration E.V. Williams College of Business and Public Administration Old Dominion University Center for Real Estate and Economic Development Thank you to the Sponsors of the 2011 Hampton Roads Real Estate Market Review and Forecast Bank of America Merrill Lynch Real Estate Information Network, Hampton Roads Chapter of the Inc. Cavalier Land, Inc. Appraisal Institute Rose & Womble Realty CB Richard Ellis/Hampton Roads Harvey Lindsay Commercial Real Company, LLC City of Portsmouth Economic Estate S.L. Nusbaum Realty Co. Development Hourigan Construction Sam Segar & Associates, Inc. City of Virginia Beach Economic Inlet Technology Commercial Realtors Development Development Turner Construction Company Inside Business Colonial Webb Contractors Turning Technologies Cushman & Jones Lang LaSalle Wakefield/THALHIMER Virginia Housing Development Kaufman & Canoles, P.C. Authority Dominion Realty Advisors, Inc. Liberty Property Trust W. M. Jordan Company ECS Mid-Atlantic, LLC MEB General Contractors Wells Fargo First Potomac Realty Trust Monarch Bank Commercial Real Wheeler Interests Grandbridge Real Estate Capital Estate Finance Williams Mullen Hackworth Reprographics, Inc. Old Dominion University Real Estate Foundation John R. Broderick, President Gilbert R. Yochum, Ph.D., Interim Dean College of Business & Public Administration, Old Dominion University 1

3/3/2011 CREED Council Industry Professional Advisors to 2010-2011 the Center (IPAC) J. Scott Adams, CCIM Laura B. de Graaf Carl Hardee April Koleszar CB Richard Ellis Bank of America Merrill Lynch Lawson Realty Corporation Koleszar Properties, Inc. Honorary Member N. Joseph Dreps Michael Newsome Tony Smith Robert M. Stanton, CSM and BB&T Clark Whitehill Enterprises, Inc. Robinson Development Group Tom Atherton Michael Divaris John C. Harry Barry M. Kornblau CPM MEB General Contrators Divaris Real Estate, Inc. John C. Harry, Inc. Summit Realty Group, Inc. Stanton Partners, Inc. Pamela J. Faber Harrison J. Perrine Deborah K. Stearns, LeClair Ryan Perrine Investments Stewart Buckle, II Helen Dragas Dorcas T. Helfant-Browning Tyler Leinbach CPM, SIOR The Morgan Real Estate Group The Dragas Companies DTH Properties, LLC Trafalgar Realty, LLC Harvey Lindsay Commercial Real Jeff Ainslie Ainslie Group Estate Joel T. Flax, CPA Don Perry M. Albert Carmichael Brian J. Dundon Virginia P. Henderson, MAI John R. (Jack) Lewis, II Goodman and Company Continental Development Harvey Lindsay Commercial Real Estate Dundon & Associates Commercial First Appraisers, LLC ECS Mid-Atlantic, LLC G. Robert Aston, Jr. Richard Thurmond TowneBank TowneBank William E. Wood & Associates William E Wood & Associates David M. Gianascoli David M. Gianascoli Victor L. Pickett Victor L. Pickett W. Page Cockrell g Sandra Ferebee Charles Hutchison Harvey Lindsay, Jr. y y, Hurt & Proffitt GSH Residential Sales Vanasse Hangen Brustlin, Inc. Harvey Lindsay Commercial Real Estate Gee’s Group Real Estate Grandbridge Real Estate Capital, Ramon W. Breeden, Jr. Development LLC Jon S. Wheeler David Collier Bart Frye, Jr. Michael A. Inman Jeffrey R. Mack The Breeden Company Wheeler Interests First Atlantic Restoration Frye Properties, Inc. Inman & Strickler, P.L.C. The CIM Group John L. Gibson, III Thomas E. Robinson Sanford (Sandy) M. Cohen Ellis-Gibson Development Group Robinson Development Group Robert T. Williams Lawrence J. Colorito, Jr., MAI Brian E. Gordineer, A.A.S Cherie James Mike Mausteller Divaris Real Estate, Inc. Tri City Developers, LLC Axial Advisory Group, LLC City of Hampton, Cherie James, CPA Harvey Lindsay Commercial Real Estate Warren Harris Jim V. Rose Office of the Assessor City of Virginia Beach Economic Rose & Womble Realty Co., LLC Hahns L. Copeland Terry Johnson G. Cliff Moore Craig Cope Rod Woolard DARVA Group LLC Abbitt Realty VIRTEXCO Corporation Liberty Property Trust Development City of Norfolk Economic Howard E. Gordon Williams Mullen Development Bradley R. Sanford, MAI Ann K. Crenshaw Mallory Kahler Michael Nice Dominion Realty Advisors Cecil V. Cutchins Aubrey L. Layne, Jr. Kaufman & Canoles, P.C. Dennis W. Gruelle City of Portsmouth Economic Development George Nice and Sons, Inc. Olympia Development Great Atlantic Management, LLC Steven Wright Appraisal Consultation Group Corporation City of Chesapeake Economic Burrell F. Saunders, AIA, IIDA, Jon R. Crunkleton, Ph.D. E. Andrew Keeney Thomas O’Grady Development Miles B. Leon NCARB Old Dominion University Jonathan S. Guion, SIOR Kaufman & Canoles, P.C. Clancy & Theys Construction Jonathan Commercial Properties Robert L. Dewey S. L. Nusbaum Realty Company H&A Architects & Engineers Kim Curtis R. I. King, II James N. Owens, CCIM Willcox & Savage, PC Tidewater Home Funding Cushman & Wakefield/THALHIMER Harvey Lindsay Commercial Real Estate Russell G. Hanson, Jr. Michael W. McCabe Reese Smith, Sr. Hanson Capital, LLC Thomas M. Dillon Harvey Lindsay Commercial Real Reese Smith & Associates William G. Darden William E. King, SIOR Robert L. Philips, Jr. Fulton Bank Estate Hearndon Construction Co. Harvey Lindsay Commercial Real Estate Cushman & Wakefield/THALHIMER Hampton Roads Office Market CREED Council Executive Committee Executive Committee 2010-2011 Sandra Prestridge Robert M. Stanton George D. Vick, III City of Norfolk Economic Development Stanton Partners, Inc. Harvey Lindsay Commercial Real Estate Chair Brad Sanford Chris Read Jeremy R. Starkey Edward W. Ware CB Richard Ellis/Hampton Roads Monarch Bank Commercial Real Norfolk Redevelopment and Housing Director John Lombard Estate Finance/Monarch Capital, LLC F. Craig Read H. Mac Weaver, II Read Commercial Properties Wells Fargo Real Estate Group Daniel R. Stegall Program Chair Stephanie Sanker John C. Richards, Jr. Daniel Richard Stegall, CB Richard Ellis/Melody & Co. A Professional Law Corporation Edward M. Williams William E. Wood & Associates Publications Chair Brian Dundon Rennie Richardson Terrie L. Suit Richardson Real Estate Corporation p The Office of Commonwealth F. Blair Wimbush Membership Chair Craig Cope Preparedness Norfolk Southern Corporation Maureen G. Rooks Jones Lang LaSalle Leo Sutton Peter E. Winters, Jr. Curriculum Co ‐ Chairs Jon Crunkleton, Brad Sanford Historic Ventures, LLC Bank of Hampton Roads J. Randy Royal Kimley-Horn and Associates Michael Sykes Chris Wood By ‐ Laws Chair Andrew Keeney Bank of Hampton Roads JD & W Robert J. Ruhl City of Virginia Beach Economic Robert M. Thornton, CRE, John P. Wright Past Chair Tom Dillon Development CCIM, SIOR Waverton Associates Cushman & Wakefield/THALHIMER At ‐ Large Jonathan Guion Stephanie Sanker, SIOR, CCIM William C. Throne, SIOR, S.L. Nusbaum Realty Co. CCIM, ALC Cushman & Wakefield/THALHIMER Billy King Robert M. Sherman III, CPM Harrison & Lear, Inc. Jamie Tollenaere S.B. Ballard Construction Company Aubrey Layne Kenneth Sisk, P.E. Bowman Consulting Group Stewart Tyler, ASA Right of Way Acquisitions & Appraisals Anthony W. Smith Robinson Development Group Market Review Committee Market Review Committee Editorial Committee Kyllie Brinkley Joy Learn Industrial Bill Throne and Stephanie Sanker David Chapman John Lombard Office Maureen Rooks Albert Duncan Sandi Prestridge Sandi Prestridge Retail Retail David Machupa Kyllie Brinkley David Machupa, Kyllie Brinkley, and David Chapman Brian Dundon Maureen Rooks Multi ‐ family Charles Dalton/Real Data Nancy Gossett Brad Sanford Residential Blair Hardesty, Ron Wildermuth, Elizabeth Hancock Lane Shea and Van Rose Investment Scott Adams Janice Hurley Kristi Sutphin 2