UPCOMING EVENTS
January 15
Monthly Luncheon
January 22
Emerging Leaders Workshop
"Business Etiquette"
February 19
Monthly Luncheon
February 26
Bowling with the Board Mixer
 
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The Byline
  JANUARY 2015

Welcome to 2015!

2014 flew by so fast!
As I ponder what to write for my inaugural letter as the 2015 president I realize that I am the first president to head up the Silicon Valley association that is not a property manager and the first whose only business is leasing and sales!  I specialize in the sales & leasing of commercial real estate in the greater Silicon Valley as a broker with Transwestern, a national commercial real estate company that is a strong supporter of BOMA throughout the nation.

Why is BOMA important to me and my business? Because of our commitment to advocacy and education.  I become a better partner to my clients by being aware of any legislation that may affect their existing property or potential purchased property. Through BOMA advocacy we've had some great wins for our commercial real estate owners in Congress and the State Legislature.

Leasing & sales are up! Lease rates for office are holding steady or growing stronger as vacancy rates go lower. We've seen this uptick since 2012 with the momentum continuing. Our January 15th lunch program Commercial Real Estate Outlook featuring a panel of my fellow brokers will be moderated by Joe Lewis of Orchard Properties, I look forward to this event each year to get their perspective looking back & moving forward.  And next month, we will get the media's take on what's to come in 2015 when Silicon Valley Business Journal Editor-in-Chief Greg Baumann and Senior Real Estate Reporter Nathan Donato-Weinstein give their insights on trends for the Valley economy and in particular, commercial real estate.

2015 brings us a new San Jose Mayor! Sam Liccardo is a strong advocate of commercial real estate and I'm looking forward to the coming years with him at the helm.

I'm excited to be your President and hope to look back this time next year and feel that I made a difference in our Association!!

Sincerely,

Dues Are Due!

You don't want to miss all the great events and programs your BOMA committees have planned this year (or your member discounts to attend)! Renew now! Just a reminder that the deadline for renewal of your BOMA Silicon Valley membership is January 31, 2015.

To those of you who have already renewed...thank you!  If you haven't renewed yet, remember if payment is not received by the deadline your membership will be dropped. Associates: The January 31 deadline is even more critical for you. If we do not have your dues and you are dropped, you must reapply for membership by joining the waiting list!  Don't miss the programs, the networking, and the fun of being part of BOMA.

Have questions about your membership or misplaced your dues invoice mailed back in November? Contact the BOMA office for assistance.

Not a member? Now's the time to join the commercial real estate organization that will make a difference to your career and your industry: BOMA Silicon Valley. Click here for information on joining BOMA.

BOMA Victories...and More Battles

BOMA International and BOMA California, your advocacy representation at the national and state levels, have posted some key "wins" for 2014 and already in 2015.  More details are available on our Advocacy page, but here are the highlights:

Leasehold Depreciation:   BOMA was instrumental in influencing the passage of a retroactive extension of the 15-year depreciation period for tenant improvements, which had previously expired at the end of 2013. This means building owners can deduct expenses for tenant improvements (as well as restaurant improvements/new construction and retail improvements) made in calendar year 2014 over 15 years instead of 39.

TRIA:  The Terrorist Risk Insurance Act was finally renewed in January 2015.  The renewal extends the federal backstop for six years, gradually increasing the loss threshold that triggers federal assistance under the program from $100 million to $200 million.

Sometimes it's not what is passed, but what is stopped that matters most.  At the state level for example, BOMA Cal again defeated proposals on Split Roll taxation, and a new Wage Dispute/Property Lien proposal.

But what lies ahead?  Later this month, BOMA international will publish its 2015 Issues Report.  Members will be provided with a pdf link to the report they can share with building owners and key leaders in their companies and communities.  BOMA California continues its weekly updates from Sacramento next week. And BOMA Silicon Valley will continue to offer legislative and code summaries on its Advocacy page.

Want your chance to be heard and make a difference?  Contact the BOMA office for information on participating in Government Affairs.  We need you!

Help Wanted

BOMA members sometimes miss one of the most valuable aspects of their membership: involvement.  BOMA thrives because of the participation and leadership of its volunteers; but members forget that they too gain advantages from their participation.

  • Relationships:  It may sound trite, but your career could well depend on the people you meet at BOMA.  Working "in the trenches" brings you together with colleagues from other companies, with varied skills and knowledge.  Getting to know them in more than passing at an event or luncheon gains you a friend to call with a question or even the link to that next job.
  • Leadership:  Volunteering offers a crucial training ground to hone (or show off) your management skills. 
  • Insiders View of Our Industry:  BOMA members are flooded with information and requirements.  Keeping up can be a challenge.  Our committees can give you a better understanding of what is happening and how others are handling the ever-changing industry demands for high performance buildings, in meeting codes and regulations, best practices in safety and implementing new technologies.

It's time you got involved!  Contact the BOMA office to learn more.  And watch for an upcoming "Help Wanted" email from all your Committee Chairs with more info! 

Find your spot in BOMA and make a difference!