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NAIOP Honoree Says Jobs Creation Needed

DENVER-"It is my view that today rents and resulting capital values will continue trading downward until there is evidence of new demand for space," Bill Pauls tells the local chapter of the National Association of Office and Industrial Properties, which gave him the 2001 President's award.

By John Rebchook | Updated on February 26, 2002

DENVER-More than 800 commercial real estate leaders recently honor the top performers in their industry at the local chapter of the National Association of Office and Industrial Properties annual award ceremony. Bill Pauls, a real estate leader for more than two decades, received a standing ovation when he was given the ”2001 President’s Award.”

Pauls, who put the Denver Technological Center on the map as the premier office park in the metro owner and is the developer with Paul Powers of the 1,200-acre Gateway Park, didn’t sugarcoat the market. His company, the Pauls Corp., also has projects underway or on the drawing board from Las Vegas to Houston to Calgary.

”So what predictions can be made today?” Pauls asked, after discussing the rise and fall of the commercial real estate market in the 1980s and 1990s. ”It is my view that today rents and resulting capital values will continue trading downward until there is evidence of new demand for space.

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