SIOR Fall World Conference Had Nearly 1,000 Attendees

PORTLAND, OR—SIOR’s annual Fall World Conference last month drew more than 900 members, earning it a place on the top 10 list of conferences held in the nearly eight decades of SIOR’s existence. This high attendance is a testament to the organization’s forward-thinking curricula and networking appeal, say SIOR conference organizers.

“For years, SIOR has been leading commercial real estate conferences that have become the place for networking and deal generation, and Portland was no exception,” Alexis Fermanis, SIOR communications director, tells GlobeSt.com. “SIORs are considered the best at what they do, and our conferences demand the same level of excellence. Confidence in the industry and the organization remain high, and the dedication that SIORs have to their profession and each other is what truly makes these events so rewarding, especially in the knowledge that with each conference, we’re helping to make the entire industry stronger and more connected.”

For the 79th year, the conference gathered commercial real estate brokers and global thought leaders to learn and share ideas through a series of presentations, breakout sessions, committee meetings and networking events. Topics of discussion included:

Multiple sessions on emerging digital technologies and practical applications for the brokerage community including smart buildings, and how sensorization, big data and the Internet of Things can best serve landlords, brokers and building operators.

An occupier’s view of industrial space, which included discussions on how labor, transportation, technology, tariffs and e-commerce are affecting current operations, decision-making around future planning and the importance of industrial flex-space.

How cutting-edge underwriting/due diligence trends and practices can be incorporated into deal making.

Special guest speakers included economist, political commentator and actor/comedian Ben Stein, who shared his insights into the economy, the political landscape, show business and his close relationship with former president Richard Nixon; business and cultural transformation expert Martin Lindstrom, author of “Small Data,” who discussed how becoming a student of human behavior rather than relying on data crunching will put the humanity back into marketing while yielding significantly better results; and global trend-watcher and Harvard University lecturer Vikram Mansharamani, author of “Boombustology: Spotting Financial Bubbles Before They Burst,” a guide to anticipating the future, managing risk and spotting opportunities in an uncertain world.

In addition to the educational sessions, the various constituencies within SIOR (Young Professionals, Technology Committee, SIOR Foundation Board of Trustees) held meetings to advance initiatives and review progress of existing programs. In his opening remarks, incoming SIOR president Mark Duclos of Hartford, CT-based Sentry Commercial indicated that the organization has “never been in a stronger financial position” and charitable giving has doubled since 2015. Membership is also growing, as SIOR has added 66 new members since the last conference in April held in Washington, DC. Duclos also reiterated the guiding principles of the organization stating, “it’s not just about production, about getting big numbers, it’s about how you get there…being an SIOR says as much about who you are as about what you do.” Following the conference, Duclos remarked that “there seemed to be a real energy that carried from the beginning of the conference all the way through” and also praised the educational aspects of the conference.

“The content we provide is always geared towards addressing what the future looks like–and we’re not necessarily talking about the potential downturn,” said Duclos. “What we’ve got are markets–both office and industrial–that are continually evolving, so whether it’s the impact of WeWork’s difficulties on landlords and tenants in the major city markets or the impact of the ever-changing world of e-commerce on the industrial sector, the content provides us with tools and insights to keep up with the changing markets.”

Attendees also had ample time to partake in social and networking events, including a Young Professionals Night Out event, a sold-out office broker dinner and the perennial favorite Panattoni Party. The conference also featured a number of outings for SIOR members and significant others including a tour of Portland featuring visits to the Pearl District, International Rose Test Garden, Nob Hill, the Cultural District and Lan Su Chinese Garden.

“This is the first time the SIOR World Conference has been held in our market, so we were grateful to have the chance to show off our beautiful city, and thrilled to learn that this was one of the largest turnouts in SIOR’s history,” said Jerry Matson, Colliers International EVP and president of the SIOR Oregon chapter. “I think there was a genuine curiosity about Portland and its culture, and the feedback that we’ve received from members about their visit has been overwhelmingly positive.”

There were several key takeaways that SIORs discussed and shared, GlobeSt.com learns.

Industrial continues to outperform all other sectors of real estate. Sentiment among industrial experts remains strong going into 2020, with little concern about a market downturn.

There is unlikely to be any drop-off in e-commerce growth and the online shopping sector will continue to be the main driver, vacancy rates will remain very tight, and rents should continue to rise.

There is very little concern about overbuilding in the industrial sector.  Demand for last-mile product continues to be the most sought-after type of property.

The labor shortage continues to be a big problem for warehouse and logistics sectors, particularly for e-commerce which needs more bodies than other industrial users.

Overall, tariff and trade war impact has not been felt across the industrial sector, save for a few incidents on the West Coast where deals have been pulled.

Office property in suburban markets continues to grow as companies look to expand on the live-where-you-work model. This will only continue into 2020 and beyond.

SIORs across all markets reported strong leasing and low vacancy rates, and expect the momentum to continue into 2020.

Properties that don’t meet the walkable, suburban, amenity-rich template are struggling to fill space and outdated, unattractive office space has now become a hindrance. Companies would rather spend more on a beautiful new office space to attract and retain employees. Tenant experience will be an even bigger priority in 2020 and many SIORs expect even greater importance on amenities.

A few secondary and tertiary markets are seeing sublease activity, which can sometimes indicate a slowing economy.

Other:

As an organization, SIOR is promoting parity, diversity and inclusion by encouraging and empowering members to extend relationships with CRE professionals, especially women who have considered SIOR membership in the past or would be ideal candidates.

Overall confidence in US REITs remains high even on a global level.

SIORs are still excited about using new technology and agree that it is slowly becoming an indispensable part of conducting business, particularly in the industrial market.