of hampton roads’ commercial real estate · patrick henry mall christopher t. aebel...

ROBERT ORLANDOPresident

Patrick Henry Mall

CHRISTOPHER T. AEBELPresident-electClark Nexsen

KENNETH E. RODMAN, JR. Secretary / Treasurer

VHB

JEREMY R. STARKEY Immediate Past President

TowneBank

JENNIFER K. MONTGOMERY Executive Director

HRACRE OFFICE Pembroke Office Park, Building 4291 Independence Blvd., Suite 120

Virginia Beach, VA 23462Phone 757-481-2494

Fax 757-481-1621Email [email protected]

Website www.hracre.org

FOLLOW US ON SOCIAL MEDIA

This year has flown by and this is a good time to reflect upon our accomplishments and look at what looms ahead in 2018. Our association made a major leap of faith in 2017 by hiring our first Executive Director with an eye toward raising our profile with our elected officials, the municipalities we do business in and our members. It has been a heavy lift starting over operationally but that is the way it shook out. I am grateful to our members, directors, staff and officers for your willingness to dig in and help out where needed this year. The great news is that Jennifer has successfully made a number of good connections in Hampton Roads in her first seven months while working to get us on our feet operationally. The addition of Evette Little to the team recently has been a breath of fresh air! We expect many great things from her as she settles into her new position. Jennifer is poised to make a greater impact in 2018 as the face of HRACRE and the executive committee is behind her 100%.Legislatively, we helped the cause to extend the vesting of undeveloped site plans for three years and stood tall against losing Historic Rehabilitation Tax Credits this year. Those tax credits will be a hot item in the 2018 session along with energy benchmarking legislation making

its way to the forefront.

I am looking forward to serving under our next president, Chris Aebel from Clark Nexsen. Chris was a great supporter this year and I hope to return the favor in 2018.

It is my great hope that you have a healthy and happy holiday season surrounded by those you love!

Sincerely,Bob OrlandoHRACRE President 2017 ፨

VoiceThe

FALL 2017 NEWSLETTER

HRACRE NEWSLETTER | FALL 2017

OF HAMPTON ROADS’ COMMERCIAL REAL ESTATE

A MESSAGE FROMOUR PRESIDENT

2017 OFFICERS

A quarterly online publication by the Hampton Roads Association for Commercial Real Estate, providing industry-related articles written by HRACRE members for professionals

in the Hampton Roads region and beyond.

By Robert OrlandoHRACRE 2017 President

01


MEMBER PROFILED. Eugene Thompson - AIAPresident & FounderIonic DeZing StudiosPhone: 757-499-3510Email: [email protected]

Wed. December 65:30 - 8:00pm

The Main100 E Main StreetNorfolk, VA 23510

Tickets for members and their guests are

$35 each

Heavy hors-d’oeuvres and two drink tickets with each admission

Name one thing about yourself that most people don’t know. A few years ago, before my first marathon and becoming a grandpa, I started a “bucket list.” It is a giant list of more than 100 items that I have been working away at for nearly five years. I have a visual display of the list in the office in Virginia Beach. I plan on posting online soon so that others can help me accomplish and/or join in my crazy adventures.

Number of years in Hampton Roads? My wife and I moved here 22 years ago with our four young children. We raised our kids here and started Ionic DeZign Studios just a few years later. This is definitely our home now.

How long have you been an HRACRE member? I became a member in 2007 and have been involved in several committees over the years.

Are you involved in any community or charitable organizations? Most people know that I’m a diabetic and started running a few years ago to help control the disease. I ran my first marathon in 2014 and expect to finish my 31st by the end of this year. Last year, we started a 501c3 to raise awareness about diabetes appropriately named Run Eugene Run.

Tell me about an accomplishment or a project that you consider to be the most significant in your career. There isn’t a single project that I’m more proud of than others. What I feel the most pride in is the organization that IONIC has become. Over the last 18 years, we have been fortunate to grow and attract a team of creative and talented individuals that I can call my family. They support

our vision and the culture we have developed to foster real relationships with our clients. They have been crucial to the very success of IONIC.

What do you “know now” that you wish you “knew then”? The realization that learning can be so much fun. Over the last few years, I’ve dug deeper by reading books about bettering the business and becoming a better leader. This thirst for knowledge has pushed me further into growing and expanding the business along with sharing what I’ve learned with others.

Why did you join HRACRE, and how has your membership benefited you? I began my involvement with HRACRE for the opportunity to share IONIC with others through its many occasions to meet people and build relationships. I initially had no clue about how to engage in “networking.” Since then, HRACRE has spawned numerous fond relationships and business partnerships. The organization has introduced IONIC to the community.

If you could give a new member one piece of advice regarding his/her HRACRE membership, what would it be? Don’t hesitate to join a committee and get involved. You get out what you put in. The more you participate in HRACRE, the more benefits you’ll be rewarded with. The more you give, the more you will receive. “(Givers) love to give. That’s why they’re attractive. Givers attract.” ፨

DON’T MISS HRACRE’s 25TH ANNUAL HOLIDAY PARTY!


It is an honor to chair the Hampton Roads Caucus, a bicameral, bipartisan group of legislators representing one of the Commonwealth’s most vibrant regions.

The Hampton Roads Caucus is comprised of 33 members of the Virginia General Assembly who represent areas of Tidewater including the Eastern Shore, Virginia Beach, Chesapeake, Norfolk, Portsmouth and Suffolk, as well as Hampton, Newport News, Poquoson, Yorktown, and Williamsburg.

The Hampton Roads Caucus meets weekly when the General Assembly is in session, inviting speakers from throughout the Commonwealth to present on matters affecting the region. In addition, the Caucus meets several times per year outside of session, to ensure that ideas and critical needs of the area are being shared.

Members are encouraged to discuss legislation and budget items that will directly impact the Hampton Roads community. Topics such as transportation, the Atlantic Coast Pipeline, tourism, education, and sea level rise have been discussed, and representatives from various local organizations like NASA, the Port of Virginia, city government, local realtor groups, and the military join us each week.

THE HAMPTON

ROADS CAUCUS

by Senator Bill DeSteph

Bill DeSteph, Virginia Senator, 8th District

Recently, the Governor’s office announced expansions at both LifeNet and STIHL, companies with national headquarters located in Hampton Roads. Since both these businesses are in my district, I was pleased to be quoted in the governor’s press releases. Regarding STIHL, “I am honored to count STIHL Inc. among the corporate citizens of my district. As a city councilman, a delegate, and now a state senator, I have witnessed first-hand STIHL’s many contributions to our community. With this expansion, STIHL affirms its commitment to the City of Virginia Beach and the Commonwealth, providing invaluable economic resources that go far beyond our region. As chairman of the Hampton Roads Caucus, I am especially pleased with the long-term advantages this expansion affords our area, and look forward to more good news from STIHL as they continue to enrich our community.” Expansions such as these provide tremendous advantages to our region and beyond.

The Hampton Roads Caucus is committed to ensuring the growth and vitality of our

local community, and supports initiatives that promote the prosperity of our region and its citizens. Our meetings are open to the public and we invite you to attend.

For more information about the Hampton Roads Caucus, please call our office at 757.321.8180 or 804.698.7508, or email [email protected]. ፨

TowneBank offers a full array of financial services from the oceanfront of Virginia Beach, to the Outer Banks of North Carolina, to Williamsburg, Richmond, and Central Virginia. The best part? Towne Family members enjoy the finest personal service delivered with a great hometown spirit. With 37 banking offices and $7.83 billion in assets, Towne Bank has become one of the largest banks headquartered in Virginia. But they’ve never lost sight of their roots. Local decision-making; community board leadership; volunteerism, philanthropy, and a culture of caring – it’s all part of the Towne experience.

Visit us at www.TowneBank.com

For more information regarding sponsorship opportunities, see page 10 of the newsletter or call us at (757) 481-2494

HRACRE 2017 GOLD SPONSOR

As we are f ine tuning and pol ishing the HR ACRE Legis lat ive Agenda and mater ia ls in preparat ion for the 2018 legis lat ive session , I thought i t might be helpful to share some thoughts on what Board and Commit tee Members are being asked to do to aid the cause. Months ago, the not ion of going to R ichmond to ta lk to legis lators and lobby on behalf of - wel l , ourse lves - l ike ly seemed a lot less daunting than i t does now as the end of the year t ime crunch is bear ing down on us . And let ’s face i t , months ago i t seemed so far away and not so di f f icul t a task . Talk ing with legis lators . Decis ion makers . Law makers . Now, i t might seem to some a l i t t le more int imidat ing. I understand ful ly !

How do we overcome the apprehension of approaching the decis ion makers? We remember that they are people , too. As ci t izen legis lators , they need us to educate them on the issues before them. They can’t know i t a l l , and our HR ACRE members are the exper ts .

Phi l Abraham is a wonder ful professional lobbyis t , but he cannot do i t a l l . Legis lators a lso want to hear f rom their const i tuents - the voters in their dis tr ic ts . That is why some of the recent ef for ts by our Execut ive Direc tor, Jennifer Montgomer y, and the Legis lat ive Commit tee to develop and implement tools for the legis lat ive process must have the suppor t of our HR ACRE members .

One of the impor tant tools is set t ing up a roster that documents which legis lators represent each of our

members . With this tool , we are able to ask our members to contr ibute to HR ACRE legis lat ive ef for ts by reaching out to the Delegates and Senators who represent them in their dis tr ic ts . Dur ing the fast-paced General Assembly session , knowing this information and direc t ing targeted outreach and advocacy to legis lators wi l l be ver y impor tant and ef fec t ive .

Many of our HR ACRE members may be think ing that lobbyis ts and lobbying are “dark s ide” ac t iv i t ies . That lobbyis ts are f rowned upon. Or, “ I can’t be a lobbyis t!”

Not true, and here’s why. You already are lobbyis ts! Many of us have interests or passions outside of our occupat ions . We l ive and work with other people . We lobby for our ideas to be heard, ac t ions to be taken , minds to be changed. We compromise or negotiate . We advocate for our passions .

In some way, we lobby, compromise/negotiate and advocate ever y s ingle day. And the number one reason to advocate – or lobby – for the HR ACRE Legis lat ive Agenda is because i t is your l ive l ihood. Your l ive l ihood may also be your passion , but i t is a lso what feeds and shelter s your famil ies , and what makes a wonder ful communit y in which to l ive and work . What is more impor tant than that? Why wouldn’t you want to communicate direc t ly to the legis lators , decis ion makers , or law makers who would af fec t your l ive l ihood?

I f not you, then who? ፨


By Angie Bezik, President & CEO, Principle Advantage Government Relations GroupPhone: (757) 754-5596Email: [email protected]

LOBBYING AND COMPROMISE AND ADVOCACY – Oh, My!

11.09.2017

HARD HAT TOURAT THE ICON IN DOWNTOWN NORFOLK

>> More pictures soon available atwww.hracre.org/gallery


MEMBER NEWS

2018 LEGISLATIVE PRIORITIES

HRACRE would like to extend best wishes to Susan Horton who is retiring from

Virginia Business on December 15 after 30 years of service. Susan has served on

HRACRE’s Board of Directors for 13 years, she served on the Executive Committee and she is also a past Communications

Committee Chair. She has been a member of our organization for over 20 years.

Please join us in wishing Susan well as she starts a new chapter in her life.

GOT NEWS? Send your member news items to [email protected]

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing retail properties with a primary focus on grocery-anchored centers. Wheeler’s portfolio contains well-located, potentially dominant retail properties in secondary and tertiary markets that are generally leased by nationally and regionally recognized retailers of consumer goods and that generate attractive risk-adjusted returns.

Visit us at www.whlr.us

HRACRE 2017 GOLD SPONSOR

BELOW IS A LIST OF HRACRE’S TOP LEGISLATIVE PRIORITIES FOR 2018:

Transportation Funding

(a) Support adding a floor to the regional gas tax computation formula in 2018; (b) monitor funding sources for transit fiscal cliff and oppose use of recordation and grantor taxes to resolve problem; (c) sup-port funding the widening of the “miss-ing link” of I-64 between Lightfoot and Bottoms Bridge; and (d) preserve funding for Amtrak Train No. 2 to Norfolk for its 2018 launch.

Economic Development Funding

(a) Oppose efforts to divert money from the Commonwealth Opportunity Fund and other existing economic develop-ment initiatives to fill budget gaps and (b) support GO Virginia, Ready Sites, local economic development programs and state Enterprise Zones, and oppose cutting or eliminating their funds.

Historic Rehabilitation Tax Credits

Oppose any legislation or budget provi-sions that would reduce or eliminate their use in Virginia.

Recurrent Flooding/Sea Level Rise

Strongly support legislation (a) to help Vir-ginia and its localities address and manage recurrent flooding and sea level rise, (b) to promote and fund cost-effective resiliency programs and physical improvements, and (c) to create a Cabinet-level Secretary for Resiliency.

Ground Water Permitting

(a) Monitor legislation for ground water withdrawal permitting and availability and irrigation restrictions; (b) support protec-tion of aquifers as an economic develop-ment resource; (c) support HRSD’s Sustain-able Water Initiative for Tomorrow (SWIFT) research project; and (d) encourage a study of extremely high ground water

withdrawal users and establish a baseline for the cost/benefit of continued high ground water withdrawals by such users vs. the risk it poses to future economic development.

Storm Water

Support storm water management leg-islation which (a) balances water quality/quantity objectives while not overly intruding on owners’ property rights; (b) recognizes and addresses the distinctions in storm water management solutions between the Mountain, Piedmont and Coastal Plain provinces of the Common-wealth; and (c) fixes erroneous formulas in the existing storm water laws and DEQ regulations.

Land Use Issues

(a) Oppose legislation authorizing ade-quate public facilities requirements or in-creased authority for traffic-related impact fees and (b) monitor proffers legislation.

1

3

4

5

6

7

2

For more information regarding sponsorship opportunities, see page 10 of the newsletter or call us at (757) 481-2494


Energy

(a) Support legislation that enhances ener-gy security and surety of supply for Hamp-ton Roads; (b) monitor energy legislation addressing carbon emissions, renewable sources, and energy efficiency programs; (c) support legislation that promotes low energy pricing, abundant energy availabil-ity and use of renewable power; and (d) oppose legislation authorizing localities to establish an energy benchmarking and dis-closure program for commercial buildings.

OTHER LEGISLATIVE PRIORITIES, NOT RANKED IN ANY ORDER:

Redistricting. Support a non-partisan redistricting system in Virginia.

Broadband Expansion. Support legisla-tion to expand and facilitate broadband and ultra-high speed internet service in Hampton Roads.

Building Revitalization Grant Fund. Support creating such a fund. ፨

8

continued from page 5

2017 VIRGINIAELECTION

POSTMORTEM

The 2017 Virginia Elections produced results few expected. Governor-elect Ralph Northam won election by a margin that far-exceeded most polls and Virginia Democrats picked up at least fifteen seats in the Virginia House of Delegates, nearly erasing a 32-seat majority currently held by Virginia Republicans. This article reviews key statistics from election night, what the elections teach us and what they mean for the 2018 Virginia General Assembly.

ELECTION RESULTS

Virginia Democrats not only swept all three statewide offices on November 7, 2017, they transformed the current 66-34 Republican super-majority into 51-49 bare majority. These results could turn into a 50-50 tie if Virginia Democrats prevail in one of three likely recounts.

Governor-elect Ralph Northam defeated Ed Gillespie by nine percent in an election most pre-election polls found within the margin of error or Northam winning by three to five percent. Northam beat Gillespie by nearly 234,000 votes, very close to the margin Clinton defeated Trump in Virginia in the 2016 Presidential election where turnout was 72 percent. Turnout in the Virginia Governor’s race was only 47% but that was the highest rate for a Virginia Governor’s race in nearly 20 years.

The Northam victory was fueled by urban Virginia. Turnout surged in Northern Virginia by 12% and by 9% in Hampton Roads over the last Governor’s race in 2013. Combined, Hampton Roads and Northern Virginia accounted for more than fifty percent of the total

By Phil AbrahamDirector & General Counsel

Vectre CorporationPhone: 804-644-6600

Email: [email protected]

vote. Virginia Republicans continued to lose ground in areas once considered Republican strongholds. Gillespie lost Virginia Beach by 6380 votes and lost two Virginia Beach House of Delegates seats while Republicans won Virginia Beach by 2000 votes in 2013. Northam won Chesterfield County by 694 votes while Republicans won it by 8000 votes in 2013. The last time a Democratic candidate for Governor won Chesterfield County was in 1961.Even worse for Virginia Republicans, the strongholds for Virginia Democrats became even more blue. Seven incumbent Republican legislators were defeated in Northern Virginia leaving only two Republican House members in Northern Virginia, with one of them winning by only 115 votes. Northam won Fairfax County by a margin of 138,000 votes and 68% of votes case. Similarly Northam won Norfolk, Hampton and Newport News by margins of 73%, 72% and 65% and margins of 26,000, 17,000 and 14,000 votes, respectively.

Rural Virginia simply lacks the population to overcome these kind of margins in urban Virginia. For example, Gillespie’s 77% margin in Russell County and Patrick County netted him only 3600 and 3000 votes, respectively. A 72% margin in Page County only helped Gillespie by 3000 votes.

THANK YOUTO OUR

NEWSLETTER SPONSOR

>


FIVE LESSONS LEARNED

The 2017 elections taught or reinforced five lessons for observers.

First, your vote really does matter. Four House of Delegates races were decided by 125 votes or less. David Yancey (R-Newport News) currently holds a 10-vote margin of victory out of more than 23,000 votes case, a margin of 4/100 of a percent.

Second, don’t believe the polls or the pundits. As if we didn’t learn that lesson in 2016, it became clear again in 2017. No poll close to election day predicted a nine-point margin of victory for Northam and most observers predicted a pickup of 3 to 5 House seats for Virginia Democrats.

Third, success for Republicans in statewide elections in Virginia requires at least respectable performance in urban Virginia. Urban Virginia today accounts for the vast majority of the votes cast in statewide elections. Virginia Republicans have to at least keep things close in urban Virginia if they are to win. Gillespie did that when he ran for the Senate against Mark Warner but failed to do so this year.

Fourth, the “Virginia Curse” is alive and well. Except for 2013, in each Governor’s race since 1976 the party who lost the Presidency won the Virginia Governor’s race that followed the next year. Presidential voters have short memories and high expectations and this never bodes well for the party in power in Washington when it is time for Virginia to elect its next Governor.

Fifth, President Trump is currently a major drag on Virginia Republicans. He propelled a larger-than-normal number of challengers to Republican incumbent legislators. Many of these challengers not only succeeded but they drove up the pro-Northam vote. Those legislative districts where incumbent Republicans saw challenges had a 20% increase on average in the number of votes cast for the Democrat.


WHAT ELECTIONS MEAN FOR THE 2018 SESSION

When the 2018 Virginia General Assembly convenes on January 10 it will be much more diverse and more reflective of Virginia’s population. There will be eleven more women, the first Latina member, the first Asian-American woman in the Assembly and the first transgender legislator in the entire country.

With 19 new House members, a nearly 20 percent turnover, there will be a significant loss of institutional memory and many changes in leadership positions and in the membership on key committees. Seventeen of the House members who lost or retired account for 178 years of combined experience. One was Speaker of the House and four were committee chairman. There will be seven new members of the House Appropriations Committee and five new Subcommittee Chairman of that committee.

House rules require proportionality in the composition of committees. This means that committees that currently have an eight-vote Republican margin may only have a one-vote margin (or even a tie if the Democrats pick up one seat in a recount). This means many close votes in committee and on the House floor and every member of the House having the power to flip a vote by breaking with their party.

Virginia Democrats will likely spend the next few weeks trying to identify a Republican from a Democrat-leaning seat in the House and Senate who would be willing to join the Northam Administration and give Virginia Democrats the chance to take control of the House and/or the Senate in a special election. This type of horse-trading occurred most recently during the Gilmore Administration and Hampton Roads may be a focus of such activity.

Finally, close margins of control generally mean it is more difficult to pass controversial legislation. While progressive issues such as Medicaid expansion and raising the minimum wage

may have a new lease on life with the increase numbers of Virginia Democrats in the House, it will generally be more difficult to pass legislation that falls on the extreme ideological spectrum. Governor-elect Northam will continue to have veto-proof majorities in both the House and Senate which is a power Governor McAuliffe frequently wielded in recent years.

The 2018 Virginia General Assembly Session will be one of great change and excitement. I look forward to continuing to represent the interest of VACRE, HRACRE its other member chapters as the Session unfolds. Together we will work to make sure that Virginia continues to support and grow commercial and industrial development across the Commonwealth. ፨

HRACRE WELCOMES

Evette joined HRACRE in October 2017 as Office Administrator, taking over for Gia Freeman who left the organization to pursue new endeavors. Evette will be assisting Jennifer Montgomery,

Executive Director, in daily operations at the HRACRE headquarters in Virginia

Beach. If you haven’t had the chance to meet her yet, you can make her

acquaintance at the HRACRE Holiday Party in Norfolk on December 6.

Please join us in welcoming Evette to the HRACRE team!

HRACRE LOBBY DAYwill be held on

Wednesday, January 24 at the Virginia General Assembly in Richmond

Evette Basnight-Little

NEW EMPLOYEE ANNOUNCEMENT

SAVE THE DATE


BUILDING THE NEW VIRGINIA ECONOMYBy Todd P. Haymore, Secretary of Commerce & Trade

Through Governor McAuliffe’s nearly four years in office, Virginia has made significant progress diversifying the economy and spurring job creation through the joint efforts of the administration, the General Assembly, and the private sector. The tangible improvements can be confirmed through substantial job growth, a drastic drop in the unemployment rate, and a record amount of capital investment to the Commonwealth. I am the first to admit there is more work to be done transforming an economy hampered by sequestration following decades of overreliance on federal spending.

However, the Governor and General Assembly should be commended not only for helping Virginia’s economic turnaround, but for creating the infrastructure for a new, diversified economy.

Traditionally, Virginia has enjoyed the benefits of a robust economy and the distinction of being “one of the best states for doing business.”

However, after the housing market collapsed in 2008, Virginian’s – like so many others – felt a series of profound negative economic shocks.

Private and public-sector leaders began working to find the tools to fix our struggling economy.

Early economic analysis highlighted three foundational issues.

First, Virginia has been too reliant on federal spending.

Multiple rounds of sequestration and continued reductions in federal spending have led to the reduction of high-paying jobs in many of the Commonwealth’s regions.

Second, Virginia has been less effective than other states in our post-recession economic recovery, partially because our economic strength was dependent on federal spending. Third, even though Virginia has recovered over 300,000 jobs that were lost during the recession – the average job now contributes nearly $40,000 less to the state’s economy, which has resulted in a

downdraft in our state’s economy.

With these issues identified, Governor McAuliffe, the General Assembly, and senior business leaders believed GO Virginia would be a tool that would be beneficial to shaping The New Virginia Economy.

Realizing that Virginia is not a single state economy, but rather an aggregate of its regional economies, the GO Virginia State Board developed a purpose statement – “to create more high paying jobs through incentivized regional collaboration to diversify and strengthen the economy in every region of the Commonwealth.”

When we grow and diversify the regional economies, the Commonwealth will prosper as a whole. GO Virginia – Growth and Opportunity for Virginia – is a unique economic development initiative that emerged in 2015 as an effort to address some of Virginia’s significant economic challenges.

This new program offers state incentives for local and regional collaboration to address the diverse economic challenges


in each of nine (9) administrative regions in the Commonwealth.

The end goal – to stimulate the economy through the creation of high paying jobs by getting each region to grow and diversify its economy based on prioritized, sustainable industry strengths and opportunities.

These regions are represented by self-selected “Regional Councils” responsible for coordinating project applications and grants.

By statute, the regional councils must have a majority of their representation drawn from the private sector.

With business leaders leading the effort, the councils also include: local educators, civic and community leaders, economic and workforce development professionals, local government officials.

Earlier this year, the regional councils drafted regional economic growth and diversification plans, resulting in an economic analysis and honest assessments of the economic, workforce, and structural barriers to creating higher paying jobs in the region.

The 24-member GO Virginia State Board will provide grants to regions to fund projects they identify as vital to their efforts to diversify the regional economy, strengthen their workforce, and support collaborative programs between at least two or more localities that will lead to the creation of higher paying jobs – defined as those that are above the median wage in each region.

The nine regions currently have two grant funding opportunities: a regional population based allocation which the region will use to implement projects that align with their Growth and Diversification plan; and a competitive allocation which will be awarded to regions that collaborate on multi-regional opportunities.

GO Virginia is not just another grant program; it has the potential to be transformative for economic development in Virginia.

Business leaders, economic developers, educators, and local governments are collaborating in new ways to find the best path forward.

These new collaborations and strategic investments in each region will serve as the platform for economic growth in Virginia for generations to come.

When Governor McAuliffe took office in 2014, Virginia was still dealing with significant impacts from the Great Recession and federal sequestration cuts that cost the Commonwealth thousands of jobs and billions in economic activity. At that time, Virginia’s unemployment rate was 5.4% and the state had added a mere 1,500 net new jobs during 2013. The Governor ran on a promise to diversify Virginia’s economy and he got right to work with the General Assembly on a policy agenda to do just that. Since then, Virginia’s economic outlook has improved considerably. For example, Virginia added 44,400 net new jobs in the past year, contributing to the 207,000 that have been created since January 2014. The unemployment rate has fallen to 3.6% and there are more jobs right now than at any other time in Commonwealth’s history. In addition to the work being done domestically, the Governor has traveled the globe to recruit new businesses and find new markets for our products.

These efforts have resulted in increased exports and a record of more than $18.79 billion in new capital investment that will flow through our economy for years. We are making great progress – but there is work yet to be done.

Both the Governor and legislators understand that in order for Virginia to build a new, more diversified economy, we must continue to invest in our infrastructure and cultivate a business climate that attracts the best and brightest individuals and companies.

Todd P. HaymoreSecretary of Commerce & TradeP.O. Box 1475Richmond, VA 23218Phone: [email protected]


GO Virginia will be an important tool to do just that.

And I know the Governor and General Assembly remain committed as ever to working with the private sector to continue these positive trends in investment and job growth and make Virginia the best place to live, work, and raise a family. ፨


2018 CORPORATE SPONSORSHIP PACKAGE

BRONZE$1,500

SILVER$3,000

GOLD$5,000

The HRACRE Sponsorship Committee is pleased to announce our Corporate Sponsorship Packages being offered to member firms for the calendar year of events for 2018. This one-time commitment will provide your firm maximum exposure at our most popular events and on our website throughout the year. You will no longer be contacted by our committee chairs for support of individual events. To become a Corporate Sponsor, please contact Jennifer Montgomery, Executive Director at [email protected].

OYSTER ROAST2 tickets • May set up your own table •

May hang banner • Logo on flyer • Logo on sponsor board

MIX & MINGLE2 tickets • May set up your own table •

May hang banner • Logo on flyer • Logo on sponsor board

GOLF TOURNEY 4SOME4 rounds of golf • Name on sponsor board

• Hole sign

EXCELLENCE IN DEVELOPMENTDESIGN AWARDS

6 tickets • Logo on flyer/program supplement • Logo on flyer/sponsor board

• Recognition in PPT presentation

HOLIDAY PARTY2 tickets • 6 extra drink tickets • Named

sponsorship • Logo on flyer/sponsor board

MEMBERSHIP DIRECTORYHomepage banner ad

NEWSLETTERLinked logo in 3 issues

SCHOLARSHIPGold recognition at closing lunch

OYSTER ROAST1 ticket • May hang banner •

Logo/company name on flyer • Logo on sponsor board

MIX & MINGLE1 ticket • May hang banner •

Logo/company name on flyer •Logo on sponsor board

GOLF TOURNEY 2SOME2 rounds of golf •

Name on sponsor board


4 tickets • Logo/company name on flyer/program supplement • Logo on sponsor board • Recognition in PPT presentation

HOLIDAY PARTY2 tickets • 2 extra drink tickets •Logo/company name on flyer •

Logo on sponsor board

MEMBERSHIP DIRECTORYOne online side ad

NEWSLETTERLinked logo in 2 issues

SCHOLARSHIPSilver recognition at closing lunch

OYSTER ROAST1 ticket • May hang banner •

Logo/company name on flyer • Logo on sponsor board

MIX & MINGLE1 ticket • May hang banner •

Logo/company name on flyer •Logo on sponsor board

GOLF TOURNEYNo golf included


2 tickets • Logo/company name on flyer/program supplement • Logo on sponsor board • Recognition in PPT presentation

HOLIDAY PARTY2 tickets • Logo/company name on flyer •

Logo on sponsor board

MEMBERSHIP DIRECTORYOne online side ad

NEWSLETTERNot included

SCHOLARSHIPBronze recognition at closing lunch

H a m p t o n Ro a d s A ss o c i a t i o nf o r C o m m e r c i a l R e a l E s t a t e

LUNCH PRESENTER SPONSORSHIPLogo displayed prominently on event flyers, logo on sponsor board, may introduce speakers, will be verbally acknowledged at each event, will be included in all promotional materials.

$5,000FOR ALL LUNCHEONS

1 AVAILABLE

of hampton roads’ commercial real estate · patrick henry mall christopher t. aebel...

Documents