Our last Members Only Workshop of the year was on 12/1/2023 at the Las Vegas Realtors sponsored by Commercial Alliance Las Vegas. AI in Commercial Real Estate: Leveraging the Technology. Speakers were:
Victory Igbinobaro
Co-Founder/CEO
AeroAI
Preston Martin
Project Manager – Land Acquisition
Lewis Operating Corporation
Timothy May
Principal
Insight Sciences Corporation
Moderated By: Chris Wiesen
President
BLT SMRT, LLC
Introduction:
As the year draws to a close, NAIOP’s education series culminated in a timely and thought-provoking panel discussion on artificial intelligence (AI) and its role in shaping the future of work. This final installment in the series underscored the growing relevance of AI in the industry, as evidenced by the high attendance and keen interest of the participants.
Panel Discussion Overview:
The panel explored a spectrum of AI-related topics, starting with an introductory overview of AI concepts. This laid the foundation for deeper discussions on accessing AI services, the fundamentals of AI implementation, and the considerations for developing custom AI tools.
Key Questions Addressed:
The panelists engaged in an interactive Q&A session, addressing pressing concerns such as:
- Ethical and privacy considerations in AI deployment.
- Strategies for staying abreast of emerging AI models and technologies.
- Safeguarding proprietary information in an AI-driven landscape.
These questions highlighted the audience’s eagerness to understand AI’s implications in a broader context.
Main Takeaway:
A central theme emerged from the discussion: there exists a significant appetite for knowledge about AI’s capabilities and potential. Much like the underutilized potential of everyday tools like Google Search, the vast majority of people are yet to fully comprehend what AI can achieve. The consensus was that hands-on experimentation with AI tools is essential for understanding their possibilities and limitations.
Looking Ahead:
As AI technology continues to evolve, NAIOP is committed to keeping its members informed and at the forefront of technological advancements. We anticipate further engaging and informative discussions as we continue to explore the ever-changing landscape of AI.
Conclusion:
The panel not only provided valuable insights into AI but also sparked curiosity and a desire to learn more among the attendees. It marked a fitting end to this year’s education series, setting the stage for continued exploration and discussion in the realm of AI and its impact on our industry.
Click HERE for the PowerPoint from the program.
NAIOP Education Committee Member & Workshop Moderator:
Christopher Wiesen | President
BLT SMRT, LLC | BIM Solutions & Software
chris@bltsmrt.com | 702.744.7848
www.bltsmrt.com
Clark County vacant land auction January 29-31, 2024.
NAIOP Southern Nevada held its 2023 “The Race for Space” Bus Tour at The Orleans Hotel & Casino on Wednesday, November 1, 2023. The annual event offered an overview of Southern Nevada’s commercial real estate industry and local developments. Instead of touring attendees on buses, those participating in this year’s event were assigned to a virtual “bus” traveling through four sponsored zone rooms that included a video flyover highlighting new developments within specific segments of the market.
Event photos are here.
The Property Guidebook is here.
Flyover videos from each of the 4 tours here.
NAIOP Southern Nevada held its 2023 “Once Upon a Time” Bus Tour at The Orleans Hotel & Casino on Thursday, November 10, 2022. The annual event offered an overview of Southern Nevada’s commercial real estate industry and local developments. Instead of touring attendees on buses, those participating in this year’s event were assigned to a virtual “bus” traveling through four sponsored zone rooms that included a video flyover highlighting new developments within specific segments of the market.
Event photos are here.
The Property Guidebook is here.
Flyover videos from each of the 4 tours here.
The Bureau of Reclamation (BOR) is projecting slightly improved conditions along the Colorado River, which will ease federally-declared water cuts for Southern Nevada next year. The BOR will move from a Tier 2 to a Tier 1 level water shortage beginning in January 2024.
Southern Nevada’s water supply will be reduced by 7 percent under the Tier 1 conditions. Under the current Tier 2 reductions for 2023, Nevada’s Colorado River water allocation was reduced by 8 percent.
While local water demands continue to be well below the shortage volumes, water conservation remains one of the most effective tools to protect the community’s water supply. The Southern Nevada Water Authority (SNWA) recently augmented two of its water conservation incentive programs to help the community save water.
The SNWA increased its incentives for Water Efficient Technologies (WET) projects to improve the efficiency of existing evaporative cooling systems. The incentive changes include removing the $500,000 annual cap for evaporative cooling system upgrades or replacements. The total WET incentive will continue to cover up to 50 percent of the total project cost.
To expand and diversify the community’s urban tree population and to help reduce the impacts of a warming climate, the SNWA added a cash incentive of $100 per new tree planted as part of a Water Smart Landscapes project.
The tree rebate is in addition to the $3 per square foot incentive for replacing grass with drip-irrigated landscapes. Residential, business, multifamily and HOA properties participating in the WSL rebate automatically will be considered for the tree incentive as part of the program enrollment (some restrictions apply).
For more information about the WSL and WET rebates, visit snwa.com.
For more information about how your business can be part of the conservation solution, visit snwa.com.
As the leaves begin to change colors and the air becomes crisp, we are excited to bring you our NAIOP Fall Newsletter filled with several exciting events and donation opportunities coming up this holiday season!
Throughout the month of October, our committee focused on gathering donations for the upcoming Helping Hands Food Drive. Helping Hands of Vegas Valley is a local non-profit whose mission is to improve the quality of life for senior citizens and their families. We’ve asked our members for new non-perishable, canned/dried goods, pastas, snacks, and paper items for donation. We collected a ton at our October Breakfast Program. If you missed donating, the Amazon Wish List is still live: SCAN HERE TO ORDER TODAY!
The committee is gathering onsite at the Helping Hands Warehouse to help assemble emergency packages for their home bound seniors who are in need this month.
The committee will also be partnering with Communities in Schools for the annual Thanksgiving Family Meal Collection and delivery. The committee will be collecting food and monetary donations that will be used to provide families their Thanksgiving meals and stock their pantries for weeks to come. This is a really fun event for committee members and their companies who decorate each of the boxes and fill to the brim with nonperishable food and then meet at the Walter V. Long Elementary school with nearly 40 meals donated. Together, we are making the difference in the lives of those in need.
We love celebrating the achievements and contributions of our members!
The committee recently wrapped up yet another successful Back to School Drive for Hollingsworth Elementary. Amazing job to our entire community on yet another successful drive. The group collected over 150 backpacks and numerous supplies as well as $1,077 in monetary donations that will support the students of Hollingsworth Elementary for the 2023-2024 school year.
We would also like to thank everyone who participated in the Communities in Schools Scholarship Application Fundraiser and Knots Tied Down Donations, which aided in collecting donations for scholarship applications as well as gently used professional attire. Together, we were able to raise over $2,100 in donations for Communities in Schools that will assist graduating high school students offset the cost of college application fees, as well as heaps of gently used business attire for these students. In addition, the group collected 650 pieces of professional clothing for Knot Tied Down Donations. Your generous donations will aid students and teachers this school year and beyond!
Thank you for being a part of our community. We appreciate your continued support and look forward to sharing more exciting news and volunteer opportunities with you in the coming months.
Contact any committee member for more information about past or upcoming events and how you can take part in the committee.
Check out our recent events here.
Megan McInerney
Associate Vice President | Las Vegas – Office Division
Colliers International
(702) 836-3700 | megan.mcinerney@colliers.com
Lauren Willmore
Associate
CBRE | Industrial & Logistics
(702) 369-4825 | lauren.willmore@cbre.com
DLI Class #10 – Economic Development & Challenges
On July 10, 2023, the President and CEO of the LVGEA delivered an insightful presentation to our class. She discussed various aspects of local economic development, market growth, business incentives, challenges, and prevailing trends that impact the commercial real estate sector. Her presentation also delved into Las Vegas’s new Entrepreneurial Development Strategy and the qualities that make a company a suitable fit for pursuing opportunities in Las Vegas. We deeply appreciated the expertise and valuable insights shared by this thoughtful leader.
Thank you to Affordable Concepts for sponsoring this informative session.
DLI Class #11 – The Art of Public Speaking
Our most recent DLI class, held on August 14, 2023, focused on the art of public speaking. Art Greene from GES led the session, discussing the key attributes that contribute to exceptional public speaking. Every participant took on the challenge of delivering speeches on a variety of topics before their peers. This task is not always easy, but the class rose to the occasion and demonstrated impressive performance.
We extend our thanks to GES for their time and for sponsoring this invaluable class.
Group Presentations
On September 11, 2023, each of the four groups had the opportunity to present their pitches to “The Dudes.” Each group was allotted 15 minutes for their pitch, followed by a 15-minute Q&A session. “The Dudes” took their roles as judges seriously, posing challenging questions to ensure that each group had conducted thorough Due Diligence on their projects. It was evident that significant time and effort had been invested in these presentations, and the feedback from the judges was highly positive. However, as there can only be one winner, we enthusiastically congratulate the victorious team: 5 Guys Development Co., comprising Morgan Elson, Cooper Powell, Chris Molina, Mark Philippi, and Wade Lucas. Their winning project featured an impressive 238,400 square feet of industrial space on a 13.27-acre site situated at the SEC of Bruner Avenue and Bermuda Road.
Congratulations to the Developing Leaders Institute Class of 2023! Your diligent efforts have truly paid off, and you’ve achieved this milestone. Well done!
DLI Class Vice President
Megan McInerney
Associate Vice President
Colliers International
Direct 702 836 3700
Megan.McInerney@colliers.com
The August NAIOP Members-Only Education Program, Legislative Pool Party – Deep Dive into the 2023 Legislative Session, was held on August 25th and sponsored by Argentum Partners. Hosted by Kerry Kramer and John Leleu the program provided an overview of the 83rd session of the Nevada Legislation that commenced in February. While there was optimism that there would be bi-partisan agreements during the session, it was glaringly apparent from the get-go that any hope of balance and communication would quickly be dashed by national political talking points, partisan politicking, in-fighting amongst the parties and between the houses, and huge last-minute policy issues that ultimately derailed the 2023 Session straight into 2 Special Sessions, and the prospect of a third later in the year. In total, of the 1,044 bills voted on in the session, 610 (58%) were passed by legislature, 535 were signed (88%) and 75 (12%) were vetoed.
Some of the signed legislation that would have an effect on the Commercial Real Estate market included:
- AB 210 – Electronic documentation requirements for prevailing wage payments.
- AB 50 – Enhanced penalties for organized retail crime.
- SB 30 – Protection of public safety regarding the sale of Healthcare related data without consent.
- SB 281 – Increased transparency for rate changes from natural gas utility companies.
- AB 448 – Removed exemptions that allows a company with the same ownership to purchase or transfer a property for the purpose of avoiding the payment of the Real Property Transfer Tax.
Overall, the program was very informative and provided NAIOP members in attendance a behind the scenes look into the Nevada Legislative process. The 2023 Post Legislation Session review is here.
The Members-Only Education programs are planned by the Education Committee who meet monthly to plan several exclusive Member’s Only workshop each year. The goal is to keep our members up-to-date and in the know of current happenings in commercial real estate in Southern Nevada. This committee focuses on unique content which is aimed to evoke in depth conversation within our workshops and provide one of NAIOPs best networking opportunities. If you would like more information about the Education Committee or on upcoming education programs contact Jennifer Turchin at Jennifer@codagroupinc.com or 702-795-2285.
Checked out our upcoming Friday, December 1st Members Only Workshop here. AI in CRE: Leveraging Technology. Join us to hear our panel delve into the world of Artificial Intelligence and Machine Learning. In this workshop, we’ll explore how companies incorporate AI into their daily workflows and discus the future direction of the industry.
Matthew Weinberger
Martin-Harris Construction
Director of Business Development
702-474-8209 Direct
matthew.weinberger@martinharris.com
Name: Melissa Eure
Title: President
Company: G.C Garcia, Inc.
# years in the industry: 8
Where are you originally from and how long have you lived in Las Vegas:
I’m originally from Kansas City, KS and have been living in Las Vegas for 32 years.
What has NAIOP provided you that has helped you grow professionally or personally?
Access to others in the same or related industries. If I need a contractor, an engineer, a realtor I can find one at a NAIOP event. The breakfast and the learning events also help me get a better understanding of current events affecting our field.
What has been your favorite experience or story that happened at NAIOP event?
At one of the golf tournaments, we sponsored the ‘hole in one’ contest and to make the shot more difficult, they added a toilet seat. It made it rather memorable and fun.
Who have you met at a NAIOP event that has influenced you or that you have become close friends with?
Carol Browning with DC Building Group. She is an amazing person. She was very open and friendly with someone she had never met and helped introduce me to others. She serves on at least one committee with every organization she is a part of, in addition to her regular job. I have no idea where she gets the time or energy. Most of all, we share a love for animals and dogs. I serve on the board of the Heaven Can Wait Animal Society and she, along with everyone at DC Building, have been happy to support me and the organization.
What do you want your legacy to be in the Southern Nevada community?
To expand the company my father started, to be remembered well, and to have used my position not only to help create a healthy community through the work we do with developers and the local municipalities but by giving back to our community in ways I and my employees find meaningful.
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