Newmark Grubb Knight Frank (NGKF) today announced the Society of Industrial and Office Realtors® (SIOR) has elected NGKF Director Steve Willhite as the new president of the Oregon/SW Washington Chapter. With just under 3,100 members in 37 countries in more than 675 cities with 48 chapters, SIOR represents today’s most knowledgeable, experienced and successful commercial real estate brokerage specialists. Geoffrey Kasselman, executive managing director of NGKF’s National Industrial Practice, is the incumbent president of SIOR nationally.
A 28-year member of SIOR, Willhite is the only known member that has been the president of three different chapters, leading California’s Orange and Inland Empire Chapters prior to the Portland Chapter. Willhite was also founding chapter president of the San Diego Chapter, in addition to being a member of the SIOR Board of Directors and the SIOR Foundation Board. This experience brings a greater perspective to Willhite’s tenure as SIOR president, where his focus is on increasing the society’s value proposition.
“The Portland market is experiencing strong growth and attracting high-tech companies,” commented Willhite. “SIOR is on the leading edge of helping national users understand the marketplace’s value and appeal.” Examples include events with national economists combined with local developers, attorneys, land planners and contractors, providing a well-rounded view of Portland’s many strengths and opportunities. Training opportunities for SIOR members have grown as well. “SIOR performs a vital role in the business development process,” added Willhite. “SIOR represents the cream of the crop for brokerage, comprising senior, highly ethical producers and the most successful professionals in the industry exchanging the best ideas without regard to individual company alliance. SIOR members engage other associations such as NAIOP and local realtor associations to bring business opportunities to the market.”
Portland’s growth is especially strong in the industrial market, with rental increases of 12 to 18 percent this year. “Leasing activity is pacing with warehouse construction and both have been booming,” explained Willhite. “We’ve experienced an unprecedented growth rate for our market.” With 3.3 million square feet in development, industrial warehouse construction is at an all-time high. This momentum includes the recent commitment of Japanese car maker Subaru to opening its first distribution center in the United States. This represents the largest warehouse deal in the state. “We will continue to see demand outweigh building availability in the industrial market,” Willhite predicts.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
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