TUCSON, Arizona — This year’s 26th Annual Southern Arizona CCIM Forecast Competition will be sponsored by Platinum Sponsors, University of Arizona’s, Master of Real Estate Development (MRED) in conjunction with Larsen Baker, LLC. A unique partnership of exchange between the local Southern Arizona CCIM Chapter and the UA MRED program formed several years ago, with CCIM instructors participating in real-life applications with MRED students.
The Southern Arizona CCIM Forecast Competition is the longest-running event of its kind in the nation and is expected to draw 350 to 400 attendees this year. Craig Finfrock, CCIM, President Elect 2018 / Vice President is heading up this year’s competition, along with Melissa Lal, CCIM, President 2017, Suzie Ong, CCIM, Secretary, and Mark Hays, candidate CCIM.
This year’s inductee into the CCIM Tucson Legends will be Humberto Lopez, Co-founder and Chairman of the Board at HSL Properties. Over the past 40 years, HSL has become the largest multifamily property owner in the Southwest. The keynote speaker will be John Oliver, Director of Customer Services and Global Accounts, Surface Mining & Technology Division for Caterpillar, Inc. will speak about the Company’s decision-making to move its new regional headquarters to Tucson.
The XXVI Annual CCIM Forecast Panels will assemble and this year’s competition looks to be intense but fairly-matched. Last year’s champions will try to preserve their titles against new contestants who have been preparing all year for this competition, in hopes of ‘taking home the gold’ trophy.
Expecting to hear good news, here’s how the competition panels break out with 21 total panelists all confident they hold best home field advantage:
The 2016 Retail category Winner, Gary Heinfeld, CCIM, Principal of Advisors in Real Estate, Inc. will return to be matched against challengers, Melissa Lal, CCIM, of Larsen Baker, Michael Laatsch of CBRE and Andria Burke, MAI, Appraiser at Wells Fargo Bank, N.A. Heinfeld predicted a 6.37% retail vacancy rate while the actual rate came in at 6.40%.
Last year’s Office category Winner, Aubrey Finkelstein, Associate at Vast Real Estate Solutions will be up against competition from challengers, Dave Volk, Vice-President of CBRE, Tari Auletta, CCIM, Associate with Keller Williams Realty and Charles Singleton, MAI, at Singleton Valuations. Finkelstein predicted an 11.99% office vacancy while actual rate came in at 11.00%.
The 2016 Land category Winner, Aaron Mendenhall, Associate with Chapman Lindsey Commercial Real Estate, will face-off against challengers, John Carroll, Associate with Land Advisors Organization and Roy “Thrac” Paulette, Principal of Cantera Real Estate. Mendenhall predicted 2,949 residential permits for the year while actual number came in at 2,928 permits.
In the Multifamily category, the 2016 Winner, Lance Parsons, CCIM, Partner at ABI Multifamily will fend off Jason Hisey, Principal of The Hisey Group, and Allan Mendelsberg, Associate with Cushman & Wakefield | Picor. Parsons predicted 6.95% vacancy rate for the multifamily sector while the actual rate was 6.87%.
The 2016 Industrial category Winner, Russ Hall, SIOR, GSCS, Principal at Cushman & Wakefield | Picor will be opposing challengers Gary Emerson, Principal at GRE Partners, Dave Gallaher, CCIM, Principal of Tucson Industrial Realty and Beverly Weissenborn, MAI, Principal with Weissenborn Appraisal. Hall had predicted an industrial vacancy rate of 7.24% while actual vacancy rate was at 7.80%.
In the Finance category, last year’s Winner, Mike Trueba with Commerce Bank of Arizona will attempt to protect his title from challengers, Justin Martinez of the National Bank of Arizona, and Jim Hunter of BBVA Compass Bank. Trueba had predicted a 10-year Treasury bill rate of 2.62% at year end and the actual rate was 2.45%.
The XXVI Annual CCIM Market Forecast Competition promises to be as exciting an afternoon for real estate fans as the Super Bowl LI game will be for sports fans, without all the commercials.
If you haven’t reserved yet, there may still be time. Registration and networking begins at 11:15 am; Program starts at 12:00-4:30 pm followed by a networking cash bar reception from 4:30–5:30 pm. Tuesday, February 21st at the Marriott Tucson University Park, 880 E 2nd Street Tucson AZ 85719. – LUNCH SERVED & FREE PARKING!
Printable Registration Form 2017 to register or contact Aaron Reid at 520.382.8791 or by email sazccim@TucsonRealtors.org