ITRA Global Hosts International Conference in Washington D.C.

During October 18 – 19, 2019, corporate real estate advisors from around the world gathered in Washington, D.C. for their semi-annual ITRA Global corporate real estate conference.  The conference focused on best practices in corporate real estate, the changing needs of corporate real estate executives and corporate clients, and collaboration opportunities.  In addition, several esteemed speakers provided meaningful insights on a variety of topics including politics, the global economy, and the real estate marketplace in general. 

Among the speakers were Daniel Marks, Vice Consul of International Trade at the British Embassy in Washington D.C., and  Jonathan Woloshin, CFA, Head of Real Estate & Financials for UBS.   One very interesting topic concerned the fact that in Europe, interest rates are either zero or below zero.  Despite negative interest rates, these economies remain sluggish.  In fact, there is a slowing rate of growth globally.  In looking at the U.S. economy, interest rates had been increased over the past several years and economic growth has been quite strong.  A U.S. interest rate cut was anticipated, but no recession of any significance is foreseen within the next couple of years.  With low interest rates worldwide, commercial real estate will be in demand from an investment perspective.  Other notable points outlined migration within the U.S. from state to state and that the states of California, Illinois, New York and New Jersey were the states that had lost the most population over the past few years as both businesses and resident move to lower cost states such as Texas, Utah, Arizona, and Florida. 

Like many U.S. cities, Washington D.C. has seen tremendous development over the past decade.  Conference attendees toured CityCenterDC, a significant mixed-use development located just five blocks from the White House on the site of the previous convention center.  CityCenterDC was developed by Hines and completely transformed the area, now comprised of high end retail, condominiums and apartments, prime office space restaurants and the new Conrad Hotel by Hilton.  Key retailers include Tiffany, BVLGARI, Burberry, and CH Carolina Herrera, among many others.  The project has several pedestrian-oriented gathering points, including a park with fountains, digital displays, and other features that are very popular with visitors for those selfie pics!  After the tour, a reception for ITRA Global was held at the Fig and Olive restaurant for a champagne toast and hors d’oeuvres.

The conference concluded with a grand finale held aboard the Odyssey Potomac River Cruise, where attendees enjoyed magnificent views of the nation’s capital, dinner and dancing.

The next international ITRA Global conference will be held in April 2020 in Houston, Texas. 

About ITRA Global

ITRA Global is one of the largest organizations dedicated to representing tenants and occupiers of commercial real estate. With experience in more than 300 markets around the world, ITRA Global consists of seasoned professionals specializing in representing tenants and buyers in the leasing, acquisition and disposition of office, industrial and retail real estate. Clients benefit by having an experienced professional as their trusted advisor, providing conflict-free representation with total objectivity.

Sponsors and Contributors:

Bronze Sponsor: Quarem, Inc.