PEOPLE'S CHOICE
Developer of the Year and Deal of the Year!
Winners will be announced at the Awards Gala on May 11th!
DEAL OF THE YEAR
Intersect | JLL
Project Team: Blake Bokosky & Michael Leggett
JLL Capital Markets
Creative Brief: Explain why this deal should be recognized as NAIOP SoCal’s Deal of the Year. The size of the deal is not as important as its creativity, complexity, and impact on the community.
Intersect, a four-building office campus in Irvine, sold for $235M. The assignment was complex in the sense that it was selling a product type (office) that was highly out of favor, in an undesirable market due to competitive landlords (Irvine Co, Olen, etc.) in a rising interest rate environment. We recognized that in order to be successful, we had to be creative and develop an investment thesis backed by empirical data, to prove office leasing demand and value appreciation would continue despite current headwinds in market fundamentals. The sale proved out our investment thesis and has made a positive impact by providing hope for other office landlords that leasing demand and value appreciation can still be achieved with office product.
Economic Impact: What is the economic impact of the deal?
The sale of Intersect provides a new high-watermark sale comparable for other office landlords which will help value appreciation for office product throughout Orange County. In addition, property tax proceeds will help the city and county fund new welfare initiatives.
Complexity: What contributes to the complexity of the deal?
Intersect presented unique complexities that required a creative approach to overcome. The real estate being sold—office product—is an incredibly difficult product due to lack of leasing demand. This, combined with Intersect’s location in a highly competitive market and rising interest rates, resulted in downward pressure on office values. We were able to think outside the box and developed an investment thesis focused on the demand of creative office vs. commodity and supported it with leasing data. This demonstrated that office leasing demand and value appreciation would continue despite current headwinds in market fundamentals. This approach translated to generating a deeper buyer pool, record-setting pricing and a successful close.
Innovation: Describe the creativity and innovation of the deal that makes it unique.
Intersect required an innovative approach to successfully transact. We created an investment thesis that paralleled creative office versus commodity and utilized empirical data from across the United States— both office leasing data points and office sales information—to illustrate to potential buyers via 100+ Zoom presentations how Intersect would succeed in obtaining and retaining new office tenants both in the short term and long term due to the project’s amenity base and location. This ingenuity allowed the team to generate a deeper buyer pool and achieve record-setting pricing.
ESG: What are the deal’s impacts on the environment, sustainability initiatives, and surrounding community?
When ultimately selecting a buyer for Intersect, high priority was placed on ensuring a positive future impact on not only the property, but also the surrounding community. MetLife was selected as the buyer, in large part due to their sustainability initiatives. As new ownership, their plan is to implement an ESG program that includes solar energy on the parking fields and buildings which will translate in surplus electrical power for the surrounding community, as well as executing a health and wellness plan for tenants that includes free exercise classes on site, blood drives, quarterly charity promotions and utilizing single-use plastics, to name a few.
Huntington Beach | Newmark
Creative Brief: Explain why this deal should be recognized as NAIOP SoCal’s Deal of the Year. The size of the deal is not as important as its creativity, complexity, and impact on the community.
This deal was a 433,865-square-foot industrial lease signed by Cambro Manufacturing at Sares Regis’ new industrial project, Huntington Gateway. Cambro took occupancy of the space in Q3 2022. The total lease consideration was in excess of $65 million. Newmark Senior Managing Directors Wes Hunnicutt and Matt Moore represented the tenant in the transaction. Cambro, which has operated in the city of Huntington Beach for 70 years, currently has two existing manufacturing buildings in Huntington Beach and consolidated its warehouse operations from the City of Industry to Huntington Gateway.
The new Cambro building is within Phase II of Huntington Gateway, developed by Newport Beach-based Sares Regis Group. Phase II, consists of 56 total acres and includes three additional buildings ranging in size from 109,892 square feet to 233,706 square feet that are available for lease, and construction is anticipated to be completed for these buildings by end of 2Q 2023. Newmark Executive Managing Directors Jeff Read and Scott Read and Managing Director Greg Osborne are the listing agents on the project and represented Sares Regis in this lease transaction.
Economic Impact: What is the economic impact of the deal?
There are several positive impacts this industrial lease has on the local economy and surrounding area including:
- Job creation: The lease of such a large industrial space leads to the creation of new jobs. The types of jobs created could include positions in manufacturing, logistics, warehousing, and distribution.
Increased demand for goods and services: With the new facility in operation, there may be increased demand for goods and services from local businesses, such as suppliers and distributors. - Boost to property values: The signing of a large industrial lease can have a positive impact on property values in the surrounding area. This is because it signals that the region is attractive to businesses and can increase the desirability of nearby properties for other companies looking to locate in the area and the remaining buildings that are and will become available as Huntington Gateway is completed in Phases.
- Fiscal impact: The signing of a lease this size could generate additional revenue for the city of Huntington Beach through property taxes, sales taxes and other fees. This could lead to increased funding for public services such as schools, parks, and public safety.
Complexity: What contributes to the complexity of the deal?
This deal was an excellent team effort by Newmark.
Newmark’s Jeff Read, Scott Read and Greg Osbourne are the listing agents for the Huntington Gateway project on behalf of the owner and developer Sares Regis. Huntington Gateway is one of the largest class A new industrial developments in Orange County. Since being brought on as listing agents, the Read brothers and Osborne have successfully signed three tenants – fully leasing Phase I to an e-commerce giant and leasing most of Phase II to Cambro (this deal) and Epson American, Inc. The Newmark team has been instrumental in advising Sares Regis through the complexities of an industrial project of this scale which has included, but not limited to, navigating zoning and permitting, financing and budgeting, design and construction and environmental considerations, resulting in successfully leasing up part of the project as Phases near completion.
Newmark’s Wes Hunnicut and Matt Moore represented Cambro Manufacturing in the lease deal. The Newmark team was able to reduce Cambro’s overall footprint by 97,000 square feet while increasing pallet position capacity. Most important to the client, Newmark was able to nearly eliminate the interfacility logistic spend by approximately $2 million per year. Hunnicut and Moore’s strategic negotiation and execution of the new lease was, by design, signed 15 months prior to the building completion which insulated the client from the double-digit annual rent growth exposure. Hunnicut and Moore were able to negotiate favorable lease terms on behalf of Cambro and achieved a landlord funded allowance that included 20,000 square feet of office space, above standard dock equipment, backup electric generator and car charging stations.
Innovation: Describe the creativity and innovation of the deal that makes it unique.
Sares Regis originally had an approved site plan which included multiple single-sided loading buildings with the largest being 220,000 SF, which was too small for Cambro’s operations. Through the team’s discussions with the developer regarding size requirement and desired building features, they agreed to modify the approved site plan and combine two buildings to a single cross-dock 435,000 SF Class A warehouse. The combining of two buildings and revision to the site plan was mutually beneficial to the landlord and tenant. Cambro was also able to work with an architect on design to determine build out specifics, which included a 20,000-square-foot of corporate office space in addition to the warehousing space.
ESG: What are the deal’s impacts on the environment, sustainability initiatives, and surrounding community?
This reinforces the city and state’s environment and sustainability initiatives in a couple of ways. Cambro is adding solar panels to the roof and this new location also reduces the commute for most of their employees.
DEVELOPER OF THE YEAR
Bridge Industrial
Creative Brief: Why is this commercial development company deserving of NAIOP SoCal's Developer of the Year award?
Bridge is currently Southern California’s most active industrial developer. As of January 2023, Bridge has 11 buildings under development totaling nearly 1.6M SF of new Class-A industrial product to be delivered in Los Angeles County alone. When including Bridge’s development projects in the Inland Empire and Bay Area, Bridge has a total of 5M SF of industrial development underway in California.
Since 2015, Bridge has developed 3.9M SF in Los Angeles and Orange Counties.
Bridge credits the trust provided from the brokerage community, commitment from its 3rd party vendors, and partnership with local municipalities in delivering successful state-of-the-art projects that meet the demands of the Southern California industrial market.
Project Significance: Explain the company's most significant project(s) (up to (3) three) and the reason(s) they deserve to be recognized. Highlight and industry-leading features or elements for consideration.
Bridge transformed an end of production oil field into Bridge Point South Bay V and VI — two state-of-the-art industrial facilities measuring 100,528 and 107,733 SF, respectively. The buildings are complete as of April 2023 and available for occupancy.
Bridge recently completed demolition of two antiquated facilities in Vernon, to make way for new warehouses: Bridge Point Vernon II, which will total 209,078 SF, and Bridge Point Vernon III, which will total 185,089 SF. The facilities are under construction and expected to be delivered during the first half of 2024.
Development Volume: What is the company's total commercial real estate square footage developed in Southern California? Developed world-wide? Provide a detailed list for verification that highlights project name, client, location, size and type.
Bridge has 11 new Class-A industrial buildings under development across LA County, totaling nearly 1.6M SF feet of development over 70 acres. Since 2015, Bridge has developed 22 buildings totaling 3.9M SF in Los Angeles and Orange Counties.
Including Bridge’s projects in the Inland Empire and Bay Area, Bridge has a total of 5M SF of industrial space underway in California. Since Bridge opened its California office in 2015, it has acquired, developed, and established an active pipeline of over 9.5M SF across 40 developments statewide.
Since 2000, Bridge has developed over 72M SF of industrial real estate across core infill industrial markets in the US and UK.
All of Bridge’s projects are listed at https://bridgeindustrial.com/markets/.
ESG and Sustainability: Detail the company's incorporation of sustainable design, innovative technology, building wellness and resiliency, as they apply to the development and building operations.
Bridge is on the forefront of the development of modern industrial facilities with sustainable features integrated throughout. Across its SoCal portfolio, Bridge is deploying solar panels on otherwise underutilized roofs, adding EV charging stations for tenants, designing buildings to a LEED® Gold standard, and in some cases, like that of Bridge Point South Bay II, providing incentives for tenants to utilize green and electric vehicles.
Bridge is committed to addressing ESG issues through the adoption of sustainable building standards. Last year it announced that it would pursue LEED® Core & Shell certification for all its U.S. properties, and established a standardized approach to design and construction for all future projects.
ROI: What are the company's strategies for return of investment, economic sustainability, and overall success of the development(s)?
Bridge takes pride in delivering modern facilities ranging from 60,000 SF infill developments to 500,000 SF buildings in the South Bay to a 2.2M SF campus in the Inland Empire. Bridge’s long-term strategy is to identify well located infill properties suitable for development into premier industrial facilities. Bridge has undertaken numerous avenues to unlock irreplaceable assets, including managing the closure of a former asphalt refinery, decommissioning of oil production facilities, and dismantling of former decades old manufacturing sites.
Bridge continues to be bullish on acquiring underutilized properties and Brownfield sites across SoCal to develop state-of-the-art facilities capable of serving top-tier tenants and global companies.
Challenges: Detail the company's-process for navigating economic challenges, community demands environmental conditions, and EDI initiatives. Economic Development?
From every project’s inception, Bridge partners with the respective municipality to achieve project approvals that meet the goals and objectives for Bridge and the community. Bridge’s unique approach to interfacing with local officials, planning staff, and community members starts with Heather Crossner, SVP of Development and Bridge’s lead for all governmental & community outreach. Prior to joining Bridge, Heather served as a land use and real estate attorney.
Heather leads a team that is skilled in working with the public sector to achieve project alignment and ultimately shared success with the completion of state-of-the-art facilities occupied by world class tenants that generate employment opportunities for the community at large.
Involvement: Please describe the company’s involvement in NAIOP SoCal and other community organizations.
Bridge is a Platinum and Gavel Sponsor and Member of NAIOP SoCal and has made large contributions to its mission and community initiatives. In 2022, Bridge was recognized by NAIOP SoCal for Industrial Project of the Year for Bridge Point Long Beach.
Bridge’s SVP of Development created an Adopt-A-School program through its adoption of Jordan HS — an extremely high-needs school. The partnership included: covering the cost of prom for all students, including venue rental and transportation; funding “College and Senior Day”; and purchasing Thanksgiving food baskets for 250 families. Bridge also organized service days to assemble Thanksgiving baskets, build furniture for the first robotics/STEM lab, and landscape the school’s front entrance.
Trammell Crow Company
Creative Brief: Why is this commercial development company deserving of NAIOP SoCal's Developer of the Year award?
Trammell Crow Company (TCC) entered the SoCal market in 1972 and quickly established itself as one of Southern California’s most active and highly regarded developers. The firm’s impeccable track record of demonstrated success qualifies TCC for consideration as NAIOP SoCal’s Developer of the Year award. In 2022, TCC’s Business Unit in Newport Beach (TCC NB) delivered over three million square feet of industrial space, expanded its geographical and product type diversification into over 700,000 square feet of life science space in San Diego, controlled roughly $600 million of multifamily development in escrow, and was awarded two master developer RFPs with a combined project cost exceeding $600 million.
INDUSTRIAL
In 2022, TCC NB delivered five industrial buildings totaling more than 3 million square feet. Fueled by record demand for logistics space in the wake of the COVID-19 pandemic, TCC preleased four buildings and leased the fifth building shortly after substantial completion, all at rents two times greater than initial proforma, demonstrating that the projects were well-timed and well-suited for the market. TCC NB accounted for 15% of the total industrial SF delivered in the Inland Empire in 2022 (per CoStar’s total delivered industrial square feet in 2022) and believes that the industrial boom is slated to continue into 2023. At the close of Q4 2022, TCC NB had five additional industrial projects in process, which will deliver another 3.1 million square feet in the next two years.
LIFE SCIENCE
During 2022, TCC NB also carved out a niche in San Diego’s top tier Life Science Market. Vista Sorrento Labs is one of TCC’s marquee life science projects that broke ground in 2022 and will deliver a 117,000-square-foot R&D facility with best-in-class design. In 2022, TCC also laid the groundwork for three other purpose-built class-A life science developments totaling 600,000 square feet that will break ground within San Diego over the next two years.
MULTIFAMILY
TCC’s development expertise also encompasses multifamily through its residential subsidiary, High Street Residential, where it has built a pipeline consisting of over 1,000 units and 20k sf of retail across Orange and San Diego Counties. The projects are in various stages of development and have a total estimated project cost of roughly $600 million.
PUBLIC-PRIVATE PARTNERSHIPS
Notably in 2022, TCC NB was selected as Riverside University Health System's Master Developer for an expansion of its Moreno Valley Medical Campus totaling over $500 million. The project will encompass a 100-bed behavioral health treatment center, 100-bed emergency department and critical care expansion, and other site improvements. The project team includes TCC, CannonDesign, and McCarthy.
In addition, TCC NB was also awarded a 150,000 square foot 5-story office build-to-suit to become the Orange County Transit Authority's new headquarters. This project is currently in design and slated to break ground in 2024.
Project Significance: Explain the company's most significant project(s) (up to (3) three) and the reason(s) they deserve to be recognized. Highlight and industry-leading features or elements for consideration.
TCC’s Newport Beach team is one of the most active industrial developers in Southern California, having developed roughly six million square feet of industrial space in key Inland Empire and Las Vegas logistics markets in the past 30 months alone. Two of these developments include Knox Logistics Center and Columbia Business Park Phase II, which TCC NB delivered in 2022. The market reception and leasing success of these projects continue to prove out TCC’s development strategy, which is founded on the idea that sophisticated users require modern facilities featuring the best design in strategically located logistics corridors.
In 2022, TCC NB in partnership with Clarion Partners delivered one of the final phases of Knox Logistic Center encompassing four buildings and totaling 2.7 million square feet. The Center is an industrial park located in unincorporated Riverside County spanning more than 265-acres, which will total 4.7 million square feet upon completion of an additional 230k SF phase in 2024. These projects were delivered during a very challenging construction and development environment. TCC demonstrated an ability to overcome several challenges including a complicated land assemblage, entitlement challenges, the presence of tonalite bedrock requiring extensive blasting, construction material and labor shortages, and utility service delays.
The Knox Logistics Center outperformed on all fronts and there are several reasons why this project is financially successful. First, TCC NB purchased the parcels at land values 75% below current market land values in the Inland Empire East, which was a result a complicated land assemblage and value created through entitlements. That land low basis coupled with TCC’s aggressive pre-purchasing of materials ahead of record cost escalation in 2021 and 2022 resulted in a total cost basis on these projects that was significantly below their stabilized market values. TCC also completed speculative tenant improvements including office space, warehouse lighting, and dock levelers in order to get ahead of long-lead times and allow tenants to move in quickly after shell completion. Further, the entire phase was preleased on average seven months ahead of substantial completion, securing quality tenants at lease rates two times higher than proforma.
In 2022, TCC and Washington Capital Management delivered the next building of Columbia Business Park, totaling 374,000 square feet. Columbia Business Park is located in Riverside’s Hunter Park industrial corridor spanning 72 acres and totaling 1.5 million square feet. The state-of-the-art facility features 36-foot-clear ceiling heights, ESFR sprinklers, 54 dock-high and two ground-level doors, and a 185-foot concrete truck court with parking for 92 cars and 42 trailers. Constructed to LEED standards, the building also integrates 2.5% Skylights and LED warehouse lighting, 20 Rite-Hite hydraulic pit levelers and bumpers and 5.7k square feet of office space.
Development Volume: What is the company's total commercial real estate square footage developed in Southern California? Developed world-wide? Provide a detailed list for verification that highlights project name, client, location, size and type.
TCC is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Since 1948, TCC has delivered nearly 2,900 buildings and counting across top-tier markets in the U.S. and Europe, valued at $75 billion and spanning more than 655 million square feet. TCC's teams, comprised of over 700 professionals, are dedicated to building value for its clients with professionals in 26 major cities throughout the United States and Europe. The firm develops across all product types, including office, industrial, life science, healthcare, mixed-use, and residential, through its multifamily subsidiary, High Street Residential. As of December 31, 2022, TCC had $16.9 billion of projects in process and $12.9 billion in its pipeline. TCC has been ranked the No. 1 Developer in the country for nearly a decade by Commercial Property Executive. For more information visit www.TrammellCrow.com.
At a regional level, TCC's Newport Beach Business Unit's development excellence wasn't built overnight, it took decades to develop and refine it. TCC NB has developed innovative and market-leading projects in Southern California encompassing 33.2 million square feet of space across 145 buildings since 1997.
See the following link (https://trammellcrow.app.box.com/s/fol58q7uazqpbp79won21omzlq2qiiqn) for a detailed project list for your verification. Please contact Chowe@trammellcrow.com if you experience any issues accessing the link.
ESG and Sustainability: Detail the company's incorporation of sustainable design, innovative technology, building wellness and resiliency, as they apply to the development and building operations.
Perhaps more impressive than TCC’s development performance is the firm’s continuing commitment to focusing on and expanding it ESG-related programs, which include substantial efforts focused on advancing diversity, equity, and inclusion – both within the firm and CRE industry – and on expanding TCC’s commitment to sustainability.
SUSTAINABILITY
TCC believes it has both a responsibility and an opportunity to minimize environmental impact by influencing the way buildings are developed. TCC is a leader in making commercial real estate a more sustainable industry by proactively integrating a holistic sustainability strategy at the front end of development. The firm has several professionals who have achieved LEED & WELL APS designations and counts 50 million square feet of LEED projects delivered and in the pipeline.
In 2022, TCC announced its first-ever Director of Sustainability role and promoted James Murray-Coleman to lead this important initiative. In this role, James is focused on several initiatives that helps TCC continue to enhance its sustainability platform and establish itself as a leader in sustainable development. Some recent highlights of how this effort is already impacting and shaping the strategic direction of the firm and its activities include:
• Establishment of a Global Sustainability Council to encourage collaboration and alignment across TCC’s European and US sustainability efforts, and to drive consistent policy across the firm and in partnership with the broader CBRE sustainability efforts.
• Partnership with Altus Power to install 300MW of on-site solar power, battery storage, and EV charging facilities within TCC’s development assets over the next four years.
Other future sustainable activities that TCC will be focusing on include enhanced reporting efforts (internal and external), embodied carbon reduction strategies, investment in and incorporation of new sustainable technologies and green building methods, and continued alignment with CBRE’s ongoing commitment to carbon neutrality and Net Zero by 2040.
ESG
As the nation’s leading commercial real estate development and investment firm, company leaders recognize the impact TCC has on providing industry leadership that grows in socially responsible ways. As part of its commitment to developing healthy communities, TCC actively addresses environmental/sustainable, economic, health & wellness, social, transportation, and governance impacts, aligning its projects with the interests of its communities, stakeholders, investors, and customers. By building healthy communities into every phase of the real estate process, TCC transforms social responsibility into lasting economic vitality that benefits the populations its serve. In a joint effort with its parent company, CBRE, TCC is devoted to the value delivered through the shared advantage approach to its business.
ROI: What are the company's strategies for return of investment, economic sustainability, and overall success of the development(s)?
A time-tested and proven strategy centered around several elements allows TCC to deliver the best product in the best location. Utilizing 75 years of development experience and expertise in market analysis and negotiation to secure the best terms, TCC seeks to control complex sites with entitlement, environmental, grading, and design challenges at a favorable land basis. TCC has extensive experience in facilitating complex financial structures including fee simple purchase, ground lease, credit tenant lease, bond financing, public private partnerships, among others to ensure financial success. By prioritizing long-term land control, TCC remains flexible and can adapt its development plans to changing market conditions and tenant needs, ensuring best-in-class design. Further, TCC focuses on maintaining competitive project costs by streamlining project management, leveraging innovative construction methods and technologies, and utilizing an extensive network of contractors and suppliers to secure the best possible pricing on materials and labor. Using these strategies in high-demand areas with strong economic fundamentals, TCC's development projects have the potential for long-term growth, appreciation, and maximum returns.
In addition to its strategy, TCC also leverages various tools, approaches, and principles to deliver developments and maximize ROI. Early on in the pursuit phase, TCC NB utilizes labor analytics provided by Global LaborView technology to guide location strategies, location intelligence tools like Build-A-Map, Fast Report, and Forum Analytics, and Giraffe for massing studies and site tracking, as well as information from such sources as RCA, CoStar, and Trepp. A hallmark of TCC’s success is being a pioneer in adopting ESG and LEED practices at its developments, which helps drive tenant demand and supports sustainability objectives. Additionally, its strong succession planning and investment in its people ensures the best and the brightest want to work for the company. TCC principals and senior professionals have over 200 years of combined experience in Southern California real estate development and have an average 15-year tenure, which speaks to not only its ability to generate above normal returns but to the TCC culture as well.
All of those endeavors and elements result in successful development projects that benefit local communities across Southern California. TCC’s extensive development expertise and ability to deliver the right project at the right time to the market are clearly reflected in the quality of the projects it builds and the outstanding results generated for investors and community members. The accomplishments of TCC’s Newport Beach Business Unit in 2022 are evident in its ability to deliver and lease such developments as Knox III, IV, VI, and VII, as well as Columbia Business Park Building II.
Challenges: Detail the company's-process for navigating economic challenges, community demands environmental conditions, and EDI initiatives. Economic Development?
While TCC is not insulated from the larger industry issues like inflation, economy, or financing, it operates on a foundation built over 75 years and that vast experience informs and guides its development approach for each project. That deep underpinning helps TCC face headwinds like entitlement issues, supply/land shortages, and escalating costs to develop the right product at the right time. Strategic implementation to overcome these challenges included: a variety of community outreach programs, pre-ordering long-lead items, and leveraging long-standing local relationships.
Financing Challenges
The lack of available construction financing is a specific challenge in the industry and one that TCC is well-equipped to overcome thanks to TCC’s dedicated capital markets team that maintains programmatic debt and equity partnerships as well as our unique ability to leverage CBRE’s strong balance sheet. Time tested financing relationships and capital sources allow TCC to continue successfully closing deals throughout the market cycle, as evidenced in our proven track record of successful development.
DEI
TCC's DEI Steering Committee has maintained its commitment to initiate and elevate DEI programs and partnerships to help drive and advance the firm’s efforts to create a diverse, equitable and inclusive environment within the company, the communities where TCC operates, and the real estate industry broadly.
Included among those efforts are:
• The Impact Project, an internal, company-wide program that invests in diverse communities in which TCC operates, and may include commitments to education, workforce development, public art, charitable donations, and other similar efforts.
• A growing partnership with Project Destined, which provides underserved, diverse students with hands on apprentice-style training within TCC.
• A partnership with NAIOP and ULI, which includes an annual financial commitment that supports each organization's DEI initiatives.
• A partnership with the Toigo Foundation to enhance a pipeline of diverse talent entering the investing and real estate industries through top-tier business schools.
Disruption to Supply-Side
Worldwide supply chain disruptions have significantly increased the delivery schedules for building shell and TI materials. A key part of TCC's strategy to avoid delays is to collaborate closely with its national Development Management Executive Committee to identify disruptions before they become widely public, avoid bottlenecks, and understand the latest trends such as pre-ordering materials like roof structures, dock packages, and other long-lead items. We also heavily leverage our long-term relationships and aggregate purchasing power to proactively minimize delays.
Involvement: Please describe the company’s involvement in NAIOP SoCal and other community organizations.
In 2022, TCC’s NB BU office provided more than $150,000 to nonprofit organizations in the Southern California community. Its corporate giving and volunteer actions benefit a broad range of organizations, including: The American Heart Association, The Concerned Family Homeless Shelter, The American Red Cross, The Boy Scouts of America, March Air Reserve Base Veteran’s Organizations, The Riverside University Hospital System, San Manuel Band of Mission Indians, The Downtown San Diego Partnership, The Priority Center, and more. TCC’s goal is to convey, through its team’s personal participation at community events, as well as its strategic financial donations, that TCC’s employees genuinely care about the residents of the communities in which it does business. In 2023, TCC NB pledges to make $150,000 in contributions, which will bring its total contributions made over the last five years to $3.36 million.
TCC NB also serves a wide range of roles within NAIOP SoCal. Many of our team have been involved for over 20 years at various levels ranging from past chapter presidents to YPG Class of 2013-14 and to the 2021 USC vs. UCLA Graduate NAIOP Case Competition noted below.