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2 Who makes your Commercial Banking decisions at Heritage Bank of Nevada? You re looking at em. Here at Heritage Bank of Nevada, Commercial Business Customers talk directly with local President. With Heritage Bank s ecorp Cash Management Service, you have access to real-time transactions, you can view/print copies of posted checks, make wire transfers and much. E answer your questions. Your decision to do your business banking at Heritage can save you time and make your life easier. Call

3 TABLE OF CONTENTS Letter from the President CCIM Elected Leaders CCIM Application Summit Awards Have s and Want s hosts Industrial Forecasts Multi-Family Forecasts Office Forecasts Retail Forecasts Membership Directory MEET OUR SPONSORS PLATINUM SPONSOR Heritage Bank GOLD SPONSOR Panattoni SILVER SPONSORS First Centennial Title First Independent Bank of Nevada Jones Vargus Nevada State Bank Plumas Bank Ticor Title

4 Welcome to the 18th Annual Northern Nevada CCIM Chapter Year-End Review and Forecast Competition! Since 1992, the Northern Nevada CCIM Forecast has become one of the most popular events in the local commercial real estate industry. In fact, chapters across the country inquire about this event and have replicated it in a similar forum. During this event, we hear from experts from the Industrial, Multi-Family, Office and Retail segments of commercial real estate. Our presenters take a look back at last year's forecast, see how closely projections were made, and then cast their outlook for the upcoming year. This year's Forecast provides you and your clients with expert predictions for vacancy and absorption rates, construction projections and rental value estimates in the Industrial, Multi-Family, Office and Retail segments. Thank you to all who submitted predictions this year and thank you to our speakers, we know it takes a lot of work and preparation. During this event, we also take time to recognize the winners of last year's predictions. In today's volatile market, I know how difficult it was to accurately predict the market in so it is with great honor we recognize last year's winners. This booklet provides you with the Northern Nevada CCIM Chapter membership directory and information about the upcoming Summit Awards. In addition, we highlight all of our tremendously generous sponsors comprised of banks, brokerage houses, and title and escrow companies. The sponsorships help CCIM fund scholarships for our members looking to further their education in commercial real estate. Please help me thank them for their support, especially in these challenging times. CCIM of Northern Nevada has an exciting year planned out for I urge you to visit our chapter website ( for an up-to-date listing of our events. Not only will we feature some informative, timesensitive luncheon topics, but we are also honored to be rolling out a new Candidate Guidance program. If you are a CCIM Candidate, you now have access to a formal mentoring program designed to assist you in preparing your portfolio, resume and helpful insights about classes and exams. Feel free to contact me for more information about this program. I hope you enjoy this event and the Forecast booklet. I look forward to seeing you at future CCIM events including the 5th annual Summit Awards on May 8, Sincerely, Kevin Annis, CCIM Northern Nevada CCIM Chapter President (775)

5 MEET YOUR 2010 NORTHERN NEVADA CCIM CHAPTER ELECTED LEADERS PRESIDENT Kevin Annis, CCIM TD Advisors (775) VICE-PRESIDENT Brian Egan, CCIM Egan Commerical Real Estate (775) SECRETARY Lyle Chamberlain, CCIM Sperry Van Ness/Gold Dust West Commercial (775) x 104 TREASURER Roger Kadz Plumas Bank roger.kadz@plumasbank.com (775) ADMINISTRATOR Stacie Griffin stacie_griffin@yahoo.com (775)

6 2010 MEMBERSHIP APPLICATION RENEWAL OR NEW NORTHERN NEVADA CCIM CHAPTER C/O STACIE GRIFFIN P.O. BOX RENO, NV Ph: (775) E: NAME: FIRM/COMPANY: ADDRESS: SUITE: CITY/STATE/ZIP: OFFICE PHONE # FAX # MOBILE # CCIM COURSES COMPLETED: PRIMARY AREA(s) OF CONCENTRATION INCLUDE: REAL ESTATE SPECIALTIES OTHER [] Business Opportunities []Property Managers [] Accountant [] Buyer Brokerage []Ranches [] Appraiser [] Consulting []Retail [] Attorney [] Development [] Other [] Banker []Exchanging [] Escrow Company []Hotels/Motels [] Mortgage Banker []Industrial [] Principal []Land [] Property Manager []Mobile Home Sales [] Syndicate []Multi Family [] Title Company []Office [] Other ENCLOSED ARE MY DUES FOR MEMBERSHIP IN THE NORTHERN NEVADA CCIM CHAPTER FOR Dues 2010 Dues by 12/11/09 after 12/11/09 Jan to Dec. Jan to Dec. Check Box to Indicate Category DESIGNEE OR CANDIDATE- CCIM Institute member $95.00 $ [] A DESIGNEE has achieved the prestigious CCIM designation. [] A CANDIDATE member is an approved applicant taking the course toward the designation. MARKETING MEMBER - NON- CCIM Institute member $ $ [] A MARKETING member is a commercial real estate licensee who is not a CCIM designee, nor a candidate, who wishes to network and interact with other commercial brokers through membership in the Northern Nevada CCIM Chapter. []An AGENT $60.00 $70.00 Member works within a brokerage firm which is a Chapter Sponsor. Please verify your company is a chapter sponsor when selecting this membership level. All applications are subject to review. Indicate Category: [] DESIGNEE [] CANDIDATE [] MARKETING MEMBER CORPORATE AFFILIATE MEMBER $ [] An AFFILIATE member works in a field providing support services to commercial real estate professionals, such as title, insurance, escrow, lender, attorney, CPA, etc. TOTAL ENCLOSED $ [] Check Enclosed [] Visa/MasterCard Card# Exp. Date Signature:

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8 2009 HAVE'S AND WANT'S HOSTS Each month, Northern Nevada CCIM Chapter members have an exclusive opportunity to present their properties, new service offerings and clients to other CCIMs in the community. This non-competitive forum is the ideal opportunity to increase visibility of have's and want's for brokers, banks, title companies and other businesses involved in commercial real estate. Our hosts make these meetings possible and in 2009, we were lucky to have the following companies provide a meeting venue (and a tasty lunch!) to Have's and Want's meeting attendees. Have's and Want's meetings generally occur on the third Thursday of each month. So be sure to mark your calendar and attend an upcoming Have's and Want's meeting in Thanks once again to the following companies that graciously hosted our monthly Have's and Want's meetings in 2009: AMH Properties Argent Commercial CB Richard Ellis First Centennial Title Granite Construction Supply Grubb & Ellis Gui Denby Nevada Commercial Services Nevada State Development Wells & Company If your company is interested in hosting a Have's and Want's meeting in 2010 and would like to get the opportunity to present your services to our membership, please contact Stacie Griffin, chapter administrator, for more information. Stacie_Griffin@yahoo.com or (775)

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10 Respect matters. Michael Alonso / William Dave Davis, Jr. / Elizabeth Fielder Jones Vargas is proud to sponsor the Northern Nevada chapter of CCIM. In the disciplines of commercial and investment real estate, Certified Commercial Investment Members are an invaluable resource to the commercial real estate owner, investor and user. At Jones Vargas, we recognize the value of such professionalism and commitment, and are proud to show our support of the CCIM local chapter. Leaders in Nevada Law since 1928 reno / las vegas / jonesvargas.com 10

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12 Industrial 2010 Forecasts 12

13 SPEAKER 2010 Forecast of Reno/Sparks Industrial Market Tom de Jong, Lee & Associates 2010 will be a year that shows signs of stabilization, with a slight increase in vacancy rates in the first half with a small to moderate decrease in the second half building momentum into The bulk of the large user departures have likely ended, with smaller players hanging on for dear life. The wild card to their survival will be the recovery in the national and local economies. Should California overcome their economic woes this year our recovery will be more robust than if they linger in their own doldrums for the balance of the year. This is the basis for my industrial forecast below. Starting the year at 15.3% we will see stable vacancy rates in the range of % for the first half, with vacancies dropping to 14.8% in Q3 and 14.5% by the end of Quarter by quarter figures: Year End % Q1, % Q2, Q3, % Year End % Tom R de Jong Managing Partner 5474 Longley Lane, tdejong@lee-associates.com Given the discrepancies in statistics, please consider the net impact to vacancy rates reported. The net impact is forecast as follows: Q1, 2009 Increased from prior quarter by 0.0% Q2, 2009 Increased from prior quarter by 0.2% Q3, 2009 Decreased from prior quarter by 0.7% Q4, 2009 Decreased from prior quarter by 0.3% Year End 2009 to Year End 2010 will result in a NET DECREASE of 0.8%. 13

14 INDUSTRIAL CCIM 2010 FORECAST Vacancy Rates All Product Types, Year-End Overview of 2009 Industrial Leasing Reno/Sparks/Carson City The year of 2009 proved to be challenging for Industrial real estate in the Reno/Sparks Where in years past this could be attributed to large amounts of space coming on the market, there was virtually no new speculative construction this year and only a few build to suits. A majority of this vacancy came through major players leaving and/or retracting in our market including; Amazon.com, Osborne-Hessey, Standard Motor Products, Weyerhauser, Royal Sierra Extrusions (Georgia Gulf), Overhead Door and ProCal (Myers Industries). All things considered, in light of this uncertain economy, the changes within the market didn t seem that bad. New business and organic growth did occur for a few companies, the most notable; The Randa Group, Fosdick, Burrows Paper, Bush Industries and Propak Logistics. Gross & Net Absorption Asking rates hovered around $.31 per square foot throughout the year. Effective rates are a different story however, as landlords offer a variety of incentives to attract tenants including but not limited to; free rent, tenant improvements, moving allowances and lease buyouts. Forecast 2010 coming back to the market with the departure of Dell Computers and Coats & Clark. However, over one million square feet has been successfully negotiated and wil be Forecast Vacancy Rates Many positive economic indicators which suggest our market will stabilize by the end of We anticipate positive net absorption in both the third and fourth quarters to of the year. current economy. This may prove to be a good year for both tenants and landlords to come to agreement on longer term transactions. Staying the course will be the mantra for the year. The glass will remain at half, it is up to you to determine if it is full or empty. Attention should be given to positive news and indicators. Robert Bach, Grubb & Ellis s Chief Economist gives an ed, weakly synopsis, called Good News Friday which reports progress along the lines of commercial real estate. Please contact me if you have interest in receiving these s. Industrial Market Statistics Year End 2009 Chris Fairchild Associate chris.fairchild@grubb-ellis.com 14

15 2010 Outlook presented by: Dave Simonsen, CCIM, SIOR Senior Vice President Industrial Properties Group CCIM FORECAST INDUSTRIAL PROPERTIES MARCH 4, OVERVIEW At the end of last year we reported the industrial market had limped along with waning activity and increasing vacancy. This year, the market can be characterized as having spent the entire year pretty much in a coma. Activity was the lowest this decade, speculative construction was non-existent, build-to-suit construction wasn t far behind, the vacancy rate rose to a level never before seen and for the first time annual net absorption was negative significantly. WHERE DID THEY GO? The big story, as we forecasted mid-year, is that occupancy shrank for the entire year by more than 1.7 million square feet. Never before have we experienced negative growth for an entire year! Some of the noteworthy departures and consolidations during 2009 causing this negative absorption include Amazon.com, Ozburn-Hessey, Standard Motor Products, Weyerhaeuser, Royal Sierra Extrusions (Georgia Gulf), Cantex Inc., Overhead Door and Pro-Cal (Myers Industries). In all cases, these were the result of global economic conditions and not because of the local business environment. VACANCY A NEW RECORD The market ended the year with a 15.29% vacancy rate (more than 11 msf) increasing from 14.92% a quarter earlier. The highest amount of vacancy continues to be in Sparks, the largest submarket, with almost 3.9 million square feet vacant. Unfortunately, because Sparks is also the oldest submarket, many of the vacant spaces are smaller and/or functionally obsolete. Almost 64% percent are 20,000 sf or smaller and less than 3% were built in 2000 or later. The second highest amount of vacancy is in the East I-80 Corridor, where almost 1.8 million square feet of the total 2.7msf available is new, never occupied space that developers built during the construction frenzy of PREDICTION Percent Vacancy End of Year Totals I think this will be an up and down year. Good news stories of tenants expanding in the area will be followed by balancing announcements of consolidation. With more pain to experience before a slow recovery, I predict a year end vacancy of 15.15%. 15

16 Multi-Family 2010 Forecasts 16

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19 CCIM Multifamily Forecast 2010 Brian Egan, CCIM - Egan Commercial Real Estate SPEAKER STILL WATER RUNS DEEP IN THE APARTMENT MARKET The Northern Nevada multi-family market has been on the steady decline over the past 2 years in terms of occupancy, rental rates, and as a result, value.what once was thought of as a stable and safe investment, with the availability of high LTV financing, is struggling to compete with other property types for any kind of reasonable return. While the larger, Class A projects in our area seem to have stabilized their occupancy, thanks in great part to rent concessions and significant adjustments in rates, this stability comes at the cost of reduced cash flows. The consequence of high leverage is revealing itself in that the majority of sales that we saw in 2009 came in the form of broken properties.that number of sales could be counted on one hand, and buyers seem to know this, seeking mostly distressed assets in their scouring of the greater Reno-Sparks area. With the trend of rents remaining low in 2010, and value expectations still high, distressed sales will likely be the continued trend in 2010, despite what many experts are recognizing as a bottom being reached in our market. The deeper problems seem to have surfaced in the Class B and C properties that are under 80 units in our area. Despite the fact that these properties have adjusted their rents in 2009 down from an average of approximately $640 in Q to about $610 in Q4 2009, that amount has, according to most industry sources, started to tick back up, suggesting a bottom has been reached. The problem for these mom and pop properties that is hard to grasp a hold of is the ever-changing shadow market of for-rent single family residences in the same rental neighborhoods that these smaller apartment buildings typically exist. During the month of February, 2010, a 30-unit property in the Old Southwest neighborhood of Reno had a studio for rent for $500 and a one-bedroom for $600. At the same time, a study of the 2-mile radius revealed at least six single family homes of 1-2 bedrooms on the market for rent at or under the $600 asking price.tenants, as a result of high unemployment and living expenses, are not only opting to share houses and live with roommates, but they are afforded the option to move up to a standalone house or duplex for the same price as these apartments. Owners of smaller properties are continuing to adjust their rents downward, and we are seeing signs of stabilization in prices as of Q1 2010, but until the shadow market of SFR for-rent is absorbed, they will continue to battle the balance of increased utility costs (rising an average of 6-7% per year for the last two years), and dropping rental income.the name of the game for these owners is to fill the vacancies, which hover in the 12% range at the moment and pay the bills. As stabilization continues this year, price expectations will have to adjust to the market conditions in order for properties to trade at all. The few sales that took place over the last 12 months averaged in the high 8% Cap rate range, with only a small number of offerings on the market anywhere near that return. Financing appears to be available for these properties, but it is harder for the smaller, older properties to achieve the 60-70% LTV ratio than the larger, stabilized projects can get. Also, factoring in the downgrade of the Northern Nevada area to a Tier 3 market, according to Greystone Financial Group, the rates and DSC's in Northern Nevada are not as attractive to out of market buyers, and financing may not end up being as readily available for apartment underwriting as lenders may want us to believe. Additionally, until the value expectations of sellers become more realistic, there simply wont be many options for the multi-family buyer to look at. While I hope that the dynamics continue to improve on the 80+ unit properties that have stabilized their occupancy, I think another year of correction and shadow market absorption will need to take place before any significant improvements are seen in the smaller apartment market. Overall, I predict that average vacancy will end up being 11% and average rent will be $620, well below that of two years ago. 19

20 Office 2010 Forecasts 20

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22 SPEAKER 22

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26 Retail 2010 Forecasts 26

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31 MEMBERSHIP DIRECTORY CCIM DESIGNEES These individuals have completed all necessary coursework, tests involved and experience required for achieving the prestigious CCIM designation. KEVIN ANNIS, CCIM TD ADVISORS 5470 Reno Corporate Dr. p: (775) f: (775) c: (775) e: BRIAN ARMON, CCIM TRINITY 6121 Lakeside Dr., Ste. 205 p: (775) f: (775) c: (775) e: JOHN ATWELL, CCIM DP PARTNERS 5500 Equity Ave. Reno, NV p: (775) f: (775) e: PAMELA BARRETT, CCIM ARGENT 36 Stewart Street Reno, NV p: (775) c: (775) e: TODD BLONSLEY, CCIM MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES 255 W. Moana Lane, Suite 209 Reno, NV p: (775) f: (775) e: RON BOLES, CCIM FENNELL AND ASSOCIATES 500 Damonte Ranch Parkway #675 Reno, NV p: (775) f: (775) c: (775) e: BRAD BONKOWSKI, CCIM COLDWELL BANKER COMMERCIAL PREMIER BROKERS 223 S. Division St Carson City, NV p: (775) f: (775) c: (775) e: JACK BROWER, CCIM Sperry Van Ness/Gold Dust Commercial 311 N. Carson St Carson City, NV p: (775) x 18 c: (775) e: browerj@svn.com DOMINIC BRUNETTI, CCIM NAI ALLIANCE 6995 Sierra Center Parkway #100 p: (775) f: (775) c: (775) e: dbrunetti@naialliance.com LYLE CHAMBERLAIN, CCIM SPERRY VAN NESS/ GOLD DUST COMMERCIAL 5585 Kietzke Lane p: (775) x 104 f: (775) c: (775) e: lyle.chamberlain@svn.com CHAD COONS, CCIM GILLMOR COONS REAL ESTATE GROUP, LLC PO Box 996 Genoa, NV p: (775) f: (775) c: (775) e: chadcoons@gmail.com DARYL DRAKE, CCIM DRAKE COMMERCIAL REAL ESTATE SERVICES 1885 S. Arlington Ave. Ste 207 Reno, NV p: (775) f: (775) e: drakerealty@sbcglobal.net BRIAN EGAN, CCIM EGAN COMMERCIAL REAL ESTATE 464 South Sierra Street Reno, NV p: (775) f: (775) c: (775) e: brian@egancommercial.com LANCE FAULSTICH, CCIM TRINITY 6121 Lakeside Dr., Ste. 205 p: (775) f: (775) e: lance.faulstich@trinitycommercial.com ROBERT FORD, CCIM COLDWELL BANKER COMMERCIAL PREMIER BROKERS 223 S. Division St Carson City, NV p: (775) f: (775) c: (775) e: bob@ford.minden.nv.us Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 31

32 MEMBERSHIP DIRECTORY CCIM DESIGNEES These individuals have completed all necessary coursework, tests involved and experience required for achieving the prestigious CCIM designation. GARRETT HALLENBECK, CCIM HALLMARK INVESTMENTS & MANAGEMENT, LLC 3100 Mill St., Ste. 204 Reno, NV p: (775) f: (775) c: (775) e: SKIP HANSEN, CCIM SKIP HANSEN & ASSOCIATES, INC. PO Box Reno, NV p: (775) c: (775) e: DAVE HENSELMAN, CCIM COMMERCIAL PROJECT MANAGEMENT OF NEVADA, LLC 3545 Airway Dr. Ste 113 p: (775) e: MARY HOLMAN CCIM, CPM, CRS, CAM HOLMAN INVESTMENTS, LLC 100 Moore Lane Reno, NV p: (775) f: (775) c: (775) e: THOMAS Y. JOHNSON, CCIM SPERRY VAN NESS/GOLD DUST COMMERCIAL ASSOCIATES 311 Up N. Carson St Carson City, NV p: (775) f: (775) c: (775) e: RYAN JOHNSON, CCIM METZKER JOHNSON GROUP Professional Circle, Ste. 4 Reno, NV p: (775) f: (775) c: (775) e: ryan@johnsongroup.net JERRY KEHR, CCIM C/B KERH-O'BRIEN REAL ESTATE PO Box 556 Chester, CA p: e: exacta5@frontiernet.net MICHAEL KILLIAN, CCIM THE KILLIAN COMPANY 401 Ryland St. #300 Reno, NV p: (775) f: (775) e: killianco@gmail.com RICK LAMAY, CCIM GRUBB & ELLIS/NCG 5555 Kietzke Lane #200 p: (775) f: (775) c: (775) e: rick.lamay@grubb-ellis.com JAMES LOWEY, CCIM MORRISSEY REALTY 1025 Ridgeview Dr., Ste. 200 Reno, NV p: (775) f: (775) c: (775) e: james@morrisseyrealty.com MELISSA J. MOLYNEAUX, CCIM COLLIERS INTERNATIONAL Double R Blvd, Ste. 100 Reno, NV p: (775) f: (775) c: (775) e: mmolyneaux@colliersreno.com AIMAN NOURSOULTANOVA, CCIM CB RICHARD ELLIS 6980 Sierra Center Parkway # 160 Reno, NV p: (775) f: (775) c: (775) e: aiman.noursoultanova@cbre.com BRUCE ROBERTSON, CCIM SPERRY VAN NESS/ GOLD DUST COMMERCIAL 311 Up N. Carson St Carson City, NV p: (775) x 12 f: (775) c: (775) e: robertsonb@svn.com FLOYD ROWLEY, CCIM COLLIERS INTERNATIONAL Double R Blvd., Ste. 100 Reno, NV p: (775) f: (775) c: (775) e: frowley@colliersreno.com TIM RUFFIN, CCIM, SIOR COLLIERS INTERNATIONAL Double R Blvd., Ste. 100 Reno, NV p: (775) f: (775) c: (775) e: tim@timruffin.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 32

33 MEMBERSHIP DIRECTORY CCIM DESIGNEES These individuals have completed all necessary coursework, tests involved and experience required for achieving the prestigious CCIM designation. DAVE SIMONSEN, CCIM NAI ALLIANCE 6995 Sierra Center Parkway #100 p: (775) f: (775) c: (775) e: SHAWN SMITH, CCIM CB RICHARD ELLIS 6980 Sierra Center Parkway #160 p: (775) f: (775) c: (775) e: DENNIS SMITH, CCIM COLDWELL BANKER COMMERCIAL PREMIER BROKERS 223 S. Division St. Carson City, NV p: (775) f: (775) c: (775) e: DEWEY STRUBLE, CCIM SPERRY VAN NESS/GOLD DUST COMMERCIAL 5585 Kietzke Lane p: (775) x 102 f: (775) c: (775) e: struble@ccim.net JOHN UHART, CCIM JOHN UHART COMMERCIAL REAL ESTATE SERVICES 301 W. Washington St. #1 Carson City, NV p: (775) f: (775) e: jfuhart@ccim.net DON WELSH, CCIM GRUBB & ELLIS / NCG 5555 Kietzke Lane #200 p: (775) e: don.welsh@grubb-ellis.com ANDIE WILSON, CCIM COLDWELL BANKER COMMERCIAL PREMIER BROKERS 223 S. Division St Carson City, NV p: (775) f: (775) c: (775) e: brandie.llc@prodigy.net DAVID WOODS, CCIM CB RICHARD ELLIS 6980 Sierra Center Parkway, Ste. 160 p: (775) f: (775) c: (775) e: david.woods@cbre.com PAR TOLLES, CCIM DP/DERMODY PROPERTIES 5500 Equity Ave. Reno, NV p: (775) f: (775) e: ptolles@dermody.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 33

34 MEMBERSHIP DIRECTORY CANDIDATE MEMBERS These members are approved candidates for the CCIM designation and are in the process of completing necessary coursework. CORRINE BLONSLEY ICON COMMERCIAL MANAGEMENT 255 W. Moana Lane #213 Reno, NV p: (775) f: (775) e: GIGI CHISEL LEWIS OPERATING CORPORATION 1380 Greg Street #231 Sparks, NV p: (775 ) x 11 f: (775) e: gigi.chisel@lewisop.com KIMBERLY CLARK REMAX PREMIER PROPERTIES 5250 Neil Road # 100 Reno, NV p: (775) x 113 f: (775) c: (775) e: kclarkandcompanyllc@ymail.com TODD COLLINS FENNELL & ASSOCIATES 500 Damonte Ranch Parkway, Ste. 675 Reno, NV p: (775) f: (775) c: (775) e: tcollins@fennellcre.com TOM R. DE JONG COLLIERS INTERNATIONAL Double R Blvd., Ste. 100 Reno, NV p: (775) f: (775) c: (775) e: tdejong@colliersreno.com JUDY EWING REMAX PREMIER PROPERTIES 5250 Neil Road # 100 Reno, NV p: (775) f: (775) c: (775) e: j.a.ewing@att.net CHRIS FAIRCHILD GRUBB & ELLIS 5555 Kietzke Lane #200 p: (775) f: (775) c: (775) e: chris.fairchild@grubb-ellis.com JAMES GIBSON SPERRY VAN NESS/GOLD DUST COMMERCIAL ADVISORS 311 Up N. Carson St. Carson City, NV p: (775) x 17 f: (775) c: (775) e: jim.gibson@svn.com RICHARD SCOTT GUY R.S. GUY & COMPANY, INC. 675 Sierra Rose Dr. #103 p: (775) f: (775) c: (775) e: scott@commercialguy.com MARK HANNA JOHNSON GROUP Professional Circle Reno, NV p: (775) f: (775) c: (775) e: mark@johnsongroup.net JERRY HAWKINS COLDWELL BANKER SELECT REAL ESTATE 6512 S. McCarran Blvd. Reno, NV p: (775) f: (775) c: (775) e: loydhawkins@msn.com YAIR "YAYA" JACKOBY FERRARI-LUND REAL ESTATE 3700 Lakeside Dr. Reno, NV p: (775) f: (775) c: (775) e: yaya@yayarealty.com RON JONES NEVADA COMMERCIAL SERVICES, INC Kietzke Lane p: (775) f: (775) c: (775) e: rjones@ncsreno.com JAMES KAPLAN K CORPORATION PO Box 4606 Incline Village, NV p: (775) f: (775) e: jimccim@kcorporation.com MARK KEYZERS NAI ALLIANCE 6995 Sierra Center Parkway, Ste. 100 p: (775) f: (775) c: (775) e: mkeyzers@naialliance.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 34

35 MEMBERSHIP DIRECTORY CANDIDATE MEMBERS These members are approved candidates for the CCIM designation and are in the process of completing necessary coursework. MARTY LEVASSEUR SPERRY VAN NESS 630 Sierra Rose Parkway, Ste. 1A p: (775) f: (775) c: (775) e: ROBERT L. LUCEY KELLER WILLIAMS REALTY 690 Sierra Rose Dr. p: (775) f: (775) c: (775) e: TOM MILLER MILLER INDUSTRIAL PROPERTIES, LLC 1485 Southern Way Sparks, NV p: (775) f: (775) c: (775) e: ANTHONY RICCO TRAINOR & ASSOCIATES 50 E. Greg St. # 100 Sparks, NV p: (775) f: (775) e: tony@trainorandassociates.com SEAN SINGER EDGEBROOK, INC. PO Box Sparks, NV p: (775) f: (866) e: hkyplyr6@yahoo.com BRIAN WALLACE Nevada State Development Corporation 6572 South McCarran Blvd. Reno, NV p: (775) f: (775) c: (775) e: bwallace@nsdc-loans.com MIKE WELLS WELLS & COMPANY REALTY, LLC 9190 Double Diamond Parkway Reno, NV p: (775) f: (775) e: info@mwells.com KENT WHELAN COLDWELL BANKER COMMERCIAL CLAY ASSOCIATES 294 E. Moana Lane #27 Reno, NV p: (775) f: (775) e: kwhelan@cbcreno.com GRANT SIMS CB RICHARD ELLIS 6980 Sierra Center Parkway, Ste. 160 p: (775) f: (775) e: grant.sims@cbre.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 35

36 CCIM MARKETING AND AFFILIATE MEMBERS These individuals have either not yet declared CCIM Candidacy or work in a field providing support services to commercial real estate professionals, such as title, insurance, escrow, lender, attorney, CPA firms, etc. MARK ASHWORTH MT. ROSE INSURANCE PO Box p: (775) f: (775) c: (775) e: mashworth@mtroseinsurance.com LARRY BELL HERITAGE BANK OF NEVADA 1401 S. Virginia St. Reno, NV p: (775) f: (775) e: lbell@heritagebanknevada.com WILLIAM V. BURGESS, CFP CITY NATIONAL BANK 6490 S. McCarran Blvd, Ste. 31 Reno, nnv p: (775) f: (775) c: (775) e: bill.burgess@cnb.com ADRIEN BURNEY NEVADA STATE DEVELOPMENT CORPORATION 6572 S. McCarran Blvd. Reno, NV p: (775) f: (775) e: aburney@nsdc-loans.com KIM COULTER-DAVIS UNITED CONSTRUCTION COMPANY 5300 Mill Street Reno, NV p: (775) c: (775) e: kimc@unitedconstruction.com RICK CASAZZA COLLIERS INTERNATIONAL Double R. Blvd., Suite 100 Reno, NV p: (775) f: (775) c: (775) e: rcasazza@colliersreno.com ELIZABETH FIELDER JONES VARGAS 100 W. Liberty Street, 12th Floor Reno, NV p: (775) f: (775) e: efielder@jonesvargas.com BOB FRANCL FIRST INDEPENDENT BANK OF NEVADA 5335 Kietzke Lane p: (775) f: (775) e: bfrancl@firstindependentnv.com WILLIAM "BILL" FREED SKIP HANSEN AND ASSOCIATES PO Box Reno, NV p: (775) f: (775) e: wpf@accutek.com R. CRAIG HOWARD HOLLAND & HART, LLP 5441 Kietzke Lane, Second Floor p: (775) f: (775) e: choward@hollandandhart.com DAN KAHL KAHL COMMERCIAL INTERIORS, INC. 201 W. Liberty Street Reno, NV p: (775) f: (775) e: dan@kahlnv.com ROGER KADZ PLUMAS BANK 1005 Terminal Way, Ste. 246 Reno, NV p: (775) f: (775) c: (775) e: roger.kadz@plumasbank.com LYNDA J. MAHORTER WELLS FARGO 5340 Kietzke Lane, Ste. 200 p: (775) f: (775) c: (775) e: lynda.j.mahorter@wellsfargo.com JOHN MAKSIMIK, CIC, CRM ORGILL/SINGER & ASSOCIATES, INC Kietzke Lane, Ste 115 p: (775) f: (775) c: (775) e: jmaksimik@orgillsinger.com jmaksimik@orgillsinger.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 36

37 CCIM MARKETING AND AFFILIATE MEMBERS These individuals have either not yet declared CCIM Candidacy or work in a field providing support services to commercial real estate professionals, such as title, insurance, escrow, lender, attorney, CPA firms, etc. CHRISTOPHER L. MARTIN RENO SOUTH MEADOWS COMMERCIAL PROPERTIES 8725 Technology Way, Suite C-1 Reno, NV p: (775) c: (775) e: c@renocp.com LUCY MCGUIRE FIRST INDEPENDENT BANK OF NEVADA 5335 Kietzke Lane p: (775) f: (775) c: (775) e: lmcguire@firstindependentnv.com MARK MCKIBBEN HERITAGE BANK OF NEVADA 1401 S. Virginia St. Reno, NV p: (775) f: (775) e: mmckibben@heritagebanknevada.com CORY MILLER FIRST AMERICAN TITLE COMPANY 5310 Kietzke Lane, #100 p: (775) f: (775) c: (775) e: corymiller@firstam.com MEGAN MOSCHETTI HOLLAND & HART, LLP 5441 Kietzke Lane, Second Floor p: (775) f: (775) e: mmoschetti@hollandhart.com JERRY MURPHY EXCEL NATIONAL BANK 4747 Caughlin Parkway Reno, NV p: (775) f: (775) c: (775) e: jmurphy@bankexcel.com BEN NELSON TICOR TITLE COMPANY 5441 Kietzke Lane, Suite 100 p: (775) f: (775) c: (775) e: ben.nelson@ticortitle.com MICHAEL POLLOCK NEVADA STATE BANK One W. Liberty St., 2nd Floor Reno, NV p: (775) f: (775) c: (775) e: Michael.Pollock@nsbank.com JACK W. PRESCOTT, SVP FIRST INDEPENDENT BANK OF NEVADA 5335 Kietzke Lane p: (775) f: (775) c: (775) e: jprescott@firstindependentnv.com RABECCA RICH TICOR TITLE 5441 Kietzke Lane #100 p: (775) f: (775) c: (775) e: rabecca.rich@ticortitle.com DOUG ROBERTS PANATTONI DEVELOPMENT COMPANY 980 Sandhill Road, Suite 200 Reno, NV p: (775) f: (775) droberts@panattoni.com ALICIA ROMAN GRANITE CONSTRUCTION COMPANY 1055 Glendale Avenue Sparks, NV p: (775) f: (775) c: (775) e: alicia.roman@gcinc.com JEFF SHAHEEN SHAHEEN BEAUCHAMP BUILDERS, LLC 3427 Goni Rd., Ste. 109 Carson City, NV p: (775) f: (775) c: (775) e: jeff@sbbuilders.com NATE STEHURA PLUMAS BANK 1005 Terminal Way, Ste. 246 Reno, NV p: (775) f: (775) e: nate.stehura@plumasbank.com ANDY TOURIN FIRST CENTENNIAL TITLE 1450 Ridgeview Dr., Ste. 100 Reno, NV p: (775) f: (775) c: (775) e: andyt@firstcentennial.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 37

38 CCIM MARKETING AND AFFILIATE MEMBERS These individuals have either not yet declared CCIM Candidacy or work in a field providing support services to commercial real estate professionals, such as title, insurance, escrow, lender, attorney, CPA firms, etc. TOM TRAFICANTI HERITAGE BANK OF NEVADA 1401 S. Virginia St. Reno, NV p: (775) f: (775) c: (775) e: ttraficanti@heritagebanknevada.com JUSTIN TRIMBLE SIGNATURE LANDSCAPES 3705 Barron Way p: (775) f: (775) e: justin@siglands.com Signifies a Northern Nevada CCIM Sponsor. Thank you once again for your generous support. 38