What a Year It Has Been

Jeff Milanaik

As my term as chair ends, I wanted to reflect on all we’ve experienced this year and where I see the association heading.

From the beginning, we all expected that 2022 was going to be a rebuilding year for the economy as well as for our businesses as we returned to a new sense of normalcy following COVID. However, I don’t think anyone imagined “rebuilding” would also include at NAIOP, where we celebrated the retirements of longtime executives and welcomed a new CFO and CEO on July 1.

This transition involved significant input from numerous volunteers and led to valuable conversations with chapter leaders and board members on the organization’s future. I am proud of what we accomplished, and I believe that NAIOP is positioned for even greater success because of everyone’s efforts.

This is my fourth real estate cycle, and I consistently share with the younger professionals at my company that it’s organizations like NAIOP that will help us get through this current bout of economic uncertainty. Our education, exposure to economists and thought leaders, and research give us access to real-time information that will help us make good decisions daily.

At the beginning of 2022, I shared my goals as chair, and I’m pleased that much progress has been made on several fronts.

The first is our expanding commitments to ESG and DEI. Across the industry, we’re seeing significant strides in both, thanks to global mindfulness and the rising generation of employees and tenants who have strong expectations regarding these efforts.

Specific to DEI, NAIOP is playing a key role in a cross-collaboration of real estate organizations that are developing a database to connect diverse-owned businesses with CRE companies.

The second is a major legislative win for commercial real estate earlier this fall. Our federal legislative team worked hard to protect the industry in the Inflation Reduction Act, which initially targeted CRE by altering the tax treatment of carried interests.

Ultimately, carried interest changes were removed from the bill. I’d like to recognize Senior Vice President for Government Affairs Aquiles Suarez for his leadership, as well our NAIOP Arizona chapter, led by Chapter Executive Suzanne McKinney, for their efforts working with Senator Kyrsten Sinema, D-Arizona, who played a key role in the legislation. 

In closing, I want to acknowledge and thank each of you for your support this year. As I’ve traveled to visit 16 chapters, it’s been a tremendous honor to meet and hear from so many of you.

Kim Snyder, president, U.S. West Region for Prologis, our 2023 chair, will no doubt take NAIOP to new levels, and the association will be in good hands under his leadership.

Jeff Milanaik
Partner, Northeast Region – Bridge Industrial
2022 NAIOP Chair