May Membership Meeting Recap
Thursday, June 24, 2021
by: Megan Horsfield, BluSky Restoration Contractors

Section: Member News

With a full statewide reopening on the horizon, last month’s Membership Meeting came at just the right time. Members of BOMA San Diego had the pleasure of receiving an update from San Diego’s Legislative Advocate, Craig Benedetto, and an economic forecast from a panel of brokers and an economist. For the past 14 months (but who is counting), many San Diego residents have been solely concerned with the opening status of restaurants, malls, etc. and which tier the county falls into at the time. However, it was extremely beneficial to learn the guidelines that have caused our current tier level to remain stagnant. As we progressed through the membership meeting, Amber Molina, BOMA SD’s President, facilitated conversation between the panelists on the recent and future state of the market, while they successfully addressed different perspectives (tenants, owners/employers, economists). 

Popular discussions centered around the commercial real estate market, tenant/owner relations, and the ongoing effects of COVID-19 on this industry. It was great to see this conversation draw questions from both BOMA’s Principal and Associate members. Specifically, the panelists excelled at answering these questions from both sides of the spectrum. Whether that be regarding compensation to employees sent home during the pandemic, when the right time to acquire a new commercial space would be, or where the sweet spot of retail and office space integration lies. While we navigate the light at the end of a 14-month long tunnel, we are still susceptible to change in the economy. As the speakers brought to our attention, commercial (and residential) properties still face challenges with evictions as city and state leaders try to ease pressure on tenants financially affected by the pandemic. 

BOMA San Diego’s May Membership Meeting was nothing short of informative and included an exceptional amount of detail and knowledge from our speakers.