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A Compendium of Property & Capital News
Jun 24
A Compendium of Property & Capital News

BOMA Boston Celebrates Its Centennial, Announces Strategic Plan for Next Century

March 28, 2017 - By Mike Hoban
Rob Brierley and Henry Chamberlain Celebrate BOMA 100 Years

BOSTON–BOMA Boston celebrated its 100th anniversary in style Thursday night, as approximately 350 industry professionals gathered at the UMass Club at One Beacon in Boston to dine, drink, network and to honor the venerable institution.

Founded during World War I, when the entire metropolitan Boston commercial real estate market was comprised of just 20 million square feet, Boston joined BOMA International ten years after its inception. BOMA Boston is now the third largest of the organization’s 90 chapters, with over 700 members, who manage much of the 200 million square feet of property in the Greater Boston market.

Jim DerMinasian, senior VP at Taurus Management Services and 2017 BOMA president, kicked off the brief presentation by noting that congratulatory resolutions had been issued by the Massachusetts Senate, House of Representatives, and the Boston City Council. “As we move into the next century, there continues to be great opportunity for us to contribute to the growth of the industry and impact the Greater Boston real estate market,” said DerMinasian. “It’s an exciting time for Boston and we look forward to being part of the change.”

Mike Gill, director of operations for the Federal Reserve Bank of Boston and BOMA immediate past president, announced that BOMA Boston was “preparing for the next century with an enhanced commitment to our members,” by implementing a four-point strategic plan that focused on four “pillars” – operational (including a re-branding with a new logo, mission, statement and vision); educational (developing strategic relationships with Mass Maritime and Wentworth Institute); industry excellence; and the enhancement of strategic relationships.

Rob Brierley, senior VP of real estate services for Colliers International and BOMA international chair-elect was introduced by BOMA International president and COO Henry Chamberlain, and urged the crowd to attend the 2017 BOMA International Annual Conference & Expo to be held in June in Nashville, TN, where he will be installed as Boston’s first BOMA International chair.

Chamberlain then spoke of his history with BOMA Boston dating back 32 years, and how the regional owners council helped re-focus BOMA Boston’s efforts away from mid-level property management to the owners and asset managers. He also told the gathering, “Boston really wondered what the value was in being affiliated with BOMA International back in 1985, and in the last 32 years, we’ve really built that value through the advocacy, the building codes, and (partnering) with the Greater Boston Real Estate Board.”

Following the program, The Real Reporter spoke with Rob Brierley on his new role as chair of BOMA International. He said that while a lot of the cities are booming, there is uncertainty as to what will unfold under the new administration, particularly with regard to tax reforms, and more specifically, potential changes to the 1031 like-kind exchanges and capital gains rules. “We’re out there advocating, trying to protect the interests of the real estate companies and the industry as a whole, to see that we’re not adversely affected by any of the changes that are coming.”

BOMA Boston Members, UMass Club