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Falls Church, VA (April 8, 2014) - At last week’s CORFAC International conference in San Francisco, during the opening session San Francisco Assessor-Recorder Carmen Chu spoke to the 120 or so commercial real estate pros from the network’s offices throughout the Americas, Europe and Asia. Chu, who participated in passing San Francisco’s payroll tax policy (think Twitter) and also a biotech tax credit, pointed out that commercial parcels in The City’s 49 square miles account for only 8% of all San Francisco parcels, yet commercial properties account for 28% of total assessed values, at an astounding $177 billion.
However, it was Ms. Chu’s comment on construction activity that garnered the unofficial “best comment” of the opening session when she said: “I’ve heard the construction crane has become the official bird of San Francisco.”The CORFAC conference was hosted by San Francisco-based TRI Commercial/CORFAC International. TRI’s President Tom Martindale, SIOR, said that 22 of his agents from the Bay Area and Sacramento/Roseville attended the conference and it was a new CORFAC record for attendance by a single firm. Meanwhile, five guys (not the burger chain!) from the Silicon Valley office of Meacham/Oppenheimer CORFAC International also attended the conference, led by Principal Mike Messinger. About CORFAC InternationalCORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged over 8500 completed transactions annually totaling more than 600 million square feet worth in excess of $52 billion for their customers. For more information on the CORFAC network, contact (703) 532-6160 or visit www.corfac.com.
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