CBPA’s board of directors convened in Santa Monica yesterday for its first in-person meeting of 2023, overlooking the ocean at the headquarters of Douglas Emmett. Leaders from across of the office, retail, and industrial real estate industry gathered to discuss legislative and regulatory priorities, strategize on future political activities, conduct association business, and set the direction for the future of CBPA. Thanks are due to our board meeting sponsors: Douglas Emmett, Hudson Pacific Properties, and Rockefeller Group.

At yesterday’s board meeting, Rob Cord was unanimously voted in as 2023 board chair. Cord has not only been a member of CBPA for 30 plus years but has dedicated over 20 years to the board of directors. Cord brings 41 years of experience in commercial real estate to CBPA. He currently serves as CEO of Advisors Real Estate Asset Services (AREAS) and CEO of Foothill Partners, Inc. His decades of experience in commercial real estate paired with his years of service to the organization make Cord an ideal fit to lead CBPA’s board of directors. Congratulations Rob!

Assemblymember Rick Chavez Zbur (D-Santa Monica) joined yesterday’s CBPA board meeting for a conversation on his work in the Assembly and how we can partner to ensure continued economic opportunity in California. As a former land use attorney, Assemblymember Zbur uniquely understands our industry, and has made a career out of fighting for equality and economic justice. CBPA is honored to work with Assemblymember Zbur and thankful for the important work he is doing in Sacramento. 

CBPA was pleased to welcome special guest Brooke Armour with the California Center for Jobs & the Economy at yesterday’s board meeting for a presentation on the growing trend of outward migration, and the subsequent impacts on commercial real estate. The Center for Jobs and the Economy provides data and information pertaining to job creation and economic trends across the country. CBPA is proud to partner with The Center for Jobs and the affiliated California Business Roundtable in its efforts to strive towards a thriving economy for all Californians.

Governor Newsom released an updated budget proposal today which sets in motion the plan for the Legislature to negotiate and tweak before the June 15 deadline for the budget to be passed. The current budget projections show a $31.5 billion deficit, which is nearly $9 billion more than projected in the Governor’s initial January budget which projected a $22.5 billion shortfall. A summary of the most important portions of the Governor’s May Revise can be found here.