NAIOP Mourns the Loss of Frank Wuest

NAIOP, its leadership, and its members all Wuest_Frankmourn the loss of Frank Wuest, a long time friend, past President, and avid supporter of NAIOP. We will miss his friendship, enthusiasm for life, and his upbeat attitude. To his family and friends, we give our deepest sympathies.

Frank Wuest died on Saturday, August 13, while participating in a fundraising swim in Narragansett Bay, Rhode Island. An avid and skilled swimmer, Frank was 56 years old, a native of Greenwich, CT, graduate of the University of Connecticut and Harvard Business School, and was President of Marcus Partners, having established a successful career in real-estate investment and development.

Passionate about Boston, its people, and its landscape, Frank loved leading the development of vibrant, mixed-income, mixed-use communities. His work included well known developments such as University Park at MIT and Radian in the Leather District of Boston, which he completed while at Forest City Enterprises, where he was for many years president of the Boston office and Head of the Science + Technology Divisions. He served on both the executive committee and board of directors of A Better City as well as the international advisory board of Harvard Business School’s Real Estate Academic Initiative. Mr. Wuest was the Vice Chair of the Advisory Board of the Boston District Council of the Urban Land Institute (ULI) and was a past President and long time member of the Board of Directors of the Massachusetts Chapter of NAIOP, the Commercial Real Estate Development Association. His kindness, intelligence, generosity, and quick smile will be missed greatly.

Frank became a committed long-distance swimmer in 1998, and was a beloved member of the Cambridge Masters Swim Club at Harvard. He was the recipient of many awards including United States Masters Swimming (USMS) Long Distance All Star, USMS Individual All-American, and many USMS Top-10 swims. Earlier this summer, Frank completed a 10,000M swim for time and was the top male finisher in the annual Charles River Swim.

Frank inspired those around him to do their best. A champion of family and time together, he never let a summer go by without a family reunion. He is survived by his wife, Lyn Duncan; two children, Sam Wuest and Allie Wuest and their mother MJ Vigneau; two stepchildren, Micki Duncan and Elias Duncan; his parents Gail and Frank Wuest of Connecticut, two brothers, Kirk of California and Chris of Connecticut, and his sister Avery Horne of Connecticut.

Funeral Mass and Life Celebration

A funeral mass will be held Saturday, August 20 at 11:00 am at St. Paul Church, 29 Mt. Auburn St., Cambridge, MA. An event celebrating Frank’s life will be held immediately following the mass at the Harvard University Murr Center. Because there is no parking at St. Paul Church, parking will be provided at the Harvard Stadium lot next to the Murr Center at 65 North Harvard St, Boston, MA 02163. Shuttle buses will provide transportation between the Murr Center and St. Paul Church before and after the service.

Immediately following the funeral Mass a luncheon reception and celebration will be held at the Harvard University Murr Center Hall of History, adjacent to the parking noted above.

In lieu of flowers, donations can be made to the Frank C. Wuest Memorial Fund, established through Fidelity’s Charitable Gift Fund. Details can be found below.


Frank C. Wuest Memorial Fund
Make checks payable to:
The Fidelity Charitable Gift Fund
Memo:  The Frank C. Wuest Memorial Fund, Giving Acco
unt #1098999

Checks need to be able to be drawn on a US Bank and should be in US Dollars.
We cannot accept cash like instruments (bank checks, cashier checks, money orders, postal orders, etc.)

Regular Mail Address:                                       Overnight Delivery Address:
Fidelity Charitable Gift Fund                        Fidelity Charitable Gift Fund
Mail zone:  KC1D                                               Mail zone KC1D-FCS
P.O. Box 770001                                                100 Crosby Parkway
Cincinnati, OH 45277-0053                           Covington, KY 41015-9325

If you have any questions about the donation process, please call Fidelity Charitable Gift Fund at 1-800-952-4438 or visit Please reference “The Frank C. Wuest Memorial Fund”, Giving Account #1098999.

The Fidelity Charitable Gift Fund is a 501c-3 tax-exempt organization. Its federal Tax Identification Number is 110303001.

Event Recap: Leadership Lunch + Learn at 101 Seaport

The following blog post was written by Chloe Louise Bouscaren, Marketing and Business Development at CBT Architects.

“An Inventive Setting to Spark Inventive Thinking”

IMG_20151111_122627151On Wednesday, Nov 9th NAIOP hosted a Members-Only Leadership Luncheon at 101 Seaport Boulevard, the new home for PricewaterhouseCoopers, a multinational professional services network. PwC relocated 3000 employees from 125 High Street to Boston’s Seaport District. Shawn Hurley, the Executive Vice President and Regional Manager of SKANSKA USA Commercial Development hosted NAIOP on the building’s 7th floor, the only space that has yet to be leased. Shawn was joined by Charley Leatherbee, VP of Development; Levi Reilly, Director of Development; and Patrick Sousa, Manager of Development, who all played important roles in the success of this high-profile project.

IMG_20151111_121118778The newly constructed 17-story, 440,000 RSF, LEED Platinum state-of-the-art office building was developed by SKANKSA USA Commercial Development Team in Boston. Highlights included a chilled beam mechanical system, triple glazing curtain wall, 300 underground parking spaces, world class retail by WS Development, expansive views of the harbor and Seaport, conference and training centers, and virtually column free floorplates. 82% of the building is occupied by PwC, tenants Red Thread and Skanska will be joining them soon. NKGF’s Dave Martel and Bill Anderson are responsible for the leasing and deal negotiation.IMG_20151111_120951643_TOP

Located on what will be the new Seaport Square Green, 101 Seaport connects directly to Fan Pier Park, creating a continuous public space that reaches Boston Harbor and connects to the Harborwalk Grand civic lawn to support active recreation and public events.CBT2

SKANSKA is also currently working a neighboring 17-story office tower, 121 Seaport, as well as Watermark Seaport, a 300-unit residential complex both on neighboring parcels.CTjJnD2VAAAiuyx.jpg large

For those who have yet to hear Shawn’s presentations on SKANKSA’s developments in the Seaport and beyond, his confidence and presence is unparalleled. Shawn has an innate way of making an audience feel comfortable and that day, we all felt we were part of something big. SKANSKA is clearly making development history in Boston and Shawn and his group are leading that charge the titans of the real estate industry. Hats off gents.

Quick Project Stats
Project Cost: $290M
Project Duration: 26 months
PwC Employees: 3000 (20% more people in 12% less space)
Designer / Design Firm: Jonathan McGuiness, Jacobs Engineering Group

NAIOP’s on-going Leadership Lunch and Learn series is open only to Members and offers unparalleled access to top local real estate leaders. Attendees get an inside look at the area’s most active CRE companies and hear about their latest developments, recent activity, upcoming projects, and more. Not yet a NAIOP Member? Join today!

Ridesharing May be Saved by Technology

RideshareThe Clean Air Act was created to respond to the ever-increasing air pollution that has come from industrial expansion and a reliance on fossil fuels for energy and transportation. Automobiles are a major source of air pollution (e.g. hydrocarbons, nitrogen oxides and carbon monoxide). It is estimated that road traffic accounts for about 40 percent of the pollution that contributes to ground-level ozone (the main ingredient in smog).

Single occupancy vehicles have long dominated the roadways, especially for commuters. In an effort to reduce pollution, states, like Massachusetts, have adopted Rideshare Programs. Ridesharing is the sharing of vehicles by passengers to reduce vehicle trips, traffic congestion and automobile emissions. Ridesharing (carpooling, vanpooling, public transport), as well as bicycle commuting and walking, are all goals of these programs.

Locally, the idea has been for Massachusetts Department of Environmental Protection (MassDEP) to work with large employers (with more than 1,000 employees) to promote commuting options. The program depends on corporate surveys of worker commuter patterns, providing a menu of commuting options, offering incentives, and documenting the resulting annual changes in patterns, hopefully to successfully meet a specific performance goal of reducing by 25 percent the number of times commuters drive alone to work.

Unfortunately, for various reasons, these programs have had limited success, but continue to burden the employer with annual compliance costs. Part of the problem has always been the difficulty of organizing car-pooling and the uncertainties due to the drivers’ and passengers’ daily schedules.

We are all getting accustomed to technology searching for logistical problems to solve. The ridesharing conundrum is one of those problems and “real-time ridesharing” are the solutions beginning to be provided by Transportation Network Companies, such as LyftUber and Sidecar. These companies, with their mobile apps, arrange one-time rides on an on-demand basis.

Both Lyft (Lyft Line) and Uber have now introduced a carpooling service in Boston. Passengers along a route get in the car at a price cheaper than the ride-for-hire alternative. The trip has to maintain its original route as it picks up other customers, who have to be ready immediately to get in the car when it arrives for them.

Although this service is currently limited to the Boston/Cambridge market, there is no question that an expansion of this service into the suburban market is inevitable.

It is also not very difficult to foresee an app that allows single occupancy drivers to easily connect with fellow commuters heading in the same direction, on a ride by ride basis. With no long-term commitments and many scheduling alternatives available, it seems like an easy fix. Yeah, we’ve got an app for that!

MBTA Control Board’s First Report Shows Urgent Need For Change

The MBTA’s new Fiscal and Management Control Board (FMCB) has just issued its first 60-day report identifying the scope of the challenges facing the T. The GreenLineFMCB has been tasked with identifying and shaping solutions to improve operations and performance. The report is extensive, probing, and extremely candid. The Board members should be congratulated on producing such a clear case for moving from the status quo to a system that is reliable, transparent, and sustainable.

It is no surprise that the some of the underlying problems are even more serious than originally thought. Firstly, the MBTA’s annual operating budget is unsustainable, with expenses increasing at nearly three times the rate of revenue growth. Secondly, annual capital spending on deferred maintenance and capital investment is substantially below the $472 million annual spending needed to prevent the backlog from further increasing. The prolonged under-spending has caused the backlog in capital investment to rise to $7.3 billion. The report states that the management team has committed to ensuring that available capital funds are spent, maintaining the MBTA system at a level that will prevent the backlog from further increasing while improving the overall condition of the system and its facilities as expeditiously as possible.

The FMCB has reported some progress:

• Total Capital spending increased to $740 million in FY2015 and is budgeted to be $1.05 billion in FY2016.
• The MBTA planned, designed, and is executing a Winter Resiliency Plan to better prepare the system to withstand major storms and extended periods of cold.
• The MBTA and Keolis Commuter Services have signed a Performance Improvement Plan and are working to address identified shortfalls in performance.
• The FMCB and MBTA management are developing a strategy to make improvements in the procurement and contracting processes and to review all existing service contracts (e.g., the MBTA issued a Request for Information for the private-sector on some low and moderate ridership bus routes, express bus routes, and late-night bus service).
• The FMCB and MBTA management are focusing on performance metrics to drive improvement in MBTA operational practices and to expand transparency and accountability with the riding public.
• The FMCB and MBTA leadership are also pursuing efforts to increase workforce productivity and to reduce absenteeism among MBTA staff.
• The FMCB is committed to a positive employee engagement program, understanding that morale, sense of mission, clear management and decision-making structures, and workforce investments are all necessary ingredients for any successful organization.

It is very clear to the reader of this report that the work of FMCB has just begun. The goal is to have a transit system that is sustainable and accomplishes its mission. Hopefully, in the not too distant future, the MBTA will be operating efficiently. It will certainly take a lot of work by a dedicated management team and workforce. However, there is no alternative. Businesses, residents, and workers must have an MBTA that is reliable.

Business Coalition Urges Governor and Legislature to Create World-Class Transit System

A broad coalition of 25 business associations representing large and small employers from a wide range of industries today issued the following statement urging the Governor and the Legislature to adopt the recent recommendations made by the Special Panel to Review the MBTA and to swiftly begin the task of fixing the state’s public transit system:

Business Coalition Statement in Support of a World-Class Transit System

The Challenge
The winter of 2015 highlighted the Commonwealth’s transportation vulnerabilities, particularly for the MBTA. While school and business cancellations, a dramatic drop in retail sales, and an increase in public safety risks result from many major winter storms, the complete shutdown of the MBTA followed by a prolonged reduction in services for the subways and commuter rails are not the norm.
The unreliability of our public transit system caused many businesses to lose substantial revenues from the loss of productivity due to delays and/or the inability of workers to get to work. Many hourly workers forfeited wages; many retailers forfeited sales; many restaurants forfeited patrons; and the Commonwealth forfeited the income, sales and meals tax associated therewith. A sub-optimal public transit system also caused roadways to be more congested than usual and commuting times to grow to unreasonable lengths for those who opted to drive or were transporting goods. The adverse financial impacts totaled in the billions of dollars. This is unacceptable and must not be repeated.

The Framework
Due to the urgency of fixing the MBTA and the need for the public transit system to be reliable and fully functional, the undersigned business organizations are requesting policy makers to address the following issues:
• Make the T a customer-focused organization that provides first-rate service and clear communication while instilling confidence in its ridership.
• Provide greater accountability and transparency for the T’s governance and management practices to ensure the entity is efficiently and effectively run while employing a productive workforce.
• Develop a long-term strategic and capital plan for the T that efficiently uses its resources to enhance the current capabilities and future needs of the T, businesses and workers, while providing sufficient funding to cover the costs.
• Overhaul the T’s procurement and maintenance practices so that the system is safe, reliable and in a state of good repair.
• Establish metrics, milestones and regular reporting to ensure proper implementation of the T reforms within a reasonable period of time.
• Ensure that the T balances its operating budget without the need for ever-increasing state assistance each year.

The Solution
The undersigned support this position and urge the Governor and the Legislature to act swiftly so we can begin the arduous task of fixing the state’s public transit system.

Following a thorough analysis of the various recommendations from the Governor’s Special Panel to Review the MBTA, and measured against the principles outlined above, we endorse the Panel’s proposal and urge the Legislature to adopt the plan immediately.

The following business organizations support this statement:
495/MetroWest Partnership
Affiliated Chambers of Commerce of Greater Springfield
American Council of Engineering Companies of Massachusetts
Associated Industries of Massachusetts
Associated Subcontractors of Massachusetts
Construction Industries of Massachusetts
Environmental Business Council
Greater Boston Chamber of Commerce
Greater Boston Real Estate Board
Massachusetts Biotechnology Council
Massachusetts Chemistry & Technology Alliance
Massachusetts High Tech Council
Massachusetts Lodging Association
Massachusetts Petroleum Council
Massachusetts Restaurant Association
Massachusetts Taxpayers Foundation
Massachusetts Technology Leadership Council
Massachusetts Business Roundtable
Metro South Chamber of Commerce
NAIOP Massachusetts, The Commercial Real Estate Development Association
National Federation of Independent Businesses
Neponset Valley Chamber of Commerce
North Shore Chamber of Commerce
Retailers Association of Massachusetts
South Shore Chamber of Commerce

Quotes from Business Coalition Members:
“The unreliability of the public transit system has caused many businesses to lose substantial revenues from the loss of productivity due to delays and the inability of workers to get to work,” said Richard Lord, President and Chief Executive Officer of Associated Industries of Massachusetts (AIM).

Eileen McAnneny, President of the Massachusetts Taxpayers Foundation, said, “Now that the breadth and severity of the problems confronting the MBTA have been revealed and the price of inaction is evident, we have a real opportunity to move forward with a plan for transforming the MBTA into a modern, world-class public transit system.”

“The transit system experienced a ‘stress test’ and failed. The time is right to not only fix today’s MBTA, but ensure that it will meet future demands,” said David Begelfer, CEO of NAIOP Massachusetts, The Commercial Real Estate Development Association.

“The MBTA is critical to Greater Boston’s economy. Workers, customers, patients, students and tourists depend on it every day. We need to take the T to the next level right away,” said Paul Guzzi, President and CEO of the Greater Boston Chamber of Commerce.

Making the Olympic Argument with NAIOP: 2024 and Beyond

The following blog post was written by T.J Winick, Vice President at Solomon McCown & Company.

It’s only been about 50 days since the Elisif_20150224_0962United States Olympic Committee officially named Boston as America’s bid city for the 2024 Summer Olympics. Yet it was quite apparent at Tuesday morning’s NAIOP Massachusetts’ Breakfast Panel that Boston 2024 has settled on its pitch to the public: The quest to host the Games is all about “the future of Boston”. The phrase repeated over and over at the event (entitled 2024 Olympics: Vision, Opportunity and a Catalyst for Change) was “2030 and beyond.” As in, “This isn’t about those 30 days in the summer of 2024, it’s about what we want our city to look like in 2030 and beyond.”

Moderator Tom Alperin, President of National Development, remarked, “We can win by losing,” meaning that Boston will benefit from a fierce debate over infrastructure and sustainably whether we’re awarded the games or not. That sentiment was echoed by panelists Rich Davey, CEO of Boston 2024 and former Mass. Secretary of Transportation; David Manfredi of Elkus-Manfredi Architects; David Nagahiro of CBT Architects and Stephen Thomas of VHB. However, winning, as Manfredi noted, is the name of the game.

This was a coming out party of sorts for Davey, who was only recently named CEO of the effort to submit Boston’s bid to the International Olympic Committee. He’s pledging that ours would be a new type of Olympics: Sustainable, largely privately-financed with no cost overruns, and that leaves a positive legacy. He cited a quarter of a billion dollars in foundation grants that have been handed out by Los Angeles over the past 31 years, financed by their hosting the 1984 games. That’s the type of legacy the Boston Games would leave, Davey insists, not the fraud, waste and abuse the anti-Olympics crowd argues would cripple the region.

It was Manfredi’s presentation that focused on real estate: in this case, potential Olympic venues. One of the reasons Boston was chosen to represent America (over New York, Washington, D.C. and San Francisco) was the viability of hosting the most “walkable” Olympic Games in history, with 28 of the 33 proposed venues within a 10 kilometer radius and an average of 5.3 kilometers between each venue. The Olympic Village, which must house 16,000 individuals, would be built on Columbia Point, which is currently home to UMass Boston. About 5,000-6,000 of those beds would later become UMass student dorms, helping to satisfy the school’s goal of adding student residences. The remainder would be transformed into affordable and workforce housing, helping Mayor Walsh achieve his goal of 53,000 units of new housing by 2030.

David Nagahiro, whose firm CBT is focused on the village, underscored the concept of a sustainable games when he noted that, “UMass students are interchangeable with Olympic athletes” in benefitting from modern dorms and amenities overlooking Boston Harbor and the Harbor Islands. It’s this type of development that would help transform the University, typically thought of as a commuter school, into a more residential campus. Nagahiro, who recently visited London and Barcelona to speak with former Olympic officials there, gushed about long-term benefits enjoyed by the former Olympic hosts. Back in Boston, infrastructure improvements would also mean UMass students would enjoy a new transportation “Superhub” at the JFK-UMass Stop along the MBTA’s Red Line.

Moving 635,000 athletes, media, staff, volunteers and spectators between the city’s two Olympic “Clusters” (A Waterfront Cluster downtown and a University Cluster encompassing M.I.T., Harvard and B.U.) is Thomas’ and VHB’s domain. He insisted that Boston proves its ability to host multiple, massive events annually with the Boston Marathon and a morning Red Sox game every Patriots Day. While the MBTA is currently is crisis mode, everyone on the panel agreed that the T must be a catalyst for moving this bid forward and that public transportation is the key to economic opportunity and growth. While not as “sexy” as new train cars, Davey pointed out that signal and power systems, along with capacity improvements, would benefit Greater Boston long after the games are gone. The numbers being cited by Boston 2024 are $5 billion in transportation investment already underway and an additional $5 billion planned. However, some of those numbers were called into question in a Boston Globe article that came out the same morning as the panel.

In 2017, Boston will find out if its quest to host the games was successful. If it is, it could mean beach volleyball on the Boston Common and Olympic baseball at Fenway Park, not to mention more than 600,000 visitors to our city over a 30 day stretch. But for those looking to make the games a reality, clearly 2024 would be just the beginning.

Thank You Governor Patrick

Deval_PatrickAfter eight years of leadership, later today Governor Patrick will take the Lone Walk and return to the private sector. In addition to the fact that during the past 100 years only one other governor of Massachusetts (Dukakis) has served the Commonwealth for eight uninterrupted years, Governor Patrick leaves behind a long list of accomplishments that have made Massachusetts a better place to live and work.

The Governor was one of the best salesmen/spokesmen for the Commonwealth that we have had in recent history. He traveled across the state and to numerous countries on trade missions. Having joined him on the mission to Israel, I can personally attest to the positive reactions he received from countless encounters with political leaders and business representatives. Many business partnerships have resulted from these missions and we have never seen such a spike in direct flights to and from Boston and many global markets.

The Patrick Administration supported business growth, with a particular focus on the life sciences and renewable energy sectors. This resulted in a substantial surge in employment growth, making Massachusetts a national leader in these emerging fields.

Governor Patrick also oversaw one of the first top-to-bottom regulatory reevaluations for all state agencies. Nearly 2,000 regulations were reviewed to determine which regulations should be rescinded or modified. In addition to this review, a system was put into place requiring that draft regulations go through an extensive vetting process and review by A&F, the Regulatory Ombudsman, and lastly, the Governor. As a result, MassDEP led the way on regulatory reform by establishing a target list of 21 different reforms within the Department. Most of these resulted in regulatory changes that will make a substantial improvement on the cost and time for the regulated community, without diminishing environmental protection.

While Governor Patrick worked to ensure government operated at “the speed of business,” he also never lost sight of the fact that he represented all of the citizens of the Commonwealth. People mattered to him and he learned from their stories. Their experiences shaped his leadership and policy priorities. Today’s column in The Boston Globe by Shirley Leung is a perfect example of this.

So, after eight years, we thank you Governor Patrick for your unwavering commitment to the people of Massachusetts and we wish you all the best in whatever the future may hold.