Download the full report as a PDF Here

Download the full report as a PDF Here

And That's A Wrap!

The final day of the 2025 BOMA International Annual Conference wrapped up with impactful educational sessions led by industry experts, the debut of our new One BOMA Recognition lunch and the highly anticipated TOBY (The Outstanding Building of the Year) Awards Reception + Gala. Below are a couple of highlights from our educational sessions: 

Thinking Like an Asset Manager: The session taught attendees new concepts about how they can elevate their management approach. Speakers Mark Dukes, SVP, Operations, Healthpeak Properties and Cary Fronstin, Executive Vice President, Fondry Commercial discussed the importance of having a conversation with an asset manager – rather than just handing them a budget with numbers on it. They explained various types of investments, along with their associated risks and potential returns when evaluating strategic options. The speakers interacted with attendees, answering their questions and sharing examples to brainstorm and evaluate how to best approach a challenge. They presented a case study of a struggling tenant in an office building to encourage participants to see its strengths and methods for opportunities of return. As Fronstin says, “It’s so hard to buy commercial real estate – you have to get creative.” 

Negotiating with Emotional Intelligence for Success and Stronger Relationships: In the rapid development of AI and automation, human skills are valued now more than ever. Speakers Ben Bailey, Managing Director, JLL; Dana Lemelin, Global Head of Learning & Development, JLL and Jessica Pernicone, Head of Solutions Development for Client Value and Growth, JLL discussed how leaders can cultivate emotional intelligence to build trust and ensure positive outcomes in negotiations. Pernicone shared actionable advice: "I always ask folks, what is one question you hope the client doesn't ask? Instead of dreading that question, I always encourage my team to workshop that answer internally, that way they can come prepared with that answer and put their best foot forward." The session emphasized embracing reflection, emotional regulation and resetting to create more positive professional relationships. 

Following this inspiring content, attendees joined the One BOMA Recognition Lunch to honor the contributions and achievements of BOMA members from across the country and world. The Annual Conference is a great chance to celebrate all the wonderful achievements of our members. During the lunch, we honored the Regional Members of the Year, newly inducted Life Members, Distinguished Service Award recipients, the new class of BOMA Fellows, new BOMI designees and more. 

The recognition lunch served as a fitting lead-in to the TOBY (The Outstanding Building of the Year) Awards Reception + Gala. Sponsored by The Home Depot Pro, The TOBY® Awards are the most prestigious and comprehensive awards of their kind in the commercial real estate industry, recognizing quality in commercial buildings and rewarding excellence in building management in hundreds of communities across the country. The program begins at the local level, then regional, culminating in the international awards, which were bestowed at the annual TOBY Awards Banquet.  

Please Welcome Us in Congratulating Our 2025 TOBY Award Winners! 

View the complete list of winners below: 

• Corporate Facility: Pacific Southwest – 100 First Street 

• Earth: Mid-Atlantic – 655 New York Avenue 

• Historical: North Central – 24 East Washington 

• Industrial: Southern – Gateway Commerce Park 

• Life Science: Southern – 8 David Drive 

• Medical: Southern – Baptist Health Plantation Medical Office Building 

• Mixed-Use: Pacific Northwest – Starbucks Center 

• Renovated: Southern – The Exchange on Orange 

• Retail – Enclosed Mall Under 1 Million Square Feet: Canada – Northgate Village Shopping Centre 

• Retail – Open Air/Strip Mall: Canada – 1015 Lake Shore Boulevard East 

• Suburban Office Park – Low-Rise: 1-5 Stories: Canada – Broadway Tech Centre 

• Suburban Office Park – Mid-Rise: 6-12 Stories: Midwest Northern – Northland Center 

• Under 100,000 Square Feet: Pacific Southwest – The Sunset 

• 100,000 – 249,999 Square Feet: Canada – Renfrew Business Centre 

• 250,000 – 499,999 Square Feet: Mid-Atlantic – 25 Mall Rd 

• 500,000 – 1 Million Square Feet: Southwest – McKinney & Olive 

• Over 1 Million Square Feet: Pacific Southwest – Salesforce Tower 

Day 3 Was a Huge Success!

The third day of the 2025 BOMA International Annual Conference began with networking breakfasts such as the Student Day Orientation + Breakfast – with our highest number of students to attend the conference yet – in addition to our Women in CRE Breakfast, where Julie Brown, Founder, Principal, Julie Brown Speaks led the discussion. Brown stressed the significance of a robust network, highlighting that women are less likely to ask for referrals and strategic introductions due to time constraints and civic obligations. She advised participants to reconnect with their existing network to enhance their personal and professional growth. 

Following the networking breakfasts, folks headed toward their building tours led by Boston local guides to immerse themselves in the city while learning about new insights from sites like Fenway Park. Educational sessions held throughout the day covered a variety of areas that helped commercial real estate professionals maximize their potential while bringing essential skills to their careers. Below are some takeaways from the educational sessions: 

• The Gross Up Game: Strategies for Accurate Expense Allocation: Donna Wheeler, Associate Director, Cushman & Wakefield led the discussion on how accurate expense allocation can mean the difference between tenant satisfaction and financial disputes. She compared the different approaches between newer and older buildings and how gross-ups can be applied, in addition to the need for careful lease review to understand specific gross-up provisions. 

• BOMA Floor Measurement Standards — How to Differentiate and Apply: In this interactive panel, featuring moderator Mary Lawrence, President, Dimension Floorplans® and speakers David Fingret, Owner, Extreme Measures Inc.; Mitchell Luehring, Managing Director, Gensler; and Natalie Savas, Senior Associate, CBT Architects they explored the six BOMA Floor Measurement Standards and their applications. Key poll questions included which feature allocates shared conference room areas (answer: inter-allocated areas) and which BOMA 2024 feature facilitates measurement of office buildings supporting lab and research uses (answer: single tenant shafts and multi-tenant shafts). 

• The Future of BEPS: Navigating Regulatory Changes & Market Trends: The session, featuring Stuart Feilden, Strategic Partner Manager, Siemens SI-Buildings; Eshaan Mathew, Business Development Manager, Smart Infrastructure – Buildings; and Arthur Woolverton, Clean Tech Mentor, Siemen highlighted how traditional commercial real estate relies on siloed data and reactive decision-making with legacy systems. They discussed how the industry is evolving toward smart building technologies similar to the iPhone's development since 2007. Data centers represent the most advanced automation example, and the convergence of IT, IoT and cloud platforms is enabling predictive maintenance and integrated building management. With increasing BEPS regulations driving total energy management requirements, the key principle emerged that "you cannot optimize something that's broken," emphasizing the need for robust diagnostic practices before implementing optimization strategies. 

• The End of Energy Star? Implications for CRE: This packed expo session drew countless attendees, with many choosing to stand as all seats were taken, reflecting the industry's deep concern about Energy Star's future. Despite the current administration's threats to eliminate Energy Star, industry experts believe the program will survive in some form, with Duane Desiderio, SVP and Counsel, The Real Estate Roundtable noting "I'm feeling optimistic. I don't believe we're in any way close to the program being eliminated but we have our work cut out for us." The program faces potential restructuring options including DOE takeover, fee-based operations or privatization, but its $34 million cost makes it a valuable investment to maintain. Energy Star's free, credible platform serves as essential infrastructure for building benchmarking, BOMA Best certification, LEED compliance and municipal regulations, with thousands of hours of data entry representing significant investment that would be difficult to replace with private alternatives. Our panelists, Desiderio, along with John Boling, VP, Advocacy & Building Codes, BOMA International; Wayne Talbot, Director of Operations, JLL, along with moderator Rebecca Uusitalo, Senior General Manager, Urban Renaissance Group LLC tackled a hard-hitting topic in a constructive, methodological way. 

Finally, participants joined the ballroom to attend the Monday Keynote. The session began with an incredible performance by three renowned opera singers, thanks to the New Opera Company of Boston. The long-anticipated State of the Industry Address by Mary Lue Peck, President & Chief Operating Officer, BOMA International, featured some key insights: 

• The Real Estate Roundtable Sentiment Index stood at 68, indicating confidence to commercial real estate. 

• Transaction volume increased by 11.3% YOY, led by industrial and multi-family sectors. 

• Foreign investors plan to increase U.S. holdings, prioritizing sustainability and digitalization. 

• The modern workplace must evolve to meet employee needs, honor generational differences and focus on flexibility, wellness and productivity. 

Following the State of the Industry Address, Dan Thurmon, Founder and President, Motivation Works, Inc. gave an inspiring and interactive presentation about what it means to embrace uncertainty and chaos as opportunities for growth. By using interactive exercises like cartwheeling, juggling and riding a unicycle, he illustrated the importance of focus, balance and adapting to new challenges. 

Check Out Day 2

The second day of the 2025 BOMA International Annual Conference kicked off with an outstanding Opening Keynote with Brad Meltzer, Host, History Channel's Lost History and Decoded; New York Times Best-Selling Author. During Meltzer’s presentation, he shared anecdotes from his childhood and early career that demonstrated the resilience that led him to the success he has today. He spoke of “ordinary folks” who made extraordinary differences in his life - like his 10th grade English teacher who believed in his writing ability, and the building manager who let his family of six stay in a one-bedroom apartment when they couldn't afford anything else. These stories deeply resonated with the audience. Such acts of kindness inspired Meltzer’s commitment to giving back, and he encouraged attendees to rely on each other and build the kind of community that drives real progress. 

Following the Opening Keynote was the Board of Governors meeting, the essential governing body of BOMA International, where each local BOMA association gathered to discuss membership updates, advocacy efforts and strategic plans going forward, among other important topics. Most notably, the session was an opportunity to introduce the new executive committee members. See below for our new 2025-2026 officers! 

• Luci Smith, Chair and CEO, BOMA/Orlando 

• Kjersten Jaeb, Chair-Elect, BOMA/Greater Minneapolis 

• Don Fairgrieve-Park, Secretary/Treasurer, BOMA/British Columbia 

• Glenn Good, Vice Chair, BOMA/San Francisco 

In the afternoon, attendees explored the Expo, discovering new solutions from over 300 trusted companies in the commercial real estate industry. The exhibit hall featured unique experiences like prize drawings, interactive games and the particularly popular Paws & Relax booth where folks could cuddle with adoptable puppies. Beyond business and networking, attendees had the chance to give back by assembling "summer survival kits" for at-risk youth as part of Boston's Bridge Over Troubled Waters charity. Click here to learn more about this important charity and our fundraising goals. 

The expo also featured Solutions Showcases, where attendees could listen to subject-matter experts through noise-cancelling headphones connected directly to each speaker's microphone. These sessions highlighted innovative approaches that property professionals are adopting today. For example, Orlane Panet, Co-Founder & CEO, MicroHabitat Urban Farming led the “Valuing Nature: Urban Biodiversity in Property” session, discussing how urban farming in commercial buildings can boost occupant retention, foster connection to nature and create positive social impact. She emphasized that "70% of the world population will be living in urban areas by 2050," explaining why companies like MicroHabitat are focusing on rooftop biodiversity initiatives as available land becomes increasingly scarce. 

The day concluded with educational sessions covering diverse topics. One standout was “Negotiating Success: The Art of Business Narrative,” led by speaker Paul Voss, President, Ethikos, which focused on helping participants develop their personal brand and storytelling skills. Voss emphasized the importance of ethos (credibility), logos (logic) and pathos (emotion) as essential elements for building trustworthy and empathetic relationships with clients. Following this year's interactive discussion hubs format—committee meetings designed to encourage active participation—the session included a confidence-building workshop. Participants practiced sharing "their story" with fellow attendees, refining both their personal narrative and professional presentation as business leaders. 

The First Day of BOMA International's 2025 Conference & Expo is In The Books! 

The 2025 BOMA International Annual Conference began on Saturday, June 28. Day one of the four-day conference focused on committee meetings and discussion hubs. Discussion hubs are reimagined committee meetings designed to be more inclusive, allowing all attendees to actively participate in discussions rather than just observe traditional business meetings. This method proved to be a success, as participants were eager to share their perspectives and practical tips from their experience. Below is an overview of some of the discussion hub highlights:

Industry Defense Fund Oversight Committee: The Industry Defense Fund Oversight Committee (IDF) is the approved body for all requests for assistance with the financing of advocacy or legal challenges at the federal, state and local levels. The IDF provides oversight of disbursements ensuring that recipients meet the criteria for funding.

• Overview: During the meeting, they discussed the value of publicizing IDF and making committee information publicly available for recruitment and retention. Suggestions included:

• Tapping into LinkedIn for citing resources

• Creating a public landing webpage for IDF info

• Creating a 30-minute to one-hour podcast to cover all IDF topics, as a great way for CRE folks to catch up on the latest industry insights

The discussion concluded with a focus on improving communication and publicizing the value of IDF efforts.

Preparedness Committee: The Preparedness Committee provides industry leaders with a forum to collaborate on ways to improve emergency preparedness and increase building resilience. Committee members serve as a resource to ensure BOMA members have the best information and tools to respond appropriately and recover quickly from emergency situations, natural disasters and other building security issues.

• Overview: The Preparedness Committee discussed the impact of recent events on property management and security. Key points included:

• The rise in political polarization

• Extremism

• Global conflicts and economic concerns

The committee broke down how these conflicts affect commercial real estate, particularly how it increases security demands, budget constraints and the need for better communication with tenants. They shared strategies for customizing security programs, enhancing situational awareness and integrating technology. A popular topic included the importance of empathetic communication, emotional intelligence and de-escalation techniques in handling angry tenants and staff. The session emphasized the need for consistent preparedness plans and training across different jurisdictions.

Discussion Hub: Diversity Equity and Inclusion: This important discussion empowers those of diverse backgrounds to develop and thrive in commercial real estate. The discussion hub was led by Michael A. Bowman, Esq., VP, Association Services, BOMA International, host of the DIVERSITAS podcast, and Jamal Johnson, General Manager, Comcast.

• Overview: Bowman and Johnson focused on the importance of diversity, equity and inclusion (DEI) in procurement. Bowman shared his experience in developing procurement diversity plans, highlighting a successful $600 million project at the Pennsylvania Convention Center. He emphasized the need for companies to align DEI goals with corporate objectives to maintain competitive advantages. Johnson discussed initiatives like mentoring agreements and partnerships with local businesses to support diverse vendors. They stressed the economic benefits of DEI, including cost savings and community impact, and the importance of continuous efforts to ensure diverse companies are competitive and successful.

Discussion Hub: Industrial Real Estate: Industrial real estate is changing due to financial pressures, environmental challenges and new technology. In this session, attendees shared their insights on navigating these shifts and operational challenges. The Industrial Real Estate Discussion Hub is a great opportunity to hear different perspectives about solving issues from CAM charges to water costs to AI automation.

• Overview: The discussion focused on sustainability measures in industrial real estate, particularly in California, where over 90% of certified properties are located. New developments are incorporating energy-efficient features like motion sensor controls and water conservation systems. Decarbonization efforts involve buying credits and planting trees. Insurance costs for snow vendors in Pennsylvania have surged, leading to vendor shortages. The conversation also touched on the impact of ENERGY STAR certification and the potential loss of incentives. The meeting concluded with a reminder of upcoming industrial-specific education classes.

Discussion Hub: Workforce Development: In this interactive session hosted by BOMA International's Workforce Development Committee, which serves as a central liaison among all BOMA committees involved in shaping the future of the commercial real estate workforce. This cross-functional hub brought together the perspectives, priorities and initiatives of key groups working to address industry-wide talent challenges.

• Overview: The discussion on workforce development emphasized two main goals:

• Increasing the workforce pipeline

• Supporting a diverse industry

Attendees highlighted the Daniel Chancey Leadership Academy's success and the upcoming Student Day with 49 students expected Monday, June 30. They shared insights from the Emerging Professionals Committee, which launched a monthly recognition program on LinkedIn and a conference roadmap. In addition, the group discussed industry talent shortages and how mentorship, internships and career development workshops are key to retention.

Discussion Hub: Emerging Professionals: This idea-sharing forum focused on those starting out their careers in commercial real estate and how experienced professionals can help create workplaces that are appealing, challenging and rewarding for emerging professionals. The discussion was facilitated by members of BOMA International's Emerging Professionals Committee.

• Overview: Matt Faupel, Vice Chair of the Emerging Professionals Committee (EPC) and Senior Property Manager, Cushman & Wakefield, opened the session with a fun “rock-paper-scissors extreme” ice breaker. Attendees had the opportunity to get to know each other’s names and loosen up before diving into essential CRE topics. Key points included the importance of following BOMA on LinkedIn, the monthly emerging professional feature, and the new "Know Before You Go" guide. Faupel emphasized the simplicity of becoming a member of the EPC – it’s as simple as having less than seven years of industry experience and emailing ep@boma.org to join our monthly calls. Participants shared insights on the challenges of commercial real estate, such as:

• Managing diverse assets

• Customer service demands

• Working remotely as a property manager

Practical advice was given on remote property management, leveraging technology and maintaining strong tenant relationships. Attendees stayed after the session to get to know each other, network and become more involved with the EPC.

New Jersey is set to implement a significant change in hiring practices with the enactment of the Pay Transparency Law, effective June 1, 2025. Signed into law by Governor Phil Murphy on November 18, 2024, this legislation mandates that employers disclose compensation and benefits information in job postings and promotion announcements.

Who Must Comply?

The law applies to employers with 10 or more employees over a 20-week period who conduct business, employ workers, or accept applications for employment within New Jersey. This includes private businesses, public entities, and employment agencies. Notably, the 10-employee threshold is based on total employees, not just those working within the state.

Key Requirements

Under the new law, employers must:

• Disclose Compensation: Include the hourly wage or salary, or a range thereof, in all job postings, whether internal or external.

• Provide Benefits Information: Offer a general description of benefits and other compensation programs available to employees in the position.

• Announce Promotional Opportunities: Make reasonable efforts to inform current employees of promotional opportunities within their department before making a promotion decision. Exceptions apply for promotions based on seniority, performance, or emergent needs.

Enforcement and Penalties

The New Jersey Department of Labor and Workforce Development will oversee compliance. Employers found in violation of the law may face civil penalties:

• $300 for the first violation

• $600 for each subsequent violation

Each posting or promotional opportunity that fails to meet the transparency requirements constitutes a separate violation. However, employers will not face separate penalties for job listings or promotional opportunities listed on multiple forums.

Preparing for Compliance

To ensure compliance by the effective date, employers should:

• Review and Update Job Postings: Ensure all job listings include the required compensation and benefits information.

• Communicate Promotional Opportunities: Establish procedures to inform employees of internal promotional opportunities.

• Train HR and Management Teams: Provide training on the new requirements to ensure understanding and adherence.

By taking these steps, employers can align with the new law and promote transparency and equity in their hiring and promotion practices.

For more information and resources, visit the New Jersey Department of Labor and Workforce Development's official website.

Download the full report as a PDF Here

Barbara Quintana, Director of Property Management at SJP Properties, has been a dedicated member of BOMA NJ for four years, a BOMA NY member since 2006 and before that she was a member of BOMA Chicago, where she served on the Board. Her extensive experience in property management, sustainability initiatives, and tenant relations has made her a respected figure in the industry. Barbara’s commitment to excellence and passion for advancing the commercial real estate sector aligns perfectly with BOMA NJ’s mission to support and empower its members. 

“We are excited to welcome Barbara to the BOMA NJ Board of Directors,” said Connie Calantropio, President of BOMA NJ. “Her expertise, vision, and dedication to the industry will be invaluable as we continue to advocate for our members and drive innovation in the commercial real estate space.” 

Barbara expressed her enthusiasm for the appointment, stating, “I am honored to join the BOMA NJ Board of Directors and look forward to collaborating with such a talented group of professionals. Together, we will work to advance the interests of our members and ensure the continued growth and success of the commercial real estate industry in New Jersey.” 

Please welcome Barbara Quintana to the BOMA NJ Board of Directors. We are confident that her contributions will impact our organization and the industry as a whole.  

BOMA New Jersey announced that with a career change on the horizon, Dominick Pico left his position as President of BOMA NJ to pursue new endeavors. BOMA NJ extends its sincere gratitude to Dominick for his dedicated service and leadership during his tenure.

The BOMA NJ Board of Directors is pleased to announce that Connie Calantropio of CBRE will assume the role of President, completing the remainder of Dominick's term. Connie brings a wealth of experience and a strong commitment to BOMA NJ and the commercial real estate industry. We are confident that her leadership will successfully guide the organization forward.

"We thank Dominick for his contributions to BOMA NJ," said Amanda Zega, Immediate Past President, "We are also excited to welcome Connie into her new role. Her experience and dedication will be invaluable as we continue to serve our members and advance the interests of the commercial real estate industry in New Jersey."

Connie Calantropio has been an active member of BOMA NJ for many years and has held various leadership positions, most recently serving as Vice President and Treasurer. As a Senior Real Estate Manager with CBRE, Connie oversees the property management of 1.2 million sf of commercial office space at MetroPark in Iselin, New Jersey. Connie has over 25 years of experience in the property management industry, managing Class A and B office buildings and retail and flex warehouse space for institutional clients and private owners.  Connie holds a New Jersey Real Estate License and has earned a Real Property Administrator (RPA) designation from BOMI International.

"I am honored to take on the role of President of BOMA NJ," said Connie Calantropio. "I look forward to working with the Board of Directors, our members, and our industry partners to continue to build a strong and vibrant organization."

In addition to the presidential transition, BOMA NJ announces the following officer changes, reflecting the organization's succession plan:

• Vice President: Christina Honthy of JLL will step into the role of Vice President.
• Treasurer: George Cella of BXP will take over as Treasurer.
• Secretary: Jay Greeley of Progress Realty Partners has been appointed Secretary.

The BOMA NJ nominating committee will work to fill the vacant seat on the Board of Directors created by Jay Greeley's elevation to the Executive Committee.

BOMA NJ remains committed to providing its members with valuable resources, education, and advocacy. We look forward to a seamless transition and continued success under Connie Calantropio's leadership.