Thursday, May 28, 2009

Cyber Security Initiative

The Maryland Association of Realtors held a Commercial Symposium at the new Sheraton BWI today.  Roger Waesche, Executive Vice President and CEO of Corporate Properties Office Trust, told the told assembled commercial real estate professionals, that federal spending for the Comprehensive National Cyber Security Initiative could easily top $100 billion dollars and that a lion’s share of that money will be spent in the Baltimore Washington region. 

Tom Sadowski, the President and CEO of the Economic Alliance of Greater Baltimore said our region already rivals California’s Silicon Valley in the number of IT professionals.

 Joe Burke, Executive Vice President and Senior Managing Director of NorthMarq Capital, said that in spite of the current recession, the “Baltimore Washington region is still considered one of the best places in the country to invest in commercial real estate.” 

All three gentlemen were on a panel entitled Climate Conditions affecting the Commercial Real Estate Market moderated by Anirban Basu of the Sage Policy Group

These were all soothing words for a group of professionals that have been feeling pretty battered for the last year.