In the summer of 1927, on a train from Philadelphia to New York, Harrison S. Colburn, a New York City real estate broker, and soon to be the first President of what is now known as IOREBA, suggested to a New Jersey broker traveling companion that they form an organization of New York and New Jersey industrial real estate brokers. In the Fall of 1927, thirty-three brokers specializing in industrial real estate in the New York-New Jersey Metro area (the Charter Members listed in this Roster) began to meet in a spirit of sociability and friendship, to exchange information relating to their professional activities.

Shortly after its start, the association was formally named the Industrial Real Estate Brokers Association of the New York Metropolitan Area, but was frequently referred to as the "Metropolitan Brokers Association." The first meetings were luncheon meetings at the Hotel Astor, Broadway and 44th Street, and in 1930 the meeting place was moved to the Advertising Club, 35th Street and Park Avenue. Since then, the dinner meetings have moved to the Williams Club, 24 E. 39th St., (1948-50), the Brass Rail Restaurant, 521 5th Avenue (c. 1951), again to the Advertising Club for many years, the University Club, 5th Avenue and 54th Street (1969-73), and in 1973, to the New York Athletic Club, where they are held today.

In 1933, the membership had grown to 40, dues were $5.00, and dinners cost $3-5. Meetings were often combined with trips to major facilities, such as Bush Terminal, N.Y. Dock Co., Starrett-Lehigh Warehouse, Harborside Terminal, and port facilities.

Just prior to World War II, in anticipation and preparation for the war, President Franklin D. Roosevelt's administration asked members of the Association to conduct a national inventory of all industrial plants and warehouses to enable the government to plan war material production. These members contacted and worked with industrial brokers throughout the nation to complete this task and established a network of contacts. Out of the Association's membership came the nucleus, impetus, and incentive to organize the initial chapters of the Society of Industrial Realtors (SIR) in New Jersey and the New York metropolitan area in 1940, and the national SIR organization, now the Society of Industrial and Office Realtors (SIOR).

As the organization grew after the War (75 members in 1948), brokers from Connecticut and Pennsylvania joined. It became evident that more and more expertise and sophistication was necessary and essential in negotiating industrial real estate transactions. Accordingly, the organization opened the doors to membership for qualified individuals and organizations allied with or directly involved in industrial development, such as developers, mortgage lenders, investors, public utilities, and governmental agencies. One of the earliest Associate Members was Steve P. Hackley of the Connecticut Industrial Development Commission. Other early Associate Members included individuals from the New York, New Haven & Hartford Railroad, Con Ed, Brooklyn Union Gas Company, Orange & Rockland Utilities, and NY Dock Company. Today, 140 Members representing 40% of the total membership give IOREBA the balance of professions and contacts necessary to achieve its purposes. In the late 1940's and into the 1960's inspection tours to Pennsylvania and Connecticut were conducted for members. The Utility Companies of Pennsylvania and Connecticut, The New Haven Railroad and the State of Connecticut sponsored trains to take members on tours of industrial properties in their state, often overnight or on weekends. A member recalls, "they were interesting trips, with lots of fun and sociability."

In the 60's, the association was incorporated under the laws of New York State as a not-for-profit corporation. In 1985, the name was again changed to the Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area, Inc. to include brokers and salespeople active in the marketing of office properties, which had become an important part of the business of many members.

IOREBA meetings are held at the New York Athletic Club, 180 Central Park South, Manhattan, New York, at 5:00 p.m., generally on the last Monday of each month from September through April. The first regular IOREBA meeting outside of New York City was the annual Developer's Night held at the Marriott Glenpointe Hotel in Teaneck, NJ, on April 27, 1998, under the leadership of President Robert Scherreik. One of the long established traditions at each dinner meeting is that each member and guest introduce themselves so that all members can get to know each other. In late Spring, more than 200 members and their guests join together for the annual golf, tennis and dinner outing. Initiated in 1980, IOREBA has continually expanded its scholarship program. Substantial cash scholarships are awarded annually to undergraduates studying real estate in Pennsylvania, Connecticut, New York and New Jersey universities and colleges. In recent years funds have also been granted for special needs to high schools in these states.

From the original 33 members in 1927, located in New York City, and Hoboken, Jersey City and Newark, New Jersey, IOREBA membership totals 350. Its members, unique in diversification of talent, are located throughout New York, New Jersey, Connecticut, Pennsylvania, and other states. It is one of the nation's largest local area organizations of its kind, and is the oldest industrial real estate brokers association in the United States.

Prepared by:
John Illengwarth, 8/86, Revised 9/99 and 5/02.