Lee to Head CCIM Institute

Randal Lee has assumed the presidency of the Greater Los Angeles chapter of the newly renamed CCIM Institute, an organization of commercial real estate executives and professionals that was formerly known as the Commercial Investment Real Estate Institute. This year CCIM will focus on education and “establishing a common language” to clear up misunderstandings about certain terms used by commercial real estate professionals, according to Lee, who is president of Lilly Enterprises Inc., a brokerage, investment and management firm in Hancock Park. He said terms such as “internal rate of return” often hold different meanings for different people, so CCIM will aim to establish a commonly acceptable definition.