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PROGRAM

Thursday September 17, 2009
Click Here to Download the Presenter Biographies

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  All delegates will automatically be registered to attend the Colliers International Market Update Presentations.

 

 


 

7:00 a.m. ONSITE REGISTRATION & CONTINENTAL BREAKFAST
   
7:45 a.m. OPENING PRESENTATIONS
   
  INTRODUCTION AND HOST FOR THE OPENING SESSION

Scott Addison, Executive Managing Director,
   Industrial & Investment Practice Groups, Colliers International
 
  ECONOMIC OUTLOOK FOR 2010: HOW CLOSE IS THE LIGHT AT THE END OF THE TUNNEL?

An insightful examination of key trends in the North American economy with a specific view towards their future direction over the short and medium terms, including the outlook for GDP growth, interest rates, energy and commodity prices, the value of the Canadian dollar, and the rate of inflation. How will the recovery materialize over the next twelve months? What impact will weak manufacturing conditions have on employment growth? What will be the key indicators that we will be able to see the light at the end of the tunnel?

Dr. Sherry Cooper, Executive Vice President, Global Economic Strategist, BMO Financial Group and Chief Economist, BMO Capital Markets

 
  INVESTMENT TRENDS AND THEIR IMPACT ON THE LEASING MARKET

What kind of leasing and investment momentum has the market across the Toronto commutershed experienced in the first three quarters of 2009? How will the dramatic adjustments in debt markets and rapidly changing vacancy levels in key cities change the emphasis on what's really important in structuring leases in the Canadian market? What are the drivers that will have the largest impact on property values?

David Bowden, President, Canada,
   Colliers International
 
  LOOKING FORWARD: WHAT ARE THE IMPLICATIONS FOR THE REAL ESTATE MARKET AND DECISION-MAKERS?

How do the various forecasts translate specifically to our industry for the next year? Where and when can we expect moods and activity levels to adjust across industrial, office and retail sectors?

Scott Addison, Executive Managing Director,
   Industrial & Investment Practice Groups,
   Colliers International

CONFERENCE FORMAT OFFERS YOU BETTER QUALITY CHOICES
THREE MAJOR THEME AREAS WITH FOUR SESSIONS EACH

The program for RealLeasing 2009 has been uniquely designed to offer the greatest possible value and flexibility to asset managers, leasing executives, corporate real estate directors, inhouse legal counsel, lawyers in private practice, commercial real estate brokers and others.

A wide range of the most significant leasing trends, issues, challenges, and strategies were identified and then grouped into three theme areas with each one offering four sessions.

You have a choice of attending all the sessions in a particular stream or selecting up to four various topics in two or more theme areas to makeup your itinerary for the day.
 

THEME A: RESPONDING TO LEASING CHALLENGES AND DEAL-MAKING IN A SOFT ECONOMY

9:25 am

A1

Negotiating Industrial Offers to Lease in a Tenants’ Market

10:50 am

A2 Where are the Downtown and Suburban Office Markets             Heading in the Next Twelve Months?
1:00 pm

A3

Key Leasing Trends and Issues in Today’s Retail Market
2:10 pm

A4

Leasing to Government and NGOs as a Tenant
THEME B: TOP OF MIND LEGAL AND BUSINESS ISSUES IN A CHANGING COMMERCIAL LEASING MARKET
9:25 am B1 Tenant Transfers: Navigating the World of Subleasing,                 Assignment and Lease Takeovers

10:50 am

B2 An Update on the Wide Range of Environmental Issues          Impacting Commercial Leasing and Building Owners
1:00 pm B3 Lease Defaults, Rights and Remedies: Key Clauses and Case  Law That You Need to Remember
2:10 pm B4 Working With Weaker Tenants or Landlords: Covenants,      Security, Financing, Rights, Bankruptcy and Insolvency
THEME C: MANAGING EFFECTIVELY THROUGH THE DOWNTURN: KEY TRENDS AND STRATEGIES FOR OWNERS AND MANAGERS
9:25 am C1 Current Trends in Workplace Productivity and Tenant Green Mandates: Implications for Landlords and Tenants

10:50 am

C2 Leasing Real Estate in a Softening Market: Blend & Extend and Other Strategies
1:00 pm C3 Repositioning Older Office Buildings: What Strategies Can You Use to Compete with New Ones?
2:10 pm C4 Mastering Lease Negotiation in Today’s Tricky Market: How to Develop Solutions, Resolve Key Issues and Close the Deal
 

 

CLOSING SESSION FOR THE CONFERENCE

NEW! MINI ROUNDTABLE DISCUSSIONS - MEET THE EXPERTS!

Take advantage of this opportunity to participate in informal discussions on the dynamics of key legal issues, market trends, and transaction activity. Tap into the minds of experts, gain insight into proven strategies, and share experiences with your peers. Participants will have the opportunity to join one of the following small discussion groups that will be held concurrently. Tables and leaders are identified at the end of this program. Please scroll to the bottom of this page to view topics

9:25 a.m. THREE CONCURRENT SESSIONS (SELECT A1, B1 OR C1)
 

SESSION A1
NEGOTIATING INDUSTRIAL OFFERS TO LEASE IN A TENANTS’ MARKET


The session will open with a brief overview of the demand side of the industrial market: logistics and warehousing vs. heavy uses. What are the trends in the current industrial leasing market? What are the top five sticking points that are emerging in industrial deals today and how are they being addressed and resolved? What type of space is becoming obsolete and what is not? How are industrial tenant requirements changing, and what recent landlord initiatives are addressing this demand? How are landlords dealing with the challenge of securing financing for single tenant buildings in this credit market environment? How have values of B and C buildings been impacted over the past year?

Moderator:
Scott Addison, Executive Managing Director,
   Industrial & Investment Practice Groups, Colliers International

Panel:

Lisa Borsook, Managing Partner, WeirFoulds LLP
Rob Lauer, Vice President, Leasing, Bentall LP
Jordan Slatt, President, LDC Logistics Development Corporation
Paul Vander Schaaf, Vice President, Asset Management,
   ING Real Estate Canada LLP
 

  SESSION B1
TENANT TRANSFERS: NAVIGATING THE WORLD OF SUBLEASING, ASSIGNMENT AND LEASE TAKEOVERS



Subleasing is increasing significantly and it is important for both tenants and landlords to understand the key issues and differences associated with these types of tenancies. What is a sublease? What are the major differences between a head lease vs. a sublease, e.g. in assignment; tenants’ rights? As a tenant, how do you work with landlords in order to get consent? How are lease takeovers being structured? What is the tenant’s perspective on subleases? The landlord’s perspective? What is the difference between lease and sublease enforcement? How do you actually terminate the lease? How can lease provisions manage sublease activity without unduly penalizing the tenant? When can the landlord’s consent be reasonably withheld? Does the landlord need a third party agreement?

Moderator:

Jane Helmstadter, Partner, Bennett Jones LLP

Panel:
Megan McGowan, Senior Vice President, Retail Leasing,
   S & H Realty Corporation
Nancy Prenevost, Vice President, Legal, Oxford Properties Group Inc.
Ana Radic, Director, Leasing, GE Real Estate Equity

 
 

SESSION C1
CURRENT TRENDS IN WORKPLACE PRODUCTIVITY AND TENANT GREEN MANDATES: IMPLICATIONS FOR LANDLORDS AND TENANTS

Tenants are strongly focused on having workplaces that are conducive for optimum productivity and help attract and retain valuable employees.

This session will explore some of the latest trends on how space planners, interior designers, architects and manufacturers are able to extract maximum value from today’s workplace. The new LEED Gold buildings are open for business and RBC and TELUS are moving into state-of-the-art premises. How do these new buildings provide a better workplace advantage and how have their space designs changed as a result? What are the implications of these approaches ultimately on the space requirements of organizations? How are they affecting tenant construction requirements? What are other issues and priorities for corporations as they strive for work environments that offer higher productivity? Corporate tenants are still very strongly focused on green workspace and buildings, but in most cases want to know what can be done without impacting their rent levels. Among smaller tenants, a greener building is not as important as what is the amount of their gross rent and how much flexibility is the landlord able to offer. What are some examples of greener workplaces that did not result in higher gross rents?

Moderator:
Doug Hitchcox, Vice President, Office Leasing Division,
     Sustainability Practice Group, Cushman & Wakefield Ltd.

Panel:
Barry Brennand
, Director,  Workplace Solutions,
   Steelcase Canada Limited
Caroline
Hughes, Strategic, Partner, figure3
Dermot Sweeny, Principal,
   Sweeny Sterling Finlayson &Co Architects Inc.

Daryl Watts, Global Director, Leasing, RBC Financial

 

10:25 a.m.  MORNING REFRESHMENTS
10:50 a.m. THREE CONCURRENT SESSIONS (SELECT A2, B2 OR C2)
 

SESSION A2
WHERE ARE THE DOWNTOWN AND SUBURBAN OFFICE MARKETS HEADING IN THE NEXT TWELVE MONTHS?




How is the office market performing across the eight submarkets that comprise the 416 and 905 regions? What are the key trends in each of these target areas? Is there much of a disconnect between tenants and landlords in this market? Where are prevailing rents at this time and where are they anticipated to be heading over the next twelve months? How is demand being affected by the approximately 2.5 million sq.ft. coming on stream in 2011? How will older buildings compete with new ones? Where is the velocity in today’s office market? Will there be a catch-up at some point due to the current softness? What will be the strategies to fill any large spaces? How are Class B and C buildings faring in comparison to higher quality buildings? How do landlords address the challenge of dealing with a tenant who is only in the market once every five or ten years? What business incentives are available from the City of Toronto, Mississauga and other municipalities to assist landlords in attracting tenants to buildings in these communities? Do they make a difference in deal flow?

Moderator:
Sandy McNair, President, Altus InSite

Panel:
John Knechtel, Senior Director, Leasing,
   The Cadillac Fairview Corporation Limited
Paul
Morse, Senior Managing Director & National Practice Director,
     Office Leasing, Cushman & Wakefield Ltd.
Scott Moyes, Vice President, Office Leasing, Orlando Corporation
John Peets, Vice President, Office Leasing, Oxford Properties Group Inc.

 

 

SESSION B2
AN UPDATE ON THE WIDE RANGE OF ENVIRONMENTAL ISSUES IMPACTING COMMERCIAL LEASING AND BUILDING OWNERS

Environmental issues have increasingly emerged as extremely important and critical issues that can affect a lease negotiation, the structure and wording of leases, and the rights and responsibilities of tenants and landlords going forward. This session will update you on current and emerging regulations and issues, and how owners and tenants need to deal with these items within the leasing process. Discussion will focus on a range of items including: submetering, LEED CI, Ontario Energy Board, Green Energy Act initiatives and other issues related to energy efficient and greener buildings; asbestos abatement, toxic mould, potential pandemics and other health and environmental risk issues; the environmental impacts of tenants leaving a building. What other new environmental issues should be addressed in today’s leases? What kind of environmental insurance and strategies can owners and tenants use? How should insurance clauses be drafted to cover off these risks? How can landlords and tenants protect themselves from future regulatory change once a lease is executed?

Moderator:
Marc McAree, Partner,
   Certified Environmental Law Specialist,
   Willms & Shier Environmental Lawyers LLP

Panel:
Aaron Atcheson, Partner, Miller Thomson LLP
Sharon Ferrari, Risk Specialist, Scott’s REIT
Vico Paloschi, Vice President, Environmental Due Diligence &
     Remediation, Pinchin Environmental Ltd.
Carl Spensieri, Environmental Underwriter, XL Insurance Company Limited

 

 

SESSION C2
LEASING REAL ESTATE IN A SOFTENING MARKET: BLEND & EXTEND AND OTHER STRATEGIES


As vacancy rates in office, industrial and retail markets increase, what leasing strategies and hurdle rates are landlords considering in these market conditions? How are they marketing their vacant and soon-to-be vacant space? Are landlords keen to “extend and blend” and to renew tenant leases for as long as possible while tenants are seeking much shorter terms? What impact does this strategy have on net asset value? How do you get a deal done in this market? Do short term leases save money or do they not? Are there any particular creative ways to complete a successful transaction? What are the typical discussion points that should be easily resolvable in lease negotiation and what are the arguments used to reach the middle ground? How long should it take to finalize a deal? What are the practices and expectations of U.S. organizations in doing deals for their Canadian operations? When the differences are very significant between their approach and Canadian practices, how do you resolve these issues?

Moderator:
Craig Tresham, Principal & Senior Vice President,
     Avison Young Commercial Real Estate

Panel:
Catherine McKenna, Vice President, National Retail Leasing,
     Arcturus Realty Corporation
Nick Stryland, Director, Leasing, Orlando Corporation
Glenn Way, Vice President, Asset Management,
     GWL Realty Advisors Inc.
David Wood, Vice President, Asset Management & Leasing,
     Brookfield Properties Corporation


 

11:50 a.m. INFORMAL LUNCHEON LUNCHEON REFRESHMENTS


 





 

1:00 p.m. THREE CONCURRENT SESSIONS (SELECT A3, B3 OR C3)
 
 

SESSION A3
KEY LEASING TRENDS AND ISSUES IN TODAY’S RETAIL MARKET


This session will focus on some of the major trends and issues in the current retail real estate leasing from both the landlords’ and the tenants’ perspectives. The discussion will open with a brief examination of consumer spending trends in this economy. What impact is consolidation in both the landlord as well as the tenant sector having on retail leasing? Given the blurring of retail lines between food and drugs, how are some landlords responding to this trend, e.g. wrestling with exclusive use clauses? Co-tenancy is becoming an increasing issue in retail. What are some of the special rights that tenants could bargain for with co-tenancy? Retail is also creeping into other uses. What the implications for leasing and the leases under these circumstances? Specialty leasing is also growing e.g. sign revenue, locker revenue. What are the implications of this trend?

Moderator:
John Crombie, Senior Managing Director, Toronto Suburban Operations
     & National Retail Director, Cushman & Wakefield Ltd.

Panel:
Mervyn Allen, Legal Counsel, Metro Ontario Inc.
Jeri Brodie, Partner,
   Orange National Retail Group Inc.
Glenn Featherstone, Vice President,
   Retail Leasing, Morguard Investments Limited
William Rowlands, Partner, Lang Michener LLP

 

 

SESSION B3
LANDLORD & TENANT RIGHTS AND OTHER LEASING ISSUES THAT YOU NEED TO BE AWARE OF IN TODAY’S MARKET


With the downturn in the economy, the focus has shifted for lawyers and owners to more defense rather than offense. This panel will discuss the key differences and latest practices in rights of expansion, rights of contraction, early termination, rights of first refusal, rights of first offer, co-tenancy clauses, exclusives, renewal options and other real estate leasing tools. What are tenants asking for and why in today’s market? Are landlords ready to give away any special rights in today’s market? What are some sources of common conflict between a landlord and a tenant over special rights and how can they be avoided through the drafting process? How do you ensure that special rights are easy to administer? Both landlords and tenants are trying to build flexibility, and control, into their leasing arrangements. How can competing interests co-exist? How are litigators contending with these clauses where defaults occur? Where does the law of waiver fit in? Learn how these issues are addressed from the perspective of a landlord, a tenant and a litigator in today’s market conditions. Some recent commercial leasing cases on point, and their implications, will be examined.

Moderator:
Natalie Vukovich, Partner, Daoust Vukovich LLP

Panel:
Sharon Addison, Partner, McLean & Kerr LLP
Kenneth Beallor, Counsel, Fraser Milner Casgrain LLP
Kelly Wawrychuk, Regional Director, Lease Documentation, Bentall LP
Ellen Williamson, Assistant General Counsel,
     The Cadillac Fairview Corporation Limited


 

 

SESSION C3
REPOSITIONING OLDER OFFICE BUILDINGS: WHAT STRATEGIES CAN YOU USE TO COMPETE WITH NEW ONES?


Most new developments in today’s market are being designed with LEED certification or some high performance metric in mind. However, new construction only represents about 1% of the building stock. What are the options for the remaining 99% of buildings with respect to enhancing their energy and environmental performance in general? What steps can owners of existing buildings take to improve the operational efficiencies of their properties and to ensure that their space remains competitive in the market? This session will examine specific asset management, marketing, and capital strategies that you can take to achieve these goals and objectives that can lead to ongoing improvements in your energy, water, and waste efficiency, and your building’s overall environmental management and performance. How do you involve your existing tenants in developing your strategy, getting their input and their buy-in? What are tenants’ expectations in this market with respect to workplace environments in older buildings? What costs are considered to be capital expenditures and which ones fall under operating costs? What are the rights of landlords and tenants in retrofitting or doing major renovations to an existing building? From the other perspective in an older building, what are some of the major issues associated with tenant build-outs and renovations?

Moderator:
Craig Smith, President,
   Ashlar Urban Realty Inc.

Panel:
Wayne Jacobs, Executive Vice President, Allied Properties REIT
Keith Major, Senior Vice President, Property Management, Bentall LP
Les Miller, COO, Crown Property Management Inc.
Chris
Tambakis, CEO, North America,
     Adgar Investments & Development Inc.


 

2:10 p.m. THREE CONCURRENT SESSIONS (SELECT A4, B4 OR C4)
 
 

SESSION A4
LEASING TO GOVERNMENT AS A TENANT

What are the more significant requirement and priorities in leasing with governments as compared with private sector practices? In light of the strength of their covenants in this market, what are public sector tenants demanding in the marketplace and how can landlords respond? What is the best way for owners to market space to this sector? What do landlords need to understand about governments evolving requirements and priorities and how to respond to them?

What are some of the most significant negotiating issues that landlords should anticipate public sector tenants to raise?

How does deal flow work in these types of transactions?

Moderator:
Sheldon Disenhouse, Partner, Fraser Milner Casgrain LLP

Panel:

Maureen Flanigan, Vice President, Asset Management,
     GWL Realty Advisors Inc.
Hubert Labelle, Senior Vice President, Portfolio Management,
   Ontario Realty Corporation
Tom
Muha, Vice President, Smith Company Real Estate Services Inc.


 

  SESSION B4
WORKING WITH WEAKER TENANTS OR LANDLORDS: COVENANTS, SECURITY, FINANCING, RIGHTS, BANKRUPTCY AND INSOLVENCY




The first part of this session will examine some of the latest thinking on assessing tenant credit worthiness and obtaining additional security for tenant promises. What are the latest rules on guarantee, indemnities, letters of credit, deposits, and other forms of tenant covenants? How is covenant risk being re-assessed? How do you work with tenants without waiving all of your rights? How do you secure tenant allowances? What happens when the tenant goes bankrupt or seeks protection of insolvency laws? The second part of the session will focus on the tenant and how they can protect their interest opposite weakened landlords, ensure security of tenure, protection and remedies against landlord default, and have appropriate exit strategies.

Moderator:
Stephen Posen, Senior Partner & Chair, Commercial Leasing Group,
   Minden Gross LLP

Panel:
Joseph Grignano, Partner, Blake, Cassels & Graydon LLP
Todd Martin, Partner and Head of Restructuring, Americas, KPMG LLP
Fred Santini, Senior Legal Counsel, Ivanhoe Cambridge

 
  SESSION C4
MASTERING LEASE NEGOTIATION IN TODAY’S TRICKY MARKET: HOW TO DEVELOP SOLUTIONS, RESOLVE KEY ISSUES AND CLOSE THE DEAL

New issues and new sticking points are arising in today’s recessionary market. Tenants may be extremely cost conscious and focused on lease flexibility more than ever. Landlords still seek to maximize rents and occupancy. But must one be traded off against the other in this market? Will we see a trading up of tenants into space they are not naturally suited for over the longer term? This session will examine some strategies and techniques that landlords, tenants, lawyers and brokers should consider using in negotiating a lease in a developing tenant driven market. What sections of the lease are open for more intense negotiation? How should step downs be managed? Will owners behave differently when building vacancies are rising? What are the typical discussion points that will be difficult, and what are the issues that should be easily resolvable. In today’s lease negotiations, where is the middle ground?

Moderator:
Steve Messinger, Senior Partner, Minden Gross LLP

Panel:
John Arnoldi, Managing Director, Toronto Region, Colliers International
Michael Bardyn, Assistant Vice President, Leasing,
   Real Estate Division, Manulife Financial
Andy Robins, Vice President, National Retail Leasing & Development,
     CREIT Management LP
Deborah Watkins, Partner, Daoust Vukovich LLP


 

3:10 pm

AFTERNOON REFRESHMENTS

3:15 pm
to
4:15 pm

NEW! MINI ROUNDTABLE DISCUSSIONS - MEET THE EXPERTS!



Take advantage of this opportunity to participate in informal discussions on the dynamics of key legal issues, market trends, and transaction activity. Tap into the minds of experts, gain insight into proven strategies, and share experiences with your peers. Participants will have the opportunity to join two of the following small discussion groups that will be held concurrently.
Round one will be from 3:15 pm to 3:40 pm and round two will be from 3:50 pm to 4:15 pm.
 
  2. Managing Leasehold Improvements and Construction Costs in Today’s Market

     Jon Taylor, Co-Owner & Director, GovanBrown Construction Managers

3. The Continuing Debate over Operating Costs

     David Motley, Vice President, Lease Administration,
     GWL Realty Advisors Inc.


4. Commercial Tenancies Act: Rights and Remedies

     Wolfgang
Kaufmann, Partner, Daoust Vukovich LLP


5. What are Good Practices after Signing the Deal?

     David Thompson, Partner, WeirFoulds LLP

6. Exit Strategies for Tenants and Landlords in this Market

     Robert Armstrong, Managing Director, Toronto Leasing Group,
     Avison Young Commercial Real Estate


7. ROFR, ROFO and Other Similar Tenant Rights

     Bruce McKenna, Partner, Lang Michener LLP
     Matthew German, Associate, Lang Michener LLP


8. Green Leases: The Critical Differences From Conventional Leases

     Lloyd Cornett, Partner, Aird & Berlis LLP

9. Five Lease Clauses That Do Not Get Much Respect

     Angela Mockford, Partner, WeirFoulds LLP

10. The Upcoming Implications of the HST on Building Owners and Tenants

     Louise Summerhill, Partner, Aird & Berlis LLP

11. Insurance: What Landlords and Tenants Must Know and Do

     Dawn Michaeloff, Partner, Daoust Vukovich LLP

13. What You Need to Understand About Specialty Retail Leasing

     Suzanne Cayley, Vice President, Specialty Leasing and National
     Partnerships, Ivanhoe Cambridge


14. Bankruptcy: What a Landlord or Tenant Must Know and Understand

     Pamela Huff, Partner, Blake, Cassels & Graydon LLP

16. Relocating Tenants: Office and Retail

     Harvey Haber, Q.C., Senior Partner,
     Goldman Sloan Nash & Haber LLP

     Howard Sloan, Partner, Goldman Sloan Nash & Haber LLP 

 
4:15 pm ADJOURNMENT
Produced by MMPI Canada