Introduction:
Scott Addison, President, Brokerage Services Canada, Colliers International
An insightful examination of key trends in the Canadian and global economy with a specific view towards the future direction over the short and medium terms, including the outlook for GDP growth and interest rates. Are continued geopolitical issues (U.S. Election, Brexit etc.) proving to be a speed hump or a blip? Where will we see employment growth? What about Canada’s embattled energy sector – has it turned the corner?
Andrew Grantham, Senior Economist, CIBC World Markets Inc.
Scott Chandler
Scott Chandler, Senior Vice President, Advisory & Investment Sales, Colliers International
Conference Chair:
Giselle Gagnon, Senior Vice President, Strategic Resources Group, Bentall Kennedy (Canada) LP
Four major theme areas with four sessions each. The program for Real Estate Strategy & Leasing Conference has been designed to offer the greatest possible value and flexibility to asset managers, leasing executives, corporate real estate directors, in-house 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 four theme areas with each one offering four sessions.
You have a choice of attending all the sessions of a particular theme or selecting up to four various topics in two or more theme areas to make up your itinerary for the day.
THEME A
Asset Class Leasing &Market Overviews
THEME B
Legal Perspectives& Strategies
THEME C
Asset Management& Strategy
THEME D
Innovations &Negotiation Trends
9:25 a.m. – Session A1
9:25 a.m. – Session B1
9:25 a.m. – Session C1
9:25 a.m. – Session D1
The Downtown Office Market: A Review of Development and Market Fundamentals of the Coreand the Effects of Suburban and Tertiary Markets
The Target Fall-Out: What New Lessons Have We Learned Along the Way?
Repositioning Existing Assets: Case Studies and Discussions Around Neighbourhoods and Key Assets
New Technologies Across the Spectrum That Can Help Drive Your Business Forward and ProvideCompetition to the Landscape
10:50 a.m. – Session A2
10:50 a.m. – Session B2
10:50 a.m. – Session C2
10:50 a.m. – Session D2
Suburban and Downtown Periphery Market Leasing: The Intersection Between Talent and Space
Lease Impacts on NAV: How to Structure Your Leases for an Asset Sale or Refinancing
Pressure to Place Capital and Value Creation Funds in Today’s Market
The Anatomy of a 100,000 SF Lease Deal: A 101 Overview from Plan to Execution
1:30 p.m. – Session A3
1:30 p.m. – Session B3
1:30 p.m. – Session C3
1:30 p.m. – Session D3
The Evolution of the Industrial Market: From Uber Delivery to Innovative Delivery Systems
Tenant and Landlord Rights and Remedies: From Drafting the Lease to Post Occupancy Issues
Leasing in a Down Markets: Strategies for Challenged Nodes
Who are Today’s Tenants and What are Their Criteria in Leasing Decisions?
2:40 p.m. – Session A4
2:40 p.m. – Session B4
2:40 p.m. – Session C4
2:40 p.m. – Session D4
Rapid Legal Roundtable:Implications of Development Activity on Existing Assets Including Demolition and NoBuild Clauses
Interaction Between AssetManagement and Leasing:What Does Each Party Need to Understand?
Negotiation Strategies for Today’s Market: How to Understand the Deal, Resolve Key Issues andClose the Transaction
What are the key leasing trends regarding core downtown office space? How is the “brick and beam” market doing vs. the older legacy towers? What are prevailing rents and where are they heading? The flight to quality, the trickle up theory and the issue of suburban tenants moving downtown -are these short term characteristics? What is creating demand for new space particularly if many larger corporations are re-evaluating their real estate footprints with the intention of reducing them? What are Class B and C buildings doing to remain competitive with new space and avoid higher vacancies? This session will also look at the development pipeline and implications that new buildings create.
Moderator:
Sandy McNair, Data Curator, Altus Data Solutions
Panel:
Brett Elofson, Senior Vice President, JLL
Gordon Oughton, Director, Leasing, Central & Western Canada, Allied Properties REIT
John Peets, Vice President, Leasing, Oxford Properties Group Inc.
Gordon Wadley, Vice President, Leasing, Dream Office REIT
The Canadian retail landscape proves over and over again to be highly competitive. A casualty of this strong ongoing competition was the 2015 closure of Target following it’s brief entry into Canada. If landlords had to do the leases all over again, what would they do differently – if anything? What are the key takeaways and how can landlords protect themselves in the future? New lessons continue to come to light in the aftermath of the closure. What are the latest realizations we have seen due to this unlikely outcome?
Moderator:
Natalie Vukovich, Partner, Daoust Vukovich LLP
Conversations around key assets and neighbourhoods regarding revitalization are paramount in asset management discourse as of late. What underlying forces are re-shaping older assets and creating creative leasing opportunities? This panel will showcase best practices in fostering growth and providing new life to established communities and assets. It has been noted that in order to revitalize older properties, improve lease rates, tenant satisfaction and overall wellness, owners and managers need to regionalize, repurpose or restructure. This panel will explore all the above and share insights into this important area of value creation.
Moderator:
John Arnoldi, Executive Managing Director, Eastern Canada, Colliers International
Panel:
John Ballantyne, Senior Vice President, Asset Management, RioCan REIT
Lucas Manuel, Managing Director, Slate Asset Management
Theresa Warnaar, Vice President, Retail, KingSett Capital
Interested in hearing about new ideas and products coming to market over the near, medium and long term? How will break-through technologies change the face of the marketplace today? What are key advancements that could provide optimization, efficiencies and even revolutionary changes within your organization and assets? Come and find out what innovations are at the forefront of our industry from those on the front line as they share what they see as major technology trends, risks, opportunities, and challenges in real estate today.
Moderator:
Michael Scace, Partner, Ashlar Urban Realty Inc.
Panel:
Peter Altobelli, Vice President & General Manager, Yardi Canada Ltd.
Maggie Burns, Vice President, Real Estate, Breather
Nick Romito, Chief Executive Officer & Founder, VTS
Brandon Weber, Founder & CEO, Hightower Inc.
Given the volume of new residential and office development across the region, there is considerable speculation on where tenants are headed. How much migration to and from the suburbs is there and why? Are we facing a growing unbalanced and highly segmented market, where an increasing number of 905 office buildings will face leasing challenges or vice versa? From purpose-built office projects to mixed-use developments across the 905 – how much new space is coming onto the market?? In terms of suburban leasing activity, is the West still best or does Vaughan, Markham and other nodes have compelling benefits that are attracting tenants? What is the tenant profile s in suburban markets?
Moderator:
Matt Stesco, Vice President, Office Leasing, Cushman & Wakefield
How to avoid leaving money on the table in a sale or refinancing is always an important issue to address. To what extent can you structure your leases to maximize value on an exit? Everyone has the same goal – to get the deal done, but what are the hidden clauses that will make an impact on value?
Moderator:
Jaysen Smalley, Senior Vice President, Investment Properties, CBRE Limited
Panel:
Joseph Grignano, Partner, Blake, Cassels & Graydon LLP
Alexandra Khazzam, Director, Investments, Dream Asset Management
Greg Spafford, Managing Director, LaSalle Investment Management
With a number of active value funds or new ones coming to the market over the near term, how are they really defined? What does value creation mean to each fund and what role does leasing play in the overall equation? With a race to acquire and place capital how do you drive value in such a highly competitive landscape? This panel will explore the opportunities that are available and strategies that allow those leading the way to get creative and find hidden value!
Moderator:
Richard Chilcott, Principal, Avison Young
Panel:
Sam Barbieri, Senior Vice President, Asset Management, LaSalle Investment Management
Office space rental is often the second cost to a company next to HR but not all office leases are created equal? What are the differences you need to be aware of regarding mega leases? For leases 100,000 SF and above, are there special considerations to be aware of? What changes occur when you reach above a certain SF?
Moderator:
Jane Helmstadter, Partner, Bennett Jones LLP
Panel:
Sheldon Disenhouse, Partner, Dentons Canada LLP
Charlie Musgrave, Senior Director, Leasing, Ivanhoé Cambridge
Joel Pearlman, Senior Vice President, Investments, Menkes Development Ltd.
Nancy Prenevost, Vice President, Legal, Oxford Properties Group Inc.
Michael Rende, Director, Leasing, Corporate Real Estate, RBC Financial Group
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. You will have an opportunity to be part of one of the following small discussion groups that will be held as an extension of the luncheon. Discussion topics will include:
1. Downtown Office Market and New Developments
Sandy McNair, Data Curator, Altus Data Solutions
Fraser McKay, Partner & Sales Representative, Ashlar Urban Realty Inc.
2. Suburban Office Market Across the 905
Scott Watson, Partner, Leasing & Marketing, Crown Realty Partners
3. Industrial Leasing Market in the GTA
Hanan Goldfarb, Managing Director, Vanguard Realty Brokerage Corporation
4. Retail Leasing Market Trends in the GTA
Vanessa Oliver, Principal, Regent Street Commercial Corp. Real Estate Brokerage
5. Urban Retail Formats: Trends in Downtown Toronto
Avi Behar, Chief Executive Officer, The Behar Group Realty Inc.
Bryce Dymond, Principal, Northwest Atlantic (Canada) Inc. Brokerage
6. Role of Technology and Social Media in Marketing and Leasing
Brandon Weber, Founder & CEO, Hightower Inc.
7. The Continuing Debate Over Operating Costs
Antoinette Tummillo, Executive Vice President, Canada, Real Estate Management Services, Colliers International
Mark Goldberg, Founder, Highbury Asset Management
8. Landlord & Tenant Rights During Building Renovations/Demolitions
Brian Parker, Associate, Daoust Vukovich LLP
Deborah Watkins, Partner, Daoust Vukovich LLP
9. Five Lease Clauses That Do Not Get Enough Respect
Michael Gilburt, Associate, Blaney McMurtry LLP
Sonja Homenuck, Partner, Dentons Canada LLP
10. The Challenges of Leasing in Mixed-Use Developments
Karsten Lee, Partner, WeirFoulds LLP
Laurie Sanderson, Partner, Gowling WLG
Heather White, Director, Real Estate Administration, Minto Commercial Properties
Fifteen years can be life changing. According to McKinsey & Company, in 2000 only 12% of the world’s population owned a mobile phone – that now stands at 60%. Facebook, currently with some 1.5 billion users, hadn’t even launched 16 years ago. These rapid changes to the world economy are no ordinary disrupters. Logistic and retail markets are at the forefront of these changes. The way we consume is changing before our eyes! It appears that after lagging behind other sectors, logistic companies are advancing towards their tipping point. This panel will provide an overview on the Canadian logistics market and commentary on what we can expect to see over the next few years.
Moderator:
Hanan Goldfarb, Managing Director, Vanguard Realty Brokerage Corporation
Panel:
Rene Circ, Director, Research, Industrial, CoStar Group
Noah Gordon, Director, Portfolio Management, Menkes Development Ltd.
Chris Holtved, Senior Portfolio Manager, Real Estate, HOOPP
Jonathan Rovira, Director, Leasing, Eastern Canada, Pure Industrial Real Estate Trust
Rights and remedies are an established common element of commercial real estate leases that are at times contentious issues for landlords and tenants. This panel will examine a range of issues beginning with common default scenarios. What are the reactions of the respective parties? What makes sense? How are litigators contending to be key clauses related to defaults? What are some sources of common conflict between landlords and tenants over special rights and how can they be avoided through the drafting process?
Moderator:
Stephen Posen, Partner, Minden Gross LLP
Panel:
Sharon Addison, Partner, McLean & Kerr LLP
John Brunt, Partner, Blaney McMurtry LLP
Brennan Carroll, Partner, Borden Ladner Gervais LLP
Not all markets are created equal. Challenged nodes pose specific hurdles for owners, brokers and asset managers alike. How do you mitigate risk in a down leasing market and maximize future potential? Short of having a crystal ball what is the strategy owners and asset managers are using on a case by case situation to understand changing dynamics and make the most out of a challenging situation?
Moderator:
Susan Rosen, Partner, Gowling WLG
Panel:
Peter McFarlane, Senior Asset Manager, Fiera Properties Limited
Mark Goldberg, Founder, Highbury Asset Management
Scott Watson, Partner, Leasing & Marketing, Crown Realty Partners
Monty Warsh, Partner, Aird & Berlis LLP
The leasing market has gone through a formative change in theory over the past decade. Ten years ago companies like WeWork, IQ Suites, Breather were unknowns waiting to be created. “Hoteling” and “open concept” were not yet buzz words. Now there are many options for shared work space environments. Tenant requirements and desires have also been evolving with considerations such as the Well Building Standard, and Brick and Beam designs in Class A towers. What is driving tenant leasing decisions in the market today and how are the changes in the market affecting leasing and building requirements?
Moderator:
Nicole St-Louis, Partner, Borden Ladner Gervais LLP
Panel:
Debbie Baxter, Vice President, Deloitte Real Estate
There is no doubt that the retail market has been impacted from big box to luxury and everywhere in between. No sector within retail has remained untouched. UberEats is changing the restaurant culture, online and ecommerce shopping is changing space requirements and Ikea urban delivery hubs are creating new requirements. But it is not all bad news. From Nespresso experience café’s to showrooms rather than stores, retailers are play catch-up quickly. This session will examine the retail market from top to bottom and look at how the leasing environment is quickly changing to adjust to a new reality.
Moderator:
Dennis Daoust, Partner, Daoust Vukovich LLP
Panel:
Dianne Lemm, Principal & Partner, Mall Services, Northwest Atlantic (Canada) Inc. Brokerage
Madeleine Nicholls, Vice President, Retail, Dream Office REIT
Vanessa Oliver, Principal, Regent Street Commercial Corp. Real Estate Brokerage
Jeff Ross, Senior Vice President, Leasing & Tenant Coordination, RioCan REIT
Tom Smith, Senior Vice President, Development & Leasing, Enclosed Malls, SmartCentres
This will be a fast-paced session focussing on redevelopment and repositioning rights as well as issues that are often experienced in the leasing process and not always fully understood. Each issue will be dissected by a legal expert in eight minutes or less. Traditional redevelopment and repositioning issues along with common leasing issues will also be addressed.
Moderator:
William Rowlands, Partner, McMillan LLP
Panel:
Lydia Pilch, Partner, Goldman Sloan Nash & Haber LLP
Laurie Sanderson, Partner, Gowling WLG
David Thompson, Partner, WeirFoulds LLP
What are the issues and sticking points when negotiating in today’s market conditions and what are the arguments used to reach an agreement internally? Everyone is playing for the same team, but there are intricacies between asset managers and internal leasing representatives that you should be aware of. What drives each other to complete a deal? What causes conflict and how are these issues resolved internally?
Moderator:
Godyne Sibay, Regional Managing Partner, Ontario, McCarthy Tétrault LLP
Panel:
Peter Costa, Vice President, Asset Management, GWL Realty Advisors Inc.
Stephen Rawlin, Senior Vice President, Asset Management, Triovest Realty Advisors Inc.
Gurd Sanghera, Vice President, Urban Properties, KingSett Capital
Karen Sweet, Former Director, Real Estate Management, Oxford Properties Group Inc.
What are some of the major issues being raised in negotiations today? What are some effective negotiations styles? How do you determine NERs in this leasing environment? What can be done to resolve these differences? Are there any creative ways to complete a successful transaction? How important is it to determine desired outcomes before negotiations begin? How long should it take to finalize a deal?
Moderator:
Stephen Messinger, Senior Partner, Minden Gross LLP
Panel:
Arjun Chowdhury, Director, Asset Management, Morguard
Sonja Homenuck, Partner, Dentons Canada LLP
Tim Hooton, Principal, Avison Young
Deborah Rogers, Senior Vice President, Legal Counsel, Brookfield Property Partners
Today’s office, retail and industrial real estate market is comprised of a diverse group of building owners and landlords – from REITs to pension funds and their advisors, from private equity funds to privately owned companies, from lifecos to private individuals and their families. As a result, the range of asset management and leasing strategies, policies, practices, and processes can be quite considerable. This roundtable discussion among senior executives will examine how leasing strategies, negotiations, and approvals can be influenced and differ among various types of owners and asset management decision-making models. The following are some of the questions that they will address:
Moderator:
Giselle Gagnon, Senior Vice President, Strategic Resources Group, Bentall Kennedy (Canada) LP
Panel:
Thomas Burns, Executive Vice President & COO, Allied Properties REIT
Jonathan Olynick, Managing Director, Leasing & Asset Management, Real Estate, Manulife Asset Management Private Markets
Stefan Teague, Executive Managing Director, GTA Market Leader, Cushman & Wakefield
Antoinette Tummillo, Executive Vice President, Canada, Real Estate Management Services, Colliers International
David Ward, Director, Portfolio Management, Morguard