CONCURRENT SESSIONS (Select C1, C2, C3 or C4)
IS THE CALGARY INDUSTRIAL REAL ESTATE MARKET A STABLE PROPERTY CLASS? IS IT PERFORMING BETTER THAN EXPECTED?
To what extent has Calgary’s industrial market proven a desirable commodity? Vacancy in 2019 Q1 was 7.6% notwithstanding the absorption of almost 2 million sq. ft. of new supply that was added to inventory. What factors are responsible for this demand? Are eCommerce and the logistics sector the key as tenants seek state-of-the-art space with greater efficiency? Forecasts have predicted some tightening market conditions and slight growth in net rent values. To what extent are new projects locating outside of the city in surrounding rural municipalities due to overall cost factors and timing of approvals? What notable developments are underway or in final planning stages?
Paul Marsden, Executive Vice President, Partner, Industrial Sales & Leasing, Colliers International
Phil Brown, Vice President, Acquisitions & Leasing, Industrial, Hopewell Development
Jeff Hyde, Senior Vice President, Development Prairies, QuadReal Property Group
Reg Johnston, Owner, RJ T&L Consulting Ltd.
Peter McFarlane, Senior Vice President, Asset Management, Fiera Real Estate
WHERE ARE VALUATIONS IN THE MAJOR PROPERTY CLASSES IN CALGARY? WHO ARE BUYERS? WHO ARE SELLERS?
This session will examine investment activity in the Calgary market, starting with a brief overview of some of the most significant transactions that have occurred over the last twelve months. What property classes appear to be favoured by investors? What are some of the challenges investors face when looking to acquire assets in this market? When it comes to Calgary, what is the perceived value of buildings that are facing low rent and high vacancy? Who has the strongest interest in the Calgary market, e.g. pension funds, lifecos, investment funds, REITs or private investors? How does the investment market in Calgary compare with other Canadian cities? Looking ahead, what can be expected of cap rates in 2020 in each property class?
Jason Cottle, Managing Director, RBC Capital Markets Real Estate Group
Michael Cornelissen, Senior Vice President, Acquisitions, LaSalle Investment Management
Rob Kumer, Chief investment Officer, KingSett Capital
Kevin Leon, President, Crestpoint Real Estate Investment Ltd.
Nick Macrae, Senior Portfolio Manager, Real Estate, HOOPP
WHAT SHORT AND LONG TERM INITIATIVES IS THE CITY OF CALGARY CREATING TO FACILITATE ESTABLISHED AREA DEVELOPMENT AND REINVESTMENT IN THIS MARKET?
The session will examine the dynamic scope of initiatives and policies that the City of Calgary is undertaking in a challenging fiscal environment to assist landlords and developers in proceeding with new projects as well as retrofitting existing buildings over the short and long term. Discussion will include Centre City Enterprise Area, pop-up or interim uses in vacant spaces, crucial work within the Established Area including potential City investment that leverages private capital, and evaluation of potential levy payments by developers to address dated infrastructure. How can these initiatives aid developers that work in established communities and facilitate continuous improvements in Calgary?
Chris Ollenberger, Managing Principal, QuantumPlace Developments Ltd.
Sarah Alexander, Manager, Growth Funding and Investment, City of Calgary
Kathy Davies Murphy, Manager, Growth & Strategic Services, City of Calgary
Vince Dods, Partner, Gibbs Gage Architects
Thom Mahler, Manager, Urban Strategy, The City of Calgary
Eileen Stan, Vice President, Development, Matco Development Corp.
THE ACCELERATED INTERSECTION BETWEEN TECHNOLOGY AND REAL ESTATE: HOW IS PROPTECH TRANSFORMING THE MARKET & HOW CAN WE BEST PREPARE?
Technology is changing the world at an unprecedented speed and the real estate industry is not exempt from this transformation. The intersection of real estate and technology is referred to as PropTech in addition to smart buildings, smart cities and other terms. It has been said that “Technology changes exponentially; organizations change logarithmically.” You need to understand it, embrace it, and bring it to your decision table at all levels of management. What are examples of technological innovations that can impact your real estate assets, your overall portfolio, your firm, and your clients? Discussion will focus on various examples of PropTech initiatives, the outcomes, challenges and risks and the impact to the local/Alberta economy. Where is technological transformation heading and how do we best prepare for it?
Jennifer Sicilia, Vice President and General Manager, RYCOM Corporation
Tim Coldwell, President, Chandos Construction
Michael Rijavec, Senior Project Manager, Capital Management/Project Management, Alberta Health Services
David Simpson, General Manager, Bow Valley Square, Oxford Properties Group