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Introduction of the Conference Chair:
Caroline Abougoush, President-Elect, CREW Calgary
Randy Ferguson, Chief Operating Officer, Strategic Group
The dramatic fall in crude oil prices in December 2014 and the continued fallout has created a great deal of anxiety and change in Calgary’s market. This presentation will provide an analysis of the current situation and for the coming 24 months.
Jeff Cormack, Director, Canadian Energy Investment Banking, RBC Capital Markets
Canada has the opportunity to become this century’s supplier of choice for the world energy needs from oil and gas. But around the globe, the oil and gas industry is undergoing tremendous disruption. Hear from Jeff Gaulin as he discusses why Canada must invest more into energy infrastructure and innovation if it is going to compete and supply the world with more reliable, responsible energy.
Jeff Gaulin, VP, Communications, Canadian Association of Petroleum Producers
It’s no secret that the office market in Calgary has been hit hard. The volatility is evident, with nearly one third of downtown office space sitting vacant. With this rise in vacancy rates, what can landlords do to reposition their properties and update their office space environment? What alternative uses of these vacant buildings exist in the downtown core? Is the answer to repurpose the B&C class assets? Is there a true migration to quality, or are tenants looking at cost conservation? How can expectations be managed both for the ownership and client base? How is new business being driven into Calgary based on the current vacancy rate? This panel will examine these questions and more along with the asset management and leasing strategies that are necessary to succeeded in the current market conditions.
Adam Hayes, Principal, Broker, CRESA
Andrew Harrison, Director, Leasing, Dream Office Management Corp.
Michael Molyneux, Vice President, Asset Management, Slate Asset Management
Lori Suba, Associate Vice President, CBRE Limited
Rick Urbanczyk, Senior Vice President, SIOR, JLL
It’s no question that the price of oil has had a big impact on Calgary’s economy. This session will discuss ways in which to manage potential tenant bankruptcy and insolvency, dealing with a receiver, and recent case law that addresses these issues. What are the latest concerns in tenant default remedies? Does the landlord have the right to cancel the lease? Does the tenant? Can the revenue from the lease be recouped? This session will take an in-depth look at what bankruptcy means for the tenant and for the landlord, and will discuss best practices in a distressed market.
Greg Liakopolous, Partner, Bennett Jones LLP
Adam Maerov, Partner, Corporate Restructuring, McMillan LLP
Kendra Pinder, Principal, CRESA
Alexis Teasdale, Partner, Bennett Jones LLP
Earlier this year, The City of Calgary introduced a 5% cap on property tax hike for thousands of businesses that will be in effect for one year. This session will look at the new property tax cap, and its trickledown effect on landlords and tenants. What does this mean for the downtown core and the suburbs? How does this cap tie into leasing in the downtown core and rental rates? Specifically, how are these property tax changes passed along from the landlord to the tenant? What is the expected impact on assessed values, and how will this tax break be managed over time? With the MGA and the introduction of a potential charter, what is the potential impact on tax? What is the implication on oil and gas users’ bottom line tenants? What can be expected for the next 3-5 years?
Kyle Fletcher, Executive Vice President, Prairie Region, Altus Group
Greg Greekas, Senior Director, Portfolio Analysis, Strategic Group
Dave Mewha, Senior Director, Altus Group
Brock Ryan, Director of Income & Complex Properties, AEC Property Tax
Relatively sheltered by distribution in the Calgary region, the industrial sector has been less impacted by the downturn in the market. What impact does the logistics industry have on the industrial market in Calgary? This session will examine issues facing the industrial sector as construction begins to steadily slow, and vacancy begins to decline.
How will the logistics industry manage the increase of online shopping? Are industrial buildings being designed and built with consideration of future technologies in mind? What services is the city able or willing to deliver, and what strategies are in place for Calgary’s industrial land? When looking to lease industrial buildings, what factors are important to a landlord when making decisions? What do companies like CN Rail do for their tenants in the suburbs? How are they shifting their footprint?
Ryan Haney, Senior Vice President, Industrial, JLL
Jorden Dawson, Director of Industrial Development, Beedie Industrial
Paul Derksen, Industrial, Prairie Region, QuadReal Property Group
Josh Magnussen, Associate, Industrial Sales & Leasing, Colliers International
As vacancy rates continue to rise especially in the office market, there is an underlying opportunity for landlords to reposition their properties and update their space environments. How can landlords seamlessly convert their space without comprising their infrastructure? How does future proofing come into play? Does there need to be greater flexibility in the building code? If conversions are not implemented, what will happen with the ageing inventory? For those that have already repositioned, what response have they had from tenants?
Jyoti Gondek, Director, Westman Centre for Real Estate Studies, Haskayne School of Business
Rob Blackwell, Senior Vice President, Investments & Asset Management, Aspen Properties
Amie Blanchette, Manager, Partnership Services, City of Calgary
Deana Haley, Vice President, Business Development & Workforce Innovation, Calgary Economic Development
James Stauch, Director of the Institute for Community Prosperity, Mount Royal University
Subleasing and assignment is increasingly common, especially in a challenging market. It’s important for both tenants and landlords to understand the key issues and differences with these types of tenancies. What is a sublease? What are the major differences between an assignment of a lease and a sublease? How should tenants work with landlords to get consent? How are lease takeovers being structured? How can a lease be terminated? What are the tenant’s and landlord’s perspective on subleases and assignments? What is the difference between lease and sublease enforcement? When can the landlord’s consent be reasonably withheld?
David J. Fenrich
Shannon Potter, Director, Leasing, Morguard
David J. Fenrich, Senior Director, Legal Services, Cadillac Fairview
Travis Makoloski, Senior Leasing Manager, First Capital Realty
Colin Norris, Asset Manager, Brookfield Office Properties
During the economic downturn of the past two years diversification of the economy has been a hot topic. While diversification has always been a part of the conversation it has now moved to the dominant point of conversation. For Calgary Economic Development diversification is about building on our strengths – sectors of strength, the strengths of our people and key linkages to global trends including the industrial internet of things. Court will speak briefly to these trends, their work and how that translates into reimagining vacant office space.
Court Ellingson, Vice President, Research & Strategy, Calgary Economic Development
With news coming of Warren Buffet’s departure from Walmart, the question remains: is bricks and mortar done? Between the demand for e-commerce, and increasing labour costs, tenants are now looking to find small format stores to contend with the ever-changing environment. Is there a middle ground? What is the next evolution of anchor tenants in malls and new developments? What trends are emerging for new developments, and what are tenants demanding? Are tenants being more selective? Is the next evolution mixed-use development? How does transit oriented development and the “walking friendly” initiative come into play?
Colin Peter, Assistant Vice President, Retail Leasing, Western Canada, RioCan REIT
Chris Connor, Account Executive, Orange National Retail Group (Prairies) Inc.
Cam Inglis, President, Marble Slab Creamery
Eve Renaud, Vice President, Rencor Developments Inc.
Jeff Robson, JR Mercantile Real Estate Advisors Inc.
A fast-paced session that will cover an assortment of “odds and sods” that people often experience in the leasing process and do not always fully understand. Each issue will be addressed by a legal expert, with an opportunity for delegates to ask questions and gain clarification.
Michael Bolitho, Partner, Norton Rose Fulbright
Craig Harkness, Counsel, McMillan LLP
Kevin Keyes, Partner, BLG LLP
Tenant desires and requirements have been changing and evolving, and it’s evident that the leasing market has undergone transformative changes over the past decade. In today’s environment, how are construction, mechanical and electrical costs impacting tenants leasing decisions? How do demographics impact tenant’s decisions to lease a particular space? What is driving tenant leasing decisions in the market today and how are the changes in the market affecting leasing and building requirements?
Geoff Christie, Senior Director, Office Leasing, CREIT
Ken Dixon, Senior Vice President, Property Management, Strategic Group
Aly Lalani, Senior Vice President, Partner, Colliers International
Damien Mills, EVP, Managing Director, Canadian Brokerage, JLL
Jerilyn Wright, Owner, Jerilyn Wright & Associates Interior Design Consultants Ltd.
After a full day of sessions and great discussion, this closing panel will provide an overview of market segments and industries that are stimulating 100s of millions of dollars in capital spending over the short term. Projects such as the Calgary Airport Expansion, CalgaryNEXT, East Village, LRT expansion, pilot new ways to stimulate occupancy in the Core, will create jobs, contribute to office occupancy, produce new retail and hospitality opportunities and further the ambitions of a growing inter-modal sector. Get the points of view of some of Calgary’s thought leaders who are on the forefront of creating a better Calgary for generations to come.
Randy Ferguson, Chief Operating Officer, Strategic Group
Michael Brown, President & CEO, Calgary Municipal Land Corporation
Jason Hardy, President & Managing Partner, Chatterson Drive Inc.
Marco Mejia, Vice President, Planning & Engineering, Calgary Airport Authority
Evan Woolley, Councillor, Ward 8, The City of Calgary