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Randy Fennessey, President, CMN Calgary Inc.
An overview discussion on office, retail and industrial leasing activity in the Calgary market will address major trends. What were some of the most significant transactions? How would you describe deal flow, velocity, and pace in today’s market? How much new space is anticipated over the next 12–18 months? What are the anticipated absorption rates? What are the profiles of the tenants that are looking for space? What are the resulting implications for leasing activity in 2009 and beyond? How much of an emphasis is there now on greener and more environmentally enhanced buildings?
Randy Fennessey, President, CMN Calgary Inc.
Angus Fraser, Senior Vice President, CB Richard Ellis Alberta Ltd.
Grant Kosowan, Director, Orange National Retail Group (Prairies) Inc.
Chris Law, Vice President/Partner, CMN Calgary Inc.
Jon Mook, Vice President/Partner, Industrial Division/Calgary Office, Colliers International
This session will provide an examination of the most common trends in leasing industrial buildings in Calgary. What are the major differences in leasing space for warehousing and logistics vs. manufacturing and other processing purposes? Have the standards for industrial leases of environmental compliance increased along with the need for exit reports? To what extent have the increasing costs of construction and the rising price of industrial land affected build-to-suit activity? What impact have these trends had on lease rates? Have industrial leases changed to any major extent over the past few years? What are your biggest challenges with tenants today?
Jon Mook, Vice President/Partner, Industrial Division, CMN Calgary Inc.
Cindy Dubray, Leasing Manager, Morguard Investments Ltd.
Chris Saunders, Managing Partner, Inducor Real Estate Solutions
Scott Sharples, Senior Vice President, Tonko Realty Advisors Ltd.
As business practices evolve to include corporate environmental responsibility, green buildings are quickly becoming the standard for new construction. To remain competitive, owners of existing buildings are looking to align their facilities with their environmental mandates and to satisfy the needs of potential tenants looking for greener options.
This session will provide insight into how the first multi-tenant building to earn LEED® for Existing Building certification in Canada has achieved improved operating practices, gained a unique marketing differentiator, and is providing more desirable space for its tenants. Panelists will provide perspectives on approach, implementation and outcome from the point of view of an owner/operator, a consultant and a vendor.
Don Crichton, Vice President, Workplace Solutions, HOK
Barbara Ciesla, Co-leader Sustainable Design, Senior Associate, HOK
Stefanie Dodaro, Manager, Compliance & Certification Services, C.D. SONTER Ltd.
Darryl Neate, Manager, Sustainable Programs, Oxford Properties Group
This session will examine the often-thorny issue of operating cost charge backs in a net lease and where the difficulties lie with this practice. Operating costs and charge-backs are one of the most negotiated issues in lease negotiations, and sometimes they are the most misunderstood. What exactly is an operating cost and what is not? Do tenants understand them? What are the courts saying notwithstanding what the lease says? How transparent are landlords? How transparent do they need to be? Is there a challenge in allocating costs in a mixed-use building? If CAM costs are reduced, how are these savings passed on to tenants? If a tenant asks for full audit rights, can they exercise such a right? How frequently are landlords of office and retail space being audited by their tenants? What are their experiences and policies with respect to lease audits?
What is the language of a good and a bad audit clause, including how to settle audits, the timing and the process? Is there an appropriate administrative fee that landlords can charge?
Mark Kolke, President, MaxComm Realty Advisors Inc.
Jane Hampaul, Property Management Consultant
Ian E. MacRae, Partner, Macleod Dixon LLP
Gregory Liakopoulos, Partner, McCarthy Tetrault LLP
With downtown vacancy rates dropping, there is a sense that we are now in a landlord’s market. The session will open with a very brief overview of the comparative office leasing trends in the downtown cores, suburbs and other sub-markets in Calgary. How much unoccupied space is currently on the market? What is happening to net rents? What are projected long term rent trends?
What will likely happen in the remainder of 2008 and into 2009? How can tenants find cost certainty and flexibility under the current market conditions? Is there a changing mindset among tenants? Are they starting to view space and real estate as a strategic attribute rather than a cost? To what extent are tenants pushing the demand for greener building environments? Are there really higher costs and, if so, can they be justified? Can the quality of facilities contribute to retaining and recruiting key employees? Do greener buildings enhance occupant productivity and lower operating costs? What implications do green buildings have on leases? What attributes are meeting the corporate culture and needs of these users? How important is LEED? New office supply continues to be a hot debate – too hot, too cold or just right?
Sandy McNair, President, Altus Insite
Rob Blackwell, Director of Leasing, Aspen Properties Ltd.
Phil Markovich, Vice President, Leasing, Bentall Real Estate Services LP
Bill Richards, Senior Director, Leasing, GWL Realty Advisors Inc.
Loy Sullivan, Director, Office Leasing, 20 VIC Management Inc.
While the development of new and existing greener commercial buildings has been growing in Canada, there has been an absence of an appropriate “green lease” governing these types of properties for the benefit of both landlords and tenants. This session will examine in detail the first comprehensive “green lease” created specifically for the Canadian market. The REALpac Green Office Lease incorporates the latest sustainability principles and objectives, and offers landlords and tenants sustainability targets for energy, water, indoor air quality, and recycling. The Green Lease also enables landlords to carry out “green” renovations to existing building stock, and anticipates and provides for both carbon offsetting by a landlord, and future carbon trading. How can landlords and tenants agree to shared environmental objectives for tenant space and the building generally? How will the risk of “greenplating” be managed? How will existing buildings be converted over to a uniform “green lease”? In negotiating a “green lease”, where will the pushbacks be? If a cap and trade scheme comes to Canada, who will get the carbon credits? How will the lease negotiation process be managed?
Doug Hitchcox, Vice President, Office Leasing Division, Sustainability Practice Group, Cushman & Wakefield LePage
Bradley S. Gilmour, Partner, Regulatory, Calgary, Bennett Jones LLP
Change is a constant in retail development. The panel will discuss the implications of some of the latest trends in retail real estate on leases and the relationships between landlords and the tenants. What new types of retail properties are being created in this market? Why are there so many issues pertaining to exclusive use clauses? Are they poorly drafted or is it a function of market trends as retailers change their product offerings and reposition themselves? In addition, the panel will address how the increasing costs of construction are delaying or cancelling projects and how the tight labour market is impacting retailer’s decisions to do deals.
Rosanne Hill Blaisdell, Vice President, Leasing, Harvard Developments Inc.
Ralph Huizinga, Vice President Acquisitions & Development, First Capital Realty Inc.
Bob Tattle, Vice President Business Development, Anthem Properties Group Ltd.
Rob Walker, Vice President/Partner, CMN Calgary 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 in five minutes or less. Among the questions that will be covered:
Garth K. Anderson, Partner, Blake, Cassels & Graydon LLP
Stephen G. Raby, Q.C., Partner, Macleod Dixon LLP
Wayne R. Whitlock, Q. C., Partner, Bennett Jones LLP
This session will examine how a construction schedule really works. The goal will be to provide strategic advice on how to effectively manage a build-out or leasehold improvement (from the perspective of a landlord or a tenant) in today’s market taking into account the very latest in building code regulations and standards. Discussion will also cover such issues as: being ready on time; managing construction costs given the uncertainty in labour, materials and construction costs; and delivery dates and penalties. What tools can be used in the design and construction phases of a greening project that can ensure that the project stays on budget and meets its sustainability objectives? How can lifecycle assessment, whole building design, careful commissioning and thoughtful management help contain your costs?
Kevin Keyes, Partner, Gowlings LLP
Patricia Evans, Partner, Sizeland Evans Interior Design Inc.
Will Smith, Vice President, Development & Construction, Strategic Realty Management Corporation
Eric Toker, Principal, MAAA, MRAIC, Architect, Toker + Associates Architecture Industrial Design Ltd.
A panel of experts will participate in an engaging discussion on lease negotiations in today’s market. What is the current climate for negotiation in Calgary – who is winning and who is not? Two of the speakers will represent the landlords’ perspective while the other two panelists will represent the tenants’ interests. What are some of the typical discussion points that are easily resolvable in lease negotiation and what are the arguments used to reach the middle ground? How do landlords perceive themselves? How do tenants perceive themselves? What value could lawyers and brokers bring to the landlord, to the tenant and to the overall process in a tight market? How long should it take to finalize a deal in today’s Calgary market? How should a landlord deal with a bully tenant who just can’t be satisfied? How should a tenant deal with a bully landlord that won’t compromise? How do you plan for step-downs on the landlords’ side while making your case for changes on the tenants’ side?
Randy Fennessey, President, CMN Calgary Inc.
Rick Artus, Director, Office Leasing, Oxford Properties Group
Peter Collins, Partner, Field Law
Dwight Jack, Vice President, Office Leasing, Brookfield Properties
Brad Krizan, Manager, Corporate Real Estate, EnCana Corporation
Paul Skeans, Senior Director, Asset Management, GWL Realty Advisors Inc.