7:15 AM 

REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM 

OPENING REMARKS: PROGRAM OVERVIEW

Conference Chairman:
Todd Throndson, Managing Director, Calgary Office, Avison Young Real Estate Alberta Inc.

8:05 AM 

AN OVERVIEW OF THE SOFTENING CALGARY LEASING MARKET: KEY TRENDS AND TRANSACTIONS IN OFFICE, RETAIL AND INDUSTRIAL REAL ESTATE ;

This overview will discuss the office, retail and industrial leasing activity in the Calgary market. What are the major trends? Panelists will discuss deal flow, velocity and pace in today’s market, anticipated space availability and anticipated absorption rates over the next 12–18 months? 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?

Moderator:
Todd Throndson, Managing Director, Calgary Office, Avison Young Real Estate Alberta Inc.

Panel:
Brent Johannesen, Senior Vice President, DTZ Barnicke
Peter Mayerchak, Vice President/Partner, CMN Calgary Inc.
Chris Thompson, Associate Vice President, CB Richard Ellis Alberta Limited

9:05 AM

MORNING REFRESHMENTS

9:30 AM

CONCURRENT SESSIONS (Select A1, A2 or A3)

Session A1:
MAJOR OFFICE LEASING MARKET TRENDS IN A CHANGING MARKET

With vacancies across the city increasing, there is a sense that we are now in a tenant’s market. This session addresses 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? Are the rumours accurate that a 20% vacancy rate by 2011 is possible?

What will likely happen in the remainder of 2009 and into 2010? 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? 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?

Moderator:
Sandy McNair, President, Altus Insite

Panel:
Allan Bietz, Director of Leasing, Bentall LP
Sean McCollough, Vice President, Leasing, Strategic Group
Scott Sharples, Senior Vice President, Tonko Realty
Glenn Simpson, Principal, Avison Young (Canada) Inc.

Session A2:
MASTERING LEASE NEGOTIATION IN TODAY’S CHANGING 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 is the ideal timing for renewing leases in the current market? What are the typical discussion points that will be difficult, and what are the issues that should be easily resolvable?

Panel:
Randy Fennessey, President, CMN Calgary Inc. 
Greg Guatto, COO, Aspen Properties Ltd.
Kevin Keyes, Partner, McCarthy Tetrault

Session A3:
UNDERSTANDING LANDLORDS’ AND TENANTS’ RIGHTS IN TODAY’S MARKET

This panel will discuss the latest practices in (and offer an explanation of key differences in) rights of expansion, rights of contraction, early termination, rights of first refusal, rights of first offer and other real estate leasing tools in today’s market conditions. What are tenants asking for now and why? How are landlords responding to special rights involving downsizing of premises? Learn how these points should be addressed from the perspective of a landlord, a tenant, and a litigator resulting in a more ideal lease. 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? What are the issues to concern yourself with when you are drafting them? Both landlords and tenants are trying to build flexibility, and control, into their leasing arrangements. How can competing interests co-exist?

Moderator:
Larry M. Kwinter, Partner, Borden Ladner Gervais LLP

Speakers:
Rob Blackwell, Director of Leasing, Aspen Properties Ltd.
Larry Delf, Senior Vice President, Cushman & Wakefield Ltd.
Ken Stewart, Legal Counsel West, Oxford Properties Group

10:45 AM

CONCURRENT SESSIONS (Select B1, B2, B3 or B4)

Session B1:
INDUSTRIAL REAL ESTATE LEASING TRENDS IN CURRENT ECONOMIC CONDITIONS

What are your biggest challenges with tenants today in the current economy? To what extent has industrial space and demand been affected by the prevailing economic turbulence? What are the major differences in leasing space for warehousing and logistics vs. for 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 costs of construction and the 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?

Moderator:
Iain Ferguson, Vice President, CB Richard Ellis Alberta Limited

Panel:
Geoff Christie, Director of Leasing, Western Region, CREIT Management L.P.
Irene Au, Director, Leasing Western Canada, Dundee Realty Management Corp.
Kalen Morton, Leasing Manager, ING Real Estate Canada

Session B2:
STRATEGIES FOR BANKRUPTCY, INSOLVENCY AND MANAGING TENANTS IN A DISTRESSED MARKET

The discussion will open by exploring ways to manage potential tenant bankruptcy and insolvency in the lease, dealing with a receiver, and the latest case law in Alberta on these points. What are the latest issues in tenant default remedies? Are movable hypothecs worth the hassle? Does the Landlord have the right to cancel the lease? Does the Tenant? Does the Trustee? What happens to the letters of credit, deposits and guarantees when the tenant goes bankrupt or seeks the protection of insolvency laws? How can lease provisions manage sublease activity without unduly penalizing the tenant? When can the landlord’s consent be reasonably withheld?

Moderator:
Peter Collins, Partner, Field LLP

Panel:
Bruce Alger, President, Alger & Associates Inc.
Rod Olsen, Director, Property Management, Bentall LP
Blair Yorke-Slader, Partner, Litigation, Bennett Jones LLP

Session B3:
HOW DO OLDER OFFICE, RETAIL, INDUSTRIAL & APARTMENT PROPERTIES COMPETE IN THIS MARKET?

Recent new development in Calgary presents a major challenge to the owners of older buildings — especially B and C class properties. How do they ensure that the space in aging properties remains competitive in the market? Are tenants’ expectations and needs such that older buildings will have a difficult time meeting them? Or are the rents in the new projects at levels that make B and C class properties a better cost alternative? This session will examine the asset management, marketing, and leasing strategies that landlords can use to try to achieve their goals of keeping older existing office, retail, and industrial properties occupied and maintain their optimum Net Asset Value. The challenge of repositioning an older property will also be discussed.

Moderator:
Iain McCorkindale, Senior Director, Cost Consulting & Project Management, Altus Group

Panel:
Randy Borisenko, General Manager, Calgary, Morguard Investments
Roberto Geremia, President, Boardwalk REIT
Sharon Martens, Principal, MartensGroup licensed interior design
Peter Whitehead, Leasing Manager, Calgary Real Estate Office, Manulife Financial

12:00 PM

INFORMAL LUNCHEON & NETWORKING OPPORTUNITY

1:30 PM

CONCURRENT SESSIONS (Select C1, C2 or C3)

Session C1:
THE GROWING CHALLENGES IN RETAIL LEASING

The panel will examine the implications of some of the latest trends in retail real estate on leases and the relationships between landlords and the tenants, all within the context of the current economic conditions. What impact is the economy having on retailers and retail leasing in particular? What issues are arising or increasing? Are many retailers expected to fail in 2010? What impact is consolidation in both the landlord as well as the tenant sector having on retail leasing? 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? What impact do clauses in the master lease have re: subleasing? What are the rights of the head tenant vs. the subtenants? How are mass transfers affecting the retail sector and what is and what isn’t a mass transfer?

Moderator:
Kevin McCann, President/Broker, Retail Leasing Services Inc.

Panel:
Laurel Adamson, Director, Retail Leasing, Oxford Properties Group
Cameron J. Costley, Leasing Manager, Harvard Developments Inc.
Melvin G. Foht, Vice President, Royop Corporation
Matt Keenan, Assistant Vice President of Leasing, Western Canada, RioCan REIT

Session C2:
RAPID FIRE LEGAL ROUNDTABLE: TEN COMMON ISSUES IN 60 MINUTES

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 six minutes or less. Among the questions that will be covered:

• What is the purpose of the “fictitious outside date” in a Commencement Date formula?
• What are “gross-ups”?
• Why do some leases allow landlords to terminate in lieu of consenting to a sublease while others do not?
• What is the covenant of Quiet Enjoyment?
• What is Non-disturbance? Subordination? Attornment? Who needs them? And Why?
• Why or when does a default cause three months rent to accelerate?
• What is the fuss about damage and destruction clauses?
• What are the issues and responsibilities with restoration and demolition clauses?
• When can a clause stipulate a penalty for non-performance?
• What is the difference between a movable, a fixture and an improvement?

Panel:
D. Cameron Black, Vice President, Legal, Brookfield Properties Corporation
Samuel F. Durante, Partner, Macleod Dixon LLP
Gregory A. Liakopoulos, Partner, Real Property and Planning, McCarthy Tetrault LLP
Kenneth J. Ludwick, Wilson Laycraft

Session C3:
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:
Loy Sullivan, Director, Office Leasing, 20Vic Management Inc.

Panel:
Dwight Jack, Vice President, Office Leasing, Brookfield Properties Corporation
Gary Jones, Managing Principal, CresaPartners
Travis Lysak, Associate, Borden Ladner Gervais LLP

2:40 PM

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

As vacancies 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? How do you get a deal done in this market? Do short term leases save money or do they not? 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:
Todd Throndson, Managing Director, Calgary Office, Avison Young Real Estate Alberta Inc.

Panel:
Randy Cameron, Senior Vice President, Western Canada, Dundee REIT
Greg Kwong, Managing Director Alberta, CB Richard Ellis Alberta Limited
John Marotta, Senior Vice President, Western Region, Bentall LP
Kevin Pshebniski, President, Hopewell Development Corporation

3:45 PM

CLOSING COMMENTS