7:15 AM 

REGISTRATION & CONTINENTAL BREAKFAST

8:10 AM 

OPENING REMARKS: PROGRAM OVERVIEW

Conference Chairman:
Greg Guatto, President & COO, Aspen Properties Ltd.

8:15 AM

8:15 AM

Hear an insightful presentation on the performance and outlook for 2011 for the Alberta economy, and the key emerging trends in the Calgary region. What are major drivers affecting job creation in this market? What is the outlook for employment, population and economic growth for the Calgary area and for Alberta in general? How do the prospects for Calgary compare with the outlook for other major Canadian cities?

9:00 AM

MORNING REFRESHMENTS

9:30 AM

CONCURRENT SESSIONS (Select A1, A2 or A3)

Session A1:
WHERE ARE THE DOWNTOWN AND SUBURBAN OFFICE MARKETS HEADING IN THE NEXT TWELVE MONTHS?

How has the office market performed in downtown Calgary vs. the outlying areas? How much unoccupied space is there currently on the market? Is there much subleasing activity? What are net effective rates heading at this time? What are projected long term rent trends? What will stimulate greater leasing activity? What is drawing tenants to leave the downtown core? What will likely happen leading into 2012? How successful have landlords been as well as brokers on their behalf in rebranding or repositioning B and C class older office buildings vs. A space? How do landlords address the challenge of dealing with a tenant who is only in the market once every five or ten years? To what extent are any tenants pushing the demand for greener building environments? Is LEED certification a significant factor among tenants? What are the views of landlords in Calgary about greening their existing assets?

Moderator:
Sandy McNair, President, Altus Insite

Panel:
Rick Artus, Director, Office Leasing, Oxford Properties Group
Cindy Dubray, Leasing Manager, Morguard Investments Ltd.
Glenn Simpson, Principal, Avison Young (Canada) Inc.
Loy Sullivan, Director, Office Leasing, 20 Vic Management Inc.

Session A2:
CULTURE SHOCK: THE DIFFERENCE BETWEEN U.S. AND CANADIAN LEASES AND TENANT EXPECTATIONS

This session will examine some of the most common distinctions in commercial real estate law and in leasing practices on both sides of the border The discussion will focus on key significant differences that can emerge in Canadian lease negotiations and documentation with U.S. tenants. In the U.S., tenants appear to have more clout because it is a much larger and more fragmented market with a very diverse cross-section of office, industrial and retail owners. The degree and level of sophistication can also vary considerably across the states.

Moderator:
Stephen Knight, President, Sitings Realty Ltd.

Panel:
Matt Keenan, Assistant VP of Leasing, RioCan Real Estate Investment Trust
Stephen Raby, Partner, MacLeod Dixon LLP
Michael Witt, Partner, Stikeman & Elliott LLP Barristers & Solicitors

Session A3:
UNDERSTANDING LANDLORD AND TENANT RIGHTS IN TODAY’S MARKET: IS CALGARY ANY DIFFERENT FROM OTHER CANADIAN CITIES?

This panel will discuss and offer an explanation of the latest practices, and 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?

What management tools are available to help landlords to keep track, and how effective are they? When should these tools be used, and when refused?

Moderator:
Larry Kwinter, Partner, Borden Ladner Gervais LLP

Panel:
Geoff Christie, Director of Leasing, Western Region, CREIT Management L.P.
Robert MacDougall, Senior Managing Director, Cushman & Wakefield Ltd.
Kendra Pinder, Managing Principal, CresaPartners

CONCURRENT SESSIONS (Select B1, B2 or B3)

Session B1:
CASE STUDY: LOOKING BACK AT A RECENT INDUSTRIAL LEASE TRANSACTION(S)

The session will open with a brief overview of the demand side of the industrial market: logistics/warehousing and multi-tenant product vs. fabrication/service and single use product. What are the trends in the current industrial leasing market? Is Industrial space in demand? Have NERs stabilized? How much new development underway? Following the brief overview of the market the panel will discuss recent industrial lease transactions from start to finish and identify the challenges and obstacles that were present and had to be overcome in the process.

Moderator:
Iain Ferguson, Senior Vice President, CBRE Limited

Panel:
Sean Day, Director, Industrial Leasing, Oxford Properties Group
Neil Ferris, Vice President, Leasing, Bentall Kennedy (Canada) LP 
Ryan Haney, Vice President, Industrial, CBRE Alberta Limited
Jon Mook, Vice President/Partner, Colliers International

Session B2:
RISK MANAGEMENT IN LEASING TODAY: TEN THINGS YOU NEED TO KNOW

An examination of a broad range of risk management strategies that landlords need to consider in today’s leasing environment. What are the issues related to insurance that you must understand and ensure are part of the leasing process? What are landlords looking for in this market with respect to tenant guarantee, indemnities, letters of credit, deposits, and other forms of covenants? How is covenant risk being re-assessed for both new and existing tenants? How do you work with tenants without waiving all of your rights? What is the relationship between tenant improvements, tenant inducements, valuation and risk? What are the risks of sub-leasing? What environmental concerns of tenants do you have to be concerned with? What happens when the tenant goes bankrupt or seeks protection of insolvency laws? What is appropriate security for a non-balance sheet tenant? Has anything significantly changed with respect to security and covenants in today’s market?

Moderator:
Rob Blackwell, Director of Leasing, Aspen Property Management Ltd.

Panel:
Rick Charlton, Senior Vice President, Asset Management, WAM Development Group
Ian MacRae, Partner, Macleod Dixon LLP 
Mark St. Pierre, Executive Vice President, Avison Young Canada Inc.
Cosmo Racano, Managing Director, MARSH Canada Limited

Session B3:
GROUND LEASES IN TRANSACTIONS, FINANCING AND DEVELOPMENTS

This session will provide an overview of the key differences between ground leases and space leases and will discuss the key aspects (from both a landlord, tenant and lender perspective) that make ground leases marketable and financeable. Ground leases continue to be a tool that is used to obtain tenure for developments of all kinds and frequently arise in big box retail developments where long term income production or on developments where a high degree of control over the use of the site is a paramount consideration. Although ground leases may appear to closely resemble typical space leases in many ways, the differences are profound. A failure to understand these differences may result in a project situated on ground leased land being difficult (or impossible) to lease up, construct, market or finance. What obligations should a tenant ensure are included in a ground lease to satisfy a lender’s concerns and rating agency criteria? How differently should a landlord or tenant address the issue of repair and maintenance and damage and destruction as compared to a space lease? How important is it to have subdivisions approvals in place if a ground lease relates to a portion of a legal parcel? What is the best way to address environmental liability issues, especially on high risk or Brownfield sites? What special issues arise when ground leases relate to air space parcels? What additional issues arise if a ground lease is in a sublease position?

Speaker:
Greg Plater, Partner, Stikeman Elliott LLP

12:00 PM

LUNCHEON

MINI ROUNDTABLE DISCUSSIONS – MEET THE EXPERTS! (OPTIONAL)

Take advantage of this opportunity to participate in an informal luncheon discussion 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. Participants will have the opportunity to join small discussion groups that will be held concurrently during luncheon period.

1:15 PM

CONCURRENT SESSIONS (Select C1, C2 or C3)

Session C1:
THE CHALLENGES IN TODAY’S RETAIL LEASING MARKET:WHAT IS THE IMPACT OF U.S. RETAILERS COMING INTO THE CALGARY MARKET?

This session will focus on some of the major trends and issues in the current retail real estate leasing from both the landlords’ and the tenants’ perspectives. What impact is consolidation in both the landlord and tenant sector having on retail leasing? How many U.S. tenants are moving into the Canadian market? The panel will examine the implications of some of the latest trends in retail real estate on leases and the impact of more U.S. retailers coming into the Calgary market. Co-tenancy is an increasing issue in retail. What are some of the special rights that tenants could bargain for with co-tenancy?

Moderator:
Grant Kosowan, President, Orange National Retail Group (Prairies) Inc.

Panel:
Bernie Bayer, President, Taurus Property Group
Terry Evans, Managing Director, Leasing, Western Canada, First Capital Asset Management ULC
Darryl Schmidt, VP, National Leasing, Western Portfolio, Cadillac Fairview Corporation
Angela Wilhelm, Strategic Real Estate Consultant & Broker, Willspire Real Estate Services Inc.

Session C2:
UPDATE ON GREEN LEASES AND GREEN BUILDINGS: WHAT ARE THE RESPECTIVE RESPONSIBILITIES OF TENANTS & LANDLORDS TO KEEP A BUILDING GREEN?

The trend in “green buildings” or “high performance buildings” has gained significant momentum. The transformation of the market has been widespread and has included serious commitments from building owners, developers, investors, lenders, tenants, design consultants, builders, contractors, suppliers, communities, and governments at all levels. Over the past seven years, what have we learned about new or existing buildings that are labeled as green? Are greener buildings outperforming the conventional real estate market? Has the demand for higher quality buildings from tenants declined in the current economy? How strong is the case today for greener workspaces and office buildings? What is the current dynamic on this issue between employees, employers and their landlords? What have we learned about green leases? How competitive is a greener building in a market dominated by older conventional properties? What are the primary reasons that lead to the decision to construct or retrofit a green office building? Are there any risks for a landlord in not pursuing a greening strategy? Can the developer/owner expect an appropriate ROI on any additional cost associated with greening the building? What are the respective responsibilities and implications on tenants vs. landlords to keep a building green? How do you measure the savings associated with a greener building on an ongoing basis? What are the remedies if benchmarks are not being met?

Moderator:
Bill Partridge, President & CSO, BOMA Calgary

Panel:
Peter Collins, Partner, Field Law
Adrien Deveau, National Business Manager, Halsall Associates Limited
Ken Dixon, Director, Real Estate Management, Oxford Properties Group
Matt Grace, Division Head, Western Canada, Enermodal Engineering Ltd.

Session C3:
MASTERING LEASE NEGOTIATION IN TODAY’S CHANGING MARKET: HOW TO DEVELOP SOLUTIONS, RESOLVE KEY ISSUES AND CLOSE THE DEAL

This session will examine some strategies and techniques that landlords, tenants, lawyers and brokers can consider using in negotiating a lease in the Calgary 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. In today’s lease negotiations, what are the arguments used to reach the middle ground?

Moderator:
Kevin Keyes, Partner, McCarthy Tetrault

Speakers:
Karen Barry, President, Barry Commercial Real Estate
Cameron Black, Vice President, Legal, Brookfield Properties Corporation
Sean McCullough, Vice President, Leasing, Strategic Group
Todd Throndson, Managing Director, Avison Young Canada

2:30 PM

CLOSING SESSION — LEASING REAL ESTATE IN CALGARY TODAY: WHAT DOES THE CRYSTAL BALL INDICATE FOR THE NEXT 12 MONTHS?

As vacancy rates 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? What impact does this strategy have on net asset value? How do you get a deal done in this market? Do short term leases save money or not? Are there creative ways to complete a successful transaction? 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?

Moderator:
Greg Guatto, President & COO, Aspen Properties Ltd.

Panel:
Cody Clayton, President, Remington Development Corporation
Angus Fraser, Senior Vice President, CBRE Limited
Dwight Jack, Vice President, Office Leasing, Brookfield Properties Corporation
John Marotta, Senior Vice President, Western Region, Bentall Kennedy (Canada) LP

3:40 PM

CLOSING COMMENTS