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Introduction of the Conference Chairman:
Danielle Chabot, President, CREW Calgary
Alex Wong, Executive Vice President, Avison Young
The opening presentation will examine the performance and outlook for the balance of this year and 2014 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 and what is required in this region to maintain the competitive position? Is the Calgary market seeing a cooling off period? How do the prospects for Calgary compare with the outlook for other major Canadian cities?
Todd Hirsch, Senior Economist, ATB Financial
How much transaction activity has there been in the Calgary office, retail and industrial leasing market over the past twelve months and what activity is expected for the next 12 months? How does the panel describe the deal flow and velocity in today’ uncertain market? Will it be more of the same or are developers and tenants taking a more cautious approach? What are the current occupancy rates, rental rates, etc. and where are they heading? What are the anticipated absorption rates for 2014? What are the profiles of the tenants that are currently looking for space? The panel will offer inside details on the latest developments coming on stream and discuss the implications the new projects will have on the marketplace and on leasing activity.
Alex Wong, Executive Vice President, Avison Young
Cody Clayton, President, Remington Development Corporation
Bob MacDougall, Senior Managing Director, Cushman & Wakefield Ltd.
Ian Parker, Senior Vice President, Asset Management, Brookfield Office Properties
Jim Rea, Executive Vice President/Partner, Colliers International
How has the office market performed in downtown Calgary versus the outlying areas? How much unoccupied space is currently on the market and is the city ready for another office tower? Is there much subleasing activity? Where are net effective rates heading at this time? What are projected long-term rent trends and what will stimulate greater leasing activity? What is drawing tenants to leave the downtown core? What is likely to take place leading into 2014? How successful have rebranding or repositioning attempts been on B and C class versus newer A class 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?
Sandy McNair, President, Altus Insite
Rick Artus, Director, Office Leasing, Oxford Properties Group Inc.
Dwight Jack, Vice President, Office Leasing, Brookfield Office Properties
Glenn Simpson, Principal, Avison Young (Canada) Inc.
Loy Sullivan, Director, Office Leasing, 20 VIC Management Inc.
The new Urban Design Guidelines are aimed at making policy and regulations easier for developers to navigate, but will this be the case? What can developers and designers do now? How can the industry be a part of the discussion? Are there any new policies expected to be developed? Who is driving the discussion and what impact could this have? Join this panel as they discuss how the leasing industry can be involved to ensure that concerns and feedback are heard during policy development.
Alderman John Mar
Stephen Mahler, Partner, Gibbs Gage Architects
Ken Dixon, Senior Manager Development, Real Estate Planning & Strategies, ATCO Group
David Down, Senior Architect | Urban Designer, Coordinator, Urban Design & Heritage, Land Use Planning & Policy, The City of Calgary
John Frank, Vice President of Construction, Hines
Alderman John Mar, Ward 8, Office of the Alderman, The City of Calgary
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 do tenants want 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 consider during the drafting process? 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 keep track, and how effective are they? When should landlords use these tools , and when should they refuse?
Gregory A. Liakopoulos
Olivia Colic, Partner, Osler, Hoskin &Harcourt LLP
Garth Anderson, Partner, Blake, Cassels & Graydon LLP
Peter Collins, Partner, Field Law LLP
Gregory A. Liakopoulos, Partner, Bennett Jones LLP
David Routledge, Vice President, Real Estate Management, Oxford Properties Group
Robert Jones, Senior Vice-President, Major Projects, TransCanada
Calgary is becoming a distribution hub, virtually overnight. How is this development changing the industrial market in Calgary? Will it continue? If yes, will it lead to overbuilding one sector over others? Will the existing infrastructure support this new growth? Will the rail lines need upgrades to manage this new growth? What are the absorption and vacancy rates for 2014?
Casey Stuart, Senior Associate, Industrial Division, Barclay Street Real Estate Ltd.
Kent Bacon, Vice President, Industrial, Avison Young Canada Inc.
Ryan Haney, Senior Vice President, CBRE Limited
Paul Marsden, Vice President/Partner, Colliers International
Mike Warner, Vice President, Industrial Sales & Leasing, Cushman & Wakefield Ltd.
This session will examine leasehold improvements and construction costs in Calgary. 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. The discussion will also cover issues such as: managing construction costs given the uncertainty in labour, materials and construction costs; delivery dates and penalties. What tools can be used in the design and construction phases of a greening project that can ensure 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?
Rob Blackwell, Vice President, Leasing, Aspen Property Management Ltd.
T. Mundi Isford, Principal, Prime Projects Ltd.
Andrea Freeman, Associate, Sizeland Evans Interior Design Inc.
David Schoonjans, Principal, Axiom Cost Consulting Inc.
Lois Wellwood, Principal, Kasian Architecture Interior Design and Planning Ltd.
Calgary experienced an office leasing frenzy from 2010 through to 2012. As a result, vacancy dropped to levels thought to be impossibly low but in the last 6 months it’s been “a game of wait and see”. What is next? Another frenzy with new office development or a contraction? How do tenants, brokers and landlords position themselves for both possibilities? What will likely happen in 2014? How are landlords dealing with the pricing structure for non-energy related companies, e.g. financial services, technology?
The session will also briefly examine the mindset of today’s tenants. Are they placing a greater emphasis on finding the right environment for their staff as opposed to simply focusing on cost? To what extent are tenants pushing the demand for greener building environments?
Irene Au, Vice President, Leasing, Western Region, Dundee Realty Management Corp.
Geoff Christie, Director, Leasing, CREIT Management L.P.
Alykhan Lalani, Vice President/Partner, Colliers International
Shannon Potter, Director, Leasing, Morguard Investments Limited
Peter Whitehead, Property Manager, Manulife Financial
Big box stores aren’t the only thing transforming the retail leasing industry in Calgary. Increasingly, retailers are having to negotiate more than just factors such as their competition, location and online shopping. Will the City of Calgary’s impending commercial design guidelines result in more expensive retail rates? Will this increase prohibit new retailers from entering or expanding in the Calgary market? What areas are likely to house new retail as a result of ‘social engineering’? How will retail leasing be impacted by plans for densification of inner city and the suburban development “freeze”? Are mixed-use and multi-story retail projects the face of new retail? What other factors are contributing to the evolution of today’s retail and what does this mean for the leasing market?
Chris Connor, Senior Account Manager, Orange National Retail Group (Prairies) Inc.
Ryan Darragh, Director of Leasing and Development, Ronmor Developers Inc.
Terry Evans, Vice President of Leasing – Western Canada, First Capital Asset Management Corporation
Paul McCloy, Vice President, Leasing, Taurus Property Group
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 discussion will also address the challenge of repositioning an older property.
Mark St. Pierre
Sean McCullough, Vice President, Leasing, Strategic Group
Warren Libert-Scott, Vice President, Office Leasing, Cushman & Wakefield Ltd.
Ashley Roberts, Senior Leasing Manager, Western Region, Artis REIT
Mark St. Pierre, Executive Vice President, Avison Young
This session will examine some strategies and techniques that landlords, tenants, lawyers and brokers should consider using in negotiating a lease in the Calgary market. More than ever, tenants continue to be extremely cost conscious and focused on lease flexibility, while landlords still seek to maximize rents and occupancy. But must one be traded off against the other? Will we see a trading up of tenants into space they are not naturally suited for over the longer term? 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 resolved? In today’s lease negotiations, what are the arguments used to reach the middle ground?
Ken Gordon, President, ARCI Ltd.
Don Fairgrieve-Park, Senior Vice President, Real Estate Services, Bentall Kennedy (Canada LP)
Kevin Keyes, Partner, McCarthy Tétrault LLP
Paul Skeans, Senior Director, Asset Management, GWL Realty Advisors Inc.
As vacancy rates in office, industrial and retail markets likely 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 middle ground? How long should it take to finalize a deal?
Alex Wong, Executive Vice President, Avison Young
Randy Fennessey, President, Colliers International
Greg Guatto, President & COO, Aspen Properties Ltd.
Randy Magnussen, President, Magnussen Consulting
Blair Sinclair, Senior Vice President, Leasing & Development, Triovest Realty Advisors Inc.