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How much transaction activity has there been in the Montreal office, retail and industrial leasing market over the past twelve months? How would you describe deal flow and velocity in today’s market? What are the current occupancy rates, rental rates, etc. and where are they heading? What are the anticipated absorption rates for 2012? What are the profiles of the tenants that are looking for space? How much of an emphasis is there on greener and more environmentally enhanced buildings in these market conditions? What is the outlook for the performance of the Montreal leasing market in 2012 and beyond?
Andrew Cross, Publisher, ESpace Magazine
Frédéric Labrie, Director, Altus Group
Andrew Cross, Publisher, ESpace Magazine
Ryan Cymet, Vice President, Industrial, Jones Lang LaSalle
Tom Godber, Senior Vice President, Principal, Avison Young Quebec
This session will examine the key differences between the Civil Code of Quebec and Canadian Common Law that can have implications for commercial real estate leasing. Some discussion will also focus on changes to the new Quebec Code of Civil Procedure. This session will bring some clarity to how all these differences and revisions can affect the structure and interpretation of commercial leases in Quebec – from landlords’ to tenants’ rights and obligations. What lessons can be learned from case law and what recommendations should landlords, tenants, lawyers and brokers consider with respect to lease negotiations and drafting in the Montreal market? There will time set aside for the audience to ask questions.
James Papadimitriou, Partner, McCarthy Tétrault LLP
Richard Burgos, Partner, Lavery, de Billy LLP
Emilio Elisio, Vice President, Legal Affairs, Ivanhoé Cambridge Inc.
Renée Vézina, Vice President, Legal, Oxford Properties Group
Anne-Marie Williams, Attorney, Audet Williams Inc.
This session will focus on some of the major trends and issues in the current retail real estate leasing market in Montreal from both the landlords’ and the tenants’ perspectives. Who are some of the new retailers poised to enter this market? How many traditional retailers are changing their merchandise mix, product lines and space requirements? One of the results is a blurring of retail lines between food and drugs etc. How are some landlords responding to this trend? Why are there so many issues with 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? How significant are any issues related to CAM costs?
Danielle Lavoie, Vice President, Client Services, Arcturus Realty Corporation
Dave Azran, Director, Leasing, The Cadillac Fairview Corporation Limited
Norma Howieson, Assistant Vice President, Leasing, Wescliff Management Ltd.
Julie Lanteigne, Lawyer, Real Estate Group, De Grandpré Chait LLP
Luc Lavigne, Director, Client Services, Oberfeld Snowcap
How has the office market performed in downtown Montreal 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 tenants are considering leaving the downtown core vs. those who are attracted to this location? What will likely happen in the remainder of 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 Montreal about greening their existing assets?
Marie-France Benoit, Director, Business Development, Altus InSite
Andrew Bissett, National Director and Executive Vice President, Jones Lang LaSalle
Peter Macpherson, Senior Director, Leasing, Ivanhoé Cambridge
Richard Poirier, Senior Vice President, Leasing, Magil Laurentian Realty Corporation
Dan Rejwan, Director, Finance, Redbourne Realty Management Inc.
Rights and remedies are an established common element of commercial real estate leases. They are at times contentious issues for landlords as well as to tenants. This panel will examine a range of issues beginning with five common default scenarios: what are the reactions of the respective parties; what makes sense; and how are litigators contending with these clauses where defaults occur. 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? Both landlords and tenants are trying to build flexibility, and control, into their leases. How can competing interests co-exist? How are litigators contending with these clauses where defaults occur? Learn how these issues are addressed from the perspective of a landlord, a tenant, and a litigator in today’s market conditions.
Louis-Martin Dubé, Partner, Lavery, de Billy LLP
Mireille Cloutier, Lawyer, Fraser Milner Casgrain LLP
Luciano D’Iorio, President, Terramont Real Estate Services Inc.
Céline Tessier, Lawyer and Senior Partner , McMillan LLP
Take advantage of this opportunity to participate in informal discussions 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. You will have an opportunity to be part of one of the following small discussion groups that will be held as an extension of the luncheon. Choose from one of the following discussion topics:
If your preference is to sit at another table, that is fine. Several will be available for individuals to do their personal networking.
Changes that can arise during the term of the lease including subleasing, change of control, relocation et al. are prevalent commodities in the office, industrial and retail markets. It is important for both tenants and landlords to understand the key issues, the implications of all these changes, and their respective rights in the event of any of these situations. In this session, the panel will discuss various scenarios where changes arise during the term of the lease, how to deal with any related issues, and how to settle the matters in the best interest of both parties. Changes discussed will include:
Nathalie Bédard, Partner, Donati Maisonneuve LLP
Marise Chabot, Commercial Real Estate Lawyer
Nancy Des Rosiers, Director, Real Estate Development, Renaud-Bray
Judy Taylor, Vice President, Leasing, Crofton Moore
The session will open with a brief overview of the demand side of the Montreal industrial market: logistics and warehousing vs. heavy uses. What are the major trends in this leasing market? What is the pace of deal flow? What are some examples of deals that have recently been completed? How does leasing compare in Laval and the North vs. the South Shore vs. the West Island and other submarkets? What type of space is becoming obsolete and what is not? How are industrial tenant requirements changing, and what recent landlord initiatives are addressing this demand? How have values of B and C buildings been impacted over the past year?
What does the future hold for these assets and other obsolete types of properties? What are the environmental challenges of dealing with contaminated sites?
Paul-Éric Poitras, Managing Partner, Quebec, NAI Commercial
Paul Fischlin, Vice President, DTZ Barnicke
Robert Giglio, Director, Leasing, Bentall Kennedy (Canada) LP
Jason Silver, Director, Leasing, The Luger Group
Sam Tsoumas, Director, Leasing, Broccolini Construction
What are the issues and sticking points when negotiating in today’s market conditions and what are the arguments used to reach the middle ground? How do you determine NERs in this leasing environment? What are some of the major issues being raised in negotiations today? What can be done to resolve these differences? Are there any particular creative ways to complete a successful transaction? How long should it take to finalize a deal? How are landlords responding to RFPs? Under what circumstances would an owner offer an inducement or allowance in this market? How is the increased entry of U.S. and other global firms into the Canadian market affecting negotiating strategies? How is risk being managed by the landlords and the tenants within the leasing process, e.g., tenant worthiness, covenants, security, landlord worthiness? How can leasing transactions and activities be influenced by, and differ among, various types of asset managers, e.g., an owner’s view of risk and how it affects leasing, how important is tenant retention to building owners and managers vs. the asset manager, what practices do different owners follow in dealing with tenants during the life of a lease, and how do asset managers resolve differences in perspectives with leasing managers.
Mario Bédard, Senior Vice President, Quebec and Maritimes, Bentall Kennedy (Canada) LP
Chantal Desjardins, Founding Partner, Chantal Desjardins Law Office
Robert Cressaty, Vice President, Leasing & Advisory Services, Landmark Properties Inc.
Marie-France Desrochers, Senior Manager, Corporate Accounts, Devencore Newmark Knight Frank
Laurent Roy, Partner, Gowlings LLP
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 approximately five minutes, and a debate is sure to ensue with the other experts – and the audience. Among the questions that will be covered are the following:
Stéphanie Beauregard, Real Estate Lawyer, Delegatus Legal Services Inc.
Steven Chaimberg, Partner, Lapointe Rosenstein Marchand Melançon LLP
René Gauthier, Partner, Gascon & associates L.L.P.