2015 Program

Title

Principal

Gold

Thursday, October 15, 2015

7:15 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME & OPENING REMARKS

Andrew Cross, Publisher, Espace Magazine

Conference Chair:

Michael Stones, Vice President, Real Estate Management, Oxford Properties Group Inc.


8:05 AM
ECONOMIC UPDATE ON MONTRÉAL: OUTLOOK FOR 2016

An examination of the economic outlook and performance of Montréal, and the key emerging trends in this market. What particular engines of the local economy are performing well and gaining strength? What is the outlook for employment and population growth? How do the prospects for Montréal compare with the outlook for other major Canadian cities?

Christian Bernard, Chief Economist, Montréal International


8:30 AM
HOW ARE THE MONTRÉAL OFFICE, RETAIL AND INDUSTRIAL LEASING MARKETS PERFORMING? HOW MUCH DEVELOPMENT ACTIVITY ARE WE SEEING?

How much momentum do the leasing and investment markets in Montréal have currently? Have there been any bellwether transactions? What is the outlook for the remainder of this year and beyond in the office, retail, industrial and multi-unit residential asset classes? How much development is underway? What is the status of these projects? How are market fundamentals including vacancy rates, absorption rates, and cap rates?

Michael Stones

Laurent Benarrous

Gina Mastromonaco

Gabrielle Saine

Moderator:
Michael Stones, Vice President, Real Estate Management, Oxford Properties Group

Panel:
Laurent Benarrous, Principal, Avison Young
Gina Mastromonaco, Associate Vice President, Real Estate Broker, CBRE Limited
Gabrielle Saine, Real Estate Broker, NAI Commercial


9:30 AM
MORNING REFRESHMENTS

10:00 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
SESSION A1:
THE TRANSFORMATION OF THE RETAIL MARKET AND TRADITIONAL FORMATS: NEW TENANTS, URBAN DEMAND, E-COMMERCE & OUTLET MALLS

The Canadian retail market is continuing to experience some dramatic change. While some U.S. and European retailers continue to enter Canada, other domestic and foreign chains are closing. Some pundits are predicting the decline and potential obsolescence of power centers. How much risk does e-commerce pose and to which portion of the retail market? The data shows that unlike American shoppers, Canadian online buying is still below 3% of total retail sales. What omni-channel strategies are retailers pursuing? How are regional shopping malls transforming to meet the needs of today’s consumer demographics? What impact is inner city condominium development having on retail formats to serve that new market segment? How are traditional retailers adapting to this urban environment? How is the luxury market being segmented? What innovations are appearing in the market? Do you need online presence before opening up a store in Canada? Is online presence essential to success in the Montréal retail landscape?

Manon Parisien

Éric Fortier

Tyler Harden

Luc Lavigne

Domenic Vincenti

Moderator:
Manon Parisien, Senior Vice President & COO, Aurora Realty Consultants

Panel:
Éric Fortier, Vice President, Leasing – Retail, Cominar REIT
Tyler Harden, Principal, Vice President, Leasing, Harden
Luc Lavigne, Vice President, National Leasing, The Cadillac Fairview Corporation Limited
Domenic Vincenti, Partner, Blouin Vincenti Real Estate


SESSION A2:
YOU SEND/RECEIVE A STANDARD LEASE; ARE YOU WORKING WITH THE RIGHT TOOL? YOU WOULD LIKE TO HAVE ONE, IS IT A GOOD IDEA?

Why do the lengths of standard leases, for comparable properties, vary between 10 and 60 pages? Do you know the origin of your standard lease? What are the main shortcomings of standard leases today? Must a standard lease be “reasonable”? Should you have just one standard lease that applies to all scenarios? When and by whom must a standard lease be revised? How should one proceed? How do brokers react when they send a standard lease to the other party, or forward one to their client? Would it be possible to have a standard lease for all of Quebec (one each for office, retail, and industrial space)? A standard lease should not be a static document. Don’t be static either and bring your comments and suggestions to help us ensure that transactions conducted with a standard lease are concluded under the best conditions, in a timely manner, and at the best price.

Denis Paquin

Philippe Colivas

Anne-Marie Côté

Chantal Desjardins

Caroline Dupras

Moderator:
Denis Paquin, Partner, Fasken Martineau DuMoulin LLP

Panel:
Philippe Colivas, Vice President, Legal, MTY Group
Anne-Marie Côté, Director, Legal Affairs, Ivanhoé Cambridge
Chantal Desjardins, Lawyer & Mediator, Chantal Desjardins Law Office Inc.
Caroline Dupras, Lawyer, Senior Advisor, Desjardins Group


SESSION A3:
NEGOTIATING STRATEGIES FOR TODAY’S MARKET: HOW TO UNDERSTAND THE DEAL, RESOLVE KEY ISSUES, AND CLOSE THE TRANSACTION

What are the issues and sticking points when negotiating in today’s market conditions and what are the arguments used to reach middle ground? How do you determine NERs in this leasing environment? What are some of the major issues being raised today’s negotiations? What can be done to resolve these differences? Are there any particular creative ways to complete a successful transaction? What are some styles of negotiations that can be particularly effective? What is the importance of determining desired outcomes before negotiations begin? How long should it take to finalize a deal? Under what circumstances would an owner offer an inducement or allowance in this market? How can leasing transactions and activities be influenced by, and differ among, various types of asset managers?

Jack Fattal

Louis-Martin Dubé

Andrew Maravita

André Plourde

Frédéric Seigneur

Moderator:
Jack Fattal, Vice President, Legal Affairs, Jesta Group

Panel:
Louis-Martin Dubé, Partner, Lavery de Billy
Andrew Maravita, Managing Director, Montréal Region, Colliers International
André Plourde, President, Groupe immobilier (Montréal . Québec)
Frédéric Seigneur, Vice President, Leasing, BTB REIT


11:00 AM
CONCURRENT SESSIONS (Select B1, B2 or B3)
SESSION B1:
DOWNTOWN VS. SUBURBAN OFFICE MARKETS: WHERE ARE THEY HEADING?

How has the office market performed in downtown Montréal vs. the growing interest in midtown vs. outlying areas? How much unoccupied space is there currently on the market? What impact are new developments having on the market? Will demand absorb most of the new space? How are older A space buildings responding? Where are NERs heading at this time? What are projected to be the long term trends? What is the profile of tenants who are attracted to the downtown core and the new space? What will likely happen in 2016? 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? To what extent are tenants increasingly pushing the demand for greener building environments? What are the views of landlords in Montréal about greening their existing assets?

Marie-France Benoit

Christian Charbonneau

Luisa Gianino

Mike Jager

Denis Perreault

Moderator:
Marie-France Benoit, Senior Director, Altus InSite, Division of the Altus Group

Panel:
Christian Charbonneau, Senior Vice President, CBRE Limited
Luisa Gianino, Director, Leasing, Canderel Management
Mike Jager, Director, Business Development, The Montoni Group
Denis Perreault, Principal & Managing Director, Avison Young


SESSION B2:
LANDLORD & TENANT RIGHTS AND REMEDIES: ISSUES THAT YOU NEED TO UNDERSTAND IN TODAY’S MARKET

Rights and remedies are an established common element of commercial real estate leases that 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. They will also discuss the differences and latest practices in rights of expansion, rights of contraction, early termination, rights of first refusal, rights of first offer, co-tenancy clauses, exclusives, renewal options and other real estate leasing tools. What are tenants asking for and why in today’s market? 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? Where does the law of waiver fit in? Learn how these issues are addressed from the perspective of a landlord, a tenant, and a litigator in today’s market conditions.

Julie Lanteigne

Elias Benhamou

Luciano D’Iorio

Joëlle Sebag

Catherine Vourakis

Moderator:
Julie Lanteigne, Partner, De Grandpré Chait LLP

Panel:
Elias Benhamou, Senior Partner, Davies Ward Phillips & Vineberg LLP
Luciano D’Iorio, President, Terramont Real Estate Services Inc.
Joëlle Sebag, General Counsel & Vice President, Canderel Management
Catherine Vourakis, Leasing Manager, Dream Office REIT


SESSION B3:
WHAT INNOVATIVE CHANGES ARE EMERGING IN TODAY’S WORKPLACES? WHAT DOES THIS MEAN FOR LANDLORDS AND TENANTS?

Tenants are strongly focused on having workplaces that are conducive to optimum productivity and that help attract and retain valuable employees. This session will explore some of the latest trends on how space planners, interior designers, architects and manufacturers are able to extract maximum value from today’s workplace. What are other issues and priorities for corporations as they strive for work environments that offer higher productivity? What is the business case for tenants and landlords related to such projects, and what role does other strategic thinking have in these decisions? To what extent are workplace trends reducing the size of the footprint that tenants currently occupy? What will be the implications of these innovations on the office market?

Erik Langburt

Terry Fraser-Reid

Gina Iaquinta

Katia Lemay

Jocelyn Poirier

Moderator:
Erik Langburt, Vice President, Leasing & Investments, Cushman & Wakefield

Panel:
Terry Fraser-Reid, Vice President, Development, The Cadillac Fairview Corporation Limited
Gina Iaquinta, Vice President, Business Development – Corporate Interiors, Aedifica
Katia Lemay, Development consultant, Planning and transactions, Real Estate Portfolio, Desjardins Group
Jocelyn Poirier, Executive Director, Stikeman Elliott LLP


12:00 PM
BUFFET LUNCHEON & MINI ROUNDTABLE DISCUSSIONS – WITH INDUSTRY EXPERTS AND YOUR PEERS!

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:

  1. Downtown Office Market and New Office Developments
  2. Industrial Leasing Market
  3. Retail Leasing Market Trends
  4. Landlord & Tenant Rights During Building Renovations/Demolitions
  5. Green Buildings: An Update
  6. Five Lease Clauses That Do Not Get Enough Respect
  7. The Challenges of Leasing in Mixed-Use Developments

If your preference is to sit at a table without a mini-roundtable discussion – several will be available for
attendees to do their personal networking.


12:00 PM
LUNCHEON REFRESHMENTS

1:00 PM
RAPID FIRE LEGAL ROUNDTABLE: HOT TRENDS AND PUZZLING ISSUES IN 60 MINUTES

A fast-paced session that will cover an assortment of “odds and ends” that people often experience in the leasing process that they do not always fully understand. Each issue will be addressed in the form of a debate between the landlord’s position, and that of the tenant. Questions examined will include:

  1. Our old ways are being challenged by a flurry of e-mails: Is the offer to lease an endangered species?
  2. Lease types: Is the true net lease in decline, and will we see more and more gross or semi-gross leases?
  3. Effects of the power shift in a “pro-tenant” market: Do landlords make more concessions today? If so, what are they? If not, which ones should they make to attract tenants, without losing their shirt? What is currently considered “market”?
  4. Back to the future: Can we talk about business taxes, in a 2015 lease, given that they have been abolished for more than 10 years? If so, how should it be done?
  5. Arguments about the content of a notice of lease: Can the landlord limit the items that a tenant describes in its notice of lease, save for the prohibition about rent and other financial conditions?
  6. Belt and suspenders? Does a tenant have to register a notice of lease when it renews a lease, even though its options are mentioned in the original notice of lease?
  7. Another mystery surrounding notices of lease: Is it always true that an offer to lease cannot be registered?
  8. Are your guarantees secure? Is the landlord always entitled to cash in on a letter of credit and to keep the deposit amount, when a tenant goes bankrupt?
  9. Question of the day: Is it the landlord or the tenant that has the obligation to survey the asbestos and to keep an asbestos register up-to-date, according the CSST regulations?
  10. Question of the day (#2): Are mediation and arbitration clauses still required (or even advisable) in leases, in light of the new Code of Civil Procedure of Québec?

Stéphanie Beauregard

Steven Chaimberg

René Gauthier

Speakers:
Stéphanie Beauregard, Attorney, Delegatus Legal Services Inc.
Steven Chaimberg, Partner, Miller Thomson LLP
René Gauthier, Partner, Cain Lamarre LLP


2:00 PM
CONCURRENT SESSIONS (Select C1, C2 or C3)
SESSION C1:
INTERACTIVE GROUP SESSION: REPOSITIONING AN EXISTING ASSET – IMPLICATIONS FOR LEASING STRATEGIES

Virtually every new development in today’s market is being designed with LEED certification or some high performance metric in mind. However, new construction still only represents a small percentage of the total building stock. What are the options facing existing properties with respect to enhancing the quality of their buildings beginning their energy and environmental performance? What steps can owners of existing buildings take to improve the operational efficiencies, amenities and image of their properties to ensure that their space remains competitive in the market? What can you do with B or C buildings to maintain or improve its Net Asset Value? This session will examine specific asset management, marketing, and capital strategies that you can lead to reposition a property in order to extend its attraction for tenants and its value for owners. An interactive approach will be used to examine this theme in detail with everyone participating at roundtables, and providing their feedback to a panel of asset management executives.

Georges Renaud

Paul Normandin

Anthony O’Brien

Dan Rejwan

Colin Worrell

Moderator:
Georges Renaud, Vice President, Business Development, Stratégique Real Estate Solutions

Panel:

Paul Normandin, Vice President, Crofton Moore
Anthony O’Brien, Senior Managing Director, North America, Jesta Group
Dan Rejwan, Director, Finance, Redbourne Realty Management Inc.
Colin Worrell, Director, Leasing, Allied Properties REIT


SESSION C2:
THE IMPLICATIONS OF THE NEW CIVIL CODE OF QUEBEC ON COMMERCIAL LEASING: WHAT OWNERS, BROKERS, LAWYERS & TENANTS NEED TO KNOW

This session will examine the key differences between the Civil Code of Québec and Canadian Common Law that can have implications for commercial real estate leasing. Discussion will also focus on changes to the new Québec Code of Civil Procedure. The session will bring some clarity to how all these differences and revisions can affect the structure and interpretation of commercial leases in Québec – 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 Montréal market? Time for Q&A has been built into this session – come prepared!

Marie-France Desrochers

Nathalie Bédard

Julie Desrochers

Céline Tessier

Moderator:
Marie-France Desrochers, Vice President, Corporate Services, NKF Devencore

Panel:
Nathalie Bédard, Partner, Donati Maisonneuve LLP
Julie Desrochers, Partner, Gowling Lafleur Henderson LLP
Céline Tessier, Partner, Séguin Racine


SESSION C3:
INDUSTRIAL LEASING: IS IT MAKING A COMEBACK IN THE GREATER MONTRÉAL AREA?

The session will open with a brief overview of the demand side of the Montréal 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? Are large distribution centres potential white elephants or not? Has there any impact from the City of Montréal’s “PRA.M.-Industrie” tax incentive package?

Erik Charton

Joe Iadeluca

Gil Kastner

Béatrice Roquet

Moderator:
Erik Charton, Senior Vice President, Industrial, JLL

Panel:

Joe Iadeluca, Senior Vice President, Portfolio Management, Dream Industrial REIT
Gil Kastner, Vice President, Leasing & Business Development, Landmark Properties inc.
Béatrice Roquet, Vice President, Colliers International


3:00 PM
THE LEASING MARKET OVER THE NEXT TWELVE MONTHS: WHAT STRATEGIES DO SENIOR EXECUTIVES SUGGEST? WHAT DOES THEIR CRYSTAL BALL SHOW THEM?

A discussion on how leasing strategies are shifting towards attracting tenants and standing out through creative renovations, positioning, and the uniqueness of the property. From REITs and pension fund advisors to passive equity investors and privately-owned companies, the range of asset management practices, policies and strategies in today’s market can be quite considerable. One challenge they are addressing is how a real estate entity grows in a market where there has been a decline in investment activity and new development is no longer viable. Does the focus of the owners now shift to creating greater value from their existing assets? This session will examine how asset management and leasing transactions and activities are part of the core of growing a building’s NAV. Discussion will focus on a broad range of topics including; how important is operational excellence as a way to raise the quality of the landlord’s brand in this very competitive leasing market and to tenant retention and how are landlords using creative renovations and positioning of the property as a strategy to attract tenants. What are some of the most effective ways of increasing the value of your existing assets while in turn providing greater value to your tenants? How important is tenant retention to building owners and managers? If so, then what practices should they be following in dealing with tenants during the life of a lease? What key benchmarks and metrics are being used by landlords to evaluate their real estate portfolio performance?

Michael Stones

Mario Bédard

Michel Bouchard

Bruce Burnett

Peter Picciola

Moderator:
Michael Stones, Vice President, Real Estate Management, Oxford Properties Group

Panel:
Mario Bédard, Senior Vice President, Québec and Maritimes, Bentall Kennedy (Canada) LP
Michel Bouchard, Executive Vice President, Operations, Carbonleo
Bruce Burnett, President, Antrev Management & Consulting Inc.
Peter Picciola,
 Vice President, Office Leasing – Québec, Ivanhoé Cambridge


4:00 PM
ADJOURNMENT