2019 Program

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Thursday, October 17, 2019

7:15 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME & OPENING REMARKS

Introduction:
Nicole Nault-Smith
, President, BOMA Ottawa

Forum Chair:
Bernie Myers
, Senior Vice President, Real Property, The Regional Group


8:10 AM
ECONOMIC OUTLOOK: WHERE IS CANADA HEADING AS 2020 APPROACHES?

An insightful presentation on the economic fundamentals that are driving the Canadian economy at this time. What is the outlook for economic growth, employment growth, inflation, and commodity prices over the next twelve months? Are interest rates heading lower on both side of the border? How strongly will the U.S. economy perform over the next 15 months? What is impact of the tariff war between the U.S. and Canada and the hold on approval of the USMCA? How will all these trends affect the Canadian economy?

Derek Holt, Vice President & Head, Capital Markets Economics, Scotiabank

 
SPEAKER PRESENTATION - Click button to download presentation

8:45 AM
AN OVERVIEW OF THE OFFICE, RETAIL, INDUSTRIAL AND MULTI-UNIT RESIDENTIAL MARKETS IN OTTAWA: INVESTMENT, LEASING AND DEVELOPMENT

A detailed examination and insights on some of the notable leasing and investment deals in the apartment, industrial, office, retail and land markets in the Ottawa region during the past twelve months. How much leasing and investment momentum did the Ottawa market experience in 2018 and the first half of 2019? What is the outlook for the remainder of 2019 and beyond? What are the market fundamentals at this time, e.g. vacancy rates, absorption rates, and cap rates? How much development is in the pipeline? What were some of the notable investment transactions this year so far?

Colin Johnston

Sean
Robertson-Tait

Colin Johnston, President, Research Valuation and Advisory, Altus Group
Sean Robertson-Tait, Senior Consultant, Research Valuation and Advisory, Altus Group

 
SPEAKER PRESENTATION - Click button to download presentation

9:20 AM
THE PUBLIC SECTOR AS TENANTS IN THE OTTAWA MARKET: HAS THEIR LEASING ACTIVITY INCREASED? WHAT ARE THEIR WORKPLACE NEEDS?

The federal, provincial and municipal governments along with universities and crown corporations are maintaining their historically traditional role as the largest occupiers of office space in the Ottawa market. To what extent have their space requirements changed in the past year? What type of workplace environments are they striving for? Are there new developments that are targeted at some of these tenants? What are some significant trends that we are likely to see in leasing and development for public sector tenants going forward?

Nathan Smith

Michael Swan

Brian Wallace

Michael Zanon

Moderator:
Nathan Smith
, Senior Vice President, Capital Markets Group, Cushman & Wakefield Ottawa

Panel:
Michael Swan, Assistant Vice President, Property Management & Leasing, Office & Industrial, Morguard
Brian Wallace, Vice President, Commercial Properties, Dream Asset Management Corp.
Michael Zanon, Senior Director, National Capital Region, GWL Realty Advisors Inc.  


10:00 AM
MORNING REFRESHMENTS

10:30 AM
CONCURRENT SESSIONS (SELECT A1, A2 OR A3)
SESSION A1:
THE TRANSFORMATION OF THE DOWNTOWN OTTAWA OFFICE MARKET: WHO IS MOVING IN? HOW ARE TECH TENANTS IMPACTING THE CORE?

Ottawa is a major technology hub with over 1,700 companies that have a strong focus on defence, security, video and other sectors. The downtown Class A market has reached an eight-year low vacancy rate resulting in a lack of any large block of space. This session will examine the evolution of downtown Ottawa – from its office market to the underlying culture of the community that lives and works there. How much growth has there been in high tech related tenancies in the core? What is unique about their growth? Are the demographics changing downtown with a higher portion of Generation X and millennials now in the workforce? How do their needs differ to traditional public sector tenants? Is the government presence in the core declining? Is co-working changing the make-up of office tenancies? What will the potential impact of the LRT be on these trends?

Shawn Hamilton

Wayne Berger

Rob Cameron

Lisa
Fulford-Roy

Sonya Shorey

Moderator:
Shawn Hamilton
, Senior Vice President & Managing Director, CBRE Limited

Panel:
Wayne Berger
, Chief Executive Officer, Canada & Latin America, IWG
Rob Cameron, Vice President, Strategic Transformation, Nokia
Lisa Fulford-Roy, Senior Vice President, Client Strategy, CBRE Limited
Sonya Shorey, Vice President, Strategy, Marketing & Communications, Invest Ottawa


SESSION A2:
WHERE ARE OTTAWA’S PLANNING PRIORITIES HEADING? WHAT IS THE CITY’S VISION FOR DEVELOPMENT GOING FORWARD? HOW WILL BILL 108 AFFECT THE DEVELOPMENT PROCESS? 

As Ottawa continues to evolve into a metropolitan area with a population of over one million, the City is implementing a series of key initiatives that have implications on growth and development beginning with a new Official Plan. The first portion of this session will examine many of these policies and strategies, and how they are impacting intensification and the urbanization of Ottawa. Part two will focus on the Government of Ontario’s Bill 108, how it amends 13 statutes, and its significant implications on the land use and development planning process in Ontario. What do you need to know and understand about this legislation?

Michael Polowin

Stephen Willis

Michael Polowin, Partner, National Municipal Group Leader, Gowling WLG (Canada) LLP
Stephen Willis, General Manager, Planning, Infrastructure & Economic Development, City of Ottawa

 
SPEAKER PRESENTATION - Click button to download presentation

SESSION A3:
NEW SUPPLY NEEDED TO EASE VERY STRONG INDUSTRIAL REAL ESTATE DEMAND: WHAT’S ON THE HORIZON?

While it is not a significant sized asset class, the Ottawa industrial market is on fire – as is the case across the country. Space availability is now a record low of 2% together with record rent levels. What are the major trends responsible for these leasing market conditions? Where are NERs heading? How much investment activity has this asset class attracted? To what extent have increased construction costs discouraged speculative builds in moving forward? With the majority of industrial user requirements being 5,000 to 15,000 sq. ft., how much of a mismatch is there between tenants needs and market inventory? 

Ed Belanger

James Beach

Dominic Bonin

Joe Iadeluca

Mike O’Sullivan

Moderator:
Ed Belanger
, Vice President, Industrial Investment, Sales & Leasing, Avison Young

Panel:
James Beach, Director, Real Estate & Business Development, Broccolini
Dominic Bonin, Director, Leasing, Skyline Commercial Management
Joe Iadeluca, Senior Vice President, Portfolio Management, Dream Industrial REIT
Mike O’Sullivan, Vice President, Asset Management, Fiera Real Estate

 
SPEAKER PRESENTATION - Click button to download presentation

11:30 AM
CONCURRENT SESSIONS (SELECT B1, B2 OR B3)
SESSION B1:
UNDERSTANDING THE OTTAWA RETAIL MARKET: FROM BUOYANT AND GROWTH TO CHALLENGES AND TRANSFORMATION

No other real estate property class attracts as much attention as retail. In recent years, U.S. and international retailers have been circling Canada and opening stores while others have been closing. The growth of online shopping is impacting many traditional retail formats. Are there concerns about potentially tapped out consumers and the closure of national chains like Target, Sears, Future Shop, and many apparel retailers? In the Ottawa market, over 2M sq. ft. of retail space has been added to the inventory over the past five years. What is driving all of this activity? How are they adapting to the changing market conditions with pop-ups, incubation, omni-channel strategies and urban formats? What impact will the LRT have on future retail growth along inner city sites? This session will also examine some retail development across the Ottawa market along with intensification of existing retail sites with the addition of purpose-built residential units.

Fraser Paddison

Candice
Lerner-Fry

Brian O’Hoski

Tim Roos

Julie Taggart

Moderator:
Fraser Paddison
, Leasing Manager, Retail, Colonnade Bridgeport Realty Inc., Brokerage

Panel:
Candice Lerner-Fry, First Vice President, Leasing, Marcus & Millichap
Brian O’Hoski, General Manager, CF Rideau Centre, The Cadillac Fairview Corporation Limited
Tim Roos, Vice President, Operations, RioCan REIT
Julie Taggart, Vice President, Leasing & Operations, Taggart Realty Management


SESSION B2:
REAL ESTATE OPPORTUNITIES IN GATINEAU – BEST KEPT SECRET IN THE NATIONAL CAPITAL REGION

While most attention in the National Capital Region is focused on Ottawa, the City of Gatineau has quietly flourished across the river. The fourth largest city in Québec, Gatineau has enjoyed the highest rate of growth among all communities in this province. The City Council has adopted a new plan earlier this year for managing growth and development. Aside from lower vacancy rates than in the Ottawa market, a number of forthcoming municipal infrastructure and real property projects are also underway in Gatineau. Being a city with a noticeable portion of younger demographics and families, Gatineau is also attracting a growing number of investors and businesses. The result is a mix of traditional economic activities and leading-edge technologies. What opportunities are there for developers and investors in this market?

Miguel Tremblay

Alain Grandmaison

Dominique Guindon

François Juneau

Moderator:
Miguel Tremblay
, Partner, Fotenn Planning + Design

Panel:
Alain Grandmaison
, Executive Vice President, Construction Junic
Dominique Guindon, Leasing Director, Heafey Group
François Juneau, Vice President, Investments and Administration, Multivesco Inc.


SESSION B3:
THE OFFICE MARKET OUTSIDE THE CORE: KANATA, MIDTOWN, NEPEAN, THE WEST AND THE EAST ENDS – WHICH AREAS ARE SLUGGISH AND WHICH ONES ARE NOT?

With some 60% of the Ottawa office market being outside the downtown, this session will examine all the submarkets outside with the core area. Both Nepean and Kanata have seen positive absorption while Ottawa East remains stagnant and Ottawa West and Centretown have had tenancy declines. What have been the main factors behind each of these trends? What have been the primary reasons for the decline in vacancy in the overall office market in the past 12 months by 25% to 8%? How much demand is expected in 2020 for new space and from whom? How much new development is anticipated or underway? Where are rent levels in these various submarkets? What does the future hold for B and C class space?

Jessica Whiting

Brent Arseneau

Dan Gray

Ashley Hopkins

Marc Shank

Moderator:
Jessica Whiting
, Senior Sales Representative, Colliers International

Panel:
Brent Arseneau
, Director, Office Leasing & Real Estate Broker of Record, Colonnade BridgePort Realty Inc., Brokerage
Dan Gray, Vice President, Leasing, QuadReal Property Group
Ashley Hopkins, President & CEO, Paradigm Properties
Marc Shank, Vice President, Leasing, Ottawa & Montréal, Cominar REIT


12:30 PM
NETWORKING LUNCHEON
LUNCHEON REFRESHMENTS

1:30 PM
LUNCHEON KEYNOTE INTERVIEW
A VISION FOR THE CONTINUED EVOLUTION OF OTTAWA: WHAT POLICIES IS THE CITY PURSUING IN ORDER TO ACHIEVE THIS GOAL?

MoneySense magazine named Ottawa as the No. 1 Place to Live in Canada. A conversation with the Mayor as he examines a vision for the ongoing growth of the City and priorities for the continued evolution of Ottawa to retain this exceptional ranking. What planning policies and infrastructure projects is the City implementing as part of this strategy? Why would someone come and invest in Ottawa?

His Worship
Jim Watson

Hugh Gorman

Introduction:
Andrew Watson
, Partner, Audit, KPMG LLP

Keynote Guest:
His Worship Jim Watson
, Mayor, City of Ottawa

Interviewed by:
Hugh Gorman
, Chief Executive Officer, Colonnade Bridgeport


2:30 PM
CONCURRENT SESSIONS (SELECT C1, C2 OR C3)
SESSION C1:
UPDATE ON THE OTTAWA MULTI-RESIDENTIAL MARKET: CAREFREE RENTALS, DEMAND, DEVELOPMENT AND
INVESTMENT

This session will open with an overview of the major trends in the Ottawa apartment market which continues to experience strong growth and one of Canada’s lowest vacancy rates at 1.5%. What is the outlook for the performance of the rental market? Where are demand and vacancy rates heading in 2020? What impact will provincial policy changes have on new rental projects? How much development is in the pipeline? The growing trend of carefree rentals and the key reasons behind it will also be examined. Why is this appealing to both young and older tenants? The session will end by examining the amount of investment quality apartments available for sale. What can break the logjam between strong investor interest and lack of sufficient product? Where are cap rates heading at this time and where are they expected to be in 2020?

Nick Pantieras

Denis Archambault

Brad Cutsey

Alfred Hendry

Kelly Rhodenizer

Moderator:
Nick Pantieras
, Senior Managing Director, IPA, Marcus & Millichap

Panel:
Denis Archambault, President, DMAC Group
Brad Cutsey, President, InterRent REIT
Alfred Hendry, Chief Executive Officer, Homestead Land Holdings Ltd.
Kelly Rhodenizer, Director, Commercial & Multi-Family Development, The Regional Group


SESSION C2:
WHAT IMPORTANT LESSONS ARE WE LEARNING FROM DEVELOPMENT GIVEN THE SCALE AND VOLUME OF ACTIVITY IN OTTAWA?

Ottawa is experiencing a wide range of development. The activity ranges from a large number of “community-building projects” – large-scale redevelopment of transformational properties – to smaller infill building within existing neighbourhoods. City staff are encouraging the redevelopment of large parcels, resulting mainly in mixed-use centres as well as in proximity to existing transit and LRT stations. Lansdowne Park, Greystone Village, Tunney’s Pasture and Zibi are just a few examples that signal an important period of city building in Ottawa and its progression as a National Capital City. This session will examine the key lessons that architects, developers and others can learn from development projects, both large and small, and from mixed-use to transit oriented development. The commentary will range from the economic feasibility of this activity to addressing design, planning and construction related challenges of these developments.

Brian Casagrande

Barry Hobin

Mary Jarvis

Mathew Laing

Kevin Skinner

Moderator:
Brian Casagrande
, Partner, Fotenn Planning + Design

Panel:
Barry Hobin
, Architect, Founding Partner, Hobin Architecture
Mary Jarvis, Director, Real Estate (National Capital Region), Canada Lands Corporation
Mathew Laing, Senior Vice President, Development and Planning, Trinity Development Group
Kevin Skinner, Vice President & District Manager, PCL Constructors Canada Inc.


SESSION C3:
AFFORDABLE HOUSING: WHAT ARE THE CURRENT TRENDS IN THE OTTAWA MARKET? WHAT ARE EXAMPLES OF PRIVATE & PUBLIC DEVELOPMENT INITIATIVES TO ADDRESS THESE NEEDS? 

Concern is rising in cities across Canada about the availability of sufficient affordable housing to meet the needs of families and individuals, particularly in the lower income brackets. This session will examine the current state of the Ottawa market in this regard. What initiatives is the city’s largest social housing provider undertaking to address these needs? How have developers taken advantage of the National Housing Strategy that was launched in 2017 or the Rental Construction Financing Initiative that the Federal Government announced earlier this year? What are some strategies that satisfy the government’s desire to encourage more affordable forms of housing while still making it feasible for private sector development?

Paula Gasparro

Jamie Shipley

Rodney Wilts

Cliff Youdale

Moderator:
Paula Gasparro
, Vice President, Real Estate Finance, CMLS Financial

Panel:
Jamie Shipley, Outreach Specialist, Partnerships & Promotions, Ontario Region, Canada Mortgage & Housing Corporation
Rodney Wilts, Partner, Theia Partners
Cliff Youdale, Chief Development Officer, Ottawa Community Housing 


3:20 PM
AFTERNOON REFRESHMENTS

3:30 PM
THE INVESTMENT ROUNDTABLE ON THE OTTAWA MARKET: WHAT ASSETS ARE THESE BUYERS LOOKING FOR? WHERE ARE CAP VALUES HEADING IN OTTAWA?

An insightful discussion with a cross-section of senior executives responsible for investment decision-making representing a wide range of national real estate organizations: from private equity funds to institutional investors. They will offer their perspectives on Ottawa’s market fundamentals, what they see occurring over the next twelve months, and what is their strategic thinking going forward. Among the other questions to be examined:

  • As current and prospective investors in the Ottawa market, what property classes and quality of assets are you looking for?
  • What does it take to complete an investment deal in this market?
  • What will be your strategy for 2020 and beyond in this market?
  • Where in the cycle is the Ottawa market? Where are cap rates heading? How do they compare in Ottawa with the national average of 5%?
  • What property classes will likely offer the best possible returns in 2020?
  • Is Ottawa now considered a top tier market for Canadian investors?

Bernie Myers

Nico Zentil

Colin Baryliuk

Brian Bastable

Michael Fraidakis

Emily Hanna

Glenn Way

Moderator:
Bernie Myers
, Senior Vice President, Real Property, The Regional Group

Investment Market Overview:
Nico Zentil
, Senior Vice President, National Investment Team, CBRE Limited

Panel:
Colin Baryliuk, Executive Managing Director, Investments, KingSett Capital
Brian Bastable, Managing Director, Investments, Slate Asset Management LP
Michael Fraidakis, Managing Director, Investments, BentallGreenOak (Canada) LP
Emily Hanna, Partner, Investments, Crown Realty Partners
Glenn Way, Senior Vice President, Asset Management, Canada, GWL Realty Advisors Inc.

 
SPEAKER PRESENTATION - Click button to download presentation

4:30 PM
NETWORKING RECEPTION