CONCURRENT SESSIONS (SELECT A1, A2 OR A3)
THE OTTAWA OFFICE MARKET: DOWNTOWN, KANATA, NEPEAN, MIDTOWN, AND THE EAST END – WHICH AREAS ARE IN DECLINE AND WHICH ONES ARE NOT?
With some 60% of the Ottawa office market being outside the downtown, this session will examine all the submarkets along with the core area. With its high concentration of high technology tenancies, Kanata appears to have finally shrugged off the effects of sluggish leasing conditions. What is the impact of DND’s move of 8,500 of its employees to the former Nortel campus? To what extent have vacancies increased over the past twelve months in most other submarkets – in some cases to levels twice as high as one year ago? How is the downtown market performing? What will generate the growth to fill the space across the Ottawa region? How demand is there be for? What new development is underway or anticipated? What impact has federal government real estate activities had on which submarket? To what extent are rents moving down and vacancy rising? What does the future hold for B and C class space?
Oliver Kershaw, Principal, Ottawa, Avison & Young
Dan Gray, Vice President, Leasing, QuadReal Property Group
Sender Gordon, Director, Investment & Leasing , The Regional Group of Companies
Bernie Myers, Vice President, Eastern Canada, Office/Industrial, Morguard Investments Limited
Marc Shank, Vice President, Leasing – Ontario & Western Canada, Cominar REIT
SESSION A2:Given the strong private investor demand to acquire and own assets in the Canadian market, major opportunities have emerged for entrepreneurialism in the real estate industry. These are traditionally privately owned firms with portfolios of assets that do not mirror the major pension funds, lifecos, private equity funds, and most publicly owned entities. Their tenants are the smaller office or retail chains, or successful local businesses. This type of investor typically wants to invest outside the stock markets and mutual fund industry. They are prepared to accept some risk, and because they are local investors, invest in projects that are between $1M to $10 M, often buying buildings under 25,000 sq. ft. They have the ability to see value and reward where many others do not. How do they source capital? What lenders and equity partners are best suited to work with them? What are some examples of how they structure their deals? What niches and opportunities do they strategically focus on to find the highest potential value opportunities that will enable them to make above average returns, provide ongoing monthly cash flow and own real estate that will grow and prosper? What have been the most significant challenges that they have had to endure? How do they see business and investment opportunities in the Ottawa market unfolding into the future?
THE UNDER 25,000 SQ. FT. REAL ESTATE HOLDINGS…WHAT ARE SMALLER ENTREPRENEURS DOING IN THIS MARKET? CAN FAMILY STYLE AND PRIVATELY OWNED INVESTORS FIND PROFITABLE OPPORTUNITIES?
Paul Bregman, Principal Consultant, Real Estate and Financial Advisory Services, Bregman Law
Jonathan Kardash, President, Marklyn Management
Michael Simon, Director of Financial Services, CLV Realty Corporation
Julie Taggart, Vice President, Operations & Leasing, Taggart Realty Management Inc.
John Zinati, Broker of Record, Zinati Realty Inc.
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 like Nordstrom, Saks, and others have been circling Canada and opening stores. The growth of online shopping is having implications for traditional retail formats. There are also concerns about tapped out consumers and the closure of national chains like Target, Future Shop, and many apparel retailers. Closer to home, three of the four major regional centres in Ottawa have been expanded and renewed including the $360M revitalization of the CF Rideau Centre. Add to this is the transformation of Lansdowne Park, the new Tanger discount outlet centre and the proliferation of urban retail in mixed-use developments across the inner city. In total, over 1.7M sq.ft. of retail space has been added to the inventory over the past three years. What is driving all of this activity? How are landlords and retailers responding to the transformational trends in the market? How are landlords and retailers adapting to the changing market conditions with pop-ups, incubation, omni-channel strategies and urban formats like Farm Boy’s opening in the CF Rideau Centre? What impact will the LRT have on future retail growth along with other inner city sites?
Richard Getz, Vice President, Retail, Colonnade Bridgeport Realty Inc., Brokerage
Stuart Craig, Vice President, Planning & Development, RioCan REIT
Alan Dillabough, Vice President, Development and Construction (East), Primaris Management Inc.
Sebastian Greenall, Senior Vice President, Architecture & Design, The Cadillac Fairview Corporation Limited
Mary Knapp, General Manager, St. Laurent Shopping Centre, Morguard
Jean Rickli, Senior Advisor, Sales and Operations, Real Estate, Strategic Planning, JC Williams Group