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Networking opportunity for all Forum delegates will be held at the MTS Centre, 2nd Level Atrium.
Darren Klassen, President, BOMA Manitoba
Jeoffrey Chipman, President & CEO, Stevenson Group Inc.
Within the Canadian context, Winnipeg has had one of the best economic performances of any large city (population over 500,000) in Canada. Since the global downturn in 2009, Winnipeg’s has remained very stable making consistent gains in economic and job growth. This presentation will examine the outlook of this unique market and why it continues to enjoy a relatively low unemployment rate of 6% or less. Winnipeg’s GDP is expected to expand by 2.4% in 2012 as manufacturing shows signs of additional strength. What are Winnipeg’s other major economic drivers? How do the prospects for this market compare with the outlook for other major Canadian cities? To what extent will U.S. or other geo-economic challenges affect this market?
Benjamin Tal, Managing Director & Deputy Chief Economist, CIBC World Markets Inc.
An overview of leasing and investment activity in Winnipeg over 2011 and the first Quarter of 2012. Were there any benchmark leasing and investment deals during the past twelve months? What is the outlook for 2012 in the office, retail, industrial and multi-unit residential sectors in terms of absorption rates, cap rates and potential leasing and investment activity? How do the prospective trends for Winnipeg compare with other major Canadian markets?
Colin Johnston, President, Research, Valuation & Advisory, Altus Group
Sandy McNair, President, Altus InSite
To inquire about a copy of the presentation, please email Sandy McNair.
Two essential elements found in many of today’s successful cities are a diversified range of strong economic drivers coupled with a vibrant population and culture that inspires and attracts an intellectual market of residents. So how does Winnipeg fare in this regard? What competitive advantage does it offer? The city has a highly educated and productive workforce, low cost energy, a central location with excellent multi-model transportation system for distribution of goods to market, and a diversified manufacturing base that includes agri-business and aerospace among other industries. Strong retail sales continue to grow. Winnipeg’s is experiencing steady job growth and unemployment rates among the lowest in the country. At the same time, the city provides an outstanding balance between work and quality of life and offers one of the lowest overall business costs of any major Canadian centre. Why does Winnipeg have a stable economy? What are the major drivers of employment and growth? Winnipeg’s competitive advantage will be discussed in some greater depth along with the implications of the Transportation Master Plan and the Complete Communities Direction Strategy which has replaced Plan Winnipeg 2020 as the official development plan managing growth and change for the city.
Bill Morrissey, Leader, Yes! Winnipeg
Keynote Speaker: The Remaking of a Winnipeg Institution and the City’s Downtown Core
Lloyd Axworthy, President & Vice Chancellor, University of Winnipeg
Overview of Winnipeg’s Major Economic Drivers
Greg Dandewich, Senior Vice President, Economic Development Winnipeg Inc.
The Transportation Master Plan and Complete Communities Direction Strategy
Phil Sheegl, Chief Administrative Officer, City of Winnipeg
The Future of Agribusiness and It’s Importance to the Winnipeg Economy
Curt Vossen, President, Richardson International Limited
This session will examine what the future holds for the Winnipeg office market. Where are vacancy rates, cap rates and other underlying leasing and investment fundamentals heading at this time? Office space NERs tend to range from $6 to $16 per square foot – among the lowest in major Canadian and North American cities. What will it take to increase these rates? Are owners afraid to push rental rates even though operating costs are considerably lower than major cities across Canada? How are Class B and C properties performing compared to Class A? What is the outlook for demand and investment activity for the remainder of 2012 and beyond? How much interest is there in greening new and existing buildings? What threat do new business parks pose to future downtown office developments?
Wayne Sato, Vice President, Office, Cushman & Wakefield
Wayne Bollman, Vice President, Lakeview Realty of Canada Ltd.
Bruce Hamilton, President, Royal Canadian Properties Limited
Doug McDonald, President & CEO, NewWest Enterprise Property Group
Chris Vodrey, Director of Leasing, Morguard Investments Limited
Winnipeg is the largest distribution centre between Vancouver and Toronto. The city is at the core of both of Canada’s national intermodal rail systems with direct connections to the United States via CN and CP’s American subsidiaries. Winnipeg is also the headquarters for many of the top inter-provincial general freight carriers in Canada and offers access to ocean ports through Churchill and Thunder Bay. But faced with the current geo-economic and North American market challenges, how is the industrial real estate market performing? Where do vacancy rates stand? How is the battered manufacturing sector affecting demand for industrial space? Is this decline cyclical or structural? What does the future hold for the older industrial properties that do not easily meet the needs of today’s logistics market and may be facing obsolescence? What is the outlook for the industrial sector over the next twelve months?
Martin McGarry, President – Winnipeg, DTZ
Murray DeGirolamo, Vice President, Industrial, Western Canada, Hopewell Development Corporation
Scott Hayes, President & COO, Pure Industrial Real Estate Trust
Calvin Polet, President, Neptune Properties Inc.
Shaun Rocan, Vice President, Leasing, Bentall Kennedy (Canada) LP
The session will open with a brief overview of transaction volumes, values and trends in industrial, commercial and residential sites and properties for development purposes. A more in-depth discussion will then follow with developers and consultants. What are current land values and where are they heading for 2013 and beyond? What are the key market fundamentals and dynamics affecting land acquisitions and development in Winnipeg? How does Centreport Canada fit into this mix? Who are some of the most active buyers and what are their ultimate strategies? Is it difficult to access capital to finance land transactions and construction financing? Where are land and construction costs heading at this time? How is the City of Winnipeg affecting land investment and development activity? What other challenges are developers facing in this market?
Wes Schollenberg, Managing Director, Avison Young Commercial Real Estate (Manitoba) Inc.
Michael Falk, Vice President, Terracon Development
Mark Olson, President & CEO, LandStar Development Corporation
David van der Vis, Principal, Clarus Real Estate Advisors
Eric Vogan, Land Development Manager, Qualico Winnipeg
The Winnipeg retail market is experiencing some leasing strength. But what does the future hold? How is the supply and demand balance at this time with respect to the various types of retail formats being offered, tenant interest in this market, and levels of consumer spending? Is differentiation also a key ingredient between existing centres and new projects? What plans do various retail owners in Winnipeg have with respect to new projects or upgrading their existing properties? How many new foreign retailers are expected to be come into this market? What potential impact will they have? What formats and innovations are growing in popularity? What lies ahead for retail market activity in Winnipeg for the remainder of 2012 and beyond?
Derrick Chartier, President, CBRE Winnipeg
Finley McEwen, Senior Vice President, Development, The Cadillac Fairview Corporation Limited
Mauro Padula, Vice President Leasing, Western Region, SmartCentres
Michael Stronger, Director, Retail Services, Shindico Realty Inc.
Chris Wood, Principal & Director, Northwest Atlantic (Canada) Inc.
This session will examine the principal trends in demand, supply and investment activity in the Winnipeg apartment market. What is the short and medium term outlook for the performance of the multi-unit residential sector? Will rental demand and vacancy rates of 1% be sustained at their current levels? Where are rent levels heading over the next twelve months? Is the condominium market having an impact on the apartment sector? Where are cap rates heading? What is the impact of rent controls on this sector? What has CMHC mortgage insurance had any impact on apartment values? How has the Province’s Bill 40 affecting rent increases and condominium conversions in this market?
Jeff Rabb, President, Winpark Dorchester Properties
Dianne Himbeault, Senior Market Analyst, Prairie & Territories Region, Winnipeg, Canada Mortgage & Housing Corporation
Karl Loepp, President, Lola Construction Management
Richard Morantz, President, Globe General Agencies
Perry Rose, Vice President & Corporate Counsel, Qualico Canada
An insightful discussion about investment activity in the Winnipeg market. The session will open with a brief overview of some of the bellwether transactions over the past twelve months. The panel will address a range of questions including: What have been the major challenges facing investors trying to buy assets in Winnipeg? Are some investors avoiding this market any longer because asset values are below their minimum desired thresholds? With the continued access to low priced capital and a strong number of potential buyers, how much of a disconnect is there between supply and demand of product? Where will cap rates be by 2013 relative to today’s prices? Which product types appear to most strongly favoured by investors? How does the investment market in Winnipeg compare with other Canadian cities?
Brian Taillieu, Executive Vice President, Colliers International
Ugo Bizzarri, CFO & Managing Director, Real Estate Investments, Timbercreek Asset Management
Ian Cameron, Assistant Portfolio Manager, Real Estate, Manitoba Civil Service Superannuation Board
David Johnson, Senior Vice President, Asset Management, Central Canada and U.S. Region, Artis REIT
William Logar, Vice President, Portfolio Management, KingSett Capital
Mark Chipman, Chairman, True North Sports & Entertainment Ltd. and
Chairman & Governor, Winnipeg Jets
In Conversation with:
Don White, Executive Vice President, Colliers International
Downtown Winnipeg has attracted over $600 million of new investment in commercial, residential and sports-entertainment developments in recent years. The magnitude of this new investment – representing projects committed, underway or completed – is unprecedented. This session will examine the major factors behind this activity along with a series of current initiatives that are focusing on continuing the revitalization of Winnipeg’s downtown core. The first part of the discussion will examine CentrePlan, the City of Winnipeg’s visionary downtown strategy and the strategic role that has been played by the rather unique Centre Venture Development Corporation in being a leading facilitator by working with investors and developers to identify opportunities, securing financing, and cut through red tape to create development. Part two will examine the plans and underlying strategy of the Sports, Hospitality and Entertainment District (SHED) – an eleven block section of downtown Winnipeg that has been designated as a redevelopment zone and includes the Winnipeg Convention Centre, MTS Centre, Metropolitan Theatre and Burton Cummings Theatre. What is SHED? What are developers and the city doing in this district? What are most significant and potential investment opportunities? Two redevelopment examples that will be discussed include the Avenue Building and the Dreman Place office/retail/parkade.
Ken Yee, Senior Executive Vice President, Cushman & Wakefield
Ross McGowan, President & CEO, CentreVenture Development Corporation
Bill Coady, Vice President & General Manager, Sunstone Group
Scott Stephanson,Vice President, Longboat Development Corp.
Iconic projects play a significant role in defining a major city. This session will examine three key developments that will have an impact on the Winnipeg economy, its image across Canada, and instilling even greater pride in the community. The presentations will examine:
Richard Brownscombe, President & CEO, Montrose Winnipeg
Garth Buchko, President & CEO, Winnipeg Blue Bombers Football Club
Stuart Murray, President & CEO, Canadian Museum for Human Rights
Barry Rempel, President & CEO, Winnipeg Airports Authority Inc.
A panel discussion that will focus specifically on the debt market and try to determine what borrowers can expect for the remainder of 2012 and beyond. What are some of the active lenders in Winnipeg looking for? How are they assessing a transaction and pricing it in this market? Are there any property classes that they are avoiding, reducing exposure to, or increasing pricing for? To what extent do the strategies of pension funds, insurance companies and other institutions vary from those of private sources of debt capital? Could there be a shortage of credit and capital or is that highly unlikely? How available are mezzanine financing and other secondary sources of debt? How are they being priced? Case studies of actual transactions will be examined during the discussion.
Ron Margolis, President, Margolis Capital – Commercial Mortgage Professionals
Rick Bachalo, Vice President, Mortgage Investments, The Great-West Life Assurance Company
Troy Barker, Assistant Vice President, Prairie Region, First National Financial LP
Robert Bean, Assistant Vice President & Branch Manager, Canadian Western Bank
John Lund, Commercial Lending Manager, Winnipeg Market, Steinbach Credit Union
A roundtable discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for 2012 and beyond for the Winnipeg market and Canada as a whole. They will offer their insights on what they see occurring over the next twelve months, and their strategic thinking going forward. Among the other questions to be examined:
Jeoffrey Chipman, President & CEO, Stevenson Group Inc.
Remco Daal, President & COO, Canada, Bentall Kennedy
Armin Martens, President & CEO, Artis REIT
Kevin Pshebniski, President, Hopewell Development Corporation
Stephen Taylor, President & COO, Morguard Investments Limited