docVacancy Rate - BOMA Edmonton
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Vacancy Rate - BOMA Edmonton
a new EPCOR-sized tower – to consolidate Manulife 2 project, now called the 102nd offices located all over downtown and Street Centre. And of course all eyes are on reduce its overall footprint and rent bill. the arena district, where partners the Katz Fifteen proposals were under consideration Group and WAM Development were talking in the spring of 2013. last December about building two office The tenants are out there; so are potential towers sooner rather than later. marquee projects. Almost a dozen large office Ultimately, it will be the market that buildings are in various stages of planning, decides, and that boils down to major tenants including some that have been on the signing on to a project. Unlike Calgary or drawing board for decades. There is a sense Toronto, where the flows of office deals are that the first developer to make its move will much larger, financiers looking at Edmonton have a competitive edge. need to see the committed tenants before Projects thought to be moving ahead they agree to get behind a new development. include John Day’s tower on the site of The question is which will be the first to the Kelly Ramsey buildings and a revived be ready to go. “With these tax incentives, it’s like we already filled 10 units.” 9% 11.13% 11.24% 11.81% 9.00% 9.41% SUBURBAN 8.33% Vacancy (%) 12% 11.93% 12.96% 15% The Real Estate Practice at BDO Real Estate markets globally are undergoing a period of virtually unprecedented turmoil. Now more than ever, it is crucial to have proactive financial guidance to help you address these issues. BDO’s Real Estate practice combines in-depth knowledge of the industry with a truly global network of support. All through a single point of contact. DOWNTOWN 8.74% Vacancy Rate 9.59 % People who know Real Estate, know BDO. 6% Assurance | Accounting | Tax | Advisory 9897 34th Ave NW Edmonton 780 461 8000 www.bdo.ca/real-estate BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. 3% 0% 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 Source: Colliers International 32 | Commercial Real Estate Guide 2013 / 14 Facts for the Future: • Net migration in the Edmonton CMA has moved from a position of outmigration totaling 4,000 persons in 1995 to a positive In-migration of over 20,000 in 2009, according to the Conference Board of Canada. The influx of migrants and continued positive net migration has come from a substantial increase in the number inter-provincial and international moves. • Greater Edmonton is a politically stable region that promotes entrepreneurship, innovation and environmental sustainability. The region’s businessfriendly environment, coupled with strong economic performance, has attracted a growing number of major Capital projects. As well Edmonton acts as the primary logistical and service centre for Northern Alberta where $141 billion of major new investments will take place over the next decade. • Greater Edmonton benefits from Alberta’s tax regime, which is the lowest overall in Canada. Alberta has no provincial sales, capital, payroll or machinery and equipment taxes. • Edmonton is the closest major centre to the Alberta oil sands - the world’s most politically stable oil supply. This proximity is strategically close to Canada`s largest energy export market - the United States. Edmonton is also closer to many other centres, including Calgary, to more than half the top 100 population centres in North America, including Toronto, New York and Chicago. www.bomaedmonton.org | 33 A B SAFEWAY GAS BAR C OLIVER VILLAGE D E F G H I J GRANT MACEWAN UNIVERSITY STUDENT RESIDENCE OLIVER VILLAGE SAFEWAY CP TANNING GRANT MACEWAN UNIVERSITY CITY CENTRE CAMPUS SP VICTORY MANOR ELEGANT TOUCHES ALTA VISTA NORTH SP ALTA VISTA SOUTH SP SP KIDS & COMPANY MOTHER’S MUSIC PERSONS W/ DEV. DISABILITIES EDM. COMM. BOARD COVERED PARKING J&J QUILTING FIRE HALL #2 SP MONACO II SP CP ETON PARK APARTMENTS COURT 112 DEVONSHIRE GATEWAY APARTMENTS GRANDIN GATES SP EDMONTON GENERAL HOSPITAL SP MAPLE APARTMENTS ROOSEVELT LA SALLE APARTMENTS PRIVATE DWELLINGS GENERAL APARTMENTS THE SAVOY PEACE HILLS TRUST TOWER DEVELOPMENT SITE PRIVATE DWELLINGS NET SMART PRIVATE DWELLING RETAIL CENTRE MADISON 111 CROFTON HOUSE CP ROSEDALE PLACE PC CORP MICHELIN TIRES CHURCH WESTCLIFFE ARMS MANOI ST. JOACHIM’S MANOR PRIVATE DWELLING THE PARLIAMENT CONDOMINIUMS 109 STREET THE GALLERIA PRIVATE DWELLING DEVONIAN COURT CHURCH COWLEY BUILDING PRIVATE DWELLING PRIVATE DWELLING TEGLER MANOR PETRO CANADA PRIVATE DWELLING PRIVATE DWELLING SP GRANDIN TOWERS SP 111 STREET THE TRETHEWAY QUINN HOUSE SEE ZEN BENEVOLENT SOCIETY SP OIL CITY/ VINYL MACLEAN BLOCK SYLBERT PLACE SP BOSTON PIZZA PEACE HILLS INSURANCE BUILDING FIRST EDMONTON PLACE SP SP CENTRE WEST SEVENTH STREET PLAZA ALBERTA BLUE CROSS 7 www.collierscanada.com VICTORIA PARK PRIVATE DWELLING GRANDIN COURT CRESTVIEW TOWER ERIC CORMACK CENTRE HILTON SP ERIC CORMACK CENTRE MATRIX HOTEL SP BUDGET GRANDIN PRIVATE DWELLING 111 ST. CONDO 108 STREET BUILDING FORESTRY BUILDING 9925 BUILDING LABOUR BUILDING FINANCIAL BUILDING SP LE JARDIN JARVIS BUILDING WCB BUILDING SP AUGUSTANA LUTHERN CHURCH SP TOWNEHOUSE APARTMENTS BOWKER BUILDING FEDERAL BUILDING REDEVELOPMENT SP SP MEDICAL OFFICE THE DAVID THOMPSON GRANDIN GREEN 34 | Commercial Real Estate Guide 2013 / 14 CHEZ PIERRE STAND SP ATCO CENTRE SP RESTAURANT BAKER CENTRE HIGHFIELD PLACE STERLING PLACE FIRST PRESBYTER CHURCH RESTAURANT SP SP 5TH STREET PLACE ELIZABETH FRYE SOCIETY SP TERRA CENTRE ANDERSON DAWSON BLDG. COMMONWEALTH BUILDING CDN. ENERGY WORKER MEDICAL SP HAULTAIN BUILDING PRIVATE DWELLING PRIVATE DWELLING CARLTON TOWERS APARTMENTS OMEGA CONDOMINIUMS QUALITY INN SP THE MADISON SP HERITAGE TRAIL MAN GRANDIN MANOR OXBRIDGE PLACE TOWER ON THE PARK CAPITAL PLACE SP SECORD HOUSE ROYAL PARK APARTMENTS SP SP EDMONTON SEPERATE SCHOOL BOARD S ROCHELLE APARTMENTS PRIVATE DWELLING PRIVATE DWELLING AVALON APARTMENTS PRIVAT DWELLIN FOUNDE RIDGE CONDOMI 98 AVENUE PARK PLAZA PRIVATE DWELLING SINGLE FAMILY DWELLINGS 8 DAYS INN CANADIAN RED CROSS PETROLEUM PLAZA HI-LEVEL PLACE PRIVATE DWELLING EXPERT CLEANERS 100 AVENUE UNIVERSITY OF LETHBRIDGE BUILDING WESTWIND ESTATES SINGLE FAMILY DWELLINGS SP SP STARBUCKS SP WESTWIND ESTATES HSBC BUILDING ALTA BLOCK 99 AVENUE GRANDIN SCHOOL GRANDIN LRT COLLIERS MACAULAY NICOLLS INC. 3555 Manulife Place 10180 - 101 Street Edmonton, AB T5J 3S4 780 420 1585 SP PRIVATE DWELLINGS ENERGY SQUARE MARVEL COLLEGE SP WILDFLOWER GRILL BLUE CROSS PLACE SP 99 AVENUE PRIVATE DWELLINGS COAST EDMONT PLAZA HOTE CORONA LRT SP 44 CAPITAL BOULEVARD FIRST CHURCH CHRIST SCIENTIST LIBERTY BUILDING DOAN’S SP FIRST BAPTIST CHURCH MACDONALD BUILDING PRIVATE CLUB SP EL MIRADOR COMMODORE RESTAURANT MUCHO BURRITO LOUISE APARTMENTS SP SP THE TE JASPER 105 DENTAL MIXED USE DEVELOPMENT UNDER CONSTRUCTION UPTOWN CONDOS HARLEY COURT BURN BRAE APARTMENTS 112 STREET PRIVATE DWELLING SP BILL YM FOUNTAIN TIRE RETAIL SP ASSOCIATED ENGINEERING PLAZA 100 AVENUE PRIVATE DWELLINGS SP JASPER AVENUE CORAL GABLES PRIVATE DWELLING CARBON COPY ROCHESTER APTS. INTACT BUILDING ALBERTA CRAFT COUNCIL CHATEAU BERUIT THE SH BUILDI SP KHAZANA PATRICIA APTS. SP MONGOLI GRILL VO’S NAILS JASPER ONE-ELEVEN RICKY’S ALL DAY GRILL SP COMPASS PLACE PRIVATE DWELLING PRIVATE DWELLINGS THE DEVONIAN BUILDING SP DIALOG BOOSTER JUICE MARBLE SLAB WAREHOUSE MONACO I WHITECOURT SQUARE D’LUTCHI POSH BUA THAI CHATTERS SP CHAPEL OF CHIMES CAPITAL CENTRE BEACHES TANNING LIQUOR DEPOT KYOTO WHO CARES SWISS CHALET RILEYS 108 STREET MERIDIAN PLAZA ELLIS BUILDING MONTROSE APT. SP ROSEDALE VILLAGE THE EXECUTIVE GATES ON TWELFTH STARBUCKS STANTEC TECHNOLOGY CENTRE CANTERRA SUITES HOTEL OLIVER GABLES SAVE-ON FOODS SP 105 STREET BUILDING PUB 1905 RETAIL RETAIL SP COLLEGE SP CINE AUDIO & VISUAL RUSSEL FOOD EQUIPMENT CHARACT DININ 105 STREET NORQUEST COLLEGE NORQUEST COLLEGE VENTU PUBLISH CRYSTAL GLASS SPEEDY GLASS ASPIRE PLACE SP THE COURTYARD BUILDING METRO BILLIARDS CLUB 106 STREET 109 STREET SP FABUTAN GRAND CENTRAL MANOR I 7-11 111 STREET ONE ELEVEN COURT 112 STREET ENTERPRISE RENT-A-CAR ELDORADO COURT LRT (LIGHT RAIL TRANSIT) LINE 6 THE LEGAC 105 STREET CP SP BOYLE STREET EDUCATION CENTRE SP BEATTY LOFTS NORQUEST COLLEGE EN PRIVADO SURFACE PARKING CAMERON DEVELOPMENTS UNIGLOBE TRAVEL MIXED USE DEVELOPMENT UNDER CONSTRUCTION SP HIP ARCHITECTS 106 STREET PROPERTY 5 EDMONTON VET. EMERG. CLINIC SP CALDER BATEMAN COLLEGE COPY THE LIONS VILLAGE IN RAILTOWN BARCOLE APTS. DEVELOPMENT/CONSTRUCTION SITES PEDWAY SYSTEM HARCOURT HOUSE & GALLERY CP SP SP 102 AVENUE SICILIAN PASTA KITCHEN COMMERCIAL/OTHER CENTRAL TOWER TERRA PLAZA OFFICE BUILDINGS - FINANCIAL CLASS C RESIDENTIAL HAIR GARAGE RAILTOWN ROSEDALE MANOR OFFICE BUILDINGS - FINANCIAL CLASS A OFFICE BUILDINGS - FINANCIAL CLASS B SP HEALTH SCIENCES ASSOC.OF ALBERTA ROGERS VIDEO OFFICE BUILDINGS - GOVERNMENT CLASS C SP CUSTOM ORTHOPEDICS OFFICE BUILDINGS - GOVERNMENT CLASS B INT. BEAUTY SUPPLY JOHN DEER LOFTS 105 STREE LOFTS THE MANHATT MAP WORLD STYLUS 4 WAREHOUSE THE IMPERIAL GRAND CENTRAL MANOR II THE COSMOPOLITAN QUIZNO’S OFFICE BUILDINGS - GOVERNMENT CLASS A OAK MANOR BLUE WILLOW ROGERS EDMONTON DOWNTOWN MAP AADAC JEFFERSON LOFTS FORMER AUTO SALES NEW BALANCE OLIVER 113 & 102 PLACID PLACE LUSSEX CRHC BUILDING MALIGAYA/MAGGIE WALT/UPS STORE EDWARD APARTMENTS SP MEALS ON WHEELS LINES & LEGENDS/ BISTRO ONE-TWELVE CROWN ROYAL RODSHER BUILDING PRESS’D WOK BOX SECOND CUP SHERRY MANOR WESTERN SUPPLIES BUILDING 107 STREET LOFTS HI’S A|C LORD SIMCOE THE ROYAL PARK ROMANOVSKY BUILDING GLOBETROTTER/ NAILS 2001/GABBANA PARKSIDE MANOR FAY RUTH MANOR PRIVATE DWELLING 113 STREET CEDAR MANOR PRIVATE DWELLING SP VUE WEEKLY SP 103 AVENUE OLIVER MANOR JOEY TOMATO’S PRIVATE DWELLING PRIVATE DWELLING 114 STREET 3 TRADITIONS 115 STREET CHRISTOPHER ARMS THE MERIDIAN WBF TRAINING CENTRE MACCOSHAM LOFTS 103 AVENUE MCCAM 2 SP PINK LIME SALON & SPA SP FUTURE SHOP SP MONEY MART QUEEN DONAIR PEACHES MANOR CLINIC SP BURGUNDY COURT MIKADO SP RESTAURANT SABRE ARMS OLIVER PARK THE DORCHESTER 108 STREET COURTNEY LANE THE DIPLOMAT THE VENETIAN OVERTIME OLIVER 1 OLIVER COURT IMPERIAL PINES PANACHE ON 12TH RAILTOWN ON THE PARK RAILSIDE PLACE BURGUNDY COURT INNER TOWN MANOR CANADIAN BREWHOUSE FLY JEANS LOUISIANA PURCHASE NUE MANOR OLIVER 4 BRIGHTON PLACE 2 DENNY’S HARVEY’S WENDY’S & TIM HORTON’S SP QUEST CONDOMINIUMS & RETAIL SPACE SP 104 AVENUE SP VACANT SP 107 STREET 104 AVENUE BENJAMIN MOORE SP RED ROBIN GRANT MACEWAN UNIVERSITY CITY CENTRE CAMPUS SP HARBOUR CITY COMICS VISION MED HUDSONS FOCUS ON YOU THOMPSON OPTICS SUBWAY A-COMPUTERS IRIS EXTREME PITA KFC BMO LIQUOR STORE OLIVER FAMILY DENTAL THE TECH SHOP KAL-TIRE PAGE CLEANERS ATB FINANCIAL HI-Q ATB FINANCIAL STARBUCKS FOURTH & VINE TESORO TELUS 1 CHROME WILD TANGERINE MAXIMUM TANNING FIRST CHOICE PANAGO MARCO’S FAMOUS LIQUOR BARN LEGISLATIVE GROUNDS LEGISLATIVE ANNEX BUILDING THE RESIDENCE KAREN HALL BROADVIEW TERRACE COURT HILLSID GARDEN LINCOL APARTME RAINTREE APARTMENTS THE MARQUIS MACRA PRIVATE DWELLING SP PARKVIEW APARTMENTS RIVER VISTA RIVER VALLEY CONDOMINIUM PEREGR POINT K L M N O P Q R Downtown Office Buildings S FUTURE LRT EXPANSION NTON EDMO CENTRE REMAND FUTURE DEVELOPMENT (STATION LANDS) EPCOR TOWER SQUARE 104 SP SP NTON EDMO QUARTERS E HEAD POLIC SP SP JOHN E.EE BROWNL BUILDING CN TOWER THE BACCARAT CASINO SP RINE T ALBERTA PLACE SUITE HOTEL RETAIL HAWKEYES/ BOBBY PIN SP CP MELROSE MANNOR PRIVATE DWELLING Y.E ADAMS APARTMENTS HAIR SALON PRIVATE DWELLING MCDOUGALL PLACE CONDOMINIUM OLIVER BUILDING CLAIRE ESTATES DAY CARE HILLSIDE ESTATE APARTMENTS EALT/ECF HILLSIDE ESTATE APARTMENTS CP ATIO SALV ARMY TIX ON THE SQUARE 3 N CP EL CITAD TRE THEA DA CANA E PLAC E AV ER SP JA SUN LIFE PLACE 9T8 BUILDING SP HOTEL/ ALBERTA IO CKUA RAD AW SH UNION BANK INN UNDER REDEVELOPMENT SP MACDONALD ESTATES CP TELUS PLAZA NORTH MARRIOT COURTYARD HOTEL MACDONALD GRANT MACEWAN UNIVERSITY ALBERTA COLLEGE CAMPUS MCDOUGALL UNITED CHURCH TELUS HOUSE 5 WILLIAMS BUILDING COAST EDMONTON HOUSE PARK SQUARE APARTMENTS VALLEY TOWER CONDOMINIUM BEACON HILL APARTMENTS BELLAMY MANOR APARTMENTS SP BELLAMY PLACE APARTMENTS 6 RENAISSANCE PLACE CONDOMINIUM CAPITAL MANOR SP MULTIFAMILY DWELLING 7 CP VIVACITY ONE CONDOMINIUM BRITANNIA PARK PLACE PRIVATE DWELLINGS 4 RIVERVIEW INN PRIVATE DWELLING HORIZON APTS. E TR EN EC NC RE FE N CO PRIVATE DWELLING THE PALISADES E NU WESTIN HOTEL WORLD TRADE CENTRE ATIO SALV ARMY SP CROWNE PLAZA CHATEAU LACOMBE 100 AVENUE J.H. GARIEPY HOUSE DUNEDIN HOUSE EDMONTON JOURNAL BUILDING SP SP SP N RE CENT CHICAGO DEEP DISH SP FREE MASON’S HALL HOLIDAY INN EXPRESS FIRST & JASPER ROYAL BANK BUILDING CP STARLITE ROOM MCLEOD BUILDING CENTRAL LRT ENBRIDGE TOWER SP SCOTIA PLACE III 101 STREET PARAMOUNT BLOCK CWB PLACE Y CENTURE PLAC CP CDI COLLEGE N DOWNTOW EMPIRE BUILDING CIBC SP EAR WINSP STANLEY A. MILNER LIBRARY 100 STREET PLACE CP COMMERCE PLACE UNIVERSITY OF ALBERTA SENIOR CITIZENS RESIDENCE PRIVATE DWELLING RY CHANCE HALL WAY RICE HOWARD SCOTIA PLACE I & II ENTERPRISE SQUARE MELTON BUILDING SHERLOCK HOLMES RAMSEY BLOCK (UNDER REDEVELOPMENT) PHIPPS MCKINNON BUILDING DESIGN STAFFING 102 STREET CENTRE ENBRIDGE PLACE SWEDISH JEWELLERS BLDG. MANULIFE PLACE NATIONAL BANK FINANCIAL ER TELUS SERV BUILDING CAMBRIDGE LOFTS ICON I & II RETAIL MORRIS LOFTS CP MILNER BUILDING ROSSDALE HOUSE RENFREW ARMS APTS. PRIVATE DWELLING PRIVATE DWELLING MCKAY MANOR ROWLAND HOUSE LN ENTS AE MCKENZIE BUILDING GREAT WEST SADDLERY BLDG JAFFER BUILDING TE NGS DE NS BEAVER HOUSE DON WHEATON FAMILY YMCA 2 SP 3 BANANAS CAFE BAY/ENTERPRISE SQUARE LRT MACKAY AVENUE SCHOOL MUSEUM ER’S E INIUM SP BIRKS BUILDING CECIL PLACE N E NOR BROCK BUILDING 103 STREET Y BANK OF MONTREAL PHILLIPS LOFTS EAST TD TOWER 102 AVENUE THE MCKENNY BUILDING ARMSTRONG BLOCK APARTMENT RED ARROW STATION/ RETAIL RIAN H CITY CENTRE CITY CENTRE WEST 102 STREET THE CENTURY CONDOMINIUM SAGE CITY CENTRE PLACE DELTA CITY CENTRE CENTRE HIGH SCHOOL SP IAL PROVINC HOUSE COURT SIR WINSTON RE CHURCHILL SQUA 103 STREET THE METALS BUILDING DARD LIFE CENTRE E CP HSBC BANK PLACE 102 AVENUE ICON I ICON II CONDOMINIUM CONDOMINIUM ST TON A EL CP SP REVILLON BUILDING REES MCA COBOGO LOFTS CP YMCA SP LLERY ART GABERTA OF AL 102A AVENUE GRAND HOTEL ET 100A STRE HAW ING EN SUTTON PLACE HOTEL BOARDWALK BUILDING CP THE CHURCHILL TOWER BELL TOWER A&W EDM. EMERG. RELIEF SERVICES JAPANESE VILLAGE P 101ST STREET 103 AVENUE SP 104 STREET TER’S NG 103 AVENUE SP REET AFFORDABLE SELF STORAGE SP 1 E U AVEN 103A SP 97 ST BROOKFIELD ACY SP CITY HALL URTS LAW CO LRT CHURCHILL GREYHOUND LOT CP RE CITY SQUA TOWER APARTMENTS CP SP 100 STREET EXCELSIOR LOFTS STAPLES 101 STREET TAN GREYHOUND STATION 102 STREET REDEVELOPMENT SITE 103 STREET MERCER WAREHOUSE TELUS EDMONTON TELEPHONE EXCHANGE CDI BUILDING ET 99 STREET 104 AVENUE REET 97 ST REUSE CENTRE SQUARE 104 URE HING ENT VELOPM E) RE DESE UM SIT FUTUW (NE MU 8 MALOWNEYS BROWNING BLOCK DISCLAIMER: This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising therefrom. 2012. 100 Street Place 101st Street Tower 105 Street Building 108 Street Building 44 Capital Boulevard 5th Street Place 9925 Building 9Triple8 Jasper (formerly ATB Place) Alberta Block Alberta Labour Building Associated Engineering Plaza ATCO Centre Baker Centre Bank of Montreal Beaver House Bell Tower Birks Building Blue Cross Building Blue Cross Place Boardwalk Building Bowker Building Canada Place Canadian Western Bank Place Capital Place CDI Building Cecil Place Centre West Century Place Chancery Hall City Centre Place City Hall CN Tower Commerce Place Commonwealth Building Compass Place CRHC Building Devonian Building Dorchester Building Edmonton Journal Empire Building Enbridge Place Enbridge Tower Energy Square EPCOR Tower Financial Building First and Jasper First Edmonton Place Forestry Building Harley Court Haultain Building Highfield Place HSBC Bank Place HSBC Building Intact Building Jaffer Building Jarvis Building John E. Brownlee Building Labour Building Legislative Annex MacDonald Estates Manulife Place McLeod Tower Melton Building Milner Building Norquest College Oliver Tower Oxbridge Building Park Plaza Peace Hills Insurance Building Peace Hills Trust Tower Petroleum Plaza Phipps McKinnon Building Revillon Building Royal Bank Building Scotia Place I & II Scotia Place III Seventh Street Plaza Standard Life Centre Stanley A. Milner Library Stantec Technology Centre Sterling Place Sun Life Place TD Tower TELUS Tower North TELUS Tower South U of L Tower WCB Building Williams Building World Trade Centre - Edm www.bomaedmonton.org P4 O2 J3 G6 G5 J5 G6 Q4 J4 G6 F5 K5 J5 O4 L4 N2 L4 H5 H5 L3 G7 R4 L5 F8 P4 K4 H5 R3 Q3 O3 P2 P1 N4 I6 C5 C3 D4 G2 N5 O4 L4 M5 J4 O1 I6 O5 I5 G6 E5 G7 I5 N3 J5 G4 L5 I6 R1 G6 H8 Q4 N4 P4 L4 K5 H3 M6 I7 I7 H5 G5 H6 O4 L3 N5 O4 O4 H5 K5 Q4 C4 I6 R4 O3 P5 P5 H6 H6 P5 Q4 | 35 Downtown Survey Major Downtown Office Buildings Building Name P4 Management Company Contact 100 Street Place 10150-100 Street Leasing Company Contact Office Area (sq. ft.) Floor Space (sq. ft.) No. of Floors Year Built Melcor Developments Brandon Park, 780-423-6931 Melcor Developments Pat Melton, 780-423-6931 44,282 5,152 9 1970 O2 101 Street Tower 10235-101 Street Aspen Property Management Ltd. 780-442-3100 Avison Young Cory Wosnack, 780-428-7850 320,408 13,567 29 1978 J3 105 Street Building 10242-105 Street Humford Management Inc. Neha Ahir, 780-426-4960 DTZ Barnike Edmonton Inc. Chad Brennand, 780-421-1488 85,222 10,187 9 1980 G6 108 Street Building 9942-108 Street GWL Realty Advisors Inc. Carole Lajoie, 780-944-6221 GWL Realty Advisors Inc. Brent Peyre, 780-701-1104 177,246 14,451 11 1976 G5 44 Capital Boulevard 10044-108 Street Dundee Realty Management Co. Sue Punter, 780-423-4800 385,228 Dundee Realty Management Co. Sidney Waskiewich, 780-801-3872 28,000 (varies) 12 1983 P4 5th Street Place 10010-105 Street John Howard Society 780-428-7590 32,763 8,620 4 1952 G6 9925 Building 9925-109 Street Triovest 780-990-1768 Triovest Marc Harden, 780-990-1768 227,277 19,300 12 1977 Q4 9 Triple 8 Jasper 9888 Jasper Avenue Bentall Kennedy (Canada) LP Nellie Boyer, 780-990-7010 Colliers International Ian Bradley, 780-420-1585 174,226 11,100 16 1979 J4 Alberta Block 10526 Jasper Avenue CKUA Radio Foundation Ken Regan, 780-428-2020 CKUA Radio Foundation Ken Regan, 780-428-2020 37,028 4,983 6 1905 F5 Assoc Engineering Plaza 10909 Jasper Avenue ProCura Real Estate Services 780-414-8888 ProCura Real Estate Services Norbert Gelowitz, 780-414-8888 164,466 14,186 12 1978 K5 ATCO Centre 10035-105 Street Triovest 780-990-1768 285,46114,947 Triovest Marc Harden, 780-990-1768 (varies) 20 1982 J5 Baker Centre 10025-106 Street Dundee Realty Management Corp Crystal Lehoux, 780-423-4800 135,132 Dundee Realty Management Corp Sidney Waskiewich, 780-801-3872 10,081 (varies) 15 1969 O4 Bank of Montreal 10199-101 Street Dundee Realty Management Corp Sue Punter, 780-423-4800 126,899 Dundee Realty Management Corp Sidney Waskiewich, 780-801-3872 25,000 (varies) 6 1985 L4 Beaver House 10158-103 Street ONNI Group Gianni Laudisio 604-602-7711 Avison Young Cory Wosnack,780-428-7850 68,278 5 1925 N2 Bell Tower 10104-103 Avenue Aspen Property Management Ltd. 780-442-3100 421,484 Avison Young Cory Wosnack, 780-428-7850 4,704 31 Low Rise 14,704 1982 L4 Birks Building 10113-104 Street Melcor Developments Brandon Park, 780-423-6931 Melcor Developments Pat Melton, 780-423-6931 35,000 7,500 4 1929 H5 Blue Cross Building 10025-108 Street Alberta Blue Cross Paul Molnar, 780-498-8112 Alberta Blue Cross Paul Molnar, 780-498-8112 46,669 6,667 3 1956/1960 36 | Commercial Real Estate Guide 2013 / 14 John Howard Society 780-428-7590 85,319 Downtown Survey Major Downtown Office Buildings Building Name H5 Blue Cross Place 10009-108 Street Management Company Contact Alberta Blue Cross Paul Molnar, 780-498-8112 Leasing Company Contact Office Area (sq. ft.) Floor Space (sq. ft.) No. of Floors Year Built Alberta Blue Cross Paul Molnar, 780-498-8112 94,500 10,500 9 1975 153,515 19,994 8 1929 G7 Bowker Building 9833-109 Street Edon Management 780-425-3708 Government of Alberta 780-422-9577 R4 Canada Place 9700 Jasper Avenue Maple Leaf Property Management Carla Towstego-DeSousa , 780-822-6011 777,430 (varies) Maple Leaf Property Management Carla Towstego-DeSousa , 780-822-6011 15, 17, 4 1988 (three towers) L5 Cdn Western Bank Place 10303 Jasper Avenue Bentall Kennedy (Canada) LP 780-401-0903 406,019 Bentall Kennedy (Canada) LP Kevin Humphrys 780-990-7000 30 F8 Capital Place 9707-110 Street Paramount Investments Edriz Azizi, 780-434-5777 P4 CDI Building 10115-100A Street ONNI Group Gianni Laudisio, 604-602-7711 K4 Cecil Place 104 Street & Jasper Avenue H5 13,900 HR 13,500 LR Paramount Investments 137,993 15,500 9 Edriz Azizi, 780-434-5777 1980 1980 DTZ Barnicke Edmonton Inc. Cody Lowry, 780-421-1488 49,088 7,266 6 1974 Ayre & Oxford Inc. 780-448-4984 DTZ Barnicke Edmonton Inc. Chad Brennand, 780-421-1488 42,000 21,000 3 2008 Centre West 10035-108 Street Rancho Management Services Jack Dodds, 780-463-2132 Qualico Developments Jamie Hayward, 780-424-7474 159,953 14,541 12 1976 R3 Century Place 9803-102A Avenue City of Edmonton Kim Israel, 780-496-6578 City of Edmonton Kim Israel, 780-496-6578 213,908 11,464 22 1974 Q3 Chancery Hall 3 Sir Winston Churchill Square City of Edmonton Kim Israel, 780-496-6578 City of Edmonton Kim Israel, 780-496-6578 108,033 10,129 10 1966 O3 City Centre Place 10025-102A Avenue Oxford Properties Group Sean Graham, 780-426-8400 Oxford Properties Group Meghan Kinney, 780-426-8419 223,925 11,213 23 1974 P1 Strategic Group Courtney Strong, 780-454-8018 602,796 Strategic Group Courtney Strong, 780-454-8018 11,948 (varies) 27 1967 GWL Realty Advisors Inc. Darcy Armstrong, 780-944-1222 602,796 GWL Realty Advisors Inc. Brent Peyre, 780-701-1104 20,434 (varies) 27 1990 34,584 7,217 5 1965 83,580 9,035 9 1979 CN Tower 10004-104 Avenue N4 Commerce Place 10155 -102 Street I6 Commonwealth Building 9912-106 Street Midwest Property Management 780-420-4029 DTZ Barnicke Edmonton Inc. Cody Lowry, 780-421-1488 C5 Compass Place 10050 - 112 Street Humford Management Inc. Susan Osterloh, 780-426-4960 Colliers International Phil Goh, 780-420-1585 D4 Devonian Building 11150 Jasper Ave Canterra Development Corp. Murray Brown, 780-413-7150 G2 Yale Properties Lynn Blomberg, 780-424-4477 Dorchester Building 10357-109 Street Colliers International 158,90717,600 102009 Cushman & Wakefield Edmonton Dennis Herbut, 780-420-1177 56,712 Ian Bradley, 780-420-1585 Redevelopment 12,000 4 www.bomaedmonton.org 1911 | 37 Downtown Survey Major Downtown Office Buildings Building Name Management Company Contact Leasing Company Contact Office Area (sq. ft.) Floor Space (sq. ft.) No. of Floors Year Built NorQuest College 780-644-6220 31,367 15,683 2 1961 140,000 28,000 5 1990 H3 East Court Building 10704-102 Avenue NorQuest College 780-644-6220 N5 Edmonton Journal 10006-101 Street Edmonton Journal Dave Becker 780-429-5111 O4 Empire Building 10080 Jasper Avenue Kipling Realty Management Jane Miller, 780-669-2095 Enbridge Place 10130-103 Street Dundee Realty Management Co. Sue Punter, 780-423-4800 Dundee Realty Management Co. Sidney Waskiewich 780-801-3872 262,965 11,711 22 1981 Enbridge Tower 10201 Jasper Avenue Bentall Kennedy (Canada) LP Ernie White, 780-401-0902 Bentall Kennedy (Canada) LP Kevin Humphrys 780-990-7000 182,476 9,062 21 1981 J4 Energy Square 10109-106 Street Rancho Management Services Jack Dodds, 780-463-2132 Qualico Developments Jamie Hayward, 780-424-7474 129,662 10,886 12 1979 O1 EPCOR Tower 10423-101 Street Rancho Management Services Jack Dodds, 780-463-2132 Colliers International Ian Bradley, 780-420-1585 625,000 24,200 28 2011 I 6 Financial Building 10621-100 Avenue Stromiga Inc. Ron Benjamin, 780-262-5564 Cushman & Wakefield Edmonton Dennis Herbut, 780-420-1177 136,493 12,400 11 1957 / 1975 O5 First & Jasper 10065 Jasper Avenue GE Canada Real Estate Equity Mike Sparrow 780-448-6021 Avison Young Cory Wosnack 780-428-7850 192,029 10,111 20 1974 First Edmonton Place 10665 Jasper Avenue National Realty Bob Hutchinson, 780-423-2000 Avison Young Cory Wosnack, 780-428-7850 225,855 16,680 15 1983 G6 Forestry Building 9920-108 Street GWL Realty Advisors Inc. Carole Lajoie, 780-944-6221 GWL Realty Advisors Inc. Brent Peyre, 780-701-1104 129,686 12,969 10 1979 I5 Highfield Place 10010-106 Street Dundee Realty Management Corp Crystal Lehoux 780-423-4800 Dundee Realty Management Corp Sidney Waskiewich, 780-801-3872 101,533 10,460 10 1977 N3 HSBC Bank Place 10250-101 Street Dundee Realty Management Corp Sue Punter, 780-423-4800 Dundee Realty Management Corp Sidney Waskiewich, 780-801-3872 270,756 16,360 18 1980 J5 HSBC Building 10055-106 Street Dundee Realty Management Corp Sue Punter, 780-423-4800 Dundee Realty Management Corp Sidney Waskiewich, 780-801-3872 114,092 9,854 12 1974 G4 Intact Building 10830 Jasper Avenue ProCura Real Estate Services Ltd. 780-414-8888 ProCura Real Estate Services Ltd. Norbert Gelowitz , 780-414-8888 225,000 20,000 11 2008 L5 Jaffer Building 10355 Jasper Ave Jaffer Properties Inc Jan Musani 780-429-1255 Xten 211 27,000 7,500 5 1967 I 6 Jarvis Building 9925-107 Street Workers Compensation Board Manuel Vervoorst, 780-498-4874 120,270 10,000 13 1971 M5 I 5 38 | Commercial Real Estate Guide 2013 / 14 Edmonton Journal Dave Becker 780-429-5111 104,161 9,100 11 1962 Colliers International Chad Boddez, 780-420-1585 Jaffer Properties Inc Jan Musani 780-429-1255 Xten 211 Workers Compensation Board 780-498-4874 Downtown Survey Major Downtown Office Buildings Building Name Management Company Contact R1 John E. Brownlee Building 10365-97 Street Stetson Consulting Services Ltd. 780-482-4078 H8 Legislative Annex 9718-107 Street G6 Leasing Company Contact Office Area (sq. ft.) Floor Space (sq. ft.) No. of Floors Year Built Alberta Infrastructure and Transportation 780-427-1633 400,311 40,031 10 1984 Province Of Alberta 780-427-7453 Province Of Alberta 780-427-7453 150,220 10,714 12 1952, 1958 Labour Building 10808-99 Avenue GWL Realty Advisors Inc. Carole Lajoie, 780-944-6221 GWL Realty Advisors Inc. Brent Peyre, 780-701-1104 90,324 8,829 10 1968 Q4 MacDonald Estates 9939 Jasper Avenue Canadian Urban Limited Mike Sparrow, 780-424-7722 Avison Young Karnie Vertz, 780-428-7850 20,000 5,148 26 1973 P4 McLeod Tower 10004 Jasper Avenue Re/Max Real Estate Robert McLeod, 780-447-084 48,762 6,100 6 1961 N4 Manulife Place 10180-101 Street Manulife Financial 780-420-6236 Manulife Financial Susan Chibri / Kim Sheppard, 780-420-6236 744,690 22,930 36 1983 L4 Melton Building 10310 Jasper Avenue Melcor Developments Dave Ball, 780-423-6931 Melcor Developments Pat Melton 780-423-6931 112,933 13,004 9 1973 K5 Milner Building 10040-104 Street Dundee Realty Management Co. Crystal Lehoux, 780-423-4800 Dundee Realty Management Co. Sidney Waskiewich, 780-801-3872 180,026 13,497 12 1959 I7 Oxbridge Place 9820-106 Street GWL Realty Advisors Carole Lajoie, 780-944-6221 GWL Realty Advisors Brent Peyre, 780-701-1104 209,941 13,796 14 1976 Cushman & Wakefield Edmonton Neil Smith / Mike Parker, 780-420-1177 139,400 14,000 16 1985 13,048 6 1980 Re/Max Real Estate Robert McLeod, 780-447-084 I7 Park Plaza 10611-98 Avenue Oaksey Investments 780-455-3420 H5 Peace Hills Insurance Bld. 10709 Jasper Avenue NewWest Enterprise Property Group Sonny Crowley, 780-423-4407 Avison Young Cory Wosnack, 780-428-7850 74,428 G5 Peace Hills Trust Tower 10011-109 Street Triovest 780-990-1768 Triovest Marc Harden, 780-990-1768 148,67312,772 H6 Petroleum Plaza 9915/9945-108 Street Morguard Investments Limited Glen Scheuerman, 780-421-8000 304,770 Morguard Investments Limited Mike Verhoski, 780-421-8000 N 12,128 S 10,710 13 1971 / 1973 L3 Revillon Building 10201-104 Street NewWest Enterprise Property Group Julie Piquette, 780-423-4400 CB Richard Ellis Jeff Simkin, 780-424-5475 111,764 17,139 6 1912 Royal Bank Building Melcor Developments Brandon Park, 780-423-6931 Melcor Developments Pat Melton 780-423-6931 135,000 7,910 15 1965 10117 Jasper Avenue O4 Scotia Place 10060 Jasper Avenue Morguard Investments Limited Glen Scheuerman, 780-424-1693 Morguard Investments Limited Mike Verhoski, 780-421-8000 611,169 12,580 28 / 21 1983 O4 Darlington Properties Inc. Martin Schultz, 780-490-1100 32,000 Darlington Properties Inc. Martin Schultz, 780-490-1100 4,400 (varies) 5 1981 N5 Scotia Place Tower 3 10072 Jasper Avenue 12 1981 www.bomaedmonton.org | 39 Downtown Survey Major Downtown Office Buildings Building Name H5 Management Company Contact Seventh Street Plaza 10030-107 Street Alberta Health Services 780-735-0246 G7 Sir Frederick W. Haultain 9811-109 Street Edon Management 780-425-3708 K5 Leasing Company Contact Real Estate & Leasing “North” Len Klausner - Director 780-735-1366 Government of Alberta 780-422-9577 Floor Space (sq. ft.) No. of Floors Year Built N 156,500 S 155,982 13,000 13 1977 137,757 13,775 8 1956 169,561 14,515 19 1980 Standard Life Centre 10405 Jasper Avenue Arcturus Realty Corporation Ana Julio, 780-399-4138 I6 Sterling Place 9940-106 Street GWL Realty Advisors Carole Lajoie, 780-944-6221 GWL Realty Advisors Brent Peyre, 780-701-1104 198,007 14,515 12 1983 R4 Sun Life Place 10123-99 Street Bentall Kennedy (Canada) LP Nellie Boyer, 780-990-7010 Bentall Kennedy (Canada) LP Kevin Humphrys , 780-990-7008 280,585 11,411 25 1977 O3 TD Tower 10088-102 Avenue Oxford Properties Group Sean Graham, 780-426-8400 333,441 Oxford Properties Group Meghan Kinney, 780-426-8419 14,153 HR 13,706 LR 27 1976 P5 TELUS Tower North 10025 Jasper Avenue Triovest 780-990-1768 Triovest Marc Harden, 780-990-1768 420,48518,500 24 1970 P5 TELUS Tower South 10020-100 Street Triovest 780-990-1768 Triovest Marc Harden, 780-990-1768 716,759 23,700 33 1971 L3 The Boardwalk 10310-102 Avenue NewWest Enterprise Property Group Julie Piquette, 780-423-440 CB Richard Ellis Jeff Simkin, 780-424-5475 74,871 24,957 4 1910 O4 The Phipps McKinnon Building 10020-101A Avenue The Canapen Group Brad Smith, 780-420-4804 The Canapen Group Brad Smith, 780-420-4804 192,781 11,202 20 1977 H6 U of L Tower 10707-100 Avenue Keywest Capital Corporation Ted Kennedy 403-269-9797 84,000 6,552 13 1979 H6 WCB Building 9912-107 Street Workers Compensation Board Manuel Vervoorst 780-498-4874 153,233 Workers Compensation Board 780-498-4874 12,200 (varies) 9 1972 Q4 World Trade Ctr - Edm 9990 Jasper Avenue Humford Management Inc. Melissa Hutchings, 780-426-4960 Humford Management Inc. Melissa Hutchings, 780-426-4960 56,107 9,190 7 1960 Northam Realty Advisors Limited Judy Lucas, 416-977-7151 Office Area (sq. ft.) Cushman & Wakefield Edmonton Neil Smith 780-420-1177 Points of Interest (as indicated on map) POINTS OF INTEREST (as indicated on map) P2 City Hall 1 Sir Winston Churchill Square City of Edmonton Kim Israel, 780-496-6578 City of Edmonton Kim Israel, 780-496-6578 48,467 varies 3 1992 H3 Norquest College 10215-108 Street NorQuest College 780-644-6220 NorQuest College 780-644-6220 221,000 25,000 9 1971 Shaw Conference Centre 9797 Japer Avenue Edmonton Economic Dev Corp. Cliff Higuchi, 780-421-9797 Edmonton Economic Dev Corp. Cliff Higuchi, 780-421-9797 Varies 150,000 3 1983 Stanley A. Milner Library 7 Sir Winston Churchill Square Edmonton Public Library Board 780-496-6822 Edmonton Public Library Board 780-496-6822 61,500 20,500 6 1967 Q4 40 | Commercial Real Estate Guide 2013 / 14 Facts for the Future: • The High Wide Corridor linking the US to the Alberta Oil Sands is the only one of its kind. The corridor allows for an increase of 300,000 pounds to be transported, increasing highway width by 10 feet and length of transport vehicle to 100 feet. • According to the 2011 census release, the population of Greater Edmonton reached 1,159,869 persons, making it the sixth largest metropolitan region in Canada. • Port Alberta is an industry led transportation board which aims to combine air, rail and road transportation infrastructure at a single point through collaboration with Edmonton and Alberta based businesses, with future connections to the Port of Prince Rupert and the Port of Vancouver. • Alberta is home to the world’s second largest proven oil reserves. $141 billion has been committed to oil sands development. Port Alberta will be the staging ground. • There are 9 universities and colleges serving the area, with a total enrollment of nearly 150,000 full and part-time students, including distance learning. PREVENTATIVE MAINTENANCE SPECIALISTS • • • • • • • • Dedicated Preventative Maintenance Programs Dedicated Product Support Specialists 24/7 Fuel Polishing Services Trained in CSA 282-09 & ASTT Certified Custom Maintenance Packages Available Factory Trained Service Technicians Extensive Parts Inventory All Makes 1-800-374-6766 [email protected] www.bomaedmonton.org | 41 Suburban Survey Suburban office market currently offers few choices for larger tenants A bsorption of excess office space in suburban by the year’s end. The tightest sub-market in the city markets outpaced the introduction of was Kingsway/118th Avenue for the second year in a new supply in 2012, with the net effect of row, (1.7 per cent versus 4.0 per cent a year earlier). marginally reducing vacancy to 10.7 per cent. Total rates (asking rents plus occupancy costs) While downtown office sectors were in a seller’s were generally $25 to $35 per square foot in the market with vacancies around 6.9 per cent, some suburbs, versus up to $45 in downtown AA space. suburban markets were comparatively wide open, However, prospective tenants looking anywhere in especially Eastgate (15.6 per cent vacancy), 124th the suburbs for spaces of more than 20,000 square Street (14.4 per cent) and the West End (14.3 per cent). feet currently have only a handful of choices, unless Three new buildings opened in Sherwood Park in they are ready to wait until late 2013 or 2014 for new 2012, causing vacancy there to peak at 10.8 per cent construction to come into the market. Suburban Market Statistics Submarket Inventory (SF) Vacancy Rate 4Q12 Net Absorbtion (SF) 2012 TOTAL Absorbtion (SF) Sublease (SF) 118th Avenue 778,072 3.86% 2,235 11,218 0 124th Street 797,787 19.38% -5,428 12,637 10,142 149th Street 1,094,126 10.55% 358 51,279 0 Eastgate 1,019,37717.64% -3,188 -19,485 Southside 3,350,5069.70% 13,628 167,202 21,077 0 Whyte Avenue 568,761 8.87% 11,628 6,640 0 West End 1,502,319 10.57% 84,719 74,776 15,300 Suburban Total 9,110,948 11.13% 103,952 304,267 46,519 Edmonton Total 26,198,1039.31% 172,568 510,961 349,626 Source: Colliers Internationa 42 | Commercial Real Estate Guide 2013 / 14 Engineering www.rjc.ca Edmonton (780) 452-2325 Vancouver (604) 738-0048 Structural Engineering & Restoration Building Sciences & Inspections Parking Planning Victoria (250) 386-7794 Nanaimo (250) 716-1550 Calgary (403) 283-5073 Toronto (416) 977-5335 insight into EvEry Major MarkEt in north aMErica Our exclusive focus on direct real estate investment, experience in cross-border structuring, and “on-the-ground” expertise means Bentall Kennedy’s North American investment platform offers more — more depth, more knowledge and therefore more compelling investment opportunities for our clients. see for yourself at www.bentallkennedy.com or contact [email protected] MontrEal · Washington Dc · ottaWa · Boston · toronto · chicago · EDMonton · san Francisco · WinnipEg · Dallas · calgary · los angElEs · vancouvEr · sEattlE www.bomaedmonton.org | 43 44 | Commercial Real Estate Guide 2013 / 14 Celebrating 35 Years Facts for the Future: • Class-1 rail services provided by Canadian National (CN) and Canadian Pacific (CP) Railways offer seamless connections to major North American markets. Edmonton is home to CN’s western Canadian network operations centre. • CustomizedJanitorialPackages • GreenCleaningPrograms • Bonded&WHMISTrainedStaff • 7YearsCORSafetyCertified • BOMACertificationof CustomerServicesExcellence Cleaning for a Healthy Environment. 780-463-3735 free cleaning assessment www.westernmaintenance.com • With its strong ties to the City and Port of Prince Rupert, CN’s investment into the region, and gateway access to domestic and overseas markets, Greater Edmonton is poised to become a leading transportation and distribution hub and the strategic choice for global business. 3D Digital Documentation of “As Built” Realities by Laser Scanning for BIM models, Pre-construction Visualization, Progress Verification and more… www.bomaedmonton.org | 45 Suburban Survey Major Suburban Office Buildings - 124 Street Area Building Name Management Company Contact 1124 Street Place Leasing Company Contact Trans America Group Ltd Russ P / Derek W, 780- 486-3919 Trans America Group Ltd. 10235-124 Street 2 Beaufort Building 10835 - 120 Street Harvard Property Management Inc Laura Sharen 780-413-7060 3 Groat Estates I 12420-104 Avenue 4 Office Area No. of Floors Year Built (sq. ft.) 32,692 3 Russ P / Derek W, 780- 486-3919 3 1970 Impero Properties Corporation Pat Tymchuk , 780-488-3444 Impero Properties Corporation 43,208 3 Pat Tymchuk , 780-488-3444 1982 Groat Estates 2 12431 Stony Plain Road Impero Properties Corporation Pat Tymchuk , 780-488-3444 Impero Properties Corporation 17,488 Pat Tymchuk , 780-488-3444 3 1982 5Guardian Building 10240-124 Street Century West Management Inc. Mitchell Brody, 403-213-5543 Century West Management Inc. 82,109 Mitchell Brody, 403-213-5543 8 1975 12 1978 Cushman & Wakefield 81,455 10 Scott Vreeland, 780-420-1177 1974 DTZ Barnicke Edmonton Inc. 1976 6 Harley Court 10045-111 Street 7Ironwood Professional Ctr 10050-112 Street 8 Jasper Centre 11456 Jasper Avenue 9JE Place 10534-124 Street 11523-100 Avenue 780-702-3380 Liu and Associates Patricia Liu 780-429-1047 Parkington Plaza 10408-124 Street 13Place 123 12315 Stony Plain Road 14Plaza 124 15Princeton Place 10339-124 Street 16Solar Court 10350-124 Street 17Stantec Centre 10160-112 Street 18West Chambers Building 12220 Stony Plain Road 19Westcor Building 12323 Stony Plain Road 46 | 3 1965 72,106 4 Dave Schultz, 780-428-7850 1912 Impero Properties Inc. Impero Properties Inc. 55,038 5 Pat Tymchuk , 780-488-3444 Pat Tymchuk , 780-488-3444 1970 Dundee Realty Management Corporation 780-423-4800 Crystal Lehoux, 780-423-4800 Dave Ball, 780-423-6931 Stacy Elliot, 780-426-4960 Paul Maire, 780-969-2988 21,834 Dave Schultz, 780-428-7850 Dundee Realty Management Corp 28,384 Sidney Waskiewich, 780-801-3872 2 1975 Dundee Realty Management Corp 156,630 7 Sidney Waskiewich, 780-801-3872 1983 Melcor Developments 1971 49,500 7 Pat Melton 780-423-6931 DTZ Barnicke Edmonton Inc. Colliers International 19,875 Patricia Liu 780-429-1047 1978 Humford Management Inc 43,000 4 Cody Lowry 780-421-1488 Avison Young Melcor Developments 161,204 Jon Zukiwsky, 780-444-8740 2 Susan Osterloh, 780-426-4960 Dundee Realty Management Corporation 31,276 Avison Young Humford Management Inc. 12 Laura Sharen, 780-413-7060 Strategic Group Liu and Associates Harvard Property Management Inc. 103 10 - 124 Street 10216-124 Street Ralph Friederichsen, 780-424-1475 Martello Properties 11Nelson Building Jon Zukiwsky, 780-444-8740 Ironwood Management Ltd. 10LeMarchand Mansion Strategic Group Harvard Property Management Inc Tony Prsa 780-413-7060 1975 27,200 Chad Brennand, 780-421-1488 2 Occupied by 206,000 7 Stantec Inc. 1962 1978, 1980, 2003 Dundee Realty Management Corporation Dundee Realty Management Corp Crystal Lehoux Sidney Waskiewich, 780-801-3872 86,400 6 1978 Melcor Developments 58,300 7 1978 Dave Ball, 780-423-6931 Commercial Real Estate Guide 2013 / 14 Melcor Developments Pat Melton, 780-423-6931 Suburban Survey Major Suburban Office Buildings - 118 Avenue/ Kingsway Area Building Name Management Company Contact Leasing Company Contact 82nd Street Building 11713-82 Street 2 Administration Building 11230-110 Street 3 Circle Square 11808 St Albert Trail Jon Zukiwsky, 780-444-8740 HYS Centre 11010-101 Street Northwest Healthcare Properties 780-702-5896 Kingsway Garden Mall 109 St & Princess Elizabeth Ave Kingsway Professional Centre 10611 Kingsway Avenue 1 4 5 6 7 8 Mira Health Centre 11910-111 Avenue 15823 - 97 Street 11 Nexus Business Park 14315-118 Avenue 13 14 15 North City Centre 140th Avenue & 133 Street Stanley Building II 11748 Kingsway Avenue 25,000 3 1974 39,824 3 1983 147,442 7 1980 3 1976 6 1980 Chad Brennand, 780-421-1488 39,377 Tammy Abbott 780-479-5955/780-426-8411 73,410 780-414-8888 Workers Compensation Board Manuel Vervoorst, 780-498-4874 71861 2 2002 780-498-4874 NorthWest Healthcare Properties Corp Tracy Hume, 780-702-5896 Northwest Healthcare Properties Corp 67,012 Shelly Fedorak 780-702-5896 Ext 53 1 1992 Delcon Development Group Ltd. 780-423-4321 Delcon Development Group Ltd. 780-423-4321 15,745 2 2011 Delcon Development Group Ltd. 780-423-4321 15,570 2 2010 Nearctic Group Owners & Managers 120,500 (3 b) 1 1977, 1978 20,000 2 2010 41,108 Chuck Clubine, 780-669-4747 3 5 1969 19,000 2 1968 20,000 2 1968 Guy St. Germain, 780-414-1700 K2 Property Management Kevin or Kathy W, 780-474-5233, 903-3722 David Ball, 780-423-6931 Chad Boddez, 780-420-1585 The Trikon Group Melcor Developments Melcor Developments David Ball, 780-423-6931 Guy St. Germain, 780-414-1700 Colliers International Randy, 780-476-4063 Melcor Developments 1973 Chad Boddez, 780-420-1585 ProCura Real Estate Services Ltd. 780-414-8888 Artis Reit 3 Oxford Retail Group Nearctic Group Owners & Managers Edmonton Oilers 780-414-4400 DTZ Barnicke Edmonton Inc. 780-423-4321 20,416 Tilda Ferguson, 780-424-7722 Colliers International Susan Denney, 780-479-5955 Delcon Development Group Ltd. Royal Alex Place 10106-111 Avenue Stanley Building I 11810 Kingsway Avenue Edmonton Oilers 780-414-4400 Workers Compensation Board 15961 - 97 Street ProCura Real Estate Services Ltd. 12 Tilda Ferguson, 780-424-7722 Oxford Retail Group 10Namao 160 Canadian Urban Limited Strategic Group Millard Health 131 - Airport Road 9Namao 158 Canadian Urban Limited Office Area No. of Floors Year Built (sq. ft.) Pat Melton, 780-423-6931 Melcor Developments Pat Melton, 7780-423-6931 www.bomaedmonton.org | 47 Suburban Survey Major Suburban Office Buildings - 149 Street Area Building Name Management Company Contact Leasing Company Contact Office Area No. of Floors Year Built (sq. ft.) 1 149 Street Business Centre Edie and Associates Edie and Associates 42,000 14964 - 121A Avenue 780-488-3030 Alan E / Wade W, 780-488-3030 (3 buildings) 2 AMMSA Building AMMSA AMMSA 24,410 2 1977 13245-146 Street 780-455-2700 Herman Fernandez, 780-455-2700 3 Coronation Plaza Shamrock Property Management Cushman & Wakefield Edmonton 120,408 5 1981 14310-111 Avenue David Benjestorf, 780-453-5631 Dustin Bateyko, 780-420-1177 (2 towers 17,000 2 1998 26,752 3 1979 49,200 2 1978 43,160 4 1969 100,000 1 1963 152,606 2 1978/1999 4Edmonton W Business Park Ph 8 Chester Developments Ltd. Chester Developments Ltd. 12004-12040 149 Street Tom Burke, 780-719-4114 Tom Burke, 780-719-4114 5 High Park Corner 14 925-111 Avenue Humford Management Inc. Susan Osterloh, 780-426-4960 NAI Commericial Chad Snow 780-436-7410 6Klondike Centre Key West Realty and Property Mgmt. Key West Realty & Property Mgmt. Barry Wade, 780-483-5666 780-483-5666 - Ext 226 11066-156 Street 7Meadowlark Place Prof Ctr CB Richard Ellis 8708-155 Street 8 Meadowlark Health & Spg Ctr 156 Street and 87 Avenue 149-151 Street and 123 Avenue 13140 St Albert Trail 13151-146 Street 14727-87Avenue 9509-156 Street Dave Ball 780-423-6931 NewWest Enterprise Property Group MS (Peggy) Craner, 780-423-4400 15Westgrove Professional Bldg Interpro Property Corp Bob Proznik, 780-482-6464 Ext 222. 10230-142 Street 48 | Commercial Real Estate Guide 2013 / 14 1976 38,000 2 2006 83,000 3 1980 18,295 3 1978 49,434 3 1973 44,886 4 1980 Dennis Herbut, 780-420-1177 Cushman & Wakefield Edmonton 1 Pat Melton, 780-423-6931 Cushman & Wakefield Edmonton Randy Treasure, 780-452-4405 84,000 Sidney Waskiewich, 780-801-3872 Melcor Developments (varies) Sidney Waskiewich, 780-801-3872 Dundee Realty Management Corp TX4 Investments Ltd. 14West End Medical & Prof Garry Jones 780-486-3919 Chad Boddez, 780-420-1585 Dundee Realty Management Corp Melcor Developments 13220 St Albert Trail 13Treasures Insurance Trans America Group Ltd. 12Trail Business Centre Crystal Lehoux, 780-423-4800 Jon Zukiwsky, 780-444-8740 Colliers International Dundee Realty Management Corp 11St. Albert Trail Place Krista Halvorsen, 780-420-1585 780-424-5475 Strategic Group. Jon Zukiwsky, 780-444-8740 Colliers International 10St. Albert Trail Centre Strategic Group 9Parkwest Business Centre 780-424-5475 CB Richard Ellis 1, 2 1981 Shane Asbell, 780-993-0082 DTZ Barnicke Edmonton Inc. Cody Lowry 780-421-1488 Suburban Survey Major Suburban Office Buildings - West End Area Building Name Management Company Contact 1A.U.P.E. Building 10451-170 Street 2Belmead Professional 8944-182 Street 3Callingwood Professional Centre 6655-177 Street 4Cardinal Building 17205-106A Avenue 5Centre 170 10403-172 Street 6Centurion Plaza 10335-172 Street 7 Ford Credit Building 17187-114 Avenue 8Imperial Deluxe Leasing Company Contact A.U.P.E. Bill Dechant, 780-930-3302 Darlington Properties Inc. 780-490-1100 Centrecorp Management Services Limited Brad Metcalfe, 780-435-1444 Humford Management Inc. Justin Rudyk, 780-426-4960 NewWest Enterprise Property Group MS (Peggy) Craner, 780-423-4400 Humford Management Inc. Susan Osterloh, 780-426-4960 Morguard Investments Limited Glen Scheuerman 780-421-8000 Imperial Deluxe Properties Inc. Sam Halabi, 780-484-2228 Office Area No. of Floors Year Built (sq. ft.) A.U.P.E. Bill Dechant, 780-930-3302 64,350 3 1982 36,580 3 1980 Centrecorp Management Services Ltd 30,000 Brad Metcalfe, 780-435-1444 3 1985 Darlington Properties Inc. Martin Schultz, 780-490-1100 Avison Young 31,000 2 1979 Colliers International 176,292 3 1980 Humford Management Inc. 39,932 3 1979/1980 Morguard Investments Limited 82,176 2 2000 Imperial Deluxe Properties Inc. Sam Halabi, 780-484-2228 154,217 2 (6 buildings) varies Telsec Group Sean Flathers, 403-203-3000 63,000 3 2008 55,269 4 1979 Dave Schultz, 780-428-7850 Ian Bradley 780-420-1585 Susan Osterloh, 780-426-4960 Mike Verhoski 780-421-8000 176-178 Street & 103-105 Avenue 9 Jayman Building 5093 Windermere Boulevard Mayfield Business Centre 10525-170 Street 11 Mayfield Square I 10464 Mayfield Road Edie and Associates Al Edie, 780-488-3030 Edie and Associates Al Edie, 780-488-3030 40,000 2 1979 12 Mayfield Square II 10458 Mayfield Road Edie and Associates Al Edie, 780-488-3030 Edie and Associates Al Edie, 780-488-3030 40,000 2 1979 13 Plaza West 17704-103 Avenue Plaza West Properties Ltd. Sonia Dechant, 780-487-5157 Avison Young 36,561 2 1980 Avison Young 36,177 2 1978 Colliers International 32,925 2 1980 Melcor Developments 69,314 2 1983 10 14Quikcard Centre Colliers International 780-420-1585 Canadian Urban Limited Tilda Ferguson, 780-424-7722 Humford Management Inc CB Richard Ellis Jeff Simkin 780-424-5475 Peter Schwann, 780-428-7850 17010-103 Avenue 15 Ricoh Building 16011-116 Avenue Sterling Business Centre 17420 Stony Plain Road 17 U.M.A. Building 1 17007-107 Avenue UMA Group 780-486-7000 UMA Group 780-486-7000 41,320 3 1979 18U.M.A. Building 2 UMA Group 780-486-7000 UMA Group 780-486-7000 27,241 2 1979 Remington Development Corp. 118,884 3 2013 Melcor Developments 64,436 1 1979/ 1981 16 17107-107 Avenue 19 West Campus 18817 Stony Plain Road 20 Westgate Business Park 102 Avenue and 178 Street Susan Osterloh, 780-426-4960 Colliers International Kimberlie Garraway, 780-420-1585 Melcor Developments Brandon Park, 780-423-6931 Remington Development Corp. Colin Clish, 780-413-8266 Melcor Developments Brandon Park, 780-423-6931 Peter Schwann, 780-428-7850 Phil Goh, 780-420-1585 Pat Melton, 780-423-6931 Ramona Meixner, 403-255-7003 Pat Melton, 780-423-6931 www.bomaedmonton.org | 49 Suburban Survey Major Suburban Office Buildings - Whyte Avenue Area Building Name Management Company Contact 1Campus Tower 8625-112 Street 2 College Plaza 8215-112 Street 3 Garneau Professional Centre 11044-82 Avenue 4 Plaza 82 10504-82 Avenue 5 Strathcona Professional Centre 10328-81 Avenue Midwest Property Management 780-420-4040 Westcorp Properties Inc. 780-431-3305 Leasing Company Contact NorthWest Healthcare Properties 780-702-5896 Midwest Property Management 36,589 3 1970 Westcorp Properties Inc. Jonathon Milroy,780-431-3304 207,701 21 1974 57,634 5 1978 22,338 4 1975 53,328 3 1980 Rae Makerowski , 780-420-4046 NorthWest Healthcare Properties Jason Shantz, 780-702-5896 - Ext 53 Delcon Development Group Ltd. Delcon Development Group Ltd. 780-423-4321 780-423-4321 C.A. Property Management Alfred Mah, 780-719-2839 Office Area No. of Floors Year Built (sq. ft.) C.A. Property Management Alfred Mah, 780-719-2839 Major Suburban Office Buildings - Southside Area Building Name 1 2 Management Company Contact Alberta Municipal Place 8616 – 51 Avenue Humford Management Inc. Melissa Hutchings, 780-426-4960 Leasing Company Contact 62,000 3 Renovated 2010 1985 66,345 5 1990 7,923 9,088 7,230 2 2 2 1972 1976 1975 Standard Life Assurance Co of Canada 8 1975 Chad Brennand, 780-421-1488 AMA Building 10310-39A Avenue 3 Centre 51 South - 9731-51 Ave Centre 51 West 9750 - 51 Ave Morguard Investments Ltd. Morguard Investments Ltd. Mike Verhoski, 780-421-8000 Centre 51 West 9730 - 51 Ave Glen Scheuerman, 780-421-8000 4 Centre 104 5241 Calgary Trail Northwest 5 AMA Bob Sage, 430-5740 DTZ Barnike Edmonton Inc. SNC-Lavalin O & M Ana Julio, 780-399-4138 Office Area No. of Floors Year Built (sq. ft.) AMA Bob Sage, 780-430-5740 75,855 Darrin Geddes, 780-944-1152 Commerce South Office Park 86 Street & 51 Avenue Bentall Kennedy (Canada) LP Bentall Kennedy (Canada) LP 1–3 1990/2007 (4 Bldgs) 6 Elm Business Park 9426-51 Avenue NewWest Enterprise Property Group Cushman & Wakefield Edmonton 1-4 2009 (4 Bldgs) EMC2 Building 6020-104 Street Artis Reit Artis Reit 28,520 3 1980 Gateway Blvd (Argyll Ctr) 6325 Gateway Boulevard Berezan Management Ltd. 91,000 1 1975 Greystone Office Park 97 Street & 42 Avenue Morguard Investments Limited 104,072 2 1981 7 8 9 10 Nellie Boyer, 780-990-7010 Julie Piquette, 780-423-4400 Lorraine Miller, 780-476-4064 Berezan Management Ltd. Kathryn Atlas, 780-440-6500 Morguard Investments Limited Glen Scheuerman, 780-421-8000 289,551 Kevin Humphrys 780-990-7000 157,881 Shane Asbell, 780-993-0082 Kalen Morton, 403-705-3527 Kathryn Atlas, 780-440-6500 Mike Verhoski, 780-421-8000 Karst Building 1420 Parson Road Karst Property Management 780-425-6905 DTZ Barnike Edmonton Inc. 29,000 2 2009 11Kingsdale Professional Centre Servis Realty Inc. 780-415-5414 NAI Commericial Chad Snow 780-436-7410 39,176 2 1978 50 9644-54 Avenue | Commercial Real Estate Guide 2013 / 14 Chad Brennand, 780-421-1488 Suburban Survey Major Suburban Office Buildings - Southside Area (cont’d) Building Name Management Company Contact Leasing Company Contact Office Area No. of Floors Year Built (sq. ft.) 12 Lange Centre 10335-61 Avenue Lange Realty Gordon Lange, 780-437-0450 Lange Realty Gordon Lange, 780-437-0450 52,000 1 1976 13 McIntyre Centre 1 4804-89 Street McIntyre Centre Limited Cal Phare, 780-462-5311 McIntyre Centre Limited Lesley Wabisca, 780-462-5311 23,996 1 1979 14 McIntyre Centre 2 8657-51 Avenue McIntyre Centre Limited Cal Phare, 1-866-334-1262 McIntyre Centre Limited Lesley Wabisca, 780-462-5311 27,552 3 1979 15 McIntyre Centre 3 5008-86 Avenue McIntyre Centre Limited Cal Phare, 780-462-5311 McIntyre Centre Limited Lesley Wabisca, 780-462-5311 22,960 2 1979 16 Milbourne Office Towers 38 Avenue & Millwoods Road Interpro Properties Corporation 780-447-7102 Cushman & Wakefield Edmonton 42,968 3 1978, 1982 Avison Young 47,373 3 1989 DTZ Barnike Edmonton Inc. 40,548 2 1989 17 18 19 20 21 Millwoods Towne Ctr Prof Bld 6203-28 Avenue Ivanhoe Cambridge Connie Nesbitt, 780-440-8485 Alberta Permit Pro Inc. Rick Kerscher, 780-430-3716 PCL Business Park 54 Avenue & 99 Street Princeton Developments Ltd. 780-423-7775 Princeton Developments Ltd. 780-423-7775 92,020 2 1978 Pleasantview Prof. Building 11044-51 Avenue H.J. Rebman Harold Rebman, 780-438-6976 H.J. Rebman Harold Rebman, 780-438-6976 24,000 4 1973 Berezan Management Ltd 26,700 2 1981 Colliers International 50,375 3 1979, 2004 Colliers International 31,506 1 1980 35,326 3 1982 Colliers International 75,300 1 1977 Strategic Group 43,409 2 1986 Berezan Management Ltd. 142,472 8 1971 BLDG Services Group Inc. BLDG Services Group Inc. 74,560 3 2008 SNC-Lavalin O & M Ana Julio, 780-399-4138 Standard Life Assurance Co of Canada 121,512 9 1979 Morguard Investments Limited 3 1980 Point 51 9004/9090 51 Avenue Kathryn Atlas, 780-440-6500 Reliance Building 4209-99 Street Bedford Properties Corp. Larry Woolsey, 780-983-6066 23 Richfield Building 31 Avenue and Parsons Road Interpro Properties Corporation 780-447-7102 24 Springwood Court 4220-98 Street Redding Management & Realty Ltd. 780-463-6475 Sprucewoods Business Park 8905-8925 51 Avenue 26 Tawa Centre 3017-66 Street Terrace Office Tower 4445 Calgary Trail South 25 27 28 29 30 Peter Schwann, 780-428-7850 Omni Centre 9636-51 Avenue 22 Dustin Bateyko, 780-702-4257 Berezan Management Ltd Colliers International Danny Nguyen, 780-420-1585 Strategic Group Jon Zukiwsky, 780-444-8740 Berezan Management Ltd. The Steppes 1253 & 1259 - 91 Street SW Weber Centre 5555 Calgary Trail Northwest Whitemud Business Park 4245-97 Street Kathryn Atlas 780-440-6500 780-757-8015 Morguard Investments Limited Glen Scheuerman, 780-421-8000 Chad Brennand, 780-421-1488 Kathryn Atlas, 780-440-6500 Ian Bradley, 780-420-1585 Ian Bradley, 780-420-1585 Redding Management & Realty Ltd. 780-463-6475 Chad Boddez, 780-420-1585 Jon Zukiwsky, 780-444-8740 Kathryn Atlas 780-440-6500 780-757-8015 Darrin Geddes 780-944-1152 107,530 Mike Verhoski, 780-421-8000 www.bomaedmonton.org | 51 Suburban Survey Major Suburban Office Buildings - Eastgate Area Building Name 1 Management Company Contact Leasing Company Contact 50th Street Atria 9405-50 Street Highfield Place Inc. 780-423-2000 2 50th Street Place 8170-50 Street 50th Street Place Ram Singh, 780-440-9000/554-4250 3 Capilano Centre 9945-50 Street Eastgate Building 9311-48 Street Edmonton Sun Building 4990-92 Avenue 6 Febtro Centre 9440-49 Street Servis Realty 780-415-5414 7 Former ARC Building 5104- 82 Avenue Nelson Properties Doug Nelson, 780-466-0439 8 Parkwood Office Centre 9343/9353/9363-50 Street 4 5 9 Brandon Park, 780-423-6931 Strategic Group Jon Zukiwsky, 780-444-8740 Berezan Management Ltd Kathryn Atlas, 780-440-6500 Strategic Group Twin Atria 4999-98 Avenue Avison Young Melcor Developments Jon Zukiwsky, 780-444-8740 Triovest Office Area No. of Floors Year Built (sq. ft.) Marc Harden, 780-990-1768 169,440 50th Street Place 60,000 Ram Singh, 780-440-9000/554-4250 • Housing in Edmonton remains among the most affordable of any major Canadian city. Housing options include single-detached houses in new and mature neighborhoods, downtown lofts and condos, and acreage properties within the surrounding area. • A young, educated labour force of over 700,000. • 10 post-secondary institutions with 150,000+ students. 52 52 | 2 1978 98,456 5 1978 Strategic Group 27,000 2 1978 Berezan Management Ltd 103,131 3 1983 Western Law Group Ltd. Crystal Lansperg, 780-450-2929 27,072 2 1978 Nelson Properties Doug Nelson, 780-466-0439 20,000 2 1980 Strategic Group 41,615 1 1978 Triovest 371,663 41982 Pat Melton, 780-423-6931 Jon Zukiwsky, 780-444-8740 Kathryn Atlas, 780-440-6500 Jon Zukiwsky, 780-444-8740 Marc Harden, 403-355-3396 • Northern Alberta Institute of Technology (NAIT) is on track to being Canada’s largest technical school, training more apprentices than any other institution in Canada, with 95% employability rate. • Edmontonians experience a higher per capita disposable income than the national average and higher than Canada’s largest centres, Toronto and Vancouver. • The region has two dominant seasons: winter averages 121 days, and summer averages 111 days. The transition seasons are shorter; fall averages 70 days while spring averages 63 days. Commercial Real Estate Guide 2013 / 14 1982 Melcor Developments Facts for the Future: • Ranked among the Top 10 Large American Cities of the Future in Economic Potential and Business Friendliness (Foreign Direct Investment Magazine, April 2013). 3 Cory Wosnack, 780-428-7850 Signature Creative. TIme after time. E d m o n t o n 780.919.9346 V a n c o u ve r 604.828.1485 Local exposure. GLOBAL REACH. Become a BOMA Edmonton member today A world of opportunity is at your fingertips. Expand your business with an ad in the 2014 BOMA Edmonton Commercial Real Estate Guide. Call us today. 780.428.0419 BOMA Edmonton would like to Congratulate all the 2013 Winners Bell Tower • Managed by Aspen Property Management Ltd. T oby A w a r d – 2 5 0 , 0 0 0 – 4 9 9 , 9 9 9 s q ft C at e g o r y Commerce Place • Managed by GWL Realty Advisors Inc. T h e B oma B e s t A w a r d Aspen Property Management Ltd. B u i l d i n g O p e r at i ons T e am of T h e Y e a r A w a r d Oxford Properties Group Inc. P r o p e r ty M ana g e m e nt T e am of t h e Y e a r A w a r d Bell Tower • Managed by Aspen Property Management Ltd. 101 Street Tower • Managed by Aspen Property Management Ltd. Edmonton Remand Centre • Managed by SNC Lavalin O&M Enbridge Tower • Managed by Bentall Kennedy (Canada) LP Canadian Western Bank Place • Managed by Bentall Kennedy (Canada) LP Enterprise Square • Managed by Bentall Kennedy (Canada) LP C e r t i f i cat i on of B u i l d i n g E x c e ll e nc e A w a r d Scandinavian Building Services Ltd. • Paladin Security Group Ltd. C e r t i f i cat i on of C u stom e r S e r v i c e E x c e ll e nc e A w a r d Westmount Store Fixtures P i nnacl e A w a r d fo r C u stom e r S e r v i c e Bee-Clean Building Maintenance Inc. P i nnacl e A w a r d fo r Inno v at i on Manasc Isaac P i nnacl e A w a r d fo r A bo v e & B e yon d t h e C all of D u ty The City of Edmonton B oma E d monton M e mb e r of T h e Y e a r A w a r d Industrial Survey Continued strength for blue collar properties T he busiest sector in commercial real estate properties. At the end of 2012, vacancy rates stood in the Edmonton region continues to be around two per cent and availability around five per its industrial parks, where for several years cent. builders haven’t been able to keep up with demand This blue collar-driven sector is shaped by from purchasers and tenants. Last year, 3.3 million resource development in northern Alberta and the square feet of industrial space were finished and mix of tenants and purchasers reflects Edmonton’s quickly absorbed. It was the third year in a row role in manufacturing, fabrication and logistics for that absorption exceeded new supply. Demand the oil sands – both new projects and for the ongoing continued unabated, especially for state-of-the-art supply and maintenance of existing facilities. Lease Rates vs. Oil $120 $12 Market Average Rental Rates Market Average Op. Cost WTI-Cushing (USD / Barrel) Annual Average 56 $3.40 $8.80 $3.25 $8.75 $3.00 $8.25 $3.00 $8.25 $2.75 $9.50 $2.25 $9.25 $0 $2.10 $20 $7.10 $2 $1.95 $40 $4.40 $4 $1.95 $60 $4.30 $6 $1.85 $80 s t a y o n t r a c k$0 2003 200420052006200720082009201020112012 | Commercial Real Estate Guide 2013 / 14 USD / Barrel $100 $8 $4.25 $ psf $10 Industrial Areas Construction of the $5.7 billion first phase of the North West Redwater project, a bitumen-to-diesel refinery in Sturgeon County that will include carbon capture technology, will be a high-profile project throughout the region from 2013 through 2016. It already has contributed substantially to demand for large industrial properties. Over the past three years, even as six million square feet of new industrial spaces were rushed to market, the region saw gains in rents in the eight per cent range. Large industrial locations are difficult to find, while rail-fronting land is especially scarce. Flexible tenants who can take on and upgrade older properties have more choices available. With its concentration of oil and gas-related industries, Leduc-Nisku buildings on 91 acres of Northport Rampart Business Park. Business Park. has the highest asking prices in Industrial buildings with large the region for most categories; the yards continue to be in tight supply. Sales of industrial land for future overall average was about $12.60 per Prices above $1.25 a square foot development suggest no slowdown square foot. That area experienced an were reported for yard space. For is imminent. Twenty-six acres along increase of speculative building. state-of-the-art property near the highways 2 and 19 in Nisku were sold CN Intermodal yard in northwest in October 2012 for $12 million, while of new projects are expected to Edmonton, Properties 7.6 acres in High Park Industrial in come online in the next year in west Industrial Group paid $67.85 million northwest Edmonton changed hands Edmonton developments such as for 327,600 square feet in two Another 1.5 million square feet Oxford for $650,000 per acre in November. www.bomaedmonton.org | 57 Go to town. sub urban village shopping JUST A FEW OF THE EXCITING REASONS TO VISIT CURRENTS Cineplex Odeon & VIP Cinemas Wine & Beyond Safeway Canadian Tire Home Depot Cabela’s Tim Hortons Swiss Chalet Walmart COMING SOON... Tutti Frutti Frozen Yogurt Pet Planet Sangster’s Health Centre Chatters Salon Great Clips Jugo Juice 5-Star Tailor & Drycleaning Timeless Beauty Medical Aesthetics Spa shopcurrents.ca Investment Survey Low yields for other assets helps drive investor demand for commercial real estate T he demand for commercial real estate $24.2 million West Chambers Building sale in the in Edmonton has been driven for the suburban office market, the $44.6 million Wellington past several years by Alberta’s excellent Court deal in the rental apartment market, the $83.8 economic picture, low yields for other asset classes million Northport Business Park sale in the industrial such as stocks and bonds, and the need by private sector, and the $51 million sale of the Namao 160 capital, pension managers and REITs to put their power centre in retail. The sale of a one-half interest money to work. As in previous years, demand for in Southgate Centre for $245 million in the first half investment properties in the Edmonton region has was the largest transaction of the year. been strong. However, the number of deals closed Across the property classes, Edmonton typically has been limited because many owners see no has the lowest capitalization rates (i.e. return on reason to sell investment-grade properties in this investment) of major Canadian cities other than environment. Toronto, Vancouver and Calgary. Low cap rates are Major transactions in the second half of 2012 partly a function of low interest rates, but they also can included the sale of the Standard Life Centre for be seen as a positive indicator that investors expect $138.4 million in the downtown office market, the incomes and property values to rise. According to Market Statistics Market Inventory SF (Millions) Sales Volume (Millions) Number of Transactions Average Price (psf) 20122011 20122011 20122011 Downtown Office 17.09 $180.95 $542.46 4 11 $346.77 $272.91 Suburban Office 9.21 $188.64 $185.54 19 17 $230.00 $255.82 Industrial 98.68 $442.92 $540.19 91 119 $155.00$133.00 Retail 30.50 $644.98 $410.55 46 40 $400.00$231.00 Source: The Network Colliers International 60 | Commercial Real Estate Guide 2013 / 14 Top Sales Transactions 2012 Building Asset Type Building Size (sf) Price Southgate Shopping Centre Retail 941,067 $264,500,000 Standard Life Centre Office 390,266 $138,400,000 Industrial 327,600 $67,850,000 Oxford Property Namao Retail 108,205$51,000,000 Village Landing (St. Albert) Retail 150,054 $44,565,000 Source: The Network Sectors to watch in 2013-14 include hotels and those with 101 to 175 rooms are end of 2012 cap rates in Edmonton stood at: downtown office, where one or possibly the most in demand. A new downtown hotel • Downtown office: stable at 5.85% to two significant new developments could could be announced, either as part of the be announced. As well, Edmonton is ranked arena development or elsewhere. Colliers International’s quarterly survey, at the 7.50% • Suburban office: stable at 6.25% to 7.75% as one of the three most desirable cities for Across all sectors, deal velocity has the • Industrial: stable at 6.25% to 7.0% investments in the economically sensitive potential to pick up into 2013-14, especially • Retail: stable at 5.75% to 7.0% hotel business in 2013, along with Calgary if economic conditions or long-term interest • Multi-family: falling at 5.0% to 6.75% and Ottawa. Colliers reports that downtown rates change. BUILDING SOLUTIONS Facts for the Future: • Edmonton has a northern midlatitude climate with very long summer days and up to 2,300 hours of sunlight per year (up to 17 hours per day). TO SUPPORT COMMERCIAL GROWTH THAT ENHANCES WHERE WE WORK, LIVE, AND PLAY. We provide professional consulting services for tenant improvement and building operations and maintenance. Our services include architecture, interior design, facilities planning and operations, energy and water audits, LEED and BOMA BESt accreditations, commissioning, and structural, mechanical, and electrical engineering. • Edmonton’s river valley is North America’s largest urban park space, 22 times larger than Central Park in New York. • The Province of Alberta and the City of Edmonton offer the best overall operating costs in the form of low taxes. No tax abatement programs, infrastructure development or real estate fit-out assistance programs are offered. Learn more at www.stantec.com. AD-DA-EDM-2013FEB20-P1V1 One Team. Infinite Solutions. www.bomaedmonton.org | 61 any way you slice it... Cushman & Wakefield Edmonton are the city’s leading commercial real estate brokers and consultants. We offer unparalleled local market intelligence, global resources, and world-class service. Building on over 32 years of success, the company is wholly owned by its 21 partners and employs a team of professionals highly skilled in retail, industrial, commercial and investment properties. Whether you are already in the market, or just entering the market, our solutions will sharpen your competitive edge in Edmonton and around the world. OFFICE RETAIL INDUSTRIAL INVESTMENT multi-family 62 | Commercial Real Estate Guide 2013 / 14 www.cushmanwakefield.com www.cwedm.com Edmonton: 780•420•1177 Multi-family / Apartment Survey Migration to city causes surge in demand for rental housing E dmonton continues to experience a strong market for rental housing, driven by growing employment and net inbound migration of more than 46,000 people to the city over the past two years. As a result, apartment vacancies decreased by one percentage point in 2012 to 1.7 per cent citywide, lower than in 2008. Vacancies are even tighter in many surrounding Market Statistics - (October 2012) Vacancy Vacancy Market Rate 2012 Rate 2011 Average Bachelor ($/mth) Average 1 Bedroom ($/mth) Average 2 Bedroom ($/mth) Average 3 Bedroom ($/mth) Downtown 1.4% 3.2% $768 $929$1,190 $1,382 Hudson Bay Reserve 3.6% $773 University 0.7% 1.3% $824 $940$1,216 $1,179 West Central 2.9% 4.5% $644 $810 $971 $1,195 Jasper Place 2.0% 4.5% $678 $818 $981 $1,185 West Jasper Place 0.6% 2.8% $781 $973 $1,144 $1,308 South West 0.7% 1.2% $831 $962 $1,112 $1,263 East Central 1.5% 2.1% $729 $828 $986 $1,186 Millwoods 0.8% 1.3% $705 $876$1,091 $1,285 North Central 3.6% 6.5% $640 $781 $903 $1,078 North East 1.8% 4.8% $649 $871 $1,026 $1,161 Castledowns 0.9% 2.6% $656 $859 $981$1,197 St. Albert 0.9% 0.5% - $941 $1,087 $1,230 Survey Market Average 1.7% 3.3% $742 $882 $1,071 $1,216 3.2% 708 859 1,012 1,195Source: CBRE Survey Market Average 5.3% $636 $975 $1,041 www.bomaedmonton.org | 63 Local membership. GLOBAL OPPORTUNITY. Become a BOMA Edmonton member today! Application available through BOMA Edmonton or online NETWORK GROW • Meet other industry professionals and socialize at local, • Be recognized for industry excellence through the BOMA • Access decision makers through the online Membership • Participate in local committees that are relevant to the national, and international events. Directory. Edmonton Awards program. commercial real estate industry as well as projects that support local events and charities. LEARN • Hear informative speakers on topical issues related to business worldwide. • Enroll in educational programs including property management certification, seminars and workshops, as well as tours and forums. CONNECT • Be part of a strong and united voice in lobbying on issues affecting the industry at municipal, provincial and federal levels. • Stay current on information effecting industry standards and trends around the world. 64 | Commercial Real Estate Guide 2013 / 14 communities, particularly Leduc (0.4 per Mutifamily Vacancy Rate (Edmonton CMA) cent), St. Albert (0.9 per cent) and Strathcona 6% County (1.0 per cent). Rents rose 6.0 per cent to a recordsetting $1,070 for a two-bedroom apartment, 1.5% 2% 2.3% 3% 1.7% 2.4% 4% with high-quality suites in new buildings 3.2% 3.7% 4.5% 5% commanding a premium of $200 to $400 per month. Incentives to attract new tenants are largely a thing of the past. Other factors prevented even greater rental increases: secondary suites in single- 1% family homes, condominium owners renting 0% 2007200820092010201120122013* * Forecast out their properties and low interest rates encouraging renters to become first-time homeowners. Nevertheless, rents in multifamily buildings are continuing to rise in 2013. With the exception of 2009, rents in Edmonton have risen every year since 1995. Multifamily Total Sales Volume (millions) For investors purchasing multifamily properties, the average price per suite rose $925 $1,000 briskly to $130,000 in 2012 from $107,000 $800 in 2011. Prices for buildings with 40 or more units were highest, $163,000 per unit, while $600 buildings with less than 40 suites were priced $233 $118 $186 $122 $200 $182 $400 at $92,000 per unit. By CMHC count, only 1,400 new rental apartments were built in 2012, but a flurry of new starts and completions should build into $0 200720082009201020112012 Source: The Network 2013, when forecasts call for slightly higher vacancy rates. Facts for the Future: • Edmonton Economic Development Corporation works with the local real estate community to offer a complimentary site selection service. Colleges and Universities provide specialized training programs to companies. • Stollery Children’s Hospital is western Canada’s referral centre for pediatric cardiac surgery and national leader in organ transplant. • Edmonton boasts world-class performance venues, museums and art galleries. • The city hosts 30+ year-round festivals devoted to music, theatre, visual arts and cultural diversity. • University of Alberta provides scholarships, awards and bursaries totaling over $69 million. Source: The Network www.bomaedmonton.org | 65 Stands above the rest Rising 36 storeys in downtown Edmonton, Manulife Place stands proudly as the city’s tallest building. With 862,000 sq. ft. of first class office space and two levels of exclusive retail, it is the largest, and undoubtedly, the premier complex in Edmonton. Complementing the building’s physical attributes is the exceptional service and building management delivered by Manulife Real Estate. And with a 98% recommendation rate among its tenants across North America, Manulife Real Estate also stands proudly above the rest. For Leasing information contact: Manulife Real Estate Edmonton Office 780-420-6236 OXFORD ADVANTAGE OFFICE | RETAIL | INDUSTRIAL | MULTI-RESIDENTIAL Operated with tenants in mind, Oxford consistently outperforms the industry through independent tenant satisfaction surveys. [Contact our Edmonton office at 780.426.8400 or visit www.oxfordproperties.com/leasing]