13-022 (Montreal RELeasing Broch)2.indd

Host
Andrew Cross
Presenters
Brandon Allen
Stéphanie Beauregard
Mario Bédard
Nathalie Bédard
Laurent Benarrous
Marie-France Benoit
Andrew Bissett
Marcel Blouin
Michel Bouchard
Yves Bouchard
www.realestateforums.com
Montreal
Real Estate Leasing
Conference
Thursday, May 23, 2013 • Delta Centre-Ville Hotel
Richard Burgos
Steven Chaimberg
Media Sponsor
Principal Sponsor
Christian Charbonneau
Guy Charron
Michel Cohen
Frédérick Corey (invited)
Robert Cressaty
Ryan Cymet
Luciano D’Iorio
New Format!
Carmen De Angelis
Julie Desrochers
Marie-France Desrochers
Only $310 Until May 9th
Jean-Marc Dubé
Louis-Martin Dubé
Jo-Anne Durand
René Gauthier
Robert Giglio
Tom Godber
Yves-André Godon
Jean-François Grenier
Catherine Guertin
Norma Howieson
Joe Iadeluca
Julie Lanteigne
Stéphanie La Rocque
Andréanne Lavallée
Danielle Lavoie
James Papadimitriou
Denis Paquin
Manon Parisien
Peter Picciola
Richard Poirier
Nicolas Rioux
Brian Salpeter
Julie Salvail
Céline Tessier
Erik Tremblay
Sam Tsoumas
Renée Vézina
Natalie Voland
Gold Sponsors
MONTREAL REAL ESTATE LEASING CONFERENCE
7:15 a.m. 9:40 a.m. REGISTRATION & CONTINENTAL
BREAKFAST
Session A1
8:00 a.m. HOW ARE THE MONTREAL OFFICE,
RETAIL AND INDUSTRIAL LEASING
MARKETS PERFORMING? HOW MUCH
ACTIVITY AND DEAL FLOW CAN WE
ANTICIPATE?
How much transaction activity has there been in the
Montreal office, retail and industrial leasing market
over the past twelve months? How would you describe
deal flow and velocity in today’s market? What are the
current occupancy rates, rental rates etc., and where are
they heading? What are the anticipated absorption rates
for 2013? What are the profiles of the tenants that are
looking for space? How much of an emphasis is there on
greener and more environmentally enhanced buildings
in these market conditions? What is the outlook for the
performance of the leasing markets Montreal in 2013
and beyond?
Concurrent Sessions (Attend 1 of 3)
THE CHANGING LANDSCAPE OF
THE RETAIL MARKET AND THE
IMPLICATIONS FOR CURRENT
TENANTS AND OLDER FORMATS
The retail market in Quebec is poised to experience some
dramatic change. One of the most significant is the range
of U.S. and European retailers who have entered Canada
and the potential implications of these new entrants on
landlords, developers, existing retail tenants, and
consumers. What will be the most significant changes as
a result of this influx on new retail developments, tenant
profiles, and leasing activities? What does the future
hold for the renewal of older retail? How much change
are we likely to see in formats and size, e.g. bigger is not
always better. What impact is inner city condominium
development having on urban retail formats to serve that
new market segment? How different are ethnic retail
centres with respect to tenant profiles and the demographic
of these consumers? Who are now the real anchors in
today’s retail centres? What impact will online shopping
have on retail space?
Moderator:
Jean-François Grenier, Senior Director, Altus Group
Panel:
Moderator:
Andrew Cross, Publisher, ESpace Magazine
Guy Charron, Executive Vice President,
Operations – Retail Sector, Cominar REIT
Retail Market:
Norma Howieson, Assistant Vice President, Leasing,
Westcliff Management Ltd.
Marcel Blouin, Owner, Marcel Blouin Real Estate Inc.
Moderator:
Céline Tessier, Partner, McMillan LLP
Panel:
Richard Burgos, Partner, Lavery, de Billy LLP
Jo-Anne Durand, Lawyer, Riel & Associates
Erik Tremblay, Executive Vice President,
Groupe Immobilier de Montréal
Session A3
DEAL-MAKING IN TODAY’S MARKET:
ASSESSING, NEGOTIATING AND
FINALIZING OFFERS TO LEASE
Given the anemic economic outlook for North America,
there is some concern that vacancy rates in office,
industrial and retail properties could be on the rise. How
are landlords planning their leasing campaigns and setting
hurdle rates in these market conditions? How are threshold
deal terms being set? Are NERs the best pricing metric for
a landlord to use? Are there any alternative strategies that
would be as or more effective? How do Canadian leasing
strategies being used by tenants and landlords compare
with U.S. strategies? Are the latter practices creeping
into the Canadian market? How are they marketing their
vacant and soon-to-be vacant space? Are landlords keen to
“extend and blend” and to renew tenant leases for as long
as possible while tenants are seeking much shorter terms?
How do you get a deal done in this market? Are there
creative ways to complete a successful transaction?
Moderator:
Nathalie Bédard, Partner, Donati Maisonneuve LLP
Manon Parisien, Director, Real Estate Services,
Oberfeld Snowcap
Panel:
Ryan Cymet, Vice President, Industrial,
Jones Lang LaSalle Real Estate Services
Nicolas Rioux, Senior Legal Counsel, Ivanhoé Cambridge
Christian Charbonneau, Senior Vice President,
CBRE Limited
Office Market:
Session A2
Robert Cressaty, Vice President,
Corporate Real Estate Services, Landmark Properties Inc.
Industrial Market:
Laurent Benarrous, Managing Director & Principal,
Avison Young Quebec
9:10 a.m. MORNING REFRESHMENTS
Lanyard Sponsor
Sponsorship Opportunities
Please contact Frank Scalisi:
[email protected]
or 416-512-3815
ASSIGNMENT, SUBLETTING, CHANGE
OF CONTROL AND LEASE TAKEOVER:
CURRENT TRENDS
Subleasing, change of control and lease takeovers are
prevalent commodities in the office, industrial and retail
markets. It is important for both tenants and landlords
to understand the key issues and differences associated
with these situations. What is a sublease? What are the
major differences between a head lease vs. a sublease,
e.g. in assignment; tenants’ rights? As a tenant, how do
you work with landlords in order to get consent? How are
lease takeovers being structured? Under what conditions
should transfers be allowed? What control provisions in
leases have implications on these actions? What is the
tenant’s perspective on subleases? What is the landlord’s
perspective? What is the difference between lease and
sublease enforcement? How do you actually terminate
the lease? How can lease provisions manage sublease
activity without unduly penalizing the tenant? When can
the landlord’s consent be reasonably withheld? Does the
landlord need a third party agreement? What should you do
if the prospective subtenant wants to extend the term as a
condition of leasing the space?
Julie Lanteigne, Lawyer, De Grandpré Chait LLP
Richard Poirier, Senior Vice President, Leasing,
Magil Laurentian Realty Corporation
Delta Centre-Ville Hotel - Thursday, May 23, 2013
10:45 a.m. Concurrent Sessions (Attend 1 of 3)
Session B1
NEW DEVELOPMENTS AND THE
RESURGENCE OF THE DOWNTOWN
OFFICE MARKET: WHERE IS IT
HEADING?
How has the office market performed in downtown
Montreal vs. the outlying areas? How much unoccupied
space is there currently on the market? What impact will
the new developments have on the market? Where are net
effective rates heading at this time? What are projected
long term rent trends? What is the profile of tenants who
are attracted to the downtown core and the new space?
What will likely happen in the remainder of 2013? How
successful have landlords been as well as brokers on their
behalf in rebranding or repositioning B and C class
older office buildings vs. A space? How do landlords
address the challenge of dealing with a tenant who is
only in the market once every five or ten years? To what
extent are tenants increasingly pushing the demand for
greener building environments? For what tenants is LEED
certification a significant factor? What are the views of
landlords in Montreal about greening their existing assets?
Session B2
LANDLORD & TENANT RIGHTS
AND REMEDIES: FIVE COMMON
DEFAULT SCENARIOS AND OTHER
ISSUES THAT YOU NEED TO BE
AWARE OF IN TODAY’S MARKET
Rights and remedies are an established common element
of commercial real estate leases. They are at times
contentious issues for landlords as well as to tenants. This
panel will examine a range of issues beginning with five
common default scenarios: what are the reactions of the
respective parties; what makes sense; and how are litigators
contending with these clauses where defaults occur. What
are some sources of common conflict between a landlord
and a tenant over special rights and how can they be
avoided through the drafting process? Both landlords and
tenants are trying to build flexibility and control into their
leases. How can competing interests co-exist? How are
litigators contending with these clauses where defaults
occur? Learn how these issues are addressed from the
perspective of a landlord, a tenant, and a litigator in today’s
market conditions.
1. Downtown Office Market
Panel:
2. Industrial Leasing Market
Julie Desrochers, Partner, Gowlings LLP
Julie Salvail, Director, Legal Services,
Magil Laurentien Realty Corporation
Panel:
Sam Tsoumas, Vice President,
Leasing & Marketing Coordinator,
Broccolini Construction
MINI ROUNDTABLE DISCUSSIONS –
WITH THE EXPERTS AND YOUR PEERS!
James Papadimitriou, Partner, McCarthy Tétrault LLP
Marie-France Benoit, Director, Business Development,
Altus InSite
Brian Salpeter, Partner,
Davies Ward Phillips & Vineberg LLP
LUNCHEON REFRESHMENTS
Moderator:
Stéphanie La Rocque, Partner, De Grandpré Chait LLP
Frédérick Corey, Senior Director, Montreal Region,
Cominar REIT (invited)
INFORMAL LUNCHEON
Take advantage of this opportunity to participate in
informal discussions on the dynamics of key legal
issues, market trends, and transaction activity. Tap
into the minds of experts, gain insight into proven
strategies, and share experiences with your peers.
You will have an opportunity to be part of one of
the following small discussion groups that will be
held as an extension of the luncheon. Choose from
one of the following discussion topics:
Moderator:
Andrew Bissett, National Director and Executive
Vice President, Montreal Tenant Advantage Team,
Jones Lang LaSalle Real Estate Services
11:50 a.m. Session B3
WHAT IS THE TRUE COST OF
OCCUPANCY, WHY TENANTS ARE
CONCERNED ABOUT IT, AND WHAT
LANDLORDS NEED TO UNDERSTAND
Most tenants worry about the cost and performance
certainty of the buildings and the space that they occupy.
This session will examine cost certainty and additional rent
issues including: the increasing frequency of lease audits,
the occurrence of uncontrollable capital expenditures,
e.g. curtain walls, leaky building envelopes, deteriorating
exterior marble facing. Do landlords and tenants ever
really have a handle on the true cost of occupancy? Can a
landlord accurately disclose a ten year plan for capex and
operating costs? If the building supports the tenant brand,
then how do you ensure building performance over the
long term is consistent with the brand? What leverage does
a tenant have when the building stops making the grade?
Moderator:
Renée Vézina, Vice President, Legal, Oxford Properties Group
Panel:
Robert Giglio, Director, Leasing,
Bentall Kennedy (Canada) LP
Catherine Guertin, Partner, Borden Ladner Gervais LLP
Andréanne Lavallée, Senior Manager,
Real Estate Consulting, Raymond Chabot Grant Thornton LLP
Danielle Lavoie, Vice President, Property Management,
Strathallen Capital Corp.
3. Retail Leasing Market Trends
4. The Continuing Debate Over Operating Costs
5.Green Buildings and New Office
Developments: An Update
6.Five Lease Clauses That Do Not Get
Enough Respect
7.The Challenges of Leasing in Mixed-Use
Developments
If your preference is to sit at another table, that is
fine. Several will be available for individuals to
do their personal networking.
1:00 p.m. CREATING THE PERFECT LEASE AND
CLOSING THE TRANSACTION: WHAT
ARE MAJOR POTENTIAL ISSUES AND
HOW CAN THEY BE RESOLVED?
An interactive session featuring three real estate lawyers
who will represent the various parties and points of
view that are usually involved in structuring a lease
and completing a negotiation. Successive versions of
standard lease provisions will be presented, e.g. right of
first refusal, right to extend, default. Potential variations
will be outlined, explained and discussed by the panel,
comparing the position of the landlord to the perspective
of a tenant. What are the issues and sticking points when
negotiating in today’s market and what are the arguments
used to reach the middle ground? How long should it take
to finalize a leasing transaction? Variations for retail, office
and industrial space will also be used. Legal, logical, and
business justifications for the changes requested by each
lawyer will be made. The implications of the changes to
each party will be also discussed.
www.realestateforums.com
Speakers:
Speakers:
Moderator:
Stéphanie Beauregard, Attorney,
Delegatus Legal Services Inc.
Louis-Martin Dubé, Partner, Lavery de Billy LLP
Tom Godber, Senior Vice President, Principal,
Avison Young Quebec
Denis Paquin, Partner, Fasken Martineau LLP
Steven Chaimberg, Partner, Lapointe Rosenstein LLP
René Gauthier, Partner, Gascon & Associates LLP
2:00 p.m. Concurrent Sessions (Attend 1 of 3)
Session C1
WORK, LIVE, PLAY & LEARN:
HOW ADAPTIVE RE-USE AND
DEVELOPMENTS IN THE INNER CITY
ARE RESPONDING TO THIS TREND?
WHAT ARE THE PRIORITIES OF
TODAY’S OFFICE TENANTS?
“The most efficient and productive cities and regions are
ones in which people are thinking and working – not sitting
in traffic. The shift toward the urban core is increasing in
major cities across Canada. The coming decade will see
greater concentrations of people, increasing densities, and
further clustering of industry, work and innovation in cities.
Alongside that will come ever more concentrated economic
opportunity.” Richard Florida
Every strong community has a vibrant mixed-use core
where people gather: where commerce, culture, recreation,
entertainment, education and inspiration meet. This
session will examine some of the trends of corporate
space users in Montreal, and their implications for the
real estate market. What type of innovative and successful
projects are emerging in the inner city areas? How is the
concept of “work, live, play and learn” applying to the
Montreal market? This session will examine the new
office developments, the significant evolution of the “brick
and beam” market, and the move towards more innovative
workplace environments for corporate real estate.
Moderator:
Luciano D’Iorio, President,
Terramont Real Estate Services Inc.
Panel:
Yves Bouchard, Director of Leasing, Office,
Eastern Canada Portfolio,
The Cadillac Fairview Corporation Limited
Marie-France Desrochers, Senior Manager,
Corporate Accounts, Devencore Newmark Knight Frank
Natalie Voland, President,
Gestion immobilière Quo Vadis inc.
Session C2
RECENT CASE LAW: IMPLICATIONS
FOR LEASING AND OTHER REAL
ESTATE ACTIVITIES
A fast paced analysis and review of significant legal cases
and judgments that developers, landlords, tenants, brokers,
lenders, and lawyers practicing in the real estate field
need to be aware of and understand. The focus will be on
practical information on important precedents that can have
an impact on all parties involved in commercial real estate
transactions and activity.
Panel:
Session C3
Mario Bédard, Senior Vice President,
Québec and the Maritimes, Bentall Kennedy (Canada) LP
INDUSTRIAL LEASING TRENDS IN
THE GREATER MONTREAL AREA:
IS IT A TENANTS’ MARKET?
Michel Bouchard, Co-Chief Operating Officer,
The Redbourne Group
The session will open with a brief overview of the demand
side of the Montreal industrial market: logistics and
warehousing vs. heavy uses. What are the major trends
in this leasing market? What is the pace of deal flow?
What are some examples of deals that have recently been
completed? How does leasing compare in Laval and the
North vs. the South Shore vs. the West Island and other
submarkets? What type of space is becoming obsolete
and what is not? How are industrial tenant requirements
changing, and what recent landlord initiatives are
addressing this demand? How have values of B and C
buildings been impacted over the past year? What does
the future hold for these assets and other obsolete types
of properties? What are the environmental challenges of
dealing with contaminated sites?
Yves-André Godon, Senior Vice President,
Eastern Canada, Triovest Realty Advisors Inc.
Peter Picciola, Vice President, Leasing & Development,
Montreal, Canderel Management
4:00 p.m. ADJOURNMENT
Corporate Sponsor
Moderator:
Jean-Marc Dubé, Vice President, Colliers International
Panel:
Brandon Allen, Commercial Real Estate Advisor,
DTZ, a UGL company
Michel Cohen, President, Vista Properties
Carmen De Angelis, Vice President, Leasing, Olymbec
Information To build on!
Canada’s Leading Annual Real Estate Conferences
Hear informative speakers! Make personal contacts!
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Joe Iadeluca, Senior Vice President, Eastern Canada,
Dundee Industrial REIT
3:00 p.m. SENIOR EXECUTIVE ROUNDTABLE:
WHAT ASSET MANAGEMENT AND
LEASING STRATEGIES ARE YOU
USING TO COMPETE WITH NEWER
DEVELOPMENTS AND CHANGING
TENANT NEEDS?
Virtually every new development in today’s market is
being designed with LEED certification or some high
performance metric in mind. However, new construction
and adaptive re-use still only represents 1% of the building
stock. What are the options facing the remaining 99%
of buildings with respect to enhancing their energy and
environmental performance in general? Is the average
tenant looking for a greener and more innovative workplace
environment? What steps can owners of existing buildings
take to improve the operational efficiencies of their
properties and to ensure that their space remains
competitive in the market? What can you do with B or C
buildings to maintain or improve their Net Asset Value?
This session will examine specific asset management,
marketing, and capital investment strategies that landlords
are employing in the Montreal market to remain their
competitiveness.
October 2, 2013
Metro Toronto Convention Centre
North Building
OTTAWA
REAL ESTATE FORUM
October 10, 2013
Hampton Conference Centre
Toronto
Real Estate Forum
December 4 - 5, 2013
Metro Toronto Convention Centre
South Building
QUEBEC APARTMENT
INVESTMENT CONFERENCE
February 2014
Montreal
Montreal
Real Estate forum
April 1, 2014
Fairmont The Queen Elizabeth
Quebec City
Real Estate Forum
May 27, 2014
Fairmont Le Château Frontenac
For details on these conferences and to
register online visit www.realestateforums.com