“ESG” is an acronym we hear thrown around consistently in the commercial building space, but from my experience, very few understand what this corresponds to and how it will affect their existing assets and developments, or future planning for the same. This article will address how buildings are rated, who are the rating agencies, and what considerations will best future proof your assets.
Read MoreIt truly wasn’t long ago, maybe 12 months or less, that Edmonton and Calgary were flush, perhaps too flush, with Class A speculative distribution space. In the matter of not years, but months, the inventory in both major cities has been absorbed by household names who have entered the Alberta market in quick succession. Regardless of submarket - north, south, east, west or periphery - the pickings are now unbelievably slim for large distribution tenants looking to take advantage of the low cost environment in our province and move into warehouse space within the calendar year.
Read MoreBrick and mortar and e-commerce are like two circles of a Venn diagram, overlapping in their central goals of engagement, but forming separate concepts and strategies for a retailer. Conversely, Experiential Retail, Retail as a Service, and Micro Retail are more representative of building blocks, growing on top of each other to create a fully formed experience for the target retail customer. Read more about how these concepts are overlapping to create new opportunities in the retail asset class.
Read MoreI recently had the enjoyment of sitting down with my esteemed colleague and friend, Chad Griffiths, Partner at NAI Commercial, and Gerald Tostowaryk, host of The Real World of Real Estate podcast, to discuss the past year and our upcoming projections for the Alberta industrial real estate market.
Read MoreIt wasn’t so long ago that the Edmonton sub-markets of Nisku and Leduc were hailed as the oil and gas heartbeat of the Region. These industrial parks established themselves as the incubators for oil and gas manufacturers, service providers, fabricators, transporters, and many others, aiding in growing our Province’s resource production to all time highs. Edmonton is the capital of the North, but Nisku and Leduc are among the workhorses that allowed the real North to be developed.
Read MoreWhat does a City do when tasked with redeveloping a cost prohibitive, aging emblem that encompasses millions of Edmontonian memories? By the way, this is all located on 160 acres of centralized, transit accessible mixed-use land.
Read MoreI was pleasantly surprised to hear that Alberta, along with Ontario, Saskatchewan and New Brunswick, have all signed on to help further develop nuclear reactor technology in Canada. The goal of this program is to support the advancement and deployment of nuclear energy through small modular reactors (SMRs), a fresh, new technology that greatly differs from standard nuclear reactors, both in size, flexibility and overall safety.
Read MoreOver the past few years, investors have taken an increased notice in the temperature controlled real estate sector, expanding both their build-to-suit developments, as well as those speculative in nature. The ever-growing demand for fresh food on a global scale, in addition to the storage requirements for temperature-sensitive pharmaceuticals, has created a uniquely desirable asset class, showcasing currently its added benefit of being relatively recession proof.
Read MoreIt’s easy to get bogged down in the negative news surrounding delayed pipelines, figurative and literal roadblocks, and absentee governance, but behind the veil, there are some outstanding developments, projects and innovations that are taking place all across Alberta.
Read MoreData is growing at an almost incomprehensible rate. There are 2.5 quintillion bytes of data created each day at our current pace, but with the growth of the Internet of Things (IoT), robotics, 5G and AI, that pace is accelerating. By understanding the requirements and initiatives surrounding tech based real estate, Alberta could be in an advantageous position to diversify industry and encourage the absorption of current vacancy in the form of data centres.
Read MoreTechnology is impacting the construction industry like never before. An impressive lineup of developments are aiming to improve the efficiencies of a sector that shapes how every human being is able to live their lives.
Read MoreThe catchphrase of the moment is proving to hold its weight as we analyze commercial real estate trends leading into the new year. Canada’s Multifamily market is the strongest it’s ever been with rental rates nearing 10-year highs, apartments near 100% occupancy, and volatility remaining low. On the industrial front, demand for fulfillment space continues to reign supreme to satisfy the multiplying growth metrics in e-commerce.
Read MoreFounded by a collaborative group of local businesses and non-profit organizations, they came together with the common goal of fostering competitive tax and policy programs within the City of Edmonton to ensure all businesses and citizens can successfully grow and flourish.
Read MoreHow do we design livable, workable, and healthy spaces, by limiting unsustainable urban sprawl while concurrently avoiding densification to the detriment of quality of life? These are the most important questions for any City Plan, because while it’s obvious that the outward growth of single family neighbourhoods casts a huge financial toll on all citizens, it’s also obvious that individuals and families are choosing that lifestyle and living situation for a reason.
Read MoreIn what appears to be a long, slow road ahead for the Alberta marketplace, it is essential that the City of Edmonton and the City of Calgary find ways to spend smarter, not harder, in order to improve the entrepreneurial mindset in these cities, increase business confidence, and slow the outward migration.
Read MoreAs it stands, Alberta’s prospects of delivering oil to tide water are grim, if not non-existent. Following the calamitous finale of the Energy East pipeline, and the mismanagement of the western Trans Mountain Pipeline, it seems that our one-customer energy policy could remain in effect indefinitely. But what if there was one more option to consider that could present significantly less inter-provincial conflict, potentially reduced cost outlays, plus economic opportunity for a struggling provincial economy. Would it not be worth investigating?
Read MoreWith 243,000 kilometres of coastline, Canada boasts the longest coastline in the world. Due to the nature of the sea ice in our northern territories, the majority of the northern coastline is untouched by human intervention and ship traffic. Due to the nature of our politics, the majority of our functional coastline in Eastern and more so, Western Canada, is blocked from viable tanker traffic. The rest of the world is aggressively trading with each other, and we’re being left in the dust.
Read MoreAround the world, a new stream of relatively passive revenue is benefiting the Landlords of commercial buildings. Read about one method that is mutually symbiotic in benefiting both the environment, and the bottom line, as countries around the world continue to take efforts toward transitioning the consumer’s reliance on energy to new renewable sources.
Read MoreIf you've driven past or to the Edmonton International Airport (EIA) lately, you'll likely have noticed that it is a changing and growing landscape. The EIA innovatively came up with a Master Plan for the future of the land surrounding the Airport that involved making available much of the Airport's under-utilized land for the purpose of commercial development by private companies.
Read MoreThis past week at the Edmonton Real Estate Forum, the Industrial Panel took a run at some of the huge challenges faced by industry in the Edmonton market due to the ever increasing property tax rates and reimbursement expectations from our Councillors. With over 1.5 Million square feet of industrial product under construction this past quarter (Q1 2018) and the majority being located outside of Edmonton, what more can we say.
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