Session C2:
Is Canada Running Out of Industrial Real Estate? How is This Property Class Performing Across the Country? What Lies Ahead?
A strong case be made that industrial real estate has been on an accelerated and significant comeback trail for the past four years. Availability of industrial space across the country has fallen to a historically low level of 3.9% in 2018, while supply tightened in eight of the ten major commercial real estate markets. This session will examine key investment, leasing and development trends in this asset class across Canada today. What are the factors responsible for this exceptionally strong demand? How much can be attributed to the logistical needs of online shopping and the legalization of cannabis? To what extent can it still be categorized as a tale of two submarkets comprised of new modern warehousing buildings vs. older vintage properties with marginal applications for many users? Do rent levels now support new development in most markets? Where are NERs heading in Toronto and Montreal? How are Western markets performing (Vancouver, Calgary and Edmonton)? How strong is investor interest overall in industrial assets?
Moderator:
Andy Horvath, Managing Director, Edmonton,
Cushman & Wakefield
Panel:
Paul Dykeman, Chief Executive Officer,
Summit II REIT
Chris Holtved, Senior Portfolio Manager, Real Estate, HOOPP
David Levine, Managing Director, Real Estate, Blackstone
Glenn Way, Senior Vice President, Asset Management, Commercial, GWL Realty Advisors Inc.