2012 Real Estate Property Forum · 2012 Real Estate Property Forum RETAIL SECTOR *Important* Please...
21
2012 Real Estate Property Forum RETAIL SECTOR
Transcript of 2012 Real Estate Property Forum · 2012 Real Estate Property Forum RETAIL SECTOR *Important* Please...
2012 Real Estate Property Forum
RETAIL SECTOR
Presenter
Presentation Notes
*Important* Please choose only one of these first four slides for the title slide of the presentation.
Calgary Market Overview
2
Rob Walker Vice President/Partner Colliers International Calgary
Moderator
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Market Overview
Ralph Huizinga Vice President, Acquisitions & Development First Capital Realty Inc. Calgary
Panelists
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Market Overview
4
Lec Mroczek Manager, Real Estate and Development Tim Horton’s Calgary
Panelists
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Market Overview
5
Tom Munro Vice President, Real Estate & Store Development Overwaitea Food Group Vancouver
Panelists
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Market Overview
6
Darryl Schmidt Vice President, National Leasing The Cadillac Fairview Corporation Ltd. Calgary
Panelists
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
State of the Union 2008 - 2012
8
► Dropping Rental Rates
► Increasing Vacancies
► Rising Cap Rates
► Falling Loan to Value Ratios
2008 - 2009
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
9
► Rising Rental Rates
► Dropping Vacancies
► Cap Rate Compression
► Abundant Equity/Debt for Retail Investment
2010 - 2011
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Retail Market Highlights 2012
10
► Retail is flourishing!!
► Current market shopping centre vacancy rate: 1.99% (October 2012)
► October 2011 shopping centre vacancy rate: 1.45%
► October 2011 streetfront vacancy rate: 2.50%
► Current streetfront vacancy rate: 2.92% (October 2012)
► Retail under construction: 339,430 sq. ft.
► Proposed retail to be developed: 10,520,788 sq. ft. spread over 37 projects
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Calgary Retail Market Highlights 2012
11
► 2011 annual retail sales in Alberta increased 7.2%
► 2012 annual retail sales in Alberta are projected to increase 8.9% and a further 8.5% in 2013
► July year over year retail sales are up 9.2%
► Retail sales in Calgary are expected to increase 5.6% in 2012, and a further 5.4% in 2013
► Monthly (July) retail sales in Alberta exceeded BC by $604,300,000 – annualized: $7.251 Billion
► Alberta has 748,828 fewer residents than BC
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
13
Per Capita Monthly (July 2012) Retail Trade by Province
$-
$200.00
$400.00
$600.00
$800.00
$1,000.00
$1,200.00
$1,400.00
$1,600.00
14
Streetfront Vacancy Rates
15
Calgary Retail Vacancy Rates
Rental Rates
16
► Relatively stable for the most part in Strip Centre (under 50,000 sq. ft.), and Neighbourhood Centre (50,000 – 100,000 sq. ft.).
► Increasing 3% to 12% across the board for the most part in Community Centres (100,000 sq. ft.+) and Regional Shopping Centres.
► Streetfront rental rates dropped as much as 20% in 2009, however that drop has stabilized with notable streetfront projects seeing an increase in both interest and rental rates, and a reduction in Tenant inducements.
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Strip Shopping Centre 2012 Forecast Lease Rate $22.00 - $28.00
Neighbourhood Shopping Centre Lease Rate $25.00 - $40.00
Community Shopping Centre Lease Rate $28.00 - $50.00
Enclosed Community Centre Lease Rate $20.00 - $30.00
Regional Shopping Centre Lease Rate $60.00 - $200.00
Streetfront Lease Rate $30.00 - $80.00
Calgary Lease Rates
17
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Proposed Retail Projects
18
► 37 projects currently proposed in Calgary
► Combined area of 10,520,788 square feet
► Summary by quadrant:
► NW = 3,384,450 sq.ft. (11 projects)
► NE = 3,881,135 sq.ft. (8 projects)
► SW = 464,123 sq.ft. (9 projects)
► SE = 2,791,080 sq.ft. (9 projects)
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Summary
19
► Calgary’s Retail Market remained very stable and healthy in 2012 ► Increasing optimism by retailers, developers and most
importantly, Consumers ► Consumer confidence
► Unemployment levels have stabilized, and decreased ► Increasing housing prices ► Low/stable inflation ► Oil prices hovering in the $90 to $100 range ► Canadian dollar around par with the US dollar ► Alberta has the highest average weekly earnings in Canada
► Credit (equity and debt) is much easier to obtain in 2012 ► Stabilized and increasing retail sales, and profit levels ► Residential growth
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
Thank You
QUOTES FROM OUR CITY ADMIN
21
► “ Big box development are a mis-guided experiment.”-Mayor Nenshi
► “Mondays vote means a death knell for big box centres that dominate much of Calgary’s commercial landscape.”-Mayor Nenshi
► “I don’t think they’re particularly good retail spaces.”-Mayor Nenshi
► “I don’t do suburbs.”-Rollin Stanley ► “I have a philosophy. If you can’t get out of your car to buy a
doughnut, you should probably not be eating it.”-Rollin Stanley ► “Hostile”, “horrid for pedestrians”, “harsh urban appearance” -
Calgary Planning document on Easthills project
Presenter
Presentation Notes
*Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box.
