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Joining Cory and Melisa this week we have from Scout Real Estate, Lori Suba, President and Broker, and Laurae Spindler, Vice President and Associate, who are back on the show to revisit the market in Calgary.
Lori and Laurae don’t hold back as we unpack the different sectors of the market, as well as discuss the Calgary downtown core and learn what the future could entail for what we agreed was Canada’s top 2023 market.
Take notes and broaden your boundaries as we take a peek over the fence into the Alberta commercial real estate market.
Lori Suba and Laurae Spindler of Scout Real Estate break down everything you need to know about the Calgary office and industrial real estate markets in 2023. Find out: Is Calgary a better commercial real estate investment than Vancouver?
Who are Lori Suba and Laurae Spindler? What is Scout Real Estate?
Lori: I’m the President and a Broker at Scout Real Estate. I have 20 years of leasing expertise in the Calgary market, with a focus on the office sector. I spent the bulk of my career in downtown Calgary but these days I’m all over the city.
We launched Scout in July 2020. We’re a boutique real estate firm specializing in the office and industrial markets.
Laurae: I’m Vice President and Associate here at Scout with a focus on the industrial side. I have about 15 years of experience in the market. I also spent time on the landlord side working with a national REIT and a developer.
We also have our own podcast, Leasing Out Loud. We specialize in market trends in the Calgary, Alberta area.
The Western Investor picked Calgary as one of their top investment markets in 2023. What’s happening in Calgary real estate, specifically in the industrial market?
We’re coming off of a record year for industrial real estate in Calgary in 2022. We’ve had a strong market for about 2.5 years now. The first quarter of 2023 has shown some cooling in absorption but is still strong compared to historical data. We have 5 million square feet of industrial under construction with about 25-35% pre-leased. Our vacancy rate is around 2-2.5% and we expect that to remain stable.
We’ve seen a bit of a slowdown in the big box, large scale industrial projects. So things are a bit different than last year when there was no end in sight to the demand. But overall we still have high demand, low vacancy and rent growth.
What are the top areas for industrial real estate in Calgary?
The Balzac area has seen the largest growth in construction in the last five years. There’s a property tax benefit being in that area, which attracts a lot of development.
Other areas along the Ring Road and to the east of the city are also seeing more growth. We’ll continue to see more parks being built on the east and southeast side of Calgary. Our airport is in northeast Calgary, so these sites would still be in proximity to the airport if they’re in the east.
CN announced a new intermodal transload facility in Calgary which will be delivered in late 2024. That is going to transform the supply chain between Calgary and the ports of Vancouver and Prince Rupert. It’s a great investment and great news for the city.
The CN investment solidifies the confidence in Calgary. We will continue to be a leader in industrial real estate because of our location.
What are lease rates like for industrial properties in an area like Balzac?
Lease rates do depend on your size. If you’re a mid-bay tenant with 25,000 square feet, you’re in the low double digits. To get to the high single digits, you’d have to be 50,000 or 100,000 square feet or more.
In Balzac, we recently had a REIT become a developer. They are undertaking their first new construction development project in industrial. They have been highly successful in Calgary with very low vacancies. They often achieve 3% annual increases across the board.
How is the office market in Calgary?
I wish I could say the office market was as hot as the industrial market in Calgary but it is really a tale of two cities. The office market in Calgary is challenging and it’s been challenging for some time.
I’d say the office market in Calgary is still in recovery mode and will be for a while. It won’t be a quick fix. All office markets are working through trends of remote work and what the implications from that will be.
Downtown we are north of 30% vacant. On the plus side, the last few quarters were positive so we are starting to climb out. The energy sector is returning and they’re cautiously optimistic. But there are ups and downs.
In the suburban office market, we have a record vacancy level at 26%. We’re starting to see migration from the suburban nodes to the downtown core since there are deals to be had downtown.
Within the downtown core, we have two trends happening. We had groups moving out of the lower quality, west end buildings, so have a lot of vacancies there. But we’re also seeing some rent increases in the better quality office buildings. It makes for an interesting office market downtown.
We are still an oil and gas town; we’re commodity based. Those are the tenants in downtown Calgary. We’ve had some bright spots with tech but they’re not really moving the needle. The big swings for Calgary were usually tied to the oil sands.
Can you tell us more about the conversion programs happening in Calgary?
Calgary’s conversion programs were actually featured in the Washington Post! While it was great to see that press for our city, we are a work in progress. The City of Calgary has a goal to convert six million square feet from our commercial inventory downtown, which stands at 43 million square feet total, into residential real estate.
Calgary is very spread out. We don’t have many people living in our downtown core. Most people live in the suburbs and commute into town. But we’re trying to change that with this conversion program and bring new life to the downtown core.
The incentive program is attractive. The city is offering developers $75 per square foot to convert these developments, up to a max of $15 million per project. So far, 1.25 million square feet has been confirmed for conversions and the city has dedicated $450 million in grants. We expect it could be closer to a $1 billion investment.
We are seeing positive momentum! Some buildings that have been challenged for years are going ahead with these conversions. So we’re on the right track and it will be interesting to see how this plays out. It’s not a silver bullet for downtown Calgary’s problems but it’s a move in the right direction.
Is there a demand for people who want to live in downtown Calgary?
That’s the ultimate debate. I appreciate the headline in the Washington Post and many of these conversions are targeting lower cost rentals. But do we have the infrastructure and retail to support the downtown residential market? Have we thought through the traffic implications? What will the mix look like? In my view, it’s still a work in progress.
We need to see what we’re missing and what we can do to attract people to the downtown core. It will be interesting to see if we can get Calgarians out of their cars. Calgarians love their cars and big suburban homes. But parking is very expensive downtown. So it will be interesting to see how that plays out in the next few years.
We’ve heard a lot of talk about a new arena and new entertainment district in downtown Calgary. What’s happening there?
That new arena and entertainment district was recently approved and we’re optimistic about it. There are some really cool plans around that area. The change is needed and overall it will be a good move for Calgary. We’ll finally get the concerts that Edmonton is getting!
There has historically been a mass exodus out of the core of Calgary. We need to change the story in Calgary and that’s what they’re doing.
Where is the Calgary commercial real estate market 3-5 years from now?
I think overall Calgary is an incredibly entrepreneurial market. We have a very young and highly educated workforce. I’m very optimistic; you have to be as an office broker in Calgary. So I think we will see more conversions; more people living, working and playing in the downtown core. I think we’ll see a recovery from some of the record high vacancy levels and I believe we’ll change the viewpoint away from that mass exodus out of the core.
For industrial, we continue to have high net migration to our city because of our high quality of life and affordable housing. The growth of our city and province add demand to services and goods needed, which means demand for industrial real estate.
I think development has caught up with the significant jump in demand for warehouse space that was created through covid. But the size of our industrial market, our geographic location and the confidence in our market will keep things stable. I don’t think vacancy will increase significantly. I think we’ve set a new benchmark for rental rates.
Calgary is still very affordable when compared to Vancouver or Toronto. So all signs still point to an attractive industrial real estate market. It might not be a record year like 2022, but it will be a stable market that performs well.
The 6 Pack: Getting to Know Scout Real Estate’s Lori Suba and Laurae Spindler
Favourite restaurant or bar?
My favourite restaurant is the River Cafe in Calgary. It was just awarded one of Canada’s 100 Best Restaurants.
What would your last meal be on death row?
I’m going to go with a spicy chicken sandwich from Popeye’s with extra pickles!
There’s a night market bowl from Surfy Surfy that’s a fusion between Polynesian and Thai cuisines. It’s flippin’ delicious!
Favourite band or musician?
I’m listening to the Spotify Calvin Harris mix a lot these days. Maybe it’s the summer weather!
I’m on a T Swift kick right now!
What’s your go-to karaoke song?
Friends in Low Places by Garth Brooks and I Love Rock n Roll by Joan Jett.
What are you currently binge watching?
The Murdaugh Murders docu-series on Netflix.
I’ve been watching Jack Ryan. But right now it’s all NBA Finals for me. I’m rooting for the Denver Nuggets!
What is one book you recommend?
The Key to Rebecca by Ken Follett. I think it’s from the 80’s. It’s a spy novel and one of the best!
My favourite book is Jane Eyre by Charlotte Bronte. I’ve read it many times and would read it all day long!
Rod MacKay, the newly appointed Team Lead at WWC’s Vancouver office, joins us for a deep dive into the concept of the 1031 exchange and its potential impact on Canada’s commercial real estate market. Cory and Rod unpack how this U.S.-style tax deferral strategy could unlock stagnant inventory, encourage reinvestment, and even support small businesses by allowing capital gains to be deferred—not forgiven.
Greg Mitchell, Director at GDM Consulting Group, explores what it takes to bring a real estate development from raw land to a completed project. Greg shares insights into the full development cycle, discusses developer-friendly regions, and outlines how design, strategy, and process intersect to create successful outcomes.
Antony Sulentic, Acquisition Manager at PC Urban, explores the exciting developments happening in the rental housing market. Antony brings his expertise to the table as we discuss the regions PC Urban is actively building in, the factors driving their decisions, and how their projects are addressing housing needs in today's dynamic real estate landscape.
Industrial lands planning expert Eric Aderneck offers an insightful discussion on the industrial real estate sector. From politics to tariffs, Eric provides a unique bird’s-eye view of what’s shaping the industry today. Despite the uncertainties in the market, we unpack how end users are still making moves, with properties priced right selling quickly.
Doug O’Dwyer from Axis Insurance clears up the confusion and shed light on some of the most common misconceptions surrounding commercial property insurance, explain why costs fluctuate, and offer insights into the factors that influence your policy requirements. If you’ve ever felt unsure about what you need or why, this conversation is for you!
The long lost missing recording of Doug Porter, Chief Economist of BMO Canada, unwrapping the 2025 Outlook - recapped by Rod MacKay. What does 2025 hold for political outcome, political uncertainty, interest rates, and potentially the real estate market? Tune in and find out!
Many commercial landlords assume property taxes are set in stone, but Vance Leschuk, President of Add-Vance Consulting, a leading expert in property tax appeals, breaks down how owners can challenge their assessments and potentially save thousands. In an economic climate filled with uncertainty, understanding your options for reducing expenses is more critical than ever.
Chris Kasianchuk, Vice President of Sustainability at Warrington PCI Management, explores the growing impact of sustainability in Vancouver and Victoria’s commercial real estate markets. Chris unpacks the role of sustainability in reducing greenhouse gas emissions, the increasing demand for green buildings among tenants and investors, and the evolving regulatory landscape.
Jon Switzer, Managing Partner at Impact Commercial, dives into the current commercial real estate lending landscape. Jon shares his insights on where interest rates are trending, the impact of the latest Bank of Canada rate cut, and what it means for investors. He also breaks down key market trends, the potential effects of capital gains tax changes, and the looming 25% Trump tariffs set to take effect.
Industry experts Spencer Welton, Senior VP of Development at Grand Peaks, and Scott Glazebrook, Architect and Partner VP at Tiscareno, explore the changing landscape of Seattle's real estate market. They dive into the evolving world of multifamily housing, urban planning, and the unique challenges faced by developers in the post-COVID era.
To kick-off 2025, we’re joined by Santanna Portman of William Wright Commercial’s Central Island office to dive into the exciting investment opportunities emerging in Nanaimo for 2025. With its booming population, forward-thinking local government, and affordable market compared to Vancouver, Nanaimo is quickly becoming a hotspot for real estate investment.
In this year-end episode, Cory and Adam dive into the 2025 commercial real estate landscape with an in-depth analysis of key asset classes, sharing expert predictions and actionable insights. Reflecting on the lasting effects of the pandemic and other pivotal events, they explore emerging trends and highlight promising investment opportunities.
Is the commercial real estate market finally turning a corner? The latter half of 2024 provides compelling clues. Cory Wright, Founder & Managing Broker of William Wright Commercial, discusses how the market has transformed through recent interest rate challenges and what changing pricing and returns mean for investors in different markets across the province.
Cory and Melisa deliver the ultimate holiday gift: a step-by-step guide to doubling your cash position in commercial real estate. Learn how to identify markets with robust population and industry growth, understand lease rates and vacancy trends, and why short-term leases and current market cap rates are essential for mitigating risk.
Derek Fluker, Senior Vice President of Acquisitions & Asset Management at Wesgroup Properties, discusses how changes in capital gains inclusion rates, Metro Vancouver’s fee increases, and shifting market dynamics are influencing whether developers hold onto income-generating properties like shopping centres or pursue new housing developments.
It's that time of year again! Cory and Melisa welcome back Rod MacKay for their annual rundown of Canada's top cities to invest in for the coming year. With years of experience and an insider's perspective, Rod brings his seasoned insights to reveal the hottest markets for 2025.
Peter Mitham, Editor of Western Investor, spotlights five promising Canadian real estate markets that investors should have on their radar. With decades of experience covering commercial real estate, economic trends, and business insights, Peter shares his expert analysis on key markets across the country and what makes each one worth watching.
Patrick Wood of William Wright Commercial's Victoria office, also known as William Wright’s unofficial in-house economist, brings his analytical prowess to the table and dives deep into the recent interest rate changes and what they mean for BC’s real estate landscape.
Cameron Archer, Director of Sales and Marketing at Orion Construction, returns to dive into the latest trends and developments in the industrial sector across British Columbia. From the challenges of the current market to emerging opportunities, Cameron shares valuable insights on what’s driving the industrial landscape in BC.
Shelby Kostyshen and Nick Renton from William Wright Commercial in Kelowna dive deep into the industrial real estate market in the Okanagan, uncover the best value for industrial assets, and share insights on how the market is performing.
Andrew Laurie and Brett Jeffrey from Rain City Industrial, Western Canada’s premier design-build firm for industrial workspaces, dive into the industrial asset market, exploring cold storage and processing sectors and discussing how the market is performing.
Kane Willmott, CEO and Co-Founder of iQ Offices, Canada's leader in coworking and serviced office solutions, shares his expert insights on how the coworking landscape has evolved, the significant shifts before and after the pandemic, and where the industry is headed. This episode offers a deep dive into the future of flexible workspaces across Canada.
Peter Leung, Investorpreneur, dives into the latest interest rate trends and how they impact the commercial real estate market. Peter shares his insights on why now is the time to invest in commercial properties, which markets are catching his eye, and where he sees the most potential for growth.
Alan Haigh from Impact Commercial unpacks the recent interest rate drop and its impact on the real estate market, diving into how these changes are shaping the fall market and what investors and developers can expect in the coming months. Tune in to hear Al's take on the future of rates, the opportunities they present, and how the real estate landscape might shift as we move into the new season.
Nick Renton, Commercial Real Estate Broker at William Wright Commercial, shares a comprehensive overview of the BC and Okanagan real estate markets. With over 13 years of experience in credit and investment within retail and business banking, Nick leverages his extensive background to uncover real estate opportunities across the Okanagan and BC.
Stephen Jagger, Co-Founder of addy, began his entrepreneurial journey with Combustion Hosting and continued with Ubertor Realtor Software, OutsourcingThingsDone.com, PayrollHero, and Instant Messaging Real Estate Corp. Stephen shares his insights on revolutionizing the real estate industry to make homeownership accessible to everyone through addy.
Rocky Sethi, Managing Director of Stryke Group, unpacks the groundbreaking project near Penticton Regional Hospital, the Innovation District. Rocky reveals the ambitious vision for a master-planned, mixed-use community featuring up to 1,500 homes and over 100,000 square feet of retail, office space, and other commercial uses.
Jon Switzer of Impact Commercial dives into the recently announced interest rate changes, discussing what these shifts could mean for the commercial real estate market and sharing his expert predictions on future interest rate trends. Don't miss this insightful episode packed with valuable information for investors and real estate enthusiasts alike.
Scott McInnes, Partner and Lawyer at Redpoint Law, unpacks the crucial elements of estoppels and shareholder agreements, emphasizing the significance of precise contract wording. With his extensive legal expertise, Scott offers invaluable insights into why every detail matters in contract formulation and execution.
With the changes to Canada's capital gains taxes slated to come into effect on June 2nd, Ben Vella of Rain City Industrial, who previously shared his expertise on commercial real estate accounting, is back to unpack the effects of the new capital gains rules. Ben discusses the implications of these changes, what investors need to know, and how to strategically navigate the new landscape.
Cory and Adam take center stage to deliver an essential mid-year review of the hottest investment markets for 2024, revealing the prime locations ripe with opportunity. Cory and Adam break down the top-performing markets and emerging hotspots, offering expert analysis and actionable insights to help you make informed investment decisions.
Recently recognized as one of Business in Vancouver’s Forty Under 40, Brad Jones, Senior Vice President of Development at Wesgroup, unpacks the critical topics of Development Cost Charges (DCCs) and Community Amenity Contributions (CACs). With a focus on affordability and sustainability, he explores the challenges and opportunities facing future developments.
With a passion for simplifying real estate development through innovative technology, Geoff Krahn, Founder and CEO of Reveloper, dives into the concept of taking control of your land and maximizing its development potential. He discusses the various options available to landowners and provides valuable insights into navigating the complex world of real estate development.
Joshua Gaglardi, Founder and President of Orion Construction, unpacks the company's extraordinary journey to success. From negotiating contracts exceeding $2 billion to overseeing millions of square feet of developments, he delves into the strategies and principles that have propelled Orion Construction to the forefront of the industry.
Stephen Gammer, with over 15 years of experience in the Commercial Real Estate industry, shares his invaluable insights on what to expect during the commercial lease process, common pitfalls to avoid, and strategies to negotiate win-win situations for all parties involved.
Cameron Archer, Director of Sales and Marketing at Orion Construction, shares how they’ve managed to excel in a competitive market, from leveraging his background in managing industrial projects to nurturing client relationships. Also… listen in to learn how you can enter our Nickelback ticket draw!
Ben Vella, Chief Financial Officer of Rain City Industrial, delves into the intricate world of commercial real estate accounting. Ben sheds light on the crucial role of financial management in commercial real estate projects. From managing budgets to identifying cost savings opportunities for clients, Ben shares valuable insights on optimizing cash flow structures and maximizing tax savings.
Stathis Michael Savvis, Commercial Real Estate Broker at William Wright Commercial, unpacks the endless commercial real estate opportunities awaiting in Maple Ridge, accentuating its pro-business ethos and promising growth prospects within the Greater Vancouver area.
Nathan Armour, Team Lead at William Wright Commercial's New Westminster office, brings a wealth of expertise spanning property valuations, business sales, and investment opportunities. Gain insights into market trends, areas of activity, and the ever-evolving landscape of commercial real estate as Nathan unpacks his extensive knowledge.
With a vision to elevate the hospitality scene, William Donnellan, CEO and Founder of IRL Group, has been steering the expansion of Irish-inspired pubs throughout Vancouver. Gain insights into how IRL Group navigated the complexities of a post-pandemic market, adapting and expanding to meet the demands of a changing landscape.
David Basche, President of Astria Properties, provides unparalleled insights into the industrial asset class and its dynamic landscape. Delving into the nuances of industrial real estate, he also explores the evolving trends in the office asset class, including the topic of rezoning, particularly the shift from industrial to office sparked by recent industry trends.
Anita Chang, Partner with EY, discusses the intriguing intersection of entrepreneurship and real estate ventures. Anita shares EY's Entrepreneur Of The Year program, unveiling the significance and opportunities it presents for entrepreneurs in the real estate arena.
Ric Hayward of Lower Mainland Bailiff guides landlords through the intricate process of handling tenant defaults, offering indispensable insights into how bailiffs can serve as a valuable resource for both parties involved. Gain a comprehensive understanding how leveraging the expertise of a bailiff can be instrumental in resolving such situations.
Meg Cooney, seasoned Commercial Real Estate Broker from William Wright Commercial's Vancouver office, takes center stage to share insights into the world of pre-sale strategies in commercial real estate. This episode offers a valuable exploration of pre-sale tactics and market insights.
With his finger on the pulse of the real estate landscape, Alan Haigh of Impact Commercial provides a roadmap for the year ahead. Amidst market turbulence involving interest rates and inflation, Alan offers clarity on potential rate trajectories, strategies for seizing opportunities during market volatility, and insights to steer investors in the right direction.
In this concluding episode of the year, Matt and Cory offer a comprehensive summary of the year's journey through the dynamic world of commercial real estate. Together, they explore the transformative shifts within various asset classes, shedding light on how the commercial real estate landscape has evolved.
With an expert grip on international markets, Peter Leung, esteemed "Investorpreneur" and international correspondent, offers exclusive insights that can truly give investors a competitive edge. Explore his surprising viewpoints on the buy-sell dilemma and get ready to be astonished by his current pick for the ultimate investment hotspot.
Bob Knakal, a distinguished figure in New York City's commercial real estate scene, boasting an impressive 40-year tenure in the industry, delves deep into the intricate details of the NYC office market, the current vacancy rates, trends, and surprising lease rates for prime retail spaces.
Dan Smith, the driving force behind commercial leasing at Reliance Properties, takes center stage to delve into the pulse of the current commercial real estate market. Tune in to discover Dan's insights into the potential resurgence of the office asset class.
This week features an insightful conversation with Eric Wainwright, Managing Director of STOREYS. STOREYS covers and reports on the Toronto housing market. Being a leader in publishing digital content, Eric unpacks his thoughts on the current real estate market, from interest rates to challenges developers are facing and more.
It's time to reveal the top 5 commercial investment markets for 2024! Cory and Rod MacKay from WWC Vancouver break down the most promising opportunities for the year ahead. These markets offer above-average returns with significant potential for increased net operating income, paving the way for substantial equity gains.
As we step into the fall, anticipation builds for the unveiling of the Western Investor's top five cities to invest in for the year ahead. Frank O'Brien from the BIV Media Group, the editor behind the insightful Western Investor reports, presents the prime cities for commercial real estate in 2024.
Shelby Kostyshen, commercial real estate expert from the William Wright Commercial Kelowna office, sheds light on Vernon, a city that's recently seen an uptick in growth. Could Vernon be the next Kelowna? Shelby unpacks specific asset classes that mirror the trends unfolding in Kelowna.
Byron Chard, President and CEO of Chard Development, provides a comprehensive overview of the current state of the commercial real estate market. Byron sheds light on the recent GST changes affecting purpose-built rentals. What do these changes mean for investors and how are they impacting Chard Development's strategies?
As a hands-on expert, Jon Switzer of Impact Commercial shares invaluable insights into the commercial real estate landscape, offering listeners a comprehensive view of the present and a glimpse into the future. Tune in for an informative conversation that promises to shed light on the ever-evolving world of commercial real estate.
Back by popular demand, Douglas Porter, Chief Economist and Managing Director of Economics at BMO Financial Group, provides unparalleled insights into the current landscape of interest rates and offers a crystal-clear view of what lies ahead. Will the trend continue its upward trajectory or are we on the brink of a shift?
Heidi Shortreed from Vedderbrook Properties unveils the secrets to unlocking hidden profitability within your real estate ventures through the strategic use of property management. Tune in as Heidi shares her invaluable insights on how a seasoned property manager can be the key to turning your building into a revenue-generating powerhouse.
Jeff Hancock, who specializes in land development at the WWC Kelowna office, discusses the effects the recent forest fires have on the local market. These annual occurrences have become a part of life for this vibrant Okanagan city that has become a bubble for real estate development over the past few years.
Santanna Portman, Commercial Sales and Leasing Specialist at William Wright Commercial, dives into the vibrant commercial landscape that defines Vancouver Island, shedding light on key trends, emerging opportunities, and the evolving dynamics that shape this ever-changing landscape.
Kevin Johnston, President of Strand, shares his expert perspectives on the market's current landscape and interest rates, and unpacks the opportunities and challenges that shape Vancouver's real estate scene. We also dive into the office asset class, which seems to be bubbling under the surface with potential.
Meg Cooney, Commercial Real Estate Broker at WWC Vancouver, dives deep into a transformational approach that draws people back to offices without enduring long commutes. This isn't just a discussion about office spaces—it's a blueprint for redefining the future of our communities.
Cory Wright, Founder of William Wright Commercial, avid real estate investor, and—most importantly—one of the best dealfinders we’ve ever met, holds a master class on how to choose residential and commercial real estate markets, find and analyze the best deals, and implement advanced strategies to supercharge your portfolio.
Gordon MacPherson, President of Elevate Development Corp, provides expert insight into the current real estate market and its dynamic nature. We talk about how different asset classes have been affected since the pandemic, and gain valuable knowledge on the evolving trends in walkable village concepts within various areas.
With his finger on the pulse of international markets, Peter Leung, investorpreneur and international correspondent for the show, offers unique insights that can give you a competitive edge. Discover his surprising choices on whether to buy or sell, and prepare to be astounded by his current preferred investment hotspot.
Jon Switzer, Managing Partner and Commercial Mortgage Broker at Impact Commercial, sheds light on the recent interest rate adjustments and their impact on individuals and businesses alike. Gain a deeper understanding of how these changes reverberate throughout the market and explore the potential ramifications for the local economy.
Shawn Bouchard, Chief Operating Officer of Lorval Developments, dives into the pressing issue of Vancouver's rental housing crisis, unpacking his thoughts on the root causes of the problem and offering valuable insight on potential solutions. Discover how government intervention can play a pivotal role in addressing the challenges faced by renters in Vancouver.
Lori Suba, President and Broker, and Laurae Spindler, Vice President and Associate, of Scout Real Estate revisit the market in Calgary. Lori and Laurae unpacks the different sectors of the market, as well as discusses the Calgary downtown core and shares what the future could entail for Canada’s top 2023 market.
Marianne DeCotiis, commercial real estate broker at William Wright Commercial Kamloops, digs into the Kamloops market. How has the commercial market changed and developed over the past few years? What is the current state of supply? How have the operations of the commercial market shifted?
Bronwyn Scrivens of Omada Commercial unpacks Alberta market lease rates, the differences between Calgary and Edmonton when it comes to being an industrial landlord, how prices have changed, and where she would invest if she were to walk into the market today.
William Wright Commercial's very own Rod MacKay is here to give us a general update on the market. How have interest rates affected the market? How is the supply? What is the vacancy rate doing? And how is the retail market fairing after the pandemic?
Paul Sullivan, property tax expert from Ryan ULC, unpacks some potentially business saving insight as he guides us through the labyrinth of commercial property tax. What are commercial tax classes? Which areas are taxed the most and how do they work it out?
Retail expert David Ian Gray of DIG360 unwraps everything from how the retail environment has changed, why American big box brands haven't fared as well this side of the border, how technology has impacted the retail world, and his thoughts on why Nordstrom is pulling out.
Ever wonder how companies buy commercial buildings, fix them up, keep them, and then seem to buy more? Cory and Melisa walk through the 5 key indicators and steps on how you can buy value-add properties and get a 100% return on your equity in under 2 years.
As interest rates continue to move upward, how can you cash in on this? Lawrence Green, President of Spire Development Corporation, discusses what he sees happening in BC’s best markets and how you can make money from these high interest rates.
Why is the collapse of Silicon Valley Bank good for real estate in BC? Alan Haigh, Founding Partner of Impact Commercial Group, discusses how the shocking events down south with SVB could impact BC real estate. Alan shares how rates may move sooner than expected or how they may hold firm for 2023.
From securing air right for a crane to ensuring the land doesn't give way for your underground parkade, Tim Sportschuetz of Sportschuetz & Co construction lawyers talks about all the things you would have never guessed that go into a real estate development in BC.
What’s the last BC commercial real estate market left to boom? Kevin Wong of Wesbild discusses everything Kamloops and why this market is about to boom, from major industries driving the local economy to AAA tenants looking to enter the market.
Conall Barr of CBarr Inspections discusses the importance of a commercial building inspection before you remove subjects on your next purchase and how it can save a buyer hundreds of thousands of dollars in deferred maintenance costs.
Why did we pick Nanaimo as the best investment market for 2023? Connor Braid of William Wright Commercial and Managing Director for Vancouver Island shares the inside stats on why the Central Island region is an investment market you want to know.
Thomas Wieckowski, Associate Appraiser of Campbell & Pound, discusses what’s in store for 2023 and a lookback at the past 24 months. Thomas walks us through what the appraisal industry has seen over the past 2+ years and gives his thoughts on what makes a good opportunity.
Who better to hear from on how 2023 is shaping up than an appraiser who sees all the deals and numbers? Commercial appraiser Ryan Wong from Ryan LLC lets us in on what he is seeing. Will the market collapse in 2023? Will inflation topple the market? Will we see gains in real estate assets in BC this year?
Ever wonder what it would be like to be part of a $1,000,000,000+ portfolio of real estate? Alex Messina, VP of Acquisitions for Nicola Wealth Real Estate, which oversees over $8.5 billion dollars worth of some of the best real estate in North America, shares their strategy and where they are most excited about for 2023.
With the Bank of Canada’s latest rate increase of 0.25% and what could be the last rate increase for 2023, what does this all mean? BMO's Chief Economist Doug Porter shares his thoughts on interest rates, inflation, the overall Canadian economy, our neighbours to the south, and everything else you need to know for 2023.
Phones are already ringing for properties and sellers are receiving offers—in some cases multiple... So what does it all mean? Patrick Wood from WWC’s Victoria office tells us how to interpret this quick start to 2023, what his picks are for best investment markets, and what he anticipates all these numbers reveal about interest rates and inflation.
Rod MacKay from William Wright Commercial shares the 5 best commercial investment markets for 2023. These markets offer above average returns with the opportunity for a major increase in net operating income in the coming years, resulting in a big potential equity gain.
As 2023 is now in full swing and the real estate markets are off to a rocky start, Alan Haigh of Impact Commercial sheds some light on where interest rates are going, when they might pull back, and how to take advantage of this market turbulence to find a deal.
Happy Holidays, Happy Hanukkah and Merry Christmas from all of us at the VCREP and thanks for listening in 2022. As the podcast continues to grow week-over-week we have some amazing guests lined up for 2023 which is shaping up to be our biggest year yet. Thanks for all the continued support and we look forward to some amazing shows in 2023!
Jon Switzer of Impact Commercial shares that the 10-year bond numbers were falling, which predicts (fingers crossed) that fixed rates will follow. Jon shares his prediction on interest rates for 2023 and when he sees rates pulling off and declining. If you have a mortgage, this is an episode you must take in.
Everyone's always looking for the next asset class to buy, and we know what it is for 2023. Adam Mitchell of Low Tide Properties discusses Lab 29 and what could be the most sought-after asset in Vancouver: industrial lab space. He also shares why Low Tide continues to invest in this sub-asset class and why it's in such high demand.
Daniel Eagling from Cairn Homes in Ireland discusses how inflation, interest rates, and supply chains are affecting their market. Dan walks us through the challenges their market and the neighbouring European markets are having, the strain on supplies, and the tightening of the rental market heading into 2023.
William Wright Commercial operates offices in five of BC’s top commercial real estate markets, and with two more offices set to open in the coming months, who better to get a province-wide view on the markets than WWC’s Business Development Manager, Matt Everitt? Matt discusses why the time is now for investors to jump into these areas.
As people trickle back to the office in one fashion or another, is an investment into an office space the best opportunity in 2023? Byron Chard, CEO and President of Chard Development, discusses his latest office projects, along with the success of those projects and everything Chard has on the books for 2023 and beyond.
Brad Howard, Director of Development at PCI Developments, discusses the Lower Mainland's second downtown in Surrey and talks about PCI Developments' exciting and recently completed project, the King George Hub. Brad unpacks the success of the project, why it is desperately needed in Surrey, and the rapidly growing downtown district in Surrey Central.
Do you own land in BC? Are you required to file under the Land Owner Transparency Act by November 30th? Commercial real estate legal expert Scott McInnes of Redpoint Law discusses this all-important deadline for BC landowners, unpacking what exactly the Land Owner Transparency Act is, if it applies to your property, and more importantly, if you are required to file by November 30th, 2022.
How are the current economic challenges affecting the development industry? Jordan MacDonald, CEO of fabric living, opens up about the challenges the industry has faced with rising inflation and interest rates, how fabric has navigated the current economy, and how he and his team have continued to grow and acquire assets during this time.
Did you know that business sales and acquisitions fall under the commercial real estate umbrella? Chris van Vliet from WWC's Fraser Valley office breaks down how you buy or sell a small business. He talks us through the timelines, the conditions, and some things you need to be cautious of when navigating through the process.
William Wright Kelowna's Team Leader Jeff Brown discusses whether or not Kelowna has felt any slow down like most markets have experienced. He also shares insight on what impact, if any, interest rates and inflation have had on the market, what asset classes continue to outperform, and what's next for Canada's fastest growing population.
Frank O'Brien shares Western Investor's top cities for commercial real estate in 2023. This year's list has a few VCREP favourites plus a couple surprises, not to mention the #1 spot isn't even in BC! Frank also shares his opinion on David Eby's new housing plan and how it could be opening an even bigger opportunity for speculators.
Impact Commercial's Co-founder and Managing Partner Alan Haigh unpacks what has happened over the past couple of months in both Canada and the US, how the bond market could predict what will happen to interest rates, and when this madness will end.
As the world continues to cope with rising inflation and interest rates, international commercial real estate investor Peter Leung tells us how his portfolio is (or isn’t) affected and what markets have bounced back quicker than others. Peter also discusses what BC markets he likes and where he is looking to grow his holdings.
For all the curious minds interested in commercial real estate investing, grab a coffee and pull up a chair because we have exclusive stories and tips from commercial real estate brokers, investors, developers, economists, urban planners, and everyone in-between. From the successes and failures to the motivations and lessons learned, the Vancouver Commercial Real Estate Podcast is your insight into commercial real estate in Vancouver, Victoria, Kelowna, and beyond.
What's the best real estate market to invest in? What are the commercial real estate asset classes and property types? Hosted by Cory Wright, founder of William Wright Commercial, and co-hosts Adam and Matt Scalena of the Vancouver Real Estate Podcast, our podcast opens the door to real estate investing for everyone from beginner investors to experienced real estate professionals. New episodes are released every Tuesday. Follow the Vancouver Commercial Real Estate Podcast on Apple Podcasts, Spotify, YouTube Music, or your favourite streaming platforms.
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